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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: s martin who wrote (53875)3/6/1999 3:33:00 PM
From: Tommy Hicks  Read Replies (1) of 55532
 
Martin,

What's your take on rule 144.

Under Rule 144, restricted securities may be sold to the public without full registration (registration is completed upon transfer of ownership) if the following conditions are met.

Without full registration?

Then the first condition is -

The securities have been owned and fully paid for for at least two years, or upon the death of the owner.

I'm a little confused. If an insider can trade restricted securities prior to full registration, then what does the 1st condition mean? Owned by whom? Does the clock start ticking when they were "promised" the shares by the company?

th

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