To that point though, we were nearing a little conundrum... Section 12(g) of the Securities Exchange Act of 1934. While the JOBS Act did address the threshold for security registration we currently estimate as many as 400-450 of our investors of the ~500 are unaccredited. If we extended, and reached our Reg D goal it's feasible that we would have 500 unaccredited investors in addition to total assets in excess of $10 million.

This would prevent us from using an exemption from registration, instead requiring us to register our security. This would be a massive financial burden on the company.
More information here: https://www.sec.gov/info/smallbus/secg/jobs-act-section-12g-small-business-compliance-guide.htm