When a securities issuer like us first submits an offering to the SEC for review and qualification ("qualification" by the SEC means they give us permission to start selling our bonds), the offering is brand new with no sales or operational history--we are basically telling the SEC, "here is what we plan to do with the bond sales money once you allow us to sell." After a 12-month period of sales, they then want the issuer to come back to them and provide an updated offering document, called a circular, describing the business operations for the past 12 months.

While they review the updated offering document, which usually includes questions and comments back to the issuer (we are the securities issuer), the issuers are required to refrain from selling until the process is completed. The SEC requires this sales pause as it's their position that investors would be purchasing based on the original, 12-month-old offering document which is now "out of date". Once the updated offering document has been reviewed, and any SEC questions are answered, then the issuer can continue selling under this "refreshed" circular. Bottom line is: the SEC wants to ensure that all investors have the most current information on the offering!

So we thank you for your patience as our offering completes the review! All other account functions (such as withdrawals, or accessing interest reports, etc) are not affected during this process.