General Rules and Regulations
promulgated
under the
Securities Act of 1933
Rule 170 -- Prohibition of Use of Certain Financial Statements
Financial statements which purport to give effect to the receipt and application
of any part of the proceeds from the sale of securities for cash shall not be used
unless such securities are to be offered through underwriters and the underwriting
arrangements are such that the underwriters are or will be committed to take and
pay for all of the securities, if any are taken, prior to or within a reasonable
time after the commencement of the public offering, or if the securities are not
so taken to refund to all subscribers the full amount of all subscription payments
made for the securities. The caption of any such financial statement shall clearly
set forth the assumptions upon which such statement is based. The caption shall be
in type at least as large as that used generally in the body of the statement.
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with the understanding that the University of Cincinnati College
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services. If legal advice or other expert assistance is required,
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