General Rules and Regulations
Securities Act of 1933
Rule 257 -- Reports of Sales and Use of Proceeds
While not a condition to an exemption pursuant to this provision, the issuer and/or
each selling security holder shall file seven copies of a report concerning sales
and use of proceeds on Form 2-A, or other prescribed
form with the main office of the Commission in Washington, D.C.
every six months after the qualification of the offering
statement or any amendment until substantially all the proceeds have been applied;
within 30 calendar days after the termination, completion
or final sale of securities in the offering, or the application of the proceeds from
the offering, whichever is the latest event. This report should be labelled the final
report. For purposes of this section, the temporary investment of proceeds pending
final application shall not constitute application of the proceeds.
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