id	sid	tid	token	lemma	pos
cblr-13858	1	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1	2	and	and	CCONJ
cblr-13858	1	3	the	the	DET
cblr-13858	1	4	federal	federal	ADJ
cblr-13858	1	5	securities	security	NOUN
cblr-13858	1	6	laws	law	NOUN
cblr-13858	1	7	crowdfunding	crowdfunde	VERB
cblr-13858	1	8	and	and	CCONJ
cblr-13858	1	9	the	the	DET
cblr-13858	1	10	federal	federal	ADJ
cblr-13858	1	11	securities	security	NOUN
cblr-13858	1	12	laws	law	NOUN
cblr-13858	1	13	c.	c.	PROPN
cblr-13858	1	14	steven	steven	PROPN
cblr-13858	1	15	bradford	bradford	PROPN
cblr-13858	1	16	*	*	PUNCT
cblr-13858	1	17	crowdfunding	crowdfunding	NOUN
cblr-13858	1	18	-	-	PUNCT
cblr-13858	1	19	the	the	DET
cblr-13858	1	20	use	use	NOUN
cblr-13858	1	21	of	of	ADP
cblr-13858	1	22	the	the	DET
cblr-13858	1	23	internet	internet	NOUN
cblr-13858	1	24	to	to	PART
cblr-13858	1	25	raise	raise	VERB
cblr-13858	1	26	money	money	NOUN
cblr-13858	1	27	through	through	ADP
cblr-13858	1	28	small	small	ADJ
cblr-13858	1	29	contributions	contribution	NOUN
cblr-13858	1	30	from	from	ADP
cblr-13858	1	31	a	a	DET
cblr-13858	1	32	large	large	ADJ
cblr-13858	1	33	number	number	NOUN
cblr-13858	1	34	of	of	ADP
cblr-13858	1	35	investors	investor	NOUN
cblr-13858	1	36	-	-	PUNCT
cblr-13858	1	37	could	could	AUX
cblr-13858	1	38	cause	cause	VERB
cblr-13858	1	39	a	a	DET
cblr-13858	1	40	revolution	revolution	NOUN
cblr-13858	1	41	in	in	ADP
cblr-13858	1	42	small	small	ADJ
cblr-13858	1	43	-	-	PUNCT
cblr-13858	1	44	business	business	NOUN
cblr-13858	1	45	financing	financing	NOUN
cblr-13858	1	46	.	.	PUNCT
cblr-13858	2	1	through	through	ADP
cblr-13858	2	2	crowdfunding	crowdfunding	NOUN
cblr-13858	2	3	,	,	PUNCT
cblr-13858	2	4	smaller	small	ADJ
cblr-13858	2	5	entrepreneurs	entrepreneur	NOUN
cblr-13858	2	6	,	,	PUNCT
cblr-13858	2	7	who	who	PRON
cblr-13858	2	8	traditionally	traditionally	ADV
cblr-13858	2	9	have	have	AUX
cblr-13858	2	10	had	have	VERB
cblr-13858	2	11	great	great	ADJ
cblr-13858	2	12	difficulty	difficulty	NOUN
cblr-13858	2	13	obtaining	obtain	VERB
cblr-13858	2	14	capital	capital	NOUN
cblr-13858	2	15	,	,	PUNCT
cblr-13858	2	16	have	have	VERB
cblr-13858	2	17	access	access	NOUN
cblr-13858	2	18	to	to	ADP
cblr-13858	2	19	anyone	anyone	PRON
cblr-13858	2	20	in	in	ADP
cblr-13858	2	21	the	the	DET
cblr-13858	2	22	world	world	NOUN
cblr-13858	2	23	with	with	ADP
cblr-13858	2	24	a	a	DET
cblr-13858	2	25	computer	computer	NOUN
cblr-13858	2	26	,	,	PUNCT
cblr-13858	2	27	internet	internet	NOUN
cblr-13858	2	28	access	access	NOUN
cblr-13858	2	29	,	,	PUNCT
cblr-13858	2	30	and	and	CCONJ
cblr-13858	2	31	spare	spare	ADJ
cblr-13858	2	32	cash	cash	NOUN
cblr-13858	2	33	to	to	PART
cblr-13858	2	34	invest	invest	VERB
cblr-13858	2	35	.	.	PUNCT
cblr-13858	3	1	crowdfunding	crowdfunde	VERB
cblr-13858	3	2	sites	site	NOUN
cblr-13858	3	3	such	such	ADJ
cblr-13858	3	4	as	as	ADP
cblr-13858	3	5	kiva	kiva	PROPN
cblr-13858	3	6	,	,	PUNCT
cblr-13858	3	7	kickstarter	kickstarter	NOUN
cblr-13858	3	8	,	,	PUNCT
cblr-13858	3	9	and	and	CCONJ
cblr-13858	3	10	indiegogo	indiegogo	NOUN
cblr-13858	3	11	have	have	AUX
cblr-13858	3	12	proliferated	proliferate	VERB
cblr-13858	3	13	,	,	PUNCT
cblr-13858	3	14	and	and	CCONJ
cblr-13858	3	15	the	the	DET
cblr-13858	3	16	amount	amount	NOUN
cblr-13858	3	17	of	of	ADP
cblr-13858	3	18	money	money	NOUN
cblr-13858	3	19	raised	raise	VERB
cblr-13858	3	20	through	through	ADP
cblr-13858	3	21	crowdfunding	crowdfunding	NOUN
cblr-13858	3	22	has	have	AUX
cblr-13858	3	23	grown	grow	VERB
cblr-13858	3	24	to	to	ADP
cblr-13858	3	25	billions	billion	NOUN
cblr-13858	3	26	of	of	ADP
cblr-13858	3	27	dollars	dollar	NOUN
cblr-13858	3	28	in	in	ADP
cblr-13858	3	29	just	just	ADV
cblr-13858	3	30	a	a	DET
cblr-13858	3	31	few	few	ADJ
cblr-13858	3	32	years	year	NOUN
cblr-13858	3	33	.	.	PUNCT
cblr-13858	4	1	crowdfunding	crowdfunding	NOUN
cblr-13858	4	2	poses	pose	VERB
cblr-13858	4	3	two	two	NUM
cblr-13858	4	4	issues	issue	NOUN
cblr-13858	4	5	under	under	ADP
cblr-13858	4	6	federal	federal	ADJ
cblr-13858	4	7	securities	security	NOUN
cblr-13858	4	8	law	law	NOUN
cblr-13858	4	9	.	.	PUNCT
cblr-13858	5	1	first	first	ADV
cblr-13858	5	2	,	,	PUNCT
cblr-13858	5	3	crowdfunding	crowdfunding	NOUN
cblr-13858	5	4	sometimes	sometimes	ADV
cblr-13858	5	5	involves	involve	VERB
cblr-13858	5	6	the	the	DET
cblr-13858	5	7	sale	sale	NOUN
cblr-13858	5	8	of	of	ADP
cblr-13858	5	9	securities	security	NOUN
cblr-13858	5	10	,	,	PUNCT
cblr-13858	5	11	triggering	trigger	VERB
cblr-13858	5	12	the	the	DET
cblr-13858	5	13	registration	registration	NOUN
cblr-13858	5	14	requirements	requirement	NOUN
cblr-13858	5	15	of	of	ADP
cblr-13858	5	16	the	the	DET
cblr-13858	5	17	securities	security	NOUN
cblr-13858	5	18	act	act	NOUN
cblr-13858	5	19	of	of	ADP
cblr-13858	5	20	1933	1933	NUM
cblr-13858	5	21	.	.	PUNCT
cblr-13858	6	1	registration	registration	NOUN
cblr-13858	6	2	is	be	AUX
cblr-13858	6	3	prohibitively	prohibitively	ADV
cblr-13858	6	4	expensive	expensive	ADJ
cblr-13858	6	5	for	for	ADP
cblr-13858	6	6	the	the	DET
cblr-13858	6	7	small	small	ADJ
cblr-13858	6	8	offerings	offering	NOUN
cblr-13858	6	9	that	that	PRON
cblr-13858	6	10	crowdfunding	crowdfunding	NOUN
cblr-13858	6	11	facilitates	facilitate	VERB
cblr-13858	6	12	,	,	PUNCT
cblr-13858	6	13	and	and	CCONJ
cblr-13858	6	14	none	none	NOUN
cblr-13858	6	15	of	of	ADP
cblr-13858	6	16	the	the	DET
cblr-13858	6	17	current	current	ADJ
cblr-13858	6	18	exemptions	exemption	NOUN
cblr-13858	6	19	from	from	ADP
cblr-13858	6	20	registration	registration	NOUN
cblr-13858	6	21	fit	fit	NOUN
cblr-13858	6	22	the	the	DET
cblr-13858	6	23	crowdfunding	crowdfunding	NOUN
cblr-13858	6	24	model	model	NOUN
cblr-13858	6	25	.	.	PUNCT
cblr-13858	7	1	second	second	ADJ
cblr-13858	7	2	,	,	PUNCT
cblr-13858	7	3	the	the	DET
cblr-13858	7	4	web	web	NOUN
cblr-13858	7	5	sites	site	NOUN
cblr-13858	7	6	that	that	PRON
cblr-13858	7	7	facilitate	facilitate	NOUN
cblr-13858	7	8	crowdfunding	crowdfunding	NOUN
cblr-13858	7	9	may	may	AUX
cblr-13858	7	10	be	be	AUX
cblr-13858	7	11	treated	treat	VERB
cblr-13858	7	12	as	as	ADP
cblr-13858	7	13	brokers	broker	NOUN
cblr-13858	7	14	or	or	CCONJ
cblr-13858	7	15	investment	investment	NOUN
cblr-13858	7	16	advisers	adviser	NOUN
cblr-13858	7	17	under	under	ADP
cblr-13858	7	18	the	the	DET
cblr-13858	7	19	ambiguous	ambiguous	ADJ
cblr-13858	7	20	standards	standard	NOUN
cblr-13858	7	21	applied	apply	VERB
cblr-13858	7	22	by	by	ADP
cblr-13858	7	23	the	the	DET
cblr-13858	7	24	sec	sec	PROPN
cblr-13858	7	25	.	.	PUNCT
cblr-13858	8	1	this	this	DET
cblr-13858	8	2	article	article	NOUN
cblr-13858	8	3	considers	consider	VERB
cblr-13858	8	4	the	the	DET
cblr-13858	8	5	costs	cost	NOUN
cblr-13858	8	6	and	and	CCONJ
cblr-13858	8	7	benefits	benefit	NOUN
cblr-13858	8	8	of	of	ADP
cblr-13858	8	9	crowdfunding	crowdfunding	NOUN
cblr-13858	8	10	and	and	CCONJ
cblr-13858	8	11	proposes	propose	VERB
cblr-13858	8	12	an	an	DET
cblr-13858	8	13	exemption	exemption	NOUN
cblr-13858	8	14	that	that	PRON
cblr-13858	8	15	would	would	AUX
cblr-13858	8	16	free	free	VERB
cblr-13858	8	17	crowdfunding	crowdfunding	NOUN
cblr-13858	8	18	from	from	ADP
cblr-13858	8	19	the	the	DET
cblr-13858	8	20	registration	registration	NOUN
cblr-13858	8	21	requirements	requirement	NOUN
cblr-13858	8	22	,	,	PUNCT
cblr-13858	8	23	but	but	CCONJ
cblr-13858	8	24	not	not	PART
cblr-13858	8	25	the	the	DET
cblr-13858	8	26	*	*	PUNCT
cblr-13858	8	27	earl	earl	PROPN
cblr-13858	8	28	dunlap	dunlap	PROPN
cblr-13858	8	29	distinguished	distinguished	PROPN
cblr-13858	8	30	professor	professor	NOUN
cblr-13858	8	31	of	of	ADP
cblr-13858	8	32	law	law	NOUN
cblr-13858	8	33	,	,	PUNCT
cblr-13858	8	34	university	university	PROPN
cblr-13858	8	35	of	of	ADP
cblr-13858	8	36	nebraska	nebraska	PROPN
cblr-13858	8	37	-	-	PROPN
cblr-13858	8	38	lincoln	lincoln	PROPN
cblr-13858	8	39	college	college	PROPN
cblr-13858	8	40	of	of	ADP
cblr-13858	8	41	law	law	NOUN
cblr-13858	8	42	.	.	PUNCT
cblr-13858	9	1	an	an	DET
cblr-13858	9	2	earlier	early	ADJ
cblr-13858	9	3	draft	draft	NOUN
cblr-13858	9	4	of	of	ADP
cblr-13858	9	5	this	this	DET
cblr-13858	9	6	paper	paper	NOUN
cblr-13858	9	7	was	be	AUX
cblr-13858	9	8	presented	present	VERB
cblr-13858	9	9	in	in	ADP
cblr-13858	9	10	a	a	DET
cblr-13858	9	11	colloquium	colloquium	NOUN
cblr-13858	9	12	at	at	ADP
cblr-13858	9	13	the	the	DET
cblr-13858	9	14	university	university	PROPN
cblr-13858	9	15	of	of	ADP
cblr-13858	9	16	nebraska	nebraska	PROPN
cblr-13858	9	17	college	college	PROPN
cblr-13858	9	18	of	of	ADP
cblr-13858	9	19	law	law	NOUN
cblr-13858	9	20	.	.	PUNCT
cblr-13858	10	1	the\author	the\author	NOUN
cblr-13858	10	2	also	also	ADV
cblr-13858	10	3	discussed	discuss	VERB
cblr-13858	10	4	crowdfunding	crowdfunding	NOUN
cblr-13858	10	5	at	at	ADP
cblr-13858	10	6	the	the	DET
cblr-13858	10	7	2011	2011	NUM
cblr-13858	10	8	sec	sec	PROPN
cblr-13858	10	9	governmentbusiness	governmentbusiness	PROPN
cblr-13858	10	10	forum	forum	NOUN
cblr-13858	10	11	on	on	ADP
cblr-13858	10	12	small	small	ADJ
cblr-13858	10	13	business	business	NOUN
cblr-13858	10	14	capital	capital	NOUN
cblr-13858	10	15	formation	formation	NOUN
cblr-13858	10	16	.	.	PUNCT
cblr-13858	11	1	the	the	DET
cblr-13858	11	2	author	author	NOUN
cblr-13858	11	3	writes	write	VERB
cblr-13858	11	4	to	to	PART
cblr-13858	11	5	thank	thank	VERB
cblr-13858	11	6	the	the	DET
cblr-13858	11	7	participants	participant	NOUN
cblr-13858	11	8	in	in	ADP
cblr-13858	11	9	both	both	DET
cblr-13858	11	10	presentations	presentation	NOUN
cblr-13858	11	11	for	for	ADP
cblr-13858	11	12	their	their	PRON
cblr-13858	11	13	helpful	helpful	ADJ
cblr-13858	11	14	comments	comment	NOUN
cblr-13858	11	15	and	and	CCONJ
cblr-13858	11	16	questions	question	NOUN
cblr-13858	11	17	.	.	PUNCT
cblr-13858	12	1	the	the	DET
cblr-13858	12	2	author	author	NOUN
cblr-13858	12	3	also	also	ADV
cblr-13858	12	4	writes	write	VERB
cblr-13858	12	5	to	to	PART
cblr-13858	12	6	thank	thank	VERB
cblr-13858	12	7	victor	victor	PROPN
cblr-13858	12	8	peterson	peterson	PROPN
cblr-13858	12	9	and	and	CCONJ
cblr-13858	12	10	kevin	kevin	PROPN
cblr-13858	12	11	davis	davis	PROPN
cblr-13858	12	12	for	for	ADP
cblr-13858	12	13	comments	comment	NOUN
cblr-13858	12	14	on	on	ADP
cblr-13858	12	15	an	an	DET
cblr-13858	12	16	earlier	early	ADJ
cblr-13858	12	17	draft	draft	NOUN
cblr-13858	12	18	.	.	PUNCT
cblr-13858	13	1	finally	finally	ADV
cblr-13858	13	2	,	,	PUNCT
cblr-13858	13	3	the	the	DET
cblr-13858	13	4	author	author	NOUN
cblr-13858	13	5	writes	write	VERB
cblr-13858	13	6	to	to	PART
cblr-13858	13	7	thank	thank	VERB
cblr-13858	13	8	the	the	DET
cblr-13858	13	9	research	research	NOUN
cblr-13858	13	10	assistants	assistant	NOUN
cblr-13858	13	11	who	who	PRON
cblr-13858	13	12	worked	work	VERB
cblr-13858	13	13	on	on	ADP
cblr-13858	13	14	this	this	DET
cblr-13858	13	15	article	article	NOUN
cblr-13858	13	16	:	:	PUNCT
cblr-13858	13	17	daniel	daniel	PROPN
cblr-13858	13	18	hendrix	hendrix	PROPN
cblr-13858	13	19	and	and	CCONJ
cblr-13858	13	20	,	,	PUNCT
cblr-13858	13	21	especially	especially	ADV
cblr-13858	13	22	,	,	PUNCT
cblr-13858	13	23	katharine	katharine	PROPN
cblr-13858	13	24	collins	collins	PROPN
cblr-13858	13	25	.	.	PUNCT
cblr-13858	14	1	their	their	PRON
cblr-13858	14	2	work	work	NOUN
cblr-13858	14	3	improved	improve	VERB
cblr-13858	14	4	the	the	DET
cblr-13858	14	5	final	final	ADJ
cblr-13858	14	6	article	article	NOUN
cblr-13858	14	7	immeasurably	immeasurably	ADV
cblr-13858	14	8	and	and	CCONJ
cblr-13858	14	9	made	make	VERB
cblr-13858	14	10	the	the	DET
cblr-13858	14	11	author	author	NOUN
cblr-13858	14	12	's	's	PART
cblr-13858	14	13	work	work	NOUN
cblr-13858	14	14	much	much	ADV
cblr-13858	14	15	easier	easy	ADJ
cblr-13858	14	16	.	.	PUNCT
cblr-13858	15	1	columbia	columbia	PROPN
cblr-13858	15	2	business	business	PROPN
cblr-13858	15	3	law	law	PROPN
cblr-13858	15	4	review	review	VERB
cblr-13858	15	5	antifraud	antifraud	PROPN
cblr-13858	15	6	provisions	provision	NOUN
cblr-13858	15	7	,	,	PUNCT
cblr-13858	15	8	of	of	ADP
cblr-13858	15	9	federal	federal	ADJ
cblr-13858	15	10	securities	security	NOUN
cblr-13858	15	11	law	law	NOUN
cblr-13858	15	12	.	.	PUNCT
cblr-13858	16	1	securities	security	NOUN
cblr-13858	16	2	offerings	offering	NOUN
cblr-13858	16	3	for	for	ADP
cblr-13858	16	4	an	an	DET
cblr-13858	16	5	amount	amount	NOUN
cblr-13858	16	6	less	less	ADJ
cblr-13858	16	7	than	than	ADP
cblr-13858	16	8	$	$	SYM
cblr-13858	16	9	250,000	250,000	NUM
cblr-13858	16	10	-	-	SYM
cblr-13858	16	11	500,000	500,000	NUM
cblr-13858	16	12	would	would	AUX
cblr-13858	16	13	be	be	AUX
cblr-13858	16	14	exempted	exempt	VERB
cblr-13858	16	15	if	if	SCONJ
cblr-13858	16	16	(	(	PUNCT
cblr-13858	16	17	1	1	X
cblr-13858	16	18	)	)	PUNCT
cblr-13858	16	19	each	each	DET
cblr-13858	16	20	investor	investor	NOUN
cblr-13858	16	21	invests	invest	VERB
cblr-13858	16	22	no	no	PRON
cblr-13858	16	23	more	more	ADJ
cblr-13858	16	24	than	than	ADP
cblr-13858	16	25	the	the	DET
cblr-13858	16	26	greater	great	ADJ
cblr-13858	16	27	of	of	ADP
cblr-13858	16	28	$	$	SYM
cblr-13858	16	29	500	500	NUM
cblr-13858	16	30	or	or	CCONJ
cblr-13858	16	31	2	2	NUM
cblr-13858	16	32	%	%	NOUN
cblr-13858	16	33	of	of	ADP
cblr-13858	16	34	the	the	DET
cblr-13858	16	35	investor	investor	NOUN
cblr-13858	16	36	's	's	PART
cblr-13858	16	37	annual	annual	ADJ
cblr-13858	16	38	income	income	NOUN
cblr-13858	16	39	;	;	PUNCT
cblr-13858	16	40	and	and	CCONJ
cblr-13858	16	41	(	(	PUNCT
cblr-13858	16	42	2	2	X
cblr-13858	16	43	)	)	PUNCT
cblr-13858	16	44	the	the	DET
cblr-13858	16	45	offering	offering	NOUN
cblr-13858	16	46	is	be	AUX
cblr-13858	16	47	made	make	VERB
cblr-13858	16	48	on	on	ADP
cblr-13858	16	49	an	an	DET
cblr-13858	16	50	internet	internet	NOUN
cblr-13858	16	51	crowdfunding	crowdfunding	NOUN
cblr-13858	16	52	site	site	NOUN
cblr-13858	16	53	that	that	PRON
cblr-13858	16	54	meets	meet	VERB
cblr-13858	16	55	the	the	DET
cblr-13858	16	56	exemption	exemption	NOUN
cblr-13858	16	57	's	's	PART
cblr-13858	16	58	requirements	requirement	NOUN
cblr-13858	16	59	.	.	PUNCT
cblr-13858	17	1	to	to	PART
cblr-13858	17	2	qualify	qualify	VERB
cblr-13858	17	3	for	for	ADP
cblr-13858	17	4	the	the	DET
cblr-13858	17	5	exemption	exemption	NOUN
cblr-13858	17	6	,	,	PUNCT
cblr-13858	17	7	crowdfunding	crowdfunding	NOUN
cblr-13858	17	8	sites	site	NOUN
cblr-13858	17	9	would	would	AUX
cblr-13858	17	10	have	have	VERB
cblr-13858	17	11	to	to	PART
cblr-13858	17	12	:	:	PUNCT
cblr-13858	17	13	(	(	PUNCT
cblr-13858	17	14	1	1	X
cblr-13858	17	15	)	)	PUNCT
cblr-13858	17	16	be	be	AUX
cblr-13858	17	17	open	open	ADJ
cblr-13858	17	18	to	to	ADP
cblr-13858	17	19	the	the	DET
cblr-13858	17	20	general	general	ADJ
cblr-13858	17	21	public	public	NOUN
cblr-13858	17	22	;	;	PUNCT
cblr-13858	17	23	(	(	PUNCT
cblr-13858	17	24	2	2	X
cblr-13858	17	25	)	)	PUNCT
cblr-13858	17	26	provide	provide	VERB
cblr-13858	17	27	public	public	ADJ
cblr-13858	17	28	communication	communication	NOUN
cblr-13858	17	29	portals	portal	NOUN
cblr-13858	17	30	for	for	ADP
cblr-13858	17	31	investors	investor	NOUN
cblr-13858	17	32	and	and	CCONJ
cblr-13858	17	33	potential	potential	ADJ
cblr-13858	17	34	investors	investor	NOUN
cblr-13858	17	35	;	;	PUNCT
cblr-13858	17	36	(	(	PUNCT
cblr-13858	17	37	3	3	X
cblr-13858	17	38	)	)	PUNCT
cblr-13858	17	39	require	require	VERB
cblr-13858	17	40	investors	investor	NOUN
cblr-13858	17	41	to	to	PART
cblr-13858	17	42	fulfill	fulfill	VERB
cblr-13858	17	43	a	a	DET
cblr-13858	17	44	simple	simple	ADJ
cblr-13858	17	45	education	education	NOUN
cblr-13858	17	46	requirement	requirement	NOUN
cblr-13858	17	47	before	before	ADP
cblr-13858	17	48	investing	invest	VERB
cblr-13858	17	49	;	;	PUNCT
cblr-13858	17	50	(	(	PUNCT
cblr-13858	17	51	4	4	X
cblr-13858	17	52	)	)	PUNCT
cblr-13858	17	53	prohibit	prohibit	VERB
cblr-13858	17	54	certain	certain	ADJ
cblr-13858	17	55	conflicts	conflict	NOUN
cblr-13858	17	56	of	of	ADP
cblr-13858	17	57	interest	interest	NOUN
cblr-13858	17	58	;	;	PUNCT
cblr-13858	17	59	(	(	PUNCT
cblr-13858	17	60	5	5	X
cblr-13858	17	61	)	)	PUNCT
cblr-13858	17	62	offer	offer	VERB
cblr-13858	17	63	no	no	DET
cblr-13858	17	64	investment	investment	NOUN
cblr-13858	17	65	advice	advice	NOUN
cblr-13858	17	66	or	or	CCONJ
cblr-13858	17	67	recommendations	recommendation	NOUN
cblr-13858	17	68	;	;	PUNCT
cblr-13858	17	69	and	and	CCONJ
cblr-13858	17	70	(	(	PUNCT
cblr-13858	17	71	6	6	X
cblr-13858	17	72	)	)	PUNCT
cblr-13858	17	73	notify	notify	VERB
cblr-13858	17	74	the	the	DET
cblr-13858	17	75	sec	sec	PROPN
cblr-13858	17	76	that	that	SCONJ
cblr-13858	17	77	they	they	PRON
cblr-13858	17	78	are	be	AUX
cblr-13858	17	79	hosting	host	VERB
cblr-13858	17	80	crowdfunding	crowdfunde	VERB
cblr-13858	17	81	offerings	offering	NOUN
cblr-13858	17	82	.	.	PUNCT
cblr-13858	18	1	sites	site	NOUN
cblr-13858	18	2	that	that	PRON
cblr-13858	18	3	meet	meet	VERB
cblr-13858	18	4	these	these	DET
cblr-13858	18	5	requirements	requirement	NOUN
cblr-13858	18	6	would	would	AUX
cblr-13858	18	7	not	not	PART
cblr-13858	18	8	be	be	AUX
cblr-13858	18	9	treated	treat	VERB
cblr-13858	18	10	as	as	ADP
cblr-13858	18	11	brokers	broker	NOUN
cblr-13858	18	12	or	or	CCONJ
cblr-13858	18	13	investment	investment	NOUN
cblr-13858	18	14	advisers	adviser	NOUN
cblr-13858	18	15	.	.	PUNCT
cblr-13858	19	1	i.	i.	PROPN
cblr-13858	19	2	introduction	introduction	NOUN
cblr-13858	19	3	......................	......................	PUNCT
cblr-13858	20	1	.........	.........	PUNCT
cblr-13858	20	2	5	5	NUM
cblr-13858	20	3	ii	ii	NOUN
cblr-13858	20	4	.	.	PUNCT
cblr-13858	21	1	an	an	DET
cblr-13858	21	2	introduction	introduction	NOUN
cblr-13858	21	3	to	to	ADP
cblr-13858	21	4	crowdfunding	crowdfunde	VERB
cblr-13858	21	5	......	......	PUNCT
cblr-13858	22	1	........	........	PUNCT
cblr-13858	23	1	10	10	NUM
cblr-13858	23	2	a.	a.	NOUN
cblr-13858	23	3	what	what	PRON
cblr-13858	23	4	is	be	AUX
cblr-13858	23	5	crowdfunding	crowdfunde	VERB
cblr-13858	23	6	?	?	PUNCT
cblr-13858	23	7	.	.	PUNCT
cblr-13858	23	8	...	...	PUNCT
cblr-13858	24	1	..	..	PUNCT
cblr-13858	24	2	.	.	PUNCT
cblr-13858	24	3	.	.	PUNCT
cblr-13858	24	4	.	.	PUNCT
cblr-13858	24	5	.	.	PUNCT
cblr-13858	24	6	.	.	PUNCT
cblr-13858	24	7	.	.	PUNCT
cblr-13858	24	8	.	.	PUNCT
cblr-13858	24	9	.	.	PUNCT
cblr-13858	24	10	.	.	PUNCT
cblr-13858	24	11	.	.	PUNCT
cblr-13858	24	12	.	.	PUNCT
cblr-13858	24	13	.	.	PUNCT
cblr-13858	24	14	.	.	PUNCT
cblr-13858	25	1	.	.	PUNCT
cblr-13858	26	1	10	10	NUM
cblr-13858	26	2	b.	b.	NOUN
cblr-13858	26	3	types	type	NOUN
cblr-13858	26	4	of	of	ADP
cblr-13858	26	5	crowdfunding	crowdfunding	NOUN
cblr-13858	26	6	....................	....................	PUNCT
cblr-13858	26	7	14	14	NUM
cblr-13858	26	8	1	1	NUM
cblr-13858	26	9	.	.	PUNCT
cblr-13858	27	1	donation	donation	NOUN
cblr-13858	27	2	sites	site	NOUN
cblr-13858	27	3	...........	...........	PUNCT
cblr-13858	27	4	............	............	PUNCT
cblr-13858	27	5	15	15	NUM
cblr-13858	27	6	2	2	NUM
cblr-13858	27	7	.	.	PUNCT
cblr-13858	27	8	reward	reward	NOUN
cblr-13858	27	9	and	and	CCONJ
cblr-13858	27	10	pre	pre	ADJ
cblr-13858	27	11	-	-	ADJ
cblr-13858	27	12	purchase	purchase	ADJ
cblr-13858	27	13	sites	site	NOUN
cblr-13858	27	14	.....	.....	PUNCT
cblr-13858	28	1	.....	.....	PUNCT
cblr-13858	29	1	16	16	NUM
cblr-13858	29	2	3	3	X
cblr-13858	29	3	.	.	PUNCT
cblr-13858	29	4	lending	lending	NOUN
cblr-13858	29	5	sites	site	NOUN
cblr-13858	29	6	(	(	PUNCT
cblr-13858	29	7	peer	peer	NOUN
cblr-13858	29	8	-	-	PUNCT
cblr-13858	29	9	to	to	ADP
cblr-13858	29	10	-	-	PUNCT
cblr-13858	29	11	peer	peer	NOUN
cblr-13858	29	12	lending	lending	NOUN
cblr-13858	29	13	)	)	PUNCT
cblr-13858	29	14	......	......	PUNCT
cblr-13858	30	1	20	20	NUM
cblr-13858	30	2	a.	a.	NOUN
cblr-13858	30	3	sites	site	NOUN
cblr-13858	30	4	not	not	PART
cblr-13858	30	5	offering	offer	VERB
cblr-13858	30	6	interest	interest	NOUN
cblr-13858	30	7	.	.	PUNCT
cblr-13858	31	1	...........	...........	PUNCT
cblr-13858	32	1	20	20	NUM
cblr-13858	32	2	b.	b.	NOUN
cblr-13858	32	3	sites	site	NOUN
cblr-13858	32	4	offering	offer	VERB
cblr-13858	32	5	interest	interest	NOUN
cblr-13858	32	6	....	....	PUNCT
cblr-13858	32	7	................	................	PUNCT
cblr-13858	33	1	21	21	NUM
cblr-13858	33	2	4	4	NUM
cblr-13858	33	3	.	.	PUNCT
cblr-13858	33	4	equity	equity	NOUN
cblr-13858	33	5	sites	site	NOUN
cblr-13858	33	6	.........................	.........................	PUNCT
cblr-13858	33	7	24	24	NUM
cblr-13858	33	8	c.	c.	NOUN
cblr-13858	33	9	the	the	DET
cblr-13858	33	10	antecedents	antecedent	NOUN
cblr-13858	33	11	of	of	ADP
cblr-13858	33	12	crowdfunding	crowdfunde	VERB
cblr-13858	33	13	....................	....................	PUNCT
cblr-13858	33	14	27	27	NUM
cblr-13858	33	15	iii	iii	NOUN
cblr-13858	33	16	.	.	PROPN
cblr-13858	33	17	are	be	AUX
cblr-13858	33	18	crowdfunding	crowdfunde	VERB
cblr-13858	33	19	investments	investment	NOUN
cblr-13858	33	20	subject	subject	ADJ
cblr-13858	33	21	to	to	ADP
cblr-13858	33	22	the	the	DET
cblr-13858	33	23	registration	registration	NOUN
cblr-13858	33	24	requirements	requirement	NOUN
cblr-13858	33	25	of	of	ADP
cblr-13858	33	26	the	the	DET
cblr-13858	33	27	securities	security	NOUN
cblr-13858	33	28	act	act	PROPN
cblr-13858	33	29	?	?	PUNCT
cblr-13858	33	30	...	...	PUNCT
cblr-13858	34	1	...	...	PUNCT
cblr-13858	35	1	29	29	NUM
cblr-13858	35	2	a.	a.	NOUN
cblr-13858	35	3	are	be	AUX
cblr-13858	35	4	crowdfunding	crowdfunde	VERB
cblr-13858	35	5	investments	investment	NOUN
cblr-13858	35	6	securities	security	NOUN
cblr-13858	35	7	?	?	PUNCT
cblr-13858	35	8	.	.	PUNCT
cblr-13858	35	9	.	.	PUNCT
cblr-13858	36	1	...	...	PUNCT
cblr-13858	37	1	30	30	NUM
cblr-13858	37	2	1	1	NUM
cblr-13858	37	3	.	.	PUNCT
cblr-13858	38	1	the	the	DET
cblr-13858	38	2	donation	donation	NOUN
cblr-13858	38	3	model	model	NOUN
cblr-13858	38	4	....................	....................	PUNCT
cblr-13858	38	5	31	31	NUM
cblr-13858	38	6	2	2	NUM
cblr-13858	38	7	.	.	PUNCT
cblr-13858	39	1	the	the	DET
cblr-13858	39	2	reward	reward	NOUN
cblr-13858	39	3	and	and	CCONJ
cblr-13858	39	4	pre	pre	ADJ
cblr-13858	39	5	-	-	ADJ
cblr-13858	39	6	purchase	purchase	NOUN
cblr-13858	39	7	models	model	NOUN
cblr-13858	39	8	........	........	PUNCT
cblr-13858	40	1	32	32	NUM
cblr-13858	40	2	3	3	NUM
cblr-13858	40	3	.	.	PUNCT
cblr-13858	41	1	the	the	DET
cblr-13858	41	2	equity	equity	NOUN
cblr-13858	41	3	model	model	PROPN
cblr-13858	41	4	..........................	..........................	PROPN
cblr-13858	41	5	33	33	NUM
cblr-13858	41	6	4	4	NUM
cblr-13858	41	7	.	.	PUNCT
cblr-13858	42	1	the	the	DET
cblr-13858	42	2	lending	lending	NOUN
cblr-13858	42	3	model	model	NOUN
cblr-13858	42	4	...................	...................	PROPN
cblr-13858	42	5	34	34	NUM
cblr-13858	42	6	b.	b.	NOUN
cblr-13858	42	7	registration	registration	NOUN
cblr-13858	42	8	and	and	CCONJ
cblr-13858	42	9	exemption	exemption	NOUN
cblr-13858	42	10	of	of	ADP
cblr-13858	42	11	crowdfunded	crowdfunde	VERB
cblr-13858	42	12	securities	security	NOUN
cblr-13858	42	13	offerings	offering	NOUN
cblr-13858	42	14	...................	...................	PUNCT
cblr-13858	43	1	42	42	NUM
cblr-13858	43	2	1	1	NUM
cblr-13858	43	3	.	.	PUNCT
cblr-13858	43	4	registration	registration	NOUN
cblr-13858	43	5	................	................	PUNCT
cblr-13858	43	6	.........	.........	PUNCT
cblr-13858	44	1	42	42	NUM
cblr-13858	44	2	2	2	NUM
cblr-13858	44	3	.	.	PUNCT
cblr-13858	44	4	possible	possible	ADJ
cblr-13858	44	5	exemptions	exemption	NOUN
cblr-13858	44	6	under	under	ADP
cblr-13858	44	7	current	current	ADJ
cblr-13858	44	8	law	law	NOUN
cblr-13858	44	9	......	......	PUNCT
cblr-13858	44	10	44	44	NUM
cblr-13858	44	11	a.	a.	NOUN
cblr-13858	44	12	section	section	NOUN
cblr-13858	44	13	4(2	4(2	NUM
cblr-13858	44	14	)	)	PUNCT
cblr-13858	44	15	,	,	PUNCT
cblr-13858	44	16	rule	rule	VERB
cblr-13858	44	17	506	506	NUM
cblr-13858	44	18	,	,	PUNCT
cblr-13858	44	19	and	and	CCONJ
cblr-13858	44	20	section	section	NOUN
cblr-13858	44	21	4(5	4(5	PROPN
cblr-13858	44	22	)	)	PUNCT
cblr-13858	44	23	....	....	PUNCT
cblr-13858	45	1	45	45	NUM
cblr-13858	45	2	2	2	NUM
cblr-13858	45	3	[	[	X
cblr-13858	45	4	vol	vol	NOUN
cblr-13858	45	5	.	.	NOUN
cblr-13858	45	6	2012	2012	NUM
cblr-13858	45	7	b.	b.	PROPN
cblr-13858	45	8	rule	rule	PROPN
cblr-13858	45	9	505	505	NUM
cblr-13858	45	10	....................	....................	PUNCT
cblr-13858	46	1	.....	.....	PUNCT
cblr-13858	47	1	47	47	NUM
cblr-13858	47	2	c.	c.	NOUN
cblr-13858	47	3	rule	rule	VERB
cblr-13858	47	4	504	504	NUM
cblr-13858	47	5	...................	...................	PUNCT
cblr-13858	47	6	......	......	PUNCT
cblr-13858	48	1	47	47	NUM
cblr-13858	48	2	d.	d.	PROPN
cblr-13858	48	3	regulation	regulation	PROPN
cblr-13858	48	4	a	a	PRON
cblr-13858	48	5	...............	...............	PUNCT
cblr-13858	48	6	.......	.......	PUNCT
cblr-13858	49	1	48	48	NUM
cblr-13858	49	2	iv	iv	NOUN
cblr-13858	49	3	.	.	PUNCT
cblr-13858	50	1	the	the	DET
cblr-13858	50	2	status	status	NOUN
cblr-13858	50	3	of	of	ADP
cblr-13858	50	4	crowdfunding	crowdfunde	VERB
cblr-13858	50	5	sites	site	NOUN
cblr-13858	50	6	under	under	ADP
cblr-13858	50	7	federal	federal	ADJ
cblr-13858	50	8	securities	security	NOUN
cblr-13858	50	9	law	law	NOUN
cblr-13858	50	10	.....................	.....................	PUNCT
cblr-13858	50	11	.......	.......	PUNCT
cblr-13858	51	1	49	49	NUM
cblr-13858	51	2	a.	a.	NOUN
cblr-13858	51	3	are	be	AUX
cblr-13858	51	4	crowdfunding	crowdfunde	VERB
cblr-13858	51	5	sites	site	NOUN
cblr-13858	51	6	exchanges	exchange	NOUN
cblr-13858	51	7	?	?	PUNCT
cblr-13858	51	8	.	.	PUNCT
cblr-13858	51	9	.	.	PUNCT
cblr-13858	51	10	.	.	PUNCT
cblr-13858	51	11	.	.	PUNCT
cblr-13858	51	12	.	.	PUNCT
cblr-13858	51	13	.	.	PUNCT
cblr-13858	51	14	.	.	PUNCT
cblr-13858	51	15	.	.	PUNCT
cblr-13858	52	1	.	.	PUNCT
cblr-13858	53	1	50	50	NUM
cblr-13858	53	2	b.	b.	NOUN
cblr-13858	53	3	are	be	AUX
cblr-13858	53	4	crowdfunding	crowdfunde	VERB
cblr-13858	53	5	sites	site	NOUN
cblr-13858	53	6	brokers	broker	NOUN
cblr-13858	53	7	?	?	PUNCT
cblr-13858	53	8	.	.	PUNCT
cblr-13858	53	9	.	.	PUNCT
cblr-13858	53	10	.	.	PUNCT
cblr-13858	53	11	.	.	PUNCT
cblr-13858	53	12	.	.	PUNCT
cblr-13858	53	13	.	.	PUNCT
cblr-13858	53	14	.	.	PUNCT
cblr-13858	53	15	.	.	PUNCT
cblr-13858	53	16	.	.	PUNCT
cblr-13858	53	17	.	.	PUNCT
cblr-13858	53	18	.	.	PUNCT
cblr-13858	54	1	51	51	NUM
cblr-13858	54	2	1	1	NUM
cblr-13858	54	3	.	.	PUNCT
cblr-13858	54	4	engaged	engage	VERB
cblr-13858	54	5	in	in	ADP
cblr-13858	54	6	the	the	DET
cblr-13858	54	7	business	business	NOUN
cblr-13858	54	8	.......	.......	PUNCT
cblr-13858	55	1	.........	.........	PUNCT
cblr-13858	56	1	53	53	NUM
cblr-13858	56	2	2	2	NUM
cblr-13858	56	3	.	.	PUNCT
cblr-13858	56	4	effecting	effect	VERB
cblr-13858	56	5	transactions	transaction	NOUN
cblr-13858	56	6	in	in	ADP
cblr-13858	56	7	securities	security	NOUN
cblr-13858	56	8	............	............	PUNCT
cblr-13858	56	9	54	54	NUM
cblr-13858	56	10	a.	a.	NOUN
cblr-13858	56	11	general	general	ADJ
cblr-13858	56	12	guidance	guidance	NOUN
cblr-13858	56	13	.............	.............	PUNCT
cblr-13858	57	1	.....	.....	PUNCT
cblr-13858	57	2	54	54	NUM
cblr-13858	57	3	b.	b.	PROPN
cblr-13858	57	4	transaction	transaction	NOUN
cblr-13858	57	5	-	-	PUNCT
cblr-13858	57	6	based	base	VERB
cblr-13858	57	7	compensation	compensation	NOUN
cblr-13858	57	8	..........	..........	PUNCT
cblr-13858	58	1	56	56	NUM
cblr-13858	58	2	c.	c.	NOUN
cblr-13858	58	3	involvement	involvement	NOUN
cblr-13858	58	4	in	in	ADP
cblr-13858	58	5	the	the	DET
cblr-13858	58	6	transactions	transaction	NOUN
cblr-13858	58	7	............	............	PUNCT
cblr-13858	58	8	61	61	NUM
cblr-13858	58	9	i.	i.	NOUN
cblr-13858	58	10	providing	provide	VERB
cblr-13858	58	11	advice	advice	NOUN
cblr-13858	58	12	or	or	CCONJ
cblr-13858	58	13	recommendations	recommendation	NOUN
cblr-13858	58	14	...............	...............	PUNCT
cblr-13858	58	15	61	61	NUM
cblr-13858	58	16	ii	ii	NOUN
cblr-13858	58	17	.	.	PUNCT
cblr-13858	59	1	structuring	structure	VERB
cblr-13858	59	2	the	the	DET
cblr-13858	59	3	transaction	transaction	NOUN
cblr-13858	59	4	..............	..............	PUNCT
cblr-13858	60	1	63	63	NUM
cblr-13858	60	2	iii	iii	NOUN
cblr-13858	60	3	.	.	PUNCT
cblr-13858	60	4	receipt	receipt	NOUN
cblr-13858	60	5	or	or	CCONJ
cblr-13858	60	6	transmission	transmission	NOUN
cblr-13858	60	7	of	of	ADP
cblr-13858	60	8	funds	fund	NOUN
cblr-13858	60	9	/	/	SYM
cblr-13858	60	10	continued	continue	VERB
cblr-13858	60	11	involvement	involvement	NOUN
cblr-13858	60	12	after	after	ADP
cblr-13858	60	13	the	the	DET
cblr-13858	60	14	financing	financing	NOUN
cblr-13858	60	15	................	................	PUNCT
cblr-13858	60	16	......	......	PUNCT
cblr-13858	61	1	63	63	NUM
cblr-13858	61	2	iv	iv	NOUN
cblr-13858	61	3	.	.	PUNCT
cblr-13858	61	4	involvement	involvement	NOUN
cblr-13858	61	5	in	in	ADP
cblr-13858	61	6	negotiations	negotiation	NOUN
cblr-13858	61	7	.............	.............	PUNCT
cblr-13858	61	8	64	64	NUM
cblr-13858	61	9	d.	d.	NOUN
cblr-13858	61	10	solicitation	solicitation	NOUN
cblr-13858	61	11	and	and	CCONJ
cblr-13858	61	12	advertising	advertising	NOUN
cblr-13858	61	13	..	..	PUNCT
cblr-13858	61	14	........	........	PUNCT
cblr-13858	62	1	64	64	NUM
cblr-13858	62	2	e.	e.	PROPN
cblr-13858	62	3	for	for	ADP
cblr-13858	62	4	-	-	PUNCT
cblr-13858	62	5	profit	profit	NOUN
cblr-13858	62	6	status	status	NOUN
cblr-13858	62	7	..	..	PUNCT
cblr-13858	62	8	.................	.................	PUNCT
cblr-13858	63	1	66	66	NUM
cblr-13858	63	2	3	3	NUM
cblr-13858	63	3	.	.	PUNCT
cblr-13858	63	4	conclusion	conclusion	NOUN
cblr-13858	63	5	:	:	PUNCT
cblr-13858	63	6	would	would	AUX
cblr-13858	63	7	crowdfunding	crowdfunde	VERB
cblr-13858	63	8	sites	site	NOUN
cblr-13858	63	9	be	be	AUX
cblr-13858	63	10	brokers	broker	NOUN
cblr-13858	63	11	?	?	PUNCT
cblr-13858	63	12	.......	.......	PUNCT
cblr-13858	64	1	66	66	NUM
cblr-13858	64	2	c.	c.	NOUN
cblr-13858	64	3	are	be	AUX
cblr-13858	64	4	crowdfunding	crowdfunde	VERB
cblr-13858	64	5	sites	site	NOUN
cblr-13858	64	6	investment	investment	NOUN
cblr-13858	64	7	advisers	adviser	NOUN
cblr-13858	64	8	?	?	PUNCT
cblr-13858	64	9	...	...	PUNCT
cblr-13858	65	1	67	67	NUM
cblr-13858	65	2	1	1	NUM
cblr-13858	65	3	.	.	PUNCT
cblr-13858	66	1	the	the	DET
cblr-13858	66	2	general	general	ADJ
cblr-13858	66	3	definition	definition	NOUN
cblr-13858	66	4	of	of	ADP
cblr-13858	66	5	investment	investment	NOUN
cblr-13858	66	6	adviser	adviser	NOUN
cblr-13858	66	7	.......................	.......................	PUNCT
cblr-13858	67	1	.....	.....	PUNCT
cblr-13858	68	1	67	67	NUM
cblr-13858	68	2	2	2	NUM
cblr-13858	68	3	.	.	PUNCT
cblr-13858	69	1	in	in	ADP
cblr-13858	69	2	the	the	DET
cblr-13858	69	3	business	business	NOUN
cblr-13858	69	4	.................	.................	PUNCT
cblr-13858	69	5	68	68	NUM
cblr-13858	69	6	3	3	NUM
cblr-13858	69	7	.	.	X
cblr-13858	70	1	for	for	ADP
cblr-13858	70	2	compensation	compensation	NOUN
cblr-13858	70	3	...............	...............	PUNCT
cblr-13858	71	1	.....	.....	PUNCT
cblr-13858	72	1	69	69	NUM
cblr-13858	72	2	4	4	NUM
cblr-13858	72	3	.	.	PUNCT
cblr-13858	72	4	advice	advice	NOUN
cblr-13858	72	5	,	,	PUNCT
cblr-13858	72	6	analyses	analysis	NOUN
cblr-13858	72	7	,	,	PUNCT
cblr-13858	72	8	or	or	CCONJ
cblr-13858	72	9	reports	report	NOUN
cblr-13858	72	10	concerning	concern	VERB
cblr-13858	72	11	securities	security	NOUN
cblr-13858	72	12	.....................	.....................	PUNCT
cblr-13858	72	13	......	......	PUNCT
cblr-13858	73	1	69	69	NUM
cblr-13858	73	2	5	5	NUM
cblr-13858	73	3	.	.	PUNCT
cblr-13858	74	1	sec	sec	PROPN
cblr-13858	74	2	no	no	DET
cblr-13858	74	3	-	-	PUNCT
cblr-13858	74	4	action	action	NOUN
cblr-13858	74	5	letters	letter	NOUN
cblr-13858	74	6	.......	.......	PUNCT
cblr-13858	75	1	..........	..........	PUNCT
cblr-13858	76	1	73	73	NUM
cblr-13858	76	2	6	6	NUM
cblr-13858	76	3	.	.	PUNCT
cblr-13858	77	1	the	the	DET
cblr-13858	77	2	publisher	publisher	NOUN
cblr-13858	77	3	exception	exception	NOUN
cblr-13858	77	4	...........	...........	PUNCT
cblr-13858	78	1	.....	.....	PUNCT
cblr-13858	78	2	77	77	NUM
cblr-13858	78	3	v.	v.	ADP
cblr-13858	78	4	proposals	proposal	NOUN
cblr-13858	78	5	to	to	PART
cblr-13858	78	6	exempt	exempt	VERB
cblr-13858	78	7	crowdfunding	crowdfunding	NOUN
cblr-13858	78	8	.........................	.........................	PUNCT
cblr-13858	79	1	81	81	NUM
cblr-13858	79	2	a.	a.	NOUN
cblr-13858	79	3	the	the	DET
cblr-13858	79	4	sustainable	sustainable	ADJ
cblr-13858	79	5	economies	economy	NOUN
cblr-13858	79	6	law	law	NOUN
cblr-13858	79	7	center	center	NOUN
cblr-13858	79	8	petition	petition	NOUN
cblr-13858	79	9	...............................	...............................	PUNCT
cblr-13858	80	1	81	81	NUM
cblr-13858	80	2	b.	b.	NOUN
cblr-13858	80	3	the	the	DET
cblr-13858	80	4	small	small	ADJ
cblr-13858	80	5	business	business	NOUN
cblr-13858	80	6	&	&	CCONJ
cblr-13858	80	7	entrepreneurship	entrepreneurship	PROPN
cblr-13858	80	8	council	council	NOUN
cblr-13858	80	9	proposal	proposal	NOUN
cblr-13858	80	10	.........	.........	PUNCT
cblr-13858	80	11	...............	...............	PUNCT
cblr-13858	80	12	83	83	NUM
cblr-13858	80	13	c.	c.	NOUN
cblr-13858	80	14	the	the	DET
cblr-13858	80	15	startup	startup	NOUN
cblr-13858	80	16	exemption	exemption	NOUN
cblr-13858	80	17	proposal	proposal	NOUN
cblr-13858	80	18	.	.	PUNCT
cblr-13858	81	1	............	............	PUNCT
cblr-13858	82	1	84	84	NUM
cblr-13858	82	2	d.	d.	NOUN
cblr-13858	82	3	the	the	DET
cblr-13858	82	4	white	white	PROPN
cblr-13858	82	5	house	house	PROPN
cblr-13858	82	6	endorsement	endorsement	PROPN
cblr-13858	82	7	.....	.....	PUNCT
cblr-13858	82	8	........	........	PUNCT
cblr-13858	83	1	84	84	NUM
cblr-13858	83	2	crowdfunding	crowdfunding	NOUN
cblr-13858	83	3	and	and	CCONJ
cblr-13858	83	4	securities	security	NOUN
cblr-13858	83	5	la	la	PRON
cblr-13858	83	6	ws	ws	PROPN
cblr-13858	83	7	3no	3no	NOUN
cblr-13858	83	8	.	.	PUNCT
cblr-13858	84	1	1:11	1:11	NUM
cblr-13858	84	2	columbia	columbia	PROPN
cblr-13858	84	3	business	business	NOUN
cblr-13858	84	4	law	law	PROPN
cblr-13858	84	5	review	review	VERB
cblr-13858	84	6	e.	e.	PROPN
cblr-13858	84	7	sec	sec	PROPN
cblr-13858	84	8	activity	activity	NOUN
cblr-13858	84	9	............................	............................	PUNCT
cblr-13858	84	10	85	85	NUM
cblr-13858	84	11	f.	f.	PROPN
cblr-13858	84	12	the	the	DET
cblr-13858	84	13	sec	sec	PROPN
cblr-13858	84	14	's	's	PART
cblr-13858	84	15	authority	authority	NOUN
cblr-13858	84	16	to	to	PART
cblr-13858	84	17	exempt	exempt	VERB
cblr-13858	84	18	crowdfunding	crowdfunding	NOUN
cblr-13858	84	19	...	...	PUNCT
cblr-13858	84	20	87	87	NUM
cblr-13858	84	21	g.	g.	NOUN
cblr-13858	84	22	the	the	DET
cblr-13858	84	23	congressional	congressional	ADJ
cblr-13858	84	24	response	response	NOUN
cblr-13858	84	25	...............	...............	PUNCT
cblr-13858	85	1	88	88	NUM
cblr-13858	85	2	1	1	NUM
cblr-13858	85	3	.	.	PUNCT
cblr-13858	85	4	house	house	NOUN
cblr-13858	85	5	bill	bill	PROPN
cblr-13858	85	6	2930	2930	NUM
cblr-13858	85	7	................	................	PUNCT
cblr-13858	85	8	......	......	PUNCT
cblr-13858	86	1	89	89	NUM
cblr-13858	86	2	2	2	NUM
cblr-13858	86	3	.	.	PUNCT
cblr-13858	86	4	senate	senate	PROPN
cblr-13858	86	5	bill	bill	PROPN
cblr-13858	86	6	1791	1791	NUM
cblr-13858	86	7	................	................	PUNCT
cblr-13858	87	1	......	......	PUNCT
cblr-13858	88	1	91	91	NUM
cblr-13858	88	2	3	3	X
cblr-13858	88	3	.	.	PUNCT
cblr-13858	88	4	senate	senate	PROPN
cblr-13858	88	5	bill	bill	PROPN
cblr-13858	88	6	1970	1970	NUM
cblr-13858	88	7	................	................	PUNCT
cblr-13858	89	1	......	......	PUNCT
cblr-13858	90	1	94	94	NUM
cblr-13858	90	2	vi	vi	NOUN
cblr-13858	90	3	.	.	PUNCT
cblr-13858	91	1	the	the	DET
cblr-13858	91	2	costs	cost	NOUN
cblr-13858	91	3	and	and	CCONJ
cblr-13858	91	4	benefits	benefit	NOUN
cblr-13858	91	5	of	of	ADP
cblr-13858	91	6	a	a	DET
cblr-13858	91	7	crowdfunding	crowdfunding	NOUN
cblr-13858	91	8	exemption	exemption	NOUN
cblr-13858	91	9	..........................	..........................	PUNCT
cblr-13858	91	10	98	98	NUM
cblr-13858	91	11	a.	a.	NOUN
cblr-13858	91	12	capital	capital	NOUN
cblr-13858	91	13	formation	formation	NOUN
cblr-13858	91	14	:	:	PUNCT
cblr-13858	91	15	the	the	DET
cblr-13858	91	16	need	need	NOUN
cblr-13858	91	17	for	for	ADP
cblr-13858	91	18	a	a	DET
cblr-13858	91	19	crowdfunding	crowdfunding	NOUN
cblr-13858	91	20	exemption	exemption	NOUN
cblr-13858	91	21	................	................	PUNCT
cblr-13858	91	22	100	100	NUM
cblr-13858	91	23	b.	b.	PROPN
cblr-13858	91	24	investor	investor	NOUN
cblr-13858	91	25	protection	protection	NOUN
cblr-13858	91	26	:	:	PUNCT
cblr-13858	91	27	the	the	DET
cblr-13858	91	28	effects	effect	NOUN
cblr-13858	91	29	of	of	ADP
cblr-13858	91	30	crowdfunding	crowdfunde	VERB
cblr-13858	91	31	on	on	ADP
cblr-13858	91	32	investors	investor	NOUN
cblr-13858	91	33	...............	...............	PUNCT
cblr-13858	92	1	104	104	NUM
cblr-13858	92	2	1	1	NUM
cblr-13858	92	3	.	.	PUNCT
cblr-13858	93	1	the	the	DET
cblr-13858	93	2	risks	risk	NOUN
cblr-13858	93	3	of	of	ADP
cblr-13858	93	4	small	small	ADJ
cblr-13858	93	5	business	business	NOUN
cblr-13858	93	6	investment	investment	NOUN
cblr-13858	93	7	......	......	PUNCT
cblr-13858	94	1	105	105	NUM
cblr-13858	94	2	2	2	NUM
cblr-13858	94	3	.	.	PUNCT
cblr-13858	95	1	the	the	DET
cblr-13858	95	2	financial	financial	ADJ
cblr-13858	95	3	sophistication	sophistication	NOUN
cblr-13858	95	4	of	of	ADP
cblr-13858	95	5	the	the	DET
cblr-13858	95	6	crowd	crowd	NOUN
cblr-13858	95	7	...	...	PUNCT
cblr-13858	95	8	109	109	NUM
cblr-13858	95	9	3	3	NUM
cblr-13858	95	10	.	.	PUNCT
cblr-13858	95	11	crowdfunding	crowdfunding	NOUN
cblr-13858	95	12	and	and	CCONJ
cblr-13858	95	13	small	small	ADJ
cblr-13858	95	14	business	business	NOUN
cblr-13858	95	15	investment	investment	NOUN
cblr-13858	95	16	risk	risk	NOUN
cblr-13858	95	17	...	...	PUNCT
cblr-13858	95	18	..................	..................	PUNCT
cblr-13858	95	19	112	112	NUM
cblr-13858	95	20	vii	vii	PROPN
cblr-13858	95	21	.	.	PUNCT
cblr-13858	96	1	a	a	DET
cblr-13858	96	2	crowdfunding	crowdfunding	NOUN
cblr-13858	96	3	exemption	exemption	NOUN
cblr-13858	96	4	proposal	proposal	NOUN
cblr-13858	96	5	.	.	PUNCT
cblr-13858	97	1	..........	..........	PUNCT
cblr-13858	98	1	117	117	NUM
cblr-13858	98	2	a.	a.	NOUN
cblr-13858	98	3	restrictions	restriction	NOUN
cblr-13858	98	4	on	on	ADP
cblr-13858	98	5	the	the	DET
cblr-13858	98	6	offering	offering	NOUN
cblr-13858	98	7	...............	...............	PUNCT
cblr-13858	98	8	118	118	NUM
cblr-13858	98	9	1	1	NUM
cblr-13858	98	10	.	.	X
cblr-13858	98	11	offering	offer	VERB
cblr-13858	98	12	amount	amount	NOUN
cblr-13858	98	13	..........	..........	PUNCT
cblr-13858	98	14	...............	...............	PUNCT
cblr-13858	98	15	118	118	NUM
cblr-13858	98	16	2	2	NUM
cblr-13858	98	17	.	.	PUNCT
cblr-13858	98	18	aggregation	aggregation	NOUN
cblr-13858	98	19	/	/	SYM
cblr-13858	98	20	integration	integration	NOUN
cblr-13858	98	21	..........	..........	PUNCT
cblr-13858	99	1	.....	.....	PUNCT
cblr-13858	99	2	120	120	NUM
cblr-13858	99	3	3	3	X
cblr-13858	99	4	.	.	PUNCT
cblr-13858	99	5	individual	individual	ADJ
cblr-13858	99	6	investment	investment	NOUN
cblr-13858	99	7	cap	cap	NOUN
cblr-13858	99	8	.....	.....	PUNCT
cblr-13858	99	9	........	........	PUNCT
cblr-13858	100	1	122	122	NUM
cblr-13858	100	2	a.	a.	NOUN
cblr-13858	100	3	the	the	DET
cblr-13858	100	4	individual	individual	ADJ
cblr-13858	100	5	cap	cap	NOUN
cblr-13858	100	6	related	relate	VERB
cblr-13858	100	7	to	to	ADP
cblr-13858	100	8	existing	exist	VERB
cblr-13858	100	9	exemptions	exemption	NOUN
cblr-13858	100	10	................	................	PUNCT
cblr-13858	100	11	......	......	PUNCT
cblr-13858	101	1	123	123	NUM
cblr-13858	101	2	b.	b.	X
cblr-13858	101	3	how	how	SCONJ
cblr-13858	101	4	to	to	PART
cblr-13858	101	5	structure	structure	VERB
cblr-13858	101	6	the	the	DET
cblr-13858	101	7	cap	cap	NOUN
cblr-13858	101	8	........................	........................	PUNCT
cblr-13858	101	9	126	126	NUM
cblr-13858	101	10	4	4	NUM
cblr-13858	101	11	.	.	PUNCT
cblr-13858	102	1	should	should	AUX
cblr-13858	102	2	there	there	PRON
cblr-13858	102	3	be	be	AUX
cblr-13858	102	4	company	company	NOUN
cblr-13858	102	5	size	size	NOUN
cblr-13858	102	6	limits	limit	NOUN
cblr-13858	102	7	?	?	PUNCT
cblr-13858	102	8	.	.	PUNCT
cblr-13858	103	1	......	......	PUNCT
cblr-13858	104	1	132	132	NUM
cblr-13858	104	2	b.	b.	PROPN
cblr-13858	104	3	restrictions	restriction	NOUN
cblr-13858	104	4	on	on	ADP
cblr-13858	104	5	crowdfunding	crowdfunde	VERB
cblr-13858	104	6	sites	site	NOUN
cblr-13858	104	7	...................	...................	PUNCT
cblr-13858	105	1	133	133	NUM
cblr-13858	105	2	1	1	NUM
cblr-13858	105	3	.	.	PUNCT
cblr-13858	105	4	open	open	ADJ
cblr-13858	105	5	sites	site	NOUN
cblr-13858	105	6	,	,	PUNCT
cblr-13858	105	7	open	open	ADJ
cblr-13858	105	8	communication	communication	NOUN
cblr-13858	105	9	.................	.................	PUNCT
cblr-13858	105	10	134	134	NUM
cblr-13858	105	11	2	2	NUM
cblr-13858	105	12	.	.	PUNCT
cblr-13858	106	1	no	no	DET
cblr-13858	106	2	investment	investment	NOUN
cblr-13858	106	3	advice	advice	NOUN
cblr-13858	106	4	or	or	CCONJ
cblr-13858	106	5	recommendations	recommendation	NOUN
cblr-13858	106	6	136	136	NUM
cblr-13858	106	7	3	3	NUM
cblr-13858	106	8	.	.	PUNCT
cblr-13858	106	9	prohibition	prohibition	NOUN
cblr-13858	106	10	on	on	ADP
cblr-13858	106	11	conflicts	conflict	NOUN
cblr-13858	106	12	of	of	ADP
cblr-13858	106	13	interests	interest	NOUN
cblr-13858	106	14	.............	.............	PUNCT
cblr-13858	106	15	136	136	NUM
cblr-13858	106	16	4	4	NUM
cblr-13858	106	17	.	.	PUNCT
cblr-13858	106	18	notification	notification	NOUN
cblr-13858	106	19	to	to	ADP
cblr-13858	106	20	the	the	DET
cblr-13858	106	21	sec	sec	PROPN
cblr-13858	106	22	..........	..........	PUNCT
cblr-13858	107	1	.....	.....	PUNCT
cblr-13858	107	2	137	137	NUM
cblr-13858	107	3	5	5	NUM
cblr-13858	107	4	.	.	PUNCT
cblr-13858	107	5	investor	investor	NOUN
cblr-13858	107	6	education	education	NOUN
cblr-13858	107	7	...................	...................	PUNCT
cblr-13858	108	1	138	138	NUM
cblr-13858	108	2	6	6	NUM
cblr-13858	108	3	.	.	PUNCT
cblr-13858	108	4	funding	funding	NOUN
cblr-13858	108	5	goals	goal	NOUN
cblr-13858	108	6	and	and	CCONJ
cblr-13858	108	7	withdrawal	withdrawal	NOUN
cblr-13858	108	8	rights	right	NOUN
cblr-13858	108	9	........	........	PUNCT
cblr-13858	108	10	139	139	NUM
cblr-13858	108	11	c.	c.	NOUN
cblr-13858	108	12	other	other	ADJ
cblr-13858	108	13	possible	possible	ADJ
cblr-13858	108	14	requirements	requirement	NOUN
cblr-13858	108	15	........	........	PUNCT
cblr-13858	108	16	......	......	PUNCT
cblr-13858	109	1	141	141	NUM
cblr-13858	109	2	1	1	NUM
cblr-13858	109	3	.	.	PUNCT
cblr-13858	110	1	non	non	ADJ
cblr-13858	110	2	-	-	ADJ
cblr-13858	110	3	profit	profit	ADJ
cblr-13858	110	4	versus	versus	ADP
cblr-13858	110	5	profit	profit	NOUN
cblr-13858	110	6	status	status	NOUN
cblr-13858	110	7	.....	.....	PUNCT
cblr-13858	111	1	.....	.....	PUNCT
cblr-13858	111	2	141	141	NUM
cblr-13858	111	3	2	2	NUM
cblr-13858	111	4	.	.	PUNCT
cblr-13858	111	5	mandatory	mandatory	ADJ
cblr-13858	111	6	disclosure	disclosure	NOUN
cblr-13858	111	7	by	by	ADP
cblr-13858	111	8	entrepreneurs	entrepreneur	NOUN
cblr-13858	111	9	......	......	PUNCT
cblr-13858	111	10	142	142	NUM
cblr-13858	111	11	3	3	NUM
cblr-13858	111	12	.	.	PUNCT
cblr-13858	112	1	restrictions	restriction	NOUN
cblr-13858	112	2	on	on	ADP
cblr-13858	112	3	resale	resale	NOUN
cblr-13858	112	4	..................	..................	PUNCT
cblr-13858	112	5	144	144	NUM
cblr-13858	112	6	d.	d.	PROPN
cblr-13858	112	7	preemption	preemption	NOUN
cblr-13858	112	8	of	of	ADP
cblr-13858	112	9	state	state	NOUN
cblr-13858	112	10	law	law	NOUN
cblr-13858	112	11	............	............	PUNCT
cblr-13858	112	12	.....	.....	PUNCT
cblr-13858	113	1	145	145	NUM
cblr-13858	113	2	viii	viii	ADJ
cblr-13858	113	3	.	.	PUNCT
cblr-13858	113	4	conclusion	conclusion	NOUN
cblr-13858	113	5	.........................	.........................	PUNCT
cblr-13858	114	1	.....	.....	PUNCT
cblr-13858	115	1	149	149	NUM
cblr-13858	115	2	4	4	NUM
cblr-13858	116	1	[	[	X
cblr-13858	116	2	vol	vol	NOUN
cblr-13858	116	3	.	.	NOUN
cblr-13858	116	4	2012	2012	NUM
cblr-13858	116	5	i.	i.	NOUN
cblr-13858	116	6	introduction	introduction	NOUN
cblr-13858	116	7	small	small	ADJ
cblr-13858	116	8	businesses	business	NOUN
cblr-13858	116	9	,	,	PUNCT
cblr-13858	116	10	especially	especially	ADV
cblr-13858	116	11	startups	startup	NOUN
cblr-13858	116	12	,	,	PUNCT
cblr-13858	116	13	have	have	VERB
cblr-13858	116	14	a	a	DET
cblr-13858	116	15	difficult	difficult	ADJ
cblr-13858	116	16	time	time	NOUN
cblr-13858	116	17	raising	raise	VERB
cblr-13858	116	18	money	money	NOUN
cblr-13858	116	19	.	.	PUNCT
cblr-13858	117	1	the	the	DET
cblr-13858	117	2	usual	usual	ADJ
cblr-13858	117	3	sources	source	NOUN
cblr-13858	117	4	of	of	ADP
cblr-13858	117	5	business	business	NOUN
cblr-13858	117	6	financebank	financebank	PROPN
cblr-13858	117	7	lending	lending	PROPN
cblr-13858	117	8	,	,	PUNCT
cblr-13858	117	9	venture	venture	NOUN
cblr-13858	117	10	capital	capital	NOUN
cblr-13858	117	11	,	,	PUNCT
cblr-13858	117	12	retained	retain	VERB
cblr-13858	117	13	earnings	earning	NOUN
cblr-13858	117	14	-	-	PUNCT
cblr-13858	117	15	are	be	AUX
cblr-13858	117	16	difficult	difficult	ADJ
cblr-13858	117	17	to	to	PART
cblr-13858	117	18	obtain	obtain	VERB
cblr-13858	117	19	for	for	ADP
cblr-13858	117	20	small	small	ADJ
cblr-13858	117	21	and	and	CCONJ
cblr-13858	117	22	micro	micro	NOUN
cblr-13858	117	23	-	-	NOUN
cblr-13858	117	24	businesses	business	NOUN
cblr-13858	117	25	.	.	PUNCT
cblr-13858	118	1	wealthy	wealthy	ADJ
cblr-13858	118	2	individuals	individual	NOUN
cblr-13858	118	3	known	know	VERB
cblr-13858	118	4	as	as	ADP
cblr-13858	118	5	"	"	PUNCT
cblr-13858	118	6	angel	angel	NOUN
cblr-13858	118	7	investors	investor	NOUN
cblr-13858	118	8	"	"	PUNCT
cblr-13858	118	9	fill	fill	VERB
cblr-13858	118	10	part	part	NOUN
cblr-13858	118	11	of	of	ADP
cblr-13858	118	12	the	the	DET
cblr-13858	118	13	funding	funding	NOUN
cblr-13858	118	14	gap	gap	NOUN
cblr-13858	118	15	,	,	PUNCT
cblr-13858	118	16	but	but	CCONJ
cblr-13858	118	17	angel	angel	NOUN
cblr-13858	118	18	investing	investing	NOUN
cblr-13858	118	19	is	be	AUX
cblr-13858	118	20	limited	limit	VERB
cblr-13858	118	21	,	,	PUNCT
cblr-13858	118	22	and	and	CCONJ
cblr-13858	118	23	even	even	ADV
cblr-13858	118	24	angel	angel	NOUN
cblr-13858	118	25	investors	investor	NOUN
cblr-13858	118	26	tend	tend	VERB
cblr-13858	118	27	to	to	PART
cblr-13858	118	28	focus	focus	VERB
cblr-13858	118	29	on	on	ADP
cblr-13858	118	30	larger	large	ADJ
cblr-13858	118	31	investments	investment	NOUN
cblr-13858	118	32	.	.	PUNCT
cblr-13858	119	1	entrepreneurs	entrepreneur	NOUN
cblr-13858	119	2	who	who	PRON
cblr-13858	119	3	lack	lack	VERB
cblr-13858	119	4	the	the	DET
cblr-13858	119	5	personal	personal	ADJ
cblr-13858	119	6	resources	resource	NOUN
cblr-13858	119	7	needed	need	VERB
cblr-13858	119	8	to	to	PART
cblr-13858	119	9	finance	finance	VERB
cblr-13858	119	10	their	their	PRON
cblr-13858	119	11	businesses	business	NOUN
cblr-13858	119	12	turn	turn	VERB
cblr-13858	119	13	to	to	ADP
cblr-13858	119	14	friends	friend	NOUN
cblr-13858	119	15	,	,	PUNCT
cblr-13858	119	16	family	family	NOUN
cblr-13858	119	17	members	member	NOUN
cblr-13858	119	18	,	,	PUNCT
cblr-13858	119	19	and	and	CCONJ
cblr-13858	119	20	personal	personal	ADJ
cblr-13858	119	21	acquaintances	acquaintance	NOUN
cblr-13858	119	22	,	,	PUNCT
cblr-13858	119	23	but	but	CCONJ
cblr-13858	119	24	those	those	DET
cblr-13858	119	25	sources	source	NOUN
cblr-13858	119	26	are	be	AUX
cblr-13858	119	27	often	often	ADV
cblr-13858	119	28	insufficient	insufficient	ADJ
cblr-13858	119	29	.	.	PUNCT
cblr-13858	120	1	as	as	ADP
cblr-13858	120	2	a	a	DET
cblr-13858	120	3	result	result	NOUN
cblr-13858	120	4	,	,	PUNCT
cblr-13858	120	5	many	many	ADJ
cblr-13858	120	6	potentially	potentially	ADV
cblr-13858	120	7	successful	successful	ADJ
cblr-13858	120	8	small	small	ADJ
cblr-13858	120	9	businesses	business	NOUN
cblr-13858	120	10	do	do	AUX
cblr-13858	120	11	not	not	PART
cblr-13858	120	12	get	get	AUX
cblr-13858	120	13	funded	fund	VERB
cblr-13858	120	14	.	.	PUNCT
cblr-13858	121	1	crowdfunding	crowdfunding	NOUN
cblr-13858	121	2	,	,	PUNCT
cblr-13858	121	3	sometimes	sometimes	ADV
cblr-13858	121	4	called	call	VERB
cblr-13858	121	5	peer	peer	NOUN
cblr-13858	121	6	-	-	PUNCT
cblr-13858	121	7	to	to	ADP
cblr-13858	121	8	-	-	PUNCT
cblr-13858	121	9	peer	peer	NOUN
cblr-13858	121	10	lending	lending	NOUN
cblr-13858	121	11	when	when	SCONJ
cblr-13858	121	12	it	it	PRON
cblr-13858	121	13	involves	involve	VERB
cblr-13858	121	14	debt	debt	NOUN
cblr-13858	121	15	financing	financing	NOUN
cblr-13858	121	16	,	,	PUNCT
cblr-13858	121	17	is	be	AUX
cblr-13858	121	18	a	a	DET
cblr-13858	121	19	possible	possible	ADJ
cblr-13858	121	20	solution	solution	NOUN
cblr-13858	121	21	to	to	ADP
cblr-13858	121	22	the	the	DET
cblr-13858	121	23	small	small	ADJ
cblr-13858	121	24	business	business	NOUN
cblr-13858	121	25	funding	funding	NOUN
cblr-13858	121	26	problem	problem	NOUN
cblr-13858	121	27	.	.	PUNCT
cblr-13858	122	1	crowdfunding	crowdfunding	NOUN
cblr-13858	122	2	,	,	PUNCT
cblr-13858	122	3	is	be	AUX
cblr-13858	122	4	,	,	PUNCT
cblr-13858	122	5	as	as	SCONJ
cblr-13858	122	6	its	its	PRON
cblr-13858	122	7	name	name	NOUN
cblr-13858	122	8	indicates	indicate	VERB
cblr-13858	122	9	,	,	PUNCT
cblr-13858	122	10	funding	funding	NOUN
cblr-13858	122	11	from	from	ADP
cblr-13858	122	12	the	the	DET
cblr-13858	122	13	crowd	crowd	NOUN
cblr-13858	122	14	-	-	PUNCT
cblr-13858	122	15	raising	raise	VERB
cblr-13858	122	16	small	small	ADJ
cblr-13858	122	17	amounts	amount	NOUN
cblr-13858	122	18	of	of	ADP
cblr-13858	122	19	money	money	NOUN
cblr-13858	122	20	from	from	ADP
cblr-13858	122	21	a	a	DET
cblr-13858	122	22	large	large	ADJ
cblr-13858	122	23	number	number	NOUN
cblr-13858	122	24	of	of	ADP
cblr-13858	122	25	investors	investor	NOUN
cblr-13858	122	26	.	.	PUNCT
cblr-13858	123	1	unlike	unlike	ADP
cblr-13858	123	2	typical	typical	ADJ
cblr-13858	123	3	business	business	NOUN
cblr-13858	123	4	financing	financing	NOUN
cblr-13858	123	5	,	,	PUNCT
cblr-13858	123	6	which	which	PRON
cblr-13858	123	7	comes	come	VERB
cblr-13858	123	8	primarily	primarily	ADV
cblr-13858	123	9	from	from	ADP
cblr-13858	123	10	wealthy	wealthy	ADJ
cblr-13858	123	11	individuals	individual	NOUN
cblr-13858	123	12	and	and	CCONJ
cblr-13858	123	13	institutional	institutional	ADJ
cblr-13858	123	14	investors	investor	NOUN
cblr-13858	123	15	,	,	PUNCT
cblr-13858	123	16	crowdfunding	crowdfunding	NOUN
cblr-13858	123	17	raises	raise	VERB
cblr-13858	123	18	money	money	NOUN
cblr-13858	123	19	from	from	ADP
cblr-13858	123	20	the	the	DET
cblr-13858	123	21	general	general	ADJ
cblr-13858	123	22	public	public	NOUN
cblr-13858	123	23	.	.	PUNCT
cblr-13858	124	1	in	in	ADP
cblr-13858	124	2	the	the	DET
cblr-13858	124	3	past	past	NOUN
cblr-13858	124	4	,	,	PUNCT
cblr-13858	124	5	the	the	DET
cblr-13858	124	6	transaction	transaction	NOUN
cblr-13858	124	7	costs	cost	NOUN
cblr-13858	124	8	associated	associate	VERB
cblr-13858	124	9	with	with	ADP
cblr-13858	124	10	raising	raise	VERB
cblr-13858	124	11	small	small	ADJ
cblr-13858	124	12	amounts	amount	NOUN
cblr-13858	124	13	from	from	ADP
cblr-13858	124	14	a	a	DET
cblr-13858	124	15	large	large	ADJ
cblr-13858	124	16	number	number	NOUN
cblr-13858	124	17	of	of	ADP
cblr-13858	124	18	investors	investor	NOUN
cblr-13858	124	19	would	would	AUX
cblr-13858	124	20	have	have	AUX
cblr-13858	124	21	made	make	VERB
cblr-13858	124	22	crowdfunding	crowdfunding	NOUN
cblr-13858	124	23	unworkable	unworkable	ADJ
cblr-13858	124	24	,	,	PUNCT
cblr-13858	124	25	but	but	CCONJ
cblr-13858	124	26	the	the	DET
cblr-13858	124	27	internet	internet	NOUN
cblr-13858	124	28	has	have	AUX
cblr-13858	124	29	significantly	significantly	ADV
cblr-13858	124	30	reduced	reduce	VERB
cblr-13858	124	31	those	those	DET
cblr-13858	124	32	transaction	transaction	NOUN
cblr-13858	124	33	costs	cost	NOUN
cblr-13858	124	34	.	.	PUNCT
cblr-13858	125	1	web	web	NOUN
cblr-13858	125	2	-	-	PUNCT
cblr-13858	125	3	based	base	VERB
cblr-13858	125	4	crowdfunding	crowdfunding	NOUN
cblr-13858	125	5	services	service	NOUN
cblr-13858	125	6	such	such	ADJ
cblr-13858	125	7	as	as	ADP
cblr-13858	125	8	kickstarter	kickstarter	NOUN
cblr-13858	125	9	,	,	PUNCT
cblr-13858	125	10	lending	lending	NOUN
cblr-13858	125	11	club	club	NOUN
cblr-13858	125	12	,	,	PUNCT
cblr-13858	125	13	prosper	prosper	NOUN
cblr-13858	125	14	,	,	PUNCT
cblr-13858	125	15	profounder	profounder	NOUN
cblr-13858	125	16	,	,	PUNCT
cblr-13858	125	17	indiegogo	indiegogo	NOUN
cblr-13858	125	18	,	,	PUNCT
cblr-13858	125	19	and	and	CCONJ
cblr-13858	125	20	,	,	PUNCT
cblr-13858	125	21	the	the	DET
cblr-13858	125	22	paragon	paragon	NOUN
cblr-13858	125	23	of	of	ADP
cblr-13858	125	24	crowdfunding	crowdfunding	NOUN
cblr-13858	125	25	,	,	PUNCT
cblr-13858	125	26	kiva	kiva	PROPN
cblr-13858	125	27	have	have	AUX
cblr-13858	125	28	proliferated	proliferate	VERB
cblr-13858	125	29	.	.	PUNCT
cblr-13858	126	1	through	through	ADP
cblr-13858	126	2	these	these	DET
cblr-13858	126	3	sites	site	NOUN
cblr-13858	126	4	,	,	PUNCT
cblr-13858	126	5	entrepreneurs	entrepreneur	NOUN
cblr-13858	126	6	have	have	VERB
cblr-13858	126	7	access	access	NOUN
cblr-13858	126	8	to	to	ADP
cblr-13858	126	9	anyone	anyone	PRON
cblr-13858	126	10	in	in	ADP
cblr-13858	126	11	the	the	DET
cblr-13858	126	12	world	world	NOUN
cblr-13858	126	13	with	with	ADP
cblr-13858	126	14	a	a	DET
cblr-13858	126	15	computer	computer	NOUN
cblr-13858	126	16	,	,	PUNCT
cblr-13858	126	17	internet	internet	NOUN
cblr-13858	126	18	access	access	NOUN
cblr-13858	126	19	,	,	PUNCT
cblr-13858	126	20	and	and	CCONJ
cblr-13858	126	21	free	free	ADJ
cblr-13858	126	22	cash	cash	NOUN
cblr-13858	126	23	.	.	PUNCT
cblr-13858	127	1	billions	billion	NOUN
cblr-13858	127	2	of	of	ADP
cblr-13858	127	3	dollars	dollar	NOUN
cblr-13858	127	4	have	have	AUX
cblr-13858	127	5	been	be	AUX
cblr-13858	127	6	raised	raise	VERB
cblr-13858	127	7	through	through	ADP
cblr-13858	127	8	internet	internet	NOUN
cblr-13858	127	9	-	-	PUNCT
cblr-13858	127	10	based	base	VERB
cblr-13858	127	11	crowdfunding	crowdfunding	NOUN
cblr-13858	127	12	since	since	SCONJ
cblr-13858	127	13	its	its	PRON
cblr-13858	127	14	inception	inception	NOUN
cblr-13858	127	15	just	just	ADV
cblr-13858	127	16	a	a	DET
cblr-13858	127	17	few	few	ADJ
cblr-13858	127	18	years	year	NOUN
cblr-13858	127	19	ago	ago	ADV
cblr-13858	127	20	-	-	PUNCT
cblr-13858	127	21	possibly	possibly	ADV
cblr-13858	127	22	the	the	DET
cblr-13858	127	23	beginning	beginning	NOUN
cblr-13858	127	24	of	of	ADP
cblr-13858	127	25	a	a	DET
cblr-13858	127	26	revolution	revolution	NOUN
cblr-13858	127	27	in	in	ADP
cblr-13858	127	28	how	how	SCONJ
cblr-13858	127	29	the	the	DET
cblr-13858	127	30	general	general	ADJ
cblr-13858	127	31	public	public	ADJ
cblr-13858	127	32	allocates	allocate	NOUN
cblr-13858	127	33	capital	capital	NOUN
cblr-13858	127	34	.	.	PUNCT
cblr-13858	128	1	jeff	jeff	PROPN
cblr-13858	128	2	howe	howe	PROPN
cblr-13858	128	3	,	,	PUNCT
cblr-13858	128	4	crowdsourcing	crowdsourcing	NOUN
cblr-13858	128	5	:	:	PUNCT
cblr-13858	128	6	why	why	SCONJ
cblr-13858	128	7	the	the	DET
cblr-13858	128	8	power	power	NOUN
cblr-13858	128	9	of	of	ADP
cblr-13858	128	10	the	the	DET
cblr-13858	128	11	crowd	crowd	NOUN
cblr-13858	128	12	is	be	AUX
cblr-13858	128	13	driving	drive	VERB
cblr-13858	128	14	the	the	DET
cblr-13858	128	15	future	future	NOUN
cblr-13858	128	16	of	of	ADP
cblr-13858	128	17	business	business	NOUN
cblr-13858	128	18	247	247	NUM
cblr-13858	128	19	(	(	PUNCT
cblr-13858	128	20	2008	2008	NUM
cblr-13858	128	21	)	)	PUNCT
cblr-13858	128	22	.	.	PUNCT
cblr-13858	129	1	2	2	NUM
cblr-13858	129	2	see	see	VERB
cblr-13858	129	3	kevin	kevin	PROPN
cblr-13858	129	4	lawton	lawton	PROPN
cblr-13858	129	5	&	&	CCONJ
cblr-13858	129	6	dan	dan	PROPN
cblr-13858	129	7	marom	marom	PROPN
cblr-13858	129	8	,	,	PUNCT
cblr-13858	129	9	the	the	DET
cblr-13858	129	10	crowdfunding	crowdfunding	NOUN
cblr-13858	129	11	revolution	revolution	NOUN
cblr-13858	129	12	:	:	PUNCT
cblr-13858	129	13	social	social	ADJ
cblr-13858	129	14	networking	networking	NOUN
cblr-13858	129	15	meets	meet	VERB
cblr-13858	129	16	venture	venture	NOUN
cblr-13858	129	17	financing	financing	NOUN
cblr-13858	129	18	3	3	NUM
cblr-13858	129	19	(	(	PUNCT
cblr-13858	129	20	2010	2010	NUM
cblr-13858	129	21	)	)	PUNCT
cblr-13858	129	22	(	(	PUNCT
cblr-13858	129	23	"	"	PUNCT
cblr-13858	129	24	[	[	X
cblr-13858	129	25	in	in	ADP
cblr-13858	129	26	the	the	DET
cblr-13858	129	27	same	same	ADJ
cblr-13858	129	28	cro	cro	NOUN
cblr-13858	129	29	wdfunding	wdfunding	NOUN
cblr-13858	129	30	and	and	CCONJ
cblr-13858	129	31	securities	security	NOUN
cblr-13858	129	32	la	la	DET
cblr-13858	129	33	ws	ws	PROPN
cblr-13858	129	34	5no	5no	NOUN
cblr-13858	129	35	.	.	PUNCT
cblr-13858	130	1	i	i	PRON
cblr-13858	130	2	:	:	PUNCT
cblr-13858	131	1	1	1	X
cblr-13858	131	2	]	]	PUNCT
cblr-13858	131	3	a	a	DET
cblr-13858	131	4	recent	recent	ADJ
cblr-13858	131	5	campaign	campaign	NOUN
cblr-13858	131	6	by	by	ADP
cblr-13858	131	7	two	two	NUM
cblr-13858	131	8	ad	ad	NOUN
cblr-13858	131	9	executives	executive	NOUN
cblr-13858	131	10	,	,	PUNCT
cblr-13858	131	11	michael	michael	PROPN
cblr-13858	131	12	migliozzi	migliozzi	PROPN
cblr-13858	131	13	ii	ii	PROPN
cblr-13858	131	14	and	and	CCONJ
cblr-13858	131	15	brian	brian	PROPN
cblr-13858	131	16	william	william	PROPN
cblr-13858	131	17	flatow	flatow	PROPN
cblr-13858	131	18	,	,	PUNCT
cblr-13858	131	19	to	to	PART
cblr-13858	131	20	raise	raise	VERB
cblr-13858	131	21	$	$	SYM
cblr-13858	131	22	300	300	NUM
cblr-13858	131	23	million	million	NUM
cblr-13858	131	24	to	to	PART
cblr-13858	131	25	buy	buy	VERB
cblr-13858	131	26	pabst	pabst	PROPN
cblr-13858	131	27	brewing	brewing	NOUN
cblr-13858	131	28	illustrates	illustrate	VERB
cblr-13858	131	29	the	the	DET
cblr-13858	131	30	power	power	NOUN
cblr-13858	131	31	of	of	ADP
cblr-13858	131	32	crowdfunding	crowdfunde	VERB
cblr-13858	131	33	.	.	PUNCT
cblr-13858	131	34	'	'	PUNCT
cblr-13858	132	1	they	they	PRON
cblr-13858	132	2	promised	promise	VERB
cblr-13858	132	3	investors	investor	NOUN
cblr-13858	132	4	"	"	PUNCT
cblr-13858	132	5	certificates	certificate	NOUN
cblr-13858	132	6	of	of	ADP
cblr-13858	132	7	ownership	ownership	NOUN
cblr-13858	132	8	"	"	PUNCT
cblr-13858	132	9	and	and	CCONJ
cblr-13858	132	10	beer	beer	NOUN
cblr-13858	132	11	with	with	ADP
cblr-13858	132	12	a	a	DET
cblr-13858	132	13	value	value	NOUN
cblr-13858	132	14	equal	equal	ADJ
cblr-13858	132	15	to	to	ADP
cblr-13858	132	16	the	the	DET
cblr-13858	132	17	amount	amount	NOUN
cblr-13858	132	18	invested	invest	VERB
cblr-13858	132	19	.	.	PUNCT
cblr-13858	133	1	according	accord	VERB
cblr-13858	133	2	to	to	ADP
cblr-13858	133	3	their	their	PRON
cblr-13858	133	4	lawyer	lawyer	NOUN
cblr-13858	133	5	,	,	PUNCT
cblr-13858	133	6	the	the	DET
cblr-13858	133	7	two	two	NUM
cblr-13858	133	8	were	be	AUX
cblr-13858	133	9	only	only	ADV
cblr-13858	133	10	conducting	conduct	VERB
cblr-13858	133	11	an	an	DET
cblr-13858	133	12	online	online	ADJ
cblr-13858	133	13	experiment	experiment	NOUN
cblr-13858	133	14	and	and	CCONJ
cblr-13858	133	15	never	never	ADV
cblr-13858	133	16	actually	actually	ADV
cblr-13858	133	17	intended	intend	VERB
cblr-13858	133	18	to	to	PART
cblr-13858	133	19	buy	buy	VERB
cblr-13858	133	20	pabst	pabst	PROPN
cblr-13858	133	21	.	.	PUNCT
cblr-13858	133	22	'	'	PUNCT
cblr-13858	134	1	but	but	CCONJ
cblr-13858	134	2	they	they	PRON
cblr-13858	134	3	reportedly	reportedly	ADV
cblr-13858	134	4	received	receive	VERB
cblr-13858	134	5	$	$	SYM
cblr-13858	134	6	200	200	NUM
cblr-13858	134	7	million	million	NUM
cblr-13858	134	8	in	in	ADP
cblr-13858	134	9	pledges	pledge	NOUN
cblr-13858	134	10	from	from	ADP
cblr-13858	134	11	over	over	ADP
cblr-13858	134	12	five	five	NUM
cblr-13858	134	13	million	million	NUM
cblr-13858	134	14	individuals	individual	NOUN
cblr-13858	134	15	in	in	ADP
cblr-13858	134	16	the	the	DET
cblr-13858	134	17	six	six	NUM
cblr-13858	134	18	-	-	PUNCT
cblr-13858	134	19	month	month	NOUN
cblr-13858	134	20	period	period	NOUN
cblr-13858	134	21	before	before	ADP
cblr-13858	134	22	the	the	DET
cblr-13858	134	23	securities	securities	PROPN
cblr-13858	134	24	and	and	CCONJ
cblr-13858	134	25	exchange	exchange	PROPN
cblr-13858	134	26	commission	commission	PROPN
cblr-13858	134	27	(	(	PUNCT
cblr-13858	134	28	"	"	PUNCT
cblr-13858	134	29	sec	sec	PROPN
cblr-13858	134	30	"	"	PUNCT
cblr-13858	134	31	)	)	PUNCT
cblr-13858	134	32	shut	shut	VERB
cblr-13858	134	33	them	they	PRON
cblr-13858	134	34	down	down	ADP
cblr-13858	134	35	for	for	ADP
cblr-13858	134	36	failing	fail	VERB
cblr-13858	134	37	to	to	PART
cblr-13858	134	38	register	register	VERB
cblr-13858	134	39	.	.	PUNCT
cblr-13858	135	1	as	as	SCONJ
cblr-13858	135	2	this	this	DET
cblr-13858	135	3	example	example	NOUN
cblr-13858	135	4	illustrates	illustrate	VERB
cblr-13858	135	5	,	,	PUNCT
cblr-13858	135	6	crowdfunding	crowdfunding	NOUN
cblr-13858	135	7	does	do	AUX
cblr-13858	135	8	not	not	PART
cblr-13858	135	9	mesh	mesh	VERB
cblr-13858	135	10	well	well	ADV
cblr-13858	135	11	with	with	ADP
cblr-13858	135	12	federal	federal	ADJ
cblr-13858	135	13	securities	security	NOUN
cblr-13858	135	14	regulation	regulation	NOUN
cblr-13858	135	15	.	.	PUNCT
cblr-13858	136	1	entrepreneurs	entrepreneur	NOUN
cblr-13858	136	2	seeking	seek	VERB
cblr-13858	136	3	debt	debt	NOUN
cblr-13858	136	4	or	or	CCONJ
cblr-13858	136	5	equity	equity	NOUN
cblr-13858	136	6	financing	financing	NOUN
cblr-13858	136	7	through	through	ADP
cblr-13858	136	8	crowdfunding	crowdfunding	NOUN
cblr-13858	136	9	will	will	AUX
cblr-13858	136	10	often	often	ADV
cblr-13858	136	11	be	be	AUX
cblr-13858	136	12	selling	sell	VERB
cblr-13858	136	13	securities	security	NOUN
cblr-13858	136	14	,	,	PUNCT
cblr-13858	136	15	and	and	CCONJ
cblr-13858	136	16	securities	security	NOUN
cblr-13858	136	17	offerings	offering	NOUN
cblr-13858	136	18	must	must	AUX
cblr-13858	136	19	be	be	AUX
cblr-13858	136	20	registered	register	VERB
cblr-13858	136	21	under	under	ADP
cblr-13858	136	22	the	the	DET
cblr-13858	136	23	securities	security	NOUN
cblr-13858	136	24	act	act	NOUN
cblr-13858	136	25	of	of	ADP
cblr-13858	136	26	1933	1933	NUM
cblr-13858	136	27	(	(	PUNCT
cblr-13858	136	28	the	the	DET
cblr-13858	136	29	"	"	PUNCT
cblr-13858	136	30	securities	security	NOUN
cblr-13858	136	31	act	act	NOUN
cblr-13858	136	32	"	"	PUNCT
cblr-13858	136	33	)	)	PUNCT
cblr-13858	136	34	unless	unless	SCONJ
cblr-13858	136	35	an	an	DET
cblr-13858	136	36	exemption	exemption	NOUN
cblr-13858	136	37	is	be	AUX
cblr-13858	136	38	available	available	ADJ
cblr-13858	136	39	.	.	PUNCT
cblr-13858	137	1	registration	registration	NOUN
cblr-13858	137	2	would	would	AUX
cblr-13858	137	3	be	be	AUX
cblr-13858	137	4	prohibitively	prohibitively	ADV
cblr-13858	137	5	expensive	expensive	ADJ
cblr-13858	137	6	.	.	PUNCT
cblr-13858	138	1	a	a	DET
cblr-13858	138	2	couple	couple	NOUN
cblr-13858	138	3	of	of	ADP
cblr-13858	138	4	peer	peer	NOUN
cblr-13858	138	5	-	-	PUNCT
cblr-13858	138	6	to	to	ADP
cblr-13858	138	7	-	-	PUNCT
cblr-13858	138	8	peer	peer	NOUN
cblr-13858	138	9	lending	lending	NOUN
cblr-13858	138	10	sites	site	NOUN
cblr-13858	138	11	have	have	AUX
cblr-13858	138	12	registered	register	VERB
cblr-13858	138	13	,	,	PUNCT
cblr-13858	138	14	but	but	CCONJ
cblr-13858	138	15	to	to	PART
cblr-13858	138	16	do	do	VERB
cblr-13858	138	17	so	so	ADV
cblr-13858	138	18	,	,	PUNCT
cblr-13858	138	19	they	they	PRON
cblr-13858	138	20	substantially	substantially	ADV
cblr-13858	138	21	restructured	restructure	VERB
cblr-13858	138	22	their	their	PRON
cblr-13858	138	23	operations	operation	NOUN
cblr-13858	138	24	in	in	ADP
cblr-13858	138	25	a	a	DET
cblr-13858	138	26	way	way	NOUN
cblr-13858	138	27	unlikely	unlikely	ADJ
cblr-13858	138	28	to	to	PART
cblr-13858	138	29	prove	prove	VERB
cblr-13858	138	30	useful	useful	ADJ
cblr-13858	138	31	for	for	ADP
cblr-13858	138	32	most	most	ADJ
cblr-13858	138	33	crowdfunding	crowdfunding	NOUN
cblr-13858	138	34	,	,	PUNCT
cblr-13858	138	35	particularly	particularly	ADV
cblr-13858	138	36	for	for	ADP
cblr-13858	138	37	equity	equity	NOUN
cblr-13858	138	38	offerings	offering	NOUN
cblr-13858	138	39	.	.	PUNCT
cblr-13858	139	1	the	the	DET
cblr-13858	139	2	current	current	ADJ
cblr-13858	139	3	exemptions	exemption	NOUN
cblr-13858	139	4	from	from	ADP
cblr-13858	139	5	the	the	DET
cblr-13858	139	6	registration	registration	NOUN
cblr-13858	139	7	requirement	requirement	NOUN
cblr-13858	139	8	also	also	ADV
cblr-13858	139	9	do	do	AUX
cblr-13858	139	10	not	not	PART
cblr-13858	139	11	fit	fit	VERB
cblr-13858	139	12	crowdfunding	crowdfunding	NOUN
cblr-13858	139	13	well	well	ADV
cblr-13858	139	14	.	.	PUNCT
cblr-13858	140	1	crowdfunding	crowdfunde	VERB
cblr-13858	140	2	sites	site	NOUN
cblr-13858	140	3	trying	try	VERB
cblr-13858	140	4	to	to	PART
cblr-13858	140	5	fit	fit	VERB
cblr-13858	140	6	within	within	ADP
cblr-13858	140	7	these	these	DET
cblr-13858	140	8	exemptions	exemption	NOUN
cblr-13858	140	9	have	have	AUX
cblr-13858	140	10	had	have	VERB
cblr-13858	140	11	to	to	PART
cblr-13858	140	12	restrict	restrict	VERB
cblr-13858	140	13	access	access	NOUN
cblr-13858	140	14	either	either	ADV
cblr-13858	140	15	to	to	ADP
cblr-13858	140	16	sophisticated	sophisticated	ADJ
cblr-13858	140	17	,	,	PUNCT
cblr-13858	140	18	wealthy	wealthy	ADJ
cblr-13858	140	19	investors	investor	NOUN
cblr-13858	140	20	or	or	CCONJ
cblr-13858	140	21	to	to	ADP
cblr-13858	140	22	preexisting	preexist	VERB
cblr-13858	140	23	acquaintances	acquaintance	NOUN
cblr-13858	140	24	of	of	ADP
cblr-13858	140	25	the	the	DET
cblr-13858	140	26	entrepreneur	entrepreneur	NOUN
cblr-13858	140	27	seeking	seek	VERB
cblr-13858	140	28	funds	fund	NOUN
cblr-13858	140	29	.	.	PUNCT
cblr-13858	141	1	way	way	NOUN
cblr-13858	141	2	that	that	PRON
cblr-13858	141	3	social	social	ADJ
cblr-13858	141	4	networking	networking	NOUN
cblr-13858	141	5	changed	change	VERB
cblr-13858	141	6	how	how	SCONJ
cblr-13858	141	7	we	we	PRON
cblr-13858	141	8	allocate	allocate	VERB
cblr-13858	141	9	our	our	PRON
cblr-13858	141	10	time	time	NOUN
cblr-13858	141	11	,	,	PUNCT
cblr-13858	141	12	crowdfunding	crowdfunding	NOUN
cblr-13858	141	13	will	will	AUX
cblr-13858	141	14	change	change	VERB
cblr-13858	141	15	how	how	SCONJ
cblr-13858	141	16	we	we	PRON
cblr-13858	141	17	allocate	allocate	VERB
cblr-13858	141	18	capital	capital	NOUN
cblr-13858	141	19	.	.	PUNCT
cblr-13858	141	20	"	"	PUNCT
cblr-13858	141	21	)	)	PUNCT
cblr-13858	141	22	.	.	PUNCT
cblr-13858	141	23	'	'	PUNCT
cblr-13858	142	1	see	see	VERB
cblr-13858	142	2	michael	michael	PROPN
cblr-13858	142	3	migliozzi	migliozzi	PROPN
cblr-13858	142	4	ii	ii	PROPN
cblr-13858	142	5	,	,	PUNCT
cblr-13858	142	6	order	order	VERB
cblr-13858	142	7	instituting	institute	VERB
cblr-13858	142	8	cease	cease	NOUN
cblr-13858	142	9	-	-	PUNCT
cblr-13858	142	10	and	and	CCONJ
cblr-13858	142	11	-	-	PUNCT
cblr-13858	142	12	desist	desist	VERB
cblr-13858	142	13	proceedings	proceeding	NOUN
cblr-13858	142	14	pursuant	pursuant	VERB
cblr-13858	142	15	to	to	ADP
cblr-13858	142	16	section	section	NOUN
cblr-13858	142	17	8a	8a	NUM
cblr-13858	142	18	of	of	ADP
cblr-13858	142	19	the	the	DET
cblr-13858	142	20	securities	security	NOUN
cblr-13858	142	21	act	act	NOUN
cblr-13858	142	22	of	of	ADP
cblr-13858	142	23	1933	1933	NUM
cblr-13858	142	24	,	,	PUNCT
cblr-13858	142	25	making	make	VERB
cblr-13858	142	26	findings	finding	NOUN
cblr-13858	142	27	,	,	PUNCT
cblr-13858	142	28	and	and	CCONJ
cblr-13858	142	29	imposing	impose	VERB
cblr-13858	142	30	a	a	DET
cblr-13858	142	31	cease	cease	VERB
cblr-13858	142	32	-	-	PUNCT
cblr-13858	142	33	and	and	CCONJ
cblr-13858	142	34	-	-	PUNCT
cblr-13858	142	35	desist	desist	VERB
cblr-13858	142	36	order	order	NOUN
cblr-13858	142	37	,	,	PUNCT
cblr-13858	142	38	securities	security	NOUN
cblr-13858	142	39	act	act	NOUN
cblr-13858	142	40	release	release	VERB
cblr-13858	142	41	no	no	DET
cblr-13858	142	42	.	.	NOUN
cblr-13858	142	43	9216	9216	NUM
cblr-13858	142	44	(	(	PUNCT
cblr-13858	142	45	june	june	PROPN
cblr-13858	142	46	8	8	NUM
cblr-13858	142	47	,	,	PUNCT
cblr-13858	142	48	2011	2011	NUM
cblr-13858	142	49	)	)	PUNCT
cblr-13858	142	50	,	,	PUNCT
cblr-13858	142	51	available	available	ADJ
cblr-13858	142	52	at	at	ADP
cblr-13858	142	53	http://www.sec.gov/litigation/admin	http://www.sec.gov/litigation/admin	NOUN
cblr-13858	142	54	/2011/33	/2011/33	NOUN
cblr-13858	142	55	-	-	PUNCT
cblr-13858	142	56	9216.pdf	9216.pdf	NOUN
cblr-13858	142	57	[	[	X
cblr-13858	142	58	hereinafter	hereinafter	NOUN
cblr-13858	142	59	migliozzi	migliozzi	NOUN
cblr-13858	142	60	cease	cease	VERB
cblr-13858	142	61	-	-	PUNCT
cblr-13858	142	62	and	and	CCONJ
cblr-13858	142	63	-	-	PUNCT
cblr-13858	142	64	desist	desist	VERB
cblr-13858	142	65	order	order	NOUN
cblr-13858	142	66	]	]	X
cblr-13858	142	67	;	;	PUNCT
cblr-13858	142	68	chad	chad	PROPN
cblr-13858	142	69	bray	bray	PROPN
cblr-13858	142	70	,	,	PUNCT
cblr-13858	142	71	huge	huge	ADJ
cblr-13858	142	72	beer	beer	NOUN
cblr-13858	142	73	run	run	NOUN
cblr-13858	142	74	halted	halt	VERB
cblr-13858	142	75	by	by	ADP
cblr-13858	142	76	those	those	DET
cblr-13858	142	77	no	no	DET
cblr-13858	142	78	fun	fun	NOUN
cblr-13858	142	79	d.c	d.c	PROPN
cblr-13858	142	80	.	.	PUNCT
cblr-13858	142	81	regulators	regulator	NOUN
cblr-13858	142	82	,	,	PUNCT
cblr-13858	142	83	wall	wall	PROPN
cblr-13858	142	84	st	st	PROPN
cblr-13858	142	85	.	.	PROPN
cblr-13858	142	86	j.	j.	PROPN
cblr-13858	142	87	l.	l.	PROPN
cblr-13858	142	88	blog	blog	PROPN
cblr-13858	142	89	(	(	PUNCT
cblr-13858	142	90	june	june	PROPN
cblr-13858	142	91	8	8	NUM
cblr-13858	142	92	,	,	PUNCT
cblr-13858	142	93	2011	2011	NUM
cblr-13858	142	94	,	,	PUNCT
cblr-13858	142	95	4:05	4:05	NUM
cblr-13858	142	96	pm	pm	NOUN
cblr-13858	142	97	)	)	PUNCT
cblr-13858	142	98	,	,	PUNCT
cblr-13858	142	99	http://blogs.wsj.com/1aw/2011/06/	http://blogs.wsj.com/1aw/2011/06/	NOUN
cblr-13858	142	100	08	08	NUM
cblr-13858	142	101	/	/	SYM
cblr-13858	142	102	huge	huge	ADJ
cblr-13858	142	103	-	-	PUNCT
cblr-13858	142	104	beer	beer	NOUN
cblr-13858	142	105	-	-	PUNCT
cblr-13858	142	106	run	run	NOUN
cblr-13858	142	107	-	-	PUNCT
cblr-13858	142	108	halted	halt	VERB
cblr-13858	142	109	-	-	PUNCT
cblr-13858	142	110	by	by	ADP
cblr-13858	142	111	-	-	PUNCT
cblr-13858	142	112	those	those	DET
cblr-13858	142	113	-	-	PUNCT
cblr-13858	142	114	no	no	DET
cblr-13858	142	115	-	-	PUNCT
cblr-13858	142	116	fun	fun	NOUN
cblr-13858	142	117	-	-	PUNCT
cblr-13858	142	118	d	d	NOUN
cblr-13858	142	119	-	-	PUNCT
cblr-13858	142	120	c	c	NOUN
cblr-13858	142	121	-	-	PUNCT
cblr-13858	142	122	regulators/?mod	regulators/?mod	NOUN
cblr-13858	142	123	=	=	NOUN
cblr-13858	142	124	wsjblog	wsjblog	NOUN
cblr-13858	142	125	.	.	PUNCT
cblr-13858	143	1	*	*	PUNCT
cblr-13858	143	2	migliozzi	migliozzi	ADJ
cblr-13858	143	3	cease	cease	NOUN
cblr-13858	143	4	-	-	PUNCT
cblr-13858	143	5	and	and	CCONJ
cblr-13858	143	6	-	-	PUNCT
cblr-13858	143	7	desist	desist	VERB
cblr-13858	143	8	order	order	NOUN
cblr-13858	143	9	,	,	PUNCT
cblr-13858	143	10	supra	supra	ADJ
cblr-13858	143	11	note	note	NOUN
cblr-13858	143	12	3	3	NUM
cblr-13858	143	13	,	,	PUNCT
cblr-13858	143	14	at	at	ADP
cblr-13858	143	15	2	2	NUM
cblr-13858	143	16	.	.	PUNCT
cblr-13858	144	1	*	*	PUNCT
cblr-13858	144	2	see	see	VERB
cblr-13858	144	3	bray	bray	NOUN
cblr-13858	144	4	,	,	PUNCT
cblr-13858	144	5	supra	supra	PROPN
cblr-13858	144	6	note	note	NOUN
cblr-13858	144	7	3	3	NUM
cblr-13858	144	8	.	.	PUNCT
cblr-13858	144	9	*	*	PUNCT
cblr-13858	144	10	migliozzi	migliozzi	ADJ
cblr-13858	144	11	cease	cease	NOUN
cblr-13858	144	12	-	-	PUNCT
cblr-13858	144	13	and	and	CCONJ
cblr-13858	144	14	-	-	PUNCT
cblr-13858	144	15	desist	desist	VERB
cblr-13858	144	16	order	order	NOUN
cblr-13858	144	17	,	,	PUNCT
cblr-13858	144	18	supra	supra	ADJ
cblr-13858	144	19	note	note	NOUN
cblr-13858	144	20	3	3	NUM
cblr-13858	144	21	,	,	PUNCT
cblr-13858	144	22	at	at	ADP
cblr-13858	144	23	3	3	NUM
cblr-13858	144	24	.	.	PUNCT
cblr-13858	145	1	[	[	X
cblr-13858	145	2	vol	vol	NOUN
cblr-13858	145	3	.	.	PUNCT
cblr-13858	145	4	20126	20126	NUM
cblr-13858	145	5	coluamia	coluamia	NOUN
cblr-13858	145	6	b	b	NUM
cblr-13858	145	7	usiness	usiness	PROPN
cblr-13858	145	8	la	la	PROPN
cblr-13858	145	9	w	w	PROPN
cblr-13858	145	10	re	re	PROPN
cblr-13858	145	11	vie	vie	PROPN
cblr-13858	145	12	w	w	PROPN
cblr-13858	145	13	such	such	ADJ
cblr-13858	145	14	restrictions	restriction	NOUN
cblr-13858	145	15	eliminate	eliminate	VERB
cblr-13858	145	16	the	the	DET
cblr-13858	145	17	power	power	NOUN
cblr-13858	145	18	of	of	ADP
cblr-13858	145	19	crowdfundingaccess	crowdfundingaccess	NOUN
cblr-13858	145	20	to	to	ADP
cblr-13858	145	21	the	the	DET
cblr-13858	145	22	public	public	ADJ
cblr-13858	145	23	crowd	crowd	NOUN
cblr-13858	145	24	of	of	ADP
cblr-13858	145	25	small	small	ADJ
cblr-13858	145	26	investors	investor	NOUN
cblr-13858	145	27	.	.	PUNCT
cblr-13858	146	1	securitiesbased	securitiesbase	VERB
cblr-13858	146	2	crowdfunding	crowdfunding	NOUN
cblr-13858	146	3	is	be	AUX
cblr-13858	146	4	practicable	practicable	ADJ
cblr-13858	146	5	only	only	ADV
cblr-13858	146	6	if	if	SCONJ
cblr-13858	146	7	a	a	DET
cblr-13858	146	8	new	new	ADJ
cblr-13858	146	9	exemption	exemption	NOUN
cblr-13858	146	10	is	be	AUX
cblr-13858	146	11	created	create	VERB
cblr-13858	146	12	.	.	PUNCT
cblr-13858	147	1	several	several	ADJ
cblr-13858	147	2	proposals	proposal	NOUN
cblr-13858	147	3	have	have	AUX
cblr-13858	147	4	been	be	AUX
cblr-13858	147	5	made	make	VERB
cblr-13858	147	6	to	to	PART
cblr-13858	147	7	exempt	exempt	VERB
cblr-13858	147	8	crowdfunding	crowdfunding	NOUN
cblr-13858	147	9	and	and	CCONJ
cblr-13858	147	10	certain	certain	ADJ
cblr-13858	147	11	other	other	ADJ
cblr-13858	147	12	small	small	ADJ
cblr-13858	147	13	business	business	NOUN
cblr-13858	147	14	securities	security	NOUN
cblr-13858	147	15	offerings	offering	NOUN
cblr-13858	147	16	from	from	ADP
cblr-13858	147	17	the	the	DET
cblr-13858	147	18	registration	registration	NOUN
cblr-13858	147	19	requirements	requirement	NOUN
cblr-13858	147	20	of	of	ADP
cblr-13858	147	21	the	the	DET
cblr-13858	147	22	securities	security	NOUN
cblr-13858	147	23	act	act	PROPN
cblr-13858	147	24	.	.	PUNCT
cblr-13858	148	1	all	all	PRON
cblr-13858	148	2	of	of	ADP
cblr-13858	148	3	these	these	DET
cblr-13858	148	4	proposals	proposal	NOUN
cblr-13858	148	5	would	would	AUX
cblr-13858	148	6	cap	cap	VERB
cblr-13858	148	7	both	both	CCONJ
cblr-13858	148	8	the	the	DET
cblr-13858	148	9	dollar	dollar	NOUN
cblr-13858	148	10	amount	amount	NOUN
cblr-13858	148	11	of	of	ADP
cblr-13858	148	12	a	a	DET
cblr-13858	148	13	crowdfunded	crowdfunde	VERB
cblr-13858	148	14	offering	offering	NOUN
cblr-13858	148	15	and	and	CCONJ
cblr-13858	148	16	the	the	DET
cblr-13858	148	17	amount	amount	NOUN
cblr-13858	148	18	that	that	PRON
cblr-13858	148	19	each	each	DET
cblr-13858	148	20	individual	individual	ADJ
cblr-13858	148	21	investor	investor	NOUN
cblr-13858	148	22	could	could	AUX
cblr-13858	148	23	invest	invest	VERB
cblr-13858	148	24	.	.	PUNCT
cblr-13858	149	1	but	but	CCONJ
cblr-13858	149	2	the	the	DET
cblr-13858	149	3	securities	security	NOUN
cblr-13858	149	4	act	act	PROPN
cblr-13858	149	5	's	's	PART
cblr-13858	149	6	registration	registration	NOUN
cblr-13858	149	7	requirement	requirement	NOUN
cblr-13858	149	8	is	be	AUX
cblr-13858	149	9	not	not	PART
cblr-13858	149	10	the	the	DET
cblr-13858	149	11	only	only	ADJ
cblr-13858	149	12	potential	potential	ADJ
cblr-13858	149	13	obstacle	obstacle	NOUN
cblr-13858	149	14	to	to	AUX
cblr-13858	149	15	crowdfunding	crowdfunde	VERB
cblr-13858	149	16	.	.	PUNCT
cblr-13858	150	1	the	the	DET
cblr-13858	150	2	web	web	NOUN
cblr-13858	150	3	sites	site	NOUN
cblr-13858	150	4	that	that	PRON
cblr-13858	150	5	facilitate	facilitate	VERB
cblr-13858	150	6	crowdfunding	crowdfunding	NOUN
cblr-13858	150	7	face	face	VERB
cblr-13858	150	8	their	their	PRON
cblr-13858	150	9	own	own	ADJ
cblr-13858	150	10	regulatory	regulatory	ADJ
cblr-13858	150	11	issues	issue	NOUN
cblr-13858	150	12	.	.	PUNCT
cblr-13858	151	1	if	if	SCONJ
cblr-13858	151	2	crowdfunding	crowdfunde	VERB
cblr-13858	151	3	entrepreneurs	entrepreneur	NOUN
cblr-13858	151	4	offer	offer	VERB
cblr-13858	151	5	securities	security	NOUN
cblr-13858	151	6	on	on	ADP
cblr-13858	151	7	these	these	DET
cblr-13858	151	8	sites	site	NOUN
cblr-13858	151	9	,	,	PUNCT
cblr-13858	151	10	the	the	DET
cblr-13858	151	11	sites	site	NOUN
cblr-13858	151	12	could	could	AUX
cblr-13858	151	13	be	be	AUX
cblr-13858	151	14	acting	act	VERB
cblr-13858	151	15	as	as	ADP
cblr-13858	151	16	unregistered	unregistered	ADJ
cblr-13858	151	17	brokers	broker	NOUN
cblr-13858	151	18	or	or	CCONJ
cblr-13858	151	19	investment	investment	NOUN
cblr-13858	151	20	advisers	adviser	NOUN
cblr-13858	151	21	under	under	ADP
cblr-13858	151	22	opaque	opaque	ADJ
cblr-13858	151	23	sec	sec	PROPN
cblr-13858	151	24	standards	standard	NOUN
cblr-13858	151	25	.	.	PUNCT
cblr-13858	152	1	any	any	DET
cblr-13858	152	2	proposal	proposal	NOUN
cblr-13858	152	3	designed	design	VERB
cblr-13858	152	4	to	to	PART
cblr-13858	152	5	facilitate	facilitate	VERB
cblr-13858	152	6	crowdfunding	crowdfunding	NOUN
cblr-13858	152	7	must	must	AUX
cblr-13858	152	8	deal	deal	VERB
cblr-13858	152	9	with	with	ADP
cblr-13858	152	10	these	these	DET
cblr-13858	152	11	issues	issue	NOUN
cblr-13858	152	12	as	as	ADV
cblr-13858	152	13	well	well	ADV
cblr-13858	152	14	.	.	PUNCT
cblr-13858	153	1	the	the	DET
cblr-13858	153	2	white	white	PROPN
cblr-13858	153	3	house	house	PROPN
cblr-13858	153	4	recently	recently	ADV
cblr-13858	153	5	endorsed	endorse	VERB
cblr-13858	153	6	a	a	DET
cblr-13858	153	7	crowdfunding	crowdfunding	NOUN
cblr-13858	153	8	exemption	exemption	NOUN
cblr-13858	153	9	,	,	PUNCT
cblr-13858	153	10	'	'	PUNCT
cblr-13858	153	11	and	and	CCONJ
cblr-13858	153	12	the	the	DET
cblr-13858	153	13	sec	sec	PROPN
cblr-13858	153	14	has	have	AUX
cblr-13858	153	15	promised	promise	VERB
cblr-13858	153	16	to	to	PART
cblr-13858	153	17	consider	consider	VERB
cblr-13858	153	18	crowdfunding	crowdfunde	VERB
cblr-13858	153	19	as	as	ADP
cblr-13858	153	20	part	part	NOUN
cblr-13858	153	21	of	of	ADP
cblr-13858	153	22	a	a	DET
cblr-13858	153	23	general	general	ADJ
cblr-13858	153	24	review	review	NOUN
cblr-13858	153	25	of	of	ADP
cblr-13858	153	26	regulatory	regulatory	ADJ
cblr-13858	153	27	constraints	constraint	NOUN
cblr-13858	153	28	on	on	ADP
cblr-13858	153	29	capital	capital	NOUN
cblr-13858	153	30	formation	formation	NOUN
cblr-13858	153	31	.	.	PUNCT
cblr-13858	154	1	but	but	CCONJ
cblr-13858	154	2	congress	congress	PROPN
cblr-13858	154	3	may	may	AUX
cblr-13858	154	4	not	not	PART
cblr-13858	154	5	wait	wait	VERB
cblr-13858	154	6	for	for	SCONJ
cblr-13858	154	7	the	the	DET
cblr-13858	154	8	sec	sec	PROPN
cblr-13858	154	9	to	to	PART
cblr-13858	154	10	act	act	VERB
cblr-13858	154	11	.	.	PUNCT
cblr-13858	155	1	the	the	DET
cblr-13858	155	2	house	house	NOUN
cblr-13858	155	3	has	have	AUX
cblr-13858	155	4	passed	pass	VERB
cblr-13858	155	5	a	a	DET
cblr-13858	155	6	bill	bill	NOUN
cblr-13858	155	7	to	to	PART
cblr-13858	155	8	add	add	VERB
cblr-13858	155	9	a	a	DET
cblr-13858	155	10	crowdfunding	crowdfunding	NOUN
cblr-13858	155	11	exemption	exemption	NOUN
cblr-13858	155	12	to	to	ADP
cblr-13858	155	13	the	the	DET
cblr-13858	155	14	securities	security	NOUN
cblr-13858	155	15	act	act	NOUN
cblr-13858	155	16	and	and	CCONJ
cblr-13858	155	17	two	two	NUM
cblr-13858	155	18	bills	bill	NOUN
cblr-13858	155	19	have	have	AUX
cblr-13858	155	20	been	be	AUX
cblr-13858	155	21	introduced	introduce	VERB
cblr-13858	155	22	in	in	ADP
cblr-13858	155	23	the	the	DET
cblr-13858	155	24	senate	senate	PROPN
cblr-13858	155	25	.	.	PUNCT
cblr-13858	156	1	some	some	PRON
cblr-13858	156	2	of	of	ADP
cblr-13858	156	3	those	those	DET
cblr-13858	156	4	bills	bill	NOUN
cblr-13858	156	5	incorporate	incorporate	VERB
cblr-13858	156	6	some	some	PRON
cblr-13858	156	7	of	of	ADP
cblr-13858	156	8	the	the	DET
cblr-13858	156	9	recommendations	recommendation	NOUN
cblr-13858	156	10	made	make	VERB
cblr-13858	156	11	in	in	ADP
cblr-13858	156	12	this	this	DET
cblr-13858	156	13	article	article	NOUN
cblr-13858	156	14	.	.	PUNCT
cblr-13858	157	1	according	accord	VERB
cblr-13858	157	2	to	to	ADP
cblr-13858	157	3	one	one	NUM
cblr-13858	157	4	source	source	NOUN
cblr-13858	157	5	,	,	PUNCT
cblr-13858	157	6	crowdfunding	crowdfunding	NOUN
cblr-13858	157	7	sites	site	NOUN
cblr-13858	157	8	are	be	AUX
cblr-13858	157	9	"	"	PUNCT
cblr-13858	157	10	gearing	gear	VERB
cblr-13858	157	11	up	up	ADP
cblr-13858	157	12	for	for	ADP
cblr-13858	157	13	a	a	DET
cblr-13858	157	14	boom	boom	NOUN
cblr-13858	157	15	"	"	PUNCT
cblr-13858	157	16	if	if	SCONJ
cblr-13858	157	17	a	a	DET
cblr-13858	157	18	crowdfunding	crowdfunding	NOUN
cblr-13858	157	19	exemption	exemption	NOUN
cblr-13858	157	20	passes	pass	NOUN
cblr-13858	157	21	.	.	PUNCT
cblr-13858	157	22	'	'	PUNCT
cblr-13858	158	1	the	the	DET
cblr-13858	158	2	ceo	ceo	NOUN
cblr-13858	158	3	of	of	ADP
cblr-13858	158	4	one	one	NUM
cblr-13858	158	5	crowdfunding	crowdfunding	NOUN
cblr-13858	158	6	site	site	NOUN
cblr-13858	158	7	,	,	PUNCT
cblr-13858	158	8	profounder	profounder	NOUN
cblr-13858	158	9	,	,	PUNCT
cblr-13858	158	10	indicated	indicate	VERB
cblr-13858	158	11	in	in	ADP
cblr-13858	158	12	'	'	PUNCT
cblr-13858	158	13	see	see	VERB
cblr-13858	158	14	press	press	NOUN
cblr-13858	158	15	release	release	NOUN
cblr-13858	158	16	,	,	PUNCT
cblr-13858	158	17	white	white	PROPN
cblr-13858	158	18	house	house	PROPN
cblr-13858	158	19	office	office	PROPN
cblr-13858	158	20	of	of	ADP
cblr-13858	158	21	the	the	DET
cblr-13858	158	22	press	press	NOUN
cblr-13858	158	23	secretary	secretary	NOUN
cblr-13858	158	24	issues	issue	NOUN
cblr-13858	158	25	fact	fact	NOUN
cblr-13858	158	26	sheet	sheet	NOUN
cblr-13858	158	27	and	and	CCONJ
cblr-13858	158	28	overview	overview	NOUN
cblr-13858	158	29	for	for	ADP
cblr-13858	158	30	american	american	ADJ
cblr-13858	158	31	jobs	job	NOUN
cblr-13858	158	32	act	act	PROPN
cblr-13858	158	33	(	(	PUNCT
cblr-13858	158	34	sept	sept	PROPN
cblr-13858	158	35	.	.	PROPN
cblr-13858	158	36	8	8	NUM
cblr-13858	158	37	,	,	PUNCT
cblr-13858	158	38	2011	2011	NUM
cblr-13858	158	39	)	)	PUNCT
cblr-13858	159	1	[	[	X
cblr-13858	159	2	hereinafter	hereinafter	NOUN
cblr-13858	159	3	fact	fact	NOUN
cblr-13858	159	4	sheet	sheet	NOUN
cblr-13858	159	5	and	and	CCONJ
cblr-13858	159	6	overview	overview	NOUN
cblr-13858	159	7	for	for	ADP
cblr-13858	159	8	aja	aja	PROPN
cblr-13858	159	9	]	]	X
cblr-13858	159	10	,	,	PUNCT
cblr-13858	159	11	available	available	ADJ
cblr-13858	159	12	at	at	ADP
cblr-13858	159	13	http:/	http:/	PROPN
cblr-13858	159	14	/www.whitehouse.gov	/www.whitehouse.gov	PUNCT
cblr-13858	159	15	/	/	SYM
cblr-13858	159	16	the	the	DET
cblr-13858	159	17	-	-	PUNCT
cblr-13858	159	18	press	press	NOUN
cblr-13858	159	19	-	-	PUNCT
cblr-13858	159	20	office/2011/09/08	office/2011/09/08	NOUN
cblr-13858	159	21	/	/	SYM
cblr-13858	159	22	fact	fact	NOUN
cblr-13858	159	23	-	-	PUNCT
cblr-13858	159	24	sheet	sheet	NOUN
cblr-13858	159	25	-	-	PUNCT
cblr-13858	159	26	and	and	CCONJ
cblr-13858	159	27	-	-	PUNCT
cblr-13858	159	28	overview	overview	NOUN
cblr-13858	159	29	.	.	PUNCT
cblr-13858	159	30	'	'	PUNCT
cblr-13858	160	1	angus	angus	PROPN
cblr-13858	160	2	loten	loten	NOUN
cblr-13858	160	3	,	,	PUNCT
cblr-13858	160	4	crowd	crowd	NOUN
cblr-13858	160	5	-	-	PUNCT
cblr-13858	160	6	fund	fund	NOUN
cblr-13858	160	7	sites	site	NOUN
cblr-13858	160	8	eye	eye	NOUN
cblr-13858	160	9	boom	boom	NOUN
cblr-13858	160	10	,	,	PUNCT
cblr-13858	160	11	wsj.com	wsj.com	X
cblr-13858	160	12	(	(	PUNCT
cblr-13858	160	13	may	may	PROPN
cblr-13858	160	14	12	12	NUM
cblr-13858	160	15	,	,	PUNCT
cblr-13858	160	16	2011	2011	NUM
cblr-13858	160	17	)	)	PUNCT
cblr-13858	160	18	,	,	PUNCT
cblr-13858	160	19	http://online.wsj.com/article/sb100014240527487038063045762453	http://online.wsj.com/article/sb100014240527487038063045762453	PROPN
cblr-13858	160	20	60782219274.html?mod=itp_marketplace_4	60782219274.html?mod=itp_marketplace_4	NUM
cblr-13858	160	21	.	.	PUNCT
cblr-13858	161	1	the	the	DET
cblr-13858	161	2	ceo	ceo	NOUN
cblr-13858	161	3	of	of	ADP
cblr-13858	161	4	indiegogo	indiegogo	PROPN
cblr-13858	161	5	,	,	PUNCT
cblr-13858	161	6	a	a	DET
cblr-13858	161	7	crowdfunding	crowdfunding	NOUN
cblr-13858	161	8	site	site	NOUN
cblr-13858	161	9	,	,	PUNCT
cblr-13858	161	10	indicated	indicate	VERB
cblr-13858	161	11	that	that	SCONJ
cblr-13858	161	12	a	a	DET
cblr-13858	161	13	regulatory	regulatory	ADJ
cblr-13858	161	14	change	change	NOUN
cblr-13858	161	15	would	would	AUX
cblr-13858	161	16	"	"	PUNCT
cblr-13858	161	17	significantly	significantly	ADV
cblr-13858	161	18	boost	boost	VERB
cblr-13858	161	19	activity	activity	NOUN
cblr-13858	161	20	"	"	PUNCT
cblr-13858	161	21	on	on	ADP
cblr-13858	161	22	her	her	PRON
cblr-13858	161	23	site	site	NOUN
cblr-13858	161	24	.	.	PUNCT
cblr-13858	162	1	i	i	PRON
cblr-13858	162	2	d.	d.	PROPN
cblr-13858	162	3	7crowdfunding	7crowdfunding	NOUN
cblr-13858	162	4	and	and	CCONJ
cblr-13858	162	5	securities	security	NOUN
cblr-13858	162	6	la	la	ADV
cblr-13858	162	7	wsno	wsno	ADJ
cblr-13858	162	8	.	.	PUNCT
cblr-13858	163	1	i	i	PRON
cblr-13858	163	2	:	:	PUNCT
cblr-13858	163	3	1	1	X
cblr-13858	163	4	]	]	PUNCT
cblr-13858	163	5	columbia	columbia	PROPN
cblr-13858	163	6	business	business	PROPN
cblr-13858	163	7	law	law	PROPN
cblr-13858	163	8	review	review	NOUN
cblr-13858	163	9	may	may	PROPN
cblr-13858	163	10	2011	2011	NUM
cblr-13858	163	11	that	that	SCONJ
cblr-13858	163	12	she	she	PRON
cblr-13858	163	13	was	be	AUX
cblr-13858	163	14	"	"	PUNCT
cblr-13858	163	15	working	work	VERB
cblr-13858	163	16	with	with	ADP
cblr-13858	163	17	a	a	DET
cblr-13858	163	18	legal	legal	ADJ
cblr-13858	163	19	team	team	NOUN
cblr-13858	163	20	to	to	PART
cblr-13858	163	21	lay	lay	VERB
cblr-13858	163	22	the	the	DET
cblr-13858	163	23	groundwork	groundwork	NOUN
cblr-13858	163	24	for	for	ADP
cblr-13858	163	25	online	online	ADJ
cblr-13858	163	26	equity	equity	NOUN
cblr-13858	163	27	sales	sale	NOUN
cblr-13858	163	28	.	.	PUNCT
cblr-13858	164	1	"	"	PUNCT
cblr-13858	164	2	'	'	PUNCT
cblr-13858	164	3	the	the	DET
cblr-13858	164	4	devil	devil	NOUN
cblr-13858	164	5	is	be	AUX
cblr-13858	164	6	in	in	ADP
cblr-13858	164	7	the	the	DET
cblr-13858	164	8	details	detail	NOUN
cblr-13858	164	9	.	.	PUNCT
cblr-13858	165	1	crafting	craft	VERB
cblr-13858	165	2	a	a	DET
cblr-13858	165	3	crowdfunding	crowdfunding	NOUN
cblr-13858	165	4	exemption	exemption	NOUN
cblr-13858	165	5	requires	require	VERB
cblr-13858	165	6	a	a	DET
cblr-13858	165	7	careful	careful	ADJ
cblr-13858	165	8	balancing	balancing	NOUN
cblr-13858	165	9	of	of	ADP
cblr-13858	165	10	investor	investor	NOUN
cblr-13858	165	11	protection	protection	NOUN
cblr-13858	165	12	and	and	CCONJ
cblr-13858	165	13	capital	capital	NOUN
cblr-13858	165	14	formation	formation	NOUN
cblr-13858	165	15	.	.	PUNCT
cblr-13858	166	1	if	if	SCONJ
cblr-13858	166	2	the	the	DET
cblr-13858	166	3	sec	sec	PROPN
cblr-13858	166	4	leans	lean	VERB
cblr-13858	166	5	strongly	strongly	ADV
cblr-13858	166	6	toward	toward	ADP
cblr-13858	166	7	investor	investor	NOUN
cblr-13858	166	8	protection	protection	NOUN
cblr-13858	166	9	,	,	PUNCT
cblr-13858	166	10	as	as	SCONJ
cblr-13858	166	11	it	it	PRON
cblr-13858	166	12	usually	usually	ADV
cblr-13858	166	13	does	do	VERB
cblr-13858	166	14	,	,	PUNCT
cblr-13858	166	15	the	the	DET
cblr-13858	166	16	resulting	result	VERB
cblr-13858	166	17	exemption	exemption	NOUN
cblr-13858	166	18	is	be	AUX
cblr-13858	166	19	likely	likely	ADJ
cblr-13858	166	20	to	to	PART
cblr-13858	166	21	be	be	AUX
cblr-13858	166	22	too	too	ADV
cblr-13858	166	23	costly	costly	ADJ
cblr-13858	166	24	for	for	ADP
cblr-13858	166	25	many	many	ADJ
cblr-13858	166	26	small	small	ADJ
cblr-13858	166	27	businesses	business	NOUN
cblr-13858	166	28	.	.	PUNCT
cblr-13858	167	1	if	if	SCONJ
cblr-13858	167	2	,	,	PUNCT
cblr-13858	167	3	on	on	ADP
cblr-13858	167	4	the	the	DET
cblr-13858	167	5	other	other	ADJ
cblr-13858	167	6	hand	hand	NOUN
cblr-13858	167	7	,	,	PUNCT
cblr-13858	167	8	a	a	DET
cblr-13858	167	9	crowdfunding	crowdfunding	NOUN
cblr-13858	167	10	exemption	exemption	NOUN
cblr-13858	167	11	ignores	ignore	VERB
cblr-13858	167	12	investor	investor	NOUN
cblr-13858	167	13	protection	protection	NOUN
cblr-13858	167	14	concerns	concern	NOUN
cblr-13858	167	15	entirely	entirely	ADV
cblr-13858	167	16	,	,	PUNCT
cblr-13858	167	17	the	the	DET
cblr-13858	167	18	resulting	result	VERB
cblr-13858	167	19	losses	loss	NOUN
cblr-13858	167	20	may	may	AUX
cblr-13858	167	21	create	create	VERB
cblr-13858	167	22	a	a	DET
cblr-13858	167	23	regulatory	regulatory	ADJ
cblr-13858	167	24	and	and	CCONJ
cblr-13858	167	25	public	public	ADJ
cblr-13858	167	26	relations	relation	NOUN
cblr-13858	167	27	backlash	backlash	NOUN
cblr-13858	167	28	that	that	PRON
cblr-13858	167	29	will	will	AUX
cblr-13858	167	30	set	set	VERB
cblr-13858	167	31	back	back	ADP
cblr-13858	167	32	crowdfunding	crowdfunde	VERB
cblr-13858	167	33	for	for	ADP
cblr-13858	167	34	years	year	NOUN
cblr-13858	167	35	.	.	PUNCT
cblr-13858	168	1	this	this	DET
cblr-13858	168	2	article	article	NOUN
cblr-13858	168	3	argues	argue	VERB
cblr-13858	168	4	for	for	ADP
cblr-13858	168	5	an	an	DET
cblr-13858	168	6	exemption	exemption	NOUN
cblr-13858	168	7	that	that	PRON
cblr-13858	168	8	would	would	AUX
cblr-13858	168	9	free	free	VERB
cblr-13858	168	10	both	both	CCONJ
cblr-13858	168	11	crowdfunded	crowdfunde	VERB
cblr-13858	168	12	offerings	offering	NOUN
cblr-13858	168	13	and	and	CCONJ
cblr-13858	168	14	the	the	DET
cblr-13858	168	15	web	web	NOUN
cblr-13858	168	16	sites	site	NOUN
cblr-13858	168	17	on	on	ADP
cblr-13858	168	18	which	which	PRON
cblr-13858	168	19	they	they	PRON
cblr-13858	168	20	are	be	AUX
cblr-13858	168	21	made	make	VERB
cblr-13858	168	22	from	from	ADP
cblr-13858	168	23	the	the	DET
cblr-13858	168	24	regulatory	regulatory	ADJ
cblr-13858	168	25	requirements	requirement	NOUN
cblr-13858	168	26	,	,	PUNCT
cblr-13858	168	27	but	but	CCONJ
cblr-13858	168	28	not	not	PART
cblr-13858	168	29	the	the	DET
cblr-13858	168	30	antifraud	antifraud	PROPN
cblr-13858	168	31	provisions	provision	NOUN
cblr-13858	168	32	,	,	PUNCT
cblr-13858	168	33	of	of	ADP
cblr-13858	168	34	federal	federal	ADJ
cblr-13858	168	35	securities	security	NOUN
cblr-13858	168	36	law	law	NOUN
cblr-13858	168	37	.	.	PUNCT
cblr-13858	169	1	under	under	ADP
cblr-13858	169	2	the	the	DET
cblr-13858	169	3	exemption	exemption	NOUN
cblr-13858	169	4	,	,	PUNCT
cblr-13858	169	5	the	the	DET
cblr-13858	169	6	total	total	ADJ
cblr-13858	169	7	dollar	dollar	NOUN
cblr-13858	169	8	amount	amount	NOUN
cblr-13858	169	9	of	of	ADP
cblr-13858	169	10	an	an	DET
cblr-13858	169	11	entrepreneur	entrepreneur	NOUN
cblr-13858	169	12	's	's	PART
cblr-13858	169	13	offerings	offering	NOUN
cblr-13858	169	14	would	would	AUX
cblr-13858	169	15	be	be	AUX
cblr-13858	169	16	limited	limit	VERB
cblr-13858	169	17	to	to	ADP
cblr-13858	169	18	$	$	SYM
cblr-13858	169	19	250,000-$500,000	250,000-$500,000	NUM
cblr-13858	169	20	a	a	DET
cblr-13858	169	21	year	year	NOUN
cblr-13858	169	22	,	,	PUNCT
cblr-13858	169	23	with	with	ADP
cblr-13858	169	24	individual	individual	ADJ
cblr-13858	169	25	investments	investment	NOUN
cblr-13858	169	26	limited	limit	VERB
cblr-13858	169	27	to	to	ADP
cblr-13858	169	28	the	the	DET
cblr-13858	169	29	greater	great	ADJ
cblr-13858	169	30	of	of	ADP
cblr-13858	169	31	$	$	SYM
cblr-13858	169	32	500	500	NUM
cblr-13858	169	33	or	or	CCONJ
cblr-13858	169	34	2	2	NUM
cblr-13858	169	35	%	%	NOUN
cblr-13858	169	36	of	of	ADP
cblr-13858	169	37	the	the	DET
cblr-13858	169	38	investor	investor	NOUN
cblr-13858	169	39	's	's	PART
cblr-13858	169	40	annual	annual	ADJ
cblr-13858	169	41	income	income	NOUN
cblr-13858	169	42	.	.	PUNCT
cblr-13858	170	1	the	the	DET
cblr-13858	170	2	offerings	offering	NOUN
cblr-13858	170	3	would	would	AUX
cblr-13858	170	4	have	have	VERB
cblr-13858	170	5	to	to	PART
cblr-13858	170	6	be	be	AUX
cblr-13858	170	7	made	make	VERB
cblr-13858	170	8	on	on	ADP
cblr-13858	170	9	publicly	publicly	ADV
cblr-13858	170	10	accessible	accessible	ADJ
cblr-13858	170	11	crowdfunding	crowdfunding	NOUN
cblr-13858	170	12	web	web	NOUN
cblr-13858	170	13	sites	site	NOUN
cblr-13858	170	14	that	that	SCONJ
cblr-13858	170	15	,	,	PUNCT
cblr-13858	170	16	among	among	ADP
cblr-13858	170	17	other	other	ADJ
cblr-13858	170	18	things	thing	NOUN
cblr-13858	170	19	,	,	PUNCT
cblr-13858	170	20	meet	meet	VERB
cblr-13858	170	21	conflict	conflict	NOUN
cblr-13858	170	22	-	-	PUNCT
cblr-13858	170	23	of	of	ADP
cblr-13858	170	24	-	-	PUNCT
cblr-13858	170	25	interest	interest	NOUN
cblr-13858	170	26	standards	standard	NOUN
cblr-13858	170	27	and	and	CCONJ
cblr-13858	170	28	do	do	AUX
cblr-13858	170	29	not	not	PART
cblr-13858	170	30	provide	provide	VERB
cblr-13858	170	31	investment	investment	NOUN
cblr-13858	170	32	advice	advice	NOUN
cblr-13858	170	33	.	.	PUNCT
cblr-13858	171	1	part	part	NOUN
cblr-13858	171	2	ii	ii	PROPN
cblr-13858	171	3	of	of	ADP
cblr-13858	171	4	this	this	DET
cblr-13858	171	5	article	article	NOUN
cblr-13858	171	6	is	be	AUX
cblr-13858	171	7	an	an	DET
cblr-13858	171	8	introduction	introduction	NOUN
cblr-13858	171	9	to	to	ADP
cblr-13858	171	10	the	the	DET
cblr-13858	171	11	crowdfunding	crowdfunding	NOUN
cblr-13858	171	12	phenomenon	phenomenon	NOUN
cblr-13858	171	13	.	.	PUNCT
cblr-13858	172	1	it	it	PRON
cblr-13858	172	2	defines	define	VERB
cblr-13858	172	3	crowdfunding	crowdfunding	NOUN
cblr-13858	172	4	and	and	CCONJ
cblr-13858	172	5	briefly	briefly	ADV
cblr-13858	172	6	explores	explore	VERB
cblr-13858	172	7	its	its	PRON
cblr-13858	172	8	precursors	precursor	NOUN
cblr-13858	172	9	:	:	PUNCT
cblr-13858	172	10	crowdsourcing	crowdsourcing	NOUN
cblr-13858	172	11	and	and	CCONJ
cblr-13858	172	12	microfinance	microfinance	NOUN
cblr-13858	172	13	.	.	PUNCT
cblr-13858	173	1	part	part	PROPN
cblr-13858	173	2	ii	ii	PROPN
cblr-13858	173	3	also	also	ADV
cblr-13858	173	4	distinguishes	distinguish	VERB
cblr-13858	173	5	among	among	ADP
cblr-13858	173	6	five	five	NUM
cblr-13858	173	7	different	different	ADJ
cblr-13858	173	8	models	model	NOUN
cblr-13858	173	9	of	of	ADP
cblr-13858	173	10	crowdfunding	crowdfunding	NOUN
cblr-13858	173	11	:	:	PUNCT
cblr-13858	173	12	the	the	DET
cblr-13858	173	13	donation	donation	NOUN
cblr-13858	173	14	model	model	NOUN
cblr-13858	173	15	;	;	PUNCT
cblr-13858	173	16	the	the	DET
cblr-13858	173	17	reward	reward	NOUN
cblr-13858	173	18	model	model	NOUN
cblr-13858	173	19	;	;	PUNCT
cblr-13858	173	20	the	the	DET
cblr-13858	173	21	pre	pre	ADJ
cblr-13858	173	22	-	-	ADJ
cblr-13858	173	23	purchase	purchase	ADJ
cblr-13858	173	24	model	model	NOUN
cblr-13858	173	25	;	;	PUNCT
cblr-13858	173	26	the	the	DET
cblr-13858	173	27	lending	lending	NOUN
cblr-13858	173	28	model	model	NOUN
cblr-13858	173	29	,	,	PUNCT
cblr-13858	173	30	sometimes	sometimes	ADV
cblr-13858	173	31	called	call	VERB
cblr-13858	173	32	peer	peer	NOUN
cblr-13858	173	33	-	-	PUNCT
cblr-13858	173	34	to	to	ADP
cblr-13858	173	35	-	-	PUNCT
cblr-13858	173	36	peer	peer	NOUN
cblr-13858	173	37	lending	lending	NOUN
cblr-13858	173	38	;	;	PUNCT
cblr-13858	173	39	and	and	CCONJ
cblr-13858	173	40	the	the	DET
cblr-13858	173	41	equity	equity	NOUN
cblr-13858	173	42	model	model	NOUN
cblr-13858	173	43	.	.	PUNCT
cblr-13858	174	1	the	the	DET
cblr-13858	174	2	models	model	NOUN
cblr-13858	174	3	differ	differ	VERB
cblr-13858	174	4	in	in	ADP
cblr-13858	174	5	what	what	PRON
cblr-13858	174	6	,	,	PUNCT
cblr-13858	174	7	if	if	SCONJ
cblr-13858	174	8	anything	anything	PRON
cblr-13858	174	9	,	,	PUNCT
cblr-13858	174	10	contributors	contributor	NOUN
cblr-13858	174	11	are	be	AUX
cblr-13858	174	12	promised	promise	VERB
cblr-13858	174	13	in	in	ADP
cblr-13858	174	14	return	return	NOUN
cblr-13858	174	15	for	for	ADP
cblr-13858	174	16	their	their	PRON
cblr-13858	174	17	contributions	contribution	NOUN
cblr-13858	174	18	.	.	PUNCT
cblr-13858	175	1	part	part	NOUN
cblr-13858	175	2	iii	iii	NOUN
cblr-13858	175	3	discusses	discuss	VERB
cblr-13858	175	4	whether	whether	SCONJ
cblr-13858	175	5	crowdfunding	crowdfunde	VERB
cblr-13858	175	6	investments	investment	NOUN
cblr-13858	175	7	are	be	AUX
cblr-13858	175	8	securities	security	NOUN
cblr-13858	175	9	subject	subject	ADJ
cblr-13858	175	10	to	to	ADP
cblr-13858	175	11	the	the	DET
cblr-13858	175	12	securities	security	NOUN
cblr-13858	175	13	act	act	PROPN
cblr-13858	175	14	registration	registration	NOUN
cblr-13858	175	15	requirements	requirement	NOUN
cblr-13858	175	16	and	and	CCONJ
cblr-13858	175	17	concludes	conclude	VERB
cblr-13858	175	18	that	that	SCONJ
cblr-13858	175	19	the	the	DET
cblr-13858	175	20	answer	answer	NOUN
cblr-13858	175	21	depends	depend	VERB
cblr-13858	175	22	on	on	ADP
cblr-13858	175	23	the	the	DET
cblr-13858	175	24	particular	particular	ADJ
cblr-13858	175	25	form	form	NOUN
cblr-13858	175	26	of	of	ADP
cblr-13858	175	27	crowdfunding	crowdfunding	NOUN
cblr-13858	175	28	.	.	PUNCT
cblr-13858	176	1	crowdfunding	crowdfunde	VERB
cblr-13858	176	2	contributions	contribution	NOUN
cblr-13858	176	3	on	on	ADP
cblr-13858	176	4	donation	donation	NOUN
cblr-13858	176	5	,	,	PUNCT
cblr-13858	176	6	reward	reward	NOUN
cblr-13858	176	7	,	,	PUNCT
cblr-13858	176	8	and	and	CCONJ
cblr-13858	176	9	pre	pre	ADJ
cblr-13858	176	10	-	-	ADJ
cblr-13858	176	11	purchase	purchase	ADJ
cblr-13858	176	12	sites	site	NOUN
cblr-13858	176	13	are	be	AUX
cblr-13858	176	14	not	not	PART
cblr-13858	176	15	securities	security	NOUN
cblr-13858	176	16	.	.	PUNCT
cblr-13858	177	1	crowdfunding	crowdfunde	VERB
cblr-13858	177	2	investments	investment	NOUN
cblr-13858	177	3	on	on	ADP
cblr-13858	177	4	equity	equity	NOUN
cblr-13858	177	5	9	9	NUM
cblr-13858	177	6	i	i	PRON
cblr-13858	177	7	d.	d.	NOUN
cblr-13858	177	8	8	8	NUM
cblr-13858	178	1	[	[	X
cblr-13858	178	2	vol	vol	NOUN
cblr-13858	178	3	.	.	PUNCT
cblr-13858	178	4	2012	2012	NUM
cblr-13858	178	5	sites	site	NOUN
cblr-13858	178	6	would	would	AUX
cblr-13858	178	7	be	be	AUX
cblr-13858	178	8	securities	security	NOUN
cblr-13858	178	9	in	in	ADP
cblr-13858	178	10	the	the	DET
cblr-13858	178	11	usual	usual	ADJ
cblr-13858	178	12	case	case	NOUN
cblr-13858	178	13	where	where	SCONJ
cblr-13858	178	14	investors	investor	NOUN
cblr-13858	178	15	are	be	AUX
cblr-13858	178	16	promised	promise	VERB
cblr-13858	178	17	some	some	DET
cblr-13858	178	18	investment	investment	NOUN
cblr-13858	178	19	return	return	NOUN
cblr-13858	178	20	other	other	ADJ
cblr-13858	178	21	than	than	ADP
cblr-13858	178	22	the	the	DET
cblr-13858	178	23	return	return	NOUN
cblr-13858	178	24	of	of	ADP
cblr-13858	178	25	their	their	PRON
cblr-13858	178	26	capital	capital	NOUN
cblr-13858	178	27	.	.	PUNCT
cblr-13858	179	1	the	the	DET
cblr-13858	179	2	answer	answer	NOUN
cblr-13858	179	3	with	with	ADP
cblr-13858	179	4	respect	respect	NOUN
cblr-13858	179	5	to	to	ADP
cblr-13858	179	6	lending	lending	NOUN
cblr-13858	179	7	sites	site	NOUN
cblr-13858	179	8	is	be	AUX
cblr-13858	179	9	a	a	DET
cblr-13858	179	10	little	little	ADV
cblr-13858	179	11	less	less	ADV
cblr-13858	179	12	certain	certain	ADJ
cblr-13858	179	13	.	.	PUNCT
cblr-13858	180	1	if	if	SCONJ
cblr-13858	180	2	investors	investor	NOUN
cblr-13858	180	3	are	be	AUX
cblr-13858	180	4	promised	promise	VERB
cblr-13858	180	5	interest	interest	NOUN
cblr-13858	180	6	on	on	ADP
cblr-13858	180	7	their	their	PRON
cblr-13858	180	8	loans	loan	NOUN
cblr-13858	180	9	,	,	PUNCT
cblr-13858	180	10	those	those	DET
cblr-13858	180	11	investments	investment	NOUN
cblr-13858	180	12	are	be	AUX
cblr-13858	180	13	probably	probably	ADV
cblr-13858	180	14	securities	security	NOUN
cblr-13858	180	15	.	.	PUNCT
cblr-13858	181	1	if	if	SCONJ
cblr-13858	181	2	no	no	DET
cblr-13858	181	3	interest	interest	NOUN
cblr-13858	181	4	is	be	AUX
cblr-13858	181	5	offered	offer	VERB
cblr-13858	181	6	,	,	PUNCT
cblr-13858	181	7	lending	lending	NOUN
cblr-13858	181	8	sites	site	NOUN
cblr-13858	181	9	would	would	AUX
cblr-13858	181	10	not	not	PART
cblr-13858	181	11	be	be	AUX
cblr-13858	181	12	offering	offer	VERB
cblr-13858	181	13	securities	security	NOUN
cblr-13858	181	14	.	.	PUNCT
cblr-13858	182	1	part	part	NOUN
cblr-13858	182	2	iv	iv	NUM
cblr-13858	182	3	discusses	discuss	VERB
cblr-13858	182	4	the	the	DET
cblr-13858	182	5	regulatory	regulatory	ADJ
cblr-13858	182	6	issues	issue	NOUN
cblr-13858	182	7	faced	face	VERB
cblr-13858	182	8	by	by	ADP
cblr-13858	182	9	crowdfunding	crowdfunde	VERB
cblr-13858	182	10	sites	site	NOUN
cblr-13858	182	11	.	.	PUNCT
cblr-13858	183	1	even	even	ADV
cblr-13858	183	2	if	if	SCONJ
cblr-13858	183	3	crowdfunded	crowdfunde	VERB
cblr-13858	183	4	offerings	offering	NOUN
cblr-13858	183	5	are	be	AUX
cblr-13858	183	6	exempted	exempt	VERB
cblr-13858	183	7	from	from	ADP
cblr-13858	183	8	registration	registration	NOUN
cblr-13858	183	9	,	,	PUNCT
cblr-13858	183	10	the	the	DET
cblr-13858	183	11	web	web	NOUN
cblr-13858	183	12	sites	site	NOUN
cblr-13858	183	13	that	that	PRON
cblr-13858	183	14	facilitate	facilitate	VERB
cblr-13858	183	15	crowdfunding	crowdfunding	NOUN
cblr-13858	183	16	could	could	AUX
cblr-13858	183	17	still	still	ADV
cblr-13858	183	18	be	be	AUX
cblr-13858	183	19	in	in	ADP
cblr-13858	183	20	violation	violation	NOUN
cblr-13858	183	21	of	of	ADP
cblr-13858	183	22	federal	federal	ADJ
cblr-13858	183	23	securities	security	NOUN
cblr-13858	183	24	laws	law	NOUN
cblr-13858	183	25	.	.	PUNCT
cblr-13858	184	1	they	they	PRON
cblr-13858	184	2	might	might	AUX
cblr-13858	184	3	be	be	AUX
cblr-13858	184	4	acting	act	VERB
cblr-13858	184	5	as	as	ADP
cblr-13858	184	6	unregistered	unregistered	ADJ
cblr-13858	184	7	brokers	broker	NOUN
cblr-13858	184	8	,	,	PUNCT
cblr-13858	184	9	investment	investment	NOUN
cblr-13858	184	10	advisers	adviser	NOUN
cblr-13858	184	11	,	,	PUNCT
cblr-13858	184	12	or	or	CCONJ
cblr-13858	184	13	,	,	PUNCT
cblr-13858	184	14	less	less	ADV
cblr-13858	184	15	likely	likely	ADJ
cblr-13858	184	16	,	,	PUNCT
cblr-13858	184	17	exchanges	exchange	NOUN
cblr-13858	184	18	.	.	PUNCT
cblr-13858	185	1	part	part	NOUN
cblr-13858	185	2	v	v	NOUN
cblr-13858	185	3	discusses	discuss	VERB
cblr-13858	185	4	the	the	DET
cblr-13858	185	5	various	various	ADJ
cblr-13858	185	6	proposals	proposal	NOUN
cblr-13858	185	7	to	to	PART
cblr-13858	185	8	exempt	exempt	VERB
cblr-13858	185	9	crowdfunding	crowdfunding	NOUN
cblr-13858	185	10	from	from	ADP
cblr-13858	185	11	federal	federal	ADJ
cblr-13858	185	12	securities	security	NOUN
cblr-13858	185	13	law	law	NOUN
cblr-13858	185	14	and	and	CCONJ
cblr-13858	185	15	also	also	ADV
cblr-13858	185	16	briefly	briefly	ADV
cblr-13858	185	17	examines	examine	VERB
cblr-13858	185	18	the	the	DET
cblr-13858	185	19	sec	sec	PROPN
cblr-13858	185	20	's	's	PART
cblr-13858	185	21	authority	authority	NOUN
cblr-13858	185	22	to	to	PART
cblr-13858	185	23	exempt	exempt	VERB
cblr-13858	185	24	crowdfunding	crowdfunding	NOUN
cblr-13858	185	25	,	,	PUNCT
cblr-13858	185	26	concluding	conclude	VERB
cblr-13858	185	27	that	that	SCONJ
cblr-13858	185	28	crowdfunding	crowdfunding	NOUN
cblr-13858	185	29	exemptions	exemption	NOUN
cblr-13858	185	30	such	such	ADJ
cblr-13858	185	31	as	as	ADP
cblr-13858	185	32	those	those	PRON
cblr-13858	185	33	proposed	propose	VERB
cblr-13858	185	34	would	would	AUX
cblr-13858	185	35	fall	fall	VERB
cblr-13858	185	36	within	within	ADP
cblr-13858	185	37	that	that	DET
cblr-13858	185	38	authority	authority	NOUN
cblr-13858	185	39	.	.	PUNCT
cblr-13858	186	1	part	part	NOUN
cblr-13858	186	2	vi	vi	PROPN
cblr-13858	186	3	addresses	address	NOUN
cblr-13858	186	4	the	the	DET
cblr-13858	186	5	benefits	benefit	NOUN
cblr-13858	186	6	and	and	CCONJ
cblr-13858	186	7	costs	cost	NOUN
cblr-13858	186	8	of	of	ADP
cblr-13858	186	9	crowdfunding	crowdfunde	VERB
cblr-13858	186	10	.	.	PUNCT
cblr-13858	187	1	crowdfunding	crowdfunding	NOUN
cblr-13858	187	2	would	would	AUX
cblr-13858	187	3	help	help	VERB
cblr-13858	187	4	to	to	PART
cblr-13858	187	5	ease	ease	VERB
cblr-13858	187	6	the	the	DET
cblr-13858	187	7	capital	capital	NOUN
cblr-13858	187	8	gap	gap	NOUN
cblr-13858	187	9	faced	face	VERB
cblr-13858	187	10	by	by	ADP
cblr-13858	187	11	startups	startup	NOUN
cblr-13858	187	12	and	and	CCONJ
cblr-13858	187	13	very	very	ADV
cblr-13858	187	14	small	small	ADJ
cblr-13858	187	15	businesses	business	NOUN
cblr-13858	187	16	.	.	PUNCT
cblr-13858	188	1	it	it	PRON
cblr-13858	188	2	would	would	AUX
cblr-13858	188	3	extend	extend	VERB
cblr-13858	188	4	the	the	DET
cblr-13858	188	5	geographical	geographical	ADJ
cblr-13858	188	6	reach	reach	NOUN
cblr-13858	188	7	of	of	ADP
cblr-13858	188	8	small	small	ADJ
cblr-13858	188	9	-	-	PUNCT
cblr-13858	188	10	business	business	NOUN
cblr-13858	188	11	fundraising	fundraising	NOUN
cblr-13858	188	12	and	and	CCONJ
cblr-13858	188	13	make	make	VERB
cblr-13858	188	14	capital	capital	NOUN
cblr-13858	188	15	available	available	ADJ
cblr-13858	188	16	to	to	ADP
cblr-13858	188	17	poorer	poor	ADJ
cblr-13858	188	18	entrepreneurs	entrepreneur	NOUN
cblr-13858	188	19	whose	whose	DET
cblr-13858	188	20	family	family	NOUN
cblr-13858	188	21	,	,	PUNCT
cblr-13858	188	22	friends	friend	NOUN
cblr-13858	188	23	,	,	PUNCT
cblr-13858	188	24	and	and	CCONJ
cblr-13858	188	25	acquaintances	acquaintance	NOUN
cblr-13858	188	26	have	have	VERB
cblr-13858	188	27	insufficient	insufficient	ADJ
cblr-13858	188	28	funds	fund	NOUN
cblr-13858	188	29	.	.	PUNCT
cblr-13858	189	1	but	but	CCONJ
cblr-13858	189	2	these	these	DET
cblr-13858	189	3	gains	gain	NOUN
cblr-13858	189	4	come	come	VERB
cblr-13858	189	5	at	at	ADP
cblr-13858	189	6	a	a	DET
cblr-13858	189	7	potential	potential	ADJ
cblr-13858	189	8	cost	cost	NOUN
cblr-13858	189	9	.	.	PUNCT
cblr-13858	190	1	crowdfunding	crowdfunding	NOUN
cblr-13858	190	2	exposes	expose	VERB
cblr-13858	190	3	relatively	relatively	ADV
cblr-13858	190	4	unsophisticated	unsophisticated	ADJ
cblr-13858	190	5	investors	investor	NOUN
cblr-13858	190	6	to	to	ADP
cblr-13858	190	7	the	the	DET
cblr-13858	190	8	greater	great	ADJ
cblr-13858	190	9	risks	risk	NOUN
cblr-13858	190	10	associated	associate	VERB
cblr-13858	190	11	with	with	ADP
cblr-13858	190	12	small	small	ADJ
cblr-13858	190	13	business	business	NOUN
cblr-13858	190	14	offerings	offering	NOUN
cblr-13858	190	15	-	-	PUNCT
cblr-13858	190	16	illiquidity	illiquidity	NOUN
cblr-13858	190	17	,	,	PUNCT
cblr-13858	190	18	fraud	fraud	NOUN
cblr-13858	190	19	,	,	PUNCT
cblr-13858	190	20	business	business	NOUN
cblr-13858	190	21	failure	failure	NOUN
cblr-13858	190	22	,	,	PUNCT
cblr-13858	190	23	and	and	CCONJ
cblr-13858	190	24	entrepreneurial	entrepreneurial	ADJ
cblr-13858	190	25	self	self	NOUN
cblr-13858	190	26	-	-	PUNCT
cblr-13858	190	27	dealing	dealing	NOUN
cblr-13858	190	28	.	.	PUNCT
cblr-13858	191	1	properly	properly	ADV
cblr-13858	191	2	structured	structure	VERB
cblr-13858	191	3	,	,	PUNCT
cblr-13858	191	4	crowdfunding	crowdfunding	NOUN
cblr-13858	191	5	reduces	reduce	NOUN
cblr-13858	191	6	,	,	PUNCT
cblr-13858	191	7	but	but	CCONJ
cblr-13858	191	8	does	do	AUX
cblr-13858	191	9	not	not	PART
cblr-13858	191	10	eliminate	eliminate	VERB
cblr-13858	191	11	,	,	PUNCT
cblr-13858	191	12	those	those	DET
cblr-13858	191	13	risks	risk	NOUN
cblr-13858	191	14	.	.	PUNCT
cblr-13858	192	1	however	however	ADV
cblr-13858	192	2	,	,	PUNCT
cblr-13858	192	3	investors	investor	NOUN
cblr-13858	192	4	are	be	AUX
cblr-13858	192	5	already	already	ADV
cblr-13858	192	6	exposed	expose	VERB
cblr-13858	192	7	to	to	ADP
cblr-13858	192	8	those	those	DET
cblr-13858	192	9	same	same	ADJ
cblr-13858	192	10	risks	risk	NOUN
cblr-13858	192	11	in	in	ADP
cblr-13858	192	12	the	the	DET
cblr-13858	192	13	existing	exist	VERB
cblr-13858	192	14	,	,	PUNCT
cblr-13858	192	15	non	non	ADJ
cblr-13858	192	16	-	-	ADJ
cblr-13858	192	17	securities	securities	ADJ
cblr-13858	192	18	models	model	NOUN
cblr-13858	192	19	of	of	ADP
cblr-13858	192	20	crowdfunding	crowdfunde	VERB
cblr-13858	192	21	.	.	PUNCT
cblr-13858	193	1	a	a	DET
cblr-13858	193	2	crowdfunding	crowdfunde	VERB
cblr-13858	193	3	securities	security	NOUN
cblr-13858	193	4	exemption	exemption	NOUN
cblr-13858	193	5	would	would	AUX
cblr-13858	193	6	increase	increase	VERB
cblr-13858	193	7	those	those	DET
cblr-13858	193	8	investors	investor	NOUN
cblr-13858	193	9	'	'	PART
cblr-13858	193	10	potential	potential	ADJ
cblr-13858	193	11	gains	gain	NOUN
cblr-13858	193	12	while	while	SCONJ
cblr-13858	193	13	mitigating	mitigate	VERB
cblr-13858	193	14	associated	associated	ADJ
cblr-13858	193	15	risks	risk	NOUN
cblr-13858	193	16	.	.	PUNCT
cblr-13858	194	1	part	part	NOUN
cblr-13858	194	2	vii	vii	PROPN
cblr-13858	194	3	considers	consider	VERB
cblr-13858	194	4	what	what	PRON
cblr-13858	194	5	a	a	DET
cblr-13858	194	6	crowdfunding	crowdfunding	NOUN
cblr-13858	194	7	exemption	exemption	NOUN
cblr-13858	194	8	should	should	AUX
cblr-13858	194	9	look	look	VERB
cblr-13858	194	10	like	like	ADP
cblr-13858	194	11	.	.	PUNCT
cblr-13858	195	1	9no	9no	NOUN
cblr-13858	195	2	.	.	PUNCT
cblr-13858	196	1	i:1	i:1	PROPN
cblr-13858	196	2	]	]	PUNCT
cblr-13858	196	3	crowdfunding	crowdfunding	NOUN
cblr-13858	196	4	and	and	CCONJ
cblr-13858	196	5	securities	securities	PROPN
cblr-13858	196	6	la	la	PROPN
cblr-13858	196	7	ws	ws	PROPN
cblr-13858	196	8	ii	ii	PROPN
cblr-13858	196	9	.	.	PUNCT
cblr-13858	197	1	an	an	DET
cblr-13858	197	2	introduction	introduction	NOUN
cblr-13858	197	3	to	to	ADP
cblr-13858	197	4	crowdfunding	crowdfunde	VERB
cblr-13858	197	5	a.	a.	NOUN
cblr-13858	197	6	what	what	PRON
cblr-13858	197	7	is	be	AUX
cblr-13858	197	8	crowdfunding	crowdfunde	VERB
cblr-13858	197	9	?	?	PUNCT
cblr-13858	198	1	the	the	DET
cblr-13858	198	2	basic	basic	ADJ
cblr-13858	198	3	idea	idea	NOUN
cblr-13858	198	4	of	of	ADP
cblr-13858	198	5	crowdfunding	crowdfunding	NOUN
cblr-13858	198	6	is	be	AUX
cblr-13858	198	7	to	to	PART
cblr-13858	198	8	raise	raise	VERB
cblr-13858	198	9	money	money	NOUN
cblr-13858	198	10	through	through	ADP
cblr-13858	198	11	relatively	relatively	ADV
cblr-13858	198	12	small	small	ADJ
cblr-13858	198	13	contributions	contribution	NOUN
cblr-13858	198	14	from	from	ADP
cblr-13858	198	15	a	a	DET
cblr-13858	198	16	large	large	ADJ
cblr-13858	198	17	number	number	NOUN
cblr-13858	198	18	of	of	ADP
cblr-13858	198	19	people.10	people.10	NOUN
cblr-13858	198	20	using	use	VERB
cblr-13858	198	21	the	the	DET
cblr-13858	198	22	internet	internet	NOUN
cblr-13858	198	23	,	,	PUNCT
cblr-13858	198	24	an	an	DET
cblr-13858	198	25	entrepreneur	entrepreneur	NOUN
cblr-13858	198	26	can	can	AUX
cblr-13858	198	27	"	"	PUNCT
cblr-13858	198	28	in	in	ADP
cblr-13858	198	29	real	real	ADJ
cblr-13858	198	30	time	time	NOUN
cblr-13858	198	31	and	and	CCONJ
cblr-13858	198	32	with	with	ADP
cblr-13858	198	33	no	no	DET
cblr-13858	198	34	incremental	incremental	ADJ
cblr-13858	198	35	cost	cost	NOUN
cblr-13858	198	36	.	.	PUNCT
cblr-13858	198	37	.	.	PUNCT
cblr-13858	198	38	.	.	PUNCT
cblr-13858	199	1	[	[	X
cblr-13858	199	2	sell	sell	NOUN
cblr-13858	199	3	]	]	PUNCT
cblr-13858	199	4	.	.	PUNCT
cblr-13858	199	5	.	.	PUNCT
cblr-13858	199	6	.	.	PUNCT
cblr-13858	200	1	to	to	ADP
cblr-13858	200	2	literally	literally	ADV
cblr-13858	200	3	millions	million	NOUN
cblr-13858	200	4	of	of	ADP
cblr-13858	200	5	potential	potential	ADJ
cblr-13858	200	6	investors	investor	NOUN
cblr-13858	200	7	.	.	PUNCT
cblr-13858	201	1	"n	"n	NOUN
cblr-13858	202	1	no	no	DET
cblr-13858	202	2	intermediary	intermediary	NOUN
cblr-13858	202	3	such	such	ADJ
cblr-13858	202	4	as	as	ADP
cblr-13858	202	5	a	a	DET
cblr-13858	202	6	bank	bank	NOUN
cblr-13858	202	7	or	or	CCONJ
cblr-13858	202	8	an	an	DET
cblr-13858	202	9	underwriter	underwriter	NOUN
cblr-13858	202	10	is	be	AUX
cblr-13858	202	11	needed	need	VERB
cblr-13858	202	12	.	.	PUNCT
cblr-13858	203	1	2	2	NUM
cblr-13858	203	2	anyone	anyone	PRON
cblr-13858	203	3	who	who	PRON
cblr-13858	203	4	can	can	AUX
cblr-13858	203	5	convince	convince	VERB
cblr-13858	203	6	the	the	DET
cblr-13858	203	7	public	public	NOUN
cblr-13858	203	8	he	he	PRON
cblr-13858	203	9	has	have	VERB
cblr-13858	203	10	a	a	DET
cblr-13858	203	11	good	good	ADJ
cblr-13858	203	12	business	business	NOUN
cblr-13858	203	13	idea	idea	NOUN
cblr-13858	203	14	can	can	AUX
cblr-13858	203	15	become	become	VERB
cblr-13858	203	16	an	an	DET
cblr-13858	203	17	entrepreneur	entrepreneur	NOUN
cblr-13858	203	18	,	,	PUNCT
cblr-13858	203	19	and	and	CCONJ
cblr-13858	203	20	anyone	anyone	PRON
cblr-13858	203	21	with	with	ADP
cblr-13858	203	22	a	a	DET
cblr-13858	203	23	few	few	ADJ
cblr-13858	203	24	dollars	dollar	NOUN
cblr-13858	203	25	to	to	PART
cblr-13858	203	26	spend	spend	VERB
cblr-13858	203	27	can	can	AUX
cblr-13858	203	28	become	become	VERB
cblr-13858	203	29	an	an	DET
cblr-13858	203	30	investor	investor	NOUN
cblr-13858	203	31	.	.	PUNCT
cblr-13858	204	1	the	the	DET
cblr-13858	204	2	aspiring	aspiring	ADJ
cblr-13858	204	3	entrepreneur	entrepreneur	NOUN
cblr-13858	204	4	begins	begin	VERB
cblr-13858	204	5	the	the	DET
cblr-13858	204	6	process	process	NOUN
cblr-13858	204	7	by	by	ADP
cblr-13858	204	8	publishing	publish	VERB
cblr-13858	204	9	a	a	DET
cblr-13858	204	10	request	request	NOUN
cblr-13858	204	11	for	for	ADP
cblr-13858	204	12	funding	funding	NOUN
cblr-13858	204	13	on	on	ADP
cblr-13858	204	14	a	a	DET
cblr-13858	204	15	crowdfunding	crowdfunding	NOUN
cblr-13858	204	16	web	web	NOUN
cblr-13858	204	17	site	site	NOUN
cblr-13858	204	18	.	.	PUNCT
cblr-13858	205	1	the	the	DET
cblr-13858	205	2	request	request	NOUN
cblr-13858	205	3	describes	describe	VERB
cblr-13858	205	4	what	what	PRON
cblr-13858	205	5	the	the	DET
cblr-13858	205	6	entrepreneur	entrepreneur	NOUN
cblr-13858	205	7	intends	intend	VERB
cblr-13858	205	8	to	to	PART
cblr-13858	205	9	do	do	VERB
cblr-13858	205	10	with	with	ADP
cblr-13858	205	11	the	the	DET
cblr-13858	205	12	money	money	NOUN
cblr-13858	205	13	-	-	PUNCT
cblr-13858	205	14	the	the	DET
cblr-13858	205	15	proposed	propose	VERB
cblr-13858	205	16	product	product	NOUN
cblr-13858	205	17	and	and	CCONJ
cblr-13858	205	18	a	a	DET
cblr-13858	205	19	business	business	NOUN
cblr-13858	205	20	plan	plan	NOUN
cblr-13858	205	21	.	.	PUNCT
cblr-13858	206	1	it	it	PRON
cblr-13858	206	2	also	also	ADV
cblr-13858	206	3	indicates	indicate	VERB
cblr-13858	206	4	what	what	PRON
cblr-13858	206	5	,	,	PUNCT
cblr-13858	206	6	if	if	SCONJ
cblr-13858	206	7	anything	anything	PRON
cblr-13858	206	8	,	,	PUNCT
cblr-13858	206	9	people	people	NOUN
cblr-13858	206	10	who	who	PRON
cblr-13858	206	11	contribute	contribute	VERB
cblr-13858	206	12	money	money	NOUN
cblr-13858	206	13	to	to	PART
cblr-13858	206	14	finance	finance	VERB
cblr-13858	206	15	the	the	DET
cblr-13858	206	16	business	business	NOUN
cblr-13858	206	17	will	will	AUX
cblr-13858	206	18	receive	receive	VERB
cblr-13858	206	19	in	in	ADP
cblr-13858	206	20	return	return	NOUN
cblr-13858	206	21	for	for	ADP
cblr-13858	206	22	their	their	PRON
cblr-13858	206	23	contributions	contribution	NOUN
cblr-13858	206	24	.	.	PUNCT
cblr-13858	207	1	investors	investor	NOUN
cblr-13858	207	2	browse	browse	VERB
cblr-13858	207	3	through	through	ADP
cblr-13858	207	4	entrepreneurs	entrepreneur	NOUN
cblr-13858	207	5	'	'	PART
cblr-13858	207	6	listings	listing	NOUN
cblr-13858	207	7	,	,	PUNCT
cblr-13858	207	8	and	and	CCONJ
cblr-13858	207	9	,	,	PUNCT
cblr-13858	207	10	if	if	SCONJ
cblr-13858	207	11	they	they	PRON
cblr-13858	207	12	find	find	VERB
cblr-13858	207	13	one	one	NUM
cblr-13858	207	14	(	(	PUNCT
cblr-13858	207	15	or	or	CCONJ
cblr-13858	207	16	more	more	ADJ
cblr-13858	207	17	)	)	PUNCT
cblr-13858	207	18	that	that	PRON
cblr-13858	207	19	interests	interest	VERB
cblr-13858	207	20	them	they	PRON
cblr-13858	207	21	,	,	PUNCT
cblr-13858	207	22	they	they	PRON
cblr-13858	207	23	can	can	AUX
cblr-13858	207	24	contribute	contribute	VERB
cblr-13858	207	25	anything	anything	PRON
cblr-13858	207	26	from	from	ADP
cblr-13858	207	27	a	a	DET
cblr-13858	207	28	few	few	ADJ
cblr-13858	207	29	dollars	dollar	NOUN
cblr-13858	207	30	to	to	ADP
cblr-13858	207	31	the	the	DET
cblr-13858	207	32	total	total	ADJ
cblr-13858	207	33	amount	amount	NOUN
cblr-13858	207	34	the	the	DET
cblr-13858	207	35	entrepreneur	entrepreneur	NOUN
cblr-13858	207	36	is	be	AUX
cblr-13858	207	37	seeking	seek	VERB
cblr-13858	207	38	.	.	PUNCT
cblr-13858	208	1	the	the	DET
cblr-13858	208	2	web	web	NOUN
cblr-13858	208	3	site	site	NOUN
cblr-13858	208	4	on	on	ADP
cblr-13858	208	5	which	which	PRON
cblr-13858	208	6	the	the	DET
cblr-13858	208	7	funding	funding	NOUN
cblr-13858	208	8	request	request	NOUN
cblr-13858	208	9	is	be	AUX
cblr-13858	208	10	published	publish	VERB
cblr-13858	208	11	typically	typically	ADV
cblr-13858	208	12	facilitates	facilitate	VERB
cblr-13858	208	13	the	the	DET
cblr-13858	208	14	exchange	exchange	NOUN
cblr-13858	208	15	of	of	ADP
cblr-13858	208	16	funds	fund	NOUN
cblr-13858	208	17	-	-	PUNCT
cblr-13858	208	18	the	the	DET
cblr-13858	208	19	initial	initial	ADJ
cblr-13858	208	20	contributions	contribution	NOUN
cblr-13858	208	21	from	from	ADP
cblr-13858	208	22	the	the	DET
cblr-13858	208	23	investors	investor	NOUN
cblr-13858	208	24	to	to	ADP
cblr-13858	208	25	the	the	DET
cblr-13858	208	26	entrepreneurs	entrepreneur	NOUN
cblr-13858	208	27	and	and	CCONJ
cblr-13858	208	28	,	,	PUNCT
cblr-13858	208	29	if	if	SCONJ
cblr-13858	208	30	investors	investor	NOUN
cblr-13858	208	31	are	be	AUX
cblr-13858	208	32	to	to	PART
cblr-13858	208	33	receive	receive	VERB
cblr-13858	208	34	money	money	NOUN
cblr-13858	208	35	back	back	ADV
cblr-13858	208	36	,	,	PUNCT
cblr-13858	208	37	the	the	DET
cblr-13858	208	38	payments	payment	NOUN
cblr-13858	208	39	from	from	ADP
cblr-13858	208	40	the	the	DET
cblr-13858	208	41	entrepreneur	entrepreneur	NOUN
cblr-13858	208	42	back	back	ADV
cblr-13858	208	43	to	to	ADP
cblr-13858	208	44	the	the	DET
cblr-13858	208	45	investors	investor	NOUN
cblr-13858	208	46	.	.	PUNCT
cblr-13858	209	1	10	10	NUM
cblr-13858	209	2	see	see	VERB
cblr-13858	209	3	paul	paul	PROPN
cblr-13858	209	4	belleflamme	belleflamme	PROPN
cblr-13858	209	5	,	,	PUNCT
cblr-13858	209	6	thomas	thomas	PROPN
cblr-13858	209	7	lambert	lambert	PROPN
cblr-13858	209	8	&	&	CCONJ
cblr-13858	209	9	armin	armin	PROPN
cblr-13858	209	10	schwienbacher	schwienbacher	PROPN
cblr-13858	209	11	,	,	PUNCT
cblr-13858	209	12	crowdfunding	crowdfunde	VERB
cblr-13858	209	13	:	:	PUNCT
cblr-13858	209	14	tapping	tap	VERB
cblr-13858	209	15	the	the	DET
cblr-13858	209	16	right	right	ADJ
cblr-13858	209	17	crowd	crowd	NOUN
cblr-13858	209	18	2	2	NUM
cblr-13858	209	19	(	(	PUNCT
cblr-13858	209	20	center	center	NOUN
cblr-13858	209	21	for	for	ADP
cblr-13858	209	22	operations	operation	NOUN
cblr-13858	209	23	discussion	discussion	NOUN
cblr-13858	209	24	and	and	CCONJ
cblr-13858	209	25	research	research	NOUN
cblr-13858	209	26	,	,	PUNCT
cblr-13858	209	27	discussion	discussion	NOUN
cblr-13858	209	28	paper	paper	NOUN
cblr-13858	209	29	no	no	NOUN
cblr-13858	209	30	.	.	PROPN
cblr-13858	209	31	2011/32	2011/32	NUM
cblr-13858	209	32	,	,	PUNCT
cblr-13858	209	33	2011	2011	NUM
cblr-13858	209	34	)	)	PUNCT
cblr-13858	209	35	,	,	PUNCT
cblr-13858	209	36	available	available	ADJ
cblr-13858	209	37	at	at	ADP
cblr-13858	209	38	http://ssrn.com/abstract=1836873	http://ssrn.com/abstract=1836873	NOUN
cblr-13858	209	39	.	.	PUNCT
cblr-13858	210	1	n	n	PROPN
cblr-13858	210	2	stuart	stuart	PROPN
cblr-13858	210	3	r.	r.	PROPN
cblr-13858	210	4	cohn	cohn	PROPN
cblr-13858	210	5	&	&	CCONJ
cblr-13858	210	6	gregory	gregory	PROPN
cblr-13858	210	7	c.	c.	PROPN
cblr-13858	210	8	yadley	yadley	PROPN
cblr-13858	210	9	,	,	PUNCT
cblr-13858	210	10	capital	capital	NOUN
cblr-13858	210	11	offense	offense	NOUN
cblr-13858	210	12	:	:	PUNCT
cblr-13858	210	13	the	the	DET
cblr-13858	210	14	sec	sec	PROPN
cblr-13858	210	15	's	's	PART
cblr-13858	210	16	continuing	continue	VERB
cblr-13858	210	17	failure	failure	NOUN
cblr-13858	210	18	to	to	PART
cblr-13858	210	19	address	address	VERB
cblr-13858	210	20	small	small	ADJ
cblr-13858	210	21	business	business	NOUN
cblr-13858	210	22	financing	financing	NOUN
cblr-13858	210	23	concerns	concern	NOUN
cblr-13858	210	24	,	,	PUNCT
cblr-13858	210	25	4	4	NUM
cblr-13858	210	26	n.y.u	n.y.u	NOUN
cblr-13858	210	27	.	.	PUNCT
cblr-13858	211	1	j.	j.	PROPN
cblr-13858	211	2	l.	l.	PROPN
cblr-13858	211	3	&	&	CCONJ
cblr-13858	211	4	bus	bus	PROPN
cblr-13858	211	5	.	.	PUNCT
cblr-13858	212	1	1	1	NUM
cblr-13858	212	2	,	,	PUNCT
cblr-13858	212	3	6	6	NUM
cblr-13858	212	4	(	(	PUNCT
cblr-13858	212	5	2007	2007	NUM
cblr-13858	212	6	)	)	PUNCT
cblr-13858	212	7	.	.	PUNCT
cblr-13858	213	1	crowdfunding	crowdfunding	NOUN
cblr-13858	213	2	can	can	AUX
cblr-13858	213	3	also	also	ADV
cblr-13858	213	4	be	be	AUX
cblr-13858	213	5	used	use	VERB
cblr-13858	213	6	for	for	ADP
cblr-13858	213	7	nonbusiness	nonbusiness	ADJ
cblr-13858	213	8	purposes	purpose	NOUN
cblr-13858	213	9	,	,	PUNCT
cblr-13858	213	10	but	but	CCONJ
cblr-13858	213	11	this	this	DET
cblr-13858	213	12	article	article	NOUN
cblr-13858	213	13	focuses	focus	VERB
cblr-13858	213	14	only	only	ADV
cblr-13858	213	15	on	on	ADP
cblr-13858	213	16	crowdfunding	crowdfunde	VERB
cblr-13858	213	17	as	as	ADP
cblr-13858	213	18	a	a	DET
cblr-13858	213	19	way	way	NOUN
cblr-13858	213	20	for	for	SCONJ
cblr-13858	213	21	businesses	business	NOUN
cblr-13858	213	22	to	to	PART
cblr-13858	213	23	raise	raise	VERB
cblr-13858	213	24	money	money	NOUN
cblr-13858	213	25	.	.	PUNCT
cblr-13858	214	1	2	2	NUM
cblr-13858	214	2	see	see	VERB
cblr-13858	214	3	andrew	andrew	PROPN
cblr-13858	214	4	verstein	verstein	PROPN
cblr-13858	214	5	,	,	PUNCT
cblr-13858	214	6	the	the	DET
cblr-13858	214	7	misregulation	misregulation	NOUN
cblr-13858	214	8	of	of	ADP
cblr-13858	214	9	peer	peer	NOUN
cblr-13858	214	10	-	-	PUNCT
cblr-13858	214	11	to	to	ADP
cblr-13858	214	12	-	-	PUNCT
cblr-13858	214	13	peer	peer	NOUN
cblr-13858	214	14	lending	lending	NOUN
cblr-13858	214	15	,	,	PUNCT
cblr-13858	214	16	45	45	NUM
cblr-13858	214	17	u.c	u.c	PROPN
cblr-13858	214	18	.	.	PUNCT
cblr-13858	215	1	davis	davis	PROPN
cblr-13858	215	2	l.	l.	PROPN
cblr-13858	215	3	rev	rev	PROPN
cblr-13858	215	4	.	.	PUNCT
cblr-13858	216	1	(	(	PUNCT
cblr-13858	216	2	forthcoming	forthcoming	ADJ
cblr-13858	216	3	2012	2012	NUM
cblr-13858	216	4	)	)	PUNCT
cblr-13858	216	5	,	,	PUNCT
cblr-13858	217	1	available	available	ADJ
cblr-13858	217	2	at	at	ADP
cblr-13858	217	3	http://ssrn.com	http://ssrn.com	X
cblr-13858	217	4	/abstract=1823763	/abstract=1823763	PUNCT
cblr-13858	217	5	.	.	PUNCT
cblr-13858	218	1	[	[	X
cblr-13858	218	2	vol	vol	NOUN
cblr-13858	218	3	.	.	PUNCT
cblr-13858	218	4	201210	201210	NUM
cblr-13858	218	5	columbia	columbia	PROPN
cblr-13858	218	6	business	business	PROPN
cblr-13858	218	7	la	la	PROPN
cblr-13858	218	8	w	w	PROPN
cblr-13858	218	9	review	review	NOUN
cblr-13858	218	10	crowdfunding	crowdfunding	NOUN
cblr-13858	218	11	offerings	offering	NOUN
cblr-13858	218	12	are	be	AUX
cblr-13858	218	13	typically	typically	ADV
cblr-13858	218	14	rather	rather	ADV
cblr-13858	218	15	small	small	ADJ
cblr-13858	218	16	.	.	PUNCT
cblr-13858	219	1	one	one	NUM
cblr-13858	219	2	study	study	NOUN
cblr-13858	219	3	found	find	VERB
cblr-13858	219	4	that	that	SCONJ
cblr-13858	219	5	the	the	DET
cblr-13858	219	6	median	median	ADJ
cblr-13858	219	7	amount	amount	NOUN
cblr-13858	219	8	raised	raise	VERB
cblr-13858	219	9	was	be	AUX
cblr-13858	219	10	only	only	ADV
cblr-13858	219	11	$	$	SYM
cblr-13858	219	12	28,583.13	28,583.13	NUM
cblr-13858	219	13	but	but	CCONJ
cblr-13858	219	14	crowdfunding	crowdfunding	NOUN
cblr-13858	219	15	is	be	AUX
cblr-13858	219	16	not	not	PART
cblr-13858	219	17	necessarily	necessarily	ADV
cblr-13858	219	18	limited	limit	VERB
cblr-13858	219	19	to	to	ADP
cblr-13858	219	20	very	very	ADV
cblr-13858	219	21	small	small	ADJ
cblr-13858	219	22	offerings	offering	NOUN
cblr-13858	219	23	.	.	PUNCT
cblr-13858	220	1	the	the	DET
cblr-13858	220	2	largest	large	ADJ
cblr-13858	220	3	amount	amount	NOUN
cblr-13858	220	4	raised	raise	VERB
cblr-13858	220	5	in	in	ADP
cblr-13858	220	6	that	that	DET
cblr-13858	220	7	same	same	ADJ
cblr-13858	220	8	study	study	NOUN
cblr-13858	220	9	was	be	AUX
cblr-13858	220	10	over	over	ADP
cblr-13858	220	11	$	$	SYM
cblr-13858	220	12	82	82	NUM
cblr-13858	220	13	million.1	million.1	NOUN
cblr-13858	220	14	4	4	NUM
cblr-13858	220	15	and	and	CCONJ
cblr-13858	220	16	,	,	PUNCT
cblr-13858	220	17	in	in	ADP
cblr-13858	220	18	the	the	DET
cblr-13858	220	19	aggregate	aggregate	NOUN
cblr-13858	220	20	,	,	PUNCT
cblr-13858	220	21	crowdfunding	crowdfunding	NOUN
cblr-13858	220	22	is	be	AUX
cblr-13858	220	23	huge	huge	ADJ
cblr-13858	220	24	.	.	PUNCT
cblr-13858	221	1	as	as	ADP
cblr-13858	221	2	of	of	ADP
cblr-13858	221	3	december	december	PROPN
cblr-13858	221	4	2011	2011	NUM
cblr-13858	221	5	,	,	PUNCT
cblr-13858	221	6	600,000	600,000	NUM
cblr-13858	221	7	different	different	ADJ
cblr-13858	221	8	kiva	kiva	NOUN
cblr-13858	221	9	lenders	lender	NOUN
cblr-13858	221	10	had	have	AUX
cblr-13858	221	11	loaned	loan	VERB
cblr-13858	221	12	more	more	ADJ
cblr-13858	221	13	than	than	ADP
cblr-13858	221	14	$	$	SYM
cblr-13858	221	15	270	270	NUM
cblr-13858	221	16	million	million	NUM
cblr-13858	221	17	dollars	dollar	NOUN
cblr-13858	221	18	to	to	ADP
cblr-13858	221	19	more	more	ADJ
cblr-13858	221	20	than	than	ADP
cblr-13858	221	21	700,000	700,000	NUM
cblr-13858	221	22	entrepreneurs	entrepreneur	NOUN
cblr-13858	221	23	.	.	PUNCT
cblr-13858	221	24	'	'	PUNCT
cblr-13858	222	1	peer	peer	NOUN
cblr-13858	222	2	-	-	PUNCT
cblr-13858	222	3	to	to	ADP
