ScripsAmerica Inc. (SCRCQ)

[jab91252]

chp writes:

"For your edification, here is the exact language of Section 17(b):

"(b)
It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof."


SEC Section 17 refers to 'security based swaps'. That is the subject of Section 17. Security base swaps are subject to (b) which states 'it shall be unlawful....WITHOUT FULLY DISCLOSING THE RECEIPT'....'and the amount thereof.'

For grins, lets play lawyer, judge and jury, cast a wide net and say this SEC Section applies to all "Consultant Agreements" for anyone named in a publicly traded companies 10k. If a Consultant Agreement is disclosed in the 10k along with the amount, then letter of law has been satisfied.

Next witch hunt??