All of this legal theorizing about securities registration applies equally to Freidcat and ASICMiner. Are the people in here really claiming that the US government is going to hunt down Freidcat and try to prosecute him for issuing unregistered securities?
Entirely possible and plausible, along with the PT operators, but the issue isnt whether the SEC
will do it, the issue is the SEC
can do it, because they are breaking US security laws. Doesnt matter where asicminer is incorporated. Doesnt matter what nationality friedcat has.
As for your huge font text about Burnside,
you realise his company is registered in Belize, right? That Belize isnt a city in the US, right ? Hey guess what, it doenst matter any more as where labcoin (isnt) incorporated. They are soliciting funds from US investors in the US, hence they are subject to SEC regulation.