cblr-13858	222	4	-	-	PUNCT
cblr-13858	222	5	peer	peer	NOUN
cblr-13858	222	6	lending	lending	NOUN
cblr-13858	222	7	,	,	PUNCT
cblr-13858	222	8	just	just	ADV
cblr-13858	222	9	one	one	NUM
cblr-13858	222	10	form	form	NOUN
cblr-13858	222	11	of	of	ADP
cblr-13858	222	12	crowdfunding	crowdfunding	NOUN
cblr-13858	222	13	,	,	PUNCT
cblr-13858	222	14	has	have	AUX
cblr-13858	222	15	alone	alone	ADV
cblr-13858	222	16	been	be	AUX
cblr-13858	222	17	responsible	responsible	ADJ
cblr-13858	222	18	for	for	ADP
cblr-13858	222	19	more	more	ADJ
cblr-13858	222	20	than	than	ADP
cblr-13858	222	21	$	$	SYM
cblr-13858	222	22	1	1	NUM
cblr-13858	222	23	billion	billion	NUM
cblr-13858	222	24	dollars	dollar	NOUN
cblr-13858	222	25	in	in	ADP
cblr-13858	222	26	funding	funding	NOUN
cblr-13858	222	27	,	,	PUNCT
cblr-13858	222	28	and	and	CCONJ
cblr-13858	222	29	some	some	DET
cblr-13858	222	30	industry	industry	NOUN
cblr-13858	222	31	analysts	analyst	NOUN
cblr-13858	222	32	believe	believe	VERB
cblr-13858	222	33	peer	peer	NOUN
cblr-13858	222	34	-	-	PUNCT
cblr-13858	222	35	to	to	ADP
cblr-13858	222	36	-	-	PUNCT
cblr-13858	222	37	peer	peer	NOUN
cblr-13858	222	38	lending	lending	NOUN
cblr-13858	222	39	could	could	AUX
cblr-13858	222	40	exceed	exceed	VERB
cblr-13858	222	41	$	$	SYM
cblr-13858	222	42	5	5	NUM
cblr-13858	222	43	billion	billion	NUM
cblr-13858	222	44	annually	annually	ADV
cblr-13858	222	45	by	by	ADP
cblr-13858	222	46	2013.1	2013.1	NUM
cblr-13858	222	47	the	the	DET
cblr-13858	222	48	basic	basic	ADJ
cblr-13858	222	49	concept	concept	NOUN
cblr-13858	222	50	of	of	ADP
cblr-13858	222	51	crowdfunding	crowdfunding	NOUN
cblr-13858	222	52	is	be	AUX
cblr-13858	222	53	not	not	PART
cblr-13858	222	54	new	new	ADJ
cblr-13858	222	55	.	.	PUNCT
cblr-13858	223	1	politicians	politician	NOUN
cblr-13858	223	2	have	have	AUX
cblr-13858	223	3	been	be	AUX
cblr-13858	223	4	collecting	collect	VERB
cblr-13858	223	5	small	small	ADJ
cblr-13858	223	6	campaign	campaign	NOUN
cblr-13858	223	7	donations	donation	NOUN
cblr-13858	223	8	from	from	ADP
cblr-13858	223	9	the	the	DET
cblr-13858	223	10	general	general	ADJ
cblr-13858	223	11	public	public	NOUN
cblr-13858	223	12	for	for	ADP
cblr-13858	223	13	generations	generation	NOUN
cblr-13858	223	14	.	.	PUNCT
cblr-13858	224	1	that	that	PRON
cblr-13858	224	2	,	,	PUNCT
cblr-13858	224	3	in	in	ADP
cblr-13858	224	4	essence	essence	NOUN
cblr-13858	224	5	,	,	PUNCT
cblr-13858	224	6	is	be	AUX
cblr-13858	224	7	crowdfunding	crowdfunde	VERB
cblr-13858	224	8	.	.	PUNCT
cblr-13858	224	9	"	"	PUNCT
cblr-13858	225	1	but	but	CCONJ
cblr-13858	225	2	internet	internet	NOUN
cblr-13858	225	3	-	-	PUNCT
cblr-13858	225	4	based	base	VERB
cblr-13858	225	5	crowdfunding	crowdfunding	NOUN
cblr-13858	225	6	is	be	AUX
cblr-13858	225	7	relatively	relatively	ADV
cblr-13858	225	8	new	new	ADJ
cblr-13858	225	9	.	.	PUNCT
cblr-13858	226	1	kiva	kiva	PROPN
cblr-13858	226	2	,	,	PUNCT
cblr-13858	226	3	the	the	DET
cblr-13858	226	4	leading	lead	VERB
cblr-13858	226	5	crowdfunding	crowdfunding	NOUN
cblr-13858	226	6	site	site	NOUN
cblr-13858	226	7	today	today	NOUN
cblr-13858	226	8	,	,	PUNCT
cblr-13858	226	9	did	do	AUX
cblr-13858	226	10	not	not	PART
cblr-13858	226	11	open	open	VERB
cblr-13858	226	12	for	for	ADP
cblr-13858	226	13	business	business	NOUN
cblr-13858	226	14	until	until	SCONJ
cblr-13858	226	15	2005,8	2005,8	NUM
cblr-13858	226	16	and	and	CCONJ
cblr-13858	226	17	the	the	DET
cblr-13858	226	18	term	term	NOUN
cblr-13858	226	19	"	"	PUNCT
cblr-13858	226	20	crowdfunding	crowdfunding	NOUN
cblr-13858	226	21	"	"	PUNCT
cblr-13858	226	22	did	do	AUX
cblr-13858	226	23	not	not	PART
cblr-13858	226	24	appear	appear	VERB
cblr-13858	226	25	until	until	ADP
cblr-13858	226	26	2006.1	2006.1	NUM
cblr-13858	226	27	in	in	ADP
cblr-13858	226	28	the	the	DET
cblr-13858	226	29	brief	brief	ADJ
cblr-13858	226	30	time	time	NOUN
cblr-13858	226	31	since	since	SCONJ
cblr-13858	226	32	internet	internet	NOUN
cblr-13858	226	33	-	-	PUNCT
cblr-13858	226	34	based	base	VERB
cblr-13858	226	35	crowdfunding	crowdfunding	NOUN
cblr-13858	226	36	appeared	appear	VERB
cblr-13858	226	37	,	,	PUNCT
cblr-13858	226	38	it	it	PRON
cblr-13858	226	39	has	have	AUX
cblr-13858	226	40	grown	grow	VERB
cblr-13858	226	41	exponentially	exponentially	ADV
cblr-13858	226	42	.	.	PUNCT
cblr-13858	227	1	it	it	PRON
cblr-13858	227	2	"	"	PUNCT
cblr-13858	227	3	is	be	AUX
cblr-13858	227	4	becoming	become	VERB
cblr-13858	227	5	a	a	DET
cblr-13858	227	6	big	big	ADJ
cblr-13858	227	7	business	business	NOUN
cblr-13858	227	8	,	,	PUNCT
cblr-13858	227	9	with	with	ADP
cblr-13858	227	10	a	a	DET
cblr-13858	227	11	steady	steady	ADJ
cblr-13858	227	12	13	13	NUM
cblr-13858	227	13	belleflamme	belleflamme	NOUN
cblr-13858	227	14	et	et	PROPN
cblr-13858	227	15	al	al	PROPN
cblr-13858	227	16	.	.	PROPN
cblr-13858	227	17	,	,	PUNCT
cblr-13858	227	18	supra	supra	PROPN
cblr-13858	227	19	note	note	PROPN
cblr-13858	227	20	10	10	NUM
cblr-13858	227	21	,	,	PUNCT
cblr-13858	227	22	at	at	ADP
cblr-13858	227	23	32	32	NUM
cblr-13858	227	24	-	-	SYM
cblr-13858	227	25	33	33	NUM
cblr-13858	227	26	tbl	tbl	NOUN
cblr-13858	227	27	.	.	PUNCT
cblr-13858	228	1	2	2	X
cblr-13858	228	2	.	.	X
cblr-13858	228	3	the	the	DET
cblr-13858	228	4	mean	mean	NOUN
cblr-13858	228	5	was	be	AUX
cblr-13858	228	6	$	$	SYM
cblr-13858	228	7	3.5	3.5	NUM
cblr-13858	228	8	million	million	NUM
cblr-13858	228	9	.	.	PUNCT
cblr-13858	229	1	i	i	PRON
cblr-13858	229	2	d.	d.	PROPN
cblr-13858	229	3	14	14	NUM
cblr-13858	230	1	i	i	PRON
cblr-13858	230	2	d.	d.	PROPN
cblr-13858	230	3	see	see	VERB
cblr-13858	230	4	also	also	ADV
cblr-13858	230	5	armin	armin	PROPN
cblr-13858	230	6	schwienbacher	schwienbacher	PROPN
cblr-13858	230	7	&	&	CCONJ
cblr-13858	230	8	benjamin	benjamin	PROPN
cblr-13858	230	9	larralde	larralde	PROPN
cblr-13858	230	10	,	,	PUNCT
cblr-13858	230	11	crowdfunding	crowdfunde	VERB
cblr-13858	230	12	of	of	ADP
cblr-13858	230	13	small	small	ADJ
cblr-13858	230	14	entrepreneurial	entrepreneurial	ADJ
cblr-13858	230	15	ventures	venture	NOUN
cblr-13858	230	16	,	,	PUNCT
cblr-13858	230	17	in	in	ADP
cblr-13858	230	18	handbook	handbook	NOUN
cblr-13858	230	19	of	of	ADP
cblr-13858	230	20	entrepreneurial	entrepreneurial	ADJ
cblr-13858	230	21	finance	finance	NOUN
cblr-13858	230	22	(	(	PUNCT
cblr-13858	230	23	douglas	douglas	PROPN
cblr-13858	230	24	cumming	cumming	PROPN
cblr-13858	230	25	ed	ed	NOUN
cblr-13858	230	26	.	.	PUNCT
cblr-13858	230	27	,	,	PUNCT
cblr-13858	230	28	forthcoming	forthcoming	ADJ
cblr-13858	230	29	2012	2012	NUM
cblr-13858	230	30	)	)	PUNCT
cblr-13858	230	31	,	,	PUNCT
cblr-13858	230	32	available	available	ADJ
cblr-13858	230	33	at	at	ADP
cblr-13858	230	34	:	:	PUNCT
cblr-13858	230	35	http://ssrn.com/abstract=1699183	http://ssrn.com/abstract=1699183	X
cblr-13858	230	36	(	(	PUNCT
cblr-13858	230	37	discussing	discuss	VERB
cblr-13858	230	38	plans	plan	NOUN
cblr-13858	230	39	of	of	ADP
cblr-13858	230	40	trampoline	trampoline	NOUN
cblr-13858	230	41	systems	system	NOUN
cblr-13858	230	42	,	,	PUNCT
cblr-13858	230	43	a	a	DET
cblr-13858	230	44	british	british	ADJ
cblr-13858	230	45	software	software	NOUN
cblr-13858	230	46	company	company	NOUN
cblr-13858	230	47	,	,	PUNCT
cblr-13858	230	48	to	to	PART
cblr-13858	230	49	raise	raise	VERB
cblr-13858	230	50	£	£	SYM
cblr-13858	230	51	l	l	NOUN
cblr-13858	230	52	million	million	NUM
cblr-13858	230	53	in	in	ADP
cblr-13858	230	54	four	four	NUM
cblr-13858	230	55	tranches	tranche	NOUN
cblr-13858	230	56	)	)	PUNCT
cblr-13858	230	57	.	.	PUNCT
cblr-13858	230	58	"	"	PUNCT
cblr-13858	231	1	see	see	VERB
cblr-13858	231	2	about	about	ADP
cblr-13858	231	3	us	us	PROPN
cblr-13858	231	4	statistics	statistic	NOUN
cblr-13858	231	5	,	,	PUNCT
cblr-13858	231	6	kiva	kiva	PROPN
cblr-13858	231	7	,	,	PUNCT
cblr-13858	231	8	http://www.kiva.org/aboutlstats	http://www.kiva.org/aboutlstat	NOUN
cblr-13858	231	9	(	(	PUNCT
cblr-13858	231	10	last	last	ADV
cblr-13858	231	11	visited	visit	VERB
cblr-13858	231	12	mar	mar	PROPN
cblr-13858	231	13	.	.	PROPN
cblr-13858	231	14	5	5	NUM
cblr-13858	231	15	,	,	PUNCT
cblr-13858	231	16	2012	2012	NUM
cblr-13858	231	17	)	)	PUNCT
cblr-13858	231	18	.	.	PUNCT
cblr-13858	232	1	16	16	NUM
cblr-13858	232	2	verstein	verstein	NOUN
cblr-13858	232	3	,	,	PUNCT
cblr-13858	232	4	supra	supra	PROPN
cblr-13858	232	5	note	note	NOUN
cblr-13858	232	6	12	12	NUM
cblr-13858	232	7	.	.	PUNCT
cblr-13858	232	8	"	"	PUNCT
cblr-13858	233	1	crowdfunding	crowdfunding	NOUN
cblr-13858	233	2	has	have	AUX
cblr-13858	233	3	"	"	PUNCT
cblr-13858	233	4	been	be	AUX
cblr-13858	233	5	the	the	DET
cblr-13858	233	6	backbone	backbone	NOUN
cblr-13858	233	7	of	of	ADP
cblr-13858	233	8	the	the	DET
cblr-13858	233	9	american	american	ADJ
cblr-13858	233	10	political	political	ADJ
cblr-13858	233	11	system	system	NOUN
cblr-13858	233	12	since	since	SCONJ
cblr-13858	233	13	politicians	politician	NOUN
cblr-13858	233	14	started	start	VERB
cblr-13858	233	15	kissing	kiss	VERB
cblr-13858	233	16	babies	baby	NOUN
cblr-13858	233	17	.	.	PUNCT
cblr-13858	233	18	"	"	PUNCT
cblr-13858	234	1	howe	howe	NOUN
cblr-13858	234	2	,	,	PUNCT
cblr-13858	234	3	supra	supra	PROPN
cblr-13858	234	4	note	note	NOUN
cblr-13858	234	5	1	1	NUM
cblr-13858	234	6	,	,	PUNCT
cblr-13858	234	7	at	at	ADP
cblr-13858	234	8	253	253	NUM
cblr-13858	234	9	.	.	PUNCT
cblr-13858	235	1	m	m	PROPN
cblr-13858	235	2	see	see	VERB
cblr-13858	235	3	about	about	ADP
cblr-13858	235	4	us	we	PRON
cblr-13858	235	5	history	history	NOUN
cblr-13858	235	6	,	,	PUNCT
cblr-13858	235	7	kiva	kiva	PROPN
cblr-13858	235	8	,	,	PUNCT
cblr-13858	235	9	http://www.kiva.orglabout/history	http://www.kiva.orglabout/history	NOUN
cblr-13858	235	10	(	(	PUNCT
cblr-13858	235	11	last	last	ADJ
cblr-13858	235	12	visited	visit	VERB
cblr-13858	235	13	mar	mar	PROPN
cblr-13858	235	14	.	.	PROPN
cblr-13858	235	15	5	5	NUM
cblr-13858	235	16	,	,	PUNCT
cblr-13858	235	17	2012	2012	NUM
cblr-13858	235	18	)	)	PUNCT
cblr-13858	235	19	.	.	PUNCT
cblr-13858	236	1	19	19	NUM
cblr-13858	236	2	lawton	lawton	PROPN
cblr-13858	236	3	&	&	CCONJ
cblr-13858	236	4	marom	marom	PROPN
cblr-13858	236	5	,	,	PUNCT
cblr-13858	236	6	supra	supra	ADJ
cblr-13858	236	7	note	note	NOUN
cblr-13858	236	8	2	2	NUM
cblr-13858	236	9	,	,	PUNCT
cblr-13858	236	10	at	at	ADP
cblr-13858	236	11	66	66	NUM
cblr-13858	236	12	.	.	PUNCT
cblr-13858	237	1	cro	cro	NOUN
cblr-13858	237	2	wdfunding	wdfunding	NOUN
cblr-13858	237	3	and	and	CCONJ
cblr-13858	237	4	secur1ties	secur1tie	VERB
cblr-13858	237	5	la	la	ADV
cblr-13858	237	6	wsno	wsno	ADJ
cblr-13858	237	7	.	.	PUNCT
cblr-13858	238	1	1	1	NUM
cblr-13858	238	2	:	:	SYM
cblr-13858	238	3	1	1	NUM
cblr-13858	238	4	]	]	PUNCT
cblr-13858	238	5	i	i	NOUN
cblr-13858	238	6	1	1	NUM
cblr-13858	238	7	parade	parade	NOUN
cblr-13858	238	8	of	of	ADP
cblr-13858	238	9	services	service	NOUN
cblr-13858	238	10	joining	join	VERB
cblr-13858	238	11	the	the	DET
cblr-13858	238	12	fray	fray	NOUN
cblr-13858	238	13	.	.	PUNCT
cblr-13858	239	1	"2	"2	PROPN
cblr-13858	239	2	kiva	kiva	PROPN
cblr-13858	239	3	is	be	AUX
cblr-13858	239	4	now	now	ADV
cblr-13858	239	5	so	so	ADV
cblr-13858	239	6	popular	popular	ADJ
cblr-13858	239	7	that	that	SCONJ
cblr-13858	239	8	it	it	PRON
cblr-13858	239	9	sometimes	sometimes	ADV
cblr-13858	239	10	exhausts	exhaust	VERB
cblr-13858	239	11	its	its	PRON
cblr-13858	239	12	available	available	ADJ
cblr-13858	239	13	lending	lending	NOUN
cblr-13858	239	14	opportunities.21	opportunities.21	NOUN
cblr-13858	239	15	crowdfunding	crowdfunding	NOUN
cblr-13858	239	16	has	have	AUX
cblr-13858	239	17	been	be	AUX
cblr-13858	239	18	especially	especially	ADV
cblr-13858	239	19	popular	popular	ADJ
cblr-13858	239	20	in	in	ADP
cblr-13858	239	21	the	the	DET
cblr-13858	239	22	entertainment	entertainment	NOUN
cblr-13858	239	23	industry,22	industry,22	NOUN
cblr-13858	239	24	but	but	CCONJ
cblr-13858	239	25	there	there	PRON
cblr-13858	239	26	are	be	VERB
cblr-13858	239	27	crowdfunding	crowdfunde	VERB
cblr-13858	239	28	sites	site	NOUN
cblr-13858	239	29	for	for	ADP
cblr-13858	239	30	all	all	DET
cblr-13858	239	31	types	type	NOUN
cblr-13858	239	32	of	of	ADP
cblr-13858	239	33	projects	project	NOUN
cblr-13858	239	34	.	.	PUNCT
cblr-13858	240	1	some	some	DET
cblr-13858	240	2	crowdfunding	crowdfunding	NOUN
cblr-13858	240	3	sites	site	NOUN
cblr-13858	240	4	are	be	AUX
cblr-13858	240	5	limited	limit	VERB
cblr-13858	240	6	to	to	ADP
cblr-13858	240	7	specific	specific	ADJ
cblr-13858	240	8	businesses	business	NOUN
cblr-13858	240	9	or	or	CCONJ
cblr-13858	240	10	industries	industry	NOUN
cblr-13858	240	11	,	,	PUNCT
cblr-13858	240	12	such	such	ADJ
cblr-13858	240	13	as	as	ADP
cblr-13858	240	14	book	book	NOUN
cblr-13858	240	15	publishing,23	publishing,23	NOUN
cblr-13858	240	16	gaming	gaming	NOUN
cblr-13858	240	17	music,25	music,25	NOUN
cblr-13858	240	18	journalism,26	journalism,26	NOUN
cblr-13858	240	19	or	or	CCONJ
cblr-13858	240	20	agriculture	agriculture	PROPN
cblr-13858	240	21	20	20	NUM
cblr-13858	240	22	brian	brian	PROPN
cblr-13858	240	23	oliver	oliver	PROPN
cblr-13858	240	24	bennett	bennett	PROPN
cblr-13858	240	25	,	,	PUNCT
cblr-13858	240	26	crowdfunding	crowdfunde	VERB
cblr-13858	240	27	101	101	NUM
cblr-13858	240	28	:	:	PUNCT
cblr-13858	240	29	how	how	SCONJ
cblr-13858	240	30	rising	rise	VERB
cblr-13858	240	31	startups	startup	NOUN
cblr-13858	240	32	use	use	VERB
cblr-13858	240	33	the	the	DET
cblr-13858	240	34	web	web	NOUN
cblr-13858	240	35	as	as	ADP
cblr-13858	240	36	a	a	DET
cblr-13858	240	37	vc	vc	NOUN
cblr-13858	240	38	firm	firm	NOUN
cblr-13858	240	39	,	,	PUNCT
cblr-13858	240	40	laptopmag.com	laptopmag.com	X
cblr-13858	240	41	(	(	PUNCT
cblr-13858	240	42	july	july	PROPN
cblr-13858	240	43	9	9	NUM
cblr-13858	240	44	,	,	PUNCT
cblr-13858	240	45	2011	2011	NUM
cblr-13858	240	46	)	)	PUNCT
cblr-13858	240	47	,	,	PUNCT
cblr-13858	240	48	http://blog.laptop	http://blog.laptop	VERB
cblr-13858	240	49	mag.com/crowdfunding-101-how-rising-startups-use-the-web-as-a-vc-firm	mag.com/crowdfunding-101-how-rising-startups-use-the-web-as-a-vc-firm	NOUN
cblr-13858	240	50	.	.	PUNCT
cblr-13858	241	1	21	21	NUM
cblr-13858	241	2	see	see	NOUN
cblr-13858	241	3	howe	howe	NOUN
cblr-13858	241	4	,	,	PUNCT
cblr-13858	241	5	supra	supra	PROPN
cblr-13858	241	6	note	note	NOUN
cblr-13858	241	7	1	1	NUM
cblr-13858	241	8	,	,	PUNCT
cblr-13858	241	9	at	at	ADP
cblr-13858	241	10	248	248	NUM
cblr-13858	241	11	;	;	PUNCT
cblr-13858	241	12	jilian	jilian	ADJ
cblr-13858	241	13	mincer	mincer	NOUN
cblr-13858	241	14	,	,	PUNCT
cblr-13858	241	15	microlending	microlende	VERB
cblr-13858	241	16	for	for	ADP
cblr-13858	241	17	microbankers	microbanker	NOUN
cblr-13858	241	18	,	,	PUNCT
cblr-13858	241	19	wall	wall	PROPN
cblr-13858	241	20	st	st	PROPN
cblr-13858	241	21	.	.	PROPN
cblr-13858	241	22	j.	j.	PROPN
cblr-13858	241	23	,	,	PUNCT
cblr-13858	241	24	mar	mar	PROPN
cblr-13858	241	25	.	.	PROPN
cblr-13858	241	26	20	20	NUM
cblr-13858	241	27	,	,	PUNCT
cblr-13858	241	28	2008	2008	NUM
cblr-13858	241	29	,	,	PUNCT
cblr-13858	241	30	at	at	ADP
cblr-13858	241	31	d2	d2	PROPN
cblr-13858	241	32	.	.	PUNCT
cblr-13858	241	33	22	22	NUM
cblr-13858	241	34	see	see	VERB
cblr-13858	241	35	belleflamme	belleflamme	PROPN
cblr-13858	241	36	et	et	PROPN
cblr-13858	241	37	al	al	PROPN
cblr-13858	241	38	.	.	PROPN
cblr-13858	241	39	,	,	PUNCT
cblr-13858	241	40	supra	supra	PROPN
cblr-13858	241	41	note	note	PROPN
cblr-13858	241	42	10	10	NUM
cblr-13858	241	43	,	,	PUNCT
cblr-13858	241	44	at	at	ADP
cblr-13858	241	45	2	2	NUM
cblr-13858	241	46	-	-	SYM
cblr-13858	241	47	3	3	NUM
cblr-13858	241	48	;	;	PUNCT
cblr-13858	241	49	tim	tim	PROPN
cblr-13858	241	50	kappel	kappel	PROPN
cblr-13858	241	51	,	,	PUNCT
cblr-13858	241	52	ex	ex	NOUN
cblr-13858	241	53	ante	ante	NOUN
cblr-13858	241	54	crowdfunding	crowdfunding	NOUN
cblr-13858	241	55	and	and	CCONJ
cblr-13858	241	56	the	the	DET
cblr-13858	241	57	recording	recording	NOUN
cblr-13858	241	58	industry	industry	NOUN
cblr-13858	241	59	:	:	PUNCT
cblr-13858	241	60	a	a	DET
cblr-13858	241	61	model	model	NOUN
cblr-13858	241	62	for	for	ADP
cblr-13858	241	63	the	the	DET
cblr-13858	241	64	u.s	u.s	PROPN
cblr-13858	241	65	.	.	PROPN
cblr-13858	241	66	?	?	PUNCT
cblr-13858	241	67	,	,	PUNCT
cblr-13858	241	68	29	29	NUM
cblr-13858	241	69	loy	loy	PROPN
cblr-13858	241	70	.	.	PUNCT
cblr-13858	242	1	l.a	l.a	PROPN
cblr-13858	242	2	.	.	PROPN
cblr-13858	242	3	ent	ent	PROPN
cblr-13858	242	4	.	.	PUNCT
cblr-13858	243	1	l.	l.	PROPN
cblr-13858	243	2	rev	rev	PROPN
cblr-13858	243	3	.	.	PROPN
cblr-13858	243	4	375	375	NUM
cblr-13858	243	5	,	,	PUNCT
cblr-13858	243	6	375	375	NUM
cblr-13858	243	7	-	-	SYM
cblr-13858	243	8	76	76	NUM
cblr-13858	243	9	(	(	PUNCT
cblr-13858	243	10	2009	2009	NUM
cblr-13858	243	11	)	)	PUNCT
cblr-13858	243	12	(	(	PUNCT
cblr-13858	243	13	"	"	PUNCT
cblr-13858	243	14	[	[	X
cblr-13858	243	15	crowdfunding	crowdfunding	NOUN
cblr-13858	243	16	]	]	PUNCT
cblr-13858	243	17	has	have	AUX
cblr-13858	243	18	been	be	AUX
cblr-13858	243	19	increasingly	increasingly	ADV
cblr-13858	243	20	used	use	VERB
cblr-13858	243	21	in	in	ADP
cblr-13858	243	22	the	the	DET
cblr-13858	243	23	entertainment	entertainment	NOUN
cblr-13858	243	24	industry	industry	NOUN
cblr-13858	243	25	by	by	ADP
cblr-13858	243	26	independent	independent	ADJ
cblr-13858	243	27	filmmakers	filmmaker	NOUN
cblr-13858	243	28	,	,	PUNCT
cblr-13858	243	29	artists	artist	NOUN
cblr-13858	243	30	,	,	PUNCT
cblr-13858	243	31	writers	writer	NOUN
cblr-13858	243	32	,	,	PUNCT
cblr-13858	243	33	and	and	CCONJ
cblr-13858	243	34	performers	performer	NOUN
cblr-13858	243	35	.	.	PUNCT
cblr-13858	243	36	"	"	PUNCT
cblr-13858	243	37	)	)	PUNCT
cblr-13858	243	38	.	.	PUNCT
cblr-13858	244	1	not	not	PART
cblr-13858	244	2	surprisingly	surprisingly	ADV
cblr-13858	244	3	,	,	PUNCT
cblr-13858	244	4	politicians	politician	NOUN
cblr-13858	244	5	have	have	AUX
cblr-13858	244	6	adapted	adapt	VERB
cblr-13858	244	7	their	their	PRON
cblr-13858	244	8	crowdfunding	crowdfunding	NOUN
cblr-13858	244	9	to	to	ADP
cblr-13858	244	10	the	the	DET
cblr-13858	244	11	internet	internet	NOUN
cblr-13858	244	12	as	as	ADV
cblr-13858	244	13	well	well	ADV
cblr-13858	244	14	.	.	PUNCT
cblr-13858	245	1	barak	barak	PROPN
cblr-13858	245	2	obama	obama	PROPN
cblr-13858	245	3	used	use	VERB
cblr-13858	245	4	the	the	DET
cblr-13858	245	5	internet	internet	NOUN
cblr-13858	245	6	in	in	ADP
cblr-13858	245	7	his	his	PRON
cblr-13858	245	8	2008	2008	NUM
cblr-13858	245	9	presidential	presidential	ADJ
cblr-13858	245	10	campaign	campaign	NOUN
cblr-13858	245	11	to	to	PART
cblr-13858	245	12	raise	raise	VERB
cblr-13858	245	13	over	over	ADP
cblr-13858	245	14	$	$	SYM
cblr-13858	245	15	750	750	NUM
cblr-13858	245	16	million	million	NUM
cblr-13858	245	17	from	from	ADP
cblr-13858	245	18	just	just	ADV
cblr-13858	245	19	under	under	ADP
cblr-13858	245	20	four	four	NUM
cblr-13858	245	21	million	million	NUM
cblr-13858	245	22	donors	donor	NOUN
cblr-13858	245	23	.	.	PUNCT
cblr-13858	246	1	tahman	tahman	PROPN
cblr-13858	246	2	bradley	bradley	PROPN
cblr-13858	246	3	,	,	PUNCT
cblr-13858	246	4	final	final	ADJ
cblr-13858	246	5	fundraising	fundraising	NOUN
cblr-13858	246	6	figure	figure	NOUN
cblr-13858	246	7	:	:	PUNCT
cblr-13858	246	8	obama	obama	PROPN
cblr-13858	246	9	's	's	PART
cblr-13858	246	10	$	$	SYM
cblr-13858	246	11	750	750	NUM
cblr-13858	246	12	m	m	NOUN
cblr-13858	246	13	,	,	PUNCT
cblr-13858	246	14	abc	abc	PROPN
cblr-13858	246	15	news	news	PROPN
cblr-13858	246	16	(	(	PUNCT
cblr-13858	246	17	dec	dec	PROPN
cblr-13858	246	18	.	.	PROPN
cblr-13858	246	19	5	5	NUM
cblr-13858	246	20	,	,	PUNCT
cblr-13858	246	21	2008	2008	NUM
cblr-13858	246	22	)	)	PUNCT
cblr-13858	246	23	,	,	PUNCT
cblr-13858	246	24	http://abcnews.go.com/politics/vote2008/story?id=6397572&page=1	http://abcnews.go.com/politics/vote2008/story?id=6397572&page=1	PROPN
cblr-13858	246	25	.	.	PROPN
cblr-13858	246	26	13	13	NUM
cblr-13858	246	27	see	see	VERB
cblr-13858	246	28	,	,	PUNCT
cblr-13858	246	29	e.g.	e.g.	ADV
cblr-13858	246	30	,	,	PUNCT
cblr-13858	246	31	unbound	unbound	NOUN
cblr-13858	246	32	:	:	PUNCT
cblr-13858	246	33	books	book	NOUN
cblr-13858	246	34	are	be	AUX
cblr-13858	246	35	now	now	ADV
cblr-13858	246	36	in	in	ADP
cblr-13858	246	37	your	your	PRON
cblr-13858	246	38	hands	hand	NOUN
cblr-13858	246	39	,	,	PUNCT
cblr-13858	247	1	http://www	http://www	PROPN
cblr-13858	247	2	.	.	PUNCT
cblr-13858	247	3	unbound.co.uk/	unbound.co.uk/	PROPN
cblr-13858	248	1	(	(	PUNCT
cblr-13858	248	2	last	last	ADJ
cblr-13858	248	3	visited	visit	VERB
cblr-13858	248	4	mar	mar	PROPN
cblr-13858	248	5	.	.	PROPN
cblr-13858	248	6	5	5	NUM
cblr-13858	248	7	,	,	PUNCT
cblr-13858	248	8	2012	2012	NUM
cblr-13858	248	9	)	)	PUNCT
cblr-13858	248	10	.	.	PUNCT
cblr-13858	249	1	see	see	VERB
cblr-13858	249	2	also	also	ADV
cblr-13858	249	3	keith	keith	PROPN
cblr-13858	249	4	wagstaff	wagstaff	PROPN
cblr-13858	249	5	,	,	PUNCT
cblr-13858	249	6	is	be	AUX
cblr-13858	249	7	crowdfunding	crowdfunde	VERB
cblr-13858	249	8	the	the	DET
cblr-13858	249	9	future	future	NOUN
cblr-13858	249	10	of	of	ADP
cblr-13858	249	11	book	book	NOUN
cblr-13858	249	12	publishing	publishing	NOUN
cblr-13858	249	13	?	?	PUNCT
cblr-13858	249	14	,	,	PUNCT
cblr-13858	249	15	the	the	DET
cblr-13858	249	16	utopianist	utopianist	ADJ
cblr-13858	249	17	(	(	PUNCT
cblr-13858	249	18	june	june	PROPN
cblr-13858	249	19	22	22	NUM
cblr-13858	249	20	,	,	PUNCT
cblr-13858	249	21	2001	2001	NUM
cblr-13858	249	22	)	)	PUNCT
cblr-13858	249	23	,	,	PUNCT
cblr-13858	249	24	http://utopianist.com/2011/06/is-crowdfunding-the-future-of-bookpublishing/	http://utopianist.com/2011/06/is-crowdfunding-the-future-of-bookpublishing/	VERB
cblr-13858	249	25	(	(	PUNCT
cblr-13858	249	26	discussing	discuss	VERB
cblr-13858	249	27	how	how	SCONJ
cblr-13858	249	28	crowd	crowd	NOUN
cblr-13858	249	29	-	-	PUNCT
cblr-13858	249	30	funding	funding	NOUN
cblr-13858	249	31	works	work	NOUN
cblr-13858	249	32	in	in	ADP
cblr-13858	249	33	book	book	NOUN
cblr-13858	249	34	publishing	publishing	NOUN
cblr-13858	249	35	)	)	PUNCT
cblr-13858	249	36	.	.	PUNCT
cblr-13858	250	1	24	24	NUM
cblr-13858	250	2	see	see	VERB
cblr-13858	250	3	8	8	NUM
cblr-13858	250	4	-	-	PUNCT
cblr-13858	250	5	bit	bit	NOUN
cblr-13858	250	6	funding	funding	NOUN
cblr-13858	250	7	,	,	PUNCT
cblr-13858	250	8	http://www.8bitfunding.com/index.php	http://www.8bitfunding.com/index.php	PROPN
cblr-13858	250	9	(	(	PUNCT
cblr-13858	250	10	last	last	ADJ
cblr-13858	250	11	visited	visit	VERB
cblr-13858	250	12	mar	mar	PROPN
cblr-13858	250	13	.	.	PROPN
cblr-13858	250	14	5	5	NUM
cblr-13858	250	15	,	,	PUNCT
cblr-13858	250	16	2012	2012	NUM
cblr-13858	250	17	)	)	PUNCT
cblr-13858	250	18	.	.	PUNCT
cblr-13858	251	1	see	see	VERB
cblr-13858	251	2	also	also	ADV
cblr-13858	251	3	the	the	DET
cblr-13858	251	4	power	power	NOUN
cblr-13858	251	5	of	of	ADP
cblr-13858	251	6	crowd	crowd	NOUN
cblr-13858	251	7	funding	funding	NOUN
cblr-13858	251	8	,	,	PUNCT
cblr-13858	251	9	edge	edge	NOUN
cblr-13858	251	10	(	(	PUNCT
cblr-13858	251	11	june	june	PROPN
cblr-13858	251	12	20	20	NUM
cblr-13858	251	13	,	,	PUNCT
cblr-13858	251	14	2011	2011	NUM
cblr-13858	251	15	)	)	PUNCT
cblr-13858	251	16	,	,	PUNCT
cblr-13858	251	17	http://www.next-gen.biz/features/powertothepeoplefeature	http://www.next-gen.biz/features/powertothepeoplefeature	PROPN
cblr-13858	251	18	(	(	PUNCT
cblr-13858	251	19	discussing	discuss	VERB
cblr-13858	251	20	how	how	SCONJ
cblr-13858	251	21	crowdfunding	crowdfunding	NOUN
cblr-13858	251	22	works	work	VERB
cblr-13858	251	23	in	in	ADP
cblr-13858	251	24	the	the	DET
cblr-13858	251	25	video	video	NOUN
cblr-13858	251	26	game	game	NOUN
cblr-13858	251	27	industry	industry	NOUN
cblr-13858	251	28	)	)	PUNCT
cblr-13858	251	29	.	.	PUNCT
cblr-13858	252	1	25	25	NUM
cblr-13858	252	2	see	see	VERB
cblr-13858	252	3	my	my	PRON
cblr-13858	252	4	major	major	ADJ
cblr-13858	252	5	company	company	NOUN
cblr-13858	252	6	,	,	PUNCT
cblr-13858	252	7	http://www.mymajorcompany.co.uk/	http://www.mymajorcompany.co.uk/	PUNCT
cblr-13858	252	8	(	(	PUNCT
cblr-13858	252	9	last	last	ADJ
cblr-13858	252	10	visited	visit	VERB
cblr-13858	252	11	mar	mar	PROPN
cblr-13858	252	12	.	.	PROPN
cblr-13858	252	13	5	5	NUM
cblr-13858	252	14	,	,	PUNCT
cblr-13858	252	15	2012	2012	NUM
cblr-13858	252	16	)	)	PUNCT
cblr-13858	252	17	;	;	PUNCT
cblr-13858	252	18	sellaband	sellaband	ADJ
cblr-13858	252	19	,	,	PUNCT
cblr-13858	252	20	https://www.sellaband.com/	https://www.sellaband.com/	NOUN
cblr-13858	252	21	(	(	PUNCT
cblr-13858	252	22	last	last	ADV
cblr-13858	252	23	visited	visit	VERB
cblr-13858	252	24	mar	mar	PROPN
cblr-13858	252	25	.	.	PROPN
cblr-13858	252	26	5	5	NUM
cblr-13858	252	27	,	,	PUNCT
cblr-13858	252	28	2012	2012	NUM
cblr-13858	252	29	)	)	PUNCT
cblr-13858	252	30	.	.	PUNCT
cblr-13858	253	1	crowdfunding	crowdfunding	NOUN
cblr-13858	253	2	works	work	NOUN
cblr-13858	253	3	in	in	ADP
cblr-13858	253	4	the	the	DET
cblr-13858	253	5	music	music	NOUN
cblr-13858	253	6	industry	industry	NOUN
cblr-13858	253	7	"	"	PUNCT
cblr-13858	253	8	because	because	SCONJ
cblr-13858	253	9	most	most	ADJ
cblr-13858	253	10	of	of	ADP
cblr-13858	253	11	the	the	DET
cblr-13858	253	12	market	market	NOUN
cblr-13858	253	13	is	be	AUX
cblr-13858	253	14	controlled	control	VERB
cblr-13858	253	15	by	by	ADP
cblr-13858	253	16	a	a	DET
cblr-13858	253	17	handful	handful	NOUN
cblr-13858	253	18	of	of	ADP
cblr-13858	253	19	risk	risk	NOUN
cblr-13858	253	20	-	-	PUNCT
cblr-13858	253	21	averse	averse	ADJ
cblr-13858	253	22	major	major	ADJ
cblr-13858	253	23	labels	label	NOUN
cblr-13858	253	24	and	and	CCONJ
cblr-13858	253	25	there	there	PRON
cblr-13858	253	26	's	be	VERB
cblr-13858	253	27	a	a	DET
cblr-13858	253	28	huge	huge	ADJ
cblr-13858	253	29	underground	underground	NOUN
cblr-13858	253	30	that	that	PRON
cblr-13858	253	31	wants	want	VERB
cblr-13858	253	32	to	to	PART
cblr-13858	253	33	break	break	VERB
cblr-13858	253	34	in	in	ADP
cblr-13858	253	35	.	.	PUNCT
cblr-13858	253	36	"	"	PUNCT
cblr-13858	254	1	john	john	PROPN
cblr-13858	254	2	tozzi	tozzi	PROPN
cblr-13858	254	3	,	,	PUNCT
cblr-13858	254	4	scoring	score	VERB
cblr-13858	254	5	money	money	NOUN
cblr-13858	254	6	from	from	ADP
cblr-13858	254	7	an	an	DET
cblr-13858	254	8	online	online	ADJ
cblr-13858	254	9	crowd	crowd	NOUN
cblr-13858	254	10	,	,	PUNCT
cblr-13858	254	11	bloomberg	bloomberg	PROPN
cblr-13858	254	12	businessweek	businessweek	PROPN
cblr-13858	254	13	(	(	PUNCT
cblr-13858	254	14	sept	sept	PROPN
cblr-13858	254	15	.	.	PROPN
cblr-13858	254	16	10	10	NUM
cblr-13858	254	17	,	,	PUNCT
cblr-13858	254	18	2007	2007	NUM
cblr-13858	254	19	,	,	PUNCT
cblr-13858	254	20	8:15	8:15	NUM
cblr-13858	254	21	am	am	NOUN
cblr-13858	254	22	)	)	PUNCT
cblr-13858	254	23	,	,	PUNCT
cblr-13858	254	24	http://www.businessweek.com/smallbiz/content/sep2007/sb	http://www.businessweek.com/smallbiz/content/sep2007/sb	X
cblr-13858	254	25	20070910_540342.htm	20070910_540342.htm	X
cblr-13858	254	26	(	(	PUNCT
cblr-13858	254	27	quoting	quote	VERB
cblr-13858	254	28	pim	pim	PROPN
cblr-13858	254	29	tetist	tetist	NOUN
cblr-13858	254	30	,	,	PUNCT
cblr-13858	254	31	one	one	NUM
cblr-13858	254	32	of	of	ADP
cblr-13858	254	33	the	the	DET
cblr-13858	254	34	founders	founder	NOUN
cblr-13858	254	35	of	of	ADP
cblr-13858	254	36	sellaband	sellaband	ADJ
cblr-13858	254	37	)	)	PUNCT
cblr-13858	254	38	.	.	PUNCT
cblr-13858	255	1	26	26	NUM
cblr-13858	255	2	see	see	VERB
cblr-13858	255	3	spot.us	spot.us	NOUN
cblr-13858	255	4	:	:	PUNCT
cblr-13858	255	5	community	community	NOUN
cblr-13858	255	6	-	-	PUNCT
cblr-13858	255	7	funded	fund	VERB
cblr-13858	255	8	reporting	reporting	NOUN
cblr-13858	255	9	,	,	PUNCT
cblr-13858	255	10	http://spot.us/	http://spot.us/	NOUN
cblr-13858	255	11	(	(	PUNCT
cblr-13858	255	12	last	last	ADV
cblr-13858	255	13	visited	visit	VERB
cblr-13858	255	14	mar	mar	PROPN
cblr-13858	255	15	.	.	PROPN
cblr-13858	255	16	5	5	NUM
cblr-13858	255	17	,	,	PUNCT
cblr-13858	255	18	2012	2012	NUM
cblr-13858	255	19	)	)	PUNCT
cblr-13858	255	20	.	.	PUNCT
cblr-13858	256	1	col	col	PROPN
cblr-13858	256	2	umia	umia	PROPN
cblr-13858	256	3	b	b	PROPN
cblr-13858	256	4	usiness	usiness	PROPN
cblr-13858	256	5	la	la	PROPN
cblr-13858	256	6	w	w	PROPN
cblr-13858	256	7	re	re	PROPN
cblr-13858	256	8	vie	vie	PROPN
cblr-13858	256	9	w	w	PROPN
cblr-13858	257	1	[	[	X
cblr-13858	257	2	vol	vol	NOUN
cblr-13858	257	3	.	.	PUNCT
cblr-13858	257	4	201212	201212	NUM
cblr-13858	257	5	cro	cro	NOUN
cblr-13858	257	6	wdfunding	wdfunding	NOUN
cblr-13858	257	7	and	and	CCONJ
cblr-13858	257	8	securities	security	NOUN
cblr-13858	257	9	laws	law	NOUN
cblr-13858	257	10	and	and	CCONJ
cblr-13858	257	11	ranching.27	ranching.27	PROPN
cblr-13858	257	12	crowdfunding	crowdfunding	NOUN
cblr-13858	257	13	is	be	AUX
cblr-13858	257	14	even	even	ADV
cblr-13858	257	15	being	be	AUX
cblr-13858	257	16	used	use	VERB
cblr-13858	257	17	to	to	PART
cblr-13858	257	18	fund	fund	VERB
cblr-13858	257	19	scientific	scientific	ADJ
cblr-13858	257	20	research	research	NOUN
cblr-13858	257	21	projects.2	projects.2	SCONJ
cblr-13858	257	22	8	8	NUM
cblr-13858	257	23	other	other	ADJ
cblr-13858	257	24	sites	site	NOUN
cblr-13858	257	25	are	be	AUX
cblr-13858	257	26	open	open	ADJ
cblr-13858	257	27	to	to	ADP
cblr-13858	257	28	broader	broad	ADJ
cblr-13858	257	29	categories	category	NOUN
cblr-13858	257	30	,	,	PUNCT
cblr-13858	257	31	such	such	ADJ
cblr-13858	257	32	as	as	ADP
cblr-13858	257	33	"	"	PUNCT
cblr-13858	257	34	creative	creative	ADJ
cblr-13858	257	35	projects"29	projects"29	PROPN
cblr-13858	257	36	or	or	CCONJ
cblr-13858	257	37	"	"	PUNCT
cblr-13858	257	38	sustainable	sustainable	ADJ
cblr-13858	257	39	or	or	CCONJ
cblr-13858	257	40	fair	fair	ADJ
cblr-13858	257	41	trade	trade	NOUN
cblr-13858	257	42	"	"	PUNCT
cblr-13858	257	43	projects	project	NOUN
cblr-13858	257	44	.	.	PUNCT
cblr-13858	258	1	"o	"o	PROPN
cblr-13858	258	2	others	other	NOUN
cblr-13858	258	3	are	be	AUX
cblr-13858	258	4	directed	direct	VERB
cblr-13858	258	5	at	at	ADP
cblr-13858	258	6	particular	particular	ADJ
cblr-13858	258	7	types	type	NOUN
cblr-13858	258	8	of	of	ADP
cblr-13858	258	9	entrepreneurs	entrepreneur	NOUN
cblr-13858	258	10	,	,	PUNCT
cblr-13858	258	11	such	such	ADJ
cblr-13858	258	12	as	as	ADP
cblr-13858	258	13	women	woman	NOUN
cblr-13858	258	14	"	"	PUNCT
cblr-13858	258	15	or	or	CCONJ
cblr-13858	258	16	the	the	DET
cblr-13858	258	17	poor.32	poor.32	PROPN
cblr-13858	258	18	many	many	ADJ
cblr-13858	258	19	crowdfunding	crowdfunding	NOUN
cblr-13858	258	20	sites	site	NOUN
cblr-13858	258	21	are	be	AUX
cblr-13858	258	22	open	open	ADJ
cblr-13858	258	23	to	to	ADP
cblr-13858	258	24	entrepreneurial	entrepreneurial	ADJ
cblr-13858	258	25	projects	project	NOUN
cblr-13858	258	26	generally	generally	ADV
cblr-13858	258	27	.	.	PUNCT
cblr-13858	258	28	"	"	PUNCT
cblr-13858	259	1	crowdfunding	crowdfunding	NOUN
cblr-13858	259	2	is	be	AUX
cblr-13858	259	3	not	not	PART
cblr-13858	259	4	just	just	ADV
cblr-13858	259	5	a	a	DET
cblr-13858	259	6	u.s	u.s	PROPN
cblr-13858	259	7	.	.	PROPN
cblr-13858	259	8	innovation	innovation	NOUN
cblr-13858	259	9	.	.	PUNCT
cblr-13858	260	1	there	there	PRON
cblr-13858	260	2	are	be	VERB
cblr-13858	260	3	crowdfunding	crowdfunde	VERB
cblr-13858	260	4	sites	site	NOUN
cblr-13858	260	5	serving	serve	VERB
cblr-13858	260	6	,	,	PUNCT
cblr-13858	260	7	among	among	ADP
cblr-13858	260	8	other	other	ADJ
cblr-13858	260	9	countries	country	NOUN
cblr-13858	260	10	and	and	CCONJ
cblr-13858	260	11	regions	region	NOUN
cblr-13858	260	12	,	,	PUNCT
cblr-13858	260	13	great	great	ADJ
cblr-13858	260	14	britain,34	britain,34	NOUN
cblr-13858	260	15	hong	hong	PROPN
cblr-13858	260	16	kong	kong	PROPN
cblr-13858	260	17	,	,	PUNCT
cblr-13858	260	18	brazil	brazil	PROPN
cblr-13858	260	19	,	,	PUNCT
cblr-13858	260	20	"	"	PUNCT
cblr-13858	260	21	germany,37	germany,37	PROPN
cblr-13858	260	22	27	27	NUM
cblr-13858	260	23	see	see	VERB
cblr-13858	260	24	heifer	heifer	NOUN
cblr-13858	260	25	international	international	ADJ
cblr-13858	260	26	,	,	PUNCT
cblr-13858	260	27	http://www.heifer.org/	http://www.heifer.org/	X
cblr-13858	260	28	(	(	PUNCT
cblr-13858	260	29	last	last	ADJ
cblr-13858	260	30	visited	visit	VERB
cblr-13858	260	31	mar	mar	PROPN
cblr-13858	260	32	.	.	PROPN
cblr-13858	260	33	5	5	NUM
cblr-13858	260	34	,	,	PUNCT
cblr-13858	260	35	2012	2012	NUM
cblr-13858	260	36	)	)	PUNCT
cblr-13858	260	37	.	.	PUNCT
cblr-13858	261	1	28	28	NUM
cblr-13858	261	2	see	see	VERB
cblr-13858	261	3	thomas	thomas	PROPN
cblr-13858	261	4	lin	lin	PROPN
cblr-13858	261	5	,	,	PUNCT
cblr-13858	261	6	scientists	scientist	NOUN
cblr-13858	261	7	turn	turn	VERB
cblr-13858	261	8	to	to	ADP
cblr-13858	261	9	crowds	crowd	NOUN
cblr-13858	261	10	on	on	ADP
cblr-13858	261	11	the	the	DET
cblr-13858	261	12	web	web	NOUN
cblr-13858	261	13	to	to	PART
cblr-13858	261	14	finance	finance	VERB
cblr-13858	261	15	their	their	PRON
cblr-13858	261	16	projects	project	NOUN
cblr-13858	261	17	,	,	PUNCT
cblr-13858	261	18	n.y	n.y	PROPN
cblr-13858	261	19	.	.	PROPN
cblr-13858	261	20	times	times	PROPN
cblr-13858	261	21	,	,	PUNCT
cblr-13858	261	22	july	july	PROPN
cblr-13858	261	23	11	11	NUM
cblr-13858	261	24	,	,	PUNCT
cblr-13858	261	25	2011	2011	NUM
cblr-13858	261	26	,	,	PUNCT
cblr-13858	261	27	at	at	ADP
cblr-13858	261	28	d3	d3	PROPN
cblr-13858	261	29	.	.	PUNCT
cblr-13858	262	1	29	29	NUM
cblr-13858	262	2	see	see	VERB
cblr-13858	262	3	learn	learn	VERB
cblr-13858	262	4	more	more	ADJ
cblr-13858	262	5	,	,	PUNCT
cblr-13858	262	6	rockethub	rockethub	NOUN
cblr-13858	262	7	,	,	PUNCT
cblr-13858	262	8	http://rockethub.com/1eammore/intro	http://rockethub.com/1eammore/intro	PROPN
cblr-13858	262	9	(	(	PUNCT
cblr-13858	262	10	last	last	ADV
cblr-13858	262	11	visited	visit	VERB
cblr-13858	262	12	mar	mar	PROPN
cblr-13858	262	13	.	.	PROPN
cblr-13858	262	14	5	5	NUM
cblr-13858	262	15	,	,	PUNCT
cblr-13858	262	16	2012	2012	NUM
cblr-13858	262	17	)	)	PUNCT
cblr-13858	262	18	(	(	PUNCT
cblr-13858	262	19	"	"	PUNCT
cblr-13858	262	20	creative	creative	ADJ
cblr-13858	262	21	products	product	NOUN
cblr-13858	262	22	and	and	CCONJ
cblr-13858	262	23	endeavors	endeavor	NOUN
cblr-13858	262	24	"	"	PUNCT
cblr-13858	262	25	)	)	PUNCT
cblr-13858	262	26	;	;	PUNCT
cblr-13858	262	27	frequently	frequently	ADV
cblr-13858	262	28	asked	ask	VERB
cblr-13858	262	29	questions	question	NOUN
cblr-13858	262	30	:	:	PUNCT
cblr-13858	262	31	kickstarter	kickstarter	NOUN
cblr-13858	262	32	basics	basic	NOUN
cblr-13858	262	33	,	,	PUNCT
cblr-13858	262	34	kickstarter	kickstarter	PROPN
cblr-13858	262	35	,	,	PUNCT
cblr-13858	262	36	http://www.kick	http://www.kick	NOUN
cblr-13858	262	37	starter.com/help/faq/kickstarter%20basics	starter.com/help/faq/kickstarter%20basic	NOUN
cblr-13858	262	38	(	(	PUNCT
cblr-13858	262	39	last	last	ADV
cblr-13858	262	40	visited	visit	VERB
cblr-13858	262	41	mar	mar	PROPN
cblr-13858	262	42	.	.	PROPN
cblr-13858	262	43	5	5	NUM
cblr-13858	262	44	,	,	PUNCT
cblr-13858	262	45	2012	2012	NUM
cblr-13858	262	46	)	)	PUNCT
cblr-13858	262	47	(	(	PUNCT
cblr-13858	262	48	"	"	PUNCT
cblr-13858	262	49	kickstarter	kickstarter	PROPN
cblr-13858	262	50	is	be	AUX
cblr-13858	262	51	focused	focus	VERB
cblr-13858	262	52	on	on	ADP
cblr-13858	262	53	creative	creative	ADJ
cblr-13858	262	54	projects	project	NOUN
cblr-13858	262	55	.	.	PUNCT
cblr-13858	263	1	we	we	PRON
cblr-13858	263	2	're	be	AUX
cblr-13858	263	3	a	a	DET
cblr-13858	263	4	great	great	ADJ
cblr-13858	263	5	way	way	NOUN
cblr-13858	263	6	for	for	SCONJ
cblr-13858	263	7	artists	artist	NOUN
cblr-13858	263	8	,	,	PUNCT
cblr-13858	263	9	filmmakers	filmmaker	NOUN
cblr-13858	263	10	,	,	PUNCT
cblr-13858	263	11	musicians	musician	NOUN
cblr-13858	263	12	,	,	PUNCT
cblr-13858	263	13	designers	designer	NOUN
cblr-13858	263	14	,	,	PUNCT
cblr-13858	263	15	writers	writer	NOUN
cblr-13858	263	16	,	,	PUNCT
cblr-13858	263	17	illustrators	illustrator	NOUN
cblr-13858	263	18	,	,	PUNCT
cblr-13858	263	19	explorers	explorer	NOUN
cblr-13858	263	20	,	,	PUNCT
cblr-13858	263	21	curators	curator	NOUN
cblr-13858	263	22	,	,	PUNCT
cblr-13858	263	23	performers	performer	NOUN
cblr-13858	263	24	,	,	PUNCT
cblr-13858	263	25	and	and	CCONJ
cblr-13858	263	26	others	other	NOUN
cblr-13858	263	27	to	to	PART
cblr-13858	263	28	bring	bring	VERB
cblr-13858	263	29	their	their	PRON
cblr-13858	263	30	projects	project	NOUN
cblr-13858	263	31	,	,	PUNCT
cblr-13858	263	32	events	event	NOUN
cblr-13858	263	33	,	,	PUNCT
cblr-13858	263	34	and	and	CCONJ
cblr-13858	263	35	dreams	dream	NOUN
cblr-13858	263	36	to	to	ADP
cblr-13858	263	37	life	life	NOUN
cblr-13858	263	38	.	.	PUNCT
cblr-13858	263	39	"	"	PUNCT
cblr-13858	263	40	)	)	PUNCT
cblr-13858	263	41	.	.	PUNCT
cblr-13858	264	1	31	31	NUM
cblr-13858	264	2	see	see	VERB
cblr-13858	264	3	the	the	DET
cblr-13858	264	4	hoop	hoop	NOUN
cblr-13858	264	5	fund	fund	NOUN
cblr-13858	264	6	,	,	PUNCT
cblr-13858	264	7	http://www.hoopfund.com/learn.webui	http://www.hoopfund.com/learn.webui	PROPN
cblr-13858	264	8	(	(	PUNCT
cblr-13858	264	9	last	last	ADJ
cblr-13858	264	10	visited	visit	VERB
cblr-13858	264	11	mar	mar	PROPN
cblr-13858	264	12	.	.	PROPN
cblr-13858	264	13	5	5	NUM
cblr-13858	264	14	,	,	PUNCT
cblr-13858	264	15	2012	2012	NUM
cblr-13858	264	16	)	)	PUNCT
cblr-13858	264	17	.	.	PUNCT
cblr-13858	264	18	'	'	PUNCT
cblr-13858	265	1	see	see	VERB
cblr-13858	265	2	inuka	inuka	NOUN
cblr-13858	265	3	,	,	PUNCT
cblr-13858	265	4	http://inuka.org/	http://inuka.org/	PROPN
cblr-13858	265	5	(	(	PUNCT
cblr-13858	265	6	last	last	ADV
cblr-13858	265	7	visited	visit	VERB
cblr-13858	265	8	mar	mar	PROPN
cblr-13858	265	9	.	.	PROPN
cblr-13858	265	10	5	5	NUM
cblr-13858	265	11	,	,	PUNCT
cblr-13858	265	12	2012	2012	NUM
cblr-13858	265	13	)	)	PUNCT
cblr-13858	265	14	.	.	PUNCT
cblr-13858	266	1	3	3	NUM
cblr-13858	266	2	see	see	VERB
cblr-13858	266	3	how	how	SCONJ
cblr-13858	266	4	microplace	microplace	NOUN
cblr-13858	266	5	works	work	NOUN
cblr-13858	266	6	,	,	PUNCT
cblr-13858	266	7	microplace	microplace	NOUN
cblr-13858	266	8	,	,	PUNCT
cblr-13858	266	9	https://www.microplace	https://www.microplace	PROPN
cblr-13858	266	10	.com	.com	PROPN
cblr-13858	266	11	/	/	SYM
cblr-13858	266	12	howitworks	howitworks	PROPN
cblr-13858	266	13	/	/	SYM
cblr-13858	266	14	what	what	PRON
cblr-13858	266	15	wedo	wedo	NOUN
cblr-13858	266	16	(	(	PUNCT
cblr-13858	266	17	last	last	ADV
cblr-13858	266	18	visited	visit	VERB
cblr-13858	266	19	mar	mar	PROPN
cblr-13858	266	20	.	.	PROPN
cblr-13858	266	21	5	5	NUM
cblr-13858	266	22	,	,	PUNCT
cblr-13858	266	23	2012	2012	NUM
cblr-13858	266	24	)	)	PUNCT
cblr-13858	266	25	;	;	PUNCT
cblr-13858	266	26	about	about	ADP
cblr-13858	266	27	us	we	PRON
cblr-13858	266	28	,	,	PUNCT
cblr-13858	266	29	kiva	kiva	PROPN
cblr-13858	266	30	,	,	PUNCT
cblr-13858	266	31	http://www.kiva.org/about	http://www.kiva.org/about	PROPN
cblr-13858	266	32	(	(	PUNCT
cblr-13858	266	33	last	last	ADV
cblr-13858	266	34	visited	visit	VERB
cblr-13858	266	35	mar	mar	PROPN
cblr-13858	266	36	.	.	PROPN
cblr-13858	266	37	5	5	NUM
cblr-13858	266	38	,	,	PUNCT
cblr-13858	266	39	2012	2012	NUM
cblr-13858	266	40	)	)	PUNCT
cblr-13858	266	41	.	.	PUNCT
cblr-13858	267	1	3	3	NUM
cblr-13858	267	2	see	see	VERB
cblr-13858	267	3	,	,	PUNCT
cblr-13858	267	4	e.g.	e.g.	ADV
cblr-13858	267	5	,	,	PUNCT
cblr-13858	267	6	profounder	profounder	NOUN
cblr-13858	267	7	,	,	PUNCT
cblr-13858	267	8	https://www.profounder.com	https://www.profounder.com	X
cblr-13858	267	9	(	(	PUNCT
cblr-13858	267	10	last	last	ADV
cblr-13858	267	11	visited	visit	VERB
cblr-13858	267	12	mar	mar	PROPN
cblr-13858	267	13	.	.	PROPN
cblr-13858	267	14	5	5	NUM
cblr-13858	267	15	,	,	PUNCT
cblr-13858	267	16	2012	2012	NUM
cblr-13858	267	17	)	)	PUNCT
cblr-13858	267	18	;	;	PUNCT
cblr-13858	267	19	grow	grow	VERB
cblr-13858	267	20	vc	vc	PROPN
cblr-13858	267	21	,	,	PUNCT
cblr-13858	267	22	http://www.growvc.com/main/	http://www.growvc.com/main/	X
cblr-13858	267	23	(	(	PUNCT
cblr-13858	267	24	last	last	ADV
cblr-13858	267	25	visited	visit	VERB
cblr-13858	267	26	mar	mar	PROPN
cblr-13858	267	27	.	.	PROPN
cblr-13858	267	28	5	5	NUM
cblr-13858	267	29	,	,	PUNCT
cblr-13858	267	30	2012	2012	NUM
cblr-13858	267	31	)	)	PUNCT
cblr-13858	267	32	;	;	PUNCT
cblr-13858	267	33	peerbackers	peerbacker	NOUN
cblr-13858	267	34	:	:	PUNCT
cblr-13858	267	35	crowdfunding	crowdfunde	VERB
cblr-13858	267	36	big	big	ADJ
cblr-13858	267	37	ideas	idea	NOUN
cblr-13858	267	38	,	,	PUNCT
cblr-13858	267	39	http://www.peerbackers	http://www.peerbacker	NOUN
cblr-13858	267	40	.	.	PUNCT
cblr-13858	268	1	com/	com/	NOUN
cblr-13858	268	2	(	(	PUNCT
cblr-13858	268	3	last	last	ADV
cblr-13858	268	4	visited	visit	VERB
cblr-13858	268	5	mar	mar	PROPN
cblr-13858	268	6	.	.	PROPN
cblr-13858	268	7	5	5	NUM
cblr-13858	268	8	,	,	PUNCT
cblr-13858	268	9	2012	2012	NUM
cblr-13858	268	10	)	)	PUNCT
cblr-13858	268	11	;	;	PUNCT
cblr-13858	268	12	indiegogo	indiegogo	NOUN
cblr-13858	268	13	,	,	PUNCT
cblr-13858	268	14	http://www.indiegogo.com/	http://www.indiegogo.com/	NOUN
cblr-13858	268	15	(	(	PUNCT
cblr-13858	268	16	last	last	ADV
cblr-13858	268	17	visited	visit	VERB
cblr-13858	268	18	mar	mar	PROPN
cblr-13858	268	19	.	.	PROPN
cblr-13858	268	20	5	5	NUM
cblr-13858	268	21	,	,	PUNCT
cblr-13858	268	22	2012	2012	NUM
cblr-13858	268	23	)	)	PUNCT
cblr-13858	268	24	;	;	PUNCT
cblr-13858	268	25	microventures	microventure	NOUN
cblr-13858	268	26	,	,	PUNCT
cblr-13858	268	27	http://www.microventures	http://www.microventure	NOUN
cblr-13858	268	28	.	.	PUNCT
cblr-13858	269	1	com/	com/	NOUN
cblr-13858	269	2	(	(	PUNCT
cblr-13858	269	3	last	last	ADV
cblr-13858	269	4	visited	visit	VERB
cblr-13858	269	5	mar	mar	PROPN
cblr-13858	269	6	.	.	PROPN
cblr-13858	269	7	5	5	NUM
cblr-13858	269	8	,	,	PUNCT
cblr-13858	269	9	2012	2012	NUM
cblr-13858	269	10	)	)	PUNCT
cblr-13858	269	11	.	.	PUNCT
cblr-13858	269	12	"	"	PUNCT
cblr-13858	269	13	see	see	VERB
cblr-13858	269	14	my	my	PRON
cblr-13858	269	15	major	major	ADJ
cblr-13858	269	16	company	company	NOUN
cblr-13858	269	17	,	,	PUNCT
cblr-13858	269	18	supra	supra	PROPN
cblr-13858	269	19	note	note	PROPN
cblr-13858	269	20	25	25	NUM
cblr-13858	269	21	;	;	PUNCT
cblr-13858	269	22	company	company	NOUN
cblr-13858	269	23	information	information	NOUN
cblr-13858	269	24	,	,	PUNCT
cblr-13858	269	25	unbound	unbound	NOUN
cblr-13858	269	26	,	,	PUNCT
cblr-13858	269	27	http://www.unbound.co.uk/company	http://www.unbound.co.uk/company	PROPN
cblr-13858	269	28	(	(	PUNCT
cblr-13858	269	29	last	last	ADV
cblr-13858	269	30	visited	visit	VERB
cblr-13858	269	31	mar	mar	PROPN
cblr-13858	269	32	.	.	PROPN
cblr-13858	269	33	5	5	NUM
cblr-13858	269	34	,	,	PUNCT
cblr-13858	269	35	2012	2012	NUM
cblr-13858	269	36	)	)	PUNCT
cblr-13858	269	37	.	.	PUNCT
cblr-13858	270	1	see	see	VERB
cblr-13858	270	2	generally	generally	ADV
cblr-13858	270	3	catherine	catherine	PROPN
cblr-13858	270	4	burns	burn	NOUN
cblr-13858	270	5	,	,	PUNCT
cblr-13858	270	6	small	small	ADJ
cblr-13858	270	7	firms	firm	NOUN
cblr-13858	270	8	seek	seek	VERB
cblr-13858	270	9	crowd	crowd	NOUN
cblr-13858	270	10	funding	funding	NOUN
cblr-13858	270	11	,	,	PUNCT
cblr-13858	270	12	bbc	bbc	PROPN
cblr-13858	270	13	(	(	PUNCT
cblr-13858	270	14	may	may	PROPN
cblr-13858	270	15	26	26	NUM
cblr-13858	270	16	,	,	PUNCT
cblr-13858	270	17	2011	2011	NUM
cblr-13858	270	18	)	)	PUNCT
cblr-13858	270	19	,	,	PUNCT
cblr-13858	270	20	http://www.bbc.co.uk/news/business-13569912	http://www.bbc.co.uk/news/business-13569912	PROPN
cblr-13858	270	21	.	.	PUNCT
cblr-13858	271	1	*	*	PUNCT
cblr-13858	271	2	see	see	VERB
cblr-13858	271	3	about	about	ADP
cblr-13858	271	4	,	,	PUNCT
cblr-13858	271	5	grow	grow	VERB
cblr-13858	271	6	vc	vc	PROPN
cblr-13858	271	7	,	,	PUNCT
cblr-13858	271	8	http://www.growvc.conmain/about/	http://www.growvc.conmain/about/	PRON
cblr-13858	271	9	(	(	PUNCT
cblr-13858	271	10	last	last	ADJ
cblr-13858	271	11	visited	visit	VERB
cblr-13858	271	12	mar	mar	PROPN
cblr-13858	271	13	.	.	PROPN
cblr-13858	271	14	5	5	NUM
cblr-13858	271	15	,	,	PUNCT
cblr-13858	271	16	2012	2012	NUM
cblr-13858	271	17	)	)	PUNCT
cblr-13858	271	18	.	.	PUNCT
cblr-13858	272	1	"	"	PUNCT
cblr-13858	272	2	see	see	VERB
cblr-13858	272	3	janet	janet	PROPN
cblr-13858	272	4	gunter	gunter	PROPN
cblr-13858	272	5	,	,	PUNCT
cblr-13858	272	6	brazil	brazil	PROPN
cblr-13858	272	7	:	:	PUNCT
cblr-13858	272	8	crowdfunding	crowdfunde	VERB
cblr-13858	272	9	potential	potential	NOUN
cblr-13858	272	10	,	,	PUNCT
cblr-13858	272	11	global	global	ADJ
cblr-13858	272	12	voices	voice	NOUN
cblr-13858	272	13	:	:	PUNCT
cblr-13858	272	14	english	english	PROPN
cblr-13858	272	15	(	(	PUNCT
cblr-13858	272	16	may	may	PROPN
cblr-13858	272	17	24	24	NUM
cblr-13858	272	18	,	,	PUNCT
cblr-13858	272	19	2011	2011	NUM
cblr-13858	272	20	,	,	PUNCT
cblr-13858	272	21	1:15	1:15	NUM
cblr-13858	272	22	pm	pm	NOUN
cblr-13858	272	23	)	)	PUNCT
cblr-13858	272	24	,	,	PUNCT
cblr-13858	272	25	http://globalvoicesonline.org/2011/05/24	http://globalvoicesonline.org/2011/05/24	NOUN
cblr-13858	272	26	/brazil	/brazil	NOUN
cblr-13858	272	27	-	-	PUNCT
cblr-13858	272	28	crowdfunding	crowdfunde	VERB
cblr-13858	272	29	-	-	PUNCT
cblr-13858	272	30	potential/.	potential/.	PROPN
cblr-13858	272	31	no	no	NOUN
cblr-13858	272	32	.	.	PUNCT
cblr-13858	273	1	i:1	i:1	PROPN
cblr-13858	273	2	]	]	PUNCT
cblr-13858	273	3	13	13	NUM
cblr-13858	273	4	the	the	DET
cblr-13858	273	5	netherlands	netherlands	PROPN
cblr-13858	273	6	,	,	PUNCT
cblr-13858	273	7	"	"	PUNCT
cblr-13858	273	8	and	and	CCONJ
cblr-13858	273	9	sub	sub	ADJ
cblr-13858	273	10	-	-	ADJ
cblr-13858	273	11	saharan	saharan	ADJ
cblr-13858	273	12	africa	africa	PROPN
cblr-13858	273	13	.	.	PUNCT
cblr-13858	273	14	"	"	PUNCT
cblr-13858	274	1	some	some	DET
cblr-13858	274	2	sites	site	NOUN
cblr-13858	274	3	claim	claim	VERB
cblr-13858	274	4	to	to	PART
cblr-13858	274	5	be	be	AUX
cblr-13858	274	6	global	global	ADJ
cblr-13858	274	7	,	,	PUNCT
cblr-13858	274	8	open	open	ADJ
cblr-13858	274	9	to	to	ADP
cblr-13858	274	10	investors	investor	NOUN
cblr-13858	274	11	and	and	CCONJ
cblr-13858	274	12	entrepreneurs	entrepreneur	NOUN
cblr-13858	274	13	everywhere.4	everywhere.4	PROPN
cblr-13858	274	14	0	0	PROPN
cblr-13858	274	15	not	not	PART
cblr-13858	274	16	surprisingly	surprisingly	ADV
cblr-13858	274	17	,	,	PUNCT
cblr-13858	274	18	given	give	VERB
cblr-13858	274	19	the	the	DET
cblr-13858	274	20	international	international	ADJ
cblr-13858	274	21	reach	reach	NOUN
cblr-13858	274	22	of	of	ADP
cblr-13858	274	23	the	the	DET
cblr-13858	274	24	internet	internet	NOUN
cblr-13858	274	25	,	,	PUNCT
cblr-13858	274	26	some	some	PRON
cblr-13858	274	27	of	of	ADP
cblr-13858	274	28	those	those	DET
cblr-13858	274	29	foreign	foreign	ADJ
cblr-13858	274	30	sites	site	NOUN
cblr-13858	274	31	also	also	ADV
cblr-13858	274	32	sell	sell	VERB
cblr-13858	274	33	to	to	ADP
cblr-13858	274	34	u.s	u.s	PROPN
cblr-13858	274	35	.	.	PROPN
cblr-13858	274	36	investors	investor	NOUN
cblr-13858	274	37	,	,	PUNCT
cblr-13858	274	38	"	"	PUNCT
cblr-13858	274	39	and	and	CCONJ
cblr-13858	274	40	some	some	PRON
cblr-13858	274	41	of	of	ADP
cblr-13858	274	42	the	the	DET
cblr-13858	274	43	investments	investment	NOUN
cblr-13858	274	44	they	they	PRON
cblr-13858	274	45	sell	sell	VERB
cblr-13858	274	46	would	would	AUX
cblr-13858	274	47	almost	almost	ADV
cblr-13858	274	48	certainly	certainly	ADV
cblr-13858	274	49	qualify	qualify	VERB
cblr-13858	274	50	as	as	ADP
cblr-13858	274	51	securities	security	NOUN
cblr-13858	274	52	under	under	ADP
cblr-13858	274	53	u.s	u.s	PROPN
cblr-13858	274	54	.	.	PROPN
cblr-13858	274	55	law	law	NOUN
cblr-13858	274	56	.	.	PUNCT
cblr-13858	275	1	that	that	PRON
cblr-13858	275	2	raises	raise	VERB
cblr-13858	275	3	a	a	DET
cblr-13858	275	4	host	host	NOUN
cblr-13858	275	5	of	of	ADP
cblr-13858	275	6	jurisdictional	jurisdictional	ADJ
cblr-13858	275	7	issues,42	issues,42	NOUN
cblr-13858	275	8	but	but	CCONJ
cblr-13858	275	9	this	this	DET
cblr-13858	275	10	article	article	NOUN
cblr-13858	275	11	focuses	focus	VERB
cblr-13858	275	12	on	on	ADP
cblr-13858	275	13	the	the	DET
cblr-13858	275	14	issues	issue	NOUN
cblr-13858	275	15	posed	pose	VERB
cblr-13858	275	16	by	by	ADP
cblr-13858	275	17	domestic	domestic	ADJ
cblr-13858	275	18	crowdfunding	crowdfunding	NOUN
cblr-13858	275	19	sites	site	NOUN
cblr-13858	275	20	-	-	PUNCT
cblr-13858	275	21	web	web	NOUN
cblr-13858	275	22	sites	site	NOUN
cblr-13858	275	23	operated	operate	VERB
cblr-13858	275	24	by	by	ADP
cblr-13858	275	25	u.s	u.s	PROPN
cblr-13858	275	26	.	.	PROPN
cblr-13858	275	27	companies	company	NOUN
cblr-13858	275	28	that	that	PRON
cblr-13858	275	29	bring	bring	VERB
cblr-13858	275	30	together	together	ADV
cblr-13858	275	31	u.s	u.s	PROPN
cblr-13858	275	32	.	.	PROPN
cblr-13858	275	33	entrepreneurs	entrepreneur	NOUN
cblr-13858	275	34	and	and	CCONJ
cblr-13858	275	35	u.s	u.s	PROPN
cblr-13858	275	36	.	.	PROPN
cblr-13858	275	37	investors	investor	NOUN
cblr-13858	275	38	.	.	PUNCT
cblr-13858	276	1	b.	b.	PROPN
cblr-13858	276	2	types	type	NOUN
cblr-13858	276	3	of	of	ADP
cblr-13858	276	4	crowdfunding	crowdfunde	VERB
cblr-13858	276	5	one	one	NUM
cblr-13858	276	6	can	can	AUX
cblr-13858	276	7	categorize	categorize	VERB
cblr-13858	276	8	crowdfunding	crowdfunde	VERB
cblr-13858	276	9	into	into	ADP
cblr-13858	276	10	five	five	NUM
cblr-13858	276	11	types	type	NOUN
cblr-13858	276	12	,	,	PUNCT
cblr-13858	276	13	distinguished	distinguish	VERB
cblr-13858	276	14	by	by	ADP
cblr-13858	276	15	what	what	PRON
cblr-13858	276	16	investors	investor	NOUN
cblr-13858	276	17	are	be	AUX
cblr-13858	276	18	promised	promise	VERB
cblr-13858	276	19	in	in	ADP
cblr-13858	276	20	return	return	NOUN
cblr-13858	276	21	for	for	ADP
cblr-13858	276	22	their	their	PRON
cblr-13858	276	23	contributions	contribution	NOUN
cblr-13858	276	24	:	:	PUNCT
cblr-13858	276	25	(	(	PUNCT
cblr-13858	276	26	1	1	X
cblr-13858	276	27	)	)	PUNCT
cblr-13858	276	28	the	the	DET
cblr-13858	276	29	donation	donation	NOUN
cblr-13858	276	30	model	model	NOUN
cblr-13858	276	31	;	;	PUNCT
cblr-13858	276	32	(	(	PUNCT
cblr-13858	276	33	2	2	X
cblr-13858	276	34	)	)	PUNCT
cblr-13858	276	35	the	the	DET
cblr-13858	276	36	reward	reward	NOUN
cblr-13858	276	37	model	model	NOUN
cblr-13858	276	38	;	;	PUNCT
cblr-13858	276	39	(	(	PUNCT
cblr-13858	276	40	3	3	X
cblr-13858	276	41	)	)	PUNCT
cblr-13858	276	42	the	the	DET
cblr-13858	276	43	pre	pre	ADJ
cblr-13858	276	44	-	-	ADJ
cblr-13858	276	45	purchase	purchase	ADJ
cblr-13858	276	46	model	model	NOUN
cblr-13858	276	47	;	;	PUNCT
cblr-13858	276	48	(	(	PUNCT
cblr-13858	276	49	4	4	X
cblr-13858	276	50	)	)	PUNCT
cblr-13858	276	51	the	the	DET
cblr-13858	276	52	lending	lending	NOUN
cblr-13858	276	53	model	model	NOUN
cblr-13858	276	54	;	;	PUNCT
cblr-13858	276	55	"	"	PUNCT
cblr-13858	276	56	see	see	VERB
cblr-13858	276	57	generally	generally	ADV
cblr-13858	276	58	karsten	karsten	PROPN
cblr-13858	276	59	wenzlaff	wenzlaff	PROPN
cblr-13858	276	60	,	,	PUNCT
cblr-13858	276	61	crowdfunding	crowdfunding	NOUN
cblr-13858	276	62	is	be	AUX
cblr-13858	276	63	on	on	ADP
cblr-13858	276	64	the	the	DET
cblr-13858	276	65	rise	rise	NOUN
cblr-13858	276	66	in	in	ADP
cblr-13858	276	67	germany	germany	PROPN
cblr-13858	276	68	,	,	PUNCT
cblr-13858	276	69	crowdsourcing.org	crowdsourcing.org	X
cblr-13858	276	70	(	(	PUNCT
cblr-13858	276	71	june	june	PROPN
cblr-13858	276	72	27	27	NUM
cblr-13858	276	73	,	,	PUNCT
cblr-13858	276	74	2011	2011	NUM
cblr-13858	276	75	,	,	PUNCT
cblr-13858	276	76	9:47	9:47	NUM
cblr-13858	276	77	am	am	NOUN
cblr-13858	276	78	)	)	PUNCT
cblr-13858	276	79	,	,	PUNCT
cblr-13858	276	80	http://www	http://www	PROPN
cblr-13858	276	81	.	.	PUNCT
cblr-13858	277	1	crowdsourcing.org/editorial/crowdfunding-is-on-the-rise-in-germany/4962	crowdsourcing.org/editorial/crowdfunding-is-on-the-rise-in-germany/4962	PROPN
cblr-13858	277	2	.	.	PUNCT
cblr-13858	277	3	"	"	PUNCT
cblr-13858	277	4	see	see	VERB
cblr-13858	277	5	symbid	symbid	NOUN
cblr-13858	277	6	,	,	PUNCT
cblr-13858	277	7	http://www.symbid.com/	http://www.symbid.com/	PROPN
cblr-13858	277	8	(	(	PUNCT
cblr-13858	277	9	last	last	ADV
cblr-13858	277	10	visited	visit	VERB
cblr-13858	277	11	mar	mar	PROPN
cblr-13858	277	12	.	.	PROPN
cblr-13858	277	13	5	5	NUM
cblr-13858	277	14	,	,	PUNCT
cblr-13858	277	15	2012	2012	NUM
cblr-13858	277	16	)	)	PUNCT
cblr-13858	277	17	;	;	PUNCT
cblr-13858	277	18	about	about	ADP
cblr-13858	277	19	us	we	PRON
cblr-13858	277	20	,	,	PUNCT
cblr-13858	277	21	sellaband	sellaband	ADJ
cblr-13858	277	22	,	,	PUNCT
cblr-13858	277	23	https://www.sellaband.com/en/pages/aboutus	https://www.sellaband.com/en/pages/aboutus	X
cblr-13858	277	24	(	(	PUNCT
cblr-13858	277	25	last	last	ADV
cblr-13858	277	26	visited	visit	VERB
cblr-13858	277	27	mar	mar	PROPN
cblr-13858	277	28	.	.	PROPN
cblr-13858	277	29	5	5	NUM
cblr-13858	277	30	,	,	PUNCT
cblr-13858	277	31	2012	2012	NUM
cblr-13858	277	32	)	)	PUNCT
cblr-13858	277	33	.	.	PUNCT
cblr-13858	278	1	"	"	PUNCT
cblr-13858	278	2	see	see	VERB
cblr-13858	278	3	introducing	introduce	VERB
cblr-13858	278	4	inuka	inuka	NOUN
cblr-13858	278	5	,	,	PUNCT
cblr-13858	278	6	inuka	inuka	NOUN
cblr-13858	278	7	,	,	PUNCT
cblr-13858	278	8	http://inuka.org/	http://inuka.org/	PROPN
cblr-13858	278	9	(	(	PUNCT
cblr-13858	278	10	last	last	ADV
cblr-13858	278	11	visited	visit	VERB
cblr-13858	278	12	mar	mar	PROPN
cblr-13858	278	13	.	.	PROPN
cblr-13858	278	14	5	5	NUM
cblr-13858	278	15	,	,	PUNCT
cblr-13858	278	16	2012	2012	NUM
cblr-13858	278	17	)	)	PUNCT
cblr-13858	278	18	.	.	PUNCT
cblr-13858	279	1	4	4	NUM
cblr-13858	279	2	see	see	VERB
cblr-13858	279	3	,	,	PUNCT
cblr-13858	279	4	e.g.	e.g.	ADV
cblr-13858	279	5	,	,	PUNCT
cblr-13858	279	6	about	about	ADV
cblr-13858	279	7	,	,	PUNCT
cblr-13858	279	8	grow	grow	VERB
cblr-13858	279	9	vc	vc	PROPN
cblr-13858	279	10	,	,	PUNCT
cblr-13858	279	11	supra	supra	PROPN
cblr-13858	279	12	note	note	PROPN
cblr-13858	279	13	35	35	NUM
cblr-13858	279	14	(	(	PUNCT
cblr-13858	279	15	"	"	PUNCT
cblr-13858	279	16	grow	grow	VERB
cblr-13858	279	17	venture	venture	NOUN
cblr-13858	279	18	community	community	NOUN
cblr-13858	279	19	(	(	PUNCT
cblr-13858	279	20	grow	grow	VERB
cblr-13858	279	21	vc	vc	PROPN
cblr-13858	279	22	)	)	PUNCT
cblr-13858	279	23	is	be	AUX
cblr-13858	279	24	the	the	DET
cblr-13858	279	25	first	first	ADJ
cblr-13858	279	26	global	global	ADJ
cblr-13858	279	27	,	,	PUNCT
cblr-13858	279	28	transparent	transparent	ADJ
cblr-13858	279	29	,	,	PUNCT
cblr-13858	279	30	community	community	NOUN
cblr-13858	279	31	-	-	PUNCT
cblr-13858	279	32	based	base	VERB
cblr-13858	279	33	platform	platform	NOUN
cblr-13858	279	34	dedicated	dedicate	VERB
cblr-13858	279	35	to	to	ADP
cblr-13858	279	36	entrepreneurs	entrepreneur	NOUN
cblr-13858	279	37	and	and	CCONJ
cblr-13858	279	38	their	their	PRON
cblr-13858	279	39	needs	need	NOUN
cblr-13858	279	40	.	.	PUNCT
cblr-13858	279	41	.	.	PUNCT
cblr-13858	279	42	.	.	PUNCT
cblr-13858	279	43	.	.	PUNCT
cblr-13858	280	1	we	we	PRON
cblr-13858	280	2	are	be	AUX
cblr-13858	280	3	located	locate	VERB
cblr-13858	280	4	all	all	ADV
cblr-13858	280	5	over	over	ADP
cblr-13858	280	6	the	the	DET
cblr-13858	280	7	world	world	NOUN
cblr-13858	280	8	and	and	CCONJ
cblr-13858	280	9	growing	grow	VERB
cblr-13858	280	10	constantly	constantly	ADV
cblr-13858	280	11	.	.	PUNCT
cblr-13858	281	1	we	we	PRON
cblr-13858	281	2	wish	wish	VERB
cblr-13858	281	3	to	to	PART
cblr-13858	281	4	establish	establish	VERB
cblr-13858	281	5	a	a	DET
cblr-13858	281	6	presence	presence	NOUN
cblr-13858	281	7	in	in	ADP
cblr-13858	281	8	all	all	DET
cblr-13858	281	9	the	the	DET
cblr-13858	281	10	most	most	ADV
cblr-13858	281	11	entrepreneurial	entrepreneurial	ADJ
cblr-13858	281	12	countries	country	NOUN
cblr-13858	281	13	on	on	ADP
cblr-13858	281	14	the	the	DET
cblr-13858	281	15	planet	planet	NOUN
cblr-13858	281	16	.	.	PUNCT
cblr-13858	281	17	"	"	PUNCT
cblr-13858	281	18	)	)	PUNCT
cblr-13858	281	19	;	;	PUNCT
cblr-13858	281	20	about	about	ADP
cblr-13858	281	21	us	we	PRON
cblr-13858	281	22	,	,	PUNCT
cblr-13858	281	23	kiva	kiva	PROPN
cblr-13858	281	24	,	,	PUNCT
cblr-13858	281	25	supra	supra	PROPN
cblr-13858	281	26	note	note	PROPN
cblr-13858	281	27	32	32	NUM
cblr-13858	281	28	(	(	PUNCT
cblr-13858	281	29	"	"	PUNCT
cblr-13858	281	30	kiva	kiva	X
cblr-13858	281	31	works	work	VERB
cblr-13858	281	32	with	with	ADP
cblr-13858	281	33	microfinance	microfinance	NOUN
cblr-13858	281	34	institutions	institution	NOUN
cblr-13858	281	35	on	on	ADP
cblr-13858	281	36	five	five	NUM
cblr-13858	281	37	continents	continent	NOUN
cblr-13858	281	38	.	.	PUNCT
cblr-13858	281	39	"	"	PUNCT
cblr-13858	281	40	)	)	PUNCT
cblr-13858	281	41	.	.	PUNCT
cblr-13858	282	1	"	"	PUNCT
cblr-13858	282	2	for	for	ADP
cblr-13858	282	3	instance	instance	NOUN
cblr-13858	282	4	,	,	PUNCT
cblr-13858	282	5	an	an	DET
cblr-13858	282	6	in	in	ADP
cblr-13858	282	7	-	-	PUNCT
cblr-13858	282	8	depth	depth	NOUN
cblr-13858	282	9	study	study	NOUN
cblr-13858	282	10	of	of	ADP
cblr-13858	282	11	sellaband	sellaband	PROPN
cblr-13858	282	12	found	find	VERB
cblr-13858	282	13	that	that	SCONJ
cblr-13858	282	14	its	its	PRON
cblr-13858	282	15	investors	investor	NOUN
cblr-13858	282	16	were	be	AUX
cblr-13858	282	17	concentrated	concentrate	VERB
cblr-13858	282	18	in	in	ADP
cblr-13858	282	19	europe	europe	PROPN
cblr-13858	282	20	and	and	CCONJ
cblr-13858	282	21	the	the	DET
cblr-13858	282	22	eastern	eastern	ADJ
cblr-13858	282	23	united	united	PROPN
cblr-13858	282	24	states	states	PROPN
cblr-13858	282	25	.	.	PUNCT
cblr-13858	283	1	ajay	ajay	PROPN
cblr-13858	283	2	agrawal	agrawal	PROPN
cblr-13858	283	3	,	,	PUNCT
cblr-13858	283	4	christian	christian	PROPN
cblr-13858	283	5	catalini	catalini	PROPN
cblr-13858	283	6	&	&	CCONJ
cblr-13858	283	7	avid	avid	PROPN
cblr-13858	283	8	goldfarb	goldfarb	PROPN
cblr-13858	283	9	,	,	PUNCT
cblr-13858	283	10	the	the	DET
cblr-13858	283	11	geography	geography	NOUN
cblr-13858	283	12	of	of	ADP
cblr-13858	283	13	crowdfunding	crowdfunde	VERB
cblr-13858	283	14	8	8	NUM
cblr-13858	283	15	(	(	PUNCT
cblr-13858	283	16	net	net	ADJ
cblr-13858	283	17	institution	institution	NOUN
cblr-13858	283	18	,	,	PUNCT
cblr-13858	283	19	working	working	NOUN
cblr-13858	283	20	paper	paper	NOUN
cblr-13858	283	21	no	no	INTJ
cblr-13858	283	22	.	.	PROPN
cblr-13858	284	1	10	10	NUM
cblr-13858	284	2	-	-	SYM
cblr-13858	284	3	08	08	NUM
cblr-13858	284	4	,	,	PUNCT
cblr-13858	284	5	2010	2010	NUM
cblr-13858	284	6	)	)	PUNCT
cblr-13858	284	7	,	,	PUNCT
cblr-13858	284	8	available	available	ADJ
cblr-13858	284	9	at	at	ADP
cblr-13858	284	10	http://ssrn.com/abstract=1692661	http://ssrn.com/abstract=1692661	NOUN
cblr-13858	284	11	.	.	PUNCT
cblr-13858	285	1	42	42	NUM
cblr-13858	285	2	see	see	VERB
cblr-13858	285	3	generally	generally	ADV
cblr-13858	285	4	6	6	NUM
cblr-13858	285	5	thomas	thomas	PROPN
cblr-13858	285	6	lee	lee	PROPN
cblr-13858	285	7	hazen	hazen	PROPN
cblr-13858	285	8	,	,	PUNCT
cblr-13858	285	9	treatise	treatise	NOUN
cblr-13858	285	10	on	on	ADP
cblr-13858	285	11	the	the	DET
cblr-13858	285	12	law	law	NOUN
cblr-13858	285	13	of	of	ADP
cblr-13858	285	14	securities	security	NOUN
cblr-13858	285	15	regulation	regulation	NOUN
cblr-13858	285	16	403	403	NUM
cblr-13858	285	17	-	-	SYM
cblr-13858	285	18	21	21	NUM
cblr-13858	285	19	(	(	PUNCT
cblr-13858	285	20	6th	6th	ADJ
cblr-13858	285	21	ed	ed	NOUN
cblr-13858	285	22	.	.	PROPN
cblr-13858	285	23	2009	2009	NUM
cblr-13858	285	24	)	)	PUNCT
cblr-13858	285	25	.	.	PUNCT
cblr-13858	286	1	the	the	DET
cblr-13858	286	2	answers	answer	NOUN
cblr-13858	286	3	to	to	ADP
cblr-13858	286	4	these	these	DET
cblr-13858	286	5	questions	question	NOUN
cblr-13858	286	6	are	be	AUX
cblr-13858	286	7	complicated	complicate	VERB
cblr-13858	286	8	by	by	ADP
cblr-13858	286	9	the	the	DET
cblr-13858	286	10	supreme	supreme	PROPN
cblr-13858	286	11	court	court	PROPN
cblr-13858	286	12	's	's	PART
cblr-13858	286	13	recent	recent	ADJ
cblr-13858	286	14	decision	decision	NOUN
cblr-13858	286	15	in	in	ADP
cblr-13858	286	16	morrison	morrison	PROPN
cblr-13858	286	17	v.	v.	ADP
cblr-13858	286	18	national	national	PROPN
cblr-13858	286	19	australian	australian	PROPN
cblr-13858	286	20	bank	bank	PROPN
cblr-13858	286	21	ltd	ltd	PROPN
cblr-13858	286	22	.	.	PROPN
cblr-13858	286	23	,	,	PUNCT
cblr-13858	286	24	130	130	NUM
cblr-13858	286	25	s.	s.	PROPN
cblr-13858	286	26	ct	ct	PROPN
cblr-13858	286	27	.	.	PROPN
cblr-13858	286	28	2869	2869	NUM
cblr-13858	286	29	(	(	PUNCT
cblr-13858	286	30	2010	2010	NUM
cblr-13858	286	31	)	)	PUNCT
cblr-13858	286	32	.	.	PUNCT
cblr-13858	287	1	[	[	X
cblr-13858	287	2	vol	vol	NOUN
cblr-13858	287	3	.	.	PUNCT
cblr-13858	287	4	201214	201214	NUM
cblr-13858	287	5	col	col	PROPN
cblr-13858	287	6	umbia	umbia	PROPN
cblr-13858	287	7	b	b	PROPN
cblr-13858	287	8	usiness	usiness	PROPN
cblr-13858	287	9	la	la	PROPN
cblr-13858	287	10	w	w	PROPN
cblr-13858	287	11	re	re	PROPN
cblr-13858	287	12	vie	vie	PROPN
cblr-13858	287	13	w	w	PROPN
cblr-13858	287	14	and	and	CCONJ
cblr-13858	287	15	(	(	PUNCT
cblr-13858	287	16	5	5	X
cblr-13858	287	17	)	)	PUNCT
cblr-13858	287	18	the	the	DET
cblr-13858	287	19	equity	equity	NOUN
cblr-13858	287	20	model	model	NOUN
cblr-13858	287	21	.	.	PUNCT
cblr-13858	288	1	some	some	DET
cblr-13858	288	2	crowdfunding	crowdfunde	VERB
cblr-13858	288	3	sites	site	NOUN
cblr-13858	288	4	encompass	encompass	VERB
cblr-13858	288	5	more	more	ADJ
cblr-13858	288	6	than	than	ADP
cblr-13858	288	7	one	one	NUM
cblr-13858	288	8	model	model	NOUN
cblr-13858	288	9	;	;	PUNCT
cblr-13858	288	10	it	it	PRON
cblr-13858	288	11	is	be	AUX
cblr-13858	288	12	especially	especially	ADV
cblr-13858	288	13	common	common	ADJ
cblr-13858	288	14	to	to	PART
cblr-13858	288	15	see	see	VERB
cblr-13858	288	16	the	the	DET
cblr-13858	288	17	reward	reward	NOUN
cblr-13858	288	18	and	and	CCONJ
cblr-13858	288	19	pre	pre	ADJ
cblr-13858	288	20	-	-	ADJ
cblr-13858	288	21	purchase	purchase	NOUN
cblr-13858	288	22	models	model	NOUN
cblr-13858	288	23	on	on	ADP
cblr-13858	288	24	a	a	DET
cblr-13858	288	25	single	single	ADJ
cblr-13858	288	26	web	web	NOUN
cblr-13858	288	27	site	site	NOUN
cblr-13858	288	28	.	.	PUNCT
cblr-13858	289	1	other	other	ADJ
cblr-13858	289	2	sites	site	NOUN
cblr-13858	289	3	rely	rely	VERB
cblr-13858	289	4	on	on	ADP
cblr-13858	289	5	only	only	ADV
cblr-13858	289	6	a	a	DET
cblr-13858	289	7	single	single	ADJ
cblr-13858	289	8	model	model	NOUN
cblr-13858	289	9	.	.	PUNCT
cblr-13858	290	1	1	1	X
cblr-13858	290	2	.	.	X
cblr-13858	290	3	donation	donation	NOUN
cblr-13858	290	4	sites	site	NOUN
cblr-13858	290	5	the	the	DET
cblr-13858	290	6	contributions	contribution	NOUN
cblr-13858	290	7	on	on	ADP
cblr-13858	290	8	donation	donation	NOUN
cblr-13858	290	9	sites	site	NOUN
cblr-13858	290	10	are	be	AUX
cblr-13858	290	11	,	,	PUNCT
cblr-13858	290	12	as	as	SCONJ
cblr-13858	290	13	the	the	DET
cblr-13858	290	14	name	name	NOUN
cblr-13858	290	15	would	would	AUX
cblr-13858	290	16	indicate	indicate	VERB
cblr-13858	290	17	,	,	PUNCT
cblr-13858	290	18	donations	donation	NOUN
cblr-13858	290	19	.	.	PUNCT
cblr-13858	291	1	investors	investor	NOUN
cblr-13858	291	2	receive	receive	VERB
cblr-13858	291	3	nothing	nothing	PRON
cblr-13858	291	4	in	in	ADP
cblr-13858	291	5	return	return	NOUN
cblr-13858	291	6	for	for	ADP
cblr-13858	291	7	their	their	PRON
cblr-13858	291	8	contributions	contribution	NOUN
cblr-13858	291	9	-	-	PUNCT
cblr-13858	291	10	not	not	PART
cblr-13858	291	11	even	even	ADV
cblr-13858	291	12	the	the	DET
cblr-13858	291	13	eventual	eventual	ADJ
cblr-13858	291	14	return	return	NOUN
cblr-13858	291	15	of	of	ADP
cblr-13858	291	16	the	the	DET
cblr-13858	291	17	amounts	amount	NOUN
cblr-13858	291	18	they	they	PRON
cblr-13858	291	19	contributed	contribute	VERB
cblr-13858	291	20	.	.	PUNCT
cblr-13858	292	1	however	however	ADV
cblr-13858	292	2	,	,	PUNCT
cblr-13858	292	3	although	although	SCONJ
cblr-13858	292	4	the	the	DET
cblr-13858	292	5	contributor	contributor	NOUN
cblr-13858	292	6	's	's	PART
cblr-13858	292	7	motive	motive	NOUN
cblr-13858	292	8	is	be	AUX
cblr-13858	292	9	charitable	charitable	ADJ
cblr-13858	292	10	,	,	PUNCT
cblr-13858	292	11	the	the	DET
cblr-13858	292	12	recipient	recipient	NOUN
cblr-13858	292	13	's	's	PART
cblr-13858	292	14	motive	motive	NOUN
cblr-13858	292	15	need	need	AUX
cblr-13858	292	16	not	not	PART
cblr-13858	292	17	be	be	AUX
cblr-13858	292	18	.	.	PUNCT
cblr-13858	293	1	donations	donation	NOUN
cblr-13858	293	2	may	may	AUX
cblr-13858	293	3	fund	fund	VERB
cblr-13858	293	4	for	for	ADP
cblr-13858	293	5	-	-	PUNCT
cblr-13858	293	6	profit	profit	NOUN
cblr-13858	293	7	enterprises	enterprise	NOUN
cblr-13858	293	8	.	.	PUNCT
cblr-13858	294	1	pure	pure	ADJ
cblr-13858	294	2	donation	donation	NOUN
cblr-13858	294	3	sites	site	NOUN
cblr-13858	294	4	are	be	AUX
cblr-13858	294	5	rare	rare	ADJ
cblr-13858	294	6	,	,	PUNCT
cblr-13858	294	7	and	and	CCONJ
cblr-13858	294	8	those	those	PRON
cblr-13858	294	9	that	that	PRON
cblr-13858	294	10	exist	exist	VERB
cblr-13858	294	11	focus	focus	NOUN
cblr-13858	294	12	on	on	ADP
cblr-13858	294	13	requests	request	NOUN
cblr-13858	294	14	by	by	ADP
cblr-13858	294	15	charities	charity	NOUN
cblr-13858	294	16	and	and	CCONJ
cblr-13858	294	17	other	other	ADJ
cblr-13858	294	18	non	non	ADJ
cblr-13858	294	19	-	-	ADJ
cblr-13858	294	20	profit	profit	ADJ
cblr-13858	294	21	institutions	institution	NOUN
cblr-13858	294	22	,	,	PUNCT
cblr-13858	294	23	rather	rather	ADV
cblr-13858	294	24	than	than	ADP
cblr-13858	294	25	requests	request	NOUN
cblr-13858	294	26	by	by	ADP
cblr-13858	294	27	businesses	business	NOUN
cblr-13858	294	28	.	.	PUNCT
cblr-13858	294	29	"	"	PUNCT
cblr-13858	295	1	some	some	PRON
cblr-13858	295	2	of	of	ADP
cblr-13858	295	3	the	the	DET
cblr-13858	295	4	reward	reward	NOUN
cblr-13858	295	5	and	and	CCONJ
cblr-13858	295	6	pre	pre	ADJ
cblr-13858	295	7	-	-	ADJ
cblr-13858	295	8	purchase	purchase	ADJ
cblr-13858	295	9	sites	site	NOUN
cblr-13858	295	10	also	also	ADV
cblr-13858	295	11	allow	allow	VERB
cblr-13858	295	12	unrewarded	unrewarded	ADJ
cblr-13858	295	13	requests	request	NOUN
cblr-13858	295	14	for	for	ADP
cblr-13858	295	15	donations	donation	NOUN
cblr-13858	295	16	,	,	PUNCT
cblr-13858	295	17	"	"	PUNCT
cblr-13858	295	18	but	but	CCONJ
cblr-13858	295	19	one	one	NUM
cblr-13858	295	20	study	study	NOUN
cblr-13858	295	21	found	find	VERB
cblr-13858	295	22	that	that	SCONJ
cblr-13858	295	23	only	only	ADV
cblr-13858	295	24	22	22	NUM
cblr-13858	295	25	%	%	NOUN
cblr-13858	295	26	of	of	ADP
cblr-13858	295	27	all	all	DET
cblr-13858	295	28	crowdfunding	crowdfunde	VERB
cblr-13858	295	29	initiatives	initiative	NOUN
cblr-13858	295	30	were	be	AUX
cblr-13858	295	31	requests	request	NOUN
cblr-13858	295	32	for	for	ADP
cblr-13858	295	33	donations	donation	NOUN
cblr-13858	295	34	,	,	PUNCT
cblr-13858	295	35	with	with	ADP
cblr-13858	295	36	no	no	DET
cblr-13858	295	37	rewards	reward	NOUN
cblr-13858	295	38	offered	offer	VERB
cblr-13858	295	39	.	.	PUNCT
cblr-13858	296	1	globalgiving	globalgive	VERB
cblr-13858	296	2	is	be	AUX
cblr-13858	296	3	an	an	DET
cblr-13858	296	4	example	example	NOUN
cblr-13858	296	5	of	of	ADP
cblr-13858	296	6	a	a	DET
cblr-13858	296	7	pure	pure	ADJ
cblr-13858	296	8	donation	donation	NOUN
cblr-13858	296	9	site	site	NOUN
cblr-13858	296	10	.	.	PUNCT
cblr-13858	296	11	"	"	PUNCT
cblr-13858	297	1	it	it	PRON
cblr-13858	297	2	allows	allow	VERB
cblr-13858	297	3	donors	donor	NOUN
cblr-13858	297	4	to	to	PART
cblr-13858	297	5	direct	direct	VERB
cblr-13858	297	6	contributions	contribution	NOUN
cblr-13858	297	7	to	to	ADP
cblr-13858	297	8	development	development	NOUN
cblr-13858	297	9	projects	project	NOUN
cblr-13858	297	10	around	around	ADP
cblr-13858	297	11	the	the	DET
cblr-13858	297	12	world.47	world.47	NOUN
cblr-13858	297	13	the	the	DET
cblr-13858	297	14	globalgiving	globalgiving	PROPN
cblr-13858	297	15	foundation	foundation	NOUN
cblr-13858	297	16	,	,	PUNCT
cblr-13858	297	17	which	which	PRON
cblr-13858	297	18	operates	operate	VERB
cblr-13858	297	19	the	the	DET
cblr-13858	297	20	site	site	NOUN
cblr-13858	297	21	,	,	PUNCT
cblr-13858	297	22	takes	take	VERB
cblr-13858	297	23	a	a	DET
cblr-13858	297	24	15	15	NUM
cblr-13858	297	25	%	%	NOUN
cblr-13858	297	26	fee48	fee48	NOUN
cblr-13858	297	27	and	and	CCONJ
cblr-13858	297	28	guarantees	guarantee	VERB
cblr-13858	297	29	that	that	SCONJ
cblr-13858	297	30	the	the	DET
cblr-13858	297	31	remainder	remainder	NOUN
cblr-13858	297	32	of	of	ADP
cblr-13858	297	33	the	the	DET
cblr-13858	297	34	donation	donation	NOUN
cblr-13858	297	35	will	will	AUX
cblr-13858	297	36	reach	reach	VERB
cblr-13858	297	37	the	the	DET
cblr-13858	297	38	project	project	NOUN
cblr-13858	297	39	within	within	ADP
cblr-13858	297	40	sixty	sixty	NUM
cblr-13858	297	41	4	4	NUM
cblr-13858	297	42	see	see	NOUN
cblr-13858	297	43	,	,	PUNCT
cblr-13858	297	44	e.g.	e.g.	ADV
cblr-13858	297	45	,	,	PUNCT
cblr-13858	297	46	globalgiving	globalgiving	NOUN
cblr-13858	297	47	,	,	PUNCT
cblr-13858	297	48	http://www.globalgiving.org/	http://www.globalgiving.org/	X
cblr-13858	297	49	(	(	PUNCT
cblr-13858	297	50	last	last	ADV
cblr-13858	297	51	visited	visit	VERB
cblr-13858	297	52	mar	mar	PROPN
cblr-13858	297	53	.	.	PROPN
cblr-13858	297	54	5	5	NUM
cblr-13858	297	55	,	,	PUNCT
cblr-13858	297	56	2012	2012	NUM
cblr-13858	297	57	)	)	PUNCT
cblr-13858	297	58	;	;	PUNCT
cblr-13858	297	59	donorschoose.org	donorschoose.org	X
cblr-13858	297	60	,	,	PUNCT
cblr-13858	297	61	http://www.donorschoose.org	http://www.donorschoose.org	PROPN
cblr-13858	297	62	(	(	PUNCT
cblr-13858	297	63	last	last	ADV
cblr-13858	297	64	visited	visit	VERB
cblr-13858	297	65	mar	mar	PROPN
cblr-13858	297	66	.	.	PROPN
cblr-13858	297	67	5	5	NUM
cblr-13858	297	68	,	,	PUNCT
cblr-13858	297	69	2012	2012	NUM
cblr-13858	297	70	)	)	PUNCT
cblr-13858	297	71	.	.	PUNCT
cblr-13858	298	1	"	"	PUNCT
cblr-13858	298	2	for	for	ADP
cblr-13858	298	3	example	example	NOUN
cblr-13858	298	4	,	,	PUNCT
cblr-13858	298	5	indiegogo	indiegogo	NOUN
cblr-13858	298	6	recommends	recommend	VERB
cblr-13858	298	7	,	,	PUNCT
cblr-13858	298	8	but	but	CCONJ
cblr-13858	298	9	does	do	AUX
cblr-13858	298	10	not	not	PART
cblr-13858	298	11	require	require	VERB
cblr-13858	298	12	that	that	SCONJ
cblr-13858	298	13	fundraisers	fundraiser	NOUN
cblr-13858	298	14	offer	offer	VERB
cblr-13858	298	15	what	what	PRON
cblr-13858	298	16	it	it	PRON
cblr-13858	298	17	calls	call	VERB
cblr-13858	298	18	"	"	PUNCT
cblr-13858	298	19	perks	perk	NOUN
cblr-13858	298	20	.	.	PUNCT
cblr-13858	298	21	"	"	PUNCT
cblr-13858	299	1	see	see	VERB
cblr-13858	299	2	frequently	frequently	ADV
cblr-13858	299	3	asked	ask	VERB
cblr-13858	299	4	questions	question	NOUN
cblr-13858	299	5	:	:	PUNCT
cblr-13858	299	6	creating	create	VERB
cblr-13858	299	7	a	a	DET
cblr-13858	299	8	campaign	campaign	NOUN
cblr-13858	299	9	,	,	PUNCT
cblr-13858	299	10	indiegogo	indiegogo	NOUN
cblr-13858	299	11	,	,	PUNCT
cblr-13858	299	12	http://www.indiegogo.com/about/faqs	http://www.indiegogo.com/about/faqs	PRON
cblr-13858	299	13	(	(	PUNCT
cblr-13858	299	14	last	last	ADJ
cblr-13858	299	15	visited	visit	VERB
cblr-13858	299	16	mar	mar	PROPN
cblr-13858	299	17	.	.	PROPN
cblr-13858	299	18	5	5	NUM
cblr-13858	299	19	,	,	PUNCT
cblr-13858	299	20	2012	2012	NUM
cblr-13858	299	21	)	)	PUNCT
cblr-13858	299	22	.	.	PUNCT
cblr-13858	300	1	4	4	NUM
cblr-13858	300	2	'	'	PART
cblr-13858	300	3	belleflamme	belleflamme	NUM
cblr-13858	300	4	et	et	PROPN
cblr-13858	300	5	al	al	PROPN
cblr-13858	300	6	.	.	PROPN
cblr-13858	300	7	,	,	PUNCT
cblr-13858	300	8	supra	supra	PROPN
cblr-13858	300	9	note	note	PROPN
cblr-13858	300	10	10	10	NUM
cblr-13858	300	11	,	,	PUNCT
cblr-13858	300	12	at	at	ADP
cblr-13858	300	13	9	9	NUM
cblr-13858	300	14	.	.	NOUN
cblr-13858	300	15	4	4	NUM
cblr-13858	300	16	globalgiving	globalgive	VERB
cblr-13858	300	17	,	,	PUNCT
cblr-13858	300	18	supra	supra	PROPN
cblr-13858	300	19	note	note	NOUN
cblr-13858	300	20	43	43	NUM
cblr-13858	300	21	.	.	PUNCT
cblr-13858	301	1	another	another	DET
cblr-13858	301	2	example	example	NOUN
cblr-13858	301	3	is	be	AUX
cblr-13858	301	4	donorschoose.org	donorschoose.org	X
cblr-13858	301	5	,	,	PUNCT
cblr-13858	301	6	which	which	PRON
cblr-13858	301	7	allows	allow	VERB
cblr-13858	301	8	donors	donor	NOUN
cblr-13858	301	9	to	to	PART
cblr-13858	301	10	donate	donate	VERB
cblr-13858	301	11	to	to	ADP
cblr-13858	301	12	specific	specific	ADJ
cblr-13858	301	13	classroom	classroom	NOUN
cblr-13858	301	14	projects	project	NOUN
cblr-13858	301	15	in	in	ADP
cblr-13858	301	16	public	public	ADJ
cblr-13858	301	17	schools	school	NOUN
cblr-13858	301	18	.	.	PUNCT
cblr-13858	302	1	see	see	VERB
cblr-13858	302	2	donorschoose.org	donorschoose.org	NOUN
cblr-13858	302	3	,	,	PUNCT
cblr-13858	302	4	supra	supra	ADJ
cblr-13858	302	5	note	note	NOUN
cblr-13858	302	6	43	43	NUM
cblr-13858	302	7	.	.	PUNCT
cblr-13858	302	8	"	"	PUNCT
cblr-13858	303	1	about	about	ADP
cblr-13858	303	2	globalgiving	globalgive	VERB
cblr-13858	303	3	,	,	PUNCT
cblr-13858	303	4	globalgiving	globalgiving	NOUN
cblr-13858	303	5	,	,	PUNCT
cblr-13858	303	6	http://www.globalgiving.org/	http://www.globalgiving.org/	NOUN
cblr-13858	303	7	aboutus/	aboutus/	NUM
cblr-13858	303	8	(	(	PUNCT
cblr-13858	303	9	last	last	ADV
cblr-13858	303	10	visited	visit	VERB
cblr-13858	303	11	mar	mar	PROPN
cblr-13858	303	12	.	.	PROPN
cblr-13858	303	13	5	5	NUM
cblr-13858	303	14	,	,	PUNCT
cblr-13858	303	15	2012	2012	NUM
cblr-13858	303	16	)	)	PUNCT
cblr-13858	303	17	.	.	PUNCT
cblr-13858	304	1	4	4	NUM
cblr-13858	305	1	i	i	PRON
cblr-13858	305	2	d.	d.	PROPN
cblr-13858	305	3	no	no	INTJ
cblr-13858	305	4	.	.	PUNCT
cblr-13858	306	1	1:1	1:1	NUM
cblr-13858	306	2	]	]	X
cblr-13858	306	3	cro	cro	X
cblr-13858	306	4	wdfunding	wdfunding	NOUN
cblr-13858	306	5	and	and	CCONJ
cblr-13858	306	6	securities	security	NOUN
cblr-13858	306	7	la	la	PRON
cblr-13858	306	8	ws	ws	PROPN
cblr-13858	306	9	15	15	NUM
cblr-13858	306	10	days.4	days.4	NOUN
cblr-13858	306	11	9	9	NUM
cblr-13858	306	12	however	however	ADV
cblr-13858	306	13	,	,	PUNCT
cblr-13858	306	14	globalgiving	globalgive	VERB
cblr-13858	306	15	,	,	PUNCT
cblr-13858	306	16	like	like	ADP
cblr-13858	306	17	other	other	ADJ
cblr-13858	306	18	pure	pure	ADJ
cblr-13858	306	19	donation	donation	NOUN
cblr-13858	306	20	sites	site	NOUN
cblr-13858	306	21	,	,	PUNCT
cblr-13858	306	22	is	be	AUX
cblr-13858	306	23	limited	limit	VERB
cblr-13858	306	24	to	to	ADP
cblr-13858	306	25	non	non	ADJ
cblr-13858	306	26	-	-	ADJ
cblr-13858	306	27	profit	profit	ADJ
cblr-13858	306	28	organizations	organization	NOUN
cblr-13858	306	29	.	.	PUNCT
cblr-13858	307	1	0	0	PUNCT
cblr-13858	308	1	none	none	NOUN
cblr-13858	308	2	of	of	ADP
cblr-13858	308	3	the	the	DET
cblr-13858	308	4	leading	lead	VERB
cblr-13858	308	5	crowdfunding	crowdfunding	NOUN
cblr-13858	308	6	sites	site	NOUN
cblr-13858	308	7	available	available	ADJ
cblr-13858	308	8	to	to	ADP
cblr-13858	308	9	business	business	NOUN
cblr-13858	308	10	entrepreneurs	entrepreneur	NOUN
cblr-13858	308	11	uses	use	VERB
cblr-13858	308	12	the	the	DET
cblr-13858	308	13	pure	pure	ADJ
cblr-13858	308	14	-	-	PUNCT
cblr-13858	308	15	donation	donation	NOUN
cblr-13858	308	16	model	model	NOUN
cblr-13858	308	17	.	.	PUNCT
cblr-13858	309	1	2	2	X
cblr-13858	309	2	.	.	X
cblr-13858	309	3	reward	reward	NOUN
cblr-13858	309	4	and	and	CCONJ
cblr-13858	309	5	pre	pre	ADJ
cblr-13858	309	6	-	-	NOUN
cblr-13858	309	7	purchase	purchase	NOUN
cblr-13858	309	8	sites	site	NOUN
cblr-13858	309	9	the	the	DET
cblr-13858	309	10	reward	reward	NOUN
cblr-13858	309	11	and	and	CCONJ
cblr-13858	309	12	pre	pre	ADJ
cblr-13858	309	13	-	-	ADJ
cblr-13858	309	14	purchase	purchase	ADJ
cblr-13858	309	15	crowdfunding	crowdfunding	NOUN
cblr-13858	309	16	models	model	NOUN
cblr-13858	309	17	are	be	AUX
cblr-13858	309	18	similar	similar	ADJ
cblr-13858	309	19	to	to	ADP
cblr-13858	309	20	each	each	DET
cblr-13858	309	21	other	other	ADJ
cblr-13858	309	22	,	,	PUNCT
cblr-13858	309	23	and	and	CCONJ
cblr-13858	309	24	often	often	ADV
cblr-13858	309	25	appear	appear	VERB
cblr-13858	309	26	together	together	ADV
cblr-13858	309	27	on	on	ADP
cblr-13858	309	28	the	the	DET
cblr-13858	309	29	same	same	ADJ
cblr-13858	309	30	sites	site	NOUN
cblr-13858	309	31	.	.	PUNCT
cblr-13858	310	1	the	the	DET
cblr-13858	310	2	reward	reward	NOUN
cblr-13858	310	3	model	model	NOUN
cblr-13858	310	4	offers	offer	VERB
cblr-13858	310	5	something	something	PRON
cblr-13858	310	6	to	to	ADP
cblr-13858	310	7	the	the	DET
cblr-13858	310	8	investor	investor	NOUN
cblr-13858	310	9	in	in	ADP
cblr-13858	310	10	return	return	NOUN
cblr-13858	310	11	for	for	ADP
cblr-13858	310	12	the	the	DET
cblr-13858	310	13	contribution	contribution	NOUN
cblr-13858	310	14	,	,	PUNCT
cblr-13858	310	15	but	but	CCONJ
cblr-13858	310	16	does	do	AUX
cblr-13858	310	17	not	not	PART
cblr-13858	310	18	offer	offer	VERB
cblr-13858	310	19	interest	interest	NOUN
cblr-13858	310	20	or	or	CCONJ
cblr-13858	310	21	a	a	DET
cblr-13858	310	22	part	part	NOUN
cblr-13858	310	23	of	of	ADP
cblr-13858	310	24	the	the	DET
cblr-13858	310	25	earnings	earning	NOUN
cblr-13858	310	26	of	of	ADP
cblr-13858	310	27	the	the	DET
cblr-13858	310	28	business	business	NOUN
cblr-13858	310	29	.	.	PUNCT
cblr-13858	311	1	the	the	DET
cblr-13858	311	2	reward	reward	NOUN
cblr-13858	311	3	could	could	AUX
cblr-13858	311	4	be	be	AUX
cblr-13858	311	5	small	small	ADJ
cblr-13858	311	6	,	,	PUNCT
cblr-13858	311	7	such	such	ADJ
cblr-13858	311	8	as	as	ADP
cblr-13858	311	9	a	a	DET
cblr-13858	311	10	key	key	ADJ
cblr-13858	311	11	chain	chain	NOUN
cblr-13858	311	12	,	,	PUNCT
cblr-13858	311	13	or	or	CCONJ
cblr-13858	311	14	it	it	PRON
cblr-13858	311	15	could	could	AUX
cblr-13858	311	16	be	be	AUX
cblr-13858	311	17	something	something	PRON
cblr-13858	311	18	with	with	ADP
cblr-13858	311	19	a	a	DET
cblr-13858	311	20	little	little	ADJ
cblr-13858	311	21	more	more	ADJ
cblr-13858	311	22	cachet	cachet	NOUN
cblr-13858	311	23	,	,	PUNCT
cblr-13858	311	24	such	such	ADJ
cblr-13858	311	25	as	as	ADP
cblr-13858	311	26	the	the	DET
cblr-13858	311	27	investor	investor	NOUN
cblr-13858	311	28	's	's	PART
cblr-13858	311	29	name	name	NOUN
cblr-13858	311	30	on	on	ADP
cblr-13858	311	31	the	the	DET
cblr-13858	311	32	credits	credit	NOUN
cblr-13858	311	33	of	of	ADP
cblr-13858	311	34	a	a	DET
cblr-13858	311	35	movie	movie	NOUN
cblr-13858	311	36	.	.	PUNCT
cblr-13858	311	37	"	"	PUNCT
cblr-13858	312	1	the	the	DET
cblr-13858	312	2	pre	pre	ADJ
cblr-13858	312	3	-	-	ADJ
cblr-13858	312	4	purchase	purchase	ADJ
cblr-13858	312	5	model	model	NOUN
cblr-13858	312	6	,	,	PUNCT
cblr-13858	312	7	the	the	DET
cblr-13858	312	8	most	most	ADV
cblr-13858	312	9	common	common	ADJ
cblr-13858	312	10	type	type	NOUN
cblr-13858	312	11	of	of	ADP
cblr-13858	312	12	crowdfunding,5	crowdfunding,5	NOUN
cblr-13858	312	13	2	2	NUM
cblr-13858	312	14	is	be	AUX
cblr-13858	312	15	similar	similar	ADJ
cblr-13858	312	16	.	.	PUNCT
cblr-13858	313	1	as	as	ADP
cblr-13858	313	2	with	with	ADP
cblr-13858	313	3	the	the	DET
cblr-13858	313	4	reward	reward	NOUN
cblr-13858	313	5	model	model	NOUN
cblr-13858	313	6	,	,	PUNCT
cblr-13858	313	7	contributors	contributor	NOUN
cblr-13858	313	8	do	do	AUX
cblr-13858	313	9	not	not	PART
cblr-13858	313	10	receive	receive	VERB
cblr-13858	313	11	a	a	DET
cblr-13858	313	12	financial	financial	ADJ
cblr-13858	313	13	return	return	NOUN
cblr-13858	313	14	such	such	ADJ
cblr-13858	313	15	as	as	ADP
cblr-13858	313	16	interest	interest	NOUN
cblr-13858	313	17	,	,	PUNCT
cblr-13858	313	18	dividends	dividend	NOUN
cblr-13858	313	19	,	,	PUNCT
cblr-13858	313	20	or	or	CCONJ
cblr-13858	313	21	part	part	NOUN
cblr-13858	313	22	of	of	ADP
cblr-13858	313	23	the	the	DET
cblr-13858	313	24	earnings	earning	NOUN
cblr-13858	313	25	of	of	ADP
cblr-13858	313	26	the	the	DET
cblr-13858	313	27	business	business	NOUN
cblr-13858	313	28	.	.	PUNCT
cblr-13858	314	1	instead	instead	ADV
cblr-13858	314	2	,	,	PUNCT
cblr-13858	314	3	they	they	PRON
cblr-13858	314	4	receive	receive	VERB
cblr-13858	314	5	the	the	DET
cblr-13858	314	6	product	product	NOUN
cblr-13858	314	7	that	that	PRON
cblr-13858	314	8	the	the	DET
cblr-13858	314	9	entrepreneur	entrepreneur	NOUN
cblr-13858	314	10	is	be	AUX
cblr-13858	314	11	making	make	VERB
cblr-13858	314	12	.	.	PUNCT
cblr-13858	315	1	for	for	ADP
cblr-13858	315	2	example	example	NOUN
cblr-13858	315	3	,	,	PUNCT
cblr-13858	315	4	if	if	SCONJ
cblr-13858	315	5	the	the	DET
cblr-13858	315	6	entrepreneur	entrepreneur	NOUN
cblr-13858	315	7	is	be	AUX
cblr-13858	315	8	producing	produce	VERB
cblr-13858	315	9	a	a	DET
cblr-13858	315	10	music	music	NOUN
cblr-13858	315	11	album	album	NOUN
cblr-13858	315	12	,	,	PUNCT
cblr-13858	315	13	contributors	contributor	NOUN
cblr-13858	315	14	would	would	AUX
cblr-13858	315	15	receive	receive	VERB
cblr-13858	315	16	the	the	DET
cblr-13858	315	17	album	album	NOUN
cblr-13858	315	18	or	or	CCONJ
cblr-13858	315	19	the	the	DET
cblr-13858	315	20	right	right	NOUN
cblr-13858	315	21	to	to	PART
cblr-13858	315	22	buy	buy	VERB
cblr-13858	315	23	the	the	DET
cblr-13858	315	24	album	album	NOUN
cblr-13858	315	25	at	at	ADP
cblr-13858	315	26	a	a	DET
cblr-13858	315	27	reduced	reduce	VERB
cblr-13858	315	28	price	price	NOUN
cblr-13858	315	29	upon	upon	SCONJ
cblr-13858	315	30	completion	completion	NOUN
cblr-13858	315	31	.	.	PUNCT
cblr-13858	316	1	kickstarter	kickstarter	NOUN
cblr-13858	316	2	3	3	NUM
cblr-13858	316	3	and	and	CCONJ
cblr-13858	316	4	indiegogo4	indiegogo4	NOUN
cblr-13858	316	5	are	be	AUX
cblr-13858	316	6	the	the	DET
cblr-13858	316	7	leading	lead	VERB
cblr-13858	316	8	reward	reward	NOUN
cblr-13858	316	9	/	/	SYM
cblr-13858	316	10	prepurchase	prepurchase	ADJ
cblr-13858	316	11	crowdfunding	crowdfunding	NOUN
cblr-13858	316	12	sites	site	NOUN
cblr-13858	316	13	.	.	PUNCT
cblr-13858	317	1	5	5	NUM
cblr-13858	317	2	the	the	DET
cblr-13858	317	3	two	two	NUM
cblr-13858	317	4	sites	site	NOUN
cblr-13858	317	5	are	be	AUX
cblr-13858	317	6	similar	similar	ADJ
cblr-13858	317	7	.	.	PUNCT
cblr-13858	318	1	4	4	NUM
cblr-13858	318	2	how	how	SCONJ
cblr-13858	318	3	global	global	ADJ
cblr-13858	318	4	giving	giving	NOUN
cblr-13858	318	5	works	work	NOUN
cblr-13858	318	6	,	,	PUNCT
cblr-13858	318	7	globalgiving	globalgiving	NOUN
cblr-13858	318	8	,	,	PUNCT
cblr-13858	318	9	http://www.global	http://www.global	ADJ
cblr-13858	318	10	giving.org/howitworks.html	giving.org/howitworks.html	PROPN
cblr-13858	318	11	(	(	PUNCT
cblr-13858	318	12	last	last	ADV
cblr-13858	318	13	visited	visit	VERB
cblr-13858	318	14	mar	mar	PROPN
cblr-13858	318	15	.	.	PROPN
cblr-13858	318	16	5	5	NUM
cblr-13858	318	17	,	,	PUNCT
cblr-13858	318	18	2012	2012	NUM
cblr-13858	318	19	)	)	PUNCT
cblr-13858	318	20	.	.	PUNCT
cblr-13858	319	1	5o	5o	PROPN
cblr-13858	319	2	see	see	VERB
cblr-13858	319	3	globalgiving	globalgiving	NOUN
cblr-13858	319	4	is	be	AUX
cblr-13858	319	5	always	always	ADV
cblr-13858	319	6	looking	look	VERB
cblr-13858	319	7	for	for	ADP
cblr-13858	319	8	more	more	ADV
cblr-13858	319	9	incredible	incredible	ADJ
cblr-13858	319	10	grassroots	grassroot	NOUN
cblr-13858	319	11	projects	project	NOUN
cblr-13858	319	12	,	,	PUNCT
cblr-13858	319	13	globalging	globalge	VERB
cblr-13858	319	14	,	,	PUNCT
cblr-13858	319	15	http://www.globalgiving.org/non-profits/join-global	http://www.globalgiving.org/non-profits/join-global	PROPN
cblr-13858	319	16	giving/	giving/	NUM
cblr-13858	319	17	(	(	PUNCT
cblr-13858	319	18	last	last	ADJ
cblr-13858	319	19	visited	visit	VERB
cblr-13858	319	20	mar	mar	PROPN
cblr-13858	319	21	.	.	PROPN
cblr-13858	319	22	5	5	NUM
cblr-13858	319	23	,	,	PUNCT
cblr-13858	319	24	2012	2012	NUM
cblr-13858	319	25	)	)	PUNCT
cblr-13858	319	26	.	.	PUNCT
cblr-13858	320	1	"	"	PUNCT
cblr-13858	320	2	see	see	VERB
cblr-13858	320	3	,	,	PUNCT
cblr-13858	320	4	e.g.	e.g.	ADV
cblr-13858	320	5	,	,	PUNCT
cblr-13858	320	6	kappel	kappel	NOUN
cblr-13858	320	7	,	,	PUNCT
cblr-13858	320	8	supra	supra	PROPN
cblr-13858	320	9	note	note	NOUN
cblr-13858	320	10	22	22	NUM
cblr-13858	320	11	,	,	PUNCT
cblr-13858	320	12	at	at	ADP
cblr-13858	320	13	376	376	NUM
cblr-13858	320	14	(	(	PUNCT
cblr-13858	320	15	patrons	patron	NOUN
cblr-13858	320	16	receive	receive	VERB
cblr-13858	320	17	perks	perk	NOUN
cblr-13858	320	18	"	"	PUNCT
cblr-13858	320	19	such	such	ADJ
cblr-13858	320	20	as	as	ADP
cblr-13858	320	21	the	the	DET
cblr-13858	320	22	use	use	NOUN
cblr-13858	320	23	of	of	ADP
cblr-13858	320	24	their	their	PRON
cblr-13858	320	25	name	name	NOUN
cblr-13858	320	26	in	in	ADP
cblr-13858	320	27	the	the	DET
cblr-13858	320	28	film	film	NOUN
cblr-13858	320	29	credits	credit	NOUN
cblr-13858	320	30	or	or	CCONJ
cblr-13858	320	31	album	album	NOUN
cblr-13858	320	32	liner	liner	NOUN
cblr-13858	320	33	notes	note	NOUN
cblr-13858	320	34	,	,	PUNCT
cblr-13858	320	35	advanced	advanced	ADJ
cblr-13858	320	36	autographed	autograph	VERB
cblr-13858	320	37	copies	copy	NOUN
cblr-13858	320	38	of	of	ADP
cblr-13858	320	39	the	the	DET
cblr-13858	320	40	work	work	NOUN
cblr-13858	320	41	,	,	PUNCT
cblr-13858	320	42	or	or	CCONJ
cblr-13858	320	43	backstage	backstage	NOUN
cblr-13858	320	44	access	access	NOUN
cblr-13858	320	45	at	at	ADP
cblr-13858	320	46	a	a	DET
cblr-13858	320	47	performer	performer	NOUN
cblr-13858	320	48	's	's	PART
cblr-13858	320	49	show	show	NOUN
cblr-13858	320	50	.	.	PUNCT
cblr-13858	320	51	"	"	PUNCT
cblr-13858	320	52	)	)	PUNCT
cblr-13858	320	53	.	.	PUNCT
cblr-13858	321	1	52	52	NUM
cblr-13858	321	2	belleflamme	belleflamme	NOUN
cblr-13858	321	3	et	et	PROPN
cblr-13858	321	4	al	al	PROPN
cblr-13858	321	5	.	.	PROPN
cblr-13858	321	6	,	,	PUNCT
cblr-13858	321	7	supra	supra	PROPN
cblr-13858	321	8	note	note	PROPN
cblr-13858	321	9	10	10	NUM
cblr-13858	321	10	,	,	PUNCT
cblr-13858	321	11	at	at	ADP
cblr-13858	321	12	34	34	NUM
cblr-13858	321	13	-	-	SYM
cblr-13858	321	14	35	35	NUM
cblr-13858	321	15	tbl	tbl	NOUN
cblr-13858	321	16	.	.	PUNCT
cblr-13858	322	1	3	3	NUM
cblr-13858	322	2	(	(	PUNCT
cblr-13858	322	3	66.7	66.7	NUM
cblr-13858	322	4	%	%	NOUN
cblr-13858	322	5	of	of	ADP
cblr-13858	322	6	crowdfunding	crowdfunding	NOUN
cblr-13858	322	7	offerings	offering	NOUN
cblr-13858	322	8	not	not	PART
cblr-13858	322	9	involving	involve	VERB
cblr-13858	322	10	pure	pure	ADJ
cblr-13858	322	11	donations	donation	NOUN
cblr-13858	322	12	offered	offer	VERB
cblr-13858	322	13	the	the	DET
cblr-13858	322	14	right	right	NOUN
cblr-13858	322	15	to	to	PART
cblr-13858	322	16	receive	receive	VERB
cblr-13858	322	17	a	a	DET
cblr-13858	322	18	product	product	NOUN
cblr-13858	322	19	)	)	PUNCT
cblr-13858	322	20	.	.	PUNCT
cblr-13858	323	1	1	1	NUM
cblr-13858	323	2	kickstarter	kickstarter	NOUN
cblr-13858	323	3	:	:	PUNCT
cblr-13858	323	4	a	a	DET
cblr-13858	323	5	new	new	ADJ
cblr-13858	323	6	way	way	NOUN
cblr-13858	323	7	to	to	PART
cblr-13858	323	8	fund	fund	VERB
cblr-13858	323	9	&	&	CCONJ
cblr-13858	323	10	follow	follow	VERB
cblr-13858	323	11	creativity	creativity	NOUN
cblr-13858	323	12	,	,	PUNCT
cblr-13858	323	13	kickstarter	kickstarter	NOUN
cblr-13858	323	14	,	,	PUNCT
cblr-13858	323	15	http://www.kickstarter.com/	http://www.kickstarter.com/	NOUN
cblr-13858	323	16	(	(	PUNCT
cblr-13858	323	17	last	last	ADJ
cblr-13858	323	18	visited	visit	VERB
cblr-13858	323	19	mar	mar	PROPN
cblr-13858	323	20	.	.	PROPN
cblr-13858	323	21	5	5	NUM
cblr-13858	323	22	,	,	PUNCT
cblr-13858	323	23	2012	2012	NUM
cblr-13858	323	24	)	)	PUNCT
cblr-13858	323	25	.	.	PUNCT
cblr-13858	324	1	4	4	NUM
cblr-13858	324	2	indiegogo	indiegogo	NOUN
cblr-13858	324	3	,	,	PUNCT
cblr-13858	324	4	supra	supra	PROPN
cblr-13858	324	5	note	note	VERB
cblr-13858	324	6	33	33	NUM
cblr-13858	324	7	.	.	PUNCT
cblr-13858	325	1	[	[	X
cblr-13858	325	2	vol	vol	NOUN
cblr-13858	325	3	.	.	PUNCT
cblr-13858	325	4	201216	201216	NUM
cblr-13858	325	5	col	col	PROPN
cblr-13858	325	6	umia	umia	PROPN
cblr-13858	325	7	b	b	PROPN
cblr-13858	325	8	usiness	usiness	PROPN
cblr-13858	325	9	la	la	PROPN
cblr-13858	325	10	w	w	PROPN
cblr-13858	325	11	re	re	PROPN
cblr-13858	325	12	vie	vie	PROPN
cblr-13858	325	13	w	w	PROPN
cblr-13858	325	14	kickstarter	kickstarter	PROPN
cblr-13858	325	15	requires	require	VERB
cblr-13858	325	16	its	its	PRON
cblr-13858	325	17	projects	project	NOUN
cblr-13858	325	18	to	to	PART
cblr-13858	325	19	offer	offer	VERB
cblr-13858	325	20	what	what	PRON
cblr-13858	325	21	it	it	PRON
cblr-13858	325	22	calls	call	VERB
cblr-13858	325	23	"	"	PUNCT
cblr-13858	325	24	rewards	reward	NOUN
cblr-13858	325	25	,	,	PUNCT
cblr-13858	325	26	"	"	PUNCT
cblr-13858	325	27	6	6	NUM
cblr-13858	325	28	typically	typically	ADV
cblr-13858	325	29	of	of	ADP
cblr-13858	325	30	the	the	DET
cblr-13858	325	31	pre	pre	ADJ
cblr-13858	325	32	-	-	ADJ
cblr-13858	325	33	purchase	purchase	ADJ
cblr-13858	325	34	variety	variety	NOUN
cblr-13858	325	35	.	.	PUNCT
cblr-13858	326	1	according	accord	VERB
cblr-13858	326	2	to	to	ADP
cblr-13858	326	3	kickstarter	kickstarter	NOUN
cblr-13858	326	4	,	,	PUNCT
cblr-13858	326	5	"	"	PUNCT
cblr-13858	326	6	rewards	reward	NOUN
cblr-13858	326	7	are	be	AUX
cblr-13858	326	8	typically	typically	ADV
cblr-13858	326	9	items	item	NOUN
cblr-13858	326	10	produced	produce	VERB
cblr-13858	326	11	by	by	ADP
cblr-13858	326	12	the	the	DET
cblr-13858	326	13	project	project	NOUN
cblr-13858	326	14	itself	itself	PRON
cblr-13858	326	15	-	-	PUNCT
cblr-13858	326	16	a	a	DET
cblr-13858	326	17	copy	copy	NOUN
cblr-13858	326	18	of	of	ADP
cblr-13858	326	19	the	the	DET
cblr-13858	326	20	cd	cd	PROPN
cblr-13858	326	21	,	,	PUNCT
cblr-13858	326	22	a	a	DET
cblr-13858	326	23	print	print	NOUN
cblr-13858	326	24	from	from	ADP
cblr-13858	326	25	the	the	DET
cblr-13858	326	26	show	show	NOUN
cblr-13858	326	27	,	,	PUNCT
cblr-13858	326	28	a	a	DET
cblr-13858	326	29	limited	limited	ADJ
cblr-13858	326	30	edition	edition	NOUN
cblr-13858	326	31	of	of	ADP
cblr-13858	326	32	the	the	DET
cblr-13858	326	33	comic	comic	NOUN
cblr-13858	326	34	.	.	PUNCT
cblr-13858	327	1	"	"	PUNCT
cblr-13858	327	2	"	"	PUNCT
cblr-13858	327	3	typically	typically	ADV
cblr-13858	327	4	,	,	PUNCT
cblr-13858	327	5	the	the	DET
cblr-13858	327	6	"	"	PUNCT
cblr-13858	327	7	donation	donation	NOUN
cblr-13858	327	8	"	"	PUNCT
cblr-13858	327	9	required	require	VERB
cblr-13858	327	10	to	to	PART
cblr-13858	327	11	receive	receive	VERB
cblr-13858	327	12	the	the	DET
cblr-13858	327	13	product	product	NOUN
cblr-13858	327	14	is	be	AUX
cblr-13858	327	15	below	below	ADP
cblr-13858	327	16	the	the	DET
cblr-13858	327	17	planned	plan	VERB
cblr-13858	327	18	retail	retail	ADJ
cblr-13858	327	19	price	price	NOUN
cblr-13858	327	20	.	.	PUNCT
cblr-13858	328	1	for	for	ADP
cblr-13858	328	2	example	example	NOUN
cblr-13858	328	3	,	,	PUNCT
cblr-13858	328	4	dan	dan	PROPN
cblr-13858	328	5	provost	provost	PROPN
cblr-13858	328	6	and	and	CCONJ
cblr-13858	328	7	tom	tom	PROPN
cblr-13858	328	8	gerhardt	gerhardt	PROPN
cblr-13858	328	9	,	,	PUNCT
cblr-13858	328	10	who	who	PRON
cblr-13858	328	11	designed	design	VERB
cblr-13858	328	12	a	a	DET
cblr-13858	328	13	tripod	tripod	NOUN
cblr-13858	328	14	mount	mount	NOUN
cblr-13858	328	15	for	for	ADP
cblr-13858	328	16	the	the	DET
cblr-13858	328	17	iphone	iphone	NOUN
cblr-13858	328	18	,	,	PUNCT
cblr-13858	328	19	offered	offer	VERB
cblr-13858	328	20	one	one	NUM
cblr-13858	328	21	of	of	ADP
cblr-13858	328	22	the	the	DET
cblr-13858	328	23	mounts	mount	NOUN
cblr-13858	328	24	to	to	ADP
cblr-13858	328	25	anyone	anyone	PRON
cblr-13858	328	26	who	who	PRON
cblr-13858	328	27	donated	donate	VERB
cblr-13858	328	28	$	$	SYM
cblr-13858	328	29	20.8	20.8	NUM
cblr-13858	328	30	they	they	PRON
cblr-13858	328	31	planned	plan	VERB
cblr-13858	328	32	to	to	PART
cblr-13858	328	33	sell	sell	VERB
cblr-13858	328	34	the	the	DET
cblr-13858	328	35	mount	mount	NOUN
cblr-13858	328	36	for	for	ADP
cblr-13858	328	37	a	a	DET
cblr-13858	328	38	retail	retail	ADJ
cblr-13858	328	39	price	price	NOUN
cblr-13858	328	40	of	of	ADP
cblr-13858	328	41	$	$	SYM
cblr-13858	328	42	34.95	34.95	NUM
cblr-13858	328	43	.	.	PUNCT
cblr-13858	328	44	"	"	PUNCT
cblr-13858	329	1	but	but	CCONJ
cblr-13858	329	2	kickstarter	kickstarter	PROPN
cblr-13858	329	3	's	's	PART
cblr-13858	329	4	rewards	reward	NOUN
cblr-13858	329	5	are	be	AUX
cblr-13858	329	6	not	not	PART
cblr-13858	329	7	limited	limit	VERB
cblr-13858	329	8	to	to	ADP
cblr-13858	329	9	pre	pre	VERB
cblr-13858	329	10	-	-	VERB
cblr-13858	329	11	purchase	purchase	NOUN
cblr-13858	329	12	.	.	PUNCT
cblr-13858	330	1	other	other	ADJ
cblr-13858	330	2	suggested	suggest	VERB
cblr-13858	330	3	rewards	reward	NOUN
cblr-13858	330	4	include	include	VERB
cblr-13858	330	5	"	"	PUNCT
cblr-13858	330	6	a	a	DET
cblr-13858	330	7	visit	visit	NOUN
cblr-13858	330	8	to	to	ADP
cblr-13858	330	9	the	the	DET
cblr-13858	330	10	set	set	NOUN
cblr-13858	330	11	,	,	PUNCT
cblr-13858	330	12	naming	name	VERB
cblr-13858	330	13	a	a	DET
cblr-13858	330	14	character	character	NOUN
cblr-13858	330	15	after	after	ADP
cblr-13858	330	16	a	a	DET
cblr-13858	330	17	backer	backer	NOUN
cblr-13858	330	18	,	,	PUNCT
cblr-13858	330	19	[	[	X
cblr-13858	330	20	or	or	CCONJ
cblr-13858	330	21	]	]	PUNCT
cblr-13858	330	22	a	a	DET
cblr-13858	330	23	personal	personal	ADJ
cblr-13858	330	24	phone	phone	NOUN
cblr-13858	330	25	call	call	NOUN
cblr-13858	330	26	.	.	PUNCT
cblr-13858	331	1	"6	"6	NOUN
cblr-13858	331	2	0	0	PUNCT
cblr-13858	332	1	the	the	DET
cblr-13858	332	2	creators	creator	NOUN
cblr-13858	332	3	of	of	ADP
cblr-13858	332	4	the	the	DET
cblr-13858	332	5	iphone	iphone	NOUN
cblr-13858	332	6	tripod	tripod	NOUN
cblr-13858	332	7	mount	mount	NOUN
cblr-13858	332	8	,	,	PUNCT
cblr-13858	332	9	for	for	ADP
cblr-13858	332	10	example	example	NOUN
cblr-13858	332	11	,	,	PUNCT
cblr-13858	332	12	offered	offer	VERB
cblr-13858	332	13	to	to	PART
cblr-13858	332	14	dine	dine	VERB
cblr-13858	332	15	with	with	ADP
cblr-13858	332	16	anyone	anyone	PRON
cblr-13858	332	17	who	who	PRON
cblr-13858	332	18	contributed	contribute	VERB
cblr-13858	332	19	$	$	SYM
cblr-13858	332	20	250.61	250.61	NUM
cblr-13858	332	21	indiegogo	indiegogo	NOUN
cblr-13858	332	22	,	,	PUNCT
cblr-13858	332	23	unlike	unlike	ADP
cblr-13858	332	24	kickstarter	kickstarter	NOUN
cblr-13858	332	25	,	,	PUNCT
cblr-13858	332	26	does	do	AUX
cblr-13858	332	27	not	not	PART
cblr-13858	332	28	require	require	VERB
cblr-13858	332	29	campaigns	campaign	NOUN
cblr-13858	332	30	to	to	PART
cblr-13858	332	31	offer	offer	VERB
cblr-13858	332	32	what	what	PRON
cblr-13858	332	33	it	it	PRON
cblr-13858	332	34	calls	call	VERB
cblr-13858	332	35	"	"	PUNCT
cblr-13858	332	36	perks	perk	NOUN
cblr-13858	332	37	,	,	PUNCT
cblr-13858	332	38	"	"	PUNCT
cblr-13858	332	39	although	although	SCONJ
cblr-13858	332	40	it	it	PRON
cblr-13858	332	41	does	do	AUX
cblr-13858	332	42	recommend	recommend	VERB
cblr-13858	332	43	them.62	them.62	NOUN
cblr-13858	332	44	many	many	ADJ
cblr-13858	332	45	of	of	ADP
cblr-13858	332	46	the	the	DET
cblr-13858	332	47	perks	perk	NOUN
cblr-13858	332	48	offered	offer	VERB
cblr-13858	332	49	on	on	ADP
cblr-13858	332	50	the	the	DET
cblr-13858	332	51	indiegogo	indiegogo	PROPN
cblr-13858	332	52	site	site	NOUN
cblr-13858	332	53	follow	follow	VERB
cblr-13858	332	54	the	the	DET
cblr-13858	332	55	pre	pre	ADJ
cblr-13858	332	56	-	-	ADJ
cblr-13858	332	57	purchase	purchase	ADJ
cblr-13858	332	58	model	model	NOUN
cblr-13858	332	59	,	,	PUNCT
cblr-13858	332	60	but	but	CCONJ
cblr-13858	332	61	some	some	PRON
cblr-13858	332	62	go	go	VERB
cblr-13858	332	63	well	well	ADV
cblr-13858	332	64	beyond	beyond	ADP
cblr-13858	332	65	that	that	PRON
cblr-13858	332	66	.	.	PUNCT
cblr-13858	333	1	the	the	DET
cblr-13858	333	2	table	table	NOUN
cblr-13858	333	3	below	below	ADP
cblr-13858	333	4	lists	list	NOUN
cblr-13858	333	5	some	some	PRON
cblr-13858	333	6	of	of	ADP
cblr-13858	333	7	the	the	DET
cblr-13858	333	8	perks	perk	NOUN
cblr-13858	333	9	"	"	PUNCT
cblr-13858	333	10	there	there	PRON
cblr-13858	333	11	are	be	VERB
cblr-13858	333	12	a	a	DET
cblr-13858	333	13	number	number	NOUN
cblr-13858	333	14	of	of	ADP
cblr-13858	333	15	other	other	ADJ
cblr-13858	333	16	rewards	reward	NOUN
cblr-13858	333	17	/	/	SYM
cblr-13858	333	18	pre	pre	ADJ
cblr-13858	333	19	-	-	ADJ
cblr-13858	333	20	purchase	purchase	ADJ
cblr-13858	333	21	sites	site	NOUN
cblr-13858	333	22	.	.	PUNCT
cblr-13858	334	1	see	see	VERB
cblr-13858	334	2	,	,	PUNCT
cblr-13858	334	3	e.g.	e.g.	ADV
cblr-13858	334	4	,	,	PUNCT
cblr-13858	334	5	8	8	NUM
cblr-13858	334	6	-	-	PUNCT
cblr-13858	334	7	bit	bit	NOUN
cblr-13858	334	8	funding	funding	NOUN
cblr-13858	334	9	,	,	PUNCT
cblr-13858	334	10	supra	supra	PROPN
cblr-13858	334	11	note	note	PROPN
cblr-13858	334	12	24	24	NUM
cblr-13858	334	13	;	;	PUNCT
cblr-13858	334	14	peerbackers	peerbacker	NOUN
cblr-13858	334	15	,	,	PUNCT
cblr-13858	334	16	supra	supra	PROPN
cblr-13858	334	17	note	note	PROPN
cblr-13858	334	18	33	33	NUM
cblr-13858	334	19	;	;	PUNCT
cblr-13858	335	1	rockethub	rockethub	NOUN
cblr-13858	335	2	,	,	PUNCT
cblr-13858	335	3	http://www.rockethub.com/	http://www.rockethub.com/	NOUN
cblr-13858	335	4	(	(	PUNCT
cblr-13858	335	5	last	last	ADV
cblr-13858	335	6	visited	visit	VERB
cblr-13858	335	7	mar	mar	PROPN
cblr-13858	335	8	.	.	PROPN
cblr-13858	335	9	5	5	NUM
cblr-13858	335	10	,	,	PUNCT
cblr-13858	335	11	2012	2012	NUM
cblr-13858	335	12	)	)	PUNCT
cblr-13858	335	13	.	.	PUNCT
cblr-13858	336	1	5	5	NUM
cblr-13858	336	2	frequently	frequently	ADV
cblr-13858	336	3	asked	ask	VERB
cblr-13858	336	4	questions	question	NOUN
cblr-13858	336	5	:	:	PUNCT
cblr-13858	336	6	creating	create	VERB
cblr-13858	336	7	a	a	DET
cblr-13858	336	8	project	project	NOUN
cblr-13858	336	9	,	,	PUNCT
cblr-13858	336	10	kickstarter	kickstarter	PROPN
cblr-13858	336	11	,	,	PUNCT
cblr-13858	336	12	supra	supra	PROPN
cblr-13858	336	13	note	note	NOUN
cblr-13858	336	14	29	29	NUM
cblr-13858	336	15	.	.	X
cblr-13858	336	16	7	7	NUM
cblr-13858	337	1	i	i	PROPN
cblr-13858	337	2	d.	d.	PROPN
cblr-13858	337	3	"	"	PUNCT
cblr-13858	337	4	farhad	farhad	PROPN
cblr-13858	337	5	manjoo	manjoo	ADV
cblr-13858	337	6	,	,	PUNCT
cblr-13858	337	7	adopt	adopt	VERB
cblr-13858	337	8	a	a	DET
cblr-13858	337	9	genius	genius	NOUN
cblr-13858	337	10	:	:	PUNCT
cblr-13858	337	11	kickstarter	kickstarter	PROPN
cblr-13858	337	12	,	,	PUNCT
cblr-13858	337	13	the	the	DET
cblr-13858	337	14	brilliant	brilliant	ADJ
cblr-13858	337	15	site	site	NOUN
cblr-13858	337	16	that	that	PRON
cblr-13858	337	17	lets	let	VERB
cblr-13858	337	18	you	you	PRON
cblr-13858	337	19	fund	fund	VERB
cblr-13858	337	20	strangers	stranger	NOUN
cblr-13858	337	21	'	'	PART
cblr-13858	337	22	brilliant	brilliant	ADJ
cblr-13858	337	23	ideas	idea	NOUN
cblr-13858	337	24	,	,	PUNCT
cblr-13858	337	25	slate	slate	NOUN
cblr-13858	337	26	(	(	PUNCT
cblr-13858	337	27	jan	jan	PROPN
cblr-13858	337	28	.	.	PROPN
cblr-13858	337	29	27	27	NUM
cblr-13858	337	30	,	,	PUNCT
cblr-13858	337	31	2011	2011	NUM
cblr-13858	337	32	,	,	PUNCT
cblr-13858	337	33	3:44	3:44	NUM
cblr-13858	337	34	pm	pm	NOUN
cblr-13858	337	35	)	)	PUNCT
cblr-13858	337	36	,	,	PUNCT
cblr-13858	337	37	http://www.slate.com/id/2282436	http://www.slate.com/id/2282436	PROPN
cblr-13858	337	38	.	.	PUNCT
cblr-13858	337	39	"	"	PUNCT
cblr-13858	338	1	see	see	VERB
cblr-13858	338	2	,	,	PUNCT
cblr-13858	338	3	e.g.	e.g.	ADV
cblr-13858	338	4	,	,	PUNCT
cblr-13858	338	5	tiktok+lunatik	tiktok+lunatik	PROPN
cblr-13858	338	6	multi	multi	ADJ
cblr-13858	338	7	-	-	ADJ
cblr-13858	338	8	touch	touch	ADJ
cblr-13858	338	9	watch	watch	NOUN
cblr-13858	338	10	kits	kit	NOUN
cblr-13858	338	11	,	,	PUNCT
cblr-13858	338	12	kickstarter	kickstarter	PROPN
cblr-13858	338	13	,	,	PUNCT
cblr-13858	338	14	http://www.kickstarter.com/projects/1104350651/tiktok-lunatik-multi-touc	http://www.kickstarter.com/projects/1104350651/tiktok-lunatik-multi-touc	PROPN
cblr-13858	338	15	h	h	PROPN
cblr-13858	338	16	-	-	PUNCT
cblr-13858	338	17	watch	watch	NOUN
cblr-13858	338	18	-	-	PUNCT
cblr-13858	338	19	kits	kit	NOUN
cblr-13858	338	20	(	(	PUNCT
cblr-13858	338	21	last	last	ADV
cblr-13858	338	22	visited	visit	VERB
cblr-13858	338	23	mar	mar	PROPN
cblr-13858	338	24	.	.	PROPN
cblr-13858	338	25	5	5	NUM
cblr-13858	338	26	,	,	PUNCT
cblr-13858	338	27	2012	2012	NUM
cblr-13858	338	28	)	)	PUNCT
cblr-13858	338	29	.	.	PUNCT
cblr-13858	339	1	for	for	ADP
cblr-13858	339	2	a	a	DET
cblr-13858	339	3	twenty	twenty	NUM
cblr-13858	339	4	-	-	PUNCT
cblr-13858	339	5	five	five	NUM
cblr-13858	339	6	dollar	dollar	NOUN
cblr-13858	339	7	pledge	pledge	NOUN
cblr-13858	339	8	,	,	PUNCT
cblr-13858	339	9	donors	donor	NOUN
cblr-13858	339	10	would	would	AUX
cblr-13858	339	11	receive	receive	VERB
cblr-13858	339	12	a	a	DET
cblr-13858	339	13	watch	watch	NOUN
cblr-13858	339	14	kit	kit	NOUN
cblr-13858	339	15	that	that	PRON
cblr-13858	339	16	will	will	AUX
cblr-13858	339	17	sell	sell	VERB
cblr-13858	339	18	for	for	ADP
cblr-13858	339	19	$	$	SYM
cblr-13858	339	20	34.95	34.95	NUM
cblr-13858	339	21	.	.	PUNCT
cblr-13858	340	1	for	for	ADP
cblr-13858	340	2	a	a	DET
cblr-13858	340	3	fifty	fifty	NUM
cblr-13858	340	4	dollar	dollar	NOUN
cblr-13858	340	5	pledge	pledge	NOUN
cblr-13858	340	6	,	,	PUNCT
cblr-13858	340	7	donors	donor	NOUN
cblr-13858	340	8	would	would	AUX
cblr-13858	340	9	receive	receive	VERB
cblr-13858	340	10	a	a	DET
cblr-13858	340	11	watch	watch	NOUN
cblr-13858	340	12	kit	kit	NOUN
cblr-13858	340	13	that	that	PRON
cblr-13858	340	14	would	would	AUX
cblr-13858	340	15	sell	sell	VERB
cblr-13858	340	16	for	for	ADP
cblr-13858	340	17	$	$	SYM
cblr-13858	340	18	69.95	69.95	NUM
cblr-13858	340	19	.	.	PUNCT
cblr-13858	340	20	'	'	PUNCT
cblr-13858	341	1	frequently	frequently	ADV
cblr-13858	341	2	asked	ask	VERB
cblr-13858	341	3	questions	question	NOUN
cblr-13858	341	4	:	:	PUNCT
cblr-13858	341	5	creating	create	VERB
cblr-13858	341	6	a	a	DET
cblr-13858	341	7	project	project	NOUN
cblr-13858	341	8	,	,	PUNCT
cblr-13858	341	9	kickstarter	kickstarter	PROPN
cblr-13858	341	10	,	,	PUNCT
cblr-13858	341	11	supra	supra	PROPN
cblr-13858	341	12	note	note	NOUN
cblr-13858	341	13	29	29	NUM
cblr-13858	341	14	.	.	X
cblr-13858	341	15	61	61	NUM
cblr-13858	341	16	manjoo	manjoo	ADJ
cblr-13858	341	17	,	,	PUNCT
cblr-13858	341	18	supra	supra	PROPN
cblr-13858	341	19	note	note	NOUN
cblr-13858	341	20	58	58	NUM
cblr-13858	341	21	.	.	PUNCT
cblr-13858	342	1	62	62	NUM
cblr-13858	342	2	frequently	frequently	ADV
cblr-13858	342	3	asked	ask	VERB
cblr-13858	342	4	questions	question	NOUN
cblr-13858	342	5	:	:	PUNCT
cblr-13858	342	6	creating	create	VERB
cblr-13858	342	7	a	a	DET
cblr-13858	342	8	campaign	campaign	NOUN
cblr-13858	342	9	,	,	PUNCT
cblr-13858	342	10	indiegogo	indiegogo	NOUN
cblr-13858	342	11	,	,	PUNCT
cblr-13858	342	12	supra	supra	PROPN
cblr-13858	342	13	note	note	NOUN
cblr-13858	342	14	44	44	NUM
cblr-13858	342	15	.	.	PUNCT
cblr-13858	343	1	cro0wdfunding	cro0wdfunde	VERB
cblr-13858	343	2	and	and	CCONJ
cblr-13858	343	3	securities	security	NOUN
cblr-13858	343	4	la	la	PRON
cblr-13858	343	5	ws	ws	PROPN
cblr-13858	343	6	17no	17no	PROPN
cblr-13858	343	7	.	.	PUNCT
cblr-13858	344	1	1:1	1:1	NUM
cblr-13858	344	2	]	]	X
cblr-13858	344	3	columbia	columbia	PROPN
cblr-13858	344	4	business	business	PROPN
cblr-13858	344	5	law	law	PROPN
cblr-13858	344	6	review	review	VERB
cblr-13858	344	7	that	that	SCONJ
cblr-13858	344	8	josh	josh	PROPN
cblr-13858	344	9	freese	freese	PROPN
cblr-13858	344	10	of	of	ADP
cblr-13858	344	11	the	the	DET
cblr-13858	344	12	band	band	NOUN
cblr-13858	344	13	nine	nine	NUM
cblr-13858	344	14	inch	inch	NOUN
cblr-13858	344	15	nails	nail	NOUN
cblr-13858	344	16	offered	offer	VERB
cblr-13858	344	17	to	to	PART
cblr-13858	344	18	help	help	VERB
cblr-13858	344	19	fund	fund	VERB
cblr-13858	344	20	an	an	DET
cblr-13858	344	21	album	album	NOUN
cblr-13858	344	22	.	.	PUNCT
cblr-13858	345	1	63	63	NUM
cblr-13858	345	2	table	table	NOUN
cblr-13858	345	3	1	1	NUM
cblr-13858	345	4	:	:	PUNCT
cblr-13858	345	5	selected	select	VERB
cblr-13858	345	6	perks	perk	NOUN
cblr-13858	345	7	for	for	ADP
cblr-13858	345	8	funders	funder	NOUN
cblr-13858	345	9	contribution	contribution	NOUN
cblr-13858	345	10	perk	perk	NOUN
cblr-13858	345	11	amount	amount	VERB
cblr-13858	345	12	$	$	SYM
cblr-13858	345	13	7	7	NUM
cblr-13858	345	14	digital	digital	ADJ
cblr-13858	345	15	download	download	NOUN
cblr-13858	345	16	of	of	ADP
cblr-13858	345	17	the	the	DET
cblr-13858	345	18	album	album	NOUN
cblr-13858	345	19	and	and	CCONJ
cblr-13858	345	20	videos	video	NOUN
cblr-13858	345	21	$	$	SYM
cblr-13858	345	22	15	15	NUM
cblr-13858	345	23	cd	cd	PROPN
cblr-13858	345	24	/	/	SYM
cblr-13858	345	25	dvd	dvd	NOUN
cblr-13858	345	26	set	set	NOUN
cblr-13858	345	27	and	and	CCONJ
cblr-13858	345	28	digital	digital	ADJ
cblr-13858	345	29	download	download	NOUN
cblr-13858	345	30	$	$	SYM
cblr-13858	345	31	50	50	NUM
cblr-13858	345	32	cd	cd	NOUN
cblr-13858	345	33	/	/	SYM
cblr-13858	345	34	dvd	dvd	PROPN
cblr-13858	345	35	set	set	VERB
cblr-13858	345	36	t	t	NOUN
cblr-13858	345	37	-	-	PUNCT
cblr-13858	345	38	shirt	shirt	NOUN
cblr-13858	345	39	a	a	DET
cblr-13858	345	40	"	"	PUNCT
cblr-13858	345	41	thank	thank	VERB
cblr-13858	345	42	you	you	PRON
cblr-13858	345	43	"	"	PUNCT
cblr-13858	345	44	phone	phone	NOUN
cblr-13858	345	45	call	call	NOUN
cblr-13858	345	46	from	from	ADP
cblr-13858	345	47	josh	josh	PROPN
cblr-13858	345	48	signed	signed	PROPN
cblr-13858	345	49	cd	cd	PROPN
cblr-13858	345	50	/	/	SYM
cblr-13858	345	51	dvd	dvd	PROPN
cblr-13858	345	52	digital	digital	ADJ
cblr-13858	345	53	download	download	NOUN
cblr-13858	345	54	t	t	PROPN
cblr-13858	345	55	-	-	PUNCT
cblr-13858	345	56	shirt	shirt	NOUN
cblr-13858	345	57	tour	tour	NOUN
cblr-13858	345	58	with	with	ADP
cblr-13858	345	59	josh	josh	PROPN
cblr-13858	345	60	for	for	ADP
cblr-13858	345	61	a	a	DET
cblr-13858	345	62	few	few	ADJ
cblr-13858	345	63	days	day	NOUN
cblr-13858	345	64	have	have	AUX
cblr-13858	345	65	josh	josh	PROPN
cblr-13858	345	66	write	write	VERB
cblr-13858	345	67	,	,	PUNCT
cblr-13858	345	68	record	record	NOUN
cblr-13858	345	69	and	and	CCONJ
cblr-13858	345	70	release	release	VERB
cblr-13858	345	71	a	a	DET
cblr-13858	345	72	5song	5song	NUM
cblr-13858	345	73	ep	ep	NOUN
cblr-13858	345	74	about	about	ADP
cblr-13858	345	75	you	you	PRON
cblr-13858	345	76	and	and	CCONJ
cblr-13858	345	77	your	your	PRON
cblr-13858	345	78	life	life	NOUN
cblr-13858	345	79	story	story	NOUN
cblr-13858	345	80	one	one	NUM
cblr-13858	345	81	of	of	ADP
cblr-13858	345	82	josh	josh	PROPN
cblr-13858	345	83	's	's	PART
cblr-13858	345	84	drum	drum	NOUN
cblr-13858	345	85	sets	set	NOUN
cblr-13858	345	86	"	"	PUNCT
cblr-13858	345	87	take	take	VERB
cblr-13858	345	88	shrooms	shroom	NOUN
cblr-13858	345	89	and	and	CCONJ
cblr-13858	345	90	cruise	cruise	NOUN
cblr-13858	345	91	hollywood	hollywood	PROPN
cblr-13858	345	92	in	in	ADP
cblr-13858	345	93	danny	danny	PROPN
cblr-13858	345	94	from	from	ADP
cblr-13858	345	95	tool	tool	NOUN
cblr-13858	345	96	's	's	PART
cblr-13858	345	97	lamborghini	lamborghini	NOUN
cblr-13858	345	98	or	or	CCONJ
cblr-13858	345	99	play	play	VERB
cblr-13858	345	100	quarters	quarter	NOUN
cblr-13858	345	101	and	and	CCONJ
cblr-13858	345	102	then	then	ADV
cblr-13858	345	103	hop	hop	VERB
cblr-13858	345	104	on	on	ADP
cblr-13858	345	105	the	the	DET
cblr-13858	345	106	ouija	ouija	NOUN
cblr-13858	345	107	board	board	NOUN
cblr-13858	345	108	for	for	ADP
cblr-13858	345	109	a	a	DET
cblr-13858	345	110	while	while	NOUN
cblr-13858	345	111	"	"	PUNCT
cblr-13858	345	112	"	"	PUNCT
cblr-13858	345	113	josh	josh	PROPN
cblr-13858	345	114	will	will	AUX
cblr-13858	345	115	join	join	VERB
cblr-13858	345	116	your	your	PRON
cblr-13858	345	117	band	band	NOUN
cblr-13858	345	118	for	for	ADP
cblr-13858	345	119	a	a	DET
cblr-13858	345	120	month	month	NOUN
cblr-13858	345	121	...	...	PUNCT
cblr-13858	345	122	play	play	VERB
cblr-13858	345	123	shows	show	NOUN
cblr-13858	345	124	,	,	PUNCT
cblr-13858	345	125	record	record	NOUN
cblr-13858	345	126	,	,	PUNCT
cblr-13858	345	127	party	party	NOUN
cblr-13858	345	128	with	with	ADP
cblr-13858	345	129	groupies	groupie	NOUN
cblr-13858	345	130	,	,	PUNCT
cblr-13858	345	131	'	'	PUNCT
cblr-13858	345	132	see	see	VERB
cblr-13858	345	133	,	,	PUNCT
cblr-13858	345	134	e.g.	e.g.	ADV
cblr-13858	345	135	,	,	PUNCT
cblr-13858	345	136	danae	danae	PROPN
cblr-13858	345	137	ringelmann	ringelmann	PROPN
cblr-13858	345	138	,	,	PUNCT
cblr-13858	345	139	want	want	VERB
cblr-13858	345	140	ideas	idea	NOUN
cblr-13858	345	141	for	for	ADP
cblr-13858	345	142	vip	vip	NOUN
cblr-13858	345	143	perks	perk	NOUN
cblr-13858	345	144	?	?	PUNCT
cblr-13858	346	1	listen	listen	VERB
cblr-13858	346	2	to	to	ADP
cblr-13858	346	3	nine	nine	NUM
cblr-13858	346	4	inch	inch	NOUN
cblr-13858	346	5	nail	nail	NOUN
cblr-13858	346	6	's	's	PART
cblr-13858	346	7	former	former	ADJ
cblr-13858	346	8	drummer	drummer	NOUN
cblr-13858	346	9	,	,	PUNCT
cblr-13858	346	10	gogo	gogo	PROPN
cblr-13858	346	11	blog	blog	PROPN
cblr-13858	346	12	(	(	PUNCT
cblr-13858	346	13	feb	feb	PROPN
cblr-13858	346	14	.	.	PROPN
cblr-13858	346	15	20	20	NUM
cblr-13858	346	16	,	,	PUNCT
cblr-13858	346	17	2009	2009	NUM
cblr-13858	346	18	,	,	PUNCT
cblr-13858	346	19	7:23	7:23	NUM
cblr-13858	346	20	pm	pm	NOUN
cblr-13858	346	21	)	)	PUNCT
cblr-13858	346	22	,	,	PUNCT
cblr-13858	346	23	http://www.indiegogo.com/blog/2009/02/want-ideas-for-vip-perks-listen-tonine-inch-nails-former-drummer.html	http://www.indiegogo.com/blog/2009/02/want-ideas-for-vip-perks-listen-tonine-inch-nails-former-drummer.html	PROPN
cblr-13858	346	24	.	.	PUNCT
cblr-13858	347	1	one	one	PRON
cblr-13858	347	2	hopes	hope	VERB
cblr-13858	347	3	that	that	SCONJ
cblr-13858	347	4	at	at	ADV
cblr-13858	347	5	least	least	ADJ
cblr-13858	347	6	a	a	DET
cblr-13858	347	7	couple	couple	NOUN
cblr-13858	347	8	of	of	ADP
cblr-13858	347	9	the	the	DET
cblr-13858	347	10	listed	list	VERB
cblr-13858	347	11	perks	perk	NOUN
cblr-13858	347	12	are	be	AUX
cblr-13858	347	13	intended	intend	VERB
cblr-13858	347	14	as	as	ADP
cblr-13858	347	15	jokes	joke	NOUN
cblr-13858	347	16	.	.	PUNCT
cblr-13858	348	1	$	$	SYM
cblr-13858	348	2	75,000	75,000	NUM
cblr-13858	348	3	18	18	NUM
cblr-13858	349	1	[	[	X
cblr-13858	349	2	vol	vol	NOUN
cblr-13858	349	3	.	.	PUNCT
cblr-13858	349	4	2012	2012	NUM
cblr-13858	349	5	crowdfunding	crowdfunding	NOUN
cblr-13858	349	6	and	and	CCONJ
cblr-13858	349	7	securities	security	NOUN
cblr-13858	349	8	laws	law	NOUN
cblr-13858	349	9	contribution	contribution	NOUN
cblr-13858	349	10	perk	perk	NOUN
cblr-13858	349	11	amount	amount	VERB
cblr-13858	349	12	$	$	SYM
cblr-13858	349	13	75,000	75,000	NUM
cblr-13858	349	14	etc	etc	NOUN
cblr-13858	349	15	.	.	PUNCT
cblr-13858	350	1	if	if	SCONJ
cblr-13858	350	2	you	you	PRON
cblr-13858	350	3	do	do	AUX
cblr-13858	350	4	n't	not	PART
cblr-13858	350	5	have	have	VERB
cblr-13858	350	6	a	a	DET
cblr-13858	350	7	band	band	NOUN
cblr-13858	350	8	he	he	PRON
cblr-13858	350	9	'll	will	AUX
cblr-13858	350	10	be	be	AUX
cblr-13858	350	11	your	your	PRON
cblr-13858	350	12	personal	personal	ADJ
cblr-13858	350	13	assistant	assistant	NOUN
cblr-13858	350	14	for	for	ADP
cblr-13858	350	15	a	a	DET
cblr-13858	350	16	month	month	NOUN
cblr-13858	350	17	(	(	PUNCT
cblr-13858	350	18	4	4	NUM
cblr-13858	350	19	-	-	PUNCT
cblr-13858	350	20	day	day	NOUN
cblr-13858	350	21	work	work	NOUN
cblr-13858	350	22	weeks	week	NOUN
cblr-13858	350	23	,	,	PUNCT
cblr-13858	350	24	10	10	NUM
cblr-13858	350	25	am	be	AUX
cblr-13858	350	26	to	to	ADP
cblr-13858	350	27	4	4	NUM
cblr-13858	350	28	pm	pm	NOUN
cblr-13858	350	29	)	)	PUNCT
cblr-13858	350	30	.	.	PUNCT
cblr-13858	350	31	"	"	PUNCT
cblr-13858	351	1	"	"	PUNCT
cblr-13858	351	2	take	take	VERB
cblr-13858	351	3	a	a	DET
cblr-13858	351	4	limo	limo	NOUN
cblr-13858	351	5	down	down	ADP
cblr-13858	351	6	to	to	ADP
cblr-13858	351	7	tijuana	tijuana	NOUN
cblr-13858	351	8	and	and	CCONJ
cblr-13858	351	9	he	he	PRON
cblr-13858	351	10	'll	will	AUX
cblr-13858	351	11	show	show	VERB
cblr-13858	351	12	you	you	PRON
cblr-13858	351	13	how	how	SCONJ
cblr-13858	351	14	it	it	PRON
cblr-13858	351	15	's	be	AUX
cblr-13858	351	16	done	do	VERB
cblr-13858	351	17	(	(	PUNCT
cblr-13858	351	18	what	what	PRON
cblr-13858	351	19	that	that	PRON
cblr-13858	351	20	means	mean	VERB
cblr-13858	351	21	exactly	exactly	ADV
cblr-13858	351	22	we	we	PRON
cblr-13858	351	23	ca	can	AUX
cblr-13858	351	24	n't	not	PART
cblr-13858	351	25	legally	legally	ADV
cblr-13858	351	26	get	get	VERB
cblr-13858	351	27	into	into	ADP
cblr-13858	351	28	here	here	ADV
cblr-13858	351	29	)	)	PUNCT
cblr-13858	351	30	"	"	PUNCT
cblr-13858	352	1	"	"	PUNCT
cblr-13858	352	2	if	if	SCONJ
cblr-13858	352	3	you	you	PRON
cblr-13858	352	4	do	do	AUX
cblr-13858	352	5	n't	not	PART
cblr-13858	352	6	live	live	VERB
cblr-13858	352	7	in	in	ADP
cblr-13858	352	8	southern	southern	ADJ
cblr-13858	352	9	california	california	PROPN
cblr-13858	352	10	(	(	PUNCT
cblr-13858	352	11	but	but	CCONJ
cblr-13858	352	12	are	be	AUX
cblr-13858	352	13	a	a	DET
cblr-13858	352	14	u.s	u.s	PROPN
cblr-13858	352	15	.	.	PROPN
cblr-13858	352	16	resident	resident	PROPN
cblr-13858	352	17	)	)	PUNCT
cblr-13858	352	18	he	he	PRON
cblr-13858	352	19	'll	will	AUX
cblr-13858	352	20	come	come	VERB
cblr-13858	352	21	to	to	ADP
cblr-13858	352	22	you	you	PRON
cblr-13858	352	23	and	and	CCONJ
cblr-13858	352	24	be	be	AUX
cblr-13858	352	25	your	your	PRON
cblr-13858	352	26	personal	personal	ADJ
cblr-13858	352	27	assistant	assistant	NOUN
cblr-13858	352	28	/	/	SYM
cblr-13858	352	29	cabana	cabana	NOUN
cblr-13858	352	30	boy	boy	NOUN
cblr-13858	352	31	for	for	ADP
cblr-13858	352	32	2	2	NUM
cblr-13858	352	33	weeks	week	NOUN
cblr-13858	352	34	"	"	PUNCT
cblr-13858	352	35	"	"	PUNCT
cblr-13858	352	36	take	take	VERB
cblr-13858	352	37	a	a	DET
cblr-13858	352	38	flying	fly	VERB
cblr-13858	352	39	trapeze	trapeze	NOUN
cblr-13858	352	40	lesson	lesson	NOUN
cblr-13858	352	41	with	with	ADP
cblr-13858	352	42	josh	josh	PROPN
cblr-13858	352	43	and	and	CCONJ
cblr-13858	352	44	robin	robin	PROPN
cblr-13858	352	45	from	from	ADP
cblr-13858	352	46	nin	nin	PROPN
cblr-13858	352	47	,	,	PUNCT
cblr-13858	352	48	go	go	VERB
cblr-13858	352	49	back	back	ADV
cblr-13858	352	50	to	to	ADP
cblr-13858	352	51	robin	robin	PROPN
cblr-13858	352	52	's	's	PART
cblr-13858	352	53	place	place	NOUN
cblr-13858	352	54	afterwards	afterwards	ADV
cblr-13858	352	55	and	and	CCONJ
cblr-13858	352	56	his	his	PRON
cblr-13858	352	57	wife	wife	NOUN
cblr-13858	352	58	will	will	AUX
cblr-13858	352	59	make	make	VERB
cblr-13858	352	60	you	you	PRON
cblr-13858	352	61	raw	raw	ADJ
cblr-13858	352	62	lasagna	lasagna	PROPN
cblr-13858	352	63	"	"	PUNCT
cblr-13858	352	64	both	both	CCONJ
cblr-13858	352	65	kickstarter	kickstarter	PROPN
cblr-13858	352	66	and	and	CCONJ
cblr-13858	352	67	indiegogo	indiegogo	PROPN
cblr-13858	352	68	take	take	VERB
cblr-13858	352	69	a	a	DET
cblr-13858	352	70	cut	cut	NOUN
cblr-13858	352	71	of	of	ADP
cblr-13858	352	72	the	the	DET
cblr-13858	352	73	money	money	NOUN
cblr-13858	352	74	collected	collect	VERB
cblr-13858	352	75	.	.	PUNCT
cblr-13858	353	1	kickstarter	kickstarter	PROPN
cblr-13858	353	2	uses	use	VERB
cblr-13858	353	3	an	an	DET
cblr-13858	353	4	"	"	PUNCT
cblr-13858	353	5	all	all	PRON
cblr-13858	353	6	-	-	PUNCT
cblr-13858	353	7	or	or	CCONJ
cblr-13858	353	8	-	-	PUNCT
cblr-13858	353	9	nothing	nothing	PRON
cblr-13858	353	10	"	"	PUNCT
cblr-13858	353	11	funding	funding	NOUN
cblr-13858	353	12	model	model	NOUN
cblr-13858	353	13	and	and	CCONJ
cblr-13858	353	14	does	do	AUX
cblr-13858	353	15	not	not	PART
cblr-13858	353	16	allow	allow	VERB
cblr-13858	353	17	projects	project	NOUN
cblr-13858	353	18	to	to	PART
cblr-13858	353	19	be	be	AUX
cblr-13858	353	20	funded	fund	VERB
cblr-13858	353	21	unless	unless	SCONJ
cblr-13858	353	22	they	they	PRON
cblr-13858	353	23	reach	reach	VERB
cblr-13858	353	24	their	their	PRON
cblr-13858	353	25	stated	state	VERB
cblr-13858	353	26	funding	funding	NOUN
cblr-13858	353	27	goal	goal	NOUN
cblr-13858	353	28	.	.	PUNCT
cblr-13858	353	29	"	"	PUNCT
cblr-13858	354	1	if	if	SCONJ
cblr-13858	354	2	a	a	DET
cblr-13858	354	3	project	project	NOUN
cblr-13858	354	4	reaches	reach	VERB
cblr-13858	354	5	its	its	PRON
cblr-13858	354	6	funding	funding	NOUN
cblr-13858	354	7	goal	goal	NOUN
cblr-13858	354	8	,	,	PUNCT
cblr-13858	354	9	kickstarter	kickstarter	NOUN
cblr-13858	354	10	collects	collect	VERB
cblr-13858	354	11	a	a	DET
cblr-13858	354	12	5	5	NUM
cblr-13858	354	13	%	%	NOUN
cblr-13858	354	14	fee	fee	NOUN
cblr-13858	354	15	;	;	PUNCT
cblr-13858	354	16	6	6	NUM
cblr-13858	354	17	if	if	SCONJ
cblr-13858	354	18	not	not	PART
cblr-13858	354	19	,	,	PUNCT
cblr-13858	354	20	kickstarter	kickstarter	PROPN
cblr-13858	354	21	does	do	AUX
cblr-13858	354	22	not	not	PART
cblr-13858	354	23	charge	charge	VERB
cblr-13858	354	24	a	a	DET
cblr-13858	354	25	fee.66	fee.66	NOUN
cblr-13858	354	26	indiegogo	indiegogo	NOUN
cblr-13858	354	27	allows	allow	VERB
cblr-13858	354	28	project	project	NOUN
cblr-13858	354	29	creators	creator	NOUN
cblr-13858	354	30	to	to	PART
cblr-13858	354	31	draw	draw	VERB
cblr-13858	354	32	on	on	ADP
cblr-13858	354	33	pledged	pledge	VERB
cblr-13858	354	34	funds	fund	NOUN
cblr-13858	354	35	immediately	immediately	ADV
cblr-13858	354	36	,	,	PUNCT
cblr-13858	354	37	whether	whether	SCONJ
cblr-13858	354	38	or	or	CCONJ
cblr-13858	354	39	not	not	PART
cblr-13858	354	40	the	the	DET
cblr-13858	354	41	funding	funding	NOUN
cblr-13858	354	42	goal	goal	NOUN
cblr-13858	354	43	is	be	AUX
cblr-13858	354	44	reached	reach	VERB
cblr-13858	354	45	,	,	PUNCT
cblr-13858	354	46	67	67	NUM
cblr-13858	354	47	but	but	CCONJ
cblr-13858	354	48	the	the	DET
cblr-13858	354	49	fee	fee	NOUN
cblr-13858	354	50	depends	depend	VERB
cblr-13858	354	51	on	on	ADP
cblr-13858	354	52	whether	whether	SCONJ
cblr-13858	354	53	the	the	DET
cblr-13858	354	54	funding	funding	NOUN
cblr-13858	354	55	"	"	PUNCT
cblr-13858	354	56	frequently	frequently	ADV
cblr-13858	354	57	asked	ask	VERB
cblr-13858	354	58	questions	question	NOUN
cblr-13858	354	59	:	:	PUNCT
cblr-13858	354	60	all	all	DET
cblr-13858	354	61	or	or	CCONJ
cblr-13858	354	62	nothing	nothing	PRON
cblr-13858	354	63	funding	funding	NOUN
cblr-13858	354	64	,	,	PUNCT
cblr-13858	354	65	kickstarter	kickstarter	PROPN
cblr-13858	354	66	,	,	PUNCT
cblr-13858	354	67	supra	supra	PROPN
cblr-13858	354	68	note	note	NOUN
cblr-13858	354	69	29	29	NUM
cblr-13858	354	70	.	.	NOUN
cblr-13858	354	71	6	6	NUM
cblr-13858	354	72	frequently	frequently	ADV
cblr-13858	354	73	asked	ask	VERB
cblr-13858	354	74	questions	question	NOUN
cblr-13858	354	75	:	:	PUNCT
cblr-13858	354	76	creating	create	VERB
cblr-13858	354	77	a	a	DET
cblr-13858	354	78	project	project	NOUN
cblr-13858	354	79	,	,	PUNCT
cblr-13858	354	80	kickstarter	kickstarter	PROPN
cblr-13858	354	81	,	,	PUNCT
cblr-13858	354	82	supra	supra	PROPN
cblr-13858	354	83	note	note	PROPN
cblr-13858	354	84	29	29	NUM
cblr-13858	354	85	.	.	NUM
cblr-13858	354	86	6	6	NUM
cblr-13858	355	1	i	i	NOUN
cblr-13858	355	2	d.	d.	NOUN
cblr-13858	355	3	6	6	NUM
cblr-13858	355	4	frequently	frequently	ADV
cblr-13858	355	5	asked	ask	VERB
cblr-13858	355	6	questions	question	NOUN
cblr-13858	355	7	,	,	PUNCT
cblr-13858	355	8	indiegogo	indiegogo	NOUN
cblr-13858	355	9	,	,	PUNCT
cblr-13858	355	10	supra	supra	PROPN
cblr-13858	355	11	note	note	NOUN
cblr-13858	355	12	44	44	NUM
cblr-13858	355	13	.	.	PUNCT
cblr-13858	356	1	however	however	ADV
cblr-13858	356	2	,	,	PUNCT
cblr-13858	356	3	this	this	PRON
cblr-13858	356	4	requires	require	VERB
cblr-13858	356	5	that	that	SCONJ
cblr-13858	356	6	the	the	DET
cblr-13858	356	7	entrepreneur	entrepreneur	NOUN
cblr-13858	356	8	elect	elect	VERB
cblr-13858	356	9	the	the	DET
cblr-13858	356	10	web	web	NOUN
cblr-13858	356	11	site	site	NOUN
cblr-13858	356	12	's	's	PART
cblr-13858	356	13	"	"	PUNCT
cblr-13858	356	14	flexible	flexible	ADJ
cblr-13858	356	15	funding	funding	NOUN
cblr-13858	356	16	"	"	PUNCT
cblr-13858	356	17	option	option	NOUN
cblr-13858	356	18	.	.	PUNCT
cblr-13858	357	1	if	if	SCONJ
cblr-13858	357	2	an	an	DET
cblr-13858	357	3	entrepreneur	entrepreneur	NOUN
cblr-13858	357	4	chooses	choose	VERB
cblr-13858	357	5	the	the	DET
cblr-13858	357	6	"	"	PUNCT
cblr-13858	357	7	fixed	fix	VERB
cblr-13858	357	8	funding	funding	NOUN
cblr-13858	357	9	"	"	PUNCT
cblr-13858	357	10	alternative	alternative	NOUN
cblr-13858	357	11	and	and	CCONJ
cblr-13858	357	12	fails	fail	VERB
cblr-13858	357	13	to	to	PART
cblr-13858	357	14	reach	reach	VERB
cblr-13858	357	15	her	her	PRON
cblr-13858	357	16	fundraising	fundraising	NOUN
cblr-13858	357	17	goal	goal	NOUN
cblr-13858	357	18	,	,	PUNCT
cblr-13858	357	19	the	the	DET
cblr-13858	357	20	web	web	NOUN
cblr-13858	357	21	site	site	NOUN
cblr-13858	357	22	refunds	refund	NOUN
cblr-13858	357	23	all	all	PRON
cblr-13858	357	24	pledged	pledge	VERB
cblr-13858	357	25	contributions	contribution	NOUN
cblr-13858	357	26	.	.	PUNCT
cblr-13858	358	1	no	no	INTJ
cblr-13858	358	2	.	.	NOUN
cblr-13858	359	1	1	1	NUM
cblr-13858	359	2	:	:	SYM
cblr-13858	359	3	1	1	NUM
cblr-13858	359	4	]	]	SYM
cblr-13858	359	5	19	19	NUM
cblr-13858	359	6	columbia	columbia	PROPN
cblr-13858	359	7	business	business	PROPN
cblr-13858	359	8	la	la	PROPN
cblr-13858	359	9	w	w	PROPN
cblr-13858	359	10	re	re	X
cblr-13858	359	11	view	view	NOUN
cblr-13858	359	12	goal	goal	NOUN
cblr-13858	359	13	is	be	AUX
cblr-13858	359	14	met	meet	VERB
cblr-13858	359	15	.	.	PUNCT
cblr-13858	360	1	indiegogo	indiegogo	PROPN
cblr-13858	360	2	charges	charge	VERB
cblr-13858	360	3	a	a	DET
cblr-13858	360	4	4	4	NUM
cblr-13858	360	5	%	%	NOUN
cblr-13858	360	6	fee	fee	NOUN
cblr-13858	360	7	if	if	SCONJ
cblr-13858	360	8	the	the	DET
cblr-13858	360	9	funding	funding	NOUN
cblr-13858	360	10	goal	goal	NOUN
cblr-13858	360	11	is	be	AUX
cblr-13858	360	12	reached"6	reached"6	PROPN
cblr-13858	360	13	and	and	CCONJ
cblr-13858	360	14	a	a	DET
cblr-13858	360	15	9	9	NUM
cblr-13858	360	16	%	%	NOUN
cblr-13858	360	17	fee	fee	NOUN
cblr-13858	360	18	if	if	SCONJ
cblr-13858	360	19	it	it	PRON
cblr-13858	360	20	is	be	AUX
cblr-13858	360	21	not	not	PART
cblr-13858	360	22	.	.	PUNCT
cblr-13858	360	23	"	"	PUNCT
cblr-13858	361	1	3	3	X
cblr-13858	361	2	.	.	X
cblr-13858	361	3	lending	lending	NOUN
cblr-13858	361	4	sites	site	NOUN
cblr-13858	361	5	(	(	PUNCT
cblr-13858	361	6	peer	peer	NOUN
cblr-13858	361	7	-	-	PUNCT
cblr-13858	361	8	to	to	ADP
cblr-13858	361	9	-	-	PUNCT
cblr-13858	361	10	peer	peer	NOUN
cblr-13858	361	11	lending	lending	NOUN
cblr-13858	361	12	)	)	PUNCT
cblr-13858	361	13	the	the	DET
cblr-13858	361	14	lending	lending	NOUN
cblr-13858	361	15	model	model	NOUN
cblr-13858	361	16	of	of	ADP
cblr-13858	361	17	crowdfunding	crowdfunding	NOUN
cblr-13858	361	18	is	be	AUX
cblr-13858	361	19	often	often	ADV
cblr-13858	361	20	called	call	VERB
cblr-13858	361	21	peer	peer	NOUN
cblr-13858	361	22	-	-	PUNCT
cblr-13858	361	23	topeer	topeer	NOUN
cblr-13858	361	24	lending	lending	NOUN
cblr-13858	361	25	.	.	PUNCT
cblr-13858	362	1	peer	peer	NOUN
cblr-13858	362	2	-	-	PUNCT
cblr-13858	362	3	to	to	ADP
cblr-13858	362	4	-	-	PUNCT
cblr-13858	362	5	peer	peer	NOUN
cblr-13858	362	6	lending	lending	NOUN
cblr-13858	362	7	involves	involve	VERB
cblr-13858	362	8	loans	loan	NOUN
cblr-13858	362	9	.	.	PUNCT
cblr-13858	363	1	contributors	contributor	NOUN
cblr-13858	363	2	provide	provide	VERB
cblr-13858	363	3	funds	fund	NOUN
cblr-13858	363	4	on	on	ADP
cblr-13858	363	5	a	a	DET
cblr-13858	363	6	temporary	temporary	ADJ
cblr-13858	363	7	basis	basis	NOUN
cblr-13858	363	8	,	,	PUNCT
cblr-13858	363	9	expecting	expect	VERB
cblr-13858	363	10	repayment	repayment	NOUN
cblr-13858	363	11	.	.	PUNCT
cblr-13858	364	1	in	in	ADP
cblr-13858	364	2	some	some	DET
cblr-13858	364	3	cases	case	NOUN
cblr-13858	364	4	,	,	PUNCT
cblr-13858	364	5	investors	investor	NOUN
cblr-13858	364	6	are	be	AUX
cblr-13858	364	7	promised	promise	VERB
cblr-13858	364	8	interest	interest	NOUN
cblr-13858	364	9	on	on	ADP
cblr-13858	364	10	the	the	DET
cblr-13858	364	11	funds	fund	NOUN
cblr-13858	364	12	they	they	PRON
cblr-13858	364	13	loan	loan	VERB
cblr-13858	364	14	.	.	PUNCT
cblr-13858	365	1	in	in	ADP
cblr-13858	365	2	other	other	ADJ
cblr-13858	365	3	cases	case	NOUN
cblr-13858	365	4	,	,	PUNCT
cblr-13858	365	5	they	they	PRON
cblr-13858	365	6	are	be	AUX
cblr-13858	365	7	only	only	ADV
cblr-13858	365	8	entitled	entitle	VERB
cblr-13858	365	9	to	to	PART
cblr-13858	365	10	receive	receive	VERB
cblr-13858	365	11	the	the	DET
cblr-13858	365	12	return	return	NOUN
cblr-13858	365	13	of	of	ADP
cblr-13858	365	14	their	their	PRON
cblr-13858	365	15	principal	principal	NOUN
cblr-13858	365	16	.	.	PUNCT
cblr-13858	366	1	a.	a.	NOUN
cblr-13858	366	2	sites	site	NOUN
cblr-13858	366	3	not	not	PART
cblr-13858	366	4	offering	offer	VERB
cblr-13858	366	5	interest	interest	NOUN
cblr-13858	366	6	kiva	kiva	PROPN
cblr-13858	366	7	is	be	AUX
cblr-13858	366	8	,	,	PUNCT
cblr-13858	366	9	without	without	ADP
cblr-13858	366	10	a	a	DET
cblr-13858	366	11	doubt	doubt	NOUN
cblr-13858	366	12	,	,	PUNCT
cblr-13858	366	13	the	the	DET
cblr-13858	366	14	leading	lead	VERB
cblr-13858	366	15	crowdfunding	crowdfunding	NOUN
cblr-13858	366	16	site	site	NOUN
cblr-13858	366	17	using	use	VERB
cblr-13858	366	18	the	the	DET
cblr-13858	366	19	lending	lending	NOUN
cblr-13858	366	20	model	model	NOUN
cblr-13858	366	21	,	,	PUNCT
cblr-13858	366	22	0	0	NUM
cblr-13858	366	23	and	and	CCONJ
cblr-13858	366	24	probably	probably	ADV
cblr-13858	366	25	the	the	DET
cblr-13858	366	26	leading	lead	VERB
cblr-13858	366	27	crowdfunding	crowdfunding	NOUN
cblr-13858	366	28	site	site	NOUN
cblr-13858	366	29	of	of	ADP
cblr-13858	366	30	any	any	DET
cblr-13858	366	31	type	type	NOUN
cblr-13858	366	32	.	.	PUNCT
cblr-13858	367	1	one	one	NUM
cblr-13858	367	2	source	source	NOUN
cblr-13858	367	3	calls	call	VERB
cblr-13858	367	4	kiva	kiva	PROPN
cblr-13858	367	5	"	"	PUNCT
cblr-13858	367	6	the	the	DET
cblr-13858	367	7	hottest	hot	ADJ
cblr-13858	367	8	nonprofit	nonprofit	NOUN
cblr-13858	367	9	on	on	ADP
cblr-13858	367	10	the	the	DET
cblr-13858	367	11	planet	planet	NOUN
cblr-13858	367	12	.	.	PUNCT
cblr-13858	368	1	"	"	PUNCT
cblr-13858	368	2	'	'	PUNCT
cblr-13858	368	3	kiva	kiva	NOUN
cblr-13858	368	4	does	do	AUX
cblr-13858	368	5	not	not	PART
