The quiet period you refer to does not restrict them at
The quiet period you refer to does not restrict them at all. There are no mandated quiet periods for pink sheets, and the term "quiet period" is being improperly used here.
I can tell you no directors of the company have sold holdings. If they have they would be in trouble not because of any other rule but the required filing of Form 144. Form 144's are public documents, to a point. You must have paid access (such as Bloomberg or Reuters) to view them and I can definitely say that last 144 filed to sell was Igor. He sold the entire allotment he had registered to sell. If he had not he would have been required to file an amended 144, which he did not. There have been no sales by Directors of Baltia since that date. I went over the entire holdings for the company and nothing jumps out as untoward. You can check SEC filed buys as well.
There is no defined "quiet period" term in federal securities law. If there was a real, and not voluntary quiet period (voluntary means just that - voluntary - therefore there can be no breach) they would have filed their intent with the SEC to enter a so called quiet period, but that only restricts what the company can release to the public. Baltia can continue to issue factual business information that is intended for use by persons other than investors or potential investors, but there was no filing with the SEC that this was done, therefore there is no binding or legal quiet period in effect other than a self-imposed one.
Many of the rules regarding similar issues must meet conditions of eligibility and most of those rules are not available to penny stock issuers.
The response Mr. Jordan provided to a poster here was a great example of how a company, entering a period of rstricted disclosure,, should conduct themselves.
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