picard

I seem to get a lot questions from people about the need to register with the SEC. I have some personal experience in this area that I'd like to share. First off, it is important to understand is that not all 'securities' need to be registered with the SEC. It is important that those investigating EBL understand this. Now for the examples...

Let's say you start a small company and you need to raise capital to get it going. The stock in this company is definitely a security. Does this stock need to be registered with the SEC before it can be sold to raise capital for the business?

The answer is (like many things in life...) - It depends...

If you only selling your shares to only 10 people and the amounts of the total stake each shareholder possesses is lower than a certain amount, you do not need to register these shares with the SEC.

If you wanted to take this company public (and sell the shares on a major exchange), you definitely would need to register. I do not recall the exact number of shareholder or the stake limit amounts, but I can look them up.

The small business scenario is an example of a security that does NOT need to be registered. A loan is a very different type of security. Unsecured loans (like EBL) have less restrictions than secured loans do in general.

To give you an idea of how NOT cut and dry this area is, I'll offer another example. Let's look at a private mortgage loan...

Let's say I sell my house and decide to carry the paper (finance the purchase myself with the buyer). This type of transaction is another example of a loan that does NOT need to be registered with the SEC. (In fact, my wife bought a condo 10 years ago from such a seller and it was all completely legal - title company, lawyers, the whole nine yards...)

Now consider a mortgage provided by a commercial lender like Countrywide. These guys may bundle a number of loans together and sell them on the open market. This bundle of loans sold in this way is a security that does need to be registered.

The main take aways about registration is that it depends upon how the security is marketed and sold. If you want to sell your shares or raise money in the publicly traded capital markets, you definitely need to register with the SEC. If you are raising capital through loans or stock privately, you generally are not required to register if you stay within certain guidelines.

This is just my experience. I am not a lawyer, accountant or securities expert. However, I have studied this stuff quite a bit over the last 3-4 years.

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Traderj

Of course the most important thing to be added to your post (which was a good one btw) is that whatever you find TODAY while reading up on the SEC and what does or doesn't need to be registered can change in the blink of an eye. As with all things gov't related the rules are constantly evolving... and again as with all things gov't related YOU are the one that needs to keep track of the rules.

Just because you register a company etc, today that does NOT need to be registered if the rules/laws change the SEC will not be sending you a note to let you know it is up to you and your accounting people to keep abreast of when and how things change so you can change anything in your corporate structure that might need it.

J

picard

Well said and I fully agree. For years I resisted hiring an accountant because I was one of these fools that thought it was a good idea to do everything myself. I am very glad that I did not have to learn the error of this thinking 'the hard way'. My accountant is well worth what I pay him (and he isn't cheap...).

An important thing I learned over the years is that if I had some questions that I wanted to discuss, it was often a good idea to just take him to lunch (at a nice place of course) and ask him there. I would often learn quite a lot without paying the hourly rate. Of course you need to do this sparingly, but it does allows me to spend more time with him than I normally would and it builds our relationship.

BTW, Craig Jolly is an accountant and has his own lawyer to help him with EBL. My impression of CJ is that he is quite aware of laws related to his business. He watched other programs and learned from them.

Yes, laws change, but I don't want to let that fact stop me from making decisions now. When laws change, we change with them. EBL will be no different IMHO.

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Traderj

Same here, much easier to hand over my box of receipts and say you deal with it that's what I pay your for

I agree, a good company with good staff and infrastructure should have no problem ever with the SEC or FTC or anyone else as they should have people making sure they evolve when/if the law does.

Gold1

If they are registered with the SEC or not is irrelevant (somebody told me that the SEC is investigating them)

The only thing that counts is that they pay the loan back in time.

I am still waiting to get my loan repayed since 20 july.

I didn't get an answer though e-mail, I decided to call them and they simply
hung up the phone on me..how can I still believe now that they are trustworthy ?!


Patricia.

allinvain

They hanged up the phone on you?

Not cool. Try getting a hold of the support guys on Skype.

As far as having your loan repaid, that I am not sure as I haven't yet requested a withdrawal. I am curious though, has anyone cashed out their loan, and if so, how did the withdrawal process take?

CalvinT

I've cashed out a couple loans with them, I funded with checks and received my check back in a week or so. Over >1K in cashouts with no problem and have not had any support issues.

Patricia either email support or post in the forum I don't think I have ever waited over 8 hours for any matter to be resolved.

sharonsopinion

HI Patricia,

According to their TOS, withdrawals take between 7-10 business days. Since July 20th, they were under a severe DDoS attack and moved their forum. So, I speculate that it was just your timing. Here is how you can contact them:

• Email support
• Leave a comment on the new forum
• PM them on the new forum
• Skype
• EBL Conference Room
• PM them here
• Email me at sharonsopinion@nobsnetwork.net and I'll intervene on your behalf.

Also, do they have your DD documents? As of July 1st no one can fund their account, loan them money or withdraw without having their DD documents sent in. The instructions are at the new forum.

Please email me or PM with the phone number that you used, who you spoke to and what time and time zone it was. I'd also like to know your source where you heard that they were being investigated, please.

Thanks,
Sharon

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picard

Wanna bet that "Patricia" doesn't e-mail you or act on any of your suggestions?

This person sounds exactly like smallface on Talk Gold who also accused EBL of hanging up on them. The following post was made on the same day as "Patricia's":

EarnByLoaning - earnbyloaning.com - Page 57 - Talkgold HYIP, Investment & Money Forum

I offered help to this person last week, never got a reply and the neg's continued. BTW, I'm a moderator in the new EBL forum and still did not get contacted.

In the unlikely event EBL actually did hang up on this person, my money would be on the assumption that they deserved it. What is more likely however is that "Patricia's" story is a complete fabrication.

IMHO, Patricia is no more an EBL member than I'm Tiger Woods. Would love to be wrong about BOTH of these assumptions though !!!

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Jude

lol. How's EBL doing for everyone anyway?

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