cblr-13858	368	6	lend	lend	VERB
cblr-13858	368	7	directly	directly	ADV
cblr-13858	368	8	to	to	ADP
cblr-13858	368	9	entrepreneurs	entrepreneur	NOUN
cblr-13858	368	10	,	,	PUNCT
cblr-13858	368	11	but	but	CCONJ
cblr-13858	368	12	instead	instead	ADV
cblr-13858	368	13	partners	partner	NOUN
cblr-13858	368	14	with	with	ADP
cblr-13858	368	15	microfinance	microfinance	NOUN
cblr-13858	368	16	lenders	lender	NOUN
cblr-13858	368	17	around	around	ADP
cblr-13858	368	18	the	the	DET
cblr-13858	368	19	world	world	NOUN
cblr-13858	368	20	,	,	PUNCT
cblr-13858	368	21	which	which	PRON
cblr-13858	368	22	kiva	kiva	PROPN
cblr-13858	368	23	calls	call	VERB
cblr-13858	368	24	"	"	PUNCT
cblr-13858	368	25	field	field	NOUN
cblr-13858	368	26	partners	partner	NOUN
cblr-13858	368	27	.	.	PUNCT
cblr-13858	369	1	"7	"7	ADJ
cblr-13858	369	2	2	2	NUM
cblr-13858	370	1	the	the	DET
cblr-13858	370	2	local	local	ADJ
cblr-13858	370	3	institutions	institution	NOUN
cblr-13858	370	4	make	make	VERB
cblr-13858	370	5	'	'	PUNCT
cblr-13858	370	6	frequently	frequently	ADV
cblr-13858	370	7	asked	ask	VERB
cblr-13858	370	8	questions	question	NOUN
cblr-13858	370	9	:	:	PUNCT
cblr-13858	370	10	general	general	ADJ
cblr-13858	370	11	faqs	faq	NOUN
cblr-13858	370	12	,	,	PUNCT
cblr-13858	370	13	indiegogo	indiegogo	NOUN
cblr-13858	370	14	,	,	PUNCT
cblr-13858	370	15	supra	supra	PROPN
cblr-13858	370	16	note	note	NOUN
cblr-13858	370	17	44	44	NUM
cblr-13858	370	18	.	.	NOUN
cblr-13858	370	19	6	6	NUM
cblr-13858	370	20	frequently	frequently	ADV
cblr-13858	370	21	asked	ask	VERB
cblr-13858	370	22	questions	question	NOUN
cblr-13858	370	23	:	:	PUNCT
cblr-13858	370	24	creating	create	VERB
cblr-13858	370	25	a	a	DET
cblr-13858	370	26	campaign	campaign	NOUN
cblr-13858	370	27	,	,	PUNCT
cblr-13858	370	28	indiegogo	indiegogo	NOUN
cblr-13858	370	29	,	,	PUNCT
cblr-13858	370	30	supra	supra	PROPN
cblr-13858	370	31	note	note	NOUN
cblr-13858	370	32	44	44	NUM
cblr-13858	370	33	.	.	PUNCT
cblr-13858	371	1	however	however	ADV
cblr-13858	371	2	,	,	PUNCT
cblr-13858	371	3	an	an	DET
cblr-13858	371	4	entrepreneur	entrepreneur	NOUN
cblr-13858	371	5	who	who	PRON
cblr-13858	371	6	elects	elect	VERB
cblr-13858	371	7	the	the	DET
cblr-13858	371	8	web	web	NOUN
cblr-13858	371	9	site	site	NOUN
cblr-13858	371	10	's	's	PART
cblr-13858	371	11	fixed	fix	VERB
cblr-13858	371	12	funding	funding	NOUN
cblr-13858	371	13	option	option	NOUN
cblr-13858	371	14	and	and	CCONJ
cblr-13858	371	15	fails	fail	VERB
cblr-13858	371	16	to	to	PART
cblr-13858	371	17	reach	reach	VERB
cblr-13858	371	18	the	the	DET
cblr-13858	371	19	funding	funding	NOUN
cblr-13858	371	20	goal	goal	NOUN
cblr-13858	371	21	is	be	AUX
cblr-13858	371	22	charged	charge	VERB
cblr-13858	371	23	no	no	DET
cblr-13858	371	24	fee	fee	NOUN
cblr-13858	371	25	,	,	PUNCT
cblr-13858	371	26	and	and	CCONJ
cblr-13858	371	27	all	all	PRON
cblr-13858	371	28	pledged	pledge	VERB
cblr-13858	371	29	contributions	contribution	NOUN
cblr-13858	371	30	are	be	AUX
cblr-13858	371	31	refunded	refunded	ADJ
cblr-13858	371	32	to	to	ADP
cblr-13858	371	33	investors	investor	NOUN
cblr-13858	371	34	.	.	PUNCT
cblr-13858	372	1	"	"	PUNCT
cblr-13858	372	2	o	o	NOUN
cblr-13858	372	3	see	see	PROPN
cblr-13858	372	4	kiva	kiva	PROPN
cblr-13858	372	5	,	,	PUNCT
cblr-13858	372	6	http://www.kiva.org/	http://www.kiva.org/	ADV
cblr-13858	372	7	(	(	PUNCT
cblr-13858	372	8	last	last	ADJ
cblr-13858	372	9	visited	visit	VERB
cblr-13858	372	10	mar	mar	PROPN
cblr-13858	372	11	.	.	PROPN
cblr-13858	372	12	5	5	NUM
cblr-13858	372	13	,	,	PUNCT
cblr-13858	372	14	2012	2012	NUM
cblr-13858	372	15	)	)	PUNCT
cblr-13858	372	16	.	.	PUNCT
cblr-13858	373	1	another	another	DET
cblr-13858	373	2	example	example	NOUN
cblr-13858	373	3	of	of	ADP
cblr-13858	373	4	a	a	DET
cblr-13858	373	5	lending	lending	NOUN
cblr-13858	373	6	site	site	NOUN
cblr-13858	373	7	that	that	PRON
cblr-13858	373	8	does	do	AUX
cblr-13858	373	9	not	not	PART
cblr-13858	373	10	charge	charge	VERB
cblr-13858	373	11	interest	interest	NOUN
cblr-13858	373	12	is	be	AUX
cblr-13858	373	13	inuka	inuka	NOUN
cblr-13858	373	14	,	,	PUNCT
cblr-13858	373	15	which	which	PRON
cblr-13858	373	16	is	be	AUX
cblr-13858	373	17	limited	limit	VERB
cblr-13858	373	18	to	to	ADP
cblr-13858	373	19	requests	request	NOUN
cblr-13858	373	20	from	from	ADP
cblr-13858	373	21	female	female	ADJ
cblr-13858	373	22	entrepreneurs	entrepreneur	NOUN
cblr-13858	373	23	.	.	PUNCT
cblr-13858	374	1	see	see	VERB
cblr-13858	374	2	introducing	introduce	VERB
cblr-13858	374	3	inuka	inuka	NOUN
cblr-13858	374	4	,	,	PUNCT
cblr-13858	374	5	inuka	inuka	NOUN
cblr-13858	374	6	,	,	PUNCT
cblr-13858	374	7	supra	supra	PROPN
cblr-13858	374	8	note	note	NOUN
cblr-13858	374	9	31	31	NUM
cblr-13858	374	10	.	.	PUNCT
cblr-13858	375	1	71	71	NUM
cblr-13858	375	2	jeffrey	jeffrey	PROPN
cblr-13858	375	3	m.	m.	PROPN
cblr-13858	375	4	o'brien	o'brien	PROPN
cblr-13858	375	5	,	,	PUNCT
cblr-13858	375	6	the	the	DET
cblr-13858	375	7	only	only	ADJ
cblr-13858	375	8	nonprofit	nonprofit	NOUN
cblr-13858	375	9	that	that	PRON
cblr-13858	375	10	matters	matter	VERB
cblr-13858	375	11	,	,	PUNCT
cblr-13858	375	12	cnnmoney	cnnmoney	PROPN
cblr-13858	375	13	(	(	PUNCT
cblr-13858	375	14	feb	feb	PROPN
cblr-13858	375	15	.	.	PROPN
cblr-13858	375	16	26	26	NUM
cblr-13858	375	17	,	,	PUNCT
cblr-13858	375	18	2008	2008	NUM
cblr-13858	375	19	,	,	PUNCT
cblr-13858	375	20	11:31	11:31	NUM
cblr-13858	375	21	am	am	NOUN
cblr-13858	375	22	)	)	PUNCT
cblr-13858	375	23	,	,	PUNCT
cblr-13858	375	24	http://money.cnn.com/magazines/fortune/for	http://money.cnn.com/magazines/fortune/for	ADP
cblr-13858	375	25	tunearchive/2008/03/03/103796533	tunearchive/2008/03/03/103796533	PRON
cblr-13858	375	26	/	/	SYM
cblr-13858	375	27	index.htm?postversion=2008022611	index.htm?postversion=2008022611	ADJ
cblr-13858	375	28	.	.	PUNCT
cblr-13858	376	1	kiva	kiva	PROPN
cblr-13858	376	2	was	be	AUX
cblr-13858	376	3	originally	originally	ADV
cblr-13858	376	4	not	not	PART
cblr-13858	376	5	open	open	ADJ
cblr-13858	376	6	to	to	ADP
cblr-13858	376	7	entrepreneurs	entrepreneur	NOUN
cblr-13858	376	8	in	in	ADP
cblr-13858	376	9	the	the	DET
cblr-13858	376	10	united	united	PROPN
cblr-13858	376	11	states	states	PROPN
cblr-13858	376	12	.	.	PUNCT
cblr-13858	377	1	that	that	DET
cblr-13858	377	2	policy	policy	NOUN
cblr-13858	377	3	was	be	AUX
cblr-13858	377	4	changed	change	VERB
cblr-13858	377	5	in	in	ADP
cblr-13858	377	6	2009	2009	NUM
cblr-13858	377	7	.	.	PUNCT
cblr-13858	378	1	see	see	VERB
cblr-13858	378	2	tamara	tamara	PROPN
cblr-13858	378	3	schweitzer	schweitzer	PROPN
cblr-13858	378	4	,	,	PUNCT
cblr-13858	378	5	microloans	microloan	NOUN
cblr-13858	378	6	for	for	ADP
cblr-13858	378	7	all	all	PRON
cblr-13858	378	8	?	?	PROPN
cblr-13858	378	9	,	,	PUNCT
cblr-13858	378	10	inc	inc	PROPN
cblr-13858	378	11	.	.	PROPN
cblr-13858	378	12	(	(	PUNCT
cblr-13858	378	13	june	june	PROPN
cblr-13858	378	14	10	10	NUM
cblr-13858	378	15	,	,	PUNCT
cblr-13858	378	16	2009	2009	NUM
cblr-13858	378	17	)	)	PUNCT
cblr-13858	378	18	,	,	PUNCT
cblr-13858	378	19	http://www.inc.com/the-kiva-connection/2009	http://www.inc.com/the-kiva-connection/2009	NOUN
cblr-13858	378	20	/06	/06	SYM
cblr-13858	378	21	/	/	SYM
cblr-13858	378	22	microloansforall.html	microloansforall.html	PROPN
cblr-13858	378	23	;	;	PUNCT
cblr-13858	378	24	michael	michael	PROPN
cblr-13858	378	25	liedtke	liedtke	PROPN
cblr-13858	378	26	,	,	PUNCT
cblr-13858	378	27	kiva	kiva	NOUN
cblr-13858	378	28	to	to	PART
cblr-13858	378	29	feed	feed	VERB
cblr-13858	378	30	cash	cash	NOUN
cblr-13858	378	31	-	-	PUNCT
cblr-13858	378	32	starved	starve	VERB
cblr-13858	378	33	us	we	PRON
cblr-13858	378	34	small	small	ADJ
cblr-13858	378	35	businesses	business	NOUN
cblr-13858	378	36	,	,	PUNCT
cblr-13858	378	37	usa	usa	PROPN
cblr-13858	378	38	today	today	NOUN
cblr-13858	378	39	(	(	PUNCT
cblr-13858	378	40	june	june	PROPN
cblr-13858	378	41	10	10	NUM
cblr-13858	378	42	,	,	PUNCT
cblr-13858	378	43	2009	2009	NUM
cblr-13858	378	44	,	,	PUNCT
cblr-13858	378	45	9:51	9:51	NUM
cblr-13858	378	46	am	am	NOUN
cblr-13858	378	47	)	)	PUNCT
cblr-13858	378	48	,	,	PUNCT
cblr-13858	378	49	http://www.usatoday.com/tech/hotsites/2009-06-10-kivan.htm	http://www.usatoday.com/tech/hotsites/2009-06-10-kivan.htm	PROPN
cblr-13858	378	50	.	.	PUNCT
cblr-13858	378	51	72	72	NUM
cblr-13858	379	1	how	how	SCONJ
cblr-13858	379	2	kiva	kiva	PROPN
cblr-13858	379	3	works	works	PROPN
cblr-13858	379	4	,	,	PUNCT
cblr-13858	379	5	kiva	kiva	PROPN
cblr-13858	379	6	,	,	PUNCT
cblr-13858	379	7	http://www.kiva.orglabout/how	http://www.kiva.orglabout/how	PROPN
cblr-13858	379	8	(	(	PUNCT
cblr-13858	379	9	last	last	ADJ
cblr-13858	379	10	visited	visit	VERB
cblr-13858	379	11	mar	mar	PROPN
cblr-13858	379	12	.	.	PROPN
cblr-13858	379	13	5	5	NUM
cblr-13858	379	14	,	,	PUNCT
cblr-13858	379	15	2012	2012	NUM
cblr-13858	379	16	)	)	PUNCT
cblr-13858	379	17	.	.	PUNCT
cblr-13858	380	1	20	20	NUM
cblr-13858	381	1	[	[	NOUN
cblr-13858	381	2	vol	vol	NOUN
cblr-13858	381	3	.	.	NOUN
cblr-13858	381	4	20	20	NUM
cblr-13858	381	5	12	12	NUM
cblr-13858	381	6	loans	loan	NOUN
cblr-13858	381	7	to	to	ADP
cblr-13858	381	8	entrepreneurs	entrepreneur	NOUN
cblr-13858	381	9	,	,	PUNCT
cblr-13858	381	10	often	often	ADV
cblr-13858	381	11	before	before	SCONJ
cblr-13858	381	12	the	the	DET
cblr-13858	381	13	loan	loan	NOUN
cblr-13858	381	14	request	request	NOUN
cblr-13858	381	15	is	be	AUX
cblr-13858	381	16	even	even	ADV
cblr-13858	381	17	posted	post	VERB
cblr-13858	381	18	on	on	ADP
cblr-13858	381	19	kiva.7	kiva.7	NOUN
cblr-13858	381	20	"	"	PUNCT
cblr-13858	381	21	each	each	DET
cblr-13858	381	22	entrepreneur	entrepreneur	NOUN
cblr-13858	381	23	's	's	PART
cblr-13858	381	24	loan	loan	NOUN
cblr-13858	381	25	request	request	NOUN
cblr-13858	381	26	is	be	AUX
cblr-13858	381	27	posted	post	VERB
cblr-13858	381	28	on	on	ADP
cblr-13858	381	29	the	the	DET
cblr-13858	381	30	kiva	kiva	PROPN
cblr-13858	381	31	web	web	NOUN
cblr-13858	381	32	site	site	NOUN
cblr-13858	381	33	,	,	PUNCT
cblr-13858	381	34	where	where	SCONJ
cblr-13858	381	35	potential	potential	ADJ
cblr-13858	381	36	lenders	lender	NOUN
cblr-13858	381	37	can	can	AUX
cblr-13858	381	38	browse	browse	VERB
cblr-13858	381	39	the	the	DET
cblr-13858	381	40	requests	request	NOUN
cblr-13858	381	41	and	and	CCONJ
cblr-13858	381	42	fund	fund	VERB
cblr-13858	381	43	each	each	DET
cblr-13858	381	44	one	one	NUM
cblr-13858	381	45	in	in	ADP
cblr-13858	381	46	any	any	DET
cblr-13858	381	47	amount	amount	NOUN
cblr-13858	381	48	from	from	ADP
cblr-13858	381	49	$	$	SYM
cblr-13858	381	50	25	25	NUM
cblr-13858	381	51	to	to	ADP
cblr-13858	381	52	the	the	DET
cblr-13858	381	53	full	full	ADJ
cblr-13858	381	54	amount	amount	NOUN
cblr-13858	381	55	of	of	ADP
cblr-13858	381	56	the	the	DET
cblr-13858	381	57	loan.7	loan.7	PROPN
cblr-13858	381	58	'	'	PART
cblr-13858	381	59	kiva	kiva	NOUN
cblr-13858	381	60	collects	collect	VERB
cblr-13858	381	61	and	and	CCONJ
cblr-13858	381	62	distributes	distribute	VERB
cblr-13858	381	63	this	this	DET
cblr-13858	381	64	money	money	NOUN
cblr-13858	381	65	back	back	ADV
cblr-13858	381	66	to	to	ADP
cblr-13858	381	67	the	the	DET
cblr-13858	381	68	field	field	NOUN
cblr-13858	381	69	partners	partner	NOUN
cblr-13858	381	70	and	and	CCONJ
cblr-13858	381	71	credits	credit	NOUN
cblr-13858	381	72	lenders	lender	NOUN
cblr-13858	381	73	with	with	ADP
cblr-13858	381	74	any	any	DET
cblr-13858	381	75	repayments	repayment	NOUN
cblr-13858	381	76	the	the	DET
cblr-13858	381	77	entrepreneurs	entrepreneur	NOUN
cblr-13858	381	78	make	make	VERB
cblr-13858	381	79	.	.	PUNCT
cblr-13858	382	1	5	5	NUM
cblr-13858	382	2	lenders	lender	NOUN
cblr-13858	382	3	on	on	ADP
cblr-13858	382	4	the	the	DET
cblr-13858	382	5	kiva	kiva	PROPN
cblr-13858	382	6	site	site	NOUN
cblr-13858	382	7	only	only	ADV
cblr-13858	382	8	receive	receive	VERB
cblr-13858	382	9	their	their	PRON
cblr-13858	382	10	principal	principal	NOUN
cblr-13858	382	11	back	back	ADV
cblr-13858	382	12	;	;	PUNCT
cblr-13858	382	13	the	the	DET
cblr-13858	382	14	field	field	NOUN
cblr-13858	382	15	partners	partner	NOUN
cblr-13858	382	16	use	use	VERB
cblr-13858	382	17	any	any	DET
cblr-13858	382	18	interest	interest	NOUN
cblr-13858	382	19	received	receive	VERB
cblr-13858	382	20	to	to	PART
cblr-13858	382	21	cover	cover	VERB
cblr-13858	382	22	their	their	PRON
cblr-13858	382	23	operating	operating	NOUN
cblr-13858	382	24	costs	cost	NOUN
cblr-13858	382	25	.	.	PUNCT
cblr-13858	382	26	"	"	PUNCT
cblr-13858	383	1	b.	b.	PROPN
cblr-13858	383	2	sites	site	NOUN
cblr-13858	383	3	offering	offer	VERB
cblr-13858	383	4	interest	interest	NOUN
cblr-13858	383	5	prosper	prosper	NOUN
cblr-13858	383	6	and	and	CCONJ
cblr-13858	383	7	lending	lending	NOUN
cblr-13858	383	8	club	club	NOUN
cblr-13858	383	9	are	be	AUX
cblr-13858	383	10	the	the	DET
cblr-13858	383	11	two	two	NUM
cblr-13858	383	12	leading	lead	VERB
cblr-13858	383	13	peer	peer	NOUN
cblr-13858	383	14	-	-	PUNCT
cblr-13858	383	15	topeer	topeer	NOUN
cblr-13858	383	16	lending	lending	NOUN
cblr-13858	383	17	sites	site	NOUN
cblr-13858	383	18	that	that	PRON
cblr-13858	383	19	offer	offer	VERB
cblr-13858	383	20	interest.7	interest.7	PROPN
cblr-13858	383	21	not	not	PART
cblr-13858	383	22	all	all	PRON
cblr-13858	383	23	of	of	ADP
cblr-13858	383	24	the	the	DET
cblr-13858	383	25	loans	loan	NOUN
cblr-13858	383	26	on	on	ADP
cblr-13858	383	27	these	these	DET
cblr-13858	383	28	sites	site	NOUN
cblr-13858	383	29	are	be	AUX
cblr-13858	383	30	for	for	ADP
cblr-13858	383	31	business	business	NOUN
cblr-13858	383	32	purposes	purpose	NOUN
cblr-13858	383	33	.	.	PUNCT
cblr-13858	384	1	most	most	ADJ
cblr-13858	384	2	of	of	ADP
cblr-13858	384	3	the	the	DET
cblr-13858	384	4	loans	loan	NOUN
cblr-13858	384	5	are	be	AUX
cblr-13858	384	6	for	for	ADP
cblr-13858	384	7	personal	personal	ADJ
cblr-13858	384	8	expenses	expense	NOUN
cblr-13858	384	9	,	,	PUNCT
cblr-13858	384	10	"	"	PUNCT
cblr-13858	384	11	'	'	PUNCT
cblr-13858	384	12	but	but	CCONJ
cblr-13858	384	13	the	the	DET
cblr-13858	384	14	amount	amount	NOUN
cblr-13858	384	15	of	of	ADP
cblr-13858	384	16	the	the	DET
cblr-13858	384	17	small	small	ADJ
cblr-13858	384	18	business	business	NOUN
cblr-13858	384	19	lending	lending	NOUN
cblr-13858	384	20	on	on	ADP
cblr-13858	384	21	these	these	DET
cblr-13858	384	22	sites	site	NOUN
cblr-13858	384	23	is	be	AUX
cblr-13858	384	24	increasing	increase	VERB
cblr-13858	384	25	.	.	PUNCT
cblr-13858	384	26	"	"	PUNCT
cblr-13858	385	1	i	i	PRON
cblr-13858	385	2	d.	d.	PROPN
cblr-13858	385	3	see	see	VERB
cblr-13858	385	4	also	also	ADV
cblr-13858	385	5	stephanie	stephanie	PROPN
cblr-13858	385	6	strom	strom	PROPN
cblr-13858	385	7	,	,	PUNCT
cblr-13858	385	8	confusion	confusion	NOUN
cblr-13858	385	9	on	on	ADP
cblr-13858	385	10	where	where	SCONJ
cblr-13858	385	11	money	money	NOUN
cblr-13858	385	12	lent	lend	VERB
cblr-13858	385	13	via	via	ADP
cblr-13858	385	14	kiva	kiva	PROPN
cblr-13858	385	15	goes	go	VERB
cblr-13858	385	16	,	,	PUNCT
cblr-13858	385	17	n.y	n.y	PROPN
cblr-13858	385	18	.	.	PROPN
cblr-13858	385	19	times	times	PROPN
cblr-13858	385	20	,	,	PUNCT
cblr-13858	385	21	nov	nov	PROPN
cblr-13858	385	22	.	.	PROPN
cblr-13858	385	23	8	8	NUM
cblr-13858	385	24	,	,	PUNCT
cblr-13858	385	25	2009	2009	NUM
cblr-13858	385	26	,	,	PUNCT
cblr-13858	385	27	at	at	ADP
cblr-13858	385	28	b6	b6	NOUN
cblr-13858	385	29	(	(	PUNCT
cblr-13858	385	30	noting	note	VERB
cblr-13858	385	31	that	that	SCONJ
cblr-13858	385	32	"	"	PUNCT
cblr-13858	385	33	[	[	X
cblr-13858	385	34	tihe	tihe	ADJ
cblr-13858	385	35	person	person	NOUN
cblr-13858	385	36	-	-	PUNCT
cblr-13858	385	37	toperson	toperson	NOUN
cblr-13858	385	38	donor	donor	NOUN
cblr-13858	385	39	-	-	PUNCT
cblr-13858	385	40	to	to	ADP
cblr-13858	385	41	-	-	PUNCT
cblr-13858	385	42	borrower	borrower	NOUN
cblr-13858	385	43	connections	connection	NOUN
cblr-13858	385	44	created	create	VERB
cblr-13858	385	45	by	by	ADP
cblr-13858	385	46	kiva	kiva	PROPN
cblr-13858	385	47	are	be	AUX
cblr-13858	385	48	partly	partly	ADV
cblr-13858	385	49	fictional	fictional	ADJ
cblr-13858	385	50	"	"	PUNCT
cblr-13858	385	51	and	and	CCONJ
cblr-13858	385	52	that	that	SCONJ
cblr-13858	385	53	"	"	PUNCT
cblr-13858	385	54	most	most	ADJ
cblr-13858	385	55	kiva	kiva	X
cblr-13858	385	56	users	user	NOUN
cblr-13858	385	57	do	do	AUX
cblr-13858	385	58	not	not	PART
cblr-13858	385	59	realize	realize	VERB
cblr-13858	385	60	this	this	PRON
cblr-13858	385	61	"	"	PUNCT
cblr-13858	385	62	)	)	PUNCT
cblr-13858	385	63	.	.	PUNCT
cblr-13858	385	64	"	"	PUNCT
cblr-13858	386	1	how	how	SCONJ
cblr-13858	386	2	kiva	kiva	PROPN
cblr-13858	386	3	works	works	PROPN
cblr-13858	386	4	,	,	PUNCT
cblr-13858	386	5	kiva	kiva	PROPN
cblr-13858	386	6	,	,	PUNCT
cblr-13858	386	7	supra	supra	PROPN
cblr-13858	386	8	note	note	PROPN
cblr-13858	386	9	72	72	NUM
cblr-13858	386	10	.	.	NOUN
cblr-13858	386	11	7	7	NUM
cblr-13858	387	1	i	i	PROPN
cblr-13858	387	2	d.	d.	PROPN
cblr-13858	387	3	76	76	NUM
cblr-13858	388	1	i	i	PRON
cblr-13858	388	2	d.	d.	PROPN
cblr-13858	388	3	7	7	NUM
cblr-13858	388	4	prosper	prosper	NOUN
cblr-13858	388	5	,	,	PUNCT
cblr-13858	388	6	http://www.prosper.com/	http://www.prosper.com/	NOUN
cblr-13858	388	7	(	(	PUNCT
cblr-13858	388	8	last	last	ADV
cblr-13858	388	9	visited	visit	VERB
cblr-13858	388	10	mar	mar	PROPN
cblr-13858	388	11	.	.	PROPN
cblr-13858	388	12	5	5	NUM
cblr-13858	388	13	,	,	PUNCT
cblr-13858	388	14	2012	2012	NUM
cblr-13858	388	15	)	)	PUNCT
cblr-13858	388	16	;	;	PUNCT
cblr-13858	388	17	lending	lending	NOUN
cblr-13858	388	18	club	club	NOUN
cblr-13858	388	19	,	,	PUNCT
cblr-13858	388	20	http://www.lendingclub.com/home.action	http://www.lendingclub.com/home.action	PROPN
cblr-13858	388	21	(	(	PUNCT
cblr-13858	388	22	last	last	ADV
cblr-13858	388	23	visited	visit	VERB
cblr-13858	388	24	mar	mar	PROPN
cblr-13858	388	25	.	.	PROPN
cblr-13858	388	26	5	5	NUM
cblr-13858	388	27	,	,	PUNCT
cblr-13858	388	28	2012	2012	NUM
cblr-13858	388	29	)	)	PUNCT
cblr-13858	388	30	.	.	PUNCT
cblr-13858	389	1	see	see	VERB
cblr-13858	389	2	also	also	ADV
cblr-13858	389	3	verstein	verstein	NOUN
cblr-13858	389	4	,	,	PUNCT
cblr-13858	389	5	supra	supra	PROPN
cblr-13858	389	6	note	note	NOUN
cblr-13858	389	7	12	12	NUM
cblr-13858	389	8	(	(	PUNCT
cblr-13858	389	9	prosper	prosper	VERB
cblr-13858	389	10	and	and	CCONJ
cblr-13858	389	11	lending	lending	NOUN
cblr-13858	389	12	club	club	NOUN
cblr-13858	389	13	"	"	PUNCT
cblr-13858	389	14	dominate	dominate	VERB
cblr-13858	389	15	.	.	PUNCT
cblr-13858	389	16	.	.	PUNCT
cblr-13858	389	17	.	.	PUNCT
cblr-13858	390	1	[	[	X
cblr-13858	390	2	peer	peer	NOUN
cblr-13858	390	3	-	-	PUNCT
cblr-13858	390	4	to	to	ADP
cblr-13858	390	5	-	-	PUNCT
cblr-13858	390	6	peer	peer	NOUN
cblr-13858	390	7	lending	lending	NOUN
cblr-13858	390	8	]	]	PUNCT
cblr-13858	390	9	.	.	PUNCT
cblr-13858	390	10	.	.	PUNCT
cblr-13858	390	11	.	.	PUNCT
cblr-13858	391	1	in	in	ADP
cblr-13858	391	2	america	america	PROPN
cblr-13858	391	3	.	.	PUNCT
cblr-13858	391	4	"	"	PUNCT
cblr-13858	391	5	)	)	PUNCT
cblr-13858	391	6	.	.	PUNCT
cblr-13858	392	1	other	other	ADJ
cblr-13858	392	2	lending	lending	NOUN
cblr-13858	392	3	sites	site	NOUN
cblr-13858	392	4	that	that	PRON
cblr-13858	392	5	offer	offer	VERB
cblr-13858	392	6	interest	interest	NOUN
cblr-13858	392	7	are	be	AUX
cblr-13858	392	8	microplace	microplace	NOUN
cblr-13858	392	9	and	and	CCONJ
cblr-13858	392	10	the	the	DET
cblr-13858	392	11	calvert	calvert	PROPN
cblr-13858	392	12	foundation	foundation	PROPN
cblr-13858	392	13	.	.	PUNCT
cblr-13858	393	1	see	see	VERB
cblr-13858	393	2	microplace	microplace	NOUN
cblr-13858	393	3	,	,	PUNCT
cblr-13858	393	4	http://www.microplace.com	http://www.microplace.com	X
cblr-13858	394	1	(	(	PUNCT
cblr-13858	394	2	last	last	ADV
cblr-13858	394	3	visited	visit	VERB
cblr-13858	394	4	mar	mar	PROPN
cblr-13858	394	5	.	.	PROPN
cblr-13858	394	6	5	5	NUM
cblr-13858	394	7	,	,	PUNCT
cblr-13858	394	8	2012	2012	NUM
cblr-13858	394	9	)	)	PUNCT
cblr-13858	394	10	;	;	PUNCT
cblr-13858	394	11	calvert	calvert	PROPN
cblr-13858	394	12	foundation	foundation	PROPN
cblr-13858	394	13	,	,	PUNCT
cblr-13858	394	14	http://www.calvertfoundation.org/	http://www.calvertfoundation.org/	NOUN
cblr-13858	394	15	(	(	PUNCT
cblr-13858	394	16	last	last	ADJ
cblr-13858	394	17	visited	visit	VERB
cblr-13858	394	18	mar	mar	PROPN
cblr-13858	394	19	.	.	PROPN
cblr-13858	394	20	5	5	NUM
cblr-13858	394	21	,	,	PUNCT
cblr-13858	394	22	2012	2012	NUM
cblr-13858	394	23	)	)	PUNCT
cblr-13858	394	24	.	.	PUNCT
cblr-13858	394	25	"	"	PUNCT
cblr-13858	394	26	see	see	VERB
cblr-13858	394	27	angus	angus	PROPN
cblr-13858	394	28	loten	loten	PROPN
cblr-13858	394	29	,	,	PUNCT
cblr-13858	394	30	peer	peer	NOUN
cblr-13858	394	31	-	-	PUNCT
cblr-13858	394	32	to	to	ADP
cblr-13858	394	33	-	-	PUNCT
cblr-13858	394	34	peer	peer	NOUN
cblr-13858	394	35	loans	loan	NOUN
cblr-13858	394	36	grow	grow	VERB
cblr-13858	394	37	:	:	PUNCT
cblr-13858	394	38	fed	feed	VERB
cblr-13858	394	39	up	up	ADP
cblr-13858	394	40	with	with	ADP
cblr-13858	394	41	banks	bank	NOUN
cblr-13858	394	42	,	,	PUNCT
cblr-13858	394	43	entrepreneurs	entrepreneur	NOUN
cblr-13858	394	44	turn	turn	VERB
cblr-13858	394	45	to	to	ADP
cblr-13858	394	46	internet	internet	NOUN
cblr-13858	394	47	sites	site	NOUN
cblr-13858	394	48	,	,	PUNCT
cblr-13858	394	49	wsj.com	wsj.com	X
cblr-13858	394	50	(	(	PUNCT
cblr-13858	394	51	june	june	PROPN
cblr-13858	394	52	17	17	NUM
cblr-13858	394	53	,	,	PUNCT
cblr-13858	394	54	2011	2011	NUM
cblr-13858	394	55	)	)	PUNCT
cblr-13858	394	56	,	,	PUNCT
cblr-13858	395	1	http://online.wsj.com/article/sb100014240527487034212045763311417799	http://online.wsj.com/article/sb100014240527487034212045763311417799	PROPN
cblr-13858	395	2	53526.html?mod=itp-marketplace_3	53526.html?mod=itp-marketplace_3	X
cblr-13858	396	1	[	[	X
cblr-13858	396	2	hereinafter	hereinafter	NOUN
cblr-13858	396	3	loten	loten	VERB
cblr-13858	396	4	,	,	PUNCT
cblr-13858	396	5	peer	peer	NOUN
cblr-13858	396	6	-	-	PUNCT
cblr-13858	396	7	to	to	ADP
cblr-13858	396	8	-	-	PUNCT
cblr-13858	396	9	peer	peer	NOUN
cblr-13858	396	10	loans	loan	NOUN
cblr-13858	396	11	]	]	PUNCT
cblr-13858	396	12	;	;	PUNCT
cblr-13858	396	13	jonnelle	jonnelle	PROPN
cblr-13858	396	14	marte	marte	PROPN
cblr-13858	396	15	,	,	PUNCT
cblr-13858	396	16	credit	credit	NOUN
cblr-13858	396	17	crunch	crunch	NOUN
cblr-13858	396	18	gives	give	VERB
cblr-13858	396	19	'	'	PUNCT
cblr-13858	396	20	microlending	microlending	NOUN
cblr-13858	396	21	'	'	PUNCT
cblr-13858	396	22	a	a	DET
cblr-13858	396	23	boost	boost	NOUN
cblr-13858	396	24	,	,	PUNCT
cblr-13858	396	25	wsj.com	wsj.com	X
cblr-13858	396	26	(	(	PUNCT
cblr-13858	396	27	sept	sept	PROPN
cblr-13858	396	28	.	.	PROPN
cblr-13858	396	29	26	26	NUM
cblr-13858	396	30	,	,	PUNCT
cblr-13858	396	31	2010	2010	NUM
cblr-13858	396	32	)	)	PUNCT
cblr-13858	396	33	,	,	PUNCT
cblr-13858	396	34	http://online.wsj.com/article/sb1000142405	http://online.wsj.com/article/sb1000142405	PROPN
cblr-13858	396	35	2	2	NUM
cblr-13858	396	36	748	748	NUM
cblr-13858	396	37	703905604575514340314712872.html?keywords=credit+crunch	703905604575514340314712872.html?keywords=credit+crunch	NUM
cblr-13858	396	38	.	.	PUNCT
cblr-13858	397	1	"	"	PUNCT
cblr-13858	397	2	loten	loten	ADJ
cblr-13858	397	3	,	,	PUNCT
cblr-13858	397	4	peer	peer	NOUN
cblr-13858	397	5	-	-	PUNCT
cblr-13858	397	6	to	to	ADP
cblr-13858	397	7	-	-	PUNCT
cblr-13858	397	8	peer	peer	NOUN
cblr-13858	397	9	loans	loan	NOUN
cblr-13858	397	10	,	,	PUNCT
cblr-13858	397	11	supra	supra	NOUN
cblr-13858	397	12	note	note	NOUN
cblr-13858	397	13	78	78	NUM
cblr-13858	397	14	.	.	PUNCT
cblr-13858	398	1	as	as	ADP
cblr-13858	398	2	of	of	ADP
cblr-13858	398	3	may	may	PROPN
cblr-13858	398	4	2011	2011	NUM
cblr-13858	398	5	,	,	PUNCT
cblr-13858	398	6	about	about	ADV
cblr-13858	398	7	7.5	7.5	NUM
cblr-13858	398	8	%	%	NOUN
cblr-13858	398	9	of	of	ADP
cblr-13858	398	10	lending	lending	NOUN
cblr-13858	398	11	club	club	NOUN
cblr-13858	398	12	's	's	PART
cblr-13858	398	13	loans	loan	NOUN
cblr-13858	398	14	and	and	CCONJ
cblr-13858	398	15	about	about	ADV
cblr-13858	398	16	11	11	NUM
cblr-13858	398	17	%	%	NOUN
cblr-13858	398	18	of	of	ADP
cblr-13858	398	19	prosper	prosper	NOUN
cblr-13858	398	20	's	's	PART
cblr-13858	398	21	loans	loan	NOUN
cblr-13858	398	22	were	be	AUX
cblr-13858	398	23	for	for	ADP
cblr-13858	398	24	small	small	ADJ
cblr-13858	398	25	business	business	NOUN
cblr-13858	398	26	.	.	PUNCT
cblr-13858	399	1	i	i	PRON
cblr-13858	399	2	d.	d.	PROPN
cblr-13858	399	3	crowdfunding	crowdfunding	PROPN
cblr-13858	399	4	and	and	CCONJ
cblr-13858	399	5	securities	security	NOUN
cblr-13858	399	6	laws	law	NOUN
cblr-13858	399	7	21no	21no	ADJ
cblr-13858	399	8	.	.	PUNCT
cblr-13858	400	1	1	1	NUM
cblr-13858	400	2	:	:	SYM
cblr-13858	400	3	11	11	NUM
cblr-13858	400	4	prosper	prosper	NOUN
cblr-13858	400	5	and	and	CCONJ
cblr-13858	400	6	lending	lending	NOUN
cblr-13858	400	7	club	club	NOUN
cblr-13858	400	8	operate	operate	VERB
cblr-13858	400	9	similar	similar	ADJ
cblr-13858	400	10	,	,	PUNCT
cblr-13858	400	11	but	but	CCONJ
cblr-13858	400	12	not	not	PART
cblr-13858	400	13	identical	identical	ADJ
cblr-13858	400	14	,	,	PUNCT
cblr-13858	400	15	platforms.80	platforms.80	NOUN
cblr-13858	400	16	borrowers	borrower	NOUN
cblr-13858	400	17	submit	submit	VERB
cblr-13858	400	18	requests	request	NOUN
cblr-13858	400	19	for	for	ADP
cblr-13858	400	20	loans	loan	NOUN
cblr-13858	400	21	in	in	ADP
cblr-13858	400	22	amounts	amount	NOUN
cblr-13858	400	23	ranging	range	VERB
cblr-13858	400	24	from	from	ADP
cblr-13858	400	25	$	$	SYM
cblr-13858	400	26	1,000	1,000	NUM
cblr-13858	400	27	to	to	PART
cblr-13858	400	28	$	$	SYM
cblr-13858	400	29	25,000.81	25,000.81	NOUN
cblr-13858	400	30	potential	potential	ADJ
cblr-13858	400	31	lenders	lender	NOUN
cblr-13858	400	32	review	review	VERB
cblr-13858	400	33	those	those	DET
cblr-13858	400	34	requests	request	NOUN
cblr-13858	400	35	and	and	CCONJ
cblr-13858	400	36	decide	decide	VERB
cblr-13858	400	37	which	which	PRON
cblr-13858	400	38	to	to	PART
cblr-13858	400	39	fund.82	fund.82	VERB
cblr-13858	400	40	the	the	DET
cblr-13858	400	41	minimum	minimum	ADJ
cblr-13858	400	42	investment	investment	NOUN
cblr-13858	400	43	for	for	ADP
cblr-13858	400	44	each	each	DET
cblr-13858	400	45	loan	loan	NOUN
cblr-13858	400	46	request	request	NOUN
cblr-13858	400	47	is	be	AUX
cblr-13858	400	48	$	$	SYM
cblr-13858	400	49	25	25	NUM
cblr-13858	400	50	.	.	PUNCT
cblr-13858	400	51	"	"	PUNCT
cblr-13858	401	1	when	when	SCONJ
cblr-13858	401	2	a	a	DET
cblr-13858	401	3	loan	loan	NOUN
cblr-13858	401	4	receives	receive	VERB
cblr-13858	401	5	sufficient	sufficient	ADJ
cblr-13858	401	6	commitments	commitment	NOUN
cblr-13858	401	7	to	to	PART
cblr-13858	401	8	close	close	VERB
cblr-13858	401	9	,	,	PUNCT
cblr-13858	401	10	the	the	DET
cblr-13858	401	11	borrower	borrower	NOUN
cblr-13858	401	12	executes	execute	VERB
cblr-13858	401	13	a	a	DET
cblr-13858	401	14	three	three	NUM
cblr-13858	401	15	-	-	PUNCT
cblr-13858	401	16	year	year	NOUN
cblr-13858	401	17	unsecured	unsecured	ADJ
cblr-13858	401	18	note	note	NOUN
cblr-13858	401	19	for	for	ADP
cblr-13858	401	20	the	the	DET
cblr-13858	401	21	amount	amount	NOUN
cblr-13858	401	22	of	of	ADP
cblr-13858	401	23	the	the	DET
cblr-13858	401	24	loan.8	loan.8	PROPN
cblr-13858	401	25	4	4	NUM
cblr-13858	401	26	the	the	DET
cblr-13858	401	27	nature	nature	NOUN
cblr-13858	401	28	of	of	ADP
cblr-13858	401	29	investors	investor	NOUN
cblr-13858	401	30	'	'	PART
cblr-13858	401	31	participation	participation	NOUN
cblr-13858	401	32	in	in	ADP
cblr-13858	401	33	these	these	DET
cblr-13858	401	34	loans	loan	NOUN
cblr-13858	401	35	has	have	AUX
cblr-13858	401	36	changed	change	VERB
cblr-13858	401	37	since	since	SCONJ
cblr-13858	401	38	prosper	prosper	NOUN
cblr-13858	401	39	and	and	CCONJ
cblr-13858	401	40	lending	lending	NOUN
cblr-13858	401	41	club	club	NOUN
cblr-13858	401	42	first	first	ADV
cblr-13858	401	43	launched	launch	VERB
cblr-13858	401	44	.	.	PUNCT
cblr-13858	402	1	originally	originally	ADV
cblr-13858	402	2	,	,	PUNCT
cblr-13858	402	3	borrowers	borrower	NOUN
cblr-13858	402	4	on	on	ADP
cblr-13858	402	5	both	both	DET
cblr-13858	402	6	sites	site	NOUN
cblr-13858	402	7	issued	issue	VERB
cblr-13858	402	8	notes	note	NOUN
cblr-13858	402	9	directly	directly	ADV
cblr-13858	402	10	to	to	ADP
cblr-13858	402	11	the	the	DET
cblr-13858	402	12	crowdfunding	crowdfunding	NOUN
cblr-13858	402	13	lenders	lender	NOUN
cblr-13858	402	14	,	,	PUNCT
cblr-13858	402	15	with	with	ADP
cblr-13858	402	16	the	the	DET
cblr-13858	402	17	site	site	NOUN
cblr-13858	402	18	maintaining	maintain	VERB
cblr-13858	402	19	custody	custody	NOUN
cblr-13858	402	20	of	of	ADP
cblr-13858	402	21	the	the	DET
cblr-13858	402	22	notes	note	NOUN
cblr-13858	402	23	and	and	CCONJ
cblr-13858	402	24	servicing	service	VERB
cblr-13858	402	25	them	they	PRON
cblr-13858	402	26	for	for	ADP
cblr-13858	402	27	a	a	DET
cblr-13858	402	28	1	1	NUM
cblr-13858	402	29	%	%	NOUN
cblr-13858	402	30	fee	fee	NOUN
cblr-13858	402	31	.	.	PUNCT
cblr-13858	403	1	5	5	NUM
cblr-13858	403	2	now	now	ADV
cblr-13858	403	3	,	,	PUNCT
cblr-13858	403	4	however	however	ADV
cblr-13858	403	5	,	,	PUNCT
cblr-13858	403	6	lenders	lender	NOUN
cblr-13858	403	7	on	on	ADP
cblr-13858	403	8	the	the	DET
cblr-13858	403	9	two	two	NUM
cblr-13858	403	10	sites	site	NOUN
cblr-13858	403	11	do	do	AUX
cblr-13858	403	12	not	not	PART
cblr-13858	403	13	make	make	VERB
cblr-13858	403	14	loans	loan	NOUN
cblr-13858	403	15	directly	directly	ADV
cblr-13858	403	16	to	to	ADP
cblr-13858	403	17	the	the	DET
cblr-13858	403	18	underlying	underlying	ADJ
cblr-13858	403	19	borrowers.6	borrowers.6	PROPN
cblr-13858	403	20	instead	instead	ADV
cblr-13858	403	21	,	,	PUNCT
cblr-13858	403	22	lenders	lender	NOUN
cblr-13858	403	23	purchase	purchase	VERB
cblr-13858	403	24	8o	8o	NUM
cblr-13858	403	25	for	for	ADP
cblr-13858	403	26	a	a	DET
cblr-13858	403	27	more	more	ADV
cblr-13858	403	28	detailed	detailed	ADJ
cblr-13858	403	29	discussion	discussion	NOUN
cblr-13858	403	30	of	of	ADP
cblr-13858	403	31	the	the	DET
cblr-13858	403	32	operations	operation	NOUN
cblr-13858	403	33	of	of	ADP
cblr-13858	403	34	prosper	prosper	NOUN
cblr-13858	403	35	and	and	CCONJ
cblr-13858	403	36	lending	lending	NOUN
cblr-13858	403	37	club	club	NOUN
cblr-13858	403	38	,	,	PUNCT
cblr-13858	403	39	see	see	VERB
cblr-13858	403	40	generally	generally	ADV
cblr-13858	403	41	verstein	verstein	NOUN
cblr-13858	403	42	,	,	PUNCT
cblr-13858	403	43	supra	supra	PROPN
cblr-13858	403	44	note	note	NOUN
cblr-13858	403	45	12	12	NUM
cblr-13858	403	46	(	(	PUNCT
cblr-13858	403	47	describing	describe	VERB
cblr-13858	403	48	the	the	DET
cblr-13858	403	49	operations	operation	NOUN
cblr-13858	403	50	of	of	ADP
cblr-13858	403	51	prosper	prosper	NOUN
cblr-13858	403	52	and	and	CCONJ
cblr-13858	403	53	lending	lending	NOUN
cblr-13858	403	54	club	club	NOUN
cblr-13858	403	55	)	)	PUNCT
cblr-13858	403	56	.	.	PUNCT
cblr-13858	404	1	"	"	PUNCT
cblr-13858	404	2	see	see	VERB
cblr-13858	404	3	prosper	prosper	NOUN
cblr-13858	404	4	marketplace	marketplace	NOUN
cblr-13858	404	5	,	,	PUNCT
cblr-13858	404	6	inc	inc	PROPN
cblr-13858	404	7	.	.	PROPN
cblr-13858	404	8	,	,	PUNCT
cblr-13858	404	9	amendment	amendment	PROPN
cblr-13858	404	10	no	no	PROPN
cblr-13858	404	11	.	.	PROPN
cblr-13858	404	12	6	6	NUM
cblr-13858	404	13	to	to	ADP
cblr-13858	404	14	registration	registration	NOUN
cblr-13858	404	15	statement	statement	NOUN
cblr-13858	404	16	8	8	NUM
cblr-13858	404	17	(	(	PUNCT
cblr-13858	404	18	form	form	NOUN
cblr-13858	404	19	s-1	s-1	NOUN
cblr-13858	404	20	)	)	PUNCT
cblr-13858	404	21	(	(	PUNCT
cblr-13858	404	22	july	july	PROPN
cblr-13858	404	23	13	13	NUM
cblr-13858	404	24	,	,	PUNCT
cblr-13858	404	25	2009	2009	NUM
cblr-13858	404	26	)	)	PUNCT
cblr-13858	404	27	,	,	PUNCT
cblr-13858	404	28	available	available	ADJ
cblr-13858	404	29	at	at	ADP
cblr-13858	404	30	http://www	http://www	PROPN
cblr-13858	404	31	.	.	PUNCT
cblr-13858	405	1	sec.gov/archives/edgar/data/1416265/000141626509000017/prospers-1a6	sec.gov/archives/edgar/data/1416265/000141626509000017/prospers-1a6	PROPN
cblr-13858	405	2	.	.	PUNCT
cblr-13858	406	1	htm	htm	PROPN
cblr-13858	407	1	[	[	X
cblr-13858	407	2	hereinafter	hereinafter	NOUN
cblr-13858	407	3	prosper	prosper	VERB
cblr-13858	407	4	registration	registration	NOUN
cblr-13858	407	5	statement	statement	NOUN
cblr-13858	407	6	]	]	X
cblr-13858	407	7	;	;	PUNCT
cblr-13858	407	8	lendingclub	lendingclub	PROPN
cblr-13858	407	9	corp	corp	PROPN
cblr-13858	407	10	.	.	PROPN
cblr-13858	407	11	,	,	PUNCT
cblr-13858	407	12	amendment	amendment	PROPN
cblr-13858	407	13	no	no	INTJ
cblr-13858	407	14	.	.	NOUN
cblr-13858	407	15	3	3	NUM
cblr-13858	407	16	to	to	ADP
cblr-13858	407	17	registration	registration	NOUN
cblr-13858	407	18	statement	statement	NOUN
cblr-13858	407	19	8	8	NUM
cblr-13858	407	20	(	(	PUNCT
cblr-13858	407	21	form	form	NOUN
cblr-13858	407	22	s-1	s-1	NOUN
cblr-13858	407	23	)	)	PUNCT
cblr-13858	407	24	(	(	PUNCT
cblr-13858	407	25	oct	oct	PROPN
cblr-13858	407	26	.	.	PROPN
cblr-13858	407	27	9	9	NUM
cblr-13858	407	28	,	,	PUNCT
cblr-13858	407	29	2008	2008	NUM
cblr-13858	407	30	)	)	PUNCT
cblr-13858	407	31	,	,	PUNCT
cblr-13858	407	32	available	available	ADJ
cblr-13858	407	33	at	at	ADP
cblr-13858	407	34	http://www.sec.gov/archives/edgar/data/1409970/0000950134	http://www.sec.gov/archives/edgar/data/1409970/0000950134	PROPN
cblr-13858	407	35	08017739	08017739	NUM
cblr-13858	407	36	/	/	SYM
cblr-13858	408	1	f41480a3sv1za.htm	f41480a3sv1za.htm	NOUN
cblr-13858	409	1	[	[	X
cblr-13858	409	2	hereinafter	hereinafter	NOUN
cblr-13858	409	3	lending	lending	NOUN
cblr-13858	409	4	club	club	NOUN
cblr-13858	409	5	registration	registration	NOUN
cblr-13858	409	6	statement	statement	NOUN
cblr-13858	409	7	]	]	X
cblr-13858	409	8	.	.	PUNCT
cblr-13858	410	1	82	82	NUM
cblr-13858	410	2	all	all	PRON
cblr-13858	410	3	of	of	ADP
cblr-13858	410	4	the	the	DET
cblr-13858	410	5	lending	lending	NOUN
cblr-13858	410	6	club	club	NOUN
cblr-13858	410	7	lenders	lender	NOUN
cblr-13858	410	8	must	must	AUX
cblr-13858	410	9	meet	meet	VERB
cblr-13858	410	10	suitability	suitability	NOUN
cblr-13858	410	11	standards	standard	NOUN
cblr-13858	410	12	based	base	VERB
cblr-13858	410	13	on	on	ADP
cblr-13858	410	14	gross	gross	ADJ
cblr-13858	410	15	income	income	NOUN
cblr-13858	410	16	and/or	and/or	CCONJ
cblr-13858	410	17	net	net	ADJ
cblr-13858	410	18	worth	worth	NOUN
cblr-13858	410	19	.	.	PUNCT
cblr-13858	411	1	lending	lending	NOUN
cblr-13858	411	2	club	club	NOUN
cblr-13858	411	3	registration	registration	NOUN
cblr-13858	411	4	statement	statement	NOUN
cblr-13858	411	5	,	,	PUNCT
cblr-13858	411	6	supra	supra	PROPN
cblr-13858	411	7	note	note	PROPN
cblr-13858	411	8	81	81	NUM
cblr-13858	411	9	,	,	PUNCT
cblr-13858	411	10	at	at	ADP
cblr-13858	411	11	5	5	NUM
cblr-13858	411	12	.	.	PUNCT
cblr-13858	411	13	prosper	prosper	NOUN
cblr-13858	411	14	imposes	impose	VERB
cblr-13858	411	15	suitability	suitability	NOUN
cblr-13858	411	16	standards	standard	NOUN
cblr-13858	411	17	only	only	ADV
cblr-13858	411	18	on	on	ADP
cblr-13858	411	19	lenders	lender	NOUN
cblr-13858	411	20	living	live	VERB
cblr-13858	411	21	in	in	ADP
cblr-13858	411	22	certain	certain	ADJ
cblr-13858	411	23	states	state	NOUN
cblr-13858	411	24	.	.	PUNCT
cblr-13858	412	1	prosper	prosper	VERB
cblr-13858	412	2	registration	registration	NOUN
cblr-13858	412	3	statement	statement	NOUN
cblr-13858	412	4	,	,	PUNCT
cblr-13858	412	5	supra	supra	PROPN
cblr-13858	412	6	note	note	PROPN
cblr-13858	412	7	81	81	NUM
cblr-13858	412	8	,	,	PUNCT
cblr-13858	412	9	at	at	ADP
cblr-13858	412	10	6	6	NUM
cblr-13858	412	11	.	.	PUNCT
cblr-13858	412	12	"	"	PUNCT
cblr-13858	412	13	prosper	prosper	VERB
cblr-13858	412	14	registration	registration	NOUN
cblr-13858	412	15	statement	statement	NOUN
cblr-13858	412	16	,	,	PUNCT
cblr-13858	412	17	supra	supra	PROPN
cblr-13858	412	18	note	note	PROPN
cblr-13858	412	19	81	81	NUM
cblr-13858	412	20	,	,	PUNCT
cblr-13858	412	21	at	at	ADP
cblr-13858	412	22	12	12	NUM
cblr-13858	412	23	;	;	PUNCT
cblr-13858	412	24	lending	lend	VERB
cblr-13858	412	25	club	club	NOUN
cblr-13858	412	26	registration	registration	NOUN
cblr-13858	412	27	statement	statement	NOUN
cblr-13858	412	28	,	,	PUNCT
cblr-13858	412	29	supra	supra	PROPN
cblr-13858	412	30	note	note	PROPN
cblr-13858	412	31	81	81	NUM
cblr-13858	412	32	,	,	PUNCT
cblr-13858	412	33	at	at	ADP
cblr-13858	412	34	48	48	NUM
cblr-13858	412	35	.	.	PUNCT
cblr-13858	412	36	'	'	PUNCT
cblr-13858	412	37	prosper	prosper	VERB
cblr-13858	412	38	registration	registration	NOUN
cblr-13858	412	39	statement	statement	NOUN
cblr-13858	412	40	,	,	PUNCT
cblr-13858	412	41	supra	supra	PROPN
cblr-13858	412	42	note	note	PROPN
cblr-13858	412	43	81	81	NUM
cblr-13858	412	44	,	,	PUNCT
cblr-13858	412	45	at	at	ADP
cblr-13858	412	46	8	8	NUM
cblr-13858	412	47	;	;	PUNCT
cblr-13858	412	48	lending	lend	VERB
cblr-13858	412	49	club	club	NOUN
cblr-13858	412	50	registration	registration	NOUN
cblr-13858	412	51	statement	statement	NOUN
cblr-13858	412	52	,	,	PUNCT
cblr-13858	412	53	supra	supra	PROPN
cblr-13858	412	54	note	note	PROPN
cblr-13858	412	55	81	81	NUM
cblr-13858	412	56	,	,	PUNCT
cblr-13858	412	57	at	at	ADP
cblr-13858	412	58	7	7	NUM
cblr-13858	412	59	.	.	PUNCT
cblr-13858	412	60	prosper	prosper	NOUN
cblr-13858	412	61	has	have	AUX
cblr-13858	412	62	said	say	VERB
cblr-13858	412	63	it	it	PRON
cblr-13858	412	64	plans	plan	VERB
cblr-13858	412	65	to	to	PART
cblr-13858	412	66	vary	vary	VERB
cblr-13858	412	67	the	the	DET
cblr-13858	412	68	terms	term	NOUN
cblr-13858	412	69	of	of	ADP
cblr-13858	412	70	its	its	PRON
cblr-13858	412	71	loans	loan	NOUN
cblr-13858	412	72	in	in	ADP
cblr-13858	412	73	the	the	DET
cblr-13858	412	74	future	future	NOUN
cblr-13858	412	75	,	,	PUNCT
cblr-13858	412	76	with	with	ADP
cblr-13858	412	77	a	a	DET
cblr-13858	412	78	range	range	NOUN
cblr-13858	412	79	between	between	ADP
cblr-13858	412	80	three	three	NUM
cblr-13858	412	81	months	month	NOUN
cblr-13858	412	82	and	and	CCONJ
cblr-13858	412	83	seven	seven	NUM
cblr-13858	412	84	years	year	NOUN
cblr-13858	412	85	.	.	PUNCT
cblr-13858	413	1	prosper	prosper	VERB
cblr-13858	413	2	registration	registration	NOUN
cblr-13858	413	3	statement	statement	NOUN
cblr-13858	413	4	,	,	PUNCT
cblr-13858	413	5	supra	supra	PROPN
cblr-13858	413	6	note	note	PROPN
cblr-13858	413	7	81	81	NUM
cblr-13858	413	8	,	,	PUNCT
cblr-13858	413	9	at	at	ADP
cblr-13858	413	10	8	8	NUM
cblr-13858	413	11	.	.	NOUN
cblr-13858	413	12	85	85	NUM
cblr-13858	413	13	prosper	prosper	NOUN
cblr-13858	413	14	registration	registration	NOUN
cblr-13858	413	15	statement	statement	NOUN
cblr-13858	413	16	,	,	PUNCT
cblr-13858	413	17	supra	supra	PROPN
cblr-13858	413	18	note	note	PROPN
cblr-13858	413	19	81	81	NUM
cblr-13858	413	20	,	,	PUNCT
cblr-13858	413	21	at	at	ADP
cblr-13858	413	22	76	76	NUM
cblr-13858	413	23	;	;	PUNCT
cblr-13858	413	24	lending	lend	VERB
cblr-13858	413	25	club	club	NOUN
cblr-13858	413	26	registration	registration	NOUN
cblr-13858	413	27	statement	statement	NOUN
cblr-13858	413	28	,	,	PUNCT
cblr-13858	413	29	supra	supra	PROPN
cblr-13858	413	30	note	note	PROPN
cblr-13858	413	31	81	81	NUM
cblr-13858	413	32	,	,	PUNCT
cblr-13858	413	33	at	at	ADP
cblr-13858	413	34	89	89	NUM
cblr-13858	413	35	.	.	NOUN
cblr-13858	413	36	8	8	NUM
cblr-13858	413	37	see	see	VERB
cblr-13858	413	38	prosper	prosper	NOUN
cblr-13858	413	39	registration	registration	NOUN
cblr-13858	413	40	statement	statement	NOUN
cblr-13858	413	41	,	,	PUNCT
cblr-13858	413	42	supra	supra	PROPN
cblr-13858	413	43	note	note	PROPN
cblr-13858	413	44	81	81	NUM
cblr-13858	413	45	,	,	PUNCT
cblr-13858	413	46	at	at	ADP
cblr-13858	413	47	8	8	NUM
cblr-13858	413	48	;	;	PUNCT
cblr-13858	413	49	lending	lend	VERB
cblr-13858	413	50	club	club	NOUN
cblr-13858	413	51	registration	registration	NOUN
cblr-13858	413	52	statement	statement	NOUN
cblr-13858	413	53	,	,	PUNCT
cblr-13858	413	54	supra	supra	PROPN
cblr-13858	413	55	note	note	PROPN
cblr-13858	413	56	81	81	NUM
cblr-13858	413	57	,	,	PUNCT
cblr-13858	413	58	at	at	ADP
cblr-13858	413	59	7	7	NUM
cblr-13858	413	60	.	.	PUNCT
cblr-13858	414	1	the	the	DET
cblr-13858	414	2	change	change	NOUN
cblr-13858	414	3	resulted	result	VERB
cblr-13858	414	4	col	col	PROPN
cblr-13858	414	5	umia	umia	PROPN
cblr-13858	414	6	b	b	PROPN
cblr-13858	415	1	usiness	usiness	PROPN
cblr-13858	415	2	la	la	PROPN
cblr-13858	415	3	wre	wre	PROPN
cblr-13858	415	4	vie	vie	PROPN
cblr-13858	415	5	w	w	PROPN
cblr-13858	416	1	[	[	X
cblr-13858	416	2	vol	vol	NOUN
cblr-13858	416	3	.	.	PUNCT
cblr-13858	416	4	201222	201222	NUM
cblr-13858	416	5	notes	note	NOUN
cblr-13858	416	6	issued	issue	VERB
cblr-13858	416	7	by	by	ADP
cblr-13858	416	8	prosper	prosper	NOUN
cblr-13858	416	9	or	or	CCONJ
cblr-13858	416	10	lending	lend	VERB
cblr-13858	416	11	club	club	NOUN
cblr-13858	416	12	themselves	themselves	PRON
cblr-13858	416	13	,	,	PUNCT
cblr-13858	416	14	and	and	CCONJ
cblr-13858	416	15	the	the	DET
cblr-13858	416	16	sites	site	NOUN
cblr-13858	416	17	use	use	VERB
cblr-13858	416	18	those	those	DET
cblr-13858	416	19	funds	fund	NOUN
cblr-13858	416	20	to	to	PART
cblr-13858	416	21	make	make	VERB
cblr-13858	416	22	loans	loan	NOUN
cblr-13858	416	23	through	through	ADP
cblr-13858	416	24	webbank	webbank	NOUN
cblr-13858	416	25	7	7	NUM
cblr-13858	416	26	to	to	ADP
cblr-13858	416	27	the	the	DET
cblr-13858	416	28	underlying	underlie	VERB
cblr-13858	416	29	borrowers.*8	borrowers.*8	NOUN
cblr-13858	416	30	although	although	SCONJ
cblr-13858	416	31	the	the	DET
cblr-13858	416	32	sites	site	NOUN
cblr-13858	416	33	are	be	AUX
cblr-13858	416	34	the	the	DET
cblr-13858	416	35	issuers	issuer	NOUN
cblr-13858	416	36	of	of	ADP
cblr-13858	416	37	the	the	DET
cblr-13858	416	38	notes	note	NOUN
cblr-13858	416	39	that	that	SCONJ
cblr-13858	416	40	the	the	DET
cblr-13858	416	41	lenders	lender	NOUN
cblr-13858	416	42	purchase	purchase	VERB
cblr-13858	416	43	,	,	PUNCT
cblr-13858	416	44	the	the	DET
cblr-13858	416	45	sites	site	NOUN
cblr-13858	416	46	are	be	AUX
cblr-13858	416	47	obligated	obligate	VERB
cblr-13858	416	48	to	to	PART
cblr-13858	416	49	pay	pay	VERB
cblr-13858	416	50	only	only	ADV
cblr-13858	416	51	if	if	SCONJ
cblr-13858	416	52	the	the	DET
cblr-13858	416	53	underlying	underlie	VERB
cblr-13858	416	54	borrowers	borrower	NOUN
cblr-13858	416	55	repay	repay	VERB
cblr-13858	416	56	the	the	DET
cblr-13858	416	57	corresponding	corresponding	ADJ
cblr-13858	416	58	loans	loan	NOUN
cblr-13858	416	59	.	.	PUNCT
cblr-13858	416	60	"	"	PUNCT
cblr-13858	417	1	in	in	ADP
cblr-13858	417	2	effect	effect	NOUN
cblr-13858	417	3	,	,	PUNCT
cblr-13858	417	4	the	the	DET
cblr-13858	417	5	sites	site	NOUN
cblr-13858	417	6	act	act	VERB
cblr-13858	417	7	as	as	ADP
cblr-13858	417	8	conduits	conduit	NOUN
cblr-13858	417	9	for	for	ADP
cblr-13858	417	10	borrower	borrower	NOUN
cblr-13858	417	11	payments	payment	NOUN
cblr-13858	417	12	,	,	PUNCT
cblr-13858	417	13	taking	take	VERB
cblr-13858	417	14	1	1	NUM
cblr-13858	417	15	%	%	NOUN
cblr-13858	417	16	of	of	ADP
cblr-13858	417	17	the	the	DET
cblr-13858	417	18	payments	payment	NOUN
cblr-13858	417	19	before	before	ADP
cblr-13858	417	20	passing	pass	VERB
cblr-13858	417	21	them	they	PRON
cblr-13858	417	22	along	along	ADP
cblr-13858	417	23	to	to	ADP
cblr-13858	417	24	the	the	DET
cblr-13858	417	25	lenders.90	lenders.90	NOUN
cblr-13858	417	26	both	both	PRON
cblr-13858	417	27	prosper	prosper	VERB
cblr-13858	417	28	and	and	CCONJ
cblr-13858	417	29	lending	lending	NOUN
cblr-13858	417	30	club	club	NOUN
cblr-13858	417	31	also	also	ADV
cblr-13858	417	32	charge	charge	VERB
cblr-13858	417	33	borrowers	borrower	NOUN
cblr-13858	417	34	an	an	DET
cblr-13858	417	35	origination	origination	NOUN
cblr-13858	417	36	fee	fee	NOUN
cblr-13858	417	37	on	on	ADP
cblr-13858	417	38	each	each	DET
cblr-13858	417	39	loan	loan	NOUN
cblr-13858	417	40	;	;	PUNCT
cblr-13858	417	41	the	the	DET
cblr-13858	417	42	amount	amount	NOUN
cblr-13858	417	43	of	of	ADP
cblr-13858	417	44	the	the	DET
cblr-13858	417	45	fee	fee	NOUN
cblr-13858	417	46	depends	depend	VERB
cblr-13858	417	47	on	on	ADP
cblr-13858	417	48	the	the	DET
cblr-13858	417	49	borrower	borrower	NOUN
cblr-13858	417	50	's	's	PART
cblr-13858	417	51	credit	credit	NOUN
cblr-13858	417	52	risk	risk	NOUN
cblr-13858	417	53	.	.	PUNCT
cblr-13858	417	54	"	"	PUNCT
cblr-13858	418	1	prosper	prosper	VERB
cblr-13858	418	2	and	and	CCONJ
cblr-13858	418	3	lending	lending	NOUN
cblr-13858	418	4	club	club	NOUN
cblr-13858	418	5	set	set	VERB
cblr-13858	418	6	interest	interest	NOUN
cblr-13858	418	7	rates	rate	NOUN
cblr-13858	418	8	on	on	ADP
cblr-13858	418	9	the	the	DET
cblr-13858	418	10	notes	note	NOUN
cblr-13858	418	11	(	(	PUNCT
cblr-13858	418	12	and	and	CCONJ
cblr-13858	418	13	on	on	ADP
cblr-13858	418	14	the	the	DET
cblr-13858	418	15	underlying	underlie	VERB
cblr-13858	418	16	loans	loan	NOUN
cblr-13858	418	17	)	)	PUNCT
cblr-13858	418	18	differently	differently	ADV
cblr-13858	418	19	.	.	PUNCT
cblr-13858	419	1	lending	lending	NOUN
cblr-13858	419	2	club	club	NOUN
cblr-13858	419	3	evaluates	evaluate	VERB
cblr-13858	419	4	each	each	DET
cblr-13858	419	5	borrower	borrower	NOUN
cblr-13858	419	6	and	and	CCONJ
cblr-13858	419	7	sets	set	VERB
cblr-13858	419	8	an	an	DET
cblr-13858	419	9	interest	interest	NOUN
cblr-13858	419	10	rate	rate	NOUN
cblr-13858	419	11	on	on	ADP
cblr-13858	419	12	each	each	DET
cblr-13858	419	13	loan	loan	NOUN
cblr-13858	419	14	based	base	VERB
cblr-13858	419	15	on	on	ADP
cblr-13858	419	16	the	the	DET
cblr-13858	419	17	"	"	PUNCT
cblr-13858	419	18	loan	loan	NOUN
cblr-13858	419	19	grade	grade	NOUN
cblr-13858	419	20	"	"	PUNCT
cblr-13858	419	21	it	it	PRON
cblr-13858	419	22	assigns	assign	VERB
cblr-13858	419	23	to	to	ADP
cblr-13858	419	24	the	the	DET
cblr-13858	419	25	loan.92	loan.92	ADJ
cblr-13858	419	26	prosper	prosper	NOUN
cblr-13858	419	27	also	also	ADV
cblr-13858	419	28	rates	rate	VERB
cblr-13858	419	29	each	each	DET
cblr-13858	419	30	potential	potential	ADJ
cblr-13858	419	31	loan,9	loan,9	NOUN
cblr-13858	419	32	"	"	PUNCT
cblr-13858	419	33	but	but	CCONJ
cblr-13858	419	34	those	those	DET
cblr-13858	419	35	scores	score	NOUN
cblr-13858	419	36	are	be	AUX
cblr-13858	419	37	used	use	VERB
cblr-13858	419	38	only	only	ADV
cblr-13858	419	39	to	to	PART
cblr-13858	419	40	set	set	VERB
cblr-13858	419	41	a	a	DET
cblr-13858	419	42	minimum	minimum	ADJ
cblr-13858	419	43	rate	rate	NOUN
cblr-13858	419	44	.	.	PUNCT
cblr-13858	419	45	"	"	PUNCT
cblr-13858	420	1	the	the	DET
cblr-13858	420	2	actual	actual	ADJ
cblr-13858	420	3	interest	interest	NOUN
cblr-13858	420	4	rate	rate	NOUN
cblr-13858	420	5	is	be	AUX
cblr-13858	420	6	determined	determine	VERB
cblr-13858	420	7	by	by	ADP
cblr-13858	420	8	an	an	DET
cblr-13858	420	9	auction	auction	NOUN
cblr-13858	420	10	process	process	NOUN
cblr-13858	420	11	.	.	PUNCT
cblr-13858	421	1	each	each	DET
cblr-13858	421	2	lender	lender	NOUN
cblr-13858	421	3	bids	bid	VERB
cblr-13858	421	4	the	the	DET
cblr-13858	421	5	minimum	minimum	ADJ
cblr-13858	421	6	percentage	percentage	NOUN
cblr-13858	421	7	he	he	PRON
cblr-13858	421	8	is	be	AUX
cblr-13858	421	9	willing	willing	ADJ
cblr-13858	421	10	to	to	ADP
cblr-13858	421	11	accept,95	accept,95	NOUN
cblr-13858	421	12	and	and	CCONJ
cblr-13858	421	13	the	the	DET
cblr-13858	421	14	interest	interest	NOUN
cblr-13858	421	15	rate	rate	NOUN
cblr-13858	421	16	on	on	ADP
cblr-13858	421	17	each	each	DET
cblr-13858	421	18	loan	loan	NOUN
cblr-13858	421	19	(	(	PUNCT
cblr-13858	421	20	and	and	CCONJ
cblr-13858	421	21	on	on	ADP
cblr-13858	421	22	the	the	DET
cblr-13858	421	23	notes	note	NOUN
cblr-13858	421	24	issued	issue	VERB
cblr-13858	421	25	by	by	ADP
cblr-13858	421	26	directly	directly	ADV
cblr-13858	421	27	from	from	ADP
cblr-13858	421	28	the	the	DET
cblr-13858	421	29	sec	sec	PROPN
cblr-13858	421	30	's	's	PART
cblr-13858	421	31	position	position	NOUN
cblr-13858	421	32	that	that	SCONJ
cblr-13858	421	33	the	the	DET
cblr-13858	421	34	sites	site	NOUN
cblr-13858	421	35	were	be	AUX
cblr-13858	421	36	illegally	illegally	ADV
cblr-13858	421	37	offering	offer	VERB
cblr-13858	421	38	securities	security	NOUN
cblr-13858	421	39	without	without	ADP
cblr-13858	421	40	registration	registration	NOUN
cblr-13858	421	41	.	.	PUNCT
cblr-13858	422	1	see	see	VERB
cblr-13858	422	2	prosper	prosper	NOUN
cblr-13858	422	3	marketplace	marketplace	NOUN
cblr-13858	422	4	,	,	PUNCT
cblr-13858	422	5	inc	inc	PROPN
cblr-13858	422	6	.	.	PROPN
cblr-13858	422	7	,	,	PUNCT
cblr-13858	422	8	securities	security	NOUN
cblr-13858	422	9	act	act	AUX
cblr-13858	422	10	release	release	VERB
cblr-13858	422	11	no	no	NOUN
cblr-13858	422	12	.	.	NOUN
cblr-13858	422	13	8984	8984	NUM
cblr-13858	422	14	(	(	PUNCT
cblr-13858	422	15	nov	nov	PROPN
cblr-13858	422	16	.	.	PROPN
cblr-13858	422	17	24	24	NUM
cblr-13858	422	18	,	,	PUNCT
cblr-13858	422	19	2008	2008	NUM
cblr-13858	422	20	)	)	PUNCT
cblr-13858	422	21	.	.	PUNCT
cblr-13858	423	1	7	7	NUM
cblr-13858	423	2	prosper	prosper	NOUN
cblr-13858	423	3	registration	registration	NOUN
cblr-13858	423	4	statement	statement	NOUN
cblr-13858	423	5	,	,	PUNCT
cblr-13858	423	6	supra	supra	PROPN
cblr-13858	423	7	note	note	PROPN
cblr-13858	423	8	81	81	NUM
cblr-13858	423	9	,	,	PUNCT
cblr-13858	423	10	at	at	ADP
cblr-13858	423	11	5	5	NUM
cblr-13858	423	12	;	;	PUNCT
cblr-13858	423	13	lending	lend	VERB
cblr-13858	423	14	club	club	NOUN
cblr-13858	423	15	registration	registration	NOUN
cblr-13858	423	16	statement	statement	NOUN
cblr-13858	423	17	,	,	PUNCT
cblr-13858	423	18	supra	supra	PROPN
cblr-13858	423	19	note	note	PROPN
cblr-13858	423	20	81	81	NUM
cblr-13858	423	21	,	,	PUNCT
cblr-13858	423	22	at	at	ADP
cblr-13858	423	23	6	6	NUM
cblr-13858	423	24	.	.	PUNCT
cblr-13858	423	25	'	'	PUNCT
cblr-13858	423	26	prosper	prosper	VERB
cblr-13858	423	27	registration	registration	NOUN
cblr-13858	423	28	statement	statement	NOUN
cblr-13858	423	29	,	,	PUNCT
cblr-13858	423	30	supra	supra	PROPN
cblr-13858	423	31	note	note	PROPN
cblr-13858	423	32	81	81	NUM
cblr-13858	423	33	,	,	PUNCT
cblr-13858	423	34	at	at	ADP
cblr-13858	423	35	8	8	NUM
cblr-13858	423	36	;	;	PUNCT
cblr-13858	423	37	lending	lend	VERB
cblr-13858	423	38	club	club	NOUN
cblr-13858	423	39	registration	registration	NOUN
cblr-13858	423	40	statement	statement	NOUN
cblr-13858	423	41	,	,	PUNCT
cblr-13858	423	42	supra	supra	PROPN
cblr-13858	423	43	note	note	PROPN
cblr-13858	423	44	81	81	NUM
cblr-13858	423	45	,	,	PUNCT
cblr-13858	423	46	at	at	ADP
cblr-13858	423	47	7	7	NUM
cblr-13858	423	48	.	.	PUNCT
cblr-13858	423	49	"	"	PUNCT
cblr-13858	423	50	prosper	prosper	VERB
cblr-13858	423	51	registration	registration	NOUN
cblr-13858	423	52	statement	statement	NOUN
cblr-13858	423	53	,	,	PUNCT
cblr-13858	423	54	supra	supra	PROPN
cblr-13858	423	55	note	note	PROPN
cblr-13858	423	56	81	81	NUM
cblr-13858	423	57	,	,	PUNCT
cblr-13858	423	58	at	at	ADP
cblr-13858	423	59	8	8	NUM
cblr-13858	423	60	;	;	PUNCT
cblr-13858	423	61	lending	lend	VERB
cblr-13858	423	62	club	club	NOUN
cblr-13858	423	63	registration	registration	NOUN
cblr-13858	423	64	statement	statement	NOUN
cblr-13858	423	65	,	,	PUNCT
cblr-13858	423	66	supra	supra	PROPN
cblr-13858	423	67	note	note	PROPN
cblr-13858	423	68	81	81	NUM
cblr-13858	423	69	,	,	PUNCT
cblr-13858	423	70	at	at	ADP
cblr-13858	423	71	7	7	NUM
cblr-13858	423	72	-	-	SYM
cblr-13858	423	73	8	8	NUM
cblr-13858	423	74	.	.	PUNCT
cblr-13858	424	1	each	each	DET
cblr-13858	424	2	loan	loan	NOUN
cblr-13858	424	3	involves	involve	VERB
cblr-13858	424	4	a	a	DET
cblr-13858	424	5	different	different	ADJ
cblr-13858	424	6	series	series	NOUN
cblr-13858	424	7	of	of	ADP
cblr-13858	424	8	note	note	NOUN
cblr-13858	424	9	.	.	PUNCT
cblr-13858	425	1	the	the	DET
cblr-13858	425	2	notes	note	NOUN
cblr-13858	425	3	are	be	AUX
cblr-13858	425	4	registered	register	VERB
cblr-13858	425	5	pursuant	pursuant	ADV
cblr-13858	425	6	to	to	ADP
cblr-13858	425	7	a	a	DET
cblr-13858	425	8	form	form	NOUN
cblr-13858	425	9	s-1	s-1	NOUN
cblr-13858	425	10	shelf	shelf	NOUN
cblr-13858	425	11	registration	registration	NOUN
cblr-13858	425	12	,	,	PUNCT
cblr-13858	425	13	and	and	CCONJ
cblr-13858	425	14	each	each	DET
cblr-13858	425	15	loan	loan	NOUN
cblr-13858	425	16	requires	require	VERB
cblr-13858	425	17	a	a	DET
cblr-13858	425	18	different	different	ADJ
cblr-13858	425	19	prospectus	prospectus	NOUN
cblr-13858	425	20	supplement	supplement	NOUN
cblr-13858	425	21	.	.	PUNCT
cblr-13858	426	1	verstein	verstein	NOUN
cblr-13858	426	2	,	,	PUNCT
cblr-13858	426	3	supra	supra	PROPN
cblr-13858	426	4	note	note	NOUN
cblr-13858	426	5	12	12	NUM
cblr-13858	426	6	.	.	PUNCT
cblr-13858	427	1	90	90	NUM
cblr-13858	427	2	prosper	prosper	NOUN
cblr-13858	427	3	registration	registration	NOUN
cblr-13858	427	4	statement	statement	NOUN
cblr-13858	427	5	,	,	PUNCT
cblr-13858	427	6	supra	supra	PROPN
cblr-13858	427	7	note	note	PROPN
cblr-13858	427	8	81	81	NUM
cblr-13858	427	9	,	,	PUNCT
cblr-13858	427	10	at	at	ADP
cblr-13858	427	11	5	5	NUM
cblr-13858	427	12	;	;	PUNCT
cblr-13858	427	13	lending	lend	VERB
cblr-13858	427	14	club	club	NOUN
cblr-13858	427	15	registration	registration	NOUN
cblr-13858	427	16	statement	statement	NOUN
cblr-13858	427	17	,	,	PUNCT
cblr-13858	427	18	supra	supra	PROPN
cblr-13858	427	19	note	note	PROPN
cblr-13858	427	20	81	81	NUM
cblr-13858	427	21	,	,	PUNCT
cblr-13858	427	22	at	at	ADP
cblr-13858	427	23	3	3	NUM
cblr-13858	427	24	.	.	NOUN
cblr-13858	427	25	91	91	NUM
cblr-13858	427	26	verstein	verstein	NOUN
cblr-13858	427	27	,	,	PUNCT
cblr-13858	427	28	supra	supra	PROPN
cblr-13858	427	29	note	note	NOUN
cblr-13858	427	30	12	12	NUM
cblr-13858	427	31	.	.	NOUN
cblr-13858	427	32	9	9	NUM
cblr-13858	427	33	lending	lending	NOUN
cblr-13858	427	34	club	club	NOUN
cblr-13858	427	35	registration	registration	NOUN
cblr-13858	427	36	statement	statement	NOUN
cblr-13858	427	37	,	,	PUNCT
cblr-13858	427	38	supra	supra	PROPN
cblr-13858	427	39	note	note	PROPN
cblr-13858	427	40	81	81	NUM
cblr-13858	427	41	,	,	PUNCT
cblr-13858	427	42	at	at	ADP
cblr-13858	427	43	37	37	NUM
cblr-13858	427	44	-	-	SYM
cblr-13858	427	45	43	43	NUM
cblr-13858	427	46	.	.	PUNCT
cblr-13858	428	1	*	*	PUNCT
cblr-13858	428	2	prosper	prosper	VERB
cblr-13858	428	3	registration	registration	NOUN
cblr-13858	428	4	statement	statement	NOUN
cblr-13858	428	5	,	,	PUNCT
cblr-13858	428	6	supra	supra	PROPN
cblr-13858	428	7	note	note	PROPN
cblr-13858	428	8	81	81	NUM
cblr-13858	428	9	,	,	PUNCT
cblr-13858	428	10	at	at	ADP
cblr-13858	428	11	12	12	NUM
cblr-13858	428	12	,	,	PUNCT
cblr-13858	428	13	41	41	NUM
cblr-13858	428	14	-	-	SYM
cblr-13858	428	15	43	43	NUM
cblr-13858	428	16	.	.	PUNCT
cblr-13858	429	1	94	94	NUM
cblr-13858	430	1	i	i	PRON
cblr-13858	430	2	d.	d.	PROPN
cblr-13858	430	3	at	at	ADP
cblr-13858	430	4	4	4	NUM
cblr-13858	430	5	.	.	ADP
cblr-13858	430	6	9	9	NUM
cblr-13858	430	7	i	i	PROPN
cblr-13858	430	8	d.	d.	PROPN
cblr-13858	430	9	cro	cro	PROPN
cblr-13858	430	10	wdfunding	wdfunding	NOUN
cblr-13858	430	11	and	and	CCONJ
cblr-13858	430	12	securities	securities	PROPN
cblr-13858	430	13	ia	ia	PROPN
cblr-13858	430	14	ws	ws	PROPN
cblr-13858	430	15	23no	23no	NUM
cblr-13858	430	16	.	.	PUNCT
cblr-13858	431	1	1	1	NUM
cblr-13858	431	2	:	:	SYM
cblr-13858	431	3	1	1	NUM
cblr-13858	431	4	]	]	PUNCT
cblr-13858	431	5	prosper	prosper	NOUN
cblr-13858	431	6	)	)	PUNCT
cblr-13858	431	7	is	be	AUX
cblr-13858	431	8	the	the	DET
cblr-13858	431	9	minimum	minimum	ADJ
cblr-13858	431	10	percentage	percentage	NOUN
cblr-13858	431	11	acceptable	acceptable	ADJ
cblr-13858	431	12	to	to	ADP
cblr-13858	431	13	enough	enough	ADJ
cblr-13858	431	14	lenders	lender	NOUN
cblr-13858	431	15	to	to	PART
cblr-13858	431	16	fund	fund	VERB
cblr-13858	431	17	the	the	DET
cblr-13858	431	18	entire	entire	ADJ
cblr-13858	431	19	loan.9	loan.9	PROPN
cblr-13858	431	20	6	6	NUM
cblr-13858	431	21	4	4	NUM
cblr-13858	431	22	.	.	PUNCT
cblr-13858	432	1	equity	equity	NOUN
cblr-13858	432	2	sites	site	NOUN
cblr-13858	432	3	equity	equity	NOUN
cblr-13858	432	4	crowdfunding	crowdfunding	NOUN
cblr-13858	432	5	offers	offer	VERB
cblr-13858	432	6	investors	investor	NOUN
cblr-13858	432	7	a	a	DET
cblr-13858	432	8	share	share	NOUN
cblr-13858	432	9	of	of	ADP
cblr-13858	432	10	the	the	DET
cblr-13858	432	11	profits	profit	NOUN
cblr-13858	432	12	or	or	CCONJ
cblr-13858	432	13	return	return	NOUN
cblr-13858	432	14	of	of	ADP
cblr-13858	432	15	the	the	DET
cblr-13858	432	16	business	business	NOUN
cblr-13858	432	17	they	they	PRON
cblr-13858	432	18	are	be	AUX
cblr-13858	432	19	helping	help	VERB
cblr-13858	432	20	to	to	PART
cblr-13858	432	21	fund	fund	VERB
cblr-13858	432	22	.	.	PUNCT
cblr-13858	433	1	the	the	DET
cblr-13858	433	2	equity	equity	NOUN
cblr-13858	433	3	model	model	NOUN
cblr-13858	433	4	is	be	AUX
cblr-13858	433	5	the	the	DET
cblr-13858	433	6	model	model	NOUN
cblr-13858	433	7	that	that	PRON
cblr-13858	433	8	most	most	ADV
cblr-13858	433	9	clearly	clearly	ADV
cblr-13858	433	10	involves	involve	VERB
cblr-13858	433	11	the	the	DET
cblr-13858	433	12	sale	sale	NOUN
cblr-13858	433	13	of	of	ADP
cblr-13858	433	14	a	a	DET
cblr-13858	433	15	security	security	NOUN
cblr-13858	433	16	.	.	PUNCT
cblr-13858	434	1	because	because	SCONJ
cblr-13858	434	2	of	of	ADP
cblr-13858	434	3	the	the	DET
cblr-13858	434	4	regulatory	regulatory	ADJ
cblr-13858	434	5	issues	issue	NOUN
cblr-13858	434	6	it	it	PRON
cblr-13858	434	7	raises	raise	VERB
cblr-13858	434	8	,	,	PUNCT
cblr-13858	434	9	the	the	DET
cblr-13858	434	10	equity	equity	NOUN
cblr-13858	434	11	crowdfunding	crowdfunding	NOUN
cblr-13858	434	12	model	model	NOUN
cblr-13858	434	13	is	be	AUX
cblr-13858	434	14	not	not	PART
cblr-13858	434	15	common	common	ADJ
cblr-13858	434	16	in	in	ADP
cblr-13858	434	17	the	the	DET
cblr-13858	434	18	united	united	PROPN
cblr-13858	434	19	states	states	PROPN
cblr-13858	434	20	.	.	PUNCT
cblr-13858	435	1	equity	equity	NOUN
cblr-13858	435	2	crowdfunding	crowdfunding	NOUN
cblr-13858	435	3	is	be	AUX
cblr-13858	435	4	more	more	ADV
cblr-13858	435	5	common	common	ADJ
cblr-13858	435	6	elsewhere	elsewhere	ADV
cblr-13858	435	7	,	,	PUNCT
cblr-13858	435	8	however	however	ADV
cblr-13858	435	9	.	.	PUNCT
cblr-13858	436	1	7	7	NUM
cblr-13858	436	2	one	one	NUM
cblr-13858	436	3	study	study	NOUN
cblr-13858	436	4	found	find	VERB
cblr-13858	436	5	that	that	SCONJ
cblr-13858	436	6	one	one	NUM
cblr-13858	436	7	-	-	PUNCT
cblr-13858	436	8	third	third	NOUN
cblr-13858	436	9	of	of	ADP
cblr-13858	436	10	all	all	DET
cblr-13858	436	11	crowdfunding	crowdfunde	VERB
cblr-13858	436	12	sites	site	NOUN
cblr-13858	436	13	that	that	PRON
cblr-13858	436	14	offered	offer	VERB
cblr-13858	436	15	investor	investor	NOUN
cblr-13858	436	16	rewards	reward	NOUN
cblr-13858	436	17	offered	offer	VERB
cblr-13858	436	18	stock	stock	NOUN
cblr-13858	436	19	.	.	PUNCT
cblr-13858	436	20	"	"	PUNCT
cblr-13858	437	1	until	until	ADP
cblr-13858	437	2	recently	recently	ADV
cblr-13858	437	3	,	,	PUNCT
cblr-13858	437	4	profounder	profounder	PROPN
cblr-13858	437	5	was	be	AUX
cblr-13858	437	6	the	the	DET
cblr-13858	437	7	leading	lead	VERB
cblr-13858	437	8	equity	equity	NOUN
cblr-13858	437	9	-	-	PUNCT
cblr-13858	437	10	model	model	NOUN
cblr-13858	437	11	crowdfunding	crowdfunding	NOUN
cblr-13858	437	12	site	site	NOUN
cblr-13858	437	13	in	in	ADP
cblr-13858	437	14	the	the	DET
cblr-13858	437	15	united	united	PROPN
cblr-13858	437	16	states	states	PROPN
cblr-13858	437	17	.	.	PUNCT
cblr-13858	437	18	"	"	PUNCT
cblr-13858	438	1	however	however	ADV
cblr-13858	438	2	,	,	PUNCT
cblr-13858	438	3	profounder	profounder	PROPN
cblr-13858	438	4	announced	announce	VERB
cblr-13858	438	5	in	in	ADP
cblr-13858	438	6	june	june	PROPN
cblr-13858	438	7	2011	2011	NUM
cblr-13858	438	8	that	that	SCONJ
cblr-13858	438	9	it	it	PRON
cblr-13858	438	10	would	would	AUX
cblr-13858	438	11	no	no	ADV
cblr-13858	438	12	longer	long	ADV
cblr-13858	438	13	be	be	AUX
cblr-13858	438	14	offering	offer	VERB
cblr-13858	438	15	securities	security	NOUN
cblr-13858	438	16	on	on	ADP
cblr-13858	438	17	its	its	PRON
cblr-13858	438	18	site	site	NOUN
cblr-13858	438	19	.	.	PUNCT
cblr-13858	439	1	"oo	"oo	X
cblr-13858	439	2	the	the	DET
cblr-13858	439	3	reason	reason	NOUN
cblr-13858	439	4	for	for	ADP
cblr-13858	439	5	the	the	DET
cblr-13858	439	6	change	change	NOUN
cblr-13858	439	7	became	become	VERB
cblr-13858	439	8	apparent	apparent	ADJ
cblr-13858	439	9	when	when	SCONJ
cblr-13858	439	10	the	the	DET
cblr-13858	439	11	california	california	PROPN
cblr-13858	439	12	department	department	PROPN
cblr-13858	439	13	of	of	ADP
cblr-13858	439	14	corporations	corporation	NOUN
cblr-13858	439	15	subsequently	subsequently	ADV
cblr-13858	439	16	issued	issue	VERB
cblr-13858	439	17	a	a	DET
cblr-13858	439	18	consent	consent	NOUN
cblr-13858	439	19	order	order	NOUN
cblr-13858	439	20	barring	bar	VERB
cblr-13858	439	21	profounder	profounder	NOUN
cblr-13858	439	22	from	from	ADP
cblr-13858	439	23	selling	sell	VERB
cblr-13858	439	24	securities	security	NOUN
cblr-13858	439	25	on	on	ADP
cblr-13858	439	26	its	its	PRON
cblr-13858	439	27	web	web	NOUN
cblr-13858	439	28	site	site	NOUN
cblr-13858	439	29	unless	unless	SCONJ
cblr-13858	439	30	it	it	PRON
cblr-13858	439	31	first	first	ADV
cblr-13858	439	32	registered	register	VERB
cblr-13858	439	33	as	as	ADP
cblr-13858	439	34	a	a	DET
cblr-13858	439	35	broker	broker	NOUN
cblr-13858	439	36	-	-	PUNCT
cblr-13858	439	37	dealer	dealer	NOUN
cblr-13858	439	38	under	under	ADP
cblr-13858	439	39	california	california	PROPN
cblr-13858	439	40	law.o	law.o	PROPN
cblr-13858	439	41	'	'	PART
cblr-13858	440	1	96	96	NUM
cblr-13858	441	1	i	i	PRON
cblr-13858	441	2	d.	d.	PROPN
cblr-13858	441	3	9	9	NUM
cblr-13858	441	4	eric	eric	PROPN
cblr-13858	441	5	markowitz	markowitz	PROPN
cblr-13858	441	6	,	,	PUNCT
cblr-13858	441	7	coming	come	VERB
cblr-13858	441	8	soon	soon	ADV
cblr-13858	441	9	:	:	PUNCT
cblr-13858	441	10	more	more	ADJ
cblr-13858	441	11	cash	cash	NOUN
cblr-13858	441	12	for	for	ADP
cblr-13858	441	13	start	start	NOUN
cblr-13858	441	14	-	-	PUNCT
cblr-13858	441	15	ups	up	NOUN
cblr-13858	441	16	?	?	PUNCT
cblr-13858	441	17	,	,	PUNCT
cblr-13858	441	18	yahoo	yahoo	PROPN
cblr-13858	441	19	small	small	ADJ
cblr-13858	441	20	business	business	PROPN
cblr-13858	441	21	advisor	advisor	NOUN
cblr-13858	441	22	(	(	PUNCT
cblr-13858	441	23	dec	dec	PROPN
cblr-13858	441	24	.	.	PROPN
cblr-13858	441	25	8	8	NUM
cblr-13858	441	26	,	,	PUNCT
cblr-13858	441	27	2011	2011	NUM
cblr-13858	441	28	,	,	PUNCT
cblr-13858	441	29	12:01	12:01	NUM
cblr-13858	441	30	am	am	NOUN
cblr-13858	441	31	)	)	PUNCT
cblr-13858	441	32	,	,	PUNCT
cblr-13858	441	33	http://smallbusiness	http://smallbusiness	NOUN
cblr-13858	441	34	.	.	PUNCT
cblr-13858	442	1	yahoo.com/advisor/why-crowdfunding-bill-good-start-050100895.html	yahoo.com/advisor/why-crowdfunding-bill-good-start-050100895.html	PROPN
cblr-13858	442	2	.	.	PROPN
cblr-13858	442	3	9	9	NUM
cblr-13858	442	4	belleflamme	belleflamme	PROPN
cblr-13858	442	5	et	et	PROPN
cblr-13858	442	6	al	al	PROPN
cblr-13858	442	7	.	.	PROPN
cblr-13858	442	8	,	,	PUNCT
cblr-13858	442	9	supra	supra	PROPN
cblr-13858	442	10	note	note	PROPN
cblr-13858	442	11	10	10	NUM
cblr-13858	442	12	,	,	PUNCT
cblr-13858	442	13	at	at	ADP
cblr-13858	442	14	33	33	NUM
cblr-13858	442	15	-	-	SYM
cblr-13858	442	16	35	35	NUM
cblr-13858	442	17	tbl	tbl	NOUN
cblr-13858	442	18	.	.	PUNCT
cblr-13858	443	1	3	3	X
cblr-13858	443	2	.	.	X
cblr-13858	444	1	another	another	DET
cblr-13858	444	2	22	22	NUM
cblr-13858	444	3	%	%	NOUN
cblr-13858	444	4	offered	offer	VERB
cblr-13858	444	5	direct	direct	ADJ
cblr-13858	444	6	cash	cash	NOUN
cblr-13858	444	7	payments	payment	NOUN
cblr-13858	444	8	other	other	ADJ
cblr-13858	444	9	than	than	ADP
cblr-13858	444	10	dividends	dividend	NOUN
cblr-13858	444	11	on	on	ADP
cblr-13858	444	12	stock	stock	NOUN
cblr-13858	444	13	.	.	PUNCT
cblr-13858	445	1	i	i	PRON
cblr-13858	445	2	d.	d.	PROPN
cblr-13858	445	3	'	'	PART
cblr-13858	445	4	profounder	profounder	PROPN
cblr-13858	445	5	,	,	PUNCT
cblr-13858	445	6	supra	supra	PROPN
cblr-13858	445	7	note	note	NOUN
cblr-13858	445	8	33	33	NUM
cblr-13858	445	9	.	.	PUNCT
cblr-13858	446	1	see	see	VERB
cblr-13858	446	2	also	also	ADV
cblr-13858	446	3	nikki	nikki	PROPN
cblr-13858	446	4	d.	d.	PROPN
cblr-13858	446	5	pope	pope	PROPN
cblr-13858	446	6	,	,	PUNCT
cblr-13858	446	7	crowdfunding	crowdfunde	VERB
cblr-13858	446	8	microstartups	microstartup	NOUN
cblr-13858	446	9	:	:	PUNCT
cblr-13858	446	10	it	it	PRON
cblr-13858	446	11	's	be	AUX
cblr-13858	446	12	time	time	NOUN
cblr-13858	446	13	for	for	SCONJ
cblr-13858	446	14	the	the	DET
cblr-13858	446	15	securities	security	NOUN
cblr-13858	446	16	and	and	CCONJ
cblr-13858	446	17	exchange	exchange	PROPN
cblr-13858	446	18	commission	commission	PROPN
cblr-13858	446	19	to	to	PART
cblr-13858	446	20	approve	approve	VERB
cblr-13858	446	21	a	a	DET
cblr-13858	446	22	small	small	ADJ
cblr-13858	446	23	offering	offering	NOUN
cblr-13858	446	24	exemption	exemption	NOUN
cblr-13858	446	25	,	,	PUNCT
cblr-13858	446	26	13	13	NUM
cblr-13858	446	27	u.	u.	PROPN
cblr-13858	446	28	pa	pa	PROPN
cblr-13858	446	29	.	.	PUNCT
cblr-13858	447	1	j.	j.	PROPN
cblr-13858	447	2	bus	bus	PROPN
cblr-13858	447	3	.	.	PUNCT
cblr-13858	448	1	l.	l.	PROPN
cblr-13858	448	2	973	973	NUM
cblr-13858	448	3	,	,	PUNCT
cblr-13858	448	4	978	978	NUM
cblr-13858	448	5	-	-	SYM
cblr-13858	448	6	81	81	NUM
cblr-13858	448	7	(	(	PUNCT
cblr-13858	448	8	discussing	discuss	VERB
cblr-13858	448	9	a	a	DET
cblr-13858	448	10	few	few	ADJ
cblr-13858	448	11	direct	direct	ADJ
cblr-13858	448	12	internet	internet	NOUN
cblr-13858	448	13	offerings	offering	NOUN
cblr-13858	448	14	not	not	PART
cblr-13858	448	15	mediated	mediate	VERB
cblr-13858	448	16	through	through	ADP
cblr-13858	448	17	crowdfunding	crowdfunding	NOUN
cblr-13858	448	18	sites	site	NOUN
cblr-13858	448	19	)	)	PUNCT
cblr-13858	448	20	.	.	PUNCT
cblr-13858	449	1	in	in	SCONJ
cblr-13858	449	2	see	see	PROPN
cblr-13858	449	3	jessica	jessica	PROPN
cblr-13858	449	4	jackley	jackley	PROPN
cblr-13858	449	5	,	,	PUNCT
cblr-13858	449	6	changes	change	NOUN
cblr-13858	449	7	to	to	ADP
cblr-13858	449	8	our	our	PRON
cblr-13858	449	9	site	site	NOUN
cblr-13858	449	10	,	,	PUNCT
cblr-13858	449	11	profounder	profounder	NOUN
cblr-13858	449	12	,	,	PUNCT
cblr-13858	449	13	the	the	DET
cblr-13858	449	14	blog	blog	NOUN
cblr-13858	449	15	(	(	PUNCT
cblr-13858	449	16	june	june	PROPN
cblr-13858	449	17	27	27	NUM
cblr-13858	449	18	,	,	PUNCT
cblr-13858	449	19	2011	2011	NUM
cblr-13858	449	20	)	)	PUNCT
cblr-13858	449	21	,	,	PUNCT
cblr-13858	449	22	http://profounderblog.wordpress.com/2011/06/27/changesto-our-site/.	http://profounderblog.wordpress.com/2011/06/27/changesto-our-site/.	ADV
cblr-13858	449	23	on	on	ADP
cblr-13858	449	24	february	february	PROPN
cblr-13858	449	25	17	17	NUM
cblr-13858	449	26	,	,	PUNCT
cblr-13858	449	27	2012	2012	NUM
cblr-13858	449	28	,	,	PUNCT
cblr-13858	449	29	profounder	profounder	NOUN
cblr-13858	449	30	announced	announce	VERB
cblr-13858	449	31	that	that	SCONJ
cblr-13858	449	32	it	it	PRON
cblr-13858	449	33	was	be	AUX
cblr-13858	449	34	shutting	shut	VERB
cblr-13858	449	35	down	down	ADP
cblr-13858	449	36	.	.	PUNCT
cblr-13858	450	1	profounder	profounder	NOUN
cblr-13858	450	2	shutting	shut	VERB
cblr-13858	450	3	down	down	ADP
cblr-13858	450	4	,	,	PUNCT
cblr-13858	450	5	profounder	profounder	NOUN
cblr-13858	450	6	(	(	PUNCT
cblr-13858	450	7	feb	feb	PROPN
cblr-13858	450	8	.	.	PROPN
cblr-13858	450	9	17	17	NUM
cblr-13858	450	10	,	,	PUNCT
cblr-13858	450	11	2012	2012	NUM
cblr-13858	450	12	)	)	PUNCT
cblr-13858	450	13	,	,	PUNCT
cblr-13858	450	14	http://blog.profounder.com/2012/02/17/profounder-shutting-down/.	http://blog.profounder.com/2012/02/17/profounder-shutting-down/.	PROPN
cblr-13858	450	15	1o1	1o1	PROPN
cblr-13858	450	16	see	see	VERB
cblr-13858	450	17	profounder	profounder	NOUN
cblr-13858	450	18	fin	fin	PROPN
cblr-13858	450	19	.	.	PROPN
cblr-13858	450	20	,	,	PUNCT
cblr-13858	450	21	inc	inc	PROPN
cblr-13858	450	22	.	.	PROPN
cblr-13858	450	23	,	,	PUNCT
cblr-13858	450	24	cal	cal	PROPN
cblr-13858	450	25	.	.	PUNCT
cblr-13858	451	1	bus	bus	PROPN
cblr-13858	451	2	.	.	PUNCT
cblr-13858	451	3	,	,	PUNCT
cblr-13858	451	4	transp	transp	PROPN
cblr-13858	451	5	.	.	PUNCT
cblr-13858	451	6	&	&	CCONJ
cblr-13858	451	7	hous	hous	ADJ
cblr-13858	451	8	.	.	PUNCT
cblr-13858	452	1	agency	agency	NOUN
cblr-13858	452	2	dep't	dep't	NOUN
cblr-13858	452	3	of	of	ADP
cblr-13858	452	4	corps	corps	PROPN
cblr-13858	452	5	.	.	PUNCT
cblr-13858	453	1	consent	consent	NOUN
cblr-13858	453	2	order	order	NOUN
cblr-13858	453	3	to	to	PART
cblr-13858	453	4	desist	desist	VERB
cblr-13858	453	5	and	and	CCONJ
cblr-13858	453	6	refrain	refrain	VERB
cblr-13858	453	7	(	(	PUNCT
cblr-13858	453	8	aug	aug	PROPN
cblr-13858	453	9	.	.	PROPN
cblr-13858	453	10	31	31	NUM
cblr-13858	453	11	,	,	PUNCT
cblr-13858	453	12	2011	2011	NUM
cblr-13858	453	13	)	)	PUNCT
cblr-13858	453	14	,	,	PUNCT
cblr-13858	453	15	available	available	ADJ
cblr-13858	453	16	at	at	ADP
cblr-13858	453	17	www.corp.ca.gov/enf/pdf/20	www.corp.ca.gov/enf/pdf/20	X
cblr-13858	453	18	11/	11/	NUM
cblr-13858	453	19	profounderco.pdf	profounderco.pdf	NOUN
cblr-13858	453	20	.	.	NOUN
cblr-13858	453	21	24	24	NUM
cblr-13858	453	22	col	col	PROPN
cblr-13858	453	23	umbia	umbia	PROPN
cblr-13858	453	24	b	b	PROPN
cblr-13858	453	25	usiness	usiness	PROPN
cblr-13858	453	26	la	la	PROPN
cblr-13858	453	27	w	w	PROPN
cblr-13858	453	28	re	re	PROPN
cblr-13858	453	29	vie	vie	PROPN
cblr-13858	453	30	w	w	PROPN
cblr-13858	454	1	[	[	X
cblr-13858	454	2	vol	vol	NOUN
cblr-13858	454	3	.	.	PUNCT
cblr-13858	454	4	2012	2012	NUM
cblr-13858	454	5	crowdfunding	crowdfunding	NOUN
cblr-13858	454	6	and	and	CCONJ
cblr-13858	454	7	securities	security	NOUN
cblr-13858	454	8	laws	law	NOUN
cblr-13858	454	9	as	as	ADP
cblr-13858	454	10	a	a	DET
cblr-13858	454	11	result	result	NOUN
cblr-13858	454	12	of	of	ADP
cblr-13858	454	13	this	this	DET
cblr-13858	454	14	change	change	NOUN
cblr-13858	454	15	,	,	PUNCT
cblr-13858	454	16	there	there	PRON
cblr-13858	454	17	are	be	VERB
cblr-13858	454	18	now	now	ADV
cblr-13858	454	19	no	no	DET
cblr-13858	454	20	major	major	ADJ
cblr-13858	454	21	,	,	PUNCT
cblr-13858	454	22	publicly	publicly	ADV
cblr-13858	454	23	accessible	accessible	ADJ
cblr-13858	454	24	equity	equity	NOUN
cblr-13858	454	25	crowdfunding	crowdfunding	NOUN
cblr-13858	454	26	sites	site	NOUN
cblr-13858	454	27	in	in	ADP
cblr-13858	454	28	the	the	DET
cblr-13858	454	29	united	united	PROPN
cblr-13858	454	30	states	states	PROPN
cblr-13858	454	31	,	,	PUNCT
cblr-13858	454	32	although	although	SCONJ
cblr-13858	454	33	there	there	PRON
cblr-13858	454	34	are	be	VERB
cblr-13858	454	35	sites	site	NOUN
cblr-13858	454	36	that	that	PRON
cblr-13858	454	37	facilitate	facilitate	VERB
cblr-13858	454	38	private	private	ADJ
cblr-13858	454	39	equity	equity	NOUN
cblr-13858	454	40	offerings	offering	NOUN
cblr-13858	454	41	to	to	ADP
cblr-13858	454	42	sophisticated	sophisticated	ADJ
cblr-13858	454	43	and	and	CCONJ
cblr-13858	454	44	accredited	accredited	ADJ
cblr-13858	454	45	investors	investor	NOUN
cblr-13858	454	46	.	.	PUNCT
cblr-13858	455	1	'02	'02	NUM
cblr-13858	455	2	when	when	SCONJ
cblr-13858	455	3	it	it	PRON
cblr-13858	455	4	was	be	AUX
cblr-13858	455	5	operating	operate	VERB
cblr-13858	455	6	,	,	PUNCT
cblr-13858	455	7	profounder	profounder	NOUN
cblr-13858	455	8	offered	offer	VERB
cblr-13858	455	9	two	two	NUM
cblr-13858	455	10	different	different	ADJ
cblr-13858	455	11	types	type	NOUN
cblr-13858	455	12	of	of	ADP
cblr-13858	455	13	investment	investment	NOUN
cblr-13858	455	14	,	,	PUNCT
cblr-13858	455	15	which	which	PRON
cblr-13858	455	16	it	it	PRON
cblr-13858	455	17	called	call	VERB
cblr-13858	455	18	"	"	PUNCT
cblr-13858	455	19	public	public	ADJ
cblr-13858	455	20	rounds	round	NOUN
cblr-13858	455	21	"	"	PUNCT
cblr-13858	455	22	and	and	CCONJ
cblr-13858	455	23	"	"	PUNCT
cblr-13858	455	24	private	private	ADJ
cblr-13858	455	25	rounds	round	NOUN
cblr-13858	455	26	.	.	PUNCT
cblr-13858	456	1	"'03	"'03	PROPN
cblr-13858	456	2	the	the	DET
cblr-13858	456	3	types	type	NOUN
cblr-13858	456	4	of	of	ADP
cblr-13858	456	5	offerings	offering	NOUN
cblr-13858	456	6	differed	differ	VERB
cblr-13858	456	7	in	in	ADP
cblr-13858	456	8	two	two	NUM
cblr-13858	456	9	ways	way	NOUN
cblr-13858	456	10	:	:	PUNCT
cblr-13858	456	11	(	(	PUNCT
cblr-13858	456	12	1	1	X
cblr-13858	456	13	)	)	PUNCT
cblr-13858	456	14	the	the	DET
cblr-13858	456	15	return	return	NOUN
cblr-13858	456	16	offered	offer	VERB
cblr-13858	456	17	to	to	ADP
cblr-13858	456	18	investors	investor	NOUN
cblr-13858	456	19	;	;	PUNCT
cblr-13858	456	20	and	and	CCONJ
cblr-13858	456	21	(	(	PUNCT
cblr-13858	456	22	2	2	X
cblr-13858	456	23	)	)	PUNCT
cblr-13858	456	24	the	the	DET
cblr-13858	456	25	investors	investor	NOUN
cblr-13858	456	26	allowed	allow	VERB
cblr-13858	456	27	to	to	PART
cblr-13858	456	28	participate	participate	VERB
cblr-13858	456	29	.	.	PUNCT
cblr-13858	457	1	in	in	ADP
cblr-13858	457	2	public	public	ADJ
cblr-13858	457	3	rounds	round	NOUN
cblr-13858	457	4	,	,	PUNCT
cblr-13858	457	5	the	the	DET
cblr-13858	457	6	amount	amount	NOUN
cblr-13858	457	7	paid	pay	VERB
cblr-13858	457	8	back	back	ADV
cblr-13858	457	9	to	to	ADP
cblr-13858	457	10	investors	investor	NOUN
cblr-13858	457	11	was	be	AUX
cblr-13858	457	12	limited	limit	VERB
cblr-13858	457	13	to	to	ADP
cblr-13858	457	14	the	the	DET
cblr-13858	457	15	amount	amount	NOUN
cblr-13858	457	16	they	they	PRON
cblr-13858	457	17	contributed	contribute	VERB
cblr-13858	457	18	,	,	PUNCT
cblr-13858	457	19	without	without	ADP
cblr-13858	457	20	any	any	DET
cblr-13858	457	21	return	return	NOUN
cblr-13858	457	22	on	on	ADP
cblr-13858	457	23	their	their	PRON
cblr-13858	457	24	investment	investment	NOUN
cblr-13858	457	25	;	;	PUNCT
cblr-13858	457	26	investors	investor	NOUN
cblr-13858	457	27	in	in	ADP
cblr-13858	457	28	private	private	ADJ
cblr-13858	457	29	rounds	round	NOUN
cblr-13858	457	30	could	could	AUX
cblr-13858	457	31	receive	receive	VERB
cblr-13858	457	32	more	more	ADJ
cblr-13858	457	33	than	than	ADP
cblr-13858	457	34	what	what	PRON
cblr-13858	457	35	they	they	PRON
cblr-13858	457	36	invested.104	invested.104	ADV
cblr-13858	457	37	public	public	ADJ
cblr-13858	457	38	rounds	round	NOUN
cblr-13858	457	39	were	be	AUX
cblr-13858	457	40	open	open	ADJ
cblr-13858	457	41	to	to	ADP
cblr-13858	457	42	the	the	DET
cblr-13858	457	43	general	general	ADJ
cblr-13858	457	44	public	public	NOUN
cblr-13858	457	45	while	while	SCONJ
cblr-13858	457	46	private	private	ADJ
cblr-13858	457	47	rounds	round	NOUN
cblr-13858	457	48	were	be	AUX
cblr-13858	457	49	limited	limit	VERB
cblr-13858	457	50	to	to	ADP
cblr-13858	457	51	friends	friend	NOUN
cblr-13858	457	52	,	,	PUNCT
cblr-13858	457	53	family	family	NOUN
cblr-13858	457	54	members	member	NOUN
cblr-13858	457	55	and	and	CCONJ
cblr-13858	457	56	existing	exist	VERB
cblr-13858	457	57	acquaintances	acquaintance	NOUN
cblr-13858	457	58	of	of	ADP
cblr-13858	457	59	each	each	DET
cblr-13858	457	60	entrepreneuran	entrepreneuran	NOUN
cblr-13858	457	61	attempt	attempt	NOUN
cblr-13858	457	62	to	to	PART
cblr-13858	457	63	fit	fit	VERB
cblr-13858	457	64	within	within	ADP
cblr-13858	457	65	the	the	DET
cblr-13858	457	66	sec	sec	PROPN
cblr-13858	457	67	's	's	PART
cblr-13858	457	68	rule	rule	NOUN
cblr-13858	457	69	504	504	NUM
cblr-13858	457	70	exemption	exemption	NOUN
cblr-13858	457	71	from	from	ADP
cblr-13858	457	72	registration	registration	NOUN
cblr-13858	457	73	.	.	PUNCT
cblr-13858	458	1	0o	0o	NUM
cblr-13858	458	2	investors	investor	NOUN
cblr-13858	458	3	on	on	ADP
cblr-13858	458	4	profounder	profounder	NOUN
cblr-13858	458	5	were	be	AUX
cblr-13858	458	6	promised	promise	VERB
cblr-13858	458	7	a	a	DET
cblr-13858	458	8	percentage	percentage	NOUN
cblr-13858	458	9	of	of	ADP
cblr-13858	458	10	the	the	DET
cblr-13858	458	11	gross	gross	ADJ
cblr-13858	458	12	revenues	revenue	NOUN
cblr-13858	458	13	of	of	ADP
cblr-13858	458	14	the	the	DET
cblr-13858	458	15	businesses	business	NOUN
cblr-13858	458	16	in	in	ADP
cblr-13858	458	17	which	which	PRON
cblr-13858	458	18	they	they	PRON
cblr-13858	458	19	invested	invest	VERB
cblr-13858	458	20	.	.	PUNCT
cblr-13858	458	21	'06	'06	NUM
cblr-13858	459	1	the	the	DET
cblr-13858	459	2	exact	exact	ADJ
cblr-13858	459	3	percentage	percentage	NOUN
cblr-13858	459	4	of	of	ADP
cblr-13858	459	5	revenues	revenue	NOUN
cblr-13858	459	6	to	to	PART
cblr-13858	459	7	be	be	AUX
cblr-13858	459	8	paid	pay	VERB
cblr-13858	459	9	to	to	ADP
cblr-13858	459	10	investors	investor	NOUN
cblr-13858	459	11	and	and	CCONJ
cblr-13858	459	12	the	the	DET
cblr-13858	459	13	period	period	NOUN
cblr-13858	459	14	over	over	ADP
cblr-13858	459	15	which	which	PRON
cblr-13858	459	16	investors	investor	NOUN
cblr-13858	459	17	were	be	AUX
cblr-13858	459	18	to	to	PART
cblr-13858	459	19	receive	receive	VERB
cblr-13858	459	20	those	those	DET
cblr-13858	459	21	funds	fund	NOUN
cblr-13858	459	22	was	be	AUX
cblr-13858	459	23	left	leave	VERB
cblr-13858	459	24	to	to	ADP
cblr-13858	459	25	the	the	DET
cblr-13858	459	26	individual	individual	ADJ
cblr-13858	459	27	entrepreneur	entrepreneur	NOUN
cblr-13858	459	28	to	to	ADP
cblr-13858	459	29	102	102	NUM
cblr-13858	459	30	see	see	NOUN
cblr-13858	459	31	microventures	microventure	NOUN
cblr-13858	459	32	,	,	PUNCT
cblr-13858	459	33	supra	supra	PROPN
cblr-13858	459	34	note	note	NOUN
cblr-13858	459	35	33	33	NUM
cblr-13858	459	36	;	;	PUNCT
cblr-13858	459	37	terms	term	NOUN
cblr-13858	459	38	,	,	PUNCT
cblr-13858	459	39	grow	grow	VERB
cblr-13858	459	40	vc	vc	PROPN
cblr-13858	459	41	,	,	PUNCT
cblr-13858	459	42	http://www	http://www	PROPN
cblr-13858	459	43	.	.	PROPN
cblr-13858	459	44	growvc.com/main/tour/terms/	growvc.com/main/tour/terms/	PROPN
cblr-13858	460	1	(	(	PUNCT
cblr-13858	460	2	last	last	ADV
cblr-13858	460	3	visited	visit	VERB
cblr-13858	460	4	mar	mar	PROPN
cblr-13858	460	5	.	.	PROPN
cblr-13858	460	6	5	5	NUM
cblr-13858	460	7	,	,	PUNCT
cblr-13858	460	8	2012	2012	NUM
cblr-13858	460	9	)	)	PUNCT
cblr-13858	460	10	(	(	PUNCT
cblr-13858	460	11	limited	limit	VERB
cblr-13858	460	12	to	to	ADP
cblr-13858	460	13	accredited	accredited	ADJ
cblr-13858	460	14	investors	investor	NOUN
cblr-13858	460	15	)	)	PUNCT
cblr-13858	460	16	.	.	PUNCT
cblr-13858	461	1	1o3	1o3	NUM
cblr-13858	461	2	see	see	VERB
cblr-13858	461	3	matt	matt	PROPN
cblr-13858	461	4	ferner	ferner	NOUN
cblr-13858	461	5	,	,	PUNCT
cblr-13858	461	6	financing	financing	NOUN
cblr-13858	461	7	for	for	ADP
cblr-13858	461	8	ecommerce	ecommerce	NOUN
cblr-13858	461	9	:	:	PUNCT
cblr-13858	461	10	profounder.com	profounder.com	X
cblr-13858	461	11	can	can	AUX
cblr-13858	461	12	help	help	VERB
cblr-13858	461	13	ecommerce	ecommerce	VERB
cblr-13858	461	14	merchants	merchant	NOUN
cblr-13858	461	15	raise	raise	VERB
cblr-13858	461	16	money	money	NOUN
cblr-13858	461	17	,	,	PUNCT
cblr-13858	461	18	practical	practical	ADJ
cblr-13858	461	19	commerce	commerce	NOUN
cblr-13858	461	20	(	(	PUNCT
cblr-13858	461	21	dec	dec	PROPN
cblr-13858	461	22	.	.	PROPN
cblr-13858	461	23	27	27	NUM
cblr-13858	461	24	,	,	PUNCT
cblr-13858	461	25	2010	2010	NUM
cblr-13858	461	26	)	)	PUNCT
cblr-13858	461	27	,	,	PUNCT
cblr-13858	461	28	http://www.practicalecommerce.com/articles/2478-financing-for-eco	http://www.practicalecommerce.com/articles/2478-financing-for-eco	PROPN
cblr-13858	461	29	mmerce	mmerce	NOUN
cblr-13858	461	30	-	-	PUNCT
cblr-13858	461	31	profounder	profounder	NOUN
cblr-13858	461	32	-	-	PUNCT
cblr-13858	461	33	com	com	NOUN
cblr-13858	461	34	-	-	PUNCT
cblr-13858	461	35	can	can	AUX
cblr-13858	461	36	-	-	PUNCT
cblr-13858	461	37	help	help	VERB
cblr-13858	461	38	-	-	PUNCT
cblr-13858	461	39	ecommerce	ecommerce	NOUN
cblr-13858	461	40	-	-	PUNCT
cblr-13858	461	41	merchants	merchant	NOUN
cblr-13858	461	42	-	-	PUNCT
cblr-13858	461	43	raise	raise	NOUN
cblr-13858	461	44	-	-	PUNCT
cblr-13858	461	45	money	money	NOUN
cblr-13858	461	46	.	.	PUNCT
cblr-13858	462	1	'	'	PUNCT
cblr-13858	462	2	0	0	X
cblr-13858	462	3	'	'	PUNCT
cblr-13858	462	4	see	see	VERB
cblr-13858	462	5	i	i	PROPN
cblr-13858	462	6	d.	d.	PROPN
cblr-13858	462	7	105	105	NUM
cblr-13858	462	8	see	see	VERB
cblr-13858	462	9	infra	infra	NOUN
cblr-13858	462	10	part	part	NOUN
cblr-13858	462	11	iii.b.2.c	iii.b.2.c	PRON
cblr-13858	462	12	.	.	PUNCT
cblr-13858	463	1	10	10	NUM
cblr-13858	463	2	david	david	PROPN
cblr-13858	463	3	lang	lang	PROPN
cblr-13858	463	4	,	,	PUNCT
cblr-13858	463	5	entrepreneur	entrepreneur	NOUN
cblr-13858	463	6	-	-	VERB
cblr-13858	463	7	read	read	VERB
cblr-13858	463	8	this	this	DET
cblr-13858	463	9	first	first	ADJ
cblr-13858	463	10	!	!	PUNCT
cblr-13858	464	1	,	,	PUNCT
cblr-13858	464	2	profounder	profounder	NOUN
cblr-13858	464	3	(	(	PUNCT
cblr-13858	464	4	nov	nov	PROPN
cblr-13858	464	5	.	.	PROPN
cblr-13858	464	6	4	4	NUM
cblr-13858	464	7	,	,	PUNCT
cblr-13858	464	8	2010	2010	NUM
cblr-13858	464	9	)	)	PUNCT
cblr-13858	464	10	,	,	PUNCT
cblr-13858	464	11	http://support.profounder.com/entries/321128-common-questionsread-this-first	http://support.profounder.com/entries/321128-common-questionsread-this-first	PROPN
cblr-13858	464	12	(	(	PUNCT
cblr-13858	464	13	on	on	ADP
cblr-13858	464	14	file	file	NOUN
cblr-13858	464	15	with	with	ADP
cblr-13858	464	16	author	author	NOUN
cblr-13858	464	17	)	)	PUNCT
cblr-13858	464	18	.	.	PUNCT
cblr-13858	465	1	profounder	profounder	PROPN
cblr-13858	465	2	did	do	AUX
cblr-13858	465	3	not	not	PART
cblr-13858	465	4	explain	explain	VERB
cblr-13858	465	5	why	why	SCONJ
cblr-13858	465	6	investors	investor	NOUN
cblr-13858	465	7	shared	share	VERB
cblr-13858	465	8	gross	gross	ADJ
cblr-13858	465	9	revenues	revenue	NOUN
cblr-13858	465	10	rather	rather	ADV
cblr-13858	465	11	than	than	ADP
cblr-13858	465	12	profits	profit	NOUN
cblr-13858	465	13	,	,	PUNCT
cblr-13858	465	14	but	but	CCONJ
cblr-13858	465	15	this	this	PRON
cblr-13858	465	16	was	be	AUX
cblr-13858	465	17	probably	probably	ADV
cblr-13858	465	18	an	an	DET
cblr-13858	465	19	attempt	attempt	NOUN
cblr-13858	465	20	to	to	PART
cblr-13858	465	21	avoid	avoid	VERB
cblr-13858	465	22	creating	create	VERB
cblr-13858	465	23	a	a	DET
cblr-13858	465	24	partnership	partnership	NOUN
cblr-13858	465	25	between	between	ADP
cblr-13858	465	26	the	the	DET
cblr-13858	465	27	entrepreneur	entrepreneur	NOUN
cblr-13858	465	28	and	and	CCONJ
cblr-13858	465	29	the	the	DET
cblr-13858	465	30	investors	investor	NOUN
cblr-13858	465	31	.	.	PUNCT
cblr-13858	466	1	under	under	ADP
cblr-13858	466	2	the	the	DET
cblr-13858	466	3	uniform	uniform	PROPN
cblr-13858	466	4	partnership	partnership	PROPN
cblr-13858	466	5	act	act	PROPN
cblr-13858	466	6	,	,	PUNCT
cblr-13858	466	7	profit	profit	NOUN
cblr-13858	466	8	-	-	PUNCT
cblr-13858	466	9	sharing	sharing	NOUN
cblr-13858	466	10	is	be	AUX
cblr-13858	466	11	presumptive	presumptive	ADJ
cblr-13858	466	12	evidence	evidence	NOUN
cblr-13858	466	13	of	of	ADP
cblr-13858	466	14	the	the	DET
cblr-13858	466	15	existence	existence	NOUN
cblr-13858	466	16	of	of	ADP
cblr-13858	466	17	a	a	DET
cblr-13858	466	18	partnership	partnership	NOUN
cblr-13858	466	19	.	.	PUNCT
cblr-13858	467	1	unif	unif	PROPN
cblr-13858	467	2	.	.	PROPN
cblr-13858	467	3	p'ship	p'ship	PROPN
cblr-13858	467	4	act	act	PROPN
cblr-13858	467	5	§	§	PROPN
cblr-13858	467	6	202(c)(3	202(c)(3	NUM
cblr-13858	467	7	)	)	PUNCT
cblr-13858	467	8	(	(	PUNCT
cblr-13858	467	9	1997	1997	NUM
cblr-13858	467	10	)	)	PUNCT
cblr-13858	467	11	.	.	PUNCT
cblr-13858	468	1	sharing	share	VERB
cblr-13858	468	2	gross	gross	ADJ
cblr-13858	468	3	returns	return	NOUN
cblr-13858	468	4	is	be	AUX
cblr-13858	468	5	not	not	PART
cblr-13858	468	6	.	.	PUNCT
cblr-13858	469	1	i	i	PRON
cblr-13858	469	2	d.	d.	PROPN
cblr-13858	469	3	§	§	PROPN
cblr-13858	469	4	202(c)(2	202(c)(2	NUM
cblr-13858	469	5	)	)	PUNCT
cblr-13858	469	6	.	.	PUNCT
cblr-13858	470	1	no	no	INTJ
cblr-13858	470	2	.	.	PUNCT
cblr-13858	471	1	i:1	i:1	CCONJ
cblr-13858	471	2	]	]	PUNCT
cblr-13858	471	3	25	25	NUM
cblr-13858	471	4	columbia	columbia	PROPN
cblr-13858	471	5	business	business	NOUN
cblr-13858	471	6	law	law	PROPN
cblr-13858	471	7	review	review	NOUN
cblr-13858	471	8	determine,1o	determine,1o	NOUN
cblr-13858	471	9	'	'	PUNCT
cblr-13858	471	10	but	but	CCONJ
cblr-13858	471	11	the	the	DET
cblr-13858	471	12	maximum	maximum	ADJ
cblr-13858	471	13	payout	payout	ADJ
cblr-13858	471	14	period	period	NOUN
cblr-13858	471	15	was	be	AUX
cblr-13858	471	16	five	five	NUM
cblr-13858	471	17	years	year	NOUN
cblr-13858	471	18	.	.	PUNCT
cblr-13858	471	19	0	0	PUNCT
cblr-13858	472	1	this	this	DET
cblr-13858	472	2	share	share	NOUN
cblr-13858	472	3	of	of	ADP
cblr-13858	472	4	revenues	revenue	NOUN
cblr-13858	472	5	was	be	AUX
cblr-13858	472	6	the	the	DET
cblr-13858	472	7	only	only	ADJ
cblr-13858	472	8	equity	equity	NOUN
cblr-13858	472	9	interest	interest	NOUN
cblr-13858	472	10	investors	investor	NOUN
cblr-13858	472	11	received	receive	VERB
cblr-13858	472	12	-	-	PUNCT
cblr-13858	472	13	they	they	PRON
cblr-13858	472	14	received	receive	VERB
cblr-13858	472	15	no	no	DET
cblr-13858	472	16	stock	stock	NOUN
cblr-13858	472	17	or	or	CCONJ
cblr-13858	472	18	any	any	DET
cblr-13858	472	19	other	other	ADJ
cblr-13858	472	20	ownership	ownership	NOUN
cblr-13858	472	21	interest	interest	NOUN
cblr-13858	472	22	.	.	PUNCT
cblr-13858	472	23	'	'	PUNCT
cblr-13858	473	1	entrepreneurs	entrepreneur	NOUN
cblr-13858	473	2	had	have	VERB
cblr-13858	473	3	to	to	PART
cblr-13858	473	4	pay	pay	VERB
cblr-13858	473	5	to	to	PART
cblr-13858	473	6	list	list	VERB
cblr-13858	473	7	on	on	ADP
cblr-13858	473	8	profounder	profounder	NOUN
cblr-13858	473	9	,	,	PUNCT
cblr-13858	473	10	but	but	CCONJ
cblr-13858	473	11	the	the	DET
cblr-13858	473	12	amount	amount	NOUN
cblr-13858	473	13	and	and	CCONJ
cblr-13858	473	14	structure	structure	NOUN
cblr-13858	473	15	of	of	ADP
cblr-13858	473	16	those	those	DET
cblr-13858	473	17	payments	payment	NOUN
cblr-13858	473	18	is	be	AUX
cblr-13858	473	19	a	a	DET
cblr-13858	473	20	little	little	ADJ
cblr-13858	473	21	unclear	unclear	ADJ
cblr-13858	473	22	.	.	PUNCT
cblr-13858	474	1	according	accord	VERB
cblr-13858	474	2	to	to	ADP
cblr-13858	474	3	the	the	DET
cblr-13858	474	4	profounder	profounder	NOUN
cblr-13858	474	5	web	web	NOUN
cblr-13858	474	6	site	site	NOUN
cblr-13858	474	7	,	,	PUNCT
cblr-13858	474	8	entrepreneurs	entrepreneur	NOUN
cblr-13858	474	9	had	have	VERB
cblr-13858	474	10	to	to	PART
cblr-13858	474	11	pay	pay	VERB
cblr-13858	474	12	an	an	DET
cblr-13858	474	13	initial	initial	ADJ
cblr-13858	474	14	fee	fee	NOUN
cblr-13858	474	15	of	of	ADP
cblr-13858	474	16	$	$	SYM
cblr-13858	474	17	100	100	NUM
cblr-13858	474	18	to	to	PART
cblr-13858	474	19	post	post	VERB
cblr-13858	474	20	a	a	DET
cblr-13858	474	21	fundraising	fundraising	NOUN
cblr-13858	474	22	appeal	appeal	NOUN
cblr-13858	474	23	.	.	PUNCT
cblr-13858	475	1	"i0	"i0	PROPN
cblr-13858	476	1	but	but	CCONJ
cblr-13858	476	2	,	,	PUNCT
cblr-13858	476	3	according	accord	VERB
cblr-13858	476	4	to	to	ADP
cblr-13858	476	5	profounder	profounder	PROPN
cblr-13858	476	6	's	's	PART
cblr-13858	476	7	ceo	ceo	NOUN
cblr-13858	476	8	,	,	PUNCT
cblr-13858	476	9	the	the	DET
cblr-13858	476	10	initial	initial	ADJ
cblr-13858	476	11	fee	fee	NOUN
cblr-13858	476	12	for	for	ADP
cblr-13858	476	13	a	a	DET
cblr-13858	476	14	private	private	ADJ
cblr-13858	476	15	round	round	NOUN
cblr-13858	476	16	was	be	AUX
cblr-13858	476	17	$	$	SYM
cblr-13858	476	18	1,000	1,000	NUM
cblr-13858	476	19	.	.	PUNCT
cblr-13858	477	1	"	"	PUNCT
cblr-13858	477	2	'	'	PUNCT
cblr-13858	477	3	for	for	ADP
cblr-13858	477	4	a	a	DET
cblr-13858	477	5	public	public	ADJ
cblr-13858	477	6	round	round	NOUN
cblr-13858	477	7	,	,	PUNCT
cblr-13858	477	8	the	the	DET
cblr-13858	477	9	entrepreneur	entrepreneur	NOUN
cblr-13858	477	10	had	have	VERB
cblr-13858	477	11	to	to	PART
cblr-13858	477	12	pay	pay	VERB
cblr-13858	477	13	5	5	NUM
cblr-13858	477	14	%	%	NOUN
cblr-13858	477	15	of	of	ADP
cblr-13858	477	16	the	the	DET
cblr-13858	477	17	amount	amount	NOUN
cblr-13858	477	18	raised	raise	VERB
cblr-13858	477	19	if	if	SCONJ
cblr-13858	477	20	the	the	DET
cblr-13858	477	21	fundraising	fundraising	NOUN
cblr-13858	477	22	succeeded	succeed	VERB
cblr-13858	477	23	.	.	PUNCT
cblr-13858	477	24	'	'	PUNCT
cblr-13858	478	1	if	if	SCONJ
cblr-13858	478	2	a	a	DET
cblr-13858	478	3	private	private	ADJ
cblr-13858	478	4	round	round	NOUN
cblr-13858	478	5	was	be	AUX
cblr-13858	478	6	successful	successful	ADJ
cblr-13858	478	7	,	,	PUNCT
cblr-13858	478	8	both	both	CCONJ
cblr-13858	478	9	the	the	DET
cblr-13858	478	10	profounder	profounder	NOUN
cblr-13858	478	11	web	web	NOUN
cblr-13858	478	12	site	site	NOUN
cblr-13858	478	13	and	and	CCONJ
cblr-13858	478	14	one	one	NUM
cblr-13858	478	15	interview	interview	NOUN
cblr-13858	478	16	of	of	ADP
cblr-13858	478	17	its	its	PRON
cblr-13858	478	18	ceo	ceo	NOUN
cblr-13858	478	19	indicated	indicate	VERB
cblr-13858	478	20	that	that	SCONJ
cblr-13858	478	21	the	the	DET
cblr-13858	478	22	entrepreneur	entrepreneur	NOUN
cblr-13858	478	23	had	have	VERB
cblr-13858	478	24	to	to	PART
cblr-13858	478	25	pay	pay	VERB
cblr-13858	478	26	an	an	DET
cblr-13858	478	27	additional	additional	ADJ
cblr-13858	478	28	$	$	SYM
cblr-13858	478	29	1,000.113	1,000.113	NUM
cblr-13858	478	30	but	but	CCONJ
cblr-13858	478	31	the	the	DET
cblr-13858	478	32	ceo	ceo	NOUN
cblr-13858	478	33	indicated	indicate	VERB
cblr-13858	478	34	in	in	ADP
cblr-13858	478	35	another	another	DET
cblr-13858	478	36	interview	interview	NOUN
cblr-13858	478	37	that	that	SCONJ
cblr-13858	478	38	no	no	DET
cblr-13858	478	39	additional	additional	ADJ
cblr-13858	478	40	fee	fee	NOUN
cblr-13858	478	41	was	be	AUX
cblr-13858	478	42	charged	charge	VERB
cblr-13858	478	43	for	for	ADP
cblr-13858	478	44	a	a	DET
cblr-13858	478	45	private	private	ADJ
cblr-13858	478	46	round	round	NOUN
cblr-13858	478	47	-	-	PUNCT
cblr-13858	478	48	that	that	SCONJ
cblr-13858	478	49	entrepreneurs	entrepreneur	NOUN
cblr-13858	478	50	paid	pay	VERB
cblr-13858	478	51	a	a	DET
cblr-13858	478	52	flat	flat	ADJ
cblr-13858	478	53	$	$	SYM
cblr-13858	478	54	1,000	1,000	NUM
cblr-13858	478	55	fee	fee	NOUN
cblr-13858	478	56	,	,	PUNCT
cblr-13858	478	57	whether	whether	SCONJ
cblr-13858	478	58	or	or	CCONJ
cblr-13858	478	59	not	not	PART
cblr-13858	478	60	the	the	DET
cblr-13858	478	61	offering	offering	NOUN
cblr-13858	478	62	succeeded	succeed	VERB
cblr-13858	478	63	.	.	PUNCT
cblr-13858	478	64	"	"	PUNCT
cblr-13858	479	1	4	4	NUM
cblr-13858	479	2	entrepreneurs	entrepreneur	NOUN
cblr-13858	479	3	had	have	VERB
cblr-13858	479	4	thirty	thirty	NUM
cblr-13858	479	5	days	day	NOUN
cblr-13858	479	6	to	to	PART
cblr-13858	479	7	raise	raise	VERB
cblr-13858	479	8	the	the	DET
cblr-13858	479	9	funds	fund	NOUN
cblr-13858	479	10	needed	need	VERB
cblr-13858	479	11	.	.	PUNCT
cblr-13858	480	1	"	"	PUNCT
cblr-13858	480	2	'	'	PUNCT
cblr-13858	480	3	if	if	SCONJ
cblr-13858	480	4	entrepreneurs	entrepreneur	NOUN
cblr-13858	480	5	failed	fail	VERB
cblr-13858	480	6	to	to	PART
cblr-13858	480	7	reach	reach	VERB
cblr-13858	480	8	their	their	PRON
cblr-13858	480	9	goal	goal	NOUN
cblr-13858	480	10	,	,	PUNCT
cblr-13858	480	11	they	they	PRON
cblr-13858	480	12	10	10	NUM
cblr-13858	480	13	'	'	PUNCT
cblr-13858	480	14	lang	lang	PROPN
cblr-13858	480	15	,	,	PUNCT
cblr-13858	480	16	supra	supra	PROPN
cblr-13858	480	17	note	note	NOUN
cblr-13858	480	18	106	106	NUM
cblr-13858	480	19	.	.	PUNCT
cblr-13858	481	1	108	108	NUM
cblr-13858	482	1	i	i	PRON
cblr-13858	482	2	d.	d.	PROPN
cblr-13858	482	3	109	109	NUM
cblr-13858	482	4	investment	investment	NOUN
cblr-13858	482	5	terms	term	NOUN
cblr-13858	482	6	,	,	PUNCT
cblr-13858	482	7	profounder	profounder	NOUN
cblr-13858	482	8	,	,	PUNCT
cblr-13858	482	9	https://www.profounder.com/inve	https://www.profounder.com/inve	PROPN
cblr-13858	482	10	stors	stor	NOUN
cblr-13858	482	11	/	/	SYM
cblr-13858	482	12	investment	investment	NOUN
cblr-13858	482	13	-	-	PUNCT
cblr-13858	482	14	terms/	terms/	NUM
cblr-13858	482	15	(	(	PUNCT
cblr-13858	482	16	last	last	ADV
cblr-13858	482	17	visited	visit	VERB
cblr-13858	482	18	mar	mar	PROPN
cblr-13858	482	19	.	.	PROPN
cblr-13858	482	20	5	5	NUM
cblr-13858	482	21	,	,	PUNCT
cblr-13858	482	22	2012	2012	NUM
cblr-13858	482	23	)	)	PUNCT
cblr-13858	482	24	.	.	PUNCT
cblr-13858	483	1	no	no	DET
cblr-13858	483	2	faqs	faqs	NOUN
cblr-13858	483	3	,	,	PUNCT
cblr-13858	483	4	profounder	profounder	NOUN
cblr-13858	483	5	,	,	PUNCT
cblr-13858	483	6	http://www.profounder.com/entrepreneurs/faq	http://www.profounder.com/entrepreneurs/faq	PROPN
cblr-13858	483	7	(	(	PUNCT
cblr-13858	483	8	last	last	ADV
cblr-13858	483	9	visited	visit	VERB
cblr-13858	483	10	mar	mar	PROPN
cblr-13858	483	11	.	.	PROPN
cblr-13858	483	12	5	5	NUM
cblr-13858	483	13	,	,	PUNCT
cblr-13858	483	14	2012	2012	NUM
cblr-13858	483	15	)	)	PUNCT
cblr-13858	483	16	.	.	PUNCT
cblr-13858	484	1	see	see	VERB
cblr-13858	484	2	also	also	ADV
cblr-13858	484	3	lang	lang	PROPN
cblr-13858	484	4	,	,	PUNCT
cblr-13858	484	5	supra	supra	PROPN
cblr-13858	484	6	note	note	NOUN
cblr-13858	484	7	106	106	NUM
cblr-13858	484	8	.	.	PUNCT
cblr-13858	485	1	n.	n.	NOUN
cblr-13858	485	2	is	be	AUX
cblr-13858	485	3	profounder	profounder	NOUN
cblr-13858	485	4	in	in	ADP
cblr-13858	485	5	violation	violation	NOUN
cblr-13858	485	6	of	of	ADP
cblr-13858	485	7	any	any	DET
cblr-13858	485	8	securities	security	NOUN
cblr-13858	485	9	laws	law	NOUN
cblr-13858	485	10	with	with	ADP
cblr-13858	485	11	their	their	PRON
cblr-13858	485	12	crowdsourced	crowdsourced	ADJ
cblr-13858	485	13	model	model	NOUN
cblr-13858	485	14	for	for	ADP
cblr-13858	485	15	funding	funding	NOUN
cblr-13858	485	16	startups	startup	NOUN
cblr-13858	485	17	?	?	PUNCT
cblr-13858	485	18	,	,	PUNCT
cblr-13858	485	19	quora	quora	PROPN
cblr-13858	485	20	(	(	PUNCT
cblr-13858	485	21	nov	nov	PROPN
cblr-13858	485	22	.	.	PROPN
cblr-13858	485	23	30	30	NUM
cblr-13858	485	24	,	,	PUNCT
cblr-13858	485	25	2010	2010	NUM
cblr-13858	485	26	)	)	PUNCT
cblr-13858	485	27	,	,	PUNCT
cblr-13858	485	28	http://www.quora.com/profounder/is-profounder-in-violation-of-any-secur	http://www.quora.com/profounder/is-profounder-in-violation-of-any-secur	NOUN
cblr-13858	485	29	ities	itie	NOUN
cblr-13858	485	30	-	-	PUNCT
cblr-13858	485	31	laws	law	NOUN
cblr-13858	485	32	-	-	PUNCT
cblr-13858	485	33	with	with	ADP
cblr-13858	485	34	-	-	PUNCT
cblr-13858	485	35	their	their	PRON
cblr-13858	485	36	-	-	PUNCT
cblr-13858	485	37	crowdsourced	crowdsource	VERB
cblr-13858	485	38	-	-	PUNCT
cblr-13858	485	39	model	model	NOUN
cblr-13858	485	40	-	-	PUNCT
cblr-13858	485	41	for	for	ADP
cblr-13858	485	42	-	-	PUNCT
cblr-13858	485	43	funding	funding	NOUN
cblr-13858	485	44	-	-	PUNCT
cblr-13858	485	45	startups	startup	NOUN
cblr-13858	485	46	.	.	PUNCT
cblr-13858	486	1	112	112	NUM
cblr-13858	486	2	company	company	NOUN
cblr-13858	486	3	terms	term	NOUN
cblr-13858	486	4	and	and	CCONJ
cblr-13858	486	5	conditions	condition	NOUN
cblr-13858	486	6	for	for	ADP
cblr-13858	486	7	services	service	NOUN
cblr-13858	486	8	,	,	PUNCT
cblr-13858	486	9	profounder	profounder	NOUN
cblr-13858	486	10	,	,	PUNCT
cblr-13858	486	11	https://www.profounder.com/legal/terms-andconditions	https://www.profounder.com/legal/terms-andconditions	PROPN
cblr-13858	486	12	(	(	PUNCT
cblr-13858	486	13	last	last	ADJ
cblr-13858	486	14	visited	visit	VERB
cblr-13858	486	15	mar	mar	PROPN
cblr-13858	486	16	.	.	PROPN
cblr-13858	486	17	5	5	NUM
cblr-13858	486	18	,	,	PUNCT
cblr-13858	486	19	2012	2012	NUM
cblr-13858	486	20	)	)	PUNCT
cblr-13858	486	21	;	;	PUNCT
cblr-13858	486	22	is	be	AUX
cblr-13858	486	23	profounder	profounder	NOUN
cblr-13858	486	24	in	in	ADP
cblr-13858	486	25	violation	violation	NOUN
cblr-13858	486	26	of	of	ADP
cblr-13858	486	27	any	any	DET
cblr-13858	486	28	securities	security	NOUN
cblr-13858	486	29	laws	law	NOUN
cblr-13858	486	30	with	with	ADP
cblr-13858	486	31	their	their	PRON
cblr-13858	486	32	crowdsourced	crowdsourced	ADJ
cblr-13858	486	33	model	model	NOUN
cblr-13858	486	34	for	for	ADP
cblr-13858	486	35	funding	funding	NOUN
cblr-13858	486	36	startups	startup	NOUN
cblr-13858	486	37	?	?	PUNCT
cblr-13858	486	38	,	,	PUNCT
cblr-13858	486	39	supra	supra	PROPN
cblr-13858	486	40	note	note	VERB
cblr-13858	486	41	111	111	NUM
cblr-13858	486	42	.	.	NOUN
cblr-13858	486	43	113	113	NUM
cblr-13858	486	44	faqs	faq	NOUN
cblr-13858	486	45	,	,	PUNCT
cblr-13858	486	46	profounder	profounder	NOUN
cblr-13858	486	47	,	,	PUNCT
cblr-13858	486	48	supra	supra	PROPN
cblr-13858	486	49	note	note	NOUN
cblr-13858	486	50	110	110	NUM
cblr-13858	486	51	.	.	PUNCT
cblr-13858	487	1	see	see	VERB
cblr-13858	487	2	also	also	ADV
cblr-13858	487	3	lang	lang	PROPN
cblr-13858	487	4	,	,	PUNCT
cblr-13858	487	5	supra	supra	PROPN
cblr-13858	487	6	note	note	PROPN
cblr-13858	487	7	106	106	NUM
cblr-13858	487	8	;	;	PUNCT
cblr-13858	487	9	ferner	ferner	NOUN
cblr-13858	487	10	,	,	PUNCT
cblr-13858	487	11	supra	supra	PROPN
cblr-13858	487	12	note	note	NOUN
cblr-13858	487	13	103	103	NUM
cblr-13858	487	14	.	.	X
cblr-13858	488	1	114	114	NUM
cblr-13858	488	2	see	see	NOUN
cblr-13858	488	3	is	be	AUX
cblr-13858	488	4	profounder	profounder	NOUN
cblr-13858	488	5	in	in	ADP
cblr-13858	488	6	violation	violation	NOUN
cblr-13858	488	7	of	of	ADP
cblr-13858	488	8	any	any	DET
cblr-13858	488	9	securities	security	NOUN
cblr-13858	488	10	laws	law	NOUN
cblr-13858	488	11	with	with	ADP
cblr-13858	488	12	their	their	PRON
cblr-13858	488	13	crowdsourced	crowdsourced	ADJ
cblr-13858	488	14	model	model	NOUN
cblr-13858	488	15	for	for	ADP
cblr-13858	488	16	funding	funding	NOUN
cblr-13858	488	17	startups	startup	NOUN
cblr-13858	488	18	?	?	PUNCT
cblr-13858	488	19	,	,	PUNCT
cblr-13858	488	20	supra	supra	PROPN
cblr-13858	488	21	note	note	VERB
cblr-13858	488	22	111	111	NUM
cblr-13858	488	23	(	(	PUNCT
cblr-13858	488	24	statement	statement	NOUN
cblr-13858	488	25	by	by	ADP
cblr-13858	488	26	jessica	jessica	PROPN
cblr-13858	488	27	jackley	jackley	PROPN
cblr-13858	488	28	)	)	PUNCT
cblr-13858	488	29	.	.	PUNCT
cblr-13858	489	1	115	115	NUM
cblr-13858	489	2	faqs	faq	NOUN
cblr-13858	489	3	,	,	PUNCT
cblr-13858	489	4	profounder	profounder	NOUN
cblr-13858	489	5	,	,	PUNCT
cblr-13858	489	6	supra	supra	PROPN
cblr-13858	489	7	note	note	NOUN
cblr-13858	489	8	110	110	NUM
cblr-13858	489	9	.	.	PUNCT
cblr-13858	489	10	26	26	NUM
cblr-13858	490	1	[	[	X
cblr-13858	490	2	vol	vol	NOUN
cblr-13858	490	3	.	.	PUNCT
cblr-13858	490	4	2012	2012	NUM
cblr-13858	490	5	crowdfunding	crowdfunding	NOUN
cblr-13858	490	6	and	and	CCONJ
cblr-13858	490	7	securities	security	NOUN
cblr-13858	490	8	la	la	PRON
cblr-13858	490	9	ws	ws	PROPN
cblr-13858	490	10	received	receive	VERB
cblr-13858	490	11	none	none	NOUN
cblr-13858	490	12	of	of	ADP
cblr-13858	490	13	the	the	DET
cblr-13858	490	14	pledged	pledge	VERB
cblr-13858	490	15	funds	fund	NOUN
cblr-13858	490	16	.	.	PUNCT
cblr-13858	491	1	"	"	PUNCT
cblr-13858	491	2	'	'	PUNCT
cblr-13858	491	3	investors	investor	NOUN
cblr-13858	491	4	did	do	AUX
cblr-13858	491	5	not	not	PART
cblr-13858	491	6	sign	sign	VERB
cblr-13858	491	7	term	term	NOUN
cblr-13858	491	8	sheets	sheet	NOUN
cblr-13858	491	9	or	or	CCONJ
cblr-13858	491	10	make	make	VERB
cblr-13858	491	11	any	any	DET
cblr-13858	491	12	payments	payment	NOUN
cblr-13858	491	13	until	until	SCONJ
cblr-13858	491	14	the	the	DET
cblr-13858	491	15	goal	goal	NOUN
cblr-13858	491	16	was	be	AUX
cblr-13858	491	17	met	meet	VERB
cblr-13858	491	18	.	.	PUNCT
cblr-13858	492	1	c.	c.	NOUN
cblr-13858	493	1	the	the	DET
cblr-13858	493	2	antecedents	antecedent	NOUN
cblr-13858	493	3	of	of	ADP
cblr-13858	493	4	crowdfunding	crowdfunde	VERB
cblr-13858	493	5	internet	internet	NOUN
cblr-13858	493	6	-	-	PUNCT
cblr-13858	493	7	based	base	VERB
cblr-13858	493	8	crowdfunding	crowdfunding	NOUN
cblr-13858	493	9	is	be	AUX
cblr-13858	493	10	a	a	DET
cblr-13858	493	11	merger	merger	NOUN
cblr-13858	493	12	of	of	ADP
cblr-13858	493	13	two	two	NUM
cblr-13858	493	14	distinct	distinct	ADJ
cblr-13858	493	15	antecedents	antecedent	NOUN
cblr-13858	493	16	:	:	PUNCT
cblr-13858	493	17	crowdsourcing	crowdsourcing	NOUN
cblr-13858	493	18	and	and	CCONJ
cblr-13858	493	19	microfinance	microfinance	NOUN
cblr-13858	493	20	.	.	PUNCT
cblr-13858	494	1	"	"	PUNCT
cblr-13858	494	2	7	7	NUM
cblr-13858	494	3	crowdsourcing	crowdsourcing	NOUN
cblr-13858	494	4	is	be	AUX
cblr-13858	494	5	,	,	PUNCT
cblr-13858	494	6	quite	quite	ADV
cblr-13858	494	7	simply	simply	ADV
cblr-13858	494	8	,	,	PUNCT
cblr-13858	494	9	"	"	PUNCT
cblr-13858	494	10	collecting	collect	VERB
cblr-13858	494	11	contributions	contribution	NOUN
cblr-13858	494	12	from	from	ADP
cblr-13858	494	13	many	many	ADJ
cblr-13858	494	14	individuals	individual	NOUN
cblr-13858	494	15	to	to	PART
cblr-13858	494	16	achieve	achieve	VERB
cblr-13858	494	17	a	a	DET
cblr-13858	494	18	goal	goal	NOUN
cblr-13858	494	19	.	.	PUNCT
cblr-13858	495	1	"	"	PUNCT
cblr-13858	495	2	"	"	PUNCT
cblr-13858	495	3	'	'	PUNCT
cblr-13858	495	4	it	it	PRON
cblr-13858	495	5	divides	divide	VERB
cblr-13858	495	6	"	"	PUNCT
cblr-13858	495	7	an	an	DET
cblr-13858	495	8	overwhelming	overwhelming	ADJ
cblr-13858	495	9	task	task	NOUN
cblr-13858	495	10	.	.	PUNCT
cblr-13858	495	11	.	.	PUNCT
cblr-13858	496	1	.	.	PUNCT
cblr-13858	497	1	into	into	ADP
cblr-13858	497	2	small	small	ADJ
cblr-13858	497	3	enough	enough	ADJ
cblr-13858	497	4	chunks	chunk	NOUN
cblr-13858	497	5	that	that	SCONJ
cblr-13858	497	6	completing	complete	VERB
cblr-13858	497	7	it	it	PRON
cblr-13858	497	8	becomes	become	VERB
cblr-13858	497	9	.	.	PUNCT
cblr-13858	497	10	.	.	PUNCT
cblr-13858	497	11	.	.	PUNCT
cblr-13858	498	1	feasible	feasible	ADJ
cblr-13858	498	2	.	.	PUNCT
cblr-13858	499	1	""9	""9	PROPN
cblr-13858	499	2	wikipedia	wikipedia	PROPN
cblr-13858	499	3	is	be	AUX
cblr-13858	499	4	probably	probably	ADV
cblr-13858	499	5	the	the	DET
cblr-13858	499	6	most	most	ADV
cblr-13858	499	7	prominent	prominent	ADJ
cblr-13858	499	8	example	example	NOUN
cblr-13858	499	9	of	of	ADP
cblr-13858	499	10	crowdsourcing	crowdsourcing	NOUN
cblr-13858	499	11	-	-	PUNCT
cblr-13858	499	12	an	an	DET
cblr-13858	499	13	entire	entire	ADJ
cblr-13858	499	14	encyclopedia	encyclopedia	NOUN
cblr-13858	499	15	consisting	consist	VERB
cblr-13858	499	16	of	of	ADP
cblr-13858	499	17	articles	article	NOUN
cblr-13858	499	18	written	write	VERB
cblr-13858	499	19	and	and	CCONJ
cblr-13858	499	20	edited	edit	VERB
cblr-13858	499	21	by	by	ADP
cblr-13858	499	22	the	the	DET
cblr-13858	499	23	general	general	ADJ
cblr-13858	499	24	public.120	public.120	PROPN
cblr-13858	499	25	linux	linux	PROPN
cblr-13858	499	26	,	,	PUNCT
cblr-13858	499	27	the	the	DET
cblr-13858	499	28	open	open	ADJ
cblr-13858	499	29	-	-	PUNCT
cblr-13858	499	30	source	source	NOUN
cblr-13858	499	31	computer	computer	NOUN
cblr-13858	499	32	operating	operating	NOUN
cblr-13858	499	33	system	system	NOUN
cblr-13858	499	34	,	,	PUNCT
cblr-13858	499	35	was	be	AUX
cblr-13858	499	36	developed	develop	VERB
cblr-13858	499	37	through	through	ADP
cblr-13858	499	38	crowdsourcing	crowdsourcing	NOUN
cblr-13858	499	39	,	,	PUNCT
cblr-13858	499	40	and	and	CCONJ
cblr-13858	499	41	other	other	ADJ
cblr-13858	499	42	software	software	NOUN
cblr-13858	499	43	companies	company	NOUN
cblr-13858	499	44	,	,	PUNCT
cblr-13858	499	45	including	include	VERB
cblr-13858	499	46	ibm	ibm	PROPN
cblr-13858	499	47	,	,	PUNCT
cblr-13858	499	48	have	have	AUX
cblr-13858	499	49	adopted	adopt	VERB
cblr-13858	499	50	the	the	DET
cblr-13858	499	51	opensource	opensource	PROPN
cblr-13858	499	52	model.12	model.12	PROPN
cblr-13858	499	53	'	'	PUNCT
cblr-13858	499	54	from	from	ADP
cblr-13858	499	55	astronomy	astronomy	NOUN
cblr-13858	499	56	to	to	ADP
cblr-13858	499	57	stock	stock	NOUN
cblr-13858	499	58	photography	photography	NOUN
cblr-13858	499	59	to	to	PART
cblr-13858	499	60	"	"	PUNCT
cblr-13858	499	61	prediction	prediction	NOUN
cblr-13858	499	62	markets	market	NOUN
cblr-13858	499	63	"	"	PUNCT
cblr-13858	499	64	to	to	ADP
cblr-13858	499	65	ebay	ebay	PROPN
cblr-13858	499	66	,	,	PUNCT
cblr-13858	499	67	platforms	platform	NOUN
cblr-13858	499	68	based	base	VERB
cblr-13858	499	69	on	on	ADP
cblr-13858	499	70	the	the	DET
cblr-13858	499	71	116	116	NUM
cblr-13858	499	72	company	company	NOUN
cblr-13858	499	73	terms	term	NOUN
cblr-13858	499	74	and	and	CCONJ
cblr-13858	499	75	conditions	condition	NOUN
cblr-13858	499	76	for	for	ADP
cblr-13858	499	77	services	service	NOUN
cblr-13858	499	78	,	,	PUNCT
cblr-13858	499	79	profounder	profounder	NOUN
cblr-13858	499	80	,	,	PUNCT
cblr-13858	499	81	supra	supra	PROPN
cblr-13858	499	82	note	note	NOUN
cblr-13858	499	83	112	112	NUM
cblr-13858	499	84	.	.	PUNCT
cblr-13858	500	1	117	117	NUM
cblr-13858	500	2	see	see	VERB
cblr-13858	500	3	belleflamme	belleflamme	PROPN
cblr-13858	500	4	et	et	PROPN
cblr-13858	500	5	al	al	PROPN
cblr-13858	500	6	.	.	PROPN
cblr-13858	500	7	,	,	PUNCT
cblr-13858	500	8	supra	supra	PROPN
cblr-13858	500	9	note	note	PROPN
cblr-13858	500	10	10	10	NUM
cblr-13858	500	11	,	,	PUNCT
cblr-13858	500	12	at	at	ADP
cblr-13858	500	13	2	2	NUM
cblr-13858	500	14	(	(	PUNCT
cblr-13858	500	15	stating	state	VERB
cblr-13858	500	16	that	that	SCONJ
cblr-13858	500	17	crowdfunding	crowdfunding	NOUN
cblr-13858	500	18	is	be	AUX
cblr-13858	500	19	rooted	root	VERB
cblr-13858	500	20	in	in	ADP
cblr-13858	500	21	crowdsourcing	crowdsourcing	NOUN
cblr-13858	500	22	)	)	PUNCT
cblr-13858	500	23	;	;	PUNCT
cblr-13858	500	24	when	when	SCONJ
cblr-13858	500	25	small	small	ADJ
cblr-13858	500	26	loans	loan	NOUN
cblr-13858	500	27	make	make	VERB
cblr-13858	500	28	a	a	DET
cblr-13858	500	29	big	big	ADJ
cblr-13858	500	30	difference	difference	NOUN
cblr-13858	500	31	,	,	PUNCT
cblr-13858	500	32	forbes.com	forbes.com	X
cblr-13858	500	33	(	(	PUNCT
cblr-13858	500	34	june	june	PROPN
cblr-13858	500	35	3	3	NUM
cblr-13858	500	36	,	,	PUNCT
cblr-13858	500	37	2008	2008	NUM
cblr-13858	500	38	,	,	PUNCT
cblr-13858	500	39	4:08	4:08	NUM
cblr-13858	500	40	pm	pm	NOUN
cblr-13858	500	41	)	)	PUNCT
cblr-13858	500	42	,	,	PUNCT
cblr-13858	500	43	http://www.forbes.com/	http://www.forbes.com/	ADJ
cblr-13858	500	44	2008/06/03	2008/06/03	NUM
cblr-13858	500	45	/	/	SYM
cblr-13858	500	46	kiva	kiva	NOUN
cblr-13858	500	47	-	-	PUNCT
cblr-13858	500	48	microfinance	microfinance	NOUN
cblr-13858	500	49	-	-	PUNCT
cblr-13858	500	50	uganda	uganda	NOUN
cblr-13858	500	51	-	-	PUNCT
cblr-13858	500	52	ent	ent	NOUN
cblr-13858	500	53	-	-	PUNCT
cblr-13858	500	54	fin	fin	NOUN
cblr-13858	500	55	-	-	PUNCT
cblr-13858	500	56	cx_0603whartonkiva.html	cx_0603whartonkiva.html	NOUN
cblr-13858	500	57	(	(	PUNCT
cblr-13858	500	58	noting	note	VERB
cblr-13858	500	59	that	that	SCONJ
cblr-13858	500	60	crowdfunding	crowdfunding	NOUN
cblr-13858	500	61	is	be	AUX
cblr-13858	500	62	a	a	DET
cblr-13858	500	63	merger	merger	NOUN
cblr-13858	500	64	of	of	ADP
cblr-13858	500	65	social	social	ADJ
cblr-13858	500	66	networking	networking	NOUN
cblr-13858	500	67	and	and	CCONJ
cblr-13858	500	68	microfinance	microfinance	NOUN
cblr-13858	500	69	)	)	PUNCT
cblr-13858	500	70	;	;	PUNCT
cblr-13858	500	71	nick	nick	PROPN
cblr-13858	500	72	mendoza	mendoza	PROPN
cblr-13858	500	73	,	,	PUNCT
cblr-13858	500	74	how	how	SCONJ
cblr-13858	500	75	filmmakers	filmmaker	NOUN
cblr-13858	500	76	use	use	VERB
cblr-13858	500	77	crowdfunding	crowdfunde	VERB
cblr-13858	500	78	to	to	ADP
cblr-13858	500	79	kickstart	kickstart	NOUN
cblr-13858	500	80	productions	production	NOUN
cblr-13858	500	81	,	,	PUNCT
cblr-13858	500	82	pbs	pbs	PROPN
cblr-13858	500	83	mediashift	mediashift	PROPN
cblr-13858	500	84	(	(	PUNCT
cblr-13858	500	85	sept	sept	PROPN
cblr-13858	500	86	.	.	PROPN
cblr-13858	500	87	21	21	NUM
cblr-13858	500	88	,	,	PUNCT
cblr-13858	500	89	2010	2010	NUM
cblr-13858	500	90	)	)	PUNCT
cblr-13858	500	91	,	,	PUNCT
cblr-13858	500	92	http://www.pbs.org/mediashift/2010/09/how-filmmakers-use-crowdfundingto-kickstart-productions264.html	http://www.pbs.org/mediashift/2010/09/how-filmmakers-use-crowdfundingto-kickstart-productions264.html	PROPN
cblr-13858	500	93	(	(	PUNCT
cblr-13858	500	94	describing	describe	VERB
cblr-13858	500	95	crowdfunding	crowdfunding	NOUN
cblr-13858	500	96	as	as	ADP
cblr-13858	500	97	a	a	DET
cblr-13858	500	98	mix	mix	NOUN
cblr-13858	500	99	of	of	ADP
cblr-13858	500	100	crowdsourcing	crowdsourcing	NOUN
cblr-13858	500	101	,	,	PUNCT
cblr-13858	500	102	marketing	marketing	NOUN
cblr-13858	500	103	and	and	CCONJ
cblr-13858	500	104	fundraising	fundraising	NOUN
cblr-13858	500	105	)	)	PUNCT
cblr-13858	500	106	;	;	PUNCT
cblr-13858	500	107	schwienbacher	schwienbacher	PROPN
cblr-13858	500	108	&	&	CCONJ
cblr-13858	500	109	larralde	larralde	PROPN
cblr-13858	500	110	,	,	PUNCT
cblr-13858	500	111	supra	supra	PROPN
cblr-13858	500	112	note	note	PROPN
cblr-13858	500	113	14	14	NUM
cblr-13858	500	114	,	,	PUNCT
cblr-13858	500	115	at	at	ADP
cblr-13858	500	116	5	5	NUM
cblr-13858	500	117	.	.	PUNCT
cblr-13858	500	118	n	n	PROPN
cblr-13858	500	119	..	..	PUNCT
cblr-13858	500	120	tina	tina	PROPN
cblr-13858	500	121	rosenberg	rosenberg	PROPN
cblr-13858	500	122	,	,	PUNCT
cblr-13858	500	123	crowdsourcing	crowdsource	VERB
cblr-13858	500	124	a	a	DET
cblr-13858	500	125	better	well	ADJ
cblr-13858	500	126	world	world	NOUN
cblr-13858	500	127	,	,	PUNCT
cblr-13858	500	128	n.y	n.y	PROPN
cblr-13858	500	129	.	.	PROPN
cblr-13858	501	1	times.com	times.com	X
cblr-13858	501	2	opinionator	opinionator	NOUN
cblr-13858	501	3	(	(	PUNCT
cblr-13858	501	4	mar	mar	PROPN
cblr-13858	501	5	.	.	PROPN
cblr-13858	501	6	28	28	NUM
cblr-13858	501	7	,	,	PUNCT
cblr-13858	501	8	2011	2011	NUM
cblr-13858	501	9	,	,	PUNCT
cblr-13858	501	10	9:15	9:15	NUM
cblr-13858	501	11	pm	pm	NOUN
cblr-13858	501	12	)	)	PUNCT
cblr-13858	501	13	,	,	PUNCT
cblr-13858	501	14	http://opinionator.blogs	http://opinionator.blogs	PROPN
cblr-13858	501	15	.	.	PUNCT
cblr-13858	501	16	nytimes.com/2011/03/28/crowdsourcing-a-better-world	nytimes.com/2011/03/28/crowdsourcing-a-better-world	NOUN
cblr-13858	501	17	.	.	PUNCT
cblr-13858	502	1	119	119	NUM
cblr-13858	502	2	howe	howe	NOUN
cblr-13858	502	3	,	,	PUNCT
cblr-13858	502	4	supra	supra	PROPN
cblr-13858	502	5	note	note	NOUN
cblr-13858	502	6	1	1	NUM
cblr-13858	502	7	,	,	PUNCT
cblr-13858	502	8	at	at	ADP
cblr-13858	502	9	11	11	NUM
cblr-13858	502	10	.	.	PUNCT
cblr-13858	502	11	120	120	NUM
cblr-13858	502	12	see	see	VERB
cblr-13858	502	13	chris	chris	PROPN
cblr-13858	502	14	anderson	anderson	PROPN
cblr-13858	502	15	,	,	PUNCT
cblr-13858	502	16	the	the	DET
cblr-13858	502	17	long	long	ADJ
cblr-13858	502	18	tail	tail	NOUN
cblr-13858	502	19	:	:	PUNCT
cblr-13858	502	20	why	why	SCONJ
cblr-13858	502	21	the	the	DET
cblr-13858	502	22	future	future	NOUN
cblr-13858	502	23	of	of	ADP
cblr-13858	502	24	business	business	NOUN
cblr-13858	502	25	is	be	AUX
cblr-13858	502	26	selling	sell	VERB
cblr-13858	502	27	less	less	ADJ
cblr-13858	502	28	of	of	ADP
cblr-13858	502	29	more	more	ADJ
cblr-13858	502	30	65	65	NUM
cblr-13858	502	31	-	-	SYM
cblr-13858	502	32	70	70	NUM
cblr-13858	502	33	(	(	PUNCT
cblr-13858	502	34	2006	2006	NUM
cblr-13858	502	35	)	)	PUNCT
cblr-13858	502	36	;	;	PUNCT
cblr-13858	502	37	howe	howe	NOUN
cblr-13858	502	38	,	,	PUNCT
cblr-13858	502	39	supra	supra	PROPN
cblr-13858	502	40	note	note	NOUN
cblr-13858	502	41	1	1	NUM
cblr-13858	502	42	,	,	PUNCT
cblr-13858	502	43	at	at	ADP
cblr-13858	502	44	56	56	NUM
cblr-13858	502	45	-	-	SYM
cblr-13858	502	46	61	61	NUM
cblr-13858	502	47	;	;	PUNCT
cblr-13858	502	48	don	don	PROPN
cblr-13858	502	49	tapscott	tapscott	PROPN
cblr-13858	502	50	&	&	CCONJ
cblr-13858	502	51	anthony	anthony	PROPN
cblr-13858	502	52	d.	d.	PROPN
cblr-13858	502	53	williams	williams	PROPN
cblr-13858	502	54	,	,	PUNCT
cblr-13858	502	55	wiinomics	wiinomic	NOUN
cblr-13858	502	56	:	:	PUNCT
cblr-13858	502	57	how	how	SCONJ
cblr-13858	502	58	mass	mass	ADJ
cblr-13858	502	59	collaboration	collaboration	NOUN
cblr-13858	502	60	changes	change	VERB
cblr-13858	502	61	everything	everything	PRON
cblr-13858	502	62	71	71	NUM
cblr-13858	502	63	-	-	SYM
cblr-13858	502	64	77	77	NUM
cblr-13858	502	65	(	(	PUNCT
cblr-13858	502	66	2006	2006	NUM
cblr-13858	502	67	)	)	PUNCT
cblr-13858	502	68	.	.	PUNCT
cblr-13858	502	69	"	"	PUNCT
cblr-13858	503	1	see	see	VERB
cblr-13858	503	2	howe	howe	NOUN
cblr-13858	503	3	,	,	PUNCT
cblr-13858	503	4	supra	supra	PROPN
cblr-13858	503	5	note	note	NOUN
cblr-13858	503	6	1	1	NUM
cblr-13858	503	7	,	,	PUNCT
cblr-13858	503	8	at	at	ADP
cblr-13858	503	9	47	47	NUM
cblr-13858	503	10	-	-	SYM
cblr-13858	503	11	70	70	NUM
cblr-13858	503	12	;	;	PUNCT
cblr-13858	503	13	clay	clay	NOUN
cblr-13858	503	14	shirky	shirky	NOUN
cblr-13858	503	15	,	,	PUNCT
cblr-13858	503	16	here	here	ADV
cblr-13858	503	17	comes	come	VERB
cblr-13858	503	18	everybody	everybody	PRON
cblr-13858	503	19	:	:	PUNCT
cblr-13858	503	20	the	the	DET
cblr-13858	503	21	power	power	NOUN
cblr-13858	503	22	of	of	ADP
cblr-13858	503	23	organizing	organize	VERB
cblr-13858	503	24	without	without	ADP
cblr-13858	503	25	organizations	organization	NOUN
cblr-13858	503	26	237	237	NUM
cblr-13858	503	27	-	-	SYM
cblr-13858	503	28	43	43	NUM
cblr-13858	503	29	(	(	PUNCT
cblr-13858	503	30	2008	2008	NUM
cblr-13858	503	31	)	)	PUNCT
cblr-13858	503	32	;	;	PUNCT
cblr-13858	503	33	tapscott	tapscott	PROPN
cblr-13858	503	34	&	&	CCONJ
cblr-13858	503	35	williams	williams	PROPN
cblr-13858	503	36	,	,	PUNCT
cblr-13858	503	37	supra	supra	PROPN
cblr-13858	503	38	note	note	NOUN
cblr-13858	503	39	120	120	NUM
cblr-13858	503	40	,	,	PUNCT
cblr-13858	503	41	at	at	ADP
cblr-13858	503	42	77	77	NUM
cblr-13858	503	43	-	-	SYM
cblr-13858	503	44	83	83	NUM
cblr-13858	503	45	.	.	PUNCT
cblr-13858	504	1	no	no	INTJ
cblr-13858	504	2	.	.	NOUN
cblr-13858	505	1	1	1	NUM
cblr-13858	505	2	:	:	SYM
cblr-13858	505	3	1	1	NUM
cblr-13858	505	4	]	]	SYM
cblr-13858	505	5	27	27	NUM
cblr-13858	505	6	columbia	columbia	PROPN
cblr-13858	505	7	business	business	NOUN
cblr-13858	505	8	law	law	PROPN
cblr-13858	505	9	re	re	AUX
cblr-13858	505	10	view	view	VERB
cblr-13858	505	11	collective	collective	ADJ
cblr-13858	505	12	contributions	contribution	NOUN
cblr-13858	505	13	of	of	ADP
cblr-13858	505	14	a	a	DET
cblr-13858	505	15	large	large	ADJ
cblr-13858	505	16	number	number	NOUN
cblr-13858	505	17	of	of	ADP
cblr-13858	505	18	people	people	NOUN
cblr-13858	505	19	are	be	AUX
cblr-13858	505	20	commonplace	commonplace	ADJ
cblr-13858	505	21	today.122	today.122	NUM
cblr-13858	505	22	even	even	ADV
cblr-13858	505	23	the	the	DET
cblr-13858	505	24	all	all	ADV
cblr-13858	505	25	-	-	PUNCT
cblr-13858	505	26	pervasive	pervasive	ADJ
cblr-13858	505	27	google	google	PROPN
cblr-13858	505	28	search	search	NOUN
cblr-13858	505	29	system	system	NOUN
cblr-13858	505	30	is	be	AUX
cblr-13858	505	31	crowdsourcing	crowdsource	VERB
cblr-13858	505	32	;	;	PUNCT
cblr-13858	505	33	google	google	PROPN
cblr-13858	505	34	's	's	PART
cblr-13858	505	35	algorithm	algorithm	NOUN
cblr-13858	505	36	captures	capture	VERB
cblr-13858	505	37	the	the	DET
cblr-13858	505	38	sites	site	NOUN
cblr-13858	505	39	that	that	PRON
cblr-13858	505	40	everyone	everyone	PRON
cblr-13858	505	41	collectively	collectively	ADV
cblr-13858	505	42	is	be	AUX
cblr-13858	505	43	linking	link	VERB
cblr-13858	505	44	to	to	ADP
cblr-13858	505	45	and	and	CCONJ
cblr-13858	505	46	visiting	visit	VERB
cblr-13858	505	47	.	.	PUNCT
cblr-13858	505	48	'2	'2	PROPN
cblr-13858	506	1	3	3	NUM
cblr-13858	506	2	the	the	DET
cblr-13858	506	3	internet	internet	NOUN
cblr-13858	506	4	significantly	significantly	ADV
cblr-13858	506	5	reduces	reduce	VERB
cblr-13858	506	6	the	the	DET
cblr-13858	506	7	transaction	transaction	NOUN
cblr-13858	506	8	costs	cost	NOUN
cblr-13858	506	9	of	of	ADP
cblr-13858	506	10	decentralized	decentralize	VERB
cblr-13858	506	11	group	group	NOUN
cblr-13858	506	12	action	action	NOUN
cblr-13858	506	13	2	2	NUM
cblr-13858	506	14	'	'	PUNCT
cblr-13858	506	15	and	and	CCONJ
cblr-13858	506	16	"	"	PUNCT
cblr-13858	506	17	opens	open	VERB
cblr-13858	506	18	.	.	PUNCT
cblr-13858	506	19	.	.	PUNCT
cblr-13858	506	20	.	.	PUNCT
cblr-13858	507	1	the	the	DET
cblr-13858	507	2	economy	economy	NOUN
cblr-13858	507	3	to	to	ADP
cblr-13858	507	4	new	new	ADJ
cblr-13858	507	5	linux	linux	PROPN
cblr-13858	507	6	-	-	PUNCT
cblr-13858	507	7	like	like	ADJ
cblr-13858	507	8	projects	project	NOUN
cblr-13858	507	9	every	every	DET
cblr-13858	507	10	day	day	NOUN
cblr-13858	507	11	.	.	PUNCT
cblr-13858	508	1	"'2	"'2	PUNCT
cblr-13858	509	1	5	5	NUM
cblr-13858	509	2	the	the	DET
cblr-13858	509	3	"	"	PUNCT
cblr-13858	509	4	rigid	rigid	ADJ
cblr-13858	509	5	institutional	institutional	ADJ
cblr-13858	509	6	structures	structure	NOUN
cblr-13858	509	7	"	"	PUNCT
cblr-13858	509	8	previously	previously	ADV
cblr-13858	509	9	required	require	VERB
cblr-13858	509	10	to	to	PART
cblr-13858	509	11	organize	organize	VERB
cblr-13858	509	12	economic	economic	ADJ
cblr-13858	509	13	action	action	NOUN
cblr-13858	509	14	are	be	AUX
cblr-13858	509	15	,	,	PUNCT
cblr-13858	509	16	in	in	ADP
cblr-13858	509	17	many	many	ADJ
cblr-13858	509	18	cases	case	NOUN
cblr-13858	509	19	,	,	PUNCT
cblr-13858	509	20	no	no	ADV
cblr-13858	509	21	longer	long	ADV
cblr-13858	509	22	necessary	necessary	ADJ
cblr-13858	509	23	.	.	PUNCT
cblr-13858	509	24	'2	'2	PROPN
cblr-13858	510	1	6	6	NUM
cblr-13858	510	2	the	the	DET
cblr-13858	510	3	other	other	ADJ
cblr-13858	510	4	antecedent	antecedent	NOUN
cblr-13858	510	5	of	of	ADP
cblr-13858	510	6	crowdfunding	crowdfunding	NOUN
cblr-13858	510	7	is	be	AUX
cblr-13858	510	8	microlending	microlende	VERB
cblr-13858	510	9	,	,	PUNCT
cblr-13858	510	10	sometimes	sometimes	ADV
cblr-13858	510	11	called	call	VERB
cblr-13858	510	12	microfinance	microfinance	NOUN
cblr-13858	510	13	.	.	PUNCT
cblr-13858	511	1	microlending	microlending	NOUN
cblr-13858	511	2	involves	involve	VERB
cblr-13858	511	3	lending	lend	VERB
cblr-13858	511	4	very	very	ADV
cblr-13858	511	5	small	small	ADJ
cblr-13858	511	6	amounts	amount	NOUN
cblr-13858	511	7	of	of	ADP
cblr-13858	511	8	money	money	NOUN
cblr-13858	511	9	,	,	PUNCT
cblr-13858	511	10	typically	typically	ADV
cblr-13858	511	11	to	to	ADP
cblr-13858	511	12	poorer	poor	ADJ
cblr-13858	511	13	borrowers	borrower	NOUN
cblr-13858	511	14	.	.	PUNCT
cblr-13858	512	1	27	27	NUM
cblr-13858	512	2	microlending	microlending	NOUN
cblr-13858	512	3	can	can	AUX
cblr-13858	512	4	be	be	AUX
cblr-13858	512	5	traced	trace	VERB
cblr-13858	512	6	back	back	ADV
cblr-13858	512	7	to	to	ADP
cblr-13858	512	8	irish	irish	ADJ
cblr-13858	512	9	loan	loan	NOUN
cblr-13858	512	10	funds	fund	NOUN
cblr-13858	512	11	in	in	ADP
cblr-13858	512	12	the	the	DET
cblr-13858	512	13	1700s,'128	1700s,'128	PROPN
cblr-13858	512	14	but	but	CCONJ
cblr-13858	512	15	it	it	PRON
cblr-13858	512	16	became	become	VERB
cblr-13858	512	17	prominent	prominent	ADJ
cblr-13858	512	18	in	in	ADP
cblr-13858	512	19	recent	recent	ADJ
cblr-13858	512	20	times	time	NOUN
cblr-13858	512	21	through	through	ADP
cblr-13858	512	22	the	the	DET
cblr-13858	512	23	work	work	NOUN
cblr-13858	512	24	of	of	ADP
cblr-13858	512	25	muhammad	muhammad	PROPN
cblr-13858	512	26	yunus	yunus	PROPN
cblr-13858	512	27	and	and	CCONJ
cblr-13858	512	28	the	the	DET
cblr-13858	512	29	grameen	grameen	PROPN
cblr-13858	512	30	bank.129	bank.129	PROPN
cblr-13858	512	31	yunus	yunus	PROPN
cblr-13858	512	32	's	's	PART
cblr-13858	512	33	project	project	NOUN
cblr-13858	512	34	began	begin	VERB
cblr-13858	512	35	when	when	SCONJ
cblr-13858	512	36	he	he	PRON
cblr-13858	512	37	loaned	loan	VERB
cblr-13858	512	38	$	$	SYM
cblr-13858	512	39	27	27	NUM
cblr-13858	512	40	122	122	NUM
cblr-13858	512	41	for	for	ADP
cblr-13858	512	42	a	a	DET
cblr-13858	512	43	more	more	ADV
cblr-13858	512	44	detailed	detailed	ADJ
cblr-13858	512	45	look	look	NOUN
cblr-13858	512	46	at	at	ADP
cblr-13858	512	47	crowdsourcing	crowdsource	VERB
cblr-13858	512	48	,	,	PUNCT
cblr-13858	512	49	see	see	VERB
cblr-13858	512	50	generally	generally	ADV
cblr-13858	512	51	howe	howe	NOUN
cblr-13858	512	52	,	,	PUNCT
cblr-13858	512	53	supra	supra	PROPN
cblr-13858	512	54	note	note	PROPN
cblr-13858	512	55	1	1	NUM
cblr-13858	512	56	;	;	PUNCT
cblr-13858	512	57	tapscott	tapscott	PROPN
cblr-13858	512	58	&	&	CCONJ
cblr-13858	512	59	williams	williams	PROPN
cblr-13858	512	60	,	,	PUNCT
cblr-13858	513	1	supra	supra	PROPN
cblr-13858	513	2	note	note	NOUN
cblr-13858	513	3	120	120	NUM
cblr-13858	514	1	.	.	NUM
cblr-13858	514	2	123	123	NUM
cblr-13858	514	3	yochm	yochm	PROPN
cblr-13858	514	4	benkler	benkler	NOUN
cblr-13858	514	5	,	,	PUNCT
cblr-13858	514	6	the	the	DET
cblr-13858	514	7	wealth	wealth	NOUN
cblr-13858	514	8	of	of	ADP
cblr-13858	514	9	networks	network	NOUN
cblr-13858	514	10	:	:	PUNCT
cblr-13858	514	11	how	how	SCONJ
cblr-13858	514	12	social	social	ADJ
cblr-13858	514	13	production	production	NOUN
cblr-13858	514	14	transforms	transform	VERB
cblr-13858	514	15	markets	market	NOUN
cblr-13858	514	16	and	and	CCONJ
cblr-13858	514	17	freedom	freedom	NOUN
cblr-13858	514	18	76	76	NUM
cblr-13858	514	19	(	(	PUNCT
cblr-13858	514	20	2006	2006	NUM
cblr-13858	514	21	)	)	PUNCT
cblr-13858	514	22	.	.	PUNCT
cblr-13858	515	1	see	see	VERB
cblr-13858	515	2	also	also	ADV
cblr-13858	515	3	james	james	PROPN
cblr-13858	515	4	surowiecki	surowiecki	PROPN
cblr-13858	515	5	,	,	PUNCT
cblr-13858	515	6	the	the	DET
cblr-13858	515	7	wisdom	wisdom	NOUN
cblr-13858	515	8	of	of	ADP
cblr-13858	515	9	crowds	crowd	NOUN
cblr-13858	515	10	:	:	PUNCT
cblr-13858	515	11	why	why	SCONJ
cblr-13858	515	12	the	the	DET
cblr-13858	515	13	many	many	ADJ
cblr-13858	515	14	are	be	AUX
cblr-13858	515	15	smarter	smart	ADJ
cblr-13858	515	16	than	than	ADP
cblr-13858	515	17	the	the	DET
cblr-13858	515	18	few	few	ADJ
cblr-13858	515	19	and	and	CCONJ
cblr-13858	515	20	how	how	SCONJ
cblr-13858	515	21	collective	collective	ADJ
cblr-13858	515	22	wisdom	wisdom	NOUN
cblr-13858	515	23	shapes	shape	VERB
cblr-13858	515	24	business	business	NOUN
cblr-13858	515	25	,	,	PUNCT
cblr-13858	515	26	economies	economy	NOUN
cblr-13858	515	27	,	,	PUNCT
cblr-13858	515	28	societies	society	NOUN
cblr-13858	515	29	,	,	PUNCT
cblr-13858	515	30	and	and	CCONJ
cblr-13858	515	31	nations	nation	NOUN
cblr-13858	515	32	16	16	NUM
cblr-13858	515	33	-	-	SYM
cblr-13858	515	34	17	17	NUM
cblr-13858	515	35	(	(	PUNCT
cblr-13858	515	36	2004	2004	NUM
cblr-13858	515	37	)	)	PUNCT
cblr-13858	515	38	(	(	PUNCT
cblr-13858	515	39	describing	describe	VERB
cblr-13858	515	40	google	google	PROPN
cblr-13858	515	41	as	as	ADP
cblr-13858	515	42	an	an	DET
cblr-13858	515	43	example	example	NOUN
cblr-13858	515	44	of	of	ADP
cblr-13858	515	45	the	the	DET
cblr-13858	515	46	wisdom	wisdom	NOUN
cblr-13858	515	47	of	of	ADP
cblr-13858	515	48	the	the	DET
cblr-13858	515	49	crowds	crowd	NOUN
cblr-13858	515	50	)	)	PUNCT
cblr-13858	515	51	.	.	PUNCT
cblr-13858	516	1	124	124	NUM
cblr-13858	516	2	benkler	benkler	NOUN
cblr-13858	516	3	,	,	PUNCT
cblr-13858	516	4	supra	supra	PROPN
cblr-13858	516	5	note	note	NOUN
cblr-13858	516	6	123	123	NUM
cblr-13858	516	7	,	,	PUNCT
cblr-13858	516	8	at	at	ADP
cblr-13858	516	9	3	3	NUM
cblr-13858	516	10	;	;	PUNCT
cblr-13858	516	11	shirky	shirky	PROPN
cblr-13858	516	12	,	,	PUNCT
cblr-13858	516	13	supra	supra	PROPN
cblr-13858	516	14	note	note	NOUN
cblr-13858	516	15	121	121	NUM
cblr-13858	516	16	,	,	PUNCT
cblr-13858	516	17	at	at	ADP
cblr-13858	516	18	48	48	NUM
cblr-13858	516	19	.	.	PUNCT
cblr-13858	517	1	125	125	NUM
cblr-13858	517	2	tapscot	tapscot	NOUN
cblr-13858	517	3	&	&	CCONJ
cblr-13858	517	4	williams	williams	PROPN
cblr-13858	517	5	,	,	PUNCT
cblr-13858	517	6	supra	supra	PROPN
cblr-13858	517	7	note	note	NOUN
cblr-13858	517	8	120	120	NUM
cblr-13858	517	9	,	,	PUNCT
cblr-13858	517	10	at	at	ADP
cblr-13858	517	11	24	24	NUM
cblr-13858	517	12	.	.	PUNCT
cblr-13858	518	1	however	however	ADV
cblr-13858	518	2	,	,	PUNCT
cblr-13858	518	3	crowdsourcing	crowdsource	VERB
cblr-13858	518	4	predates	predate	VERB
cblr-13858	518	5	the	the	DET
cblr-13858	518	6	internet	internet	NOUN
cblr-13858	518	7	.	.	PUNCT
cblr-13858	519	1	for	for	ADP
cblr-13858	519	2	example	example	NOUN
cblr-13858	519	3	,	,	PUNCT
cblr-13858	519	4	since	since	SCONJ
cblr-13858	519	5	1900	1900	NUM
cblr-13858	519	6	,	,	PUNCT
cblr-13858	519	7	the	the	DET
cblr-13858	519	8	national	national	PROPN
cblr-13858	519	9	audubon	audubon	PROPN
cblr-13858	519	10	society	society	PROPN
cblr-13858	519	11	has	have	AUX
cblr-13858	519	12	been	be	AUX
cblr-13858	519	13	organizing	organize	VERB
cblr-13858	519	14	bird	bird	NOUN
cblr-13858	519	15	-	-	PUNCT
cblr-13858	519	16	watchers	watcher	NOUN
cblr-13858	519	17	to	to	PART
cblr-13858	519	18	do	do	VERB
cblr-13858	519	19	an	an	DET
cblr-13858	519	20	annual	annual	ADJ
cblr-13858	519	21	count	count	NOUN
cblr-13858	519	22	of	of	ADP
cblr-13858	519	23	birds	bird	NOUN
cblr-13858	519	24	in	in	ADP
cblr-13858	519	25	the	the	DET
cblr-13858	519	26	western	western	ADJ
cblr-13858	519	27	hemisphere	hemisphere	NOUN
cblr-13858	519	28	.	.	PUNCT
cblr-13858	520	1	see	see	VERB
cblr-13858	520	2	rosenberg	rosenberg	PROPN
cblr-13858	520	3	,	,	PUNCT
cblr-13858	520	4	supra	supra	PROPN
cblr-13858	520	5	note	note	PROPN
cblr-13858	520	6	118	118	NUM
cblr-13858	520	7	.	.	PUNCT
cblr-13858	521	1	the	the	DET
cblr-13858	521	2	famous	famous	ADJ
cblr-13858	521	3	pillsbury	pillsbury	PROPN
cblr-13858	521	4	bake	bake	NOUN
cblr-13858	521	5	-	-	PUNCT
cblr-13858	521	6	off	off	NOUN
cblr-13858	521	7	is	be	AUX
cblr-13858	521	8	a	a	DET
cblr-13858	521	9	long	long	ADV
cblr-13858	521	10	-	-	PUNCT
cblr-13858	521	11	standing	standing	ADJ
cblr-13858	521	12	means	mean	NOUN
cblr-13858	521	13	of	of	ADP
cblr-13858	521	14	crowdsourcing	crowdsource	VERB
cblr-13858	521	15	recipes	recipe	NOUN
cblr-13858	521	16	.	.	PUNCT
cblr-13858	522	1	see	see	VERB
cblr-13858	522	2	i	i	PRON
cblr-13858	522	3	d.	d.	PROPN
cblr-13858	522	4	126	126	NUM
cblr-13858	522	5	shirky	shirky	PROPN
