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GunShow_Trader

10/31/19 11:33 PM

#10148 RE: stoflat #10147

I'm wondering the same.

Wisdom

11/01/19 8:52 AM

#10162 RE: stoflat #10147

Yeah I saw it after they closed the market within the first hour yesterday ... Just wanted to do due diligence on it first...

It's a form D which appears they raised money...A form D locks the investment.

"A company must file this notice within 15 days after the first sale of securities in the offering. For this purpose, the date of first sale is the date on which the first investor is irrevocably contractually committed to invest. If the due date falls on a Saturday, Sunday or holiday, it is moved to the next business day."

https://www.sec.gov/smallbusiness/exemptofferings/formd

Its for this rule

Purchasers in a Rule 506(b) offering receive “restricted securities." A company is required to file a notice with the Commission on Form D within 15 days after the first sale of securities in the offering. Although the Securities Act provides a federal preemption from state registration and qualification under Rule 506(b), the states still have authority to require notice filings and collect state fees.

I imagine news next week on this and the conferences.