California  |  Entertainment Law

Legal Question

Asked on: 4/30/09, 11:40 am

Film Investors Approaching Me and the SEC

I am currently producing an independent film and have been approached by multiple people, 13 to date, interested in investing in the production. I have not been proactively trying to sell shares/securities in the film but rather these people have decided to come to me to invest on their own because they heard through word of mouth. I'm currently hammering out the terms of the deals but due to the number of people, 13, does this fall into SEC territory even though I'm not selling shares/securities.

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