LOL!
The amendment was very clear. The April 2015 SPA amended the July 2014 SPA by removing Mansour's rights to acquire additional shares through the reset price provision or the option provision (option to purchase $40M worth of additional shares).
The Investopedia quote states "generally" and relates to an explanation of what a public offering is, not a legal definition.
Look at what a legal definition is and you will not find any reference to 35 people. LOL.
Public Offerings are made to the public at large.
Public Offerings are governed by federal and state regulations.
Before a public offering can be made, a company must file with the SEC a registration statement. The registration statement must contain the price at which shares will be offered to the public and other pertinent information.
Unless the registration statement is approved by the SEC, it cannot legally make the public offering.
ECIG has not made a public offering.
I am tired of this conversation, believe what you want.
"If at first you don't succeed, give up. No use being a damn fool."
