North American Cannabis Holdings Inc (USMJ)

[poster44ny]

Seems so about the PP shares:

Regulation D
To privately place its stock, a company must qualify for an exemption to the SEC registration requirement. Criteria for those exemptions are spelled out in an SEC rule that goes by the vaguely pharmaceutical-sounding name of Regulation D. For example, the exemption described in Section 506 of the regulation allows a company to raise an unlimited amount of money through private placement if it meets several criteria. First, it can't advertise the stock or send out a general solicitation for investors. Second, stock can be sold only to investors -- institutions or individuals -- whose experience, wealth or position makes them sophisticated enough to understand the risks. There are federal guidelines for determining who is "accredited" or "sophisticated" and who is not. Third, companies must provide financial information to the investors and be available to answer their questions. Finally, the investors usually can't resell their stock for a year.

http://budgeting.thenest.com/meaning-private-placement-shares-23243.html