Blue Biofuels Inc (BIOF)

[LTE]

<<Through its private offerings, the Company raised $3,079,004 for the year ended December 31, 2016, and an additional $987,500 through the date of filing.>>

Exactly - and that has NOTHING to do with the 506(c) filing that's
especially for sophisticated investors. What you mentioned above
is the money raised from mom & pop. As I said here before, you
need a minimum net worth and income to be an accredited investor -
check here:

<<Can anyone invest in Alliance Bio-Products, Inc.?

A 506(c) offering is open only to accredited investors. To confirm yourself as an accredited investor, please fill out the Accredited Investor Questionnaire by clicking the button on this page. If you click “Invest Now” you will be asked questions to help determine your maximum investment amount.>>

https://www.transfer.ly/invest/alliance-bio-products

Here are the requirements:

<<United States[edit]

In the United States, to be considered an accredited investor, one must have a net worth of at least $1,000,000, excluding the value of one's primary residence, or have income at least $200,000 each year for the last two years (or $300,000 combined income if married) and have the expectation to make the same amount this year. The term "accredited investor" is defined in Rule 501 of Regulation D of the U.S. Securities and Exchange Commission (SEC) as:>>

https://en.wikipedia.org/wiki/Accredited_investor