Re: [ANN][ICO] Paygine — open financial platform for business
Dear subscribers!
We would like to finally break the important news about the expected PGC token exchange listing.
We have received the reply from our legal team as you know, Paygine ICO has been approved by the SEC under Regulation D, which means we have certain requirements to comply with. This is relevant in particular to the rule 144 (available here https://www.sec.gov/reportspubs/investor-publications/investorpubsrule144htm.html)
Here is a quote from the document:
...Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is a reporting company in that it is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months. If the issuer of the securities is not subject to the reporting requirements, then you must hold the securities for at least one year. The relevant holding period begins when the securities were bought and fully paid for. The holding period only applies to restricted securities. Because securities acquired in the public market are not restricted, there is no holding period for an affiliate who purchases securities of the issuer in the marketplace. But the resale of an affiliate's shares as control securities is subject to the other conditions of the rule...
Thus at this point in time we have no other choice but to wait exactly one year from the moment our token sale was concluded which is 17 August 2018 before we can list our token on an exchange. However, we would like you to know that we are exploring ways of making listing as quick as possible. We will keep you updated on the latest news!
We would like to finally break the important news about the expected PGC token exchange listing.
We have received the reply from our legal team as you know, Paygine ICO has been approved by the SEC under Regulation D, which means we have certain requirements to comply with. This is relevant in particular to the rule 144 (available here https://www.sec.gov/reportspubs/investor-publications/investorpubsrule144htm.html)
Here is a quote from the document:
...Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is a reporting company in that it is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months. If the issuer of the securities is not subject to the reporting requirements, then you must hold the securities for at least one year. The relevant holding period begins when the securities were bought and fully paid for. The holding period only applies to restricted securities. Because securities acquired in the public market are not restricted, there is no holding period for an affiliate who purchases securities of the issuer in the marketplace. But the resale of an affiliate's shares as control securities is subject to the other conditions of the rule...
Thus at this point in time we have no other choice but to wait exactly one year from the moment our token sale was concluded which is 17 August 2018 before we can list our token on an exchange. However, we would like you to know that we are exploring ways of making listing as quick as possible. We will keep you updated on the latest news!