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That's soliciting, which is regulated at least for soliciting non-accredited investors.
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Yes. That doesn't change my question, here. You can arrange to bootstrap another company. It could go bust in a way that you are not on the hook for any money, but you should be on the hook for the things you did. That is the entirety of my point.

The hypotheticals being pushed on this thread have a foregone conclusion that the arranging party is completely free of any hit.

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[delayed]
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