Question: Mickie Wenwoods an outstanding collegiate golfer graduates from college and
Mickie Wenwoods, an outstanding collegiate golfer, graduates from college and decides to turn professional. To finance her effort to qualify for the LPGA Tour and to cover the cost of travel, housing, food, and a caddy, Wenwoods asks 20 of her family friends to contribute $10,000 each to her efforts. In return for their contributions, each friend will receive 1 percent of Wenwoods's revenues from her golfing efforts, including tournament prize money and endorsement fees from sponsors, less Wenwoods's expenses. Whether Wenwoods is able to generate revenue is dependent on how well she plays in golf tournaments and whether she is able to convince sponsors to sign her as an endorser. Wenwoods will also determine the amount of her expenses for travel, food, housing, and a caddy. Is Wenwoods selling a security when she asks for contributions from her friends?
Answer to relevant QuestionsAltaVerba, Inc., is a nonpublic company controlled by its majority shareholder, Robyn Streel. AltaVerba wants to make an initial public offering by selling 300 million Class B common shares in a firm commitment underwriting, ...Joseph Crotty was a vice president of United Artists Communications, Inc. (UA), a corporation with equity securities registered under the Securities Exchange Act of 1934. Crotty was the head film buyer of UA's western ...First City Financial Corp., a Canadian company controlled by the Belzberg family, was engaged in the business of investing in publicly held American corporations. Marc Belzberg identified Ashland Oil Company as a potential ...Kimon Daifotis was the lead portfolio manager of the YieldPlus Fund. In August 2007, when YieldPlus was suffering massive, unprecedented redemptions, Daifotis held two conference calls in which he allegedly falsely stated ...For many years, § 109 of the Federal Credit Union Act provided that "[f]ederal credit union membership shall be limited to groups having a common bond of occupation or association, or to groups within a well-defined ...
Post your question