$ASII that time frame also applies approximately to the 1-A “Notice of Qualification.” Form 1-A can only be qualified by SEC order, after the issuer and SEC staff reviewing the filing come to general agreement on the substance & accuracy of the disclosure in the 1-A offering statement. SEC staff could accelerate the date of qualification, but otherwise, after the passage of 20 calendar days, no further action is required to begin to offer and sell securities. https://www.ketsal.com/blog/3-did-you-know-notice-of-qualification/