cblr-13858	522	6	,	,	PUNCT
cblr-13858	522	7	supra	supra	PROPN
cblr-13858	522	8	note	note	NOUN
cblr-13858	522	9	121	121	NUM
cblr-13858	522	10	,	,	PUNCT
cblr-13858	522	11	at	at	ADP
cblr-13858	522	12	21	21	NUM
cblr-13858	522	13	-	-	SYM
cblr-13858	522	14	22	22	NUM
cblr-13858	522	15	.	.	PUNCT
cblr-13858	523	1	127	127	NUM
cblr-13858	523	2	see	see	NOUN
cblr-13858	523	3	mincer	mincer	NOUN
cblr-13858	523	4	,	,	PUNCT
cblr-13858	523	5	supra	supra	PROPN
cblr-13858	523	6	note	note	NOUN
cblr-13858	523	7	21	21	NUM
cblr-13858	523	8	.	.	PUNCT
cblr-13858	524	1	121	121	NUM
cblr-13858	524	2	sarah	sarah	PROPN
cblr-13858	524	3	b.	b.	PROPN
cblr-13858	524	4	lawsky	lawsky	PROPN
cblr-13858	524	5	,	,	PUNCT
cblr-13858	524	6	money	money	NOUN
cblr-13858	524	7	for	for	ADP
cblr-13858	524	8	nothing	nothing	PRON
cblr-13858	524	9	:	:	PUNCT
cblr-13858	524	10	charitable	charitable	ADJ
cblr-13858	524	11	deductions	deduction	NOUN
cblr-13858	524	12	for	for	ADP
cblr-13858	524	13	microfinance	microfinance	NOUN
cblr-13858	524	14	lenders	lender	NOUN
cblr-13858	524	15	,	,	PUNCT
cblr-13858	524	16	61	61	NUM
cblr-13858	524	17	smu	smu	PROPN
cblr-13858	524	18	l.	l.	PROPN
cblr-13858	524	19	rev	rev	PROPN
cblr-13858	524	20	.	.	PROPN
cblr-13858	524	21	1525	1525	NUM
cblr-13858	524	22	,	,	PUNCT
cblr-13858	524	23	1529	1529	NUM
cblr-13858	524	24	(	(	PUNCT
cblr-13858	524	25	2008	2008	NUM
cblr-13858	524	26	)	)	PUNCT
cblr-13858	524	27	.	.	PUNCT
cblr-13858	525	1	129	129	NUM
cblr-13858	525	2	see	see	VERB
cblr-13858	525	3	mincer	mincer	NOUN
cblr-13858	525	4	,	,	PUNCT
cblr-13858	525	5	supra	supra	PROPN
cblr-13858	525	6	note	note	NOUN
cblr-13858	525	7	21	21	NUM
cblr-13858	525	8	;	;	PUNCT
cblr-13858	525	9	olivia	olivia	PROPN
cblr-13858	525	10	l.	l.	PROPN
cblr-13858	525	11	walker	walker	PROPN
cblr-13858	525	12	,	,	PUNCT
cblr-13858	525	13	the	the	DET
cblr-13858	525	14	future	future	NOUN
cblr-13858	525	15	of	of	ADP
cblr-13858	525	16	microlending	microlending	NOUN
cblr-13858	525	17	in	in	ADP
cblr-13858	525	18	the	the	DET
cblr-13858	525	19	united	united	PROPN
cblr-13858	525	20	states	states	PROPN
cblr-13858	525	21	:	:	PUNCT
cblr-13858	525	22	a	a	DET
cblr-13858	525	23	shift	shift	NOUN
cblr-13858	525	24	from	from	ADP
cblr-13858	525	25	charity	charity	NOUN
cblr-13858	525	26	to	to	ADP
cblr-13858	525	27	profits	profit	NOUN
cblr-13858	525	28	?	?	PUNCT
cblr-13858	525	29	,	,	PUNCT
cblr-13858	525	30	6	6	NUM
cblr-13858	525	31	ohio	ohio	PROPN
cblr-13858	525	32	st	st	PROPN
cblr-13858	525	33	.	.	PROPN
cblr-13858	525	34	bus	bus	PROPN
cblr-13858	525	35	.	.	PUNCT
cblr-13858	526	1	l.j	l.j	PROPN
cblr-13858	526	2	.	.	PROPN
cblr-13858	526	3	383	383	NUM
cblr-13858	526	4	,	,	PUNCT
cblr-13858	526	5	384	384	NUM
cblr-13858	526	6	(	(	PUNCT
cblr-13858	526	7	2011	2011	NUM
cblr-13858	526	8	)	)	PUNCT
cblr-13858	526	9	;	;	PUNCT
cblr-13858	527	1	kathleen	kathleen	PROPN
cblr-13858	527	2	kingsbury	kingsbury	PROPN
cblr-13858	527	3	,	,	PUNCT
cblr-13858	527	4	microfinance	microfinance	NOUN
cblr-13858	527	5	:	:	PUNCT
cblr-13858	527	6	lending	lend	VERB
cblr-13858	527	7	a	a	DET
cblr-13858	527	8	hand	hand	NOUN
cblr-13858	527	9	,	,	PUNCT
cblr-13858	527	10	time	time	NOUN
cblr-13858	527	11	(	(	PUNCT
cblr-13858	527	12	apr	apr	NOUN
cblr-13858	527	13	.	.	PROPN
cblr-13858	527	14	5	5	NUM
cblr-13858	527	15	,	,	PUNCT
cblr-13858	527	16	2007	2007	NUM
cblr-13858	527	17	)	)	PUNCT
cblr-13858	527	18	,	,	PUNCT
cblr-13858	527	19	http://www.time.com/time/magazine	http://www.time.com/time/magazine	PROPN
cblr-13858	527	20	/article/0,9171,1607256,00.html	/article/0,9171,1607256,00.html	PUNCT
cblr-13858	527	21	.	.	PUNCT
cblr-13858	528	1	28	28	NUM
cblr-13858	529	1	[	[	PUNCT
cblr-13858	529	2	vol	vol	NOUN
cblr-13858	529	3	.	.	NOUN
cblr-13858	529	4	2012	2012	NUM
cblr-13858	529	5	of	of	ADP
cblr-13858	529	6	his	his	PRON
cblr-13858	529	7	own	own	ADJ
cblr-13858	529	8	money	money	NOUN
cblr-13858	529	9	to	to	ADP
cblr-13858	529	10	42	42	NUM
cblr-13858	529	11	villagers	villager	NOUN
cblr-13858	529	12	in	in	ADP
cblr-13858	529	13	bangladesh	bangladesh	NOUN
cblr-13858	529	14	.	.	PUNCT
cblr-13858	530	1	'30	'30	NUM
cblr-13858	530	2	he	he	PRON
cblr-13858	530	3	subsequently	subsequently	ADV
cblr-13858	530	4	established	establish	VERB
cblr-13858	530	5	a	a	DET
cblr-13858	530	6	multi	multi	ADJ
cblr-13858	530	7	-	-	ADJ
cblr-13858	530	8	branch	branch	ADJ
cblr-13858	530	9	bank	bank	NOUN
cblr-13858	530	10	,	,	PUNCT
cblr-13858	530	11	the	the	DET
cblr-13858	530	12	grameen	grameen	PROPN
cblr-13858	530	13	bank	bank	PROPN
cblr-13858	530	14	,	,	PUNCT
cblr-13858	530	15	that	that	PRON
cblr-13858	530	16	specialized	specialize	VERB
cblr-13858	530	17	in	in	ADP
cblr-13858	530	18	such	such	ADJ
cblr-13858	530	19	loans.3	loans.3	PROPN
cblr-13858	530	20	1	1	NUM
cblr-13858	530	21	in	in	ADP
cblr-13858	530	22	2006	2006	NUM
cblr-13858	530	23	,	,	PUNCT
cblr-13858	530	24	yunus	yunus	PROPN
cblr-13858	530	25	and	and	CCONJ
cblr-13858	530	26	the	the	DET
cblr-13858	530	27	grameen	grameen	PROPN
cblr-13858	530	28	bank	bank	PROPN
cblr-13858	530	29	shared	share	VERB
cblr-13858	530	30	the	the	DET
cblr-13858	530	31	nobel	nobel	PROPN
cblr-13858	530	32	peace	peace	PROPN
cblr-13858	530	33	prize	prize	PROPN
cblr-13858	530	34	.	.	PUNCT
cblr-13858	531	1	microlending	microlending	NOUN
cblr-13858	531	2	has	have	VERB
cblr-13858	531	3	its	its	PRON
cblr-13858	531	4	detractors,132	detractors,132	NOUN
cblr-13858	531	5	but	but	CCONJ
cblr-13858	531	6	it	it	PRON
cblr-13858	531	7	has	have	AUX
cblr-13858	531	8	ballooned	balloon	VERB
cblr-13858	531	9	into	into	ADP
cblr-13858	531	10	a	a	DET
cblr-13858	531	11	multi	multi	ADJ
cblr-13858	531	12	-	-	ADJ
cblr-13858	531	13	billion	billion	NUM
cblr-13858	531	14	-	-	PUNCT
cblr-13858	531	15	dollar	dollar	NOUN
cblr-13858	531	16	industry.3	industry.3	PROPN
cblr-13858	531	17	3	3	NUM
cblr-13858	531	18	micro	micro	NOUN
cblr-13858	531	19	-	-	NOUN
cblr-13858	531	20	lending	lending	NOUN
cblr-13858	531	21	is	be	AUX
cblr-13858	531	22	defined	define	VERB
cblr-13858	531	23	primarily	primarily	ADV
cblr-13858	531	24	by	by	ADP
cblr-13858	531	25	the	the	DET
cblr-13858	531	26	recipient	recipient	NOUN
cblr-13858	531	27	-	-	PUNCT
cblr-13858	531	28	very	very	ADV
cblr-13858	531	29	small	small	ADJ
cblr-13858	531	30	entrepreneurial	entrepreneurial	ADJ
cblr-13858	531	31	ventures	venture	NOUN
cblr-13858	531	32	.	.	PUNCT
cblr-13858	532	1	crowdsourcing	crowdsource	VERB
cblr-13858	532	2	is	be	AUX
cblr-13858	532	3	defined	define	VERB
cblr-13858	532	4	primarily	primarily	ADV
cblr-13858	532	5	by	by	ADP
cblr-13858	532	6	the	the	DET
cblr-13858	532	7	contributor	contributor	NOUN
cblr-13858	532	8	-	-	PUNCT
cblr-13858	532	9	small	small	ADJ
cblr-13858	532	10	contributions	contribution	NOUN
cblr-13858	532	11	from	from	ADP
cblr-13858	532	12	a	a	DET
cblr-13858	532	13	large	large	ADJ
cblr-13858	532	14	number	number	NOUN
cblr-13858	532	15	of	of	ADP
cblr-13858	532	16	people	people	NOUN
cblr-13858	532	17	to	to	PART
cblr-13858	532	18	achieve	achieve	VERB
cblr-13858	532	19	a	a	DET
cblr-13858	532	20	common	common	ADJ
cblr-13858	532	21	goal	goal	NOUN
cblr-13858	532	22	.	.	PUNCT
cblr-13858	533	1	crowdfunding	crowdfunding	NOUN
cblr-13858	533	2	is	be	AUX
cblr-13858	533	3	just	just	ADV
cblr-13858	533	4	a	a	DET
cblr-13858	533	5	combination	combination	NOUN
cblr-13858	533	6	of	of	ADP
cblr-13858	533	7	those	those	DET
cblr-13858	533	8	two	two	NUM
cblr-13858	533	9	ideassmall	ideassmall	NOUN
cblr-13858	533	10	contributions	contribution	NOUN
cblr-13858	533	11	from	from	ADP
cblr-13858	533	12	a	a	DET
cblr-13858	533	13	large	large	ADJ
cblr-13858	533	14	number	number	NOUN
cblr-13858	533	15	of	of	ADP
cblr-13858	533	16	people	people	NOUN
cblr-13858	533	17	to	to	PART
cblr-13858	533	18	fund	fund	VERB
cblr-13858	533	19	small	small	ADJ
cblr-13858	533	20	entrepreneurial	entrepreneurial	ADJ
cblr-13858	533	21	ventures	venture	NOUN
cblr-13858	533	22	.	.	PUNCT
cblr-13858	534	1	iii	iii	X
cblr-13858	534	2	.	.	PROPN
cblr-13858	534	3	are	be	AUX
cblr-13858	534	4	crowdfunding	crowdfunde	VERB
cblr-13858	534	5	investments	investment	NOUN
cblr-13858	534	6	subject	subject	ADJ
cblr-13858	534	7	to	to	ADP
cblr-13858	534	8	the	the	DET
cblr-13858	534	9	registration	registration	NOUN
cblr-13858	534	10	requirements	requirement	NOUN
cblr-13858	534	11	of	of	ADP
cblr-13858	534	12	the	the	DET
cblr-13858	534	13	securities	security	NOUN
cblr-13858	534	14	act	act	PROPN
cblr-13858	534	15	?	?	PUNCT
cblr-13858	535	1	crowdfunding	crowdfunding	NOUN
cblr-13858	535	2	raises	raise	VERB
cblr-13858	535	3	two	two	NUM
cblr-13858	535	4	different	different	ADJ
cblr-13858	535	5	sets	set	NOUN
cblr-13858	535	6	of	of	ADP
cblr-13858	535	7	issues	issue	NOUN
cblr-13858	535	8	under	under	ADP
cblr-13858	535	9	federal	federal	ADJ
cblr-13858	535	10	securities	security	NOUN
cblr-13858	535	11	laws	law	NOUN
cblr-13858	535	12	.	.	PUNCT
cblr-13858	536	1	the	the	DET
cblr-13858	536	2	first	first	ADJ
cblr-13858	536	3	issue	issue	NOUN
cblr-13858	536	4	relates	relate	VERB
cblr-13858	536	5	to	to	ADP
cblr-13858	536	6	the	the	DET
cblr-13858	536	7	offerings	offering	NOUN
cblr-13858	536	8	themselves	themselves	PRON
cblr-13858	536	9	:	:	PUNCT
cblr-13858	536	10	are	be	AUX
cblr-13858	536	11	the	the	DET
cblr-13858	536	12	entrepreneurs	entrepreneur	NOUN
cblr-13858	536	13	raising	raise	VERB
cblr-13858	536	14	funds	fund	NOUN
cblr-13858	536	15	on	on	ADP
cblr-13858	536	16	crowdfunding	crowdfunde	VERB
cblr-13858	536	17	sites	site	NOUN
cblr-13858	536	18	offering	offer	VERB
cblr-13858	536	19	securities	security	NOUN
cblr-13858	536	20	subject	subject	ADJ
cblr-13858	536	21	to	to	ADP
cblr-13858	536	22	the	the	DET
cblr-13858	536	23	registration	registration	NOUN
cblr-13858	536	24	requirements	requirement	NOUN
cblr-13858	536	25	of	of	ADP
cblr-13858	536	26	the	the	DET
cblr-13858	536	27	securities	security	NOUN
cblr-13858	536	28	act	act	NOUN
cblr-13858	536	29	of	of	ADP
cblr-13858	536	30	1933	1933	NUM
cblr-13858	536	31	?	?	PUNCT
cblr-13858	537	1	the	the	DET
cblr-13858	537	2	second	second	ADJ
cblr-13858	537	3	set	set	NOUN
cblr-13858	537	4	of	of	ADP
cblr-13858	537	5	issues	issue	NOUN
cblr-13858	537	6	relates	relate	VERB
cblr-13858	537	7	to	to	ADP
cblr-13858	537	8	possible	possible	ADJ
cblr-13858	537	9	violations	violation	NOUN
cblr-13858	537	10	of	of	ADP
cblr-13858	537	11	securities	security	NOUN
cblr-13858	537	12	laws	law	NOUN
cblr-13858	537	13	by	by	ADP
cblr-13858	537	14	the	the	DET
cblr-13858	537	15	crowdfunding	crowdfunding	NOUN
cblr-13858	537	16	sites	site	NOUN
cblr-13858	537	17	that	that	PRON
cblr-13858	537	18	facilitate	facilitate	VERB
cblr-13858	537	19	those	those	DET
cblr-13858	537	20	offerings	offering	NOUN
cblr-13858	537	21	.	.	PUNCT
cblr-13858	538	1	this	this	DET
cblr-13858	538	2	section	section	NOUN
cblr-13858	538	3	addresses	address	VERB
cblr-13858	538	4	the	the	DET
cblr-13858	538	5	first	first	ADJ
cblr-13858	538	6	issue	issue	NOUN
cblr-13858	538	7	;	;	PUNCT
cblr-13858	538	8	the	the	DET
cblr-13858	538	9	next	next	ADJ
cblr-13858	538	10	section	section	NOUN
cblr-13858	538	11	focuses	focus	VERB
cblr-13858	538	12	on	on	ADP
cblr-13858	538	13	the	the	DET
cblr-13858	538	14	securities	security	NOUN
cblr-13858	538	15	law	law	NOUN
cblr-13858	538	16	status	status	NOUN
cblr-13858	538	17	of	of	ADP
cblr-13858	538	18	the	the	DET
cblr-13858	538	19	crowdfunding	crowdfunding	NOUN
cblr-13858	538	20	sites	site	NOUN
cblr-13858	538	21	.	.	PUNCT
cblr-13858	539	1	section	section	NOUN
cblr-13858	539	2	5	5	NUM
cblr-13858	539	3	of	of	ADP
cblr-13858	539	4	the	the	DET
cblr-13858	539	5	securities	security	NOUN
cblr-13858	539	6	act	act	NOUN
cblr-13858	539	7	and	and	CCONJ
cblr-13858	539	8	the	the	DET
cblr-13858	539	9	sec	sec	PROPN
cblr-13858	539	10	rules	rule	NOUN
cblr-13858	539	11	associated	associate	VERB
cblr-13858	539	12	with	with	ADP
cblr-13858	539	13	section	section	NOUN
cblr-13858	539	14	5	5	NUM
cblr-13858	539	15	are	be	AUX
cblr-13858	539	16	a	a	DET
cblr-13858	539	17	morass	morass	NOUN
cblr-13858	539	18	of	of	ADP
cblr-13858	539	19	prohibitions	prohibition	NOUN
cblr-13858	539	20	,	,	PUNCT
cblr-13858	539	21	"	"	PUNCT
cblr-13858	539	22	o	o	PROPN
cblr-13858	539	23	muhammad	muhammad	PROPN
cblr-13858	539	24	yunus	yunus	PROPN
cblr-13858	539	25	,	,	PUNCT
cblr-13858	539	26	banker	banker	NOUN
cblr-13858	539	27	to	to	ADP
cblr-13858	539	28	the	the	DET
cblr-13858	539	29	poor	poor	ADJ
cblr-13858	539	30	:	:	PUNCT
cblr-13858	539	31	micro	micro	ADJ
cblr-13858	539	32	-	-	NOUN
cblr-13858	539	33	lending	lending	NOUN
cblr-13858	539	34	and	and	CCONJ
cblr-13858	539	35	the	the	DET
cblr-13858	539	36	battle	battle	NOUN
cblr-13858	539	37	against	against	ADP
cblr-13858	539	38	world	world	NOUN
cblr-13858	539	39	poverty	poverty	NOUN
cblr-13858	539	40	49	49	NUM
cblr-13858	539	41	-	-	SYM
cblr-13858	539	42	50	50	NUM
cblr-13858	539	43	(	(	PUNCT
cblr-13858	539	44	2003	2003	NUM
cblr-13858	539	45	)	)	PUNCT
cblr-13858	539	46	.	.	PUNCT
cblr-13858	540	1	131	131	NUM
cblr-13858	541	1	i	i	PRON
cblr-13858	541	2	d.	d.	PROPN
cblr-13858	541	3	at	at	ADP
cblr-13858	541	4	89	89	NUM
cblr-13858	541	5	-	-	SYM
cblr-13858	541	6	97	97	NUM
cblr-13858	541	7	.	.	PUNCT
cblr-13858	542	1	132	132	NUM
cblr-13858	542	2	see	see	NOUN
cblr-13858	542	3	kingsbury	kingsbury	NOUN
cblr-13858	542	4	,	,	PUNCT
cblr-13858	542	5	supra	supra	PROPN
cblr-13858	542	6	note	note	NOUN
cblr-13858	542	7	129	129	NUM
cblr-13858	542	8	(	(	PUNCT
cblr-13858	542	9	noting	note	VERB
cblr-13858	542	10	complaints	complaint	NOUN
cblr-13858	542	11	that	that	SCONJ
cblr-13858	542	12	microcredit	microcredit	NOUN
cblr-13858	542	13	does	do	AUX
cblr-13858	542	14	little	little	ADJ
cblr-13858	542	15	to	to	PART
cblr-13858	542	16	alleviate	alleviate	VERB
cblr-13858	542	17	overall	overall	ADJ
cblr-13858	542	18	poverty	poverty	NOUN
cblr-13858	542	19	,	,	PUNCT
cblr-13858	542	20	crowds	crowd	NOUN
cblr-13858	542	21	out	out	ADP
cblr-13858	542	22	locally	locally	ADV
cblr-13858	542	23	owned	own	VERB
cblr-13858	542	24	banks	bank	NOUN
cblr-13858	542	25	,	,	PUNCT
cblr-13858	542	26	and	and	CCONJ
cblr-13858	542	27	can	can	AUX
cblr-13858	542	28	leave	leave	VERB
cblr-13858	542	29	the	the	DET
cblr-13858	542	30	poor	poor	ADJ
cblr-13858	542	31	drowning	drowning	NOUN
cblr-13858	542	32	in	in	ADP
cblr-13858	542	33	debt	debt	NOUN
cblr-13858	542	34	)	)	PUNCT
cblr-13858	542	35	.	.	PUNCT
cblr-13858	543	1	"	"	PUNCT
cblr-13858	543	2	'	'	PUNCT
cblr-13858	543	3	see	see	VERB
cblr-13858	543	4	i	i	PRON
cblr-13858	543	5	d.	d.	PROPN
cblr-13858	543	6	as	as	ADP
cblr-13858	543	7	of	of	ADP
cblr-13858	543	8	2007	2007	NUM
cblr-13858	543	9	,	,	PUNCT
cblr-13858	543	10	about	about	ADV
cblr-13858	543	11	10,000	10,000	NUM
cblr-13858	543	12	microfinance	microfinance	NOUN
cblr-13858	543	13	institutions	institution	NOUN
cblr-13858	543	14	held	hold	VERB
cblr-13858	543	15	more	more	ADJ
cblr-13858	543	16	than	than	ADP
cblr-13858	543	17	$	$	SYM
cblr-13858	543	18	7	7	NUM
cblr-13858	543	19	billion	billion	NUM
cblr-13858	543	20	in	in	ADP
cblr-13858	543	21	outstanding	outstanding	ADJ
cblr-13858	543	22	loans	loan	NOUN
cblr-13858	543	23	.	.	PUNCT
cblr-13858	544	1	29no	29no	ADJ
cblr-13858	544	2	.	.	PUNCT
cblr-13858	545	1	i:1	i:1	PROPN
cblr-13858	545	2	]	]	PUNCT
cblr-13858	545	3	crowdfunding	crowdfunding	NOUN
cblr-13858	545	4	and	and	CCONJ
cblr-13858	545	5	securities	securities	PROPN
cblr-13858	545	6	la	la	PROPN
cblr-13858	545	7	ws	ws	PROPN
cblr-13858	545	8	columbia	columbia	PROPN
cblr-13858	545	9	business	business	PROPN
cblr-13858	545	10	law	law	PROPN
cblr-13858	545	11	review	review	NOUN
cblr-13858	545	12	exceptions	exception	NOUN
cblr-13858	545	13	,	,	PUNCT
cblr-13858	545	14	conditions	condition	NOUN
cblr-13858	545	15	,	,	PUNCT
cblr-13858	545	16	and	and	CCONJ
cblr-13858	545	17	exceptions	exception	NOUN
cblr-13858	545	18	to	to	ADP
cblr-13858	545	19	exceptions	exception	NOUN
cblr-13858	545	20	,	,	PUNCT
cblr-13858	545	21	13	13	NUM
cblr-13858	545	22	4	4	NUM
cblr-13858	545	23	but	but	CCONJ
cblr-13858	545	24	the	the	DET
cblr-13858	545	25	basic	basic	ADJ
cblr-13858	545	26	prohibitions	prohibition	NOUN
cblr-13858	545	27	are	be	AUX
cblr-13858	545	28	clear	clear	ADJ
cblr-13858	545	29	.	.	PUNCT
cblr-13858	546	1	absent	absent	ADJ
cblr-13858	546	2	an	an	DET
cblr-13858	546	3	exemption	exemption	NOUN
cblr-13858	546	4	,	,	PUNCT
cblr-13858	546	5	an	an	DET
cblr-13858	546	6	issuer	issuer	NOUN
cblr-13858	546	7	may	may	AUX
cblr-13858	546	8	not	not	PART
cblr-13858	546	9	offer	offer	VERB
cblr-13858	546	10	a	a	DET
cblr-13858	546	11	security	security	NOUN
cblr-13858	546	12	for	for	ADP
cblr-13858	546	13	sale	sale	NOUN
cblr-13858	546	14	until	until	SCONJ
cblr-13858	546	15	a	a	DET
cblr-13858	546	16	registration	registration	NOUN
cblr-13858	546	17	statement	statement	NOUN
cblr-13858	546	18	has	have	AUX
cblr-13858	546	19	been	be	AUX
cblr-13858	546	20	filed	file	VERB
cblr-13858	546	21	with	with	ADP
cblr-13858	546	22	the	the	DET
cblr-13858	546	23	sec	sec	PROPN
cblr-13858	546	24	.	.	PUNCT
cblr-13858	546	25	'	'	PUNCT
cblr-13858	547	1	and	and	CCONJ
cblr-13858	547	2	an	an	DET
cblr-13858	547	3	issuer	issuer	NOUN
cblr-13858	547	4	may	may	AUX
cblr-13858	547	5	not	not	PART
cblr-13858	547	6	sell	sell	VERB
cblr-13858	547	7	a	a	DET
cblr-13858	547	8	security	security	NOUN
cblr-13858	547	9	36	36	NUM
cblr-13858	547	10	until	until	SCONJ
cblr-13858	547	11	that	that	DET
cblr-13858	547	12	registration	registration	NOUN
cblr-13858	547	13	statement	statement	NOUN
cblr-13858	547	14	has	have	AUX
cblr-13858	547	15	become	become	VERB
cblr-13858	547	16	effective	effective	ADJ
cblr-13858	547	17	.	.	PUNCT
cblr-13858	547	18	'	'	PUNCT
cblr-13858	548	1	but	but	CCONJ
cblr-13858	548	2	the	the	DET
cblr-13858	548	3	registration	registration	NOUN
cblr-13858	548	4	requirements	requirement	NOUN
cblr-13858	548	5	apply	apply	VERB
cblr-13858	548	6	only	only	ADV
cblr-13858	548	7	if	if	SCONJ
cblr-13858	548	8	the	the	DET
cblr-13858	548	9	entrepreneurs	entrepreneur	NOUN
cblr-13858	548	10	on	on	ADP
cblr-13858	548	11	crowdfunding	crowdfunding	NOUN
cblr-13858	548	12	sites	site	NOUN
cblr-13858	548	13	are	be	AUX
cblr-13858	548	14	offering	offer	VERB
cblr-13858	548	15	securities	security	NOUN
cblr-13858	548	16	.	.	PUNCT
cblr-13858	549	1	3	3	NUM
cblr-13858	549	2	8	8	NUM
cblr-13858	549	3	if	if	SCONJ
cblr-13858	549	4	crowdfunding	crowdfunde	VERB
cblr-13858	549	5	investments	investment	NOUN
cblr-13858	549	6	are	be	AUX
cblr-13858	549	7	not	not	PART
cblr-13858	549	8	securities	security	NOUN
cblr-13858	549	9	,	,	PUNCT
cblr-13858	549	10	the	the	DET
cblr-13858	549	11	federal	federal	ADJ
cblr-13858	549	12	securities	security	NOUN
cblr-13858	549	13	laws	law	NOUN
cblr-13858	549	14	do	do	AUX
cblr-13858	549	15	not	not	PART
cblr-13858	549	16	apply	apply	VERB
cblr-13858	549	17	.	.	PUNCT
cblr-13858	550	1	a.	a.	NOUN
cblr-13858	550	2	are	be	AUX
cblr-13858	550	3	crowdfunding	crowdfunde	VERB
cblr-13858	550	4	investments	investment	NOUN
cblr-13858	550	5	securities	security	NOUN
cblr-13858	550	6	?	?	PUNCT
cblr-13858	551	1	each	each	DET
cblr-13858	551	2	federal	federal	PROPN
cblr-13858	551	3	securities	security	NOUN
cblr-13858	551	4	statute	statute	PROPN
cblr-13858	551	5	has	have	VERB
cblr-13858	551	6	its	its	PRON
cblr-13858	551	7	own	own	ADJ
cblr-13858	551	8	definition	definition	NOUN
cblr-13858	551	9	of	of	ADP
cblr-13858	551	10	"	"	PUNCT
cblr-13858	551	11	security	security	NOUN
cblr-13858	551	12	,	,	PUNCT
cblr-13858	551	13	"	"	PUNCT
cblr-13858	551	14	but	but	CCONJ
cblr-13858	551	15	the	the	DET
cblr-13858	551	16	language	language	NOUN
cblr-13858	551	17	of	of	ADP
cblr-13858	551	18	the	the	DET
cblr-13858	551	19	various	various	ADJ
cblr-13858	551	20	definitions	definition	NOUN
cblr-13858	551	21	,	,	PUNCT
cblr-13858	551	22	for	for	ADP
cblr-13858	551	23	purposes	purpose	NOUN
cblr-13858	551	24	of	of	ADP
cblr-13858	551	25	the	the	DET
cblr-13858	551	26	issues	issue	NOUN
cblr-13858	551	27	raised	raise	VERB
cblr-13858	551	28	here	here	ADV
cblr-13858	551	29	,	,	PUNCT
cblr-13858	551	30	is	be	AUX
cblr-13858	551	31	roughly	roughly	ADV
cblr-13858	551	32	the	the	DET
cblr-13858	551	33	same.3	same.3	PROPN
cblr-13858	551	34	9	9	NUM
cblr-13858	551	35	the	the	DET
cblr-13858	551	36	most	most	ADV
cblr-13858	551	37	expansive	expansive	ADJ
cblr-13858	551	38	part	part	NOUN
cblr-13858	551	39	of	of	ADP
cblr-13858	551	40	the	the	DET
cblr-13858	551	41	definition	definition	NOUN
cblr-13858	551	42	of	of	ADP
cblr-13858	551	43	security	security	NOUN
cblr-13858	551	44	,	,	PUNCT
cblr-13858	551	45	the	the	DET
cblr-13858	551	46	catch	catch	NOUN
cblr-13858	551	47	-	-	PUNCT
cblr-13858	551	48	all	all	DET
cblr-13858	551	49	category	category	NOUN
cblr-13858	551	50	,	,	PUNCT
cblr-13858	551	51	is	be	AUX
cblr-13858	551	52	the	the	DET
cblr-13858	551	53	term	term	NOUN
cblr-13858	551	54	"	"	PUNCT
cblr-13858	551	55	investment	investment	NOUN
cblr-13858	551	56	contract	contract	NOUN
cblr-13858	551	57	.	.	PUNCT
cblr-13858	551	58	"	"	PUNCT
cblr-13858	552	1	in	in	ADP
cblr-13858	552	2	sec	sec	PROPN
cblr-13858	552	3	v.	v.	ADP
cblr-13858	552	4	w.	w.	PROPN
cblr-13858	552	5	j.	j.	PROPN
cblr-13858	552	6	howey	howey	PROPN
cblr-13858	552	7	co.	co.	PROPN
cblr-13858	552	8	,	,	PUNCT
cblr-13858	552	9	the	the	DET
cblr-13858	552	10	supreme	supreme	PROPN
cblr-13858	552	11	court	court	PROPN
cblr-13858	552	12	defined	define	VERB
cblr-13858	552	13	an	an	DET
cblr-13858	552	14	investment	investment	NOUN
cblr-13858	552	15	contract	contract	NOUN
cblr-13858	552	16	as	as	ADP
cblr-13858	552	17	(	(	PUNCT
cblr-13858	552	18	1	1	X
cblr-13858	552	19	)	)	PUNCT
cblr-13858	552	20	an	an	DET
cblr-13858	552	21	investment	investment	NOUN
cblr-13858	552	22	of	of	ADP
cblr-13858	552	23	money	money	NOUN
cblr-13858	552	24	(	(	PUNCT
cblr-13858	552	25	2	2	NUM
cblr-13858	552	26	)	)	PUNCT
cblr-13858	552	27	in	in	ADP
cblr-13858	552	28	a	a	DET
cblr-13858	552	29	common	common	ADJ
cblr-13858	552	30	enterprise	enterprise	NOUN
cblr-13858	552	31	(	(	PUNCT
cblr-13858	552	32	3	3	NUM
cblr-13858	552	33	)	)	PUNCT
cblr-13858	552	34	with	with	ADP
cblr-13858	552	35	an	an	DET
cblr-13858	552	36	expectation	expectation	NOUN
cblr-13858	552	37	of	of	ADP
cblr-13858	552	38	profits	profit	NOUN
cblr-13858	552	39	(	(	PUNCT
cblr-13858	552	40	4	4	NUM
cblr-13858	552	41	)	)	PUNCT
cblr-13858	552	42	13	13	NUM
cblr-13858	552	43	'	'	PUNCT
cblr-13858	552	44	consider	consider	NOUN
cblr-13858	552	45	,	,	PUNCT
cblr-13858	552	46	for	for	ADP
cblr-13858	552	47	example	example	NOUN
cblr-13858	552	48	,	,	PUNCT
cblr-13858	552	49	securities	security	NOUN
cblr-13858	552	50	act	act	NOUN
cblr-13858	552	51	rule	rule	VERB
cblr-13858	552	52	433	433	NUM
cblr-13858	552	53	.	.	PUNCT
cblr-13858	553	1	whether	whether	SCONJ
cblr-13858	553	2	a	a	DET
cblr-13858	553	3	communication	communication	NOUN
cblr-13858	553	4	falls	fall	VERB
cblr-13858	553	5	within	within	ADP
cblr-13858	553	6	the	the	DET
cblr-13858	553	7	rule	rule	NOUN
cblr-13858	553	8	433	433	NUM
cblr-13858	553	9	safe	safe	ADJ
cblr-13858	553	10	harbor	harbor	NOUN
cblr-13858	553	11	can	can	AUX
cblr-13858	553	12	depend	depend	VERB
cblr-13858	553	13	on	on	ADP
cblr-13858	553	14	,	,	PUNCT
cblr-13858	553	15	among	among	ADP
cblr-13858	553	16	other	other	ADJ
cblr-13858	553	17	things	thing	NOUN
cblr-13858	553	18	:	:	PUNCT
cblr-13858	553	19	whether	whether	SCONJ
cblr-13858	553	20	the	the	DET
cblr-13858	553	21	issuer	issuer	NOUN
cblr-13858	553	22	has	have	AUX
cblr-13858	553	23	filed	file	VERB
cblr-13858	553	24	a	a	DET
cblr-13858	553	25	registration	registration	NOUN
cblr-13858	553	26	statement	statement	NOUN
cblr-13858	553	27	,	,	PUNCT
cblr-13858	553	28	rule	rule	NOUN
cblr-13858	553	29	433(a	433(a	PROPN
cblr-13858	553	30	)	)	PUNCT
cblr-13858	553	31	;	;	PUNCT
cblr-13858	553	32	characteristics	characteristic	NOUN
cblr-13858	553	33	of	of	ADP
cblr-13858	553	34	the	the	DET
cblr-13858	553	35	company	company	NOUN
cblr-13858	553	36	issuing	issue	VERB
cblr-13858	553	37	the	the	DET
cblr-13858	553	38	securities	security	NOUN
cblr-13858	553	39	,	,	PUNCT
cblr-13858	553	40	such	such	ADJ
cblr-13858	553	41	as	as	ADP
cblr-13858	553	42	its	its	PRON
cblr-13858	553	43	size	size	NOUN
cblr-13858	553	44	and	and	CCONJ
cblr-13858	553	45	how	how	SCONJ
cblr-13858	553	46	long	long	ADV
cblr-13858	553	47	it	it	PRON
cblr-13858	553	48	has	have	AUX
cblr-13858	553	49	been	be	AUX
cblr-13858	553	50	a	a	DET
cblr-13858	553	51	reporting	reporting	NOUN
cblr-13858	553	52	company	company	NOUN
cblr-13858	553	53	,	,	PUNCT
cblr-13858	553	54	rule	rule	VERB
cblr-13858	553	55	433(b	433(b	PROPN
cblr-13858	553	56	)	)	PUNCT
cblr-13858	553	57	;	;	PUNCT
cblr-13858	553	58	the	the	DET
cblr-13858	553	59	content	content	NOUN
cblr-13858	553	60	of	of	ADP
cblr-13858	553	61	the	the	DET
cblr-13858	553	62	communication	communication	NOUN
cblr-13858	553	63	,	,	PUNCT
cblr-13858	553	64	rule	rule	VERB
cblr-13858	553	65	433(b)(2)(i	433(b)(2)(i	PROPN
cblr-13858	553	66	)	)	PUNCT
cblr-13858	553	67	,	,	PUNCT
cblr-13858	553	68	(	(	PUNCT
cblr-13858	553	69	c	c	X
cblr-13858	553	70	)	)	PUNCT
cblr-13858	553	71	;	;	PUNCT
cblr-13858	553	72	who	who	PRON
cblr-13858	553	73	is	be	AUX
cblr-13858	553	74	making	make	VERB
cblr-13858	553	75	the	the	DET
cblr-13858	553	76	communication	communication	NOUN
cblr-13858	553	77	,	,	PUNCT
cblr-13858	553	78	rule	rule	NOUN
cblr-13858	553	79	433(d	433(d	PROPN
cblr-13858	553	80	)	)	PUNCT
cblr-13858	553	81	,	,	PUNCT
cblr-13858	553	82	(	(	PUNCT
cblr-13858	553	83	f	f	X
cblr-13858	553	84	)	)	PUNCT
cblr-13858	553	85	;	;	PUNCT
cblr-13858	553	86	where	where	SCONJ
cblr-13858	553	87	the	the	DET
cblr-13858	553	88	information	information	NOUN
cblr-13858	553	89	in	in	ADP
cblr-13858	553	90	the	the	DET
cblr-13858	553	91	communication	communication	NOUN
cblr-13858	553	92	originally	originally	ADV
cblr-13858	553	93	came	come	VERB
cblr-13858	553	94	from	from	ADP
cblr-13858	553	95	,	,	PUNCT
cblr-13858	553	96	rule	rule	NOUN
cblr-13858	553	97	433(d)(1)(i)(b	433(d)(1)(i)(b	NOUN
cblr-13858	553	98	)	)	PUNCT
cblr-13858	553	99	,	,	PUNCT
cblr-13858	553	100	(	(	PUNCT
cblr-13858	553	101	h)(2	h)(2	NOUN
cblr-13858	553	102	)	)	PUNCT
cblr-13858	553	103	;	;	PUNCT
cblr-13858	553	104	whether	whether	SCONJ
cblr-13858	553	105	the	the	DET
cblr-13858	553	106	information	information	NOUN
cblr-13858	553	107	in	in	ADP
cblr-13858	553	108	the	the	DET
cblr-13858	553	109	communication	communication	NOUN
cblr-13858	553	110	is	be	AUX
cblr-13858	553	111	otherwise	otherwise	ADV
cblr-13858	553	112	available	available	ADJ
cblr-13858	553	113	to	to	ADP
cblr-13858	553	114	the	the	DET
cblr-13858	553	115	general	general	ADJ
cblr-13858	553	116	public	public	NOUN
cblr-13858	553	117	,	,	PUNCT
cblr-13858	553	118	rule	rule	NOUN
cblr-13858	553	119	433(d)(8)(ii	433(d)(8)(ii	NUM
cblr-13858	553	120	)	)	PUNCT
cblr-13858	553	121	;	;	PUNCT
cblr-13858	553	122	and	and	CCONJ
cblr-13858	553	123	whether	whether	SCONJ
cblr-13858	553	124	the	the	DET
cblr-13858	553	125	issuer	issuer	NOUN
cblr-13858	553	126	or	or	CCONJ
cblr-13858	553	127	anyone	anyone	PRON
cblr-13858	553	128	else	else	ADV
cblr-13858	553	129	associated	associate	VERB
cblr-13858	553	130	with	with	ADP
cblr-13858	553	131	the	the	DET
cblr-13858	553	132	offering	offering	NOUN
cblr-13858	553	133	paid	pay	VERB
cblr-13858	553	134	for	for	ADP
cblr-13858	553	135	the	the	DET
cblr-13858	553	136	communication	communication	NOUN
cblr-13858	553	137	,	,	PUNCT
cblr-13858	553	138	rule	rule	VERB
cblr-13858	553	139	433(b)(2)(i	433(b)(2)(i	PROPN
cblr-13858	553	140	)	)	PUNCT
cblr-13858	553	141	,	,	PUNCT
cblr-13858	553	142	(	(	PUNCT
cblr-13858	553	143	f)(1)(i	f)(1)(i	NOUN
cblr-13858	553	144	)	)	PUNCT
cblr-13858	553	145	.	.	PUNCT
cblr-13858	554	1	"	"	PUNCT
cblr-13858	554	2	securities	security	NOUN
cblr-13858	554	3	act	act	NOUN
cblr-13858	554	4	of	of	ADP
cblr-13858	554	5	1933	1933	NUM
cblr-13858	554	6	§	§	PROPN
cblr-13858	554	7	5(c	5(c	NUM
cblr-13858	554	8	)	)	PUNCT
cblr-13858	554	9	,	,	PUNCT
cblr-13858	554	10	15	15	NUM
cblr-13858	554	11	u.s.c	u.s.c	ADJ
cblr-13858	554	12	.	.	PUNCT
cblr-13858	555	1	§	§	PROPN
cblr-13858	555	2	77e(c	77e(c	NUM
cblr-13858	555	3	)	)	PUNCT
cblr-13858	555	4	(	(	PUNCT
cblr-13858	555	5	2010	2010	NUM
cblr-13858	555	6	)	)	PUNCT
cblr-13858	555	7	.	.	PUNCT
cblr-13858	556	1	136	136	NUM
cblr-13858	556	2	"	"	PUNCT
cblr-13858	556	3	selling	selling	NOUN
cblr-13858	556	4	"	"	PUNCT
cblr-13858	556	5	includes	include	VERB
cblr-13858	556	6	entering	enter	VERB
cblr-13858	556	7	into	into	ADP
cblr-13858	556	8	a	a	DET
cblr-13858	556	9	contract	contract	NOUN
cblr-13858	556	10	of	of	ADP
cblr-13858	556	11	sale	sale	NOUN
cblr-13858	556	12	.	.	PUNCT
cblr-13858	557	1	see	see	VERB
cblr-13858	557	2	i	i	PRON
cblr-13858	557	3	d.	d.	PROPN
cblr-13858	557	4	§	§	PROPN
cblr-13858	557	5	77b(a)(3	77b(a)(3	PROPN
cblr-13858	557	6	)	)	PUNCT
cblr-13858	557	7	.	.	PUNCT
cblr-13858	558	1	3	3	NUM
cblr-13858	559	1	i	i	PRON
cblr-13858	559	2	d.	d.	PROPN
cblr-13858	559	3	§	§	PROPN
cblr-13858	559	4	77e(a)(1	77e(a)(1	NUM
cblr-13858	559	5	)	)	PUNCT
cblr-13858	559	6	.	.	PUNCT
cblr-13858	560	1	1	1	NUM
cblr-13858	560	2	even	even	ADV
cblr-13858	560	3	if	if	SCONJ
cblr-13858	560	4	they	they	PRON
cblr-13858	560	5	are	be	AUX
cblr-13858	560	6	offering	offer	VERB
cblr-13858	560	7	securities	security	NOUN
cblr-13858	560	8	,	,	PUNCT
cblr-13858	560	9	an	an	DET
cblr-13858	560	10	exemption	exemption	NOUN
cblr-13858	560	11	may	may	AUX
cblr-13858	560	12	be	be	AUX
cblr-13858	560	13	available	available	ADJ
cblr-13858	560	14	.	.	PUNCT
cblr-13858	561	1	see	see	VERB
cblr-13858	561	2	infra	infra	NOUN
cblr-13858	561	3	part	part	NOUN
cblr-13858	561	4	iii.b.2	iii.b.2	X
cblr-13858	561	5	.	.	PUNCT
cblr-13858	561	6	.	.	PUNCT
cblr-13858	562	1	see	see	VERB
cblr-13858	562	2	15	15	NUM
cblr-13858	562	3	u.s.c	u.s.c	ADJ
cblr-13858	562	4	.	.	PUNCT
cblr-13858	563	1	§	§	PROPN
cblr-13858	563	2	§	§	PROPN
cblr-13858	563	3	77b(a)(1	77b(a)(1	NUM
cblr-13858	563	4	)	)	PUNCT
cblr-13858	563	5	,	,	PUNCT
cblr-13858	563	6	78c(a)(10	78c(a)(10	NUM
cblr-13858	563	7	)	)	PUNCT
cblr-13858	563	8	;	;	PUNCT
cblr-13858	563	9	investment	investment	NOUN
cblr-13858	563	10	company	company	NOUN
cblr-13858	563	11	act	act	NOUN
cblr-13858	563	12	of	of	ADP
cblr-13858	563	13	1940	1940	NUM
cblr-13858	563	14	§	§	PROPN
cblr-13858	563	15	2(a)(36	2(a)(36	NUM
cblr-13858	563	16	)	)	PUNCT
cblr-13858	563	17	,	,	PUNCT
cblr-13858	563	18	15	15	NUM
cblr-13858	563	19	u.s.c	u.s.c	ADJ
cblr-13858	563	20	.	.	PUNCT
cblr-13858	564	1	§	§	PROPN
cblr-13858	564	2	80a-2(a)(36	80a-2(a)(36	PROPN
cblr-13858	564	3	)	)	PUNCT
cblr-13858	564	4	(	(	PUNCT
cblr-13858	564	5	2010	2010	NUM
cblr-13858	564	6	)	)	PUNCT
cblr-13858	564	7	;	;	PUNCT
cblr-13858	564	8	investment	investment	NOUN
cblr-13858	564	9	advisers	adviser	NOUN
cblr-13858	564	10	act	act	VERB
cblr-13858	564	11	of	of	ADP
cblr-13858	564	12	1940	1940	NUM
cblr-13858	564	13	§	§	PROPN
cblr-13858	564	14	202(a)(18	202(a)(18	NUM
cblr-13858	564	15	)	)	PUNCT
cblr-13858	564	16	,	,	PUNCT
cblr-13858	564	17	15	15	NUM
cblr-13858	564	18	u.s.c	u.s.c	ADJ
cblr-13858	564	19	.	.	PUNCT
cblr-13858	565	1	§	§	PROPN
cblr-13858	565	2	80b-2(a)(18	80b-2(a)(18	NOUN
cblr-13858	565	3	)	)	PUNCT
cblr-13858	565	4	(	(	PUNCT
cblr-13858	565	5	2010	2010	NUM
cblr-13858	565	6	)	)	PUNCT
cblr-13858	565	7	.	.	PUNCT
cblr-13858	566	1	for	for	ADP
cblr-13858	566	2	convenience	convenience	NOUN
cblr-13858	566	3	,	,	PUNCT
cblr-13858	566	4	this	this	DET
cblr-13858	566	5	article	article	NOUN
cblr-13858	566	6	generally	generally	ADV
cblr-13858	566	7	refers	refer	VERB
cblr-13858	566	8	to	to	ADP
cblr-13858	566	9	the	the	DET
cblr-13858	566	10	securities	security	NOUN
cblr-13858	566	11	act	act	PROPN
cblr-13858	566	12	definition	definition	NOUN
cblr-13858	566	13	unless	unless	SCONJ
cblr-13858	566	14	there	there	PRON
cblr-13858	566	15	is	be	VERB
cblr-13858	566	16	some	some	DET
cblr-13858	566	17	relevant	relevant	ADJ
cblr-13858	566	18	difference	difference	NOUN
cblr-13858	566	19	.	.	PUNCT
cblr-13858	567	1	30	30	NUM
cblr-13858	568	1	[	[	NOUN
cblr-13858	568	2	vol	vol	NOUN
cblr-13858	568	3	.	.	PUNCT
cblr-13858	568	4	2012	2012	NUM
cblr-13858	568	5	cr0	cr0	ADJ
cblr-13858	568	6	wdfunding	wdfunding	NOUN
cblr-13858	568	7	and	and	CCONJ
cblr-13858	568	8	securities	security	NOUN
cblr-13858	568	9	laws	law	NOUN
cblr-13858	568	10	arising	arise	VERB
cblr-13858	568	11	solely	solely	ADV
cblr-13858	568	12	from	from	ADP
cblr-13858	568	13	the	the	DET
cblr-13858	568	14	efforts	effort	NOUN
cblr-13858	568	15	of	of	ADP
cblr-13858	568	16	the	the	DET
cblr-13858	568	17	promoter	promoter	NOUN
cblr-13858	568	18	or	or	CCONJ
cblr-13858	568	19	a	a	DET
cblr-13858	568	20	third	third	ADJ
cblr-13858	568	21	party.14	party.14	NOUN
cblr-13858	568	22	o	o	NOUN
cblr-13858	568	23	both	both	CCONJ
cblr-13858	568	24	the	the	DET
cblr-13858	568	25	supreme	supreme	PROPN
cblr-13858	568	26	court	court	PROPN
cblr-13858	568	27	and	and	CCONJ
cblr-13858	568	28	the	the	DET
cblr-13858	568	29	lower	low	ADJ
cblr-13858	568	30	courts	court	NOUN
cblr-13858	568	31	have	have	AUX
cblr-13858	568	32	refined	refine	VERB
cblr-13858	568	33	the	the	DET
cblr-13858	568	34	howey	howey	PROPN
cblr-13858	568	35	test	test	NOUN
cblr-13858	568	36	over	over	ADP
cblr-13858	568	37	the	the	DET
cblr-13858	568	38	years	year	NOUN
cblr-13858	568	39	,	,	PUNCT
cblr-13858	568	40	but	but	CCONJ
cblr-13858	568	41	its	its	PRON
cblr-13858	568	42	basic	basic	ADJ
cblr-13858	568	43	elements	element	NOUN
cblr-13858	568	44	remain	remain	VERB
cblr-13858	568	45	unchanged	unchanged	ADJ
cblr-13858	568	46	-	-	PUNCT
cblr-13858	568	47	with	with	ADP
cblr-13858	568	48	one	one	NUM
cblr-13858	568	49	significant	significant	ADJ
cblr-13858	568	50	exception	exception	NOUN
cblr-13858	568	51	.	.	PUNCT
cblr-13858	569	1	the	the	DET
cblr-13858	569	2	word	word	NOUN
cblr-13858	569	3	"	"	PUNCT
cblr-13858	569	4	solely	solely	ADV
cblr-13858	569	5	"	"	PUNCT
cblr-13858	569	6	has	have	AUX
cblr-13858	569	7	been	be	AUX
cblr-13858	569	8	eliminated	eliminate	VERB
cblr-13858	569	9	from	from	ADP
cblr-13858	569	10	the	the	DET
cblr-13858	569	11	efforts	effort	NOUN
cblr-13858	569	12	-	-	PUNCT
cblr-13858	569	13	of	of	ADP
cblr-13858	569	14	-	-	PUNCT
cblr-13858	569	15	others	other	NOUN
cblr-13858	569	16	part	part	NOUN
cblr-13858	569	17	of	of	ADP
cblr-13858	569	18	the	the	DET
cblr-13858	569	19	test	test	NOUN
cblr-13858	569	20	.	.	PUNCT
cblr-13858	570	1	instead	instead	ADV
cblr-13858	570	2	,	,	PUNCT
cblr-13858	570	3	the	the	DET
cblr-13858	570	4	question	question	NOUN
cblr-13858	570	5	is	be	AUX
cblr-13858	570	6	"	"	PUNCT
cblr-13858	570	7	whether	whether	SCONJ
cblr-13858	570	8	the	the	DET
cblr-13858	570	9	efforts	effort	NOUN
cblr-13858	570	10	made	make	VERB
cblr-13858	570	11	by	by	ADP
cblr-13858	570	12	those	those	PRON
cblr-13858	570	13	other	other	ADJ
cblr-13858	570	14	than	than	ADP
cblr-13858	570	15	the	the	DET
cblr-13858	570	16	investor	investor	NOUN
cblr-13858	570	17	are	be	AUX
cblr-13858	570	18	the	the	DET
cblr-13858	570	19	undeniably	undeniably	ADV
cblr-13858	570	20	significant	significant	ADJ
cblr-13858	570	21	ones	one	NOUN
cblr-13858	570	22	,	,	PUNCT
cblr-13858	570	23	those	those	DET
cblr-13858	570	24	essential	essential	ADJ
cblr-13858	570	25	managerial	managerial	ADJ
cblr-13858	570	26	efforts	effort	NOUN
cblr-13858	570	27	which	which	PRON
cblr-13858	570	28	affect	affect	VERB
cblr-13858	570	29	the	the	DET
cblr-13858	570	30	failure	failure	NOUN
cblr-13858	570	31	or	or	CCONJ
cblr-13858	570	32	success	success	NOUN
cblr-13858	570	33	of	of	ADP
cblr-13858	570	34	the	the	DET
cblr-13858	570	35	enterprise	enterprise	NOUN
cblr-13858	570	36	.	.	PUNCT
cblr-13858	571	1	"141	"141	PUNCT
cblr-13858	571	2	crowdfunding	crowdfunding	NOUN
cblr-13858	571	3	offerings	offering	NOUN
cblr-13858	571	4	of	of	ADP
cblr-13858	571	5	the	the	DET
cblr-13858	571	6	donation	donation	NOUN
cblr-13858	571	7	,	,	PUNCT
cblr-13858	571	8	reward	reward	NOUN
cblr-13858	571	9	,	,	PUNCT
cblr-13858	571	10	and	and	CCONJ
cblr-13858	571	11	prepurchase	prepurchase	ADJ
cblr-13858	571	12	type	type	NOUN
cblr-13858	571	13	clearly	clearly	ADV
cblr-13858	571	14	do	do	AUX
cblr-13858	571	15	not	not	PART
cblr-13858	571	16	involve	involve	VERB
cblr-13858	571	17	securities	security	NOUN
cblr-13858	571	18	for	for	ADP
cblr-13858	571	19	purposes	purpose	NOUN
cblr-13858	571	20	of	of	ADP
cblr-13858	571	21	federal	federal	ADJ
cblr-13858	571	22	law	law	NOUN
cblr-13858	571	23	.	.	PUNCT
cblr-13858	572	1	crowdfunding	crowdfunde	VERB
cblr-13858	572	2	sites	site	NOUN
cblr-13858	572	3	organized	organize	VERB
cblr-13858	572	4	on	on	ADP
cblr-13858	572	5	the	the	DET
cblr-13858	572	6	lending	lending	NOUN
cblr-13858	572	7	model	model	NOUN
cblr-13858	572	8	probably	probably	ADV
cblr-13858	572	9	are	be	AUX
cblr-13858	572	10	offering	offer	VERB
cblr-13858	572	11	securities	security	NOUN
cblr-13858	572	12	if	if	SCONJ
cblr-13858	572	13	the	the	DET
cblr-13858	572	14	lender	lender	NOUN
cblr-13858	572	15	is	be	AUX
cblr-13858	572	16	promised	promise	VERB
cblr-13858	572	17	interest	interest	NOUN
cblr-13858	572	18	.	.	PUNCT
cblr-13858	573	1	crowdfunding	crowdfunde	VERB
cblr-13858	573	2	sites	site	NOUN
cblr-13858	573	3	organized	organize	VERB
cblr-13858	573	4	on	on	ADP
cblr-13858	573	5	the	the	DET
cblr-13858	573	6	equity	equity	NOUN
cblr-13858	573	7	model	model	NOUN
cblr-13858	573	8	are	be	AUX
cblr-13858	573	9	usually	usually	ADV
cblr-13858	573	10	offering	offer	VERB
cblr-13858	573	11	securities	security	NOUN
cblr-13858	573	12	.	.	PUNCT
cblr-13858	574	1	42	42	NUM
cblr-13858	574	2	1	1	NUM
cblr-13858	574	3	.	.	PUNCT
cblr-13858	575	1	the	the	DET
cblr-13858	575	2	donation	donation	NOUN
cblr-13858	575	3	model	model	NOUN
cblr-13858	575	4	donation	donation	NOUN
cblr-13858	575	5	-	-	PUNCT
cblr-13858	575	6	model	model	NOUN
cblr-13858	575	7	crowdfunding	crowdfunding	NOUN
cblr-13858	575	8	sites	site	NOUN
cblr-13858	575	9	are	be	AUX
cblr-13858	575	10	not	not	PART
cblr-13858	575	11	offering	offer	VERB
cblr-13858	575	12	securities	security	NOUN
cblr-13858	575	13	to	to	ADP
cblr-13858	575	14	investors	investor	NOUN
cblr-13858	575	15	.	.	PUNCT
cblr-13858	576	1	contributors	contributor	NOUN
cblr-13858	576	2	receive	receive	VERB
cblr-13858	576	3	absolutely	absolutely	ADV
cblr-13858	576	4	nothing	nothing	PRON
cblr-13858	576	5	in	in	ADP
cblr-13858	576	6	return	return	NOUN
cblr-13858	576	7	for	for	ADP
cblr-13858	576	8	their	their	PRON
cblr-13858	576	9	contributions	contribution	NOUN
cblr-13858	576	10	,	,	PUNCT
cblr-13858	576	11	so	so	SCONJ
cblr-13858	576	12	they	they	PRON
cblr-13858	576	13	clearly	clearly	ADV
cblr-13858	576	14	have	have	VERB
cblr-13858	576	15	no	no	DET
cblr-13858	576	16	expectation	expectation	NOUN
cblr-13858	576	17	of	of	ADP
cblr-13858	576	18	profits	profit	NOUN
cblr-13858	576	19	,	,	PUNCT
cblr-13858	576	20	a	a	DET
cblr-13858	576	21	requirement	requirement	NOUN
cblr-13858	576	22	for	for	ADP
cblr-13858	576	23	something	something	PRON
cblr-13858	576	24	to	to	PART
cblr-13858	576	25	be	be	AUX
cblr-13858	576	26	an	an	DET
cblr-13858	576	27	investment	investment	NOUN
cblr-13858	576	28	contract	contract	NOUN
cblr-13858	576	29	under	under	ADP
cblr-13858	576	30	howey	howey	PRON
cblr-13858	576	31	.	.	PUNCT
cblr-13858	577	1	and	and	CCONJ
cblr-13858	577	2	contributors	contributor	NOUN
cblr-13858	577	3	to	to	PART
cblr-13858	577	4	donation	donation	NOUN
cblr-13858	577	5	-	-	PUNCT
cblr-13858	577	6	model	model	NOUN
cblr-13858	577	7	sites	site	NOUN
cblr-13858	577	8	are	be	AUX
cblr-13858	577	9	offered	offer	VERB
cblr-13858	577	10	nothing	nothing	PRON
cblr-13858	577	11	else	else	ADV
cblr-13858	577	12	,	,	PUNCT
cblr-13858	577	13	such	such	ADJ
cblr-13858	577	14	as	as	ADP
cblr-13858	577	15	stock'43	stock'43	PROPN
cblr-13858	577	16	or	or	CCONJ
cblr-13858	577	17	notes	note	NOUN
cblr-13858	577	18	,	,	PUNCT
cblr-13858	577	19	4	4	NUM
cblr-13858	577	20	that	that	PRON
cblr-13858	577	21	would	would	AUX
cblr-13858	577	22	fall	fall	VERB
cblr-13858	577	23	within	within	ADP
cblr-13858	577	24	the	the	DET
cblr-13858	577	25	general	general	ADJ
cblr-13858	577	26	definition	definition	NOUN
cblr-13858	577	27	of	of	ADP
cblr-13858	577	28	a	a	DET
cblr-13858	577	29	14	14	NUM
cblr-13858	577	30	sec	sec	PROPN
cblr-13858	577	31	v.	v.	ADP
cblr-13858	577	32	w.	w.	PROPN
cblr-13858	577	33	j.	j.	PROPN
cblr-13858	577	34	howey	howey	PROPN
cblr-13858	577	35	co.	co.	PROPN
cblr-13858	577	36	,	,	PUNCT
cblr-13858	577	37	328	328	NUM
cblr-13858	577	38	u.s	u.s	PROPN
cblr-13858	577	39	.	.	PROPN
cblr-13858	577	40	293	293	NUM
cblr-13858	577	41	,	,	PUNCT
cblr-13858	577	42	298	298	NUM
cblr-13858	577	43	-	-	SYM
cblr-13858	577	44	99	99	NUM
cblr-13858	577	45	(	(	PUNCT
cblr-13858	577	46	1946	1946	NUM
cblr-13858	577	47	)	)	PUNCT
cblr-13858	577	48	.	.	PUNCT
cblr-13858	578	1	141	141	NUM
cblr-13858	578	2	sec	sec	PROPN
cblr-13858	578	3	v.	v.	PROPN
cblr-13858	578	4	glenn	glenn	PROPN
cblr-13858	578	5	w.	w.	PROPN
cblr-13858	578	6	turner	turner	PROPN
cblr-13858	578	7	enters	enter	VERB
cblr-13858	578	8	.	.	PUNCT
cblr-13858	578	9	,	,	PUNCT
cblr-13858	578	10	inc	inc	PROPN
cblr-13858	578	11	.	.	PROPN
cblr-13858	578	12	,	,	PUNCT
cblr-13858	578	13	474	474	NUM
cblr-13858	578	14	f.2d	f.2d	ADP
cblr-13858	578	15	476	476	NUM
cblr-13858	578	16	,	,	PUNCT
cblr-13858	578	17	482	482	NUM
cblr-13858	578	18	(	(	PUNCT
cblr-13858	578	19	9th	9th	ADJ
cblr-13858	578	20	cir	cir	NOUN
cblr-13858	578	21	.	.	PROPN
cblr-13858	578	22	1973	1973	NUM
cblr-13858	578	23	)	)	PUNCT
cblr-13858	578	24	;	;	PUNCT
cblr-13858	578	25	accord	accord	NOUN
cblr-13858	578	26	sec	sec	PROPN
cblr-13858	578	27	v.	v.	PROPN
cblr-13858	578	28	koscot	koscot	PROPN
cblr-13858	578	29	interplanetary	interplanetary	PROPN
cblr-13858	578	30	,	,	PUNCT
cblr-13858	578	31	inc	inc	PROPN
cblr-13858	578	32	.	.	PROPN
cblr-13858	578	33	,	,	PUNCT
cblr-13858	578	34	497	497	NUM
cblr-13858	578	35	f.2d	f.2d	NOUN
cblr-13858	578	36	473	473	NUM
cblr-13858	578	37	,	,	PUNCT
cblr-13858	578	38	483	483	NUM
cblr-13858	578	39	(	(	PUNCT
cblr-13858	578	40	5th	5th	ADJ
cblr-13858	578	41	cir	cir	NOUN
cblr-13858	578	42	.	.	PROPN
cblr-13858	578	43	1974	1974	NUM
cblr-13858	578	44	)	)	PUNCT
cblr-13858	578	45	.	.	PUNCT
cblr-13858	579	1	142	142	NUM
cblr-13858	579	2	heminway	heminway	NOUN
cblr-13858	579	3	and	and	CCONJ
cblr-13858	579	4	hoffman	hoffman	NOUN
cblr-13858	579	5	have	have	AUX
cblr-13858	579	6	similarly	similarly	ADV
cblr-13858	579	7	concluded	conclude	VERB
cblr-13858	579	8	that	that	SCONJ
cblr-13858	579	9	at	at	ADV
cblr-13858	579	10	least	least	ADJ
cblr-13858	579	11	some	some	PRON
cblr-13858	579	12	crowdfunding	crowdfunding	NOUN
cblr-13858	579	13	offerings	offering	NOUN
cblr-13858	579	14	are	be	AUX
cblr-13858	579	15	securities	security	NOUN
cblr-13858	579	16	under	under	ADP
cblr-13858	579	17	the	the	DET
cblr-13858	579	18	howey	howey	PROPN
cblr-13858	579	19	investment	investment	PROPN
cblr-13858	579	20	contract	contract	NOUN
cblr-13858	579	21	test	test	NOUN
cblr-13858	579	22	.	.	PUNCT
cblr-13858	580	1	see	see	VERB
cblr-13858	580	2	joan	joan	PROPN
cblr-13858	580	3	macleod	macleod	PROPN
cblr-13858	580	4	heminway	heminway	PROPN
cblr-13858	580	5	&	&	CCONJ
cblr-13858	580	6	shelden	shelden	PROPN
cblr-13858	580	7	ryan	ryan	PROPN
cblr-13858	580	8	hoffman	hoffman	PROPN
cblr-13858	580	9	,	,	PUNCT
cblr-13858	580	10	proceed	procee	VERB
cblr-13858	580	11	at	at	ADP
cblr-13858	580	12	your	your	PRON
cblr-13858	580	13	peril	peril	NOUN
cblr-13858	580	14	:	:	PUNCT
cblr-13858	580	15	crowdfunding	crowdfunding	NOUN
cblr-13858	580	16	and	and	CCONJ
cblr-13858	580	17	the	the	DET
cblr-13858	580	18	securities	security	NOUN
cblr-13858	580	19	act	act	NOUN
cblr-13858	580	20	of	of	ADP
cblr-13858	580	21	1933	1933	NUM
cblr-13858	580	22	,	,	PUNCT
cblr-13858	580	23	78	78	NUM
cblr-13858	580	24	tenn	tenn	PROPN
cblr-13858	580	25	.	.	PUNCT
cblr-13858	581	1	l.	l.	PROPN
cblr-13858	581	2	rev	rev	PROPN
cblr-13858	581	3	.	.	PROPN
cblr-13858	581	4	879	879	NUM
cblr-13858	581	5	,	,	PUNCT
cblr-13858	581	6	892	892	NUM
cblr-13858	581	7	-	-	SYM
cblr-13858	581	8	906	906	NUM
cblr-13858	581	9	(	(	PUNCT
cblr-13858	581	10	2011	2011	NUM
cblr-13858	581	11	)	)	PUNCT
cblr-13858	581	12	.	.	PUNCT
cblr-13858	582	1	"	"	PUNCT
cblr-13858	582	2	see	see	VERB
cblr-13858	582	3	landreth	landreth	PROPN
cblr-13858	582	4	timber	timber	PROPN
cblr-13858	582	5	co.	co.	PROPN
cblr-13858	583	1	v.	v.	ADP
cblr-13858	583	2	landreth	landreth	PROPN
cblr-13858	583	3	,	,	PUNCT
cblr-13858	583	4	471	471	NUM
cblr-13858	583	5	u.s	u.s	PROPN
cblr-13858	583	6	.	.	PROPN
cblr-13858	583	7	681	681	NUM
cblr-13858	583	8	(	(	PUNCT
cblr-13858	583	9	1985	1985	NUM
cblr-13858	583	10	)	)	PUNCT
cblr-13858	583	11	(	(	PUNCT
cblr-13858	583	12	holding	hold	VERB
cblr-13858	583	13	that	that	PRON
cblr-13858	583	14	ordinary	ordinary	ADJ
cblr-13858	583	15	corporate	corporate	ADJ
cblr-13858	583	16	stock	stock	NOUN
cblr-13858	583	17	is	be	AUX
cblr-13858	583	18	a	a	DET
cblr-13858	583	19	security	security	NOUN
cblr-13858	583	20	)	)	PUNCT
cblr-13858	583	21	.	.	PUNCT
cblr-13858	584	1	'	'	PUNCT
cblr-13858	584	2	"	"	PUNCT
cblr-13858	584	3	see	see	VERB
cblr-13858	584	4	reves	ref	NOUN
cblr-13858	584	5	v.	v.	ADP
cblr-13858	584	6	ernst	ernst	PROPN
cblr-13858	584	7	&	&	CCONJ
cblr-13858	584	8	young	young	PROPN
cblr-13858	584	9	,	,	PUNCT
cblr-13858	584	10	494	494	NUM
cblr-13858	584	11	u.s	u.s	PROPN
cblr-13858	584	12	.	.	PROPN
cblr-13858	584	13	56	56	NUM
cblr-13858	584	14	(	(	PUNCT
cblr-13858	584	15	1990	1990	NUM
cblr-13858	584	16	)	)	PUNCT
cblr-13858	584	17	(	(	PUNCT
cblr-13858	584	18	applying	apply	VERB
cblr-13858	584	19	the	the	DET
cblr-13858	584	20	"	"	PUNCT
cblr-13858	584	21	family	family	NOUN
cblr-13858	584	22	resemblance	resemblance	NOUN
cblr-13858	584	23	"	"	PUNCT
cblr-13858	584	24	test	test	NOUN
cblr-13858	584	25	to	to	PART
cblr-13858	584	26	determine	determine	VERB
cblr-13858	584	27	whether	whether	SCONJ
cblr-13858	584	28	a	a	DET
cblr-13858	584	29	note	note	NOUN
cblr-13858	584	30	is	be	AUX
cblr-13858	584	31	a	a	DET
cblr-13858	584	32	security	security	NOUN
cblr-13858	584	33	)	)	PUNCT
cblr-13858	584	34	.	.	PUNCT
cblr-13858	585	1	no	no	INTJ
cblr-13858	585	2	.	.	PUNCT
cblr-13858	586	1	i:1	i:1	PROPN
cblr-13858	586	2	]	]	PUNCT
cblr-13858	586	3	31	31	NUM
cblr-13858	586	4	columbia	columbia	PROPN
cblr-13858	586	5	business	business	NOUN
cblr-13858	586	6	law	law	PROPN
cblr-13858	586	7	review	review	VERB
cblr-13858	586	8	security	security	NOUN
cblr-13858	586	9	.	.	PUNCT
cblr-13858	587	1	"	"	PUNCT
cblr-13858	587	2	'	'	PUNCT
cblr-13858	587	3	gratuitous	gratuitous	ADJ
cblr-13858	587	4	contributions	contribution	NOUN
cblr-13858	587	5	,	,	PUNCT
cblr-13858	587	6	even	even	ADV
cblr-13858	587	7	to	to	ADP
cblr-13858	587	8	a	a	DET
cblr-13858	587	9	business	business	NOUN
cblr-13858	587	10	entity	entity	NOUN
cblr-13858	587	11	,	,	PUNCT
cblr-13858	587	12	simply	simply	ADV
cblr-13858	587	13	are	be	AUX
cblr-13858	587	14	not	not	PART
cblr-13858	587	15	securities	security	NOUN
cblr-13858	587	16	.	.	PUNCT
cblr-13858	588	1	2	2	X
cblr-13858	588	2	.	.	X
cblr-13858	588	3	the	the	DET
cblr-13858	588	4	reward	reward	NOUN
cblr-13858	588	5	and	and	CCONJ
cblr-13858	588	6	pre	pre	ADJ
cblr-13858	588	7	-	-	ADJ
cblr-13858	588	8	purchase	purchase	NOUN
cblr-13858	588	9	models	model	NOUN
cblr-13858	588	10	the	the	DET
cblr-13858	588	11	reward	reward	NOUN
cblr-13858	588	12	and	and	CCONJ
cblr-13858	588	13	pre	pre	ADJ
cblr-13858	588	14	-	-	ADJ
cblr-13858	588	15	purchase	purchase	NOUN
cblr-13858	588	16	models	model	NOUN
cblr-13858	588	17	also	also	ADV
cblr-13858	588	18	do	do	AUX
cblr-13858	588	19	not	not	PART
cblr-13858	588	20	involve	involve	VERB
cblr-13858	588	21	securities	security	NOUN
cblr-13858	588	22	under	under	ADP
cblr-13858	588	23	federal	federal	ADJ
cblr-13858	588	24	law	law	NOUN
cblr-13858	588	25	,	,	PUNCT
cblr-13858	588	26	as	as	ADV
cblr-13858	588	27	long	long	ADV
cblr-13858	588	28	as	as	SCONJ
cblr-13858	588	29	the	the	DET
cblr-13858	588	30	reward	reward	NOUN
cblr-13858	588	31	or	or	CCONJ
cblr-13858	588	32	the	the	DET
cblr-13858	588	33	pre	pre	ADJ
cblr-13858	588	34	-	-	ADJ
cblr-13858	588	35	purchased	purchased	ADJ
cblr-13858	588	36	product	product	NOUN
cblr-13858	588	37	is	be	AUX
cblr-13858	588	38	all	all	DET
cblr-13858	588	39	the	the	DET
cblr-13858	588	40	investor	investor	NOUN
cblr-13858	588	41	is	be	AUX
cblr-13858	588	42	promised	promise	VERB
cblr-13858	588	43	in	in	ADP
cblr-13858	588	44	return	return	NOUN
cblr-13858	588	45	for	for	ADP
cblr-13858	588	46	her	her	PRON
cblr-13858	588	47	contribution	contribution	NOUN
cblr-13858	588	48	.	.	PUNCT
cblr-13858	589	1	the	the	DET
cblr-13858	589	2	supreme	supreme	PROPN
cblr-13858	589	3	court	court	PROPN
cblr-13858	589	4	has	have	AUX
cblr-13858	589	5	drawn	draw	VERB
cblr-13858	589	6	a	a	DET
cblr-13858	589	7	clear	clear	ADJ
cblr-13858	589	8	distinction	distinction	NOUN
cblr-13858	589	9	between	between	ADP
cblr-13858	589	10	investment	investment	NOUN
cblr-13858	589	11	and	and	CCONJ
cblr-13858	589	12	consumption	consumption	NOUN
cblr-13858	589	13	.	.	PUNCT
cblr-13858	590	1	an	an	DET
cblr-13858	590	2	investment	investment	NOUN
cblr-13858	590	3	contract	contract	NOUN
cblr-13858	590	4	is	be	AUX
cblr-13858	590	5	present	present	ADJ
cblr-13858	590	6	only	only	ADV
cblr-13858	590	7	when	when	SCONJ
cblr-13858	590	8	an	an	DET
cblr-13858	590	9	investor	investor	NOUN
cblr-13858	590	10	is	be	AUX
cblr-13858	590	11	offered	offer	VERB
cblr-13858	590	12	a	a	DET
cblr-13858	590	13	financial	financial	ADJ
cblr-13858	590	14	return	return	NOUN
cblr-13858	590	15	on	on	ADP
cblr-13858	590	16	his	his	PRON
cblr-13858	590	17	investment	investment	NOUN
cblr-13858	590	18	,	,	PUNCT
cblr-13858	590	19	such	such	ADJ
cblr-13858	590	20	as	as	ADP
cblr-13858	590	21	capital	capital	NOUN
cblr-13858	590	22	appreciation	appreciation	NOUN
cblr-13858	590	23	or	or	CCONJ
cblr-13858	590	24	a	a	DET
cblr-13858	590	25	participation	participation	NOUN
cblr-13858	590	26	in	in	ADP
cblr-13858	590	27	earnings	earning	NOUN
cblr-13858	590	28	4	4	NUM
cblr-13858	590	29	6	6	NUM
cblr-13858	590	30	or	or	CCONJ
cblr-13858	590	31	even	even	ADV
cblr-13858	590	32	a	a	DET
cblr-13858	590	33	fixed	fix	VERB
cblr-13858	590	34	rate	rate	NOUN
cblr-13858	590	35	of	of	ADP
cblr-13858	590	36	interest	interest	NOUN
cblr-13858	590	37	.	.	PUNCT
cblr-13858	591	1	"4	"4	ADJ
cblr-13858	591	2	if	if	SCONJ
cblr-13858	591	3	"	"	PUNCT
cblr-13858	591	4	a	a	DET
cblr-13858	591	5	purchaser	purchaser	NOUN
cblr-13858	591	6	is	be	AUX
cblr-13858	591	7	motivated	motivate	VERB
cblr-13858	591	8	by	by	ADP
cblr-13858	591	9	a	a	DET
cblr-13858	591	10	desire	desire	NOUN
cblr-13858	591	11	to	to	PART
cblr-13858	591	12	use	use	VERB
cblr-13858	591	13	or	or	CCONJ
cblr-13858	591	14	consume	consume	VERB
cblr-13858	591	15	the	the	DET
cblr-13858	591	16	item	item	NOUN
cblr-13858	591	17	purchased	purchase	VERB
cblr-13858	591	18	.	.	PUNCT
cblr-13858	592	1	..	..	PUNCT
cblr-13858	593	1	the	the	DET
cblr-13858	593	2	securities	security	NOUN
cblr-13858	593	3	laws	law	NOUN
cblr-13858	593	4	do	do	AUX
cblr-13858	593	5	not	not	PART
cblr-13858	593	6	apply	apply	VERB
cblr-13858	593	7	.	.	PUNCT
cblr-13858	594	1	"148	"148	NOUN
cblr-13858	594	2	it	it	PRON
cblr-13858	594	3	does	do	AUX
cblr-13858	594	4	not	not	PART
cblr-13858	594	5	matter	matter	VERB
cblr-13858	594	6	that	that	SCONJ
cblr-13858	594	7	the	the	DET
cblr-13858	594	8	contributor	contributor	NOUN
cblr-13858	594	9	is	be	AUX
cblr-13858	594	10	promised	promise	VERB
cblr-13858	594	11	a	a	DET
cblr-13858	594	12	lower	low	ADJ
cblr-13858	594	13	price	price	NOUN
cblr-13858	594	14	for	for	ADP
cblr-13858	594	15	the	the	DET
cblr-13858	594	16	product	product	NOUN
cblr-13858	594	17	than	than	SCONJ
cblr-13858	594	18	the	the	DET
cblr-13858	594	19	general	general	ADJ
cblr-13858	594	20	public	public	NOUN
cblr-13858	594	21	will	will	AUX
cblr-13858	594	22	pay	pay	VERB
cblr-13858	594	23	.	.	PUNCT
cblr-13858	595	1	contributors	contributor	NOUN
cblr-13858	595	2	on	on	ADP
cblr-13858	595	3	reward	reward	NOUN
cblr-13858	595	4	or	or	CCONJ
cblr-13858	595	5	pre	pre	ADJ
cblr-13858	595	6	-	-	ADJ
cblr-13858	595	7	purchase	purchase	ADJ
cblr-13858	595	8	sites	site	NOUN
cblr-13858	595	9	are	be	AUX
cblr-13858	595	10	offered	offer	VERB
cblr-13858	595	11	no	no	DET
cblr-13858	595	12	financial	financial	ADJ
cblr-13858	595	13	return	return	NOUN
cblr-13858	595	14	of	of	ADP
cblr-13858	595	15	any	any	DET
cblr-13858	595	16	kind	kind	NOUN
cblr-13858	595	17	.	.	PUNCT
cblr-13858	596	1	they	they	PRON
cblr-13858	596	2	are	be	AUX
cblr-13858	596	3	promised	promise	VERB
cblr-13858	596	4	only	only	ADV
cblr-13858	596	5	a	a	DET
cblr-13858	596	6	product	product	NOUN
cblr-13858	596	7	or	or	CCONJ
cblr-13858	596	8	service	service	NOUN
cblr-13858	596	9	-	-	PUNCT
cblr-13858	596	10	a	a	DET
cblr-13858	596	11	consumption	consumption	NOUN
cblr-13858	596	12	item	item	NOUN
cblr-13858	596	13	.	.	PUNCT
cblr-13858	597	1	therefore	therefore	ADV
cblr-13858	597	2	,	,	PUNCT
cblr-13858	597	3	no	no	DET
cblr-13858	597	4	investment	investment	NOUN
cblr-13858	597	5	contract	contract	NOUN
cblr-13858	597	6	is	be	AUX
cblr-13858	597	7	being	be	AUX
cblr-13858	597	8	offered	offer	VERB
cblr-13858	597	9	.	.	PUNCT
cblr-13858	598	1	and	and	CCONJ
cblr-13858	598	2	,	,	PUNCT
cblr-13858	598	3	because	because	SCONJ
cblr-13858	598	4	investors	investor	NOUN
cblr-13858	598	5	on	on	ADP
cblr-13858	598	6	reward	reward	NOUN
cblr-13858	598	7	or	or	CCONJ
cblr-13858	598	8	pre	pre	ADJ
cblr-13858	598	9	-	-	ADJ
cblr-13858	598	10	purchase	purchase	ADJ
cblr-13858	598	11	sites	site	NOUN
cblr-13858	598	12	are	be	AUX
cblr-13858	598	13	not	not	PART
cblr-13858	598	14	offered	offer	VERB
cblr-13858	598	15	stock	stock	NOUN
cblr-13858	598	16	,	,	PUNCT
cblr-13858	598	17	notes	note	NOUN
cblr-13858	598	18	,	,	PUNCT
cblr-13858	598	19	or	or	CCONJ
cblr-13858	598	20	anything	anything	PRON
cblr-13858	598	21	else	else	ADV
cblr-13858	598	22	that	that	PRON
cblr-13858	598	23	falls	fall	VERB
cblr-13858	598	24	within	within	ADP
cblr-13858	598	25	the	the	DET
cblr-13858	598	26	definition	definition	NOUN
cblr-13858	598	27	of	of	ADP
cblr-13858	598	28	security	security	NOUN
cblr-13858	598	29	,	,	PUNCT
cblr-13858	598	30	federal	federal	ADJ
cblr-13858	598	31	securities	security	NOUN
cblr-13858	598	32	law	law	NOUN
cblr-13858	598	33	does	do	AUX
cblr-13858	598	34	not	not	PART
cblr-13858	598	35	apply	apply	VERB
cblr-13858	598	36	.	.	PUNCT
cblr-13858	598	37	..	..	PUNCT
cblr-13858	599	1	securities	security	NOUN
cblr-13858	599	2	act	act	NOUN
cblr-13858	599	3	of	of	ADP
cblr-13858	599	4	1933	1933	NUM
cblr-13858	599	5	§	§	PROPN
cblr-13858	599	6	2(a)(1	2(a)(1	NUM
cblr-13858	599	7	)	)	PUNCT
cblr-13858	599	8	,	,	PUNCT
cblr-13858	599	9	15	15	NUM
cblr-13858	599	10	u.s.c	u.s.c	ADJ
cblr-13858	599	11	.	.	PUNCT
cblr-13858	600	1	§	§	PROPN
cblr-13858	600	2	77b(a)(1	77b(a)(1	NUM
cblr-13858	600	3	)	)	PUNCT
cblr-13858	600	4	(	(	PUNCT
cblr-13858	600	5	2010	2010	NUM
cblr-13858	600	6	)	)	PUNCT
cblr-13858	600	7	.	.	PUNCT
cblr-13858	601	1	1	1	NUM
cblr-13858	601	2	"	"	PUNCT
cblr-13858	601	3	united	united	PROPN
cblr-13858	601	4	hous	hous	PROPN
cblr-13858	601	5	.	.	PUNCT
cblr-13858	601	6	found	find	VERB
cblr-13858	601	7	.	.	PROPN
cblr-13858	602	1	,	,	PUNCT
cblr-13858	602	2	inc	inc	PROPN
cblr-13858	603	1	.	.	PROPN
cblr-13858	603	2	v.	v.	PROPN
cblr-13858	603	3	forman	forman	PROPN
cblr-13858	603	4	,	,	PUNCT
cblr-13858	603	5	421	421	NUM
cblr-13858	603	6	u.s	u.s	PROPN
cblr-13858	603	7	.	.	PROPN
cblr-13858	603	8	837	837	NUM
cblr-13858	603	9	,	,	PUNCT
cblr-13858	603	10	853	853	NUM
cblr-13858	603	11	(	(	PUNCT
cblr-13858	603	12	1975	1975	NUM
cblr-13858	603	13	)	)	PUNCT
cblr-13858	603	14	.	.	PUNCT
cblr-13858	604	1	147	147	NUM
cblr-13858	604	2	sec	sec	PROPN
cblr-13858	604	3	v.	v.	PROPN
cblr-13858	604	4	edwards	edwards	PROPN
cblr-13858	604	5	,	,	PUNCT
cblr-13858	604	6	540	540	NUM
cblr-13858	604	7	u.s	u.s	PROPN
cblr-13858	604	8	.	.	PROPN
cblr-13858	604	9	389	389	NUM
cblr-13858	604	10	,	,	PUNCT
cblr-13858	604	11	397	397	NUM
cblr-13858	604	12	(	(	PUNCT
cblr-13858	604	13	2004	2004	NUM
cblr-13858	604	14	)	)	PUNCT
cblr-13858	604	15	.	.	PUNCT
cblr-13858	605	1	"	"	PUNCT
cblr-13858	605	2	n	n	CCONJ
cblr-13858	605	3	united	united	PROPN
cblr-13858	605	4	hous	hous	PROPN
cblr-13858	605	5	.	.	PUNCT
cblr-13858	605	6	found	find	VERB
cblr-13858	605	7	.	.	PUNCT
cblr-13858	606	1	,	,	PUNCT
cblr-13858	606	2	421	421	NUM
cblr-13858	606	3	u.s	u.s	PROPN
cblr-13858	606	4	.	.	PROPN
cblr-13858	606	5	at	at	ADP
cblr-13858	606	6	852	852	NUM
cblr-13858	606	7	-	-	SYM
cblr-13858	606	8	53	53	NUM
cblr-13858	606	9	.	.	PUNCT
cblr-13858	607	1	it	it	PRON
cblr-13858	607	2	is	be	AUX
cblr-13858	607	3	possible	possible	ADJ
cblr-13858	607	4	that	that	SCONJ
cblr-13858	607	5	these	these	PRON
cblr-13858	607	6	might	might	AUX
cblr-13858	607	7	be	be	AUX
cblr-13858	607	8	securities	security	NOUN
cblr-13858	607	9	under	under	ADP
cblr-13858	607	10	state	state	NOUN
cblr-13858	607	11	law	law	NOUN
cblr-13858	607	12	.	.	PUNCT
cblr-13858	608	1	some	some	DET
cblr-13858	608	2	states	state	NOUN
cblr-13858	608	3	use	use	VERB
cblr-13858	608	4	a	a	DET
cblr-13858	608	5	risk	risk	NOUN
cblr-13858	608	6	capital	capital	NOUN
cblr-13858	608	7	test	test	NOUN
cblr-13858	608	8	to	to	PART
cblr-13858	608	9	define	define	VERB
cblr-13858	608	10	securities	security	NOUN
cblr-13858	608	11	.	.	PUNCT
cblr-13858	609	1	the	the	DET
cblr-13858	609	2	risk	risk	NOUN
cblr-13858	609	3	capital	capital	NOUN
cblr-13858	609	4	test	test	NOUN
cblr-13858	609	5	has	have	VERB
cblr-13858	609	6	three	three	NUM
cblr-13858	609	7	elements	element	NOUN
cblr-13858	609	8	:	:	PUNCT
cblr-13858	609	9	"	"	PUNCT
cblr-13858	609	10	(	(	PUNCT
cblr-13858	609	11	1	1	X
cblr-13858	609	12	)	)	PUNCT
cblr-13858	609	13	an	an	DET
cblr-13858	609	14	investment	investment	NOUN
cblr-13858	609	15	,	,	PUNCT
cblr-13858	609	16	(	(	PUNCT
cblr-13858	609	17	2	2	X
cblr-13858	609	18	)	)	PUNCT
cblr-13858	609	19	in	in	ADP
cblr-13858	609	20	the	the	DET
cblr-13858	609	21	risk	risk	NOUN
cblr-13858	609	22	capital	capital	NOUN
cblr-13858	609	23	of	of	ADP
cblr-13858	609	24	an	an	DET
cblr-13858	609	25	enterprise	enterprise	NOUN
cblr-13858	609	26	,	,	PUNCT
cblr-13858	609	27	and	and	CCONJ
cblr-13858	609	28	(	(	PUNCT
cblr-13858	609	29	3	3	X
cblr-13858	609	30	)	)	PUNCT
cblr-13858	609	31	the	the	DET
cblr-13858	609	32	expectation	expectation	NOUN
cblr-13858	609	33	of	of	ADP
cblr-13858	609	34	a	a	DET
cblr-13858	609	35	benefit	benefit	NOUN
cblr-13858	609	36	.	.	PUNCT
cblr-13858	609	37	"	"	PUNCT
cblr-13858	610	1	joseph	joseph	PROPN
cblr-13858	610	2	c.	c.	PROPN
cblr-13858	610	3	long	long	PROPN
cblr-13858	610	4	,	,	PUNCT
cblr-13858	610	5	12	12	NUM
cblr-13858	610	6	blue	blue	ADJ
cblr-13858	610	7	sky	sky	NOUN
cblr-13858	610	8	l.	l.	PROPN
cblr-13858	610	9	2:80	2:80	NUM
cblr-13858	610	10	(	(	PUNCT
cblr-13858	610	11	2011	2011	NUM
cblr-13858	610	12	)	)	PUNCT
cblr-13858	610	13	.	.	PUNCT
cblr-13858	611	1	the	the	DET
cblr-13858	611	2	benefit	benefit	NOUN
cblr-13858	611	3	expected	expect	VERB
cblr-13858	611	4	need	need	AUX
cblr-13858	611	5	not	not	PART
cblr-13858	611	6	be	be	AUX
cblr-13858	611	7	an	an	DET
cblr-13858	611	8	interest	interest	NOUN
cblr-13858	611	9	in	in	ADP
cblr-13858	611	10	profits	profit	NOUN
cblr-13858	611	11	,	,	PUNCT
cblr-13858	611	12	but	but	CCONJ
cblr-13858	611	13	can	can	AUX
cblr-13858	611	14	be	be	AUX
cblr-13858	611	15	any	any	DET
cblr-13858	611	16	benefit	benefit	NOUN
cblr-13858	611	17	that	that	PRON
cblr-13858	611	18	motivates	motivate	VERB
cblr-13858	611	19	the	the	DET
cblr-13858	611	20	investor	investor	NOUN
cblr-13858	611	21	to	to	PART
cblr-13858	611	22	invest	invest	VERB
cblr-13858	611	23	.	.	PUNCT
cblr-13858	612	1	i	i	PRON
cblr-13858	612	2	d.	d.	PROPN
cblr-13858	612	3	see	see	VERB
cblr-13858	612	4	also	also	ADV
cblr-13858	612	5	silver	silver	ADJ
cblr-13858	612	6	hills	hill	NOUN
cblr-13858	612	7	country	country	NOUN
cblr-13858	612	8	club	club	NOUN
cblr-13858	612	9	v.	v.	ADP
cblr-13858	612	10	sobieski	sobieski	PROPN
cblr-13858	612	11	,	,	PUNCT
cblr-13858	612	12	361	361	NUM
cblr-13858	612	13	p.2d	p.2d	NUM
cblr-13858	612	14	906	906	NUM
cblr-13858	612	15	(	(	PUNCT
cblr-13858	612	16	cal	cal	NUM
cblr-13858	612	17	.	.	PUNCT
cblr-13858	612	18	1961	1961	NUM
cblr-13858	612	19	)	)	PUNCT
cblr-13858	612	20	(	(	PUNCT
cblr-13858	612	21	finding	find	VERB
cblr-13858	612	22	a	a	DET
cblr-13858	612	23	security	security	NOUN
cblr-13858	612	24	where	where	SCONJ
cblr-13858	612	25	a	a	DET
cblr-13858	612	26	country	country	NOUN
cblr-13858	612	27	club	club	NOUN
cblr-13858	612	28	pre	pre	ADJ
cblr-13858	612	29	-	-	ADJ
cblr-13858	612	30	sold	sell	VERB
cblr-13858	612	31	club	club	NOUN
cblr-13858	612	32	memberships	membership	NOUN
cblr-13858	612	33	to	to	PART
cblr-13858	612	34	raise	raise	VERB
cblr-13858	612	35	startup	startup	NOUN
cblr-13858	612	36	capital	capital	NOUN
cblr-13858	612	37	)	)	PUNCT
cblr-13858	612	38	;	;	PUNCT
cblr-13858	612	39	hazen	hazen	PROPN
cblr-13858	612	40	,	,	PUNCT
cblr-13858	612	41	supra	supra	PROPN
cblr-13858	612	42	note	note	PROPN
cblr-13858	612	43	42	42	NUM
cblr-13858	612	44	,	,	PUNCT
cblr-13858	612	45	at	at	ADP
cblr-13858	612	46	110	110	NUM
cblr-13858	612	47	.	.	PUNCT
cblr-13858	612	48	32	32	NUM
cblr-13858	613	1	[	[	X
cblr-13858	613	2	vol	vol	NOUN
cblr-13858	613	3	.	.	PUNCT
cblr-13858	613	4	2012	2012	NUM
cblr-13858	613	5	3	3	NUM
cblr-13858	613	6	.	.	PUNCT
cblr-13858	614	1	the	the	DET
cblr-13858	614	2	equity	equity	NOUN
cblr-13858	614	3	model	model	PROPN
cblr-13858	614	4	equity	equity	NOUN
cblr-13858	614	5	-	-	PUNCT
cblr-13858	614	6	model	model	NOUN
cblr-13858	614	7	crowdfunding	crowdfunding	NOUN
cblr-13858	614	8	would	would	AUX
cblr-13858	614	9	usually	usually	ADV
cblr-13858	614	10	involve	involve	VERB
cblr-13858	614	11	securities	security	NOUN
cblr-13858	614	12	.	.	PUNCT
cblr-13858	615	1	if	if	SCONJ
cblr-13858	615	2	investors	investor	NOUN
cblr-13858	615	3	receive	receive	VERB
cblr-13858	615	4	ordinary	ordinary	ADJ
cblr-13858	615	5	corporate	corporate	ADJ
cblr-13858	615	6	stock	stock	NOUN
cblr-13858	615	7	in	in	ADP
cblr-13858	615	8	exchange	exchange	NOUN
cblr-13858	615	9	for	for	ADP
cblr-13858	615	10	their	their	PRON
cblr-13858	615	11	contributions	contribution	NOUN
cblr-13858	615	12	,	,	PUNCT
cblr-13858	615	13	they	they	PRON
cblr-13858	615	14	clearly	clearly	ADV
cblr-13858	615	15	are	be	AUX
cblr-13858	615	16	purchasing	purchase	VERB
cblr-13858	615	17	securities	security	NOUN
cblr-13858	615	18	.	.	PUNCT
cblr-13858	616	1	the	the	DET
cblr-13858	616	2	definition	definition	NOUN
cblr-13858	616	3	of	of	ADP
cblr-13858	616	4	security	security	NOUN
cblr-13858	616	5	includes	include	VERB
cblr-13858	616	6	"	"	PUNCT
cblr-13858	616	7	stock,"'49	stock,"'49	X
cblr-13858	616	8	and	and	CCONJ
cblr-13858	616	9	the	the	DET
cblr-13858	616	10	supreme	supreme	PROPN
cblr-13858	616	11	court	court	PROPN
cblr-13858	616	12	has	have	AUX
cblr-13858	616	13	held	hold	VERB
cblr-13858	616	14	that	that	SCONJ
cblr-13858	616	15	ordinary	ordinary	ADJ
cblr-13858	616	16	corporate	corporate	ADJ
cblr-13858	616	17	stock	stock	NOUN
cblr-13858	616	18	is	be	AUX
cblr-13858	616	19	a	a	DET
cblr-13858	616	20	security	security	NOUN
cblr-13858	616	21	,	,	PUNCT
cblr-13858	616	22	with	with	ADP
cblr-13858	616	23	no	no	DET
cblr-13858	616	24	additional	additional	ADJ
cblr-13858	616	25	analysis	analysis	NOUN
cblr-13858	616	26	required	require	VERB
cblr-13858	616	27	.	.	PUNCT
cblr-13858	616	28	',o	',o	PUNCT
cblr-13858	617	1	even	even	ADV
cblr-13858	617	2	if	if	SCONJ
cblr-13858	617	3	crowdfunding	crowdfunde	VERB
cblr-13858	617	4	investors	investor	NOUN
cblr-13858	617	5	are	be	AUX
cblr-13858	617	6	offered	offer	VERB
cblr-13858	617	7	some	some	DET
cblr-13858	617	8	participation	participation	NOUN
cblr-13858	617	9	in	in	ADP
cblr-13858	617	10	the	the	DET
cblr-13858	617	11	return	return	NOUN
cblr-13858	617	12	of	of	ADP
cblr-13858	617	13	the	the	DET
cblr-13858	617	14	business	business	NOUN
cblr-13858	617	15	that	that	PRON
cblr-13858	617	16	does	do	AUX
cblr-13858	617	17	not	not	PART
cblr-13858	617	18	involve	involve	VERB
cblr-13858	617	19	corporate	corporate	ADJ
cblr-13858	617	20	stock	stock	NOUN
cblr-13858	617	21	,	,	PUNCT
cblr-13858	617	22	their	their	PRON
cblr-13858	617	23	investments	investment	NOUN
cblr-13858	617	24	would	would	AUX
cblr-13858	617	25	still	still	ADV
cblr-13858	617	26	be	be	AUX
cblr-13858	617	27	securities	security	NOUN
cblr-13858	617	28	.	.	PUNCT
cblr-13858	618	1	interests	interest	NOUN
cblr-13858	618	2	in	in	ADP
cblr-13858	618	3	partnerships	partnership	NOUN
cblr-13858	618	4	and	and	CCONJ
cblr-13858	618	5	limited	limited	ADJ
cblr-13858	618	6	liability	liability	NOUN
cblr-13858	618	7	companies	company	NOUN
cblr-13858	618	8	,	,	PUNCT
cblr-13858	618	9	and	and	CCONJ
cblr-13858	618	10	other	other	ADJ
cblr-13858	618	11	nonstock	nonstock	PROPN
cblr-13858	618	12	equity	equity	NOUN
cblr-13858	618	13	interests	interest	NOUN
cblr-13858	618	14	,	,	PUNCT
cblr-13858	618	15	are	be	AUX
cblr-13858	618	16	analyzed	analyze	VERB
cblr-13858	618	17	under	under	ADP
cblr-13858	618	18	the	the	DET
cblr-13858	618	19	howey	howey	PROPN
cblr-13858	618	20	investment	investment	PROPN
cblr-13858	618	21	contract	contract	NOUN
cblr-13858	618	22	test.1	test.1	NOUN
cblr-13858	618	23	'	'	PUNCT
cblr-13858	618	24	the	the	DET
cblr-13858	618	25	interests	interest	NOUN
cblr-13858	618	26	offered	offer	VERB
cblr-13858	618	27	to	to	ADP
cblr-13858	618	28	investors	investor	NOUN
cblr-13858	618	29	on	on	ADP
cblr-13858	618	30	equity	equity	NOUN
cblr-13858	618	31	-	-	PUNCT
cblr-13858	618	32	model	model	NOUN
cblr-13858	618	33	sites	site	NOUN
cblr-13858	618	34	would	would	AUX
cblr-13858	618	35	clearly	clearly	ADV
cblr-13858	618	36	be	be	AUX
cblr-13858	618	37	investment	investment	NOUN
cblr-13858	618	38	contracts	contract	NOUN
cblr-13858	618	39	under	under	ADP
cblr-13858	618	40	howey	howey	PRON
cblr-13858	618	41	.	.	PUNCT
cblr-13858	619	1	crowdfunding	crowdfunde	VERB
cblr-13858	619	2	almost	almost	ADV
cblr-13858	619	3	by	by	ADP
cblr-13858	619	4	definition	definition	NOUN
cblr-13858	619	5	involves	involve	VERB
cblr-13858	619	6	a	a	DET
cblr-13858	619	7	common	common	ADJ
cblr-13858	619	8	enterprise	enterprise	NOUN
cblr-13858	619	9	among	among	ADP
cblr-13858	619	10	many	many	ADJ
cblr-13858	619	11	different	different	ADJ
cblr-13858	619	12	investors	investor	NOUN
cblr-13858	619	13	.	.	PUNCT
cblr-13858	620	1	the	the	DET
cblr-13858	620	2	whole	whole	ADJ
cblr-13858	620	3	point	point	NOUN
cblr-13858	620	4	of	of	ADP
cblr-13858	620	5	crowdfunding	crowdfunding	NOUN
cblr-13858	620	6	is	be	AUX
cblr-13858	620	7	to	to	PART
cblr-13858	620	8	collect	collect	VERB
cblr-13858	620	9	small	small	ADJ
cblr-13858	620	10	amounts	amount	NOUN
cblr-13858	620	11	of	of	ADP
cblr-13858	620	12	money	money	NOUN
cblr-13858	620	13	from	from	ADP
cblr-13858	620	14	a	a	DET
cblr-13858	620	15	number	number	NOUN
cblr-13858	620	16	of	of	ADP
cblr-13858	620	17	different	different	ADJ
cblr-13858	620	18	investors	investor	NOUN
cblr-13858	620	19	.	.	PUNCT
cblr-13858	621	1	the	the	DET
cblr-13858	621	2	business	business	NOUN
cblr-13858	621	3	pools	pool	VERB
cblr-13858	621	4	these	these	DET
cblr-13858	621	5	investors	investor	NOUN
cblr-13858	621	6	'	'	PART
cblr-13858	621	7	funds	fund	NOUN
cblr-13858	621	8	,	,	PUNCT
cblr-13858	621	9	and	and	CCONJ
cblr-13858	621	10	the	the	DET
cblr-13858	621	11	investors	investor	NOUN
cblr-13858	621	12	share	share	VERB
cblr-13858	621	13	in	in	ADP
cblr-13858	621	14	the	the	DET
cblr-13858	621	15	returns	return	NOUN
cblr-13858	621	16	of	of	ADP
cblr-13858	621	17	the	the	DET
cblr-13858	621	18	business	business	NOUN
cblr-13858	621	19	.	.	PUNCT
cblr-13858	622	1	although	although	SCONJ
cblr-13858	622	2	there	there	PRON
cblr-13858	622	3	is	be	VERB
cblr-13858	622	4	some	some	DET
cblr-13858	622	5	disagreement	disagreement	NOUN
cblr-13858	622	6	among	among	ADP
cblr-13858	622	7	the	the	DET
cblr-13858	622	8	lower	low	ADJ
cblr-13858	622	9	courts	court	NOUN
cblr-13858	622	10	about	about	ADP
cblr-13858	622	11	what	what	PRON
cblr-13858	622	12	exactly	exactly	ADV
cblr-13858	622	13	constitutes	constitute	VERB
cblr-13858	622	14	a	a	DET
cblr-13858	622	15	common	common	ADJ
cblr-13858	622	16	enterprise	enterprise	NOUN
cblr-13858	622	17	,	,	PUNCT
cblr-13858	622	18	all	all	DET
cblr-13858	622	19	courts	court	NOUN
cblr-13858	622	20	agree	agree	VERB
cblr-13858	622	21	that	that	SCONJ
cblr-13858	622	22	horizontal	horizontal	ADJ
cblr-13858	622	23	commonality	commonality	NOUN
cblr-13858	622	24	of	of	ADP
cblr-13858	622	25	this	this	DET
cblr-13858	622	26	sort	sort	NOUN
cblr-13858	622	27	meets	meet	VERB
cblr-13858	622	28	the	the	DET
cblr-13858	622	29	howey	howey	PROPN
cblr-13858	622	30	test	test	NOUN
cblr-13858	622	31	.	.	PUNCT
cblr-13858	623	1	'5	'5	PROPN
cblr-13858	624	1	2	2	NUM
cblr-13858	624	2	investors	investor	NOUN
cblr-13858	624	3	on	on	ADP
cblr-13858	624	4	equity	equity	NOUN
cblr-13858	624	5	-	-	PUNCT
cblr-13858	624	6	model	model	NOUN
cblr-13858	624	7	sites	site	NOUN
cblr-13858	624	8	would	would	AUX
cblr-13858	624	9	also	also	ADV
cblr-13858	624	10	have	have	VERB
cblr-13858	624	11	an	an	DET
cblr-13858	624	12	expectation	expectation	NOUN
cblr-13858	624	13	of	of	ADP
cblr-13858	624	14	profits	profit	NOUN
cblr-13858	624	15	.	.	PUNCT
cblr-13858	625	1	contributors	contributor	NOUN
cblr-13858	625	2	are	be	AUX
cblr-13858	625	3	providing	provide	VERB
cblr-13858	625	4	cash	cash	NOUN
cblr-13858	625	5	in	in	ADP
cblr-13858	625	6	return	return	NOUN
cblr-13858	625	7	for	for	ADP
cblr-13858	625	8	some	some	DET
cblr-13858	625	9	sort	sort	NOUN
cblr-13858	625	10	of	of	ADP
cblr-13858	625	11	revenueor	revenueor	NOUN
cblr-13858	625	12	profit	profit	NOUN
cblr-13858	625	13	-	-	PUNCT
cblr-13858	625	14	sharing	sharing	NOUN
cblr-13858	625	15	.	.	PUNCT
cblr-13858	626	1	'5	'5	PROPN
cblr-13858	627	1	3	3	NUM
cblr-13858	627	2	the	the	DET
cblr-13858	627	3	14	14	NUM
cblr-13858	627	4	securities	security	NOUN
cblr-13858	627	5	act	act	NOUN
cblr-13858	627	6	of	of	ADP
cblr-13858	627	7	1933	1933	NUM
cblr-13858	627	8	§	§	PROPN
cblr-13858	627	9	2(a)(1	2(a)(1	NUM
cblr-13858	627	10	)	)	PUNCT
cblr-13858	627	11	,	,	PUNCT
cblr-13858	627	12	15	15	NUM
cblr-13858	627	13	u.s.c	u.s.c	ADJ
cblr-13858	627	14	.	.	PUNCT
cblr-13858	628	1	§	§	PROPN
cblr-13858	628	2	77b(a)(1	77b(a)(1	NUM
cblr-13858	628	3	)	)	PUNCT
cblr-13858	628	4	.	.	PUNCT
cblr-13858	629	1	..	..	PUNCT
cblr-13858	630	1	o	o	NOUN
cblr-13858	630	2	calling	call	VERB
cblr-13858	630	3	something	something	PRON
cblr-13858	630	4	stock	stock	NOUN
cblr-13858	630	5	is	be	AUX
cblr-13858	630	6	not	not	PART
cblr-13858	630	7	alone	alone	ADJ
cblr-13858	630	8	enough	enough	ADV
cblr-13858	630	9	to	to	PART
cblr-13858	630	10	make	make	VERB
cblr-13858	630	11	it	it	PRON
cblr-13858	630	12	a	a	DET
cblr-13858	630	13	security	security	NOUN
cblr-13858	630	14	.	.	PUNCT
cblr-13858	631	1	united	united	PROPN
cblr-13858	631	2	hous	hous	PROPN
cblr-13858	631	3	.	.	PUNCT
cblr-13858	632	1	found	find	VERB
cblr-13858	632	2	.	.	PUNCT
cblr-13858	633	1	,	,	PUNCT
cblr-13858	633	2	421	421	NUM
cblr-13858	633	3	u.s	u.s	PROPN
cblr-13858	633	4	.	.	PROPN
cblr-13858	633	5	at	at	ADP
cblr-13858	633	6	848	848	NUM
cblr-13858	633	7	.	.	PUNCT
cblr-13858	634	1	however	however	ADV
cblr-13858	634	2	,	,	PUNCT
cblr-13858	634	3	"	"	PUNCT
cblr-13858	634	4	[	[	PUNCT
cblr-13858	634	5	ilinstruments	ilinstrument	NOUN
cblr-13858	634	6	that	that	PRON
cblr-13858	634	7	bear	bear	VERB
cblr-13858	634	8	both	both	CCONJ
cblr-13858	634	9	the	the	DET
cblr-13858	634	10	name	name	NOUN
cblr-13858	634	11	and	and	CCONJ
cblr-13858	634	12	all	all	PRON
cblr-13858	634	13	of	of	ADP
cblr-13858	634	14	the	the	DET
cblr-13858	634	15	usual	usual	ADJ
cblr-13858	634	16	characteristics	characteristic	NOUN
cblr-13858	634	17	of	of	ADP
cblr-13858	634	18	stock	stock	NOUN
cblr-13858	634	19	seem	seem	VERB
cblr-13858	634	20	to	to	ADP
cblr-13858	634	21	us	we	PRON
cblr-13858	634	22	to	to	PART
cblr-13858	634	23	be	be	AUX
cblr-13858	634	24	the	the	DET
cblr-13858	634	25	clearest	clear	ADJ
cblr-13858	634	26	case	case	NOUN
cblr-13858	634	27	for	for	ADP
cblr-13858	634	28	coverage	coverage	NOUN
cblr-13858	634	29	by	by	ADP
cblr-13858	634	30	the	the	DET
cblr-13858	634	31	plain	plain	ADJ
cblr-13858	634	32	language	language	NOUN
cblr-13858	634	33	of	of	ADP
cblr-13858	634	34	the	the	DET
cblr-13858	634	35	definition	definition	NOUN
cblr-13858	634	36	.	.	PUNCT
cblr-13858	634	37	"	"	PUNCT
cblr-13858	635	1	landreth	landreth	PROPN
cblr-13858	635	2	timber	timber	PROPN
cblr-13858	635	3	co.	co.	PROPN
cblr-13858	636	1	v.	v.	ADP
cblr-13858	636	2	landreth	landreth	PROPN
cblr-13858	636	3	,	,	PUNCT
cblr-13858	636	4	471	471	NUM
cblr-13858	636	5	u.s	u.s	PROPN
cblr-13858	636	6	.	.	PROPN
cblr-13858	636	7	681	681	NUM
cblr-13858	636	8	,	,	PUNCT
cblr-13858	636	9	693	693	NUM
cblr-13858	636	10	(	(	PUNCT
cblr-13858	636	11	1985	1985	NUM
cblr-13858	636	12	)	)	PUNCT
cblr-13858	636	13	.	.	PUNCT
cblr-13858	637	1	1	1	X
cblr-13858	637	2	.	.	X
cblr-13858	637	3	see	see	VERB
cblr-13858	637	4	,	,	PUNCT
cblr-13858	637	5	e.g.	e.g.	ADV
cblr-13858	637	6	,	,	PUNCT
cblr-13858	637	7	united	united	PROPN
cblr-13858	637	8	states	states	PROPN
cblr-13858	637	9	v.	v.	ADP
cblr-13858	637	10	leonard	leonard	PROPN
cblr-13858	637	11	,	,	PUNCT
cblr-13858	637	12	529	529	NUM
cblr-13858	637	13	f.3d	f.3d	NUM
cblr-13858	637	14	83	83	NUM
cblr-13858	637	15	(	(	PUNCT
cblr-13858	637	16	2d	2d	NUM
cblr-13858	637	17	cir	cir	NOUN
cblr-13858	637	18	.	.	PROPN
cblr-13858	637	19	2008	2008	NUM
cblr-13858	637	20	)	)	PUNCT
cblr-13858	637	21	(	(	PUNCT
cblr-13858	637	22	llcs	llcs	NOUN
cblr-13858	637	23	)	)	PUNCT
cblr-13858	637	24	;	;	PUNCT
cblr-13858	637	25	williamson	williamson	PROPN
cblr-13858	637	26	v.	v.	ADP
cblr-13858	637	27	tucker	tucker	PROPN
cblr-13858	637	28	,	,	PUNCT
cblr-13858	637	29	645	645	NUM
cblr-13858	637	30	f.2d	f.2d	SYM
cblr-13858	637	31	404	404	NUM
cblr-13858	637	32	(	(	PUNCT
cblr-13858	637	33	5th	5th	ADJ
cblr-13858	637	34	cir	cir	NOUN
cblr-13858	637	35	.	.	PROPN
cblr-13858	637	36	1981	1981	NUM
cblr-13858	637	37	)	)	PUNCT
cblr-13858	637	38	(	(	PUNCT
cblr-13858	637	39	partnerships	partnership	NOUN
cblr-13858	637	40	)	)	PUNCT
cblr-13858	637	41	.	.	PUNCT
cblr-13858	638	1	152	152	NUM
cblr-13858	638	2	see	see	VERB
cblr-13858	638	3	hazen	hazen	PROPN
cblr-13858	638	4	,	,	PUNCT
cblr-13858	638	5	supra	supra	PROPN
cblr-13858	638	6	note	note	PROPN
cblr-13858	638	7	42	42	NUM
cblr-13858	638	8	,	,	PUNCT
cblr-13858	638	9	at	at	ADP
cblr-13858	638	10	98	98	NUM
cblr-13858	638	11	(	(	PUNCT
cblr-13858	638	12	"	"	PUNCT
cblr-13858	638	13	horizontal	horizontal	ADJ
cblr-13858	638	14	commonality	commonality	NOUN
cblr-13858	638	15	clearly	clearly	ADV
cblr-13858	638	16	satisfies	satisfy	VERB
cblr-13858	638	17	the	the	DET
cblr-13858	638	18	howey	howey	PROPN
cblr-13858	638	19	common	common	ADJ
cblr-13858	638	20	enterprise	enterprise	NOUN
cblr-13858	638	21	requirement	requirement	NOUN
cblr-13858	638	22	.	.	PUNCT
cblr-13858	638	23	"	"	PUNCT
cblr-13858	638	24	)	)	PUNCT
cblr-13858	638	25	.	.	PUNCT
cblr-13858	639	1	11	11	NUM
cblr-13858	639	2	even	even	ADV
cblr-13858	639	3	if	if	SCONJ
cblr-13858	639	4	investors	investor	NOUN
cblr-13858	639	5	are	be	AUX
cblr-13858	639	6	offered	offer	VERB
cblr-13858	639	7	a	a	DET
cblr-13858	639	8	fixed	fix	VERB
cblr-13858	639	9	return	return	NOUN
cblr-13858	639	10	,	,	PUNCT
cblr-13858	639	11	rather	rather	ADV
cblr-13858	639	12	than	than	ADP
cblr-13858	639	13	one	one	NUM
cblr-13858	639	14	that	that	PRON
cblr-13858	639	15	depends	depend	VERB
cblr-13858	639	16	on	on	ADP
cblr-13858	639	17	how	how	SCONJ
cblr-13858	639	18	well	well	ADV
cblr-13858	639	19	the	the	DET
cblr-13858	639	20	business	business	NOUN
cblr-13858	639	21	does	do	VERB
cblr-13858	639	22	,	,	PUNCT
cblr-13858	639	23	that	that	PRON
cblr-13858	639	24	would	would	AUX
cblr-13858	639	25	still	still	ADV
cblr-13858	639	26	meet	meet	VERB
cblr-13858	639	27	the	the	DET
cblr-13858	639	28	howey	howey	PROPN
cblr-13858	639	29	33no	33no	PROPN
cblr-13858	639	30	.	.	PUNCT
cblr-13858	640	1	1	1	NUM
cblr-13858	640	2	:	:	SYM
cblr-13858	640	3	1	1	NUM
cblr-13858	640	4	]	]	PUNCT
cblr-13858	640	5	cro0wdfunding	cro0wdfunding	PROPN
cblr-13858	640	6	and	and	CCONJ
cblr-13858	640	7	securities	securities	PROPN
cblr-13858	640	8	la	la	PROPN
cblr-13858	640	9	ws	ws	PROPN
cblr-13858	640	10	columbia	columbia	PROPN
cblr-13858	640	11	business	business	PROPN
cblr-13858	640	12	law	law	PROPN
cblr-13858	640	13	review	review	NOUN
cblr-13858	640	14	"	"	PUNCT
cblr-13858	640	15	public	public	ADJ
cblr-13858	640	16	raise	raise	NOUN
cblr-13858	640	17	"	"	PUNCT
cblr-13858	640	18	type	type	NOUN
cblr-13858	640	19	of	of	ADP
cblr-13858	640	20	funding	funding	NOUN
cblr-13858	640	21	offered	offer	VERB
cblr-13858	640	22	by	by	ADP
cblr-13858	640	23	profounder	profounder	NOUN
cblr-13858	640	24	5	5	NUM
cblr-13858	640	25	4	4	NUM
cblr-13858	640	26	would	would	AUX
cblr-13858	640	27	not	not	PART
cblr-13858	640	28	meet	meet	VERB
cblr-13858	640	29	this	this	DET
cblr-13858	640	30	requirement	requirement	NOUN
cblr-13858	640	31	,	,	PUNCT
cblr-13858	640	32	however	however	ADV
cblr-13858	640	33	.	.	PUNCT
cblr-13858	641	1	public	public	ADJ
cblr-13858	641	2	-	-	PUNCT
cblr-13858	641	3	raise	raise	NOUN
cblr-13858	641	4	investors	investor	NOUN
cblr-13858	641	5	are	be	AUX
cblr-13858	641	6	promised	promise	VERB
cblr-13858	641	7	a	a	DET
cblr-13858	641	8	share	share	NOUN
cblr-13858	641	9	of	of	ADP
cblr-13858	641	10	the	the	DET
cblr-13858	641	11	entrepreneur	entrepreneur	NOUN
cblr-13858	641	12	's	's	PART
cblr-13858	641	13	revenues	revenue	NOUN
cblr-13858	641	14	,	,	PUNCT
cblr-13858	641	15	but	but	CCONJ
cblr-13858	641	16	only	only	ADV
cblr-13858	641	17	until	until	SCONJ
cblr-13858	641	18	their	their	PRON
cblr-13858	641	19	original	original	ADJ
cblr-13858	641	20	contributions	contribution	NOUN
cblr-13858	641	21	are	be	AUX
cblr-13858	641	22	repaid	repay	VERB
cblr-13858	641	23	.	.	PUNCT
cblr-13858	642	1	a	a	DET
cblr-13858	642	2	person	person	NOUN
cblr-13858	642	3	who	who	PRON
cblr-13858	642	4	contributed	contribute	VERB
cblr-13858	642	5	$	$	SYM
cblr-13858	642	6	1,000	1,000	NUM
cblr-13858	642	7	would	would	AUX
cblr-13858	642	8	receive	receive	VERB
cblr-13858	642	9	,	,	PUNCT
cblr-13858	642	10	at	at	ADP
cblr-13858	642	11	most	most	ADJ
cblr-13858	642	12	,	,	PUNCT
cblr-13858	642	13	only	only	ADV
cblr-13858	642	14	$	$	SYM
cblr-13858	642	15	1,000	1,000	NUM
cblr-13858	642	16	back	back	ADV
cblr-13858	642	17	,	,	PUNCT
cblr-13858	642	18	no	no	ADV
cblr-13858	642	19	matter	matter	ADV
cblr-13858	642	20	how	how	SCONJ
cblr-13858	642	21	well	well	ADV
cblr-13858	642	22	the	the	DET
cblr-13858	642	23	business	business	NOUN
cblr-13858	642	24	did	do	VERB
cblr-13858	642	25	.	.	PUNCT
cblr-13858	643	1	since	since	SCONJ
cblr-13858	643	2	no	no	DET
cblr-13858	643	3	profits	profit	NOUN
cblr-13858	643	4	are	be	AUX
cblr-13858	643	5	expected	expect	VERB
cblr-13858	643	6	,	,	PUNCT
cblr-13858	643	7	public	public	ADJ
cblr-13858	643	8	-	-	PUNCT
cblr-13858	643	9	raise	raise	NOUN
cblr-13858	643	10	investments	investment	NOUN
cblr-13858	643	11	would	would	AUX
cblr-13858	643	12	not	not	PART
cblr-13858	643	13	be	be	AUX
cblr-13858	643	14	securities	security	NOUN
cblr-13858	643	15	.	.	PUNCT
cblr-13858	644	1	finally	finally	ADV
cblr-13858	644	2	,	,	PUNCT
cblr-13858	644	3	the	the	DET
cblr-13858	644	4	profits	profit	NOUN
cblr-13858	644	5	expected	expect	VERB
cblr-13858	644	6	are	be	AUX
cblr-13858	644	7	to	to	PART
cblr-13858	644	8	come	come	VERB
cblr-13858	644	9	solely	solely	ADV
cblr-13858	644	10	from	from	ADP
cblr-13858	644	11	the	the	DET
cblr-13858	644	12	efforts	effort	NOUN
cblr-13858	644	13	of	of	ADP
cblr-13858	644	14	the	the	DET
cblr-13858	644	15	promoters	promoter	NOUN
cblr-13858	644	16	or	or	CCONJ
cblr-13858	644	17	other	other	ADJ
cblr-13858	644	18	third	third	ADJ
cblr-13858	644	19	parties	party	NOUN
cblr-13858	644	20	.	.	PUNCT
cblr-13858	645	1	crowdfunding	crowdfunde	VERB
cblr-13858	645	2	investors	investor	NOUN
cblr-13858	645	3	will	will	AUX
cblr-13858	645	4	not	not	PART
cblr-13858	645	5	usually	usually	ADV
cblr-13858	645	6	be	be	AUX
cblr-13858	645	7	involved	involve	VERB
cblr-13858	645	8	in	in	ADP
cblr-13858	645	9	the	the	DET
cblr-13858	645	10	operation	operation	NOUN
cblr-13858	645	11	of	of	ADP
cblr-13858	645	12	the	the	DET
cblr-13858	645	13	business	business	NOUN
cblr-13858	645	14	in	in	ADP
cblr-13858	645	15	which	which	PRON
cblr-13858	645	16	they	they	PRON
cblr-13858	645	17	invest	invest	VERB
cblr-13858	645	18	,	,	PUNCT
cblr-13858	645	19	and	and	CCONJ
cblr-13858	645	20	,	,	PUNCT
cblr-13858	645	21	even	even	ADV
cblr-13858	645	22	if	if	SCONJ
cblr-13858	645	23	the	the	DET
cblr-13858	645	24	crowdfunding	crowdfunding	NOUN
cblr-13858	645	25	site	site	NOUN
cblr-13858	645	26	allows	allow	VERB
cblr-13858	645	27	them	they	PRON
cblr-13858	645	28	some	some	DET
cblr-13858	645	29	minor	minor	ADJ
cblr-13858	645	30	role	role	NOUN
cblr-13858	645	31	,	,	PUNCT
cblr-13858	645	32	the	the	DET
cblr-13858	645	33	"	"	PUNCT
cblr-13858	645	34	essential	essential	ADJ
cblr-13858	645	35	managerial	managerial	ADJ
cblr-13858	645	36	efforts	effort	NOUN
cblr-13858	645	37	which	which	PRON
cblr-13858	645	38	affect	affect	VERB
cblr-13858	645	39	the	the	DET
cblr-13858	645	40	failure	failure	NOUN
cblr-13858	645	41	or	or	CCONJ
cblr-13858	645	42	success	success	NOUN
cblr-13858	645	43	of	of	ADP
cblr-13858	645	44	the	the	DET
cblr-13858	645	45	enterprise	enterprise	NOUN
cblr-13858	645	46	1	1	NUM
cblr-13858	645	47	55	55	NUM
cblr-13858	645	48	will	will	AUX
cblr-13858	645	49	be	be	AUX
cblr-13858	645	50	those	those	PRON
cblr-13858	645	51	of	of	ADP
cblr-13858	645	52	the	the	DET
cblr-13858	645	53	entrepreneur	entrepreneur	NOUN
cblr-13858	645	54	.	.	PUNCT
cblr-13858	646	1	4	4	X
cblr-13858	646	2	.	.	X
cblr-13858	646	3	the	the	DET
cblr-13858	646	4	lending	lending	NOUN
cblr-13858	646	5	model	model	NOUN
cblr-13858	646	6	the	the	DET
cblr-13858	646	7	analysis	analysis	NOUN
cblr-13858	646	8	is	be	AUX
cblr-13858	646	9	most	most	ADV
cblr-13858	646	10	complicated	complicated	ADJ
cblr-13858	646	11	for	for	ADP
cblr-13858	646	12	lending	lending	NOUN
cblr-13858	646	13	-	-	PUNCT
cblr-13858	646	14	model	model	NOUN
cblr-13858	646	15	crowdfunding	crowdfunding	NOUN
cblr-13858	646	16	.	.	PUNCT
cblr-13858	647	1	66	66	NUM
cblr-13858	648	1	the	the	DET
cblr-13858	648	2	federal	federal	ADJ
cblr-13858	648	3	securities	security	NOUN
cblr-13858	648	4	laws	law	NOUN
cblr-13858	648	5	are	be	AUX
cblr-13858	648	6	not	not	PART
cblr-13858	648	7	limited	limit	VERB
cblr-13858	648	8	to	to	ADP
cblr-13858	648	9	equity	equity	NOUN
cblr-13858	648	10	interests	interest	NOUN
cblr-13858	648	11	in	in	ADP
cblr-13858	648	12	businesses	business	NOUN
cblr-13858	648	13	.	.	PUNCT
cblr-13858	649	1	the	the	DET
cblr-13858	649	2	definition	definition	NOUN
cblr-13858	649	3	of	of	ADP
cblr-13858	649	4	security	security	NOUN
cblr-13858	649	5	encompasses	encompass	VERB
cblr-13858	649	6	some	some	DET
cblr-13858	649	7	forms	form	NOUN
cblr-13858	649	8	of	of	ADP
cblr-13858	649	9	debt	debt	NOUN
cblr-13858	649	10	,	,	PUNCT
cblr-13858	649	11	"	"	PUNCT
cblr-13858	649	12	'	'	PUNCT
cblr-13858	649	13	and	and	CCONJ
cblr-13858	649	14	an	an	DET
cblr-13858	649	15	investment	investment	NOUN
cblr-13858	649	16	may	may	AUX
cblr-13858	649	17	be	be	AUX
cblr-13858	649	18	a	a	DET
cblr-13858	649	19	security	security	NOUN
cblr-13858	649	20	even	even	ADV
cblr-13858	649	21	though	though	SCONJ
cblr-13858	649	22	the	the	DET
cblr-13858	649	23	return	return	NOUN
cblr-13858	649	24	consists	consist	VERB
cblr-13858	649	25	of	of	ADP
cblr-13858	649	26	a	a	DET
cblr-13858	649	27	fixed	fix	VERB
cblr-13858	649	28	requirement	requirement	NOUN
cblr-13858	649	29	of	of	ADP
cblr-13858	649	30	an	an	DET
cblr-13858	649	31	expectation	expectation	NOUN
cblr-13858	649	32	of	of	ADP
cblr-13858	649	33	profits	profit	NOUN
cblr-13858	649	34	.	.	PUNCT
cblr-13858	650	1	see	see	VERB
cblr-13858	650	2	sec	sec	PROPN
cblr-13858	650	3	v.	v.	PROPN
cblr-13858	650	4	edwards	edwards	PROPN
cblr-13858	650	5	,	,	PUNCT
cblr-13858	650	6	540	540	NUM
cblr-13858	650	7	u.s	u.s	PROPN
cblr-13858	650	8	.	.	PROPN
cblr-13858	650	9	389	389	NUM
cblr-13858	650	10	(	(	PUNCT
cblr-13858	650	11	2004	2004	NUM
cblr-13858	650	12	)	)	PUNCT
cblr-13858	650	13	(	(	PUNCT
cblr-13858	650	14	holding	hold	VERB
cblr-13858	650	15	that	that	SCONJ
cblr-13858	650	16	an	an	DET
cblr-13858	650	17	agreement	agreement	NOUN
cblr-13858	650	18	to	to	PART
cblr-13858	650	19	pay	pay	VERB
cblr-13858	650	20	investors	investor	NOUN
cblr-13858	650	21	$	$	SYM
cblr-13858	650	22	82	82	NUM
cblr-13858	650	23	a	a	DET
cblr-13858	650	24	month	month	NOUN
cblr-13858	650	25	constituted	constitute	VERB
cblr-13858	650	26	a	a	DET
cblr-13858	650	27	security	security	NOUN
cblr-13858	650	28	)	)	PUNCT
cblr-13858	650	29	.	.	PUNCT
cblr-13858	651	1	1	1	NUM
cblr-13858	651	2	see	see	VERB
cblr-13858	651	3	supra	supra	ADJ
cblr-13858	651	4	text	text	NOUN
cblr-13858	651	5	accompanying	accompanying	ADJ
cblr-13858	651	6	notes	note	VERB
cblr-13858	651	7	107	107	NUM
cblr-13858	651	8	-	-	SYM
cblr-13858	651	9	09	09	NUM
cblr-13858	651	10	.	.	PUNCT
cblr-13858	651	11	...	...	PUNCT
cblr-13858	652	1	sec	sec	PROPN
cblr-13858	652	2	v.	v.	PROPN
cblr-13858	652	3	glenn	glenn	PROPN
cblr-13858	652	4	w.	w.	PROPN
cblr-13858	652	5	turner	turner	PROPN
cblr-13858	652	6	enters	enter	VERB
cblr-13858	652	7	.	.	PUNCT
cblr-13858	652	8	,	,	PUNCT
cblr-13858	652	9	inc	inc	PROPN
cblr-13858	652	10	.	.	PROPN
cblr-13858	652	11	,	,	PUNCT
cblr-13858	652	12	474	474	NUM
cblr-13858	652	13	f.2d	f.2d	ADP
cblr-13858	652	14	476	476	NUM
cblr-13858	652	15	,	,	PUNCT
cblr-13858	652	16	482	482	NUM
cblr-13858	652	17	(	(	PUNCT
cblr-13858	652	18	9th	9th	ADJ
cblr-13858	652	19	cir	cir	NOUN
cblr-13858	652	20	.	.	PROPN
cblr-13858	652	21	1973	1973	NUM
cblr-13858	652	22	)	)	PUNCT
cblr-13858	652	23	.	.	PUNCT
cblr-13858	653	1	156	156	NUM
cblr-13858	653	2	many	many	ADJ
cblr-13858	653	3	lending	lending	NOUN
cblr-13858	653	4	sites	site	NOUN
cblr-13858	653	5	offer	offer	VERB
cblr-13858	653	6	consumer	consumer	NOUN
cblr-13858	653	7	loans	loan	NOUN
cblr-13858	653	8	,	,	PUNCT
cblr-13858	653	9	and	and	CCONJ
cblr-13858	653	10	not	not	PART
cblr-13858	653	11	just	just	ADV
cblr-13858	653	12	loans	loan	NOUN
cblr-13858	653	13	to	to	ADP
cblr-13858	653	14	business	business	NOUN
cblr-13858	653	15	entrepreneurs	entrepreneur	NOUN
cblr-13858	653	16	.	.	PUNCT
cblr-13858	654	1	the	the	DET
cblr-13858	654	2	following	follow	VERB
cblr-13858	654	3	discussion	discussion	NOUN
cblr-13858	654	4	is	be	AUX
cblr-13858	654	5	limited	limit	VERB
cblr-13858	654	6	to	to	ADP
cblr-13858	654	7	loans	loan	NOUN
cblr-13858	654	8	to	to	ADP
cblr-13858	654	9	businesses	business	NOUN
cblr-13858	654	10	and	and	CCONJ
cblr-13858	654	11	business	business	NOUN
cblr-13858	654	12	projects	project	NOUN
cblr-13858	654	13	.	.	PUNCT
cblr-13858	655	1	loans	loan	NOUN
cblr-13858	655	2	for	for	ADP
cblr-13858	655	3	consumer	consumer	NOUN
cblr-13858	655	4	purposes	purpose	NOUN
cblr-13858	655	5	are	be	AUX
cblr-13858	655	6	less	less	ADV
cblr-13858	655	7	likely	likely	ADJ
cblr-13858	655	8	to	to	PART
cblr-13858	655	9	be	be	AUX
cblr-13858	655	10	treated	treat	VERB
cblr-13858	655	11	as	as	ADP
cblr-13858	655	12	securities	security	NOUN
cblr-13858	655	13	.	.	PUNCT
cblr-13858	656	1	see	see	VERB
cblr-13858	656	2	verstein	verstein	NOUN
cblr-13858	656	3	,	,	PUNCT
cblr-13858	656	4	supra	supra	PROPN
cblr-13858	656	5	note	note	NOUN
cblr-13858	656	6	12	12	NUM
cblr-13858	656	7	(	(	PUNCT
cblr-13858	656	8	arguing	argue	VERB
cblr-13858	656	9	that	that	SCONJ
cblr-13858	656	10	consumer	consumer	NOUN
cblr-13858	656	11	notes	note	NOUN
cblr-13858	656	12	would	would	AUX
cblr-13858	656	13	not	not	PART
cblr-13858	656	14	be	be	AUX
cblr-13858	656	15	securities	security	NOUN
cblr-13858	656	16	under	under	ADP
cblr-13858	656	17	either	either	CCONJ
cblr-13858	656	18	the	the	DET
cblr-13858	656	19	howey	howey	PROPN
cblr-13858	656	20	or	or	CCONJ
cblr-13858	656	21	reves	ref	NOUN
cblr-13858	656	22	tests	test	NOUN
cblr-13858	656	23	)	)	PUNCT
cblr-13858	656	24	.	.	PUNCT
cblr-13858	657	1	for	for	ADP
cblr-13858	657	2	a	a	DET
cblr-13858	657	3	general	general	ADJ
cblr-13858	657	4	introduction	introduction	NOUN
cblr-13858	657	5	to	to	ADP
cblr-13858	657	6	peer	peer	NOUN
cblr-13858	657	7	-	-	PUNCT
cblr-13858	657	8	to	to	ADP
cblr-13858	657	9	-	-	PUNCT
cblr-13858	657	10	peer	peer	NOUN
cblr-13858	657	11	lending	lending	NOUN
cblr-13858	657	12	,	,	PUNCT
cblr-13858	657	13	see	see	VERB
cblr-13858	657	14	kevin	kevin	PROPN
cblr-13858	657	15	e.	e.	PROPN
cblr-13858	657	16	davis	davis	PROPN
cblr-13858	657	17	&	&	CCONJ
cblr-13858	657	18	anna	anna	PROPN
cblr-13858	657	19	gelpern	gelpern	PROPN
cblr-13858	657	20	,	,	PUNCT
cblr-13858	657	21	peer	peer	NOUN
cblr-13858	657	22	-	-	PUNCT
cblr-13858	657	23	to	to	ADP
cblr-13858	657	24	-	-	PUNCT
cblr-13858	657	25	peer	peer	NOUN
cblr-13858	657	26	financing	financing	NOUN
cblr-13858	657	27	for	for	ADP
cblr-13858	657	28	development	development	NOUN
cblr-13858	657	29	:	:	PUNCT
cblr-13858	657	30	regulating	regulate	VERB
cblr-13858	657	31	the	the	DET
cblr-13858	657	32	intermediaries	intermediary	NOUN
cblr-13858	657	33	,	,	PUNCT
cblr-13858	657	34	42	42	NUM
cblr-13858	657	35	n.y.u	n.y.u	NOUN
cblr-13858	657	36	.	.	PUNCT
cblr-13858	658	1	j.	j.	PROPN
cblr-13858	658	2	int'l	int'l	PROPN
cblr-13858	658	3	l.	l.	PROPN
cblr-13858	658	4	&	&	CCONJ
cblr-13858	658	5	pol	pol	PROPN
cblr-13858	658	6	.	.	PUNCT
cblr-13858	659	1	1209	1209	NUM
cblr-13858	659	2	(	(	PUNCT
cblr-13858	659	3	2010	2010	NUM
cblr-13858	659	4	)	)	PUNCT
cblr-13858	659	5	;	;	PUNCT
cblr-13858	659	6	verstein	verstein	NOUN
cblr-13858	659	7	,	,	PUNCT
cblr-13858	659	8	supra	supra	PROPN
cblr-13858	659	9	note	note	NOUN
cblr-13858	659	10	12	12	NUM
cblr-13858	659	11	.	.	PUNCT
cblr-13858	659	12	...	...	PUNCT
cblr-13858	660	1	the	the	DET
cblr-13858	660	2	definition	definition	NOUN
cblr-13858	660	3	of	of	ADP
cblr-13858	660	4	a	a	DET
cblr-13858	660	5	security	security	NOUN
cblr-13858	660	6	includes	include	VERB
cblr-13858	660	7	,	,	PUNCT
cblr-13858	660	8	among	among	ADP
cblr-13858	660	9	other	other	ADJ
cblr-13858	660	10	things	thing	NOUN
cblr-13858	660	11	,	,	PUNCT
cblr-13858	660	12	"	"	PUNCT
cblr-13858	660	13	notes	note	NOUN
cblr-13858	660	14	,	,	PUNCT
cblr-13858	660	15	"	"	PUNCT
cblr-13858	660	16	"	"	PUNCT
cblr-13858	660	17	bonds	bond	NOUN
cblr-13858	660	18	,	,	PUNCT
cblr-13858	660	19	"	"	PUNCT
cblr-13858	660	20	"	"	PUNCT
cblr-13858	660	21	debentures	debenture	NOUN
cblr-13858	660	22	,	,	PUNCT
cblr-13858	660	23	"	"	PUNCT
cblr-13858	660	24	and	and	CCONJ
cblr-13858	660	25	"	"	PUNCT
cblr-13858	660	26	evidence	evidence	NOUN
cblr-13858	660	27	of	of	ADP
cblr-13858	660	28	indebtedness	indebtedness	NOUN
cblr-13858	660	29	.	.	PUNCT
cblr-13858	660	30	"	"	PUNCT
cblr-13858	661	1	see	see	VERB
cblr-13858	661	2	securities	security	NOUN
cblr-13858	661	3	act	act	NOUN
cblr-13858	661	4	of	of	ADP
cblr-13858	661	5	1933	1933	NUM
cblr-13858	661	6	§	§	PROPN
cblr-13858	661	7	2(a)(1	2(a)(1	NUM
cblr-13858	661	8	)	)	PUNCT
cblr-13858	661	9	,	,	PUNCT
cblr-13858	661	10	15	15	NUM
cblr-13858	661	11	u.s.c	u.s.c	ADJ
cblr-13858	661	12	.	.	PUNCT
cblr-13858	662	1	§	§	PROPN
cblr-13858	662	2	77b(a)(1	77b(a)(1	NUM
cblr-13858	662	3	)	)	PUNCT
cblr-13858	662	4	(	(	PUNCT
cblr-13858	662	5	2010	2010	NUM
cblr-13858	662	6	)	)	PUNCT
cblr-13858	662	7	.	.	PUNCT
cblr-13858	663	1	34	34	NUM
cblr-13858	664	1	[	[	X
cblr-13858	664	2	vol	vol	NOUN
cblr-13858	664	3	.	.	NOUN
cblr-13858	664	4	2012	2012	NUM
cblr-13858	664	5	payment	payment	NOUN
cblr-13858	664	6	or	or	CCONJ
cblr-13858	664	7	a	a	DET
cblr-13858	664	8	fixed	fix	VERB
cblr-13858	664	9	rate	rate	NOUN
cblr-13858	664	10	of	of	ADP
cblr-13858	664	11	interest	interest	NOUN
cblr-13858	664	12	.	.	PUNCT
cblr-13858	665	1	58	58	NUM
cblr-13858	666	1	howey	howey	PROPN
cblr-13858	666	2	is	be	AUX
cblr-13858	666	3	still	still	ADV
cblr-13858	666	4	relevant	relevant	ADJ
cblr-13858	666	5	but	but	CCONJ
cblr-13858	666	6	,	,	PUNCT
cblr-13858	666	7	if	if	SCONJ
cblr-13858	666	8	investors	investor	NOUN
cblr-13858	666	9	are	be	AUX
cblr-13858	666	10	offered	offer	VERB
cblr-13858	666	11	notes	note	NOUN
cblr-13858	666	12	,	,	PUNCT
cblr-13858	666	13	the	the	DET
cblr-13858	666	14	supreme	supreme	PROPN
cblr-13858	666	15	court	court	PROPN
cblr-13858	666	16	's	's	PART
cblr-13858	666	17	analysis	analysis	NOUN
cblr-13858	666	18	in	in	ADP
cblr-13858	666	19	reves	ref	NOUN
cblr-13858	666	20	v.	v.	ADP
cblr-13858	666	21	ernst	ernst	PROPN
cblr-13858	666	22	&	&	CCONJ
cblr-13858	666	23	young	young	PROPN
cblr-13858	666	24	,	,	PUNCT
cblr-13858	666	25	discussed	discuss	VERB
cblr-13858	666	26	below	below	ADV
cblr-13858	666	27	,	,	PUNCT
cblr-13858	666	28	must	must	AUX
cblr-13858	666	29	also	also	ADV
cblr-13858	666	30	be	be	AUX
cblr-13858	666	31	considered	consider	VERB
cblr-13858	666	32	.	.	PUNCT
cblr-13858	667	1	under	under	ADP
cblr-13858	667	2	that	that	DET
cblr-13858	667	3	analysis	analysis	NOUN
cblr-13858	667	4	,	,	PUNCT
cblr-13858	667	5	sites	site	NOUN
cblr-13858	667	6	like	like	ADP
cblr-13858	667	7	kiva	kiva	PROPN
cblr-13858	667	8	that	that	PRON
cblr-13858	667	9	offer	offer	VERB
cblr-13858	667	10	investors	investor	NOUN
cblr-13858	667	11	no	no	DET
cblr-13858	667	12	interest	interest	NOUN
cblr-13858	667	13	or	or	CCONJ
cblr-13858	667	14	other	other	ADJ
cblr-13858	667	15	return	return	NOUN
cblr-13858	667	16	,	,	PUNCT
cblr-13858	667	17	only	only	ADV
cblr-13858	667	18	a	a	DET
cblr-13858	667	19	return	return	NOUN
cblr-13858	667	20	of	of	ADP
cblr-13858	667	21	their	their	PRON
cblr-13858	667	22	principal	principal	NOUN
cblr-13858	667	23	,	,	PUNCT
cblr-13858	667	24	are	be	AUX
cblr-13858	667	25	probably	probably	ADV
cblr-13858	667	26	not	not	PART
cblr-13858	667	27	offering	offer	VERB
cblr-13858	667	28	securities	security	NOUN
cblr-13858	667	29	,	,	PUNCT
cblr-13858	667	30	but	but	CCONJ
cblr-13858	667	31	,	,	PUNCT
cblr-13858	667	32	if	if	SCONJ
cblr-13858	667	33	investors	investor	NOUN
cblr-13858	667	34	are	be	AUX
cblr-13858	667	35	promised	promise	VERB
cblr-13858	667	36	interest	interest	NOUN
cblr-13858	667	37	,	,	PUNCT
cblr-13858	667	38	their	their	PRON
cblr-13858	667	39	investments	investment	NOUN
cblr-13858	667	40	probably	probably	ADV
cblr-13858	667	41	are	be	AUX
cblr-13858	667	42	securities	security	NOUN
cblr-13858	667	43	.	.	PUNCT
cblr-13858	668	1	consider	consider	VERB
cblr-13858	668	2	first	first	ADV
cblr-13858	668	3	whether	whether	SCONJ
cblr-13858	668	4	crowdfunding	crowdfunde	VERB
cblr-13858	668	5	sites	site	NOUN
cblr-13858	668	6	offering	offer	VERB
cblr-13858	668	7	interest	interest	NOUN
cblr-13858	668	8	are	be	AUX
cblr-13858	668	9	selling	sell	VERB
cblr-13858	668	10	investment	investment	NOUN
cblr-13858	668	11	contracts	contract	NOUN
cblr-13858	668	12	.	.	PUNCT
cblr-13858	669	1	contributors	contributor	NOUN
cblr-13858	669	2	are	be	AUX
cblr-13858	669	3	investing	invest	VERB
cblr-13858	669	4	money	money	NOUN
cblr-13858	669	5	with	with	ADP
cblr-13858	669	6	an	an	DET
cblr-13858	669	7	expectation	expectation	NOUN
cblr-13858	669	8	of	of	ADP
cblr-13858	669	9	profits	profit	NOUN
cblr-13858	669	10	.	.	PUNCT
cblr-13858	670	1	a	a	DET
cblr-13858	670	2	fixed	fix	VERB
cblr-13858	670	3	rate	rate	NOUN
cblr-13858	670	4	of	of	ADP
cblr-13858	670	5	interest	interest	NOUN
cblr-13858	670	6	,	,	PUNCT
cblr-13858	670	7	such	such	ADJ
cblr-13858	670	8	as	as	ADP
cblr-13858	670	9	that	that	PRON
cblr-13858	670	10	which	which	PRON
cblr-13858	670	11	is	be	AUX
cblr-13858	670	12	offered	offer	VERB
cblr-13858	670	13	on	on	ADP
cblr-13858	670	14	the	the	DET
cblr-13858	670	15	lending	lending	NOUN
cblr-13858	670	16	club	club	NOUN
cblr-13858	670	17	and	and	CCONJ
cblr-13858	670	18	prosper	prosper	NOUN
cblr-13858	670	19	sites	site	NOUN
cblr-13858	670	20	,	,	PUNCT
cblr-13858	670	21	would	would	AUX
cblr-13858	670	22	be	be	AUX
cblr-13858	670	23	"	"	PUNCT
cblr-13858	670	24	profit	profit	NOUN
cblr-13858	670	25	"	"	PUNCT
cblr-13858	670	26	for	for	ADP
cblr-13858	670	27	purposes	purpose	NOUN
cblr-13858	670	28	of	of	ADP
cblr-13858	670	29	howey	howey	PRON
cblr-13858	670	30	.	.	PUNCT
cblr-13858	670	31	"	"	PUNCT
cblr-13858	671	1	if	if	SCONJ
cblr-13858	671	2	more	more	ADJ
cblr-13858	671	3	than	than	ADP
cblr-13858	671	4	one	one	NUM
cblr-13858	671	5	lender	lender	NOUN
cblr-13858	671	6	contributes	contribute	VERB
cblr-13858	671	7	to	to	ADP
cblr-13858	671	8	each	each	DET
cblr-13858	671	9	business	business	NOUN
cblr-13858	671	10	,	,	PUNCT
cblr-13858	671	11	there	there	PRON
cblr-13858	671	12	is	be	VERB
cblr-13858	671	13	a	a	DET
cblr-13858	671	14	horizontal	horizontal	ADJ
cblr-13858	671	15	common	common	ADJ
cblr-13858	671	16	enterprise	enterprise	NOUN
cblr-13858	671	17	.	.	PUNCT
cblr-13858	672	1	and	and	CCONJ
cblr-13858	672	2	the	the	DET
cblr-13858	672	3	profits	profit	NOUN
cblr-13858	672	4	are	be	AUX
cblr-13858	672	5	going	go	VERB
cblr-13858	672	6	to	to	PART
cblr-13858	672	7	result	result	VERB
cblr-13858	672	8	solely	solely	ADV
cblr-13858	672	9	,	,	PUNCT
cblr-13858	672	10	or	or	CCONJ
cblr-13858	672	11	at	at	ADP
cblr-13858	672	12	least	least	ADJ
cblr-13858	672	13	primarily	primarily	ADV
cblr-13858	672	14	,	,	PUNCT
cblr-13858	672	15	from	from	ADP
cblr-13858	672	16	the	the	DET
cblr-13858	672	17	efforts	effort	NOUN
cblr-13858	672	18	of	of	ADP
cblr-13858	672	19	the	the	DET
cblr-13858	672	20	entrepreneur	entrepreneur	NOUN
cblr-13858	672	21	.	.	PUNCT
cblr-13858	673	1	thus	thus	ADV
cblr-13858	673	2	,	,	PUNCT
cblr-13858	673	3	investments	investment	NOUN
cblr-13858	673	4	made	make	VERB
cblr-13858	673	5	on	on	ADP
cblr-13858	673	6	lending	lending	NOUN
cblr-13858	673	7	sites	site	NOUN
cblr-13858	673	8	that	that	PRON
cblr-13858	673	9	offer	offer	VERB
cblr-13858	673	10	investors	investor	NOUN
cblr-13858	673	11	interest	interest	NOUN
cblr-13858	673	12	would	would	AUX
cblr-13858	673	13	be	be	AUX
cblr-13858	673	14	investment	investment	NOUN
cblr-13858	673	15	contracts	contract	NOUN
cblr-13858	673	16	under	under	ADP
cblr-13858	673	17	the	the	DET
cblr-13858	673	18	howey	howey	PROPN
cblr-13858	673	19	test	test	NOUN
cblr-13858	673	20	.	.	PUNCT
cblr-13858	674	1	however	however	ADV
cblr-13858	674	2	,	,	PUNCT
cblr-13858	674	3	if	if	SCONJ
cblr-13858	674	4	the	the	DET
cblr-13858	674	5	site	site	NOUN
cblr-13858	674	6	,	,	PUNCT
cblr-13858	674	7	like	like	ADP
cblr-13858	674	8	kiva	kiva	PROPN
cblr-13858	674	9	,	,	PUNCT
cblr-13858	674	10	offers	offer	VERB
cblr-13858	674	11	investors	investor	NOUN
cblr-13858	674	12	only	only	ADV
cblr-13858	674	13	a	a	DET
cblr-13858	674	14	return	return	NOUN
cblr-13858	674	15	of	of	ADP
cblr-13858	674	16	their	their	PRON
cblr-13858	674	17	principal	principal	NOUN
cblr-13858	674	18	,	,	PUNCT
cblr-13858	674	19	without	without	ADP
cblr-13858	674	20	any	any	DET
cblr-13858	674	21	interest	interest	NOUN
cblr-13858	674	22	or	or	CCONJ
cblr-13858	674	23	other	other	ADJ
cblr-13858	674	24	gain	gain	NOUN
cblr-13858	674	25	,	,	PUNCT
cblr-13858	674	26	investors	investor	NOUN
cblr-13858	674	27	would	would	AUX
cblr-13858	674	28	have	have	VERB
cblr-13858	674	29	no	no	DET
cblr-13858	674	30	expectation	expectation	NOUN
cblr-13858	674	31	of	of	ADP
cblr-13858	674	32	profits	profit	NOUN
cblr-13858	674	33	.	.	PUNCT
cblr-13858	675	1	160	160	NUM
cblr-13858	675	2	consequently	consequently	ADV
cblr-13858	675	3	,	,	PUNCT
cblr-13858	675	4	the	the	DET
cblr-13858	675	5	investment	investment	NOUN
cblr-13858	675	6	contract	contract	NOUN
cblr-13858	675	7	test	test	NOUN
cblr-13858	675	8	would	would	AUX
cblr-13858	675	9	not	not	PART
cblr-13858	675	10	be	be	AUX
cblr-13858	675	11	met.16	met.16	PROPN
cblr-13858	675	12	1	1	NUM
cblr-13858	675	13	15	15	NUM
cblr-13858	675	14	edwards	edward	NOUN
cblr-13858	675	15	,	,	PUNCT
cblr-13858	675	16	540	540	NUM
cblr-13858	675	17	u.s	u.s	PROPN
cblr-13858	675	18	.	.	PROPN
cblr-13858	676	1	at	at	ADP
cblr-13858	676	2	397	397	NUM
cblr-13858	676	3	(	(	PUNCT
cblr-13858	676	4	holding	hold	VERB
cblr-13858	676	5	that	that	SCONJ
cblr-13858	676	6	an	an	DET
cblr-13858	676	7	investment	investment	NOUN
cblr-13858	676	8	offering	offer	VERB
cblr-13858	676	9	a	a	DET
cblr-13858	676	10	fixed	fix	VERB
cblr-13858	676	11	return	return	NOUN
cblr-13858	676	12	of	of	ADP
cblr-13858	676	13	$	$	SYM
cblr-13858	676	14	82	82	NUM
cblr-13858	676	15	a	a	DET
cblr-13858	676	16	month	month	NOUN
cblr-13858	676	17	was	be	AUX
cblr-13858	676	18	an	an	DET
cblr-13858	676	19	investment	investment	NOUN
cblr-13858	676	20	contract	contract	NOUN
cblr-13858	676	21	)	)	PUNCT
cblr-13858	676	22	.	.	PUNCT
cblr-13858	677	1	159	159	NUM
cblr-13858	678	1	i	i	PRON
cblr-13858	678	2	d.	d.	PROPN
cblr-13858	678	3	160	160	NUM
cblr-13858	678	4	see	see	VERB
cblr-13858	678	5	verstein	verstein	NOUN
cblr-13858	678	6	,	,	PUNCT
cblr-13858	678	7	supra	supra	PROPN
cblr-13858	678	8	note	note	NOUN
cblr-13858	678	9	12	12	NUM
cblr-13858	678	10	(	(	PUNCT
cblr-13858	678	11	setting	set	VERB
cblr-13858	678	12	forth	forth	ADP
cblr-13858	678	13	a	a	DET
cblr-13858	678	14	similar	similar	ADJ
cblr-13858	678	15	analysis	analysis	NOUN
cblr-13858	678	16	)	)	PUNCT
cblr-13858	678	17	.	.	PUNCT
cblr-13858	679	1	this	this	PRON
cblr-13858	679	2	is	be	AUX
cblr-13858	679	3	why	why	SCONJ
cblr-13858	679	4	kiva	kiva	PROPN
cblr-13858	679	5	does	do	AUX
cblr-13858	679	6	not	not	PART
cblr-13858	679	7	offer	offer	VERB
cblr-13858	679	8	interest	interest	NOUN
cblr-13858	679	9	to	to	ADP
cblr-13858	679	10	investors	investor	NOUN
cblr-13858	679	11	.	.	PUNCT
cblr-13858	680	1	according	accord	VERB
cblr-13858	680	2	to	to	ADP
cblr-13858	680	3	matt	matt	PROPN
cblr-13858	680	4	flannery	flannery	PROPN
cblr-13858	680	5	,	,	PUNCT
cblr-13858	680	6	a	a	DET
cblr-13858	680	7	co	co	NOUN
cblr-13858	680	8	-	-	NOUN
cblr-13858	680	9	founder	founder	NOUN
cblr-13858	680	10	of	of	ADP
cblr-13858	680	11	kiva	kiva	PROPN
cblr-13858	680	12	,	,	PUNCT
cblr-13858	680	13	kiva	kiva	PROPN
cblr-13858	680	14	would	would	AUX
cblr-13858	680	15	like	like	VERB
cblr-13858	680	16	to	to	PART
cblr-13858	680	17	offer	offer	VERB
cblr-13858	680	18	investors	investor	NOUN
cblr-13858	680	19	interest	interest	NOUN
cblr-13858	680	20	.	.	PUNCT
cblr-13858	681	1	matt	matt	PROPN
cblr-13858	681	2	flannery	flannery	PROPN
cblr-13858	681	3	,	,	PUNCT
cblr-13858	681	4	kiva	kiva	PROPN
cblr-13858	681	5	and	and	CCONJ
cblr-13858	681	6	the	the	DET
cblr-13858	681	7	birth	birth	NOUN
cblr-13858	681	8	of	of	ADP
cblr-13858	681	9	person	person	NOUN
cblr-13858	681	10	-	-	PUNCT
cblr-13858	681	11	to	to	ADP
cblr-13858	681	12	-	-	PUNCT
cblr-13858	681	13	person	person	NOUN
cblr-13858	681	14	microfinance	microfinance	NOUN
cblr-13858	681	15	,	,	PUNCT
cblr-13858	681	16	2	2	NUM
cblr-13858	681	17	innovations	innovation	NOUN
cblr-13858	681	18	31	31	NUM
cblr-13858	681	19	,	,	PUNCT
cblr-13858	681	20	53	53	NUM
cblr-13858	681	21	(	(	PUNCT
cblr-13858	681	22	2007	2007	NUM
cblr-13858	681	23	)	)	PUNCT
cblr-13858	681	24	.	.	PUNCT
cblr-13858	682	1	kiva	kiva	PROPN
cblr-13858	682	2	decided	decide	VERB
cblr-13858	682	3	not	not	PART
cblr-13858	682	4	to	to	PART
cblr-13858	682	5	offer	offer	VERB
cblr-13858	682	6	interest	interest	NOUN
cblr-13858	682	7	after	after	SCONJ
cblr-13858	682	8	flannery	flannery	PROPN
cblr-13858	682	9	had	have	VERB
cblr-13858	682	10	a	a	DET
cblr-13858	682	11	conversation	conversation	NOUN
cblr-13858	682	12	with	with	ADP
cblr-13858	682	13	an	an	DET
cblr-13858	682	14	attorney	attorney	NOUN
cblr-13858	682	15	in	in	ADP
cblr-13858	682	16	the	the	DET
cblr-13858	682	17	sec	sec	PROPN
cblr-13858	682	18	's	's	PART
cblr-13858	682	19	office	office	NOUN
cblr-13858	682	20	of	of	ADP
cblr-13858	682	21	small	small	ADJ
cblr-13858	682	22	business	business	NOUN
cblr-13858	682	23	policy	policy	NOUN
cblr-13858	682	24	and	and	CCONJ
cblr-13858	682	25	concluded	conclude	VERB
cblr-13858	682	26	that	that	SCONJ
cblr-13858	682	27	the	the	DET
cblr-13858	682	28	key	key	NOUN
cblr-13858	682	29	to	to	ADP
cblr-13858	682	30	avoiding	avoid	VERB
cblr-13858	682	31	sec	sec	PROPN
cblr-13858	682	32	interference	interference	NOUN
cblr-13858	682	33	was	be	AUX
cblr-13858	682	34	not	not	PART
cblr-13858	682	35	to	to	PART
cblr-13858	682	36	pay	pay	VERB
cblr-13858	682	37	interest	interest	NOUN
cblr-13858	682	38	.	.	PUNCT
cblr-13858	683	1	i	i	PRON
cblr-13858	683	2	d.	d.	PROPN
cblr-13858	683	3	at	at	ADP
cblr-13858	683	4	41	41	NUM
cblr-13858	683	5	.	.	PUNCT
cblr-13858	684	1	161	161	NUM
cblr-13858	684	2	see	see	VERB
cblr-13858	684	3	global	global	PROPN
cblr-13858	684	4	dev	dev	PROPN
cblr-13858	684	5	.	.	PUNCT
cblr-13858	685	1	co	co	VERB
cblr-13858	685	2	-	-	NOUN
cblr-13858	685	3	operative	operative	ADJ
cblr-13858	685	4	,	,	PUNCT
cblr-13858	685	5	sec	sec	PROPN
cblr-13858	685	6	no	no	DET
cblr-13858	685	7	-	-	PUNCT
cblr-13858	685	8	action	action	NOUN
cblr-13858	685	9	letter	letter	NOUN
cblr-13858	685	10	,	,	PUNCT
cblr-13858	685	11	2011	2011	NUM
cblr-13858	685	12	wl	wl	SYM
cblr-13858	685	13	5013895	5013895	NUM
cblr-13858	685	14	(	(	PUNCT
cblr-13858	685	15	oct	oct	PROPN
cblr-13858	685	16	.	.	PROPN
cblr-13858	685	17	19	19	NUM
cblr-13858	685	18	,	,	PUNCT
cblr-13858	685	19	2011	2011	NUM
cblr-13858	685	20	)	)	PUNCT
cblr-13858	685	21	(	(	PUNCT
cblr-13858	685	22	granting	grant	VERB
cblr-13858	685	23	no	no	DET
cblr-13858	685	24	-	-	PUNCT
cblr-13858	685	25	action	action	NOUN
cblr-13858	685	26	relief	relief	NOUN
cblr-13858	685	27	to	to	ADP
cblr-13858	685	28	a	a	DET
cblr-13858	685	29	cooperative	cooperative	NOUN
cblr-13858	685	30	that	that	PRON
cblr-13858	685	31	planned	plan	VERB
cblr-13858	685	32	to	to	PART
cblr-13858	685	33	sell	sell	VERB
cblr-13858	685	34	interest	interest	NOUN
cblr-13858	685	35	-	-	PUNCT
cblr-13858	685	36	free	free	ADJ
cblr-13858	685	37	notes	note	NOUN
cblr-13858	685	38	to	to	PART
cblr-13858	685	39	help	help	VERB
cblr-13858	685	40	fund	fund	VERB
cblr-13858	685	41	capital	capital	NOUN
cblr-13858	685	42	investment	investment	NOUN
cblr-13858	685	43	projects	project	NOUN
cblr-13858	685	44	in	in	ADP
cblr-13858	685	45	developing	develop	VERB
cblr-13858	685	46	countries	country	NOUN
cblr-13858	685	47	)	)	PUNCT
cblr-13858	685	48	.	.	PUNCT
cblr-13858	686	1	see	see	VERB
cblr-13858	686	2	also	also	ADV
cblr-13858	686	3	davis	davis	PROPN
cblr-13858	686	4	&	&	CCONJ
cblr-13858	686	5	gelpern	gelpern	PROPN
cblr-13858	686	6	,	,	PUNCT
cblr-13858	686	7	supra	supra	PROPN
cblr-13858	686	8	note	note	NOUN
cblr-13858	686	9	156	156	NUM
cblr-13858	686	10	,	,	PUNCT
cblr-13858	686	11	at	at	ADP
cblr-13858	686	12	1241	1241	NUM
cblr-13858	686	13	,	,	PUNCT
cblr-13858	686	14	1258	1258	NUM
cblr-13858	686	15	-	-	SYM
cblr-13858	686	16	59	59	NUM
cblr-13858	686	17	(	(	PUNCT
cblr-13858	686	18	conceding	concede	VERB
cblr-13858	686	19	that	that	SCONJ
cblr-13858	686	20	sites	site	NOUN
cblr-13858	686	21	like	like	ADP
cblr-13858	686	22	kiva	kiva	PROPN
cblr-13858	686	23	are	be	AUX
cblr-13858	686	24	not	not	PART
cblr-13858	686	25	offering	offer	VERB
cblr-13858	686	26	securities	security	NOUN
cblr-13858	686	27	under	under	ADP
cblr-13858	686	28	current	current	ADJ
cblr-13858	686	29	law	law	NOUN
cblr-13858	686	30	,	,	PUNCT
cblr-13858	686	31	but	but	CCONJ
cblr-13858	686	32	arguing	argue	VERB
cblr-13858	686	33	that	that	SCONJ
cblr-13858	686	34	such	such	ADJ
cblr-13858	686	35	investments	investment	NOUN
cblr-13858	686	36	should	should	AUX
cblr-13858	686	37	be	be	AUX
cblr-13858	686	38	regulated	regulate	VERB
cblr-13858	686	39	)	)	PUNCT
cblr-13858	686	40	.	.	PUNCT
cblr-13858	687	1	35no	35no	NOUN
cblr-13858	687	2	.	.	PUNCT
cblr-13858	688	1	i	i	PRON
cblr-13858	688	2	:	:	PUNCT
cblr-13858	688	3	1	1	X
cblr-13858	688	4	]	]	X
cblr-13858	688	5	crowdfunding	crowdfunding	NOUN
cblr-13858	688	6	and	and	CCONJ
cblr-13858	688	7	securities	securities	PROPN
cblr-13858	688	8	la	la	PROPN
cblr-13858	688	9	ws	ws	PROPN
cblr-13858	688	10	investments	investment	NOUN
cblr-13858	688	11	made	make	VERB
cblr-13858	688	12	through	through	ADP
cblr-13858	688	13	lending	lending	NOUN
cblr-13858	688	14	-	-	PUNCT
cblr-13858	688	15	model	model	NOUN
cblr-13858	688	16	sites	site	NOUN
cblr-13858	688	17	might	might	AUX
cblr-13858	688	18	also	also	ADV
cblr-13858	688	19	involve	involve	VERB
cblr-13858	688	20	notes	note	NOUN
cblr-13858	688	21	,	,	PUNCT
cblr-13858	688	22	and	and	CCONJ
cblr-13858	688	23	thus	thus	ADV
cblr-13858	688	24	be	be	AUX
cblr-13858	688	25	securities	security	NOUN
cblr-13858	688	26	under	under	ADP
cblr-13858	688	27	another	another	DET
cblr-13858	688	28	part	part	NOUN
cblr-13858	688	29	of	of	ADP
cblr-13858	688	30	the	the	DET
cblr-13858	688	31	definition.162	definition.162	NOUN
cblr-13858	688	32	some	some	PRON
cblr-13858	688	33	of	of	ADP
cblr-13858	688	34	the	the	DET
cblr-13858	688	35	lending	lending	NOUN
cblr-13858	688	36	sites	site	NOUN
cblr-13858	688	37	,	,	PUNCT
cblr-13858	688	38	such	such	ADJ
cblr-13858	688	39	as	as	ADP
cblr-13858	688	40	kiva	kiva	PROPN
cblr-13858	688	41	,	,	PUNCT
cblr-13858	688	42	do	do	AUX
cblr-13858	688	43	not	not	PART
cblr-13858	688	44	give	give	VERB
cblr-13858	688	45	investors	investor	NOUN
cblr-13858	688	46	a	a	DET
cblr-13858	688	47	formal	formal	ADJ
cblr-13858	688	48	note	note	NOUN
cblr-13858	688	49	in	in	ADP
cblr-13858	688	50	return	return	NOUN
cblr-13858	688	51	for	for	ADP
cblr-13858	688	52	their	their	PRON
cblr-13858	688	53	investments	investment	NOUN
cblr-13858	688	54	;	;	PUNCT
cblr-13858	688	55	others	other	NOUN
cblr-13858	688	56	,	,	PUNCT
cblr-13858	688	57	such	such	ADJ
cblr-13858	688	58	as	as	ADP
cblr-13858	688	59	lending	lending	NOUN
cblr-13858	688	60	club	club	NOUN
cblr-13858	688	61	and	and	CCONJ
cblr-13858	688	62	prosper	prosper	NOUN
cblr-13858	688	63	,	,	PUNCT
cblr-13858	688	64	do	do	VERB
cblr-13858	688	65	.	.	PUNCT
cblr-13858	689	1	the	the	DET
cblr-13858	689	2	term	term	NOUN
cblr-13858	689	3	"	"	PUNCT
cblr-13858	689	4	note	note	NOUN
cblr-13858	689	5	"	"	PUNCT
cblr-13858	689	6	appears	appear	VERB
cblr-13858	689	7	in	in	ADP
cblr-13858	689	8	the	the	DET
cblr-13858	689	9	definition	definition	NOUN
cblr-13858	689	10	of	of	ADP
cblr-13858	689	11	a	a	DET
cblr-13858	689	12	security,163	security,163	PROPN
cblr-13858	689	13	but	but	CCONJ
cblr-13858	689	14	not	not	PART
cblr-13858	689	15	all	all	DET
cblr-13858	689	16	notes	note	NOUN
cblr-13858	689	17	are	be	AUX
cblr-13858	689	18	securities	security	NOUN
cblr-13858	689	19	.	.	PUNCT
cblr-13858	690	1	the	the	DET
cblr-13858	690	2	supreme	supreme	PROPN
cblr-13858	690	3	court	court	PROPN
cblr-13858	690	4	applies	apply	VERB
cblr-13858	690	5	a	a	DET
cblr-13858	690	6	different	different	ADJ
cblr-13858	690	7	analysis	analysis	NOUN
cblr-13858	690	8	,	,	PUNCT
cblr-13858	690	9	first	first	ADV
cblr-13858	690	10	articulated	articulate	VERB
cblr-13858	690	11	in	in	ADP
cblr-13858	690	12	reves	ref	NOUN
cblr-13858	690	13	v.	v.	ADP
cblr-13858	690	14	ernst	ernst	PROPN
cblr-13858	690	15	&	&	CCONJ
cblr-13858	690	16	young,'64	young,'64	PROPN
cblr-13858	690	17	to	to	PART
cblr-13858	690	18	determine	determine	VERB
cblr-13858	690	19	whether	whether	SCONJ
cblr-13858	690	20	a	a	DET
cblr-13858	690	21	note	note	NOUN
cblr-13858	690	22	is	be	AUX
cblr-13858	690	23	a	a	DET
cblr-13858	690	24	security	security	NOUN
cblr-13858	690	25	.	.	PUNCT
cblr-13858	691	1	crowdfunding	crowdfunding	NOUN
cblr-13858	691	2	notes	note	NOUN
cblr-13858	691	3	that	that	PRON
cblr-13858	691	4	promise	promise	VERB
cblr-13858	691	5	to	to	PART
cblr-13858	691	6	pay	pay	VERB
cblr-13858	691	7	interest	interest	NOUN
cblr-13858	691	8	to	to	ADP
cblr-13858	691	9	investors	investor	NOUN
cblr-13858	691	10	would	would	AUX
cblr-13858	691	11	probably	probably	ADV
cblr-13858	691	12	be	be	AUX
cblr-13858	691	13	securities	security	NOUN
cblr-13858	691	14	under	under	ADP
cblr-13858	691	15	the	the	DET
cblr-13858	691	16	reves	ref	NOUN
cblr-13858	691	17	test	test	NOUN
cblr-13858	691	18	.	.	PUNCT
cblr-13858	692	1	the	the	DET
cblr-13858	692	2	reves	ref	NOUN
cblr-13858	692	3	analysis	analysis	NOUN
cblr-13858	692	4	,	,	PUNCT
cblr-13858	692	5	known	know	VERB
cblr-13858	692	6	as	as	ADP
cblr-13858	692	7	the	the	DET
cblr-13858	692	8	"	"	PUNCT
cblr-13858	692	9	family	family	NOUN
cblr-13858	692	10	resemblance	resemblance	NOUN
cblr-13858	692	11	test	test	NOUN
cblr-13858	692	12	,	,	PUNCT
cblr-13858	692	13	"	"	PUNCT
cblr-13858	692	14	begins	begin	VERB
cblr-13858	692	15	with	with	ADP
cblr-13858	692	16	a	a	DET
cblr-13858	692	17	rebuttable	rebuttable	ADJ
cblr-13858	692	18	presumption	presumption	NOUN
cblr-13858	692	19	that	that	SCONJ
cblr-13858	692	20	every	every	DET
cblr-13858	692	21	note	note	NOUN
cblr-13858	692	22	is	be	AUX
cblr-13858	692	23	a	a	DET
cblr-13858	692	24	security	security	NOUN
cblr-13858	692	25	.	.	PUNCT
cblr-13858	692	26	'	'	PUNCT
cblr-13858	693	1	it	it	PRON
cblr-13858	693	2	then	then	ADV
cblr-13858	693	3	looks	look	VERB
cblr-13858	693	4	to	to	ADP
cblr-13858	693	5	a	a	DET
cblr-13858	693	6	list	list	NOUN
cblr-13858	693	7	of	of	ADP
cblr-13858	693	8	notes	note	NOUN
cblr-13858	693	9	that	that	PRON
cblr-13858	693	10	are	be	AUX
cblr-13858	693	11	not	not	PART
cblr-13858	693	12	securities	security	NOUN
cblr-13858	693	13	,	,	PUNCT
cblr-13858	693	14	but	but	CCONJ
cblr-13858	693	15	crowdfunding	crowdfunde	VERB
cblr-13858	693	16	loans	loan	NOUN
cblr-13858	693	17	to	to	ADP
cblr-13858	693	18	businesses	business	NOUN
cblr-13858	693	19	would	would	AUX
cblr-13858	693	20	not	not	PART
cblr-13858	693	21	fit	fit	VERB
cblr-13858	693	22	any	any	PRON
cblr-13858	693	23	of	of	ADP
cblr-13858	693	24	the	the	DET
cblr-13858	693	25	categories	category	NOUN
cblr-13858	693	26	on	on	ADP
cblr-13858	693	27	that	that	DET
cblr-13858	693	28	list.166	list.166	NOUN
cblr-13858	693	29	the	the	DET
cblr-13858	693	30	final	final	ADJ
cblr-13858	693	31	step	step	NOUN
cblr-13858	693	32	of	of	ADP
cblr-13858	693	33	the	the	DET
cblr-13858	693	34	reves	ref	NOUN
cblr-13858	693	35	analysis	analysis	NOUN
cblr-13858	693	36	is	be	AUX
cblr-13858	693	37	therefore	therefore	ADV
cblr-13858	693	38	162	162	NUM
cblr-13858	693	39	when	when	SCONJ
cblr-13858	693	40	an	an	DET
cblr-13858	693	41	instrument	instrument	NOUN
cblr-13858	693	42	is	be	AUX
cblr-13858	693	43	a	a	DET
cblr-13858	693	44	note	note	NOUN
cblr-13858	693	45	,	,	PUNCT
cblr-13858	693	46	the	the	DET
cblr-13858	693	47	applicability	applicability	NOUN
cblr-13858	693	48	of	of	ADP
cblr-13858	693	49	the	the	DET
cblr-13858	693	50	howey	howey	PROPN
cblr-13858	693	51	investment	investment	PROPN
cblr-13858	693	52	contract	contract	NOUN
cblr-13858	693	53	analysis	analysis	NOUN
cblr-13858	693	54	is	be	AUX
cblr-13858	693	55	a	a	DET
cblr-13858	693	56	little	little	ADJ
cblr-13858	693	57	unclear	unclear	ADJ
cblr-13858	693	58	.	.	PUNCT
cblr-13858	694	1	most	most	ADJ
cblr-13858	694	2	courts	court	NOUN
cblr-13858	694	3	have	have	AUX
cblr-13858	694	4	applied	apply	VERB
cblr-13858	694	5	the	the	DET
cblr-13858	694	6	howey	howey	PROPN
cblr-13858	694	7	investment	investment	PROPN
cblr-13858	694	8	contract	contract	NOUN
cblr-13858	694	9	test	test	NOUN
cblr-13858	694	10	and	and	CCONJ
cblr-13858	694	11	the	the	DET
cblr-13858	694	12	reves	ref	NOUN
cblr-13858	694	13	note	note	PROPN
cblr-13858	694	14	test	test	NOUN
cblr-13858	694	15	in	in	ADP
cblr-13858	694	16	the	the	DET
cblr-13858	694	17	alternative	alternative	NOUN
cblr-13858	694	18	with	with	ADP
cblr-13858	694	19	little	little	ADJ
cblr-13858	694	20	analysis	analysis	NOUN
cblr-13858	694	21	.	.	PUNCT
cblr-13858	695	1	see	see	VERB
cblr-13858	695	2	,	,	PUNCT
cblr-13858	695	3	e.g.	e.g.	ADV
cblr-13858	695	4	,	,	PUNCT
cblr-13858	695	5	sec	sec	PROPN
cblr-13858	695	6	v.	v.	PROPN
cblr-13858	695	7	u.s	u.s	PROPN
cblr-13858	695	8	.	.	PROPN
cblr-13858	695	9	reservation	reservation	PROPN
cblr-13858	695	10	bank	bank	PROPN
cblr-13858	695	11	&	&	CCONJ
cblr-13858	695	12	trust	trust	PROPN
cblr-13858	695	13	,	,	PUNCT
cblr-13858	695	14	289	289	NUM
cblr-13858	695	15	f.	f.	NOUN
cblr-13858	695	16	app'x	app'x	PROPN
cblr-13858	695	17	228	228	NUM
cblr-13858	695	18	,	,	PUNCT
cblr-13858	695	19	230	230	NUM
cblr-13858	695	20	-	-	SYM
cblr-13858	695	21	31	31	NUM
cblr-13858	695	22	(	(	PUNCT
cblr-13858	695	23	9th	9th	ADJ
cblr-13858	695	24	cir	cir	NOUN
cblr-13858	695	25	.	.	PROPN
cblr-13858	695	26	2008	2008	NUM
cblr-13858	695	27	)	)	PUNCT
cblr-13858	695	28	;	;	PUNCT
cblr-13858	695	29	resolution	resolution	PROPN
cblr-13858	695	30	trust	trust	PROPN
cblr-13858	695	31	corp	corp	PROPN
cblr-13858	695	32	.	.	PROPN
cblr-13858	696	1	v.	v.	ADP
cblr-13858	696	2	stone	stone	PROPN
cblr-13858	696	3	,	,	PUNCT
cblr-13858	696	4	998	998	NUM
cblr-13858	696	5	f.2d	f.2d	NOUN
cblr-13858	696	6	1534	1534	NUM
cblr-13858	696	7	,	,	PUNCT
cblr-13858	696	8	1539	1539	NUM
cblr-13858	696	9	(	(	PUNCT
cblr-13858	696	10	10th	10th	ADJ
cblr-13858	696	11	cir	cir	NOUN
cblr-13858	696	12	.	.	PROPN
cblr-13858	696	13	1993	1993	NUM
cblr-13858	696	14	)	)	PUNCT
cblr-13858	697	1	;	;	PUNCT
cblr-13858	697	2	sec	sec	PROPN
cblr-13858	697	3	v.	v.	ADP
cblr-13858	697	4	novus	novus	PROPN
cblr-13858	697	5	tech	tech	PROPN
cblr-13858	697	6	.	.	PUNCT
cblr-13858	697	7	,	,	PUNCT
cblr-13858	697	8	llc	llc	PROPN
cblr-13858	697	9	,	,	PUNCT
cblr-13858	697	10	no	no	INTJ
cblr-13858	697	11	.	.	PUNCT
cblr-13858	698	1	2:07	2:07	NUM
cblr-13858	698	2	-	-	PUNCT
cblr-13858	698	3	cv-235	cv-235	PROPN
cblr-13858	698	4	-	-	PUNCT
cblr-13858	698	5	tc	tc	NOUN
cblr-13858	698	6	,	,	PUNCT
cblr-13858	698	7	2010	2010	NUM
cblr-13858	698	8	wl	wl	SYM
cblr-13858	698	9	4180550	4180550	NUM
cblr-13858	698	10	(	(	PUNCT
cblr-13858	698	11	d.	d.	PROPN
cblr-13858	698	12	utah	utah	PROPN
cblr-13858	698	13	oct	oct	PROPN
cblr-13858	698	14	.	.	PROPN
cblr-13858	698	15	20	20	NUM
cblr-13858	698	16	,	,	PUNCT
cblr-13858	698	17	2010	2010	NUM
cblr-13858	698	18	)	)	PUNCT
cblr-13858	698	19	;	;	PUNCT
cblr-13858	699	1	in	in	ADP
cblr-13858	699	2	re	re	X
cblr-13858	699	3	tucker	tucker	PROPN
cblr-13858	699	4	freight	freight	NOUN
cblr-13858	699	5	lines	line	NOUN
cblr-13858	699	6	,	,	PUNCT
cblr-13858	699	7	inc	inc	PROPN
cblr-13858	699	8	.	.	PROPN
cblr-13858	699	9	,	,	PUNCT
cblr-13858	699	10	789	789	NUM
cblr-13858	699	11	f.	f.	PROPN
cblr-13858	699	12	supp	supp	PROPN
cblr-13858	699	13	.	.	PUNCT
cblr-13858	699	14	884	884	NUM
cblr-13858	699	15	,	,	PUNCT
cblr-13858	699	16	888	888	NUM
cblr-13858	699	17	-	-	SYM
cblr-13858	699	18	89	89	NUM
cblr-13858	699	19	(	(	PUNCT
cblr-13858	699	20	w.d	w.d	PROPN
cblr-13858	699	21	.	.	PROPN
cblr-13858	699	22	mich	mich	PROPN
cblr-13858	699	23	.	.	PROPN
cblr-13858	699	24	1991	1991	NUM
cblr-13858	699	25	)	)	PUNCT
cblr-13858	699	26	;	;	PUNCT
cblr-13858	699	27	reeder	reeder	PROPN
cblr-13858	699	28	v.	v.	CCONJ
cblr-13858	699	29	succession	succession	NOUN
cblr-13858	699	30	of	of	ADP
cblr-13858	699	31	palmer	palmer	PROPN
cblr-13858	699	32	,	,	PUNCT
cblr-13858	699	33	736	736	NUM
cblr-13858	699	34	f.	f.	PROPN
cblr-13858	699	35	supp	supp	PROPN
cblr-13858	699	36	.	.	PUNCT
cblr-13858	700	1	128	128	NUM
cblr-13858	700	2	,	,	PUNCT
cblr-13858	700	3	131	131	NUM
cblr-13858	700	4	-	-	SYM
cblr-13858	700	5	32	32	NUM
cblr-13858	700	6	(	(	PUNCT
cblr-13858	700	7	e.d	e.d	PROPN
cblr-13858	700	8	.	.	PROPN
cblr-13858	700	9	la	la	PROPN
cblr-13858	700	10	.	.	PROPN
cblr-13858	700	11	1990	1990	NUM
cblr-13858	700	12	)	)	PUNCT
cblr-13858	700	13	.	.	PUNCT
cblr-13858	701	1	see	see	VERB
cblr-13858	701	2	also	also	ADV
cblr-13858	701	3	dennis	dennis	PROPN
cblr-13858	701	4	s.	s.	PROPN
cblr-13858	701	5	corgill	corgill	PROPN
cblr-13858	701	6	,	,	PUNCT
cblr-13858	701	7	securities	security	NOUN
cblr-13858	701	8	as	as	ADP
cblr-13858	701	9	investments	investment	NOUN
cblr-13858	701	10	at	at	ADP
cblr-13858	701	11	risk	risk	NOUN
cblr-13858	701	12	,	,	PUNCT
cblr-13858	701	13	67	67	NUM
cblr-13858	701	14	tul	tul	NOUN
cblr-13858	701	15	.	.	PUNCT
cblr-13858	701	16	l.	l.	PROPN
cblr-13858	701	17	rev	rev	PROPN
cblr-13858	701	18	.	.	PROPN
cblr-13858	701	19	861	861	NUM
cblr-13858	701	20	,	,	PUNCT
cblr-13858	701	21	900	900	NUM
cblr-13858	701	22	(	(	PUNCT
cblr-13858	701	23	1993	1993	NUM
cblr-13858	701	24	)	)	PUNCT
cblr-13858	701	25	(	(	PUNCT
cblr-13858	701	26	concluding	conclude	VERB
cblr-13858	701	27	that	that	SCONJ
cblr-13858	701	28	a	a	DET
cblr-13858	701	29	note	note	NOUN
cblr-13858	701	30	that	that	PRON
cblr-13858	701	31	is	be	AUX
cblr-13858	701	32	not	not	PART
cblr-13858	701	33	a	a	DET
cblr-13858	701	34	security	security	NOUN
cblr-13858	701	35	under	under	ADP
cblr-13858	701	36	the	the	DET
cblr-13858	701	37	reves	ref	NOUN
cblr-13858	701	38	test	test	NOUN
cblr-13858	701	39	could	could	AUX
cblr-13858	701	40	still	still	ADV
cblr-13858	701	41	be	be	AUX
cblr-13858	701	42	a	a	DET
cblr-13858	701	43	security	security	NOUN
cblr-13858	701	44	under	under	ADP
cblr-13858	701	45	the	the	DET
cblr-13858	701	46	howey	howey	PROPN
cblr-13858	701	47	investment	investment	PROPN
cblr-13858	701	48	contract	contract	NOUN
cblr-13858	701	49	test	test	NOUN
cblr-13858	701	50	)	)	PUNCT
cblr-13858	701	51	.	.	PUNCT
cblr-13858	702	1	but	but	CCONJ
cblr-13858	702	2	see	see	VERB
cblr-13858	702	3	robert	robert	PROPN
cblr-13858	702	4	anderson	anderson	PROPN
cblr-13858	702	5	iv	iv	PROPN
cblr-13858	702	6	,	,	PUNCT
cblr-13858	702	7	employee	employee	NOUN
cblr-13858	702	8	incentives	incentive	NOUN
cblr-13858	702	9	and	and	CCONJ
cblr-13858	702	10	the	the	DET
cblr-13858	702	11	federal	federal	ADJ
cblr-13858	702	12	securities	security	NOUN
cblr-13858	702	13	laws	law	NOUN
cblr-13858	702	14	,	,	PUNCT
cblr-13858	702	15	57	57	NUM
cblr-13858	702	16	u.	u.	PROPN
cblr-13858	702	17	miami	miami	PROPN
cblr-13858	702	18	l.	l.	PROPN
cblr-13858	702	19	rev	rev	PROPN
cblr-13858	702	20	.	.	PROPN
cblr-13858	702	21	1195	1195	NUM
cblr-13858	702	22	,	,	PUNCT
cblr-13858	702	23	1231	1231	NUM
cblr-13858	702	24	(	(	PUNCT
cblr-13858	702	25	2003	2003	NUM
cblr-13858	702	26	)	)	PUNCT
cblr-13858	702	27	(	(	PUNCT
cblr-13858	702	28	arguing	argue	VERB
cblr-13858	702	29	against	against	ADP
cblr-13858	702	30	applying	apply	VERB
cblr-13858	702	31	a	a	DET
cblr-13858	702	32	second	second	ADJ
cblr-13858	702	33	-	-	PUNCT
cblr-13858	702	34	stage	stage	NOUN
cblr-13858	702	35	investment	investment	NOUN
cblr-13858	702	36	contract	contract	NOUN
cblr-13858	702	37	analysis	analysis	NOUN
cblr-13858	702	38	to	to	ADP
cblr-13858	702	39	something	something	PRON
cblr-13858	702	40	that	that	PRON
cblr-13858	702	41	is	be	AUX
cblr-13858	702	42	not	not	PART
cblr-13858	702	43	a	a	DET
cblr-13858	702	44	security	security	NOUN
cblr-13858	702	45	under	under	ADP
cblr-13858	702	46	reves	ref	NOUN
cblr-13858	702	47	)	)	PUNCT
cblr-13858	702	48	.	.	PUNCT
cblr-13858	703	1	*	*	PUNCT
cblr-13858	703	2	see	see	VERB
cblr-13858	703	3	securities	security	NOUN
cblr-13858	703	4	act	act	NOUN
cblr-13858	703	5	of	of	ADP
cblr-13858	703	6	1933	1933	NUM
cblr-13858	703	7	§	§	PROPN
cblr-13858	703	8	2(a)(1	2(a)(1	NUM
cblr-13858	703	9	)	)	PUNCT
cblr-13858	703	10	,	,	PUNCT
cblr-13858	703	11	15	15	NUM
cblr-13858	703	12	u.s.c	u.s.c	ADJ
cblr-13858	703	13	.	.	PUNCT
cblr-13858	704	1	§	§	PROPN
cblr-13858	704	2	77b(a)(1	77b(a)(1	NUM
cblr-13858	704	3	)	)	PUNCT
cblr-13858	704	4	(	(	PUNCT
cblr-13858	704	5	2010	2010	NUM
cblr-13858	704	6	)	)	PUNCT
cblr-13858	704	7	.	.	PUNCT
cblr-13858	705	1	1	1	NUM
cblr-13858	705	2	494	494	NUM
cblr-13858	705	3	u.s	u.s	PROPN
cblr-13858	705	4	.	.	PROPN
cblr-13858	705	5	56	56	NUM
cblr-13858	705	6	,	,	PUNCT
cblr-13858	705	7	63	63	NUM
cblr-13858	705	8	-	-	SYM
cblr-13858	705	9	68	68	NUM
cblr-13858	705	10	(	(	PUNCT
cblr-13858	705	11	1990	1990	NUM
cblr-13858	705	12	)	)	PUNCT
cblr-13858	705	13	.	.	PUNCT
cblr-13858	706	1	165	165	NUM
cblr-13858	707	1	i	i	PRON
cblr-13858	707	2	d.	d.	PROPN
cblr-13858	707	3	at	at	ADP
cblr-13858	707	4	63	63	NUM
cblr-13858	707	5	.	.	SYM
cblr-13858	707	6	1	1	NUM
cblr-13858	707	7	reves	ref	NOUN
cblr-13858	707	8	accepted	accept	VERB
cblr-13858	707	9	the	the	DET
cblr-13858	707	10	following	follow	VERB
cblr-13858	707	11	categories	category	NOUN
cblr-13858	707	12	of	of	ADP
cblr-13858	707	13	non	non	NOUN
cblr-13858	707	14	-	-	NOUN
cblr-13858	707	15	securities	security	NOUN
cblr-13858	707	16	:	:	PUNCT
cblr-13858	708	1	[	[	X
cblr-13858	708	2	tihe	tihe	ADJ
cblr-13858	708	3	note	note	NOUN
cblr-13858	708	4	delivered	deliver	VERB
cblr-13858	708	5	in	in	ADP
cblr-13858	708	6	consumer	consumer	NOUN
cblr-13858	708	7	financing	financing	NOUN
cblr-13858	708	8	,	,	PUNCT
cblr-13858	708	9	the	the	DET
cblr-13858	708	10	note	note	NOUN
cblr-13858	708	11	secured	secure	VERB
cblr-13858	708	12	by	by	ADP
cblr-13858	708	13	a	a	DET
cblr-13858	708	14	mortgage	mortgage	NOUN
cblr-13858	708	15	on	on	ADP
cblr-13858	708	16	a	a	DET
cblr-13858	708	17	home	home	NOUN
cblr-13858	708	18	,	,	PUNCT
cblr-13858	708	19	the	the	DET
cblr-13858	708	20	short	short	ADJ
cblr-13858	708	21	-	-	PUNCT
cblr-13858	708	22	term	term	NOUN
cblr-13858	708	23	note	note	NOUN
cblr-13858	708	24	secured	secure	VERB
cblr-13858	708	25	by	by	ADP
cblr-13858	708	26	a	a	DET
cblr-13858	708	27	lien	lien	NOUN
cblr-13858	708	28	on	on	ADP
cblr-13858	708	29	a	a	DET
cblr-13858	708	30	small	small	ADJ
cblr-13858	708	31	business	business	NOUN
cblr-13858	708	32	or	or	CCONJ
cblr-13858	708	33	some	some	PRON
cblr-13858	708	34	of	of	ADP
cblr-13858	708	35	its	its	PRON
cblr-13858	708	36	assets	asset	NOUN
cblr-13858	708	37	,	,	PUNCT
cblr-13858	708	38	the	the	DET
cblr-13858	708	39	note	note	NOUN
cblr-13858	708	40	evidencing	evidence	VERB
cblr-13858	708	41	a	a	DET
cblr-13858	708	42	'	'	PUNCT
cblr-13858	708	43	character	character	NOUN
cblr-13858	708	44	'	'	PUNCT
cblr-13858	708	45	loan	loan	NOUN
