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Biotech / Medical : Small Cap Foreign Biotech -- Ignore unavailable to you. Want to Upgrade?

To: Torben Noerup Nielsen who wrote (25)	1/30/2000 8:05:00 PM
From: LLCF	Read Replies (1) \| Respond to of 363

<I'm not entirely sure that you cannot have shares of a GmbH traded on an exchange. By the way, in the US, can you peddle shares of an LLC without the SEC trying to impose any rules on you?> "Peddle" is the operative word here. You can certainly raise money, but the SEC has very strict rules regulating the sale of securities to the 'public' [which if taken as the definition of your use of 'peddle', the answer is no]. These rules strictly prohibit the advertising in public forum of non-registered securities. Whether LLC's are by defenition 'non-registed' I don't know. I'm pretty sure that if you want to raise money for a 'fund' you can get exempt status if you don't advertise, limit the number of participants [100, or 200 Peter??], and make sure participants are 'qualified investors' under the securities act. We should probably get Peter or one of the other legal experts involved if we want to know the real rules and meanings of LLC vs INC. vs Trust, etc. As far as the German investments go, here's the link to the Deutsche Borse's 'Neuer Markt' listings, again all AG's, but Rooting around in the site will probably yield a place to ask the exchange questions about the possibility of publicly traded GmbH's: neuer-markt.de DAK