S.C. Code Regs. 13-307. Promoters’ Equity

A public securities offering by a promotional or development stage company may be disallowed by the Securities Commissioner if the promoter’s equity investment is less than: A. Ten percent (10%) of the first one million ($1,000,000.00) dollars of the aggregate public offering; and B. Seven percent (7%) of the next five hundred thousand ($500,000.00) dollars of the aggregate public offering; and C. Five percent (5%) of the next five hundred thousand ($500,000.00) dollars of the aggregate public offering; and D. Two and one-half percent (21⁄2 %) of the balance over two million ($2,000,000.00) dollars, which may include items submitted by the promoter to meet this requirement whose value has been accepted by the Securities Commissioner or his designee.