LTE, not exactly accurate.
The monies that you are referring to as "mom and pop" investors were raised under the 506(c) private placement offering.
In both of your recent I-HUB postings (the one referring to the 2014 10-Q and the one from the recent 10-Q) the following is duly noted in each filing, after listing the names of all of the investors:
<<"The securities issued in the above-mentioned transactions were issued in connection with private placements exempt from the registration requirements of Section 5 of the Securities Act of 1933, as amended, pursuant to the terms of Section 4(a)(2) of that Act and Rule 506 of Regulation D.">>
In other words, those "mom and pop" investors you refer to are actually "accredited investors" according to ALLM's 10-Q filings.
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