cblr-13858	708	46	to	to	ADP
cblr-13858	708	47	a	a	DET
cblr-13858	708	48	bank	bank	NOUN
cblr-13858	708	49	customer	customer	NOUN
cblr-13858	708	50	,	,	PUNCT
cblr-13858	708	51	36	36	NUM
cblr-13858	708	52	col	col	PROPN
cblr-13858	708	53	umbia	umbia	PROPN
cblr-13858	708	54	b	b	PROPN
cblr-13858	708	55	usiness	usiness	PROPN
cblr-13858	708	56	la	la	PROPN
cblr-13858	708	57	w	w	PROPN
cblr-13858	708	58	re	re	PROPN
cblr-13858	708	59	vie	vie	PROPN
cblr-13858	708	60	w	w	PROPN
cblr-13858	709	1	[	[	X
cblr-13858	709	2	vol	vol	NOUN
cblr-13858	709	3	.	.	PUNCT
cblr-13858	709	4	2012	2012	NUM
cblr-13858	709	5	cro	cro	NOUN
cblr-13858	709	6	wdfunding	wdfunding	NOUN
cblr-13858	709	7	and	and	CCONJ
cblr-13858	709	8	securities	security	NOUN
cblr-13858	709	9	laws	law	NOUN
cblr-13858	709	10	decisive	decisive	ADJ
cblr-13858	709	11	:	:	PUNCT
cblr-13858	709	12	applying	apply	VERB
cblr-13858	709	13	a	a	DET
cblr-13858	709	14	four	four	NUM
cblr-13858	709	15	-	-	PUNCT
cblr-13858	709	16	part	part	NOUN
cblr-13858	709	17	test	test	NOUN
cblr-13858	709	18	to	to	PART
cblr-13858	709	19	determine	determine	VERB
cblr-13858	709	20	whether	whether	SCONJ
cblr-13858	709	21	crowdfunding	crowdfunding	NOUN
cblr-13858	709	22	notes	note	NOUN
cblr-13858	709	23	bear	bear	VERB
cblr-13858	709	24	sufficient	sufficient	ADJ
cblr-13858	709	25	"	"	PUNCT
cblr-13858	709	26	family	family	NOUN
cblr-13858	709	27	resemblance	resemblance	NOUN
cblr-13858	709	28	"	"	PUNCT
cblr-13858	709	29	to	to	ADP
cblr-13858	709	30	the	the	DET
cblr-13858	709	31	listed	list	VERB
cblr-13858	709	32	non	non	NOUN
cblr-13858	709	33	-	-	NOUN
cblr-13858	709	34	securities	security	NOUN
cblr-13858	709	35	such	such	ADJ
cblr-13858	709	36	that	that	SCONJ
cblr-13858	709	37	crowdfunding	crowdfunding	NOUN
cblr-13858	709	38	notes	note	NOUN
cblr-13858	709	39	should	should	AUX
cblr-13858	709	40	also	also	ADV
cblr-13858	709	41	not	not	PART
cblr-13858	709	42	be	be	AUX
cblr-13858	709	43	treated	treat	VERB
cblr-13858	709	44	as	as	ADP
cblr-13858	709	45	securities	security	NOUN
cblr-13858	709	46	.	.	PUNCT
cblr-13858	710	1	the	the	DET
cblr-13858	710	2	four	four	NUM
cblr-13858	710	3	factors	factor	NOUN
cblr-13858	710	4	are	be	AUX
cblr-13858	710	5	(	(	PUNCT
cblr-13858	710	6	1	1	X
cblr-13858	710	7	)	)	PUNCT
cblr-13858	710	8	the	the	DET
cblr-13858	710	9	motivations	motivation	NOUN
cblr-13858	710	10	of	of	ADP
cblr-13858	710	11	the	the	DET
cblr-13858	710	12	buyer	buyer	NOUN
cblr-13858	710	13	and	and	CCONJ
cblr-13858	710	14	seller	seller	NOUN
cblr-13858	710	15	of	of	ADP
cblr-13858	710	16	the	the	DET
cblr-13858	710	17	note	note	NOUN
cblr-13858	710	18	;	;	PUNCT
cblr-13858	710	19	(	(	PUNCT
cblr-13858	710	20	2	2	X
cblr-13858	710	21	)	)	PUNCT
cblr-13858	710	22	the	the	DET
cblr-13858	710	23	plan	plan	NOUN
cblr-13858	710	24	of	of	ADP
cblr-13858	710	25	distribution	distribution	NOUN
cblr-13858	710	26	of	of	ADP
cblr-13858	710	27	the	the	DET
cblr-13858	710	28	notes	note	NOUN
cblr-13858	710	29	;	;	PUNCT
cblr-13858	710	30	(	(	PUNCT
cblr-13858	710	31	3	3	X
cblr-13858	710	32	)	)	PUNCT
cblr-13858	710	33	the	the	DET
cblr-13858	710	34	reasonable	reasonable	ADJ
cblr-13858	710	35	expectations	expectation	NOUN
cblr-13858	710	36	of	of	ADP
cblr-13858	710	37	the	the	DET
cblr-13858	710	38	investing	investing	NOUN
cblr-13858	710	39	public	public	NOUN
cblr-13858	710	40	;	;	PUNCT
cblr-13858	710	41	and	and	CCONJ
cblr-13858	710	42	(	(	PUNCT
cblr-13858	710	43	4	4	X
cblr-13858	710	44	)	)	PUNCT
cblr-13858	710	45	"	"	PUNCT
cblr-13858	710	46	whether	whether	SCONJ
cblr-13858	710	47	some	some	DET
cblr-13858	710	48	factor	factor	NOUN
cblr-13858	710	49	such	such	ADJ
cblr-13858	710	50	as	as	ADP
cblr-13858	710	51	the	the	DET
cblr-13858	710	52	existence	existence	NOUN
cblr-13858	710	53	of	of	ADP
cblr-13858	710	54	another	another	DET
cblr-13858	710	55	regulatory	regulatory	ADJ
cblr-13858	710	56	scheme	scheme	NOUN
cblr-13858	710	57	significantly	significantly	ADV
cblr-13858	710	58	reduces	reduce	VERB
cblr-13858	710	59	the	the	DET
cblr-13858	710	60	risk	risk	NOUN
cblr-13858	710	61	of	of	ADP
cblr-13858	710	62	the	the	DET
cblr-13858	710	63	instrument	instrument	NOUN
cblr-13858	710	64	,	,	PUNCT
cblr-13858	710	65	thereby	thereby	ADV
cblr-13858	710	66	rendering	render	VERB
cblr-13858	710	67	application	application	NOUN
cblr-13858	710	68	of	of	ADP
cblr-13858	710	69	the	the	DET
cblr-13858	710	70	securities	security	NOUN
cblr-13858	710	71	acts	act	NOUN
cblr-13858	710	72	unnecessary	unnecessary	ADJ
cblr-13858	710	73	.	.	PUNCT
cblr-13858	711	1	"	"	PUNCT
cblr-13858	711	2	167	167	NUM
cblr-13858	711	3	in	in	ADP
cblr-13858	711	4	applying	apply	VERB
cblr-13858	711	5	this	this	DET
cblr-13858	711	6	test	test	NOUN
cblr-13858	711	7	,	,	PUNCT
cblr-13858	711	8	it	it	PRON
cblr-13858	711	9	is	be	AUX
cblr-13858	711	10	important	important	ADJ
cblr-13858	711	11	to	to	PART
cblr-13858	711	12	keep	keep	VERB
cblr-13858	711	13	in	in	ADP
cblr-13858	711	14	mind	mind	NOUN
cblr-13858	711	15	that	that	SCONJ
cblr-13858	711	16	the	the	DET
cblr-13858	711	17	presumption	presumption	NOUN
cblr-13858	711	18	is	be	AUX
cblr-13858	711	19	in	in	ADP
cblr-13858	711	20	favor	favor	NOUN
cblr-13858	711	21	of	of	ADP
cblr-13858	711	22	treating	treat	VERB
cblr-13858	711	23	notes	note	NOUN
cblr-13858	711	24	as	as	ADP
cblr-13858	711	25	securities	security	NOUN
cblr-13858	711	26	.	.	PUNCT
cblr-13858	712	1	the	the	DET
cblr-13858	712	2	last	last	ADJ
cblr-13858	712	3	factor	factor	NOUN
cblr-13858	712	4	is	be	AUX
cblr-13858	712	5	easily	easily	ADV
cblr-13858	712	6	dismissed	dismiss	VERB
cblr-13858	712	7	.	.	PUNCT
cblr-13858	713	1	crowdfunding	crowdfunde	VERB
cblr-13858	713	2	loans	loan	NOUN
cblr-13858	713	3	,	,	PUNCT
cblr-13858	713	4	like	like	ADP
cblr-13858	713	5	the	the	DET
cblr-13858	713	6	notes	note	NOUN
cblr-13858	713	7	at	at	ADP
cblr-13858	713	8	issue	issue	NOUN
cblr-13858	713	9	in	in	ADP
cblr-13858	713	10	reves	ref	NOUN
cblr-13858	713	11	,	,	PUNCT
cblr-13858	713	12	are	be	AUX
cblr-13858	713	13	uncollateralized	uncollateralized	ADJ
cblr-13858	713	14	and	and	CCONJ
cblr-13858	713	15	uninsured	uninsured	ADJ
cblr-13858	713	16	,	,	PUNCT
cblr-13858	713	17	and	and	CCONJ
cblr-13858	713	18	no	no	DET
cblr-13858	713	19	other	other	ADJ
cblr-13858	713	20	federal	federal	ADJ
cblr-13858	713	21	regulatory	regulatory	ADJ
cblr-13858	713	22	scheme	scheme	NOUN
cblr-13858	713	23	covers	cover	VERB
cblr-13858	713	24	them	they	PRON
cblr-13858	713	25	.	.	PUNCT
cblr-13858	714	1	they	they	PRON
cblr-13858	714	2	"	"	PUNCT
cblr-13858	714	3	would	would	AUX
cblr-13858	714	4	escape	escape	VERB
cblr-13858	714	5	federal	federal	ADJ
cblr-13858	714	6	regulation	regulation	NOUN
cblr-13858	714	7	entirely	entirely	ADV
cblr-13858	714	8	if	if	SCONJ
cblr-13858	714	9	the	the	PRON
cblr-13858	714	10	.	.	PUNCT
cblr-13858	714	11	.	.	PUNCT
cblr-13858	714	12	.	.	PUNCT
cblr-13858	715	1	[	[	X
cblr-13858	715	2	federal	federal	ADJ
cblr-13858	715	3	securities	security	NOUN
cblr-13858	715	4	laws	law	NOUN
cblr-13858	715	5	]	]	PUNCT
cblr-13858	715	6	.	.	PUNCT
cblr-13858	715	7	.	.	PUNCT
cblr-13858	715	8	.	.	PUNCT
cblr-13858	716	1	were	be	AUX
cblr-13858	716	2	held	hold	VERB
cblr-13858	716	3	not	not	PART
cblr-13858	716	4	to	to	PART
cblr-13858	716	5	apply	apply	VERB
cblr-13858	716	6	.	.	PUNCT
cblr-13858	717	1	"1	"1	NOUN
cblr-13858	717	2	68	68	NUM
cblr-13858	718	1	the	the	DET
cblr-13858	718	2	motivations	motivation	NOUN
cblr-13858	718	3	factor	factor	NOUN
cblr-13858	718	4	supports	support	VERB
cblr-13858	718	5	treating	treat	VERB
cblr-13858	718	6	interest	interest	NOUN
cblr-13858	718	7	-	-	PUNCT
cblr-13858	718	8	bearing	bear	VERB
cblr-13858	718	9	crowdfunding	crowdfunding	NOUN
cblr-13858	718	10	notes	note	NOUN
cblr-13858	718	11	as	as	ADP
cblr-13858	718	12	securities	security	NOUN
cblr-13858	718	13	.	.	PUNCT
cblr-13858	719	1	the	the	DET
cblr-13858	719	2	entrepreneur	entrepreneur	NOUN
cblr-13858	719	3	's	's	PART
cblr-13858	719	4	purpose	purpose	NOUN
cblr-13858	719	5	-	-	PUNCT
cblr-13858	719	6	or	or	CCONJ
cblr-13858	719	7	in	in	ADP
cblr-13858	719	8	the	the	DET
cblr-13858	719	9	case	case	NOUN
cblr-13858	719	10	of	of	ADP
cblr-13858	719	11	sites	site	NOUN
cblr-13858	719	12	like	like	ADP
cblr-13858	719	13	lending	lending	NOUN
cblr-13858	719	14	club	club	NOUN
cblr-13858	719	15	and	and	CCONJ
cblr-13858	719	16	prosper	prosper	VERB
cblr-13858	719	17	that	that	PRON
cblr-13858	719	18	issue	issue	VERB
cblr-13858	719	19	their	their	PRON
cblr-13858	719	20	own	own	ADJ
cblr-13858	719	21	notes	note	NOUN
cblr-13858	719	22	to	to	PART
cblr-13858	719	23	finance	finance	NOUN
cblr-13858	719	24	entrepreneurs	entrepreneur	NOUN
cblr-13858	719	25	,	,	PUNCT
cblr-13858	719	26	the	the	DET
cblr-13858	719	27	site	site	NOUN
cblr-13858	719	28	's	's	PART
cblr-13858	719	29	purpose-"is	purpose-"is	NOUN
cblr-13858	719	30	to	to	PART
cblr-13858	719	31	raise	raise	VERB
cblr-13858	719	32	money	money	NOUN
cblr-13858	719	33	for	for	ADP
cblr-13858	719	34	the	the	DET
cblr-13858	719	35	general	general	ADJ
cblr-13858	719	36	use	use	NOUN
cblr-13858	719	37	of	of	ADP
cblr-13858	719	38	a	a	DET
cblr-13858	719	39	business	business	NOUN
cblr-13858	719	40	,	,	PUNCT
cblr-13858	719	41	"	"	PUNCT
cblr-13858	719	42	a	a	DET
cblr-13858	719	43	securities	security	NOUN
cblr-13858	719	44	purpose	purpose	NOUN
cblr-13858	719	45	.	.	PUNCT
cblr-13858	719	46	"	"	PUNCT
cblr-13858	720	1	investors	investor	NOUN
cblr-13858	720	2	are	be	AUX
cblr-13858	720	3	"	"	PUNCT
cblr-13858	720	4	interested	interested	ADJ
cblr-13858	720	5	primarily	primarily	ADV
cblr-13858	720	6	in	in	ADP
cblr-13858	720	7	the	the	DET
cblr-13858	720	8	profit	profit	NOUN
cblr-13858	720	9	the	the	DET
cblr-13858	720	10	note	note	NOUN
cblr-13858	720	11	is	be	AUX
cblr-13858	720	12	expected	expect	VERB
cblr-13858	720	13	to	to	PART
cblr-13858	720	14	generate,"7	generate,"7	VERB
cblr-13858	720	15	e	e	NOUN
cblr-13858	720	16	with	with	ADP
cblr-13858	720	17	profit	profit	NOUN
cblr-13858	720	18	defined	define	VERB
cblr-13858	720	19	by	by	ADP
cblr-13858	720	20	the	the	DET
cblr-13858	720	21	court	court	NOUN
cblr-13858	720	22	to	to	PART
cblr-13858	720	23	include	include	VERB
cblr-13858	720	24	ordinary	ordinary	ADJ
cblr-13858	720	25	interest	interest	NOUN
cblr-13858	720	26	.	.	PUNCT
cblr-13858	721	1	71	71	NUM
cblr-13858	721	2	this	this	PRON
cblr-13858	721	3	is	be	AUX
cblr-13858	721	4	also	also	ADV
cblr-13858	721	5	a	a	DET
cblr-13858	721	6	securities	security	NOUN
cblr-13858	721	7	purpose	purpose	NOUN
cblr-13858	721	8	.	.	PUNCT
cblr-13858	722	1	however	however	ADV
cblr-13858	722	2	,	,	PUNCT
cblr-13858	722	3	investors	investor	NOUN
cblr-13858	722	4	on	on	ADP
cblr-13858	722	5	sites	site	NOUN
cblr-13858	722	6	that	that	PRON
cblr-13858	722	7	offer	offer	VERB
cblr-13858	722	8	no	no	DET
cblr-13858	722	9	interest	interest	NOUN
cblr-13858	722	10	are	be	AUX
cblr-13858	722	11	not	not	PART
cblr-13858	722	12	interested	interested	ADJ
cblr-13858	722	13	in	in	ADP
cblr-13858	722	14	short	short	ADJ
cblr-13858	722	15	-	-	PUNCT
cblr-13858	722	16	term	term	NOUN
cblr-13858	722	17	notes	note	NOUN
cblr-13858	722	18	secured	secure	VERB
cblr-13858	722	19	by	by	ADP
cblr-13858	722	20	an	an	DET
cblr-13858	722	21	assignment	assignment	NOUN
cblr-13858	722	22	of	of	ADP
cblr-13858	722	23	accounts	account	NOUN
cblr-13858	722	24	receivable	receivable	ADJ
cblr-13858	722	25	,	,	PUNCT
cblr-13858	722	26	.	.	PUNCT
cblr-13858	722	27	.	.	PUNCT
cblr-13858	722	28	.	.	PUNCT
cblr-13858	723	1	a	a	DET
cblr-13858	723	2	note	note	NOUN
cblr-13858	723	3	which	which	PRON
cblr-13858	723	4	simply	simply	ADV
cblr-13858	723	5	formalizes	formalize	VERB
cblr-13858	723	6	an	an	DET
cblr-13858	723	7	openaccount	openaccount	NOUN
cblr-13858	723	8	debt	debt	NOUN
cblr-13858	723	9	incurred	incur	VERB
cblr-13858	723	10	in	in	ADP
cblr-13858	723	11	the	the	DET
cblr-13858	723	12	ordinary	ordinary	ADJ
cblr-13858	723	13	course	course	NOUN
cblr-13858	723	14	of	of	ADP
cblr-13858	723	15	business	business	NOUN
cblr-13858	723	16	(	(	PUNCT
cblr-13858	723	17	particularly	particularly	ADV
cblr-13858	723	18	if	if	SCONJ
cblr-13858	723	19	,	,	PUNCT
cblr-13858	723	20	as	as	ADP
cblr-13858	723	21	in	in	ADP
cblr-13858	723	22	the	the	DET
cblr-13858	723	23	case	case	NOUN
cblr-13858	723	24	of	of	ADP
cblr-13858	723	25	the	the	DET
cblr-13858	723	26	customer	customer	NOUN
cblr-13858	723	27	of	of	ADP
cblr-13858	723	28	a	a	DET
cblr-13858	723	29	broker	broker	NOUN
cblr-13858	723	30	,	,	PUNCT
cblr-13858	723	31	it	it	PRON
cblr-13858	723	32	is	be	AUX
cblr-13858	723	33	collateralized	collateralize	VERB
cblr-13858	723	34	)	)	PUNCT
cblr-13858	723	35	,	,	PUNCT
cblr-13858	723	36	.	.	PUNCT
cblr-13858	723	37	.	.	PUNCT
cblr-13858	723	38	.	.	PUNCT
cblr-13858	724	1	[	[	X
cblr-13858	724	2	and	and	CCONJ
cblr-13858	724	3	]	]	PUNCT
cblr-13858	724	4	.	.	PUNCT
cblr-13858	724	5	.	.	PUNCT
cblr-13858	724	6	.	.	PUNCT
cblr-13858	725	1	notes	note	VERB
cblr-13858	725	2	evidencing	evidence	VERB
cblr-13858	725	3	loans	loan	NOUN
cblr-13858	725	4	by	by	ADP
cblr-13858	725	5	commercial	commercial	ADJ
cblr-13858	725	6	banks	bank	NOUN
cblr-13858	725	7	for	for	ADP
cblr-13858	725	8	current	current	ADJ
cblr-13858	725	9	operations	operation	NOUN
cblr-13858	725	10	.	.	PUNCT
cblr-13858	726	1	i	i	PRON
cblr-13858	726	2	d.	d.	PROPN
cblr-13858	726	3	at	at	ADP
cblr-13858	726	4	65	65	NUM
cblr-13858	726	5	.	.	PUNCT
cblr-13858	727	1	'	'	PUNCT
cblr-13858	727	2	6	6	NUM
cblr-13858	727	3	'	'	PUNCT
cblr-13858	727	4	i	i	PRON
cblr-13858	727	5	d.	d.	PROPN
cblr-13858	727	6	at	at	ADP
cblr-13858	727	7	67	67	NUM
cblr-13858	727	8	.	.	PUNCT
cblr-13858	727	9	168	168	NUM
cblr-13858	728	1	i	i	PRON
cblr-13858	728	2	d.	d.	PROPN
cblr-13858	728	3	at	at	ADP
cblr-13858	728	4	69	69	NUM
cblr-13858	728	5	.	.	PUNCT
cblr-13858	729	1	'	'	NUM
cblr-13858	729	2	69	69	NUM
cblr-13858	730	1	i	i	PRON
cblr-13858	730	2	d.	d.	PROPN
cblr-13858	730	3	at	at	ADP
cblr-13858	730	4	66	66	NUM
cblr-13858	730	5	.	.	PUNCT
cblr-13858	730	6	170	170	NUM
cblr-13858	731	1	i	i	PRON
cblr-13858	731	2	d.	d.	PROPN
cblr-13858	731	3	171	171	NUM
cblr-13858	732	1	i	i	PRON
cblr-13858	732	2	d.	d.	PROPN
cblr-13858	732	3	at	at	ADP
cblr-13858	732	4	68	68	NUM
cblr-13858	732	5	n.4	n.4	NOUN
cblr-13858	732	6	.	.	PUNCT
cblr-13858	733	1	no	no	INTJ
cblr-13858	733	2	.	.	PUNCT
cblr-13858	734	1	i:1	i:1	PROPN
cblr-13858	734	2	]	]	PUNCT
cblr-13858	734	3	37	37	NUM
cblr-13858	734	4	profit	profit	NOUN
cblr-13858	734	5	because	because	SCONJ
cblr-13858	734	6	no	no	DET
cblr-13858	734	7	profit	profit	NOUN
cblr-13858	734	8	is	be	AUX
cblr-13858	734	9	expected.1	expected.1	NUM
cblr-13858	734	10	72	72	NUM
cblr-13858	734	11	their	their	PRON
cblr-13858	734	12	motivations	motivation	NOUN
cblr-13858	734	13	are	be	AUX
cblr-13858	734	14	of	of	ADP
cblr-13858	734	15	a	a	DET
cblr-13858	734	16	more	more	ADV
cblr-13858	734	17	charitable	charitable	ADJ
cblr-13858	734	18	nature	nature	NOUN
cblr-13858	734	19	,	,	PUNCT
cblr-13858	734	20	which	which	PRON
cblr-13858	734	21	cuts	cut	VERB
cblr-13858	734	22	against	against	ADP
cblr-13858	734	23	security	security	NOUN
cblr-13858	734	24	status	status	NOUN
cblr-13858	734	25	.	.	PUNCT
cblr-13858	735	1	this	this	PRON
cblr-13858	735	2	alone	alone	ADV
cblr-13858	735	3	might	might	AUX
cblr-13858	735	4	be	be	AUX
cblr-13858	735	5	enough	enough	ADJ
cblr-13858	735	6	to	to	PART
cblr-13858	735	7	keep	keep	VERB
cblr-13858	735	8	the	the	DET
cblr-13858	735	9	loans	loan	NOUN
cblr-13858	735	10	on	on	ADP
cblr-13858	735	11	sites	site	NOUN
cblr-13858	735	12	like	like	ADP
cblr-13858	735	13	kiva	kiva	PROPN
cblr-13858	735	14	from	from	ADP
cblr-13858	735	15	being	be	AUX
cblr-13858	735	16	securities	security	NOUN
cblr-13858	735	17	.	.	PUNCT
cblr-13858	736	1	the	the	DET
cblr-13858	736	2	plan	plan	NOUN
cblr-13858	736	3	-	-	PUNCT
cblr-13858	736	4	of	of	ADP
cblr-13858	736	5	-	-	PUNCT
cblr-13858	736	6	distribution	distribution	NOUN
cblr-13858	736	7	factor	factor	NOUN
cblr-13858	736	8	also	also	ADV
cblr-13858	736	9	appears	appear	VERB
cblr-13858	736	10	to	to	PART
cblr-13858	736	11	point	point	VERB
cblr-13858	736	12	toward	toward	ADP
cblr-13858	736	13	securities	security	NOUN
cblr-13858	736	14	status	status	NOUN
cblr-13858	736	15	.	.	PUNCT
cblr-13858	737	1	some	some	PRON
cblr-13858	737	2	of	of	ADP
cblr-13858	737	3	the	the	DET
cblr-13858	737	4	crowdfunding	crowdfunding	NOUN
cblr-13858	737	5	sites	site	NOUN
cblr-13858	737	6	are	be	AUX
cblr-13858	737	7	tied	tie	VERB
cblr-13858	737	8	to	to	ADP
cblr-13858	737	9	trading	trading	NOUN
cblr-13858	737	10	markets	market	NOUN
cblr-13858	737	11	where	where	SCONJ
cblr-13858	737	12	investors	investor	NOUN
cblr-13858	737	13	buy	buy	VERB
cblr-13858	737	14	notes	note	NOUN
cblr-13858	737	15	from	from	ADP
cblr-13858	737	16	,	,	PUNCT
cblr-13858	737	17	or	or	CCONJ
cblr-13858	737	18	sell	sell	VERB
cblr-13858	737	19	them	they	PRON
cblr-13858	737	20	to	to	ADP
cblr-13858	737	21	,	,	PUNCT
cblr-13858	737	22	other	other	ADJ
cblr-13858	737	23	investors	investor	NOUN
cblr-13858	737	24	.	.	PUNCT
cblr-13858	738	1	notes	note	NOUN
cblr-13858	738	2	purchased	purchase	VERB
cblr-13858	738	3	on	on	ADP
cblr-13858	738	4	the	the	DET
cblr-13858	738	5	lending	lending	NOUN
cblr-13858	738	6	club	club	NOUN
cblr-13858	738	7	and	and	CCONJ
cblr-13858	738	8	prosper	prosper	NOUN
cblr-13858	738	9	sites	site	NOUN
cblr-13858	738	10	,	,	PUNCT
cblr-13858	738	11	for	for	ADP
cblr-13858	738	12	example	example	NOUN
cblr-13858	738	13	,	,	PUNCT
cblr-13858	738	14	may	may	AUX
cblr-13858	738	15	be	be	AUX
cblr-13858	738	16	traded	trade	VERB
cblr-13858	738	17	on	on	ADP
cblr-13858	738	18	a	a	DET
cblr-13858	738	19	platform	platform	NOUN
cblr-13858	738	20	maintained	maintain	VERB
cblr-13858	738	21	by	by	ADP
cblr-13858	738	22	foliofn	foliofn	ADJ
cblr-13858	738	23	investments	investment	NOUN
cblr-13858	738	24	,	,	PUNCT
cblr-13858	738	25	a	a	DET
cblr-13858	738	26	registered	register	VERB
cblr-13858	738	27	broker	broker	NOUN
cblr-13858	738	28	-	-	PUNCT
cblr-13858	738	29	dealer	dealer	NOUN
cblr-13858	738	30	.	.	PUNCT
cblr-13858	739	1	"1	"1	NOUN
cblr-13858	739	2	3	3	NUM
cblr-13858	739	3	but	but	CCONJ
cblr-13858	739	4	notes	note	NOUN
cblr-13858	739	5	can	can	AUX
cblr-13858	739	6	meet	meet	VERB
cblr-13858	739	7	the	the	DET
cblr-13858	739	8	plan	plan	NOUN
cblr-13858	739	9	-	-	PUNCT
cblr-13858	739	10	ofdistribution	ofdistribution	NOUN
cblr-13858	739	11	test	test	NOUN
cblr-13858	739	12	even	even	ADV
cblr-13858	739	13	if	if	SCONJ
cblr-13858	739	14	there	there	PRON
cblr-13858	739	15	is	be	VERB
cblr-13858	739	16	no	no	DET
cblr-13858	739	17	trading	trading	NOUN
cblr-13858	739	18	market	market	NOUN
cblr-13858	739	19	.	.	PUNCT
cblr-13858	740	1	after	after	ADP
cblr-13858	740	2	first	first	ADV
cblr-13858	740	3	indicating	indicate	VERB
cblr-13858	740	4	that	that	SCONJ
cblr-13858	740	5	the	the	DET
cblr-13858	740	6	plan	plan	NOUN
cblr-13858	740	7	-	-	PUNCT
cblr-13858	740	8	of	of	ADP
cblr-13858	740	9	-	-	PUNCT
cblr-13858	740	10	distribution	distribution	NOUN
cblr-13858	740	11	factor	factor	NOUN
cblr-13858	740	12	depends	depend	VERB
cblr-13858	740	13	on	on	ADP
cblr-13858	740	14	whether	whether	SCONJ
cblr-13858	740	15	"	"	PUNCT
cblr-13858	740	16	there	there	PRON
cblr-13858	740	17	is	be	VERB
cblr-13858	740	18	'	'	PUNCT
cblr-13858	740	19	common	common	ADJ
cblr-13858	740	20	trading	trading	NOUN
cblr-13858	740	21	for	for	ADP
cblr-13858	740	22	speculation	speculation	NOUN
cblr-13858	740	23	or	or	CCONJ
cblr-13858	740	24	investment,""74	investment,""74	NUM
cblr-13858	740	25	the	the	DET
cblr-13858	740	26	reves	ref	NOUN
cblr-13858	740	27	opinion	opinion	NOUN
cblr-13858	740	28	said	say	VERB
cblr-13858	740	29	that	that	SCONJ
cblr-13858	740	30	it	it	PRON
cblr-13858	740	31	was	be	AUX
cblr-13858	740	32	sufficient	sufficient	ADJ
cblr-13858	740	33	if	if	SCONJ
cblr-13858	740	34	the	the	DET
cblr-13858	740	35	notes	note	NOUN
cblr-13858	740	36	are	be	AUX
cblr-13858	740	37	"	"	PUNCT
cblr-13858	740	38	offered	offer	VERB
cblr-13858	740	39	and	and	CCONJ
cblr-13858	740	40	sold	sell	VERB
cblr-13858	740	41	to	to	ADP
cblr-13858	740	42	a	a	DET
cblr-13858	740	43	broad	broad	ADJ
cblr-13858	740	44	segment	segment	NOUN
cblr-13858	740	45	of	of	ADP
cblr-13858	740	46	the	the	DET
cblr-13858	740	47	public	public	NOUN
cblr-13858	740	48	,	,	PUNCT
cblr-13858	740	49	"	"	PUNCT
cblr-13858	740	50	even	even	ADV
cblr-13858	740	51	if	if	SCONJ
cblr-13858	740	52	,	,	PUNCT
cblr-13858	740	53	as	as	ADP
cblr-13858	740	54	in	in	ADP
cblr-13858	740	55	reves	ref	NOUN
cblr-13858	740	56	,	,	PUNCT
cblr-13858	740	57	there	there	PRON
cblr-13858	740	58	is	be	VERB
cblr-13858	740	59	no	no	DET
cblr-13858	740	60	market	market	NOUN
cblr-13858	740	61	to	to	PART
cblr-13858	740	62	trade	trade	VERB
cblr-13858	740	63	the	the	DET
cblr-13858	740	64	notes	note	NOUN
cblr-13858	740	65	.	.	PUNCT
cblr-13858	741	1	"	"	PUNCT
cblr-13858	741	2	'	'	PUNCT
cblr-13858	741	3	crowdfunding	crowdfunde	VERB
cblr-13858	741	4	lending	lending	NOUN
cblr-13858	741	5	sites	site	NOUN
cblr-13858	741	6	are	be	AUX
cblr-13858	741	7	open	open	ADJ
cblr-13858	741	8	to	to	ADP
cblr-13858	741	9	the	the	DET
cblr-13858	741	10	public	public	NOUN
cblr-13858	741	11	,	,	PUNCT
cblr-13858	741	12	and	and	CCONJ
cblr-13858	741	13	,	,	PUNCT
cblr-13858	741	14	by	by	ADP
cblr-13858	741	15	definition	definition	NOUN
cblr-13858	741	16	,	,	PUNCT
cblr-13858	741	17	crowdfunding	crowdfunding	NOUN
cblr-13858	741	18	involves	involve	VERB
cblr-13858	741	19	investments	investment	NOUN
cblr-13858	741	20	by	by	ADP
cblr-13858	741	21	a	a	DET
cblr-13858	741	22	number	number	NOUN
cblr-13858	741	23	of	of	ADP
cblr-13858	741	24	small	small	ADJ
cblr-13858	741	25	investors	investor	NOUN
cblr-13858	741	26	.	.	PUNCT
cblr-13858	742	1	the	the	DET
cblr-13858	742	2	number	number	NOUN
cblr-13858	742	3	of	of	ADP
cblr-13858	742	4	investors	investor	NOUN
cblr-13858	742	5	will	will	AUX
cblr-13858	742	6	not	not	PART
cblr-13858	742	7	always	always	ADV
cblr-13858	742	8	be	be	AUX
cblr-13858	742	9	as	as	ADV
cblr-13858	742	10	many	many	ADJ
cblr-13858	742	11	as	as	ADP
cblr-13858	742	12	the	the	DET
cblr-13858	742	13	1600	1600	NUM
cblr-13858	742	14	purchasers	purchaser	NOUN
cblr-13858	742	15	in	in	ADP
cblr-13858	742	16	reves,176	reves,176	NOUN
cblr-13858	743	1	but	but	CCONJ
cblr-13858	743	2	it	it	PRON
cblr-13858	743	3	will	will	AUX
cblr-13858	743	4	typically	typically	ADV
cblr-13858	743	5	be	be	AUX
cblr-13858	743	6	more	more	ADJ
cblr-13858	743	7	than	than	ADP
cblr-13858	743	8	a	a	DET
cblr-13858	743	9	few	few	ADJ
cblr-13858	743	10	.	.	PUNCT
cblr-13858	744	1	thus	thus	ADV
cblr-13858	744	2	,	,	PUNCT
cblr-13858	744	3	notes	note	NOUN
cblr-13858	744	4	sold	sell	VERB
cblr-13858	744	5	on	on	ADP
cblr-13858	744	6	crowdfunding	crowdfunde	VERB
cblr-13858	744	7	sites	site	NOUN
cblr-13858	744	8	could	could	AUX
cblr-13858	744	9	meet	meet	VERB
cblr-13858	744	10	this	this	DET
cblr-13858	744	11	part	part	NOUN
cblr-13858	744	12	of	of	ADP
cblr-13858	744	13	the	the	DET
cblr-13858	744	14	reves	ref	NOUN
cblr-13858	744	15	test	test	NOUN
cblr-13858	744	16	even	even	ADV
cblr-13858	744	17	if	if	SCONJ
cblr-13858	744	18	there	there	PRON
cblr-13858	744	19	is	be	VERB
cblr-13858	744	20	no	no	DET
cblr-13858	744	21	trading	trading	NOUN
cblr-13858	744	22	market	market	NOUN
cblr-13858	744	23	.	.	PUNCT
cblr-13858	745	1	the	the	DET
cblr-13858	745	2	final	final	ADJ
cblr-13858	745	3	factor	factor	NOUN
cblr-13858	745	4	to	to	PART
cblr-13858	745	5	consider	consider	VERB
cblr-13858	745	6	is	be	AUX
cblr-13858	745	7	the	the	DET
cblr-13858	745	8	investing	invest	VERB
cblr-13858	745	9	public	public	NOUN
cblr-13858	745	10	's	's	PART
cblr-13858	745	11	reasonable	reasonable	ADJ
cblr-13858	745	12	expectations	expectation	NOUN
cblr-13858	745	13	.	.	PUNCT
cblr-13858	746	1	reves	ref	NOUN
cblr-13858	746	2	said	say	VERB
cblr-13858	746	3	little	little	ADJ
cblr-13858	746	4	about	about	ADP
cblr-13858	746	5	this	this	DET
cblr-13858	746	6	factor	factor	NOUN
cblr-13858	746	7	,	,	PUNCT
cblr-13858	746	8	other	other	ADJ
cblr-13858	746	9	than	than	SCONJ
cblr-13858	746	10	to	to	PART
cblr-13858	746	11	indicate	indicate	VERB
cblr-13858	746	12	that	that	SCONJ
cblr-13858	746	13	notes	note	NOUN
cblr-13858	746	14	might	might	AUX
cblr-13858	746	15	be	be	AUX
cblr-13858	746	16	treated	treat	VERB
cblr-13858	746	17	as	as	ADP
cblr-13858	746	18	securities	security	NOUN
cblr-13858	746	19	on	on	ADP
cblr-13858	746	20	the	the	DET
cblr-13858	746	21	basis	basis	NOUN
cblr-13858	746	22	of	of	ADP
cblr-13858	746	23	such	such	ADJ
cblr-13858	746	24	public	public	ADJ
cblr-13858	746	25	perceptions	perception	NOUN
cblr-13858	746	26	,	,	PUNCT
cblr-13858	746	27	"	"	PUNCT
cblr-13858	746	28	even	even	ADV
cblr-13858	746	29	where	where	SCONJ
cblr-13858	746	30	an	an	DET
cblr-13858	746	31	economic	economic	ADJ
cblr-13858	746	32	analysis	analysis	NOUN
cblr-13858	746	33	of	of	ADP
cblr-13858	746	34	the	the	DET
cblr-13858	746	35	circumstances	circumstance	NOUN
cblr-13858	746	36	of	of	ADP
cblr-13858	746	37	the	the	DET
cblr-13858	746	38	particular	particular	ADJ
cblr-13858	746	39	transaction	transaction	NOUN
cblr-13858	746	40	"	"	PUNCT
cblr-13858	746	41	would	would	AUX
cblr-13858	746	42	suggest	suggest	VERB
cblr-13858	746	43	otherwise	otherwise	ADV
cblr-13858	746	44	.	.	PUNCT
cblr-13858	747	1	"	"	PUNCT
cblr-13858	747	2	'	'	PUNCT
cblr-13858	747	3	in	in	ADP
cblr-13858	747	4	applying	apply	VERB
cblr-13858	747	5	this	this	DET
cblr-13858	747	6	factor	factor	NOUN
cblr-13858	747	7	,	,	PUNCT
cblr-13858	747	8	the	the	DET
cblr-13858	747	9	reves	ref	NOUN
cblr-13858	747	10	court	court	NOUN
cblr-13858	747	11	observed	observe	VERB
cblr-13858	747	12	only	only	ADV
cblr-13858	747	13	that	that	SCONJ
cblr-13858	747	14	the	the	DET
cblr-13858	747	15	172	172	NUM
cblr-13858	747	16	see	see	NOUN
cblr-13858	747	17	verstein	verstein	NOUN
cblr-13858	747	18	,	,	PUNCT
cblr-13858	747	19	supra	supra	PROPN
cblr-13858	747	20	note	note	NOUN
cblr-13858	747	21	12	12	NUM
cblr-13858	747	22	(	(	PUNCT
cblr-13858	747	23	setting	set	VERB
cblr-13858	747	24	forth	forth	ADP
cblr-13858	747	25	a	a	DET
cblr-13858	747	26	similar	similar	ADJ
cblr-13858	747	27	analysis	analysis	NOUN
cblr-13858	747	28	)	)	PUNCT
cblr-13858	747	29	.	.	PUNCT
cblr-13858	748	1	"	"	PUNCT
cblr-13858	748	2	'	'	PUNCT
cblr-13858	748	3	see	see	VERB
cblr-13858	748	4	prosper	prosper	NOUN
cblr-13858	748	5	registration	registration	NOUN
cblr-13858	748	6	statement	statement	NOUN
cblr-13858	748	7	,	,	PUNCT
cblr-13858	748	8	supra	supra	PROPN
cblr-13858	748	9	note	note	PROPN
cblr-13858	748	10	81	81	NUM
cblr-13858	748	11	,	,	PUNCT
cblr-13858	748	12	at	at	ADP
cblr-13858	748	13	11	11	NUM
cblr-13858	748	14	;	;	PUNCT
cblr-13858	748	15	lending	lend	VERB
cblr-13858	748	16	club	club	NOUN
cblr-13858	748	17	registration	registration	NOUN
cblr-13858	748	18	statement	statement	NOUN
cblr-13858	748	19	,	,	PUNCT
cblr-13858	748	20	supra	supra	PROPN
cblr-13858	748	21	note	note	PROPN
cblr-13858	748	22	81	81	NUM
cblr-13858	748	23	,	,	PUNCT
cblr-13858	748	24	at	at	ADP
cblr-13858	748	25	11	11	NUM
cblr-13858	748	26	.	.	PUNCT
cblr-13858	749	1	"	"	PUNCT
cblr-13858	749	2	'	'	PUNCT
cblr-13858	749	3	reves	ref	NOUN
cblr-13858	749	4	,	,	PUNCT
cblr-13858	749	5	494	494	NUM
cblr-13858	749	6	u.s	u.s	PROPN
cblr-13858	749	7	.	.	PROPN
cblr-13858	749	8	at	at	ADP
cblr-13858	749	9	66	66	NUM
cblr-13858	749	10	(	(	PUNCT
cblr-13858	749	11	citing	cite	VERB
cblr-13858	749	12	sec	sec	PROPN
cblr-13858	749	13	v.	v.	PROPN
cblr-13858	749	14	c.m	c.m	PROPN
cblr-13858	749	15	.	.	PROPN
cblr-13858	749	16	joiner	joiner	PROPN
cblr-13858	749	17	leasing	leasing	PROPN
cblr-13858	749	18	corp	corp	PROPN
cblr-13858	749	19	.	.	PROPN
cblr-13858	749	20	,	,	PUNCT
cblr-13858	749	21	320	320	NUM
cblr-13858	749	22	u.s	u.s	PROPN
cblr-13858	749	23	.	.	PROPN
cblr-13858	749	24	344	344	NUM
cblr-13858	749	25	,	,	PUNCT
cblr-13858	749	26	351	351	NUM
cblr-13858	749	27	(	(	PUNCT
cblr-13858	749	28	1943	1943	NUM
cblr-13858	749	29	)	)	PUNCT
cblr-13858	749	30	)	)	PUNCT
cblr-13858	749	31	.	.	PUNCT
cblr-13858	750	1	15	15	NUM
cblr-13858	751	1	i	i	PRON
cblr-13858	751	2	d.	d.	NOUN
cblr-13858	751	3	at	at	ADP
cblr-13858	751	4	68	68	NUM
cblr-13858	751	5	.	.	PUNCT
cblr-13858	752	1	176	176	NUM
cblr-13858	753	1	i	i	PRON
cblr-13858	753	2	d.	d.	VERB
cblr-13858	753	3	at	at	ADP
cblr-13858	753	4	59	59	NUM
cblr-13858	753	5	.	.	PUNCT
cblr-13858	754	1	"	"	PUNCT
cblr-13858	754	2	1	1	NUM
cblr-13858	754	3	i	i	PRON
cblr-13858	754	4	d.	d.	NOUN
cblr-13858	754	5	at	at	ADP
cblr-13858	754	6	66	66	NUM
cblr-13858	754	7	.	.	PUNCT
cblr-13858	755	1	columbia	columbia	PROPN
cblr-13858	755	2	business	business	PROPN
cblr-13858	755	3	law	law	PROPN
cblr-13858	755	4	review	review	NOUN
cblr-13858	756	1	[	[	X
cblr-13858	756	2	vol	vol	NOUN
cblr-13858	756	3	.	.	PUNCT
cblr-13858	756	4	201238	201238	NUM
cblr-13858	756	5	crowdfunding	crowdfunding	NOUN
cblr-13858	756	6	and	and	CCONJ
cblr-13858	756	7	securities	security	NOUN
cblr-13858	756	8	laws	law	NOUN
cblr-13858	756	9	notes	note	NOUN
cblr-13858	756	10	were	be	AUX
cblr-13858	756	11	characterized	characterize	VERB
cblr-13858	756	12	as	as	ADP
cblr-13858	756	13	investments	investment	NOUN
cblr-13858	756	14	,	,	PUNCT
cblr-13858	756	15	and	and	CCONJ
cblr-13858	756	16	nothing	nothing	PRON
cblr-13858	756	17	"	"	PUNCT
cblr-13858	756	18	would	would	AUX
cblr-13858	756	19	have	have	AUX
cblr-13858	756	20	led	lead	VERB
cblr-13858	756	21	a	a	DET
cblr-13858	756	22	reasonable	reasonable	ADJ
cblr-13858	756	23	person	person	NOUN
cblr-13858	756	24	to	to	PART
cblr-13858	756	25	question	question	VERB
cblr-13858	756	26	this	this	DET
cblr-13858	756	27	characterization	characterization	NOUN
cblr-13858	756	28	.	.	PUNCT
cblr-13858	757	1	"	"	PUNCT
cblr-13858	757	2	"	"	PUNCT
cblr-13858	757	3	"	"	PUNCT
cblr-13858	757	4	the	the	DET
cblr-13858	757	5	question	question	NOUN
cblr-13858	757	6	,	,	PUNCT
cblr-13858	757	7	as	as	SCONJ
cblr-13858	757	8	analyzed	analyze	VERB
cblr-13858	757	9	in	in	ADP
cblr-13858	757	10	the	the	DET
cblr-13858	757	11	lower	low	ADJ
cblr-13858	757	12	courts	court	NOUN
cblr-13858	757	13	,	,	PUNCT
cblr-13858	757	14	seems	seem	VERB
cblr-13858	757	15	to	to	PART
cblr-13858	757	16	be	be	AUX
cblr-13858	757	17	"	"	PUNCT
cblr-13858	757	18	whether	whether	SCONJ
cblr-13858	757	19	a	a	DET
cblr-13858	757	20	reasonable	reasonable	ADJ
cblr-13858	757	21	member	member	NOUN
cblr-13858	757	22	of	of	ADP
cblr-13858	757	23	the	the	DET
cblr-13858	757	24	investing	investing	NOUN
cblr-13858	757	25	public	public	NOUN
cblr-13858	757	26	would	would	AUX
cblr-13858	757	27	consider	consider	VERB
cblr-13858	757	28	these	these	DET
cblr-13858	757	29	notes	note	NOUN
cblr-13858	757	30	as	as	ADP
cblr-13858	757	31	investments	investment	NOUN
cblr-13858	757	32	.	.	PUNCT
cblr-13858	758	1	"17	"17	NOUN
cblr-13858	758	2	9	9	NUM
cblr-13858	758	3	that	that	PRON
cblr-13858	758	4	,	,	PUNCT
cblr-13858	758	5	in	in	ADP
cblr-13858	758	6	turn	turn	NOUN
cblr-13858	758	7	,	,	PUNCT
cblr-13858	758	8	probably	probably	ADV
cblr-13858	758	9	depends	depend	VERB
cblr-13858	758	10	on	on	ADP
cblr-13858	758	11	whether	whether	SCONJ
cblr-13858	758	12	interest	interest	NOUN
cblr-13858	758	13	is	be	AUX
cblr-13858	758	14	offered	offer	VERB
cblr-13858	758	15	and	and	CCONJ
cblr-13858	758	16	on	on	ADP
cblr-13858	758	17	whether	whether	SCONJ
cblr-13858	758	18	or	or	CCONJ
cblr-13858	758	19	not	not	PART
cblr-13858	758	20	the	the	DET
cblr-13858	758	21	note	note	NOUN
cblr-13858	758	22	is	be	AUX
cblr-13858	758	23	presented	present	VERB
cblr-13858	758	24	to	to	ADP
cblr-13858	758	25	investors	investor	NOUN
cblr-13858	758	26	as	as	ADP
cblr-13858	758	27	an	an	DET
cblr-13858	758	28	investment.8	investment.8	PROPN
cblr-13858	758	29	0	0	PUNCT
cblr-13858	758	30	if	if	SCONJ
cblr-13858	758	31	purchasers	purchaser	NOUN
cblr-13858	758	32	are	be	AUX
cblr-13858	758	33	buying	buy	VERB
cblr-13858	758	34	the	the	DET
cblr-13858	758	35	notes	note	NOUN
cblr-13858	758	36	for	for	ADP
cblr-13858	758	37	the	the	DET
cblr-13858	758	38	interest	interest	NOUN
cblr-13858	758	39	they	they	PRON
cblr-13858	758	40	promise	promise	VERB
cblr-13858	758	41	,	,	PUNCT
cblr-13858	758	42	they	they	PRON
cblr-13858	758	43	appear	appear	VERB
cblr-13858	758	44	to	to	PART
cblr-13858	758	45	be	be	AUX
cblr-13858	758	46	investments	investment	NOUN
cblr-13858	758	47	,	,	PUNCT
cblr-13858	758	48	no	no	ADV
cblr-13858	758	49	matter	matter	ADV
cblr-13858	758	50	how	how	SCONJ
cblr-13858	758	51	the	the	DET
cblr-13858	758	52	crowdfunding	crowdfunding	NOUN
cblr-13858	758	53	site	site	NOUN
cblr-13858	758	54	characterizes	characterize	VERB
cblr-13858	758	55	them	they	PRON
cblr-13858	758	56	.	.	PUNCT
cblr-13858	759	1	"	"	PUNCT
cblr-13858	759	2	'	'	PUNCT
cblr-13858	759	3	sites	site	NOUN
cblr-13858	759	4	like	like	ADP
cblr-13858	759	5	kiva	kiva	PROPN
cblr-13858	759	6	that	that	PRON
cblr-13858	759	7	offer	offer	VERB
cblr-13858	759	8	no	no	DET
cblr-13858	759	9	interest	interest	NOUN
cblr-13858	759	10	are	be	AUX
cblr-13858	759	11	less	less	ADV
cblr-13858	759	12	likely	likely	ADJ
cblr-13858	759	13	to	to	PART
cblr-13858	759	14	meet	meet	VERB
cblr-13858	759	15	this	this	DET
cblr-13858	759	16	factor	factor	NOUN
cblr-13858	759	17	.	.	PUNCT
cblr-13858	759	18	'	'	PUNCT
cblr-13858	760	1	as	as	SCONJ
cblr-13858	760	2	indicated	indicate	VERB
cblr-13858	760	3	earlier,'8	earlier,'8	ADJ
cblr-13858	760	4	3	3	NUM
cblr-13858	760	5	lending	lending	NOUN
cblr-13858	760	6	club	club	NOUN
cblr-13858	760	7	and	and	CCONJ
cblr-13858	760	8	prosper	prosper	NOUN
cblr-13858	760	9	have	have	AUX
cblr-13858	760	10	changed	change	VERB
cblr-13858	760	11	their	their	PRON
cblr-13858	760	12	business	business	NOUN
cblr-13858	760	13	models	model	NOUN
cblr-13858	760	14	since	since	SCONJ
cblr-13858	760	15	their	their	PRON
cblr-13858	760	16	inception	inception	NOUN
cblr-13858	760	17	.	.	PUNCT
cblr-13858	761	1	originally	originally	ADV
cblr-13858	761	2	,	,	PUNCT
cblr-13858	761	3	lenders	lender	NOUN
cblr-13858	761	4	on	on	ADP
cblr-13858	761	5	those	those	DET
cblr-13858	761	6	sites	site	NOUN
cblr-13858	761	7	made	make	VERB
cblr-13858	761	8	loans	loan	NOUN
cblr-13858	761	9	directly	directly	ADV
cblr-13858	761	10	to	to	ADP
cblr-13858	761	11	the	the	DET
cblr-13858	761	12	underlying	underlie	VERB
cblr-13858	761	13	borrowers	borrower	NOUN
cblr-13858	761	14	and	and	CCONJ
cblr-13858	761	15	received	receive	VERB
cblr-13858	761	16	notes	note	NOUN
cblr-13858	761	17	from	from	ADP
cblr-13858	761	18	those	those	DET
cblr-13858	761	19	borrowers	borrower	NOUN
cblr-13858	761	20	in	in	ADP
cblr-13858	761	21	return	return	NOUN
cblr-13858	761	22	.	.	PUNCT
cblr-13858	762	1	now	now	ADV
cblr-13858	762	2	,	,	PUNCT
cblr-13858	762	3	lending	lending	NOUN
cblr-13858	762	4	club	club	NOUN
cblr-13858	762	5	and	and	CCONJ
cblr-13858	762	6	prosper	prosper	VERB
cblr-13858	762	7	issue	issue	VERB
cblr-13858	762	8	their	their	PRON
cblr-13858	762	9	own	own	ADJ
cblr-13858	762	10	notes	note	NOUN
cblr-13858	762	11	to	to	ADP
cblr-13858	762	12	lenders	lender	NOUN
cblr-13858	762	13	,	,	PUNCT
cblr-13858	762	14	and	and	CCONJ
cblr-13858	762	15	lenders	lender	NOUN
cblr-13858	762	16	are	be	AUX
cblr-13858	762	17	not	not	PART
cblr-13858	762	18	directly	directly	ADV
cblr-13858	762	19	lending	lend	VERB
cblr-13858	762	20	to	to	ADP
cblr-13858	762	21	the	the	DET
cblr-13858	762	22	underlying	underlie	VERB
cblr-13858	762	23	borrowers	borrower	NOUN
cblr-13858	762	24	.	.	PUNCT
cblr-13858	763	1	as	as	ADV
cblr-13858	763	2	far	far	ADV
cblr-13858	763	3	as	as	SCONJ
cblr-13858	763	4	the	the	DET
cblr-13858	763	5	definitions	definition	NOUN
cblr-13858	763	6	of	of	ADP
cblr-13858	763	7	"	"	PUNCT
cblr-13858	763	8	investment	investment	NOUN
cblr-13858	763	9	contract	contract	NOUN
cblr-13858	763	10	"	"	PUNCT
cblr-13858	763	11	and	and	CCONJ
cblr-13858	763	12	"	"	PUNCT
cblr-13858	763	13	note	note	NOUN
cblr-13858	763	14	"	"	PUNCT
cblr-13858	763	15	are	be	AUX
cblr-13858	763	16	17	17	NUM
cblr-13858	764	1	i	i	PRON
cblr-13858	764	2	d.	d.	PROPN
cblr-13858	764	3	at	at	ADP
cblr-13858	764	4	69	69	NUM
cblr-13858	764	5	.	.	PUNCT
cblr-13858	765	1	see	see	VERB
cblr-13858	765	2	also	also	ADV
cblr-13858	765	3	stoiber	stoiber	PROPN
cblr-13858	765	4	v.	v.	PROPN
cblr-13858	765	5	sec	sec	PROPN
cblr-13858	765	6	,	,	PUNCT
cblr-13858	765	7	161	161	NUM
cblr-13858	765	8	f.3d	f.3d	NUM
cblr-13858	765	9	745	745	NUM
cblr-13858	765	10	,	,	PUNCT
cblr-13858	765	11	751	751	NUM
cblr-13858	765	12	(	(	PUNCT
cblr-13858	765	13	d.c	d.c	PROPN
cblr-13858	765	14	.	.	PROPN
cblr-13858	765	15	cir	cir	PROPN
cblr-13858	765	16	.	.	PROPN
cblr-13858	766	1	1998	1998	NUM
cblr-13858	766	2	)	)	PUNCT
cblr-13858	767	1	(	(	PUNCT
cblr-13858	767	2	describing	describe	VERB
cblr-13858	767	3	this	this	DET
cblr-13858	767	4	factor	factor	NOUN
cblr-13858	767	5	as	as	ADP
cblr-13858	767	6	a	a	DET
cblr-13858	767	7	"	"	PUNCT
cblr-13858	767	8	one	one	NUM
cblr-13858	767	9	-	-	PUNCT
cblr-13858	767	10	way	way	NOUN
cblr-13858	767	11	ratchet	ratchet	NOUN
cblr-13858	767	12	"	"	PUNCT
cblr-13858	767	13	that	that	PRON
cblr-13858	767	14	does	do	AUX
cblr-13858	767	15	not	not	PART
cblr-13858	767	16	allow	allow	VERB
cblr-13858	767	17	notes	note	NOUN
cblr-13858	767	18	that	that	PRON
cblr-13858	767	19	are	be	AUX
cblr-13858	767	20	securities	security	NOUN
cblr-13858	767	21	under	under	ADP
cblr-13858	767	22	the	the	DET
cblr-13858	767	23	other	other	ADJ
cblr-13858	767	24	factors	factor	NOUN
cblr-13858	767	25	to	to	PART
cblr-13858	767	26	escape	escape	VERB
cblr-13858	767	27	the	the	DET
cblr-13858	767	28	securities	security	NOUN
cblr-13858	767	29	laws	law	NOUN
cblr-13858	767	30	)	)	PUNCT
cblr-13858	767	31	.	.	PUNCT
cblr-13858	768	1	179	179	NUM
cblr-13858	768	2	mcnabb	mcnabb	PROPN
cblr-13858	768	3	v.	v.	PROPN
cblr-13858	768	4	sec	sec	PROPN
cblr-13858	768	5	,	,	PUNCT
cblr-13858	768	6	298	298	NUM
cblr-13858	768	7	f.3d	f.3d	NUM
cblr-13858	768	8	1126	1126	NUM
cblr-13858	768	9	,	,	PUNCT
cblr-13858	768	10	1132	1132	NUM
cblr-13858	768	11	(	(	PUNCT
cblr-13858	768	12	9th	9th	ADJ
cblr-13858	768	13	cir	cir	NOUN
cblr-13858	768	14	.	.	PUNCT
cblr-13858	768	15	2002	2002	NUM
cblr-13858	768	16	)	)	PUNCT
cblr-13858	768	17	;	;	PUNCT
cblr-13858	768	18	accord	accord	NOUN
cblr-13858	768	19	sec	sec	PROPN
cblr-13858	768	20	v.	v.	ADP
cblr-13858	768	21	wallenbrock	wallenbrock	NOUN
cblr-13858	768	22	,	,	PUNCT
cblr-13858	768	23	313	313	NUM
cblr-13858	768	24	f.3d	f.3d	NUM
cblr-13858	768	25	532	532	NUM
cblr-13858	768	26	,	,	PUNCT
cblr-13858	768	27	539	539	NUM
cblr-13858	768	28	(	(	PUNCT
cblr-13858	768	29	9th	9th	ADJ
cblr-13858	768	30	cir	cir	NOUN
cblr-13858	768	31	.	.	PUNCT
cblr-13858	768	32	2002	2002	NUM
cblr-13858	768	33	)	)	PUNCT
cblr-13858	768	34	;	;	PUNCT
cblr-13858	768	35	stoiber	stoiber	NOUN
cblr-13858	768	36	,	,	PUNCT
cblr-13858	768	37	161	161	NUM
cblr-13858	768	38	f.3d	f.3d	NUM
cblr-13858	768	39	at	at	ADP
cblr-13858	768	40	751	751	NUM
cblr-13858	768	41	.	.	PUNCT
cblr-13858	768	42	180	180	NUM
cblr-13858	768	43	stoiber	stoiber	NOUN
cblr-13858	768	44	,	,	PUNCT
cblr-13858	768	45	161	161	NUM
cblr-13858	768	46	f.3d	f.3d	NUM
cblr-13858	768	47	at	at	ADP
cblr-13858	768	48	751	751	NUM
cblr-13858	768	49	(	(	PUNCT
cblr-13858	768	50	"	"	PUNCT
cblr-13858	768	51	when	when	SCONJ
cblr-13858	768	52	a	a	DET
cblr-13858	768	53	note	note	NOUN
cblr-13858	768	54	seller	seller	NOUN
cblr-13858	768	55	calls	call	VERB
cblr-13858	768	56	a	a	DET
cblr-13858	768	57	note	note	NOUN
cblr-13858	768	58	an	an	DET
cblr-13858	768	59	investment	investment	NOUN
cblr-13858	768	60	,	,	PUNCT
cblr-13858	768	61	in	in	ADP
cblr-13858	768	62	the	the	DET
cblr-13858	768	63	absence	absence	NOUN
cblr-13858	768	64	of	of	ADP
cblr-13858	768	65	contrary	contrary	ADJ
cblr-13858	768	66	indications	indication	NOUN
cblr-13858	768	67	it	it	PRON
cblr-13858	768	68	would	would	AUX
cblr-13858	768	69	be	be	AUX
cblr-13858	768	70	reasonable	reasonable	ADJ
cblr-13858	768	71	for	for	ADP
cblr-13858	768	72	a	a	DET
cblr-13858	768	73	prospective	prospective	ADJ
cblr-13858	768	74	purchaser	purchaser	NOUN
cblr-13858	768	75	to	to	PART
cblr-13858	768	76	take	take	VERB
cblr-13858	768	77	the	the	DET
cblr-13858	768	78	[	[	X
cblr-13858	768	79	offeror	offeror	NOUN
cblr-13858	768	80	]	]	PUNCT
cblr-13858	768	81	at	at	ADP
cblr-13858	768	82	its	its	PRON
cblr-13858	768	83	word	word	NOUN
cblr-13858	768	84	.	.	PUNCT
cblr-13858	768	85	.	.	PUNCT
cblr-13858	768	86	.	.	PUNCT
cblr-13858	768	87	.	.	PUNCT
cblr-13858	769	1	conversely	conversely	ADV
cblr-13858	769	2	,	,	PUNCT
cblr-13858	769	3	when	when	SCONJ
cblr-13858	769	4	note	note	NOUN
cblr-13858	769	5	purchasers	purchaser	NOUN
cblr-13858	769	6	are	be	AUX
cblr-13858	769	7	expressly	expressly	ADV
cblr-13858	769	8	put	put	VERB
cblr-13858	769	9	on	on	ADP
cblr-13858	769	10	notice	notice	NOUN
cblr-13858	769	11	that	that	SCONJ
cblr-13858	769	12	a	a	DET
cblr-13858	769	13	note	note	NOUN
cblr-13858	769	14	is	be	AUX
cblr-13858	769	15	not	not	PART
cblr-13858	769	16	an	an	DET
cblr-13858	769	17	investment	investment	NOUN
cblr-13858	769	18	,	,	PUNCT
cblr-13858	769	19	it	it	PRON
cblr-13858	769	20	is	be	AUX
cblr-13858	769	21	usually	usually	ADV
cblr-13858	769	22	reasonable	reasonable	ADJ
cblr-13858	769	23	to	to	PART
cblr-13858	769	24	conclude	conclude	VERB
cblr-13858	769	25	that	that	SCONJ
cblr-13858	769	26	the	the	DET
cblr-13858	769	27	'	'	PUNCT
cblr-13858	769	28	investing	invest	VERB
cblr-13858	769	29	public	public	NOUN
cblr-13858	769	30	'	'	PUNCT
cblr-13858	769	31	would	would	AUX
cblr-13858	769	32	not	not	PART
cblr-13858	769	33	expect	expect	VERB
cblr-13858	769	34	the	the	DET
cblr-13858	769	35	notes	note	NOUN
cblr-13858	769	36	to	to	PART
cblr-13858	769	37	be	be	AUX
cblr-13858	769	38	securities	security	NOUN
cblr-13858	769	39	.	.	PUNCT
cblr-13858	769	40	"	"	PUNCT
cblr-13858	769	41	)	)	PUNCT
cblr-13858	770	1	(	(	PUNCT
cblr-13858	770	2	quotations	quotation	NOUN
cblr-13858	770	3	omitted	omit	VERB
cblr-13858	770	4	)	)	PUNCT
cblr-13858	770	5	.	.	PUNCT
cblr-13858	771	1	but	but	CCONJ
cblr-13858	771	2	see	see	VERB
cblr-13858	771	3	wallenbrock	wallenbrock	NOUN
cblr-13858	771	4	,	,	PUNCT
cblr-13858	771	5	313	313	NUM
cblr-13858	771	6	f.3d	f.3d	NUM
cblr-13858	771	7	at	at	ADP
cblr-13858	771	8	539	539	NUM
cblr-13858	771	9	(	(	PUNCT
cblr-13858	771	10	noting	note	VERB
cblr-13858	771	11	that	that	SCONJ
cblr-13858	771	12	the	the	DET
cblr-13858	771	13	failure	failure	NOUN
cblr-13858	771	14	of	of	ADP
cblr-13858	771	15	the	the	DET
cblr-13858	771	16	promoter	promoter	NOUN
cblr-13858	771	17	to	to	PART
cblr-13858	771	18	"	"	PUNCT
cblr-13858	771	19	use	use	VERB
cblr-13858	771	20	the	the	DET
cblr-13858	771	21	term	term	NOUN
cblr-13858	771	22	'	'	PUNCT
cblr-13858	771	23	investment	investment	NOUN
cblr-13858	771	24	'	'	PUNCT
cblr-13858	771	25	to	to	PART
cblr-13858	771	26	describe	describe	VERB
cblr-13858	771	27	the	the	DET
cblr-13858	771	28	notes	note	NOUN
cblr-13858	771	29	is	be	AUX
cblr-13858	771	30	of	of	ADP
cblr-13858	771	31	little	little	ADJ
cblr-13858	771	32	import	import	NOUN
cblr-13858	771	33	,	,	PUNCT
cblr-13858	771	34	given	give	VERB
cblr-13858	771	35	the	the	DET
cblr-13858	771	36	nature	nature	NOUN
cblr-13858	771	37	of	of	ADP
cblr-13858	771	38	the	the	DET
cblr-13858	771	39	transactions	transaction	NOUN
cblr-13858	771	40	"	"	PUNCT
cblr-13858	771	41	)	)	PUNCT
cblr-13858	771	42	.	.	PUNCT
cblr-13858	772	1	...	...	PUNCT
cblr-13858	772	2	see	see	VERB
cblr-13858	772	3	wallenbrock	wallenbrock	NOUN
cblr-13858	772	4	,	,	PUNCT
cblr-13858	772	5	313	313	NUM
cblr-13858	772	6	f.3d	f.3d	NUM
cblr-13858	772	7	at	at	ADP
cblr-13858	772	8	539	539	NUM
cblr-13858	772	9	(	(	PUNCT
cblr-13858	772	10	noting	note	VERB
cblr-13858	772	11	that	that	SCONJ
cblr-13858	772	12	the	the	DET
cblr-13858	772	13	reasonable	reasonable	ADJ
cblr-13858	772	14	expectations	expectation	NOUN
cblr-13858	772	15	factor	factor	NOUN
cblr-13858	772	16	is	be	AUX
cblr-13858	772	17	closely	closely	ADV
cblr-13858	772	18	related	relate	VERB
cblr-13858	772	19	to	to	ADP
cblr-13858	772	20	the	the	DET
cblr-13858	772	21	motivations	motivation	NOUN
cblr-13858	772	22	factor	factor	NOUN
cblr-13858	772	23	and	and	CCONJ
cblr-13858	772	24	that	that	SCONJ
cblr-13858	772	25	the	the	DET
cblr-13858	772	26	failure	failure	NOUN
cblr-13858	772	27	to	to	PART
cblr-13858	772	28	describe	describe	VERB
cblr-13858	772	29	the	the	DET
cblr-13858	772	30	notes	note	NOUN
cblr-13858	772	31	as	as	SCONJ
cblr-13858	772	32	investments	investment	NOUN
cblr-13858	772	33	is	be	AUX
cblr-13858	772	34	"	"	PUNCT
cblr-13858	772	35	of	of	ADP
cblr-13858	772	36	little	little	ADJ
cblr-13858	772	37	import	import	NOUN
cblr-13858	772	38	"	"	PUNCT
cblr-13858	772	39	)	)	PUNCT
cblr-13858	772	40	.	.	PUNCT
cblr-13858	773	1	182	182	NUM
cblr-13858	773	2	see	see	VERB
cblr-13858	773	3	verstein	verstein	NOUN
cblr-13858	773	4	,	,	PUNCT
cblr-13858	773	5	supra	supra	PROPN
cblr-13858	773	6	note	note	NOUN
cblr-13858	773	7	12	12	NUM
cblr-13858	773	8	(	(	PUNCT
cblr-13858	773	9	setting	set	VERB
cblr-13858	773	10	forth	forth	ADP
cblr-13858	773	11	a	a	DET
cblr-13858	773	12	similar	similar	ADJ
cblr-13858	773	13	analysis	analysis	NOUN
cblr-13858	773	14	)	)	PUNCT
cblr-13858	773	15	.	.	PUNCT
cblr-13858	774	1	"	"	PUNCT
cblr-13858	774	2	o	o	INTJ
cblr-13858	774	3	see	see	VERB
cblr-13858	774	4	supra	supra	PROPN
cblr-13858	774	5	text	text	NOUN
cblr-13858	774	6	accompanying	accompanying	ADJ
cblr-13858	774	7	notes	note	NOUN
cblr-13858	774	8	87	87	NUM
cblr-13858	774	9	-	-	SYM
cblr-13858	774	10	92	92	NUM
cblr-13858	774	11	.	.	PUNCT
cblr-13858	775	1	no	no	INTJ
cblr-13858	775	2	.	.	NOUN
cblr-13858	776	1	1	1	NUM
cblr-13858	776	2	:	:	SYM
cblr-13858	776	3	1	1	NUM
cblr-13858	776	4	]	]	SYM
cblr-13858	776	5	39	39	NUM
cblr-13858	776	6	concerned	concerned	ADJ
cblr-13858	776	7	,	,	PUNCT
cblr-13858	776	8	this	this	DET
cblr-13858	776	9	difference	difference	NOUN
cblr-13858	776	10	is	be	AUX
cblr-13858	776	11	irrelevant	irrelevant	ADJ
cblr-13858	776	12	.	.	PUNCT
cblr-13858	776	13	'8	'8	PROPN
cblr-13858	776	14	4	4	NUM
cblr-13858	776	15	nothing	nothing	PRON
cblr-13858	776	16	in	in	ADP
cblr-13858	776	17	the	the	DET
cblr-13858	776	18	analysis	analysis	NOUN
cblr-13858	776	19	above	above	ADV
cblr-13858	776	20	depends	depend	VERB
cblr-13858	776	21	on	on	ADP
cblr-13858	776	22	who	who	PRON
cblr-13858	776	23	the	the	DET
cblr-13858	776	24	issuer	issuer	NOUN
cblr-13858	776	25	is	be	AUX
cblr-13858	776	26	.	.	PUNCT
cblr-13858	776	27	'	'	PUNCT
cblr-13858	777	1	5	5	NUM
cblr-13858	777	2	the	the	DET
cblr-13858	777	3	sec	sec	PROPN
cblr-13858	777	4	certainly	certainly	ADV
cblr-13858	777	5	believes	believe	VERB
cblr-13858	777	6	that	that	SCONJ
cblr-13858	777	7	interest	interest	NOUN
cblr-13858	777	8	-	-	PUNCT
cblr-13858	777	9	bearing	bear	VERB
cblr-13858	777	10	crowdfunding	crowdfunding	NOUN
cblr-13858	777	11	notes	note	NOUN
cblr-13858	777	12	are	be	AUX
cblr-13858	777	13	securities	security	NOUN
cblr-13858	777	14	.	.	PUNCT
cblr-13858	778	1	it	it	PRON
cblr-13858	778	2	has	have	AUX
cblr-13858	778	3	forced	force	VERB
cblr-13858	778	4	both	both	DET
cblr-13858	778	5	lending	lending	NOUN
cblr-13858	778	6	club	club	NOUN
cblr-13858	778	7	and	and	CCONJ
cblr-13858	778	8	prosper	prosper	VERB
cblr-13858	778	9	to	to	PART
cblr-13858	778	10	register	register	VERB
cblr-13858	778	11	the	the	DET
cblr-13858	778	12	notes	note	NOUN
cblr-13858	778	13	they	they	PRON
cblr-13858	778	14	offer.18	offer.18	VERB
cblr-13858	778	15	6	6	NUM
cblr-13858	778	16	prior	prior	ADV
cblr-13858	778	17	to	to	ADP
cblr-13858	778	18	that	that	DET
cblr-13858	778	19	registration	registration	NOUN
cblr-13858	778	20	,	,	PUNCT
cblr-13858	778	21	the	the	DET
cblr-13858	778	22	sec	sec	PROPN
cblr-13858	778	23	entered	enter	VERB
cblr-13858	778	24	a	a	DET
cblr-13858	778	25	consent	consent	NOUN
cblr-13858	778	26	ceaseand	ceaseand	NOUN
cblr-13858	778	27	-	-	PUNCT
cblr-13858	778	28	desist	desist	VERB
cblr-13858	778	29	order	order	NOUN
cblr-13858	778	30	against	against	ADP
cblr-13858	778	31	prosper	prosper	NOUN
cblr-13858	778	32	,	,	PUNCT
cblr-13858	778	33	finding	find	VERB
cblr-13858	778	34	that	that	DET
cblr-13858	778	35	prosper	prosper	NOUN
cblr-13858	778	36	was	be	AUX
cblr-13858	778	37	improperly	improperly	ADV
cblr-13858	778	38	selling	sell	VERB
cblr-13858	778	39	securities	security	NOUN
cblr-13858	778	40	without	without	ADP
cblr-13858	778	41	registration	registration	NOUN
cblr-13858	778	42	.	.	PUNCT
cblr-13858	779	1	"	"	PUNCT
cblr-13858	779	2	'	'	PUNCT
cblr-13858	779	3	both	both	DET
cblr-13858	779	4	companies	company	NOUN
cblr-13858	779	5	'	'	PART
cblr-13858	779	6	registration	registration	NOUN
cblr-13858	779	7	statements	statement	NOUN
cblr-13858	779	8	indicate	indicate	VERB
cblr-13858	779	9	that	that	SCONJ
cblr-13858	779	10	it	it	PRON
cblr-13858	779	11	is	be	AUX
cblr-13858	779	12	"	"	PUNCT
cblr-13858	779	13	reasonably	reasonably	ADV
cblr-13858	779	14	possible	possible	ADJ
cblr-13858	779	15	"	"	PUNCT
cblr-13858	779	16	that	that	SCONJ
cblr-13858	779	17	the	the	DET
cblr-13858	779	18	sites	site	NOUN
cblr-13858	779	19	will	will	AUX
cblr-13858	779	20	be	be	AUX
cblr-13858	779	21	liable	liable	ADJ
cblr-13858	779	22	to	to	ADP
cblr-13858	779	23	lenders	lender	NOUN
cblr-13858	779	24	for	for	ADP
cblr-13858	779	25	securities	security	NOUN
cblr-13858	779	26	sold	sell	VERB
cblr-13858	779	27	prior	prior	ADV
cblr-13858	779	28	to	to	ADP
cblr-13858	779	29	registration	registration	NOUN
cblr-13858	779	30	,	,	PUNCT
cblr-13858	779	31	'	'	PUNCT
cblr-13858	779	32	and	and	CCONJ
cblr-13858	779	33	prosper	prosper	NOUN
cblr-13858	779	34	is	be	AUX
cblr-13858	779	35	currently	currently	ADV
cblr-13858	779	36	fighting	fight	VERB
cblr-13858	779	37	a	a	DET
cblr-13858	779	38	class	class	NOUN
cblr-13858	779	39	action	action	NOUN
cblr-13858	779	40	lawsuit	lawsuit	NOUN
cblr-13858	779	41	brought	bring	VERB
cblr-13858	779	42	by	by	ADP
cblr-13858	779	43	preregistration	preregistration	NOUN
cblr-13858	779	44	lenders	lender	NOUN
cblr-13858	779	45	.	.	PUNCT
cblr-13858	780	1	"	"	PUNCT
cblr-13858	780	2	'	'	PUNCT
cblr-13858	780	3	m	m	AUX
cblr-13858	780	4	see	see	VERB
cblr-13858	780	5	prosper	prosper	NOUN
cblr-13858	780	6	marketplace	marketplace	NOUN
cblr-13858	780	7	,	,	PUNCT
cblr-13858	780	8	inc	inc	PROPN
cblr-13858	780	9	.	.	PROPN
cblr-13858	780	10	,	,	PUNCT
cblr-13858	780	11	supra	supra	PROPN
cblr-13858	780	12	note	note	PROPN
cblr-13858	780	13	86	86	NUM
cblr-13858	780	14	(	(	PUNCT
cblr-13858	780	15	taking	take	VERB
cblr-13858	780	16	the	the	DET
cblr-13858	780	17	position	position	NOUN
cblr-13858	780	18	that	that	SCONJ
cblr-13858	780	19	the	the	DET
cblr-13858	780	20	notes	note	NOUN
cblr-13858	780	21	offered	offer	VERB
cblr-13858	780	22	by	by	ADP
cblr-13858	780	23	prosper	prosper	NOUN
cblr-13858	780	24	,	,	PUNCT
cblr-13858	780	25	under	under	ADP
cblr-13858	780	26	its	its	PRON
cblr-13858	780	27	original	original	ADJ
cblr-13858	780	28	model	model	NOUN
cblr-13858	780	29	,	,	PUNCT
cblr-13858	780	30	were	be	AUX
cblr-13858	780	31	securities	security	NOUN
cblr-13858	780	32	)	)	PUNCT
cblr-13858	780	33	.	.	PUNCT
cblr-13858	781	1	18	18	NUM
cblr-13858	781	2	the	the	DET
cblr-13858	781	3	identity	identity	NOUN
cblr-13858	781	4	of	of	ADP
cblr-13858	781	5	the	the	DET
cblr-13858	781	6	issuer	issuer	NOUN
cblr-13858	781	7	might	might	AUX
cblr-13858	781	8	matter	matter	VERB
cblr-13858	781	9	for	for	ADP
cblr-13858	781	10	purposes	purpose	NOUN
cblr-13858	781	11	of	of	ADP
cblr-13858	781	12	registration	registration	NOUN
cblr-13858	781	13	.	.	PUNCT
cblr-13858	782	1	if	if	SCONJ
cblr-13858	782	2	lending	lending	NOUN
cblr-13858	782	3	club	club	NOUN
cblr-13858	782	4	and	and	CCONJ
cblr-13858	782	5	prosper	prosper	NOUN
cblr-13858	782	6	have	have	VERB
cblr-13858	782	7	no	no	DET
cblr-13858	782	8	obligation	obligation	NOUN
cblr-13858	782	9	on	on	ADP
cblr-13858	782	10	the	the	DET
cblr-13858	782	11	notes	note	NOUN
cblr-13858	782	12	they	they	PRON
cblr-13858	782	13	issue	issue	VERB
cblr-13858	782	14	and	and	CCONJ
cblr-13858	782	15	payment	payment	NOUN
cblr-13858	782	16	depends	depend	VERB
cblr-13858	782	17	entirely	entirely	ADV
cblr-13858	782	18	on	on	ADP
cblr-13858	782	19	the	the	DET
cblr-13858	782	20	success	success	NOUN
cblr-13858	782	21	of	of	ADP
cblr-13858	782	22	the	the	DET
cblr-13858	782	23	underlying	underlie	VERB
cblr-13858	782	24	borrower	borrower	NOUN
cblr-13858	782	25	,	,	PUNCT
cblr-13858	782	26	should	should	AUX
cblr-13858	782	27	the	the	DET
cblr-13858	782	28	sites	site	NOUN
cblr-13858	782	29	really	really	ADV
cblr-13858	782	30	be	be	AUX
cblr-13858	782	31	considered	consider	VERB
cblr-13858	782	32	the	the	DET
cblr-13858	782	33	issuers	issuer	NOUN
cblr-13858	782	34	for	for	ADP
cblr-13858	782	35	purposes	purpose	NOUN
cblr-13858	782	36	of	of	ADP
cblr-13858	782	37	registration	registration	NOUN
cblr-13858	782	38	and	and	CCONJ
cblr-13858	782	39	the	the	DET
cblr-13858	782	40	disclosure	disclosure	NOUN
cblr-13858	782	41	requirements	requirement	NOUN
cblr-13858	782	42	?	?	PUNCT
cblr-13858	783	1	see	see	VERB
cblr-13858	783	2	stefan	stefan	PROPN
cblr-13858	783	3	j.	j.	PROPN
cblr-13858	783	4	padfield	padfield	PROPN
cblr-13858	783	5	,	,	PUNCT
cblr-13858	783	6	peerto	peerto	NOUN
cblr-13858	783	7	-	-	PUNCT
cblr-13858	783	8	peer	peer	NOUN
cblr-13858	783	9	lending	lending	NOUN
cblr-13858	783	10	:	:	PUNCT
cblr-13858	783	11	who	who	PRON
cblr-13858	783	12	is	be	AUX
cblr-13858	783	13	the	the	DET
cblr-13858	783	14	issuer	issuer	NOUN
cblr-13858	783	15	?	?	PUNCT
cblr-13858	783	16	,	,	PUNCT
cblr-13858	783	17	bus	bus	NOUN
cblr-13858	783	18	.	.	PUNCT
cblr-13858	784	1	law	law	PROPN
cblr-13858	784	2	prof	prof	PROPN
cblr-13858	784	3	blog	blog	NOUN
cblr-13858	784	4	(	(	PUNCT
cblr-13858	784	5	june	june	PROPN
cblr-13858	784	6	16	16	NUM
cblr-13858	784	7	,	,	PUNCT
cblr-13858	784	8	2011	2011	NUM
cblr-13858	784	9	)	)	PUNCT
cblr-13858	784	10	,	,	PUNCT
cblr-13858	784	11	http://lawprofessors.typepad.com/businesslaw/2011/06/peer-to-peer-lendin	http://lawprofessors.typepad.com/businesslaw/2011/06/peer-to-peer-lendin	NOUN
cblr-13858	784	12	g-who-is-the-issuer.html	g-who-is-the-issuer.html	NOUN
cblr-13858	784	13	.	.	PUNCT
cblr-13858	785	1	see	see	VERB
cblr-13858	785	2	also	also	ADV
cblr-13858	785	3	heminway	heminway	PROPN
cblr-13858	785	4	&	&	CCONJ
cblr-13858	785	5	hoffman	hoffman	PROPN
cblr-13858	785	6	,	,	PUNCT
cblr-13858	785	7	supra	supra	PROPN
cblr-13858	785	8	note	note	PROPN
cblr-13858	785	9	142	142	NUM
cblr-13858	785	10	,	,	PUNCT
cblr-13858	785	11	at	at	ADP
cblr-13858	785	12	922	922	NUM
cblr-13858	785	13	-	-	SYM
cblr-13858	785	14	27	27	NUM
cblr-13858	785	15	(	(	PUNCT
cblr-13858	785	16	discussing	discuss	VERB
cblr-13858	785	17	whether	whether	SCONJ
cblr-13858	785	18	the	the	DET
cblr-13858	785	19	entrepreneur	entrepreneur	NOUN
cblr-13858	785	20	,	,	PUNCT
cblr-13858	785	21	the	the	DET
cblr-13858	785	22	crowdfunding	crowdfunding	NOUN
cblr-13858	785	23	site	site	NOUN
cblr-13858	785	24	,	,	PUNCT
cblr-13858	785	25	or	or	CCONJ
cblr-13858	785	26	both	both	PRON
cblr-13858	785	27	are	be	AUX
cblr-13858	785	28	the	the	DET
cblr-13858	785	29	issuer	issuer	NOUN
cblr-13858	785	30	for	for	ADP
cblr-13858	785	31	purposes	purpose	NOUN
cblr-13858	785	32	of	of	ADP
cblr-13858	785	33	registration	registration	NOUN
cblr-13858	785	34	)	)	PUNCT
cblr-13858	785	35	.	.	PUNCT
cblr-13858	786	1	186	186	NUM
cblr-13858	786	2	see	see	VERB
cblr-13858	786	3	prosper	prosper	NOUN
cblr-13858	786	4	registration	registration	NOUN
cblr-13858	786	5	statement	statement	NOUN
cblr-13858	786	6	,	,	PUNCT
cblr-13858	786	7	supra	supra	PROPN
cblr-13858	786	8	note	note	PROPN
cblr-13858	786	9	81	81	NUM
cblr-13858	786	10	;	;	PUNCT
cblr-13858	786	11	lending	lend	VERB
cblr-13858	786	12	club	club	NOUN
cblr-13858	786	13	registration	registration	NOUN
cblr-13858	786	14	statement	statement	NOUN
cblr-13858	786	15	,	,	PUNCT
cblr-13858	786	16	supra	supra	PROPN
cblr-13858	786	17	note	note	NOUN
cblr-13858	786	18	81	81	NUM
cblr-13858	786	19	.	.	SYM
cblr-13858	786	20	1	1	NUM
cblr-13858	786	21	prosper	prosper	NOUN
cblr-13858	786	22	marketplace	marketplace	NOUN
cblr-13858	786	23	,	,	PUNCT
cblr-13858	786	24	inc	inc	PROPN
cblr-13858	786	25	.	.	PROPN
cblr-13858	786	26	,	,	PUNCT
cblr-13858	786	27	supra	supra	PROPN
cblr-13858	786	28	note	note	PROPN
cblr-13858	786	29	86	86	NUM
cblr-13858	786	30	.	.	SYM
cblr-13858	786	31	1	1	NUM
cblr-13858	786	32	prosper	prosper	NOUN
cblr-13858	786	33	registration	registration	NOUN
cblr-13858	786	34	statement	statement	NOUN
cblr-13858	786	35	,	,	PUNCT
cblr-13858	786	36	supra	supra	PROPN
cblr-13858	786	37	note	note	PROPN
cblr-13858	786	38	81	81	NUM
cblr-13858	786	39	,	,	PUNCT
cblr-13858	786	40	at	at	ADP
cblr-13858	786	41	f-40	f-40	NOUN
cblr-13858	786	42	;	;	PUNCT
cblr-13858	786	43	lending	lend	VERB
cblr-13858	786	44	club	club	NOUN
cblr-13858	786	45	registration	registration	NOUN
cblr-13858	786	46	statement	statement	NOUN
cblr-13858	786	47	,	,	PUNCT
cblr-13858	786	48	supra	supra	PROPN
cblr-13858	786	49	note	note	PROPN
cblr-13858	786	50	81	81	NUM
cblr-13858	786	51	,	,	PUNCT
cblr-13858	786	52	at	at	ADP
cblr-13858	786	53	90	90	NUM
cblr-13858	786	54	.	.	PUNCT
cblr-13858	786	55	189	189	NUM
cblr-13858	786	56	prosper	prosper	NOUN
cblr-13858	786	57	registration	registration	NOUN
cblr-13858	786	58	statement	statement	NOUN
cblr-13858	786	59	,	,	PUNCT
cblr-13858	786	60	supra	supra	PROPN
cblr-13858	786	61	note	note	PROPN
cblr-13858	786	62	81	81	NUM
cblr-13858	786	63	,	,	PUNCT
cblr-13858	786	64	at	at	ADP
cblr-13858	786	65	75	75	NUM
cblr-13858	786	66	.	.	PUNCT
cblr-13858	787	1	a	a	DET
cblr-13858	787	2	blog	blog	NOUN
cblr-13858	787	3	has	have	AUX
cblr-13858	787	4	been	be	AUX
cblr-13858	787	5	set	set	VERB
cblr-13858	787	6	up	up	ADP
cblr-13858	787	7	to	to	PART
cblr-13858	787	8	monitor	monitor	VERB
cblr-13858	787	9	and	and	CCONJ
cblr-13858	787	10	report	report	VERB
cblr-13858	787	11	on	on	ADP
cblr-13858	787	12	that	that	DET
cblr-13858	787	13	case	case	NOUN
cblr-13858	787	14	.	.	PUNCT
cblr-13858	788	1	see	see	VERB
cblr-13858	788	2	prosper	prosper	NOUN
cblr-13858	788	3	class	class	NOUN
cblr-13858	788	4	action	action	NOUN
cblr-13858	788	5	suit	suit	NOUN
cblr-13858	788	6	monitor	monitor	VERB
cblr-13858	788	7	,	,	PUNCT
cblr-13858	788	8	http://prosperclassaction.wordpress.com/	http://prosperclassaction.wordpress.com/	PROPN
cblr-13858	788	9	(	(	PUNCT
cblr-13858	788	10	last	last	ADJ
cblr-13858	788	11	visited	visit	VERB
cblr-13858	788	12	mar	mar	PROPN
cblr-13858	788	13	.	.	PROPN
cblr-13858	788	14	5	5	NUM
cblr-13858	788	15	,	,	PUNCT
cblr-13858	788	16	2012	2012	NUM
cblr-13858	788	17	)	)	PUNCT
cblr-13858	788	18	.	.	PUNCT
cblr-13858	789	1	prosper	prosper	NOUN
cblr-13858	789	2	has	have	AUX
cblr-13858	789	3	also	also	ADV
cblr-13858	789	4	entered	enter	VERB
cblr-13858	789	5	into	into	ADP
cblr-13858	789	6	a	a	DET
cblr-13858	789	7	settlement	settlement	NOUN
cblr-13858	789	8	with	with	ADP
cblr-13858	789	9	the	the	DET
cblr-13858	789	10	north	north	ADJ
cblr-13858	789	11	american	american	ADJ
cblr-13858	789	12	securities	securities	PROPN
cblr-13858	789	13	administrators	administrators	PROPN
cblr-13858	789	14	association	association	PROPN
cblr-13858	789	15	of	of	ADP
cblr-13858	789	16	regulatory	regulatory	ADJ
cblr-13858	789	17	claims	claim	NOUN
cblr-13858	789	18	under	under	ADP
cblr-13858	789	19	state	state	NOUN
cblr-13858	789	20	securities	security	NOUN
cblr-13858	789	21	law	law	NOUN
cblr-13858	789	22	and	and	CCONJ
cblr-13858	789	23	has	have	AUX
cblr-13858	789	24	agreed	agree	VERB
cblr-13858	789	25	not	not	PART
cblr-13858	789	26	to	to	PART
cblr-13858	789	27	sell	sell	VERB
cblr-13858	789	28	securities	security	NOUN
cblr-13858	789	29	unless	unless	SCONJ
cblr-13858	789	30	it	it	PRON
cblr-13858	789	31	complies	comply	VERB
cblr-13858	789	32	with	with	ADP
cblr-13858	789	33	state	state	NOUN
cblr-13858	789	34	securities	security	NOUN
cblr-13858	789	35	laws	law	NOUN
cblr-13858	789	36	.	.	PUNCT
cblr-13858	790	1	see	see	VERB
cblr-13858	790	2	prosper	prosper	NOUN
cblr-13858	790	3	registration	registration	NOUN
cblr-13858	790	4	statement	statement	NOUN
cblr-13858	790	5	,	,	PUNCT
cblr-13858	790	6	supra	supra	PROPN
cblr-13858	790	7	note	note	PROPN
cblr-13858	790	8	81	81	NUM
cblr-13858	790	9	,	,	PUNCT
cblr-13858	790	10	at	at	ADP
cblr-13858	790	11	75	75	NUM
cblr-13858	790	12	;	;	PUNCT
cblr-13858	790	13	prosper	prosper	VERB
cblr-13858	790	14	marketplace	marketplace	PROPN
cblr-13858	790	15	inc	inc	PROPN
cblr-13858	790	16	.	.	PROPN
cblr-13858	790	17	enters	enter	VERB
cblr-13858	790	18	settlement	settlement	NOUN
cblr-13858	790	19	with	with	ADP
cblr-13858	790	20	state	state	NOUN
cblr-13858	790	21	securities	security	NOUN
cblr-13858	790	22	regulators	regulator	NOUN
cblr-13858	790	23	over	over	ADP
cblr-13858	790	24	sales	sale	NOUN
cblr-13858	790	25	of	of	ADP
cblr-13858	790	26	unregistered	unregistered	ADJ
cblr-13858	790	27	securities	security	NOUN
cblr-13858	790	28	,	,	PUNCT
cblr-13858	790	29	n.	n.	PROPN
cblr-13858	790	30	am	am	PROPN
cblr-13858	790	31	.	.	PUNCT
cblr-13858	791	1	sec	sec	PROPN
cblr-13858	791	2	.	.	PUNCT
cblr-13858	792	1	adm'rs	adm'rs	PROPN
cblr-13858	792	2	ass'n	ass'n	PROPN
cblr-13858	792	3	(	(	PUNCT
cblr-13858	792	4	dec	dec	PROPN
cblr-13858	792	5	.	.	PROPN
cblr-13858	792	6	1	1	NUM
cblr-13858	792	7	,	,	PUNCT
cblr-13858	792	8	2008	2008	NUM
cblr-13858	792	9	)	)	PUNCT
cblr-13858	792	10	,	,	PUNCT
cblr-13858	792	11	http://www.nasaa.org/5622/prosper40	http://www.nasaa.org/5622/prosper40	PROPN
cblr-13858	792	12	col	col	PROPN
cblr-13858	792	13	umbia	umbia	PROPN
cblr-13858	792	14	business	business	PROPN
cblr-13858	792	15	la	la	PROPN
cblr-13858	792	16	w	w	PROPN
cblr-13858	792	17	re	re	PROPN
cblr-13858	792	18	vie	vie	PROPN
cblr-13858	792	19	w	w	PROPN
cblr-13858	793	1	[	[	X
cblr-13858	793	2	vol	vol	NOUN
cblr-13858	793	3	.	.	PUNCT
cblr-13858	793	4	2012	2012	NUM
cblr-13858	793	5	cro	cro	NOUN
cblr-13858	793	6	wdfunding	wdfunding	NOUN
cblr-13858	793	7	and	and	CCONJ
cblr-13858	793	8	securities	security	NOUN
cblr-13858	793	9	laws	law	NOUN
cblr-13858	793	10	the	the	DET
cblr-13858	793	11	use	use	NOUN
cblr-13858	793	12	of	of	ADP
cblr-13858	793	13	notes	note	NOUN
cblr-13858	793	14	adds	add	VERB
cblr-13858	793	15	one	one	NUM
cblr-13858	793	16	additional	additional	ADJ
cblr-13858	793	17	complication	complication	NOUN
cblr-13858	793	18	.	.	PUNCT
cblr-13858	794	1	the	the	DET
cblr-13858	794	2	definition	definition	NOUN
cblr-13858	794	3	of	of	ADP
cblr-13858	794	4	a	a	DET
cblr-13858	794	5	security	security	NOUN
cblr-13858	794	6	in	in	ADP
cblr-13858	794	7	the	the	DET
cblr-13858	794	8	securities	security	NOUN
cblr-13858	794	9	exchange	exchange	PROPN
cblr-13858	794	10	act	act	NOUN
cblr-13858	794	11	of	of	ADP
cblr-13858	794	12	1934	1934	NUM
cblr-13858	794	13	(	(	PUNCT
cblr-13858	794	14	the	the	DET
cblr-13858	794	15	"	"	PUNCT
cblr-13858	794	16	exchange	exchange	NOUN
cblr-13858	794	17	act	act	NOUN
cblr-13858	794	18	"	"	PUNCT
cblr-13858	794	19	)	)	PUNCT
cblr-13858	794	20	excepts	except	VERB
cblr-13858	794	21	notes	note	NOUN
cblr-13858	794	22	with	with	ADP
cblr-13858	794	23	"	"	PUNCT
cblr-13858	794	24	a	a	DET
cblr-13858	794	25	maturity	maturity	NOUN
cblr-13858	794	26	at	at	ADP
cblr-13858	794	27	the	the	DET
cblr-13858	794	28	time	time	NOUN
cblr-13858	794	29	of	of	ADP
cblr-13858	794	30	issuance	issuance	NOUN
cblr-13858	794	31	not	not	PART
cblr-13858	794	32	exceeding	exceed	VERB
cblr-13858	794	33	nine	nine	NUM
cblr-13858	794	34	months	month	NOUN
cblr-13858	794	35	,	,	PUNCT
cblr-13858	794	36	exclusive	exclusive	ADJ
cblr-13858	794	37	of	of	ADP
cblr-13858	794	38	days	day	NOUN
cblr-13858	794	39	of	of	ADP
cblr-13858	794	40	grace	grace	NOUN
cblr-13858	794	41	,	,	PUNCT
cblr-13858	794	42	or	or	CCONJ
cblr-13858	794	43	any	any	DET
cblr-13858	794	44	renewal	renewal	NOUN
cblr-13858	794	45	thereof	thereof	ADV
cblr-13858	794	46	the	the	DET
cblr-13858	794	47	maturity	maturity	NOUN
cblr-13858	794	48	of	of	ADP
cblr-13858	794	49	which	which	PRON
cblr-13858	794	50	is	be	AUX
cblr-13858	794	51	likewise	likewise	ADV
cblr-13858	794	52	limited	limited	ADJ
cblr-13858	794	53	.	.	PUNCT
cblr-13858	795	1	""'o	""'o	PRON
cblr-13858	796	1	the	the	DET
cblr-13858	796	2	securities	security	NOUN
cblr-13858	796	3	act	act	PROPN
cblr-13858	796	4	definition	definition	NOUN
cblr-13858	796	5	of	of	ADP
cblr-13858	796	6	security	security	NOUN
cblr-13858	796	7	includes	include	VERB
cblr-13858	796	8	no	no	DET
cblr-13858	796	9	such	such	ADJ
cblr-13858	796	10	exception	exception	NOUN
cblr-13858	796	11	.	.	PUNCT
cblr-13858	797	1	however	however	ADV
cblr-13858	797	2	,	,	PUNCT
cblr-13858	797	3	section	section	NOUN
cblr-13858	797	4	3(a)(3	3(a)(3	NUM
cblr-13858	797	5	)	)	PUNCT
cblr-13858	797	6	of	of	ADP
cblr-13858	797	7	the	the	DET
cblr-13858	797	8	securities	security	NOUN
cblr-13858	797	9	act	act	PROPN
cblr-13858	797	10	exempts	exempt	VERB
cblr-13858	797	11	from	from	ADP
cblr-13858	797	12	some	some	PRON
cblr-13858	797	13	,	,	PUNCT
cblr-13858	797	14	but	but	CCONJ
cblr-13858	797	15	not	not	PART
cblr-13858	797	16	all,'9	all,'9	NOUN
cblr-13858	797	17	'	'	PUNCT
cblr-13858	797	18	of	of	ADP
cblr-13858	797	19	the	the	DET
cblr-13858	797	20	act	act	NOUN
cblr-13858	797	21	's	's	PART
cblr-13858	797	22	requirements	requirement	NOUN
cblr-13858	797	23	:	:	PUNCT
cblr-13858	797	24	any	any	DET
cblr-13858	797	25	note	note	NOUN
cblr-13858	797	26	.	.	PUNCT
cblr-13858	797	27	.	.	PUNCT
cblr-13858	798	1	.	.	PUNCT
cblr-13858	799	1	which	which	PRON
cblr-13858	799	2	arises	arise	VERB
cblr-13858	799	3	out	out	ADP
cblr-13858	799	4	of	of	ADP
cblr-13858	799	5	a	a	DET
cblr-13858	799	6	current	current	ADJ
cblr-13858	799	7	transaction	transaction	NOUN
cblr-13858	799	8	or	or	CCONJ
cblr-13858	799	9	the	the	DET
cblr-13858	799	10	proceeds	proceed	NOUN
cblr-13858	799	11	of	of	ADP
cblr-13858	799	12	which	which	PRON
cblr-13858	799	13	have	have	AUX
cblr-13858	799	14	been	be	AUX
cblr-13858	799	15	or	or	CCONJ
cblr-13858	799	16	are	be	AUX
cblr-13858	799	17	to	to	PART
cblr-13858	799	18	be	be	AUX
cblr-13858	799	19	used	use	VERB
cblr-13858	799	20	for	for	ADP
cblr-13858	799	21	current	current	ADJ
cblr-13858	799	22	transactions	transaction	NOUN
cblr-13858	799	23	,	,	PUNCT
cblr-13858	799	24	and	and	CCONJ
cblr-13858	799	25	which	which	PRON
cblr-13858	799	26	has	have	VERB
cblr-13858	799	27	a	a	DET
cblr-13858	799	28	maturity	maturity	NOUN
cblr-13858	799	29	at	at	ADP
cblr-13858	799	30	the	the	DET
cblr-13858	799	31	time	time	NOUN
cblr-13858	799	32	of	of	ADP
cblr-13858	799	33	issuance	issuance	NOUN
cblr-13858	799	34	of	of	ADP
cblr-13858	799	35	not	not	PART
cblr-13858	799	36	exceeding	exceed	VERB
cblr-13858	799	37	nine	nine	NUM
cblr-13858	799	38	months	month	NOUN
cblr-13858	799	39	,	,	PUNCT
cblr-13858	799	40	exclusive	exclusive	ADJ
cblr-13858	799	41	of	of	ADP
cblr-13858	799	42	days	day	NOUN
cblr-13858	799	43	of	of	ADP
cblr-13858	799	44	grace	grace	NOUN
cblr-13858	799	45	,	,	PUNCT
cblr-13858	799	46	or	or	CCONJ
cblr-13858	799	47	any	any	DET
cblr-13858	799	48	renewal	renewal	NOUN
cblr-13858	799	49	thereof	thereof	ADV
cblr-13858	799	50	the	the	DET
cblr-13858	799	51	maturity	maturity	NOUN
cblr-13858	799	52	of	of	ADP
cblr-13858	799	53	which	which	PRON
cblr-13858	799	54	is	be	AUX
cblr-13858	799	55	likewise	likewise	ADV
cblr-13858	799	56	limited	limited	ADJ
cblr-13858	799	57	.	.	PUNCT
cblr-13858	800	1	'92	'92	NUM
cblr-13858	800	2	crowdfunders	crowdfunder	NOUN
cblr-13858	800	3	might	might	AUX
cblr-13858	800	4	try	try	VERB
cblr-13858	800	5	to	to	PART
cblr-13858	800	6	avoid	avoid	VERB
cblr-13858	800	7	the	the	DET
cblr-13858	800	8	application	application	NOUN
cblr-13858	800	9	of	of	ADP
cblr-13858	800	10	federal	federal	ADJ
cblr-13858	800	11	securities	security	NOUN
cblr-13858	800	12	law	law	NOUN
cblr-13858	800	13	by	by	ADP
cblr-13858	800	14	promising	promise	VERB
cblr-13858	800	15	repayment	repayment	NOUN
cblr-13858	800	16	within	within	ADP
cblr-13858	800	17	nine	nine	NUM
cblr-13858	800	18	months	month	NOUN
cblr-13858	800	19	.	.	PUNCT
cblr-13858	801	1	93	93	NUM
cblr-13858	801	2	however	however	ADV
cblr-13858	801	3	,	,	PUNCT
cblr-13858	801	4	both	both	CCONJ
cblr-13858	801	5	the	the	DET
cblr-13858	801	6	exchange	exchange	NOUN
cblr-13858	801	7	act	act	NOUN
cblr-13858	801	8	exception	exception	NOUN
cblr-13858	801	9	and	and	CCONJ
cblr-13858	801	10	the	the	DET
cblr-13858	801	11	securities	security	NOUN
cblr-13858	801	12	act	act	PROPN
cblr-13858	801	13	exemption	exemption	NOUN
cblr-13858	801	14	have	have	AUX
cblr-13858	801	15	traditionally	traditionally	ADV
cblr-13858	801	16	been	be	AUX
cblr-13858	801	17	read	read	VERB
cblr-13858	801	18	to	to	PART
cblr-13858	801	19	cover	cover	VERB
cblr-13858	801	20	only	only	ADJ
cblr-13858	801	21	prime	prime	ADJ
cblr-13858	801	22	-	-	PUNCT
cblr-13858	801	23	quality	quality	NOUN
cblr-13858	801	24	commercial	commercial	ADJ
cblr-13858	801	25	paper	paper	NOUN
cblr-13858	801	26	bought	buy	VERB
cblr-13858	801	27	by	by	ADP
cblr-13858	801	28	sophisticated	sophisticated	ADJ
cblr-13858	801	29	traders	trader	NOUN
cblr-13858	801	30	.	.	PUNCT
cblr-13858	802	1	"	"	PUNCT
cblr-13858	802	2	'	'	PUNCT
cblr-13858	802	3	four	four	NUM
cblr-13858	802	4	dissenters	dissenter	NOUN
cblr-13858	802	5	in	in	ADP
cblr-13858	802	6	reves	ref	NOUN
cblr-13858	802	7	questioned	question	VERB
cblr-13858	802	8	marketplace	marketplace	NOUN
cblr-13858	802	9	-	-	PUNCT
cblr-13858	802	10	inc	inc	NOUN
cblr-13858	802	11	-	-	PUNCT
cblr-13858	802	12	enters	enter	NOUN
cblr-13858	802	13	-	-	PUNCT
cblr-13858	802	14	settlement	settlement	NOUN
cblr-13858	802	15	-	-	PUNCT
cblr-13858	802	16	with	with	ADP
cblr-13858	802	17	-	-	PUNCT
cblr-13858	802	18	state	state	NOUN
cblr-13858	802	19	-	-	PUNCT
cblr-13858	802	20	secuirities	secuiritie	NOUN
cblr-13858	802	21	-	-	PUNCT
cblr-13858	802	22	regulators	regulator	NOUN
cblr-13858	802	23	-	-	PUNCT
cblr-13858	802	24	over	over	ADP
cblr-13858	802	25	-	-	PUNCT
cblr-13858	802	26	sa	sa	NOUN
cblr-13858	802	27	les	les	PROPN
cblr-13858	802	28	-	-	PUNCT
cblr-13858	802	29	of	of	ADP
cblr-13858	802	30	-	-	PUNCT
cblr-13858	802	31	unregistered	unregistered	ADJ
cblr-13858	802	32	-	-	PUNCT
cblr-13858	802	33	securities/.	securities/.	NOUN
cblr-13858	802	34	190	190	NUM
cblr-13858	802	35	securities	security	NOUN
cblr-13858	802	36	exchange	exchange	PROPN
cblr-13858	802	37	act	act	NOUN
cblr-13858	802	38	of	of	ADP
cblr-13858	802	39	1934	1934	NUM
cblr-13858	802	40	§	§	PROPN
cblr-13858	802	41	3(a)(10	3(a)(10	NUM
cblr-13858	802	42	)	)	PUNCT
cblr-13858	802	43	,	,	PUNCT
cblr-13858	802	44	15	15	NUM
cblr-13858	802	45	u.s.c	u.s.c	ADJ
cblr-13858	802	46	.	.	PUNCT
cblr-13858	803	1	§	§	PROPN
cblr-13858	803	2	78c(a)(10	78c(a)(10	NUM
cblr-13858	803	3	)	)	PUNCT
cblr-13858	803	4	(	(	PUNCT
cblr-13858	803	5	2010	2010	NUM
cblr-13858	803	6	)	)	PUNCT
cblr-13858	803	7	.	.	PUNCT
cblr-13858	803	8	'	'	PUNCT
cblr-13858	804	1	see	see	VERB
cblr-13858	804	2	securities	security	NOUN
cblr-13858	804	3	act	act	NOUN
cblr-13858	804	4	of	of	ADP
cblr-13858	804	5	1933	1933	NUM
cblr-13858	804	6	§	§	PROPN
cblr-13858	804	7	§	§	PROPN
cblr-13858	804	8	12(a)(2	12(a)(2	NUM
cblr-13858	804	9	)	)	PUNCT
cblr-13858	804	10	,	,	PUNCT
cblr-13858	804	11	17(c	17(c	NUM
cblr-13858	804	12	)	)	PUNCT
cblr-13858	804	13	,	,	PUNCT
cblr-13858	804	14	15	15	NUM
cblr-13858	804	15	u.s.c	u.s.c	NOUN
cblr-13858	804	16	.	.	PUNCT
cblr-13858	805	1	§	§	PROPN
cblr-13858	805	2	§	§	PROPN
cblr-13858	805	3	771(a)(2	771(a)(2	NOUN
cblr-13858	805	4	)	)	PUNCT
cblr-13858	805	5	,	,	PUNCT
cblr-13858	805	6	77q(c	77q(c	NUM
cblr-13858	805	7	)	)	PUNCT
cblr-13858	805	8	(	(	PUNCT
cblr-13858	805	9	2010	2010	NUM
cblr-13858	805	10	)	)	PUNCT
cblr-13858	805	11	.	.	PUNCT
cblr-13858	806	1	192	192	NUM
cblr-13858	806	2	15	15	NUM
cblr-13858	806	3	u.s.c	u.s.c	NOUN
cblr-13858	806	4	.	.	PUNCT
cblr-13858	807	1	§	§	PROPN
cblr-13858	807	2	77c(a)(3	77c(a)(3	NOUN
cblr-13858	807	3	)	)	PUNCT
cblr-13858	807	4	.	.	PUNCT
cblr-13858	808	1	193	193	NUM
cblr-13858	808	2	it	it	PRON
cblr-13858	808	3	appears	appear	VERB
cblr-13858	808	4	that	that	SCONJ
cblr-13858	808	5	no	no	DET
cblr-13858	808	6	crowdfunding	crowdfunding	NOUN
cblr-13858	808	7	site	site	NOUN
cblr-13858	808	8	currently	currently	ADV
cblr-13858	808	9	requires	require	VERB
cblr-13858	808	10	repayment	repayment	NOUN
cblr-13858	808	11	within	within	ADP
cblr-13858	808	12	nine	nine	NUM
cblr-13858	808	13	months	month	NOUN
cblr-13858	808	14	.	.	PUNCT
cblr-13858	809	1	prosper	prosper	VERB
cblr-13858	809	2	and	and	CCONJ
cblr-13858	809	3	lending	lending	NOUN
cblr-13858	809	4	club	club	NOUN
cblr-13858	809	5	,	,	PUNCT
cblr-13858	809	6	for	for	ADP
cblr-13858	809	7	example	example	NOUN
cblr-13858	809	8	,	,	PUNCT
cblr-13858	809	9	sell	sell	VERB
cblr-13858	809	10	notes	note	NOUN
cblr-13858	809	11	with	with	ADP
cblr-13858	809	12	three	three	NUM
cblr-13858	809	13	-	-	PUNCT
cblr-13858	809	14	year	year	NOUN
cblr-13858	809	15	terms	term	NOUN
cblr-13858	809	16	.	.	PUNCT
cblr-13858	810	1	prosper	prosper	VERB
cblr-13858	810	2	registration	registration	NOUN
cblr-13858	810	3	statement	statement	NOUN
cblr-13858	810	4	,	,	PUNCT
cblr-13858	810	5	supra	supra	PROPN
cblr-13858	810	6	note	note	PROPN
cblr-13858	810	7	81	81	NUM
cblr-13858	810	8	,	,	PUNCT
cblr-13858	810	9	at	at	ADP
cblr-13858	810	10	8	8	NUM
cblr-13858	810	11	;	;	PUNCT
cblr-13858	810	12	lending	lend	VERB
cblr-13858	810	13	club	club	NOUN
cblr-13858	810	14	registration	registration	NOUN
cblr-13858	810	15	statement	statement	NOUN
cblr-13858	810	16	,	,	PUNCT
cblr-13858	810	17	supra	supra	PROPN
cblr-13858	810	18	note	note	PROPN
cblr-13858	810	19	81	81	NUM
cblr-13858	810	20	,	,	PUNCT
cblr-13858	810	21	at	at	ADP
cblr-13858	810	22	7	7	NUM
cblr-13858	810	23	.	.	SYM
cblr-13858	810	24	1	1	NUM
cblr-13858	810	25	see	see	VERB
cblr-13858	810	26	hazen	hazen	PROPN
cblr-13858	810	27	,	,	PUNCT
cblr-13858	810	28	supra	supra	PROPN
cblr-13858	810	29	note	note	PROPN
cblr-13858	810	30	42	42	NUM
cblr-13858	810	31	,	,	PUNCT
cblr-13858	810	32	at	at	ADP
cblr-13858	810	33	460	460	NUM
cblr-13858	810	34	(	(	PUNCT
cblr-13858	810	35	exemption	exemption	NOUN
cblr-13858	810	36	in	in	ADP
cblr-13858	810	37	section	section	NOUN
cblr-13858	810	38	3(a)(3	3(a)(3	NUM
cblr-13858	810	39	)	)	PUNCT
cblr-13858	810	40	of	of	ADP
cblr-13858	810	41	the	the	DET
cblr-13858	810	42	securities	security	NOUN
cblr-13858	810	43	act	act	NOUN
cblr-13858	810	44	"	"	PUNCT
cblr-13858	810	45	applies	apply	VERB
cblr-13858	810	46	only	only	ADV
cblr-13858	810	47	to	to	ADP
cblr-13858	810	48	prime	prime	ADJ
cblr-13858	810	49	quality	quality	NOUN
cblr-13858	810	50	negotiable	negotiable	ADJ
cblr-13858	810	51	commercial	commercial	ADJ
cblr-13858	810	52	paper	paper	NOUN
cblr-13858	810	53	of	of	ADP
cblr-13858	810	54	a	a	DET
cblr-13858	810	55	type	type	NOUN
cblr-13858	810	56	not	not	PART
cblr-13858	810	57	ordinarily	ordinarily	ADV
cblr-13858	810	58	purchased	purchase	VERB
cblr-13858	810	59	by	by	ADP
cblr-13858	810	60	the	the	DET
cblr-13858	810	61	general	general	ADJ
cblr-13858	810	62	public	public	NOUN
cblr-13858	810	63	.	.	PUNCT
cblr-13858	810	64	"	"	PUNCT
cblr-13858	810	65	)	)	PUNCT
cblr-13858	810	66	;	;	PUNCT
cblr-13858	810	67	wendy	wendy	PROPN
cblr-13858	810	68	gerwick	gerwick	PROPN
cblr-13858	810	69	couture	couture	PROPN
cblr-13858	810	70	,	,	PUNCT
cblr-13858	810	71	the	the	DET
cblr-13858	810	72	securities	security	NOUN
cblr-13858	810	73	acts	act	VERB
cblr-13858	810	74	'	'	PART
cblr-13858	810	75	treatment	treatment	NOUN
cblr-13858	810	76	of	of	ADP
cblr-13858	810	77	notes	note	NOUN
cblr-13858	810	78	maturing	mature	VERB
cblr-13858	810	79	in	in	ADP
cblr-13858	810	80	less	less	ADJ
cblr-13858	810	81	than	than	ADP
cblr-13858	810	82	nine	nine	NUM
cblr-13858	810	83	months	month	NOUN
cblr-13858	810	84	:	:	PUNCT
cblr-13858	810	85	a	a	DET
cblr-13858	810	86	solution	solution	NOUN
cblr-13858	810	87	to	to	ADP
cblr-13858	810	88	the	the	DET
cblr-13858	810	89	enigma	enigma	NOUN
cblr-13858	810	90	,	,	PUNCT
cblr-13858	810	91	31	31	NUM
cblr-13858	810	92	sec	sec	PROPN
cblr-13858	810	93	.	.	PUNCT
cblr-13858	811	1	reg	reg	PROPN
cblr-13858	811	2	.	.	PUNCT
cblr-13858	812	1	l.j	l.j	AUX
cblr-13858	812	2	.	.	PROPN
cblr-13858	812	3	496	496	NUM
cblr-13858	812	4	,	,	PUNCT
cblr-13858	812	5	505	505	NUM
cblr-13858	812	6	(	(	PUNCT
cblr-13858	812	7	2003	2003	NUM
cblr-13858	812	8	)	)	PUNCT
cblr-13858	812	9	(	(	PUNCT
cblr-13858	812	10	"	"	PUNCT
cblr-13858	812	11	almost	almost	ADV
cblr-13858	812	12	every	every	PRON
cblr-13858	812	13	court	court	NOUN
cblr-13858	812	14	addressing	address	VERB
cblr-13858	812	15	the	the	DET
cblr-13858	812	16	issue	issue	NOUN
cblr-13858	812	17	has	have	AUX
cblr-13858	812	18	held	hold	VERB
cblr-13858	812	19	that	that	SCONJ
cblr-13858	812	20	the	the	DET
cblr-13858	812	21	§	§	PROPN
cblr-13858	812	22	3(a)(3	3(a)(3	NUM
cblr-13858	812	23	)	)	PUNCT
cblr-13858	812	24	exemption	exemption	NOUN
cblr-13858	812	25	and	and	CCONJ
cblr-13858	812	26	the	the	DET
cblr-13858	812	27	§	§	PROPN
cblr-13858	812	28	3(a)(10	3(a)(10	NUM
cblr-13858	812	29	)	)	PUNCT
cblr-13858	812	30	exclusion	exclusion	NOUN
cblr-13858	812	31	apply	apply	VERB
cblr-13858	812	32	to	to	ADP
cblr-13858	812	33	the	the	DET
cblr-13858	812	34	same	same	ADJ
cblr-13858	812	35	notes	note	NOUN
cblr-13858	812	36	.	.	PUNCT
cblr-13858	812	37	"	"	PUNCT
cblr-13858	812	38	)	)	PUNCT
cblr-13858	812	39	.	.	PUNCT
cblr-13858	813	1	no	no	INTJ
cblr-13858	813	2	.	.	PUNCT
cblr-13858	814	1	1:1]1	1:1]1	NUM
cblr-13858	814	2	41	41	NUM
cblr-13858	814	3	this	this	DET
cblr-13858	814	4	interpretation	interpretation	NOUN
cblr-13858	814	5	of	of	ADP
cblr-13858	814	6	the	the	DET
cblr-13858	814	7	exchange	exchange	NOUN
cblr-13858	814	8	act	act	NOUN
cblr-13858	814	9	exception	exception	NOUN
cblr-13858	814	10	,	,	PUNCT
cblr-13858	814	11	"	"	PUNCT
cblr-13858	814	12	'	'	PUNCT
cblr-13858	814	13	but	but	CCONJ
cblr-13858	814	14	that	that	DET
cblr-13858	814	15	long	long	ADV
cblr-13858	814	16	-	-	PUNCT
cblr-13858	814	17	standing	stand	VERB
cblr-13858	814	18	reading	reading	NOUN
cblr-13858	814	19	still	still	ADV
cblr-13858	814	20	stands	stand	VERB
cblr-13858	814	21	.	.	PUNCT
cblr-13858	815	1	the	the	DET
cblr-13858	815	2	risky	risky	ADJ
cblr-13858	815	3	debt	debt	NOUN
cblr-13858	815	4	issued	issue	VERB
cblr-13858	815	5	by	by	ADP
cblr-13858	815	6	startup	startup	NOUN
cblr-13858	815	7	entrepreneurs	entrepreneur	NOUN
cblr-13858	815	8	to	to	ADP
cblr-13858	815	9	the	the	DET
cblr-13858	815	10	general	general	ADJ
cblr-13858	815	11	public	public	NOUN
cblr-13858	815	12	would	would	AUX
cblr-13858	815	13	not	not	PART
cblr-13858	815	14	qualify	qualify	VERB
cblr-13858	815	15	as	as	ADP
cblr-13858	815	16	commercial	commercial	ADJ
cblr-13858	815	17	paper	paper	NOUN
cblr-13858	815	18	.	.	PUNCT
cblr-13858	816	1	96	96	NUM
cblr-13858	816	2	b.	b.	NOUN
cblr-13858	816	3	registration	registration	NOUN
cblr-13858	816	4	and	and	CCONJ
cblr-13858	816	5	exemption	exemption	NOUN
cblr-13858	816	6	of	of	ADP
cblr-13858	816	7	crowdfunded	crowdfunde	VERB
cblr-13858	816	8	securities	security	NOUN
cblr-13858	816	9	offerings	offering	NOUN
cblr-13858	816	10	1	1	NUM
cblr-13858	816	11	.	.	PUNCT
cblr-13858	816	12	registration	registration	NOUN
cblr-13858	816	13	offerings	offering	NOUN
cblr-13858	816	14	of	of	ADP
cblr-13858	816	15	securities	security	NOUN
cblr-13858	816	16	must	must	AUX
cblr-13858	816	17	be	be	AUX
cblr-13858	816	18	registered	register	VERB
cblr-13858	816	19	with	with	ADP
cblr-13858	816	20	the	the	DET
cblr-13858	816	21	sec	sec	PROPN
cblr-13858	816	22	unless	unless	SCONJ
cblr-13858	816	23	an	an	DET
cblr-13858	816	24	exemption	exemption	NOUN
cblr-13858	816	25	is	be	AUX
cblr-13858	816	26	available	available	ADJ
cblr-13858	816	27	.	.	PUNCT
cblr-13858	816	28	'	'	PUNCT
cblr-13858	817	1	unfortunately	unfortunately	ADV
cblr-13858	817	2	,	,	PUNCT
cblr-13858	817	3	registration	registration	NOUN
cblr-13858	817	4	is	be	AUX
cblr-13858	817	5	not	not	PART
cblr-13858	817	6	a	a	DET
cblr-13858	817	7	viable	viable	ADJ
cblr-13858	817	8	option	option	NOUN
cblr-13858	817	9	for	for	ADP
cblr-13858	817	10	early	early	ADJ
cblr-13858	817	11	-	-	PUNCT
cblr-13858	817	12	stage	stage	NOUN
cblr-13858	817	13	small	small	ADJ
cblr-13858	817	14	businesses	business	NOUN
cblr-13858	817	15	seeking	seek	VERB
cblr-13858	817	16	relatively	relatively	ADV
cblr-13858	817	17	small	small	ADJ
cblr-13858	817	18	amounts	amount	NOUN
cblr-13858	817	19	of	of	ADP
cblr-13858	817	20	capital	capital	NOUN
cblr-13858	817	21	.	.	PUNCT
cblr-13858	817	22	'	'	PUNCT
cblr-13858	818	1	it	it	PRON
cblr-13858	818	2	is	be	AUX
cblr-13858	818	3	too	too	ADV
cblr-13858	818	4	expensive	expensive	ADJ
cblr-13858	818	5	and	and	CCONJ
cblr-13858	818	6	too	too	ADV
cblr-13858	818	7	time	time	NOUN
cblr-13858	818	8	-	-	PUNCT
cblr-13858	818	9	consuming	consume	VERB
cblr-13858	818	10	for	for	ADP
cblr-13858	818	11	crowdfunded	crowdfunde	VERB
cblr-13858	818	12	offerings	offering	NOUN
cblr-13858	818	13	.	.	PUNCT
cblr-13858	819	1	first	first	ADV
cblr-13858	819	2	,	,	PUNCT
cblr-13858	819	3	the	the	DET
cblr-13858	819	4	cost	cost	NOUN
cblr-13858	819	5	of	of	ADP
cblr-13858	819	6	registration	registration	NOUN
cblr-13858	819	7	will	will	AUX
cblr-13858	819	8	in	in	ADP
cblr-13858	819	9	most	most	ADJ
cblr-13858	819	10	cases	case	NOUN
cblr-13858	819	11	exceed	exceed	VERB
cblr-13858	819	12	the	the	DET
cblr-13858	819	13	amount	amount	NOUN
cblr-13858	819	14	small	small	ADJ
cblr-13858	819	15	entrepreneurs	entrepreneur	NOUN
cblr-13858	819	16	want	want	VERB
cblr-13858	819	17	to	to	PART
cblr-13858	819	18	raise	raise	VERB
cblr-13858	819	19	.	.	PUNCT
cblr-13858	820	1	"	"	PUNCT
cblr-13858	820	2	'	'	PUNCT
cblr-13858	820	3	the	the	DET
cblr-13858	820	4	direct	direct	ADJ
cblr-13858	820	5	costs	cost	NOUN
cblr-13858	820	6	of	of	ADP
cblr-13858	820	7	preparing	prepare	VERB
cblr-13858	820	8	and	and	CCONJ
cblr-13858	820	9	filing	file	VERB
cblr-13858	820	10	the	the	DET
cblr-13858	820	11	registration	registration	NOUN
cblr-13858	820	12	statementregistration	statementregistration	NOUN
cblr-13858	820	13	fees	fee	NOUN
cblr-13858	820	14	,	,	PUNCT
cblr-13858	820	15	accounting	accounting	NOUN
cblr-13858	820	16	fees	fee	NOUN
cblr-13858	820	17	,	,	PUNCT
cblr-13858	820	18	legal	legal	ADJ
cblr-13858	820	19	fees	fee	NOUN
cblr-13858	820	20	,	,	PUNCT
cblr-13858	820	21	and	and	CCONJ
cblr-13858	820	22	printing	printing	NOUN
cblr-13858	820	23	costs	cost	NOUN
cblr-13858	820	24	--	--	PUNCT
cblr-13858	820	25	can	can	AUX
cblr-13858	820	26	be	be	AUX
cblr-13858	820	27	hundreds	hundred	NOUN
cblr-13858	820	28	of	of	ADP
cblr-13858	820	29	thousands	thousand	NOUN
cblr-13858	820	30	of	of	ADP
cblr-13858	820	31	dollars	dollar	NOUN
cblr-13858	820	32	,	,	PUNCT
cblr-13858	820	33	even	even	ADV
cblr-13858	820	34	excluding	exclude	VERB
cblr-13858	820	35	underwriting	underwrite	VERB
cblr-13858	820	36	costs.2	costs.2	NOUN
cblr-13858	820	37	00	00	NUM
cblr-13858	820	38	smaller	small	ADJ
cblr-13858	820	39	offerings	offering	NOUN
cblr-13858	820	40	are	be	AUX
cblr-13858	820	41	less	less	ADJ
cblr-13858	820	42	195	195	NUM
cblr-13858	820	43	reves	ref	NOUN
cblr-13858	820	44	v.	v.	ADP
cblr-13858	820	45	ernst	ernst	PROPN
cblr-13858	820	46	&	&	CCONJ
cblr-13858	820	47	young	young	PROPN
cblr-13858	820	48	,	,	PUNCT
cblr-13858	820	49	494	494	NUM
cblr-13858	820	50	u.s	u.s	PROPN
cblr-13858	820	51	.	.	PROPN
cblr-13858	820	52	56	56	NUM
cblr-13858	820	53	,	,	PUNCT
cblr-13858	820	54	76	76	NUM
cblr-13858	820	55	(	(	PUNCT
cblr-13858	820	56	1990	1990	NUM
cblr-13858	820	57	)	)	PUNCT
cblr-13858	820	58	(	(	PUNCT
cblr-13858	820	59	rehnquist	rehnquist	NOUN
cblr-13858	820	60	,	,	PUNCT
cblr-13858	820	61	c.j	c.j	PROPN
cblr-13858	820	62	.	.	PROPN
cblr-13858	820	63	,	,	PUNCT
cblr-13858	820	64	dissenting	dissent	VERB
cblr-13858	820	65	)	)	PUNCT
cblr-13858	820	66	.	.	PUNCT
cblr-13858	820	67	"	"	PUNCT
cblr-13858	821	1	for	for	ADP
cblr-13858	821	2	a	a	DET
cblr-13858	821	3	full	full	ADJ
cblr-13858	821	4	discussion	discussion	NOUN
cblr-13858	821	5	of	of	ADP
cblr-13858	821	6	the	the	DET
cblr-13858	821	7	commercial	commercial	ADJ
cblr-13858	821	8	paper	paper	NOUN
cblr-13858	821	9	test	test	NOUN
cblr-13858	821	10	,	,	PUNCT
cblr-13858	821	11	see	see	VERB
cblr-13858	821	12	couture	couture	NOUN
cblr-13858	821	13	,	,	PUNCT
cblr-13858	821	14	supra	supra	PROPN
cblr-13858	821	15	note	note	NOUN
cblr-13858	821	16	194	194	NUM
cblr-13858	821	17	,	,	PUNCT
cblr-13858	821	18	at	at	ADP
cblr-13858	821	19	512	512	NUM
cblr-13858	821	20	-	-	SYM
cblr-13858	821	21	31	31	NUM
cblr-13858	821	22	.	.	PUNCT
cblr-13858	822	1	117	117	NUM
cblr-13858	822	2	section	section	NOUN
cblr-13858	822	3	5(c	5(c	NUM
cblr-13858	822	4	)	)	PUNCT
cblr-13858	822	5	of	of	ADP
cblr-13858	822	6	the	the	DET
cblr-13858	822	7	securities	security	NOUN
cblr-13858	822	8	act	act	NOUN
cblr-13858	822	9	provides	provide	VERB
cblr-13858	822	10	that	that	SCONJ
cblr-13858	822	11	no	no	DET
cblr-13858	822	12	one	one	NOUN
cblr-13858	822	13	may	may	AUX
cblr-13858	822	14	offer	offer	VERB
cblr-13858	822	15	securities	security	NOUN
cblr-13858	822	16	until	until	SCONJ
cblr-13858	822	17	a	a	DET
cblr-13858	822	18	registration	registration	NOUN
cblr-13858	822	19	statement	statement	NOUN
cblr-13858	822	20	has	have	AUX
cblr-13858	822	21	been	be	AUX
cblr-13858	822	22	filed	file	VERB
cblr-13858	822	23	with	with	ADP
cblr-13858	822	24	the	the	DET
cblr-13858	822	25	sec	sec	PROPN
cblr-13858	822	26	.	.	PUNCT
cblr-13858	823	1	securities	security	NOUN
cblr-13858	823	2	act	act	PROPN
cblr-13858	823	3	of	of	ADP
cblr-13858	823	4	1933	1933	NUM
cblr-13858	823	5	§	§	PROPN
cblr-13858	823	6	5(c	5(c	NUM
cblr-13858	823	7	)	)	PUNCT
cblr-13858	823	8	,	,	PUNCT
cblr-13858	823	9	15	15	NUM
cblr-13858	823	10	u.s.c	u.s.c	ADJ
cblr-13858	823	11	.	.	PUNCT
cblr-13858	824	1	§	§	PROPN
cblr-13858	824	2	77e(c	77e(c	NUM
cblr-13858	824	3	)	)	PUNCT
cblr-13858	824	4	(	(	PUNCT
cblr-13858	824	5	2010	2010	NUM
cblr-13858	824	6	)	)	PUNCT
cblr-13858	824	7	.	.	PUNCT
cblr-13858	825	1	section	section	NOUN
cblr-13858	825	2	5(a)(1	5(a)(1	NUM
cblr-13858	825	3	)	)	PUNCT
cblr-13858	825	4	of	of	ADP
cblr-13858	825	5	the	the	DET
cblr-13858	825	6	act	act	NOUN
cblr-13858	825	7	prohibits	prohibit	VERB
cblr-13858	825	8	sales	sale	NOUN
cblr-13858	825	9	of	of	ADP
cblr-13858	825	10	those	those	DET
cblr-13858	825	11	securities	security	NOUN
cblr-13858	825	12	until	until	SCONJ
cblr-13858	825	13	the	the	DET
cblr-13858	825	14	registration	registration	NOUN
cblr-13858	825	15	statement	statement	NOUN
cblr-13858	825	16	has	have	AUX
cblr-13858	825	17	become	become	VERB
cblr-13858	825	18	effective	effective	ADJ
cblr-13858	825	19	.	.	PUNCT
cblr-13858	826	1	i	i	PRON
cblr-13858	826	2	d.	d.	PROPN
cblr-13858	826	3	§	§	PROPN
cblr-13858	826	4	77e(a)(1	77e(a)(1	NUM
cblr-13858	826	5	)	)	PUNCT
cblr-13858	826	6	.	.	PUNCT
cblr-13858	826	7	"	"	PUNCT
cblr-13858	826	8	see	see	VERB
cblr-13858	826	9	cohn	cohn	PROPN
cblr-13858	826	10	&	&	CCONJ
cblr-13858	826	11	yadley	yadley	PROPN
cblr-13858	826	12	,	,	PUNCT
cblr-13858	826	13	supra	supra	PROPN
cblr-13858	826	14	note	note	PROPN
cblr-13858	826	15	11	11	NUM
cblr-13858	826	16	,	,	PUNCT
cblr-13858	826	17	at	at	ADP
cblr-13858	826	18	7	7	NUM
cblr-13858	826	19	-	-	SYM
cblr-13858	826	20	8	8	NUM
cblr-13858	826	21	;	;	PUNCT
cblr-13858	826	22	jeffrey	jeffrey	PROPN
cblr-13858	826	23	j.	j.	PROPN
cblr-13858	826	24	hass	hass	PROPN
cblr-13858	826	25	,	,	PUNCT
cblr-13858	826	26	small	small	ADJ
cblr-13858	826	27	issue	issue	NOUN
cblr-13858	826	28	public	public	ADJ
cblr-13858	826	29	offerings	offering	NOUN
cblr-13858	826	30	conducted	conduct	VERB
cblr-13858	826	31	over	over	ADP
cblr-13858	826	32	the	the	DET
cblr-13858	826	33	internet	internet	NOUN
cblr-13858	826	34	:	:	PUNCT
cblr-13858	826	35	are	be	AUX
cblr-13858	826	36	they	they	PRON
cblr-13858	826	37	'	'	PUNCT
cblr-13858	826	38	suitable	suitable	ADJ
cblr-13858	826	39	'	'	PUNCT
cblr-13858	826	40	for	for	ADP
cblr-13858	826	41	the	the	DET
cblr-13858	826	42	retail	retail	ADJ
cblr-13858	826	43	investor	investor	NOUN
cblr-13858	826	44	?	?	PUNCT
cblr-13858	826	45	,	,	PUNCT
cblr-13858	826	46	72	72	NUM
cblr-13858	826	47	s.	s.	PROPN
cblr-13858	826	48	cal	cal	PROPN
cblr-13858	826	49	.	.	PUNCT
cblr-13858	827	1	l.	l.	PROPN
cblr-13858	827	2	rev	rev	PROPN
cblr-13858	827	3	.	.	PROPN
cblr-13858	827	4	67	67	NUM
cblr-13858	827	5	,	,	PUNCT
cblr-13858	827	6	75	75	NUM
cblr-13858	827	7	(	(	PUNCT
cblr-13858	827	8	1998	1998	NUM
cblr-13858	827	9	)	)	PUNCT
cblr-13858	827	10	;	;	PUNCT
cblr-13858	827	11	william	william	PROPN
cblr-13858	827	12	k.	k.	PROPN
cblr-13858	827	13	sjostrom	sjostrom	PROPN
cblr-13858	827	14	,	,	PUNCT
cblr-13858	827	15	jr	jr	PROPN
cblr-13858	827	16	.	.	PROPN
cblr-13858	827	17	,	,	PUNCT
cblr-13858	827	18	relaxing	relax	VERB
cblr-13858	827	19	the	the	DET
cblr-13858	827	20	ban	ban	NOUN
cblr-13858	827	21	:	:	PUNCT
cblr-13858	827	22	it	it	PRON
cblr-13858	827	23	's	be	AUX
cblr-13858	827	24	time	time	NOUN
cblr-13858	827	25	to	to	PART
cblr-13858	827	26	allow	allow	VERB
cblr-13858	827	27	general	general	ADJ
cblr-13858	827	28	solicitation	solicitation	NOUN
cblr-13858	827	29	and	and	CCONJ
cblr-13858	827	30	advertising	advertising	NOUN
cblr-13858	827	31	in	in	ADP
cblr-13858	827	32	exempt	exempt	ADJ
cblr-13858	827	33	offerings	offering	NOUN
cblr-13858	827	34	,	,	PUNCT
cblr-13858	827	35	32	32	NUM
cblr-13858	827	36	fla	fla	NOUN
cblr-13858	827	37	.	.	PUNCT
cblr-13858	828	1	st	st	PROPN
cblr-13858	828	2	.	.	PROPN
cblr-13858	828	3	l.	l.	PROPN
cblr-13858	828	4	rev	rev	PROPN
cblr-13858	828	5	.	.	PROPN
cblr-13858	828	6	1	1	NUM
cblr-13858	828	7	,	,	PUNCT
cblr-13858	828	8	8	8	NUM
cblr-13858	828	9	(	(	PUNCT
cblr-13858	828	10	2004	2004	NUM
cblr-13858	828	11	)	)	PUNCT
cblr-13858	829	1	[	[	X
cblr-13858	829	2	hereinafter	hereinafter	NOUN
cblr-13858	829	3	sjostrom	sjostrom	NOUN
cblr-13858	829	4	,	,	PUNCT
cblr-13858	829	5	relaxing	relax	VERB
cblr-13858	829	6	the	the	DET
cblr-13858	829	7	ban	ban	NOUN
cblr-13858	829	8	]	]	X
cblr-13858	829	9	.	.	PUNCT
cblr-13858	829	10	.	.	PUNCT
cblr-13858	830	1	see	see	VERB
cblr-13858	830	2	kappel	kappel	NOUN
cblr-13858	830	3	,	,	PUNCT
cblr-13858	830	4	supra	supra	PROPN
cblr-13858	830	5	note	note	NOUN
cblr-13858	830	6	22	22	NUM
cblr-13858	830	7	,	,	PUNCT
cblr-13858	830	8	at	at	ADP
cblr-13858	830	9	384	384	NUM
cblr-13858	830	10	.	.	NOUN
cblr-13858	831	1	200	200	NUM
cblr-13858	831	2	a	a	DET
cblr-13858	831	3	gao	gao	PROPN
cblr-13858	831	4	report	report	NOUN
cblr-13858	831	5	estimated	estimate	VERB
cblr-13858	831	6	the	the	DET
cblr-13858	831	7	average	average	ADJ
cblr-13858	831	8	cost	cost	NOUN
cblr-13858	831	9	for	for	ADP
cblr-13858	831	10	a	a	DET
cblr-13858	831	11	$	$	SYM
cblr-13858	831	12	25	25	NUM
cblr-13858	831	13	million	million	NUM
cblr-13858	831	14	underwritten	underwritten	ADJ
cblr-13858	831	15	public	public	ADJ
cblr-13858	831	16	offering	offering	NOUN
cblr-13858	831	17	to	to	PART
cblr-13858	831	18	be	be	AUX
cblr-13858	831	19	$	$	SYM
cblr-13858	831	20	2.3	2.3	NUM
cblr-13858	831	21	million	million	NUM
cblr-13858	831	22	,	,	PUNCT
cblr-13858	831	23	but	but	CCONJ
cblr-13858	831	24	much	much	ADJ
cblr-13858	831	25	of	of	ADP
cblr-13858	831	26	that	that	PRON
cblr-13858	831	27	was	be	AUX
cblr-13858	831	28	underwriting	underwriting	NOUN
cblr-13858	831	29	discounts	discount	NOUN
cblr-13858	831	30	and	and	CCONJ
cblr-13858	831	31	commissions	commission	NOUN
cblr-13858	831	32	.	.	PUNCT
cblr-13858	832	1	u.s	u.s	PROPN
cblr-13858	832	2	.	.	PROPN
cblr-13858	832	3	gov't	gov't	PROPN
cblr-13858	832	4	.	.	PUNCT
cblr-13858	833	1	accountability	accountability	NOUN
cblr-13858	833	2	42	42	NUM
cblr-13858	833	3	col	col	PROPN
cblr-13858	833	4	umia	umia	PROPN
cblr-13858	833	5	b	b	PROPN
cblr-13858	834	1	usiness	usiness	PROPN
cblr-13858	834	2	la	la	PROPN
cblr-13858	834	3	w	w	PROPN
cblr-13858	834	4	re	re	PROPN
cblr-13858	834	5	vie	vie	PROPN
cblr-13858	834	6	w	w	PROPN
cblr-13858	835	1	[	[	X
cblr-13858	835	2	vol	vol	NOUN
cblr-13858	835	3	.	.	PUNCT
cblr-13858	835	4	2012	2012	NUM
cblr-13858	835	5	expensive	expensive	ADJ
cblr-13858	835	6	to	to	PART
cblr-13858	835	7	register	register	VERB
cblr-13858	835	8	than	than	ADP
cblr-13858	835	9	larger	large	ADJ
cblr-13858	835	10	ones,2	ones,2	NOUN
cblr-13858	835	11	01	01	NUM
cblr-13858	836	1	but	but	CCONJ
cblr-13858	836	2	the	the	DET
cblr-13858	836	3	cost	cost	NOUN
cblr-13858	836	4	is	be	AUX
cblr-13858	836	5	disproportionately	disproportionately	ADV
cblr-13858	836	6	greater	great	ADJ
cblr-13858	836	7	for	for	ADP
cblr-13858	836	8	smaller	small	ADJ
cblr-13858	836	9	offerings	offering	NOUN
cblr-13858	836	10	.	.	PUNCT
cblr-13858	837	1	second	second	ADJ
cblr-13858	837	2	,	,	PUNCT
cblr-13858	837	3	registration	registration	NOUN
cblr-13858	837	4	takes	take	VERB
cblr-13858	837	5	too	too	ADV
cblr-13858	837	6	much	much	ADJ
cblr-13858	837	7	time	time	NOUN
cblr-13858	837	8	.	.	PUNCT
cblr-13858	838	1	small	small	ADJ
cblr-13858	838	2	companies	company	NOUN
cblr-13858	838	3	often	often	ADV
cblr-13858	838	4	need	need	VERB
cblr-13858	838	5	to	to	PART
cblr-13858	838	6	raise	raise	VERB
cblr-13858	838	7	capital	capital	NOUN
cblr-13858	838	8	quickly.202	quickly.202	PROPN
cblr-13858	838	9	today	today	NOUN
cblr-13858	838	10	's	's	PART
cblr-13858	838	11	rapid	rapid	ADJ
cblr-13858	838	12	changes	change	NOUN
cblr-13858	838	13	in	in	ADP
cblr-13858	838	14	technology	technology	NOUN
cblr-13858	838	15	result	result	NOUN
cblr-13858	838	16	in	in	ADP
cblr-13858	838	17	"	"	PUNCT
cblr-13858	838	18	a	a	DET
cblr-13858	838	19	compressed	compress	VERB
cblr-13858	838	20	life	life	NOUN
cblr-13858	838	21	-	-	PUNCT
cblr-13858	838	22	time	time	NOUN
cblr-13858	838	23	and	and	CCONJ
cblr-13858	838	24	a	a	DET
cblr-13858	838	25	quicker	quick	ADJ
cblr-13858	838	26	requisite	requisite	ADJ
cblr-13858	838	27	time	time	NOUN
cblr-13858	838	28	-	-	PUNCT
cblr-13858	838	29	to	to	ADP
cblr-13858	838	30	-	-	PUNCT
cblr-13858	838	31	market	market	NOUN
cblr-13858	838	32	.	.	PUNCT
cblr-13858	839	1	"203	"203	AUX
cblr-13858	839	2	a	a	DET
cblr-13858	839	3	1996	1996	NUM
cblr-13858	839	4	report	report	NOUN
cblr-13858	839	5	indicated	indicate	VERB
cblr-13858	839	6	that	that	SCONJ
cblr-13858	839	7	the	the	DET
cblr-13858	839	8	average	average	ADJ
cblr-13858	839	9	delay	delay	NOUN
cblr-13858	839	10	between	between	ADP
cblr-13858	839	11	filing	filing	NOUN
cblr-13858	839	12	and	and	CCONJ
cblr-13858	839	13	effectiveness	effectiveness	NOUN
cblr-13858	839	14	for	for	ADP
cblr-13858	839	15	an	an	DET
cblr-13858	839	16	initial	initial	ADJ
cblr-13858	839	17	public	public	ADJ
cblr-13858	839	18	offering	offering	NOUN
cblr-13858	839	19	on	on	ADP
cblr-13858	839	20	special	special	ADJ
cblr-13858	839	21	,	,	PUNCT
cblr-13858	839	22	simplified	simplified	ADJ
cblr-13858	839	23	forms	form	NOUN
cblr-13858	839	24	then	then	ADV
cblr-13858	839	25	available	available	ADJ
cblr-13858	839	26	to	to	ADP
cblr-13858	839	27	small	small	ADJ
cblr-13858	839	28	businesses	business	NOUN
cblr-13858	839	29	was	be	AUX
cblr-13858	839	30	103.7	103.7	NUM
cblr-13858	839	31	days.204	days.204	PROPN
cblr-13858	839	32	that	that	PRON
cblr-13858	839	33	does	do	AUX
cblr-13858	839	34	not	not	PART
cblr-13858	839	35	include	include	VERB
cblr-13858	839	36	the	the	DET
cblr-13858	839	37	time	time	NOUN
cblr-13858	839	38	required	require	VERB
cblr-13858	839	39	to	to	PART
cblr-13858	839	40	prepare	prepare	VERB
cblr-13858	839	41	for	for	ADP
cblr-13858	839	42	filing	filing	NOUN
cblr-13858	839	43	.	.	PUNCT
cblr-13858	840	1	the	the	DET
cblr-13858	840	2	total	total	ADJ
cblr-13858	840	3	time	time	NOUN
cblr-13858	840	4	from	from	ADP
cblr-13858	840	5	inception	inception	NOUN
cblr-13858	840	6	to	to	ADP
cblr-13858	840	7	effectiveness	effectiveness	NOUN
cblr-13858	840	8	can	can	AUX
cblr-13858	840	9	be	be	AUX
cblr-13858	840	10	six	six	NUM
cblr-13858	840	11	months	month	NOUN
cblr-13858	840	12	-	-	PUNCT
cblr-13858	840	13	or	or	CCONJ
cblr-13858	840	14	even	even	ADV
cblr-13858	840	15	longer.205	longer.205	PRON
cblr-13858	840	16	registration	registration	NOUN
cblr-13858	840	17	,	,	PUNCT
cblr-13858	840	18	however	however	ADV
cblr-13858	840	19	,	,	PUNCT
cblr-13858	840	20	is	be	AUX
cblr-13858	840	21	not	not	PART
cblr-13858	840	22	impossible	impossible	ADJ
cblr-13858	840	23	.	.	PUNCT
cblr-13858	841	1	peer	peer	NOUN
cblr-13858	841	2	-	-	PUNCT
cblr-13858	841	3	to	to	ADP
cblr-13858	841	4	-	-	PUNCT
cblr-13858	841	5	peer	peer	NOUN
cblr-13858	841	6	lenders	lender	NOUN
cblr-13858	841	7	prosper	prosper	VERB
cblr-13858	841	8	and	and	CCONJ
cblr-13858	841	9	lending	lending	NOUN
cblr-13858	841	10	club	club	NOUN
cblr-13858	841	11	register	register	VERB
cblr-13858	841	12	the	the	DET
cblr-13858	841	13	notes	note	NOUN
cblr-13858	841	14	they	they	PRON
cblr-13858	841	15	offer	offer	VERB
cblr-13858	841	16	,	,	PUNCT
cblr-13858	841	17	but	but	CCONJ
cblr-13858	841	18	they	they	PRON
cblr-13858	841	19	had	have	VERB
cblr-13858	841	20	to	to	PART
cblr-13858	841	21	completely	completely	ADV
cblr-13858	841	22	restructure	restructure	VERB
cblr-13858	841	23	their	their	PRON
cblr-13858	841	24	business	business	NOUN
cblr-13858	841	25	office	office	NOUN
cblr-13858	841	26	,	,	PUNCT
cblr-13858	841	27	gao	gao	PROPN
cblr-13858	841	28	,	,	PUNCT
cblr-13858	841	29	gao	gao	PROPN
cblr-13858	841	30	/	/	SYM
cblr-13858	841	31	ggd-00190	ggd-00190	NOUN
cblr-13858	841	32	,	,	PUNCT
cblr-13858	841	33	small	small	ADJ
cblr-13858	841	34	business	business	NOUN
cblr-13858	841	35	:	:	PUNCT
cblr-13858	841	36	efforts	effort	NOUN
cblr-13858	841	37	to	to	PART
cblr-13858	841	38	facilitate	facilitate	VERB
cblr-13858	841	39	equity	equity	NOUN
cblr-13858	841	40	capital	capital	NOUN
cblr-13858	841	41	formation	formation	NOUN
cblr-13858	841	42	23	23	NUM
cblr-13858	841	43	(	(	PUNCT
cblr-13858	841	44	2000	2000	NUM
cblr-13858	841	45	)	)	PUNCT
cblr-13858	842	1	[	[	X
cblr-13858	842	2	hereinafter	hereinafter	NOUN
cblr-13858	842	3	gao	gao	PROPN
cblr-13858	842	4	report	report	PROPN
cblr-13858	842	5	]	]	PUNCT
cblr-13858	842	6	.	.	PUNCT
cblr-13858	843	1	the	the	DET
cblr-13858	843	2	estimated	estimate	VERB
cblr-13858	843	3	cost	cost	NOUN
cblr-13858	843	4	included	include	VERB
cblr-13858	843	5	$	$	SYM
cblr-13858	843	6	9,914	9,914	NUM
cblr-13858	843	7	for	for	ADP
cblr-13858	843	8	sec	sec	PROPN
cblr-13858	843	9	registration	registration	NOUN
cblr-13858	843	10	fees	fee	NOUN
cblr-13858	843	11	,	,	PUNCT
cblr-13858	843	12	$	$	SYM
cblr-13858	843	13	160,000	160,000	NUM
cblr-13858	843	14	for	for	ADP
cblr-13858	843	15	accounting	accounting	NOUN
cblr-13858	843	16	fees	fee	NOUN
cblr-13858	843	17	and	and	CCONJ
cblr-13858	843	18	expenses	expense	NOUN
cblr-13858	843	19	,	,	PUNCT
cblr-13858	843	20	$	$	SYM
cblr-13858	843	21	200,000	200,000	NUM
cblr-13858	843	22	for	for	ADP
cblr-13858	843	23	legal	legal	ADJ
cblr-13858	843	24	fees	fee	NOUN
cblr-13858	843	25	and	and	CCONJ
cblr-13858	843	26	expenses	expense	NOUN
cblr-13858	843	27	,	,	PUNCT
cblr-13858	843	28	and	and	CCONJ
cblr-13858	843	29	$	$	SYM
cblr-13858	843	30	100,000	100,000	NUM
cblr-13858	843	31	for	for	ADP
cblr-13858	843	32	printing	printing	NOUN
cblr-13858	843	33	fees	fee	NOUN
cblr-13858	843	34	and	and	CCONJ
cblr-13858	843	35	expenses	expense	NOUN
cblr-13858	843	36	.	.	PUNCT
cblr-13858	844	1	i	i	PRON
cblr-13858	844	2	d.	d.	PROPN
cblr-13858	844	3	another	another	DET
cblr-13858	844	4	source	source	NOUN
cblr-13858	844	5	provides	provide	VERB
cblr-13858	844	6	the	the	DET
cblr-13858	844	7	following	follow	VERB
cblr-13858	844	8	estimates	estimate	NOUN
cblr-13858	844	9	for	for	ADP
cblr-13858	844	10	a	a	DET
cblr-13858	844	11	form	form	NOUN
cblr-13858	844	12	s-1	s-1	NOUN
cblr-13858	844	13	public	public	ADJ
cblr-13858	844	14	offering	offering	NOUN
cblr-13858	844	15	:	:	PUNCT
cblr-13858	844	16	underwriting	underwriting	NOUN
cblr-13858	844	17	fees	fee	NOUN
cblr-13858	844	18	715	715	NUM
cblr-13858	844	19	%	%	NOUN
cblr-13858	844	20	of	of	ADP
cblr-13858	844	21	the	the	DET
cblr-13858	844	22	offering	offering	NOUN
cblr-13858	844	23	amount	amount	NOUN
cblr-13858	844	24	;	;	PUNCT
cblr-13858	844	25	registration	registration	NOUN
cblr-13858	844	26	fees	fee	NOUN
cblr-13858	844	27	1/29	1/29	NUM
cblr-13858	844	28	of	of	ADP
cblr-13858	844	29	1	1	NUM
cblr-13858	844	30	%	%	NOUN
cblr-13858	844	31	;	;	PUNCT
cblr-13858	844	32	printing	printing	NOUN
cblr-13858	844	33	costs	cost	VERB
cblr-13858	844	34	$	$	SYM
cblr-13858	844	35	2,500	2,500	NUM
cblr-13858	844	36	-	-	SYM
cblr-13858	844	37	75,000	75,000	NUM
cblr-13858	844	38	;	;	PUNCT
cblr-13858	844	39	engraving	engraving	NOUN
cblr-13858	844	40	of	of	ADP
cblr-13858	844	41	certificates	certificate	NOUN
cblr-13858	844	42	$	$	SYM
cblr-13858	844	43	2,500	2,500	NUM
cblr-13858	844	44	-	-	SYM
cblr-13858	844	45	4,000	4,000	NUM
cblr-13858	844	46	;	;	PUNCT
cblr-13858	844	47	legal	legal	ADJ
cblr-13858	844	48	costs	cost	NOUN
cblr-13858	844	49	-3	-3	NOUN
cblr-13858	844	50	%	%	NOUN
cblr-13858	844	51	of	of	ADP
cblr-13858	844	52	the	the	DET
cblr-13858	844	53	offering	offering	NOUN
cblr-13858	844	54	amount	amount	NOUN
cblr-13858	844	55	;	;	PUNCT
cblr-13858	844	56	accounting	accounting	NOUN
cblr-13858	844	57	costs	cost	VERB
cblr-13858	844	58	$	$	SYM
cblr-13858	844	59	25,000	25,000	NUM
cblr-13858	844	60	-	-	PUNCT
cblr-13858	844	61	250,000	250,000	NUM
cblr-13858	844	62	;	;	PUNCT
cblr-13858	844	63	experts	expert	NOUN
cblr-13858	844	64	$	$	SYM
cblr-13858	844	65	30015,000	30015,000	NUM
cblr-13858	844	66	;	;	PUNCT
cblr-13858	844	67	state	state	NOUN
cblr-13858	844	68	filing	filing	NOUN
cblr-13858	844	69	fees	fee	NOUN
cblr-13858	844	70	$	$	SYM
cblr-13858	844	71	150	150	NUM
cblr-13858	844	72	-	-	SYM
cblr-13858	844	73	4,000	4,000	NUM
cblr-13858	844	74	per	per	ADP
cblr-13858	844	75	state	state	NOUN
cblr-13858	844	76	;	;	PUNCT
cblr-13858	844	77	and	and	CCONJ
cblr-13858	844	78	nasd	nasd	NOUN
cblr-13858	844	79	filing	filing	NOUN
cblr-13858	844	80	fees	fee	NOUN
cblr-13858	844	81	$	$	SYM
cblr-13858	844	82	50030,500	50030,500	NUM
cblr-13858	844	83	.	.	PUNCT
cblr-13858	845	1	william	william	PROPN
cblr-13858	845	2	m.	m.	PROPN
cblr-13858	845	3	prifti	prifti	PROPN
cblr-13858	845	4	,	,	PUNCT
cblr-13858	845	5	24	24	NUM
cblr-13858	845	6	securities	security	NOUN
cblr-13858	845	7	:	:	PUNCT
cblr-13858	845	8	public	public	ADJ
cblr-13858	845	9	and	and	CCONJ
cblr-13858	845	10	private	private	ADJ
cblr-13858	845	11	offerings	offering	NOUN
cblr-13858	845	12	§	§	PROPN
cblr-13858	845	13	1a:17	1a:17	NUM
cblr-13858	845	14	(	(	PUNCT
cblr-13858	845	15	2d	2d	NUM
cblr-13858	845	16	ed	ed	NOUN
cblr-13858	845	17	.	.	PUNCT
cblr-13858	845	18	2010	2010	NUM
cblr-13858	845	19	)	)	PUNCT
cblr-13858	845	20	.	.	PUNCT
cblr-13858	846	1	see	see	VERB
cblr-13858	846	2	also	also	ADV
cblr-13858	846	3	william	william	PROPN
cblr-13858	846	4	k.	k.	PROPN
cblr-13858	846	5	sjostrom	sjostrom	PROPN
cblr-13858	846	6	,	,	PUNCT
cblr-13858	846	7	jr	jr	PROPN
cblr-13858	846	8	.	.	PROPN
cblr-13858	846	9	,	,	PUNCT
cblr-13858	846	10	going	go	VERB
cblr-13858	846	11	public	public	ADJ
cblr-13858	846	12	through	through	ADP
cblr-13858	846	13	an	an	DET
cblr-13858	846	14	internet	internet	NOUN
cblr-13858	846	15	direct	direct	ADJ
cblr-13858	846	16	public	public	ADJ
cblr-13858	846	17	offering	offering	NOUN
cblr-13858	846	18	:	:	PUNCT
cblr-13858	846	19	a	a	DET
cblr-13858	846	20	sensible	sensible	ADJ
cblr-13858	846	21	alternative	alternative	NOUN
cblr-13858	846	22	for	for	ADP
cblr-13858	846	23	small	small	ADJ
cblr-13858	846	24	companies	company	NOUN
cblr-13858	846	25	?	?	PUNCT
cblr-13858	846	26	,	,	PUNCT
cblr-13858	846	27	53	53	NUM
cblr-13858	846	28	fla	fla	NOUN
cblr-13858	846	29	.	.	PUNCT
cblr-13858	847	1	l.	l.	PROPN
cblr-13858	847	2	rev	rev	PROPN
cblr-13858	847	3	.	.	PROPN
cblr-13858	847	4	529	529	NUM
cblr-13858	847	5	,	,	PUNCT
cblr-13858	847	6	575	575	NUM
cblr-13858	847	7	-	-	SYM
cblr-13858	847	8	76	76	NUM
cblr-13858	847	9	(	(	PUNCT
cblr-13858	847	10	2001	2001	NUM
cblr-13858	847	11	)	)	PUNCT
cblr-13858	848	1	[	[	X
cblr-13858	848	2	hereinafter	hereinafter	NOUN
cblr-13858	848	3	sjostrom	sjostrom	NOUN
cblr-13858	848	4	,	,	PUNCT
cblr-13858	848	5	going	go	VERB
cblr-13858	848	6	public	public	ADJ
cblr-13858	848	7	]	]	PUNCT
cblr-13858	848	8	(	(	PUNCT
cblr-13858	848	9	finding	find	VERB
cblr-13858	848	10	that	that	PRON
cblr-13858	848	11	legal	legal	ADJ
cblr-13858	848	12	,	,	PUNCT
cblr-13858	848	13	accounting	accounting	NOUN
cblr-13858	848	14	,	,	PUNCT
cblr-13858	848	15	filing	filing	NOUN
cblr-13858	848	16	,	,	PUNCT
cblr-13858	848	17	and	and	CCONJ
cblr-13858	848	18	other	other	ADJ
cblr-13858	848	19	fees	fee	NOUN
cblr-13858	848	20	for	for	ADP
cblr-13858	848	21	an	an	DET
cblr-13858	848	22	underwritten	underwritten	ADJ
cblr-13858	848	23	public	public	ADJ
cblr-13858	848	24	offering	offering	NOUN
cblr-13858	848	25	generally	generally	ADV
cblr-13858	848	26	range	range	VERB
cblr-13858	848	27	from	from	ADP
cblr-13858	848	28	$	$	SYM
cblr-13858	848	29	300,000	300,000	NUM
cblr-13858	848	30	to	to	PART
cblr-13858	848	31	$	$	SYM
cblr-13858	848	32	500,000	500,000	NUM
cblr-13858	848	33	)	)	PUNCT
cblr-13858	848	34	.	.	PUNCT
cblr-13858	849	1	201	201	NUM
cblr-13858	849	2	carl	carl	PROPN
cblr-13858	849	3	w.	w.	PROPN
cblr-13858	849	4	schneider	schneider	PROPN
cblr-13858	849	5	et	et	PROPN
cblr-13858	849	6	al	al	PROPN
cblr-13858	849	7	.	.	PROPN
cblr-13858	849	8	,	,	PUNCT
cblr-13858	849	9	going	go	VERB
cblr-13858	849	10	public	public	ADJ
cblr-13858	849	11	:	:	PUNCT
cblr-13858	849	12	practice	practice	NOUN
cblr-13858	849	13	,	,	PUNCT
cblr-13858	849	14	procedure	procedure	NOUN
cblr-13858	849	15	and	and	CCONJ
cblr-13858	849	16	consequences	consequence	NOUN
cblr-13858	849	17	,	,	PUNCT
cblr-13858	849	18	27	27	NUM
cblr-13858	849	19	vill	vill	NOUN
cblr-13858	849	20	.	.	PUNCT
cblr-13858	850	1	l.	l.	PROPN
cblr-13858	850	2	rev	rev	PROPN
cblr-13858	850	3	.	.	PROPN
cblr-13858	850	4	1	1	NUM
cblr-13858	850	5	,	,	PUNCT
cblr-13858	850	6	32	32	NUM
cblr-13858	850	7	(	(	PUNCT
cblr-13858	850	8	1981	1981	NUM
cblr-13858	850	9	)	)	PUNCT
cblr-13858	850	10	.	.	PUNCT
cblr-13858	851	1	202	202	NUM
cblr-13858	851	2	lawton	lawton	PROPN
cblr-13858	851	3	&	&	CCONJ
cblr-13858	851	4	marom	marom	PROPN
cblr-13858	851	5	,	,	PUNCT
cblr-13858	851	6	supra	supra	ADJ
cblr-13858	851	7	note	note	NOUN
cblr-13858	851	8	2	2	NUM
cblr-13858	851	9	,	,	PUNCT
cblr-13858	851	10	at	at	ADP
cblr-13858	851	11	37	37	NUM
cblr-13858	851	12	-	-	SYM
cblr-13858	851	13	38	38	NUM
cblr-13858	851	14	;	;	PUNCT
cblr-13858	851	15	cohn	cohn	PROPN
cblr-13858	851	16	&	&	CCONJ
cblr-13858	851	17	yadley	yadley	PROPN
cblr-13858	851	18	,	,	PUNCT
cblr-13858	851	19	supra	supra	PROPN
cblr-13858	851	20	note	note	PROPN
cblr-13858	851	21	11	11	NUM
cblr-13858	851	22	,	,	PUNCT
cblr-13858	851	23	at	at	ADP
cblr-13858	851	24	80	80	NUM
cblr-13858	851	25	.	.	PUNCT
cblr-13858	851	26	2	2	NUM
cblr-13858	851	27	'	'	PART
cblr-13858	851	28	lawton	lawton	PROPN
cblr-13858	851	29	&	&	CCONJ
cblr-13858	851	30	marom	marom	PROPN
cblr-13858	851	31	,	,	PUNCT
cblr-13858	851	32	supra	supra	ADJ
cblr-13858	851	33	note	note	NOUN
cblr-13858	851	34	2	2	NUM
cblr-13858	851	35	,	,	PUNCT
cblr-13858	851	36	at	at	ADP
cblr-13858	851	37	37	37	NUM
cblr-13858	851	38	.	.	NOUN
cblr-13858	851	39	204	204	NUM
cblr-13858	851	40	sec	sec	PROPN
cblr-13858	851	41	,	,	PUNCT
cblr-13858	851	42	report	report	NOUN
cblr-13858	851	43	of	of	ADP
cblr-13858	851	44	the	the	DET
cblr-13858	851	45	advisory	advisory	ADJ
cblr-13858	851	46	committee	committee	NOUN
cblr-13858	851	47	on	on	ADP
cblr-13858	851	48	the	the	DET
cblr-13858	851	49	capital	capital	NOUN
cblr-13858	851	50	formation	formation	NOUN
cblr-13858	851	51	and	and	CCONJ
cblr-13858	851	52	regulatory	regulatory	ADJ
cblr-13858	851	53	processes	process	NOUN
cblr-13858	851	54	[	[	X
cblr-13858	851	55	1996	1996	NUM
cblr-13858	851	56	-	-	SYM
cblr-13858	851	57	1997	1997	NUM
cblr-13858	851	58	transfer	transfer	NOUN
cblr-13858	851	59	binder	binder	NOUN
cblr-13858	851	60	]	]	PUNCT
cblr-13858	851	61	fed	fed	PROPN
cblr-13858	851	62	.	.	PUNCT
cblr-13858	852	1	sec	sec	PROPN
cblr-13858	852	2	.	.	PROPN
cblr-13858	852	3	l.	l.	PROPN
cblr-13858	852	4	rep	rep	PROPN
cblr-13858	852	5	.	.	PROPN
cblr-13858	852	6	(	(	PUNCT
cblr-13858	852	7	cch	cch	PROPN
cblr-13858	852	8	)	)	PUNCT
cblr-13858	852	9	85,834	85,834	NUM
cblr-13858	852	10	,	,	PUNCT
cblr-13858	852	11	at	at	ADP
cblr-13858	852	12	88,439	88,439	NUM
cblr-13858	852	13	tbl	tbl	NOUN
cblr-13858	852	14	.	.	PUNCT
cblr-13858	853	1	2	2	NUM
cblr-13858	853	2	(	(	PUNCT
cblr-13858	853	3	july	july	PROPN
cblr-13858	853	4	24	24	NUM
cblr-13858	853	5	,	,	PUNCT
cblr-13858	853	6	1996	1996	NUM
cblr-13858	853	7	)	)	PUNCT
cblr-13858	853	8	,	,	PUNCT
cblr-13858	853	9	available	available	ADJ
cblr-13858	853	10	at	at	ADP
cblr-13858	853	11	http://www.sec.gov/news/studies/capform.htm	http://www.sec.gov/news/studies/capform.htm	PROPN
cblr-13858	853	12	.	.	PUNCT
cblr-13858	854	1	20	20	NUM
cblr-13858	854	2	'	'	PUNCT
cblr-13858	854	3	see	see	VERB
cblr-13858	854	4	cohn	cohn	PROPN
cblr-13858	854	5	&	&	CCONJ
cblr-13858	854	6	yadley	yadley	PROPN
cblr-13858	854	7	,	,	PUNCT
cblr-13858	854	8	supra	supra	PROPN
cblr-13858	854	9	note	note	PROPN
cblr-13858	854	10	11	11	NUM
cblr-13858	854	11	,	,	PUNCT
cblr-13858	854	12	at	at	ADP
cblr-13858	854	13	7	7	NUM
cblr-13858	854	14	.	.	PUNCT
cblr-13858	854	15	crowdfunding	crowdfunding	NOUN
cblr-13858	854	16	and	and	CCONJ
cblr-13858	854	17	securities	security	NOUN
cblr-13858	854	18	la	la	PROPN
cblr-13858	854	19	ws	ws	PROPN
cblr-13858	854	20	43no	43no	PROPN
cblr-13858	854	21	.	.	PUNCT
cblr-13858	855	1	1:1]1	1:1]1	NUM
cblr-13858	855	2	models	model	NOUN
cblr-13858	855	3	to	to	PART
cblr-13858	855	4	make	make	VERB
cblr-13858	855	5	it	it	PRON
cblr-13858	855	6	work	work	VERB
cblr-13858	855	7	.	.	PUNCT
cblr-13858	856	1	instead	instead	ADV
cblr-13858	856	2	of	of	ADP
cblr-13858	856	3	investors	investor	NOUN
cblr-13858	856	4	providing	provide	VERB
cblr-13858	856	5	money	money	NOUN
cblr-13858	856	6	directly	directly	ADV
cblr-13858	856	7	to	to	ADP
cblr-13858	856	8	the	the	DET
cblr-13858	856	9	underlying	underlie	VERB
cblr-13858	856	10	entrepreneurs	entrepreneur	NOUN
cblr-13858	856	11	,	,	PUNCT
cblr-13858	856	12	investors	investor	NOUN
cblr-13858	856	13	loan	loan	VERB
cblr-13858	856	14	money	money	NOUN
cblr-13858	856	15	to	to	ADP
cblr-13858	856	16	the	the	DET
cblr-13858	856	17	sites	site	NOUN
cblr-13858	856	18	themselves	themselves	PRON
cblr-13858	856	19	,	,	PUNCT
cblr-13858	856	20	and	and	CCONJ
cblr-13858	856	21	the	the	DET
cblr-13858	856	22	sites	site	NOUN
cblr-13858	856	23	issue	issue	VERB
cblr-13858	856	24	nonrecourse	nonrecourse	NOUN
cblr-13858	856	25	notes	note	NOUN
cblr-13858	856	26	dependent	dependent	ADJ
cblr-13858	856	27	on	on	ADP
cblr-13858	856	28	payment	payment	NOUN
cblr-13858	856	29	by	by	ADP
cblr-13858	856	30	the	the	DET
cblr-13858	856	31	underlying	underlie	VERB
cblr-13858	856	32	borrower.2	borrower.2	NOUN
cblr-13858	856	33	0	0	NUM
cblr-13858	856	34	6	6	NUM
cblr-13858	856	35	prosper	prosper	NOUN
cblr-13858	856	36	and	and	CCONJ
cblr-13858	856	37	lending	lending	NOUN
cblr-13858	856	38	club	club	NOUN
cblr-13858	856	39	each	each	PRON
cblr-13858	856	40	file	file	VERB
cblr-13858	856	41	a	a	DET
cblr-13858	856	42	single	single	ADJ
cblr-13858	856	43	shelf	shelf	NOUN
cblr-13858	856	44	registration	registration	NOUN
cblr-13858	856	45	statement	statement	NOUN
cblr-13858	856	46	for	for	ADP
cblr-13858	856	47	all	all	PRON
cblr-13858	856	48	of	of	ADP
cblr-13858	856	49	the	the	DET
cblr-13858	856	50	notes	note	NOUN
cblr-13858	856	51	they	they	PRON
cblr-13858	856	52	issue	issue	VERB
cblr-13858	856	53	,	,	PUNCT
cblr-13858	856	54	with	with	SCONJ
cblr-13858	856	55	each	each	DET
cblr-13858	856	56	funding	funding	NOUN
cblr-13858	856	57	treated	treat	VERB
cblr-13858	856	58	as	as	ADP
cblr-13858	856	59	a	a	DET
cblr-13858	856	60	separate	separate	ADJ
cblr-13858	856	61	series	series	NOUN
cblr-13858	856	62	requiring	require	VERB
cblr-13858	856	63	its	its	PRON
cblr-13858	856	64	own	own	ADJ
cblr-13858	856	65	prospectus	prospectus	NOUN
cblr-13858	856	66	supplement.20	supplement.20	PROPN
cblr-13858	856	67	7	7	NUM
cblr-13858	856	68	this	this	DET
cblr-13858	856	69	mechanism	mechanism	NOUN
cblr-13858	856	70	is	be	AUX
cblr-13858	856	71	costly	costly	ADJ
cblr-13858	856	72	,	,	PUNCT
cblr-13858	856	73	burdensome	burdensome	ADJ
cblr-13858	856	74	,	,	PUNCT
cblr-13858	856	75	and	and	CCONJ
cblr-13858	856	76	does	do	AUX
cblr-13858	856	77	not	not	PART
cblr-13858	856	78	translate	translate	VERB
cblr-13858	856	79	easily	easily	ADV
cblr-13858	856	80	to	to	ADP
cblr-13858	856	81	equity	equity	NOUN
cblr-13858	856	82	crowdfunding	crowdfunding	NOUN
cblr-13858	856	83	.	.	PUNCT
cblr-13858	857	1	2	2	X
cblr-13858	857	2	.	.	X
cblr-13858	857	3	possible	possible	ADJ
cblr-13858	857	4	exemptions	exemption	NOUN
cblr-13858	857	5	under	under	ADP
cblr-13858	857	6	current	current	ADJ
cblr-13858	857	7	law	law	NOUN
cblr-13858	857	8	companies	company	NOUN
cblr-13858	857	9	selling	sell	VERB
cblr-13858	857	10	securities	security	NOUN
cblr-13858	857	11	on	on	ADP
cblr-13858	857	12	crowdfunding	crowdfunde	VERB
cblr-13858	857	13	sites	site	NOUN
cblr-13858	857	14	could	could	AUX
cblr-13858	857	15	avoid	avoid	VERB
cblr-13858	857	16	registration	registration	NOUN
cblr-13858	857	17	if	if	SCONJ
cblr-13858	857	18	an	an	DET
cblr-13858	857	19	exemption	exemption	NOUN
cblr-13858	857	20	were	be	AUX
cblr-13858	857	21	available.208	available.208	VERB
cblr-13858	857	22	several	several	ADJ
cblr-13858	857	23	exemptions	exemption	NOUN
cblr-13858	857	24	might	might	AUX
cblr-13858	857	25	possibly	possibly	ADV
cblr-13858	857	26	apply	apply	VERB
cblr-13858	857	27	:	:	PUNCT
cblr-13858	857	28	the	the	DET
cblr-13858	857	29	private	private	ADJ
cblr-13858	857	30	offering	offering	NOUN
cblr-13858	857	31	exemption	exemption	NOUN
cblr-13858	857	32	in	in	ADP
cblr-13858	857	33	section	section	NOUN
cblr-13858	857	34	4(2	4(2	NUM
cblr-13858	857	35	)	)	PUNCT
cblr-13858	857	36	of	of	ADP
cblr-13858	857	37	the	the	DET
cblr-13858	857	38	securities	security	NOUN
cblr-13858	857	39	act209	act209	NOUN
cblr-13858	857	40	or	or	CCONJ
cblr-13858	857	41	its	its	PRON
cblr-13858	857	42	regulatory	regulatory	ADJ
cblr-13858	857	43	safe	safe	ADJ
cblr-13858	857	44	harbor	harbor	NOUN
cblr-13858	857	45	,	,	PUNCT
cblr-13858	857	46	rule	rule	VERB
cblr-13858	857	47	506	506	NUM
cblr-13858	857	48	of	of	ADP
cblr-13858	857	49	regulation	regulation	NOUN
cblr-13858	857	50	d;21o	d;21o	NOUN
cblr-13858	857	51	section	section	NOUN
cblr-13858	857	52	4(5	4(5	PROPN
cblr-13858	857	53	)	)	PUNCT
cblr-13858	857	54	of	of	ADP
cblr-13858	857	55	the	the	DET
cblr-13858	857	56	securities	security	NOUN
cblr-13858	857	57	act;21	act;21	NOUN
cblr-13858	857	58	'	'	PUNCT
cblr-13858	857	59	rule	rule	NOUN
cblr-13858	857	60	504	504	NUM
cblr-13858	857	61	of	of	ADP
cblr-13858	857	62	regulation	regulation	NOUN
cblr-13858	857	63	d;21	d;21	PROPN
cblr-13858	857	64	2	2	NUM
cblr-13858	857	65	rule	rule	NOUN
cblr-13858	857	66	505	505	NUM
cblr-13858	857	67	of	of	ADP
cblr-13858	857	68	regulation	regulation	NOUN
cblr-13858	857	69	d;213	d;213	NOUN
cblr-13858	857	70	or	or	CCONJ
cblr-13858	857	71	regulation	regulation	NOUN
cblr-13858	857	72	a.2	a.2	NOUN
cblr-13858	857	73	14	14	NUM
cblr-13858	857	74	unfortunately	unfortunately	ADV
cblr-13858	857	75	,	,	PUNCT
cblr-13858	857	76	none	none	NOUN
cblr-13858	857	77	of	of	ADP
cblr-13858	857	78	those	those	DET
cblr-13858	857	79	exemptions	exemption	NOUN
cblr-13858	857	80	is	be	AUX
cblr-13858	857	81	conducive	conducive	ADJ
cblr-13858	857	82	to	to	ADP
cblr-13858	857	83	crowdfunding.21	crowdfunding.21	NOUN
cblr-13858	857	84	5	5	NUM
cblr-13858	857	85	2	2	NUM
cblr-13858	857	86	"	"	PUNCT
cblr-13858	857	87	see	see	VERB
cblr-13858	857	88	supra	supra	ADJ
cblr-13858	857	89	text	text	NOUN
cblr-13858	857	90	accompanying	accompanying	ADJ
cblr-13858	857	91	notes	note	NOUN
cblr-13858	857	92	86	86	NUM
cblr-13858	857	93	-	-	SYM
cblr-13858	857	94	91	91	NUM
cblr-13858	857	95	.	.	PUNCT
cblr-13858	858	1	207	207	NUM
cblr-13858	858	2	see	see	VERB
cblr-13858	858	3	verstein	verstein	NOUN
cblr-13858	858	4	,	,	PUNCT
cblr-13858	858	5	supra	supra	PROPN
cblr-13858	858	6	note	note	NOUN
cblr-13858	858	7	12	12	NUM
cblr-13858	858	8	.	.	PUNCT
cblr-13858	859	1	this	this	PRON
cblr-13858	859	2	requires	require	VERB
cblr-13858	859	3	platforms	platform	NOUN
cblr-13858	859	4	to	to	PART
cblr-13858	859	5	file	file	VERB
cblr-13858	859	6	two	two	NUM
cblr-13858	859	7	or	or	CCONJ
cblr-13858	859	8	three	three	NUM
cblr-13858	859	9	times	time	NOUN
cblr-13858	859	10	a	a	DET
cblr-13858	859	11	day	day	NOUN
cblr-13858	859	12	.	.	PUNCT
cblr-13858	860	1	i	i	PRON
cblr-13858	860	2	d.	d.	PROPN
cblr-13858	860	3	at	at	ADP
cblr-13858	860	4	45	45	NUM
cblr-13858	860	5	-	-	SYM
cblr-13858	860	6	46	46	NUM
cblr-13858	860	7	.	.	PUNCT
cblr-13858	861	1	each	each	PRON
cblr-13858	861	2	of	of	ADP
cblr-13858	861	3	those	those	DET
cblr-13858	861	4	prospectus	prospectus	NOUN
cblr-13858	861	5	,	,	PUNCT
cblr-13858	861	6	supplements	supplement	NOUN
cblr-13858	861	7	must	must	AUX
cblr-13858	861	8	contain	contain	VERB
cblr-13858	861	9	all	all	PRON
cblr-13858	861	10	of	of	ADP
cblr-13858	861	11	the	the	DET
cblr-13858	861	12	borrower	borrower	NOUN
cblr-13858	861	13	information	information	NOUN
cblr-13858	861	14	available	available	ADJ
cblr-13858	861	15	on	on	ADP
cblr-13858	861	16	the	the	DET
cblr-13858	861	17	platform	platform	NOUN
cblr-13858	861	18	,	,	PUNCT
cblr-13858	861	19	"	"	PUNCT
cblr-13858	861	20	no	no	ADV
cblr-13858	861	21	matter	matter	ADV
cblr-13858	861	22	how	how	SCONJ
cblr-13858	861	23	trivial	trivial	ADJ
cblr-13858	861	24	.	.	PUNCT
cblr-13858	861	25	"	"	PUNCT
cblr-13858	862	1	i	i	PRON
cblr-13858	862	2	d.	d.	PROPN
cblr-13858	862	3	at	at	ADP
cblr-13858	862	4	44	44	NUM
cblr-13858	862	5	.	.	PUNCT
cblr-13858	863	1	200	200	NUM
cblr-13858	863	2	these	these	DET
cblr-13858	863	3	exemptions	exemption	NOUN
cblr-13858	863	4	would	would	AUX
cblr-13858	863	5	only	only	ADV
cblr-13858	863	6	free	free	ADJ
cblr-13858	863	7	entrepreneurs	entrepreneur	NOUN
cblr-13858	863	8	from	from	ADP
cblr-13858	863	9	the	the	DET
cblr-13858	863	10	registration	registration	NOUN
cblr-13858	863	11	requirements	requirement	NOUN
cblr-13858	863	12	of	of	ADP
cblr-13858	863	13	the	the	DET
cblr-13858	863	14	securities	security	NOUN
cblr-13858	863	15	act	act	PROPN
cblr-13858	863	16	.	.	PUNCT
cblr-13858	864	1	entrepreneurs	entrepreneur	NOUN
cblr-13858	864	2	selling	sell	VERB
cblr-13858	864	3	securities	security	NOUN
cblr-13858	864	4	would	would	AUX
cblr-13858	864	5	still	still	ADV
cblr-13858	864	6	be	be	AUX
cblr-13858	864	7	subject	subject	ADJ
cblr-13858	864	8	to	to	ADP
cblr-13858	864	9	the	the	DET
cblr-13858	864	10	antifraud	antifraud	PROPN
cblr-13858	864	11	provisions	provision	NOUN
cblr-13858	864	12	of	of	ADP
cblr-13858	864	13	the	the	DET
cblr-13858	864	14	securities	securities	PROPN
cblr-13858	864	15	and	and	CCONJ
cblr-13858	864	16	exchange	exchange	PROPN
cblr-13858	864	17	act	act	PROPN
cblr-13858	864	18	,	,	PUNCT
cblr-13858	864	19	including	include	VERB
cblr-13858	864	20	rule	rule	NOUN
cblr-13858	864	21	10b-5	10b-5	NUM
cblr-13858	864	22	.	.	PUNCT
cblr-13858	865	1	2	2	NUM
cblr-13858	865	2	"	"	PUNCT
cblr-13858	865	3	securities	security	NOUN
cblr-13858	865	4	act	act	NOUN
cblr-13858	865	5	of	of	ADP
cblr-13858	865	6	1933	1933	NUM
cblr-13858	865	7	§	§	PROPN
cblr-13858	865	8	4(2	4(2	NUM
cblr-13858	865	9	)	)	PUNCT
cblr-13858	865	10	,	,	PUNCT
cblr-13858	865	11	15	15	NUM
cblr-13858	865	12	u.s.c	u.s.c	ADJ
cblr-13858	865	13	.	.	PUNCT
cblr-13858	866	1	§	§	PROPN
cblr-13858	866	2	77d	77d	NOUN
cblr-13858	866	3	(	(	PUNCT
cblr-13858	866	4	2	2	NUM
cblr-13858	866	5	)	)	PUNCT
cblr-13858	866	6	(	(	PUNCT
cblr-13858	866	7	2010	2010	NUM
cblr-13858	866	8	)	)	PUNCT
cblr-13858	866	9	.	.	PUNCT
cblr-13858	867	1	210	210	NUM
cblr-13858	867	2	securities	security	NOUN
cblr-13858	867	3	act	act	NOUN
cblr-13858	867	4	rule	rule	VERB
cblr-13858	867	5	506	506	NUM
cblr-13858	867	6	,	,	PUNCT
cblr-13858	867	7	17	17	NUM
cblr-13858	867	8	c.f.r	c.f.r	NOUN
cblr-13858	867	9	.	.	PUNCT
cblr-13858	868	1	§	§	PROPN
cblr-13858	868	2	230.506	230.506	NUM
cblr-13858	868	3	(	(	PUNCT
cblr-13858	868	4	2012	2012	NUM
cblr-13858	868	5	)	)	PUNCT
cblr-13858	868	6	.	.	PUNCT
cblr-13858	869	1	211	211	NUM
cblr-13858	869	2	15	15	NUM
cblr-13858	869	3	u.s.c	u.s.c	NOUN
cblr-13858	869	4	.	.	PUNCT
cblr-13858	870	1	§	§	PROPN
cblr-13858	870	2	77d(5	77d(5	NUM
cblr-13858	870	3	)	)	PUNCT
cblr-13858	870	4	.	.	PUNCT
cblr-13858	871	1	212	212	NUM
cblr-13858	871	2	17	17	NUM
cblr-13858	871	3	c.f.r	c.f.r	NOUN
cblr-13858	871	4	.	.	PUNCT
cblr-13858	872	1	§	§	PROPN
cblr-13858	872	2	230.504	230.504	NUM
cblr-13858	872	3	.	.	PUNCT
cblr-13858	872	4	213	213	NUM
cblr-13858	872	5	17	17	NUM
cblr-13858	872	6	c.f.r	c.f.r	NOUN
cblr-13858	872	7	.	.	PUNCT
cblr-13858	873	1	§	§	PROPN
cblr-13858	873	2	230.505	230.505	NUM
cblr-13858	873	3	.	.	PUNCT
cblr-13858	874	1	214	214	NUM
cblr-13858	874	2	17	17	NUM
cblr-13858	874	3	c.f.r	c.f.r	NOUN
cblr-13858	874	4	.	.	PUNCT
cblr-13858	875	1	§	§	PROPN
cblr-13858	875	2	230.251	230.251	NUM
cblr-13858	875	3	et	et	PROPN
cblr-13858	875	4	seq	seq	NOUN
cblr-13858	875	5	.	.	PROPN
cblr-13858	876	1	215	215	NUM
cblr-13858	876	2	see	see	VERB
cblr-13858	876	3	cohn	cohn	PROPN
cblr-13858	876	4	&	&	CCONJ
cblr-13858	876	5	yadley	yadley	PROPN
cblr-13858	876	6	,	,	PUNCT
cblr-13858	876	7	supra	supra	PROPN
cblr-13858	876	8	note	note	PROPN
cblr-13858	876	9	11	11	NUM
cblr-13858	876	10	,	,	PUNCT
cblr-13858	876	11	at	at	ADP
cblr-13858	876	12	35	35	NUM
cblr-13858	876	13	(	(	PUNCT
cblr-13858	876	14	"	"	PUNCT
cblr-13858	876	15	[	[	X
cblr-13858	876	16	slmall	slmall	ADJ
cblr-13858	876	17	companies	company	NOUN
cblr-13858	876	18	are	be	AUX
cblr-13858	876	19	hard	hard	ADV
cblr-13858	876	20	pressed	pressed	ADJ
cblr-13858	876	21	to	to	PART
cblr-13858	876	22	find	find	VERB
cblr-13858	876	23	an	an	DET
cblr-13858	876	24	exemption	exemption	NOUN
cblr-13858	876	25	consistent	consistent	ADJ
cblr-13858	876	26	with	with	ADP
cblr-13858	876	27	their	their	PRON
cblr-13858	876	28	timing	timing	NOUN
cblr-13858	876	29	,	,	PUNCT
cblr-13858	876	30	financing	financing	NOUN
cblr-13858	876	31	,	,	PUNCT
cblr-13858	876	32	and	and	CCONJ
cblr-13858	876	33	marketing	marketing	NOUN
cblr-13858	876	34	needs	need	NOUN
cblr-13858	876	35	.	.	PUNCT
cblr-13858	876	36	"	"	PUNCT
cblr-13858	876	37	)	)	PUNCT
cblr-13858	876	38	.	.	PUNCT
cblr-13858	877	1	44	44	NUM
cblr-13858	877	2	col	col	PROPN
cblr-13858	877	3	umia	umia	PROPN
cblr-13858	877	4	b	b	PROPN
cblr-13858	877	5	usiness	usiness	PROPN
cblr-13858	877	6	la	la	PROPN
cblr-13858	877	7	w	w	PROPN
cblr-13858	877	8	re	re	PROPN
cblr-13858	877	9	vie	vie	PROPN
cblr-13858	877	10	w	w	PROPN
cblr-13858	878	1	[	[	X
cblr-13858	878	2	vol	vol	NOUN
cblr-13858	878	3	.	.	PUNCT
cblr-13858	878	4	2012	2012	NUM
cblr-13858	878	5	cr0	cr0	ADJ
cblr-13858	878	6	wdfunding	wdfunding	NOUN
cblr-13858	878	7	and	and	CCONJ
cblr-13858	878	8	securities	security	NOUN
cblr-13858	878	9	laws	law	NOUN
cblr-13858	878	10	a.	a.	NOUN
cblr-13858	878	11	section	section	NOUN
cblr-13858	878	12	4(2	4(2	NUM
cblr-13858	878	13	)	)	PUNCT
cblr-13858	878	14	,	,	PUNCT
cblr-13858	878	15	rule	rule	VERB
cblr-13858	878	16	506	506	NUM
cblr-13858	878	17	,	,	PUNCT
cblr-13858	878	18	and	and	CCONJ
cblr-13858	878	19	section	section	NOUN
cblr-13858	878	20	4(5	4(5	PROPN
cblr-13858	878	21	)	)	PUNCT
cblr-13858	878	22	section	section	NOUN
cblr-13858	878	23	4(2	4(2	NUM
cblr-13858	878	24	)	)	PUNCT
cblr-13858	878	25	of	of	ADP
cblr-13858	878	26	the	the	DET
cblr-13858	878	27	securities	security	NOUN
cblr-13858	878	28	act	act	PROPN
cblr-13858	878	29	exempts	exempt	VERB
cblr-13858	878	30	"	"	PUNCT
cblr-13858	878	31	transactions	transaction	NOUN
cblr-13858	878	32	by	by	ADP
cblr-13858	878	33	an	an	DET
cblr-13858	878	34	issuer	issuer	NOUN
cblr-13858	878	35	not	not	PART
cblr-13858	878	36	involving	involve	VERB
cblr-13858	878	37	any	any	DET
cblr-13858	878	38	public	public	ADJ
cblr-13858	878	39	offering	offering	NOUN
cblr-13858	878	40	.	.	PUNCT
cblr-13858	879	1	"216	"216	VERB
cblr-13858	879	2	the	the	DET
cblr-13858	879	3	exact	exact	ADJ
cblr-13858	879	4	boundaries	boundary	NOUN
cblr-13858	879	5	of	of	ADP
cblr-13858	879	6	this	this	DET
cblr-13858	879	7	exemption	exemption	NOUN
cblr-13858	879	8	are	be	AUX
cblr-13858	879	9	hazy,2	hazy,2	NOUN
cblr-13858	879	10	17	17	NUM
cblr-13858	879	11	but	but	CCONJ
cblr-13858	879	12	the	the	DET
cblr-13858	879	13	supreme	supreme	PROPN
cblr-13858	879	14	court	court	PROPN
cblr-13858	879	15	held	hold	VERB
cblr-13858	879	16	in	in	ADP
cblr-13858	879	17	ralston	ralston	PROPN
cblr-13858	879	18	purina	purina	PROPN
cblr-13858	879	19	that	that	SCONJ
cblr-13858	879	20	the	the	DET
cblr-13858	879	21	exemption	exemption	NOUN
cblr-13858	879	22	's	's	PART
cblr-13858	879	23	availability	availability	NOUN
cblr-13858	879	24	turns	turn	VERB
cblr-13858	879	25	on	on	ADP
cblr-13858	879	26	whether	whether	SCONJ
cblr-13858	879	27	offerees	offeree	NOUN
cblr-13858	879	28	"	"	PUNCT
cblr-13858	879	29	need	need	VERB
cblr-13858	879	30	the	the	DET
cblr-13858	879	31	protection	protection	NOUN
cblr-13858	879	32	of	of	ADP
cblr-13858	879	33	the	the	DET
cblr-13858	879	34	act	act	NOUN
cblr-13858	879	35	"	"	PUNCT
cblr-13858	879	36	or	or	CCONJ
cblr-13858	879	37	are	be	AUX
cblr-13858	879	38	"	"	PUNCT
cblr-13858	879	39	able	able	ADJ
cblr-13858	879	40	to	to	PART
cblr-13858	879	41	fend	fend	VERB
cblr-13858	879	42	for	for	ADP
cblr-13858	879	43	themselves	themselves	PRON
cblr-13858	879	44	.	.	PUNCT
cblr-13858	880	1	"21	"21	PROPN
