I HAVE NEVER SEEN ANY PARTNERSHIP AGREEMENT OR THE STRUCTRE OF THE STABLE BUT MY CONCERN WOULD BE IS THIS A "SECURITY?" THE DEFINITION OF A SECURITY BY THE SEC SURE CAN BE INTERPRETED IN A FASHION THAT THIS INVESTMENT IS A SECURITY.
THESE FOLKS:
1. ADVERTISE THEIR UNITS ON A PUBLIC FORUM
2. PROVIDE AN EXCHANGE TO SELL THE UNIT
3. THE INVESTORS HAVE ZERO INPUT INTO THE MANAGEMENT OF THE HORSE
4. IS THIS INVESTMENT REGISTERED WITH THE SEC?
5. ARE THESE QUALIFIED INVESTORS WITH VARIOUS REQUIRED FINANCIAL DATA?
I AGAIN HAVE NEVER SEEN THIS PARTNERSHIP----OR ORGANIZATION ----POSSIBLY THESE FOLKS HIRED GOOD COUNSEL TO PROVIDE A LEGAL OPINION ON THEIR BUSINESS MODEL AND STRUCTURE. IF NOT----THESE ISSUES COULD PROVE THIS IS A SECURITY AND IF SO?
HUGE PROBLEM ANOTHER TRUEE BLACK EYE TO AN INDUSTRY!!!!!
HOPEFULLY, THESE FOLKS HAVE A GREAT ATTORNEY AND THE STRUCTURE IS LEGAL.