[registrars] WLS as an option - we can't sell these

[Jim Archer]

Hi All...

Just a reminder to everyone that a wait, as currently described, sounds 
quite a bit like an "option."  In fact, in Montreal, Bruce Tonkin actually 
suggested that I describe it to my customers as such.

In the US, as in Australia and most countries, the sale of commodities, 
futures, options and so on is regulated.  The unlicensed sale of 
commodities is prohibited.

During the .BIZ rollout, almost all registrars were quite surprised to 
discover that they can't sell lottery tickets. Gee, big shock, hua?  I 
don't have any idea why this surprised anyone.  It was immediately clear to 
us that we could not sell lottery tickets and so we didn't.

Don't be surprised if, when you start selling waits, the SEC or other 
appropriate regulatory agency contacts you, or if some entity sues you. 
Everyone here can pretend all they want that there are no legal issues with 
selling waits.  Maybe you'll be lucky and no one will call you on it. 
Maybe no one will sue or investigate.  Maybe it is entirely legal.  Who 
knows?  Just answering the questions could be enough to put people out of 
business. But the lawyers will do well spending your money.

You have been warned.

Jim

*************************
James W. Archer
CEO
http://www.RegistrationTek.com