cblr-13858	880	2	8	8	NUM
cblr-13858	880	3	subsequent	subsequent	ADJ
cblr-13858	880	4	cases	case	NOUN
cblr-13858	880	5	have	have	AUX
cblr-13858	880	6	focused	focus	VERB
cblr-13858	880	7	on	on	ADP
cblr-13858	880	8	the	the	DET
cblr-13858	880	9	sophistication	sophistication	NOUN
cblr-13858	880	10	of	of	ADP
cblr-13858	880	11	the	the	DET
cblr-13858	880	12	offerees	offeree	NOUN
cblr-13858	880	13	and	and	CCONJ
cblr-13858	880	14	their	their	PRON
cblr-13858	880	15	access	access	NOUN
cblr-13858	880	16	to	to	ADP
cblr-13858	880	17	information	information	NOUN
cblr-13858	880	18	about	about	ADP
cblr-13858	880	19	the	the	DET
cblr-13858	880	20	issuer	issuer	NOUN
cblr-13858	880	21	.	.	PUNCT
cblr-13858	881	1	"	"	PUNCT
cblr-13858	881	2	'	'	PUNCT
cblr-13858	881	3	crowdfunded	crowdfunde	VERB
cblr-13858	881	4	offerings	offering	NOUN
cblr-13858	881	5	are	be	AUX
cblr-13858	881	6	not	not	PART
cblr-13858	881	7	limited	limit	VERB
cblr-13858	881	8	to	to	ADP
cblr-13858	881	9	sophisticated	sophisticated	ADJ
cblr-13858	881	10	investors	investor	NOUN
cblr-13858	881	11	.	.	PUNCT
cblr-13858	882	1	most	most	ADJ
cblr-13858	882	2	crowdfunding	crowdfunding	NOUN
cblr-13858	882	3	sites	site	NOUN
cblr-13858	882	4	are	be	AUX
cblr-13858	882	5	open	open	ADJ
cblr-13858	882	6	to	to	ADP
cblr-13858	882	7	the	the	DET
cblr-13858	882	8	general	general	ADJ
cblr-13858	882	9	public	public	NOUN
cblr-13858	882	10	-	-	PUNCT
cblr-13858	882	11	the	the	DET
cblr-13858	882	12	whole	whole	ADJ
cblr-13858	882	13	point	point	NOUN
cblr-13858	882	14	of	of	ADP
cblr-13858	882	15	crowdfunding	crowdfunding	NOUN
cblr-13858	882	16	is	be	AUX
cblr-13858	882	17	to	to	PART
cblr-13858	882	18	appeal	appeal	VERB
cblr-13858	882	19	to	to	ADP
cblr-13858	882	20	this	this	DET
cblr-13858	882	21	"	"	PUNCT
cblr-13858	882	22	crowd	crowd	NOUN
cblr-13858	882	23	.	.	PUNCT
cblr-13858	882	24	"	"	PUNCT
cblr-13858	883	1	because	because	SCONJ
cblr-13858	883	2	of	of	ADP
cblr-13858	883	3	that	that	PRON
cblr-13858	883	4	,	,	PUNCT
cblr-13858	883	5	section	section	NOUN
cblr-13858	883	6	4(2	4(2	NUM
cblr-13858	883	7	)	)	PUNCT
cblr-13858	883	8	would	would	AUX
cblr-13858	883	9	not	not	PART
cblr-13858	883	10	be	be	AUX
cblr-13858	883	11	available	available	ADJ
cblr-13858	883	12	.	.	PUNCT
cblr-13858	884	1	the	the	DET
cblr-13858	884	2	sec	sec	PROPN
cblr-13858	884	3	has	have	AUX
cblr-13858	884	4	adopted	adopt	VERB
cblr-13858	884	5	a	a	DET
cblr-13858	884	6	regulatory	regulatory	ADJ
cblr-13858	884	7	safe	safe	ADJ
cblr-13858	884	8	harbor	harbor	NOUN
cblr-13858	884	9	for	for	ADP
cblr-13858	884	10	section	section	NOUN
cblr-13858	884	11	4(2	4(2	NUM
cblr-13858	884	12	)	)	PUNCT
cblr-13858	884	13	,	,	PUNCT
cblr-13858	884	14	rule	rule	VERB
cblr-13858	884	15	506	506	NUM
cblr-13858	884	16	of	of	ADP
cblr-13858	884	17	regulation	regulation	NOUN
cblr-13858	884	18	d,22	d,22	X
cblr-13858	884	19	0	0	PUNCT
cblr-13858	884	20	but	but	CCONJ
cblr-13858	884	21	that	that	SCONJ
cblr-13858	884	22	safe	safe	ADJ
cblr-13858	884	23	harbor	harbor	NOUN
cblr-13858	884	24	would	would	AUX
cblr-13858	884	25	also	also	ADV
cblr-13858	884	26	not	not	PART
cblr-13858	884	27	be	be	AUX
cblr-13858	884	28	helpful	helpful	ADJ
cblr-13858	884	29	.	.	PUNCT
cblr-13858	885	1	purchasers	purchaser	NOUN
cblr-13858	885	2	in	in	ADP
cblr-13858	885	3	a	a	DET
cblr-13858	885	4	rule	rule	NOUN
cblr-13858	885	5	506	506	NUM
cblr-13858	885	6	offering	offering	NOUN
cblr-13858	885	7	must	must	AUX
cblr-13858	885	8	either	either	CCONJ
cblr-13858	885	9	be	be	AUX
cblr-13858	885	10	"	"	PUNCT
cblr-13858	885	11	accredited	accredited	ADJ
cblr-13858	885	12	investors	investor	NOUN
cblr-13858	885	13	"	"	PUNCT
cblr-13858	885	14	or	or	CCONJ
cblr-13858	885	15	meet	meet	VERB
cblr-13858	885	16	a	a	DET
cblr-13858	885	17	sophistication	sophistication	NOUN
cblr-13858	885	18	requirement.2	requirement.2	ADJ
cblr-13858	885	19	2	2	NUM
cblr-13858	885	20	1	1	NUM
cblr-13858	885	21	accredited	accredit	VERB
cblr-13858	885	22	investors	investor	NOUN
cblr-13858	885	23	are	be	AUX
cblr-13858	885	24	primarily	primarily	ADV
cblr-13858	885	25	sophisticated	sophisticated	ADJ
cblr-13858	885	26	institutions	institution	NOUN
cblr-13858	885	27	or	or	CCONJ
cblr-13858	885	28	individual	individual	ADJ
cblr-13858	885	29	investors	investor	NOUN
cblr-13858	885	30	who	who	PRON
cblr-13858	885	31	meet	meet	VERB
cblr-13858	885	32	wealth	wealth	NOUN
cblr-13858	885	33	or	or	CCONJ
cblr-13858	885	34	income	income	NOUN
cblr-13858	885	35	standards.2	standards.2	NOUN
cblr-13858	885	36	22	22	NUM
cblr-13858	885	37	not	not	PART
cblr-13858	885	38	all	all	PRON
cblr-13858	885	39	of	of	ADP
cblr-13858	885	40	the	the	DET
cblr-13858	885	41	purchasers	purchaser	NOUN
cblr-13858	885	42	on	on	ADP
cblr-13858	885	43	a	a	DET
cblr-13858	885	44	216	216	NUM
cblr-13858	885	45	securities	security	NOUN
cblr-13858	885	46	act	act	NOUN
cblr-13858	885	47	of	of	ADP
cblr-13858	885	48	1933	1933	NUM
cblr-13858	885	49	§	§	PROPN
cblr-13858	885	50	4(2	4(2	NUM
cblr-13858	885	51	)	)	PUNCT
cblr-13858	885	52	,	,	PUNCT
cblr-13858	885	53	15	15	NUM
cblr-13858	885	54	u.s.c	u.s.c	ADJ
cblr-13858	885	55	.	.	PUNCT
cblr-13858	886	1	§	§	PROPN
cblr-13858	886	2	77d(2	77d(2	NUM
cblr-13858	886	3	)	)	PUNCT
cblr-13858	886	4	(	(	PUNCT
cblr-13858	886	5	2010	2010	NUM
cblr-13858	886	6	)	)	PUNCT
cblr-13858	886	7	.	.	PUNCT
cblr-13858	887	1	217	217	NUM
cblr-13858	887	2	see	see	VERB
cblr-13858	887	3	hazen	hazen	PROPN
cblr-13858	887	4	,	,	PUNCT
cblr-13858	887	5	supra	supra	PROPN
cblr-13858	887	6	note	note	PROPN
cblr-13858	887	7	42	42	NUM
cblr-13858	887	8	,	,	PUNCT
cblr-13858	887	9	at	at	ADP
cblr-13858	887	10	573	573	NUM
cblr-13858	887	11	(	(	PUNCT
cblr-13858	887	12	"	"	PUNCT
cblr-13858	887	13	[	[	X
cblr-13858	887	14	a]n	a]n	ADJ
cblr-13858	887	15	issuer	issuer	NOUN
cblr-13858	887	16	relying	rely	VERB
cblr-13858	887	17	on	on	ADP
cblr-13858	887	18	the	the	DET
cblr-13858	887	19	statutory	statutory	ADJ
cblr-13858	887	20	section	section	NOUN
cblr-13858	887	21	4(2	4(2	NUM
cblr-13858	887	22	)	)	PUNCT
cblr-13858	887	23	exemption	exemption	NOUN
cblr-13858	887	24	.	.	PUNCT
cblr-13858	887	25	.	.	PUNCT
cblr-13858	887	26	.	.	PUNCT
cblr-13858	888	1	may	may	AUX
cblr-13858	888	2	be	be	AUX
cblr-13858	888	3	subjecting	subject	VERB
cblr-13858	888	4	itself	itself	PRON
cblr-13858	888	5	to	to	ADP
cblr-13858	888	6	a	a	DET
cblr-13858	888	7	great	great	ADJ
cblr-13858	888	8	deal	deal	NOUN
cblr-13858	888	9	of	of	ADP
cblr-13858	888	10	uncertainty	uncertainty	NOUN
cblr-13858	888	11	.	.	PUNCT
cblr-13858	888	12	"	"	PUNCT
cblr-13858	888	13	)	)	PUNCT
cblr-13858	888	14	.	.	PUNCT
cblr-13858	889	1	218	218	NUM
cblr-13858	889	2	sec	sec	PROPN
cblr-13858	889	3	v.	v.	PROPN
cblr-13858	889	4	ralston	ralston	PROPN
cblr-13858	889	5	purina	purina	PROPN
cblr-13858	889	6	co.	co.	PROPN
cblr-13858	889	7	,	,	PUNCT
cblr-13858	889	8	346	346	NUM
cblr-13858	889	9	u.s	u.s	PROPN
cblr-13858	889	10	.	.	PROPN
cblr-13858	889	11	119	119	NUM
cblr-13858	889	12	,	,	PUNCT
cblr-13858	889	13	125	125	NUM
cblr-13858	889	14	(	(	PUNCT
cblr-13858	889	15	1953	1953	NUM
cblr-13858	889	16	)	)	PUNCT
cblr-13858	889	17	.	.	PUNCT
cblr-13858	890	1	219	219	NUM
cblr-13858	890	2	see	see	VERB
cblr-13858	890	3	hazen	hazen	PROPN
cblr-13858	890	4	,	,	PUNCT
cblr-13858	890	5	supra	supra	PROPN
cblr-13858	890	6	note	note	PROPN
cblr-13858	890	7	42	42	NUM
cblr-13858	890	8	,	,	PUNCT
cblr-13858	890	9	at	at	ADP
cblr-13858	890	10	565	565	NUM
cblr-13858	890	11	.	.	NOUN
cblr-13858	890	12	220	220	NUM
cblr-13858	890	13	offers	offer	NOUN
cblr-13858	890	14	and	and	CCONJ
cblr-13858	890	15	sales	sale	NOUN
cblr-13858	890	16	that	that	PRON
cblr-13858	890	17	satisfy	satisfy	VERB
cblr-13858	890	18	the	the	DET
cblr-13858	890	19	conditions	condition	NOUN
cblr-13858	890	20	of	of	ADP
cblr-13858	890	21	rule	rule	NOUN
cblr-13858	890	22	506	506	NUM
cblr-13858	890	23	"	"	PUNCT
cblr-13858	890	24	shall	shall	AUX
cblr-13858	890	25	be	be	AUX
cblr-13858	890	26	deemed	deem	VERB
cblr-13858	890	27	to	to	PART
cblr-13858	890	28	be	be	AUX
cblr-13858	890	29	transactions	transaction	NOUN
cblr-13858	890	30	not	not	PART
cblr-13858	890	31	involving	involve	VERB
cblr-13858	890	32	any	any	DET
cblr-13858	890	33	public	public	ADJ
cblr-13858	890	34	offering	offering	NOUN
cblr-13858	890	35	within	within	ADP
cblr-13858	890	36	the	the	DET
cblr-13858	890	37	meaning	meaning	NOUN
cblr-13858	890	38	of	of	ADP
cblr-13858	890	39	section	section	NOUN
cblr-13858	890	40	4(2	4(2	NUM
cblr-13858	890	41	)	)	PUNCT
cblr-13858	890	42	of	of	ADP
cblr-13858	890	43	the	the	DET
cblr-13858	890	44	act	act	NOUN
cblr-13858	890	45	.	.	PUNCT
cblr-13858	890	46	"	"	PUNCT
cblr-13858	891	1	securities	security	NOUN
cblr-13858	891	2	act	act	NOUN
cblr-13858	891	3	rule	rule	VERB
cblr-13858	891	4	506(a	506(a	NUM
cblr-13858	891	5	)	)	PUNCT
cblr-13858	891	6	,	,	PUNCT
cblr-13858	891	7	17	17	NUM
cblr-13858	891	8	c.f.r	c.f.r	NOUN
cblr-13858	891	9	.	.	PUNCT
cblr-13858	892	1	§	§	PROPN
cblr-13858	892	2	230.506(a	230.506(a	NUM
cblr-13858	892	3	)	)	PUNCT
cblr-13858	892	4	(	(	PUNCT
cblr-13858	892	5	2012	2012	NUM
cblr-13858	892	6	)	)	PUNCT
cblr-13858	892	7	.	.	PUNCT
cblr-13858	893	1	221	221	NUM
cblr-13858	893	2	17	17	NUM
cblr-13858	893	3	c.f.r	c.f.r	NOUN
cblr-13858	893	4	.	.	PUNCT
cblr-13858	894	1	§	§	PROPN
cblr-13858	894	2	230.506(b)(2)(ii	230.506(b)(2)(ii	NUM
cblr-13858	894	3	)	)	PUNCT
cblr-13858	894	4	.	.	PUNCT
cblr-13858	895	1	if	if	SCONJ
cblr-13858	895	2	a	a	DET
cblr-13858	895	3	purchaser	purchaser	NOUN
cblr-13858	895	4	is	be	AUX
cblr-13858	895	5	not	not	PART
cblr-13858	895	6	an	an	DET
cblr-13858	895	7	accredited	accredited	ADJ
cblr-13858	895	8	investor	investor	NOUN
cblr-13858	895	9	,	,	PUNCT
cblr-13858	895	10	she	she	PRON
cblr-13858	895	11	or	or	CCONJ
cblr-13858	895	12	her	her	PRON
cblr-13858	895	13	purchaser	purchaser	NOUN
cblr-13858	895	14	representative	representative	NOUN
cblr-13858	895	15	must	must	AUX
cblr-13858	895	16	have	have	VERB
cblr-13858	895	17	"	"	PUNCT
cblr-13858	895	18	such	such	ADJ
cblr-13858	895	19	knowledge	knowledge	NOUN
cblr-13858	895	20	and	and	CCONJ
cblr-13858	895	21	experience	experience	NOUN
cblr-13858	895	22	in	in	ADP
cblr-13858	895	23	financial	financial	ADJ
cblr-13858	895	24	and	and	CCONJ
cblr-13858	895	25	business	business	NOUN
cblr-13858	895	26	matters	matter	NOUN
cblr-13858	895	27	that	that	SCONJ
cblr-13858	895	28	[	[	X
cblr-13858	895	29	s]he	s]he	ADJ
cblr-13858	895	30	is	be	AUX
cblr-13858	895	31	capable	capable	ADJ
cblr-13858	895	32	of	of	ADP
cblr-13858	895	33	evaluating	evaluate	VERB
cblr-13858	895	34	the	the	DET
cblr-13858	895	35	merits	merit	NOUN
cblr-13858	895	36	and	and	CCONJ
cblr-13858	895	37	risks	risk	NOUN
cblr-13858	895	38	of	of	ADP
cblr-13858	895	39	the	the	DET
cblr-13858	895	40	prospective	prospective	ADJ
cblr-13858	895	41	investment	investment	NOUN
cblr-13858	895	42	.	.	PUNCT
cblr-13858	895	43	"	"	PUNCT
cblr-13858	896	1	i	i	PRON
cblr-13858	896	2	d.	d.	PROPN
cblr-13858	896	3	the	the	DET
cblr-13858	896	4	rule	rule	NOUN
cblr-13858	896	5	is	be	AUX
cblr-13858	896	6	satisfied	satisfied	ADJ
cblr-13858	896	7	even	even	ADV
cblr-13858	896	8	if	if	SCONJ
cblr-13858	896	9	the	the	DET
cblr-13858	896	10	purchaser	purchaser	NOUN
cblr-13858	896	11	does	do	AUX
cblr-13858	896	12	not	not	PART
cblr-13858	896	13	meet	meet	VERB
cblr-13858	896	14	this	this	DET
cblr-13858	896	15	standard	standard	NOUN
cblr-13858	896	16	,	,	PUNCT
cblr-13858	896	17	as	as	ADV
cblr-13858	896	18	long	long	ADV
cblr-13858	896	19	as	as	SCONJ
cblr-13858	896	20	the	the	DET
cblr-13858	896	21	issuer	issuer	NOUN
cblr-13858	896	22	reasonably	reasonably	ADV
cblr-13858	896	23	believes	believe	VERB
cblr-13858	896	24	that	that	SCONJ
cblr-13858	896	25	she	she	PRON
cblr-13858	896	26	does	do	VERB
cblr-13858	896	27	.	.	PUNCT
cblr-13858	897	1	i	i	PRON
cblr-13858	897	2	d.	d.	PROPN
cblr-13858	897	3	222	222	NUM
cblr-13858	897	4	see	see	VERB
cblr-13858	897	5	17	17	NUM
cblr-13858	897	6	c.f.r	c.f.r	NOUN
cblr-13858	897	7	.	.	PUNCT
cblr-13858	898	1	§	§	PROPN
cblr-13858	898	2	230.501(a	230.501(a	NUM
cblr-13858	898	3	)	)	PUNCT
cblr-13858	898	4	.	.	PUNCT
cblr-13858	899	1	no	no	INTJ
cblr-13858	899	2	.	.	NOUN
cblr-13858	900	1	1	1	NUM
cblr-13858	900	2	:	:	SYM
cblr-13858	900	3	1	1	NUM
cblr-13858	900	4	]	]	SYM
cblr-13858	900	5	45	45	NUM
cblr-13858	900	6	publicly	publicly	ADV
cblr-13858	900	7	accessible	accessible	ADJ
cblr-13858	900	8	crowdfunding	crowdfunding	NOUN
cblr-13858	900	9	site	site	NOUN
cblr-13858	900	10	would	would	AUX
cblr-13858	900	11	meet	meet	VERB
cblr-13858	900	12	these	these	DET
cblr-13858	900	13	requirements	requirement	NOUN
cblr-13858	900	14	.	.	PUNCT
cblr-13858	901	1	in	in	ADP
cblr-13858	901	2	addition	addition	NOUN
cblr-13858	901	3	,	,	PUNCT
cblr-13858	901	4	rule	rule	VERB
cblr-13858	901	5	506	506	NUM
cblr-13858	901	6	prohibits	prohibit	NOUN
cblr-13858	901	7	"	"	PUNCT
cblr-13858	901	8	general	general	ADJ
cblr-13858	901	9	solicitation	solicitation	NOUN
cblr-13858	901	10	"	"	PUNCT
cblr-13858	901	11	and	and	CCONJ
cblr-13858	901	12	"	"	PUNCT
cblr-13858	901	13	general	general	ADJ
cblr-13858	901	14	advertising	advertising	NOUN
cblr-13858	901	15	"	"	PUNCT
cblr-13858	901	16	of	of	ADP
cblr-13858	901	17	the	the	DET
cblr-13858	901	18	offering.22	offering.22	NOUN
cblr-13858	901	19	3	3	NUM
cblr-13858	901	20	the	the	DET
cblr-13858	901	21	sec	sec	PROPN
cblr-13858	901	22	and	and	CCONJ
cblr-13858	901	23	its	its	PRON
cblr-13858	901	24	staff	staff	NOUN
cblr-13858	901	25	take	take	VERB
cblr-13858	901	26	the	the	DET
cblr-13858	901	27	position	position	NOUN
cblr-13858	901	28	that	that	SCONJ
cblr-13858	901	29	any	any	DET
cblr-13858	901	30	solicitation	solicitation	NOUN
cblr-13858	901	31	of	of	ADP
cblr-13858	901	32	an	an	DET
cblr-13858	901	33	investor	investor	NOUN
cblr-13858	901	34	with	with	ADP
cblr-13858	901	35	whom	whom	PRON
cblr-13858	901	36	the	the	DET
cblr-13858	901	37	issuer	issuer	NOUN
cblr-13858	901	38	or	or	CCONJ
cblr-13858	901	39	its	its	PRON
cblr-13858	901	40	sales	sale	NOUN
cblr-13858	901	41	representatives	representative	NOUN
cblr-13858	901	42	do	do	AUX
cblr-13858	901	43	not	not	PART
cblr-13858	901	44	have	have	VERB
cblr-13858	901	45	a	a	DET
cblr-13858	901	46	preexisting	preexist	VERB
cblr-13858	901	47	relationship	relationship	NOUN
cblr-13858	901	48	violates	violate	VERB
cblr-13858	901	49	the	the	DET
cblr-13858	901	50	general	general	ADJ
cblr-13858	901	51	solicitation	solicitation	NOUN
cblr-13858	901	52	restriction.2	restriction.2	VERB
cblr-13858	901	53	24	24	NUM
cblr-13858	901	54	offerings	offering	NOUN
cblr-13858	901	55	to	to	ADP
cblr-13858	901	56	the	the	DET
cblr-13858	901	57	general	general	ADJ
cblr-13858	901	58	public	public	NOUN
cblr-13858	901	59	on	on	ADP
cblr-13858	901	60	crowdfunding	crowdfunding	NOUN
cblr-13858	901	61	sites	site	NOUN
cblr-13858	901	62	would	would	AUX
cblr-13858	901	63	clearly	clearly	ADV
cblr-13858	901	64	violate	violate	VERB
cblr-13858	901	65	this	this	DET
cblr-13858	901	66	prohibition.22	prohibition.22	NOUN
cblr-13858	901	67	5	5	NUM
cblr-13858	901	68	finally	finally	ADV
cblr-13858	901	69	,	,	PUNCT
cblr-13858	901	70	sales	sale	NOUN
cblr-13858	901	71	under	under	ADP
cblr-13858	901	72	rule	rule	NOUN
cblr-13858	901	73	506	506	NUM
cblr-13858	901	74	are	be	AUX
cblr-13858	901	75	limited	limit	VERB
cblr-13858	901	76	to	to	ADP
cblr-13858	901	77	no	no	DET
cblr-13858	901	78	more	more	ADJ
cblr-13858	901	79	than	than	ADP
cblr-13858	901	80	thirty	thirty	NUM
cblr-13858	901	81	-	-	PUNCT
cblr-13858	901	82	five	five	NUM
cblr-13858	901	83	non	non	ADJ
cblr-13858	901	84	-	-	ADJ
cblr-13858	901	85	accredited	accredited	ADJ
cblr-13858	901	86	investors.2	investors.2	PROPN
cblr-13858	901	87	26	26	NUM
cblr-13858	901	88	some	some	DET
cblr-13858	901	89	crowdfunding	crowdfunding	NOUN
cblr-13858	901	90	offerings	offering	NOUN
cblr-13858	901	91	might	might	AUX
cblr-13858	901	92	meet	meet	VERB
cblr-13858	901	93	this	this	DET
cblr-13858	901	94	limit	limit	NOUN
cblr-13858	901	95	on	on	ADP
cblr-13858	901	96	the	the	DET
cblr-13858	901	97	number	number	NOUN
cblr-13858	901	98	of	of	ADP
cblr-13858	901	99	purchasers	purchaser	NOUN
cblr-13858	901	100	,	,	PUNCT
cblr-13858	901	101	but	but	CCONJ
cblr-13858	901	102	,	,	PUNCT
cblr-13858	901	103	given	give	VERB
cblr-13858	901	104	the	the	DET
cblr-13858	901	105	small	small	ADJ
cblr-13858	901	106	amounts	amount	NOUN
cblr-13858	901	107	contributed	contribute	VERB
cblr-13858	901	108	by	by	ADP
cblr-13858	901	109	each	each	DET
cblr-13858	901	110	investor	investor	NOUN
cblr-13858	901	111	,	,	PUNCT
cblr-13858	901	112	others	other	NOUN
cblr-13858	901	113	would	would	AUX
cblr-13858	901	114	not.227	not.227	PROPN
cblr-13858	901	115	section	section	PROPN
cblr-13858	901	116	4(5	4(5	PROPN
cblr-13858	901	117	)	)	PUNCT
cblr-13858	901	118	of	of	ADP
cblr-13858	901	119	the	the	DET
cblr-13858	901	120	securities	security	NOUN
cblr-13858	901	121	act	act	PROPN
cblr-13858	901	122	,	,	PUNCT
cblr-13858	901	123	until	until	ADP
cblr-13858	901	124	recently	recently	ADV
cblr-13858	901	125	section	section	NOUN
cblr-13858	901	126	4(6	4(6	NUM
cblr-13858	901	127	)	)	PUNCT
cblr-13858	901	128	,	,	PUNCT
cblr-13858	901	129	is	be	AUX
cblr-13858	901	130	similar	similar	ADJ
cblr-13858	901	131	to	to	PART
cblr-13858	901	132	rule	rule	VERB
cblr-13858	901	133	506	506	NUM
cblr-13858	901	134	.	.	PUNCT
cblr-13858	902	1	228	228	NUM
cblr-13858	902	2	it	it	PRON
cblr-13858	902	3	allows	allow	VERB
cblr-13858	902	4	offers	offer	NOUN
cblr-13858	902	5	and	and	CCONJ
cblr-13858	902	6	sales	sale	NOUN
cblr-13858	902	7	solely	solely	ADV
cblr-13858	902	8	to	to	ADP
cblr-13858	902	9	accredited	accredit	VERB
cblr-13858	902	10	investors	investor	NOUN
cblr-13858	902	11	provided	provide	VERB
cblr-13858	902	12	that	that	SCONJ
cblr-13858	902	13	there	there	PRON
cblr-13858	902	14	is	be	VERB
cblr-13858	902	15	no	no	DET
cblr-13858	902	16	"	"	PUNCT
cblr-13858	902	17	advertising	advertising	NOUN
cblr-13858	902	18	or	or	CCONJ
cblr-13858	902	19	public	public	ADJ
cblr-13858	902	20	solicitation	solicitation	NOUN
cblr-13858	902	21	.	.	PUNCT
cblr-13858	903	1	"229	"229	PUNCT
cblr-13858	904	1	thus	thus	ADV
cblr-13858	904	2	,	,	PUNCT
cblr-13858	904	3	section	section	NOUN
cblr-13858	904	4	4(5	4(5	PROPN
cblr-13858	904	5	)	)	PUNCT
cblr-13858	904	6	,	,	PUNCT
cblr-13858	904	7	like	like	ADP
cblr-13858	904	8	rule	rule	NOUN
cblr-13858	904	9	506	506	NUM
cblr-13858	904	10	,	,	PUNCT
cblr-13858	904	11	is	be	AUX
cblr-13858	904	12	of	of	ADP
cblr-13858	904	13	little	little	ADJ
cblr-13858	904	14	use	use	NOUN
cblr-13858	904	15	to	to	ADP
cblr-13858	904	16	small	small	ADJ
cblr-13858	904	17	businesses	business	NOUN
cblr-13858	904	18	engaged	engage	VERB
cblr-13858	904	19	in	in	ADP
cblr-13858	904	20	crowdfunding.2	crowdfunding.2	PROPN
cblr-13858	904	21	m	m	PROPN
cblr-13858	904	22	223	223	NUM
cblr-13858	904	23	17	17	NUM
cblr-13858	904	24	c.f.r	c.f.r	NOUN
cblr-13858	904	25	.	.	PUNCT
cblr-13858	905	1	§	§	PROPN
cblr-13858	905	2	230.502(c	230.502(c	PROPN
cblr-13858	905	3	)	)	PUNCT
cblr-13858	905	4	.	.	PUNCT
cblr-13858	906	1	224	224	NUM
cblr-13858	906	2	see	see	VERB
cblr-13858	906	3	,	,	PUNCT
cblr-13858	906	4	e.g.	e.g.	ADV
cblr-13858	906	5	,	,	PUNCT
cblr-13858	906	6	kenman	kenman	PROPN
cblr-13858	906	7	corp	corp	PROPN
cblr-13858	906	8	.	.	PROPN
cblr-13858	906	9	,	,	PUNCT
cblr-13858	906	10	exchange	exchange	PROPN
cblr-13858	906	11	act	act	PROPN
cblr-13858	906	12	release	release	VERB
cblr-13858	906	13	no	no	NOUN
cblr-13858	906	14	.	.	NOUN
cblr-13858	906	15	21,962	21,962	NUM
cblr-13858	906	16	,	,	PUNCT
cblr-13858	906	17	32	32	NUM
cblr-13858	906	18	s.e.c	s.e.c	NOUN
cblr-13858	906	19	.	.	PUNCT
cblr-13858	907	1	docket	docket	NOUN
cblr-13858	907	2	1352	1352	NUM
cblr-13858	907	3	n.6	n.6	NOUN
cblr-13858	907	4	(	(	PUNCT
cblr-13858	907	5	apr	apr	NOUN
cblr-13858	907	6	.	.	PROPN
cblr-13858	907	7	19	19	NUM
cblr-13858	907	8	,	,	PUNCT
cblr-13858	907	9	1985	1985	NUM
cblr-13858	907	10	)	)	PUNCT
cblr-13858	907	11	.	.	PUNCT
cblr-13858	908	1	see	see	VERB
cblr-13858	908	2	generally	generally	ADV
cblr-13858	908	3	hazen	hazen	PROPN
cblr-13858	908	4	,	,	PUNCT
cblr-13858	908	5	supra	supra	PROPN
cblr-13858	908	6	note	note	PROPN
cblr-13858	908	7	42	42	NUM
cblr-13858	908	8	,	,	PUNCT
cblr-13858	908	9	at	at	ADP
cblr-13858	908	10	540	540	NUM
cblr-13858	908	11	;	;	PUNCT
cblr-13858	908	12	sjostrom	sjostrom	ADJ
cblr-13858	908	13	,	,	PUNCT
cblr-13858	908	14	relaxing	relax	VERB
cblr-13858	908	15	the	the	DET
cblr-13858	908	16	ban	ban	NOUN
cblr-13858	908	17	,	,	PUNCT
cblr-13858	908	18	supra	supra	PROPN
cblr-13858	908	19	note	note	NOUN
cblr-13858	908	20	198	198	NUM
cblr-13858	908	21	,	,	PUNCT
cblr-13858	908	22	at	at	ADP
cblr-13858	908	23	13	13	NUM
cblr-13858	908	24	-	-	SYM
cblr-13858	908	25	14	14	NUM
cblr-13858	908	26	.	.	PUNCT
cblr-13858	909	1	according	accord	VERB
cblr-13858	909	2	to	to	ADP
cblr-13858	909	3	sjostrom	sjostrom	NOUN
cblr-13858	909	4	,	,	PUNCT
cblr-13858	909	5	the	the	DET
cblr-13858	909	6	sec	sec	PROPN
cblr-13858	909	7	has	have	AUX
cblr-13858	909	8	indicated	indicate	VERB
cblr-13858	909	9	that	that	SCONJ
cblr-13858	909	10	a	a	DET
cblr-13858	909	11	preexisting	preexist	VERB
cblr-13858	909	12	relationship	relationship	NOUN
cblr-13858	909	13	is	be	AUX
cblr-13858	909	14	not	not	PART
cblr-13858	909	15	the	the	DET
cblr-13858	909	16	only	only	ADJ
cblr-13858	909	17	way	way	NOUN
cblr-13858	909	18	to	to	PART
cblr-13858	909	19	avoid	avoid	VERB
cblr-13858	909	20	the	the	DET
cblr-13858	909	21	general	general	ADJ
cblr-13858	909	22	solicitation	solicitation	NOUN
cblr-13858	909	23	ban	ban	NOUN
cblr-13858	909	24	,	,	PUNCT
cblr-13858	909	25	but	but	CCONJ
cblr-13858	909	26	it	it	PRON
cblr-13858	909	27	has	have	AUX
cblr-13858	909	28	not	not	PART
cblr-13858	909	29	granted	grant	VERB
cblr-13858	909	30	any	any	DET
cblr-13858	909	31	no	no	DET
cblr-13858	909	32	-	-	PUNCT
cblr-13858	909	33	action	action	NOUN
cblr-13858	909	34	relief	relief	NOUN
cblr-13858	909	35	where	where	SCONJ
cblr-13858	909	36	a	a	DET
cblr-13858	909	37	preexisting	preexist	VERB
cblr-13858	909	38	relationship	relationship	NOUN
cblr-13858	909	39	is	be	AUX
cblr-13858	909	40	absent	absent	ADJ
cblr-13858	909	41	.	.	PUNCT
cblr-13858	910	1	i	i	PRON
cblr-13858	910	2	d.	d.	PROPN
cblr-13858	910	3	225	225	NUM
cblr-13858	910	4	see	see	VERB
cblr-13858	910	5	heminway	heminway	NOUN
cblr-13858	910	6	&	&	CCONJ
cblr-13858	910	7	hoffman	hoffman	PROPN
cblr-13858	910	8	,	,	PUNCT
cblr-13858	910	9	supra	supra	PROPN
cblr-13858	910	10	note	note	PROPN
cblr-13858	910	11	142	142	NUM
cblr-13858	910	12	,	,	PUNCT
cblr-13858	910	13	at	at	ADP
cblr-13858	910	14	918	918	NUM
cblr-13858	910	15	(	(	PUNCT
cblr-13858	910	16	"	"	PUNCT
cblr-13858	910	17	the	the	DET
cblr-13858	910	18	most	most	ADV
cblr-13858	910	19	serious	serious	ADJ
cblr-13858	910	20	obstacle	obstacle	NOUN
cblr-13858	910	21	to	to	ADP
cblr-13858	910	22	the	the	DET
cblr-13858	910	23	use	use	NOUN
cblr-13858	910	24	of	of	ADP
cblr-13858	910	25	regulation	regulation	NOUN
cblr-13858	910	26	d	d	NOUN
cblr-13858	910	27	to	to	PART
cblr-13858	910	28	exempt	exempt	VERB
cblr-13858	910	29	crowdfunded	crowdfunde	VERB
cblr-13858	910	30	offerings	offering	NOUN
cblr-13858	910	31	from	from	ADP
cblr-13858	910	32	securities	security	NOUN
cblr-13858	910	33	act	act	NOUN
cblr-13858	910	34	registration	registration	NOUN
cblr-13858	910	35	is	be	AUX
cblr-13858	910	36	regulation	regulation	NOUN
cblr-13858	910	37	d	d	NOUN
cblr-13858	910	38	's	's	PART
cblr-13858	910	39	overall	overall	ADJ
cblr-13858	910	40	prohibition	prohibition	NOUN
cblr-13858	910	41	of	of	ADP
cblr-13858	910	42	general	general	ADJ
cblr-13858	910	43	solicitation	solicitation	NOUN
cblr-13858	910	44	and	and	CCONJ
cblr-13858	910	45	general	general	ADJ
cblr-13858	910	46	advertising	advertising	NOUN
cblr-13858	910	47	.	.	PUNCT
cblr-13858	910	48	"	"	PUNCT
cblr-13858	910	49	)	)	PUNCT
cblr-13858	910	50	.	.	PUNCT
cblr-13858	911	1	226	226	NUM
cblr-13858	911	2	see	see	VERB
cblr-13858	911	3	17	17	NUM
cblr-13858	911	4	c.f.r	c.f.r	NOUN
cblr-13858	911	5	.	.	PUNCT
cblr-13858	912	1	§	§	PROPN
cblr-13858	912	2	230.506(b)(2)(i	230.506(b)(2)(i	NUM
cblr-13858	912	3	)	)	PUNCT
cblr-13858	912	4	.	.	PUNCT
cblr-13858	913	1	227	227	NUM
cblr-13858	913	2	see	see	VERB
cblr-13858	913	3	cohn	cohn	PROPN
cblr-13858	913	4	&	&	CCONJ
cblr-13858	913	5	yadley	yadley	PROPN
cblr-13858	913	6	,	,	PUNCT
cblr-13858	913	7	supra	supra	PROPN
cblr-13858	913	8	note	note	PROPN
cblr-13858	913	9	11	11	NUM
cblr-13858	913	10	,	,	PUNCT
cblr-13858	913	11	at	at	ADP
cblr-13858	913	12	12	12	NUM
cblr-13858	913	13	(	(	PUNCT
cblr-13858	913	14	noting	note	VERB
cblr-13858	913	15	that	that	SCONJ
cblr-13858	913	16	small	small	ADJ
cblr-13858	913	17	companies	company	NOUN
cblr-13858	913	18	are	be	AUX
cblr-13858	913	19	likely	likely	ADJ
cblr-13858	913	20	to	to	PART
cblr-13858	913	21	need	need	VERB
cblr-13858	913	22	to	to	PART
cblr-13858	913	23	sell	sell	VERB
cblr-13858	913	24	to	to	ADP
cblr-13858	913	25	a	a	DET
cblr-13858	913	26	large	large	ADJ
cblr-13858	913	27	number	number	NOUN
cblr-13858	913	28	of	of	ADP
cblr-13858	913	29	investors	investor	NOUN
cblr-13858	913	30	and	and	CCONJ
cblr-13858	913	31	can	can	AUX
cblr-13858	913	32	not	not	PART
cblr-13858	913	33	do	do	VERB
cblr-13858	913	34	that	that	PRON
cblr-13858	913	35	within	within	ADP
cblr-13858	913	36	the	the	DET
cblr-13858	913	37	numerical	numerical	ADJ
cblr-13858	913	38	limits	limit	NOUN
cblr-13858	913	39	imposed	impose	VERB
cblr-13858	913	40	by	by	ADP
cblr-13858	913	41	rules	rule	NOUN
cblr-13858	913	42	505	505	NUM
cblr-13858	913	43	and	and	CCONJ
cblr-13858	913	44	506	506	NUM
cblr-13858	913	45	)	)	PUNCT
cblr-13858	913	46	.	.	PUNCT
cblr-13858	914	1	228	228	NUM
cblr-13858	914	2	unlike	unlike	ADP
cblr-13858	914	3	rule	rule	NOUN
cblr-13858	914	4	506	506	NUM
cblr-13858	914	5	,	,	PUNCT
cblr-13858	914	6	section	section	NOUN
cblr-13858	914	7	4(5	4(5	PROPN
cblr-13858	914	8	)	)	PUNCT
cblr-13858	914	9	limits	limit	VERB
cblr-13858	914	10	the	the	DET
cblr-13858	914	11	amount	amount	NOUN
cblr-13858	914	12	of	of	ADP
cblr-13858	914	13	the	the	DET
cblr-13858	914	14	offering	offering	NOUN
cblr-13858	914	15	to	to	ADP
cblr-13858	914	16	$	$	SYM
cblr-13858	914	17	5	5	NUM
cblr-13858	914	18	million	million	NUM
cblr-13858	914	19	.	.	PUNCT
cblr-13858	915	1	securities	security	NOUN
cblr-13858	915	2	act	act	PROPN
cblr-13858	915	3	of	of	ADP
cblr-13858	915	4	1933	1933	NUM
cblr-13858	915	5	§	§	PROPN
cblr-13858	915	6	4(5	4(5	PROPN
cblr-13858	915	7	)	)	PUNCT
cblr-13858	915	8	,	,	PUNCT
cblr-13858	915	9	15	15	NUM
cblr-13858	915	10	u.s.c	u.s.c	ADJ
cblr-13858	915	11	.	.	PUNCT
cblr-13858	916	1	§	§	PROPN
cblr-13858	916	2	77d(5	77d(5	NUM
cblr-13858	916	3	)	)	PUNCT
cblr-13858	916	4	,	,	PUNCT
cblr-13858	916	5	(	(	PUNCT
cblr-13858	916	6	2010	2010	NUM
cblr-13858	916	7	)	)	PUNCT
cblr-13858	916	8	.	.	PUNCT
cblr-13858	917	1	229	229	NUM
cblr-13858	918	1	i	i	PRON
cblr-13858	918	2	d.	d.	PROPN
cblr-13858	918	3	230	230	NUM
cblr-13858	918	4	see	see	VERB
cblr-13858	918	5	cohn	cohn	PROPN
cblr-13858	918	6	&	&	CCONJ
cblr-13858	918	7	yadley	yadley	PROPN
cblr-13858	918	8	,	,	PUNCT
cblr-13858	918	9	supra	supra	PROPN
cblr-13858	918	10	note	note	PROPN
cblr-13858	918	11	11	11	NUM
cblr-13858	918	12	,	,	PUNCT
cblr-13858	918	13	at	at	ADP
cblr-13858	918	14	24	24	NUM
cblr-13858	918	15	.	.	PUNCT
cblr-13858	918	16	46	46	NUM
cblr-13858	918	17	columia	columia	PROPN
cblr-13858	918	18	business	business	NOUN
cblr-13858	919	1	la	la	PROPN
cblr-13858	919	2	wreview	wreview	VERB
cblr-13858	919	3	[	[	X
cblr-13858	919	4	vol	vol	NOUN
cblr-13858	919	5	.	.	NOUN
cblr-13858	919	6	2012	2012	NUM
cblr-13858	919	7	b.	b.	PROPN
cblr-13858	919	8	rule	rule	NOUN
cblr-13858	919	9	505	505	NUM
cblr-13858	919	10	rule	rule	NOUN
cblr-13858	919	11	505	505	NUM
cblr-13858	919	12	exempts	exempt	NOUN
cblr-13858	919	13	offerings	offering	NOUN
cblr-13858	919	14	of	of	ADP
cblr-13858	919	15	up	up	ADP
cblr-13858	919	16	to	to	PART
cblr-13858	919	17	$	$	SYM
cblr-13858	919	18	5	5	NUM
cblr-13858	919	19	million.2	million.2	NOUN
cblr-13858	919	20	3	3	NUM
cblr-13858	919	21	1	1	NUM
cblr-13858	919	22	rule	rule	NOUN
cblr-13858	919	23	505	505	NUM
cblr-13858	919	24	is	be	AUX
cblr-13858	919	25	not	not	PART
cblr-13858	919	26	restricted	restrict	VERB
cblr-13858	919	27	to	to	PART
cblr-13858	919	28	accredited	accredit	VERB
cblr-13858	919	29	or	or	CCONJ
cblr-13858	919	30	sophisticated	sophisticated	ADJ
cblr-13858	919	31	purchasers	purchaser	NOUN
cblr-13858	919	32	,	,	PUNCT
cblr-13858	919	33	but	but	CCONJ
cblr-13858	919	34	it	it	PRON
cblr-13858	919	35	is	be	AUX
cblr-13858	919	36	subject	subject	ADJ
cblr-13858	919	37	to	to	ADP
cblr-13858	919	38	the	the	DET
cblr-13858	919	39	same	same	ADJ
cblr-13858	919	40	general	general	ADJ
cblr-13858	919	41	solicitation	solicitation	NOUN
cblr-13858	919	42	prohibition	prohibition	NOUN
cblr-13858	919	43	as	as	ADP
cblr-13858	919	44	rule	rule	NOUN
cblr-13858	919	45	506.232	506.232	NUM
cblr-13858	919	46	also	also	ADV
cblr-13858	919	47	,	,	PUNCT
cblr-13858	919	48	as	as	ADP
cblr-13858	919	49	under	under	ADP
cblr-13858	919	50	rule	rule	NOUN
cblr-13858	919	51	506	506	NUM
cblr-13858	919	52	,	,	PUNCT
cblr-13858	919	53	an	an	DET
cblr-13858	919	54	issuer	issuer	NOUN
cblr-13858	919	55	may	may	AUX
cblr-13858	919	56	sell	sell	VERB
cblr-13858	919	57	to	to	ADP
cblr-13858	919	58	no	no	DET
cblr-13858	919	59	more	more	ADJ
cblr-13858	919	60	than	than	ADP
cblr-13858	919	61	thirty	thirty	NUM
cblr-13858	919	62	-	-	PUNCT
cblr-13858	919	63	five	five	NUM
cblr-13858	919	64	non	non	ADJ
cblr-13858	919	65	-	-	ADJ
cblr-13858	919	66	accredited	accredited	ADJ
cblr-13858	919	67	investors.2	investors.2	PROPN
cblr-13858	919	68	33	33	NUM
cblr-13858	919	69	these	these	DET
cblr-13858	919	70	conditions	condition	NOUN
cblr-13858	919	71	make	make	VERB
cblr-13858	919	72	rule	rule	NOUN
cblr-13858	919	73	505	505	NUM
cblr-13858	919	74	unsuitable	unsuitable	ADJ
cblr-13858	919	75	for	for	ADP
cblr-13858	919	76	crowdfunding	crowdfunde	VERB
cblr-13858	919	77	.	.	PUNCT
cblr-13858	920	1	c.	c.	NOUN
cblr-13858	920	2	rule	rule	VERB
cblr-13858	920	3	504	504	NUM
cblr-13858	920	4	rule	rule	NOUN
cblr-13858	920	5	504	504	NUM
cblr-13858	920	6	exempts	exempt	NOUN
cblr-13858	920	7	offerings	offering	NOUN
cblr-13858	920	8	of	of	ADP
cblr-13858	920	9	up	up	ADP
cblr-13858	920	10	to	to	PART
cblr-13858	920	11	$	$	SYM
cblr-13858	920	12	1	1	NUM
cblr-13858	920	13	million,234	million,234	NOUN
cblr-13858	920	14	but	but	CCONJ
cblr-13858	920	15	rule	rule	VERB
cblr-13858	920	16	504	504	NUM
cblr-13858	920	17	,	,	PUNCT
cblr-13858	920	18	like	like	ADP
cblr-13858	920	19	rules	rule	NOUN
cblr-13858	920	20	505	505	NUM
cblr-13858	920	21	and	and	CCONJ
cblr-13858	920	22	506	506	NUM
cblr-13858	920	23	,	,	PUNCT
cblr-13858	920	24	is	be	AUX
cblr-13858	920	25	subject	subject	ADJ
cblr-13858	920	26	to	to	ADP
cblr-13858	920	27	the	the	DET
cblr-13858	920	28	general	general	ADJ
cblr-13858	920	29	solicitation	solicitation	NOUN
cblr-13858	920	30	restriction.2	restriction.2	VERB
cblr-13858	920	31	35	35	NUM
cblr-13858	920	32	the	the	DET
cblr-13858	920	33	only	only	ADJ
cblr-13858	920	34	exception	exception	NOUN
cblr-13858	920	35	is	be	AUX
cblr-13858	920	36	if	if	SCONJ
cblr-13858	920	37	the	the	DET
cblr-13858	920	38	rule	rule	NOUN
cblr-13858	920	39	504	504	NUM
cblr-13858	920	40	offering	offering	NOUN
cblr-13858	920	41	is	be	AUX
cblr-13858	920	42	subject	subject	ADJ
cblr-13858	920	43	to	to	ADP
cblr-13858	920	44	state	state	NOUN
cblr-13858	920	45	registration	registration	NOUN
cblr-13858	920	46	requirements	requirement	NOUN
cblr-13858	920	47	or	or	CCONJ
cblr-13858	920	48	sold	sell	VERB
cblr-13858	920	49	pursuant	pursuant	ADV
cblr-13858	920	50	to	to	ADP
cblr-13858	920	51	a	a	DET
cblr-13858	920	52	state	state	NOUN
cblr-13858	920	53	exemption	exemption	NOUN
cblr-13858	920	54	that	that	PRON
cblr-13858	920	55	limits	limit	VERB
cblr-13858	920	56	sales	sale	NOUN
cblr-13858	920	57	to	to	ADP
cblr-13858	920	58	accredited	accredited	ADJ
cblr-13858	920	59	investors.2	investors.2	PROPN
cblr-13858	920	60	36	36	NUM
cblr-13858	920	61	one	one	NUM
cblr-13858	920	62	major	major	ADJ
cblr-13858	920	63	crowdfunding	crowdfunding	NOUN
cblr-13858	920	64	site	site	NOUN
cblr-13858	920	65	,	,	PUNCT
cblr-13858	920	66	profounder	profounder	NOUN
cblr-13858	920	67	,	,	PUNCT
cblr-13858	920	68	attempted	attempt	VERB
cblr-13858	920	69	to	to	PART
cblr-13858	920	70	fit	fit	VERB
cblr-13858	920	71	within	within	ADP
cblr-13858	920	72	this	this	DET
cblr-13858	920	73	rule2	rule2	NOUN
cblr-13858	920	74	37	37	NUM
cblr-13858	920	75	by	by	ADP
cblr-13858	920	76	limiting	limit	VERB
cblr-13858	920	77	access	access	NOUN
cblr-13858	920	78	to	to	ADP
cblr-13858	920	79	friends	friend	NOUN
cblr-13858	920	80	,	,	PUNCT
cblr-13858	920	81	family	family	NOUN
cblr-13858	920	82	members	member	NOUN
cblr-13858	920	83	,	,	PUNCT
cblr-13858	920	84	and	and	CCONJ
cblr-13858	920	85	preexisting	preexist	VERB
cblr-13858	920	86	acquaintances	acquaintance	NOUN
cblr-13858	920	87	of	of	ADP
cblr-13858	920	88	each	each	DET
cblr-13858	920	89	entrepreneur	entrepreneur	NOUN
cblr-13858	920	90	-	-	NOUN
cblr-13858	920	91	in	in	ADP
cblr-13858	920	92	other	other	ADJ
cblr-13858	920	93	words	word	NOUN
cblr-13858	920	94	,	,	PUNCT
cblr-13858	920	95	those	those	DET
cblr-13858	920	96	231	231	NUM
cblr-13858	920	97	17	17	NUM
cblr-13858	920	98	c.f.r	c.f.r	NOUN
cblr-13858	920	99	.	.	PUNCT
cblr-13858	921	1	§	§	PROPN
cblr-13858	921	2	230.505(b)(2)(i	230.505(b)(2)(i	NUM
cblr-13858	921	3	)	)	PUNCT
cblr-13858	921	4	.	.	PUNCT
cblr-13858	922	1	232	232	NUM
cblr-13858	922	2	see	see	VERB
cblr-13858	922	3	17	17	NUM
cblr-13858	922	4	c.f.r	c.f.r	NOUN
cblr-13858	922	5	.	.	PUNCT
cblr-13858	923	1	§	§	PROPN
cblr-13858	923	2	230.502(c	230.502(c	PROPN
cblr-13858	923	3	)	)	PUNCT
cblr-13858	923	4	.	.	PUNCT
cblr-13858	924	1	233	233	NUM
cblr-13858	924	2	see	see	VERB
cblr-13858	924	3	17	17	NUM
cblr-13858	924	4	c.f.r	c.f.r	NOUN
cblr-13858	924	5	.	.	PUNCT
cblr-13858	925	1	§	§	PROPN
cblr-13858	925	2	230.505(b)(2)(ii	230.505(b)(2)(ii	NUM
cblr-13858	925	3	)	)	PUNCT
cblr-13858	925	4	(	(	PUNCT
cblr-13858	925	5	permitting	permit	VERB
cblr-13858	925	6	no	no	PRON
cblr-13858	925	7	more	more	ADJ
cblr-13858	925	8	than	than	ADP
cblr-13858	925	9	thirtyfive	thirtyfive	ADJ
cblr-13858	925	10	purchasers	purchaser	NOUN
cblr-13858	925	11	)	)	PUNCT
cblr-13858	925	12	;	;	PUNCT
cblr-13858	925	13	17	17	NUM
cblr-13858	925	14	c.f.r	c.f.r	NOUN
cblr-13858	925	15	.	.	PUNCT
cblr-13858	926	1	§	§	PROPN
cblr-13858	926	2	230.501	230.501	NUM
cblr-13858	926	3	(	(	PUNCT
cblr-13858	926	4	excluding	exclude	VERB
cblr-13858	926	5	accredited	accredit	VERB
cblr-13858	926	6	investors	investor	NOUN
cblr-13858	926	7	from	from	ADP
cblr-13858	926	8	that	that	DET
cblr-13858	926	9	limited	limited	ADJ
cblr-13858	926	10	number	number	NOUN
cblr-13858	926	11	of	of	ADP
cblr-13858	926	12	purchasers	purchaser	NOUN
cblr-13858	926	13	)	)	PUNCT
cblr-13858	926	14	.	.	PUNCT
cblr-13858	927	1	234	234	NUM
cblr-13858	927	2	17	17	NUM
cblr-13858	927	3	c.f.r	c.f.r	NOUN
cblr-13858	927	4	.	.	PUNCT
cblr-13858	928	1	§	§	PROPN
cblr-13858	928	2	230.504(b)(2	230.504(b)(2	NUM
cblr-13858	928	3	)	)	PUNCT
cblr-13858	928	4	.	.	PUNCT
cblr-13858	929	1	235	235	NUM
cblr-13858	929	2	17	17	NUM
cblr-13858	929	3	c.f.r	c.f.r	NOUN
cblr-13858	929	4	.	.	PUNCT
cblr-13858	930	1	§	§	PROPN
cblr-13858	930	2	230.502(c	230.502(c	NUM
cblr-13858	930	3	)	)	PUNCT
cblr-13858	930	4	.	.	PUNCT
cblr-13858	931	1	the	the	DET
cblr-13858	931	2	sec	sec	PROPN
cblr-13858	931	3	eliminated	eliminate	VERB
cblr-13858	931	4	the	the	DET
cblr-13858	931	5	general	general	ADJ
cblr-13858	931	6	solicitation	solicitation	NOUN
cblr-13858	931	7	ban	ban	NOUN
cblr-13858	931	8	for	for	ADP
cblr-13858	931	9	rule	rule	NOUN
cblr-13858	931	10	504	504	NUM
cblr-13858	931	11	offerings	offering	NOUN
cblr-13858	931	12	in	in	ADP
cblr-13858	931	13	1992	1992	NUM
cblr-13858	931	14	,	,	PUNCT
cblr-13858	931	15	but	but	CCONJ
cblr-13858	931	16	reinstated	reinstate	VERB
cblr-13858	931	17	it	it	PRON
cblr-13858	931	18	in	in	ADP
cblr-13858	931	19	its	its	PRON
cblr-13858	931	20	current	current	ADJ
cblr-13858	931	21	form	form	NOUN
cblr-13858	931	22	in	in	ADP
cblr-13858	931	23	1999	1999	NUM
cblr-13858	931	24	.	.	PUNCT
cblr-13858	932	1	see	see	VERB
cblr-13858	932	2	sjostrom	sjostrom	NOUN
cblr-13858	932	3	,	,	PUNCT
cblr-13858	932	4	relaxing	relax	VERB
cblr-13858	932	5	the	the	DET
cblr-13858	932	6	ban	ban	NOUN
cblr-13858	932	7	,	,	PUNCT
cblr-13858	932	8	supra	supra	PROPN
cblr-13858	932	9	note	note	NOUN
cblr-13858	932	10	198	198	NUM
cblr-13858	932	11	,	,	PUNCT
cblr-13858	932	12	at	at	ADP
cblr-13858	932	13	25	25	NUM
cblr-13858	932	14	.	.	PUNCT
cblr-13858	932	15	236	236	NUM
cblr-13858	932	16	see	see	VERB
cblr-13858	932	17	17	17	NUM
cblr-13858	932	18	c.f.r	c.f.r	NOUN
cblr-13858	932	19	.	.	PUNCT
cblr-13858	933	1	§	§	PROPN
cblr-13858	933	2	230.502(c	230.502(c	PROPN
cblr-13858	933	3	)	)	PUNCT
cblr-13858	933	4	(	(	PUNCT
cblr-13858	933	5	stating	state	VERB
cblr-13858	933	6	that	that	DET
cblr-13858	933	7	regulation	regulation	NOUN
cblr-13858	933	8	d	d	NOUN
cblr-13858	933	9	offerings	offering	NOUN
cblr-13858	933	10	may	may	AUX
cblr-13858	933	11	not	not	PART
cblr-13858	933	12	sell	sell	VERB
cblr-13858	933	13	securities	security	NOUN
cblr-13858	933	14	by	by	ADP
cblr-13858	933	15	solicitation	solicitation	NOUN
cblr-13858	933	16	or	or	CCONJ
cblr-13858	933	17	advertising	advertising	NOUN
cblr-13858	933	18	"	"	PUNCT
cblr-13858	933	19	[	[	PUNCT
cblr-13858	933	20	e]xcept	e]xcept	VERB
cblr-13858	933	21	as	as	SCONJ
cblr-13858	933	22	provided	provide	VERB
cblr-13858	933	23	in	in	ADP
cblr-13858	933	24	§	§	PROPN
cblr-13858	933	25	230.504(b)(1	230.504(b)(1	NUM
cblr-13858	933	26	)	)	PUNCT
cblr-13858	933	27	.	.	PUNCT
cblr-13858	933	28	.	.	PUNCT
cblr-13858	933	29	.	.	PUNCT
cblr-13858	934	1	"	"	PUNCT
cblr-13858	934	2	)	)	PUNCT
cblr-13858	934	3	;	;	PUNCT
cblr-13858	934	4	17	17	NUM
cblr-13858	934	5	c.f.r	c.f.r	NOUN
cblr-13858	934	6	.	.	PUNCT
cblr-13858	935	1	§	§	PROPN
cblr-13858	935	2	230.504(b)(1	230.504(b)(1	NUM
cblr-13858	935	3	)	)	PUNCT
cblr-13858	936	1	(	(	PUNCT
cblr-13858	936	2	exempting	exempt	VERB
cblr-13858	936	3	offerings	offering	NOUN
cblr-13858	936	4	sold	sell	VERB
cblr-13858	936	5	in	in	ADP
cblr-13858	936	6	one	one	NUM
cblr-13858	936	7	or	or	CCONJ
cblr-13858	936	8	more	more	ADJ
cblr-13858	936	9	states	state	NOUN
cblr-13858	936	10	requiring	require	VERB
cblr-13858	936	11	registration	registration	NOUN
cblr-13858	936	12	and	and	CCONJ
cblr-13858	936	13	delivery	delivery	NOUN
cblr-13858	936	14	of	of	ADP
cblr-13858	936	15	a	a	DET
cblr-13858	936	16	disclosure	disclosure	NOUN
cblr-13858	936	17	document	document	NOUN
cblr-13858	936	18	to	to	ADP
cblr-13858	936	19	investors	investor	NOUN
cblr-13858	936	20	or	or	CCONJ
cblr-13858	936	21	pursuant	pursuant	VERB
cblr-13858	936	22	to	to	ADP
cblr-13858	936	23	a	a	DET
cblr-13858	936	24	state	state	NOUN
cblr-13858	936	25	exemption	exemption	NOUN
cblr-13858	936	26	allowing	allow	VERB
cblr-13858	936	27	general	general	ADJ
cblr-13858	936	28	solicitation	solicitation	NOUN
cblr-13858	936	29	in	in	ADP
cblr-13858	936	30	offerings	offering	NOUN
cblr-13858	936	31	limited	limit	VERB
cblr-13858	936	32	to	to	ADP
cblr-13858	936	33	accredited	accredit	VERB
cblr-13858	936	34	investors	investor	NOUN
cblr-13858	936	35	)	)	PUNCT
cblr-13858	936	36	.	.	PUNCT
cblr-13858	937	1	237	237	NUM
cblr-13858	937	2	see	see	VERB
cblr-13858	937	3	lang	lang	PROPN
cblr-13858	937	4	,	,	PUNCT
cblr-13858	937	5	supra	supra	PROPN
cblr-13858	937	6	note	note	NOUN
cblr-13858	937	7	106	106	NUM
cblr-13858	937	8	(	(	PUNCT
cblr-13858	937	9	"	"	PUNCT
cblr-13858	937	10	profounder	profounder	NOUN
cblr-13858	937	11	facilitates	facilitate	VERB
cblr-13858	937	12	compliance	compliance	NOUN
cblr-13858	937	13	with	with	ADP
cblr-13858	937	14	regulation	regulation	NOUN
cblr-13858	937	15	d	d	NOUN
cblr-13858	937	16	,	,	PUNCT
cblr-13858	937	17	rule	rule	VERB
cblr-13858	937	18	504	504	NUM
cblr-13858	937	19	.	.	PUNCT
cblr-13858	937	20	"	"	PUNCT
cblr-13858	937	21	)	)	PUNCT
cblr-13858	937	22	.	.	PUNCT
cblr-13858	938	1	as	as	SCONJ
cblr-13858	938	2	previously	previously	ADV
cblr-13858	938	3	discussed	discuss	VERB
cblr-13858	938	4	,	,	PUNCT
cblr-13858	938	5	profounder	profounder	NOUN
cblr-13858	938	6	is	be	AUX
cblr-13858	938	7	no	no	ADV
cblr-13858	938	8	longer	long	ADV
cblr-13858	938	9	selling	sell	VERB
cblr-13858	938	10	securities	security	NOUN
cblr-13858	938	11	.	.	PUNCT
cblr-13858	939	1	see	see	VERB
cblr-13858	939	2	supra	supra	PROPN
cblr-13858	939	3	text	text	NOUN
cblr-13858	939	4	accompanying	accompanying	ADJ
cblr-13858	939	5	notes	note	NOUN
cblr-13858	939	6	100	100	NUM
cblr-13858	939	7	-	-	SYM
cblr-13858	939	8	03	03	NUM
cblr-13858	939	9	.	.	PUNCT
cblr-13858	940	1	no	no	INTJ
cblr-13858	940	2	.	.	PUNCT
cblr-13858	941	1	i:1	i:1	PROPN
cblr-13858	941	2	]	]	PUNCT
cblr-13858	941	3	crowdfunding	crowdfunding	NOUN
cblr-13858	941	4	and	and	CCONJ
cblr-13858	941	5	securities	security	NOUN
cblr-13858	941	6	la	la	PROPN
cblr-13858	941	7	ws	ws	PROPN
cblr-13858	941	8	47	47	NUM
cblr-13858	942	1	columbia	columbia	PROPN
cblr-13858	942	2	business	business	NOUN
cblr-13858	942	3	law	law	PROPN
cblr-13858	942	4	review	review	NOUN
cblr-13858	942	5	with	with	ADP
cblr-13858	942	6	whom	whom	PRON
cblr-13858	942	7	the	the	DET
cblr-13858	942	8	issuer	issuer	NOUN
cblr-13858	942	9	has	have	VERB
cblr-13858	942	10	a	a	DET
cblr-13858	942	11	preexisting	preexist	VERB
cblr-13858	942	12	relationship.2	relationship.2	NOUN
cblr-13858	942	13	38	38	NUM
cblr-13858	942	14	this	this	PRON
cblr-13858	942	15	may	may	AUX
cblr-13858	942	16	solve	solve	VERB
cblr-13858	942	17	the	the	DET
cblr-13858	942	18	general	general	ADJ
cblr-13858	942	19	solicitation	solicitation	NOUN
cblr-13858	942	20	problem	problem	NOUN
cblr-13858	942	21	,	,	PUNCT
cblr-13858	942	22	but	but	CCONJ
cblr-13858	942	23	it	it	PRON
cblr-13858	942	24	eliminates	eliminate	VERB
cblr-13858	942	25	much	much	ADJ
cblr-13858	942	26	of	of	ADP
cblr-13858	942	27	the	the	DET
cblr-13858	942	28	value	value	NOUN
cblr-13858	942	29	of	of	ADP
cblr-13858	942	30	crowdfunding	crowdfunding	NOUN
cblr-13858	942	31	.	.	PUNCT
cblr-13858	943	1	a	a	DET
cblr-13858	943	2	publicly	publicly	ADV
cblr-13858	943	3	accessible	accessible	ADJ
cblr-13858	943	4	crowdfunding	crowdfunding	NOUN
cblr-13858	943	5	offering	offering	NOUN
cblr-13858	943	6	could	could	AUX
cblr-13858	943	7	not	not	PART
cblr-13858	943	8	use	use	VERB
cblr-13858	943	9	rule	rule	NOUN
cblr-13858	943	10	504	504	NUM
cblr-13858	943	11	unless	unless	SCONJ
cblr-13858	943	12	the	the	DET
cblr-13858	943	13	offering	offering	NOUN
cblr-13858	943	14	was	be	AUX
cblr-13858	943	15	registered	register	VERB
cblr-13858	943	16	at	at	ADP
cblr-13858	943	17	the	the	DET
cblr-13858	943	18	state	state	NOUN
cblr-13858	943	19	level	level	NOUN
cblr-13858	943	20	,	,	PUNCT
cblr-13858	943	21	and	and	CCONJ
cblr-13858	943	22	that	that	DET
cblr-13858	943	23	state	state	NOUN
cblr-13858	943	24	registration	registration	NOUN
cblr-13858	943	25	would	would	AUX
cblr-13858	943	26	be	be	AUX
cblr-13858	943	27	prohibitively	prohibitively	ADV
cblr-13858	943	28	expensive.23	expensive.23	PROPN
cblr-13858	943	29	9	9	NUM
cblr-13858	943	30	d.	d.	PROPN
cblr-13858	943	31	regulation	regulation	NOUN
cblr-13858	943	32	a	a	DET
cblr-13858	943	33	regulation	regulation	NOUN
cblr-13858	943	34	a	a	PRON
cblr-13858	943	35	is	be	AUX
cblr-13858	943	36	available	available	ADJ
cblr-13858	943	37	to	to	ADP
cblr-13858	943	38	offerings	offering	NOUN
cblr-13858	943	39	by	by	ADP
cblr-13858	943	40	non	non	ADJ
cblr-13858	943	41	-	-	ADJ
cblr-13858	943	42	reporting	reporting	ADJ
cblr-13858	943	43	companies24	companies24	NOUN
cblr-13858	943	44	0	0	NUM
cblr-13858	943	45	of	of	ADP
cblr-13858	943	46	up	up	ADP
cblr-13858	943	47	to	to	PART
cblr-13858	943	48	$	$	SYM
cblr-13858	943	49	5	5	NUM
cblr-13858	943	50	million.241	million.241	NOUN
cblr-13858	943	51	unlike	unlike	ADP
cblr-13858	943	52	regulation	regulation	NOUN
cblr-13858	943	53	d	d	NOUN
cblr-13858	943	54	,	,	PUNCT
cblr-13858	943	55	regulation	regulation	VERB
cblr-13858	943	56	a	a	PRON
cblr-13858	943	57	does	do	AUX
cblr-13858	943	58	not	not	PART
cblr-13858	943	59	prohibit	prohibit	VERB
cblr-13858	943	60	general	general	ADJ
cblr-13858	943	61	solicitation	solicitation	NOUN
cblr-13858	943	62	.	.	PUNCT
cblr-13858	944	1	it	it	PRON
cblr-13858	944	2	does	do	AUX
cblr-13858	944	3	,	,	PUNCT
cblr-13858	944	4	however	however	ADV
cblr-13858	944	5	,	,	PUNCT
cblr-13858	944	6	require	require	VERB
cblr-13858	944	7	issuers	issuer	NOUN
cblr-13858	944	8	to	to	PART
cblr-13858	944	9	file	file	VERB
cblr-13858	944	10	a	a	DET
cblr-13858	944	11	disclosure	disclosure	NOUN
cblr-13858	944	12	document,2	document,2	NOUN
cblr-13858	944	13	42	42	NUM
cblr-13858	944	14	and	and	CCONJ
cblr-13858	944	15	,	,	PUNCT
cblr-13858	944	16	like	like	ADP
cblr-13858	944	17	section	section	NOUN
cblr-13858	944	18	5	5	NUM
cblr-13858	944	19	of	of	ADP
cblr-13858	944	20	the	the	DET
cblr-13858	944	21	securities	security	NOUN
cblr-13858	944	22	act	act	PROPN
cblr-13858	944	23	,	,	PUNCT
cblr-13858	944	24	regulation	regulation	VERB
cblr-13858	944	25	a	a	DET
cblr-13858	944	26	includes	include	VERB
cblr-13858	944	27	rather	rather	ADV
cblr-13858	944	28	extensive	extensive	ADJ
cblr-13858	944	29	limits	limit	NOUN
cblr-13858	944	30	on	on	ADP
cblr-13858	944	31	communications	communication	NOUN
cblr-13858	944	32	with	with	ADP
cblr-13858	944	33	investors	investor	NOUN
cblr-13858	944	34	,	,	PUNCT
cblr-13858	944	35	tied	tie	VERB
cblr-13858	944	36	to	to	ADP
cblr-13858	944	37	the	the	DET
cblr-13858	944	38	filing	filing	NOUN
cblr-13858	944	39	and	and	CCONJ
cblr-13858	944	40	disclosure	disclosure	NOUN
cblr-13858	944	41	requirements	requirement	NOUN
cblr-13858	944	42	.	.	PUNCT
cblr-13858	945	1	243	243	NUM
cblr-13858	945	2	regulation	regulation	NOUN
cblr-13858	945	3	a	a	NOUN
cblr-13858	945	4	is	be	AUX
cblr-13858	945	5	,	,	PUNCT
cblr-13858	945	6	in	in	ADP
cblr-13858	945	7	effect	effect	NOUN
cblr-13858	945	8	,	,	PUNCT
cblr-13858	945	9	a	a	DET
cblr-13858	945	10	"	"	PUNCT
cblr-13858	945	11	mini	mini	NOUN
cblr-13858	945	12	-	-	NOUN
cblr-13858	945	13	registration	registration	NOUN
cblr-13858	945	14	,	,	PUNCT
cblr-13858	945	15	"	"	PUNCT
cblr-13858	945	16	a	a	DET
cblr-13858	945	17	less	less	ADV
cblr-13858	945	18	expensive	expensive	ADJ
cblr-13858	945	19	version	version	NOUN
cblr-13858	945	20	of	of	ADP
cblr-13858	945	21	what	what	PRON
cblr-13858	945	22	the	the	DET
cblr-13858	945	23	act	act	NOUN
cblr-13858	945	24	itself	itself	PRON
cblr-13858	945	25	requires	require	VERB
cblr-13858	945	26	absent	absent	ADJ
cblr-13858	945	27	an	an	DET
cblr-13858	945	28	exemption.2	exemption.2	PROPN
cblr-13858	945	29	44	44	NUM
cblr-13858	945	30	regulation	regulation	NOUN
cblr-13858	945	31	a	a	PRON
cblr-13858	945	32	is	be	AUX
cblr-13858	945	33	not	not	PART
cblr-13858	945	34	cheap	cheap	ADJ
cblr-13858	945	35	;	;	PUNCT
cblr-13858	945	36	the	the	DET
cblr-13858	945	37	average	average	ADJ
cblr-13858	945	38	cost	cost	NOUN
cblr-13858	945	39	of	of	ADP
cblr-13858	945	40	a	a	DET
cblr-13858	945	41	regulation	regulation	NOUN
cblr-13858	945	42	a	a	DET
cblr-13858	945	43	offering	offering	NOUN
cblr-13858	945	44	in	in	ADP
cblr-13858	945	45	1997	1997	NUM
cblr-13858	945	46	was	be	AUX
cblr-13858	945	47	$	$	SYM
cblr-13858	945	48	40,000	40,000	NUM
cblr-13858	945	49	-	-	PUNCT
cblr-13858	945	50	60,000.245	60,000.245	NOUN
cblr-13858	945	51	this	this	PRON
cblr-13858	945	52	is	be	AUX
cblr-13858	945	53	too	too	ADV
cblr-13858	945	54	expensive	expensive	ADJ
cblr-13858	945	55	for	for	ADP
cblr-13858	945	56	the	the	DET
cblr-13858	945	57	very	very	ADV
cblr-13858	945	58	small	small	ADJ
cblr-13858	945	59	offerings	offering	NOUN
cblr-13858	945	60	that	that	PRON
cblr-13858	945	61	crowdfunding	crowdfunde	VERB
cblr-13858	945	62	attracts.24	attracts.24	NOUN
cblr-13858	945	63	6	6	NUM
cblr-13858	945	64	238	238	NUM
cblr-13858	945	65	entrepreneurs	entrepreneur	NOUN
cblr-13858	945	66	were	be	AUX
cblr-13858	945	67	instructed	instruct	VERB
cblr-13858	945	68	to	to	PART
cblr-13858	945	69	"	"	PUNCT
cblr-13858	945	70	invite	invite	VERB
cblr-13858	945	71	investors	investor	NOUN
cblr-13858	945	72	who	who	PRON
cblr-13858	945	73	are	be	AUX
cblr-13858	945	74	friends	friend	NOUN
cblr-13858	945	75	,	,	PUNCT
cblr-13858	945	76	family	family	NOUN
cblr-13858	945	77	,	,	PUNCT
cblr-13858	945	78	or	or	CCONJ
cblr-13858	945	79	others	other	NOUN
cblr-13858	945	80	who	who	PRON
cblr-13858	945	81	you	you	PRON
cblr-13858	945	82	know	know	VERB
cblr-13858	945	83	in	in	ADP
cblr-13858	945	84	your	your	PRON
cblr-13858	945	85	community	community	NOUN
cblr-13858	945	86	.	.	PUNCT
cblr-13858	945	87	"	"	PUNCT
cblr-13858	946	1	lang	lang	PROPN
cblr-13858	946	2	,	,	PUNCT
cblr-13858	946	3	supra	supra	PROPN
cblr-13858	946	4	note	note	NOUN
cblr-13858	946	5	106	106	NUM
cblr-13858	946	6	.	.	PUNCT
cblr-13858	947	1	entrepreneurs	entrepreneur	NOUN
cblr-13858	947	2	were	be	AUX
cblr-13858	947	3	cautioned	caution	VERB
cblr-13858	947	4	not	not	PART
cblr-13858	947	5	to	to	PART
cblr-13858	947	6	invite	invite	VERB
cblr-13858	947	7	anyone	anyone	PRON
cblr-13858	947	8	with	with	ADP
cblr-13858	947	9	whom	whom	PRON
cblr-13858	947	10	the	the	DET
cblr-13858	947	11	company	company	NOUN
cblr-13858	947	12	"	"	PUNCT
cblr-13858	947	13	does	do	AUX
cblr-13858	947	14	not	not	PART
cblr-13858	947	15	personally	personally	ADV
cblr-13858	947	16	have	have	VERB
cblr-13858	947	17	a	a	DET
cblr-13858	947	18	substantial	substantial	ADJ
cblr-13858	947	19	,	,	PUNCT
cblr-13858	947	20	pre	pre	ADJ
cblr-13858	947	21	-	-	ADJ
cblr-13858	947	22	existing	exist	VERB
cblr-13858	947	23	personal	personal	ADJ
cblr-13858	947	24	relationship	relationship	NOUN
cblr-13858	947	25	.	.	PUNCT
cblr-13858	947	26	"	"	PUNCT
cblr-13858	948	1	company	company	NOUN
cblr-13858	948	2	terms	term	NOUN
cblr-13858	948	3	and	and	CCONJ
cblr-13858	948	4	conditions	condition	NOUN
cblr-13858	948	5	for	for	ADP
cblr-13858	948	6	services	service	NOUN
cblr-13858	948	7	,	,	PUNCT
cblr-13858	948	8	profounder	profounder	NOUN
cblr-13858	948	9	,	,	PUNCT
cblr-13858	948	10	supra	supra	PROPN
cblr-13858	948	11	note	note	NOUN
cblr-13858	948	12	112	112	NUM
cblr-13858	948	13	.	.	PUNCT
cblr-13858	949	1	239	239	NUM
cblr-13858	949	2	see	see	VERB
cblr-13858	949	3	infra	infra	NOUN
cblr-13858	949	4	part	part	NOUN
cblr-13858	949	5	vii.d	vii.d	PROPN
cblr-13858	949	6	.	.	PUNCT
cblr-13858	950	1	see	see	VERB
cblr-13858	950	2	also	also	ADV
cblr-13858	950	3	heminway	heminway	PROPN
cblr-13858	950	4	&	&	CCONJ
cblr-13858	950	5	hoffman	hoffman	PROPN
cblr-13858	950	6	,	,	PUNCT
cblr-13858	950	7	supra	supra	PROPN
cblr-13858	950	8	note	note	PROPN
cblr-13858	950	9	142	142	NUM
cblr-13858	950	10	,	,	PUNCT
cblr-13858	950	11	at	at	ADP
cblr-13858	950	12	919	919	NUM
cblr-13858	950	13	-	-	SYM
cblr-13858	950	14	20	20	NUM
cblr-13858	950	15	.	.	PUNCT
cblr-13858	951	1	240	240	NUM
cblr-13858	951	2	17	17	NUM
cblr-13858	951	3	c.f.r	c.f.r	NOUN
cblr-13858	951	4	.	.	PUNCT
cblr-13858	952	1	§	§	PROPN
cblr-13858	952	2	230.251(a)(2	230.251(a)(2	NUM
cblr-13858	952	3	)	)	PUNCT
cblr-13858	952	4	.	.	PUNCT
cblr-13858	953	1	241	241	NUM
cblr-13858	953	2	17	17	NUM
cblr-13858	953	3	c.f.r	c.f.r	NOUN
cblr-13858	953	4	.	.	PUNCT
cblr-13858	954	1	§	§	PROPN
cblr-13858	954	2	230.251(b	230.251(b	PROPN
cblr-13858	954	3	)	)	PUNCT
cblr-13858	954	4	.	.	PUNCT
cblr-13858	955	1	242	242	NUM
cblr-13858	955	2	17	17	NUM
cblr-13858	955	3	c.f.r	c.f.r	NOUN
cblr-13858	955	4	.	.	PUNCT
cblr-13858	956	1	§	§	PROPN
cblr-13858	956	2	§	§	PROPN
cblr-13858	956	3	230.251(d)(1)(i	230.251(d)(1)(i	NUM
cblr-13858	956	4	)	)	PUNCT
cblr-13858	956	5	,	,	PUNCT
cblr-13858	956	6	230.252	230.252	NUM
cblr-13858	956	7	.	.	PUNCT
cblr-13858	957	1	24	24	NUM
cblr-13858	957	2	see	see	VERB
cblr-13858	957	3	17	17	NUM
cblr-13858	957	4	c.f.r	c.f.r	NOUN
cblr-13858	957	5	.	.	PUNCT
cblr-13858	958	1	§	§	PROPN
cblr-13858	958	2	230.251(d	230.251(d	NUM
cblr-13858	958	3	)	)	PUNCT
cblr-13858	958	4	.	.	PUNCT
cblr-13858	959	1	2	2	X
cblr-13858	959	2	"	"	PUNCT
cblr-13858	959	3	see	see	PROPN
cblr-13858	959	4	harold	harold	PROPN
cblr-13858	959	5	s.	s.	PROPN
cblr-13858	959	6	bloomenthal	bloomenthal	PROPN
cblr-13858	959	7	&	&	CCONJ
cblr-13858	959	8	samuel	samuel	PROPN
cblr-13858	959	9	wolff	wolff	PROPN
cblr-13858	959	10	,	,	PUNCT
cblr-13858	959	11	3a	3a	NUM
cblr-13858	959	12	securities	securities	PROPN
cblr-13858	959	13	and	and	CCONJ
cblr-13858	959	14	federal	federal	ADJ
cblr-13858	959	15	corporate	corporate	ADJ
cblr-13858	959	16	law	law	NOUN
cblr-13858	959	17	6	6	NUM
cblr-13858	959	18	-	-	SYM
cblr-13858	959	19	67	67	NUM
cblr-13858	959	20	(	(	PUNCT
cblr-13858	959	21	2011	2011	NUM
cblr-13858	959	22	rev	rev	X
cblr-13858	959	23	.	.	PUNCT
cblr-13858	959	24	)	)	PUNCT
cblr-13858	960	1	(	(	PUNCT
cblr-13858	960	2	"	"	PUNCT
cblr-13858	960	3	the	the	DET
cblr-13858	960	4	regulation	regulation	NOUN
cblr-13858	960	5	a	a	DET
cblr-13858	960	6	procedures	procedure	NOUN
cblr-13858	960	7	are	be	AUX
cblr-13858	960	8	designed	design	VERB
cblr-13858	960	9	to	to	PART
cblr-13858	960	10	emulate	emulate	VERB
cblr-13858	960	11	the	the	DET
cblr-13858	960	12	procedures	procedure	NOUN
cblr-13858	960	13	relating	relate	VERB
cblr-13858	960	14	to	to	ADP
cblr-13858	960	15	the	the	DET
cblr-13858	960	16	filing	filing	NOUN
cblr-13858	960	17	and	and	CCONJ
cblr-13858	960	18	processing	processing	NOUN
cblr-13858	960	19	of	of	ADP
cblr-13858	960	20	registration	registration	NOUN
cblr-13858	960	21	statements	statement	NOUN
cblr-13858	960	22	with	with	ADP
cblr-13858	960	23	some	some	DET
cblr-13858	960	24	insubstantial	insubstantial	ADJ
cblr-13858	960	25	exceptions	exception	NOUN
cblr-13858	960	26	.	.	PUNCT
cblr-13858	960	27	"	"	PUNCT
cblr-13858	960	28	)	)	PUNCT
cblr-13858	960	29	;	;	PUNCT
cblr-13858	960	30	hazen	hazen	PROPN
cblr-13858	960	31	,	,	PUNCT
cblr-13858	960	32	supra	supra	PROPN
cblr-13858	960	33	note	note	PROPN
cblr-13858	960	34	42	42	NUM
cblr-13858	960	35	,	,	PUNCT
cblr-13858	960	36	at	at	ADP
cblr-13858	960	37	509	509	NUM
cblr-13858	960	38	(	(	PUNCT
cblr-13858	960	39	calling	call	VERB
cblr-13858	960	40	regulation	regulation	NOUN
cblr-13858	960	41	a	a	DET
cblr-13858	960	42	a	a	DET
cblr-13858	960	43	"	"	PUNCT
cblr-13858	960	44	miniregistration	miniregistration	NOUN
cblr-13858	960	45	"	"	PUNCT
cblr-13858	960	46	)	)	PUNCT
cblr-13858	960	47	.	.	PUNCT
cblr-13858	961	1	245	245	NUM
cblr-13858	961	2	hazen	hazen	PROPN
cblr-13858	961	3	supra	supra	PROPN
cblr-13858	961	4	note	note	PROPN
cblr-13858	961	5	42	42	NUM
cblr-13858	961	6	,	,	PUNCT
cblr-13858	961	7	at	at	ADP
cblr-13858	961	8	512	512	NUM
cblr-13858	961	9	n.20	n.20	NOUN
cblr-13858	961	10	.	.	PUNCT
cblr-13858	962	1	see	see	VERB
cblr-13858	962	2	also	also	ADV
cblr-13858	962	3	prifti	prifti	NOUN
cblr-13858	962	4	,	,	PUNCT
cblr-13858	962	5	supra	supra	PROPN
cblr-13858	962	6	note	note	VERB
cblr-13858	962	7	200	200	NUM
cblr-13858	962	8	,	,	PUNCT
cblr-13858	962	9	at	at	ADP
cblr-13858	962	10	1a:17	1a:17	NOUN
cblr-13858	962	11	(	(	PUNCT
cblr-13858	962	12	listing	list	VERB
cblr-13858	962	13	costs	cost	NOUN
cblr-13858	962	14	of	of	ADP
cblr-13858	962	15	a	a	DET
cblr-13858	962	16	regulation	regulation	NOUN
cblr-13858	962	17	a	a	DET
cblr-13858	962	18	offering	offering	NOUN
cblr-13858	962	19	,	,	PUNCT
cblr-13858	962	20	including	include	VERB
cblr-13858	962	21	:	:	PUNCT
cblr-13858	962	22	filing	filing	NOUN
cblr-13858	962	23	fee	fee	NOUN
cblr-13858	962	24	$	$	SYM
cblr-13858	962	25	100	100	NUM
cblr-13858	962	26	;	;	PUNCT
cblr-13858	962	27	48	48	NUM
cblr-13858	962	28	[	[	X
cblr-13858	962	29	vol	vol	NOUN
cblr-13858	962	30	.	.	PUNCT
cblr-13858	962	31	2012	2012	NUM
cblr-13858	962	32	crowdfunding	crowdfunding	NOUN
cblr-13858	962	33	and	and	CCONJ
cblr-13858	962	34	securities	security	NOUN
cblr-13858	962	35	laws	law	NOUN
cblr-13858	962	36	iv	iv	X
cblr-13858	962	37	.	.	PUNCT
cblr-13858	963	1	the	the	DET
cblr-13858	963	2	status	status	NOUN
cblr-13858	963	3	of	of	ADP
cblr-13858	963	4	crowdfunding	crowdfunde	VERB
cblr-13858	963	5	sites	site	NOUN
cblr-13858	963	6	under	under	ADP
cblr-13858	963	7	federal	federal	ADJ
cblr-13858	963	8	securities	security	NOUN
cblr-13858	963	9	law	law	NOUN
cblr-13858	963	10	the	the	DET
cblr-13858	963	11	proposals	proposal	NOUN
cblr-13858	963	12	to	to	PART
cblr-13858	963	13	exempt	exempt	VERB
cblr-13858	963	14	crowdfunding	crowdfunding	NOUN
cblr-13858	963	15	focus	focus	NOUN
cblr-13858	963	16	primarily	primarily	ADV
cblr-13858	963	17	on	on	ADP
cblr-13858	963	18	the	the	DET
cblr-13858	963	19	offerings	offering	NOUN
cblr-13858	963	20	themselves	themselves	PRON
cblr-13858	963	21	and	and	CCONJ
cblr-13858	963	22	the	the	DET
cblr-13858	963	23	need	need	NOUN
cblr-13858	963	24	for	for	ADP
cblr-13858	963	25	an	an	DET
cblr-13858	963	26	exemption	exemption	NOUN
cblr-13858	963	27	from	from	ADP
cblr-13858	963	28	securities	security	NOUN
cblr-13858	963	29	act	act	NOUN
cblr-13858	963	30	registration	registration	NOUN
cblr-13858	963	31	.	.	PUNCT
cblr-13858	963	32	"	"	PUNCT
cblr-13858	964	1	but	but	CCONJ
cblr-13858	964	2	crowdfunding	crowdfunding	NOUN
cblr-13858	964	3	can	can	AUX
cblr-13858	964	4	function	function	VERB
cblr-13858	964	5	effectively	effectively	ADV
cblr-13858	964	6	only	only	ADV
cblr-13858	964	7	through	through	ADP
cblr-13858	964	8	web	web	NOUN
cblr-13858	964	9	sites	site	NOUN
cblr-13858	964	10	that	that	PRON
cblr-13858	964	11	bring	bring	VERB
cblr-13858	964	12	entrepreneurs	entrepreneur	NOUN
cblr-13858	964	13	and	and	CCONJ
cblr-13858	964	14	potential	potential	ADJ
cblr-13858	964	15	investors	investor	NOUN
cblr-13858	964	16	together	together	ADV
cblr-13858	964	17	.	.	PUNCT
cblr-13858	965	1	the	the	DET
cblr-13858	965	2	operation	operation	NOUN
cblr-13858	965	3	of	of	ADP
cblr-13858	965	4	those	those	DET
cblr-13858	965	5	sites	site	NOUN
cblr-13858	965	6	raises	raise	VERB
cblr-13858	965	7	a	a	DET
cblr-13858	965	8	different	different	ADJ
cblr-13858	965	9	set	set	NOUN
cblr-13858	965	10	of	of	ADP
cblr-13858	965	11	issues	issue	NOUN
cblr-13858	965	12	under	under	ADP
cblr-13858	965	13	federal	federal	ADJ
cblr-13858	965	14	securities	security	NOUN
cblr-13858	965	15	law	law	NOUN
cblr-13858	965	16	.	.	PUNCT
cblr-13858	966	1	if	if	SCONJ
cblr-13858	966	2	the	the	DET
cblr-13858	966	3	investments	investment	NOUN
cblr-13858	966	4	offered	offer	VERB
cblr-13858	966	5	on	on	ADP
cblr-13858	966	6	crowdfunding	crowdfunde	VERB
cblr-13858	966	7	sites	site	NOUN
cblr-13858	966	8	are	be	AUX
cblr-13858	966	9	securities	security	NOUN
cblr-13858	966	10	,	,	PUNCT
cblr-13858	966	11	crowdfunding	crowdfunde	VERB
cblr-13858	966	12	site	site	NOUN
cblr-13858	966	13	operators	operator	NOUN
cblr-13858	966	14	could	could	AUX
cblr-13858	966	15	be	be	AUX
cblr-13858	966	16	brokers	broker	NOUN
cblr-13858	966	17	subject	subject	ADJ
cblr-13858	966	18	to	to	ADP
cblr-13858	966	19	regulation	regulation	NOUN
cblr-13858	966	20	under	under	ADP
cblr-13858	966	21	the	the	DET
cblr-13858	966	22	exchange	exchange	NOUN
cblr-13858	966	23	act	act	NOUN
cblr-13858	966	24	or	or	CCONJ
cblr-13858	966	25	investment	investment	NOUN
cblr-13858	966	26	advisers	adviser	NOUN
cblr-13858	966	27	under	under	ADP
cblr-13858	966	28	the	the	DET
cblr-13858	966	29	investment	investment	NOUN
cblr-13858	966	30	advisers	adviser	NOUN
cblr-13858	966	31	act	act	VERB
cblr-13858	966	32	.	.	PUNCT
cblr-13858	967	1	they	they	PRON
cblr-13858	967	2	would	would	AUX
cblr-13858	967	3	not	not	PART
cblr-13858	967	4	,	,	PUNCT
cblr-13858	967	5	however	however	ADV
cblr-13858	967	6	,	,	PUNCT
cblr-13858	967	7	be	be	AUX
cblr-13858	967	8	regulated	regulate	VERB
cblr-13858	967	9	as	as	ADP
cblr-13858	967	10	exchanges	exchange	NOUN
cblr-13858	967	11	.	.	PUNCT
cblr-13858	968	1	underwriting	underwriting	NOUN
cblr-13858	968	2	costs	cost	VERB
cblr-13858	968	3	10	10	NUM
cblr-13858	968	4	-	-	SYM
cblr-13858	968	5	18	18	NUM
cblr-13858	968	6	%	%	NOUN
cblr-13858	968	7	of	of	ADP
cblr-13858	968	8	the	the	DET
cblr-13858	968	9	offering	offering	NOUN
cblr-13858	968	10	amount	amount	NOUN
cblr-13858	968	11	;	;	PUNCT
cblr-13858	968	12	printing	printing	NOUN
cblr-13858	968	13	costs	cost	VERB
cblr-13858	968	14	$	$	SYM
cblr-13858	968	15	7,50015,000	7,50015,000	NUM
cblr-13858	968	16	;	;	PUNCT
cblr-13858	968	17	engraving	engrave	VERB
cblr-13858	968	18	stock	stock	NOUN
cblr-13858	968	19	certificates	certificate	NOUN
cblr-13858	968	20	$	$	SYM
cblr-13858	968	21	1,500	1,500	NUM
cblr-13858	968	22	;	;	PUNCT
cblr-13858	968	23	legal	legal	ADJ
cblr-13858	968	24	costs	cost	NOUN
cblr-13858	968	25	%	%	INTJ
cblr-13858	968	26	-3	-3	INTJ
cblr-13858	968	27	%	%	NOUN
cblr-13858	968	28	of	of	ADP
cblr-13858	968	29	the	the	DET
cblr-13858	968	30	offering	offering	NOUN
cblr-13858	968	31	amount	amount	NOUN
cblr-13858	968	32	;	;	PUNCT
cblr-13858	968	33	accounting	accounting	NOUN
cblr-13858	968	34	costs	cost	VERB
cblr-13858	968	35	$	$	SYM
cblr-13858	968	36	5,000	5,000	NUM
cblr-13858	968	37	-	-	SYM
cblr-13858	968	38	20,000	20,000	NUM
cblr-13858	968	39	;	;	PUNCT
cblr-13858	968	40	expert	expert	NOUN
cblr-13858	968	41	fees	fee	NOUN
cblr-13858	968	42	$	$	SYM
cblr-13858	968	43	300	300	NUM
cblr-13858	968	44	-	-	NUM
cblr-13858	968	45	5,000	5,000	NUM
cblr-13858	968	46	;	;	PUNCT
cblr-13858	968	47	state	state	NOUN
cblr-13858	968	48	filing	filing	NOUN
cblr-13858	968	49	fees	fee	NOUN
cblr-13858	968	50	$	$	SYM
cblr-13858	968	51	150	150	NUM
cblr-13858	968	52	-	-	SYM
cblr-13858	968	53	4,000	4,000	NUM
cblr-13858	968	54	per	per	ADP
cblr-13858	968	55	state	state	NOUN
cblr-13858	968	56	;	;	PUNCT
cblr-13858	968	57	and	and	CCONJ
cblr-13858	968	58	nasd	nasd	NOUN
cblr-13858	968	59	filing	filing	NOUN
cblr-13858	968	60	fees	fee	NOUN
cblr-13858	968	61	$	$	SYM
cblr-13858	968	62	500	500	NUM
cblr-13858	968	63	plus	plus	CCONJ
cblr-13858	968	64	0.01	0.01	NUM
cblr-13858	968	65	%	%	NOUN
cblr-13858	968	66	of	of	ADP
cblr-13858	968	67	the	the	DET
cblr-13858	968	68	offering	offering	NOUN
cblr-13858	968	69	amount	amount	NOUN
cblr-13858	968	70	)	)	PUNCT
cblr-13858	968	71	.	.	PUNCT
cblr-13858	969	1	2	2	NUM
cblr-13858	969	2	see	see	VERB
cblr-13858	969	3	rutheford	rutheford	PROPN
cblr-13858	969	4	b	b	PROPN
cblr-13858	969	5	campbell	campbell	PROPN
cblr-13858	969	6	,	,	PUNCT
cblr-13858	969	7	regulation	regulation	VERB
cblr-13858	969	8	a	a	DET
cblr-13858	969	9	:	:	PUNCT
cblr-13858	969	10	small	small	ADJ
cblr-13858	969	11	businesses	business	NOUN
cblr-13858	969	12	'	'	PART
cblr-13858	969	13	search	search	NOUN
cblr-13858	969	14	for	for	ADP
cblr-13858	969	15	a	a	DET
cblr-13858	969	16	moderate	moderate	ADJ
cblr-13858	969	17	capital	capital	NOUN
cblr-13858	969	18	,	,	PUNCT
cblr-13858	969	19	"	"	PUNCT
cblr-13858	969	20	31	31	NUM
cblr-13858	969	21	del	del	PROPN
cblr-13858	969	22	.	.	PROPN
cblr-13858	969	23	j.	j.	PROPN
cblr-13858	969	24	corp	corp	PROPN
cblr-13858	969	25	.	.	PROPN
cblr-13858	969	26	l.	l.	PROPN
cblr-13858	969	27	77	77	NUM
cblr-13858	969	28	,	,	PUNCT
cblr-13858	969	29	111	111	NUM
cblr-13858	969	30	(	(	PUNCT
cblr-13858	969	31	2006	2006	NUM
cblr-13858	969	32	)	)	PUNCT
cblr-13858	969	33	(	(	PUNCT
cblr-13858	969	34	"	"	PUNCT
cblr-13858	969	35	on	on	ADP
cblr-13858	969	36	the	the	DET
cblr-13858	969	37	small	small	ADJ
cblr-13858	969	38	offering	offering	NOUN
cblr-13858	969	39	end	end	NOUN
cblr-13858	969	40	of	of	ADP
cblr-13858	969	41	the	the	DET
cblr-13858	969	42	regulation	regulation	NOUN
cblr-13858	969	43	a	a	DET
cblr-13858	969	44	spectrum	spectrum	NOUN
cblr-13858	969	45	..	..	PUNCT
cblr-13858	969	46	.	.	PUNCT
cblr-13858	970	1	issuers	issuer	NOUN
cblr-13858	970	2	are	be	AUX
cblr-13858	970	3	discouraged	discourage	VERB
cblr-13858	970	4	from	from	ADP
cblr-13858	970	5	using	use	VERB
cblr-13858	970	6	regulation	regulation	NOUN
cblr-13858	970	7	a	a	PRON
cblr-13858	970	8	by	by	ADP
cblr-13858	970	9	the	the	DET
cblr-13858	970	10	complexities	complexity	NOUN
cblr-13858	970	11	of	of	ADP
cblr-13858	970	12	the	the	DET
cblr-13858	970	13	filing	filing	NOUN
cblr-13858	970	14	,	,	PUNCT
cblr-13858	970	15	disclosure	disclosure	NOUN
cblr-13858	970	16	,	,	PUNCT
cblr-13858	970	17	and	and	CCONJ
cblr-13858	970	18	other	other	ADJ
cblr-13858	970	19	requirements	requirement	NOUN
cblr-13858	970	20	and	and	CCONJ
cblr-13858	970	21	by	by	ADP
cblr-13858	970	22	the	the	DET
cblr-13858	970	23	difficulties	difficulty	NOUN
cblr-13858	970	24	in	in	ADP
cblr-13858	970	25	many	many	ADJ
cblr-13858	970	26	instances	instance	NOUN
cblr-13858	970	27	of	of	ADP
cblr-13858	970	28	meeting	meet	VERB
cblr-13858	970	29	state	state	NOUN
cblr-13858	970	30	blue	blue	ADJ
cblr-13858	970	31	sky	sky	NOUN
cblr-13858	970	32	law	law	NOUN
cblr-13858	970	33	requirements	requirement	NOUN
cblr-13858	970	34	.	.	PUNCT
cblr-13858	971	1	together	together	ADV
cblr-13858	971	2	,	,	PUNCT
cblr-13858	971	3	the	the	DET
cblr-13858	971	4	costs	cost	NOUN
cblr-13858	971	5	of	of	ADP
cblr-13858	971	6	meeting	meet	VERB
cblr-13858	971	7	these	these	DET
cblr-13858	971	8	federal	federal	ADJ
cblr-13858	971	9	and	and	CCONJ
cblr-13858	971	10	state	state	NOUN
cblr-13858	971	11	requirements	requirement	NOUN
cblr-13858	971	12	overwhelm	overwhelm	VERB
cblr-13858	971	13	any	any	DET
cblr-13858	971	14	benefit	benefit	NOUN
cblr-13858	971	15	a	a	DET
cblr-13858	971	16	small	small	ADJ
cblr-13858	971	17	business	business	NOUN
cblr-13858	971	18	would	would	AUX
cblr-13858	971	19	attain	attain	VERB
cblr-13858	971	20	from	from	ADP
cblr-13858	971	21	utilizing	utilize	VERB
cblr-13858	971	22	regulation	regulation	NOUN
cblr-13858	971	23	a.	a.	NOUN
cblr-13858	971	24	"	"	PUNCT
cblr-13858	971	25	)	)	PUNCT
cblr-13858	971	26	.	.	PUNCT
cblr-13858	972	1	see	see	AUX
cblr-13858	972	2	also	also	ADV
cblr-13858	972	3	bloomenthal	bloomenthal	VERB
cblr-13858	972	4	&	&	CCONJ
cblr-13858	972	5	wolff	wolff	PROPN
cblr-13858	972	6	,	,	PUNCT
cblr-13858	972	7	supra	supra	PROPN
cblr-13858	972	8	note	note	NOUN
cblr-13858	972	9	244	244	NUM
cblr-13858	972	10	,	,	PUNCT
cblr-13858	972	11	at	at	ADP
cblr-13858	972	12	6	6	NUM
cblr-13858	972	13	-	-	SYM
cblr-13858	972	14	49	49	NUM
cblr-13858	972	15	(	(	PUNCT
cblr-13858	972	16	noting	note	VERB
cblr-13858	972	17	that	that	SCONJ
cblr-13858	972	18	small	small	ADJ
cblr-13858	972	19	businesses	business	NOUN
cblr-13858	972	20	do	do	AUX
cblr-13858	972	21	not	not	PART
cblr-13858	972	22	use	use	VERB
cblr-13858	972	23	regulation	regulation	NOUN
cblr-13858	972	24	a	a	DET
cblr-13858	972	25	much	much	ADJ
cblr-13858	972	26	)	)	PUNCT
cblr-13858	972	27	;	;	PUNCT
cblr-13858	972	28	sjostrom	sjostrom	ADJ
cblr-13858	972	29	,	,	PUNCT
cblr-13858	972	30	relaxing	relax	VERB
cblr-13858	972	31	the	the	DET
cblr-13858	972	32	ban	ban	NOUN
cblr-13858	972	33	,	,	PUNCT
cblr-13858	972	34	supra	supra	PROPN
cblr-13858	972	35	note	note	NOUN
cblr-13858	972	36	198	198	NUM
cblr-13858	972	37	,	,	PUNCT
cblr-13858	972	38	at	at	ADP
cblr-13858	972	39	26	26	NUM
cblr-13858	972	40	(	(	PUNCT
cblr-13858	972	41	"	"	PUNCT
cblr-13858	972	42	preparing	prepare	VERB
cblr-13858	972	43	a	a	DET
cblr-13858	972	44	regulation	regulation	NOUN
cblr-13858	972	45	a	a	DET
cblr-13858	972	46	offering	offering	NOUN
cblr-13858	972	47	statement	statement	NOUN
cblr-13858	972	48	can	can	AUX
cblr-13858	972	49	cost	cost	VERB
cblr-13858	972	50	a	a	DET
cblr-13858	972	51	small	small	ADJ
cblr-13858	972	52	company	company	NOUN
cblr-13858	972	53	a	a	DET
cblr-13858	972	54	significant	significant	ADJ
cblr-13858	972	55	amount	amount	NOUN
cblr-13858	972	56	of	of	ADP
cblr-13858	972	57	money	money	NOUN
cblr-13858	972	58	and	and	CCONJ
cblr-13858	972	59	management	management	NOUN
cblr-13858	972	60	time	time	NOUN
cblr-13858	972	61	.	.	PUNCT
cblr-13858	973	1	"	"	PUNCT
cblr-13858	973	2	)	)	PUNCT
cblr-13858	973	3	.	.	PUNCT
cblr-13858	974	1	247	247	NUM
cblr-13858	974	2	see	see	NOUN
cblr-13858	974	3	,	,	PUNCT
cblr-13858	974	4	e.g.	e.g.	ADV
cblr-13858	974	5	,	,	PUNCT
cblr-13858	974	6	letter	letter	NOUN
cblr-13858	974	7	from	from	ADP
cblr-13858	974	8	woodie	woodie	PROPN
cblr-13858	974	9	neiss	neiss	PROPN
cblr-13858	974	10	,	,	PUNCT
cblr-13858	974	11	member	member	NOUN
cblr-13858	974	12	,	,	PUNCT
cblr-13858	974	13	sbe	sbe	PROPN
cblr-13858	974	14	council	council	PROPN
cblr-13858	974	15	advisory	advisory	PROPN
cblr-13858	974	16	committee	committee	NOUN
cblr-13858	974	17	,	,	PUNCT
cblr-13858	974	18	to	to	ADP
cblr-13858	974	19	gerald	gerald	PROPN
cblr-13858	974	20	j.	j.	PROPN
cblr-13858	974	21	laporte	laporte	PROPN
cblr-13858	974	22	,	,	PUNCT
cblr-13858	974	23	chief	chief	NOUN
cblr-13858	974	24	,	,	PUNCT
cblr-13858	974	25	office	office	NOUN
cblr-13858	974	26	of	of	ADP
cblr-13858	974	27	small	small	ADJ
cblr-13858	974	28	business	business	NOUN
cblr-13858	974	29	policy	policy	NOUN
cblr-13858	974	30	,	,	PUNCT
cblr-13858	974	31	division	division	NOUN
cblr-13858	974	32	of	of	ADP
cblr-13858	974	33	corporate	corporate	ADJ
cblr-13858	974	34	finance	finance	NOUN
cblr-13858	974	35	,	,	PUNCT
cblr-13858	974	36	sec	sec	PROPN
cblr-13858	974	37	(	(	PUNCT
cblr-13858	974	38	dec	dec	PROPN
cblr-13858	974	39	.	.	PROPN
cblr-13858	974	40	21	21	NUM
cblr-13858	974	41	,	,	PUNCT
cblr-13858	974	42	2010	2010	NUM
cblr-13858	974	43	)	)	PUNCT
cblr-13858	974	44	,	,	PUNCT
cblr-13858	974	45	available	available	ADJ
cblr-13858	974	46	at	at	ADP
cblr-13858	974	47	http://www.sec.gov/info/smallbus/2010gbforum/20ogbforum-sbe.pdf	http://www.sec.gov/info/smallbus/2010gbforum/20ogbforum-sbe.pdf	PROPN
cblr-13858	974	48	[	[	X
cblr-13858	974	49	hereinafter	hereinafter	NOUN
cblr-13858	974	50	sbe	sbe	PROPN
cblr-13858	974	51	council	council	NOUN
cblr-13858	974	52	proposal	proposal	NOUN
cblr-13858	974	53	]	]	PUNCT
cblr-13858	974	54	;	;	PUNCT
cblr-13858	974	55	request	request	NOUN
cblr-13858	974	56	for	for	ADP
cblr-13858	974	57	rulemaking	rulemake	VERB
cblr-13858	974	58	to	to	PART
cblr-13858	974	59	exempt	exempt	VERB
cblr-13858	974	60	securities	security	NOUN
cblr-13858	974	61	offerings	offering	NOUN
cblr-13858	974	62	up	up	ADP
cblr-13858	974	63	to	to	PART
cblr-13858	974	64	$	$	SYM
cblr-13858	974	65	100,000	100,000	NUM
cblr-13858	974	66	with	with	ADP
cblr-13858	974	67	$	$	SYM
cblr-13858	974	68	100	100	NUM
cblr-13858	974	69	maximum	maximum	NOUN
cblr-13858	974	70	per	per	ADP
cblr-13858	974	71	investor	investor	NOUN
cblr-13858	974	72	from	from	ADP
cblr-13858	974	73	registration	registration	NOUN
cblr-13858	974	74	,	,	PUNCT
cblr-13858	974	75	sec	sec	PROPN
cblr-13858	974	76	,	,	PUNCT
cblr-13858	974	77	file	file	VERB
cblr-13858	974	78	no	no	NOUN
cblr-13858	974	79	.	.	NOUN
cblr-13858	974	80	4	4	NUM
cblr-13858	974	81	-	-	SYM
cblr-13858	974	82	605	605	NUM
cblr-13858	974	83	,	,	PUNCT
cblr-13858	974	84	available	available	ADJ
cblr-13858	974	85	at	at	ADP
cblr-13858	974	86	http://www.sec.gov	http://www.sec.gov	PROPN
cblr-13858	974	87	/rules	/rule	NOUN
cblr-13858	974	88	/	/	SYM
cblr-13858	974	89	petitions.shtml	petitions.shtml	NOUN
cblr-13858	974	90	;	;	PUNCT
cblr-13858	974	91	factsheet	factsheet	NOUN
cblr-13858	974	92	and	and	CCONJ
cblr-13858	974	93	overview	overview	NOUN
cblr-13858	974	94	for	for	ADP
cblr-13858	974	95	aja	aja	PROPN
cblr-13858	974	96	,	,	PUNCT
cblr-13858	974	97	supra	supra	PROPN
cblr-13858	974	98	note	note	PROPN
cblr-13858	974	99	7	7	NUM
cblr-13858	974	100	;	;	PUNCT
cblr-13858	974	101	about	about	ADP
cblr-13858	974	102	us	we	PRON
cblr-13858	974	103	,	,	PUNCT
cblr-13858	974	104	startup	startup	NOUN
cblr-13858	974	105	exemption	exemption	NOUN
cblr-13858	974	106	,	,	PUNCT
cblr-13858	974	107	http://www.startupexemption.com/	http://www.startupexemption.com/	NOUN
cblr-13858	974	108	?	?	PUNCT
cblr-13858	974	109	page	page	NOUN
cblr-13858	974	110	id=91#axzzlt9ywt6vm	id=91#axzzlt9ywt6vm	NOUN
cblr-13858	974	111	(	(	PUNCT
cblr-13858	974	112	last	last	ADV
cblr-13858	974	113	visited	visit	VERB
cblr-13858	974	114	mar	mar	PROPN
cblr-13858	974	115	.	.	PROPN
cblr-13858	974	116	5	5	NUM
cblr-13858	974	117	,	,	PUNCT
cblr-13858	974	118	2012	2012	NUM
cblr-13858	974	119	)	)	PUNCT
cblr-13858	974	120	.	.	PUNCT
cblr-13858	975	1	no	no	INTJ
cblr-13858	975	2	.	.	NOUN
cblr-13858	976	1	1	1	NUM
cblr-13858	976	2	:	:	SYM
cblr-13858	976	3	1	1	NUM
cblr-13858	976	4	]	]	SYM
cblr-13858	976	5	49	49	NUM
cblr-13858	976	6	unfortunately	unfortunately	ADV
cblr-13858	976	7	,	,	PUNCT
cblr-13858	976	8	the	the	DET
cblr-13858	976	9	definitions	definition	NOUN
cblr-13858	976	10	of	of	ADP
cblr-13858	976	11	"	"	PUNCT
cblr-13858	976	12	broker	broker	NOUN
cblr-13858	976	13	"	"	PUNCT
cblr-13858	976	14	and	and	CCONJ
cblr-13858	976	15	"	"	PUNCT
cblr-13858	976	16	investment	investment	NOUN
cblr-13858	976	17	adviser	adviser	NOUN
cblr-13858	976	18	"	"	PUNCT
cblr-13858	976	19	are	be	AUX
cblr-13858	976	20	ambiguous	ambiguous	ADJ
cblr-13858	976	21	,	,	PUNCT
cblr-13858	976	22	so	so	ADV
cblr-13858	976	23	the	the	DET
cblr-13858	976	24	status	status	NOUN
cblr-13858	976	25	of	of	ADP
cblr-13858	976	26	crowdfunding	crowdfunding	NOUN
cblr-13858	976	27	sites	site	NOUN
cblr-13858	976	28	is	be	AUX
cblr-13858	976	29	uncertain	uncertain	ADJ
cblr-13858	976	30	.	.	PUNCT
cblr-13858	977	1	there	there	PRON
cblr-13858	977	2	is	be	VERB
cblr-13858	977	3	a	a	DET
cblr-13858	977	4	strong	strong	ADJ
cblr-13858	977	5	possibility	possibility	NOUN
cblr-13858	977	6	that	that	SCONJ
cblr-13858	977	7	crowdfunding	crowdfunde	VERB
cblr-13858	977	8	site	site	NOUN
cblr-13858	977	9	operators	operator	NOUN
cblr-13858	977	10	would	would	AUX
cblr-13858	977	11	be	be	AUX
cblr-13858	977	12	brokers	broker	NOUN
cblr-13858	977	13	and	and	CCONJ
cblr-13858	977	14	a	a	DET
cblr-13858	977	15	somewhat	somewhat	ADV
cblr-13858	977	16	smaller	small	ADJ
cblr-13858	977	17	chance	chance	NOUN
cblr-13858	977	18	that	that	SCONJ
cblr-13858	977	19	they	they	PRON
cblr-13858	977	20	would	would	AUX
cblr-13858	977	21	be	be	AUX
cblr-13858	977	22	investment	investment	NOUN
cblr-13858	977	23	advisers	adviser	NOUN
cblr-13858	977	24	.	.	PUNCT
cblr-13858	978	1	a.	a.	PROPN
cblr-13858	978	2	are	be	AUX
cblr-13858	978	3	crowdfunding	crowdfunde	VERB
cblr-13858	978	4	sites	site	NOUN
cblr-13858	978	5	exchanges	exchange	NOUN
cblr-13858	978	6	?	?	PUNCT
cblr-13858	979	1	at	at	ADP
cblr-13858	979	2	first	first	ADJ
cblr-13858	979	3	blush	blush	NOUN
cblr-13858	979	4	,	,	PUNCT
cblr-13858	979	5	crowdfunding	crowdfunding	NOUN
cblr-13858	979	6	sites	site	NOUN
cblr-13858	979	7	might	might	AUX
cblr-13858	979	8	seem	seem	VERB
cblr-13858	979	9	to	to	PART
cblr-13858	979	10	be	be	AUX
cblr-13858	979	11	securities	security	NOUN
cblr-13858	979	12	"	"	PUNCT
cblr-13858	979	13	exchanges	exchange	NOUN
cblr-13858	979	14	"	"	PUNCT
cblr-13858	979	15	required	require	VERB
cblr-13858	979	16	to	to	PART
cblr-13858	979	17	register	register	VERB
cblr-13858	979	18	under	under	ADP
cblr-13858	979	19	the	the	DET
cblr-13858	979	20	exchange	exchange	NOUN
cblr-13858	979	21	act	act	PROPN
cblr-13858	979	22	.	.	PUNCT
cblr-13858	980	1	section	section	NOUN
cblr-13858	980	2	3(a)(1	3(a)(1	NUM
cblr-13858	980	3	)	)	PUNCT
cblr-13858	980	4	of	of	ADP
cblr-13858	980	5	the	the	DET
cblr-13858	980	6	exchange	exchange	NOUN
cblr-13858	980	7	act	act	PROPN
cblr-13858	980	8	defines	define	VERB
cblr-13858	980	9	"	"	PUNCT
cblr-13858	980	10	exchange	exchange	NOUN
cblr-13858	980	11	"	"	PUNCT
cblr-13858	980	12	as	as	ADP
cblr-13858	980	13	an	an	DET
cblr-13858	980	14	"	"	PUNCT
cblr-13858	980	15	organization	organization	NOUN
cblr-13858	980	16	,	,	PUNCT
cblr-13858	980	17	association	association	NOUN
cblr-13858	980	18	,	,	PUNCT
cblr-13858	980	19	or	or	CCONJ
cblr-13858	980	20	group	group	NOUN
cblr-13858	980	21	of	of	ADP
cblr-13858	980	22	persons	person	NOUN
cblr-13858	980	23	"	"	PUNCT
cblr-13858	980	24	that	that	PRON
cblr-13858	980	25	"	"	PUNCT
cblr-13858	980	26	constitutes	constitute	NOUN
cblr-13858	980	27	,	,	PUNCT
cblr-13858	980	28	maintains	maintain	VERB
cblr-13858	980	29	,	,	PUNCT
cblr-13858	980	30	or	or	CCONJ
cblr-13858	980	31	provides	provide	VERB
cblr-13858	980	32	a	a	DET
cblr-13858	980	33	market	market	NOUN
cblr-13858	980	34	place	place	NOUN
cblr-13858	980	35	or	or	CCONJ
cblr-13858	980	36	facilities	facility	NOUN
cblr-13858	980	37	for	for	ADP
cblr-13858	980	38	bringing	bring	VERB
cblr-13858	980	39	together	together	ADV
cblr-13858	980	40	purchasers	purchaser	NOUN
cblr-13858	980	41	and	and	CCONJ
cblr-13858	980	42	sellers	seller	NOUN
cblr-13858	980	43	of	of	ADP
cblr-13858	980	44	securities	security	NOUN
cblr-13858	980	45	or	or	CCONJ
cblr-13858	980	46	for	for	ADP
cblr-13858	980	47	otherwise	otherwise	ADV
cblr-13858	980	48	performing	perform	VERB
cblr-13858	980	49	with	with	ADP
cblr-13858	980	50	respect	respect	NOUN
cblr-13858	980	51	to	to	ADP
cblr-13858	980	52	securities	security	NOUN
cblr-13858	980	53	the	the	DET
cblr-13858	980	54	functions	function	NOUN
cblr-13858	980	55	commonly	commonly	ADV
cblr-13858	980	56	performed	perform	VERB
cblr-13858	980	57	by	by	ADP
cblr-13858	980	58	a	a	DET
cblr-13858	980	59	stock	stock	NOUN
cblr-13858	980	60	exchange	exchange	NOUN
cblr-13858	980	61	as	as	SCONJ
cblr-13858	980	62	that	that	DET
cblr-13858	980	63	term	term	NOUN
cblr-13858	980	64	is	be	AUX
cblr-13858	980	65	generally	generally	ADV
cblr-13858	980	66	understood	understand	VERB
cblr-13858	980	67	.	.	PUNCT
cblr-13858	980	68	.	.	PUNCT
cblr-13858	980	69	.	.	PUNCT
cblr-13858	981	1	."248	."248	PUNCT
cblr-13858	982	1	crowdfunding	crowdfunding	NOUN
cblr-13858	982	2	sites	site	NOUN
cblr-13858	982	3	bring	bring	VERB
cblr-13858	982	4	together	together	ADV
cblr-13858	982	5	investors	investor	NOUN
cblr-13858	982	6	buying	buy	VERB
cblr-13858	982	7	securities	security	NOUN
cblr-13858	982	8	and	and	CCONJ
cblr-13858	982	9	the	the	DET
cblr-13858	982	10	entrepreneurs	entrepreneur	NOUN
cblr-13858	982	11	selling	sell	VERB
cblr-13858	982	12	them	they	PRON
cblr-13858	982	13	and	and	CCONJ
cblr-13858	982	14	facilitate	facilitate	VERB
cblr-13858	982	15	execution	execution	NOUN
cblr-13858	982	16	of	of	ADP
cblr-13858	982	17	the	the	DET
cblr-13858	982	18	sales	sale	NOUN
cblr-13858	982	19	much	much	ADV
cblr-13858	982	20	as	as	SCONJ
cblr-13858	982	21	a	a	DET
cblr-13858	982	22	securities	security	NOUN
cblr-13858	982	23	exchange	exchange	NOUN
cblr-13858	982	24	would	would	AUX
cblr-13858	982	25	.	.	PUNCT
cblr-13858	983	1	in	in	ADP
cblr-13858	983	2	spite	spite	NOUN
cblr-13858	983	3	of	of	ADP
cblr-13858	983	4	this	this	DET
cblr-13858	983	5	superficial	superficial	ADJ
cblr-13858	983	6	resemblance	resemblance	NOUN
cblr-13858	983	7	,	,	PUNCT
cblr-13858	983	8	it	it	PRON
cblr-13858	983	9	is	be	AUX
cblr-13858	983	10	reasonably	reasonably	ADV
cblr-13858	983	11	clear	clear	ADJ
cblr-13858	983	12	that	that	SCONJ
cblr-13858	983	13	crowdfunding	crowdfunding	NOUN
cblr-13858	983	14	sites	site	NOUN
cblr-13858	983	15	,	,	PUNCT
cblr-13858	983	16	unless	unless	SCONJ
cblr-13858	983	17	they	they	PRON
cblr-13858	983	18	engage	engage	VERB
cblr-13858	983	19	in	in	ADP
cblr-13858	983	20	additional	additional	ADJ
cblr-13858	983	21	activities	activity	NOUN
cblr-13858	983	22	,	,	PUNCT
cblr-13858	983	23	would	would	AUX
cblr-13858	983	24	not	not	PART
cblr-13858	983	25	be	be	AUX
cblr-13858	983	26	exchanges	exchange	NOUN
cblr-13858	983	27	under	under	ADP
cblr-13858	983	28	federal	federal	ADJ
cblr-13858	983	29	securities	security	NOUN
cblr-13858	983	30	law	law	NOUN
cblr-13858	983	31	.	.	PUNCT
cblr-13858	984	1	rule	rule	NOUN
cblr-13858	984	2	3b-16	3b-16	PROPN
cblr-13858	984	3	provides	provide	VERB
cblr-13858	984	4	that	that	SCONJ
cblr-13858	984	5	,	,	PUNCT
cblr-13858	984	6	to	to	PART
cblr-13858	984	7	fall	fall	VERB
cblr-13858	984	8	within	within	ADP
cblr-13858	984	9	the	the	DET
cblr-13858	984	10	definition	definition	NOUN
cblr-13858	984	11	of	of	ADP
cblr-13858	984	12	exchange	exchange	NOUN
cblr-13858	984	13	,	,	PUNCT
cblr-13858	984	14	a	a	DET
cblr-13858	984	15	trading	trading	NOUN
cblr-13858	984	16	system	system	NOUN
cblr-13858	984	17	must	must	AUX
cblr-13858	984	18	,	,	PUNCT
cblr-13858	984	19	among	among	ADP
cblr-13858	984	20	other	other	ADJ
cblr-13858	984	21	things	thing	NOUN
cblr-13858	984	22	,	,	PUNCT
cblr-13858	984	23	"	"	PUNCT
cblr-13858	984	24	[	[	X
cblr-13858	984	25	bring	bring	VERB
cblr-13858	984	26	]	]	PUNCT
cblr-13858	984	27	together	together	ADV
cblr-13858	984	28	the	the	DET
cblr-13858	984	29	orders	order	NOUN
cblr-13858	984	30	for	for	ADP
cblr-13858	984	31	securities	security	NOUN
cblr-13858	984	32	of	of	ADP
cblr-13858	984	33	multiple	multiple	ADJ
cblr-13858	984	34	buyers	buyer	NOUN
cblr-13858	984	35	and	and	CCONJ
cblr-13858	984	36	sellers	seller	NOUN
cblr-13858	984	37	.	.	PUNCT
cblr-13858	985	1	"249	"249	NOUN
cblr-13858	985	2	in	in	ADP
cblr-13858	985	3	other	other	ADJ
cblr-13858	985	4	words	word	NOUN
cblr-13858	985	5	,	,	PUNCT
cblr-13858	985	6	for	for	ADP
cblr-13858	985	7	a	a	DET
cblr-13858	985	8	system	system	NOUN
cblr-13858	985	9	's	's	PART
cblr-13858	985	10	trading	trading	NOUN
cblr-13858	985	11	of	of	ADP
cblr-13858	985	12	a	a	DET
cblr-13858	985	13	particular	particular	ADJ
cblr-13858	985	14	security	security	NOUN
cblr-13858	985	15	to	to	PART
cblr-13858	985	16	make	make	VERB
cblr-13858	985	17	it	it	PRON
cblr-13858	985	18	an	an	DET
cblr-13858	985	19	exchange	exchange	NOUN
cblr-13858	985	20	,	,	PUNCT
cblr-13858	985	21	there	there	PRON
cblr-13858	985	22	must	must	AUX
cblr-13858	985	23	be	be	AUX
cblr-13858	985	24	more	more	ADJ
cblr-13858	985	25	than	than	ADP
cblr-13858	985	26	one	one	NUM
cblr-13858	985	27	person	person	NOUN
cblr-13858	985	28	on	on	ADP
cblr-13858	985	29	each	each	DET
cblr-13858	985	30	side	side	NOUN
cblr-13858	985	31	of	of	ADP
cblr-13858	985	32	the	the	DET
cblr-13858	985	33	transactions	transaction	NOUN
cblr-13858	985	34	in	in	ADP
cblr-13858	985	35	that	that	DET
cblr-13858	985	36	security	security	NOUN
cblr-13858	985	37	.	.	PUNCT
cblr-13858	986	1	the	the	DET
cblr-13858	986	2	sec	sec	PROPN
cblr-13858	986	3	made	make	VERB
cblr-13858	986	4	it	it	PRON
cblr-13858	986	5	clear	clear	ADJ
cblr-13858	986	6	that	that	SCONJ
cblr-13858	986	7	"	"	PUNCT
cblr-13858	986	8	systems	system	NOUN
cblr-13858	986	9	in	in	ADP
cblr-13858	986	10	which	which	PRON
cblr-13858	986	11	there	there	PRON
cblr-13858	986	12	is	be	VERB
cblr-13858	986	13	only	only	ADV
cblr-13858	986	14	a	a	DET
cblr-13858	986	15	single	single	ADJ
cblr-13858	986	16	seller	seller	NOUN
cblr-13858	986	17	,	,	PUNCT
cblr-13858	986	18	such	such	ADJ
cblr-13858	986	19	as	as	ADP
cblr-13858	986	20	systems	system	NOUN
cblr-13858	986	21	that	that	PRON
cblr-13858	986	22	permit	permit	VERB
cblr-13858	986	23	issuers	issuer	NOUN
cblr-13858	986	24	to	to	PART
cblr-13858	986	25	sell	sell	VERB
cblr-13858	986	26	their	their	PRON
cblr-13858	986	27	own	own	ADJ
cblr-13858	986	28	securities	security	NOUN
cblr-13858	986	29	to	to	ADP
cblr-13858	986	30	investors	investor	NOUN
cblr-13858	986	31	,	,	PUNCT
cblr-13858	986	32	would	would	AUX
cblr-13858	986	33	not	not	PART
cblr-13858	986	34	be	be	AUX
cblr-13858	986	35	included	include	VERB
cblr-13858	986	36	within	within	ADP
cblr-13858	986	37	rule	rule	NOUN
cblr-13858	986	38	3b-16."2	3b-16."2	NUM
cblr-13858	986	39	50	50	NUM
cblr-13858	986	40	248	248	NUM
cblr-13858	986	41	securities	security	NOUN
cblr-13858	986	42	exchange	exchange	PROPN
cblr-13858	986	43	act	act	NOUN
cblr-13858	986	44	of	of	ADP
cblr-13858	986	45	1934	1934	NUM
cblr-13858	986	46	§	§	PROPN
cblr-13858	986	47	3(a)(1	3(a)(1	NUM
cblr-13858	986	48	)	)	PUNCT
cblr-13858	986	49	,	,	PUNCT
cblr-13858	986	50	15	15	NUM
cblr-13858	986	51	u.s.c	u.s.c	ADJ
cblr-13858	986	52	.	.	PUNCT
cblr-13858	987	1	§	§	PROPN
cblr-13858	987	2	78c(a)(1	78c(a)(1	NOUN
cblr-13858	987	3	)	)	PUNCT
cblr-13858	987	4	(	(	PUNCT
cblr-13858	987	5	2010	2010	NUM
cblr-13858	987	6	)	)	PUNCT
cblr-13858	987	7	.	.	PUNCT
cblr-13858	988	1	249	249	NUM
cblr-13858	988	2	exchange	exchange	PROPN
cblr-13858	988	3	act	act	NOUN
cblr-13858	988	4	rule	rule	PROPN
cblr-13858	988	5	3b-16	3b-16	PROPN
cblr-13858	988	6	,	,	PUNCT
cblr-13858	988	7	17	17	NUM
cblr-13858	988	8	c.f.r	c.f.r	NOUN
cblr-13858	988	9	.	.	PUNCT
cblr-13858	989	1	§	§	PROPN
cblr-13858	989	2	240.3b-16	240.3b-16	NUM
cblr-13858	989	3	(	(	PUNCT
cblr-13858	989	4	2012	2012	NUM
cblr-13858	989	5	)	)	PUNCT
cblr-13858	989	6	.	.	PUNCT
cblr-13858	990	1	250	250	NUM
cblr-13858	990	2	regulation	regulation	NOUN
cblr-13858	990	3	of	of	ADP
cblr-13858	990	4	exchanges	exchange	NOUN
cblr-13858	990	5	and	and	CCONJ
cblr-13858	990	6	alternative	alternative	ADJ
cblr-13858	990	7	trading	trading	NOUN
cblr-13858	990	8	systems	system	NOUN
cblr-13858	990	9	,	,	PUNCT
cblr-13858	990	10	63	63	NUM
cblr-13858	990	11	fed	feed	VERB
cblr-13858	990	12	.	.	PUNCT
cblr-13858	991	1	reg	reg	PROPN
cblr-13858	991	2	.	.	PUNCT
cblr-13858	992	1	70844	70844	NUM
cblr-13858	992	2	-	-	SYM
cblr-13858	992	3	01	01	NUM
cblr-13858	992	4	,	,	PUNCT
cblr-13858	992	5	70849	70849	NUM
cblr-13858	992	6	(	(	PUNCT
cblr-13858	992	7	dec	dec	PROPN
cblr-13858	992	8	.	.	PROPN
cblr-13858	992	9	22	22	NUM
cblr-13858	992	10	,	,	PUNCT
cblr-13858	992	11	1998	1998	NUM
cblr-13858	992	12	)	)	PUNCT
cblr-13858	992	13	(	(	PUNCT
cblr-13858	992	14	to	to	PART
cblr-13858	992	15	be	be	AUX
cblr-13858	992	16	codified	codify	VERB
cblr-13858	992	17	at	at	ADP
cblr-13858	992	18	17	17	NUM
cblr-13858	992	19	c.f.r	c.f.r	NOUN
cblr-13858	992	20	.	.	PUNCT
cblr-13858	993	1	pts	pts	PROPN
cblr-13858	993	2	.	.	PROPN
cblr-13858	994	1	202	202	NUM
cblr-13858	994	2	,	,	PUNCT
cblr-13858	994	3	50	50	NUM
cblr-13858	994	4	col	col	NOUN
cblr-13858	994	5	umbfia	umbfia	PROPN
cblr-13858	994	6	business	business	PROPN
cblr-13858	994	7	la	la	PROPN
cblr-13858	994	8	w	w	PROPN
cblr-13858	994	9	re	re	VERB
cblr-13858	994	10	view	view	NOUN
cblr-13858	994	11	[	[	X
cblr-13858	994	12	vol	vol	NOUN
cblr-13858	994	13	.	.	PUNCT
cblr-13858	994	14	2012	2012	NUM
cblr-13858	994	15	cro	cro	NOUN
cblr-13858	994	16	wdfunding	wdfunding	NOUN
cblr-13858	994	17	and	and	CCONJ
cblr-13858	994	18	securities	security	NOUN
cblr-13858	994	19	laws	law	NOUN
cblr-13858	994	20	crowdfunding	crowdfunde	VERB
cblr-13858	994	21	sites	site	NOUN
cblr-13858	994	22	fit	fit	VERB
cblr-13858	994	23	this	this	DET
cblr-13858	994	24	single	single	ADJ
cblr-13858	994	25	-	-	PUNCT
cblr-13858	994	26	seller	seller	NOUN
cblr-13858	994	27	model	model	NOUN
cblr-13858	994	28	,	,	PUNCT
cblr-13858	994	29	and	and	CCONJ
cblr-13858	994	30	therefore	therefore	ADV
cblr-13858	994	31	are	be	AUX
cblr-13858	994	32	not	not	PART
cblr-13858	994	33	exchanges	exchange	NOUN
cblr-13858	994	34	.	.	PUNCT
cblr-13858	995	1	although	although	SCONJ
cblr-13858	995	2	each	each	DET
cblr-13858	995	3	company	company	NOUN
cblr-13858	995	4	's	's	PART
cblr-13858	995	5	security	security	NOUN
cblr-13858	995	6	has	have	VERB
cblr-13858	995	7	a	a	DET
cblr-13858	995	8	large	large	ADJ
cblr-13858	995	9	number	number	NOUN
cblr-13858	995	10	of	of	ADP
cblr-13858	995	11	buyers	buyer	NOUN
cblr-13858	995	12	,	,	PUNCT
cblr-13858	995	13	meeting	meet	VERB
cblr-13858	995	14	the	the	DET
cblr-13858	995	15	multiplebuyer	multiplebuyer	PROPN
cblr-13858	995	16	requirement	requirement	NOUN
cblr-13858	995	17	,	,	PUNCT
cblr-13858	995	18	there	there	PRON
cblr-13858	995	19	is	be	VERB
cblr-13858	995	20	only	only	ADV
cblr-13858	995	21	one	one	NUM
cblr-13858	995	22	seller	seller	NOUN
cblr-13858	995	23	-	-	PUNCT
cblr-13858	995	24	the	the	DET
cblr-13858	995	25	issuer	issuer	NOUN
cblr-13858	995	26	itself	itself	PRON
cblr-13858	995	27	.	.	PUNCT
cblr-13858	996	1	crowdfunding	crowdfunde	VERB
cblr-13858	996	2	sites	site	NOUN
cblr-13858	996	3	list	list	VERB
cblr-13858	996	4	the	the	DET
cblr-13858	996	5	securities	security	NOUN
cblr-13858	996	6	of	of	ADP
cblr-13858	996	7	a	a	DET
cblr-13858	996	8	number	number	NOUN
cblr-13858	996	9	of	of	ADP
cblr-13858	996	10	different	different	ADJ
cblr-13858	996	11	sellers	seller	NOUN
cblr-13858	996	12	,	,	PUNCT
cblr-13858	996	13	but	but	CCONJ
cblr-13858	996	14	the	the	DET
cblr-13858	996	15	question	question	NOUN
cblr-13858	996	16	is	be	AUX
cblr-13858	996	17	not	not	PART
cblr-13858	996	18	whether	whether	SCONJ
cblr-13858	996	19	there	there	PRON
cblr-13858	996	20	are	be	VERB
cblr-13858	996	21	multiple	multiple	ADJ
cblr-13858	996	22	sellers	seller	NOUN
cblr-13858	996	23	on	on	ADP
cblr-13858	996	24	the	the	DET
cblr-13858	996	25	site	site	NOUN
cblr-13858	996	26	,	,	PUNCT
cblr-13858	996	27	but	but	CCONJ
cblr-13858	996	28	whether	whether	SCONJ
cblr-13858	996	29	there	there	PRON
cblr-13858	996	30	are	be	VERB
cblr-13858	996	31	multiple	multiple	ADJ
cblr-13858	996	32	sellers	seller	NOUN
cblr-13858	996	33	for	for	ADP
cblr-13858	996	34	a	a	DET
cblr-13858	996	35	particular	particular	ADJ
cblr-13858	996	36	security	security	NOUN
cblr-13858	996	37	.	.	PUNCT
cblr-13858	997	1	according	accord	VERB
cblr-13858	997	2	to	to	ADP
cblr-13858	997	3	the	the	DET
cblr-13858	997	4	sec	sec	PROPN
cblr-13858	997	5	,	,	PUNCT
cblr-13858	997	6	"	"	PUNCT
cblr-13858	997	7	a	a	DET
cblr-13858	997	8	system	system	NOUN
cblr-13858	997	9	that	that	PRON
cblr-13858	997	10	has	have	VERB
cblr-13858	997	11	multiple	multiple	ADJ
cblr-13858	997	12	sellers	seller	NOUN
cblr-13858	997	13	,	,	PUNCT
cblr-13858	997	14	but	but	CCONJ
cblr-13858	997	15	only	only	ADV
cblr-13858	997	16	one	one	NUM
cblr-13858	997	17	seller	seller	NOUN
cblr-13858	997	18	for	for	ADP
cblr-13858	997	19	each	each	DET
cblr-13858	997	20	instrument	instrument	NOUN
cblr-13858	997	21	,	,	PUNCT
cblr-13858	997	22	.	.	PUNCT
cblr-13858	997	23	.	.	PUNCT
cblr-13858	997	24	.	.	PUNCT
cblr-13858	998	1	would	would	AUX
cblr-13858	998	2	not	not	PART
cblr-13858	998	3	.	.	PUNCT
cblr-13858	998	4	.	.	PUNCT
cblr-13858	998	5	.	.	PUNCT
cblr-13858	999	1	meet	meet	VERB
cblr-13858	999	2	the	the	DET
cblr-13858	999	3	'	'	PUNCT
cblr-13858	999	4	multiple	multiple	ADJ
cblr-13858	999	5	parties	party	NOUN
cblr-13858	999	6	'	'	PART
cblr-13858	999	7	requirement	requirement	NOUN
cblr-13858	999	8	.	.	PUNCT
cblr-13858	1000	1	"25	"25	X
cblr-13858	1000	2	'	'	PUNCT
cblr-13858	1000	3	unless	unless	SCONJ
cblr-13858	1000	4	crowdfunding	crowdfunding	NOUN
cblr-13858	1000	5	sites	site	NOUN
cblr-13858	1000	6	get	get	AUX
cblr-13858	1000	7	involved	involve	VERB
cblr-13858	1000	8	in	in	ADP
cblr-13858	1000	9	post	post	ADJ
cblr-13858	1000	10	-	-	ADJ
cblr-13858	1000	11	funding	funding	ADJ
cblr-13858	1000	12	trading	trading	NOUN
cblr-13858	1000	13	of	of	ADP
cblr-13858	1000	14	listed	list	VERB
cblr-13858	1000	15	company	company	NOUN
cblr-13858	1000	16	's	's	PART
cblr-13858	1000	17	securities,25	securities,25	NOUN
cblr-13858	1000	18	2	2	NUM
cblr-13858	1000	19	none	none	NOUN
cblr-13858	1000	20	of	of	ADP
cblr-13858	1000	21	the	the	DET
cblr-13858	1000	22	securities	security	NOUN
cblr-13858	1000	23	offered	offer	VERB
cblr-13858	1000	24	would	would	AUX
cblr-13858	1000	25	have	have	VERB
cblr-13858	1000	26	multiple	multiple	ADJ
cblr-13858	1000	27	sellers	seller	NOUN
cblr-13858	1000	28	.	.	PUNCT
cblr-13858	1001	1	therefore	therefore	ADV
cblr-13858	1001	2	,	,	PUNCT
cblr-13858	1001	3	crowdfunding	crowdfunde	VERB
cblr-13858	1001	4	sites	site	NOUN
cblr-13858	1001	5	would	would	AUX
cblr-13858	1001	6	not	not	PART
cblr-13858	1001	7	be	be	AUX
cblr-13858	1001	8	exchanges	exchange	NOUN
cblr-13858	1001	9	.	.	PUNCT
cblr-13858	1002	1	b.	b.	PROPN
cblr-13858	1002	2	are	be	AUX
cblr-13858	1002	3	crowdfunding	crowdfunde	VERB
cblr-13858	1002	4	sites	site	NOUN
cblr-13858	1002	5	brokers	broker	NOUN
cblr-13858	1002	6	?	?	PUNCT
cblr-13858	1003	1	section	section	NOUN
cblr-13858	1003	2	3(a)(4	3(a)(4	NUM
cblr-13858	1003	3	)	)	PUNCT
cblr-13858	1003	4	of	of	ADP
cblr-13858	1003	5	the	the	DET
cblr-13858	1003	6	exchange	exchange	NOUN
cblr-13858	1003	7	act	act	PROPN
cblr-13858	1003	8	defines	define	VERB
cblr-13858	1003	9	a	a	DET
cblr-13858	1003	10	"	"	PUNCT
cblr-13858	1003	11	broker	broker	NOUN
cblr-13858	1003	12	"	"	PUNCT
cblr-13858	1003	13	as	as	ADP
cblr-13858	1003	14	"	"	PUNCT
cblr-13858	1003	15	any	any	DET
cblr-13858	1003	16	person	person	NOUN
cblr-13858	1003	17	engaged	engage	VERB
cblr-13858	1003	18	in	in	ADP
cblr-13858	1003	19	the	the	DET
cblr-13858	1003	20	business	business	NOUN
cblr-13858	1003	21	of	of	ADP
cblr-13858	1003	22	effecting	effect	VERB
cblr-13858	1003	23	transactions	transaction	NOUN
cblr-13858	1003	24	in	in	ADP
cblr-13858	1003	25	securities	security	NOUN
cblr-13858	1003	26	for	for	ADP
cblr-13858	1003	27	the	the	DET
cblr-13858	1003	28	account	account	NOUN
cblr-13858	1003	29	of	of	ADP
cblr-13858	1003	30	others	other	NOUN
cblr-13858	1003	31	.	.	PUNCT
cblr-13858	1004	1	"25	"25	PROPN
cblr-13858	1004	2	3	3	NUM
cblr-13858	1004	3	the	the	DET
cblr-13858	1004	4	exchange	exchange	NOUN
cblr-13858	1004	5	act	act	NOUN
cblr-13858	1004	6	provides	provide	VERB
cblr-13858	1004	7	no	no	DET
cblr-13858	1004	8	further	further	ADJ
cblr-13858	1004	9	guidance	guidance	NOUN
cblr-13858	1004	10	as	as	ADP
cblr-13858	1004	11	to	to	ADP
cblr-13858	1004	12	what	what	PRON
cblr-13858	1004	13	it	it	PRON
cblr-13858	1004	14	means	mean	VERB
cblr-13858	1004	15	to	to	PART
cblr-13858	1004	16	be	be	AUX
cblr-13858	1004	17	"	"	PUNCT
cblr-13858	1004	18	engaged	engage	VERB
cblr-13858	1004	19	in	in	ADP
cblr-13858	1004	20	a	a	DET
cblr-13858	1004	21	business	business	NOUN
cblr-13858	1004	22	"	"	PUNCT
cblr-13858	1004	23	or	or	CCONJ
cblr-13858	1004	24	"	"	PUNCT
cblr-13858	1004	25	effecting	effect	VERB
cblr-13858	1004	26	transactions	transaction	NOUN
cblr-13858	1004	27	in	in	ADP
cblr-13858	1004	28	securities	security	NOUN
cblr-13858	1004	29	,	,	PUNCT
cblr-13858	1004	30	"	"	PUNCT
cblr-13858	1004	31	and	and	CCONJ
cblr-13858	1004	32	the	the	DET
cblr-13858	1004	33	law	law	NOUN
cblr-13858	1004	34	in	in	ADP
cblr-13858	1004	35	this	this	DET
cblr-13858	1004	36	area	area	NOUN
cblr-13858	1004	37	is	be	AUX
cblr-13858	1004	38	uncertain.2	uncertain.2	PROPN
cblr-13858	1004	39	54	54	NUM
cblr-13858	1004	40	whether	whether	SCONJ
cblr-13858	1004	41	242	242	NUM
cblr-13858	1004	42	)	)	PUNCT
cblr-13858	1004	43	,	,	PUNCT
cblr-13858	1004	44	available	available	ADJ
cblr-13858	1004	45	at	at	ADP
cblr-13858	1004	46	http://www.gpo.gov/fdsys/pkg/fr-1998-12-22/pdfl98-3329	http://www.gpo.gov/fdsys/pkg/fr-1998-12-22/pdfl98-3329	PROPN
cblr-13858	1004	47	9.pdf	9.pdf	NOUN
cblr-13858	1004	48	.	.	PUNCT
cblr-13858	1005	1	251	251	NUM
cblr-13858	1005	2	regulation	regulation	NOUN
cblr-13858	1005	3	of	of	ADP
cblr-13858	1005	4	exchanges	exchange	NOUN
cblr-13858	1005	5	and	and	CCONJ
cblr-13858	1005	6	alternative	alternative	ADJ
cblr-13858	1005	7	trading	trading	NOUN
cblr-13858	1005	8	systems	system	NOUN
cblr-13858	1005	9	,	,	PUNCT
cblr-13858	1005	10	63	63	NUM
cblr-13858	1005	11	fed	feed	VERB
cblr-13858	1005	12	.	.	PUNCT
cblr-13858	1006	1	reg	reg	PROPN
cblr-13858	1006	2	.	.	PUNCT
cblr-13858	1007	1	23504	23504	NUM
cblr-13858	1007	2	-	-	SYM
cblr-13858	1007	3	01	01	NUM
cblr-13858	1007	4	,	,	PUNCT
cblr-13858	1007	5	23508	23508	NUM
cblr-13858	1007	6	(	(	PUNCT
cblr-13858	1007	7	apr	apr	PROPN
cblr-13858	1007	8	.	.	PROPN
cblr-13858	1007	9	29	29	NUM
cblr-13858	1007	10	,	,	PUNCT
cblr-13858	1007	11	1998	1998	NUM
cblr-13858	1007	12	)	)	PUNCT
cblr-13858	1007	13	(	(	PUNCT
cblr-13858	1007	14	to	to	PART
cblr-13858	1007	15	be	be	AUX
cblr-13858	1007	16	codified	codify	VERB
cblr-13858	1007	17	at	at	ADP
cblr-13858	1007	18	17	17	NUM
cblr-13858	1007	19	c.f.r	c.f.r	NOUN
cblr-13858	1007	20	.	.	PUNCT
cblr-13858	1008	1	pt	pt	PROPN
cblr-13858	1008	2	.	.	PROPN
cblr-13858	1008	3	242	242	NUM
cblr-13858	1008	4	)	)	PUNCT
cblr-13858	1008	5	,	,	PUNCT
cblr-13858	1008	6	available	available	ADJ
cblr-13858	1008	7	at	at	ADP
cblr-13858	1008	8	http://www.gpo.gov/fdsys/pkg/fr-1998-04-29/pdf/98-10945.pdf	http://www.gpo.gov/fdsys/pkg/fr-1998-04-29/pdf/98-10945.pdf	PUNCT
cblr-13858	1008	9	(	(	PUNCT
cblr-13858	1008	10	interpreting	interpret	VERB
cblr-13858	1008	11	the	the	DET
cblr-13858	1008	12	proposed	propose	VERB
cblr-13858	1008	13	rule	rule	NOUN
cblr-13858	1008	14	that	that	PRON
cblr-13858	1008	15	became	become	VERB
cblr-13858	1008	16	rule	rule	NOUN
cblr-13858	1008	17	3b-16	3b-16	PROPN
cblr-13858	1008	18	)	)	PUNCT
cblr-13858	1008	19	.	.	PUNCT
cblr-13858	1009	1	252	252	NUM
cblr-13858	1009	2	see	see	NOUN
cblr-13858	1009	3	infra	infra	NOUN
cblr-13858	1009	4	part	part	NOUN
cblr-13858	1009	5	vii.c.3	vii.c.3	NOUN
cblr-13858	1009	6	for	for	ADP
cblr-13858	1009	7	a	a	DET
cblr-13858	1009	8	discussion	discussion	NOUN
cblr-13858	1009	9	of	of	ADP
cblr-13858	1009	10	issues	issue	NOUN
cblr-13858	1009	11	involving	involve	VERB
cblr-13858	1009	12	the	the	DET
cblr-13858	1009	13	resale	resale	NOUN
cblr-13858	1009	14	of	of	ADP
cblr-13858	1009	15	crowdfunded	crowdfunde	VERB
cblr-13858	1009	16	securities	security	NOUN
cblr-13858	1009	17	.	.	PUNCT
cblr-13858	1010	1	253	253	NUM
cblr-13858	1010	2	exchange	exchange	NOUN
cblr-13858	1010	3	act	act	NOUN
cblr-13858	1010	4	§	§	PROPN
cblr-13858	1010	5	3(a)(4	3(a)(4	PROPN
cblr-13858	1010	6	)	)	PUNCT
cblr-13858	1010	7	,	,	PUNCT
cblr-13858	1010	8	15	15	NUM
cblr-13858	1010	9	u.s.c	u.s.c	ADJ
cblr-13858	1010	10	.	.	PUNCT
cblr-13858	1011	1	§	§	PROPN
cblr-13858	1011	2	78c(a)(4	78c(a)(4	PROPN
cblr-13858	1011	3	)	)	PUNCT
cblr-13858	1011	4	.	.	PUNCT
cblr-13858	1012	1	the	the	DET
cblr-13858	1012	2	exchange	exchange	PROPN
cblr-13858	1012	3	act	act	PROPN
cblr-13858	1012	4	distinguishes	distinguish	VERB
cblr-13858	1012	5	a	a	DET
cblr-13858	1012	6	"	"	PUNCT
cblr-13858	1012	7	dealer	dealer	NOUN
cblr-13858	1012	8	,	,	PUNCT
cblr-13858	1012	9	"	"	PUNCT
cblr-13858	1012	10	who	who	PRON
cblr-13858	1012	11	is	be	AUX
cblr-13858	1012	12	"	"	PUNCT
cblr-13858	1012	13	engaged	engage	VERB
cblr-13858	1012	14	in	in	ADP
cblr-13858	1012	15	the	the	DET
cblr-13858	1012	16	business	business	NOUN
cblr-13858	1012	17	of	of	ADP
cblr-13858	1012	18	buying	buy	VERB
cblr-13858	1012	19	and	and	CCONJ
cblr-13858	1012	20	selling	sell	VERB
cblr-13858	1012	21	securities	security	NOUN
cblr-13858	1012	22	for	for	ADP
cblr-13858	1012	23	such	such	ADJ
cblr-13858	1012	24	person	person	NOUN
cblr-13858	1012	25	's	's	PART
cblr-13858	1012	26	own	own	ADJ
cblr-13858	1012	27	account	account	NOUN
cblr-13858	1012	28	.	.	PUNCT
cblr-13858	1012	29	"	"	PUNCT
cblr-13858	1013	1	i	i	PRON
cblr-13858	1013	2	d.	d.	PROPN
cblr-13858	1013	3	§	§	PROPN
cblr-13858	1013	4	78c(a)(15	78c(a)(15	NUM
cblr-13858	1013	5	)	)	PUNCT
cblr-13858	1013	6	(	(	PUNCT
cblr-13858	1013	7	emphasis	emphasis	NOUN
cblr-13858	1013	8	added	add	VERB
cblr-13858	1013	9	)	)	PUNCT
cblr-13858	1013	10	.	.	PUNCT
cblr-13858	1014	1	in	in	ADP
cblr-13858	1014	2	other	other	ADJ
cblr-13858	1014	3	words	word	NOUN
cblr-13858	1014	4	,	,	PUNCT
cblr-13858	1014	5	a	a	DET
cblr-13858	1014	6	dealer	dealer	NOUN
cblr-13858	1014	7	acts	act	VERB
cblr-13858	1014	8	as	as	ADP
cblr-13858	1014	9	a	a	DET
cblr-13858	1014	10	principal	principal	NOUN
cblr-13858	1014	11	,	,	PUNCT
cblr-13858	1014	12	trading	trade	VERB
cblr-13858	1014	13	for	for	ADP
cblr-13858	1014	14	herself	herself	PRON
cblr-13858	1014	15	,	,	PUNCT
cblr-13858	1014	16	whereas	whereas	SCONJ
cblr-13858	1014	17	a	a	DET
cblr-13858	1014	18	broker	broker	NOUN
cblr-13858	1014	19	acts	act	VERB
cblr-13858	1014	20	as	as	ADP
cblr-13858	1014	21	an	an	DET
cblr-13858	1014	22	agent	agent	NOUN
cblr-13858	1014	23	for	for	ADP
cblr-13858	1014	24	someone	someone	PRON
cblr-13858	1014	25	else	else	ADV
cblr-13858	1014	26	.	.	PUNCT
cblr-13858	1015	1	however	however	ADV
cblr-13858	1015	2	,	,	PUNCT
cblr-13858	1015	3	the	the	DET
cblr-13858	1015	4	distinction	distinction	NOUN
cblr-13858	1015	5	"	"	PUNCT
cblr-13858	1015	6	often	often	ADV
cblr-13858	1015	7	becomes	become	VERB
cblr-13858	1015	8	blurred	blurred	ADJ
cblr-13858	1015	9	,	,	PUNCT
cblr-13858	1015	10	"	"	PUNCT
cblr-13858	1015	11	with	with	ADP
cblr-13858	1015	12	cases	case	NOUN
cblr-13858	1015	13	and	and	CCONJ
cblr-13858	1015	14	administrative	administrative	ADJ
cblr-13858	1015	15	analyses	analysis	NOUN
cblr-13858	1015	16	indiscriminately	indiscriminately	ADV
cblr-13858	1015	17	using	use	VERB
cblr-13858	1015	18	the	the	DET
cblr-13858	1015	19	two	two	NUM
cblr-13858	1015	20	terms	term	NOUN
cblr-13858	1015	21	together	together	ADV
cblr-13858	1015	22	.	.	PUNCT
cblr-13858	1016	1	see	see	VERB
cblr-13858	1016	2	david	david	PROPN
cblr-13858	1016	3	a.	a.	PROPN
cblr-13858	1016	4	lipton	lipton	PROPN
cblr-13858	1016	5	,	,	PUNCT
cblr-13858	1016	6	15	15	NUM
cblr-13858	1016	7	broker	broker	NOUN
cblr-13858	1016	8	-	-	PUNCT
cblr-13858	1016	9	dealer	dealer	NOUN
cblr-13858	1016	10	regulation	regulation	NOUN
cblr-13858	1016	11	1	1	NUM
cblr-13858	1016	12	-	-	SYM
cblr-13858	1016	13	42	42	NUM
cblr-13858	1016	14	(	(	PUNCT
cblr-13858	1016	15	2010	2010	NUM
cblr-13858	1016	16	)	)	PUNCT
cblr-13858	1016	17	.	.	PUNCT
cblr-13858	1017	1	254	254	NUM
cblr-13858	1017	2	see	see	VERB
cblr-13858	1017	3	hazen	hazen	PROPN
cblr-13858	1017	4	,	,	PUNCT
cblr-13858	1017	5	supra	supra	PROPN
cblr-13858	1017	6	note	note	PROPN
cblr-13858	1017	7	42	42	NUM
cblr-13858	1017	8	,	,	PUNCT
cblr-13858	1017	9	at	at	ADP
cblr-13858	1017	10	228	228	NUM
cblr-13858	1017	11	(	(	PUNCT
cblr-13858	1017	12	"	"	PUNCT
cblr-13858	1017	13	[	[	X
cblr-13858	1017	14	ilt	ilt	NOUN
cblr-13858	1017	15	is	be	AUX
cblr-13858	1017	16	not	not	PART
cblr-13858	1017	17	always	always	ADV
cblr-13858	1017	18	easy	easy	ADJ
cblr-13858	1017	19	to	to	PART
cblr-13858	1017	20	tell	tell	VERB
cblr-13858	1017	21	when	when	SCONJ
cblr-13858	1017	22	a	a	DET
cblr-13858	1017	23	finder	finder	NOUN
cblr-13858	1017	24	's	's	PART
cblr-13858	1017	25	activities	activity	NOUN
cblr-13858	1017	26	would	would	AUX
cblr-13858	1017	27	require	require	VERB
cblr-13858	1017	28	broker	broker	NOUN
cblr-13858	1017	29	-	-	PUNCT
cblr-13858	1017	30	dealer	dealer	NOUN
cblr-13858	1017	31	registration	registration	NOUN
cblr-13858	1017	32	.	.	PUNCT
cblr-13858	1017	33	"	"	PUNCT
cblr-13858	1017	34	)	)	PUNCT
cblr-13858	1017	35	;	;	PUNCT
cblr-13858	1017	36	no	no	INTJ
cblr-13858	1017	37	.	.	NOUN
cblr-13858	1018	1	1	1	NUM
cblr-13858	1018	2	:	:	SYM
cblr-13858	1018	3	1	1	NUM
cblr-13858	1018	4	]	]	SYM
cblr-13858	1018	5	51	51	NUM
cblr-13858	1018	6	columbia	columbia	PROPN
cblr-13858	1018	7	business	business	NOUN
cblr-13858	1018	8	la	la	PROPN
cblr-13858	1018	9	wreview	wreview	VERB
cblr-13858	1018	10	an	an	DET
cblr-13858	1018	11	individual	individual	NOUN
cblr-13858	1018	12	or	or	CCONJ
cblr-13858	1018	13	entity	entity	NOUN
cblr-13858	1018	14	is	be	AUX
cblr-13858	1018	15	a	a	DET
cblr-13858	1018	16	broker	broker	NOUN
cblr-13858	1018	17	is	be	AUX
cblr-13858	1018	18	"	"	PUNCT
cblr-13858	1018	19	one	one	NUM
cblr-13858	1018	20	of	of	ADP
cblr-13858	1018	21	the	the	DET
cblr-13858	1018	22	more	more	ADV
cblr-13858	1018	23	nebulous	nebulous	ADJ
cblr-13858	1018	24	questions	question	NOUN
cblr-13858	1018	25	in	in	ADP
cblr-13858	1018	26	u.s	u.s	PROPN
cblr-13858	1018	27	.	.	PROPN
cblr-13858	1018	28	securities	security	NOUN
cblr-13858	1018	29	regulation	regulation	NOUN
cblr-13858	1018	30	.	.	PUNCT
cblr-13858	1018	31	"255	"255	PUNCT
cblr-13858	1019	1	the	the	DET
cblr-13858	1019	2	case	case	NOUN
cblr-13858	1019	3	law	law	NOUN
cblr-13858	1019	4	is	be	AUX
cblr-13858	1019	5	limited	limited	ADJ
cblr-13858	1019	6	,	,	PUNCT
cblr-13858	1019	7	so	so	ADV
cblr-13858	1019	8	most	most	ADJ
cblr-13858	1019	9	of	of	ADP
cblr-13858	1019	10	the	the	DET
cblr-13858	1019	11	guidance	guidance	NOUN
cblr-13858	1019	12	in	in	ADP
cblr-13858	1019	13	this	this	DET
cblr-13858	1019	14	area	area	NOUN
cblr-13858	1019	15	comes	come	VERB
cblr-13858	1019	16	from	from	ADP
cblr-13858	1019	17	sec	sec	PROPN
cblr-13858	1019	18	no	no	DET
cblr-13858	1019	19	-	-	PUNCT
cblr-13858	1019	20	action	action	NOUN
cblr-13858	1019	21	letters	letter	NOUN
cblr-13858	1019	22	.	.	PUNCT
cblr-13858	1020	1	"	"	PUNCT
cblr-13858	1020	2	'	'	PUNCT
cblr-13858	1020	3	the	the	DET
cblr-13858	1020	4	sec	sec	PROPN
cblr-13858	1020	5	staff	staff	NOUN
cblr-13858	1020	6	"	"	PUNCT
cblr-13858	1020	7	does	do	AUX
cblr-13858	1020	8	not	not	PART
cblr-13858	1020	9	typically	typically	ADV
cblr-13858	1020	10	provide	provide	VERB
cblr-13858	1020	11	a	a	DET
cblr-13858	1020	12	rationale	rationale	NOUN
cblr-13858	1020	13	for	for	ADP
cblr-13858	1020	14	its	its	PRON
cblr-13858	1020	15	position	position	NOUN
cblr-13858	1020	16	"	"	PUNCT
cblr-13858	1020	17	in	in	ADP
cblr-13858	1020	18	those	those	DET
cblr-13858	1020	19	letters	letter	NOUN
cblr-13858	1020	20	,	,	PUNCT
cblr-13858	1020	21	forcing	force	VERB
cblr-13858	1020	22	the	the	DET
cblr-13858	1020	23	reader	reader	NOUN
cblr-13858	1020	24	"	"	PUNCT
cblr-13858	1020	25	to	to	PART
cblr-13858	1020	26	speculate	speculate	VERB
cblr-13858	1020	27	which	which	PRON
cblr-13858	1020	28	of	of	ADP
cblr-13858	1020	29	numerous	numerous	ADJ
cblr-13858	1020	30	facts	fact	NOUN
cblr-13858	1020	31	recited	recite	VERB
cblr-13858	1020	32	in	in	ADP
cblr-13858	1020	33	the	the	DET
cblr-13858	1020	34	response	response	NOUN
cblr-13858	1020	35	and/or	and/or	CCONJ
cblr-13858	1020	36	letter	letter	NOUN
cblr-13858	1020	37	of	of	ADP
cblr-13858	1020	38	inquiry	inquiry	NOUN
cblr-13858	1020	39	triggered	trigger	VERB
cblr-13858	1020	40	the	the	DET
cblr-13858	1020	41	staff	staff	NOUN
cblr-13858	1020	42	reaction	reaction	NOUN
cblr-13858	1020	43	.	.	PUNCT
cblr-13858	1021	1	"257	"257	NOUN
cblr-13858	1022	1	the	the	DET
cblr-13858	1022	2	analysis	analysis	NOUN
cblr-13858	1022	3	is	be	AUX
cblr-13858	1022	4	"	"	PUNCT
cblr-13858	1022	5	extremely	extremely	ADV
cblr-13858	1022	6	flexible"258	flexible"258	ADJ
cblr-13858	1022	7	and	and	CCONJ
cblr-13858	1022	8	therefore	therefore	ADV
cblr-13858	1022	9	inherently	inherently	ADV
cblr-13858	1022	10	unpredictable	unpredictable	ADJ
cblr-13858	1022	11	.	.	PUNCT
cblr-13858	1023	1	it	it	PRON
cblr-13858	1023	2	is	be	AUX
cblr-13858	1023	3	impossible	impossible	ADJ
cblr-13858	1023	4	to	to	PART
cblr-13858	1023	5	state	state	VERB
cblr-13858	1023	6	definitively	definitively	ADV
cblr-13858	1023	7	whether	whether	SCONJ
cblr-13858	1023	8	crowdfunding	crowdfunde	VERB
cblr-13858	1023	9	sites	site	NOUN
cblr-13858	1023	10	would	would	AUX
cblr-13858	1023	11	be	be	AUX
cblr-13858	1023	12	brokers	broker	NOUN
cblr-13858	1023	13	if	if	SCONJ
cblr-13858	1023	14	they	they	PRON
cblr-13858	1023	15	hosted	host	VERB
cblr-13858	1023	16	securities	security	NOUN
cblr-13858	1023	17	offerings	offering	NOUN
cblr-13858	1023	18	.	.	PUNCT
cblr-13858	1024	1	none	none	NOUN
cblr-13858	1024	2	of	of	ADP
cblr-13858	1024	3	the	the	DET
cblr-13858	1024	4	major	major	ADJ
cblr-13858	1024	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1024	6	sites	site	NOUN
cblr-13858	1024	7	has	have	AUX
cblr-13858	1024	8	received	receive	VERB
cblr-13858	1024	9	norman	norman	PROPN
cblr-13858	1024	10	s.	s.	PROPN
cblr-13858	1024	11	poser	poser	PROPN
cblr-13858	1024	12	&	&	CCONJ
cblr-13858	1024	13	james	james	PROPN
cblr-13858	1024	14	a.	a.	PROPN
cblr-13858	1024	15	fanto	fanto	PROPN
cblr-13858	1024	16	,	,	PUNCT
cblr-13858	1024	17	broker	broker	NOUN
cblr-13858	1024	18	-	-	PUNCT
cblr-13858	1024	19	dealer	dealer	NOUN
cblr-13858	1024	20	law	law	NOUN
cblr-13858	1024	21	and	and	CCONJ
cblr-13858	1024	22	regulation	regulation	NOUN
cblr-13858	1024	23	5	5	NUM
cblr-13858	1024	24	-	-	SYM
cblr-13858	1024	25	15	15	NUM
cblr-13858	1024	26	(	(	PUNCT
cblr-13858	1024	27	4th	4th	ADJ
cblr-13858	1024	28	ed	ed	NOUN
cblr-13858	1024	29	.	.	PROPN
cblr-13858	1024	30	2009	2009	NUM
cblr-13858	1024	31	)	)	PUNCT
cblr-13858	1024	32	(	(	PUNCT
cblr-13858	1024	33	indicating	indicate	VERB
cblr-13858	1024	34	"	"	PUNCT
cblr-13858	1024	35	some	some	DET
cblr-13858	1024	36	uncertainty	uncertainty	NOUN
cblr-13858	1024	37	"	"	PUNCT
cblr-13858	1024	38	as	as	ADP
cblr-13858	1024	39	to	to	ADP
cblr-13858	1024	40	whether	whether	SCONJ
cblr-13858	1024	41	finders	finder	NOUN
cblr-13858	1024	42	who	who	PRON
cblr-13858	1024	43	bring	bring	VERB
cblr-13858	1024	44	together	together	ADV
cblr-13858	1024	45	two	two	NUM
cblr-13858	1024	46	parties	party	NOUN
cblr-13858	1024	47	who	who	PRON
cblr-13858	1024	48	wish	wish	VERB
cblr-13858	1024	49	to	to	PART
cblr-13858	1024	50	engage	engage	VERB
cblr-13858	1024	51	in	in	ADP
cblr-13858	1024	52	a	a	DET
cblr-13858	1024	53	securities	security	NOUN
cblr-13858	1024	54	transaction	transaction	NOUN
cblr-13858	1024	55	are	be	AUX
cblr-13858	1024	56	brokers	broker	NOUN
cblr-13858	1024	57	)	)	PUNCT
cblr-13858	1024	58	;	;	PUNCT
cblr-13858	1024	59	abraham	abraham	PROPN
cblr-13858	1024	60	j.	j.	PROPN
cblr-13858	1024	61	b.	b.	PROPN
cblr-13858	1024	62	cable	cable	PROPN
cblr-13858	1024	63	,	,	PUNCT
cblr-13858	1024	64	fending	fend	VERB
cblr-13858	1024	65	for	for	ADP
cblr-13858	1024	66	themselves	themselves	PRON
cblr-13858	1024	67	:	:	PUNCT
cblr-13858	1024	68	why	why	SCONJ
cblr-13858	1024	69	securities	security	NOUN
cblr-13858	1024	70	regulations	regulation	NOUN
cblr-13858	1024	71	should	should	AUX
cblr-13858	1024	72	encourage	encourage	VERB
cblr-13858	1024	73	angel	angel	NOUN
cblr-13858	1024	74	groups	group	NOUN
cblr-13858	1024	75	,	,	PUNCT
cblr-13858	1025	1	13	13	NUM
cblr-13858	1025	2	u.	u.	PROPN
cblr-13858	1025	3	pa	pa	PROPN
cblr-13858	1025	4	.	.	PUNCT
cblr-13858	1025	5	j.	j.	PROPN
cblr-13858	1025	6	bus	bus	PROPN
cblr-13858	1025	7	.	.	PUNCT
cblr-13858	1026	1	l.	l.	PROPN
cblr-13858	1026	2	107	107	PROPN
cblr-13858	1026	3	,	,	PUNCT
cblr-13858	1026	4	136	136	NUM
cblr-13858	1026	5	(	(	PUNCT
cblr-13858	1026	6	2010	2010	NUM
cblr-13858	1026	7	)	)	PUNCT
cblr-13858	1026	8	(	(	PUNCT
cblr-13858	1026	9	"	"	PUNCT
cblr-13858	1026	10	[	[	X
cblr-13858	1026	11	ilt	ilt	NOUN
cblr-13858	1026	12	is	be	AUX
cblr-13858	1026	13	difficult	difficult	ADJ
cblr-13858	1026	14	to	to	PART
cblr-13858	1026	15	derive	derive	VERB
cblr-13858	1026	16	...	...	PUNCT
cblr-13858	1026	17	a	a	DET
cblr-13858	1026	18	single	single	ADJ
cblr-13858	1026	19	,	,	PUNCT
cblr-13858	1026	20	comprehensible	comprehensible	ADJ
cblr-13858	1026	21	framework	framework	NOUN
cblr-13858	1026	22	for	for	ADP
cblr-13858	1026	23	evaluating	evaluate	VERB
cblr-13858	1026	24	broker	broker	NOUN
cblr-13858	1026	25	-	-	PUNCT
cblr-13858	1026	26	dealer	dealer	NOUN
cblr-13858	1026	27	status	status	NOUN
cblr-13858	1026	28	,	,	PUNCT
cblr-13858	1026	29	and	and	CCONJ
cblr-13858	1026	30	this	this	PRON
cblr-13858	1026	31	can	can	AUX
cblr-13858	1026	32	be	be	AUX
cblr-13858	1026	33	a	a	DET
cblr-13858	1026	34	source	source	NOUN
cblr-13858	1026	35	of	of	ADP
cblr-13858	1026	36	frustration	frustration	NOUN
cblr-13858	1026	37	when	when	SCONJ
cblr-13858	1026	38	trying	try	VERB
cblr-13858	1026	39	to	to	PART
cblr-13858	1026	40	analyze	analyze	VERB
cblr-13858	1026	41	the	the	DET
cblr-13858	1026	42	regulatory	regulatory	ADJ
cblr-13858	1026	43	status	status	NOUN
cblr-13858	1026	44	of	of	ADP
cblr-13858	1026	45	new	new	ADJ
cblr-13858	1026	46	developments	development	NOUN
cblr-13858	1026	47	..	..	PUNCT
cblr-13858	1026	48	.	.	PUNCT
cblr-13858	1027	1	"	"	PUNCT
cblr-13858	1027	2	)	)	PUNCT
cblr-13858	1027	3	.	.	PUNCT
cblr-13858	1028	1	255	255	NUM
cblr-13858	1028	2	john	john	PROPN
cblr-13858	1028	3	l.	l.	PROPN
cblr-13858	1028	4	orcutt	orcutt	PROPN
cblr-13858	1028	5	,	,	PUNCT
cblr-13858	1028	6	improving	improve	VERB
cblr-13858	1028	7	the	the	DET
cblr-13858	1028	8	efficiency	efficiency	NOUN
cblr-13858	1028	9	of	of	ADP
cblr-13858	1028	10	the	the	DET
cblr-13858	1028	11	angel	angel	NOUN
cblr-13858	1028	12	finance	finance	NOUN
cblr-13858	1028	13	market	market	NOUN
cblr-13858	1028	14	:	:	PUNCT
cblr-13858	1028	15	a	a	DET
cblr-13858	1028	16	proposal	proposal	NOUN
cblr-13858	1028	17	to	to	PART
cblr-13858	1028	18	expand	expand	VERB
cblr-13858	1028	19	the	the	DET
cblr-13858	1028	20	intermediary	intermediary	ADJ
cblr-13858	1028	21	role	role	NOUN
cblr-13858	1028	22	of	of	ADP
cblr-13858	1028	23	finders	finder	NOUN
cblr-13858	1028	24	in	in	ADP
cblr-13858	1028	25	the	the	DET
cblr-13858	1028	26	private	private	ADJ
cblr-13858	1028	27	capital	capital	NOUN
cblr-13858	1028	28	raising	raising	NOUN
cblr-13858	1028	29	setting	setting	NOUN
cblr-13858	1028	30	,	,	PUNCT
cblr-13858	1028	31	37	37	NUM
cblr-13858	1028	32	ariz	ariz	NOUN
cblr-13858	1028	33	.	.	PUNCT
cblr-13858	1029	1	st	st	PROPN
cblr-13858	1029	2	.	.	PROPN
cblr-13858	1029	3	l.j	l.j	PROPN
cblr-13858	1029	4	.	.	PROPN
cblr-13858	1029	5	861	861	NUM
cblr-13858	1029	6	,	,	PUNCT
cblr-13858	1029	7	903	903	NUM
cblr-13858	1029	8	(	(	PUNCT
cblr-13858	1029	9	2005	2005	NUM
cblr-13858	1029	10	)	)	PUNCT
cblr-13858	1029	11	.	.	PUNCT
cblr-13858	1030	1	"	"	PUNCT
cblr-13858	1030	2	lipton	lipton	PROPN
cblr-13858	1030	3	,	,	PUNCT
cblr-13858	1030	4	supra	supra	PROPN
cblr-13858	1030	5	note	note	PROPN
cblr-13858	1030	6	253	253	NUM
cblr-13858	1030	7	,	,	PUNCT
cblr-13858	1030	8	at	at	ADP
cblr-13858	1030	9	1	1	NUM
cblr-13858	1030	10	-	-	SYM
cblr-13858	1030	11	222	222	NUM
cblr-13858	1030	12	.	.	PUNCT
cblr-13858	1031	1	no	no	DET
cblr-13858	1031	2	-	-	PUNCT
cblr-13858	1031	3	action	action	NOUN
cblr-13858	1031	4	letters	letter	NOUN
cblr-13858	1031	5	express	express	VERB
cblr-13858	1031	6	the	the	DET
cblr-13858	1031	7	views	view	NOUN
cblr-13858	1031	8	of	of	ADP
cblr-13858	1031	9	the	the	DET
cblr-13858	1031	10	staff	staff	NOUN
cblr-13858	1031	11	and	and	CCONJ
cblr-13858	1031	12	are	be	AUX
cblr-13858	1031	13	not	not	PART
cblr-13858	1031	14	the	the	DET
cblr-13858	1031	15	official	official	ADJ
cblr-13858	1031	16	view	view	NOUN
cblr-13858	1031	17	of	of	ADP
cblr-13858	1031	18	the	the	DET
cblr-13858	1031	19	sec	sec	PROPN
cblr-13858	1031	20	.	.	PROPN
cblr-13858	1031	21	17	17	NUM
cblr-13858	1031	22	c.f.r	c.f.r	NOUN
cblr-13858	1031	23	.	.	PUNCT
cblr-13858	1032	1	§	§	PROPN
cblr-13858	1032	2	202.1(d	202.1(d	PROPN
cblr-13858	1032	3	)	)	PUNCT
cblr-13858	1032	4	.	.	PUNCT
cblr-13858	1033	1	the	the	DET
cblr-13858	1033	2	sec	sec	PROPN
cblr-13858	1033	3	does	do	AUX
cblr-13858	1033	4	not	not	PART
cblr-13858	1033	5	consider	consider	VERB
cblr-13858	1033	6	them	they	PRON
cblr-13858	1033	7	binding	bind	VERB
cblr-13858	1033	8	precedent	precedent	NOUN
cblr-13858	1033	9	.	.	PUNCT
cblr-13858	1034	1	press	press	NOUN
cblr-13858	1034	2	release	release	PROPN
cblr-13858	1034	3	,	,	PUNCT
cblr-13858	1034	4	sec	sec	PROPN
cblr-13858	1034	5	,	,	PUNCT
cblr-13858	1034	6	adoption	adoption	NOUN
cblr-13858	1034	7	of	of	ADP
cblr-13858	1034	8	section	section	NOUN
cblr-13858	1034	9	200.81	200.81	NUM
cblr-13858	1034	10	(	(	PUNCT
cblr-13858	1034	11	17	17	NUM
cblr-13858	1034	12	cfr	cfr	NOUN
cblr-13858	1034	13	200.81	200.81	NUM
cblr-13858	1034	14	)	)	PUNCT
cblr-13858	1034	15	,	,	PUNCT
cblr-13858	1034	16	concerning	concern	VERB
cblr-13858	1034	17	public	public	ADJ
cblr-13858	1034	18	availability	availability	NOUN
cblr-13858	1034	19	of	of	ADP
cblr-13858	1034	20	requests	request	NOUN
cblr-13858	1034	21	for	for	ADP
cblr-13858	1034	22	no	no	DET
cblr-13858	1034	23	-	-	PUNCT
cblr-13858	1034	24	action	action	NOUN
cblr-13858	1034	25	and	and	CCONJ
cblr-13858	1034	26	interpretative	interpretative	ADJ
cblr-13858	1034	27	letters	letter	NOUN
cblr-13858	1034	28	and	and	CCONJ
cblr-13858	1034	29	the	the	DET
cblr-13858	1034	30	responses	response	NOUN
cblr-13858	1034	31	thereto	thereto	VERB
cblr-13858	1034	32	by	by	ADP
cblr-13858	1034	33	the	the	DET
cblr-13858	1034	34	commission	commission	NOUN
cblr-13858	1034	35	's	's	PART
cblr-13858	1034	36	staff	staff	NOUN
cblr-13858	1034	37	,	,	PUNCT
cblr-13858	1034	38	and	and	CCONJ
cblr-13858	1034	39	amendment	amendment	NOUN
cblr-13858	1034	40	of	of	ADP
cblr-13858	1034	41	section	section	NOUN
cblr-13858	1034	42	200.80	200.80	NUM
cblr-13858	1034	43	(	(	PUNCT
cblr-13858	1034	44	17	17	NUM
cblr-13858	1034	45	cfr	cfr	NOUN
cblr-13858	1034	46	200.80	200.80	NUM
cblr-13858	1034	47	)	)	PUNCT
cblr-13858	1034	48	(	(	PUNCT
cblr-13858	1034	49	oct	oct	PROPN
cblr-13858	1034	50	.	.	PROPN
cblr-13858	1034	51	29	29	NUM
cblr-13858	1034	52	,	,	PUNCT
cblr-13858	1034	53	1970	1970	NUM
cblr-13858	1034	54	)	)	PUNCT
cblr-13858	1034	55	,	,	PUNCT
cblr-13858	1034	56	1970	1970	NUM
cblr-13858	1034	57	wl	wl	NOUN
cblr-13858	1034	58	10582	10582	NUM
cblr-13858	1034	59	,	,	PUNCT
cblr-13858	1034	60	at	at	ADP
cblr-13858	1034	61	*	*	NOUN
cblr-13858	1034	62	2	2	NUM
cblr-13858	1034	63	.	.	PUNCT
cblr-13858	1035	1	"	"	PUNCT
cblr-13858	1035	2	nonetheless	nonetheless	ADV
cblr-13858	1035	3	,	,	PUNCT
cblr-13858	1035	4	as	as	ADP
cblr-13858	1035	5	a	a	DET
cblr-13858	1035	6	practical	practical	ADJ
cblr-13858	1035	7	matter	matter	NOUN
cblr-13858	1035	8	,	,	PUNCT
cblr-13858	1035	9	practitioners	practitioner	NOUN
cblr-13858	1035	10	place	place	VERB
cblr-13858	1035	11	significant	significant	ADJ
cblr-13858	1035	12	reliance	reliance	NOUN
cblr-13858	1035	13	on	on	ADP
cblr-13858	1035	14	"	"	PUNCT
cblr-13858	1035	15	them	they	PRON
cblr-13858	1035	16	and	and	CCONJ
cblr-13858	1035	17	"	"	PUNCT
cblr-13858	1035	18	they	they	PRON
cblr-13858	1035	19	clearly	clearly	ADV
cblr-13858	1035	20	influence	influence	VERB
cblr-13858	1035	21	judicial	judicial	ADJ
cblr-13858	1035	22	opinions	opinion	NOUN
cblr-13858	1035	23	.	.	PUNCT
cblr-13858	1035	24	"	"	PUNCT
cblr-13858	1036	1	lipton	lipton	PROPN
cblr-13858	1036	2	,	,	PUNCT
cblr-13858	1036	3	supra	supra	PROPN
cblr-13858	1036	4	note	note	PROPN
cblr-13858	1036	5	253	253	NUM
cblr-13858	1036	6	,	,	PUNCT
cblr-13858	1036	7	at	at	ADP
cblr-13858	1036	8	1	1	NUM
cblr-13858	1036	9	-	-	SYM
cblr-13858	1036	10	224	224	NUM
cblr-13858	1036	11	.	.	PUNCT
cblr-13858	1037	1	257	257	NUM
cblr-13858	1037	2	lipton	lipton	PROPN
cblr-13858	1037	3	,	,	PUNCT
cblr-13858	1037	4	supra	supra	PROPN
cblr-13858	1037	5	note	note	PROPN
cblr-13858	1037	6	253	253	NUM
cblr-13858	1037	7	,	,	PUNCT
cblr-13858	1037	8	at	at	ADP
cblr-13858	1037	9	1	1	NUM
cblr-13858	1037	10	-	-	SYM
cblr-13858	1037	11	226	226	NUM
cblr-13858	1037	12	(	(	PUNCT
cblr-13858	1037	13	"	"	PUNCT
cblr-13858	1037	14	even	even	ADV
cblr-13858	1037	15	comparing	compare	VERB
cblr-13858	1037	16	the	the	DET
cblr-13858	1037	17	facts	fact	NOUN
cblr-13858	1037	18	cited	cite	VERB
cblr-13858	1037	19	in	in	ADP
cblr-13858	1037	20	one	one	NUM
cblr-13858	1037	21	no	no	DET
cblr-13858	1037	22	-	-	PUNCT
cblr-13858	1037	23	action	action	NOUN
cblr-13858	1037	24	letter	letter	NOUN
cblr-13858	1037	25	with	with	ADP
cblr-13858	1037	26	those	those	PRON
cblr-13858	1037	27	in	in	ADP
cblr-13858	1037	28	numerous	numerous	ADJ
cblr-13858	1037	29	other	other	ADJ
cblr-13858	1037	30	letters	letter	NOUN
cblr-13858	1037	31	does	do	AUX
cblr-13858	1037	32	not	not	PART
cblr-13858	1037	33	necessarily	necessarily	ADV
cblr-13858	1037	34	indicate	indicate	VERB
cblr-13858	1037	35	which	which	DET
cblr-13858	1037	36	factors	factor	NOUN
cblr-13858	1037	37	were	be	AUX
cblr-13858	1037	38	most	most	ADV
cblr-13858	1037	39	persuasive	persuasive	ADJ
cblr-13858	1037	40	for	for	ADP
cblr-13858	1037	41	the	the	DET
cblr-13858	1037	42	staff	staff	NOUN
cblr-13858	1037	43	because	because	SCONJ
cblr-13858	1037	44	the	the	DET
cblr-13858	1037	45	staff	staff	NOUN
cblr-13858	1037	46	has	have	AUX
cblr-13858	1037	47	placed	place	VERB
cblr-13858	1037	48	different	different	ADJ
cblr-13858	1037	49	emphasis	emphasis	NOUN
cblr-13858	1037	50	on	on	ADP
cblr-13858	1037	51	the	the	DET
cblr-13858	1037	52	same	same	ADJ
cblr-13858	1037	53	factors	factor	NOUN
cblr-13858	1037	54	at	at	ADP
cblr-13858	1037	55	varying	vary	VERB
cblr-13858	1037	56	times	time	NOUN
cblr-13858	1037	57	.	.	PUNCT
cblr-13858	1037	58	"	"	PUNCT
cblr-13858	1037	59	)	)	PUNCT
cblr-13858	1037	60	.	.	PUNCT
cblr-13858	1038	1	258	258	NUM
cblr-13858	1039	1	i	i	PRON
cblr-13858	1039	2	d.	d.	PROPN
cblr-13858	1039	3	at	at	ADP
cblr-13858	1039	4	1	1	NUM
cblr-13858	1039	5	-	-	SYM
cblr-13858	1039	6	48	48	NUM
cblr-13858	1039	7	.	.	PUNCT
cblr-13858	1040	1	52	52	NUM
cblr-13858	1041	1	[	[	X
cblr-13858	1041	2	vol	vol	NOUN
cblr-13858	1041	3	.	.	PUNCT
cblr-13858	1041	4	2012	2012	NUM
cblr-13858	1041	5	cro	cro	NOUN
cblr-13858	1041	6	wdfunding	wdfunding	NOUN
cblr-13858	1041	7	and	and	CCONJ
cblr-13858	1041	8	securities	security	NOUN
cblr-13858	1041	9	laws	law	NOUN
cblr-13858	1041	10	no	no	DET
cblr-13858	1041	11	-	-	PUNCT
cblr-13858	1041	12	action	action	NOUN
cblr-13858	1041	13	relief	relief	NOUN
cblr-13858	1041	14	from	from	ADP
cblr-13858	1041	15	the	the	DET
cblr-13858	1041	16	sec.259	sec.259	NOUN
cblr-13858	1041	17	however	however	ADV
cblr-13858	1041	18	,	,	PUNCT
cblr-13858	1041	19	the	the	DET
cblr-13858	1041	20	sec	sec	PROPN
cblr-13858	1041	21	's	's	PART
cblr-13858	1041	22	view	view	NOUN
cblr-13858	1041	23	of	of	ADP
cblr-13858	1041	24	what	what	PRON
cblr-13858	1041	25	constitutes	constitute	VERB
cblr-13858	1041	26	a	a	DET
cblr-13858	1041	27	broker	broker	NOUN
cblr-13858	1041	28	is	be	AUX
cblr-13858	1041	29	expansive	expansive	ADJ
cblr-13858	1041	30	,	,	PUNCT
cblr-13858	1041	31	and	and	CCONJ
cblr-13858	1041	32	crowdfunding	crowdfunde	VERB
cblr-13858	1041	33	sites	site	NOUN
cblr-13858	1041	34	deviate	deviate	VERB
cblr-13858	1041	35	in	in	ADP
cblr-13858	1041	36	important	important	ADJ
cblr-13858	1041	37	ways	way	NOUN
cblr-13858	1041	38	from	from	ADP
cblr-13858	1041	39	what	what	PRON
cblr-13858	1041	40	the	the	DET
cblr-13858	1041	41	sec	sec	PROPN
cblr-13858	1041	42	has	have	AUX
cblr-13858	1041	43	allowed	allow	VERB
cblr-13858	1041	44	in	in	ADP
cblr-13858	1041	45	other	other	ADJ
cblr-13858	1041	46	contexts	contexts	NOUN
cblr-13858	1041	47	.	.	PUNCT
cblr-13858	1042	1	because	because	SCONJ
cblr-13858	1042	2	of	of	ADP
cblr-13858	1042	3	this	this	PRON
cblr-13858	1042	4	,	,	PUNCT
cblr-13858	1042	5	there	there	PRON
cblr-13858	1042	6	is	be	VERB
cblr-13858	1042	7	a	a	DET
cblr-13858	1042	8	strong	strong	ADJ
cblr-13858	1042	9	possibility	possibility	NOUN
cblr-13858	1042	10	that	that	SCONJ
cblr-13858	1042	11	sites	site	NOUN
cblr-13858	1042	12	hosting	host	VERB
cblr-13858	1042	13	crowdfunded	crowdfunde	VERB
cblr-13858	1042	14	securities	security	NOUN
cblr-13858	1042	15	offerings	offering	NOUN
cblr-13858	1042	16	would	would	AUX
cblr-13858	1042	17	be	be	AUX
cblr-13858	1042	18	required	require	VERB
cblr-13858	1042	19	to	to	PART
cblr-13858	1042	20	register	register	VERB
cblr-13858	1042	21	as	as	ADP
cblr-13858	1042	22	brokers.26	brokers.26	X
cblr-13858	1042	23	0	0	NUM
cblr-13858	1042	24	1	1	NUM
cblr-13858	1042	25	.	.	NUM
cblr-13858	1042	26	engaged	engage	VERB
cblr-13858	1042	27	in	in	ADP
cblr-13858	1042	28	the	the	DET
cblr-13858	1042	29	business	business	NOUN
cblr-13858	1042	30	crowdfunding	crowdfunding	NOUN
cblr-13858	1042	31	sites	site	NOUN
cblr-13858	1042	32	would	would	AUX
cblr-13858	1042	33	satisfy	satisfy	VERB
cblr-13858	1042	34	the	the	DET
cblr-13858	1042	35	"	"	PUNCT
cblr-13858	1042	36	engaged	engage	VERB
cblr-13858	1042	37	in	in	ADP
cblr-13858	1042	38	the	the	DET
cblr-13858	1042	39	business	business	NOUN
cblr-13858	1042	40	"	"	PUNCT
cblr-13858	1042	41	part	part	NOUN
cblr-13858	1042	42	of	of	ADP
cblr-13858	1042	43	the	the	DET
cblr-13858	1042	44	definition	definition	NOUN
cblr-13858	1042	45	.	.	PUNCT
cblr-13858	1043	1	to	to	PART
cblr-13858	1043	2	be	be	AUX
cblr-13858	1043	3	"	"	PUNCT
cblr-13858	1043	4	engaged	engage	VERB
cblr-13858	1043	5	in	in	ADP
cblr-13858	1043	6	the	the	DET
cblr-13858	1043	7	business	business	NOUN
cblr-13858	1043	8	,	,	PUNCT
cblr-13858	1043	9	"	"	PUNCT
cblr-13858	1043	10	one	one	PRON
cblr-13858	1043	11	must	must	AUX
cblr-13858	1043	12	be	be	AUX
cblr-13858	1043	13	effecting	effect	VERB
cblr-13858	1043	14	securities	security	NOUN
cblr-13858	1043	15	transactions	transaction	NOUN
cblr-13858	1043	16	with	with	ADP
cblr-13858	1043	17	some	some	DET
cblr-13858	1043	18	regularity	regularity	NOUN
cblr-13858	1043	19	-	-	PUNCT
cblr-13858	1043	20	a	a	DET
cblr-13858	1043	21	single	single	ADJ
cblr-13858	1043	22	,	,	PUNCT
cblr-13858	1043	23	isolated	isolated	ADJ
cblr-13858	1043	24	transaction	transaction	NOUN
cblr-13858	1043	25	does	do	AUX
cblr-13858	1043	26	not	not	PART
cblr-13858	1043	27	make	make	VERB
cblr-13858	1043	28	one	one	NOUN
cblr-13858	1043	29	a	a	DET
cblr-13858	1043	30	broker.261	broker.261	NOUN
cblr-13858	1043	31	however	however	ADV
cblr-13858	1043	32	,	,	PUNCT
cblr-13858	1043	33	securities	security	NOUN
cblr-13858	1043	34	transactions	transaction	NOUN
cblr-13858	1043	35	need	need	AUX
cblr-13858	1043	36	not	not	PART
cblr-13858	1043	37	be	be	AUX
cblr-13858	1043	38	the	the	DET
cblr-13858	1043	39	sole	sole	ADJ
cblr-13858	1043	40	,	,	PUNCT
cblr-13858	1043	41	or	or	CCONJ
cblr-13858	1043	42	even	even	ADV
cblr-13858	1043	43	the	the	DET
cblr-13858	1043	44	primary	primary	ADJ
cblr-13858	1043	45	,	,	PUNCT
cblr-13858	1043	46	business	business	NOUN
cblr-13858	1043	47	of	of	ADP
cblr-13858	1043	48	the	the	DET
cblr-13858	1043	49	companies	company	NOUN
cblr-13858	1043	50	operating	operate	VERB
cblr-13858	1043	51	such	such	ADJ
cblr-13858	1043	52	sites.262	sites.262	NOUN
cblr-13858	1043	53	one	one	NOUN
cblr-13858	1043	54	can	can	AUX
cblr-13858	1043	55	be	be	AUX
cblr-13858	1043	56	a	a	DET
cblr-13858	1043	57	broker	broker	NOUN
cblr-13858	1043	58	even	even	ADV
cblr-13858	1043	59	though	though	SCONJ
cblr-13858	1043	60	securities	security	NOUN
cblr-13858	1043	61	transactions	transaction	NOUN
cblr-13858	1043	62	are	be	AUX
cblr-13858	1043	63	"	"	PUNCT
cblr-13858	1043	64	only	only	ADV
cblr-13858	1043	65	a	a	DET
cblr-13858	1043	66	small	small	ADJ
cblr-13858	1043	67	part	part	NOUN
cblr-13858	1043	68	of	of	ADP
cblr-13858	1043	69	...	...	PUNCT
cblr-13858	1044	1	[	[	X
cblr-13858	1044	2	one	one	NUM
cblr-13858	1044	3	's	's	PART
cblr-13858	1044	4	]	]	PUNCT
cblr-13858	1044	5	.	.	PUNCT
cblr-13858	1044	6	.	.	PUNCT
cblr-13858	1044	7	.	.	PUNCT
cblr-13858	1045	1	business	business	NOUN
cblr-13858	1045	2	activity	activity	NOUN
cblr-13858	1045	3	.	.	PUNCT
cblr-13858	1046	1	"26	"26	X
