CGR is sometimes paid for documents and distribution in cash, stock, Rule 144 stock
, warrants, options or other securities in lieu of or in addition to CGR's stated compensation schedule.
Thus, a salesperson arriving at his or her office each morning, can find on his or her computer names, telephone numbers and wealth potential information for individuals who have sold their 144 stock
However, liquidity is a problem because owners are restricted from selling newly issued stock (see "Liquefying Rule 144 Stock
," the sidebar on page 43).
These shares will be 144 stock
and subject to a one year lock-up period.
The shares these companies receive are subject to insiders and control block and referred to as Rule 144 stock
, and are restricted shares; meaning they cannot trade; henceforth as aforementioned the float remains undisturbed after the merger.
On a further note, the company wishes to inform its investors that as of Monday, February 25, 2008, according to it Transfer Agent (Holliday Stock Transfer Company) the total number of outstanding shares of the company stands at 26,630,914 of which 10,000,000 are non-registered Preferred shares, 10,445,871 are both Restricted common shares and Rule 144 stock
, and 5,985,043 are free trading shares.
In addition to Rule 144 stock
, other restricted securities traded through the RSTN include unregistered stock, warrants, convertible securities, 144A equity and private company securities.
Furthermore, the board of SmartCard Marketing Systems Inc has decided that it will cancel 5 million shares of 144 stock
presently held by the company's main shareholder represented by myself (Massimo Barone) of which management of SmartCard Marketing Systems Inc is present that controls over 65% of issued stock.
WR or an affiliate of WR has been/will be or may be compensated in Rule 144 stock
of the Company for the publication and circulation of these reports.
95 million dollars through the issuance of restricted 144 stock
to the creditors.
Various debt and obligations associated with the merger of Centale and NexxNow were either forgiven or converted to Restricted Rule 144 stock
by Company Board Members and affiliates to the benefit of the company.
The PPM was offered to accredited investors that purchased Rule 144 stock
in the company.