Скачать или смотреть Can I "Buy and Flip" Restricted Securities? A Brief Rule 144 Overview

Many new issuers of securities are not aware of the rules pertaining to the resale of stock under private and public offerings. In this video I give a brief overview of Rule 144 as it pertains to resale of securities by issuers and investors wanting to resale their own shares.

The following summarizes key Rule 144 requirements:

1. If you are an affiliate of the company or a person selling on behalf of an affiliate of the company, and you hold restricted securities of a a company who is a reporting issuer: A six-month holding period applies. No resales under Rule 144 permitted. After the six-month holding period you then may resell in accordance with all Rule 144 requirements, subject to:
• Availability of current public information,
• Certain volume limitations,
• Manner of sale requirements, and
• Filing of Form 144 with the SEC.

2. If you are a non-affiliate of the company (and have not been an affiliate of the company during the prior three months) and you hold restricted securities of the company who is a reporting issuer: A six-month holding period is required. No resales under Rule 144 are permitted. However, after the six-month holding period, but before one year has transpired, unlimited public resales under Rule 144 are allowed except that the availability of current public information requirement still applies. After a one-year holding period, unlimited public resales under Rule 144 are permitted and one need not comply with any other Rule 144 requirements.

3. If you are an affiliate of the company or are a person selling, on behalf of an affiliate of the company, restricted securities of a company who is a non-reporting issuer: A one-year holding period applies. No resales under Rule 144 are permitted. After the one-year holding period, you then may resell in accordance with all Rule 144 requirements, including:
• Availability of current public information,
• Certain volume limitations,
• Manner of sale requirements, and
• Filing of Form 144 with the SEC.

4. If you are a non-affiliate of the company (and have not been an affiliate during the prior three months) and you hold restricted securities of the company who is a non-reporting issuer: A one-year holding period applies. No resales under Rule 144 are permitted. However, after the one-year holding period, unlimited public resales under Rule 144 are allowed without need to comply with any other Rule 144 requirements.

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