Brought to my attention, I took the liberty of con
Post# of 7795
Brought to my attention, I took the liberty of contacting Kara about the whole 144 stock issue. All she did is simply have the legend removed from her stock so she will have the option of selling in the future, should she want to. It is simply what you do when you have stock that is restricted (usually six months) when purchased for a time period and then becomes available for legend removal. To quote Kara:
You are correct -- all I did was have the legend removed and deposit the stock into my brokerage account. Most of the stock I held over a year, the balance I held just under a year. I have no sell orders on this stock, and no intent to sell at this time. This was just a stock deposit. The Form 144 filing also seems to be confusing people --- my broker requires I file a Form 144 even though I am not an affiliate. Actually, Form 144s are just for affiliates and I shouldn't have had to give this form at all. But you know how difficult it is satisfying brokers to do stock deposits -- I just sent in the form because they asked for it, NOT because I was required by any regulation to do so.
I hope this clears things up. I am one of Seafarer's very first investors and have no intent to 'dump the stock'.
So there you go. No big deal. No plans to sell. Has happened and will continue to happen all the time. And it clarifies the affiliate/non-affiliate issue. Yes, 144 is normally a sign of an affiliate, however, in this case, just something the broker required.
Now let's get those permits going and some treasure on deck!