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cityguru
cityguru, Solicitor
Category: Scots Law
Satisfied Customers: 13329
Experience:  solicitor
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How can I derestrict us pink slip shares?

Customer Question

How can I derestrict us pink slip shares?
Submitted: 3 years ago.
Category: Scots Law
Expert:  cityguru replied 3 years ago.
Do you mean shares traded on the "Pink Sheets"?

What do you mean by derestrict? how did you acquire these shares. Most such shares are highly illiquid and are often used as part of a scam as they are not really listed and are open to price manipulation.
Customer: replied 3 years ago.

I wish to derestrict so the scammers can be told this and abort their attempts or pay up !!!

Expert:  cityguru replied 3 years ago.
I am sorry but what do you mean by derestrict? Pink Sheet shares are dealt with "over the counter" but if they are restricted under rule 144 a you cannot derestrict them other than by registering them with the SEC - which is the equivalent of doing a prospectus and neither practical nor economic for an individual shareholder.
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Customer: replied 3 years ago.

I am told by SEC that it is little expense to derestrict If the right broker is approached !

Expert:  cityguru replied 3 years ago.
Are they 144 shares or subject to some other restriction? What are the secured? You will need a licensed broker dealer if you want to do it yourself . Is there actually any value in these securities?