Quote from: VinceSamios on January 02, 2014, 03:48:46 PM

FYI - there is a limit on the number of shareholders in a private company under which they would have a lot of freedoms.

I believe it is currently still a limit of 500 shareholders however legislation is in process to increase that to over 1000 through the "Jumpstart Our Business Startups Act" which has been approved but will be added to the JOBS Act and therefore requires another vote and presidential signature (I'm not sure if this has happened yet)

The latest list of ActiveMining investors shows 323 people (http://bitfunder.firstitinc.com/asset-list/assetlist-2013-12-07-01:40.txt) although we need to take into consideration that a lot of people tendered shares prior to this.

Searching for a pre-bitfunder shutdown list (http://bitfunder.firstitinc.com/asset-list/assetlist-2013-11-01-23-50.txt.bz2) shows 768 investors. We can guestimate this is higher as not all BTCT.co investors would have moved across prior to this. (if I understand correctly)

It might have been recommended, possibly even by the SEC, for Ken to delay listing the shares until the amendment to the JOBS Act has been passed (it may already have been, I haven't bothered googling it).

Vinny, please stop making shit up. Unregistered securities are unregistered securities. If you wish to play interweb lawyer, at least cite the laws you're invoking.

Any future changes in the applicable laws will not be retroactive. What Ken did was illegal at the time that he did it, and remains illegal now. I to enjoy fantasizing about possible hospitable future, though I do not base my financial decisions on those fantasies.

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