Replies to post #28916 on Cardinal Resources Inc fka CDNL

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No, your point is not well made, and no I do not agree with you.

Regulations are put in place to prevent fraud. The amendment to Rule 144 and Regulation D recently by congress and Obama have already loosened regulation on capital formation. However, once an issuer has decided to register a class of security, the issuer must comply with disclosure. The issuer will not, and nobody is proposing that issuers be permitted to circumvent Reg S-X or the Exchange Act.

Further, the JOBS Act already amended the rules on the reporting requirements.

We may debate if further amendments are in the future is one thing; however, today, KJ and CDNL is in violation of Reg S-X and the Exchange Act.