cblr-13858	1046	2	3	3	NUM
cblr-13858	1046	3	if	if	SCONJ
cblr-13858	1046	4	the	the	DET
cblr-13858	1046	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1046	6	sites	site	NOUN
cblr-13858	1046	7	are	be	AUX
cblr-13858	1046	8	effecting	effect	VERB
cblr-13858	1046	9	transactions	transaction	NOUN
cblr-13858	1046	10	in	in	ADP
cblr-13858	1046	11	securities	security	NOUN
cblr-13858	1046	12	,	,	PUNCT
cblr-13858	1046	13	they	they	PRON
cblr-13858	1046	14	undoubtedly	undoubtedly	ADV
cblr-13858	1046	15	are	be	AUX
cblr-13858	1046	16	"	"	PUNCT
cblr-13858	1046	17	engaged	engage	VERB
cblr-13858	1046	18	in	in	ADP
cblr-13858	1046	19	the	the	DET
cblr-13858	1046	20	business	business	NOUN
cblr-13858	1046	21	"	"	PUNCT
cblr-13858	1046	22	of	of	ADP
cblr-13858	1046	23	doing	do	VERB
cblr-13858	1046	24	so	so	ADV
cblr-13858	1046	25	.	.	PUNCT
cblr-13858	1047	1	their	their	PRON
cblr-13858	1047	2	activity	activity	NOUN
cblr-13858	1047	3	is	be	AUX
cblr-13858	1047	4	regular	regular	ADJ
cblr-13858	1047	5	;	;	PUNCT
cblr-13858	1047	6	they	they	PRON
cblr-13858	1047	7	match	match	VERB
cblr-13858	1047	8	investors	investor	NOUN
cblr-13858	1047	9	and	and	CCONJ
cblr-13858	1047	10	entrepreneurs	entrepreneur	NOUN
cblr-13858	1047	11	on	on	ADP
cblr-13858	1047	12	a	a	DET
cblr-13858	1047	13	continuous	continuous	ADJ
cblr-13858	1047	14	basis	basis	NOUN
cblr-13858	1047	15	.	.	PUNCT
cblr-13858	1048	1	and	and	CCONJ
cblr-13858	1048	2	,	,	PUNCT
cblr-13858	1048	3	with	with	ADP
cblr-13858	1048	4	the	the	DET
cblr-13858	1048	5	exception	exception	NOUN
cblr-13858	1048	6	of	of	ADP
cblr-13858	1048	7	sites	site	NOUN
cblr-13858	1048	8	like	like	ADP
cblr-13858	1048	9	kiva	kiva	PROPN
cblr-13858	1048	10	that	that	PRON
cblr-13858	1048	11	operate	operate	VERB
cblr-13858	1048	12	on	on	ADP
cblr-13858	1048	13	a	a	DET
cblr-13858	1048	14	donation	donation	NOUN
cblr-13858	1048	15	basis	basis	NOUN
cblr-13858	1048	16	,	,	PUNCT
cblr-13858	1048	17	they	they	PRON
cblr-13858	1048	18	do	do	VERB
cblr-13858	1048	19	so	so	ADV
cblr-13858	1048	20	for	for	ADP
cblr-13858	1048	21	a	a	DET
cblr-13858	1048	22	business	business	NOUN
cblr-13858	1048	23	purpose	purpose	NOUN
cblr-13858	1048	24	-	-	PUNCT
cblr-13858	1048	25	to	to	PART
cblr-13858	1048	26	earn	earn	VERB
cblr-13858	1048	27	a	a	DET
cblr-13858	1048	28	profit.26	profit.26	ADJ
cblr-13858	1048	29	4	4	NUM
cblr-13858	1048	30	thus	thus	ADV
cblr-13858	1048	31	,	,	PUNCT
cblr-13858	1048	32	259	259	NUM
cblr-13858	1048	33	prosper	prosper	NOUN
cblr-13858	1048	34	,	,	PUNCT
cblr-13858	1048	35	one	one	NUM
cblr-13858	1048	36	of	of	ADP
cblr-13858	1048	37	the	the	DET
cblr-13858	1048	38	peer	peer	NOUN
cblr-13858	1048	39	-	-	PUNCT
cblr-13858	1048	40	to	to	ADP
cblr-13858	1048	41	-	-	PUNCT
cblr-13858	1048	42	peer	peer	NOUN
cblr-13858	1048	43	lending	lending	NOUN
cblr-13858	1048	44	sites	site	NOUN
cblr-13858	1048	45	,	,	PUNCT
cblr-13858	1048	46	submitted	submit	VERB
cblr-13858	1048	47	a	a	DET
cblr-13858	1048	48	no	no	DET
cblr-13858	1048	49	-	-	PUNCT
cblr-13858	1048	50	action	action	NOUN
cblr-13858	1048	51	request	request	NOUN
cblr-13858	1048	52	shortly	shortly	ADV
cblr-13858	1048	53	after	after	ADP
cblr-13858	1048	54	its	its	PRON
cblr-13858	1048	55	launch	launch	NOUN
cblr-13858	1048	56	but	but	CCONJ
cblr-13858	1048	57	withdrew	withdraw	VERB
cblr-13858	1048	58	it	it	PRON
cblr-13858	1048	59	before	before	SCONJ
cblr-13858	1048	60	the	the	DET
cblr-13858	1048	61	staff	staff	NOUN
cblr-13858	1048	62	responded	respond	VERB
cblr-13858	1048	63	.	.	PUNCT
cblr-13858	1049	1	verstein	verstein	NOUN
cblr-13858	1049	2	,	,	PUNCT
cblr-13858	1049	3	supra	supra	PROPN
cblr-13858	1049	4	note	note	NOUN
cblr-13858	1049	5	12	12	NUM
cblr-13858	1049	6	.	.	NOUN
cblr-13858	1049	7	260	260	NUM
cblr-13858	1049	8	at	at	ADV
cblr-13858	1049	9	least	least	ADV
cblr-13858	1049	10	one	one	NUM
cblr-13858	1049	11	state	state	NOUN
cblr-13858	1049	12	,	,	PUNCT
cblr-13858	1049	13	california	california	PROPN
cblr-13858	1049	14	,	,	PUNCT
cblr-13858	1049	15	has	have	AUX
cblr-13858	1049	16	taken	take	VERB
cblr-13858	1049	17	the	the	DET
cblr-13858	1049	18	position	position	NOUN
cblr-13858	1049	19	that	that	SCONJ
cblr-13858	1049	20	a	a	DET
cblr-13858	1049	21	crowdfunding	crowdfunding	NOUN
cblr-13858	1049	22	site	site	NOUN
cblr-13858	1049	23	that	that	PRON
cblr-13858	1049	24	sells	sell	VERB
cblr-13858	1049	25	securities	security	NOUN
cblr-13858	1049	26	is	be	AUX
cblr-13858	1049	27	a	a	DET
cblr-13858	1049	28	broker	broker	NOUN
cblr-13858	1049	29	for	for	ADP
cblr-13858	1049	30	purposes	purpose	NOUN
cblr-13858	1049	31	of	of	ADP
cblr-13858	1049	32	state	state	NOUN
cblr-13858	1049	33	law	law	NOUN
cblr-13858	1049	34	.	.	PUNCT
cblr-13858	1050	1	see	see	VERB
cblr-13858	1050	2	profounder	profounder	NOUN
cblr-13858	1050	3	fin	fin	PROPN
cblr-13858	1050	4	.	.	PROPN
cblr-13858	1050	5	,	,	PUNCT
cblr-13858	1050	6	inc	inc	PROPN
cblr-13858	1050	7	.	.	PROPN
cblr-13858	1050	8	,	,	PUNCT
cblr-13858	1050	9	consent	consent	VERB
cblr-13858	1050	10	order	order	NOUN
cblr-13858	1050	11	to	to	PART
cblr-13858	1050	12	desist	desist	VERB
cblr-13858	1050	13	and	and	CCONJ
cblr-13858	1050	14	refrain	refrain	VERB
cblr-13858	1050	15	(	(	PUNCT
cblr-13858	1050	16	aug	aug	PROPN
cblr-13858	1050	17	.	.	PROPN
cblr-13858	1050	18	31	31	NUM
cblr-13858	1050	19	,	,	PUNCT
cblr-13858	1050	20	2011	2011	NUM
cblr-13858	1050	21	)	)	PUNCT
cblr-13858	1050	22	,	,	PUNCT
cblr-13858	1050	23	available	available	ADJ
cblr-13858	1050	24	at	at	ADP
cblr-13858	1050	25	www.corp.ca.gov/enf/pdfl2011/profounder	www.corp.ca.gov/enf/pdfl2011/profounder	PROPN
cblr-13858	1050	26	co.pdf	co.pdf	PROPN
cblr-13858	1050	27	.	.	PUNCT
cblr-13858	1051	1	261	261	NUM
cblr-13858	1051	2	sec	sec	PROPN
cblr-13858	1051	3	v.	v.	PROPN
cblr-13858	1051	4	kenton	kenton	PROPN
cblr-13858	1051	5	capital	capital	PROPN
cblr-13858	1051	6	,	,	PUNCT
cblr-13858	1051	7	ltd	ltd	PROPN
cblr-13858	1051	8	.	.	PROPN
cblr-13858	1051	9	,	,	PUNCT
cblr-13858	1051	10	69	69	NUM
cblr-13858	1051	11	f.	f.	PROPN
cblr-13858	1051	12	supp	supp	PROPN
cblr-13858	1051	13	.	.	PUNCT
cblr-13858	1052	1	2d	2d	PROPN
cblr-13858	1052	2	1	1	NUM
cblr-13858	1052	3	,	,	PUNCT
cblr-13858	1052	4	12	12	NUM
cblr-13858	1052	5	(	(	PUNCT
cblr-13858	1052	6	d.d.c	d.d.c	PROPN
cblr-13858	1052	7	.	.	PROPN
cblr-13858	1052	8	1998	1998	NUM
cblr-13858	1052	9	)	)	PUNCT
cblr-13858	1052	10	;	;	PUNCT
cblr-13858	1052	11	mass	mass	PROPN
cblr-13858	1052	12	.	.	PUNCT
cblr-13858	1053	1	fin	fin	NOUN
cblr-13858	1053	2	.	.	PUNCT
cblr-13858	1054	1	servs	servs	PROPN
cblr-13858	1054	2	.	.	PROPN
cblr-13858	1054	3	,	,	PUNCT
cblr-13858	1054	4	inc	inc	PROPN
cblr-13858	1054	5	.	.	PROPN
cblr-13858	1054	6	v.	v.	PROPN
cblr-13858	1054	7	sec	sec	PROPN
cblr-13858	1054	8	.	.	PUNCT
cblr-13858	1054	9	investor	investor	PROPN
cblr-13858	1054	10	protection	protection	PROPN
cblr-13858	1054	11	corp	corp	PROPN
cblr-13858	1054	12	.	.	PROPN
cblr-13858	1054	13	,	,	PUNCT
cblr-13858	1054	14	411	411	NUM
cblr-13858	1054	15	f.	f.	PROPN
cblr-13858	1054	16	supp	supp	PROPN
cblr-13858	1054	17	.	.	PUNCT
cblr-13858	1055	1	411	411	NUM
cblr-13858	1055	2	,	,	PUNCT
cblr-13858	1055	3	415	415	NUM
cblr-13858	1055	4	(	(	PUNCT
cblr-13858	1055	5	d.	d.	PROPN
cblr-13858	1055	6	mass	mass	PROPN
cblr-13858	1055	7	.	.	PUNCT
cblr-13858	1055	8	)	)	PUNCT
cblr-13858	1055	9	,	,	PUNCT
cblr-13858	1055	10	affd	affd	PROPN
cblr-13858	1055	11	,	,	PUNCT
cblr-13858	1055	12	545	545	NUM
cblr-13858	1055	13	f.2d	f.2d	NUM
cblr-13858	1055	14	754	754	NUM
cblr-13858	1055	15	(	(	PUNCT
cblr-13858	1055	16	1st	1st	ADJ
cblr-13858	1055	17	cir	cir	NOUN
cblr-13858	1055	18	.	.	PUNCT
cblr-13858	1055	19	1976	1976	NUM
cblr-13858	1055	20	)	)	PUNCT
cblr-13858	1055	21	;	;	PUNCT
cblr-13858	1055	22	hazen	hazen	PROPN
cblr-13858	1055	23	,	,	PUNCT
cblr-13858	1055	24	supra	supra	PROPN
cblr-13858	1055	25	note	note	PROPN
cblr-13858	1055	26	42	42	NUM
cblr-13858	1055	27	,	,	PUNCT
cblr-13858	1055	28	at	at	ADP
cblr-13858	1055	29	213	213	NUM
cblr-13858	1055	30	;	;	PUNCT
cblr-13858	1055	31	lipton	lipton	PROPN
cblr-13858	1055	32	,	,	PUNCT
cblr-13858	1055	33	supra	supra	PROPN
cblr-13858	1055	34	note	note	PROPN
cblr-13858	1055	35	253	253	NUM
cblr-13858	1055	36	,	,	PUNCT
cblr-13858	1055	37	at	at	ADP
cblr-13858	1055	38	1	1	NUM
cblr-13858	1055	39	-	-	SYM
cblr-13858	1055	40	42.4	42.4	NUM
cblr-13858	1055	41	-	-	PUNCT
cblr-13858	1055	42	1	1	NUM
cblr-13858	1055	43	-	-	NUM
cblr-13858	1055	44	42.5	42.5	NUM
cblr-13858	1055	45	;	;	PUNCT
cblr-13858	1055	46	poser	poser	NOUN
cblr-13858	1055	47	&	&	CCONJ
cblr-13858	1055	48	fanto	fanto	PROPN
cblr-13858	1055	49	,	,	PUNCT
cblr-13858	1055	50	supra	supra	PROPN
cblr-13858	1055	51	note	note	PROPN
cblr-13858	1055	52	254	254	NUM
cblr-13858	1055	53	,	,	PUNCT
cblr-13858	1055	54	at	at	ADP
cblr-13858	1055	55	5	5	NUM
cblr-13858	1055	56	-	-	SYM
cblr-13858	1055	57	11	11	NUM
cblr-13858	1055	58	.	.	PUNCT
cblr-13858	1056	1	262	262	NUM
cblr-13858	1056	2	ufitec	ufitec	ADJ
cblr-13858	1056	3	,	,	PUNCT
cblr-13858	1056	4	s.a	s.a	PROPN
cblr-13858	1056	5	.	.	PROPN
cblr-13858	1056	6	v.	v.	PROPN
cblr-13858	1056	7	carter	carter	PROPN
cblr-13858	1056	8	,	,	PUNCT
cblr-13858	1056	9	571	571	NUM
cblr-13858	1056	10	p.2d	p.2d	SYM
cblr-13858	1056	11	990	990	NUM
cblr-13858	1056	12	,	,	PUNCT
cblr-13858	1056	13	994	994	NUM
cblr-13858	1056	14	(	(	PUNCT
cblr-13858	1056	15	cal	cal	PROPN
cblr-13858	1056	16	.	.	PUNCT
cblr-13858	1056	17	1977	1977	NUM
cblr-13858	1056	18	)	)	PUNCT
cblr-13858	1056	19	;	;	PUNCT
cblr-13858	1056	20	lipton	lipton	PROPN
cblr-13858	1056	21	,	,	PUNCT
cblr-13858	1056	22	supra	supra	PROPN
cblr-13858	1056	23	note	note	PROPN
cblr-13858	1056	24	253	253	NUM
cblr-13858	1056	25	,	,	PUNCT
cblr-13858	1056	26	at	at	ADP
cblr-13858	1056	27	1	1	NUM
cblr-13858	1056	28	-	-	SYM
cblr-13858	1056	29	42.8	42.8	NUM
cblr-13858	1056	30	;	;	PUNCT
cblr-13858	1056	31	poser	poser	NOUN
cblr-13858	1056	32	&	&	CCONJ
cblr-13858	1056	33	fanto	fanto	PROPN
cblr-13858	1056	34	,	,	PUNCT
cblr-13858	1056	35	supra	supra	PROPN
cblr-13858	1056	36	note	note	PROPN
cblr-13858	1056	37	254	254	NUM
cblr-13858	1056	38	,	,	PUNCT
cblr-13858	1056	39	at	at	ADP
cblr-13858	1056	40	5	5	NUM
cblr-13858	1056	41	-	-	SYM
cblr-13858	1056	42	11	11	NUM
cblr-13858	1056	43	.	.	PUNCT
cblr-13858	1056	44	263	263	NUM
cblr-13858	1056	45	kenton	kenton	PROPN
cblr-13858	1056	46	capital	capital	NOUN
cblr-13858	1056	47	,	,	PUNCT
cblr-13858	1056	48	69	69	NUM
cblr-13858	1056	49	f.	f.	PROPN
cblr-13858	1056	50	supp	supp	PROPN
cblr-13858	1056	51	.	.	PUNCT
cblr-13858	1057	1	2d	2d	PROPN
cblr-13858	1057	2	at	at	ADP
cblr-13858	1057	3	13	13	NUM
cblr-13858	1057	4	.	.	PUNCT
cblr-13858	1057	5	264	264	NUM
cblr-13858	1057	6	see	see	VERB
cblr-13858	1057	7	infra	infra	NOUN
cblr-13858	1057	8	part	part	NOUN
cblr-13858	1057	9	iv.b.2.e	iv.b.2.e	NOUN
cblr-13858	1057	10	.	.	PUNCT
cblr-13858	1058	1	no	no	INTJ
cblr-13858	1058	2	.	.	PUNCT
cblr-13858	1059	1	i:1	i:1	PROPN
cblr-13858	1059	2	]	]	X
cblr-13858	1059	3	53	53	NUM
cblr-13858	1059	4	the	the	DET
cblr-13858	1059	5	real	real	ADJ
cblr-13858	1059	6	question	question	NOUN
cblr-13858	1059	7	is	be	AUX
cblr-13858	1059	8	whether	whether	SCONJ
cblr-13858	1059	9	crowdfunding	crowdfunding	NOUN
cblr-13858	1059	10	sites	site	NOUN
cblr-13858	1059	11	are	be	AUX
cblr-13858	1059	12	effecting	effect	VERB
cblr-13858	1059	13	transactions	transaction	NOUN
cblr-13858	1059	14	in	in	ADP
cblr-13858	1059	15	securities	security	NOUN
cblr-13858	1059	16	.	.	PUNCT
cblr-13858	1060	1	2	2	X
cblr-13858	1060	2	.	.	X
cblr-13858	1060	3	effecting	effect	VERB
cblr-13858	1060	4	transactions	transaction	NOUN
cblr-13858	1060	5	in	in	ADP
cblr-13858	1060	6	securities	security	NOUN
cblr-13858	1060	7	a.	a.	NOUN
cblr-13858	1060	8	general	general	PROPN
cblr-13858	1060	9	guidance	guidance	VERB
cblr-13858	1060	10	what	what	PRON
cblr-13858	1060	11	exactly	exactly	ADV
cblr-13858	1060	12	does	do	AUX
cblr-13858	1060	13	it	it	PRON
cblr-13858	1060	14	mean	mean	VERB
cblr-13858	1060	15	to	to	PART
cblr-13858	1060	16	effect	effect	VERB
cblr-13858	1060	17	transactions	transaction	NOUN
cblr-13858	1060	18	in	in	ADP
cblr-13858	1060	19	securities	security	NOUN
cblr-13858	1060	20	?	?	PUNCT
cblr-13858	1061	1	the	the	DET
cblr-13858	1061	2	stereotypical	stereotypical	ADJ
cblr-13858	1061	3	stock	stock	NOUN
cblr-13858	1061	4	broker	broker	PROPN
cblr-13858	1061	5	who	who	PRON
cblr-13858	1061	6	buys	buy	VERB
cblr-13858	1061	7	and	and	CCONJ
cblr-13858	1061	8	sells	sell	VERB
cblr-13858	1061	9	securities	security	NOUN
cblr-13858	1061	10	on	on	ADP
cblr-13858	1061	11	a	a	DET
cblr-13858	1061	12	stock	stock	NOUN
cblr-13858	1061	13	exchange	exchange	NOUN
cblr-13858	1061	14	for	for	ADP
cblr-13858	1061	15	a	a	DET
cblr-13858	1061	16	customer	customer	NOUN
cblr-13858	1061	17	's	's	PART
cblr-13858	1061	18	account	account	NOUN
cblr-13858	1061	19	is	be	AUX
cblr-13858	1061	20	clearly	clearly	ADV
cblr-13858	1061	21	covered	cover	VERB
cblr-13858	1061	22	,	,	PUNCT
cblr-13858	1061	23	265	265	NUM
cblr-13858	1061	24	but	but	CCONJ
cblr-13858	1061	25	crowdfunding	crowdfunding	NOUN
cblr-13858	1061	26	sites	site	NOUN
cblr-13858	1061	27	do	do	AUX
cblr-13858	1061	28	not	not	PART
cblr-13858	1061	29	fit	fit	VERB
cblr-13858	1061	30	that	that	DET
cblr-13858	1061	31	stereotype	stereotype	NOUN
cblr-13858	1061	32	.	.	PUNCT
cblr-13858	1062	1	the	the	DET
cblr-13858	1062	2	definition	definition	NOUN
cblr-13858	1062	3	also	also	ADV
cblr-13858	1062	4	includes	include	VERB
cblr-13858	1062	5	companies	company	NOUN
cblr-13858	1062	6	whose	whose	DET
cblr-13858	1062	7	involvement	involvement	NOUN
cblr-13858	1062	8	in	in	ADP
cblr-13858	1062	9	securities	security	NOUN
cblr-13858	1062	10	transactions	transaction	NOUN
cblr-13858	1062	11	is	be	AUX
cblr-13858	1062	12	less	less	ADV
cblr-13858	1062	13	direct	direct	ADJ
cblr-13858	1062	14	,	,	PUNCT
cblr-13858	1062	15	"	"	PUNCT
cblr-13858	1062	16	so	so	ADV
cblr-13858	1062	17	long	long	ADV
cblr-13858	1062	18	as	as	SCONJ
cblr-13858	1062	19	the	the	DET
cblr-13858	1062	20	person	person	NOUN
cblr-13858	1062	21	participates	participate	VERB
cblr-13858	1062	22	in	in	ADP
cblr-13858	1062	23	significant	significant	ADJ
cblr-13858	1062	24	stages	stage	NOUN
cblr-13858	1062	25	or	or	CCONJ
cblr-13858	1062	26	points	point	NOUN
cblr-13858	1062	27	of	of	ADP
cblr-13858	1062	28	a	a	DET
cblr-13858	1062	29	securities	security	NOUN
cblr-13858	1062	30	transaction	transaction	NOUN
cblr-13858	1062	31	,	,	PUNCT
cblr-13858	1062	32	such	such	ADJ
cblr-13858	1062	33	as	as	ADP
cblr-13858	1062	34	solicitation	solicitation	NOUN
cblr-13858	1062	35	,	,	PUNCT
cblr-13858	1062	36	structuring	structuring	NOUN
cblr-13858	1062	37	,	,	PUNCT
cblr-13858	1062	38	negotiation	negotiation	NOUN
cblr-13858	1062	39	,	,	PUNCT
cblr-13858	1062	40	and	and	CCONJ
cblr-13858	1062	41	receipt	receipt	NOUN
cblr-13858	1062	42	or	or	CCONJ
cblr-13858	1062	43	transmission	transmission	NOUN
cblr-13858	1062	44	of	of	ADP
cblr-13858	1062	45	funds	fund	NOUN
cblr-13858	1062	46	.	.	PUNCT
cblr-13858	1063	1	"26	"26	X
cblr-13858	1063	2	6	6	NUM
cblr-13858	1063	3	the	the	DET
cblr-13858	1063	4	question	question	NOUN
cblr-13858	1063	5	,	,	PUNCT
cblr-13858	1063	6	broadly	broadly	ADV
cblr-13858	1063	7	phrased	phrase	VERB
cblr-13858	1063	8	,	,	PUNCT
cblr-13858	1063	9	is	be	AUX
cblr-13858	1063	10	whether	whether	SCONJ
cblr-13858	1063	11	the	the	DET
cblr-13858	1063	12	person	person	NOUN
cblr-13858	1063	13	has	have	VERB
cblr-13858	1063	14	"	"	PUNCT
cblr-13858	1063	15	a	a	DET
cblr-13858	1063	16	certain	certain	ADJ
cblr-13858	1063	17	regularity	regularity	NOUN
cblr-13858	1063	18	of	of	ADP
cblr-13858	1063	19	participation	participation	NOUN
cblr-13858	1063	20	in	in	ADP
cblr-13858	1063	21	securities	security	NOUN
cblr-13858	1063	22	transactions	transaction	NOUN
cblr-13858	1063	23	at	at	ADP
cblr-13858	1063	24	key	key	ADJ
cblr-13858	1063	25	points	point	NOUN
cblr-13858	1063	26	in	in	ADP
cblr-13858	1063	27	the	the	DET
cblr-13858	1063	28	chain	chain	NOUN
cblr-13858	1063	29	of	of	ADP
cblr-13858	1063	30	distribution	distribution	NOUN
cblr-13858	1063	31	.	.	PUNCT
cblr-13858	1064	1	"26	"26	X
cblr-13858	1064	2	7	7	NUM
cblr-13858	1065	1	it	it	PRON
cblr-13858	1065	2	does	do	AUX
cblr-13858	1065	3	not	not	PART
cblr-13858	1065	4	matter	matter	VERB
cblr-13858	1065	5	how	how	SCONJ
cblr-13858	1065	6	the	the	DET
cblr-13858	1065	7	site	site	NOUN
cblr-13858	1065	8	and	and	CCONJ
cblr-13858	1065	9	its	its	PRON
cblr-13858	1065	10	users	user	NOUN
cblr-13858	1065	11	characterize	characterize	VERB
cblr-13858	1065	12	the	the	DET
cblr-13858	1065	13	site	site	NOUN
cblr-13858	1065	14	's	's	PART
cblr-13858	1065	15	services	service	NOUN
cblr-13858	1065	16	.	.	PUNCT
cblr-13858	1066	1	one	one	PRON
cblr-13858	1066	2	can	can	AUX
cblr-13858	1066	3	not	not	PART
cblr-13858	1066	4	avoid	avoid	VERB
cblr-13858	1066	5	being	be	AUX
cblr-13858	1066	6	a	a	DET
cblr-13858	1066	7	broker	broker	NOUN
cblr-13858	1066	8	by	by	ADP
cblr-13858	1066	9	"	"	PUNCT
cblr-13858	1066	10	describing	describe	VERB
cblr-13858	1066	11	the	the	DET
cblr-13858	1066	12	work	work	NOUN
cblr-13858	1066	13	.	.	PUNCT
cblr-13858	1066	14	.	.	PUNCT
cblr-13858	1066	15	.	.	PUNCT
cblr-13858	1067	1	in	in	ADP
cblr-13858	1067	2	terms	term	NOUN
cblr-13858	1067	3	which	which	PRON
cblr-13858	1067	4	suggest	suggest	VERB
cblr-13858	1067	5	a	a	DET
cblr-13858	1067	6	nonbroker	nonbroker	NOUN
cblr-13858	1067	7	-	-	PUNCT
cblr-13858	1067	8	client	client	NOUN
cblr-13858	1067	9	relationship	relationship	NOUN
cblr-13858	1067	10	.	.	PUNCT
cblr-13858	1068	1	"268	"268	PROPN
cblr-13858	1068	2	therefore	therefore	ADV
cblr-13858	1068	3	,	,	PUNCT
cblr-13858	1068	4	statements	statement	NOUN
cblr-13858	1068	5	such	such	ADJ
cblr-13858	1068	6	as	as	ADP
cblr-13858	1068	7	that	that	PRON
cblr-13858	1068	8	on	on	ADP
cblr-13858	1068	9	profounder	profounder	NOUN
cblr-13858	1068	10	's	's	PART
cblr-13858	1068	11	web	web	NOUN
cblr-13858	1068	12	site	site	NOUN
cblr-13858	1068	13	that	that	SCONJ
cblr-13858	1068	14	it	it	PRON
cblr-13858	1068	15	"	"	PUNCT
cblr-13858	1068	16	is	be	AUX
cblr-13858	1068	17	not	not	PART
cblr-13858	1068	18	a	a	DET
cblr-13858	1068	19	broker	broker	NOUN
cblr-13858	1068	20	,	,	PUNCT
cblr-13858	1068	21	dealer	dealer	NOUN
cblr-13858	1068	22	or	or	CCONJ
cblr-13858	1068	23	underwriter	underwriter	NOUN
cblr-13858	1068	24	of	of	ADP
cblr-13858	1068	25	securities	security	NOUN
cblr-13858	1068	26	"	"	PUNCT
cblr-13858	1068	27	269	269	NUM
cblr-13858	1068	28	have	have	VERB
cblr-13858	1068	29	no	no	DET
cblr-13858	1068	30	effect	effect	NOUN
cblr-13858	1068	31	.	.	PUNCT
cblr-13858	1069	1	265	265	NUM
cblr-13858	1069	2	guide	guide	NOUN
cblr-13858	1069	3	to	to	ADP
cblr-13858	1069	4	broker	broker	NOUN
cblr-13858	1069	5	-	-	PUNCT
cblr-13858	1069	6	dealer	dealer	NOUN
cblr-13858	1069	7	registration	registration	NOUN
cblr-13858	1069	8	,	,	PUNCT
cblr-13858	1069	9	sec	sec	PROPN
cblr-13858	1069	10	(	(	PUNCT
cblr-13858	1069	11	apr	apr	PROPN
cblr-13858	1069	12	.	.	PROPN
cblr-13858	1069	13	2008	2008	NUM
cblr-13858	1069	14	)	)	PUNCT
cblr-13858	1069	15	,	,	PUNCT
cblr-13858	1069	16	http://www.sec.gov/divisions/marketreg/bdguide.htm	http://www.sec.gov/divisions/marketreg/bdguide.htm	PROPN
cblr-13858	1070	1	[	[	X
cblr-13858	1070	2	hereinafter	hereinafter	NOUN
cblr-13858	1070	3	guide	guide	NOUN
cblr-13858	1070	4	to	to	ADP
cblr-13858	1070	5	registration	registration	NOUN
cblr-13858	1070	6	]	]	PUNCT
cblr-13858	1070	7	.	.	PUNCT
cblr-13858	1071	1	266	266	NUM
cblr-13858	1071	2	poser	poser	NOUN
cblr-13858	1071	3	&	&	CCONJ
cblr-13858	1071	4	fanto	fanto	PROPN
cblr-13858	1071	5	,	,	PUNCT
cblr-13858	1071	6	supra	supra	PROPN
cblr-13858	1071	7	note	note	PROPN
cblr-13858	1071	8	254	254	NUM
cblr-13858	1071	9	,	,	PUNCT
cblr-13858	1071	10	at	at	ADP
cblr-13858	1071	11	5	5	NUM
cblr-13858	1071	12	-	-	SYM
cblr-13858	1071	13	14	14	NUM
cblr-13858	1071	14	.	.	PUNCT
cblr-13858	1072	1	see	see	VERB
cblr-13858	1072	2	also	also	ADV
cblr-13858	1072	3	howard	howard	PROPN
cblr-13858	1072	4	m.	m.	PROPN
cblr-13858	1072	5	friedman	friedman	PROPN
cblr-13858	1072	6	,	,	PUNCT
cblr-13858	1072	7	securities	security	NOUN
cblr-13858	1072	8	regulation	regulation	NOUN
cblr-13858	1072	9	in	in	ADP
cblr-13858	1072	10	cyberspace	cyberspace	NOUN
cblr-13858	1072	11	16	16	NUM
cblr-13858	1072	12	-	-	SYM
cblr-13858	1072	13	5	5	NUM
cblr-13858	1072	14	(	(	PUNCT
cblr-13858	1072	15	3d	3d	NUM
cblr-13858	1072	16	ed	ed	NOUN
cblr-13858	1072	17	.	.	PROPN
cblr-13858	1072	18	2005	2005	NUM
cblr-13858	1072	19	)	)	PUNCT
cblr-13858	1073	1	[	[	X
cblr-13858	1073	2	hereinafter	hereinafter	NOUN
cblr-13858	1073	3	friedman	friedman	NOUN
cblr-13858	1073	4	,	,	PUNCT
cblr-13858	1073	5	securities	security	NOUN
cblr-13858	1073	6	regulation	regulation	NOUN
cblr-13858	1073	7	]	]	PUNCT
cblr-13858	1073	8	.	.	PUNCT
cblr-13858	1073	9	267	267	NUM
cblr-13858	1073	10	mass	mass	NOUN
cblr-13858	1073	11	.	.	PUNCT
cblr-13858	1074	1	fin	fin	NOUN
cblr-13858	1074	2	.	.	PUNCT
cblr-13858	1075	1	servs	servs	PROPN
cblr-13858	1075	2	.	.	PROPN
cblr-13858	1075	3	,	,	PUNCT
cblr-13858	1075	4	inc	inc	PROPN
cblr-13858	1075	5	.	.	PROPN
cblr-13858	1075	6	v.	v.	PROPN
cblr-13858	1075	7	sec	sec	PROPN
cblr-13858	1075	8	.	.	PUNCT
cblr-13858	1075	9	investor	investor	PROPN
cblr-13858	1075	10	protection	protection	PROPN
cblr-13858	1075	11	corp	corp	PROPN
cblr-13858	1075	12	.	.	PROPN
cblr-13858	1075	13	,	,	PUNCT
cblr-13858	1075	14	411	411	NUM
cblr-13858	1075	15	f.	f.	PROPN
cblr-13858	1075	16	supp	supp	PROPN
cblr-13858	1075	17	.	.	PUNCT
cblr-13858	1076	1	411	411	NUM
cblr-13858	1076	2	,	,	PUNCT
cblr-13858	1076	3	415	415	NUM
cblr-13858	1076	4	(	(	PUNCT
cblr-13858	1076	5	d.	d.	PROPN
cblr-13858	1076	6	mass	mass	PROPN
cblr-13858	1076	7	.	.	PUNCT
cblr-13858	1076	8	)	)	PUNCT
cblr-13858	1076	9	,	,	PUNCT
cblr-13858	1076	10	affd	affd	PROPN
cblr-13858	1076	11	,	,	PUNCT
cblr-13858	1076	12	545	545	NUM
cblr-13858	1076	13	f.2d	f.2d	NUM
cblr-13858	1076	14	754	754	NUM
cblr-13858	1076	15	(	(	PUNCT
cblr-13858	1076	16	1st	1st	ADJ
cblr-13858	1076	17	cir	cir	NOUN
cblr-13858	1076	18	.	.	PUNCT
cblr-13858	1076	19	1976	1976	NUM
cblr-13858	1076	20	)	)	PUNCT
cblr-13858	1076	21	;	;	PUNCT
cblr-13858	1076	22	accord	accord	NOUN
cblr-13858	1076	23	sec	sec	PROPN
cblr-13858	1076	24	v.	v.	PROPN
cblr-13858	1076	25	martino	martino	PROPN
cblr-13858	1076	26	,	,	PUNCT
cblr-13858	1076	27	255	255	NUM
cblr-13858	1076	28	f.	f.	PROPN
cblr-13858	1076	29	supp	supp	PROPN
cblr-13858	1076	30	.	.	PUNCT
cblr-13858	1077	1	2d	2d	PROPN
cblr-13858	1077	2	268	268	NUM
cblr-13858	1077	3	,	,	PUNCT
cblr-13858	1077	4	283	283	NUM
cblr-13858	1077	5	(	(	PUNCT
cblr-13858	1077	6	s.d.n.y	s.d.n.y	PROPN
cblr-13858	1077	7	.	.	PROPN
cblr-13858	1077	8	2003	2003	NUM
cblr-13858	1077	9	)	)	PUNCT
cblr-13858	1077	10	;	;	PUNCT
cblr-13858	1077	11	sec	sec	PROPN
cblr-13858	1077	12	v.	v.	ADP
cblr-13858	1077	13	nat'l	nat'l	PROPN
cblr-13858	1077	14	exec	exec	NOUN
cblr-13858	1077	15	.	.	PUNCT
cblr-13858	1078	1	planners	planner	NOUN
cblr-13858	1078	2	,	,	PUNCT
cblr-13858	1078	3	ltd	ltd	PROPN
cblr-13858	1078	4	.	.	PROPN
cblr-13858	1078	5	,	,	PUNCT
cblr-13858	1078	6	503	503	NUM
cblr-13858	1078	7	f.	f.	PROPN
cblr-13858	1078	8	supp	supp	PROPN
cblr-13858	1078	9	.	.	PUNCT
cblr-13858	1078	10	1066	1066	NUM
cblr-13858	1078	11	,	,	PUNCT
cblr-13858	1078	12	1073	1073	NUM
cblr-13858	1078	13	(	(	PUNCT
cblr-13858	1078	14	m.d.n.c	m.d.n.c	PROPN
cblr-13858	1078	15	.	.	NOUN
cblr-13858	1078	16	1980	1980	NUM
cblr-13858	1078	17	)	)	PUNCT
cblr-13858	1078	18	.	.	PUNCT
cblr-13858	1079	1	268	268	NUM
cblr-13858	1079	2	lipton	lipton	PROPN
cblr-13858	1079	3	,	,	PUNCT
cblr-13858	1079	4	supra	supra	PROPN
cblr-13858	1079	5	note	note	PROPN
cblr-13858	1079	6	253	253	NUM
cblr-13858	1079	7	,	,	PUNCT
cblr-13858	1079	8	at	at	ADP
cblr-13858	1079	9	1	1	NUM
cblr-13858	1079	10	-	-	SYM
cblr-13858	1079	11	51	51	NUM
cblr-13858	1079	12	.	.	PUNCT
cblr-13858	1080	1	see	see	VERB
cblr-13858	1080	2	also	also	ADV
cblr-13858	1080	3	martino	martino	PROPN
cblr-13858	1080	4	,	,	PUNCT
cblr-13858	1080	5	255	255	NUM
cblr-13858	1080	6	f.	f.	PROPN
cblr-13858	1080	7	supp	supp	PROPN
cblr-13858	1080	8	.	.	PUNCT
cblr-13858	1081	1	2d	2d	PROPN
cblr-13858	1081	2	at	at	ADP
cblr-13858	1081	3	284	284	NUM
cblr-13858	1081	4	(	(	PUNCT
cblr-13858	1081	5	finding	find	VERB
cblr-13858	1081	6	a	a	DET
cblr-13858	1081	7	broker	broker	NOUN
cblr-13858	1081	8	even	even	ADV
cblr-13858	1081	9	though	though	SCONJ
cblr-13858	1081	10	the	the	DET
cblr-13858	1081	11	written	write	VERB
cblr-13858	1081	12	agreements	agreement	NOUN
cblr-13858	1081	13	described	describe	VERB
cblr-13858	1081	14	the	the	DET
cblr-13858	1081	15	work	work	NOUN
cblr-13858	1081	16	as	as	ADP
cblr-13858	1081	17	"	"	PUNCT
cblr-13858	1081	18	consulting	consulting	NOUN
cblr-13858	1081	19	services	service	NOUN
cblr-13858	1081	20	"	"	PUNCT
cblr-13858	1081	21	)	)	PUNCT
cblr-13858	1081	22	.	.	PUNCT
cblr-13858	1082	1	269	269	NUM
cblr-13858	1082	2	profounder	profounder	NOUN
cblr-13858	1082	3	terms	term	NOUN
cblr-13858	1082	4	and	and	CCONJ
cblr-13858	1082	5	conditions	condition	NOUN
cblr-13858	1082	6	for	for	ADP
cblr-13858	1082	7	services	service	NOUN
cblr-13858	1082	8	,	,	PUNCT
cblr-13858	1082	9	profounder	profounder	NOUN
cblr-13858	1082	10	,	,	PUNCT
cblr-13858	1082	11	supra	supra	PROPN
cblr-13858	1082	12	note	note	NOUN
cblr-13858	1082	13	112	112	NUM
cblr-13858	1082	14	.	.	PUNCT
cblr-13858	1083	1	col	col	PROPN
cblr-13858	1083	2	umia	umia	PROPN
cblr-13858	1083	3	b	b	PROPN
cblr-13858	1083	4	usiness	usiness	PROPN
cblr-13858	1083	5	la	la	PROPN
cblr-13858	1083	6	w	w	PROPN
cblr-13858	1083	7	re	re	PROPN
cblr-13858	1083	8	vie	vie	PROPN
cblr-13858	1083	9	w	w	PROPN
cblr-13858	1084	1	[	[	X
cblr-13858	1084	2	vol	vol	NOUN
cblr-13858	1084	3	.	.	PUNCT
cblr-13858	1084	4	201254	201254	NUM
cblr-13858	1084	5	the	the	DET
cblr-13858	1084	6	sec	sec	PROPN
cblr-13858	1084	7	has	have	AUX
cblr-13858	1084	8	cautioned	caution	VERB
cblr-13858	1084	9	that	that	SCONJ
cblr-13858	1084	10	the	the	DET
cblr-13858	1084	11	operators	operator	NOUN
cblr-13858	1084	12	of	of	ADP
cblr-13858	1084	13	web	web	NOUN
cblr-13858	1084	14	sites	site	NOUN
cblr-13858	1084	15	that	that	PRON
cblr-13858	1084	16	match	match	VERB
cblr-13858	1084	17	investors	investor	NOUN
cblr-13858	1084	18	with	with	ADP
cblr-13858	1084	19	issuers	issuer	NOUN
cblr-13858	1084	20	need	need	VERB
cblr-13858	1084	21	to	to	PART
cblr-13858	1084	22	consider	consider	VERB
cblr-13858	1084	23	registration	registration	NOUN
cblr-13858	1084	24	as	as	ADP
cblr-13858	1084	25	brokers	broker	NOUN
cblr-13858	1084	26	when	when	SCONJ
cblr-13858	1084	27	those	those	DET
cblr-13858	1084	28	sites	site	NOUN
cblr-13858	1084	29	are	be	AUX
cblr-13858	1084	30	not	not	PART
cblr-13858	1084	31	affiliated	affiliate	VERB
cblr-13858	1084	32	with	with	ADP
cblr-13858	1084	33	registered	register	VERB
cblr-13858	1084	34	broker	broker	NOUN
cblr-13858	1084	35	-	-	PUNCT
cblr-13858	1084	36	dealers	dealer	NOUN
cblr-13858	1084	37	.	.	PUNCT
cblr-13858	1085	1	27	27	NUM
cblr-13858	1085	2	0	0	NUM
cblr-13858	1085	3	additionally	additionally	ADV
cblr-13858	1085	4	,	,	PUNCT
cblr-13858	1085	5	a	a	DET
cblr-13858	1085	6	guide	guide	NOUN
cblr-13858	1085	7	released	release	VERB
cblr-13858	1085	8	by	by	ADP
cblr-13858	1085	9	the	the	DET
cblr-13858	1085	10	sec	sec	PROPN
cblr-13858	1085	11	's	's	PART
cblr-13858	1085	12	division	division	NOUN
cblr-13858	1085	13	of	of	ADP
cblr-13858	1085	14	trading	trading	NOUN
cblr-13858	1085	15	and	and	CCONJ
cblr-13858	1085	16	markets	market	NOUN
cblr-13858	1085	17	warns	warn	VERB
cblr-13858	1085	18	that	that	SCONJ
cblr-13858	1085	19	anyone	anyone	PRON
cblr-13858	1085	20	finding	find	VERB
cblr-13858	1085	21	investors	investor	NOUN
cblr-13858	1085	22	for	for	ADP
cblr-13858	1085	23	a	a	DET
cblr-13858	1085	24	company	company	NOUN
cblr-13858	1085	25	,	,	PUNCT
cblr-13858	1085	26	including	include	VERB
cblr-13858	1085	27	venture	venture	NOUN
cblr-13858	1085	28	capital	capital	NOUN
cblr-13858	1085	29	,	,	PUNCT
cblr-13858	1085	30	angel	angel	NOUN
cblr-13858	1085	31	financings	financing	NOUN
cblr-13858	1085	32	,	,	PUNCT
cblr-13858	1085	33	and	and	CCONJ
cblr-13858	1085	34	private	private	ADJ
cblr-13858	1085	35	placements	placement	NOUN
cblr-13858	1085	36	,	,	PUNCT
cblr-13858	1085	37	may	may	AUX
cblr-13858	1085	38	need	need	VERB
cblr-13858	1085	39	to	to	PART
cblr-13858	1085	40	register	register	VERB
cblr-13858	1085	41	as	as	ADP
cblr-13858	1085	42	a	a	DET
cblr-13858	1085	43	broker	broker	NOUN
cblr-13858	1085	44	.	.	PUNCT
cblr-13858	1086	1	27	27	NUM
cblr-13858	1086	2	1	1	NUM
cblr-13858	1086	3	the	the	DET
cblr-13858	1086	4	guide	guide	NOUN
cblr-13858	1086	5	poses	pose	VERB
cblr-13858	1086	6	four	four	NUM
cblr-13858	1086	7	questions	question	NOUN
cblr-13858	1086	8	and	and	CCONJ
cblr-13858	1086	9	indicates	indicate	VERB
cblr-13858	1086	10	that	that	SCONJ
cblr-13858	1086	11	a	a	DET
cblr-13858	1086	12	"	"	PUNCT
cblr-13858	1086	13	yes	yes	NOUN
cblr-13858	1086	14	"	"	PUNCT
cblr-13858	1086	15	answer	answer	NOUN
cblr-13858	1086	16	to	to	ADP
cblr-13858	1086	17	any	any	PRON
cblr-13858	1086	18	of	of	ADP
cblr-13858	1086	19	the	the	DET
cblr-13858	1086	20	four	four	NUM
cblr-13858	1086	21	questions	question	NOUN
cblr-13858	1086	22	may	may	AUX
cblr-13858	1086	23	indicate	indicate	VERB
cblr-13858	1086	24	a	a	DET
cblr-13858	1086	25	need	need	NOUN
cblr-13858	1086	26	to	to	PART
cblr-13858	1086	27	register	register	VERB
cblr-13858	1086	28	.	.	PUNCT
cblr-13858	1087	1	the	the	DET
cblr-13858	1087	2	questions	question	NOUN
cblr-13858	1087	3	are	be	AUX
cblr-13858	1087	4	:	:	PUNCT
cblr-13858	1087	5	(	(	PUNCT
cblr-13858	1087	6	1	1	X
cblr-13858	1087	7	)	)	PUNCT
cblr-13858	1087	8	"	"	PUNCT
cblr-13858	1087	9	do	do	AUX
cblr-13858	1087	10	you	you	PRON
cblr-13858	1087	11	participate	participate	VERB
cblr-13858	1087	12	in	in	ADP
cblr-13858	1087	13	important	important	ADJ
cblr-13858	1087	14	parts	part	NOUN
cblr-13858	1087	15	of	of	ADP
cblr-13858	1087	16	a	a	DET
cblr-13858	1087	17	securities	security	NOUN
cblr-13858	1087	18	transaction	transaction	NOUN
cblr-13858	1087	19	,	,	PUNCT
cblr-13858	1087	20	including	include	VERB
cblr-13858	1087	21	solicitation	solicitation	NOUN
cblr-13858	1087	22	,	,	PUNCT
cblr-13858	1087	23	negotiation	negotiation	NOUN
cblr-13858	1087	24	,	,	PUNCT
cblr-13858	1087	25	or	or	CCONJ
cblr-13858	1087	26	execution	execution	NOUN
cblr-13858	1087	27	of	of	ADP
cblr-13858	1087	28	the	the	DET
cblr-13858	1087	29	transaction	transaction	NOUN
cblr-13858	1087	30	?	?	PUNCT
cblr-13858	1087	31	"	"	PUNCT
cblr-13858	1088	1	(	(	PUNCT
cblr-13858	1088	2	2	2	X
cblr-13858	1088	3	)	)	PUNCT
cblr-13858	1088	4	"	"	PUNCT
cblr-13858	1088	5	does	do	AUX
cblr-13858	1088	6	your	your	PRON
cblr-13858	1088	7	compensation	compensation	NOUN
cblr-13858	1088	8	for	for	ADP
cblr-13858	1088	9	participation	participation	NOUN
cblr-13858	1088	10	in	in	ADP
cblr-13858	1088	11	the	the	DET
cblr-13858	1088	12	transaction	transaction	NOUN
cblr-13858	1088	13	depend	depend	VERB
cblr-13858	1088	14	upon	upon	SCONJ
cblr-13858	1088	15	,	,	PUNCT
cblr-13858	1088	16	or	or	CCONJ
cblr-13858	1088	17	is	be	AUX
cblr-13858	1088	18	it	it	PRON
cblr-13858	1088	19	related	related	ADJ
cblr-13858	1088	20	to	to	ADP
cblr-13858	1088	21	,	,	PUNCT
cblr-13858	1088	22	the	the	DET
cblr-13858	1088	23	outcome	outcome	NOUN
cblr-13858	1088	24	or	or	CCONJ
cblr-13858	1088	25	size	size	NOUN
cblr-13858	1088	26	of	of	ADP
cblr-13858	1088	27	the	the	DET
cblr-13858	1088	28	transaction	transaction	NOUN
cblr-13858	1088	29	or	or	CCONJ
cblr-13858	1088	30	deal	deal	NOUN
cblr-13858	1088	31	?	?	PUNCT
cblr-13858	1088	32	.	.	PUNCT
cblr-13858	1088	33	.	.	PUNCT
cblr-13858	1089	1	.	.	PUNCT
cblr-13858	1090	1	do	do	AUX
cblr-13858	1090	2	you	you	PRON
cblr-13858	1090	3	receive	receive	VERB
cblr-13858	1090	4	any	any	DET
cblr-13858	1090	5	other	other	ADJ
cblr-13858	1090	6	transaction	transaction	NOUN
cblr-13858	1090	7	-	-	PUNCT
cblr-13858	1090	8	related	relate	VERB
cblr-13858	1090	9	compensation	compensation	NOUN
cblr-13858	1090	10	?	?	PUNCT
cblr-13858	1090	11	"	"	PUNCT
cblr-13858	1091	1	(	(	PUNCT
cblr-13858	1091	2	3	3	X
cblr-13858	1091	3	)	)	PUNCT
cblr-13858	1091	4	"	"	PUNCT
cblr-13858	1091	5	are	be	AUX
cblr-13858	1091	6	you	you	PRON
cblr-13858	1091	7	otherwise	otherwise	ADV
cblr-13858	1091	8	engaged	engage	VERB
cblr-13858	1091	9	in	in	ADP
cblr-13858	1091	10	the	the	DET
cblr-13858	1091	11	business	business	NOUN
cblr-13858	1091	12	of	of	ADP
cblr-13858	1091	13	effecting	effect	VERB
cblr-13858	1091	14	or	or	CCONJ
cblr-13858	1091	15	facilitating	facilitate	VERB
cblr-13858	1091	16	securities	security	NOUN
cblr-13858	1091	17	transactions	transaction	NOUN
cblr-13858	1091	18	?	?	PUNCT
cblr-13858	1091	19	"	"	PUNCT
cblr-13858	1092	1	(	(	PUNCT
cblr-13858	1092	2	4	4	X
cblr-13858	1092	3	)	)	PUNCT
cblr-13858	1092	4	"	"	PUNCT
cblr-13858	1092	5	do	do	AUX
cblr-13858	1092	6	you	you	PRON
cblr-13858	1092	7	handle	handle	VERB
cblr-13858	1092	8	the	the	DET
cblr-13858	1092	9	securities	security	NOUN
cblr-13858	1092	10	or	or	CCONJ
cblr-13858	1092	11	funds	fund	NOUN
cblr-13858	1092	12	of	of	ADP
cblr-13858	1092	13	others	other	NOUN
cblr-13858	1092	14	in	in	ADP
cblr-13858	1092	15	connection	connection	NOUN
cblr-13858	1092	16	with	with	ADP
cblr-13858	1092	17	securities	security	NOUN
cblr-13858	1092	18	transactions	transaction	NOUN
cblr-13858	1092	19	?	?	PUNCT
cblr-13858	1092	20	"	"	PUNCT
cblr-13858	1093	1	27	27	NUM
cblr-13858	1093	2	2	2	NUM
cblr-13858	1093	3	more	more	ADJ
cblr-13858	1093	4	specific	specific	ADJ
cblr-13858	1093	5	guidance	guidance	NOUN
cblr-13858	1093	6	comes	come	VERB
cblr-13858	1093	7	from	from	ADP
cblr-13858	1093	8	a	a	DET
cblr-13858	1093	9	series	series	NOUN
cblr-13858	1093	10	of	of	ADP
cblr-13858	1093	11	no	no	DET
cblr-13858	1093	12	-	-	PUNCT
cblr-13858	1093	13	action	action	NOUN
cblr-13858	1093	14	letters	letter	NOUN
cblr-13858	1093	15	involving	involve	VERB
cblr-13858	1093	16	internetor	internetor	NOUN
cblr-13858	1093	17	computer	computer	NOUN
cblr-13858	1093	18	-	-	PUNCT
cblr-13858	1093	19	based	base	VERB
cblr-13858	1093	20	matching	matching	NOUN
cblr-13858	1093	21	services	service	NOUN
cblr-13858	1093	22	that	that	PRON
cblr-13858	1093	23	connect	connect	VERB
cblr-13858	1093	24	entrepreneurs	entrepreneur	NOUN
cblr-13858	1093	25	seeking	seek	VERB
cblr-13858	1093	26	funds	fund	NOUN
cblr-13858	1093	27	with	with	ADP
cblr-13858	1093	28	potential	potential	ADJ
cblr-13858	1093	29	investors.27	investors.27	NOUN
cblr-13858	1093	30	3	3	NUM
cblr-13858	1093	31	the	the	DET
cblr-13858	1093	32	services	service	NOUN
cblr-13858	1093	33	granted	grant	VERB
cblr-13858	1093	34	relief	relief	NOUN
cblr-13858	1093	35	in	in	ADP
cblr-13858	1093	36	those	those	DET
cblr-13858	1093	37	letters	letter	NOUN
cblr-13858	1093	38	share	share	VERB
cblr-13858	1093	39	a	a	DET
cblr-13858	1093	40	number	number	NOUN
cblr-13858	1093	41	of	of	ADP
cblr-13858	1093	42	important	important	ADJ
cblr-13858	1093	43	features	feature	NOUN
cblr-13858	1093	44	:	:	PUNCT
cblr-13858	1093	45	270	270	NUM
cblr-13858	1093	46	use	use	NOUN
cblr-13858	1093	47	of	of	ADP
cblr-13858	1093	48	electronic	electronic	ADJ
cblr-13858	1093	49	media	medium	NOUN
cblr-13858	1093	50	,	,	PUNCT
cblr-13858	1093	51	securities	security	NOUN
cblr-13858	1093	52	act	act	NOUN
cblr-13858	1093	53	release	release	VERB
cblr-13858	1093	54	no	no	NOUN
cblr-13858	1093	55	.	.	NOUN
cblr-13858	1094	1	33	33	NUM
cblr-13858	1094	2	-	-	SYM
cblr-13858	1094	3	7856	7856	NUM
cblr-13858	1094	4	,	,	PUNCT
cblr-13858	1094	5	2000	2000	NUM
cblr-13858	1094	6	wl	wl	NOUN
cblr-13858	1094	7	502290	502290	NUM
cblr-13858	1094	8	,	,	PUNCT
cblr-13858	1094	9	at	at	ADP
cblr-13858	1094	10	*	*	PROPN
cblr-13858	1094	11	12	12	NUM
cblr-13858	1094	12	-	-	SYM
cblr-13858	1094	13	13	13	NUM
cblr-13858	1094	14	(	(	PUNCT
cblr-13858	1094	15	apr	apr	PROPN
cblr-13858	1094	16	.	.	PROPN
cblr-13858	1094	17	28	28	NUM
cblr-13858	1094	18	,	,	PUNCT
cblr-13858	1094	19	2000	2000	NUM
cblr-13858	1094	20	)	)	PUNCT
cblr-13858	1094	21	.	.	PUNCT
cblr-13858	1095	1	271	271	NUM
cblr-13858	1095	2	guide	guide	NOUN
cblr-13858	1095	3	to	to	ADP
cblr-13858	1095	4	registration	registration	NOUN
cblr-13858	1095	5	,	,	PUNCT
cblr-13858	1095	6	supra	supra	PROPN
cblr-13858	1095	7	note	note	NOUN
cblr-13858	1095	8	265	265	NUM
cblr-13858	1095	9	.	.	PUNCT
cblr-13858	1096	1	272	272	NUM
cblr-13858	1097	1	i	i	PRON
cblr-13858	1097	2	d.	d.	PROPN
cblr-13858	1097	3	273	273	NUM
cblr-13858	1097	4	see	see	VERB
cblr-13858	1097	5	angel	angel	NOUN
cblr-13858	1097	6	capital	capital	PROPN
cblr-13858	1097	7	elec	elec	PROPN
cblr-13858	1097	8	.	.	PUNCT
cblr-13858	1098	1	network	network	PROPN
cblr-13858	1098	2	,	,	PUNCT
cblr-13858	1098	3	sec	sec	PROPN
cblr-13858	1098	4	no	no	DET
cblr-13858	1098	5	-	-	PUNCT
cblr-13858	1098	6	action	action	NOUN
cblr-13858	1098	7	letter	letter	NOUN
cblr-13858	1098	8	,	,	PUNCT
cblr-13858	1098	9	1996	1996	NUM
cblr-13858	1098	10	wl	wl	X
cblr-13858	1098	11	636094	636094	NUM
cblr-13858	1098	12	(	(	PUNCT
cblr-13858	1098	13	oct	oct	PROPN
cblr-13858	1098	14	.	.	PROPN
cblr-13858	1098	15	25	25	NUM
cblr-13858	1098	16	,	,	PUNCT
cblr-13858	1098	17	1996	1996	NUM
cblr-13858	1098	18	)	)	PUNCT
cblr-13858	1098	19	;	;	PUNCT
cblr-13858	1098	20	mid	mid	ADJ
cblr-13858	1098	21	-	-	ADJ
cblr-13858	1098	22	atlantic	atlantic	ADJ
cblr-13858	1098	23	inv	inv	NOUN
cblr-13858	1098	24	.	.	PUNCT
cblr-13858	1099	1	network	network	NOUN
cblr-13858	1099	2	,	,	PUNCT
cblr-13858	1099	3	sec	sec	PROPN
cblr-13858	1099	4	no	no	DET
cblr-13858	1099	5	-	-	PUNCT
cblr-13858	1099	6	action	action	NOUN
cblr-13858	1099	7	letter	letter	NOUN
cblr-13858	1099	8	,	,	PUNCT
cblr-13858	1099	9	1993	1993	NUM
cblr-13858	1099	10	wl	wl	NOUN
cblr-13858	1099	11	173768	173768	NUM
cblr-13858	1099	12	(	(	PUNCT
cblr-13858	1099	13	may	may	PROPN
cblr-13858	1099	14	18	18	NUM
cblr-13858	1099	15	,	,	PUNCT
cblr-13858	1099	16	1993	1993	NUM
cblr-13858	1099	17	)	)	PUNCT
cblr-13858	1099	18	;	;	PUNCT
cblr-13858	1099	19	private	private	ADJ
cblr-13858	1099	20	investor	investor	NOUN
cblr-13858	1099	21	network	network	NOUN
cblr-13858	1099	22	,	,	PUNCT
cblr-13858	1099	23	sec	sec	PROPN
cblr-13858	1099	24	noaction	noaction	NOUN
cblr-13858	1099	25	letter	letter	NOUN
cblr-13858	1099	26	,	,	PUNCT
cblr-13858	1099	27	1987	1987	NUM
cblr-13858	1099	28	wl	wl	PROPN
cblr-13858	1099	29	108869	108869	NUM
cblr-13858	1099	30	(	(	PUNCT
cblr-13858	1099	31	nov	nov	PROPN
cblr-13858	1099	32	.	.	PROPN
cblr-13858	1099	33	2	2	NUM
cblr-13858	1099	34	,	,	PUNCT
cblr-13858	1099	35	1987	1987	NUM
cblr-13858	1099	36	)	)	PUNCT
cblr-13858	1099	37	;	;	PUNCT
cblr-13858	1099	38	vcn	vcn	PROPN
cblr-13858	1099	39	of	of	ADP
cblr-13858	1099	40	tex	tex	PROPN
cblr-13858	1099	41	.	.	PROPN
cblr-13858	1099	42	,	,	PUNCT
cblr-13858	1099	43	sec	sec	PROPN
cblr-13858	1099	44	noaction	noaction	NOUN
cblr-13858	1099	45	letter	letter	NOUN
cblr-13858	1099	46	,	,	PUNCT
cblr-13858	1099	47	1987	1987	NUM
cblr-13858	1099	48	wl	wl	PROPN
cblr-13858	1099	49	108250	108250	NUM
cblr-13858	1099	50	(	(	PUNCT
cblr-13858	1099	51	june	june	PROPN
cblr-13858	1099	52	18	18	NUM
cblr-13858	1099	53	,	,	PUNCT
cblr-13858	1099	54	1987	1987	NUM
cblr-13858	1099	55	)	)	PUNCT
cblr-13858	1099	56	;	;	PUNCT
cblr-13858	1099	57	venture	venture	NOUN
cblr-13858	1099	58	match	match	NOUN
cblr-13858	1099	59	of	of	ADP
cblr-13858	1099	60	n.j	n.j	PROPN
cblr-13858	1099	61	.	.	PROPN
cblr-13858	1099	62	,	,	PUNCT
cblr-13858	1099	63	sec	sec	PROPN
cblr-13858	1099	64	no	no	DET
cblr-13858	1099	65	-	-	PUNCT
cblr-13858	1099	66	action	action	NOUN
cblr-13858	1099	67	letter	letter	NOUN
cblr-13858	1099	68	,	,	PUNCT
cblr-13858	1099	69	1987	1987	NUM
cblr-13858	1099	70	wl	wl	PROPN
cblr-13858	1099	71	108917	108917	NUM
cblr-13858	1099	72	(	(	PUNCT
cblr-13858	1099	73	june	june	PROPN
cblr-13858	1099	74	11	11	NUM
cblr-13858	1099	75	,	,	PUNCT
cblr-13858	1099	76	1988	1988	NUM
cblr-13858	1099	77	)	)	PUNCT
cblr-13858	1099	78	;	;	PUNCT
cblr-13858	1099	79	atlanta	atlanta	PROPN
cblr-13858	1099	80	econ	econ	PROPN
cblr-13858	1099	81	.	.	PUNCT
cblr-13858	1100	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1100	2	and	and	CCONJ
cblr-13858	1100	3	securities	security	NOUN
cblr-13858	1100	4	laws	law	NOUN
cblr-13858	1100	5	55	55	NUM
cblr-13858	1101	1	no	no	INTJ
cblr-13858	1101	2	i	i	PRON
cblr-13858	1101	3	:	:	PUNCT
cblr-13858	1101	4	1	1	X
cblr-13858	1101	5	]	]	PUNCT
cblr-13858	1101	6	(	(	PUNCT
cblr-13858	1101	7	1	1	X
cblr-13858	1101	8	)	)	PUNCT
cblr-13858	1101	9	they	they	PRON
cblr-13858	1101	10	were	be	AUX
cblr-13858	1101	11	run	run	VERB
cblr-13858	1101	12	by	by	ADP
cblr-13858	1101	13	non	non	ADJ
cblr-13858	1101	14	-	-	ADJ
cblr-13858	1101	15	profit	profit	ADJ
cblr-13858	1101	16	entities	entity	NOUN
cblr-13858	1101	17	,	,	PUNCT
cblr-13858	1101	18	and	and	CCONJ
cblr-13858	1101	19	any	any	DET
cblr-13858	1101	20	fees	fee	NOUN
cblr-13858	1101	21	collected	collect	VERB
cblr-13858	1101	22	were	be	AUX
cblr-13858	1101	23	used	use	VERB
cblr-13858	1101	24	only	only	ADV
cblr-13858	1101	25	to	to	PART
cblr-13858	1101	26	cover	cover	VERB
cblr-13858	1101	27	administrative	administrative	ADJ
cblr-13858	1101	28	expenses	expense	NOUN
cblr-13858	1101	29	.	.	PUNCT
cblr-13858	1102	1	(	(	PUNCT
cblr-13858	1102	2	2	2	X
cblr-13858	1102	3	)	)	PUNCT
cblr-13858	1102	4	fees	fee	NOUN
cblr-13858	1102	5	did	do	AUX
cblr-13858	1102	6	not	not	PART
cblr-13858	1102	7	depend	depend	VERB
cblr-13858	1102	8	on	on	ADP
cblr-13858	1102	9	whether	whether	SCONJ
cblr-13858	1102	10	a	a	DET
cblr-13858	1102	11	successful	successful	ADJ
cblr-13858	1102	12	match	match	NOUN
cblr-13858	1102	13	occurred	occur	VERB
cblr-13858	1102	14	or	or	CCONJ
cblr-13858	1102	15	whether	whether	SCONJ
cblr-13858	1102	16	the	the	DET
cblr-13858	1102	17	entrepreneur	entrepreneur	NOUN
cblr-13858	1102	18	raised	raise	VERB
cblr-13858	1102	19	the	the	DET
cblr-13858	1102	20	desired	desire	VERB
cblr-13858	1102	21	funds	fund	NOUN
cblr-13858	1102	22	.	.	PUNCT
cblr-13858	1103	1	(	(	PUNCT
cblr-13858	1103	2	3	3	X
cblr-13858	1103	3	)	)	PUNCT
cblr-13858	1103	4	the	the	DET
cblr-13858	1103	5	matching	matching	NOUN
cblr-13858	1103	6	site	site	NOUN
cblr-13858	1103	7	's	's	PART
cblr-13858	1103	8	role	role	NOUN
cblr-13858	1103	9	was	be	AUX
cblr-13858	1103	10	essentially	essentially	ADV
cblr-13858	1103	11	completed	complete	VERB
cblr-13858	1103	12	when	when	SCONJ
cblr-13858	1103	13	the	the	DET
cblr-13858	1103	14	entrepreneur	entrepreneur	NOUN
cblr-13858	1103	15	and	and	CCONJ
cblr-13858	1103	16	the	the	DET
cblr-13858	1103	17	investor	investor	NOUN
cblr-13858	1103	18	were	be	AUX
cblr-13858	1103	19	introduced	introduce	VERB
cblr-13858	1103	20	.	.	PUNCT
cblr-13858	1104	1	from	from	ADP
cblr-13858	1104	2	that	that	DET
cblr-13858	1104	3	point	point	NOUN
cblr-13858	1104	4	forward	forward	ADV
cblr-13858	1104	5	,	,	PUNCT
cblr-13858	1104	6	everything	everything	PRON
cblr-13858	1104	7	occurred	occur	VERB
cblr-13858	1104	8	off	off	ADP
cblr-13858	1104	9	-	-	PUNCT
cblr-13858	1104	10	site	site	NOUN
cblr-13858	1104	11	.	.	PUNCT
cblr-13858	1105	1	(	(	PUNCT
cblr-13858	1105	2	4	4	X
cblr-13858	1105	3	)	)	PUNCT
cblr-13858	1105	4	the	the	DET
cblr-13858	1105	5	matching	matching	NOUN
cblr-13858	1105	6	service	service	NOUN
cblr-13858	1105	7	was	be	AUX
cblr-13858	1105	8	not	not	PART
cblr-13858	1105	9	involved	involve	VERB
cblr-13858	1105	10	in	in	ADP
cblr-13858	1105	11	negotiating	negotiate	VERB
cblr-13858	1105	12	or	or	CCONJ
cblr-13858	1105	13	closing	close	VERB
cblr-13858	1105	14	any	any	DET
cblr-13858	1105	15	transactions	transaction	NOUN
cblr-13858	1105	16	between	between	ADP
cblr-13858	1105	17	the	the	DET
cblr-13858	1105	18	entrepreneur	entrepreneur	NOUN
cblr-13858	1105	19	and	and	CCONJ
cblr-13858	1105	20	investors	investor	NOUN
cblr-13858	1105	21	.	.	PUNCT
cblr-13858	1106	1	(	(	PUNCT
cblr-13858	1106	2	5	5	X
cblr-13858	1106	3	)	)	PUNCT
cblr-13858	1106	4	the	the	DET
cblr-13858	1106	5	matching	matching	NOUN
cblr-13858	1106	6	service	service	NOUN
cblr-13858	1106	7	did	do	AUX
cblr-13858	1106	8	not	not	PART
cblr-13858	1106	9	handle	handle	VERB
cblr-13858	1106	10	any	any	DET
cblr-13858	1106	11	funds	fund	NOUN
cblr-13858	1106	12	or	or	CCONJ
cblr-13858	1106	13	securities	security	NOUN
cblr-13858	1106	14	in	in	ADP
cblr-13858	1106	15	connection	connection	NOUN
cblr-13858	1106	16	with	with	ADP
cblr-13858	1106	17	the	the	DET
cblr-13858	1106	18	financing	financing	NOUN
cblr-13858	1106	19	.	.	PUNCT
cblr-13858	1107	1	(	(	PUNCT
cblr-13858	1107	2	6	6	X
cblr-13858	1107	3	)	)	PUNCT
cblr-13858	1107	4	the	the	DET
cblr-13858	1107	5	matching	matching	NOUN
cblr-13858	1107	6	service	service	NOUN
cblr-13858	1107	7	provided	provide	VERB
cblr-13858	1107	8	no	no	DET
cblr-13858	1107	9	advice	advice	NOUN
cblr-13858	1107	10	to	to	ADP
cblr-13858	1107	11	either	either	CCONJ
cblr-13858	1107	12	entrepreneurs	entrepreneur	NOUN
cblr-13858	1107	13	or	or	CCONJ
cblr-13858	1107	14	investors	investor	NOUN
cblr-13858	1107	15	and	and	CCONJ
cblr-13858	1107	16	did	do	AUX
cblr-13858	1107	17	not	not	PART
cblr-13858	1107	18	assist	assist	VERB
cblr-13858	1107	19	them	they	PRON
cblr-13858	1107	20	in	in	ADP
cblr-13858	1107	21	completing	complete	VERB
cblr-13858	1107	22	the	the	DET
cblr-13858	1107	23	financing	financing	NOUN
cblr-13858	1107	24	.	.	PUNCT
cblr-13858	1108	1	b.	b.	PROPN
cblr-13858	1108	2	transaction	transaction	NOUN
cblr-13858	1108	3	-	-	PUNCT
cblr-13858	1108	4	based	base	VERB
cblr-13858	1108	5	compensation	compensation	NOUN
cblr-13858	1108	6	unlike	unlike	ADP
cblr-13858	1108	7	the	the	DET
cblr-13858	1108	8	matching	matching	NOUN
cblr-13858	1108	9	services	service	NOUN
cblr-13858	1108	10	in	in	ADP
cblr-13858	1108	11	the	the	DET
cblr-13858	1108	12	no	no	DET
cblr-13858	1108	13	-	-	PUNCT
cblr-13858	1108	14	action	action	NOUN
cblr-13858	1108	15	letters	letter	NOUN
cblr-13858	1108	16	,	,	PUNCT
cblr-13858	1108	17	many	many	ADJ
cblr-13858	1108	18	of	of	ADP
cblr-13858	1108	19	the	the	DET
cblr-13858	1108	20	crowdfunding	crowdfunding	NOUN
cblr-13858	1108	21	sites	site	NOUN
cblr-13858	1108	22	charge	charge	VERB
cblr-13858	1108	23	fees	fee	NOUN
cblr-13858	1108	24	that	that	PRON
cblr-13858	1108	25	depend	depend	VERB
cblr-13858	1108	26	on	on	ADP
cblr-13858	1108	27	whether	whether	SCONJ
cblr-13858	1108	28	the	the	DET
cblr-13858	1108	29	financing	financing	NOUN
cblr-13858	1108	30	is	be	AUX
cblr-13858	1108	31	successful	successful	ADJ
cblr-13858	1108	32	.	.	PUNCT
cblr-13858	1109	1	274	274	NUM
cblr-13858	1109	2	kickstarter	kickstarter	NOUN
cblr-13858	1109	3	's	's	PART
cblr-13858	1109	4	fee	fee	NOUN
cblr-13858	1109	5	is	be	AUX
cblr-13858	1109	6	5	5	NUM
cblr-13858	1109	7	%	%	NOUN
cblr-13858	1109	8	of	of	ADP
cblr-13858	1109	9	the	the	DET
cblr-13858	1109	10	funds	fund	NOUN
cblr-13858	1109	11	raised	raise	VERB
cblr-13858	1109	12	;	;	PUNCT
cblr-13858	1109	13	however	however	ADV
cblr-13858	1109	14	,	,	PUNCT
cblr-13858	1109	15	if	if	SCONJ
cblr-13858	1109	16	the	the	DET
cblr-13858	1109	17	fundraising	fundraising	NOUN
cblr-13858	1109	18	is	be	AUX
cblr-13858	1109	19	unsuccessful	unsuccessful	ADJ
cblr-13858	1109	20	,	,	PUNCT
cblr-13858	1109	21	entrepreneurs	entrepreneur	NOUN
cblr-13858	1109	22	pay	pay	VERB
cblr-13858	1109	23	no	no	DET
cblr-13858	1109	24	fee	fee	NOUN
cblr-13858	1109	25	.	.	PUNCT
cblr-13858	1109	26	"	"	PUNCT
cblr-13858	1109	27	'	'	PUNCT
cblr-13858	1109	28	indiegogo	indiegogo	NOUN
cblr-13858	1109	29	takes	take	VERB
cblr-13858	1109	30	4	4	NUM
cblr-13858	1109	31	%	%	NOUN
cblr-13858	1109	32	or	or	CCONJ
cblr-13858	1109	33	9	9	NUM
cblr-13858	1109	34	%	%	NOUN
cblr-13858	1109	35	of	of	ADP
cblr-13858	1109	36	the	the	DET
cblr-13858	1109	37	funds	fund	NOUN
cblr-13858	1109	38	raised	raise	VERB
cblr-13858	1109	39	,	,	PUNCT
cblr-13858	1109	40	depending	depend	VERB
cblr-13858	1109	41	on	on	ADP
cblr-13858	1109	42	whether	whether	SCONJ
cblr-13858	1109	43	the	the	DET
cblr-13858	1109	44	entrepreneur	entrepreneur	NOUN
cblr-13858	1109	45	meets	meet	VERB
cblr-13858	1109	46	her	her	PRON
cblr-13858	1109	47	funding	funding	NOUN
cblr-13858	1109	48	goal.276	goal.276	NOUN
cblr-13858	1109	49	prosper	prosper	NOUN
cblr-13858	1109	50	and	and	CCONJ
cblr-13858	1109	51	dev	dev	PROPN
cblr-13858	1109	52	.	.	PROPN
cblr-13858	1109	53	corp	corp	PROPN
cblr-13858	1109	54	.	.	PROPN
cblr-13858	1109	55	,	,	PUNCT
cblr-13858	1109	56	sec	sec	PROPN
cblr-13858	1109	57	no	no	DET
cblr-13858	1109	58	-	-	PUNCT
cblr-13858	1109	59	action	action	NOUN
cblr-13858	1109	60	letter	letter	NOUN
cblr-13858	1109	61	,	,	PUNCT
cblr-13858	1109	62	1987	1987	NUM
cblr-13858	1109	63	wl	wl	PROPN
cblr-13858	1109	64	107835	107835	NUM
cblr-13858	1109	65	(	(	PUNCT
cblr-13858	1109	66	mar	mar	PROPN
cblr-13858	1109	67	.	.	PROPN
cblr-13858	1109	68	19	19	NUM
cblr-13858	1109	69	,	,	PUNCT
cblr-13858	1109	70	1987	1987	NUM
cblr-13858	1109	71	)	)	PUNCT
cblr-13858	1109	72	;	;	PUNCT
cblr-13858	1109	73	venture	venture	NOUN
cblr-13858	1109	74	capital	capital	NOUN
cblr-13858	1109	75	res	re	NOUN
cblr-13858	1109	76	.	.	PROPN
cblr-13858	1109	77	,	,	PUNCT
cblr-13858	1109	78	inc	inc	PROPN
cblr-13858	1109	79	.	.	PROPN
cblr-13858	1109	80	,	,	PUNCT
cblr-13858	1109	81	sec	sec	PROPN
cblr-13858	1109	82	no	no	DET
cblr-13858	1109	83	-	-	PUNCT
cblr-13858	1109	84	action	action	NOUN
cblr-13858	1109	85	letter	letter	NOUN
cblr-13858	1109	86	,	,	PUNCT
cblr-13858	1109	87	1985	1985	NUM
cblr-13858	1109	88	wl	wl	X
cblr-13858	1109	89	55644	55644	NUM
cblr-13858	1109	90	(	(	PUNCT
cblr-13858	1109	91	nov	nov	PROPN
cblr-13858	1109	92	.	.	PROPN
cblr-13858	1109	93	25	25	NUM
cblr-13858	1109	94	,	,	PUNCT
cblr-13858	1109	95	1985	1985	NUM
cblr-13858	1109	96	)	)	PUNCT
cblr-13858	1109	97	.	.	PUNCT
cblr-13858	1110	1	14	14	NUM
cblr-13858	1110	2	kiva	kiva	NOUN
cblr-13858	1110	3	,	,	PUNCT
cblr-13858	1110	4	however	however	ADV
cblr-13858	1110	5	,	,	PUNCT
cblr-13858	1110	6	operates	operate	VERB
cblr-13858	1110	7	exclusively	exclusively	ADV
cblr-13858	1110	8	on	on	ADP
cblr-13858	1110	9	a	a	DET
cblr-13858	1110	10	donation	donation	NOUN
cblr-13858	1110	11	basis	basis	NOUN
cblr-13858	1110	12	.	.	PUNCT
cblr-13858	1111	1	it	it	PRON
cblr-13858	1111	2	does	do	AUX
cblr-13858	1111	3	not	not	PART
cblr-13858	1111	4	receive	receive	VERB
cblr-13858	1111	5	a	a	DET
cblr-13858	1111	6	fee	fee	NOUN
cblr-13858	1111	7	from	from	ADP
cblr-13858	1111	8	either	either	CCONJ
cblr-13858	1111	9	entrepreneurs	entrepreneur	NOUN
cblr-13858	1111	10	or	or	CCONJ
cblr-13858	1111	11	borrowers	borrower	NOUN
cblr-13858	1111	12	,	,	PUNCT
cblr-13858	1111	13	although	although	SCONJ
cblr-13858	1111	14	it	it	PRON
cblr-13858	1111	15	does	do	AUX
cblr-13858	1111	16	accept	accept	VERB
cblr-13858	1111	17	donations	donation	NOUN
cblr-13858	1111	18	from	from	ADP
cblr-13858	1111	19	its	its	PRON
cblr-13858	1111	20	lenders	lender	NOUN
cblr-13858	1111	21	.	.	PUNCT
cblr-13858	1112	1	see	see	VERB
cblr-13858	1112	2	about	about	ADP
cblr-13858	1112	3	us	we	PRON
cblr-13858	1112	4	,	,	PUNCT
cblr-13858	1112	5	kiva	kiva	PROPN
cblr-13858	1112	6	,	,	PUNCT
cblr-13858	1112	7	supra	supra	PROPN
cblr-13858	1112	8	note	note	NOUN
cblr-13858	1112	9	32	32	NUM
cblr-13858	1112	10	.	.	PUNCT
cblr-13858	1113	1	275	275	NUM
cblr-13858	1113	2	see	see	VERB
cblr-13858	1113	3	frequently	frequently	ADV
cblr-13858	1113	4	asked	ask	VERB
cblr-13858	1113	5	questions	question	NOUN
cblr-13858	1113	6	:	:	PUNCT
cblr-13858	1113	7	fees	fee	NOUN
cblr-13858	1113	8	,	,	PUNCT
cblr-13858	1113	9	kickstarter	kickstarter	PROPN
cblr-13858	1113	10	,	,	PUNCT
cblr-13858	1113	11	supra	supra	PROPN
cblr-13858	1113	12	note	note	NOUN
cblr-13858	1113	13	29	29	NUM
cblr-13858	1113	14	.	.	SYM
cblr-13858	1113	15	276	276	NUM
cblr-13858	1113	16	see	see	VERB
cblr-13858	1113	17	pricing	pricing	NOUN
cblr-13858	1113	18	,	,	PUNCT
cblr-13858	1113	19	indiegogo	indiegogo	NOUN
cblr-13858	1113	20	,	,	PUNCT
cblr-13858	1113	21	http://www.indiegogo.com/about/pricing	http://www.indiegogo.com/about/price	VERB
cblr-13858	1113	22	(	(	PUNCT
cblr-13858	1113	23	last	last	ADJ
cblr-13858	1113	24	visited	visit	VERB
cblr-13858	1113	25	mar	mar	PROPN
cblr-13858	1113	26	.	.	PROPN
cblr-13858	1113	27	5	5	NUM
cblr-13858	1113	28	,	,	PUNCT
cblr-13858	1113	29	2012	2012	NUM
cblr-13858	1113	30	)	)	PUNCT
cblr-13858	1113	31	.	.	PUNCT
cblr-13858	1114	1	56	56	NUM
cblr-13858	1114	2	col	col	PROPN
cblr-13858	1114	3	umia	umia	PROPN
cblr-13858	1114	4	b	b	PROPN
cblr-13858	1114	5	usiness	usiness	PROPN
cblr-13858	1114	6	la	la	PROPN
cblr-13858	1114	7	w	w	PROPN
cblr-13858	1114	8	re	re	PROPN
cblr-13858	1114	9	vie	vie	PROPN
cblr-13858	1114	10	w	w	PROPN
cblr-13858	1115	1	[	[	X
cblr-13858	1115	2	vol	vol	NOUN
cblr-13858	1115	3	.	.	NOUN
cblr-13858	1115	4	2012	2012	NUM
cblr-13858	1115	5	.	.	PUNCT
cblr-13858	1116	1	lending	lending	NOUN
cblr-13858	1116	2	club	club	NOUN
cblr-13858	1116	3	each	each	PRON
cblr-13858	1116	4	charge	charge	VERB
cblr-13858	1116	5	a	a	DET
cblr-13858	1116	6	1	1	NUM
cblr-13858	1116	7	%	%	NOUN
cblr-13858	1116	8	fee.277	fee.277	NOUN
cblr-13858	1116	9	when	when	SCONJ
cblr-13858	1116	10	profounder	profounder	PROPN
cblr-13858	1116	11	was	be	AUX
cblr-13858	1116	12	selling	sell	VERB
cblr-13858	1116	13	securities	security	NOUN
cblr-13858	1116	14	,	,	PUNCT
cblr-13858	1116	15	at	at	ADP
cblr-13858	1116	16	least	least	ADJ
cblr-13858	1116	17	part	part	NOUN
cblr-13858	1116	18	of	of	ADP
cblr-13858	1116	19	its	its	PRON
cblr-13858	1116	20	fee	fee	NOUN
cblr-13858	1116	21	apparently	apparently	ADV
cblr-13858	1116	22	depended	depend	VERB
cblr-13858	1116	23	on	on	ADP
cblr-13858	1116	24	whether	whether	SCONJ
cblr-13858	1116	25	the	the	DET
cblr-13858	1116	26	offering	offering	NOUN
cblr-13858	1116	27	was	be	AUX
cblr-13858	1116	28	successful.27	successful.27	PROPN
cblr-13858	1116	29	8	8	NUM
cblr-13858	1116	30	the	the	DET
cblr-13858	1116	31	sec	sec	PROPN
cblr-13858	1116	32	staff	staff	NOUN
cblr-13858	1116	33	has	have	AUX
cblr-13858	1116	34	indicated	indicate	VERB
cblr-13858	1116	35	that	that	SCONJ
cblr-13858	1116	36	transaction	transaction	NOUN
cblr-13858	1116	37	-	-	PUNCT
cblr-13858	1116	38	based	base	VERB
cblr-13858	1116	39	compensation	compensation	NOUN
cblr-13858	1116	40	like	like	ADP
cblr-13858	1116	41	this	this	PRON
cblr-13858	1116	42	"	"	PUNCT
cblr-13858	1116	43	is	be	AUX
cblr-13858	1116	44	a	a	DET
cblr-13858	1116	45	key	key	ADJ
cblr-13858	1116	46	factor	factor	NOUN
cblr-13858	1116	47	in	in	ADP
cblr-13858	1116	48	determining	determine	VERB
cblr-13858	1116	49	whether	whether	SCONJ
cblr-13858	1116	50	a	a	DET
cblr-13858	1116	51	person	person	NOUN
cblr-13858	1116	52	or	or	CCONJ
cblr-13858	1116	53	entity	entity	NOUN
cblr-13858	1116	54	is	be	AUX
cblr-13858	1116	55	acting	act	VERB
cblr-13858	1116	56	as	as	ADP
cblr-13858	1116	57	a	a	DET
cblr-13858	1116	58	broker	broker	NOUN
cblr-13858	1116	59	-	-	PUNCT
cblr-13858	1116	60	dealer	dealer	NOUN
cblr-13858	1116	61	.	.	PUNCT
cblr-13858	1117	1	"2	"2	PROPN
cblr-13858	1117	2	79	79	NUM
cblr-13858	1117	3	according	accord	VERB
cblr-13858	1117	4	to	to	ADP
cblr-13858	1117	5	an	an	DET
cblr-13858	1117	6	american	american	PROPN
cblr-13858	1117	7	bar	bar	PROPN
cblr-13858	1117	8	association	association	PROPN
cblr-13858	1117	9	task	task	NOUN
cblr-13858	1117	10	force	force	NOUN
cblr-13858	1117	11	,	,	PUNCT
cblr-13858	1117	12	"	"	PUNCT
cblr-13858	1117	13	[	[	X
cblr-13858	1117	14	t]ransaction	t]ransaction	NOUN
cblr-13858	1117	15	-	-	PUNCT
cblr-13858	1117	16	based	base	VERB
cblr-13858	1117	17	compensation	compensation	NOUN
cblr-13858	1117	18	has	have	AUX
cblr-13858	1117	19	come	come	VERB
cblr-13858	1117	20	under	under	ADP
cblr-13858	1117	21	intense	intense	ADJ
cblr-13858	1117	22	scrutiny	scrutiny	NOUN
cblr-13858	1117	23	by	by	ADP
cblr-13858	1117	24	the	the	DET
cblr-13858	1117	25	sec,"280	sec,"280	PROPN
cblr-13858	1117	26	and	and	CCONJ
cblr-13858	1117	27	the	the	DET
cblr-13858	1117	28	staff	staff	NOUN
cblr-13858	1117	29	may	may	AUX
cblr-13858	1117	30	be	be	AUX
cblr-13858	1117	31	moving	move	VERB
cblr-13858	1117	32	to	to	ADP
cblr-13858	1117	33	a	a	DET
cblr-13858	1117	34	position	position	NOUN
cblr-13858	1117	35	where	where	SCONJ
cblr-13858	1117	36	transaction	transaction	NOUN
cblr-13858	1117	37	-	-	PUNCT
cblr-13858	1117	38	based	base	VERB
cblr-13858	1117	39	compensation	compensation	NOUN
cblr-13858	1117	40	in	in	ADP
cblr-13858	1117	41	connection	connection	NOUN
cblr-13858	1117	42	with	with	ADP
cblr-13858	1117	43	a	a	DET
cblr-13858	1117	44	securities	security	NOUN
cblr-13858	1117	45	transaction	transaction	NOUN
cblr-13858	1117	46	is	be	AUX
cblr-13858	1117	47	alone	alone	ADJ
cblr-13858	1117	48	sufficient	sufficient	ADJ
cblr-13858	1117	49	to	to	PART
cblr-13858	1117	50	make	make	VERB
cblr-13858	1117	51	one	one	NUM
cblr-13858	1117	52	a	a	DET
cblr-13858	1117	53	broker.28	broker.28	NOUN
cblr-13858	1117	54	'	'	PUNCT
cblr-13858	1117	55	the	the	DET
cblr-13858	1117	56	staff	staff	NOUN
cblr-13858	1117	57	's	's	PART
cblr-13858	1117	58	concern	concern	NOUN
cblr-13858	1117	59	is	be	AUX
cblr-13858	1117	60	apparently	apparently	ADV
cblr-13858	1117	61	that	that	SCONJ
cblr-13858	1117	62	transactionbased	transactionbase	VERB
cblr-13858	1117	63	compensation	compensation	NOUN
cblr-13858	1117	64	would	would	AUX
cblr-13858	1117	65	give	give	VERB
cblr-13858	1117	66	the	the	DET
cblr-13858	1117	67	person	person	NOUN
cblr-13858	1117	68	"	"	PUNCT
cblr-13858	1117	69	a	a	DET
cblr-13858	1117	70	'	'	PUNCT
cblr-13858	1117	71	salesman	salesman	NOUN
cblr-13858	1117	72	's	's	PART
cblr-13858	1117	73	stake	stake	NOUN
cblr-13858	1117	74	in	in	ADP
cblr-13858	1117	75	the	the	DET
cblr-13858	1117	76	proposed	propose	VERB
cblr-13858	1117	77	transactions	transaction	NOUN
cblr-13858	1117	78	and	and	CCONJ
cblr-13858	1117	79	..	..	PUNCT
cblr-13858	1117	80	.	.	PUNCT
cblr-13858	1118	1	create	create	VERB
cblr-13858	1118	2	heightened	heightened	ADJ
cblr-13858	1118	3	incentive	incentive	NOUN
cblr-13858	1118	4	for	for	ADP
cblr-13858	1118	5	.	.	PUNCT
cblr-13858	1118	6	..	..	PUNCT
cblr-13858	1119	1	[	[	X
cblr-13858	1119	2	the	the	DET
cblr-13858	1119	3	person	person	NOUN
cblr-13858	1119	4	]	]	PUNCT
cblr-13858	1119	5	.	.	PUNCT
cblr-13858	1119	6	.	.	PUNCT
cblr-13858	1119	7	.	.	PUNCT
cblr-13858	1120	1	to	to	PART
cblr-13858	1120	2	engage	engage	VERB
cblr-13858	1120	3	in	in	ADP
cblr-13858	1120	4	sales	sale	NOUN
cblr-13858	1120	5	efforts	effort	NOUN
cblr-13858	1120	6	.	.	PUNCT
cblr-13858	1121	1	"2	"2	NOUN
cblr-13858	1121	2	8	8	NUM
cblr-13858	1121	3	2	2	NUM
cblr-13858	1121	4	however	however	ADV
cblr-13858	1121	5	,	,	PUNCT
cblr-13858	1121	6	it	it	PRON
cblr-13858	1121	7	is	be	AUX
cblr-13858	1121	8	possible	possible	ADJ
cblr-13858	1121	9	to	to	PART
cblr-13858	1121	10	receive	receive	VERB
cblr-13858	1121	11	transaction	transaction	NOUN
cblr-13858	1121	12	-	-	PUNCT
cblr-13858	1121	13	based	base	VERB
cblr-13858	1121	14	compensation	compensation	NOUN
cblr-13858	1121	15	in	in	ADP
cblr-13858	1121	16	connection	connection	NOUN
cblr-13858	1121	17	with	with	ADP
cblr-13858	1121	18	securities	security	NOUN
cblr-13858	1121	19	transactions	transaction	NOUN
cblr-13858	1121	20	without	without	ADP
cblr-13858	1121	21	being	be	AUX
cblr-13858	1121	22	considered	consider	VERB
cblr-13858	1121	23	a	a	DET
cblr-13858	1121	24	broker	broker	NOUN
cblr-13858	1121	25	.	.	PUNCT
cblr-13858	1122	1	a	a	DET
cblr-13858	1122	2	recent	recent	ADJ
cblr-13858	1122	3	district	district	NOUN
cblr-13858	1122	4	court	court	NOUN
cblr-13858	1122	5	277	277	NUM
cblr-13858	1122	6	prosper	prosper	NOUN
cblr-13858	1122	7	registration	registration	NOUN
cblr-13858	1122	8	statement	statement	NOUN
cblr-13858	1122	9	,	,	PUNCT
cblr-13858	1122	10	supra	supra	PROPN
cblr-13858	1122	11	note	note	PROPN
cblr-13858	1122	12	81	81	NUM
cblr-13858	1122	13	,	,	PUNCT
cblr-13858	1122	14	at	at	ADP
cblr-13858	1122	15	5	5	NUM
cblr-13858	1122	16	;	;	PUNCT
cblr-13858	1122	17	lending	lend	VERB
cblr-13858	1122	18	club	club	NOUN
cblr-13858	1122	19	registration	registration	NOUN
cblr-13858	1122	20	statement	statement	NOUN
cblr-13858	1122	21	,	,	PUNCT
cblr-13858	1122	22	supra	supra	PROPN
cblr-13858	1122	23	note	note	PROPN
cblr-13858	1122	24	81	81	NUM
cblr-13858	1122	25	,	,	PUNCT
cblr-13858	1122	26	at	at	ADP
cblr-13858	1122	27	3	3	NUM
cblr-13858	1122	28	.	.	NUM
cblr-13858	1122	29	271	271	NUM
cblr-13858	1122	30	see	see	VERB
cblr-13858	1122	31	supra	supra	PROPN
cblr-13858	1122	32	part	part	NOUN
cblr-13858	1122	33	ii.b.4	ii.b.4	PROPN
cblr-13858	1122	34	.	.	PUNCT
cblr-13858	1123	1	279	279	NUM
cblr-13858	1123	2	see	see	VERB
cblr-13858	1123	3	guide	guide	NOUN
cblr-13858	1123	4	to	to	ADP
cblr-13858	1123	5	registration	registration	NOUN
cblr-13858	1123	6	,	,	PUNCT
cblr-13858	1123	7	supra	supra	PROPN
cblr-13858	1123	8	note	note	NOUN
cblr-13858	1123	9	265	265	NUM
cblr-13858	1123	10	(	(	PUNCT
cblr-13858	1123	11	"	"	PUNCT
cblr-13858	1123	12	does	do	AUX
cblr-13858	1123	13	your	your	PRON
cblr-13858	1123	14	compensation	compensation	NOUN
cblr-13858	1123	15	for	for	ADP
cblr-13858	1123	16	participation	participation	NOUN
cblr-13858	1123	17	in	in	ADP
cblr-13858	1123	18	the	the	DET
cblr-13858	1123	19	transaction	transaction	NOUN
cblr-13858	1123	20	depend	depend	VERB
cblr-13858	1123	21	upon	upon	SCONJ
cblr-13858	1123	22	,	,	PUNCT
cblr-13858	1123	23	or	or	CCONJ
cblr-13858	1123	24	is	be	AUX
cblr-13858	1123	25	it	it	PRON
cblr-13858	1123	26	related	related	ADJ
cblr-13858	1123	27	to	to	ADP
cblr-13858	1123	28	,	,	PUNCT
cblr-13858	1123	29	the	the	DET
cblr-13858	1123	30	outcome	outcome	NOUN
cblr-13858	1123	31	or	or	CCONJ
cblr-13858	1123	32	size	size	NOUN
cblr-13858	1123	33	of	of	ADP
cblr-13858	1123	34	the	the	DET
cblr-13858	1123	35	transaction	transaction	NOUN
cblr-13858	1123	36	or	or	CCONJ
cblr-13858	1123	37	deal	deal	NOUN
cblr-13858	1123	38	?	?	PUNCT
cblr-13858	1123	39	.	.	PUNCT
cblr-13858	1123	40	.	.	PUNCT
cblr-13858	1124	1	.	.	PUNCT
cblr-13858	1125	1	do	do	AUX
cblr-13858	1125	2	you	you	PRON
cblr-13858	1125	3	receive	receive	VERB
cblr-13858	1125	4	any	any	DET
cblr-13858	1125	5	other	other	ADJ
cblr-13858	1125	6	transaction	transaction	NOUN
cblr-13858	1125	7	-	-	PUNCT
cblr-13858	1125	8	related	relate	VERB
cblr-13858	1125	9	compensation	compensation	NOUN
cblr-13858	1125	10	?	?	PUNCT
cblr-13858	1125	11	"	"	PUNCT
cblr-13858	1125	12	)	)	PUNCT
cblr-13858	1125	13	.	.	PUNCT
cblr-13858	1126	1	see	see	VERB
cblr-13858	1126	2	also	also	ADV
cblr-13858	1126	3	sec	sec	PROPN
cblr-13858	1126	4	v.	v.	PROPN
cblr-13858	1126	5	margolin	margolin	PROPN
cblr-13858	1126	6	,	,	PUNCT
cblr-13858	1126	7	no	no	NOUN
cblr-13858	1126	8	.	.	NOUN
cblr-13858	1127	1	92	92	NUM
cblr-13858	1127	2	civ	civ	NOUN
cblr-13858	1127	3	.	.	PUNCT
cblr-13858	1127	4	6307	6307	NUM
cblr-13858	1127	5	(	(	PUNCT
cblr-13858	1127	6	pkl	pkl	PROPN
cblr-13858	1127	7	)	)	PUNCT
cblr-13858	1127	8	,	,	PUNCT
cblr-13858	1127	9	1992	1992	NUM
cblr-13858	1127	10	wl	wl	SYM
cblr-13858	1127	11	279735	279735	NUM
cblr-13858	1127	12	(	(	PUNCT
cblr-13858	1127	13	s.d.n.y	s.d.n.y	PROPN
cblr-13858	1127	14	.	.	PUNCT
cblr-13858	1127	15	sept	sept	PROPN
cblr-13858	1127	16	.	.	PROPN
cblr-13858	1127	17	30	30	NUM
cblr-13858	1127	18	,	,	PUNCT
cblr-13858	1127	19	1992	1992	NUM
cblr-13858	1127	20	)	)	PUNCT
cblr-13858	1127	21	(	(	PUNCT
cblr-13858	1127	22	listing	list	VERB
cblr-13858	1127	23	transaction	transaction	NOUN
cblr-13858	1127	24	-	-	PUNCT
cblr-13858	1127	25	based	base	VERB
cblr-13858	1127	26	compensation	compensation	NOUN
cblr-13858	1127	27	as	as	ADP
cblr-13858	1127	28	one	one	NUM
cblr-13858	1127	29	factor	factor	NOUN
cblr-13858	1127	30	)	)	PUNCT
cblr-13858	1127	31	;	;	PUNCT
cblr-13858	1127	32	hazen	hazen	PROPN
cblr-13858	1127	33	,	,	PUNCT
cblr-13858	1127	34	supra	supra	PROPN
cblr-13858	1127	35	note	note	PROPN
cblr-13858	1127	36	42	42	NUM
cblr-13858	1127	37	,	,	PUNCT
cblr-13858	1127	38	at	at	ADP
cblr-13858	1127	39	210	210	NUM
cblr-13858	1127	40	(	(	PUNCT
cblr-13858	1127	41	same	same	ADJ
cblr-13858	1127	42	)	)	PUNCT
cblr-13858	1127	43	;	;	PUNCT
cblr-13858	1127	44	lipton	lipton	PROPN
cblr-13858	1127	45	,	,	PUNCT
cblr-13858	1127	46	supra	supra	PROPN
cblr-13858	1127	47	note	note	PROPN
cblr-13858	1127	48	253	253	NUM
cblr-13858	1127	49	,	,	PUNCT
cblr-13858	1127	50	at	at	ADP
cblr-13858	1127	51	1	1	NUM
cblr-13858	1127	52	-	-	SYM
cblr-13858	1127	53	70.1	70.1	NUM
cblr-13858	1127	54	(	(	PUNCT
cblr-13858	1127	55	same	same	ADJ
cblr-13858	1127	56	)	)	PUNCT
cblr-13858	1127	57	.	.	PUNCT
cblr-13858	1128	1	280	280	NUM
cblr-13858	1128	2	task	task	NOUN
cblr-13858	1128	3	force	force	NOUN
cblr-13858	1128	4	on	on	ADP
cblr-13858	1128	5	private	private	ADJ
cblr-13858	1128	6	placement	placement	NOUN
cblr-13858	1128	7	broker	broker	NOUN
cblr-13858	1128	8	-	-	PUNCT
cblr-13858	1128	9	dealers	dealer	NOUN
cblr-13858	1128	10	,	,	PUNCT
cblr-13858	1128	11	aba	aba	PROPN
cblr-13858	1128	12	section	section	NOUN
cblr-13858	1128	13	of	of	ADP
cblr-13858	1128	14	business	business	NOUN
cblr-13858	1128	15	law	law	NOUN
cblr-13858	1128	16	,	,	PUNCT
cblr-13858	1128	17	report	report	NOUN
cblr-13858	1128	18	and	and	CCONJ
cblr-13858	1128	19	recommendations	recommendation	NOUN
cblr-13858	1128	20	of	of	ADP
cblr-13858	1128	21	the	the	DET
cblr-13858	1128	22	task	task	NOUN
cblr-13858	1128	23	force	force	NOUN
cblr-13858	1128	24	on	on	ADP
cblr-13858	1128	25	private	private	ADJ
cblr-13858	1128	26	placement	placement	NOUN
cblr-13858	1128	27	broker	broker	NOUN
cblr-13858	1128	28	-	-	PUNCT
cblr-13858	1128	29	dealers	dealer	NOUN
cblr-13858	1128	30	,	,	PUNCT
cblr-13858	1128	31	60	60	NUM
cblr-13858	1128	32	bus	bus	NOUN
cblr-13858	1128	33	.	.	PUNCT
cblr-13858	1129	1	law	law	NOUN
cblr-13858	1129	2	.	.	PUNCT
cblr-13858	1130	1	959	959	NUM
cblr-13858	1130	2	,	,	PUNCT
cblr-13858	1130	3	975	975	NUM
cblr-13858	1130	4	(	(	PUNCT
cblr-13858	1130	5	2005	2005	NUM
cblr-13858	1130	6	)	)	PUNCT
cblr-13858	1130	7	.	.	PUNCT
cblr-13858	1131	1	see	see	VERB
cblr-13858	1131	2	also	also	ADV
cblr-13858	1131	3	orcutt	orcutt	PROPN
cblr-13858	1131	4	,	,	PUNCT
cblr-13858	1131	5	supra	supra	PROPN
cblr-13858	1131	6	note	note	NOUN
cblr-13858	1131	7	255	255	NUM
cblr-13858	1131	8	,	,	PUNCT
cblr-13858	1131	9	at	at	ADP
cblr-13858	1131	10	908	908	NUM
cblr-13858	1131	11	(	(	PUNCT
cblr-13858	1131	12	noting	note	VERB
cblr-13858	1131	13	that	that	SCONJ
cblr-13858	1131	14	transaction	transaction	NOUN
cblr-13858	1131	15	-	-	PUNCT
cblr-13858	1131	16	based	base	VERB
cblr-13858	1131	17	compensation	compensation	NOUN
cblr-13858	1131	18	has	have	AUX
cblr-13858	1131	19	"	"	PUNCT
cblr-13858	1131	20	garnered	garnered	VERB
cblr-13858	1131	21	substantial	substantial	ADJ
cblr-13858	1131	22	attention	attention	NOUN
cblr-13858	1131	23	"	"	PUNCT
cblr-13858	1131	24	)	)	PUNCT
cblr-13858	1131	25	.	.	PUNCT
cblr-13858	1132	1	281	281	NUM
cblr-13858	1132	2	task	task	NOUN
cblr-13858	1132	3	force	force	NOUN
cblr-13858	1132	4	on	on	ADP
cblr-13858	1132	5	private	private	ADJ
cblr-13858	1132	6	placement	placement	NOUN
cblr-13858	1132	7	broker	broker	NOUN
cblr-13858	1132	8	-	-	PUNCT
cblr-13858	1132	9	dealers	dealer	NOUN
cblr-13858	1132	10	,	,	PUNCT
cblr-13858	1132	11	supra	supra	PROPN
cblr-13858	1132	12	note	note	PROPN
cblr-13858	1132	13	280	280	NUM
cblr-13858	1132	14	,	,	PUNCT
cblr-13858	1132	15	at	at	ADP
cblr-13858	1132	16	977	977	NUM
cblr-13858	1132	17	.	.	PUNCT
cblr-13858	1133	1	see	see	VERB
cblr-13858	1133	2	also	also	ADV
cblr-13858	1133	3	poser	poser	NOUN
cblr-13858	1133	4	&	&	CCONJ
cblr-13858	1133	5	fanto	fanto	PROPN
cblr-13858	1133	6	,	,	PUNCT
cblr-13858	1133	7	supra	supra	PROPN
cblr-13858	1133	8	note	note	PROPN
cblr-13858	1133	9	254	254	NUM
cblr-13858	1133	10	,	,	PUNCT
cblr-13858	1133	11	at	at	ADP
cblr-13858	1133	12	5	5	NUM
cblr-13858	1133	13	-	-	SYM
cblr-13858	1133	14	17	17	NUM
cblr-13858	1133	15	(	(	PUNCT
cblr-13858	1133	16	noting	note	VERB
cblr-13858	1133	17	that	that	SCONJ
cblr-13858	1133	18	transaction	transaction	NOUN
cblr-13858	1133	19	-	-	PUNCT
cblr-13858	1133	20	based	base	VERB
cblr-13858	1133	21	compensation	compensation	NOUN
cblr-13858	1133	22	"	"	PUNCT
cblr-13858	1133	23	may	may	AUX
cblr-13858	1133	24	be	be	AUX
cblr-13858	1133	25	the	the	DET
cblr-13858	1133	26	determinative	determinative	ADJ
cblr-13858	1133	27	factor	factor	NOUN
cblr-13858	1133	28	"	"	PUNCT
cblr-13858	1133	29	)	)	PUNCT
cblr-13858	1133	30	.	.	PUNCT
cblr-13858	1134	1	282	282	NUM
cblr-13858	1134	2	brumberg	brumberg	PROPN
cblr-13858	1134	3	,	,	PUNCT
cblr-13858	1134	4	mackey	mackey	PROPN
cblr-13858	1134	5	&	&	CCONJ
cblr-13858	1134	6	wall	wall	PROPN
cblr-13858	1134	7	,	,	PUNCT
cblr-13858	1134	8	p.l.c	p.l.c	NOUN
cblr-13858	1134	9	.	.	PROPN
cblr-13858	1134	10	,	,	PUNCT
cblr-13858	1134	11	sec	sec	PROPN
cblr-13858	1134	12	no	no	DET
cblr-13858	1134	13	-	-	PUNCT
cblr-13858	1134	14	action	action	NOUN
cblr-13858	1134	15	letter	letter	NOUN
cblr-13858	1134	16	,	,	PUNCT
cblr-13858	1134	17	2010	2010	NUM
cblr-13858	1134	18	wl	wl	NOUN
cblr-13858	1134	19	1976174	1976174	NUM
cblr-13858	1134	20	(	(	PUNCT
cblr-13858	1134	21	may	may	PROPN
cblr-13858	1134	22	17	17	NUM
cblr-13858	1134	23	,	,	PUNCT
cblr-13858	1134	24	2010	2010	NUM
cblr-13858	1134	25	)	)	PUNCT
cblr-13858	1134	26	;	;	PUNCT
cblr-13858	1134	27	1st	1st	ADJ
cblr-13858	1134	28	global	global	PROPN
cblr-13858	1134	29	,	,	PUNCT
cblr-13858	1134	30	inc	inc	PROPN
cblr-13858	1134	31	.	.	PROPN
cblr-13858	1134	32	,	,	PUNCT
cblr-13858	1134	33	sec	sec	PROPN
cblr-13858	1134	34	no	no	DET
cblr-13858	1134	35	-	-	PUNCT
cblr-13858	1134	36	action	action	NOUN
cblr-13858	1134	37	letter	letter	NOUN
cblr-13858	1134	38	,	,	PUNCT
cblr-13858	1134	39	2001	2001	NUM
cblr-13858	1134	40	wl	wl	NOUN
cblr-13858	1134	41	499080	499080	NUM
cblr-13858	1134	42	(	(	PUNCT
cblr-13858	1134	43	may	may	PROPN
cblr-13858	1134	44	7	7	NUM
cblr-13858	1134	45	,	,	PUNCT
cblr-13858	1134	46	2001	2001	NUM
cblr-13858	1134	47	)	)	PUNCT
cblr-13858	1134	48	.	.	PUNCT
cblr-13858	1135	1	see	see	VERB
cblr-13858	1135	2	also	also	ADV
cblr-13858	1135	3	orcutt	orcutt	PROPN
cblr-13858	1135	4	,	,	PUNCT
cblr-13858	1135	5	supra	supra	PROPN
cblr-13858	1135	6	note	note	NOUN
cblr-13858	1135	7	255	255	NUM
cblr-13858	1135	8	,	,	PUNCT
cblr-13858	1135	9	at	at	ADP
cblr-13858	1135	10	910	910	NUM
cblr-13858	1135	11	;	;	PUNCT
cblr-13858	1135	12	john	john	PROPN
cblr-13858	1135	13	polanin	polanin	PROPN
cblr-13858	1135	14	,	,	PUNCT
cblr-13858	1135	15	jr	jr	PROPN
cblr-13858	1135	16	.	.	PROPN
cblr-13858	1135	17	,	,	PUNCT
cblr-13858	1135	18	the	the	DET
cblr-13858	1135	19	"	"	PUNCT
cblr-13858	1135	20	finder	finder	NOUN
cblr-13858	1135	21	's	's	PART
cblr-13858	1135	22	"	"	PUNCT
cblr-13858	1135	23	exception	exception	NOUN
cblr-13858	1135	24	from	from	ADP
cblr-13858	1135	25	federal	federal	ADJ
cblr-13858	1135	26	broker	broker	NOUN
cblr-13858	1135	27	-	-	PUNCT
cblr-13858	1135	28	dealer	dealer	NOUN
cblr-13858	1135	29	registration	registration	NOUN
cblr-13858	1135	30	,	,	PUNCT
cblr-13858	1135	31	40	40	NUM
cblr-13858	1135	32	cath	cath	NOUN
cblr-13858	1135	33	.	.	PUNCT
cblr-13858	1136	1	u.	u.	PROPN
cblr-13858	1136	2	l.	l.	PROPN
cblr-13858	1136	3	rev	rev	PROPN
cblr-13858	1136	4	.	.	PROPN
cblr-13858	1136	5	787	787	NUM
cblr-13858	1136	6	,	,	PUNCT
cblr-13858	1136	7	814	814	NUM
cblr-13858	1136	8	(	(	PUNCT
cblr-13858	1136	9	1991	1991	NUM
cblr-13858	1136	10	)	)	PUNCT
cblr-13858	1136	11	.	.	PUNCT
cblr-13858	1137	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1137	2	and	and	CCONJ
cblr-13858	1137	3	securities	securities	PROPN
cblr-13858	1137	4	ia	ia	PROPN
cblr-13858	1137	5	ws	ws	PROPN
cblr-13858	1137	6	57no	57no	NUM
cblr-13858	1137	7	.	.	PUNCT
cblr-13858	1138	1	i1:1]1	i1:1]1	PROPN
cblr-13858	1138	2	columbia	columbia	PROPN
cblr-13858	1138	3	business	business	PROPN
cblr-13858	1138	4	law	law	PROPN
cblr-13858	1138	5	review	review	NOUN
cblr-13858	1138	6	case	case	NOUN
cblr-13858	1138	7	recognized	recognize	VERB
cblr-13858	1138	8	that	that	SCONJ
cblr-13858	1138	9	transaction	transaction	NOUN
cblr-13858	1138	10	-	-	PUNCT
cblr-13858	1138	11	based	base	VERB
cblr-13858	1138	12	compensation	compensation	NOUN
cblr-13858	1138	13	"	"	PUNCT
cblr-13858	1138	14	is	be	AUX
cblr-13858	1138	15	the	the	DET
cblr-13858	1138	16	hallmark	hallmark	NOUN
cblr-13858	1138	17	of	of	ADP
cblr-13858	1138	18	a	a	DET
cblr-13858	1138	19	salesman,"2	salesman,"2	NOUN
cblr-13858	1138	20	8	8	NUM
cblr-13858	1138	21	3	3	NUM
cblr-13858	1138	22	but	but	CCONJ
cblr-13858	1138	23	nevertheless	nevertheless	ADV
cblr-13858	1138	24	held	hold	VERB
cblr-13858	1138	25	that	that	SCONJ
cblr-13858	1138	26	an	an	DET
cblr-13858	1138	27	individual	individual	NOUN
cblr-13858	1138	28	who	who	PRON
cblr-13858	1138	29	received	receive	VERB
cblr-13858	1138	30	transaction	transaction	NOUN
cblr-13858	1138	31	-	-	PUNCT
cblr-13858	1138	32	based	base	VERB
cblr-13858	1138	33	compensation	compensation	NOUN
cblr-13858	1138	34	for	for	ADP
cblr-13858	1138	35	merely	merely	ADV
cblr-13858	1138	36	bringing	bring	VERB
cblr-13858	1138	37	people	people	NOUN
cblr-13858	1138	38	together	together	ADV
cblr-13858	1138	39	for	for	ADP
cblr-13858	1138	40	a	a	DET
cblr-13858	1138	41	securities	security	NOUN
cblr-13858	1138	42	transaction	transaction	NOUN
cblr-13858	1138	43	was	be	AUX
cblr-13858	1138	44	not	not	PART
cblr-13858	1138	45	a	a	DET
cblr-13858	1138	46	broker.284	broker.284	NOUN
cblr-13858	1138	47	the	the	DET
cblr-13858	1138	48	sec	sec	PROPN
cblr-13858	1138	49	staff	staff	NOUN
cblr-13858	1138	50	has	have	AUX
cblr-13858	1138	51	also	also	ADV
cblr-13858	1138	52	occasionally	occasionally	ADV
cblr-13858	1138	53	granted	grant	VERB
cblr-13858	1138	54	no	no	DET
cblr-13858	1138	55	-	-	PUNCT
cblr-13858	1138	56	action	action	NOUN
cblr-13858	1138	57	relief	relief	NOUN
cblr-13858	1138	58	to	to	ADP
cblr-13858	1138	59	finders	finder	NOUN
cblr-13858	1138	60	who	who	PRON
cblr-13858	1138	61	received	receive	VERB
cblr-13858	1138	62	transactionbased	transactionbase	VERB
cblr-13858	1138	63	compensation	compensation	NOUN
cblr-13858	1138	64	.	.	PUNCT
cblr-13858	1139	1	the	the	DET
cblr-13858	1139	2	most	most	ADV
cblr-13858	1139	3	well	well	ADV
cblr-13858	1139	4	-	-	PUNCT
cblr-13858	1139	5	known	know	VERB
cblr-13858	1139	6	of	of	ADP
cblr-13858	1139	7	these	these	DET
cblr-13858	1139	8	noaction	noaction	NOUN
cblr-13858	1139	9	letters	letter	NOUN
cblr-13858	1139	10	involved	involve	VERB
cblr-13858	1139	11	the	the	DET
cblr-13858	1139	12	entertainer	entertainer	NOUN
cblr-13858	1139	13	paul	paul	PROPN
cblr-13858	1139	14	anka	anka	PROPN
cblr-13858	1139	15	,	,	PUNCT
cblr-13858	1139	16	who	who	PRON
cblr-13858	1139	17	provided	provide	VERB
cblr-13858	1139	18	the	the	DET
cblr-13858	1139	19	names	name	NOUN
cblr-13858	1139	20	of	of	ADP
cblr-13858	1139	21	potential	potential	ADJ
cblr-13858	1139	22	investors	investor	NOUN
cblr-13858	1139	23	to	to	ADP
cblr-13858	1139	24	the	the	DET
cblr-13858	1139	25	ottawa	ottawa	PROPN
cblr-13858	1139	26	senators	senator	NOUN
cblr-13858	1139	27	hockey	hockey	NOUN
cblr-13858	1139	28	club	club	NOUN
cblr-13858	1139	29	in	in	ADP
cblr-13858	1139	30	return	return	NOUN
cblr-13858	1139	31	for	for	ADP
cblr-13858	1139	32	a	a	DET
cblr-13858	1139	33	finder	finder	NOUN
cblr-13858	1139	34	's	's	PART
cblr-13858	1139	35	fee	fee	NOUN
cblr-13858	1139	36	equal	equal	ADJ
cblr-13858	1139	37	to	to	ADP
cblr-13858	1139	38	10	10	NUM
cblr-13858	1139	39	%	%	NOUN
cblr-13858	1139	40	of	of	ADP
cblr-13858	1139	41	the	the	DET
cblr-13858	1139	42	amount	amount	NOUN
cblr-13858	1139	43	the	the	DET
cblr-13858	1139	44	investors	investor	NOUN
cblr-13858	1139	45	invested.8	invested.8	VERB
cblr-13858	1139	46	the	the	DET
cblr-13858	1139	47	paul	paul	PROPN
cblr-13858	1139	48	anka	anka	PROPN
cblr-13858	1139	49	letter	letter	PROPN
cblr-13858	1139	50	and	and	CCONJ
cblr-13858	1139	51	the	the	DET
cblr-13858	1139	52	other	other	ADJ
cblr-13858	1139	53	no	no	DET
cblr-13858	1139	54	-	-	PUNCT
cblr-13858	1139	55	action	action	NOUN
cblr-13858	1139	56	letters	letter	NOUN
cblr-13858	1139	57	allowing	allow	VERB
cblr-13858	1139	58	transaction	transaction	NOUN
cblr-13858	1139	59	-	-	PUNCT
cblr-13858	1139	60	based	base	VERB
cblr-13858	1139	61	compensation	compensation	NOUN
cblr-13858	1139	62	involved	involve	VERB
cblr-13858	1139	63	finders	finder	NOUN
cblr-13858	1139	64	who	who	PRON
cblr-13858	1139	65	were	be	AUX
cblr-13858	1139	66	not	not	PART
cblr-13858	1139	67	involved	involve	VERB
cblr-13858	1139	68	in	in	ADP
cblr-13858	1139	69	negotiations	negotiation	NOUN
cblr-13858	1139	70	,	,	PUNCT
cblr-13858	1139	71	consummation	consummation	NOUN
cblr-13858	1139	72	of	of	ADP
cblr-13858	1139	73	the	the	DET
cblr-13858	1139	74	financing	financing	NOUN
cblr-13858	1139	75	,	,	PUNCT
cblr-13858	1139	76	or	or	CCONJ
cblr-13858	1139	77	transferring	transfer	VERB
cblr-13858	1139	78	funds	fund	NOUN
cblr-13858	1139	79	or	or	CCONJ
cblr-13858	1139	80	securities	security	NOUN
cblr-13858	1139	81	to	to	PART
cblr-13858	1139	82	effect	effect	VERB
cblr-13858	1139	83	the	the	DET
cblr-13858	1139	84	deal.8	deal.8	PROPN
cblr-13858	1139	85	anka	anka	PROPN
cblr-13858	1139	86	,	,	PUNCT
cblr-13858	1139	87	for	for	ADP
cblr-13858	1139	88	instance	instance	NOUN
cblr-13858	1139	89	,	,	PUNCT
cblr-13858	1139	90	only	only	ADV
cblr-13858	1139	91	provided	provide	VERB
cblr-13858	1139	92	the	the	DET
cblr-13858	1139	93	names	name	NOUN
cblr-13858	1139	94	of	of	ADP
cblr-13858	1139	95	potential	potential	ADJ
cblr-13858	1139	96	investors	investor	NOUN
cblr-13858	1139	97	to	to	ADP
cblr-13858	1139	98	the	the	DET
cblr-13858	1139	99	club	club	NOUN
cblr-13858	1139	100	;	;	PUNCT
cblr-13858	1139	101	he	he	PRON
cblr-13858	1139	102	did	do	AUX
cblr-13858	1139	103	not	not	PART
cblr-13858	1139	104	solicit	solicit	VERB
cblr-13858	1139	105	or	or	CCONJ
cblr-13858	1139	106	even	even	ADV
cblr-13858	1139	107	contact	contact	VERB
cblr-13858	1139	108	the	the	DET
cblr-13858	1139	109	potential	potential	ADJ
cblr-13858	1139	110	investors	investor	NOUN
cblr-13858	1139	111	and	and	CCONJ
cblr-13858	1139	112	was	be	AUX
cblr-13858	1139	113	not	not	PART
cblr-13858	1139	114	involved	involve	VERB
cblr-13858	1139	115	in	in	ADP
cblr-13858	1139	116	negotiations	negotiation	NOUN
cblr-13858	1139	117	between	between	ADP
cblr-13858	1139	118	the	the	DET
cblr-13858	1139	119	club	club	NOUN
cblr-13858	1139	120	and	and	CCONJ
cblr-13858	1139	121	the	the	DET
cblr-13858	1139	122	investors	investor	NOUN
cblr-13858	1139	123	.	.	PUNCT
cblr-13858	1140	1	287	287	NUM
cblr-13858	1140	2	david	david	PROPN
cblr-13858	1140	3	lipton	lipton	PROPN
cblr-13858	1140	4	reads	read	VERB
cblr-13858	1140	5	these	these	DET
cblr-13858	1140	6	letters	letter	NOUN
cblr-13858	1140	7	as	as	ADP
cblr-13858	1140	8	allowing	allow	VERB
cblr-13858	1140	9	finders	finder	NOUN
cblr-13858	1140	10	to	to	PART
cblr-13858	1140	11	receive	receive	VERB
cblr-13858	1140	12	transaction	transaction	NOUN
cblr-13858	1140	13	-	-	PUNCT
cblr-13858	1140	14	based	base	VERB
cblr-13858	1140	15	compensation	compensation	NOUN
cblr-13858	1140	16	only	only	ADV
cblr-13858	1140	17	if	if	SCONJ
cblr-13858	1140	18	the	the	DET
cblr-13858	1140	19	finder	finder	NOUN
cblr-13858	1140	20	is	be	AUX
cblr-13858	1140	21	"	"	PUNCT
cblr-13858	1140	22	totally	totally	ADV
cblr-13858	1140	23	isolated	isolate	VERB
cblr-13858	1140	24	from	from	ADP
cblr-13858	1140	25	the	the	DET
cblr-13858	1140	26	process	process	NOUN
cblr-13858	1140	27	of	of	ADP
cblr-13858	1140	28	selling	sell	VERB
cblr-13858	1140	29	the	the	DET
cblr-13858	1140	30	units	unit	NOUN
cblr-13858	1140	31	.	.	PUNCT
cblr-13858	1141	1	"28	"28	PROPN
cblr-13858	1141	2	8	8	NUM
cblr-13858	1141	3	in	in	ADP
cblr-13858	1141	4	such	such	ADJ
cblr-13858	1141	5	cases	case	NOUN
cblr-13858	1141	6	,	,	PUNCT
cblr-13858	1141	7	the	the	DET
cblr-13858	1141	8	finder	finder	NOUN
cblr-13858	1141	9	can	can	AUX
cblr-13858	1141	10	not	not	PART
cblr-13858	1141	11	act	act	VERB
cblr-13858	1141	12	on	on	ADP
cblr-13858	1141	13	the	the	DET
cblr-13858	1141	14	incentive	incentive	NOUN
cblr-13858	1141	15	"	"	PUNCT
cblr-13858	1141	16	to	to	PART
cblr-13858	1141	17	engage	engage	VERB
cblr-13858	1141	18	in	in	ADP
cblr-13858	1141	19	21	21	NUM
cblr-13858	1141	20	sec	sec	PROPN
cblr-13858	1141	21	v.	v.	PROPN
cblr-13858	1141	22	kramer	kramer	PROPN
cblr-13858	1141	23	,	,	PUNCT
cblr-13858	1141	24	778	778	NUM
cblr-13858	1141	25	f.	f.	PROPN
cblr-13858	1141	26	supp	supp	PROPN
cblr-13858	1141	27	.	.	PUNCT
cblr-13858	1142	1	2d	2d	PROPN
cblr-13858	1142	2	1320	1320	NUM
cblr-13858	1142	3	,	,	PUNCT
cblr-13858	1142	4	1334	1334	NUM
cblr-13858	1142	5	(	(	PUNCT
cblr-13858	1142	6	m.d	m.d	PROPN
cblr-13858	1142	7	.	.	PROPN
cblr-13858	1142	8	fla	fla	PROPN
cblr-13858	1142	9	.	.	PUNCT
cblr-13858	1143	1	2011	2011	NUM
cblr-13858	1143	2	)	)	PUNCT
cblr-13858	1143	3	.	.	PUNCT
cblr-13858	1144	1	284	284	NUM
cblr-13858	1145	1	i	i	PRON
cblr-13858	1145	2	d.	d.	PROPN
cblr-13858	1145	3	at	at	ADP
cblr-13858	1145	4	1336	1336	NUM
cblr-13858	1145	5	,	,	PUNCT
cblr-13858	1145	6	1338	1338	NUM
cblr-13858	1145	7	-	-	SYM
cblr-13858	1145	8	39	39	NUM
cblr-13858	1145	9	.	.	PUNCT
cblr-13858	1146	1	285	285	NUM
cblr-13858	1146	2	paul	paul	PROPN
cblr-13858	1146	3	anka	anka	PROPN
cblr-13858	1146	4	,	,	PUNCT
cblr-13858	1146	5	sec	sec	PROPN
cblr-13858	1146	6	no	no	DET
cblr-13858	1146	7	-	-	PUNCT
cblr-13858	1146	8	action	action	NOUN
cblr-13858	1146	9	letter	letter	NOUN
cblr-13858	1146	10	,	,	PUNCT
cblr-13858	1146	11	1991	1991	NUM
cblr-13858	1146	12	wl	wl	SYM
cblr-13858	1146	13	176891	176891	NUM
cblr-13858	1146	14	(	(	PUNCT
cblr-13858	1146	15	july	july	PROPN
cblr-13858	1146	16	24	24	NUM
cblr-13858	1146	17	,	,	PUNCT
cblr-13858	1146	18	1991	1991	NUM
cblr-13858	1146	19	)	)	PUNCT
cblr-13858	1147	1	[	[	X
cblr-13858	1147	2	hereinafter	hereinafter	NOUN
cblr-13858	1147	3	anka	anka	PROPN
cblr-13858	1147	4	no	no	PROPN
cblr-13858	1147	5	-	-	PUNCT
cblr-13858	1147	6	action	action	NOUN
cblr-13858	1147	7	letter	letter	NOUN
cblr-13858	1147	8	]	]	PUNCT
cblr-13858	1147	9	.	.	PUNCT
cblr-13858	1148	1	28	28	NUM
cblr-13858	1148	2	see	see	VERB
cblr-13858	1148	3	dana	dana	PROPN
cblr-13858	1148	4	inv	inv	PROPN
cblr-13858	1148	5	.	.	PUNCT
cblr-13858	1149	1	advisers	advisers	PROPN
cblr-13858	1149	2	,	,	PUNCT
cblr-13858	1149	3	inc	inc	PROPN
cblr-13858	1149	4	.	.	PROPN
cblr-13858	1149	5	,	,	PUNCT
cblr-13858	1149	6	sec	sec	PROPN
cblr-13858	1149	7	no	no	DET
cblr-13858	1149	8	-	-	PUNCT
cblr-13858	1149	9	action	action	NOUN
cblr-13858	1149	10	letter	letter	NOUN
cblr-13858	1149	11	,	,	PUNCT
cblr-13858	1149	12	1994	1994	NUM
cblr-13858	1149	13	wl	wl	PROPN
cblr-13858	1149	14	718968	718968	NUM
cblr-13858	1149	15	(	(	PUNCT
cblr-13858	1149	16	oct	oct	PROPN
cblr-13858	1149	17	.	.	PROPN
cblr-13858	1149	18	12	12	NUM
cblr-13858	1149	19	,	,	PUNCT
cblr-13858	1149	20	1994	1994	NUM
cblr-13858	1149	21	)	)	PUNCT
cblr-13858	1149	22	;	;	PUNCT
cblr-13858	1149	23	john	john	PROPN
cblr-13858	1149	24	dimeno	dimeno	PROPN
cblr-13858	1149	25	,	,	PUNCT
cblr-13858	1149	26	sec	sec	PROPN
cblr-13858	1149	27	no	no	DET
cblr-13858	1149	28	-	-	PUNCT
cblr-13858	1149	29	action	action	NOUN
cblr-13858	1149	30	letter	letter	NOUN
cblr-13858	1149	31	,	,	PUNCT
cblr-13858	1149	32	1979	1979	NUM
cblr-13858	1149	33	wl	wl	NOUN
cblr-13858	1149	34	13717	13717	NUM
cblr-13858	1149	35	(	(	PUNCT
cblr-13858	1149	36	apr	apr	PROPN
cblr-13858	1149	37	.	.	PROPN
cblr-13858	1149	38	1	1	NUM
cblr-13858	1149	39	,	,	PUNCT
cblr-13858	1149	40	1979	1979	NUM
cblr-13858	1149	41	)	)	PUNCT
cblr-13858	1149	42	(	(	PUNCT
cblr-13858	1149	43	reconsidering	reconsider	VERB
cblr-13858	1149	44	john	john	PROPN
cblr-13858	1149	45	dimeno	dimeno	PROPN
cblr-13858	1149	46	,	,	PUNCT
cblr-13858	1149	47	sec	sec	PROPN
cblr-13858	1149	48	no	no	DET
cblr-13858	1149	49	-	-	PUNCT
cblr-13858	1149	50	action	action	NOUN
cblr-13858	1149	51	letter	letter	NOUN
cblr-13858	1149	52	,	,	PUNCT
cblr-13858	1149	53	1978	1978	NUM
cblr-13858	1149	54	wl	wl	PROPN
cblr-13858	1149	55	12130	12130	NUM
cblr-13858	1149	56	(	(	PUNCT
cblr-13858	1149	57	oct	oct	PROPN
cblr-13858	1149	58	.	.	PROPN
cblr-13858	1149	59	11	11	NUM
cblr-13858	1149	60	,	,	PUNCT
cblr-13858	1149	61	1978	1978	NUM
cblr-13858	1149	62	)	)	PUNCT
cblr-13858	1149	63	)	)	PUNCT
cblr-13858	1149	64	;	;	PUNCT
cblr-13858	1149	65	moana	moana	PROPN
cblr-13858	1149	66	/	/	SYM
cblr-13858	1149	67	kauai	kauai	PROPN
cblr-13858	1149	68	corp	corp	PROPN
cblr-13858	1149	69	.	.	PROPN
cblr-13858	1149	70	,	,	PUNCT
cblr-13858	1149	71	sec	sec	PROPN
cblr-13858	1149	72	no	no	DET
cblr-13858	1149	73	-	-	PUNCT
cblr-13858	1149	74	action	action	NOUN
cblr-13858	1149	75	letter	letter	NOUN
cblr-13858	1149	76	,	,	PUNCT
cblr-13858	1149	77	1974	1974	NUM
cblr-13858	1149	78	wl	wl	NOUN
cblr-13858	1149	79	8804	8804	NUM
cblr-13858	1149	80	(	(	PUNCT
cblr-13858	1149	81	aug	aug	PROPN
cblr-13858	1149	82	.	.	PROPN
cblr-13858	1149	83	10	10	NUM
cblr-13858	1149	84	,	,	PUNCT
cblr-13858	1149	85	1974	1974	NUM
cblr-13858	1149	86	)	)	PUNCT
cblr-13858	1149	87	.	.	PUNCT
cblr-13858	1150	1	287	287	NUM
cblr-13858	1150	2	anka	anka	PROPN
cblr-13858	1150	3	no	no	DET
cblr-13858	1150	4	-	-	PUNCT
cblr-13858	1150	5	action	action	NOUN
cblr-13858	1150	6	letter	letter	NOUN
cblr-13858	1150	7	,	,	PUNCT
cblr-13858	1150	8	supra	supra	PROPN
cblr-13858	1150	9	note	note	NOUN
cblr-13858	1150	10	285	285	NUM
cblr-13858	1150	11	.	.	PUNCT
cblr-13858	1151	1	anka	anka	PROPN
cblr-13858	1151	2	was	be	AUX
cblr-13858	1151	3	doing	do	VERB
cblr-13858	1151	4	this	this	PRON
cblr-13858	1151	5	on	on	ADP
cblr-13858	1151	6	a	a	DET
cblr-13858	1151	7	one	one	NUM
cblr-13858	1151	8	-	-	PUNCT
cblr-13858	1151	9	time	time	NOUN
cblr-13858	1151	10	basis	basis	NOUN
cblr-13858	1151	11	,	,	PUNCT
cblr-13858	1151	12	so	so	ADV
cblr-13858	1151	13	,	,	PUNCT
cblr-13858	1151	14	even	even	ADV
cblr-13858	1151	15	if	if	SCONJ
cblr-13858	1151	16	he	he	PRON
cblr-13858	1151	17	was	be	AUX
cblr-13858	1151	18	effecting	effect	VERB
cblr-13858	1151	19	transactions	transaction	NOUN
cblr-13858	1151	20	in	in	ADP
cblr-13858	1151	21	securities	security	NOUN
cblr-13858	1151	22	,	,	PUNCT
cblr-13858	1151	23	he	he	PRON
cblr-13858	1151	24	arguably	arguably	ADV
cblr-13858	1151	25	was	be	AUX
cblr-13858	1151	26	not	not	PART
cblr-13858	1151	27	in	in	ADP
cblr-13858	1151	28	the	the	DET
cblr-13858	1151	29	business	business	NOUN
cblr-13858	1151	30	of	of	ADP
cblr-13858	1151	31	doing	do	VERB
cblr-13858	1151	32	so	so	ADV
cblr-13858	1151	33	,	,	PUNCT
cblr-13858	1151	34	and	and	CCONJ
cblr-13858	1151	35	would	would	AUX
cblr-13858	1151	36	not	not	PART
cblr-13858	1151	37	be	be	AUX
cblr-13858	1151	38	a	a	DET
cblr-13858	1151	39	broker	broker	NOUN
cblr-13858	1151	40	for	for	ADP
cblr-13858	1151	41	this	this	DET
cblr-13858	1151	42	reason	reason	NOUN
cblr-13858	1151	43	as	as	ADV
cblr-13858	1151	44	well	well	ADV
cblr-13858	1151	45	.	.	PUNCT
cblr-13858	1152	1	28	28	NUM
cblr-13858	1152	2	lipton	lipton	PROPN
cblr-13858	1152	3	,	,	PUNCT
cblr-13858	1152	4	supra	supra	PROPN
cblr-13858	1152	5	note	note	PROPN
cblr-13858	1152	6	253	253	NUM
cblr-13858	1152	7	,	,	PUNCT
cblr-13858	1152	8	at	at	ADP
cblr-13858	1152	9	1	1	NUM
cblr-13858	1152	10	-	-	SYM
cblr-13858	1152	11	87	87	NUM
cblr-13858	1152	12	.	.	PUNCT
cblr-13858	1152	13	58	58	NUM
cblr-13858	1153	1	[	[	X
cblr-13858	1153	2	vol	vol	NOUN
cblr-13858	1153	3	.	.	PUNCT
cblr-13858	1153	4	2012	2012	NUM
cblr-13858	1153	5	abusive	abusive	ADJ
cblr-13858	1153	6	or	or	CCONJ
cblr-13858	1153	7	sharp	sharp	ADJ
cblr-13858	1153	8	selling	selling	NOUN
cblr-13858	1153	9	practices	practice	NOUN
cblr-13858	1153	10	"	"	PUNCT
cblr-13858	1153	11	that	that	SCONJ
cblr-13858	1153	12	transaction	transaction	NOUN
cblr-13858	1153	13	-	-	PUNCT
cblr-13858	1153	14	based	base	VERB
cblr-13858	1153	15	compensation	compensation	NOUN
cblr-13858	1153	16	might	might	AUX
cblr-13858	1153	17	otherwise	otherwise	ADV
cblr-13858	1153	18	create.2	create.2	PROPN
cblr-13858	1153	19	89	89	NUM
cblr-13858	1153	20	finders	finder	NOUN
cblr-13858	1153	21	who	who	PRON
cblr-13858	1153	22	go	go	VERB
cblr-13858	1153	23	beyond	beyond	ADP
cblr-13858	1153	24	simple	simple	ADJ
cblr-13858	1153	25	introductions	introduction	NOUN
cblr-13858	1153	26	risk	risk	NOUN
cblr-13858	1153	27	being	be	AUX
cblr-13858	1153	28	treated	treat	VERB
cblr-13858	1153	29	as	as	ADP
cblr-13858	1153	30	brokers	broker	NOUN
cblr-13858	1153	31	if	if	SCONJ
cblr-13858	1153	32	they	they	PRON
cblr-13858	1153	33	receive	receive	VERB
cblr-13858	1153	34	transaction	transaction	NOUN
cblr-13858	1153	35	-	-	PUNCT
cblr-13858	1153	36	based	base	VERB
cblr-13858	1153	37	compensation	compensation	NOUN
cblr-13858	1153	38	.	.	PUNCT
cblr-13858	1154	1	involvement	involvement	NOUN
cblr-13858	1154	2	in	in	ADP
cblr-13858	1154	3	structuring	structure	VERB
cblr-13858	1154	4	or	or	CCONJ
cblr-13858	1154	5	negotiating	negotiate	VERB
cblr-13858	1154	6	the	the	DET
cblr-13858	1154	7	terms	term	NOUN
cblr-13858	1154	8	of	of	ADP
cblr-13858	1154	9	a	a	DET
cblr-13858	1154	10	securities	security	NOUN
cblr-13858	1154	11	transaction	transaction	NOUN
cblr-13858	1154	12	would	would	AUX
cblr-13858	1154	13	make	make	VERB
cblr-13858	1154	14	one	one	PRON
cblr-13858	1154	15	a	a	DET
cblr-13858	1154	16	broker	broker	NOUN
cblr-13858	1154	17	under	under	ADP
cblr-13858	1154	18	the	the	DET
cblr-13858	1154	19	sec	sec	PROPN
cblr-13858	1154	20	's	's	PART
cblr-13858	1154	21	analysis.290	analysis.290	NOUN
cblr-13858	1154	22	if	if	SCONJ
cblr-13858	1154	23	one	one	PRON
cblr-13858	1154	24	receives	receive	VERB
cblr-13858	1154	25	transactionbased	transactionbase	VERB
cblr-13858	1154	26	compensation	compensation	NOUN
cblr-13858	1154	27	,	,	PUNCT
cblr-13858	1154	28	merely	merely	ADV
cblr-13858	1154	29	contacting	contact	VERB
cblr-13858	1154	30	investors	investor	NOUN
cblr-13858	1154	31	and	and	CCONJ
cblr-13858	1154	32	describing	describe	VERB
cblr-13858	1154	33	the	the	DET
cblr-13858	1154	34	deal	deal	NOUN
cblr-13858	1154	35	in	in	ADP
cblr-13858	1154	36	general	general	ADJ
cblr-13858	1154	37	terms	term	NOUN
cblr-13858	1154	38	may	may	AUX
cblr-13858	1154	39	cross	cross	VERB
cblr-13858	1154	40	the	the	DET
cblr-13858	1154	41	line	line	NOUN
cblr-13858	1154	42	between	between	ADP
cblr-13858	1154	43	broker	broker	NOUN
cblr-13858	1154	44	and	and	CCONJ
cblr-13858	1154	45	non	non	ADJ
cblr-13858	1154	46	-	-	ADJ
cblr-13858	1154	47	broker.29	broker.29	ADJ
cblr-13858	1154	48	1	1	NUM
cblr-13858	1154	49	paul	paul	PROPN
cblr-13858	1154	50	anka	anka	PROPN
cblr-13858	1154	51	had	have	AUX
cblr-13858	1154	52	originally	originally	ADV
cblr-13858	1154	53	proposed	propose	VERB
cblr-13858	1154	54	to	to	PART
cblr-13858	1154	55	contact	contact	VERB
cblr-13858	1154	56	the	the	DET
cblr-13858	1154	57	investors	investor	NOUN
cblr-13858	1154	58	to	to	PART
cblr-13858	1154	59	describe	describe	VERB
cblr-13858	1154	60	the	the	DET
cblr-13858	1154	61	potential	potential	ADJ
cblr-13858	1154	62	investment	investment	NOUN
cblr-13858	1154	63	and	and	CCONJ
cblr-13858	1154	64	forward	forward	ADJ
cblr-13858	1154	65	investors	investor	NOUN
cblr-13858	1154	66	'	'	PART
cblr-13858	1154	67	names	name	NOUN
cblr-13858	1154	68	to	to	ADP
cblr-13858	1154	69	the	the	DET
cblr-13858	1154	70	club	club	NOUN
cblr-13858	1154	71	only	only	ADV
cblr-13858	1154	72	if	if	SCONJ
cblr-13858	1154	73	they	they	PRON
cblr-13858	1154	74	expressed	express	VERB
cblr-13858	1154	75	interest	interest	NOUN
cblr-13858	1154	76	.	.	PUNCT
cblr-13858	1155	1	the	the	DET
cblr-13858	1155	2	sec	sec	PROPN
cblr-13858	1155	3	staff	staff	NOUN
cblr-13858	1155	4	granted	grant	VERB
cblr-13858	1155	5	the	the	DET
cblr-13858	1155	6	request	request	NOUN
cblr-13858	1155	7	only	only	ADV
cblr-13858	1155	8	after	after	ADP
cblr-13858	1155	9	a	a	DET
cblr-13858	1155	10	follow	follow	VERB
cblr-13858	1155	11	-	-	PUNCT
cblr-13858	1155	12	up	up	ADP
cblr-13858	1155	13	letter	letter	NOUN
cblr-13858	1155	14	limited	limit	VERB
cblr-13858	1155	15	anka	anka	PROPN
cblr-13858	1155	16	's	's	PART
cblr-13858	1155	17	role	role	NOUN
cblr-13858	1155	18	to	to	ADP
cblr-13858	1155	19	providing	provide	VERB
cblr-13858	1155	20	names	name	NOUN
cblr-13858	1155	21	.	.	PUNCT
cblr-13858	1156	1	292	292	NUM
cblr-13858	1156	2	the	the	DET
cblr-13858	1156	3	sec	sec	PROPN
cblr-13858	1156	4	staff	staff	NOUN
cblr-13858	1156	5	may	may	AUX
cblr-13858	1156	6	no	no	ADV
cblr-13858	1156	7	longer	long	ADV
cblr-13858	1156	8	accept	accept	VERB
cblr-13858	1156	9	even	even	ADV
cblr-13858	1156	10	the	the	DET
cblr-13858	1156	11	limited	limited	ADJ
cblr-13858	1156	12	position	position	NOUN
cblr-13858	1156	13	it	it	PRON
cblr-13858	1156	14	took	take	VERB
cblr-13858	1156	15	in	in	ADP
cblr-13858	1156	16	the	the	DET
cblr-13858	1156	17	paul	paul	PROPN
cblr-13858	1156	18	anka	anka	PROPN
cblr-13858	1156	19	letter	letter	PROPN
cblr-13858	1156	20	.	.	PUNCT
cblr-13858	1157	1	293	293	NUM
cblr-13858	1157	2	it	it	PRON
cblr-13858	1157	3	currently	currently	ADV
cblr-13858	1157	4	views	view	VERB
cblr-13858	1157	5	the	the	DET
cblr-13858	1157	6	limited	limited	ADJ
cblr-13858	1157	7	activity	activity	NOUN
cblr-13858	1157	8	of	of	ADP
cblr-13858	1157	9	introducing	introduce	VERB
cblr-13858	1157	10	a	a	DET
cblr-13858	1157	11	potential	potential	ADJ
cblr-13858	1157	12	buyer	buyer	NOUN
cblr-13858	1157	13	and	and	CCONJ
cblr-13858	1157	14	seller	seller	NOUN
cblr-13858	1157	15	of	of	ADP
cblr-13858	1157	16	securities	security	NOUN
cblr-13858	1157	17	"	"	PUNCT
cblr-13858	1157	18	with	with	ADP
cblr-13858	1157	19	skepticism	skepticism	NOUN
cblr-13858	1157	20	when	when	SCONJ
cblr-13858	1157	21	coupled	couple	VERB
cblr-13858	1157	22	with	with	ADP
cblr-13858	1157	23	transaction	transaction	NOUN
cblr-13858	1157	24	-	-	PUNCT
cblr-13858	1157	25	based	base	VERB
cblr-13858	1157	26	compensation	compensation	NOUN
cblr-13858	1157	27	.	.	PUNCT
cblr-13858	1158	1	"	"	PUNCT
cblr-13858	1158	2	294	294	NUM
cblr-13858	1158	3	289	289	NUM
cblr-13858	1158	4	orcutt	orcutt	NOUN
cblr-13858	1158	5	,	,	PUNCT
cblr-13858	1158	6	supra	supra	PROPN
cblr-13858	1158	7	note	note	NOUN
cblr-13858	1158	8	255	255	NUM
cblr-13858	1158	9	,	,	PUNCT
cblr-13858	1158	10	at	at	ADP
cblr-13858	1158	11	911	911	NUM
cblr-13858	1158	12	-	-	SYM
cblr-13858	1158	13	12	12	NUM
cblr-13858	1158	14	.	.	PUNCT
cblr-13858	1159	1	see	see	VERB
cblr-13858	1159	2	also	also	ADV
cblr-13858	1159	3	lipton	lipton	PROPN
cblr-13858	1159	4	,	,	PUNCT
cblr-13858	1159	5	supra	supra	PROPN
cblr-13858	1159	6	note	note	PROPN
cblr-13858	1159	7	253	253	NUM
cblr-13858	1159	8	,	,	PUNCT
cblr-13858	1159	9	at	at	ADP
cblr-13858	1159	10	1	1	NUM
cblr-13858	1159	11	-	-	SYM
cblr-13858	1159	12	87	87	NUM
cblr-13858	1159	13	;	;	PUNCT
cblr-13858	1159	14	polanin	polanin	ADJ
cblr-13858	1159	15	,	,	PUNCT
cblr-13858	1159	16	supra	supra	PROPN
cblr-13858	1159	17	note	note	PROPN
cblr-13858	1159	18	282	282	NUM
cblr-13858	1159	19	,	,	PUNCT
cblr-13858	1159	20	at	at	ADP
cblr-13858	1159	21	814	814	NUM
cblr-13858	1159	22	.	.	PUNCT
cblr-13858	1160	1	290	290	NUM
cblr-13858	1160	2	see	see	NOUN
cblr-13858	1160	3	.	.	PUNCT
cblr-13858	1160	4	,	,	PUNCT
cblr-13858	1160	5	e.g.	e.g.	ADV
cblr-13858	1160	6	,	,	PUNCT
cblr-13858	1160	7	ram	ram	NOUN
cblr-13858	1160	8	capital	capital	NOUN
cblr-13858	1160	9	res	re	NOUN
cblr-13858	1160	10	.	.	PROPN
cblr-13858	1160	11	,	,	PUNCT
cblr-13858	1160	12	llc	llc	PROPN
cblr-13858	1160	13	,	,	PUNCT
cblr-13858	1160	14	exch	exch	PROPN
cblr-13858	1160	15	.	.	PUNCT
cblr-13858	1161	1	act	act	PROPN
cblr-13858	1161	2	release	release	VERB
cblr-13858	1161	3	no	no	NOUN
cblr-13858	1161	4	.	.	NOUN
cblr-13858	1161	5	34	34	NUM
cblr-13858	1161	6	-	-	SYM
cblr-13858	1161	7	60149	60149	NUM
cblr-13858	1161	8	,	,	PUNCT
cblr-13858	1161	9	96	96	NUM
cblr-13858	1161	10	s.e.c	s.e.c	NOUN
cblr-13858	1161	11	.	.	PUNCT
cblr-13858	1162	1	docket	docket	NOUN
cblr-13858	1162	2	459	459	NUM
cblr-13858	1162	3	,	,	PUNCT
cblr-13858	1162	4	2009	2009	NUM
cblr-13858	1162	5	wl	wl	SYM
cblr-13858	1162	6	1723950	1723950	NUM
cblr-13858	1162	7	(	(	PUNCT
cblr-13858	1162	8	june	june	PROPN
cblr-13858	1162	9	19	19	NUM
cblr-13858	1162	10	,	,	PUNCT
cblr-13858	1162	11	2009	2009	NUM
cblr-13858	1162	12	)	)	PUNCT
cblr-13858	1162	13	;	;	PUNCT
cblr-13858	1162	14	mike	mike	PROPN
cblr-13858	1162	15	bantuveris	bantuveris	PROPN
cblr-13858	1162	16	,	,	PUNCT
cblr-13858	1162	17	sec	sec	PROPN
cblr-13858	1162	18	no	no	DET
cblr-13858	1162	19	-	-	PUNCT
cblr-13858	1162	20	action	action	NOUN
cblr-13858	1162	21	letter	letter	NOUN
cblr-13858	1162	22	,	,	PUNCT
cblr-13858	1162	23	1975	1975	NUM
cblr-13858	1162	24	wl	wl	NOUN
cblr-13858	1162	25	10654	10654	NUM
cblr-13858	1162	26	(	(	PUNCT
cblr-13858	1162	27	sept	sept	PROPN
cblr-13858	1162	28	.	.	PROPN
cblr-13858	1162	29	23	23	NUM
cblr-13858	1162	30	,	,	PUNCT
cblr-13858	1162	31	1975	1975	NUM
cblr-13858	1162	32	)	)	PUNCT
cblr-13858	1162	33	;	;	PUNCT
cblr-13858	1162	34	may	may	PROPN
cblr-13858	1162	35	-	-	PUNCT
cblr-13858	1162	36	pac	pac	PROPN
cblr-13858	1162	37	mgmt	mgmt	PROPN
cblr-13858	1162	38	.	.	PROPN
cblr-13858	1162	39	co.	co.	PROPN
cblr-13858	1162	40	,	,	PUNCT
cblr-13858	1162	41	sec	sec	PROPN
cblr-13858	1162	42	no	no	DET
cblr-13858	1162	43	-	-	PUNCT
cblr-13858	1162	44	action	action	NOUN
cblr-13858	1162	45	letter	letter	NOUN
cblr-13858	1162	46	,	,	PUNCT
cblr-13858	1162	47	1973	1973	NUM
cblr-13858	1162	48	wl	wl	PROPN
cblr-13858	1162	49	10806	10806	NUM
cblr-13858	1162	50	(	(	PUNCT
cblr-13858	1162	51	nov	nov	PROPN
cblr-13858	1162	52	.	.	PROPN
cblr-13858	1162	53	20	20	NUM
cblr-13858	1162	54	,	,	PUNCT
cblr-13858	1162	55	1973	1973	NUM
cblr-13858	1162	56	)	)	PUNCT
cblr-13858	1162	57	;	;	PUNCT
cblr-13858	1162	58	fulham	fulham	PROPN
cblr-13858	1162	59	&	&	CCONJ
cblr-13858	1162	60	co.	co.	PROPN
cblr-13858	1162	61	,	,	PUNCT
cblr-13858	1162	62	inc	inc	PROPN
cblr-13858	1162	63	.	.	PROPN
cblr-13858	1162	64	,	,	PUNCT
cblr-13858	1162	65	sec	sec	PROPN
cblr-13858	1162	66	no	no	DET
cblr-13858	1162	67	-	-	PUNCT
cblr-13858	1162	68	action	action	NOUN
cblr-13858	1162	69	letter	letter	NOUN
cblr-13858	1162	70	,	,	PUNCT
cblr-13858	1162	71	1972	1972	NUM
cblr-13858	1162	72	wl	wl	PROPN
cblr-13858	1162	73	9129	9129	NUM
cblr-13858	1162	74	(	(	PUNCT
cblr-13858	1162	75	nov	nov	PROPN
cblr-13858	1162	76	.	.	PROPN
cblr-13858	1162	77	20	20	NUM
cblr-13858	1162	78	,	,	PUNCT
cblr-13858	1162	79	1972	1972	NUM
cblr-13858	1162	80	)	)	PUNCT
cblr-13858	1162	81	.	.	PUNCT
cblr-13858	1163	1	29	29	NUM
cblr-13858	1163	2	'	'	PUNCT
cblr-13858	1163	3	see	see	VERB
cblr-13858	1163	4	richard	richard	PROPN
cblr-13858	1163	5	s.	s.	PROPN
cblr-13858	1163	6	appel	appel	PROPN
cblr-13858	1163	7	,	,	PUNCT
cblr-13858	1163	8	sec	sec	PROPN
cblr-13858	1163	9	no	no	DET
cblr-13858	1163	10	-	-	PUNCT
cblr-13858	1163	11	action	action	NOUN
cblr-13858	1163	12	letter	letter	NOUN
cblr-13858	1163	13	,	,	PUNCT
cblr-13858	1163	14	1983	1983	NUM
cblr-13858	1163	15	wl	wl	NOUN
cblr-13858	1163	16	30911	30911	NUM
cblr-13858	1163	17	,	,	PUNCT
cblr-13858	1163	18	at	at	ADP
cblr-13858	1163	19	*	*	NOUN
cblr-13858	1163	20	1	1	NUM
cblr-13858	1163	21	(	(	PUNCT
cblr-13858	1163	22	jan	jan	PROPN
cblr-13858	1163	23	.	.	PROPN
cblr-13858	1163	24	13	13	NUM
cblr-13858	1163	25	,	,	PUNCT
cblr-13858	1163	26	1983	1983	NUM
cblr-13858	1163	27	)	)	PUNCT
cblr-13858	1163	28	(	(	PUNCT
cblr-13858	1163	29	denying	deny	VERB
cblr-13858	1163	30	a	a	DET
cblr-13858	1163	31	no	no	DET
cblr-13858	1163	32	-	-	PUNCT
cblr-13858	1163	33	action	action	NOUN
cblr-13858	1163	34	request	request	NOUN
cblr-13858	1163	35	from	from	ADP
cblr-13858	1163	36	a	a	DET
cblr-13858	1163	37	finder	finder	NOUN
cblr-13858	1163	38	whose	whose	DET
cblr-13858	1163	39	only	only	ADJ
cblr-13858	1163	40	role	role	NOUN
cblr-13858	1163	41	would	would	AUX
cblr-13858	1163	42	be	be	AUX
cblr-13858	1163	43	to	to	PART
cblr-13858	1163	44	contact	contact	VERB
cblr-13858	1163	45	existing	exist	VERB
cblr-13858	1163	46	business	business	NOUN
cblr-13858	1163	47	associates	associate	NOUN
cblr-13858	1163	48	and	and	CCONJ
cblr-13858	1163	49	friends	friend	NOUN
cblr-13858	1163	50	,	,	PUNCT
cblr-13858	1163	51	describe	describe	VERB
cblr-13858	1163	52	potential	potential	ADJ
cblr-13858	1163	53	oil	oil	NOUN
cblr-13858	1163	54	and	and	CCONJ
cblr-13858	1163	55	gas	gas	NOUN
cblr-13858	1163	56	investments	investment	NOUN
cblr-13858	1163	57	in	in	ADP
cblr-13858	1163	58	general	general	ADJ
cblr-13858	1163	59	terms	term	NOUN
cblr-13858	1163	60	,	,	PUNCT
cblr-13858	1163	61	and	and	CCONJ
cblr-13858	1163	62	provide	provide	VERB
cblr-13858	1163	63	the	the	DET
cblr-13858	1163	64	approximate	approximate	ADJ
cblr-13858	1163	65	cost	cost	NOUN
cblr-13858	1163	66	of	of	ADP
cblr-13858	1163	67	drilling	drill	VERB
cblr-13858	1163	68	a	a	DET
cblr-13858	1163	69	well	well	NOUN
cblr-13858	1163	70	)	)	PUNCT
cblr-13858	1163	71	.	.	PUNCT
cblr-13858	1164	1	292	292	NUM
cblr-13858	1164	2	anka	anka	PROPN
cblr-13858	1164	3	no	no	DET
cblr-13858	1164	4	-	-	PUNCT
cblr-13858	1164	5	action	action	NOUN
cblr-13858	1164	6	letter	letter	NOUN
cblr-13858	1164	7	,	,	PUNCT
cblr-13858	1164	8	supra	supra	PROPN
cblr-13858	1164	9	note	note	NOUN
cblr-13858	1164	10	285	285	NUM
cblr-13858	1164	11	.	.	PUNCT
cblr-13858	1164	12	293	293	NUM
cblr-13858	1164	13	see	see	VERB
cblr-13858	1164	14	task	task	NOUN
cblr-13858	1164	15	force	force	NOUN
cblr-13858	1164	16	on	on	ADP
cblr-13858	1164	17	private	private	ADJ
cblr-13858	1164	18	placement	placement	NOUN
cblr-13858	1164	19	broker	broker	NOUN
cblr-13858	1164	20	-	-	PUNCT
cblr-13858	1164	21	dealers	dealer	NOUN
cblr-13858	1164	22	,	,	PUNCT
cblr-13858	1164	23	supra	supra	PROPN
cblr-13858	1164	24	note	note	PROPN
cblr-13858	1164	25	280	280	NUM
cblr-13858	1164	26	,	,	PUNCT
cblr-13858	1164	27	at	at	ADP
cblr-13858	1164	28	977	977	NUM
cblr-13858	1164	29	(	(	PUNCT
cblr-13858	1164	30	"	"	PUNCT
cblr-13858	1164	31	based	base	VERB
cblr-13858	1164	32	on	on	ADP
cblr-13858	1164	33	staff	staff	NOUN
cblr-13858	1164	34	comments	comment	NOUN
cblr-13858	1164	35	at	at	ADP
cblr-13858	1164	36	a	a	DET
cblr-13858	1164	37	recent	recent	ADJ
cblr-13858	1164	38	business	business	NOUN
cblr-13858	1164	39	law	law	NOUN
cblr-13858	1164	40	section	section	NOUN
cblr-13858	1164	41	meeting	meeting	NOUN
cblr-13858	1164	42	,	,	PUNCT
cblr-13858	1164	43	the	the	DET
cblr-13858	1164	44	sec	sec	PROPN
cblr-13858	1164	45	staff	staff	NOUN
cblr-13858	1164	46	may	may	AUX
cblr-13858	1164	47	...	...	PUNCT
cblr-13858	1164	48	be	be	AUX
cblr-13858	1164	49	reconsidering	reconsider	VERB
cblr-13858	1164	50	its	its	PRON
cblr-13858	1164	51	position	position	NOUN
cblr-13858	1164	52	in	in	ADP
cblr-13858	1164	53	the	the	DET
cblr-13858	1164	54	paul	paul	PROPN
cblr-13858	1164	55	anka	anka	PROPN
cblr-13858	1164	56	letter	letter	PROPN
cblr-13858	1164	57	situation	situation	NOUN
cblr-13858	1164	58	and	and	CCONJ
cblr-13858	1164	59	might	might	AUX
cblr-13858	1164	60	not	not	PART
cblr-13858	1164	61	issue	issue	VERB
cblr-13858	1164	62	such	such	DET
cblr-13858	1164	63	a	a	DET
cblr-13858	1164	64	letter	letter	NOUN
cblr-13858	1164	65	today	today	NOUN
cblr-13858	1164	66	.	.	PUNCT
cblr-13858	1164	67	"	"	PUNCT
cblr-13858	1164	68	)	)	PUNCT
cblr-13858	1164	69	.	.	PUNCT
cblr-13858	1165	1	294	294	NUM
cblr-13858	1165	2	i	i	PRON
cblr-13858	1165	3	d.	d.	PROPN
cblr-13858	1165	4	at	at	ADP
cblr-13858	1165	5	966	966	NUM
cblr-13858	1165	6	.	.	PUNCT
cblr-13858	1166	1	59no	59no	NOUN
cblr-13858	1166	2	.	.	PUNCT
cblr-13858	1167	1	1	1	NUM
cblr-13858	1167	2	:	:	SYM
cblr-13858	1167	3	1	1	NUM
cblr-13858	1167	4	]	]	PUNCT
cblr-13858	1167	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1167	6	and	and	CCONJ
cblr-13858	1167	7	securities	security	NOUN
cblr-13858	1167	8	la	la	PRON
cblr-13858	1167	9	ws	ws	PROPN
cblr-13858	1167	10	consider	consider	VERB
cblr-13858	1167	11	,	,	PUNCT
cblr-13858	1167	12	for	for	ADP
cblr-13858	1167	13	example	example	NOUN
cblr-13858	1167	14	,	,	PUNCT
cblr-13858	1167	15	the	the	DET
cblr-13858	1167	16	staffs	staff	NOUN
cblr-13858	1167	17	recent	recent	ADJ
cblr-13858	1167	18	response	response	NOUN
cblr-13858	1167	19	in	in	ADP
cblr-13858	1167	20	brumberg	brumberg	PROPN
cblr-13858	1167	21	,	,	PUNCT
cblr-13858	1167	22	mackey	mackey	PROPN
cblr-13858	1167	23	&	&	CCONJ
cblr-13858	1167	24	wall	wall	PROPN
cblr-13858	1167	25	,	,	PUNCT
cblr-13858	1167	26	p.c	p.c	PROPN
cblr-13858	1167	27	.	.	PUNCT
cblr-13858	1167	28	"	"	PUNCT
cblr-13858	1167	29	'	'	PUNCT
cblr-13858	1167	30	a	a	DET
cblr-13858	1167	31	law	law	NOUN
cblr-13858	1167	32	firm	firm	NOUN
cblr-13858	1167	33	proposed	propose	VERB
cblr-13858	1167	34	to	to	PART
cblr-13858	1167	35	introduce	introduce	VERB
cblr-13858	1167	36	potential	potential	ADJ
cblr-13858	1167	37	investors	investor	NOUN
cblr-13858	1167	38	to	to	ADP
cblr-13858	1167	39	a	a	DET
cblr-13858	1167	40	company	company	NOUN
cblr-13858	1167	41	seeking	seek	VERB
cblr-13858	1167	42	financing	financing	NOUN
cblr-13858	1167	43	in	in	ADP
cblr-13858	1167	44	return	return	NOUN
cblr-13858	1167	45	for	for	ADP
cblr-13858	1167	46	a	a	DET
cblr-13858	1167	47	percentage	percentage	NOUN
cblr-13858	1167	48	of	of	ADP
cblr-13858	1167	49	the	the	DET
cblr-13858	1167	50	money	money	NOUN
cblr-13858	1167	51	raised	raise	VERB
cblr-13858	1167	52	from	from	ADP
cblr-13858	1167	53	those	those	DET
cblr-13858	1167	54	investors	investor	NOUN
cblr-13858	1167	55	.	.	PUNCT
cblr-13858	1168	1	the	the	DET
cblr-13858	1168	2	firm	firm	NOUN
cblr-13858	1168	3	was	be	AUX
cblr-13858	1168	4	not	not	PART
cblr-13858	1168	5	going	go	VERB
cblr-13858	1168	6	to	to	PART
cblr-13858	1168	7	be	be	AUX
cblr-13858	1168	8	involved	involve	VERB
cblr-13858	1168	9	in	in	ADP
cblr-13858	1168	10	negotiations	negotiation	NOUN
cblr-13858	1168	11	,	,	PUNCT
cblr-13858	1168	12	provide	provide	VERB
cblr-13858	1168	13	the	the	DET
cblr-13858	1168	14	potential	potential	ADJ
cblr-13858	1168	15	investors	investor	NOUN
cblr-13858	1168	16	with	with	ADP
cblr-13858	1168	17	any	any	DET
cblr-13858	1168	18	information	information	NOUN
cblr-13858	1168	19	about	about	ADP
cblr-13858	1168	20	the	the	DET
cblr-13858	1168	21	company	company	NOUN
cblr-13858	1168	22	,	,	PUNCT
cblr-13858	1168	23	recommend	recommend	VERB
cblr-13858	1168	24	or	or	CCONJ
cblr-13858	1168	25	have	have	VERB
cblr-13858	1168	26	any	any	DET
cblr-13858	1168	27	responsibility	responsibility	NOUN
cblr-13858	1168	28	for	for	ADP
cblr-13858	1168	29	the	the	DET
cblr-13858	1168	30	terms	term	NOUN
cblr-13858	1168	31	of	of	ADP
cblr-13858	1168	32	any	any	DET
cblr-13858	1168	33	agreement	agreement	NOUN
cblr-13858	1168	34	,	,	PUNCT
cblr-13858	1168	35	or	or	CCONJ
cblr-13858	1168	36	have	have	VERB
cblr-13858	1168	37	any	any	DET
cblr-13858	1168	38	other	other	ADJ
cblr-13858	1168	39	involvement	involvement	NOUN
cblr-13858	1168	40	in	in	ADP
cblr-13858	1168	41	obtaining	obtain	VERB
cblr-13858	1168	42	financing	financing	NOUN
cblr-13858	1168	43	for	for	ADP
cblr-13858	1168	44	the	the	DET
cblr-13858	1168	45	transactions	transaction	NOUN
cblr-13858	1168	46	.	.	PUNCT
cblr-13858	1169	1	in	in	ADP
cblr-13858	1169	2	rejecting	reject	VERB
cblr-13858	1169	3	the	the	DET
cblr-13858	1169	4	request	request	NOUN
cblr-13858	1169	5	,	,	PUNCT
cblr-13858	1169	6	the	the	DET
cblr-13858	1169	7	staff	staff	NOUN
cblr-13858	1169	8	noted	note	VERB
cblr-13858	1169	9	that	that	SCONJ
cblr-13858	1169	10	transaction	transaction	NOUN
cblr-13858	1169	11	-	-	PUNCT
cblr-13858	1169	12	based	base	VERB
cblr-13858	1169	13	compensation	compensation	NOUN
cblr-13858	1169	14	"	"	PUNCT
cblr-13858	1169	15	is	be	AUX
cblr-13858	1169	16	a	a	DET
cblr-13858	1169	17	hallmark	hallmark	NOUN
cblr-13858	1169	18	of	of	ADP
cblr-13858	1169	19	brokerdealer	brokerdealer	NOUN
cblr-13858	1169	20	activity	activity	NOUN
cblr-13858	1169	21	.	.	PUNCT
cblr-13858	1170	1	accordingly	accordingly	ADV
cblr-13858	1170	2	,	,	PUNCT
cblr-13858	1170	3	any	any	DET
cblr-13858	1170	4	person	person	NOUN
cblr-13858	1170	5	receiving	receive	VERB
cblr-13858	1170	6	transaction	transaction	NOUN
cblr-13858	1170	7	-	-	PUNCT
cblr-13858	1170	8	based	base	VERB
cblr-13858	1170	9	compensation	compensation	NOUN
cblr-13858	1170	10	in	in	ADP
cblr-13858	1170	11	connection	connection	NOUN
cblr-13858	1170	12	with	with	ADP
cblr-13858	1170	13	another	another	DET
cblr-13858	1170	14	person	person	NOUN
cblr-13858	1170	15	's	's	PART
cblr-13858	1170	16	purchase	purchase	NOUN
cblr-13858	1170	17	or	or	CCONJ
cblr-13858	1170	18	sale	sale	NOUN
cblr-13858	1170	19	of	of	ADP
cblr-13858	1170	20	securities	security	NOUN
cblr-13858	1170	21	typically	typically	ADV
cblr-13858	1170	22	must	must	AUX
cblr-13858	1170	23	register	register	VERB
cblr-13858	1170	24	as	as	ADP
cblr-13858	1170	25	a	a	DET
cblr-13858	1170	26	broker	broker	NOUN
cblr-13858	1170	27	-	-	PUNCT
cblr-13858	1170	28	dealer	dealer	NOUN
cblr-13858	1170	29	or	or	CCONJ
cblr-13858	1170	30	be	be	AUX
cblr-13858	1170	31	an	an	DET
cblr-13858	1170	32	associated	associated	ADJ
cblr-13858	1170	33	person	person	NOUN
cblr-13858	1170	34	of	of	ADP
cblr-13858	1170	35	a	a	DET
cblr-13858	1170	36	registered	register	VERB
cblr-13858	1170	37	broker	broker	NOUN
cblr-13858	1170	38	-	-	PUNCT
cblr-13858	1170	39	dealer	dealer	NOUN
cblr-13858	1170	40	.	.	PUNCT
cblr-13858	1171	1	"2	"2	PROPN
cblr-13858	1171	2	96	96	NUM
cblr-13858	1171	3	as	as	SCONJ
cblr-13858	1171	4	discussed	discuss	VERB
cblr-13858	1171	5	below	below	ADV
cblr-13858	1171	6	,	,	PUNCT
cblr-13858	1171	7	crowdfunding	crowdfunde	VERB
cblr-13858	1171	8	sites	site	NOUN
cblr-13858	1171	9	typically	typically	ADV
cblr-13858	1171	10	do	do	VERB
cblr-13858	1171	11	more	more	ADJ
cblr-13858	1171	12	than	than	SCONJ
cblr-13858	1171	13	just	just	ADV
cblr-13858	1171	14	bring	bring	VERB
cblr-13858	1171	15	entrepreneurs	entrepreneur	NOUN
cblr-13858	1171	16	together	together	ADV
cblr-13858	1171	17	with	with	ADP
cblr-13858	1171	18	potential	potential	ADJ
cblr-13858	1171	19	investors	investor	NOUN
cblr-13858	1171	20	.	.	PUNCT
cblr-13858	1172	1	they	they	PRON
cblr-13858	1172	2	solicit	solicit	VERB
cblr-13858	1172	3	investors	investor	NOUN
cblr-13858	1172	4	and	and	CCONJ
cblr-13858	1172	5	are	be	AUX
cblr-13858	1172	6	actively	actively	ADV
cblr-13858	1172	7	involved	involve	VERB
cblr-13858	1172	8	in	in	ADP
cblr-13858	1172	9	the	the	DET
cblr-13858	1172	10	resulting	result	VERB
cblr-13858	1172	11	transactions	transaction	NOUN
cblr-13858	1172	12	.	.	PUNCT
cblr-13858	1173	1	this	this	PRON
cblr-13858	1173	2	,	,	PUNCT
cblr-13858	1173	3	coupled	couple	VERB
cblr-13858	1173	4	with	with	ADP
cblr-13858	1173	5	transactionbased	transactionbase	VERB
cblr-13858	1173	6	compensation	compensation	NOUN
cblr-13858	1173	7	,	,	PUNCT
cblr-13858	1173	8	puts	put	VERB
cblr-13858	1173	9	them	they	PRON
cblr-13858	1173	10	at	at	ADP
cblr-13858	1173	11	serious	serious	ADJ
cblr-13858	1173	12	risk	risk	NOUN
cblr-13858	1173	13	of	of	ADP
cblr-13858	1173	14	being	be	AUX
cblr-13858	1173	15	treated	treat	VERB
cblr-13858	1173	16	as	as	ADP
cblr-13858	1173	17	brokers	broker	NOUN
cblr-13858	1173	18	.	.	PUNCT
cblr-13858	1174	1	unfortunately	unfortunately	ADV
cblr-13858	1174	2	,	,	PUNCT
cblr-13858	1174	3	a	a	DET
cblr-13858	1174	4	relatively	relatively	ADV
cblr-13858	1174	5	recent	recent	ADJ
cblr-13858	1174	6	district	district	NOUN
cblr-13858	1174	7	court	court	NOUN
cblr-13858	1174	8	case	case	NOUN
cblr-13858	1174	9	muddies	muddy	VERB
cblr-13858	1174	10	the	the	DET
cblr-13858	1174	11	water	water	NOUN
cblr-13858	1174	12	and	and	CCONJ
cblr-13858	1174	13	casts	cast	VERB
cblr-13858	1174	14	doubt	doubt	NOUN
cblr-13858	1174	15	on	on	ADP
cblr-13858	1174	16	the	the	DET
cblr-13858	1174	17	validity	validity	NOUN
cblr-13858	1174	18	of	of	ADP
cblr-13858	1174	19	the	the	DET
cblr-13858	1174	20	sec	sec	PROPN
cblr-13858	1174	21	staffs	staff	NOUN
cblr-13858	1174	22	position	position	VERB
cblr-13858	1174	23	with	with	ADP
cblr-13858	1174	24	respect	respect	NOUN
cblr-13858	1174	25	to	to	ADP
cblr-13858	1174	26	transaction	transaction	NOUN
cblr-13858	1174	27	-	-	PUNCT
cblr-13858	1174	28	based	base	VERB
cblr-13858	1174	29	compensation	compensation	NOUN
cblr-13858	1174	30	.	.	PUNCT
cblr-13858	1175	1	in	in	ADP
cblr-13858	1175	2	sec	sec	PROPN
cblr-13858	1175	3	v.	v.	ADP
cblr-13858	1175	4	m	m	PROPN
cblr-13858	1175	5	&	&	CCONJ
cblr-13858	1175	6	a	a	DET
cblr-13858	1175	7	west	west	PROPN
cblr-13858	1175	8	,	,	PUNCT
cblr-13858	1175	9	inc	inc	PROPN
cblr-13858	1175	10	.	.	PROPN
cblr-13858	1175	11	,297	,297	PUNCT
cblr-13858	1175	12	the	the	DET
cblr-13858	1175	13	defendant	defendant	NOUN
cblr-13858	1175	14	worked	work	VERB
cblr-13858	1175	15	with	with	ADP
cblr-13858	1175	16	the	the	DET
cblr-13858	1175	17	shareholders	shareholder	NOUN
cblr-13858	1175	18	of	of	ADP
cblr-13858	1175	19	private	private	ADJ
cblr-13858	1175	20	companies	company	NOUN
cblr-13858	1175	21	to	to	PART
cblr-13858	1175	22	identify	identify	VERB
cblr-13858	1175	23	suitable	suitable	ADJ
cblr-13858	1175	24	public	public	ADJ
cblr-13858	1175	25	companies	company	NOUN
cblr-13858	1175	26	for	for	ADP
cblr-13858	1175	27	reverse	reverse	ADJ
cblr-13858	1175	28	mergers	merger	NOUN
cblr-13858	1175	29	,	,	PUNCT
cblr-13858	1175	30	actually	actually	ADV
cblr-13858	1175	31	prepared	prepare	VERB
cblr-13858	1175	32	the	the	DET
cblr-13858	1175	33	documents	document	NOUN
cblr-13858	1175	34	for	for	ADP
cblr-13858	1175	35	those	those	DET
cblr-13858	1175	36	transactions	transaction	NOUN
cblr-13858	1175	37	,	,	PUNCT
cblr-13858	1175	38	and	and	CCONJ
cblr-13858	1175	39	coordinated	coordinate	VERB
cblr-13858	1175	40	among	among	ADP
cblr-13858	1175	41	the	the	DET
cblr-13858	1175	42	parties.298	parties.298	NOUN
cblr-13858	1175	43	the	the	DET
cblr-13858	1175	44	defendant	defendant	NOUN
cblr-13858	1175	45	(	(	PUNCT
cblr-13858	1175	46	or	or	CCONJ
cblr-13858	1175	47	his	his	PRON
cblr-13858	1175	48	295	295	NUM
cblr-13858	1175	49	brumberg	brumberg	NOUN
cblr-13858	1175	50	,	,	PUNCT
cblr-13858	1175	51	mackey	mackey	PROPN
cblr-13858	1175	52	&	&	CCONJ
cblr-13858	1175	53	wall	wall	PROPN
cblr-13858	1175	54	,	,	PUNCT
cblr-13858	1175	55	p.l.c	p.l.c	NOUN
cblr-13858	1175	56	.	.	PROPN
cblr-13858	1175	57	,	,	PUNCT
cblr-13858	1175	58	sec	sec	PROPN
cblr-13858	1175	59	no	no	DET
cblr-13858	1175	60	-	-	PUNCT
cblr-13858	1175	61	action	action	NOUN
cblr-13858	1175	62	letter	letter	NOUN
cblr-13858	1175	63	,	,	PUNCT
cblr-13858	1175	64	2010	2010	NUM
cblr-13858	1175	65	wl	wl	NOUN
cblr-13858	1175	66	1976174	1976174	NUM
cblr-13858	1175	67	(	(	PUNCT
cblr-13858	1175	68	may	may	PROPN
cblr-13858	1175	69	17	17	NUM
cblr-13858	1175	70	,	,	PUNCT
cblr-13858	1175	71	2010	2010	NUM
cblr-13858	1175	72	)	)	PUNCT
cblr-13858	1175	73	.	.	PUNCT
cblr-13858	1176	1	2	2	X
cblr-13858	1176	2	"	"	PUNCT
cblr-13858	1176	3	i	i	PRON
cblr-13858	1176	4	d.	d.	VERB
cblr-13858	1176	5	even	even	ADV
cblr-13858	1176	6	in	in	ADP
cblr-13858	1176	7	this	this	DET
cblr-13858	1176	8	letter	letter	NOUN
cblr-13858	1176	9	,	,	PUNCT
cblr-13858	1176	10	it	it	PRON
cblr-13858	1176	11	is	be	AUX
cblr-13858	1176	12	hard	hard	ADJ
cblr-13858	1176	13	to	to	PART
cblr-13858	1176	14	isolate	isolate	VERB
cblr-13858	1176	15	transaction	transaction	NOUN
cblr-13858	1176	16	-	-	PUNCT
cblr-13858	1176	17	based	base	VERB
cblr-13858	1176	18	compensation	compensation	NOUN
cblr-13858	1176	19	as	as	ADP
cblr-13858	1176	20	the	the	DET
cblr-13858	1176	21	sole	sole	ADJ
cblr-13858	1176	22	determining	determine	VERB
cblr-13858	1176	23	factor	factor	NOUN
cblr-13858	1176	24	.	.	PUNCT
cblr-13858	1177	1	the	the	DET
cblr-13858	1177	2	staff	staff	NOUN
cblr-13858	1177	3	also	also	ADV
cblr-13858	1177	4	believed	believe	VERB
cblr-13858	1177	5	that	that	SCONJ
cblr-13858	1177	6	the	the	DET
cblr-13858	1177	7	firm	firm	NOUN
cblr-13858	1177	8	's	's	PART
cblr-13858	1177	9	introduction	introduction	NOUN
cblr-13858	1177	10	of	of	ADP
cblr-13858	1177	11	only	only	ADJ
cblr-13858	1177	12	contacts	contact	NOUN
cblr-13858	1177	13	with	with	ADP
cblr-13858	1177	14	a	a	DET
cblr-13858	1177	15	potential	potential	ADJ
cblr-13858	1177	16	interest	interest	NOUN
cblr-13858	1177	17	in	in	ADP
cblr-13858	1177	18	the	the	DET
cblr-13858	1177	19	company	company	NOUN
cblr-13858	1177	20	would	would	AUX
cblr-13858	1177	21	necessarily	necessarily	ADV
cblr-13858	1177	22	involve	involve	VERB
cblr-13858	1177	23	some	some	DET
cblr-13858	1177	24	"	"	PUNCT
cblr-13858	1177	25	pre	pre	ADJ
cblr-13858	1177	26	-	-	ADJ
cblr-13858	1177	27	selling	sell	VERB
cblr-13858	1177	28	"	"	PUNCT
cblr-13858	1177	29	of	of	ADP
cblr-13858	1177	30	the	the	DET
cblr-13858	1177	31	company	company	NOUN
cblr-13858	1177	32	and	and	CCONJ
cblr-13858	1177	33	some	some	DET
cblr-13858	1177	34	"	"	PUNCT
cblr-13858	1177	35	pre	pre	ADJ
cblr-13858	1177	36	-	-	ADJ
cblr-13858	1177	37	screening	screen	VERB
cblr-13858	1177	38	"	"	PUNCT
cblr-13858	1177	39	of	of	ADP
cblr-13858	1177	40	potential	potential	ADJ
cblr-13858	1177	41	investors	investor	NOUN
cblr-13858	1177	42	.	.	PUNCT
cblr-13858	1178	1	i	i	PRON
cblr-13858	1178	2	d.	d.	PROPN
cblr-13858	1178	3	2	2	NUM
cblr-13858	1178	4	'	'	PART
cblr-13858	1178	5	no	no	NOUN
cblr-13858	1178	6	.	.	PUNCT
cblr-13858	1179	1	c-01	c-01	NOUN
cblr-13858	1179	2	-	-	PUNCT
cblr-13858	1179	3	3376	3376	NUM
cblr-13858	1179	4	vrw	vrw	NOUN
cblr-13858	1179	5	,	,	PUNCT
cblr-13858	1179	6	2005	2005	NUM
cblr-13858	1179	7	wl	wl	NOUN
cblr-13858	1179	8	1514101	1514101	NUM
cblr-13858	1179	9	(	(	PUNCT
cblr-13858	1179	10	n.d	n.d	PROPN
cblr-13858	1179	11	.	.	PROPN
cblr-13858	1179	12	cal	cal	PROPN
cblr-13858	1179	13	.	.	PUNCT
cblr-13858	1180	1	june	june	PROPN
cblr-13858	1180	2	20	20	NUM
cblr-13858	1180	3	,	,	PUNCT
cblr-13858	1180	4	2005	2005	NUM
cblr-13858	1180	5	)	)	PUNCT
cblr-13858	1180	6	.	.	PUNCT
cblr-13858	1181	1	298	298	NUM
cblr-13858	1182	1	i	i	PRON
cblr-13858	1182	2	d.	d.	PROPN
cblr-13858	1182	3	at	at	ADP
cblr-13858	1182	4	*	*	PROPN
cblr-13858	1182	5	3	3	NUM
cblr-13858	1182	6	.	.	PUNCT
cblr-13858	1182	7	coluama	coluama	PROPN
cblr-13858	1182	8	b	b	PRON
cblr-13858	1182	9	usiness	usiness	NOUN
cblr-13858	1182	10	la	la	PROPN
cblr-13858	1182	11	w	w	PROPN
cblr-13858	1182	12	re	re	PROPN
cblr-13858	1182	13	vie	vie	PROPN
cblr-13858	1182	14	w	w	PROPN
cblr-13858	1183	1	[	[	X
cblr-13858	1183	2	vol	vol	NOUN
cblr-13858	1183	3	.	.	PUNCT
cblr-13858	1183	4	201260	201260	NUM
cblr-13858	1183	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1183	6	and	and	CCONJ
cblr-13858	1183	7	securities	security	NOUN
cblr-13858	1183	8	laws	law	NOUN
cblr-13858	1183	9	nominees	nominee	NOUN
cblr-13858	1183	10	)	)	PUNCT
cblr-13858	1183	11	received	receive	VERB
cblr-13858	1183	12	shares	share	NOUN
cblr-13858	1183	13	in	in	ADP
cblr-13858	1183	14	the	the	DET
cblr-13858	1183	15	completed	complete	VERB
cblr-13858	1183	16	transactions	transaction	NOUN
cblr-13858	1183	17	for	for	ADP
cblr-13858	1183	18	his	his	PRON
cblr-13858	1183	19	work	work	NOUN
cblr-13858	1183	20	2	2	NUM
cblr-13858	1183	21	99	99	NUM
cblr-13858	1183	22	-	-	PUNCT
cblr-13858	1183	23	clearly	clearly	ADV
cblr-13858	1183	24	transaction	transaction	NOUN
cblr-13858	1183	25	-	-	PUNCT
cblr-13858	1183	26	based	base	VERB
cblr-13858	1183	27	compensation	compensation	NOUN
cblr-13858	1183	28	-	-	PUNCT
cblr-13858	1183	29	but	but	CCONJ
cblr-13858	1183	30	the	the	DET
cblr-13858	1183	31	court	court	NOUN
cblr-13858	1183	32	nevertheless	nevertheless	ADV
cblr-13858	1183	33	held	hold	VERB
cblr-13858	1183	34	that	that	SCONJ
cblr-13858	1183	35	he	he	PRON
cblr-13858	1183	36	was	be	AUX
cblr-13858	1183	37	not	not	PART
cblr-13858	1183	38	a	a	DET
cblr-13858	1183	39	broker	broker	NOUN
cblr-13858	1183	40	.	.	PUNCT
cblr-13858	1184	1	according	accord	VERB
cblr-13858	1184	2	to	to	ADP
cblr-13858	1184	3	the	the	DET
cblr-13858	1184	4	court	court	NOUN
cblr-13858	1184	5	,	,	PUNCT
cblr-13858	1184	6	although	although	SCONJ
cblr-13858	1184	7	the	the	DET
cblr-13858	1184	8	defendant	defendant	NOUN
cblr-13858	1184	9	facilitated	facilitate	VERB
cblr-13858	1184	10	securities	security	NOUN
cblr-13858	1184	11	transactions	transaction	NOUN
cblr-13858	1184	12	,	,	PUNCT
cblr-13858	1184	13	his	his	PRON
cblr-13858	1184	14	actions	action	NOUN
cblr-13858	1184	15	were	be	AUX
cblr-13858	1184	16	not	not	PART
cblr-13858	1184	17	"	"	PUNCT
cblr-13858	1184	18	effecting	effect	VERB
cblr-13858	1184	19	"	"	PUNCT
cblr-13858	1184	20	transactions	transaction	NOUN
cblr-13858	1184	21	in	in	ADP
cblr-13858	1184	22	securities	security	NOUN
cblr-13858	1184	23	.	.	PUNCT
cblr-13858	1184	24	0	0	NUM
cblr-13858	1185	1	c.	c.	PROPN
cblr-13858	1185	2	involvement	involvement	NOUN
cblr-13858	1185	3	in	in	ADP
cblr-13858	1185	4	the	the	DET
cblr-13858	1185	5	transactions	transaction	NOUN
cblr-13858	1185	6	the	the	DET
cblr-13858	1185	7	extent	extent	NOUN
cblr-13858	1185	8	of	of	ADP
cblr-13858	1185	9	a	a	DET
cblr-13858	1185	10	site	site	NOUN
cblr-13858	1185	11	's	's	PART
cblr-13858	1185	12	involvement	involvement	NOUN
cblr-13858	1185	13	in	in	ADP
cblr-13858	1185	14	the	the	DET
cblr-13858	1185	15	actual	actual	ADJ
cblr-13858	1185	16	securities	security	NOUN
cblr-13858	1185	17	transactions	transaction	NOUN
cblr-13858	1185	18	is	be	AUX
cblr-13858	1185	19	also	also	ADV
cblr-13858	1185	20	important	important	ADJ
cblr-13858	1185	21	.	.	PUNCT
cblr-13858	1186	1	the	the	DET
cblr-13858	1186	2	matching	matching	NOUN
cblr-13858	1186	3	sites	site	NOUN
cblr-13858	1186	4	and	and	CCONJ
cblr-13858	1186	5	other	other	ADJ
cblr-13858	1186	6	finders	finder	NOUN
cblr-13858	1186	7	approved	approve	VERB
cblr-13858	1186	8	in	in	ADP
cblr-13858	1186	9	the	the	DET
cblr-13858	1186	10	favorable	favorable	ADJ
cblr-13858	1186	11	no	no	DET
cblr-13858	1186	12	-	-	PUNCT
cblr-13858	1186	13	action	action	NOUN
cblr-13858	1186	14	letters	letter	NOUN
cblr-13858	1186	15	merely	merely	ADV
cblr-13858	1186	16	brought	bring	VERB
cblr-13858	1186	17	investors	investor	NOUN
cblr-13858	1186	18	and	and	CCONJ
cblr-13858	1186	19	entrepreneurs	entrepreneur	NOUN
cblr-13858	1186	20	together	together	ADV
cblr-13858	1186	21	.	.	PUNCT
cblr-13858	1187	1	once	once	SCONJ
cblr-13858	1187	2	that	that	DET
cblr-13858	1187	3	introduction	introduction	NOUN
cblr-13858	1187	4	was	be	AUX
cblr-13858	1187	5	made	make	VERB
cblr-13858	1187	6	,	,	PUNCT
cblr-13858	1187	7	the	the	DET
cblr-13858	1187	8	matching	matching	NOUN
cblr-13858	1187	9	site	site	NOUN
cblr-13858	1187	10	's	's	PART
cblr-13858	1187	11	work	work	NOUN
cblr-13858	1187	12	was	be	AUX
cblr-13858	1187	13	done	do	VERB
cblr-13858	1187	14	.	.	PUNCT
cblr-13858	1188	1	the	the	DET
cblr-13858	1188	2	site	site	NOUN
cblr-13858	1188	3	"	"	PUNCT
cblr-13858	1188	4	was	be	AUX
cblr-13858	1188	5	not	not	PART
cblr-13858	1188	6	assisting	assist	VERB
cblr-13858	1188	7	the	the	DET
cblr-13858	1188	8	purchase	purchase	NOUN
cblr-13858	1188	9	or	or	CCONJ
cblr-13858	1188	10	sale	sale	NOUN
cblr-13858	1188	11	of	of	ADP
cblr-13858	1188	12	specific	specific	ADJ
cblr-13858	1188	13	securities""0	securities""0	NOUN
cblr-13858	1188	14	'	'	PUNCT
cblr-13858	1188	15	and	and	CCONJ
cblr-13858	1188	16	was	be	AUX
cblr-13858	1188	17	not	not	PART
cblr-13858	1188	18	otherwise	otherwise	ADV
cblr-13858	1188	19	involved	involve	VERB
cblr-13858	1188	20	in	in	ADP
cblr-13858	1188	21	the	the	DET
cblr-13858	1188	22	transactions.302	transactions.302	NOUN
cblr-13858	1188	23	crowdfunding	crowdfunding	NOUN
cblr-13858	1188	24	sites	site	NOUN
cblr-13858	1188	25	do	do	VERB
cblr-13858	1188	26	more	more	ADJ
cblr-13858	1188	27	than	than	SCONJ
cblr-13858	1188	28	just	just	ADV
cblr-13858	1188	29	bring	bring	VERB
cblr-13858	1188	30	entrepreneurs	entrepreneur	NOUN
cblr-13858	1188	31	and	and	CCONJ
cblr-13858	1188	32	investors	investor	NOUN
cblr-13858	1188	33	together	together	ADV
cblr-13858	1188	34	.	.	PUNCT
cblr-13858	1189	1	they	they	PRON
cblr-13858	1189	2	provide	provide	VERB
cblr-13858	1189	3	a	a	DET
cblr-13858	1189	4	platform	platform	NOUN
cblr-13858	1189	5	for	for	SCONJ
cblr-13858	1189	6	investors	investor	NOUN
cblr-13858	1189	7	and	and	CCONJ
cblr-13858	1189	8	entrepreneurs	entrepreneur	NOUN
cblr-13858	1189	9	to	to	PART
cblr-13858	1189	10	negotiate	negotiate	VERB
cblr-13858	1189	11	;	;	PUNCT
cblr-13858	1189	12	they	they	PRON
cblr-13858	1189	13	facilitate	facilitate	VERB
cblr-13858	1189	14	ongoing	ongoing	ADJ
cblr-13858	1189	15	communications	communication	NOUN
cblr-13858	1189	16	between	between	ADP
cblr-13858	1189	17	investors	investor	NOUN
cblr-13858	1189	18	and	and	CCONJ
cblr-13858	1189	19	entrepreneurs	entrepreneur	NOUN
cblr-13858	1189	20	;	;	PUNCT
cblr-13858	1189	21	and	and	CCONJ
cblr-13858	1189	22	they	they	PRON
cblr-13858	1189	23	transmit	transmit	VERB
cblr-13858	1189	24	funds	fund	NOUN
cblr-13858	1189	25	and	and	CCONJ
cblr-13858	1189	26	investment	investment	NOUN
cblr-13858	1189	27	documents	document	NOUN
cblr-13858	1189	28	back	back	ADV
cblr-13858	1189	29	and	and	CCONJ
cblr-13858	1189	30	forth	forth	ADV
cblr-13858	1189	31	between	between	ADP
cblr-13858	1189	32	investors	investor	NOUN
cblr-13858	1189	33	and	and	CCONJ
cblr-13858	1189	34	entrepreneurs	entrepreneur	NOUN
cblr-13858	1189	35	.	.	PUNCT
cblr-13858	1190	1	that	that	PRON
cblr-13858	1190	2	,	,	PUNCT
cblr-13858	1190	3	coupled	couple	VERB
cblr-13858	1190	4	with	with	ADP
cblr-13858	1190	5	the	the	DET
cblr-13858	1190	6	receipt	receipt	NOUN
cblr-13858	1190	7	of	of	ADP
cblr-13858	1190	8	transactionbased	transactionbase	VERB
cblr-13858	1190	9	compensation	compensation	NOUN
cblr-13858	1190	10	,	,	PUNCT
cblr-13858	1190	11	could	could	AUX
cblr-13858	1190	12	be	be	AUX
cblr-13858	1190	13	enough	enough	ADJ
cblr-13858	1190	14	to	to	PART
cblr-13858	1190	15	make	make	VERB
cblr-13858	1190	16	them	they	PRON
cblr-13858	1190	17	brokers	broker	NOUN
cblr-13858	1190	18	.	.	PUNCT
cblr-13858	1191	1	i.	i.	PROPN
cblr-13858	1191	2	providing	provide	VERB
cblr-13858	1191	3	advice	advice	NOUN
cblr-13858	1191	4	or	or	CCONJ
cblr-13858	1191	5	recommendations	recommendation	NOUN
cblr-13858	1191	6	providing	provide	VERB
