Becker questioned explained that the offering was over a 2 year period. I see that 504 and 505 have limitations for the issuance ($1m for 12 months and $5m for 12 months), is the restriction removed from 506 because there is an unlimited dollar amount on the issuance and subsequent issuances? I think I answered my own question but if someone could just confirm I would appreciate.. thanks!
The 12 month and 2 year thing is two different things. The invester (buyer) has to hold it and can not resell it for at least 2 years (long term) and that is regarding reg D (rule 504, 505, 506). The 12 month thing is the amount of securities the company (issuer/seller) can issue (1 mil for 504, 5 mill for 505, and unlimited for 506 given that there are no more than 35 sophisticated unaccredited buyers). Is that what you are asking??