Register

Wanna sell a security to the public? Then you gotta register it. Many hurdles. All kinds of disclosure. You have detailed, audited GAAP-conforming financials to file. Metrics. History of business papers to send out. A financial doctor will make you turn your head and cough. That's how things roll.

Why? Because, too often, unsuspecting farmers were taken by city slickers in the early 1900s, fomenting all kinds of laws that tried to protect them from this chicanery and let them keep their meager winnings from farming walnuts, so that they'd hopefully (eventually) have a few nuts to store away for their own winters.