Did Prosper Not Register -OR- File for Exemption? I'm just wondering.

Are these Promissory Notes securities or are they not?

Prosper obviously believes they are not, or else we wouldn't be in this mess to begin with right? Because they would have taken steps to appropriately register them, right?

Pennsylvania says they are Securities.

The more I investigate, the more I can't help but think that PA has a good argument. Although, I'm not willing to commit to that yet.

What I am willing to commit to is the fact that I'm beginning to feel like a dog chasing it's tail. That much I know for sure.

I guess another thing we know for sure is that Prosper has not registered their Notes as securities.

As a logical exercise, let's just say they ARE exempt.

Shouldn't Prosper then have the appropriate Federal exemption as proof of such exemption?

Since Prosper doesn't seem to have anything like this to fling back in the PA Security Commission's face, can we assume then, that Prosper neither registered their Notes OR filed the appropriate exemption?

I don't know, but i can't help but wonder.

Please sign the petition!

Ask a friend to sign!