Detailed Answer
(c) Under Rule 505 of Regulation D, the issuer must
notify the SEC of the offering within 15 days after the first sale of
the securities. Answer (a) is incorrect because under Rule 505,
the issuer may sell to an unlimited number of accredited investors
and to 35 unaccredited investors. Answer (b) is incorrect
because no general offering or solicitation is permitted. Answer
(d) is incorrect because the accredited investors need not
receive any formal information. The unaccredited investors,
however, must receive a formal registration statement that gives a
description of the offering.