Hacker News Reader

because you aren't a qualified investor and the SEC mandates certain obligations that the company must comply with to have you as an owner.

View on HN

The company cannot solicit or sell non-accredited investors securities but they can remain owners if securities where previously purchased.

http://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=8edfd12967d...

That is the greatest rebuttal of all time. There's no way I'm going to read that page so, instead, I'll just thank you for your diligence and be on my way.

I agree, I'm going to save that URL for any future discussions on HN regarding anything.

Reply on news.ycombinator.com