Harry is attempting to sell Stock's that are worthless by promoting the success of his company he is contacting all acquaintences and saying in his casual way, My son has stocks in the company and we are selling them for a limited amount of time.
Harry Keane's Webpage representing his "Nu-Vista Studio" con site references links that imply a story that supports his lies. But, the consumer cannot go further to validate the link.
On the website: http://www.nuvistastudios.com / click the tab "About Us"
Indicated news items on the right side of the page:
Nu-Vist files Red D with SEC and issues 1,000, 000 shares of stocks.
Red D is a purposeful typo for "Reg D". Harry is trying to mislead the consumer. What are Red D stocks?"Red D" is nonsense term intended as an innocent typo but really protects Harry from any lawsuit of publishing the sale of "Reg D" stocks without proper licensing or backing.
What are Regulation D. Stocks? See this link:
In the United States under the Securities Act of 1933, any offer to sell securities must either be registered with the United States Securities and Exchange Commission (SEC) or meet certain qualifications to exempt them from such registration. Regulation D (or Reg D) contains the rules providing exemptions from the registration requirements, allowing some companies to offer and sell their securities without having to register the securities with the SEC. [ 1 ] A Regulation D offering is intended to make access to the capital markets possible for small companies that could not otherwise bear those costs of a normal SEC registration. The regulation is found under Title 17 of the Code of Federal Regulations, part 230, Sections 501 through 508. The legal citation is 17 C.F.R. 230.501 et seq.
Reg D also affects individual savings and money market accounts with banks and credit unions, and any other person or entity that wish to sell securities. Regulation D consistently exempts certain persons and entities within its rules, describing them as "accredited investors, " (generally this includes banks, certain other organizations, and people making more than $200,000 per year or with a net worth of over $1,000, 000). Regulation D also exempts certain offerings of equity from many of the regulatory requirements that impose costs upon standard public offerings.
Reg D is composed of various rules dictating the qualifications needed to meet the SEC exemptions. Rule 501 of Reg D contains definitions that apply to the rest of Reg D. Rule 502 contains the general conditions that must be met to take advantage of the exemptions under Regulation D. Generally speaking, these conditions are (1) that all sales within a certain time period that are part of the same Reg D offering must be "integrated", meaning they must be treated as one offering, (2) information and disclosures must be provided, (3) there must be no "general solicitation", and (4) that the securities being sold contain restrictions on their resale. Rule 503 requires issuer to file a Form D with the SEC when they make an offering under Regulation D.in Rules 504 and 505, Regulation D implements 3 (b) of the Securities Act of 1933 (also referred to as the '33 Act), which allows the SEC to exempt issuances of under $5,000, 000 from registration. It also provides (in Rule 506) a "safe harbor" under 4 (2) of the '33 Act (which says that non-public offerings are exempt from the registration requirement).in other words, if an issuer complies with the requirements of Rule 506, they can rest assured that their offering is "non-public, " and thus that it is exempt from registration. Rule 507 penalizes issuers who do not file the Form D, as required by Rule 503. Rule 508 provides the guidelines under which the SEC enforces Regulation D against issuers.
Reg D may also refer to an investment strategy, mostly associated with hedge funds, based upon the same regulation.
Harry Keane is operating within the school, church, sports, and professional community attempting to sell stocks without authorization. The stocks are to have a value upon sale and there must be a method to validate the value of the stocks if you own some. It is your right to have the company be assessed by a third party to have the value of those stocks validated. Beware of this fraud.
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