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Post# of 68548
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deal guy

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deal guy

Re: renewabledick post# 24885

Friday, 06/05/2015 8:43:42 AM

Friday, June 05, 2015 8:43:42 AM

Post# of 68548
The issue with ECOS using 506 (either c or d) is that the company has to issue unregistered securities that the holder must hold in unregistered form for one year. All his toxic financing deals he has done so far are convertible (within 30-90 days) into registered shares which the recipient can then freely sell. These are not exempt offerings in the meaning of 506.

That being said if you don't actually comply with the other SEC rules (like actually filing financial statements) this rule is only a speed bump in where you want to go.
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