Quote from: mmmerlin on October 02, 2013, 02:06:32 AM

Quote from: bittymitty on October 02, 2013, 01:45:42 AM

"This is a privately held, nonpublicly traded company. This company and the PMB's being offered are not regulated by any governmental entities including the SEC or any other agency or board"

This is not regulated by any government entities or the SEC as per the statement above.

Did lab_Rat get confirmation from the government and SEC about this? Why is it unlikely to happen? What info have we been given about this apart from the above statement?

It's unlikely to happen because there are many bigger fish in the sea for them to go after - that's why they're going for exchanges, it's an all in one move. The individual companies are too much hassle (for now).

Also, if it's not being traded on an exchange then it's just an agreement between people, and no longer a security, right?

Anyway, any legal guesswork is pointless, it is whatever the SEC says it is. They have the lawyers and the money, so they will decide. After all, you don't have to have actually broken any laws to be prosecuted as if you have. One would hope that unless you had that you wouldn't be convicted, but anyone can go after anyone essentially, so let's just cross our fingers, and know that it's even more in LR's interest than it is ours to make sure this doesn't get shut down!

No FUD!

My lawyer states that due to the currency being unregulated by the US the security doesn't have to be either. The exchange on the other hand is a money transmitter and is regulated. Bitfunder is hosted in AUS I believe though, so the US can't touch it.