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To: Probart who wrote (16712)2/25/1999 3:42:00 PM
From: Jim Bishop  Respond to of 34075
 
On the other question, diggin', diggin', not calling just yet:

Subject: Regulation - SEC Rule 144



SEC Rule 144 allows for the sale of restricted securities in limited quantities. Rule
144 generally applies to corporate insiders and buyers of private placement
securities that were not sold under SEC registration statement requirements.

Corporate insiders are officers, directors, or anyone else owning 10% or more of
the outstanding company securities. Stock either acquired through compensation
arrangements or open market purchases is considered restricted for as long as the
insider is affiliated with the company. If, however, the buyer has no management or
major ownership interests in the company, the restricted status of the securities
expires over a period of time.

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.

1.The securities have been owned and fully paid for for at least one year, or
upon the death of the owner.
2.Current financial information must be made available to the buyer.
Companies that file 10K and 10Q reports with the SEC satisfy this
requirement.
3.The seller must file Form 144, "Notice of Proposed Sale of Securities," with
the SEC no later than the first day of the sale. The filing is effective for 90
days. If the seller wishes to extend the selling period or sell additional
securities, a new form 144 is required.
4.The sale of the securities may not be advertised and no additional
commissions can be paid.
5.If the securities were owned for between one and two years, the volume of
securities sold is limited to the greater of 1% of all outstanding shares, or the
average weekly trading volume for the proceeding four weeks. If the shares
have been owned for two years or more, no volume restrictions apply to
non-insiders. Insiders are always subject to volume restrictions.

The most recent rule change of Feb 1997 reduced the holding periods by one
year. For all the details, visit the SEC's page on this rule:
sec.gov

For more insights from Bill Rini, visit The Syndicate:
moneypages.com



To: Probart who wrote (16712)2/25/1999 3:54:00 PM
From: Jim Bishop  Read Replies (1) | Respond to of 34075
 
Some phone numbers that may come in handy, note the 800 numbers do not work from Canada.

Information Desired
Contact
Phone Number
OTCBB.com Help Desk
Web Help Desk or
E-mail OTCBB
(800) 777-5606
Changing Security Symbols and Names
Market Operations
(203) 375-9609
Closing Your Market
Market Operations
(800) 667-7997
Contracts, Equipment, Market Maker Applications, or Obtaining
Service
Subscriber Services
(800) 777-5606
Filing a Customer Complaint
NASD Regulation or
www.NASDR.com
District Office nearest you
Filing a Form 15c2-11
OTC Compliance Unit
(301) 208-2802
Form 211 Application Status
OTC Compliance Unit
(301) 208-2802
Further Details about OTCBB Service and Upcoming
Developments
Liz Heese
(202) 728-8191
Market Maker Procedures, Including SEC Rule 15c2-11 Filings
OTC Compliance Unit
(301) 208-2802
Minimum Quote Size Requirements and Other Rules
Market Regulation
(301) 590-6458
Reporting Stock Splits and Dividends
Market Operations
(203) 375-9609