Posted On: 07/02/2016 8:42:10 AM
Post# of 15187
If Durand isn’t on Joe’s radar he should be. I’m surprised that his post wasn’t taken down. He has been pro-KBM with almost every post, but the post below is very incriminating. Janice understands the situation and even included the reference to Rule 144 in her article on theOTCtoday.
Excerpt from Janice’s article,
The holding period for restricted stock issued by SEC registrants like HJOE is six months. That means note holders of such companies can convert and sell once half a year has passed; since converting and selling is how they profit on their investments, they want the process to go smoothly. But if the issuer becomes delinquent, Rule 144 is not available to those note holders, or to any other owners of restricted paper. The securities cannot be freed up until the delinquency is cured.
Excerpt from Durand post,
Of course filing cures the default. KBM sues because a company is not current with their filings so KBM can't convert their debt. Once a company becomes current again, KBM can then convert and dump their shares so why would they continue with the lawsuit?
Excerpt from Janice’s article,
The holding period for restricted stock issued by SEC registrants like HJOE is six months. That means note holders of such companies can convert and sell once half a year has passed; since converting and selling is how they profit on their investments, they want the process to go smoothly. But if the issuer becomes delinquent, Rule 144 is not available to those note holders, or to any other owners of restricted paper. The securities cannot be freed up until the delinquency is cured.
Excerpt from Durand post,
Of course filing cures the default. KBM sues because a company is not current with their filings so KBM can't convert their debt. Once a company becomes current again, KBM can then convert and dump their shares so why would they continue with the lawsuit?
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