b'channelisnottypicallyavailableforsmallerofferings,asinvestment advisersandsecuritiesbroker-dealerstypicallywontmarketsecurities offeringsoflessthan$10million,andwillonlydosoforthosewith significant track records with similar investments. When they do agree to take on your offering, they will likely charge a due diligence fee of $50,000 to $100,000 dollars to vet your asset management team and the deal. As a result, the bar to entry for small issuers is such that they must typically develop direct relationships with prospective investors and sell securities on their own. All of our clients who have never raised money before, start with Rule 506(b) and many continue to use Rule 506(b) for all of their offerings. The reason is that your friends, family and acquaintances will invest with you while you develop a track record that is necessary to be able to advertise to strangersortohireacrowdfundingplatformorbroker-dealertosell securities on your behalf.Rule 506(c)Advertising Allowed The pre-existing relationship and non-solicitation provisions of Rule 506(b)havebeenasourceofgreatconfusion,misinterpretation,anda significantimpedimenttotheabilityofprivateissuerstofundtheir securities offerings, especially in light of the popularity of the internet and social media. This problem was addressed with the advent of The JOBS Act, wherein Rule 506(c) was established that allows advertising. 59'