SoOum Corp. (fka SOUM)

[Gaintrader]

Explains nothing, and based on this reply, I can't be sure if I am again dealing with simple ignorance, pure intentional misleading BS, or a little bit of both. Regardless, the phrase "exempt from registration" as used in SOUM's filing means something that the meaning of is obviously being missed by some who refuses to comprehend.

"...issued 440,000,000 shares of its common stock pursuant to an exemption from registration provided by Section 4(2) of the Securities Act of 1933."

Here is the 4(2) exemption claimed;
EXEMPTED TRANSACTIONS
SEC. 4. (a) The provisions of section 5 shall not apply to—
(1) transactions by any person other than an issuer, under-
writer, or dealer.
(2) transactions by an issuer not involving any public offering.
https://www.sec.gov/about/laws/sa33.pdf