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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey S. Mitchell who wrote (4278)	10/3/1999 8:08:00 AM
From: Q.	Read Replies (1) \| Respond to of 7056

Jeff, a reporting co. can do a private placement and issue securities in a private placement. One common way of doing this is not to register them at the time they are issued, but rather to issue them under "regulation D". This part of "Reg. D" is presumably different from the one that you are referring to. The buyer must be an "Accredited Investor", which in general means a net worth of over one million. There is a minimum holding period of several months -- I've forgotten exactly how many, but it is somewhere around four months. Private placements by reporting companies of the kind I am thinking about are commonly either Regulation S or Regulation D. Reg. S is for foreign buyers, and Reg. D. is for domestic ones. Lord knows what Dorian Reed did. Maybe he issued them through Regulation F, where the F stands for what he is doing to investors ...