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GeckoSystems Intl. Corp. GOSY
Posted On: 04/19/2013 8:01:04 AM
Post# of 2217
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Posted By: mech66

NONE of Spencer's stock will be sold by any court...


The IRREFUTABLE reasons why it CANNOT happen are:



1. The proposed sale VIOLATES Federal securities laws, specifically Rule 144 which governs the sale of all restricted stock, REGARDLESS of WHO is doing the selling or the circumstances.


Further, Rule 144 REQUIRES that ONLY FINRA/SEC brokers execute ANY and ALL sales.


2. And Rule 144 prevents beneficial owners (those stockholders with more than 5% of the issued and outstanding) from selling more than 1% of the issued and outstanding in any 90 day period.


Spencer holds 25% plus, so no court can legally order selling more than 1% in any 90 day period.  That is only a few million shares!



3. Federal law ALWAYS trumps state law.


Whenever state law conflicts with Federal law, FEDERAL ALWAYS prevails and precludes enforcement of any and all state laws that conflict with Federal laws.


In conclusion, the Spencers will NOT be losing majority control of GOSY since their 51% ownership is in preferred GOSY shares is NOT at risk in ANY manner, or have ANY of their common stock holdings sold, either.


facts are facts-


Mech















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