NY State No Action Letter

We've just had a no action letter from NY State, confirming that we do not have to register our securities.  This is good news, and now we can go forward preparing the investor documents.

Usually if you are raising money you need to register the shares.  However, there is a "Seed Capital Exemption" whereby, if you are raising less than $1 million, are not advertising the shares, and are raising money from friends and family, you don't need to.  Thankfully, that's us!