Securities Exchange Commission Regulation D; Rule 506(c); Regulation A+

Securities Exchange Commission Regulation D; Rule 506(c); Regulation A+

The Securities and Exchange Commission passed the JOBS Act on April 20, 2012. Rule 506(c) was extended to permit issuers to broadly solicit and generally advertise an unlimited amount of securities publicly, provided that: all purchasers in the offering are accredited investors. The issuer must take reasonable steps to verify purchasers’ accredited investor status and ensure certain other conditions in Regulation D are satisfied.

Also within the JOBS Act of 2012, Regulation A+ was extended to permit issuers to broadly solicit and generally advertise an offering publicly in an amount up to $75 million. Securities issued pursuant to Regulation A+ may be offered and sold to both accredited and non-accredited investors. The Company may utilize both Securities and Exchange Commission Rule 506 (c) and Regulation A+ to publicly access the private capital market place.