NONE of Spencer's stock will be sold by any court.
Post# of 2217
[b][i]NONE[/i] of Spencer's stock will be sold by any court... [/b]
The [b]IRREFUTABLE[/b] reasons why it [b]CANNOT[/b] happen are:
1. The proposed sale [b]VIOLATES[/b] Federal securities laws, specifically Rule 144 which governs the sale of all restricted stock, [b][u]REGARDLESS[/u][/b] of [b]WHO[/b] is doing the selling or the circumstances.
Further, Rule 144 [b]REQUIRES[/b] that [b]ONLY[/b] FINRA/SEC brokers execute [b]ANY[/b] and [b]ALL[/b] 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!
[color=red][b]3. Federal law [u]ALWAYS[/u] trumps state law.[/b][/color]
Whenever state law conflicts with Federal law, FEDERAL [b]ALWAYS[/b] prevails and precludes enforcement of any and all state laws that conflict with Federal laws.
In conclusion, the Spencers will [b]NOT[/b] be losing majority control of GOSY [b]since their 51% ownership is in preferred GOSY shares[/b] is [b]NOT[/b] at risk in [b]ANY[/b] manner, or have [b]ANY[/b] of their common stock holdings sold, either.
facts are facts-
Mech