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

[Mark Jeftovic <markjr@xxxxxxxxxxx>]

Your concern may not be very far-fetched at all. Anyone who had to
shell out refunds for the .BIZ landrush lottery can see the
parallels.

I've been referring to WLS as a "digital derivative instrument" for
awhile.

-mark

On Thu, 7 Aug 2003, Jim Archer wrote:

> 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
>

-- 
Mark Jeftovic <markjr@xxxxxxxxxxx>
Co-founder, easyDNS Technologies Inc.
ph. +1-(416)-535-8672 ext 225
fx. +1-(416)-535-0237