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Sunday, February 10, 2008 5:07:12 PM
"The problem with 504, as I pointed out in the book, is while it is totally legal, it is more often than not being used by questionable or shady characters to avoid disclosure obligations before having public trading. Indeed 42 states now prohibit a 504 offerings from taking place in their state, if that gives you any indication."
"...my general advice to clients is to avoid getting involved in 504s unless you research it enough to find something redeeming about it."
If you want to know more about 504s, you should pick up his book. I know you can buy it on Amazon at a reasonable price. =)
Check out the board:
http://investorshub.advfn.com/boards/board.aspx?board_id=12773
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