Jeremy is a doctor who would like to be able to provide low cost medical care to underprivileged families. jeremy and two nurses form medicine for all and file a registration statement and prospectus with the sec. the prospectus states that medicine for all is looking for funding for the salaries of jeremy and the nurses and medical supplies and that the organization will earn little profits. will the sec allow medicine for all to sell its securities?
a. yes, provided all of the required disclosures are made clearly.
b. no, unless medicine for all's offering qualifies as a private offering.
c. yes, as long as medicine for all is not seeking to raise more than $1 million.
d. no, because this is an unsound investment.