As part of the JOBS Act, Congress passed new Rule 506(c). Under Rule 506(c), which became effective in September 2013, businesses may now use social and other media to advertise and solicit investors, as long as the business doesn't commit fraud in doing so and as long as the investors are considered “accredited” investors. Rule 504 exemption, which prohibits solicitations (with a few exceptions), must comply with the states' different rules for securities regulations, allows non-accredited investors, and allows for investments up to $5 million within 12 months. In this case its Wyoming.
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