cblr-13858	1191	7	advice	advice	NOUN
cblr-13858	1191	8	or	or	CCONJ
cblr-13858	1191	9	recommendations	recommendation	NOUN
cblr-13858	1191	10	to	to	ADP
cblr-13858	1191	11	investors	investor	NOUN
cblr-13858	1191	12	is	be	AUX
cblr-13858	1191	13	a	a	DET
cblr-13858	1191	14	factor	factor	NOUN
cblr-13858	1191	15	in	in	ADP
cblr-13858	1191	16	deciding	decide	VERB
cblr-13858	1191	17	whether	whether	SCONJ
cblr-13858	1191	18	one	one	NUM
cblr-13858	1191	19	is	be	AUX
cblr-13858	1191	20	a	a	DET
cblr-13858	1191	21	broker,03	broker,03	NOUN
cblr-13858	1191	22	but	but	CCONJ
cblr-13858	1191	23	most	most	ADJ
cblr-13858	1191	24	crowdfunding	crowdfunding	NOUN
cblr-13858	1191	25	sites	site	NOUN
cblr-13858	1191	26	provide	provide	VERB
cblr-13858	1191	27	only	only	ADV
cblr-13858	1191	28	general	general	ADJ
cblr-13858	1191	29	advice	advice	NOUN
cblr-13858	1191	30	,	,	PUNCT
cblr-13858	1191	31	and	and	CCONJ
cblr-13858	1191	32	do	do	AUX
cblr-13858	1191	33	not	not	PART
cblr-13858	1191	34	recommend	recommend	VERB
cblr-13858	1191	35	or	or	CCONJ
cblr-13858	1191	36	rate	rate	VERB
cblr-13858	1191	37	particular	particular	ADJ
cblr-13858	1191	38	investment	investment	NOUN
cblr-13858	1191	39	opportunities	opportunity	NOUN
cblr-13858	1191	40	.	.	PUNCT
cblr-13858	1191	41	'	'	PUNCT
cblr-13858	1192	1	i	i	PRON
cblr-13858	1192	2	d.	d.	VERB
cblr-13858	1192	3	at	at	ADP
cblr-13858	1192	4	*	*	PROPN
cblr-13858	1192	5	3-*4	3-*4	NUM
cblr-13858	1192	6	.	.	PUNCT
cblr-13858	1192	7	"	"	PUNCT
cblr-13858	1193	1	i	i	PRON
cblr-13858	1193	2	d.	d.	VERB
cblr-13858	1193	3	at	at	ADP
cblr-13858	1193	4	*	*	PROPN
cblr-13858	1193	5	9	9	NUM
cblr-13858	1193	6	.	.	PUNCT
cblr-13858	1194	1	the	the	DET
cblr-13858	1194	2	court	court	NOUN
cblr-13858	1194	3	granted	grant	VERB
cblr-13858	1194	4	summary	summary	NOUN
cblr-13858	1194	5	judgment	judgment	NOUN
cblr-13858	1194	6	to	to	ADP
cblr-13858	1194	7	the	the	DET
cblr-13858	1194	8	defendant	defendant	NOUN
cblr-13858	1194	9	sua	sua	PROPN
cblr-13858	1194	10	sponte	sponte	PROPN
cblr-13858	1194	11	.	.	PUNCT
cblr-13858	1195	1	301	301	NUM
cblr-13858	1195	2	lipton	lipton	PROPN
cblr-13858	1195	3	,	,	PUNCT
cblr-13858	1195	4	supra	supra	PROPN
cblr-13858	1195	5	note	note	PROPN
cblr-13858	1195	6	253	253	NUM
cblr-13858	1195	7	,	,	PUNCT
cblr-13858	1195	8	at	at	ADP
cblr-13858	1195	9	1	1	NUM
cblr-13858	1195	10	-	-	SYM
cblr-13858	1195	11	100	100	NUM
cblr-13858	1195	12	-	-	PUNCT
cblr-13858	1195	13	1	1	NUM
cblr-13858	1195	14	-	-	SYM
cblr-13858	1195	15	101	101	NUM
cblr-13858	1195	16	.	.	NOUN
cblr-13858	1195	17	302	302	NUM
cblr-13858	1196	1	i	i	PROPN
cblr-13858	1196	2	d.	d.	PROPN
cblr-13858	1196	3	at	at	ADP
cblr-13858	1196	4	1	1	NUM
cblr-13858	1196	5	-	-	SYM
cblr-13858	1196	6	102	102	NUM
cblr-13858	1196	7	.	.	PUNCT
cblr-13858	1197	1	303	303	NUM
cblr-13858	1197	2	hazen	hazen	PROPN
cblr-13858	1197	3	,	,	PUNCT
cblr-13858	1197	4	supra	supra	PROPN
cblr-13858	1197	5	note	note	PROPN
cblr-13858	1197	6	42	42	NUM
cblr-13858	1197	7	,	,	PUNCT
cblr-13858	1197	8	at	at	ADP
cblr-13858	1197	9	210	210	NUM
cblr-13858	1197	10	;	;	PUNCT
cblr-13858	1197	11	lipton	lipton	PROPN
cblr-13858	1197	12	,	,	PUNCT
cblr-13858	1197	13	supra	supra	PROPN
cblr-13858	1197	14	note	note	PROPN
cblr-13858	1197	15	253	253	NUM
cblr-13858	1197	16	,	,	PUNCT
cblr-13858	1197	17	at	at	ADP
cblr-13858	1197	18	1	1	NUM
cblr-13858	1197	19	-	-	SYM
cblr-13858	1197	20	70.1	70.1	NUM
cblr-13858	1197	21	;	;	PUNCT
cblr-13858	1197	22	poser	poser	NOUN
cblr-13858	1197	23	&	&	CCONJ
cblr-13858	1197	24	fanto	fanto	PROPN
cblr-13858	1197	25	,	,	PUNCT
cblr-13858	1197	26	supra	supra	PROPN
cblr-13858	1197	27	note	note	PROPN
cblr-13858	1197	28	254	254	NUM
cblr-13858	1197	29	,	,	PUNCT
cblr-13858	1197	30	at	at	ADP
cblr-13858	1197	31	5	5	NUM
cblr-13858	1197	32	-	-	SYM
cblr-13858	1197	33	12	12	NUM
cblr-13858	1197	34	;	;	PUNCT
cblr-13858	1197	35	task	task	NOUN
cblr-13858	1197	36	force	force	NOUN
cblr-13858	1197	37	on	on	ADP
cblr-13858	1197	38	private	private	ADJ
cblr-13858	1197	39	placement	placement	NOUN
cblr-13858	1197	40	broker	broker	NOUN
cblr-13858	1197	41	-	-	PUNCT
cblr-13858	1197	42	dealers	dealer	NOUN
cblr-13858	1197	43	,	,	PUNCT
cblr-13858	1197	44	supra	supra	PROPN
cblr-13858	1197	45	note	note	PROPN
cblr-13858	1197	46	280	280	NUM
cblr-13858	1197	47	,	,	PUNCT
cblr-13858	1197	48	at	at	ADP
cblr-13858	1197	49	975	975	NUM
cblr-13858	1197	50	.	.	PUNCT
cblr-13858	1198	1	no	no	INTJ
cblr-13858	1198	2	.	.	NOUN
cblr-13858	1199	1	1	1	NUM
cblr-13858	1199	2	:	:	SYM
cblr-13858	1199	3	1	1	NUM
cblr-13858	1199	4	]	]	SYM
cblr-13858	1199	5	61	61	NUM
cblr-13858	1199	6	columbia	columbia	PROPN
cblr-13858	1199	7	business	business	NOUN
cblr-13858	1199	8	law	law	PROPN
cblr-13858	1199	9	review	review	NOUN
cblr-13858	1199	10	kickstarter	kickstarter	NOUN
cblr-13858	1199	11	,	,	PUNCT
cblr-13858	1199	12	for	for	ADP
cblr-13858	1199	13	example	example	NOUN
cblr-13858	1199	14	,	,	PUNCT
cblr-13858	1199	15	provides	provide	VERB
cblr-13858	1199	16	general	general	ADJ
cblr-13858	1199	17	advice	advice	NOUN
cblr-13858	1199	18	to	to	ADP
cblr-13858	1199	19	investors	investor	NOUN
cblr-13858	1199	20	about	about	ADP
cblr-13858	1199	21	how	how	SCONJ
cblr-13858	1199	22	to	to	PART
cblr-13858	1199	23	avoid	avoid	VERB
cblr-13858	1199	24	fraud.o4	fraud.o4	ADP
cblr-13858	1199	25	also	also	ADV
cblr-13858	1199	26	,	,	PUNCT
cblr-13858	1199	27	some	some	PRON
cblr-13858	1199	28	of	of	ADP
cblr-13858	1199	29	the	the	DET
cblr-13858	1199	30	sites	site	NOUN
cblr-13858	1199	31	provide	provide	VERB
cblr-13858	1199	32	general	general	ADJ
cblr-13858	1199	33	advice	advice	NOUN
cblr-13858	1199	34	to	to	ADP
cblr-13858	1199	35	entrepreneurs	entrepreneur	NOUN
cblr-13858	1199	36	about	about	ADP
cblr-13858	1199	37	how	how	SCONJ
cblr-13858	1199	38	to	to	PART
cblr-13858	1199	39	structure	structure	VERB
cblr-13858	1199	40	a	a	DET
cblr-13858	1199	41	successful	successful	ADJ
cblr-13858	1199	42	fundraising	fundraising	NOUN
cblr-13858	1199	43	campaign	campaign	NOUN
cblr-13858	1199	44	.	.	PUNCT
cblr-13858	1200	1	the	the	DET
cblr-13858	1200	2	kickstarter	kickstarter	PROPN
cblr-13858	1200	3	site	site	NOUN
cblr-13858	1200	4	,	,	PUNCT
cblr-13858	1200	5	for	for	ADP
cblr-13858	1200	6	example	example	NOUN
cblr-13858	1200	7	,	,	PUNCT
cblr-13858	1200	8	includes	include	VERB
cblr-13858	1200	9	advice	advice	NOUN
cblr-13858	1200	10	about	about	ADP
cblr-13858	1200	11	how	how	SCONJ
cblr-13858	1200	12	much	much	ADJ
cblr-13858	1200	13	money	money	NOUN
cblr-13858	1200	14	to	to	PART
cblr-13858	1200	15	ask	ask	VERB
cblr-13858	1200	16	for	for	ADP
cblr-13858	1200	17	and	and	CCONJ
cblr-13858	1200	18	"	"	PUNCT
cblr-13858	1200	19	the	the	DET
cblr-13858	1200	20	secret	secret	NOUN
cblr-13858	1200	21	"	"	PUNCT
cblr-13858	1200	22	to	to	PART
cblr-13858	1200	23	successful	successful	VERB
cblr-13858	1200	24	fundraising.so6	fundraising.so6	PROPN
cblr-13858	1200	25	indiegogo	indiegogo	NOUN
cblr-13858	1200	26	and	and	CCONJ
cblr-13858	1200	27	profounder	profounder	NOUN
cblr-13858	1200	28	offer	offer	VERB
cblr-13858	1200	29	general	general	ADJ
cblr-13858	1200	30	advice	advice	NOUN
cblr-13858	1200	31	about	about	ADP
cblr-13858	1200	32	how	how	SCONJ
cblr-13858	1200	33	to	to	PART
cblr-13858	1200	34	create	create	VERB
cblr-13858	1200	35	a	a	DET
cblr-13858	1200	36	fundraising	fundraising	NOUN
cblr-13858	1200	37	campaign	campaign	NOUN
cblr-13858	1200	38	and	and	CCONJ
cblr-13858	1200	39	what	what	PRON
cblr-13858	1200	40	to	to	PART
cblr-13858	1200	41	offer	offer	VERB
cblr-13858	1200	42	in	in	ADP
cblr-13858	1200	43	return	return	NOUN
cblr-13858	1200	44	for	for	ADP
cblr-13858	1200	45	contributions.3	contributions.3	PROPN
cblr-13858	1200	46	06	06	NUM
cblr-13858	1200	47	other	other	ADJ
cblr-13858	1200	48	crowdfunding	crowdfunding	NOUN
cblr-13858	1200	49	sites	site	NOUN
cblr-13858	1200	50	provide	provide	VERB
cblr-13858	1200	51	more	more	ADV
cblr-13858	1200	52	specific	specific	ADJ
cblr-13858	1200	53	advice	advice	NOUN
cblr-13858	1200	54	to	to	ADP
cblr-13858	1200	55	entrepreneurs	entrepreneur	NOUN
cblr-13858	1200	56	and	and	CCONJ
cblr-13858	1200	57	investors	investor	NOUN
cblr-13858	1200	58	.	.	PUNCT
cblr-13858	1201	1	both	both	DET
cblr-13858	1201	2	lending	lend	VERB
cblr-13858	1201	3	club	club	NOUN
cblr-13858	1201	4	and	and	CCONJ
cblr-13858	1201	5	prosper	prosper	VERB
cblr-13858	1201	6	rate	rate	NOUN
cblr-13858	1201	7	borrowers	borrower	NOUN
cblr-13858	1201	8	,	,	PUNCT
cblr-13858	1201	9	effectively	effectively	ADV
cblr-13858	1201	10	advising	advise	VERB
cblr-13858	1201	11	investors	investor	NOUN
cblr-13858	1201	12	as	as	ADP
cblr-13858	1201	13	to	to	ADP
cblr-13858	1201	14	the	the	DET
cblr-13858	1201	15	quality	quality	NOUN
cblr-13858	1201	16	of	of	ADP
cblr-13858	1201	17	the	the	DET
cblr-13858	1201	18	loans	loan	NOUN
cblr-13858	1201	19	.	.	PUNCT
cblr-13858	1201	20	0	0	NUM
cblr-13858	1201	21	profounder	profounder	NOUN
cblr-13858	1201	22	,	,	PUNCT
cblr-13858	1201	23	before	before	SCONJ
cblr-13858	1201	24	it	it	PRON
cblr-13858	1201	25	quit	quit	VERB
cblr-13858	1201	26	offering	offer	VERB
cblr-13858	1201	27	securities	security	NOUN
cblr-13858	1201	28	,	,	PUNCT
cblr-13858	1201	29	helped	help	VERB
cblr-13858	1201	30	entrepreneurs	entrepreneur	NOUN
cblr-13858	1201	31	structure	structure	NOUN
cblr-13858	1201	32	and	and	CCONJ
cblr-13858	1201	33	complete	complete	VERB
cblr-13858	1201	34	their	their	PRON
cblr-13858	1201	35	offerings	offering	NOUN
cblr-13858	1201	36	.	.	PUNCT
cblr-13858	1202	1	it	it	PRON
cblr-13858	1202	2	agreed	agree	VERB
cblr-13858	1202	3	to	to	PART
cblr-13858	1202	4	make	make	VERB
cblr-13858	1202	5	a	a	DET
cblr-13858	1202	6	good	good	ADJ
cblr-13858	1202	7	faith	faith	NOUN
cblr-13858	1202	8	effort	effort	NOUN
cblr-13858	1202	9	"	"	PUNCT
cblr-13858	1202	10	to	to	PART
cblr-13858	1202	11	provide	provide	VERB
cblr-13858	1202	12	all	all	DET
cblr-13858	1202	13	documents	document	NOUN
cblr-13858	1202	14	necessary	necessary	ADJ
cblr-13858	1202	15	for	for	ADP
cblr-13858	1202	16	compliance	compliance	NOUN
cblr-13858	1202	17	with	with	ADP
cblr-13858	1202	18	securities	security	NOUN
cblr-13858	1202	19	and	and	CCONJ
cblr-13858	1202	20	other	other	ADJ
cblr-13858	1202	21	laws	law	NOUN
cblr-13858	1202	22	applicable	applicable	ADJ
cblr-13858	1202	23	to	to	ADP
cblr-13858	1202	24	company	company	NOUN
cblr-13858	1202	25	's	's	PART
cblr-13858	1202	26	issuance	issuance	NOUN
cblr-13858	1202	27	of	of	ADP
cblr-13858	1202	28	securities	security	NOUN
cblr-13858	1202	29	and	and	CCONJ
cblr-13858	1202	30	investor	investor	NOUN
cblr-13858	1202	31	's	's	PART
cblr-13858	1202	32	private	private	ADJ
cblr-13858	1202	33	investment	investment	NOUN
cblr-13858	1202	34	,	,	PUNCT
cblr-13858	1202	35	"	"	PUNCT
cblr-13858	1202	36	although	although	SCONJ
cblr-13858	1202	37	it	it	PRON
cblr-13858	1202	38	noted	note	VERB
cblr-13858	1202	39	that	that	SCONJ
cblr-13858	1202	40	compliance	compliance	NOUN
cblr-13858	1202	41	was	be	AUX
cblr-13858	1202	42	ultimately	ultimately	ADV
cblr-13858	1202	43	the	the	DET
cblr-13858	1202	44	entrepreneur	entrepreneur	NOUN
cblr-13858	1202	45	's	's	PART
cblr-13858	1202	46	responsibility.08	responsibility.08	ADJ
cblr-13858	1202	47	profounder	profounder	NOUN
cblr-13858	1202	48	also	also	ADV
cblr-13858	1202	49	provided	provide	VERB
cblr-13858	1202	50	term	term	NOUN
cblr-13858	1202	51	sheets	sheet	NOUN
cblr-13858	1202	52	and	and	CCONJ
cblr-13858	1202	53	"	"	PUNCT
cblr-13858	1202	54	compliance	compliance	NOUN
cblr-13858	1202	55	tools	tool	NOUN
cblr-13858	1202	56	"	"	PUNCT
cblr-13858	1202	57	to	to	ADP
cblr-13858	1202	58	entrepreneurs	entrepreneur	NOUN
cblr-13858	1202	59	'	'	PART
cblr-13858	1202	60	and	and	CCONJ
cblr-13858	1202	61	helped	help	VERB
cblr-13858	1202	62	entrepreneurs	entrepreneur	NOUN
cblr-13858	1202	63	track	track	VERB
cblr-13858	1202	64	compliance	compliance	NOUN
cblr-13858	1202	65	requirements	requirement	NOUN
cblr-13858	1202	66	and	and	CCONJ
cblr-13858	1202	67	filing	filing	NOUN
cblr-13858	1202	68	fees	fee	NOUN
cblr-13858	1202	69	.	.	PUNCT
cblr-13858	1203	1	310	310	NUM
cblr-13858	1203	2	s	s	X
cblr-13858	1203	3	'	'	PUNCT
cblr-13858	1203	4	see	see	VERB
cblr-13858	1203	5	frequently	frequently	ADV
cblr-13858	1203	6	asked	ask	VERB
cblr-13858	1203	7	questions	question	NOUN
cblr-13858	1203	8	,	,	PUNCT
cblr-13858	1203	9	kickstarter	kickstarter	PROPN
cblr-13858	1203	10	,	,	PUNCT
cblr-13858	1203	11	supra	supra	PROPN
cblr-13858	1203	12	note	note	NOUN
cblr-13858	1203	13	29	29	NUM
cblr-13858	1203	14	.	.	PUNCT
cblr-13858	1203	15	305	305	NUM
cblr-13858	1203	16	see	see	VERB
cblr-13858	1203	17	start	start	VERB
cblr-13858	1203	18	your	your	PRON
cblr-13858	1203	19	project	project	NOUN
cblr-13858	1203	20	,	,	PUNCT
cblr-13858	1203	21	kickstarter	kickstarter	NOUN
cblr-13858	1203	22	,	,	PUNCT
cblr-13858	1203	23	http://www.kickstarter.com/	http://www.kickstarter.com/	NOUN
cblr-13858	1203	24	start	start	NOUN
cblr-13858	1203	25	(	(	PUNCT
cblr-13858	1203	26	last	last	ADV
cblr-13858	1203	27	visited	visit	VERB
cblr-13858	1203	28	mar	mar	PROPN
cblr-13858	1203	29	.	.	PROPN
cblr-13858	1203	30	5	5	NUM
cblr-13858	1203	31	,	,	PUNCT
cblr-13858	1203	32	2012	2012	NUM
cblr-13858	1203	33	)	)	PUNCT
cblr-13858	1203	34	.	.	PUNCT
cblr-13858	1204	1	'	'	PUNCT
cblr-13858	1204	2	0	0	X
cblr-13858	1204	3	'	'	PUNCT
cblr-13858	1204	4	see	see	VERB
cblr-13858	1204	5	frequently	frequently	ADV
cblr-13858	1204	6	asked	ask	VERB
cblr-13858	1204	7	questions	question	NOUN
cblr-13858	1204	8	,	,	PUNCT
cblr-13858	1204	9	indiegogo	indiegogo	NOUN
cblr-13858	1204	10	,	,	PUNCT
cblr-13858	1204	11	supra	supra	PROPN
cblr-13858	1204	12	note	note	PROPN
cblr-13858	1204	13	44	44	NUM
cblr-13858	1204	14	;	;	PUNCT
cblr-13858	1204	15	lang	lang	PROPN
cblr-13858	1204	16	,	,	PUNCT
cblr-13858	1204	17	supra	supra	PROPN
cblr-13858	1204	18	note	note	NOUN
cblr-13858	1204	19	106	106	NUM
cblr-13858	1204	20	.	.	PUNCT
cblr-13858	1205	1	.0	.0	NOUN
cblr-13858	1205	2	.	.	PUNCT
cblr-13858	1206	1	see	see	VERB
cblr-13858	1206	2	e.g.	e.g.	ADV
cblr-13858	1206	3	,	,	PUNCT
cblr-13858	1206	4	prosper	prosper	VERB
cblr-13858	1206	5	ratings	rating	NOUN
cblr-13858	1206	6	,	,	PUNCT
cblr-13858	1206	7	prosper	prosper	VERB
cblr-13858	1206	8	,	,	PUNCT
cblr-13858	1206	9	http://www.prosper.com/invest/	http://www.prosper.com/invest/	PRON
cblr-13858	1206	10	how	how	SCONJ
cblr-13858	1206	11	-	-	PUNCT
cblr-13858	1206	12	to	to	AUX
cblr-13858	1206	13	-	-	PUNCT
cblr-13858	1206	14	invest	invest	VERB
cblr-13858	1206	15	/	/	SYM
cblr-13858	1206	16	prosper	prosper	NOUN
cblr-13858	1206	17	-	-	PUNCT
cblr-13858	1206	18	ratings/	ratings/	NUM
cblr-13858	1206	19	(	(	PUNCT
cblr-13858	1206	20	last	last	ADV
cblr-13858	1206	21	visited	visit	VERB
cblr-13858	1206	22	mar	mar	PROPN
cblr-13858	1206	23	.	.	PROPN
cblr-13858	1206	24	5	5	NUM
cblr-13858	1206	25	,	,	PUNCT
cblr-13858	1206	26	2012	2012	NUM
cblr-13858	1206	27	)	)	PUNCT
cblr-13858	1206	28	.	.	PUNCT
cblr-13858	1206	29	...	...	PUNCT
cblr-13858	1207	1	company	company	NOUN
cblr-13858	1207	2	terms	term	NOUN
cblr-13858	1207	3	and	and	CCONJ
cblr-13858	1207	4	conditions	condition	NOUN
cblr-13858	1207	5	for	for	ADP
cblr-13858	1207	6	services	service	NOUN
cblr-13858	1207	7	,	,	PUNCT
cblr-13858	1207	8	profounder	profounder	NOUN
cblr-13858	1207	9	,	,	PUNCT
cblr-13858	1207	10	supra	supra	PROPN
cblr-13858	1207	11	note	note	NOUN
cblr-13858	1207	12	112	112	NUM
cblr-13858	1207	13	.	.	PUNCT
cblr-13858	1208	1	see	see	VERB
cblr-13858	1208	2	also	also	ADV
cblr-13858	1208	3	lang	lang	PROPN
cblr-13858	1208	4	,	,	PUNCT
cblr-13858	1208	5	supra	supra	PROPN
cblr-13858	1208	6	note	note	NOUN
cblr-13858	1208	7	106	106	NUM
cblr-13858	1208	8	(	(	PUNCT
cblr-13858	1208	9	"	"	PUNCT
cblr-13858	1208	10	profounder	profounder	NOUN
cblr-13858	1208	11	facilitates	facilitate	VERB
cblr-13858	1208	12	compliance	compliance	NOUN
cblr-13858	1208	13	with	with	ADP
cblr-13858	1208	14	regulation	regulation	NOUN
cblr-13858	1208	15	d	d	NOUN
cblr-13858	1208	16	,	,	PUNCT
cblr-13858	1208	17	rule	rule	VERB
cblr-13858	1208	18	504	504	NUM
cblr-13858	1208	19	.	.	PUNCT
cblr-13858	1208	20	"	"	PUNCT
cblr-13858	1208	21	)	)	PUNCT
cblr-13858	1208	22	.	.	PUNCT
cblr-13858	1209	1	311	311	NUM
cblr-13858	1209	2	see	see	VERB
cblr-13858	1209	3	why	why	SCONJ
cblr-13858	1209	4	crowdfund	crowdfund	VERB
cblr-13858	1209	5	?	?	PUNCT
cblr-13858	1209	6	,	,	PUNCT
cblr-13858	1209	7	profounder	profounder	NOUN
cblr-13858	1209	8	,	,	PUNCT
cblr-13858	1209	9	http://www.profounder.com/	http://www.profounder.com/	PROPN
cblr-13858	1209	10	entrepreneurs	entrepreneurs	PROPN
cblr-13858	1209	11	/	/	SYM
cblr-13858	1209	12	whyscrowdfund	whyscrowdfund	PROPN
cblr-13858	1209	13	(	(	PUNCT
cblr-13858	1209	14	last	last	ADV
cblr-13858	1209	15	visited	visit	VERB
cblr-13858	1209	16	mar	mar	PROPN
cblr-13858	1209	17	.	.	PROPN
cblr-13858	1209	18	5	5	NUM
cblr-13858	1209	19	,	,	PUNCT
cblr-13858	1209	20	2012	2012	NUM
cblr-13858	1209	21	)	)	PUNCT
cblr-13858	1209	22	.	.	PUNCT
cblr-13858	1210	1	.o	.o	PROPN
cblr-13858	1210	2	see	see	VERB
cblr-13858	1210	3	lang	lang	PROPN
cblr-13858	1210	4	,	,	PUNCT
cblr-13858	1210	5	supra	supra	PROPN
cblr-13858	1210	6	note	note	NOUN
cblr-13858	1210	7	106	106	NUM
cblr-13858	1210	8	.	.	PUNCT
cblr-13858	1211	1	62	62	NUM
cblr-13858	1212	1	[	[	X
cblr-13858	1212	2	vol	vol	NOUN
cblr-13858	1212	3	.	.	PUNCT
cblr-13858	1212	4	2012	2012	NUM
cblr-13858	1212	5	ii	ii	PROPN
cblr-13858	1212	6	.	.	PUNCT
cblr-13858	1213	1	structuring	structure	VERB
cblr-13858	1213	2	the	the	DET
cblr-13858	1213	3	transaction	transaction	NOUN
cblr-13858	1213	4	involvement	involvement	NOUN
cblr-13858	1213	5	in	in	ADP
cblr-13858	1213	6	structuring	structure	VERB
cblr-13858	1213	7	a	a	DET
cblr-13858	1213	8	securities	security	NOUN
cblr-13858	1213	9	transaction	transaction	NOUN
cblr-13858	1213	10	is	be	AUX
cblr-13858	1213	11	another	another	DET
cblr-13858	1213	12	factor	factor	NOUN
cblr-13858	1213	13	pointing	pointing	NOUN
cblr-13858	1213	14	toward	toward	ADP
cblr-13858	1213	15	broker	broker	NOUN
cblr-13858	1213	16	status	status	NOUN
cblr-13858	1213	17	.	.	PUNCT
cblr-13858	1214	1	"	"	PUNCT
cblr-13858	1214	2	'	'	PUNCT
cblr-13858	1214	3	prosper	prosper	VERB
cblr-13858	1214	4	and	and	CCONJ
cblr-13858	1214	5	lending	lending	NOUN
cblr-13858	1214	6	club	club	NOUN
cblr-13858	1214	7	each	each	PRON
cblr-13858	1214	8	specify	specify	VERB
cblr-13858	1214	9	the	the	DET
cblr-13858	1214	10	terms	term	NOUN
cblr-13858	1214	11	of	of	ADP
cblr-13858	1214	12	the	the	DET
cblr-13858	1214	13	loans	loan	NOUN
cblr-13858	1214	14	on	on	ADP
cblr-13858	1214	15	their	their	PRON
cblr-13858	1214	16	sites.3	sites.3	ADJ
cblr-13858	1214	17	12	12	NUM
cblr-13858	1214	18	other	other	ADJ
cblr-13858	1214	19	sites	site	NOUN
cblr-13858	1214	20	restrict	restrict	VERB
cblr-13858	1214	21	the	the	DET
cblr-13858	1214	22	structure	structure	NOUN
cblr-13858	1214	23	of	of	ADP
cblr-13858	1214	24	the	the	DET
cblr-13858	1214	25	resulting	result	VERB
cblr-13858	1214	26	transaction	transaction	NOUN
cblr-13858	1214	27	.	.	PUNCT
cblr-13858	1215	1	indiegogo	indiegogo	NOUN
cblr-13858	1215	2	and	and	CCONJ
cblr-13858	1215	3	profounder	profounder	NOUN
cblr-13858	1215	4	,	,	PUNCT
cblr-13858	1215	5	for	for	ADP
cblr-13858	1215	6	example	example	NOUN
cblr-13858	1215	7	,	,	PUNCT
cblr-13858	1215	8	limit	limit	VERB
cblr-13858	1215	9	how	how	SCONJ
cblr-13858	1215	10	long	long	ADV
cblr-13858	1215	11	a	a	DET
cblr-13858	1215	12	funding	funding	NOUN
cblr-13858	1215	13	request	request	NOUN
cblr-13858	1215	14	may	may	AUX
cblr-13858	1215	15	remain	remain	VERB
cblr-13858	1215	16	open.13	open.13	AUX
cblr-13858	1215	17	profounder	profounder	PROPN
cblr-13858	1215	18	required	require	VERB
cblr-13858	1215	19	quarterly	quarterly	ADJ
cblr-13858	1215	20	payments	payment	NOUN
cblr-13858	1215	21	to	to	ADP
cblr-13858	1215	22	investors	investor	NOUN
cblr-13858	1215	23	and	and	CCONJ
cblr-13858	1215	24	imposed	impose	VERB
cblr-13858	1215	25	a	a	DET
cblr-13858	1215	26	fiveyear	fiveyear	NOUN
cblr-13858	1215	27	limit	limit	NOUN
cblr-13858	1215	28	on	on	ADP
cblr-13858	1215	29	how	how	SCONJ
cblr-13858	1215	30	long	long	ADJ
cblr-13858	1215	31	an	an	DET
cblr-13858	1215	32	entrepreneur	entrepreneur	NOUN
cblr-13858	1215	33	could	could	AUX
cblr-13858	1215	34	share	share	VERB
cblr-13858	1215	35	returns	return	NOUN
cblr-13858	1215	36	with	with	ADP
cblr-13858	1215	37	investors.314	investors.314	NOUN
cblr-13858	1215	38	profounder	profounder	NOUN
cblr-13858	1215	39	also	also	ADV
cblr-13858	1215	40	allowed	allow	VERB
cblr-13858	1215	41	entrepreneurs	entrepreneur	NOUN
cblr-13858	1215	42	to	to	PART
cblr-13858	1215	43	exit	exit	VERB
cblr-13858	1215	44	their	their	PRON
cblr-13858	1215	45	commitments	commitment	NOUN
cblr-13858	1215	46	early	early	ADV
cblr-13858	1215	47	,	,	PUNCT
cblr-13858	1215	48	but	but	CCONJ
cblr-13858	1215	49	only	only	ADV
cblr-13858	1215	50	if	if	SCONJ
cblr-13858	1215	51	they	they	PRON
cblr-13858	1215	52	paid	pay	VERB
cblr-13858	1215	53	investors	investor	NOUN
cblr-13858	1215	54	twice	twice	DET
cblr-13858	1215	55	their	their	PRON
cblr-13858	1215	56	investment	investment	NOUN
cblr-13858	1215	57	.	.	PUNCT
cblr-13858	1216	1	"	"	PUNCT
cblr-13858	1216	2	'	'	PUNCT
cblr-13858	1216	3	iii	iii	X
cblr-13858	1216	4	.	.	PUNCT
cblr-13858	1216	5	receipt	receipt	NOUN
cblr-13858	1216	6	or	or	CCONJ
cblr-13858	1216	7	transmission	transmission	NOUN
cblr-13858	1216	8	of	of	ADP
cblr-13858	1216	9	funds	fund	NOUN
cblr-13858	1216	10	/	/	SYM
cblr-13858	1216	11	continued	continue	VERB
cblr-13858	1216	12	involvement	involvement	NOUN
cblr-13858	1216	13	after	after	ADP
cblr-13858	1216	14	the	the	DET
cblr-13858	1216	15	financing	financing	NOUN
cblr-13858	1216	16	the	the	DET
cblr-13858	1216	17	receipt	receipt	NOUN
cblr-13858	1216	18	or	or	CCONJ
cblr-13858	1216	19	transmission	transmission	NOUN
cblr-13858	1216	20	of	of	ADP
cblr-13858	1216	21	funds	fund	NOUN
cblr-13858	1216	22	or	or	CCONJ
cblr-13858	1216	23	securities	security	NOUN
cblr-13858	1216	24	is	be	AUX
cblr-13858	1216	25	another	another	DET
cblr-13858	1216	26	criterion	criterion	NOUN
cblr-13858	1216	27	considered	consider	VERB
cblr-13858	1216	28	in	in	ADP
cblr-13858	1216	29	determining	determine	VERB
cblr-13858	1216	30	whether	whether	SCONJ
cblr-13858	1216	31	someone	someone	PRON
cblr-13858	1216	32	is	be	AUX
cblr-13858	1216	33	a	a	DET
cblr-13858	1216	34	broker.316	broker.316	ADJ
cblr-13858	1216	35	all	all	PRON
cblr-13858	1216	36	of	of	ADP
cblr-13858	1216	37	the	the	DET
cblr-13858	1216	38	major	major	ADJ
cblr-13858	1216	39	crowdfunding	crowdfunding	NOUN
cblr-13858	1216	40	sites	site	NOUN
cblr-13858	1216	41	actually	actually	ADV
cblr-13858	1216	42	collect	collect	VERB
cblr-13858	1216	43	funds	fund	NOUN
cblr-13858	1216	44	from	from	ADP
cblr-13858	1216	45	investors	investor	NOUN
cblr-13858	1216	46	and	and	CCONJ
cblr-13858	1216	47	forward	forward	VERB
cblr-13858	1216	48	them	they	PRON
cblr-13858	1216	49	to	to	ADP
cblr-13858	1216	50	the	the	DET
cblr-13858	1216	51	entrepreneurs	entrepreneur	NOUN
cblr-13858	1216	52	.	.	PUNCT
cblr-13858	1217	1	"3	"3	NOUN
cblr-13858	1217	2	the	the	DET
cblr-13858	1217	3	sites	site	NOUN
cblr-13858	1217	4	where	where	SCONJ
cblr-13858	1217	5	entrepreneurs	entrepreneur	NOUN
cblr-13858	1217	6	offer	offer	VERB
cblr-13858	1217	7	s	s	PRON
cblr-13858	1217	8	"	"	PUNCT
cblr-13858	1217	9	see	see	VERB
cblr-13858	1217	10	orcutt	orcutt	NOUN
cblr-13858	1217	11	,	,	PUNCT
cblr-13858	1217	12	supra	supra	PROPN
cblr-13858	1217	13	note	note	NOUN
cblr-13858	1217	14	255	255	NUM
cblr-13858	1217	15	,	,	PUNCT
cblr-13858	1217	16	at	at	ADP
cblr-13858	1217	17	904	904	NUM
cblr-13858	1217	18	-	-	SYM
cblr-13858	1217	19	05	05	NUM
cblr-13858	1217	20	;	;	PUNCT
cblr-13858	1217	21	guide	guide	VERB
cblr-13858	1217	22	to	to	ADP
cblr-13858	1217	23	registration	registration	NOUN
cblr-13858	1217	24	,	,	PUNCT
cblr-13858	1217	25	supra	supra	PROPN
cblr-13858	1217	26	note	note	NOUN
cblr-13858	1217	27	265	265	NUM
cblr-13858	1217	28	.	.	PUNCT
cblr-13858	1218	1	312	312	NUM
cblr-13858	1218	2	see	see	VERB
cblr-13858	1218	3	generally	generally	ADV
cblr-13858	1218	4	prosper	prosper	VERB
cblr-13858	1218	5	registration	registration	NOUN
cblr-13858	1218	6	statement	statement	NOUN
cblr-13858	1218	7	,	,	PUNCT
cblr-13858	1218	8	supra	supra	PROPN
cblr-13858	1218	9	note	note	PROPN
cblr-13858	1218	10	81	81	NUM
cblr-13858	1218	11	;	;	PUNCT
cblr-13858	1218	12	lending	lend	VERB
cblr-13858	1218	13	club	club	NOUN
cblr-13858	1218	14	registration	registration	NOUN
cblr-13858	1218	15	statement	statement	NOUN
cblr-13858	1218	16	,	,	PUNCT
cblr-13858	1218	17	supra	supra	PROPN
cblr-13858	1218	18	note	note	NOUN
cblr-13858	1218	19	81	81	NUM
cblr-13858	1218	20	.	.	PUNCT
cblr-13858	1218	21	31	31	NUM
cblr-13858	1218	22	frequently	frequently	ADV
cblr-13858	1218	23	asked	ask	VERB
cblr-13858	1218	24	questions	question	NOUN
cblr-13858	1218	25	:	:	PUNCT
cblr-13858	1218	26	creating	create	VERB
cblr-13858	1218	27	a	a	DET
cblr-13858	1218	28	campaign	campaign	NOUN
cblr-13858	1218	29	,	,	PUNCT
cblr-13858	1218	30	indiegogo	indiegogo	NOUN
cblr-13858	1218	31	,	,	PUNCT
cblr-13858	1218	32	supra	supra	PROPN
cblr-13858	1218	33	note	note	PROPN
cblr-13858	1218	34	44	44	NUM
cblr-13858	1218	35	(	(	PUNCT
cblr-13858	1218	36	120	120	NUM
cblr-13858	1218	37	-	-	PUNCT
cblr-13858	1218	38	day	day	NOUN
cblr-13858	1218	39	limit	limit	NOUN
cblr-13858	1218	40	)	)	PUNCT
cblr-13858	1218	41	;	;	PUNCT
cblr-13858	1218	42	faqs	faq	NOUN
cblr-13858	1218	43	,	,	PUNCT
cblr-13858	1218	44	profounder	profounder	NOUN
cblr-13858	1218	45	,	,	PUNCT
cblr-13858	1218	46	supra	supra	PROPN
cblr-13858	1218	47	note	note	NOUN
cblr-13858	1218	48	110	110	NUM
cblr-13858	1218	49	.	.	PUNCT
cblr-13858	1218	50	31	31	NUM
cblr-13858	1218	51	'	'	PART
cblr-13858	1218	52	lang	lang	PROPN
cblr-13858	1218	53	,	,	PUNCT
cblr-13858	1218	54	supra	supra	PROPN
cblr-13858	1218	55	note	note	NOUN
cblr-13858	1218	56	106	106	NUM
cblr-13858	1218	57	.	.	PUNCT
cblr-13858	1218	58	...	...	PUNCT
cblr-13858	1219	1	i	i	PRON
cblr-13858	1219	2	d.	d.	PROPN
cblr-13858	1219	3	however	however	ADV
cblr-13858	1219	4	,	,	PUNCT
cblr-13858	1219	5	this	this	DET
cblr-13858	1219	6	early	early	ADJ
cblr-13858	1219	7	repayment	repayment	NOUN
cblr-13858	1219	8	option	option	NOUN
cblr-13858	1219	9	is	be	AUX
cblr-13858	1219	10	not	not	PART
cblr-13858	1219	11	done	do	VERB
cblr-13858	1219	12	through	through	ADP
cblr-13858	1219	13	the	the	DET
cblr-13858	1219	14	profounder	profounder	NOUN
cblr-13858	1219	15	web	web	NOUN
cblr-13858	1219	16	site	site	NOUN
cblr-13858	1219	17	.	.	PUNCT
cblr-13858	1220	1	i	i	PRON
cblr-13858	1220	2	d.	d.	PROPN
cblr-13858	1220	3	"	"	PUNCT
cblr-13858	1220	4	1	1	NUM
cblr-13858	1220	5	'	'	PUNCT
cblr-13858	1220	6	lipton	lipton	PROPN
cblr-13858	1220	7	,	,	PUNCT
cblr-13858	1220	8	supra	supra	PROPN
cblr-13858	1220	9	note	note	PROPN
cblr-13858	1220	10	253	253	NUM
cblr-13858	1220	11	,	,	PUNCT
cblr-13858	1220	12	at	at	ADP
cblr-13858	1220	13	1	1	NUM
cblr-13858	1220	14	-	-	SYM
cblr-13858	1220	15	43	43	NUM
cblr-13858	1220	16	.	.	PUNCT
cblr-13858	1221	1	see	see	VERB
cblr-13858	1221	2	also	also	ADV
cblr-13858	1221	3	sec	sec	PROPN
cblr-13858	1221	4	v.	v.	PROPN
cblr-13858	1221	5	margolin	margolin	PROPN
cblr-13858	1221	6	,	,	PUNCT
cblr-13858	1221	7	no	no	NOUN
cblr-13858	1221	8	.	.	NOUN
cblr-13858	1222	1	92	92	NUM
cblr-13858	1222	2	civ	civ	NOUN
cblr-13858	1222	3	.	.	PUNCT
cblr-13858	1222	4	6307	6307	NUM
cblr-13858	1222	5	(	(	PUNCT
cblr-13858	1222	6	pkl	pkl	PROPN
cblr-13858	1222	7	)	)	PUNCT
cblr-13858	1222	8	,	,	PUNCT
cblr-13858	1222	9	1992	1992	NUM
cblr-13858	1222	10	wl	wl	SYM
cblr-13858	1222	11	279735	279735	NUM
cblr-13858	1222	12	(	(	PUNCT
cblr-13858	1222	13	s.d.n.y	s.d.n.y	PROPN
cblr-13858	1222	14	.	.	PUNCT
cblr-13858	1222	15	sept	sept	PROPN
cblr-13858	1222	16	.	.	PROPN
cblr-13858	1222	17	30	30	NUM
cblr-13858	1222	18	,	,	PUNCT
cblr-13858	1222	19	1992	1992	NUM
cblr-13858	1222	20	)	)	PUNCT
cblr-13858	1222	21	(	(	PUNCT
cblr-13858	1222	22	"	"	PUNCT
cblr-13858	1222	23	possessing	possess	VERB
cblr-13858	1222	24	client	client	NOUN
cblr-13858	1222	25	funds	fund	NOUN
cblr-13858	1222	26	and	and	CCONJ
cblr-13858	1222	27	securities	security	NOUN
cblr-13858	1222	28	"	"	PUNCT
cblr-13858	1222	29	)	)	PUNCT
cblr-13858	1222	30	;	;	PUNCT
cblr-13858	1222	31	poser	poser	NOUN
cblr-13858	1222	32	&	&	CCONJ
cblr-13858	1222	33	fanto	fanto	PROPN
cblr-13858	1222	34	,	,	PUNCT
cblr-13858	1222	35	supra	supra	PROPN
cblr-13858	1222	36	note	note	PROPN
cblr-13858	1222	37	254	254	NUM
cblr-13858	1222	38	,	,	PUNCT
cblr-13858	1222	39	at	at	ADP
cblr-13858	1222	40	5	5	NUM
cblr-13858	1222	41	-	-	SYM
cblr-13858	1222	42	12	12	NUM
cblr-13858	1222	43	(	(	PUNCT
cblr-13858	1222	44	"	"	PUNCT
cblr-13858	1222	45	taking	take	VERB
cblr-13858	1222	46	custody	custody	NOUN
cblr-13858	1222	47	of	of	ADP
cblr-13858	1222	48	clients	client	NOUN
cblr-13858	1222	49	'	'	PART
cblr-13858	1222	50	funds	fund	NOUN
cblr-13858	1222	51	and	and	CCONJ
cblr-13858	1222	52	securities	security	NOUN
cblr-13858	1222	53	"	"	PUNCT
cblr-13858	1222	54	)	)	PUNCT
cblr-13858	1222	55	;	;	PUNCT
cblr-13858	1222	56	guide	guide	VERB
cblr-13858	1222	57	to	to	ADP
cblr-13858	1222	58	registration	registration	NOUN
cblr-13858	1222	59	,	,	PUNCT
cblr-13858	1222	60	supra	supra	PROPN
cblr-13858	1222	61	note	note	NOUN
cblr-13858	1222	62	265	265	NUM
cblr-13858	1222	63	(	(	PUNCT
cblr-13858	1222	64	"	"	PUNCT
cblr-13858	1222	65	do	do	AUX
cblr-13858	1222	66	you	you	PRON
cblr-13858	1222	67	handle	handle	VERB
cblr-13858	1222	68	the	the	DET
cblr-13858	1222	69	securities	security	NOUN
cblr-13858	1222	70	or	or	CCONJ
cblr-13858	1222	71	funds	fund	NOUN
cblr-13858	1222	72	of	of	ADP
cblr-13858	1222	73	others	other	NOUN
cblr-13858	1222	74	in	in	ADP
cblr-13858	1222	75	connection	connection	NOUN
cblr-13858	1222	76	with	with	ADP
cblr-13858	1222	77	securities	security	NOUN
cblr-13858	1222	78	transactions	transaction	NOUN
cblr-13858	1222	79	?	?	PUNCT
cblr-13858	1222	80	"	"	PUNCT
cblr-13858	1222	81	)	)	PUNCT
cblr-13858	1222	82	.	.	PUNCT
cblr-13858	1223	1	317	317	NUM
cblr-13858	1223	2	see	see	VERB
cblr-13858	1223	3	,	,	PUNCT
cblr-13858	1223	4	e.g.	e.g.	ADV
cblr-13858	1223	5	,	,	PUNCT
cblr-13858	1223	6	frequently	frequently	ADV
cblr-13858	1223	7	asked	ask	VERB
cblr-13858	1223	8	questions	question	NOUN
cblr-13858	1223	9	:	:	PUNCT
cblr-13858	1223	10	pledging	pledge	VERB
cblr-13858	1223	11	,	,	PUNCT
cblr-13858	1223	12	kickstarter	kickstarter	NOUN
cblr-13858	1223	13	,	,	PUNCT
cblr-13858	1223	14	supra	supra	PROPN
cblr-13858	1223	15	note	note	PROPN
cblr-13858	1223	16	29	29	NUM
cblr-13858	1223	17	;	;	PUNCT
cblr-13858	1223	18	how	how	SCONJ
cblr-13858	1223	19	kiva	kiva	PROPN
cblr-13858	1223	20	works	work	VERB
cblr-13858	1223	21	,	,	PUNCT
cblr-13858	1223	22	supra	supra	PROPN
cblr-13858	1223	23	note	note	PROPN
cblr-13858	1223	24	72	72	NUM
cblr-13858	1223	25	;	;	PUNCT
cblr-13858	1223	26	frequently	frequently	ADV
cblr-13858	1223	27	asked	ask	VERB
cblr-13858	1223	28	questions	question	NOUN
cblr-13858	1223	29	,	,	PUNCT
cblr-13858	1223	30	indiegogo	indiegogo	NOUN
cblr-13858	1223	31	,	,	PUNCT
cblr-13858	1223	32	supra	supra	PROPN
cblr-13858	1223	33	note	note	PROPN
cblr-13858	1223	34	44	44	NUM
cblr-13858	1223	35	;	;	PUNCT
cblr-13858	1223	36	lang	lang	PROPN
cblr-13858	1223	37	,	,	PUNCT
cblr-13858	1223	38	supra	supra	PROPN
cblr-13858	1223	39	note	note	PROPN
cblr-13858	1223	40	106	106	NUM
cblr-13858	1223	41	(	(	PUNCT
cblr-13858	1223	42	profounder	profounder	NOUN
cblr-13858	1223	43	)	)	PUNCT
cblr-13858	1223	44	.	.	PUNCT
cblr-13858	1224	1	cro0wdfunding	cro0wdfunde	VERB
cblr-13858	1224	2	and	and	CCONJ
cblr-13858	1224	3	securities	security	NOUN
cblr-13858	1224	4	la	la	PRON
cblr-13858	1224	5	ws	ws	PROPN
cblr-13858	1224	6	63no	63no	NOUN
cblr-13858	1224	7	.	.	PUNCT
cblr-13858	1225	1	1:11	1:11	NUM
cblr-13858	1225	2	financial	financial	ADJ
cblr-13858	1225	3	rewards	reward	NOUN
cblr-13858	1225	4	also	also	ADV
cblr-13858	1225	5	transfer	transfer	VERB
cblr-13858	1225	6	those	those	DET
cblr-13858	1225	7	funds	fund	NOUN
cblr-13858	1225	8	back	back	ADV
cblr-13858	1225	9	to	to	ADP
cblr-13858	1225	10	investors	investor	NOUN
cblr-13858	1225	11	.	.	PUNCT
cblr-13858	1226	1	"	"	PUNCT
cblr-13858	1226	2	'	'	PUNCT
cblr-13858	1226	3	sites	site	NOUN
cblr-13858	1226	4	are	be	AUX
cblr-13858	1226	5	also	also	ADV
cblr-13858	1226	6	involved	involve	VERB
cblr-13858	1226	7	in	in	ADP
cblr-13858	1226	8	other	other	ADJ
cblr-13858	1226	9	ways	way	NOUN
cblr-13858	1226	10	after	after	ADP
cblr-13858	1226	11	completion	completion	NOUN
cblr-13858	1226	12	of	of	ADP
cblr-13858	1226	13	the	the	DET
cblr-13858	1226	14	transaction	transaction	NOUN
cblr-13858	1226	15	.	.	PUNCT
cblr-13858	1227	1	at	at	ADP
cblr-13858	1227	2	profounder	profounder	NOUN
cblr-13858	1227	3	,	,	PUNCT
cblr-13858	1227	4	entrepreneurs	entrepreneur	NOUN
cblr-13858	1227	5	had	have	VERB
cblr-13858	1227	6	to	to	PART
cblr-13858	1227	7	report	report	VERB
cblr-13858	1227	8	their	their	PRON
cblr-13858	1227	9	revenues	revenue	NOUN
cblr-13858	1227	10	on	on	ADP
cblr-13858	1227	11	a	a	DET
cblr-13858	1227	12	quarterly	quarterly	ADJ
cblr-13858	1227	13	basis	basis	NOUN
cblr-13858	1227	14	and	and	CCONJ
cblr-13858	1227	15	even	even	ADV
cblr-13858	1227	16	upload	upload	VERB
cblr-13858	1227	17	their	their	PRON
cblr-13858	1227	18	tax	tax	NOUN
cblr-13858	1227	19	returns	return	NOUN
cblr-13858	1227	20	each	each	DET
cblr-13858	1227	21	year	year	NOUN
cblr-13858	1227	22	to	to	PART
cblr-13858	1227	23	verify	verify	VERB
cblr-13858	1227	24	the	the	DET
cblr-13858	1227	25	reported	report	VERB
cblr-13858	1227	26	revenues	revenue	NOUN
cblr-13858	1227	27	.	.	PUNCT
cblr-13858	1227	28	"	"	PUNCT
cblr-13858	1228	1	9	9	NUM
cblr-13858	1228	2	similarly	similarly	ADV
cblr-13858	1228	3	,	,	PUNCT
cblr-13858	1228	4	kickstarter	kickstarter	PROPN
cblr-13858	1228	5	and	and	CCONJ
cblr-13858	1228	6	indiegogo	indiegogo	PROPN
cblr-13858	1228	7	encourage	encourage	VERB
cblr-13858	1228	8	entrepreneurs	entrepreneur	NOUN
cblr-13858	1228	9	to	to	PART
cblr-13858	1228	10	post	post	VERB
cblr-13858	1228	11	project	project	NOUN
cblr-13858	1228	12	updates.320	updates.320	NOUN
cblr-13858	1228	13	iv	iv	NOUN
cblr-13858	1228	14	.	.	PUNCT
cblr-13858	1229	1	involvement	involvement	NOUN
cblr-13858	1229	2	in	in	ADP
cblr-13858	1229	3	negotiations	negotiation	NOUN
cblr-13858	1229	4	another	another	DET
cblr-13858	1229	5	relevant	relevant	ADJ
cblr-13858	1229	6	factor	factor	NOUN
cblr-13858	1229	7	is	be	AUX
cblr-13858	1229	8	involvement	involvement	NOUN
cblr-13858	1229	9	in	in	ADP
cblr-13858	1229	10	negotiations	negotiation	NOUN
cblr-13858	1229	11	between	between	ADP
cblr-13858	1229	12	investors	investor	NOUN
cblr-13858	1229	13	and	and	CCONJ
cblr-13858	1229	14	entrepreneurs	entrepreneur	NOUN
cblr-13858	1229	15	.	.	PUNCT
cblr-13858	1230	1	a	a	DET
cblr-13858	1230	2	person	person	NOUN
cblr-13858	1230	3	involved	involve	VERB
cblr-13858	1230	4	in	in	ADP
cblr-13858	1230	5	the	the	DET
cblr-13858	1230	6	negotiation	negotiation	NOUN
cblr-13858	1230	7	of	of	ADP
cblr-13858	1230	8	securities	security	NOUN
cblr-13858	1230	9	transactions	transaction	NOUN
cblr-13858	1230	10	is	be	AUX
cblr-13858	1230	11	"	"	PUNCT
cblr-13858	1230	12	virtually	virtually	ADV
cblr-13858	1230	13	always	always	ADV
cblr-13858	1230	14	"	"	PUNCT
cblr-13858	1230	15	treated	treat	VERB
cblr-13858	1230	16	as	as	ADP
cblr-13858	1230	17	a	a	DET
cblr-13858	1230	18	broker.3	broker.3	NUM
cblr-13858	1230	19	21	21	NUM
cblr-13858	1230	20	crowdfunding	crowdfunding	NOUN
cblr-13858	1230	21	sites	site	NOUN
cblr-13858	1230	22	are	be	AUX
cblr-13858	1230	23	not	not	PART
cblr-13858	1230	24	actively	actively	ADV
cblr-13858	1230	25	involved	involve	VERB
cblr-13858	1230	26	in	in	ADP
cblr-13858	1230	27	negotiations	negotiation	NOUN
cblr-13858	1230	28	between	between	ADP
cblr-13858	1230	29	the	the	DET
cblr-13858	1230	30	entrepreneurs	entrepreneur	NOUN
cblr-13858	1230	31	who	who	PRON
cblr-13858	1230	32	list	list	VERB
cblr-13858	1230	33	on	on	ADP
cblr-13858	1230	34	the	the	DET
cblr-13858	1230	35	sites	site	NOUN
cblr-13858	1230	36	and	and	CCONJ
cblr-13858	1230	37	potential	potential	ADJ
cblr-13858	1230	38	investors	investor	NOUN
cblr-13858	1230	39	.	.	PUNCT
cblr-13858	1231	1	the	the	DET
cblr-13858	1231	2	communications	communication	NOUN
cblr-13858	1231	3	portals	portal	NOUN
cblr-13858	1231	4	on	on	ADP
cblr-13858	1231	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1231	6	sites	site	NOUN
cblr-13858	1231	7	obviously	obviously	ADV
cblr-13858	1231	8	facilitate	facilitate	VERB
cblr-13858	1231	9	negotiations	negotiation	NOUN
cblr-13858	1231	10	,	,	PUNCT
cblr-13858	1231	11	but	but	CCONJ
cblr-13858	1231	12	merely	merely	ADV
cblr-13858	1231	13	facilitating	facilitate	VERB
cblr-13858	1231	14	the	the	DET
cblr-13858	1231	15	exchange	exchange	NOUN
cblr-13858	1231	16	of	of	ADP
cblr-13858	1231	17	information	information	NOUN
cblr-13858	1231	18	or	or	CCONJ
cblr-13858	1231	19	documents	document	NOUN
cblr-13858	1231	20	is	be	AUX
cblr-13858	1231	21	not	not	PART
cblr-13858	1231	22	sufficient	sufficient	ADJ
cblr-13858	1231	23	to	to	PART
cblr-13858	1231	24	make	make	VERB
cblr-13858	1231	25	one	one	PRON
cblr-13858	1231	26	a	a	DET
cblr-13858	1231	27	broker.322	broker.322	PROPN
cblr-13858	1231	28	d.	d.	PROPN
cblr-13858	1231	29	solicitation	solicitation	PROPN
cblr-13858	1231	30	and	and	CCONJ
cblr-13858	1231	31	advertising	advertise	VERB
cblr-13858	1231	32	another	another	DET
cblr-13858	1231	33	factor	factor	NOUN
cblr-13858	1231	34	relevant	relevant	ADJ
cblr-13858	1231	35	to	to	PART
cblr-13858	1231	36	broker	broker	VERB
cblr-13858	1231	37	status	status	NOUN
cblr-13858	1231	38	is	be	AUX
cblr-13858	1231	39	whether	whether	SCONJ
cblr-13858	1231	40	the	the	DET
cblr-13858	1231	41	person	person	NOUN
cblr-13858	1231	42	is	be	AUX
cblr-13858	1231	43	actively	actively	ADV
cblr-13858	1231	44	advertising	advertise	VERB
cblr-13858	1231	45	or	or	CCONJ
cblr-13858	1231	46	otherwise	otherwise	ADV
cblr-13858	1231	47	soliciting	solicit	VERB
cblr-13858	1231	48	investors.323	investors.323	ADJ
cblr-13858	1231	49	solicitation	solicitation	NOUN
cblr-13858	1231	50	is	be	AUX
cblr-13858	1231	51	defined	define	VERB
cblr-13858	1231	52	fairly	fairly	ADV
cblr-13858	1231	53	broadly	broadly	ADV
cblr-13858	1231	54	.	.	PUNCT
cblr-13858	1232	1	the	the	DET
cblr-13858	1232	2	318	318	NUM
cblr-13858	1232	3	see	see	NOUN
cblr-13858	1232	4	,	,	PUNCT
cblr-13858	1232	5	e.g.	e.g.	ADV
cblr-13858	1232	6	,	,	PUNCT
cblr-13858	1232	7	how	how	SCONJ
cblr-13858	1232	8	kiva	kiva	PROPN
cblr-13858	1232	9	works	work	VERB
cblr-13858	1232	10	,	,	PUNCT
cblr-13858	1232	11	supra	supra	PROPN
cblr-13858	1232	12	note	note	PROPN
cblr-13858	1232	13	72	72	NUM
cblr-13858	1232	14	;	;	PUNCT
cblr-13858	1232	15	lang	lang	PROPN
cblr-13858	1232	16	,	,	PUNCT
cblr-13858	1232	17	supra	supra	PROPN
cblr-13858	1232	18	note	note	NOUN
cblr-13858	1232	19	106	106	NUM
cblr-13858	1232	20	.	.	PUNCT
cblr-13858	1233	1	319	319	NUM
cblr-13858	1233	2	see	see	PROPN
cblr-13858	1233	3	lang	lang	PROPN
cblr-13858	1233	4	,	,	PUNCT
cblr-13858	1233	5	supra	supra	PROPN
cblr-13858	1233	6	note	note	NOUN
cblr-13858	1233	7	106	106	NUM
cblr-13858	1233	8	.	.	PUNCT
cblr-13858	1234	1	33o	33o	NUM
cblr-13858	1234	2	see	see	VERB
cblr-13858	1234	3	frequently	frequently	ADV
cblr-13858	1234	4	asked	ask	VERB
cblr-13858	1234	5	questions	question	NOUN
cblr-13858	1234	6	:	:	PUNCT
cblr-13858	1234	7	project	project	NOUN
cblr-13858	1234	8	updates	update	VERB
cblr-13858	1234	9	,	,	PUNCT
cblr-13858	1234	10	kickstarter	kickstarter	PROPN
cblr-13858	1234	11	,	,	PUNCT
cblr-13858	1234	12	supra	supra	PROPN
cblr-13858	1234	13	note	note	PROPN
cblr-13858	1234	14	29	29	NUM
cblr-13858	1234	15	;	;	PUNCT
cblr-13858	1234	16	frequently	frequently	ADV
cblr-13858	1234	17	asked	ask	VERB
cblr-13858	1234	18	questions	question	NOUN
cblr-13858	1234	19	:	:	PUNCT
cblr-13858	1234	20	creating	create	VERB
cblr-13858	1234	21	a	a	DET
cblr-13858	1234	22	campaign	campaign	NOUN
cblr-13858	1234	23	,	,	PUNCT
cblr-13858	1234	24	indiegogo	indiegogo	NOUN
cblr-13858	1234	25	,	,	PUNCT
cblr-13858	1234	26	supra	supra	PROPN
cblr-13858	1234	27	note	note	NOUN
cblr-13858	1234	28	44	44	NUM
cblr-13858	1234	29	.	.	NOUN
cblr-13858	1234	30	321	321	NUM
cblr-13858	1234	31	lipton	lipton	PROPN
cblr-13858	1234	32	,	,	PUNCT
cblr-13858	1234	33	supra	supra	PROPN
cblr-13858	1234	34	note	note	PROPN
cblr-13858	1234	35	253	253	NUM
cblr-13858	1234	36	,	,	PUNCT
cblr-13858	1234	37	at	at	ADP
cblr-13858	1234	38	1	1	NUM
cblr-13858	1234	39	-	-	SYM
cblr-13858	1234	40	74	74	NUM
cblr-13858	1234	41	.	.	PUNCT
cblr-13858	1235	1	see	see	VERB
cblr-13858	1235	2	also	also	ADV
cblr-13858	1235	3	hazen	hazen	PROPN
cblr-13858	1235	4	,	,	PUNCT
cblr-13858	1235	5	supra	supra	PROPN
cblr-13858	1235	6	note	note	PROPN
cblr-13858	1235	7	42	42	NUM
cblr-13858	1235	8	,	,	PUNCT
cblr-13858	1235	9	at	at	ADP
cblr-13858	1235	10	210	210	NUM
cblr-13858	1235	11	(	(	PUNCT
cblr-13858	1235	12	listing	list	VERB
cblr-13858	1235	13	involvement	involvement	NOUN
cblr-13858	1235	14	in	in	ADP
cblr-13858	1235	15	negotiations	negotiation	NOUN
cblr-13858	1235	16	as	as	ADP
cblr-13858	1235	17	a	a	DET
cblr-13858	1235	18	factor	factor	NOUN
cblr-13858	1235	19	pointing	pointing	NOUN
cblr-13858	1235	20	towards	towards	ADP
cblr-13858	1235	21	broker	broker	NOUN
cblr-13858	1235	22	status	status	NOUN
cblr-13858	1235	23	)	)	PUNCT
cblr-13858	1235	24	;	;	PUNCT
cblr-13858	1235	25	poser	poser	NOUN
cblr-13858	1235	26	&	&	CCONJ
cblr-13858	1235	27	fanto	fanto	PROPN
cblr-13858	1235	28	,	,	PUNCT
cblr-13858	1235	29	supra	supra	PROPN
cblr-13858	1235	30	note	note	PROPN
cblr-13858	1235	31	254	254	NUM
cblr-13858	1235	32	,	,	PUNCT
cblr-13858	1235	33	at	at	ADP
cblr-13858	1235	34	5	5	NUM
cblr-13858	1235	35	-	-	SYM
cblr-13858	1235	36	12	12	NUM
cblr-13858	1235	37	(	(	PUNCT
cblr-13858	1235	38	same	same	ADJ
cblr-13858	1235	39	)	)	PUNCT
cblr-13858	1235	40	.	.	PUNCT
cblr-13858	1236	1	322	322	NUM
cblr-13858	1236	2	task	task	NOUN
cblr-13858	1236	3	force	force	NOUN
cblr-13858	1236	4	on	on	ADP
cblr-13858	1236	5	private	private	ADJ
cblr-13858	1236	6	placement	placement	NOUN
cblr-13858	1236	7	broker	broker	NOUN
cblr-13858	1236	8	-	-	PUNCT
cblr-13858	1236	9	dealers	dealer	NOUN
cblr-13858	1236	10	,	,	PUNCT
cblr-13858	1236	11	supra	supra	PROPN
cblr-13858	1236	12	note	note	PROPN
cblr-13858	1236	13	280	280	NUM
cblr-13858	1236	14	,	,	PUNCT
cblr-13858	1236	15	at	at	ADP
cblr-13858	1236	16	978	978	NUM
cblr-13858	1236	17	.	.	PUNCT
cblr-13858	1237	1	323	323	NUM
cblr-13858	1237	2	see	see	VERB
cblr-13858	1237	3	sec	sec	PROPN
cblr-13858	1237	4	v.	v.	PROPN
cblr-13858	1237	5	margolin	margolin	PROPN
cblr-13858	1237	6	,	,	PUNCT
cblr-13858	1237	7	no	no	NOUN
cblr-13858	1237	8	.	.	NOUN
cblr-13858	1237	9	92	92	NUM
cblr-13858	1237	10	civ	civ	NOUN
cblr-13858	1237	11	.	.	PUNCT
cblr-13858	1238	1	6307	6307	NUM
cblr-13858	1238	2	(	(	PUNCT
cblr-13858	1238	3	pkl	pkl	PROPN
cblr-13858	1238	4	)	)	PUNCT
cblr-13858	1238	5	,	,	PUNCT
cblr-13858	1238	6	1992	1992	NUM
cblr-13858	1238	7	wl	wl	NOUN
cblr-13858	1238	8	279735	279735	NUM
cblr-13858	1238	9	,	,	PUNCT
cblr-13858	1238	10	at	at	ADP
cblr-13858	1238	11	*	*	NOUN
cblr-13858	1238	12	5	5	NUM
cblr-13858	1238	13	(	(	PUNCT
cblr-13858	1238	14	s.d.n.y	s.d.n.y	PROPN
cblr-13858	1238	15	.	.	PUNCT
cblr-13858	1238	16	sept	sept	PROPN
cblr-13858	1238	17	.	.	PROPN
cblr-13858	1238	18	30	30	NUM
cblr-13858	1238	19	,	,	PUNCT
cblr-13858	1238	20	1992	1992	NUM
cblr-13858	1238	21	)	)	PUNCT
cblr-13858	1238	22	;	;	PUNCT
cblr-13858	1238	23	sec	sec	PROPN
cblr-13858	1238	24	v.	v.	ADP
cblr-13858	1238	25	nat'l	nat'l	PROPN
cblr-13858	1238	26	exec	exec	NOUN
cblr-13858	1238	27	.	.	PUNCT
cblr-13858	1239	1	planners	planner	NOUN
cblr-13858	1239	2	,	,	PUNCT
cblr-13858	1239	3	ltd	ltd	PROPN
cblr-13858	1239	4	.	.	PROPN
cblr-13858	1239	5	,	,	PUNCT
cblr-13858	1239	6	503	503	NUM
cblr-13858	1239	7	f.	f.	PROPN
cblr-13858	1239	8	supp	supp	PROPN
cblr-13858	1239	9	.	.	PUNCT
cblr-13858	1239	10	1066	1066	NUM
cblr-13858	1239	11	,	,	PUNCT
cblr-13858	1239	12	1073	1073	NUM
cblr-13858	1239	13	(	(	PUNCT
cblr-13858	1239	14	m.d.n.c	m.d.n.c	PROPN
cblr-13858	1239	15	.	.	NOUN
cblr-13858	1239	16	1980	1980	NUM
cblr-13858	1239	17	)	)	PUNCT
cblr-13858	1239	18	;	;	PUNCT
cblr-13858	1239	19	hazen	hazen	PROPN
cblr-13858	1239	20	,	,	PUNCT
cblr-13858	1239	21	supra	supra	PROPN
cblr-13858	1239	22	note	note	PROPN
cblr-13858	1239	23	43	43	NUM
cblr-13858	1239	24	,	,	PUNCT
cblr-13858	1239	25	at	at	ADP
cblr-13858	1239	26	210	210	NUM
cblr-13858	1239	27	;	;	PUNCT
cblr-13858	1239	28	lipton	lipton	PROPN
cblr-13858	1239	29	,	,	PUNCT
cblr-13858	1239	30	64	64	NUM
cblr-13858	1239	31	col	col	PROPN
cblr-13858	1239	32	umia	umia	PROPN
cblr-13858	1239	33	b	b	PROPN
cblr-13858	1240	1	usiness	usiness	PROPN
cblr-13858	1240	2	la	la	PROPN
cblr-13858	1240	3	w	w	PROPN
cblr-13858	1240	4	re	re	PROPN
cblr-13858	1240	5	vie	vie	PROPN
cblr-13858	1240	6	w	w	PROPN
cblr-13858	1241	1	[	[	X
cblr-13858	1241	2	vol	vol	NOUN
cblr-13858	1241	3	.	.	NOUN
cblr-13858	1241	4	20	20	NUM
cblr-13858	1241	5	12	12	NUM
cblr-13858	1241	6	crowdfunding	crowdfunding	NOUN
cblr-13858	1241	7	and	and	CCONJ
cblr-13858	1241	8	securities	security	NOUN
cblr-13858	1241	9	laws	law	NOUN
cblr-13858	1241	10	question	question	NOUN
cblr-13858	1241	11	is	be	AUX
cblr-13858	1241	12	whether	whether	SCONJ
cblr-13858	1241	13	the	the	DET
cblr-13858	1241	14	possible	possible	ADJ
cblr-13858	1241	15	broker	broker	NOUN
cblr-13858	1241	16	is	be	AUX
cblr-13858	1241	17	contacting	contact	VERB
cblr-13858	1241	18	investors	investor	NOUN
cblr-13858	1241	19	with	with	ADP
cblr-13858	1241	20	whom	whom	PRON
cblr-13858	1241	21	it	it	PRON
cblr-13858	1241	22	has	have	VERB
cblr-13858	1241	23	a	a	DET
cblr-13858	1241	24	preexisting	preexist	VERB
cblr-13858	1241	25	relationship	relationship	NOUN
cblr-13858	1241	26	or	or	CCONJ
cblr-13858	1241	27	is	be	AUX
cblr-13858	1241	28	instead	instead	ADV
cblr-13858	1241	29	actively	actively	ADV
cblr-13858	1241	30	identifying	identify	VERB
cblr-13858	1241	31	previously	previously	ADV
cblr-13858	1241	32	unknown	unknown	ADJ
cblr-13858	1241	33	third	third	ADJ
cblr-13858	1241	34	parties	party	NOUN
cblr-13858	1241	35	;	;	PUNCT
cblr-13858	1241	36	the	the	DET
cblr-13858	1241	37	latter	latter	ADJ
cblr-13858	1241	38	qualifies	qualify	VERB
cblr-13858	1241	39	as	as	ADP
cblr-13858	1241	40	a	a	DET
cblr-13858	1241	41	solicitation.3	solicitation.3	PROPN
cblr-13858	1241	42	24	24	NUM
cblr-13858	1241	43	a	a	DET
cblr-13858	1241	44	public	public	ADJ
cblr-13858	1241	45	web	web	NOUN
cblr-13858	1241	46	site	site	NOUN
cblr-13858	1241	47	,	,	PUNCT
cblr-13858	1241	48	by	by	ADP
cblr-13858	1241	49	definition	definition	NOUN
cblr-13858	1241	50	,	,	PUNCT
cblr-13858	1241	51	is	be	AUX
cblr-13858	1241	52	engaged	engage	VERB
cblr-13858	1241	53	in	in	ADP
cblr-13858	1241	54	continued	continued	ADJ
cblr-13858	1241	55	public	public	ADJ
cblr-13858	1241	56	solicitation	solicitation	NOUN
cblr-13858	1241	57	,	,	PUNCT
cblr-13858	1241	58	even	even	ADV
cblr-13858	1241	59	if	if	SCONJ
cblr-13858	1241	60	it	it	PRON
cblr-13858	1241	61	does	do	AUX
cblr-13858	1241	62	not	not	PART
cblr-13858	1241	63	otherwise	otherwise	ADV
cblr-13858	1241	64	advertise	advertise	VERB
cblr-13858	1241	65	.	.	PUNCT
cblr-13858	1242	1	moreover	moreover	ADV
cblr-13858	1242	2	,	,	PUNCT
cblr-13858	1242	3	"	"	PUNCT
cblr-13858	1242	4	mere	mere	ADJ
cblr-13858	1242	5	repeated	repeat	VERB
cblr-13858	1242	6	advertising	advertising	NOUN
cblr-13858	1242	7	to	to	PART
cblr-13858	1242	8	purchase	purchase	VERB
cblr-13858	1242	9	or	or	CCONJ
cblr-13858	1242	10	sell	sell	VERB
cblr-13858	1242	11	securities	security	NOUN
cblr-13858	1242	12	would	would	AUX
cblr-13858	1242	13	trigger	trigger	VERB
cblr-13858	1242	14	the	the	DET
cblr-13858	1242	15	broker	broker	NOUN
cblr-13858	1242	16	-	-	PUNCT
cblr-13858	1242	17	dealer	dealer	NOUN
cblr-13858	1242	18	registration	registration	NOUN
cblr-13858	1242	19	requirement	requirement	NOUN
cblr-13858	1242	20	.	.	PUNCT
cblr-13858	1243	1	"32	"32	PROPN
cblr-13858	1243	2	5	5	NUM
cblr-13858	1243	3	however	however	ADV
cblr-13858	1243	4	,	,	PUNCT
cblr-13858	1243	5	the	the	DET
cblr-13858	1243	6	sec	sec	PROPN
cblr-13858	1243	7	staff	staff	NOUN
cblr-13858	1243	8	has	have	AUX
cblr-13858	1243	9	approved	approve	VERB
cblr-13858	1243	10	several	several	ADJ
cblr-13858	1243	11	web	web	NOUN
cblr-13858	1243	12	-	-	PUNCT
cblr-13858	1243	13	based	base	VERB
cblr-13858	1243	14	electronic	electronic	ADJ
cblr-13858	1243	15	matching	matching	NOUN
cblr-13858	1243	16	systems	system	NOUN
cblr-13858	1243	17	,	,	PUNCT
cblr-13858	1243	18	so	so	SCONJ
cblr-13858	1243	19	a	a	DET
cblr-13858	1243	20	web	web	NOUN
cblr-13858	1243	21	presence	presence	NOUN
cblr-13858	1243	22	alone	alone	ADV
cblr-13858	1243	23	is	be	AUX
cblr-13858	1243	24	not	not	PART
cblr-13858	1243	25	sufficient	sufficient	ADJ
cblr-13858	1243	26	to	to	PART
cblr-13858	1243	27	make	make	VERB
cblr-13858	1243	28	one	one	NUM
cblr-13858	1243	29	a	a	DET
cblr-13858	1243	30	broker	broker	NOUN
cblr-13858	1243	31	.	.	PUNCT
cblr-13858	1244	1	the	the	DET
cblr-13858	1244	2	line	line	NOUN
cblr-13858	1244	3	between	between	ADP
cblr-13858	1244	4	acceptable	acceptable	ADJ
cblr-13858	1244	5	and	and	CCONJ
cblr-13858	1244	6	unacceptable	unacceptable	ADJ
cblr-13858	1244	7	solicitation	solicitation	NOUN
cblr-13858	1244	8	and	and	CCONJ
cblr-13858	1244	9	advertising	advertising	NOUN
cblr-13858	1244	10	is	be	AUX
cblr-13858	1244	11	hazy	hazy	ADJ
cblr-13858	1244	12	.	.	PUNCT
cblr-13858	1245	1	the	the	DET
cblr-13858	1245	2	sec	sec	PROPN
cblr-13858	1245	3	"	"	PUNCT
cblr-13858	1245	4	has	have	AUX
cblr-13858	1245	5	not	not	PART
cblr-13858	1245	6	provided	provide	VERB
cblr-13858	1245	7	much	much	ADJ
cblr-13858	1245	8	guidance	guidance	NOUN
cblr-13858	1245	9	on	on	ADP
cblr-13858	1245	10	what	what	PRON
cblr-13858	1245	11	activities	activity	NOUN
cblr-13858	1245	12	constitute	constitute	VERB
cblr-13858	1245	13	solicitation	solicitation	NOUN
cblr-13858	1245	14	or	or	CCONJ
cblr-13858	1245	15	advertising	advertising	NOUN
cblr-13858	1245	16	sufficient	sufficient	ADJ
cblr-13858	1245	17	to	to	PART
cblr-13858	1245	18	trigger	trigger	VERB
cblr-13858	1245	19	broker	broker	NOUN
cblr-13858	1245	20	-	-	PUNCT
cblr-13858	1245	21	dealer	dealer	NOUN
cblr-13858	1245	22	registration	registration	NOUN
cblr-13858	1245	23	.	.	PUNCT
cblr-13858	1246	1	."326	."326	PUNCT
cblr-13858	1246	2	for	for	ADP
cblr-13858	1246	3	example	example	NOUN
cblr-13858	1246	4	,	,	PUNCT
cblr-13858	1246	5	the	the	DET
cblr-13858	1246	6	sec	sec	PROPN
cblr-13858	1246	7	staff	staff	NOUN
cblr-13858	1246	8	granted	grant	VERB
cblr-13858	1246	9	no	no	DET
cblr-13858	1246	10	-	-	PUNCT
cblr-13858	1246	11	action	action	NOUN
cblr-13858	1246	12	relief	relief	NOUN
cblr-13858	1246	13	to	to	PART
cblr-13858	1246	14	venture	venture	VERB
cblr-13858	1246	15	capital	capital	NOUN
cblr-13858	1246	16	resources	resource	NOUN
cblr-13858	1246	17	,	,	PUNCT
cblr-13858	1246	18	inc	inc	PROPN
cblr-13858	1246	19	.	.	PROPN
cblr-13858	1246	20	,	,	PUNCT
cblr-13858	1246	21	which	which	PRON
cblr-13858	1246	22	planned	plan	VERB
cblr-13858	1246	23	to	to	PART
cblr-13858	1246	24	publicize	publicize	VERB
cblr-13858	1246	25	its	its	PRON
cblr-13858	1246	26	system	system	NOUN
cblr-13858	1246	27	through	through	ADP
cblr-13858	1246	28	one	one	NUM
cblr-13858	1246	29	-	-	PUNCT
cblr-13858	1246	30	onone	onone	NOUN
cblr-13858	1246	31	discussions	discussion	NOUN
cblr-13858	1246	32	with	with	ADP
cblr-13858	1246	33	potential	potential	ADJ
cblr-13858	1246	34	investors	investor	NOUN
cblr-13858	1246	35	,	,	PUNCT
cblr-13858	1246	36	contacting	contact	VERB
cblr-13858	1246	37	the	the	DET
cblr-13858	1246	38	clients	client	NOUN
cblr-13858	1246	39	of	of	ADP
cblr-13858	1246	40	accountants	accountant	NOUN
cblr-13858	1246	41	and	and	CCONJ
cblr-13858	1246	42	attorneys	attorney	NOUN
cblr-13858	1246	43	,	,	PUNCT
cblr-13858	1246	44	a	a	DET
cblr-13858	1246	45	"	"	PUNCT
cblr-13858	1246	46	selected	select	VERB
cblr-13858	1246	47	mailing	mailing	NOUN
cblr-13858	1246	48	program	program	NOUN
cblr-13858	1246	49	,	,	PUNCT
cblr-13858	1246	50	"	"	PUNCT
cblr-13858	1246	51	press	press	NOUN
cblr-13858	1246	52	releases	release	NOUN
cblr-13858	1246	53	,	,	PUNCT
cblr-13858	1246	54	advertisements	advertisement	NOUN
cblr-13858	1246	55	,	,	PUNCT
cblr-13858	1246	56	and	and	CCONJ
cblr-13858	1246	57	the	the	DET
cblr-13858	1246	58	distribution	distribution	NOUN
cblr-13858	1246	59	of	of	ADP
cblr-13858	1246	60	brochures	brochure	NOUN
cblr-13858	1246	61	through	through	ADP
cblr-13858	1246	62	local	local	ADJ
cblr-13858	1246	63	financial	financial	ADJ
cblr-13858	1246	64	institutions.327	institutions.327	NOUN
cblr-13858	1246	65	the	the	DET
cblr-13858	1246	66	sec	sec	PROPN
cblr-13858	1246	67	also	also	ADV
cblr-13858	1246	68	granted	grant	VERB
cblr-13858	1246	69	relief	relief	NOUN
cblr-13858	1246	70	to	to	ADP
cblr-13858	1246	71	a	a	DET
cblr-13858	1246	72	non	non	ADJ
cblr-13858	1246	73	-	-	ADJ
cblr-13858	1246	74	profit	profit	ADJ
cblr-13858	1246	75	matching	matching	NOUN
cblr-13858	1246	76	service	service	NOUN
cblr-13858	1246	77	that	that	PRON
cblr-13858	1246	78	planned	plan	VERB
cblr-13858	1246	79	to	to	PART
cblr-13858	1246	80	publicize	publicize	VERB
cblr-13858	1246	81	the	the	DET
cblr-13858	1246	82	system	system	NOUN
cblr-13858	1246	83	through	through	ADP
cblr-13858	1246	84	accounting	accounting	NOUN
cblr-13858	1246	85	firms	firm	NOUN
cblr-13858	1246	86	,	,	PUNCT
cblr-13858	1246	87	law	law	NOUN
cblr-13858	1246	88	firms	firm	NOUN
cblr-13858	1246	89	,	,	PUNCT
cblr-13858	1246	90	local	local	ADJ
cblr-13858	1246	91	universities	university	NOUN
cblr-13858	1246	92	,	,	PUNCT
cblr-13858	1246	93	and	and	CCONJ
cblr-13858	1246	94	non	non	ADJ
cblr-13858	1246	95	-	-	ADJ
cblr-13858	1246	96	profit	profit	ADJ
cblr-13858	1246	97	organizations	organization	NOUN
cblr-13858	1246	98	interested	interested	ADJ
cblr-13858	1246	99	in	in	ADP
cblr-13858	1246	100	economic	economic	ADJ
cblr-13858	1246	101	development	development	NOUN
cblr-13858	1246	102	,	,	PUNCT
cblr-13858	1246	103	as	as	ADV
cblr-13858	1246	104	well	well	ADV
cblr-13858	1246	105	as	as	ADP
cblr-13858	1246	106	by	by	ADP
cblr-13858	1246	107	distributing	distribute	VERB
cblr-13858	1246	108	pamphlets	pamphlet	NOUN
cblr-13858	1246	109	and	and	CCONJ
cblr-13858	1246	110	brochures	brochure	NOUN
cblr-13858	1246	111	to	to	ADP
cblr-13858	1246	112	interested	interested	ADJ
cblr-13858	1246	113	individuals	individual	NOUN
cblr-13858	1246	114	and	and	CCONJ
cblr-13858	1246	115	groups	group	NOUN
cblr-13858	1246	116	.	.	PUNCT
cblr-13858	1247	1	328	328	NUM
cblr-13858	1248	1	but	but	CCONJ
cblr-13858	1248	2	the	the	DET
cblr-13858	1248	3	sec	sec	PROPN
cblr-13858	1248	4	has	have	AUX
cblr-13858	1248	5	indicated	indicate	VERB
cblr-13858	1248	6	that	that	SCONJ
cblr-13858	1248	7	a	a	DET
cblr-13858	1248	8	for	for	ADP
cblr-13858	1248	9	-	-	PUNCT
cblr-13858	1248	10	profit	profit	NOUN
cblr-13858	1248	11	web	web	NOUN
cblr-13858	1248	12	site	site	NOUN
cblr-13858	1248	13	would	would	AUX
cblr-13858	1248	14	be	be	AUX
cblr-13858	1248	15	a	a	DET
cblr-13858	1248	16	broker	broker	NOUN
cblr-13858	1248	17	because	because	SCONJ
cblr-13858	1248	18	,	,	PUNCT
cblr-13858	1248	19	among	among	ADP
cblr-13858	1248	20	other	other	ADJ
cblr-13858	1248	21	things	thing	NOUN
cblr-13858	1248	22	,	,	PUNCT
cblr-13858	1248	23	it	it	PRON
cblr-13858	1248	24	"	"	PUNCT
cblr-13858	1248	25	actively	actively	ADV
cblr-13858	1248	26	solicits	solicit	VERB
cblr-13858	1248	27	investors	investor	NOUN
cblr-13858	1248	28	to	to	ADP
cblr-13858	1248	29	supra	supra	PROPN
cblr-13858	1248	30	note	note	PROPN
cblr-13858	1248	31	253	253	NUM
cblr-13858	1248	32	,	,	PUNCT
cblr-13858	1248	33	at	at	ADP
cblr-13858	1248	34	1	1	NUM
cblr-13858	1248	35	-	-	SYM
cblr-13858	1248	36	42.13	42.13	NUM
cblr-13858	1248	37	;	;	PUNCT
cblr-13858	1248	38	poser	poser	NOUN
cblr-13858	1248	39	&	&	CCONJ
cblr-13858	1248	40	fanto	fanto	PROPN
cblr-13858	1248	41	,	,	PUNCT
cblr-13858	1248	42	supra	supra	PROPN
cblr-13858	1248	43	note	note	PROPN
cblr-13858	1248	44	254	254	NUM
cblr-13858	1248	45	,	,	PUNCT
cblr-13858	1248	46	at	at	ADP
cblr-13858	1248	47	5	5	NUM
cblr-13858	1248	48	-	-	SYM
cblr-13858	1248	49	12	12	NUM
cblr-13858	1248	50	;	;	PUNCT
cblr-13858	1248	51	task	task	NOUN
cblr-13858	1248	52	force	force	NOUN
cblr-13858	1248	53	on	on	ADP
cblr-13858	1248	54	private	private	ADJ
cblr-13858	1248	55	placement	placement	NOUN
cblr-13858	1248	56	broker	broker	NOUN
cblr-13858	1248	57	-	-	PUNCT
cblr-13858	1248	58	dealers	dealer	NOUN
cblr-13858	1248	59	,	,	PUNCT
cblr-13858	1248	60	supra	supra	PROPN
cblr-13858	1248	61	note	note	PROPN
cblr-13858	1248	62	280	280	NUM
cblr-13858	1248	63	,	,	PUNCT
cblr-13858	1248	64	at	at	ADP
cblr-13858	1248	65	975	975	NUM
cblr-13858	1248	66	.	.	PUNCT
cblr-13858	1249	1	324	324	NUM
cblr-13858	1249	2	orcutt	orcutt	NOUN
cblr-13858	1249	3	,	,	PUNCT
cblr-13858	1249	4	supra	supra	PROPN
cblr-13858	1249	5	note	note	NOUN
cblr-13858	1249	6	255	255	NUM
cblr-13858	1249	7	,	,	PUNCT
cblr-13858	1249	8	at	at	ADP
cblr-13858	1249	9	914	914	NUM
cblr-13858	1249	10	.	.	PUNCT
cblr-13858	1250	1	325	325	NUM
cblr-13858	1250	2	lipton	lipton	PROPN
cblr-13858	1250	3	,	,	PUNCT
cblr-13858	1250	4	supra	supra	PROPN
cblr-13858	1250	5	note	note	PROPN
cblr-13858	1250	6	253	253	NUM
cblr-13858	1250	7	,	,	PUNCT
cblr-13858	1250	8	at	at	ADP
cblr-13858	1250	9	1	1	NUM
cblr-13858	1250	10	-	-	SYM
cblr-13858	1250	11	42.13	42.13	NUM
cblr-13858	1250	12	.	.	PUNCT
cblr-13858	1251	1	326	326	NUM
cblr-13858	1251	2	task	task	NOUN
cblr-13858	1251	3	force	force	NOUN
cblr-13858	1251	4	on	on	ADP
cblr-13858	1251	5	private	private	ADJ
cblr-13858	1251	6	placement	placement	NOUN
cblr-13858	1251	7	broker	broker	NOUN
cblr-13858	1251	8	-	-	PUNCT
cblr-13858	1251	9	dealers	dealer	NOUN
cblr-13858	1251	10	,	,	PUNCT
cblr-13858	1251	11	supra	supra	PROPN
cblr-13858	1251	12	note	note	PROPN
cblr-13858	1251	13	280	280	NUM
cblr-13858	1251	14	,	,	PUNCT
cblr-13858	1251	15	at	at	ADP
cblr-13858	1251	16	979	979	NUM
cblr-13858	1251	17	.	.	PUNCT
cblr-13858	1252	1	327	327	NUM
cblr-13858	1252	2	venture	venture	NOUN
cblr-13858	1252	3	capital	capital	NOUN
cblr-13858	1252	4	res	re	NOUN
cblr-13858	1252	5	.	.	PROPN
cblr-13858	1252	6	,	,	PUNCT
cblr-13858	1252	7	inc	inc	PROPN
cblr-13858	1252	8	.	.	PROPN
cblr-13858	1252	9	,	,	PUNCT
cblr-13858	1252	10	sec	sec	PROPN
cblr-13858	1252	11	no	no	DET
cblr-13858	1252	12	-	-	PUNCT
cblr-13858	1252	13	action	action	NOUN
cblr-13858	1252	14	letter	letter	NOUN
cblr-13858	1252	15	,	,	PUNCT
cblr-13858	1252	16	1985	1985	NUM
cblr-13858	1252	17	wl	wl	X
cblr-13858	1252	18	55644	55644	NUM
cblr-13858	1252	19	(	(	PUNCT
cblr-13858	1252	20	oct	oct	PROPN
cblr-13858	1252	21	.	.	PROPN
cblr-13858	1252	22	25	25	NUM
cblr-13858	1252	23	,	,	PUNCT
cblr-13858	1252	24	1985	1985	NUM
cblr-13858	1252	25	)	)	PUNCT
cblr-13858	1252	26	.	.	PUNCT
cblr-13858	1253	1	328	328	NUM
cblr-13858	1253	2	atlanta	atlanta	PROPN
cblr-13858	1253	3	econ	econ	PROPN
cblr-13858	1253	4	.	.	PUNCT
cblr-13858	1254	1	dev	dev	PROPN
cblr-13858	1254	2	.	.	PROPN
cblr-13858	1254	3	corp	corp	PROPN
cblr-13858	1254	4	.	.	PROPN
cblr-13858	1254	5	,	,	PUNCT
cblr-13858	1254	6	sec	sec	PROPN
cblr-13858	1254	7	no	no	DET
cblr-13858	1254	8	-	-	PUNCT
cblr-13858	1254	9	action	action	NOUN
cblr-13858	1254	10	letter	letter	NOUN
cblr-13858	1254	11	,	,	PUNCT
cblr-13858	1254	12	1987	1987	NUM
cblr-13858	1254	13	wl	wl	PROPN
cblr-13858	1254	14	107835	107835	NUM
cblr-13858	1254	15	(	(	PUNCT
cblr-13858	1254	16	feb	feb	PROPN
cblr-13858	1254	17	.	.	PROPN
cblr-13858	1254	18	17	17	NUM
cblr-13858	1254	19	,	,	PUNCT
cblr-13858	1254	20	1987	1987	NUM
cblr-13858	1254	21	)	)	PUNCT
cblr-13858	1254	22	.	.	PUNCT
cblr-13858	1255	1	no	no	INTJ
cblr-13858	1255	2	.	.	NOUN
cblr-13858	1256	1	1	1	NUM
cblr-13858	1256	2	:	:	SYM
cblr-13858	1256	3	1	1	NUM
cblr-13858	1256	4	]	]	SYM
cblr-13858	1256	5	65	65	NUM
cblr-13858	1256	6	columbia	columbia	PROPN
cblr-13858	1256	7	business	business	NOUN
cblr-13858	1256	8	la	la	PROPN
cblr-13858	1256	9	wreview	wreview	NOUN
cblr-13858	1256	10	purchase	purchase	NOUN
cblr-13858	1256	11	oil	oil	NOUN
cblr-13858	1256	12	and	and	CCONJ
cblr-13858	1256	13	gas	gas	NOUN
cblr-13858	1256	14	interests	interest	NOUN
cblr-13858	1256	15	(	(	PUNCT
cblr-13858	1256	16	for	for	ADP
cblr-13858	1256	17	example	example	NOUN
cblr-13858	1256	18	,	,	PUNCT
cblr-13858	1256	19	by	by	ADP
cblr-13858	1256	20	targeting	target	VERB
cblr-13858	1256	21	potential	potential	ADJ
cblr-13858	1256	22	investors	investor	NOUN
cblr-13858	1256	23	with	with	ADP
cblr-13858	1256	24	direct	direct	ADJ
cblr-13858	1256	25	mailings	mailing	NOUN
cblr-13858	1256	26	and	and	CCONJ
cblr-13858	1256	27	follow	follow	VERB
cblr-13858	1256	28	-	-	PUNCT
cblr-13858	1256	29	up	up	ADP
cblr-13858	1256	30	email)."329	email)."329	PROPN
cblr-13858	1256	31	e.	e.	PROPN
cblr-13858	1256	32	for	for	ADP
cblr-13858	1256	33	-	-	PUNCT
cblr-13858	1256	34	profit	profit	NOUN
cblr-13858	1256	35	status	status	NOUN
cblr-13858	1256	36	finally	finally	ADV
cblr-13858	1256	37	,	,	PUNCT
cblr-13858	1256	38	many	many	ADJ
cblr-13858	1256	39	crowdfunding	crowdfunding	NOUN
cblr-13858	1256	40	sites	site	NOUN
cblr-13858	1256	41	are	be	AUX
cblr-13858	1256	42	for	for	ADP
cblr-13858	1256	43	-	-	PUNCT
cblr-13858	1256	44	profit	profit	NOUN
cblr-13858	1256	45	entities	entity	NOUN
cblr-13858	1256	46	.	.	PUNCT
cblr-13858	1257	1	almost	almost	ADV
cblr-13858	1257	2	all	all	PRON
cblr-13858	1257	3	of	of	ADP
cblr-13858	1257	4	the	the	DET
cblr-13858	1257	5	no	no	DET
cblr-13858	1257	6	-	-	PUNCT
cblr-13858	1257	7	action	action	NOUN
cblr-13858	1257	8	letters	letter	NOUN
cblr-13858	1257	9	have	have	AUX
cblr-13858	1257	10	involved	involve	VERB
cblr-13858	1257	11	"	"	PUNCT
cblr-13858	1257	12	state	state	NOUN
cblr-13858	1257	13	instrumentalities	instrumentality	NOUN
cblr-13858	1257	14	,	,	PUNCT
cblr-13858	1257	15	private	private	ADJ
cblr-13858	1257	16	non	non	ADJ
cblr-13858	1257	17	-	-	ADJ
cblr-13858	1257	18	profit	profit	ADJ
cblr-13858	1257	19	corporations	corporation	NOUN
cblr-13858	1257	20	,	,	PUNCT
cblr-13858	1257	21	and	and	CCONJ
cblr-13858	1257	22	quasigovernmental	quasigovernmental	ADJ
cblr-13858	1257	23	organizations,"3	organizations,"3	ADJ
cblr-13858	1257	24	30	30	NUM
cblr-13858	1257	25	and	and	CCONJ
cblr-13858	1257	26	the	the	DET
cblr-13858	1257	27	staff	staff	NOUN
cblr-13858	1257	28	has	have	AUX
cblr-13858	1257	29	generally	generally	ADV
cblr-13858	1257	30	required	require	VERB
cblr-13858	1257	31	representations	representation	NOUN
cblr-13858	1257	32	that	that	SCONJ
cblr-13858	1257	33	these	these	DET
cblr-13858	1257	34	systems	system	NOUN
cblr-13858	1257	35	would	would	AUX
cblr-13858	1257	36	be	be	AUX
cblr-13858	1257	37	run	run	VERB
cblr-13858	1257	38	solely	solely	ADV
cblr-13858	1257	39	on	on	ADP
cblr-13858	1257	40	a	a	DET
cblr-13858	1257	41	cost	cost	NOUN
cblr-13858	1257	42	-	-	PUNCT
cblr-13858	1257	43	recovery	recovery	NOUN
cblr-13858	1257	44	basis	basis	NOUN
cblr-13858	1257	45	,	,	PUNCT
cblr-13858	1257	46	and	and	CCONJ
cblr-13858	1257	47	not	not	PART
cblr-13858	1257	48	for	for	ADP
cblr-13858	1257	49	profit.31	profit.31	NOUN
cblr-13858	1257	50	forprofit	forprofit	X
cblr-13858	1257	51	status	status	NOUN
cblr-13858	1257	52	does	do	AUX
cblr-13858	1257	53	not	not	PART
cblr-13858	1257	54	automatically	automatically	ADV
cblr-13858	1257	55	make	make	VERB
cblr-13858	1257	56	one	one	NUM
cblr-13858	1257	57	a	a	DET
cblr-13858	1257	58	broker	broker	NOUN
cblr-13858	1257	59	.	.	PUNCT
cblr-13858	1258	1	the	the	DET
cblr-13858	1258	2	sec	sec	PROPN
cblr-13858	1258	3	staff	staff	NOUN
cblr-13858	1258	4	has	have	AUX
cblr-13858	1258	5	granted	grant	VERB
cblr-13858	1258	6	no	no	DET
cblr-13858	1258	7	-	-	PUNCT
cblr-13858	1258	8	action	action	NOUN
cblr-13858	1258	9	relief	relief	NOUN
cblr-13858	1258	10	to	to	ADP
cblr-13858	1258	11	a	a	DET
cblr-13858	1258	12	few	few	ADJ
cblr-13858	1258	13	private	private	ADJ
cblr-13858	1258	14	matching	matching	NOUN
cblr-13858	1258	15	sites	site	NOUN
cblr-13858	1258	16	.	.	PUNCT
cblr-13858	1259	1	however	however	ADV
cblr-13858	1259	2	,	,	PUNCT
cblr-13858	1259	3	none	none	NOUN
cblr-13858	1259	4	of	of	ADP
cblr-13858	1259	5	those	those	DET
cblr-13858	1259	6	sites	site	NOUN
cblr-13858	1259	7	received	receive	VERB
cblr-13858	1259	8	transaction	transaction	NOUN
cblr-13858	1259	9	-	-	PUNCT
cblr-13858	1259	10	based	base	VERB
cblr-13858	1259	11	compensation	compensation	NOUN
cblr-13858	1259	12	,	,	PUNCT
cblr-13858	1259	13	and	and	CCONJ
cblr-13858	1259	14	in	in	ADP
cblr-13858	1259	15	all	all	DET
cblr-13858	1259	16	those	those	DET
cblr-13858	1259	17	cases	case	NOUN
cblr-13858	1259	18	the	the	DET
cblr-13858	1259	19	securities	security	NOUN
cblr-13858	1259	20	transactions	transaction	NOUN
cblr-13858	1259	21	were	be	AUX
cblr-13858	1259	22	negotiated	negotiate	VERB
cblr-13858	1259	23	and	and	CCONJ
cblr-13858	1259	24	completed	complete	VERB
cblr-13858	1259	25	,	,	PUNCT
cblr-13858	1259	26	and	and	CCONJ
cblr-13858	1259	27	funds	fund	NOUN
cblr-13858	1259	28	were	be	AUX
cblr-13858	1259	29	transferred	transfer	VERB
cblr-13858	1259	30	,	,	PUNCT
cblr-13858	1259	31	off	off	ADP
cblr-13858	1259	32	the	the	DET
cblr-13858	1259	33	site.332	site.332	NOUN
cblr-13858	1259	34	3	3	NUM
cblr-13858	1259	35	.	.	PUNCT
cblr-13858	1259	36	conclusion	conclusion	NOUN
cblr-13858	1259	37	:	:	PUNCT
cblr-13858	1259	38	would	would	AUX
cblr-13858	1259	39	crowdfunding	crowdfunde	VERB
cblr-13858	1259	40	sites	site	NOUN
cblr-13858	1259	41	be	be	AUX
cblr-13858	1259	42	brokers	broker	NOUN
cblr-13858	1259	43	?	?	PUNCT
cblr-13858	1260	1	given	give	VERB
cblr-13858	1260	2	the	the	DET
cblr-13858	1260	3	messy	messy	ADJ
cblr-13858	1260	4	state	state	NOUN
cblr-13858	1260	5	of	of	ADP
cblr-13858	1260	6	the	the	DET
cblr-13858	1260	7	law	law	NOUN
cblr-13858	1260	8	,	,	PUNCT
cblr-13858	1260	9	no	no	DET
cblr-13858	1260	10	definitive	definitive	ADJ
cblr-13858	1260	11	answer	answer	NOUN
cblr-13858	1260	12	is	be	AUX
cblr-13858	1260	13	possible	possible	ADJ
cblr-13858	1260	14	,	,	PUNCT
cblr-13858	1260	15	but	but	CCONJ
cblr-13858	1260	16	there	there	PRON
cblr-13858	1260	17	is	be	VERB
cblr-13858	1260	18	a	a	DET
cblr-13858	1260	19	strong	strong	ADJ
cblr-13858	1260	20	possibility	possibility	NOUN
cblr-13858	1260	21	that	that	SCONJ
cblr-13858	1260	22	crowdfunding	crowdfunding	NOUN
cblr-13858	1260	23	sites	site	NOUN
cblr-13858	1260	24	would	would	AUX
cblr-13858	1260	25	be	be	AUX
cblr-13858	1260	26	considered	consider	VERB
cblr-13858	1260	27	brokers	broker	NOUN
cblr-13858	1260	28	if	if	SCONJ
cblr-13858	1260	29	they	they	PRON
cblr-13858	1260	30	listed	list	VERB
cblr-13858	1260	31	offerings	offering	NOUN
cblr-13858	1260	32	of	of	ADP
cblr-13858	1260	33	securities	security	NOUN
cblr-13858	1260	34	.	.	PUNCT
cblr-13858	1261	1	the	the	DET
cblr-13858	1261	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1261	3	sites	site	NOUN
cblr-13858	1261	4	'	'	PART
cblr-13858	1261	5	receipt	receipt	NOUN
cblr-13858	1261	6	of	of	ADP
cblr-13858	1261	7	transactionbased	transactionbase	VERB
cblr-13858	1261	8	compensation	compensation	NOUN
cblr-13858	1261	9	,	,	PUNCT
cblr-13858	1261	10	continued	continue	VERB
cblr-13858	1261	11	involvement	involvement	NOUN
cblr-13858	1261	12	in	in	ADP
cblr-13858	1261	13	the	the	DET
cblr-13858	1261	14	investorentrepreneur	investorentrepreneur	NOUN
cblr-13858	1261	15	relationship	relationship	NOUN
cblr-13858	1261	16	,	,	PUNCT
cblr-13858	1261	17	public	public	ADJ
cblr-13858	1261	18	advertising	advertising	NOUN
cblr-13858	1261	19	,	,	PUNCT
cblr-13858	1261	20	and	and	CCONJ
cblr-13858	1261	21	for	for	ADP
cblr-13858	1261	22	-	-	PUNCT
cblr-13858	1261	23	profit	profit	NOUN
cblr-13858	1261	24	329	329	NUM
cblr-13858	1261	25	oil	oil	NOUN
cblr-13858	1261	26	-	-	PUNCT
cblr-13858	1261	27	n	n	CCONJ
cblr-13858	1261	28	-	-	PUNCT
cblr-13858	1261	29	gas	gas	NOUN
cblr-13858	1261	30	,	,	PUNCT
cblr-13858	1261	31	inc	inc	PROPN
cblr-13858	1261	32	.	.	PROPN
cblr-13858	1261	33	,	,	PUNCT
cblr-13858	1261	34	sec	sec	PROPN
cblr-13858	1261	35	no	no	DET
cblr-13858	1261	36	-	-	PUNCT
cblr-13858	1261	37	action	action	NOUN
cblr-13858	1261	38	letter	letter	NOUN
cblr-13858	1261	39	,	,	PUNCT
cblr-13858	1261	40	2000	2000	NUM
cblr-13858	1261	41	wl	wl	NOUN
cblr-13858	1261	42	1119244	1119244	NUM
cblr-13858	1261	43	(	(	PUNCT
cblr-13858	1261	44	june	june	PROPN
cblr-13858	1261	45	8	8	NUM
cblr-13858	1261	46	,	,	PUNCT
cblr-13858	1261	47	2000	2000	NUM
cblr-13858	1261	48	)	)	PUNCT
cblr-13858	1261	49	.	.	PUNCT
cblr-13858	1262	1	30	30	NUM
cblr-13858	1262	2	cf	cf	NOUN
cblr-13858	1262	3	polanin	polanin	NOUN
cblr-13858	1262	4	,	,	PUNCT
cblr-13858	1262	5	supra	supra	PROPN
cblr-13858	1262	6	note	note	PROPN
cblr-13858	1262	7	282	282	NUM
cblr-13858	1262	8	,	,	PUNCT
cblr-13858	1262	9	at	at	ADP
cblr-13858	1262	10	821	821	NUM
cblr-13858	1262	11	.	.	PUNCT
cblr-13858	1263	1	331	331	NUM
cblr-13858	1263	2	i	i	PROPN
cblr-13858	1263	3	d.	d.	PROPN
cblr-13858	1263	4	332	332	NUM
cblr-13858	1263	5	see	see	VERB
cblr-13858	1263	6	investex	investex	NOUN
cblr-13858	1263	7	inv	inv	NOUN
cblr-13858	1263	8	.	.	PUNCT
cblr-13858	1264	1	exch	exch	PROPN
cblr-13858	1264	2	.	.	PROPN
cblr-13858	1264	3	inc	inc	PROPN
cblr-13858	1265	1	.	.	PROPN
cblr-13858	1265	2	,	,	PUNCT
cblr-13858	1265	3	sec	sec	PROPN
cblr-13858	1265	4	no	no	DET
cblr-13858	1265	5	-	-	PUNCT
cblr-13858	1265	6	action	action	NOUN
cblr-13858	1265	7	letter	letter	NOUN
cblr-13858	1265	8	,	,	PUNCT
cblr-13858	1265	9	1990	1990	NUM
cblr-13858	1265	10	wl	wl	NOUN
cblr-13858	1265	11	286331	286331	NUM
cblr-13858	1265	12	(	(	PUNCT
cblr-13858	1265	13	apr	apr	NOUN
cblr-13858	1265	14	.	.	PROPN
cblr-13858	1265	15	9	9	NUM
cblr-13858	1265	16	,	,	PUNCT
cblr-13858	1265	17	1990	1990	NUM
cblr-13858	1265	18	)	)	PUNCT
cblr-13858	1265	19	;	;	PUNCT
cblr-13858	1265	20	petroleum	petroleum	NOUN
cblr-13858	1265	21	info	info	NOUN
cblr-13858	1265	22	.	.	PUNCT
cblr-13858	1265	23	corp	corp	PROPN
cblr-13858	1265	24	.	.	PROPN
cblr-13858	1265	25	,	,	PUNCT
cblr-13858	1265	26	sec	sec	PROPN
cblr-13858	1265	27	no	no	DET
cblr-13858	1265	28	-	-	PUNCT
cblr-13858	1265	29	action	action	NOUN
cblr-13858	1265	30	letter	letter	NOUN
cblr-13858	1265	31	,	,	PUNCT
cblr-13858	1265	32	1989	1989	NUM
cblr-13858	1265	33	wl	wl	NOUN
cblr-13858	1265	34	246625	246625	NUM
cblr-13858	1265	35	(	(	PUNCT
cblr-13858	1265	36	nov	nov	PROPN
cblr-13858	1265	37	.	.	PROPN
cblr-13858	1265	38	28	28	NUM
cblr-13858	1265	39	,	,	PUNCT
cblr-13858	1265	40	1989	1989	NUM
cblr-13858	1265	41	)	)	PUNCT
cblr-13858	1265	42	;	;	PUNCT
cblr-13858	1265	43	internet	internet	NOUN
cblr-13858	1265	44	capital	capital	PROPN
cblr-13858	1265	45	corp	corp	PROPN
cblr-13858	1265	46	.	.	PROPN
cblr-13858	1265	47	,	,	PUNCT
cblr-13858	1265	48	sec	sec	PROPN
cblr-13858	1265	49	no	no	DET
cblr-13858	1265	50	-	-	PUNCT
cblr-13858	1265	51	action	action	NOUN
cblr-13858	1265	52	letter	letter	NOUN
cblr-13858	1265	53	,	,	PUNCT
cblr-13858	1265	54	1997	1997	NUM
cblr-13858	1265	55	wl	wl	X
cblr-13858	1265	56	796944	796944	NUM
cblr-13858	1265	57	(	(	PUNCT
cblr-13858	1265	58	dec	dec	PROPN
cblr-13858	1265	59	.	.	PROPN
cblr-13858	1265	60	24	24	NUM
cblr-13858	1265	61	,	,	PUNCT
cblr-13858	1265	62	1997	1997	NUM
cblr-13858	1265	63	)	)	PUNCT
cblr-13858	1265	64	.	.	PUNCT
cblr-13858	1266	1	but	but	CCONJ
cblr-13858	1266	2	see	see	VERB
cblr-13858	1266	3	oilore.com	oilore.com	NUM
cblr-13858	1266	4	,	,	PUNCT
cblr-13858	1266	5	sec	sec	PROPN
cblr-13858	1266	6	no	no	DET
cblr-13858	1266	7	-	-	PUNCT
cblr-13858	1266	8	action	action	NOUN
cblr-13858	1266	9	letter	letter	NOUN
cblr-13858	1266	10	,	,	PUNCT
cblr-13858	1266	11	2000	2000	NUM
cblr-13858	1266	12	wl	wl	NOUN
cblr-13858	1266	13	546573	546573	NUM
cblr-13858	1266	14	(	(	PUNCT
cblr-13858	1266	15	apr	apr	PROPN
cblr-13858	1266	16	.	.	PROPN
cblr-13858	1266	17	21	21	NUM
cblr-13858	1266	18	,	,	PUNCT
cblr-13858	1266	19	2000	2000	NUM
cblr-13858	1266	20	)	)	PUNCT
cblr-13858	1266	21	(	(	PUNCT
cblr-13858	1266	22	denying	deny	VERB
cblr-13858	1266	23	no	no	DET
cblr-13858	1266	24	-	-	PUNCT
cblr-13858	1266	25	action	action	NOUN
cblr-13858	1266	26	relief	relief	NOUN
cblr-13858	1266	27	to	to	ADP
cblr-13858	1266	28	a	a	DET
cblr-13858	1266	29	forprofit	forprofit	NOUN
cblr-13858	1266	30	entity	entity	NOUN
cblr-13858	1266	31	that	that	PRON
cblr-13858	1266	32	was	be	AUX
cblr-13858	1266	33	to	to	PART
cblr-13858	1266	34	receive	receive	VERB
cblr-13858	1266	35	compensation	compensation	NOUN
cblr-13858	1266	36	contingent	contingent	NOUN
cblr-13858	1266	37	on	on	ADP
cblr-13858	1266	38	the	the	DET
cblr-13858	1266	39	investor	investor	NOUN
cblr-13858	1266	40	making	make	VERB
cblr-13858	1266	41	an	an	DET
cblr-13858	1266	42	investment	investment	NOUN
cblr-13858	1266	43	)	)	PUNCT
cblr-13858	1266	44	.	.	PUNCT
cblr-13858	1267	1	66	66	NUM
cblr-13858	1268	1	[	[	X
cblr-13858	1268	2	vol	vol	NOUN
cblr-13858	1268	3	.	.	X
cblr-13858	1268	4	2012	2012	NUM
cblr-13858	1268	5	status	status	NOUN
cblr-13858	1268	6	may	may	AUX
cblr-13858	1268	7	cumulatively	cumulatively	ADV
cblr-13858	1268	8	be	be	AUX
cblr-13858	1268	9	too	too	ADV
cblr-13858	1268	10	much	much	ADJ
cblr-13858	1268	11	to	to	PART
cblr-13858	1268	12	allow	allow	VERB
cblr-13858	1268	13	them	they	PRON
cblr-13858	1268	14	to	to	PART
cblr-13858	1268	15	avoid	avoid	VERB
cblr-13858	1268	16	broker	broker	NOUN
cblr-13858	1268	17	status	status	NOUN
cblr-13858	1268	18	.	.	PUNCT
cblr-13858	1269	1	c.	c.	PROPN
cblr-13858	1269	2	are	be	AUX
cblr-13858	1269	3	crowdfunding	crowdfunde	VERB
cblr-13858	1269	4	sites	site	NOUN
cblr-13858	1269	5	investment	investment	NOUN
cblr-13858	1269	6	advisers	adviser	NOUN
cblr-13858	1269	7	?	?	PUNCT
cblr-13858	1270	1	crowdfunding	crowdfunde	VERB
cblr-13858	1270	2	sites	site	NOUN
cblr-13858	1270	3	might	might	AUX
cblr-13858	1270	4	also	also	ADV
cblr-13858	1270	5	be	be	AUX
cblr-13858	1270	6	investment	investment	NOUN
cblr-13858	1270	7	advisers	adviser	NOUN
cblr-13858	1270	8	.	.	PUNCT
cblr-13858	1271	1	within	within	ADP
cblr-13858	1271	2	the	the	DET
cblr-13858	1271	3	meaning	meaning	NOUN
cblr-13858	1271	4	of	of	ADP
cblr-13858	1271	5	the	the	DET
cblr-13858	1271	6	investment	investment	NOUN
cblr-13858	1271	7	advisers	adviser	NOUN
cblr-13858	1271	8	act	act	VERB
cblr-13858	1271	9	of	of	ADP
cblr-13858	1271	10	1940	1940	NUM
cblr-13858	1271	11	.	.	PUNCT
cblr-13858	1272	1	unfortunately	unfortunately	ADV
cblr-13858	1272	2	,	,	PUNCT
cblr-13858	1272	3	the	the	DET
cblr-13858	1272	4	definition	definition	NOUN
cblr-13858	1272	5	of	of	ADP
cblr-13858	1272	6	"	"	PUNCT
cblr-13858	1272	7	investment	investment	NOUN
cblr-13858	1272	8	adviser	adviser	NOUN
cblr-13858	1272	9	"	"	PUNCT
cblr-13858	1272	10	in	in	ADP
cblr-13858	1272	11	this	this	DET
cblr-13858	1272	12	context	context	NOUN
cblr-13858	1272	13	is	be	AUX
cblr-13858	1272	14	as	as	ADV
cblr-13858	1272	15	unclear	unclear	ADJ
cblr-13858	1272	16	as	as	ADP
cblr-13858	1272	17	the	the	DET
cblr-13858	1272	18	definition	definition	NOUN
cblr-13858	1272	19	of	of	ADP
cblr-13858	1272	20	"	"	PUNCT
cblr-13858	1272	21	broker"-if	broker"-if	PROPN
cblr-13858	1272	22	anything	anything	PRON
cblr-13858	1272	23	,	,	PUNCT
cblr-13858	1272	24	there	there	PRON
cblr-13858	1272	25	is	be	VERB
cblr-13858	1272	26	less	less	ADJ
cblr-13858	1272	27	guidance	guidance	NOUN
cblr-13858	1272	28	available	available	ADJ
cblr-13858	1272	29	on	on	ADP
cblr-13858	1272	30	the	the	DET
cblr-13858	1272	31	investmentadviser	investmentadviser	ADJ
cblr-13858	1272	32	question	question	NOUN
cblr-13858	1272	33	.	.	PUNCT
cblr-13858	1273	1	two	two	NUM
cblr-13858	1273	2	issues	issue	NOUN
cblr-13858	1273	3	must	must	AUX
cblr-13858	1273	4	be	be	AUX
cblr-13858	1273	5	addressed	address	VERB
cblr-13858	1273	6	.	.	PUNCT
cblr-13858	1274	1	first	first	ADV
cblr-13858	1274	2	,	,	PUNCT
cblr-13858	1274	3	do	do	AUX
cblr-13858	1274	4	crowdfunding	crowdfunding	NOUN
cblr-13858	1274	5	sites	site	NOUN
cblr-13858	1274	6	fall	fall	VERB
cblr-13858	1274	7	within	within	ADP
cblr-13858	1274	8	the	the	DET
cblr-13858	1274	9	general	general	ADJ
cblr-13858	1274	10	definition	definition	NOUN
cblr-13858	1274	11	of	of	ADP
cblr-13858	1274	12	"	"	PUNCT
cblr-13858	1274	13	investment	investment	NOUN
cblr-13858	1274	14	adviser	adviser	NOUN
cblr-13858	1274	15	"	"	PUNCT
cblr-13858	1274	16	?	?	PUNCT
cblr-13858	1275	1	second	second	ADJ
cblr-13858	1275	2	,	,	PUNCT
cblr-13858	1275	3	if	if	SCONJ
cblr-13858	1275	4	so	so	ADV
cblr-13858	1275	5	,	,	PUNCT
cblr-13858	1275	6	do	do	AUX
cblr-13858	1275	7	they	they	PRON
cblr-13858	1275	8	qualify	qualify	VERB
cblr-13858	1275	9	for	for	ADP
cblr-13858	1275	10	the	the	DET
cblr-13858	1275	11	"	"	PUNCT
cblr-13858	1275	12	publisher	publisher	NOUN
cblr-13858	1275	13	"	"	PUNCT
cblr-13858	1275	14	exception	exception	NOUN
cblr-13858	1275	15	in	in	ADP
cblr-13858	1275	16	that	that	DET
cblr-13858	1275	17	definition	definition	NOUN
cblr-13858	1275	18	?	?	PUNCT
cblr-13858	1276	1	1	1	X
cblr-13858	1276	2	.	.	PUNCT
cblr-13858	1276	3	the	the	DET
cblr-13858	1276	4	general	general	ADJ
cblr-13858	1276	5	definition	definition	NOUN
cblr-13858	1276	6	of	of	ADP
cblr-13858	1276	7	investment	investment	NOUN
cblr-13858	1276	8	adviser	adviser	NOUN
cblr-13858	1276	9	the	the	DET
cblr-13858	1276	10	basic	basic	ADJ
cblr-13858	1276	11	definition	definition	NOUN
cblr-13858	1276	12	of	of	ADP
cblr-13858	1276	13	investment	investment	NOUN
cblr-13858	1276	14	adviser	adviser	NOUN
cblr-13858	1276	15	,	,	PUNCT
cblr-13858	1276	16	in	in	ADP
cblr-13858	1276	17	section	section	NOUN
cblr-13858	1276	18	202(a)(11	202(a)(11	NUM
cblr-13858	1276	19	)	)	PUNCT
cblr-13858	1276	20	of	of	ADP
cblr-13858	1276	21	the	the	DET
cblr-13858	1276	22	investment	investment	NOUN
cblr-13858	1276	23	advisers	adviser	NOUN
cblr-13858	1276	24	act	act	VERB
cblr-13858	1276	25	,	,	PUNCT
cblr-13858	1276	26	"	"	PUNCT
cblr-13858	1276	27	has	have	VERB
cblr-13858	1276	28	two	two	NUM
cblr-13858	1276	29	parts	part	NOUN
cblr-13858	1276	30	,	,	PUNCT
cblr-13858	1276	31	either	either	CCONJ
cblr-13858	1276	32	of	of	ADP
cblr-13858	1276	33	which	which	PRON
cblr-13858	1276	34	suffices	suffice	VERB
cblr-13858	1276	35	to	to	PART
cblr-13858	1276	36	make	make	VERB
cblr-13858	1276	37	one	one	NUM
cblr-13858	1276	38	an	an	DET
cblr-13858	1276	39	investment	investment	NOUN
cblr-13858	1276	40	adviser	adviser	NOUN
cblr-13858	1276	41	.	.	PUNCT
cblr-13858	1277	1	first	first	ADV
cblr-13858	1277	2	,	,	PUNCT
cblr-13858	1277	3	a	a	DET
cblr-13858	1277	4	person	person	NOUN
cblr-13858	1277	5	is	be	AUX
cblr-13858	1277	6	an	an	DET
cblr-13858	1277	7	investment	investment	NOUN
cblr-13858	1277	8	adviser	adviser	NOUN
cblr-13858	1277	9	if	if	SCONJ
cblr-13858	1277	10	she	she	PRON
cblr-13858	1277	11	,	,	PUNCT
cblr-13858	1277	12	"	"	PUNCT
cblr-13858	1277	13	for	for	ADP
cblr-13858	1277	14	compensation	compensation	NOUN
cblr-13858	1277	15	,	,	PUNCT
cblr-13858	1277	16	engages	engage	VERB
cblr-13858	1277	17	in	in	ADP
cblr-13858	1277	18	the	the	DET
cblr-13858	1277	19	business	business	NOUN
cblr-13858	1277	20	of	of	ADP
cblr-13858	1277	21	advising	advise	VERB
cblr-13858	1277	22	others	other	NOUN
cblr-13858	1277	23	,	,	PUNCT
cblr-13858	1277	24	either	either	CCONJ
cblr-13858	1277	25	directly	directly	ADV
cblr-13858	1277	26	or	or	CCONJ
cblr-13858	1277	27	through	through	ADP
cblr-13858	1277	28	publications	publication	NOUN
cblr-13858	1277	29	or	or	CCONJ
cblr-13858	1277	30	writings	writing	NOUN
cblr-13858	1277	31	,	,	PUNCT
cblr-13858	1277	32	as	as	ADP
cblr-13858	1277	33	to	to	ADP
cblr-13858	1277	34	the	the	DET
cblr-13858	1277	35	value	value	NOUN
cblr-13858	1277	36	of	of	ADP
cblr-13858	1277	37	securities	security	NOUN
cblr-13858	1277	38	or	or	CCONJ
cblr-13858	1277	39	as	as	ADP
cblr-13858	1277	40	to	to	ADP
cblr-13858	1277	41	the	the	DET
cblr-13858	1277	42	advisability	advisability	NOUN
cblr-13858	1277	43	of	of	ADP
cblr-13858	1277	44	investing	invest	VERB
cblr-13858	1277	45	in	in	ADP
cblr-13858	1277	46	,	,	PUNCT
cblr-13858	1277	47	purchasing	purchasing	NOUN
cblr-13858	1277	48	,	,	PUNCT
cblr-13858	1277	49	or	or	CCONJ
cblr-13858	1277	50	selling	sell	VERB
cblr-13858	1277	51	securities	security	NOUN
cblr-13858	1277	52	.	.	PUNCT
cblr-13858	1278	1	"3	"3	NOUN
cblr-13858	1278	2	34	34	NUM
cblr-13858	1278	3	alternatively	alternatively	ADV
cblr-13858	1278	4	,	,	PUNCT
cblr-13858	1278	5	a	a	DET
cblr-13858	1278	6	person	person	NOUN
cblr-13858	1278	7	is	be	AUX
cblr-13858	1278	8	an	an	DET
cblr-13858	1278	9	investment	investment	NOUN
cblr-13858	1278	10	adviser	adviser	NOUN
cblr-13858	1278	11	,	,	PUNCT
cblr-13858	1278	12	if	if	SCONJ
cblr-13858	1278	13	she	she	PRON
cblr-13858	1278	14	,	,	PUNCT
cblr-13858	1278	15	"	"	PUNCT
cblr-13858	1278	16	for	for	ADP
cblr-13858	1278	17	compensation	compensation	NOUN
cblr-13858	1278	18	and	and	CCONJ
cblr-13858	1278	19	as	as	ADP
cblr-13858	1278	20	part	part	NOUN
cblr-13858	1278	21	of	of	ADP
cblr-13858	1278	22	a	a	DET
cblr-13858	1278	23	regular	regular	ADJ
cblr-13858	1278	24	business	business	NOUN
cblr-13858	1278	25	,	,	PUNCT
cblr-13858	1278	26	issues	issue	NOUN
cblr-13858	1278	27	or	or	CCONJ
cblr-13858	1278	28	promulgates	promulgate	VERB
cblr-13858	1278	29	analyses	analysis	NOUN
cblr-13858	1278	30	or	or	CCONJ
cblr-13858	1278	31	reports	report	NOUN
cblr-13858	1278	32	concerning	concern	VERB
cblr-13858	1278	33	securities	security	NOUN
cblr-13858	1278	34	.	.	PUNCT
cblr-13858	1279	1	"3	"3	NOUN
cblr-13858	1279	2	under	under	ADP
cblr-13858	1279	3	either	either	DET
cblr-13858	1279	4	part	part	NOUN
cblr-13858	1279	5	of	of	ADP
cblr-13858	1279	6	the	the	DET
cblr-13858	1279	7	definition	definition	NOUN
cblr-13858	1279	8	,	,	PUNCT
cblr-13858	1279	9	three	three	NUM
cblr-13858	1279	10	basic	basic	ADJ
cblr-13858	1279	11	requirements	requirement	NOUN
cblr-13858	1279	12	must	must	AUX
cblr-13858	1279	13	be	be	AUX
cblr-13858	1279	14	met	meet	VERB
cblr-13858	1279	15	:	:	PUNCT
cblr-13858	1279	16	(	(	PUNCT
cblr-13858	1279	17	1	1	X
cblr-13858	1279	18	)	)	PUNCT
cblr-13858	1279	19	the	the	DET
cblr-13858	1279	20	person	person	NOUN
cblr-13858	1279	21	must	must	AUX
cblr-13858	1279	22	be	be	AUX
cblr-13858	1279	23	providing	provide	VERB
cblr-13858	1279	24	advice	advice	NOUN
cblr-13858	1279	25	or	or	CCONJ
cblr-13858	1279	26	issuing	issue	VERB
cblr-13858	1279	27	reports	report	NOUN
cblr-13858	1279	28	or	or	CCONJ
cblr-13858	1279	29	analyses	analysis	NOUN
cblr-13858	1279	30	concerning	concern	VERB
cblr-13858	1279	31	securities	security	NOUN
cblr-13858	1279	32	;	;	PUNCT
cblr-13858	1279	33	(	(	PUNCT
cblr-13858	1279	34	2	2	X
cblr-13858	1279	35	)	)	PUNCT
cblr-13858	1279	36	the	the	DET
cblr-13858	1279	37	person	person	NOUN
cblr-13858	1279	38	must	must	AUX
cblr-13858	1279	39	be	be	AUX
cblr-13858	1279	40	in	in	ADP
cblr-13858	1279	41	the	the	DET
cblr-13858	1279	42	business	business	NOUN
cblr-13858	1279	43	of	of	ADP
cblr-13858	1279	44	doing	do	VERB
cblr-13858	1279	45	so	so	ADV
cblr-13858	1279	46	;	;	PUNCT
cblr-13858	1279	47	and	and	CCONJ
cblr-13858	1279	48	..	..	PUNCT
cblr-13858	1279	49	investment	investment	NOUN
cblr-13858	1279	50	advisers	adviser	NOUN
cblr-13858	1279	51	act	act	VERB
cblr-13858	1279	52	of	of	ADP
cblr-13858	1279	53	1940	1940	NUM
cblr-13858	1279	54	§	§	PROPN
cblr-13858	1279	55	202(a)(11	202(a)(11	NUM
cblr-13858	1279	56	)	)	PUNCT
cblr-13858	1279	57	,	,	PUNCT
cblr-13858	1279	58	15	15	NUM
cblr-13858	1279	59	u.s.c	u.s.c	ADJ
cblr-13858	1279	60	.	.	PUNCT
cblr-13858	1280	1	§	§	PROPN
cblr-13858	1280	2	80b2(a)(11	80b2(a)(11	PROPN
cblr-13858	1280	3	)	)	PUNCT
cblr-13858	1280	4	(	(	PUNCT
cblr-13858	1280	5	2006	2006	NUM
cblr-13858	1280	6	)	)	PUNCT
cblr-13858	1280	7	.	.	PUNCT
cblr-13858	1281	1	3	3	NUM
cblr-13858	1282	1	i	i	PRON
cblr-13858	1282	2	d.	d.	PROPN
cblr-13858	1282	3	33	33	NUM
cblr-13858	1282	4	i	i	PROPN
cblr-13858	1282	5	d.	d.	PROPN
cblr-13858	1282	6	67no	67no	PROPN
cblr-13858	1282	7	.	.	PUNCT
cblr-13858	1283	1	1:1	1:1	NUM
cblr-13858	1283	2	]	]	X
cblr-13858	1283	3	cro	cro	X
cblr-13858	1283	4	wdfunding	wdfunding	NOUN
cblr-13858	1283	5	and	and	CCONJ
cblr-13858	1283	6	securities	security	NOUN
cblr-13858	1283	7	la	la	PROPN
cblr-13858	1283	8	ws	ws	PROPN
cblr-13858	1283	9	(	(	PUNCT
cblr-13858	1283	10	3	3	X
cblr-13858	1283	11	)	)	PUNCT
cblr-13858	1283	12	the	the	DET
cblr-13858	1283	13	person	person	NOUN
cblr-13858	1283	14	must	must	AUX
cblr-13858	1283	15	be	be	AUX
cblr-13858	1283	16	doing	do	VERB
cblr-13858	1283	17	so	so	ADV
cblr-13858	1283	18	for	for	ADP
cblr-13858	1283	19	compensation.336	compensation.336	NOUN
cblr-13858	1283	20	though	though	SCONJ
cblr-13858	1283	21	crowdfunding	crowdfunding	NOUN
cblr-13858	1283	22	sites	site	NOUN
cblr-13858	1283	23	clearly	clearly	ADV
cblr-13858	1283	24	meet	meet	VERB
cblr-13858	1283	25	the	the	DET
cblr-13858	1283	26	last	last	ADJ
cblr-13858	1283	27	two	two	NUM
cblr-13858	1283	28	requirements	requirement	NOUN
cblr-13858	1283	29	,	,	PUNCT
cblr-13858	1283	30	it	it	PRON
cblr-13858	1283	31	is	be	AUX
cblr-13858	1283	32	unclear	unclear	ADJ
cblr-13858	1283	33	whether	whether	SCONJ
cblr-13858	1283	34	they	they	PRON
cblr-13858	1283	35	satisfy	satisfy	VERB
cblr-13858	1283	36	the	the	DET
cblr-13858	1283	37	first	first	ADJ
cblr-13858	1283	38	.	.	PUNCT
cblr-13858	1284	1	2	2	X
cblr-13858	1284	2	.	.	X
cblr-13858	1284	3	in	in	ADP
cblr-13858	1284	4	the	the	DET
cblr-13858	1284	5	business	business	NOUN
cblr-13858	1284	6	the	the	DET
cblr-13858	1284	7	business	business	NOUN
cblr-13858	1284	8	requirement	requirement	NOUN
cblr-13858	1284	9	is	be	AUX
cblr-13858	1284	10	phrased	phrase	VERB
cblr-13858	1284	11	slightly	slightly	ADV
cblr-13858	1284	12	differently	differently	ADV
cblr-13858	1284	13	in	in	ADP
cblr-13858	1284	14	the	the	DET
cblr-13858	1284	15	two	two	NUM
cblr-13858	1284	16	parts	part	NOUN
cblr-13858	1284	17	of	of	ADP
cblr-13858	1284	18	section	section	NOUN
cblr-13858	1284	19	202(a)(11	202(a)(11	NUM
cblr-13858	1284	20	)	)	PUNCT
cblr-13858	1284	21	.	.	PUNCT
cblr-13858	1285	1	the	the	DET
cblr-13858	1285	2	first	first	ADJ
cblr-13858	1285	3	alternative	alternative	NOUN
cblr-13858	1285	4	uses	use	VERB
cblr-13858	1285	5	the	the	DET
cblr-13858	1285	6	phrase	phrase	NOUN
cblr-13858	1285	7	"	"	PUNCT
cblr-13858	1285	8	engages	engage	VERB
cblr-13858	1285	9	in	in	ADP
cblr-13858	1285	10	the	the	DET
cblr-13858	1285	11	business	business	NOUN
cblr-13858	1285	12	"	"	PUNCT
cblr-13858	1285	13	and	and	CCONJ
cblr-13858	1285	14	the	the	DET
cblr-13858	1285	15	second	second	ADJ
cblr-13858	1285	16	alternative	alternative	NOUN
cblr-13858	1285	17	requires	require	VERB
cblr-13858	1285	18	that	that	SCONJ
cblr-13858	1285	19	the	the	DET
cblr-13858	1285	20	analysis	analysis	NOUN
cblr-13858	1285	21	be	be	AUX
cblr-13858	1285	22	given	give	VERB
cblr-13858	1285	23	"	"	PUNCT
cblr-13858	1285	24	as	as	ADP
cblr-13858	1285	25	part	part	NOUN
cblr-13858	1285	26	of	of	ADP
cblr-13858	1285	27	a	a	DET
cblr-13858	1285	28	regular	regular	ADJ
cblr-13858	1285	29	business	business	NOUN
cblr-13858	1285	30	,	,	PUNCT
cblr-13858	1285	31	"	"	PUNCT
cblr-13858	1285	32	33	33	NUM
cblr-13858	1285	33	but	but	CCONJ
cblr-13858	1285	34	the	the	DET
cblr-13858	1285	35	sec	sec	PROPN
cblr-13858	1285	36	interprets	interpret	VERB
cblr-13858	1285	37	the	the	DET
cblr-13858	1285	38	business	business	NOUN
cblr-13858	1285	39	element	element	NOUN
cblr-13858	1285	40	of	of	ADP
cblr-13858	1285	41	both	both	DET
cblr-13858	1285	42	parts	part	NOUN
cblr-13858	1286	1	identically.3	identically.3	PROPN
cblr-13858	1286	2	some	some	DET
cblr-13858	1286	3	regularity	regularity	NOUN
cblr-13858	1286	4	is	be	AUX
cblr-13858	1286	5	required	require	VERB
cblr-13858	1286	6	-	-	PUNCT
cblr-13858	1286	7	isolated	isolate	VERB
cblr-13858	1286	8	instances	instance	NOUN
cblr-13858	1286	9	of	of	ADP
cblr-13858	1286	10	investment	investment	NOUN
cblr-13858	1286	11	advice	advice	NOUN
cblr-13858	1286	12	do	do	AUX
cblr-13858	1286	13	not	not	PART
cblr-13858	1286	14	make	make	VERB
cblr-13858	1286	15	one	one	PRON
cblr-13858	1286	16	an	an	DET
cblr-13858	1286	17	investment	investment	NOUN
cblr-13858	1286	18	adviser.3	adviser.3	VERB
cblr-13858	1286	19	but	but	CCONJ
cblr-13858	1286	20	investment	investment	NOUN
cblr-13858	1286	21	advice	advice	NOUN
cblr-13858	1286	22	does	do	AUX
cblr-13858	1286	23	not	not	PART
cblr-13858	1286	24	have	have	VERB
cblr-13858	1286	25	to	to	PART
cblr-13858	1286	26	be	be	AUX
cblr-13858	1286	27	the	the	DET
cblr-13858	1286	28	person	person	NOUN
cblr-13858	1286	29	's	's	PART
cblr-13858	1286	30	principal	principal	ADJ
cblr-13858	1286	31	business	business	NOUN
cblr-13858	1286	32	,	,	PUNCT
cblr-13858	1286	33	as	as	ADV
cblr-13858	1286	34	long	long	ADV
cblr-13858	1286	35	as	as	SCONJ
cblr-13858	1286	36	the	the	DET
cblr-13858	1286	37	advice	advice	NOUN
cblr-13858	1286	38	is	be	AUX
cblr-13858	1286	39	given	give	VERB
cblr-13858	1286	40	on	on	ADP
cblr-13858	1286	41	a	a	DET
cblr-13858	1286	42	regular	regular	ADJ
cblr-13858	1286	43	basis	basis	NOUN
cblr-13858	1286	44	.	.	PUNCT
cblr-13858	1287	1	34	34	NUM
cblr-13858	1287	2	o	o	NOUN
cblr-13858	1287	3	crowdfunding	crowdfunding	NOUN
cblr-13858	1287	4	sites	site	NOUN
cblr-13858	1287	5	would	would	AUX
cblr-13858	1287	6	undoubtedly	undoubtedly	ADV
cblr-13858	1287	7	meet	meet	VERB
cblr-13858	1287	8	this	this	DET
cblr-13858	1287	9	regularity	regularity	NOUN
cblr-13858	1287	10	requirement	requirement	NOUN
cblr-13858	1287	11	.	.	PUNCT
cblr-13858	1288	1	if	if	SCONJ
cblr-13858	1288	2	their	their	PRON
cblr-13858	1288	3	services	service	NOUN
cblr-13858	1288	4	constitute	constitute	VERB
cblr-13858	1288	5	securities	security	NOUN
cblr-13858	1288	6	advice	advice	NOUN
cblr-13858	1288	7	or	or	CCONJ
cblr-13858	1288	8	analysis	analysis	NOUN
cblr-13858	1288	9	,	,	PUNCT
cblr-13858	1288	10	they	they	PRON
cblr-13858	1288	11	are	be	AUX
cblr-13858	1288	12	providing	provide	VERB
cblr-13858	1288	13	that	that	DET
cblr-13858	1288	14	service	service	NOUN
cblr-13858	1288	15	on	on	ADP
cblr-13858	1288	16	an	an	DET
cblr-13858	1288	17	ongoing	ongoing	ADJ
cblr-13858	1288	18	,	,	PUNCT
cblr-13858	1288	19	regular	regular	ADJ
cblr-13858	1288	20	basis	basis	NOUN
cblr-13858	1288	21	.	.	PUNCT
cblr-13858	1289	1	as	as	ADP
cblr-13858	1289	2	with	with	ADP
cblr-13858	1289	3	broker	broker	NOUN
cblr-13858	1289	4	status	status	NOUN
cblr-13858	1289	5	,	,	PUNCT
cblr-13858	1289	6	transaction	transaction	NOUN
cblr-13858	1289	7	-	-	PUNCT
cblr-13858	1289	8	based	base	VERB
cblr-13858	1289	9	compensation	compensation	NOUN
cblr-13858	1289	10	is	be	AUX
cblr-13858	1289	11	important	important	ADJ
cblr-13858	1289	12	.	.	PUNCT
cblr-13858	1290	1	the	the	DET
cblr-13858	1290	2	sec	sec	PROPN
cblr-13858	1290	3	has	have	AUX
cblr-13858	1290	4	indicated	indicate	VERB
cblr-13858	1290	5	that	that	SCONJ
cblr-13858	1290	6	a	a	DET
cblr-13858	1290	7	person	person	NOUN
cblr-13858	1290	8	meets	meet	VERB
cblr-13858	1290	9	the	the	DET
cblr-13858	1290	10	"	"	PUNCT
cblr-13858	1290	11	business	business	NOUN
cblr-13858	1290	12	"	"	PUNCT
cblr-13858	1290	13	requirement	requirement	NOUN
cblr-13858	1290	14	if	if	SCONJ
cblr-13858	1290	15	she	she	PRON
cblr-13858	1290	16	"	"	PUNCT
cblr-13858	1290	17	receives	receive	VERB
cblr-13858	1290	18	transaction	transaction	NOUN
cblr-13858	1290	19	-	-	PUNCT
cblr-13858	1290	20	based	base	VERB
cblr-13858	1290	21	compensation	compensation	NOUN
cblr-13858	1290	22	if	if	SCONJ
cblr-13858	1290	23	the	the	DET
cblr-13858	1290	24	client	client	NOUN
cblr-13858	1290	25	implements	implement	VERB
cblr-13858	1290	26	the	the	DET
cblr-13858	1290	27	investment	investment	NOUN
cblr-13858	1290	28	3	3	NUM
cblr-13858	1290	29	"	"	PUNCT
cblr-13858	1290	30	applicability	applicability	NOUN
cblr-13858	1290	31	of	of	ADP
cblr-13858	1290	32	the	the	DET
cblr-13858	1290	33	investment	investment	NOUN
cblr-13858	1290	34	advisers	adviser	NOUN
cblr-13858	1290	35	act	act	VERB
cblr-13858	1290	36	to	to	ADP
cblr-13858	1290	37	financial	financial	ADJ
cblr-13858	1290	38	planners	planner	NOUN
cblr-13858	1290	39	,	,	PUNCT
cblr-13858	1290	40	pension	pension	NOUN
cblr-13858	1290	41	consultants	consultant	NOUN
cblr-13858	1290	42	,	,	PUNCT
cblr-13858	1290	43	and	and	CCONJ
cblr-13858	1290	44	other	other	ADJ
cblr-13858	1290	45	persons	person	NOUN
cblr-13858	1290	46	who	who	PRON
cblr-13858	1290	47	provide	provide	VERB
cblr-13858	1290	48	investment	investment	NOUN
cblr-13858	1290	49	advisory	advisory	ADJ
cblr-13858	1290	50	services	service	NOUN
cblr-13858	1290	51	as	as	ADP
cblr-13858	1290	52	a	a	DET
cblr-13858	1290	53	component	component	NOUN
cblr-13858	1290	54	of	of	ADP
cblr-13858	1290	55	other	other	ADJ
cblr-13858	1290	56	financial	financial	ADJ
cblr-13858	1290	57	services	service	NOUN
cblr-13858	1290	58	,	,	PUNCT
cblr-13858	1290	59	52	52	NUM
cblr-13858	1290	60	fed	feed	VERB
cblr-13858	1290	61	.	.	PUNCT
cblr-13858	1291	1	reg	reg	PROPN
cblr-13858	1291	2	.	.	PUNCT
cblr-13858	1292	1	38400	38400	NUM
cblr-13858	1292	2	-	-	SYM
cblr-13858	1292	3	01	01	NUM
cblr-13858	1292	4	,	,	PUNCT
cblr-13858	1292	5	38402	38402	NUM
cblr-13858	1292	6	(	(	PUNCT
cblr-13858	1292	7	oct	oct	PROPN
cblr-13858	1292	8	.	.	PROPN
cblr-13858	1292	9	16	16	NUM
cblr-13858	1292	10	,	,	PUNCT
cblr-13858	1292	11	1987	1987	NUM
cblr-13858	1292	12	)	)	PUNCT
cblr-13858	1292	13	(	(	PUNCT
cblr-13858	1292	14	to	to	PART
cblr-13858	1292	15	be	be	AUX
cblr-13858	1292	16	codified	codify	VERB
cblr-13858	1292	17	in	in	ADP
cblr-13858	1292	18	17	17	NUM
cblr-13858	1292	19	c.f.r	c.f.r	NOUN
cblr-13858	1292	20	.	.	PUNCT
cblr-13858	1293	1	pt	pt	PROPN
cblr-13858	1293	2	.	.	NOUN
cblr-13858	1293	3	276	276	NUM
cblr-13858	1293	4	)	)	PUNCT
cblr-13858	1294	1	[	[	X
cblr-13858	1294	2	hereinafter	hereinafter	NOUN
cblr-13858	1294	3	investment	investment	NOUN
cblr-13858	1294	4	advisers	adviser	NOUN
cblr-13858	1294	5	release	release	VERB
cblr-13858	1294	6	]	]	PUNCT
cblr-13858	1294	7	.	.	PUNCT
cblr-13858	1295	1	see	see	AUX
cblr-13858	1295	2	also	also	ADV
cblr-13858	1295	3	united	united	PROPN
cblr-13858	1295	4	states	states	PROPN
cblr-13858	1295	5	v.	v.	PROPN
cblr-13858	1295	6	elliott	elliott	PROPN
cblr-13858	1295	7	,	,	PUNCT
cblr-13858	1295	8	62	62	NUM
cblr-13858	1295	9	f.3d	f.3d	NUM
cblr-13858	1295	10	1304	1304	NUM
cblr-13858	1295	11	,	,	PUNCT
cblr-13858	1295	12	1309	1309	NUM
cblr-13858	1295	13	-	-	SYM
cblr-13858	1295	14	10	10	NUM
cblr-13858	1295	15	(	(	PUNCT
cblr-13858	1295	16	11th	11th	ADJ
cblr-13858	1295	17	cir	cir	NOUN
cblr-13858	1295	18	.	.	PROPN
cblr-13858	1295	19	1995	1995	NUM
cblr-13858	1295	20	)	)	PUNCT
cblr-13858	1295	21	.	.	PUNCT
cblr-13858	1296	1	3	3	NUM
cblr-13858	1296	2	15	15	NUM
cblr-13858	1296	3	u.s.c	u.s.c	NOUN
cblr-13858	1296	4	.	.	PUNCT
cblr-13858	1297	1	§	§	PROPN
cblr-13858	1297	2	80b-2(a)(11	80b-2(a)(11	NUM
cblr-13858	1297	3	)	)	PUNCT
cblr-13858	1297	4	.	.	PUNCT
cblr-13858	1298	1	338	338	NUM
cblr-13858	1298	2	investment	investment	NOUN
cblr-13858	1298	3	advisers	adviser	NOUN
cblr-13858	1298	4	release	release	VERB
cblr-13858	1298	5	,	,	PUNCT
cblr-13858	1298	6	supra	supra	PROPN
cblr-13858	1298	7	note	note	NOUN
cblr-13858	1298	8	336	336	NUM
cblr-13858	1298	9	,	,	PUNCT
cblr-13858	1298	10	at	at	ADP
cblr-13858	1298	11	38402	38402	NUM
cblr-13858	1298	12	.	.	PUNCT
cblr-13858	1299	1	3	3	NUM
cblr-13858	1300	1	i	i	PRON
cblr-13858	1300	2	d.	d.	PROPN
cblr-13858	1300	3	see	see	VERB
cblr-13858	1300	4	also	also	ADV
cblr-13858	1300	5	zinn	zinn	PROPN
cblr-13858	1300	6	v.	v.	ADP
cblr-13858	1300	7	parrish	parrish	PROPN
cblr-13858	1300	8	,	,	PUNCT
cblr-13858	1300	9	644	644	NUM
cblr-13858	1300	10	f.2d	f.2d	SYM
cblr-13858	1300	11	360	360	NUM
cblr-13858	1300	12	(	(	PUNCT
cblr-13858	1300	13	7th	7th	ADJ
cblr-13858	1300	14	cir	cir	NOUN
cblr-13858	1300	15	.	.	PUNCT
cblr-13858	1300	16	1981	1981	NUM
cblr-13858	1300	17	)	)	PUNCT
cblr-13858	1300	18	;	;	PUNCT
cblr-13858	1300	19	hazen	hazen	PROPN
cblr-13858	1300	20	,	,	PUNCT
cblr-13858	1300	21	supra	supra	PROPN
cblr-13858	1300	22	note	note	PROPN
cblr-13858	1300	23	42	42	NUM
cblr-13858	1300	24	,	,	PUNCT
cblr-13858	1300	25	at	at	ADP
cblr-13858	1300	26	29	29	NUM
cblr-13858	1300	27	.	.	PUNCT
cblr-13858	1300	28	340	340	NUM
cblr-13858	1300	29	investment	investment	NOUN
cblr-13858	1300	30	advisers	adviser	NOUN
cblr-13858	1300	31	release	release	VERB
cblr-13858	1300	32	,	,	PUNCT
cblr-13858	1301	1	supra	supra	PROPN
cblr-13858	1301	2	note	note	NOUN
cblr-13858	1301	3	336	336	NUM
cblr-13858	1301	4	,	,	PUNCT
cblr-13858	1301	5	at	at	ADP
cblr-13858	1301	6	38402	38402	NUM
cblr-13858	1301	7	;	;	PUNCT
cblr-13858	1301	8	hazen	hazen	PROPN
cblr-13858	1301	9	,	,	PUNCT
cblr-13858	1301	10	supra	supra	PROPN
cblr-13858	1301	11	note	note	PROPN
cblr-13858	1301	12	42	42	NUM
cblr-13858	1301	13	,	,	PUNCT
cblr-13858	1301	14	at	at	ADP
cblr-13858	1301	15	27	27	NUM
cblr-13858	1301	16	;	;	PUNCT
cblr-13858	1301	17	thomas	thomas	PROPN
cblr-13858	1301	18	p.	p.	PROPN
cblr-13858	1301	19	lemke	lemke	PROPN
cblr-13858	1301	20	&	&	CCONJ
cblr-13858	1301	21	gerald	gerald	PROPN
cblr-13858	1301	22	t.	t.	PROPN
cblr-13858	1301	23	lins	lins	PROPN
cblr-13858	1301	24	,	,	PUNCT
cblr-13858	1301	25	regulation	regulation	NOUN
cblr-13858	1301	26	of	of	ADP
cblr-13858	1301	27	investment	investment	NOUN
cblr-13858	1301	28	advisors	advisor	NOUN
cblr-13858	1301	29	5	5	NUM
cblr-13858	1301	30	(	(	PUNCT
cblr-13858	1301	31	2011	2011	NUM
cblr-13858	1301	32	)	)	PUNCT
cblr-13858	1301	33	.	.	PUNCT
cblr-13858	1302	1	68	68	NUM
cblr-13858	1302	2	col	col	PROPN
cblr-13858	1302	3	umbia	umbia	PROPN
cblr-13858	1302	4	b	b	PROPN
cblr-13858	1302	5	usiness	usiness	PROPN
cblr-13858	1302	6	la	la	PROPN
cblr-13858	1302	7	wre	wre	PROPN
cblr-13858	1302	8	vie	vie	PROPN
cblr-13858	1302	9	w	w	PROPN
cblr-13858	1303	1	[	[	X
cblr-13858	1303	2	vol	vol	NOUN
cblr-13858	1303	3	.	.	PUNCT
cblr-13858	1303	4	2012	2012	NUM
cblr-13858	1303	5	cr0	cr0	ADJ
cblr-13858	1303	6	wdfunding	wdfunding	NOUN
cblr-13858	1303	7	and	and	CCONJ
cblr-13858	1303	8	securities	security	NOUN
cblr-13858	1303	9	laws	law	NOUN
cblr-13858	1303	10	advice	advice	NOUN
cblr-13858	1303	11	.	.	PUNCT
cblr-13858	1304	1	"341	"341	PROPN
cblr-13858	1304	2	thus	thus	ADV
cblr-13858	1304	3	,	,	PUNCT
cblr-13858	1304	4	it	it	PRON
cblr-13858	1304	5	is	be	AUX
cblr-13858	1304	6	reasonably	reasonably	ADV
cblr-13858	1304	7	clear	clear	ADJ
cblr-13858	1304	8	that	that	SCONJ
cblr-13858	1304	9	for	for	ADP
cblr-13858	1304	10	-	-	PUNCT
cblr-13858	1304	11	profit	profit	NOUN
cblr-13858	1304	12	crowdfunding	crowdfunding	NOUN
cblr-13858	1304	13	sites	site	NOUN
cblr-13858	1304	14	would	would	AUX
cblr-13858	1304	15	meet	meet	VERB
cblr-13858	1304	16	the	the	DET
cblr-13858	1304	17	"	"	PUNCT
cblr-13858	1304	18	business	business	NOUN
cblr-13858	1304	19	"	"	PUNCT
cblr-13858	1304	20	requirement	requirement	NOUN
cblr-13858	1304	21	.	.	PUNCT
cblr-13858	1305	1	3	3	X
cblr-13858	1305	2	.	.	X
cblr-13858	1305	3	for	for	ADP
cblr-13858	1305	4	compensation	compensation	NOUN
cblr-13858	1305	5	for	for	ADP
cblr-13858	1305	6	one	one	NUM
cblr-13858	1305	7	to	to	PART
cblr-13858	1305	8	be	be	AUX
cblr-13858	1305	9	an	an	DET
cblr-13858	1305	10	investment	investment	NOUN
cblr-13858	1305	11	adviser	adviser	NOUN
cblr-13858	1305	12	,	,	PUNCT
cblr-13858	1305	13	analysis	analysis	NOUN
cblr-13858	1305	14	or	or	CCONJ
cblr-13858	1305	15	advice	advice	NOUN
cblr-13858	1305	16	must	must	AUX
cblr-13858	1305	17	be	be	AUX
cblr-13858	1305	18	provided	provide	VERB
cblr-13858	1305	19	for	for	ADP
cblr-13858	1305	20	compensation.34	compensation.34	NOUN
cblr-13858	1305	21	2	2	NUM
cblr-13858	1305	22	any	any	DET
cblr-13858	1305	23	economic	economic	ADJ
cblr-13858	1305	24	benefit	benefit	NOUN
cblr-13858	1305	25	is	be	AUX
cblr-13858	1305	26	sufficient	sufficient	ADJ
cblr-13858	1305	27	to	to	PART
cblr-13858	1305	28	meet	meet	VERB
cblr-13858	1305	29	this	this	DET
cblr-13858	1305	30	requirement	requirement	NOUN
cblr-13858	1305	31	;	;	PUNCT
cblr-13858	1305	32	the	the	DET
cblr-13858	1305	33	adviser	adviser	NOUN
cblr-13858	1305	34	does	do	AUX
cblr-13858	1305	35	not	not	PART
cblr-13858	1305	36	have	have	VERB
cblr-13858	1305	37	to	to	PART
cblr-13858	1305	38	charge	charge	VERB
cblr-13858	1305	39	a	a	DET
cblr-13858	1305	40	separate	separate	ADJ
cblr-13858	1305	41	fee	fee	NOUN
cblr-13858	1305	42	for	for	ADP
cblr-13858	1305	43	the	the	DET
cblr-13858	1305	44	advisory	advisory	ADJ
cblr-13858	1305	45	portion	portion	NOUN
cblr-13858	1305	46	of	of	ADP
cblr-13858	1305	47	the	the	DET
cblr-13858	1305	48	services.34	services.34	NOUN
cblr-13858	1305	49	3	3	NUM
cblr-13858	1305	50	most	most	ADV
cblr-13858	1305	51	crowdfunding	crowdfunding	NOUN
cblr-13858	1305	52	sites	site	NOUN
cblr-13858	1305	53	charge	charge	VERB
cblr-13858	1305	54	a	a	DET
cblr-13858	1305	55	fee	fee	NOUN
cblr-13858	1305	56	of	of	ADP
cblr-13858	1305	57	some	some	DET
cblr-13858	1305	58	kind	kind	NOUN
cblr-13858	1305	59	,	,	PUNCT
cblr-13858	1305	60	usually	usually	ADV
cblr-13858	1305	61	either	either	CCONJ
cblr-13858	1305	62	a	a	DET
cblr-13858	1305	63	flat	flat	ADJ
cblr-13858	1305	64	fee	fee	NOUN
cblr-13858	1305	65	,	,	PUNCT
cblr-13858	1305	66	a	a	DET
cblr-13858	1305	67	percentage	percentage	NOUN
cblr-13858	1305	68	of	of	ADP
cblr-13858	1305	69	the	the	DET
cblr-13858	1305	70	amount	amount	NOUN
cblr-13858	1305	71	raised	raise	VERB
cblr-13858	1305	72	,	,	PUNCT
cblr-13858	1305	73	or	or	CCONJ
cblr-13858	1305	74	interest.344	interest.344	NOUN
cblr-13858	1305	75	this	this	DET
cblr-13858	1305	76	satisfies	satisfy	VERB
cblr-13858	1305	77	the	the	DET
cblr-13858	1305	78	compensation	compensation	NOUN
cblr-13858	1305	79	requirement.34	requirement.34	NOUN
cblr-13858	1305	80	5	5	NUM
cblr-13858	1305	81	4	4	NUM
cblr-13858	1305	82	.	.	PUNCT
cblr-13858	1306	1	advice	advice	NOUN
cblr-13858	1306	2	,	,	PUNCT
cblr-13858	1306	3	analyses	analysis	NOUN
cblr-13858	1306	4	,	,	PUNCT
cblr-13858	1306	5	or	or	CCONJ
cblr-13858	1306	6	reports	report	NOUN
cblr-13858	1306	7	concerning	concern	VERB
cblr-13858	1306	8	securities	security	NOUN
cblr-13858	1306	9	most	most	ADJ
cblr-13858	1306	10	crowdfunding	crowdfunding	NOUN
cblr-13858	1306	11	sites	site	NOUN
cblr-13858	1306	12	are	be	AUX
cblr-13858	1306	13	not	not	PART
cblr-13858	1306	14	offering	offer	VERB
cblr-13858	1306	15	advice	advice	NOUN
cblr-13858	1306	16	"	"	PUNCT
cblr-13858	1306	17	as	as	ADP
cblr-13858	1306	18	to	to	ADP
cblr-13858	1306	19	the	the	DET
cblr-13858	1306	20	value	value	NOUN
cblr-13858	1306	21	of	of	ADP
cblr-13858	1306	22	securities	security	NOUN
cblr-13858	1306	23	or	or	CCONJ
cblr-13858	1306	24	as	as	ADP
cblr-13858	1306	25	to	to	ADP
cblr-13858	1306	26	the	the	DET
cblr-13858	1306	27	advisability	advisability	NOUN
cblr-13858	1306	28	of	of	ADP
cblr-13858	1306	29	investing	invest	VERB
cblr-13858	1306	30	in	in	ADP
cblr-13858	1306	31	,	,	PUNCT
cblr-13858	1306	32	..	..	PUNCT
cblr-13858	1306	33	n	n	CCONJ
cblr-13858	1306	34	according	accord	VERB
cblr-13858	1306	35	to	to	ADP
cblr-13858	1306	36	the	the	DET
cblr-13858	1306	37	sec	sec	PROPN
cblr-13858	1306	38	,	,	PUNCT
cblr-13858	1306	39	a	a	DET
cblr-13858	1306	40	person	person	NOUN
cblr-13858	1306	41	is	be	AUX
cblr-13858	1306	42	in	in	ADP
cblr-13858	1306	43	the	the	DET
cblr-13858	1306	44	business	business	NOUN
cblr-13858	1306	45	if	if	SCONJ
cblr-13858	1306	46	"	"	PUNCT
cblr-13858	1306	47	(	(	PUNCT
cblr-13858	1306	48	i	i	NOUN
cblr-13858	1306	49	)	)	PUNCT
cblr-13858	1307	1	[	[	X
cblr-13858	1307	2	he	he	PRON
cblr-13858	1307	3	]	]	PUNCT
cblr-13858	1307	4	holds	hold	VERB
cblr-13858	1307	5	himself	himself	PRON
cblr-13858	1307	6	out	out	ADP
cblr-13858	1307	7	as	as	ADP
cblr-13858	1307	8	an	an	DET
cblr-13858	1307	9	investment	investment	NOUN
cblr-13858	1307	10	adviser	adviser	NOUN
cblr-13858	1307	11	or	or	CCONJ
cblr-13858	1307	12	as	as	ADP
cblr-13858	1307	13	one	one	NUM
cblr-13858	1307	14	who	who	PRON
cblr-13858	1307	15	provides	provide	VERB
cblr-13858	1307	16	investment	investment	NOUN
cblr-13858	1307	17	advice	advice	NOUN
cblr-13858	1307	18	,	,	PUNCT
cblr-13858	1307	19	(	(	PUNCT
cblr-13858	1307	20	ii	ii	NOUN
cblr-13858	1307	21	)	)	PUNCT
cblr-13858	1307	22	receives	receive	VERB
cblr-13858	1307	23	any	any	DET
cblr-13858	1307	24	separate	separate	ADJ
cblr-13858	1307	25	or	or	CCONJ
cblr-13858	1307	26	additional	additional	ADJ
cblr-13858	1307	27	compensation	compensation	NOUN
cblr-13858	1307	28	that	that	PRON
cblr-13858	1307	29	represents	represent	VERB
cblr-13858	1307	30	a	a	DET
cblr-13858	1307	31	clearly	clearly	ADV
cblr-13858	1307	32	definable	definable	ADJ
cblr-13858	1307	33	charge	charge	NOUN
cblr-13858	1307	34	for	for	ADP
cblr-13858	1307	35	providing	provide	VERB
cblr-13858	1307	36	advice	advice	NOUN
cblr-13858	1307	37	about	about	ADP
cblr-13858	1307	38	securities	security	NOUN
cblr-13858	1307	39	,	,	PUNCT
cblr-13858	1307	40	regardless	regardless	ADV
cblr-13858	1307	41	of	of	ADP
cblr-13858	1307	42	whether	whether	SCONJ
cblr-13858	1307	43	the	the	DET
cblr-13858	1307	44	compensation	compensation	NOUN
cblr-13858	1307	45	is	be	AUX
cblr-13858	1307	46	separate	separate	ADJ
cblr-13858	1307	47	from	from	ADP
cblr-13858	1307	48	or	or	CCONJ
cblr-13858	1307	49	included	include	VERB
cblr-13858	1307	50	within	within	ADP
cblr-13858	1307	51	any	any	DET
cblr-13858	1307	52	overall	overall	ADJ
cblr-13858	1307	53	compensation	compensation	NOUN
cblr-13858	1307	54	,	,	PUNCT
cblr-13858	1307	55	or	or	CCONJ
cblr-13858	1307	56	receives	receive	VERB
cblr-13858	1307	57	transaction	transaction	NOUN
cblr-13858	1307	58	-	-	PUNCT
cblr-13858	1307	59	based	base	VERB
cblr-13858	1307	60	compensation	compensation	NOUN
cblr-13858	1307	61	if	if	SCONJ
cblr-13858	1307	62	the	the	DET
cblr-13858	1307	63	client	client	NOUN
cblr-13858	1307	64	implements	implement	VERB
cblr-13858	1307	65	in	in	ADP
cblr-13858	1307	66	the	the	DET
cblr-13858	1307	67	investment	investment	NOUN
cblr-13858	1307	68	advice	advice	NOUN
cblr-13858	1307	69	,	,	PUNCT
cblr-13858	1307	70	or	or	CCONJ
cblr-13858	1307	71	(	(	PUNCT
cblr-13858	1307	72	iii	iii	NOUN
cblr-13858	1307	73	)	)	PUNCT
cblr-13858	1307	74	on	on	ADP
cblr-13858	1307	75	anything	anything	PRON
cblr-13858	1307	76	other	other	ADJ
cblr-13858	1307	77	than	than	ADP
cblr-13858	1307	78	rare	rare	ADJ
cblr-13858	1307	79	,	,	PUNCT
cblr-13858	1307	80	isolated	isolated	ADJ
cblr-13858	1307	81	and	and	CCONJ
cblr-13858	1307	82	non	non	ADJ
cblr-13858	1307	83	-	-	ADJ
cblr-13858	1307	84	periodic	periodic	ADJ
cblr-13858	1307	85	instances	instance	NOUN
cblr-13858	1307	86	,	,	PUNCT
cblr-13858	1307	87	provides	provide	VERB
cblr-13858	1307	88	specific	specific	ADJ
cblr-13858	1307	89	investment	investment	NOUN
cblr-13858	1307	90	advice	advice	NOUN
cblr-13858	1307	91	.	.	PUNCT
cblr-13858	1307	92	"	"	PUNCT
cblr-13858	1308	1	investment	investment	NOUN
cblr-13858	1308	2	advisers	adviser	NOUN
cblr-13858	1308	3	release	release	VERB
cblr-13858	1308	4	,	,	PUNCT
cblr-13858	1308	5	supra	supra	PROPN
cblr-13858	1308	6	note	note	NOUN
cblr-13858	1308	7	336	336	NUM
cblr-13858	1308	8	,	,	PUNCT
cblr-13858	1308	9	at	at	ADP
cblr-13858	1308	10	38402	38402	NUM
cblr-13858	1308	11	(	(	PUNCT
cblr-13858	1308	12	emphasis	emphasis	NOUN
cblr-13858	1308	13	added	add	VERB
cblr-13858	1308	14	)	)	PUNCT
cblr-13858	1308	15	.	.	PUNCT
cblr-13858	1309	1	342	342	NUM
cblr-13858	1309	2	see	see	VERB
cblr-13858	1309	3	hazen	hazen	PROPN
cblr-13858	1309	4	,	,	PUNCT
cblr-13858	1309	5	supra	supra	PROPN
cblr-13858	1309	6	note	note	PROPN
cblr-13858	1309	7	42	42	NUM
cblr-13858	1309	8	,	,	PUNCT
cblr-13858	1309	9	at	at	ADP
cblr-13858	1309	10	29	29	NUM
cblr-13858	1309	11	(	(	PUNCT
cblr-13858	1309	12	"	"	PUNCT
cblr-13858	1309	13	the	the	DET
cblr-13858	1309	14	rendering	rendering	NOUN
cblr-13858	1309	15	of	of	ADP
cblr-13858	1309	16	investment	investment	NOUN
cblr-13858	1309	17	advice	advice	NOUN
cblr-13858	1309	18	without	without	ADP
cblr-13858	1309	19	compensation	compensation	NOUN
cblr-13858	1309	20	is	be	AUX
cblr-13858	1309	21	likely	likely	ADJ
cblr-13858	1309	22	to	to	PART
cblr-13858	1309	23	take	take	VERB
cblr-13858	1309	24	the	the	DET
cblr-13858	1309	25	person	person	NOUN
cblr-13858	1309	26	rendering	render	VERB
cblr-13858	1309	27	the	the	DET
cblr-13858	1309	28	advice	advice	NOUN
cblr-13858	1309	29	out	out	ADV
cblr-13858	1309	30	from	from	ADP
cblr-13858	1309	31	under	under	ADP
cblr-13858	1309	32	the	the	DET
cblr-13858	1309	33	purview	purview	NOUN
cblr-13858	1309	34	of	of	ADP
cblr-13858	1309	35	the	the	DET
cblr-13858	1309	36	investment	investment	NOUN
cblr-13858	1309	37	advisers	adviser	NOUN
cblr-13858	1309	38	act	act	VERB
cblr-13858	1309	39	.	.	PUNCT
cblr-13858	1309	40	"	"	PUNCT
cblr-13858	1309	41	)	)	PUNCT
cblr-13858	1309	42	.	.	PUNCT
cblr-13858	1309	43	"	"	PUNCT
cblr-13858	1310	1	investment	investment	NOUN
cblr-13858	1310	2	advisers	adviser	NOUN
cblr-13858	1310	3	release	release	VERB
cblr-13858	1310	4	,	,	PUNCT
cblr-13858	1310	5	supra	supra	PROPN
cblr-13858	1310	6	note	note	NOUN
cblr-13858	1310	7	336	336	NUM
cblr-13858	1310	8	,	,	PUNCT
cblr-13858	1310	9	at	at	ADP
cblr-13858	1310	10	38403	38403	NUM
cblr-13858	1310	11	.	.	PUNCT
cblr-13858	1311	1	see	see	VERB
cblr-13858	1311	2	also	also	ADV
cblr-13858	1311	3	thomas	thomas	PROPN
cblr-13858	1311	4	v.	v.	PROPN
cblr-13858	1311	5	metropolitan	metropolitan	PROPN
cblr-13858	1311	6	life	life	PROPN
cblr-13858	1311	7	ins	ins	PROPN
cblr-13858	1311	8	.	.	PUNCT
cblr-13858	1311	9	co.	co.	PROPN
cblr-13858	1311	10	,	,	PUNCT
cblr-13858	1311	11	631	631	NUM
cblr-13858	1311	12	f.3d	f.3d	NUM
cblr-13858	1311	13	1153	1153	NUM
cblr-13858	1311	14	,	,	PUNCT
cblr-13858	1311	15	1164	1164	NUM
cblr-13858	1311	16	(	(	PUNCT
cblr-13858	1311	17	10th	10th	ADJ
cblr-13858	1311	18	cir	cir	NOUN
cblr-13858	1311	19	.	.	PUNCT
cblr-13858	1311	20	2011	2011	NUM
cblr-13858	1311	21	)	)	PUNCT
cblr-13858	1311	22	;	;	PUNCT
cblr-13858	1311	23	united	united	PROPN
cblr-13858	1311	24	states	states	PROPN
cblr-13858	1311	25	v.	v.	PROPN
cblr-13858	1311	26	elliott	elliott	PROPN
cblr-13858	1311	27	,	,	PUNCT
cblr-13858	1311	28	62	62	NUM
cblr-13858	1311	29	f.3d	f.3d	NUM
cblr-13858	1311	30	1304	1304	NUM
cblr-13858	1311	31	,	,	PUNCT
cblr-13858	1311	32	1311	1311	NUM
cblr-13858	1311	33	(	(	PUNCT
cblr-13858	1311	34	11th	11th	ADJ
cblr-13858	1311	35	cir	cir	NOUN
cblr-13858	1311	36	.	.	PROPN
cblr-13858	1311	37	1995	1995	NUM
cblr-13858	1311	38	)	)	PUNCT
cblr-13858	1311	39	;	;	PUNCT
cblr-13858	1311	40	lemke	lemke	PROPN
cblr-13858	1311	41	&	&	CCONJ
cblr-13858	1311	42	lins	lins	PROPN
cblr-13858	1311	43	,	,	PUNCT
cblr-13858	1311	44	supra	supra	PROPN
cblr-13858	1311	45	note	note	NOUN
cblr-13858	1311	46	340	340	NUM
cblr-13858	1311	47	,	,	PUNCT
cblr-13858	1311	48	at	at	ADP
cblr-13858	1311	49	4	4	NUM
cblr-13858	1311	50	.	.	PUNCT
cblr-13858	1311	51	'	'	PUNCT
cblr-13858	1312	1	kiva	kiva	NOUN
cblr-13858	1312	2	is	be	AUX
cblr-13858	1312	3	an	an	DET
cblr-13858	1312	4	exception	exception	NOUN
cblr-13858	1312	5	.	.	PUNCT
cblr-13858	1313	1	it	it	PRON
cblr-13858	1313	2	funds	fund	VERB
cblr-13858	1313	3	itself	itself	PRON
cblr-13858	1313	4	through	through	ADP
cblr-13858	1313	5	donations	donation	NOUN
cblr-13858	1313	6	.	.	PUNCT
cblr-13858	1314	1	345	345	NUM
cblr-13858	1314	2	friedman	friedman	PROPN
cblr-13858	1314	3	,	,	PUNCT
cblr-13858	1314	4	securities	security	NOUN
cblr-13858	1314	5	regulation	regulation	NOUN
cblr-13858	1314	6	,	,	PUNCT
cblr-13858	1314	7	supra	supra	PROPN
cblr-13858	1314	8	note	note	PROPN
cblr-13858	1314	9	266	266	NUM
cblr-13858	1314	10	,	,	PUNCT
cblr-13858	1314	11	at	at	ADP
cblr-13858	1314	12	17	17	NUM
cblr-13858	1314	13	-	-	SYM
cblr-13858	1314	14	5	5	NUM
cblr-13858	1314	15	(	(	PUNCT
cblr-13858	1314	16	"	"	PUNCT
cblr-13858	1314	17	if	if	SCONJ
cblr-13858	1314	18	a	a	DET
cblr-13858	1314	19	website	website	NOUN
cblr-13858	1314	20	offering	offer	VERB
cblr-13858	1314	21	investment	investment	NOUN
cblr-13858	1314	22	advice	advice	NOUN
cblr-13858	1314	23	grants	grant	NOUN
cblr-13858	1314	24	access	access	NOUN
cblr-13858	1314	25	only	only	ADV
cblr-13858	1314	26	to	to	ADP
cblr-13858	1314	27	those	those	PRON
cblr-13858	1314	28	who	who	PRON
cblr-13858	1314	29	pay	pay	VERB
cblr-13858	1314	30	a	a	DET
cblr-13858	1314	31	subscription	subscription	NOUN
cblr-13858	1314	32	fee	fee	NOUN
cblr-13858	1314	33	,	,	PUNCT
cblr-13858	1314	34	clearly	clearly	ADV
cblr-13858	1314	35	its	its	PRON
cblr-13858	1314	36	sponsor	sponsor	NOUN
cblr-13858	1314	37	is	be	AUX
cblr-13858	1314	38	receiving	receive	VERB
cblr-13858	1314	39	compensation	compensation	NOUN
cblr-13858	1314	40	for	for	ADP
cblr-13858	1314	41	investment	investment	NOUN
cblr-13858	1314	42	advice	advice	NOUN
cblr-13858	1314	43	.	.	PUNCT
cblr-13858	1314	44	"	"	PUNCT
cblr-13858	1314	45	)	)	PUNCT
cblr-13858	1314	46	.	.	PUNCT
cblr-13858	1315	1	friedman	friedman	PROPN
cblr-13858	1315	2	notes	note	VERB
cblr-13858	1315	3	that	that	SCONJ
cblr-13858	1315	4	the	the	DET
cblr-13858	1315	5	question	question	NOUN
cblr-13858	1315	6	would	would	AUX
cblr-13858	1315	7	be	be	AUX
cblr-13858	1315	8	more	more	ADV
cblr-13858	1315	9	difficult	difficult	ADJ
cblr-13858	1315	10	if	if	SCONJ
cblr-13858	1315	11	the	the	DET
cblr-13858	1315	12	web	web	NOUN
cblr-13858	1315	13	site	site	NOUN
cblr-13858	1315	14	were	be	AUX
cblr-13858	1315	15	funded	fund	VERB
cblr-13858	1315	16	only	only	ADV
cblr-13858	1315	17	by	by	ADP
cblr-13858	1315	18	advertisements	advertisement	NOUN
cblr-13858	1315	19	.	.	PUNCT
cblr-13858	1316	1	i	i	PRON
cblr-13858	1316	2	d.	d.	PROPN
cblr-13858	1316	3	no	no	INTJ
cblr-13858	1316	4	.	.	PUNCT
cblr-13858	1317	1	i1:1	i1:1	X
cblr-13858	1317	2	]	]	X
cblr-13858	1318	1	69	69	NUM
cblr-13858	1318	2	purchasing	purchasing	NOUN
cblr-13858	1318	3	,	,	PUNCT
cblr-13858	1318	4	or	or	CCONJ
cblr-13858	1318	5	selling	sell	VERB
cblr-13858	1318	6	securities	security	NOUN
cblr-13858	1318	7	.	.	PUNCT
cblr-13858	1319	1	"34	"34	NOUN
cblr-13858	1319	2	6	6	NUM
cblr-13858	1319	3	they	they	PRON
cblr-13858	1319	4	may	may	AUX
cblr-13858	1319	5	,	,	PUNCT
cblr-13858	1319	6	however	however	ADV
cblr-13858	1319	7	,	,	PUNCT
cblr-13858	1319	8	be	be	AUX
cblr-13858	1319	9	issuing	issue	VERB
cblr-13858	1319	10	"	"	PUNCT
cblr-13858	1319	11	analyses	analysis	NOUN
cblr-13858	1319	12	or	or	CCONJ
cblr-13858	1319	13	reports	report	NOUN
cblr-13858	1319	14	concerning	concern	VERB
cblr-13858	1319	15	securities,"347	securities,"347	PROPN
cblr-13858	1319	16	assuming	assume	VERB
cblr-13858	1319	17	that	that	SCONJ
cblr-13858	1319	18	securities	security	NOUN
cblr-13858	1319	19	are	be	AUX
cblr-13858	1319	20	being	be	AUX
cblr-13858	1319	21	offered	offer	VERB
cblr-13858	1319	22	on	on	ADP
cblr-13858	1319	23	the	the	DET
cblr-13858	1319	24	site	site	NOUN
cblr-13858	1319	25	.	.	PUNCT
cblr-13858	1320	1	the	the	DET
cblr-13858	1320	2	case	case	NOUN
cblr-13858	1320	3	law	law	NOUN
cblr-13858	1320	4	and	and	CCONJ
cblr-13858	1320	5	guidance	guidance	NOUN
cblr-13858	1320	6	from	from	ADP
cblr-13858	1320	7	the	the	DET
cblr-13858	1320	8	sec	sec	PROPN
cblr-13858	1320	9	are	be	AUX
cblr-13858	1320	10	simply	simply	ADV
cblr-13858	1320	11	too	too	ADV
cblr-13858	1320	12	uncertain	uncertain	ADJ
cblr-13858	1320	13	to	to	PART
cblr-13858	1320	14	offer	offer	VERB
cblr-13858	1320	15	a	a	DET
cblr-13858	1320	16	definitive	definitive	ADJ
cblr-13858	1320	17	conclusion	conclusion	NOUN
cblr-13858	1320	18	.	.	PUNCT
cblr-13858	1321	1	consider	consider	VERB
cblr-13858	1321	2	first	first	ADV
cblr-13858	1321	3	the	the	DET
cblr-13858	1321	4	advice	advice	NOUN
cblr-13858	1321	5	portion	portion	NOUN
cblr-13858	1321	6	of	of	ADP
cblr-13858	1321	7	the	the	DET
cblr-13858	1321	8	definition	definition	NOUN
cblr-13858	1321	9	.	.	PUNCT
cblr-13858	1322	1	most	most	ADJ
cblr-13858	1322	2	of	of	ADP
cblr-13858	1322	3	the	the	DET
cblr-13858	1322	4	existing	exist	VERB
cblr-13858	1322	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1322	6	sites	site	NOUN
cblr-13858	1322	7	do	do	AUX
cblr-13858	1322	8	not	not	PART
cblr-13858	1322	9	advise	advise	VERB
cblr-13858	1322	10	investors	investor	NOUN
cblr-13858	1322	11	as	as	ADP
cblr-13858	1322	12	to	to	ADP
cblr-13858	1322	13	the	the	DET
cblr-13858	1322	14	merits	merit	NOUN
cblr-13858	1322	15	of	of	ADP
cblr-13858	1322	16	particular	particular	ADJ
cblr-13858	1322	17	opportunities	opportunity	NOUN
cblr-13858	1322	18	,	,	PUNCT
cblr-13858	1322	19	or	or	CCONJ
cblr-13858	1322	20	evaluate	evaluate	VERB
cblr-13858	1322	21	or	or	CCONJ
cblr-13858	1322	22	rate	rate	VERB
cblr-13858	1322	23	the	the	DET
cblr-13858	1322	24	potential	potential	ADJ
cblr-13858	1322	25	investments	investment	NOUN
cblr-13858	1322	26	.	.	PUNCT
cblr-13858	1323	1	advice	advice	NOUN
cblr-13858	1323	2	does	do	AUX
cblr-13858	1323	3	not	not	PART
cblr-13858	1323	4	have	have	VERB
cblr-13858	1323	5	to	to	PART
cblr-13858	1323	6	relate	relate	VERB
cblr-13858	1323	7	to	to	ADP
cblr-13858	1323	8	specific	specific	ADJ
cblr-13858	1323	9	securities	security	NOUN
cblr-13858	1323	10	to	to	PART
cblr-13858	1323	11	make	make	VERB
cblr-13858	1323	12	one	one	PRON
cblr-13858	1323	13	an	an	DET
cblr-13858	1323	14	investment	investment	NOUN
cblr-13858	1323	15	adviser.3	adviser.3	ADP
cblr-13858	1323	16	48	48	NUM
cblr-13858	1323	17	a	a	DET
cblr-13858	1323	18	discussion	discussion	NOUN
cblr-13858	1323	19	of	of	ADP
cblr-13858	1323	20	the	the	DET
cblr-13858	1323	21	relative	relative	ADJ
cblr-13858	1323	22	advantages	advantage	NOUN
cblr-13858	1323	23	of	of	ADP
cblr-13858	1323	24	investing	invest	VERB
cblr-13858	1323	25	in	in	ADP
cblr-13858	1323	26	securities	security	NOUN
cblr-13858	1323	27	rather	rather	ADV
cblr-13858	1323	28	than	than	ADP
cblr-13858	1323	29	other	other	ADJ
cblr-13858	1323	30	investments	investment	NOUN
cblr-13858	1323	31	would	would	AUX
cblr-13858	1323	32	suffice,3	suffice,3	VERB
cblr-13858	1323	33	49	49	NUM
cblr-13858	1323	34	but	but	CCONJ
cblr-13858	1323	35	crowdfunding	crowdfunding	NOUN
cblr-13858	1323	36	sites	site	NOUN
cblr-13858	1323	37	typically	typically	ADV
cblr-13858	1323	38	do	do	AUX
cblr-13858	1323	39	not	not	PART
cblr-13858	1323	40	even	even	ADV
cblr-13858	1323	41	do	do	VERB
cblr-13858	1323	42	this	this	PRON
cblr-13858	1323	43	.	.	PUNCT
cblr-13858	1324	1	the	the	DET
cblr-13858	1324	2	obvious	obvious	ADJ
cblr-13858	1324	3	exceptions	exception	NOUN
cblr-13858	1324	4	are	be	AUX
cblr-13858	1324	5	prosper	prosper	ADJ
cblr-13858	1324	6	and	and	CCONJ
cblr-13858	1324	7	lending	lending	NOUN
cblr-13858	1324	8	club	club	NOUN
cblr-13858	1324	9	,	,	PUNCT
cblr-13858	1324	10	which	which	PRON
cblr-13858	1324	11	assign	assign	VERB
cblr-13858	1324	12	ratings	rating	NOUN
cblr-13858	1324	13	to	to	ADP
cblr-13858	1324	14	individual	individual	ADJ
cblr-13858	1324	15	loans	loan	NOUN
cblr-13858	1324	16	.	.	PUNCT
cblr-13858	1325	1	if	if	SCONJ
cblr-13858	1325	2	prosper	prosper	VERB
cblr-13858	1325	3	and	and	CCONJ
cblr-13858	1325	4	lending	lending	NOUN
cblr-13858	1325	5	club	club	NOUN
cblr-13858	1325	6	were	be	AUX
cblr-13858	1325	7	selling	sell	VERB
cblr-13858	1325	8	those	those	DET
cblr-13858	1325	9	loans	loan	NOUN
cblr-13858	1325	10	directly	directly	ADV
cblr-13858	1325	11	to	to	ADP
cblr-13858	1325	12	lenders	lender	NOUN
cblr-13858	1325	13	,	,	PUNCT
cblr-13858	1325	14	as	as	SCONJ
cblr-13858	1325	15	they	they	PRON
cblr-13858	1325	16	did	do	VERB
cblr-13858	1325	17	prior	prior	ADV
cblr-13858	1325	18	to	to	ADP
cblr-13858	1325	19	registration	registration	NOUN
cblr-13858	1325	20	,	,	PUNCT
cblr-13858	1325	21	the	the	DET
cblr-13858	1325	22	case	case	NOUN
cblr-13858	1325	23	for	for	ADP
cblr-13858	1325	24	investment	investment	NOUN
cblr-13858	1325	25	adviser	adviser	NOUN
cblr-13858	1325	26	status	status	NOUN
cblr-13858	1325	27	would	would	AUX
cblr-13858	1325	28	be	be	AUX
cblr-13858	1325	29	strong	strong	ADJ
cblr-13858	1325	30	.	.	PUNCT
cblr-13858	1326	1	their	their	PRON
cblr-13858	1326	2	current	current	ADJ
cblr-13858	1326	3	pass	pass	VERB
cblr-13858	1326	4	-	-	PUNCT
cblr-13858	1326	5	through	through	ADP
cblr-13858	1326	6	programs	program	NOUN
cblr-13858	1326	7	cloud	cloud	VERB
cblr-13858	1326	8	the	the	DET
cblr-13858	1326	9	analysis	analysis	NOUN
cblr-13858	1326	10	.	.	PUNCT
cblr-13858	1327	1	now	now	ADV
cblr-13858	1327	2	they	they	PRON
cblr-13858	1327	3	are	be	AUX
cblr-13858	1327	4	,	,	PUNCT
cblr-13858	1327	5	in	in	ADP
cblr-13858	1327	6	effect	effect	NOUN
cblr-13858	1327	7	,	,	PUNCT
cblr-13858	1327	8	commenting	comment	VERB
cblr-13858	1327	9	on	on	ADP
cblr-13858	1327	10	the	the	DET
cblr-13858	1327	11	value	value	NOUN
cblr-13858	1327	12	of	of	ADP
cblr-13858	1327	13	their	their	PRON
cblr-13858	1327	14	own	own	ADJ
cblr-13858	1327	15	notes	note	NOUN
cblr-13858	1327	16	,	,	PUNCT
cblr-13858	1327	17	not	not	PART
cblr-13858	1327	18	advising	advise	VERB
cblr-13858	1327	19	investors	investor	NOUN
cblr-13858	1327	20	as	as	ADP
cblr-13858	1327	21	to	to	ADP
cblr-13858	1327	22	securities	security	NOUN
cblr-13858	1327	23	issued	issue	VERB
cblr-13858	1327	24	by	by	ADP
cblr-13858	1327	25	others	other	NOUN
cblr-13858	1327	26	.	.	PUNCT
cblr-13858	1328	1	almost	almost	ADV
cblr-13858	1328	2	every	every	PRON
cblr-13858	1328	3	issuer	issuer	NOUN
cblr-13858	1328	4	of	of	ADP
cblr-13858	1328	5	securities	security	NOUN
cblr-13858	1328	6	discusses	discuss	VERB
cblr-13858	1328	7	the	the	DET
cblr-13858	1328	8	value	value	NOUN
cblr-13858	1328	9	of	of	ADP
cblr-13858	1328	10	the	the	DET
cblr-13858	1328	11	securities	security	NOUN
cblr-13858	1328	12	it	it	PRON
cblr-13858	1328	13	issues	issue	VERB
cblr-13858	1328	14	.	.	PUNCT
cblr-13858	1329	1	if	if	SCONJ
cblr-13858	1329	2	that	that	PRON
cblr-13858	1329	3	were	be	AUX
cblr-13858	1329	4	enough	enough	ADJ
cblr-13858	1329	5	to	to	PART
cblr-13858	1329	6	make	make	VERB
cblr-13858	1329	7	one	one	NUM
cblr-13858	1329	8	an	an	DET
cblr-13858	1329	9	investment	investment	NOUN
cblr-13858	1329	10	adviser	adviser	NOUN
cblr-13858	1329	11	,	,	PUNCT
cblr-13858	1329	12	then	then	ADV
cblr-13858	1329	13	every	every	DET
cblr-13858	1329	14	company	company	NOUN
cblr-13858	1329	15	would	would	AUX
cblr-13858	1329	16	be	be	AUX
cblr-13858	1329	17	an	an	DET
cblr-13858	1329	18	investment	investment	NOUN
cblr-13858	1329	19	adviser	adviser	NOUN
cblr-13858	1329	20	.	.	PUNCT
cblr-13858	1330	1	thus	thus	ADV
cblr-13858	1330	2	,	,	PUNCT
cblr-13858	1330	3	as	as	ADV
cblr-13858	1330	4	long	long	ADV
cblr-13858	1330	5	as	as	SCONJ
cblr-13858	1330	6	the	the	DET
cblr-13858	1330	7	sec	sec	PROPN
cblr-13858	1330	8	continues	continue	VERB
cblr-13858	1330	9	to	to	PART
cblr-13858	1330	10	treat	treat	VERB
cblr-13858	1330	11	prosper	prosper	NOUN
cblr-13858	1330	12	and	and	CCONJ
cblr-13858	1330	13	lending	lending	NOUN
cblr-13858	1330	14	club	club	NOUN
cblr-13858	1330	15	as	as	ADP
cblr-13858	1330	16	the	the	DET
cblr-13858	1330	17	"	"	PUNCT
cblr-13858	1330	18	issuers	issuer	NOUN
cblr-13858	1330	19	"	"	PUNCT
cblr-13858	1330	20	of	of	ADP
cblr-13858	1330	21	these	these	DET
cblr-13858	1330	22	securities	security	NOUN
cblr-13858	1330	23	,	,	PUNCT
cblr-13858	1330	24	it	it	PRON
cblr-13858	1330	25	is	be	AUX
cblr-13858	1330	26	difficult	difficult	ADJ
cblr-13858	1330	27	to	to	PART
cblr-13858	1330	28	see	see	VERB
cblr-13858	1330	29	them	they	PRON
cblr-13858	1330	30	as	as	ADP
cblr-13858	1330	31	investment	investment	NOUN
cblr-13858	1330	32	advisers	adviser	NOUN
cblr-13858	1330	33	.	.	PUNCT
cblr-13858	1331	1	for	for	ADP
cblr-13858	1331	2	the	the	DET
cblr-13858	1331	3	other	other	ADJ
cblr-13858	1331	4	crowdfunding	crowdfunding	NOUN
cblr-13858	1331	5	sites	site	NOUN
cblr-13858	1331	6	,	,	PUNCT
cblr-13858	1331	7	the	the	DET
cblr-13858	1331	8	problem	problem	NOUN
cblr-13858	1331	9	,	,	PUNCT
cblr-13858	1331	10	if	if	SCONJ
cblr-13858	1331	11	there	there	PRON
cblr-13858	1331	12	is	be	VERB
cblr-13858	1331	13	one	one	NUM
cblr-13858	1331	14	,	,	PUNCT
cblr-13858	1331	15	comes	come	VERB
cblr-13858	1331	16	under	under	ADP
cblr-13858	1331	17	the	the	DET
cblr-13858	1331	18	second	second	ADJ
cblr-13858	1331	19	part	part	NOUN
cblr-13858	1331	20	of	of	ADP
cblr-13858	1331	21	the	the	DET
cblr-13858	1331	22	definition	definition	NOUN
cblr-13858	1331	23	.	.	PUNCT
cblr-13858	1332	1	crowdfunding	crowdfunde	VERB
cblr-13858	1332	2	sites	site	NOUN
cblr-13858	1332	3	may	may	AUX
cblr-13858	1332	4	be	be	AUX
cblr-13858	1332	5	issuing	issue	VERB
cblr-13858	1332	6	"	"	PUNCT
cblr-13858	1332	7	analyses	analysis	NOUN
cblr-13858	1332	8	or	or	CCONJ
cblr-13858	1332	9	reports	report	NOUN
cblr-13858	1332	10	concerning	concern	VERB
cblr-13858	1332	11	securities	security	NOUN
cblr-13858	1332	12	.	.	PUNCT
cblr-13858	1332	13	"	"	PUNCT
cblr-13858	1333	1	the	the	DET
cblr-13858	1333	2	sec	sec	PROPN
cblr-13858	1333	3	staff	staff	NOUN
cblr-13858	1333	4	has	have	AUX
cblr-13858	1333	5	indicated	indicate	VERB
cblr-13858	1333	6	that	that	SCONJ
cblr-13858	1333	7	someone	someone	PRON
cblr-13858	1333	8	providing	provide	VERB
cblr-13858	1333	9	investors	investor	NOUN
cblr-13858	1333	10	with	with	ADP
cblr-13858	1333	11	statistical	statistical	ADJ
cblr-13858	1333	12	data	datum	NOUN
cblr-13858	1333	13	on	on	ADP
cblr-13858	1333	14	companies	company	NOUN
cblr-13858	1333	15	or	or	CCONJ
cblr-13858	1333	16	a	a	DET
cblr-13858	1333	17	listing	listing	NOUN
cblr-13858	1333	18	of	of	ADP
cblr-13858	1333	19	investment	investment	NOUN
cblr-13858	1333	20	opportunities	opportunity	NOUN
cblr-13858	1333	21	is	be	AUX
cblr-13858	1333	22	not	not	PART
cblr-13858	1333	23	issuing	issue	VERB
cblr-13858	1333	24	analyses	analysis	NOUN
cblr-13858	1333	25	or	or	CCONJ
cblr-13858	1333	26	reports	report	NOUN
cblr-13858	1333	27	if	if	SCONJ
cblr-13858	1333	28	(	(	PUNCT
cblr-13858	1333	29	1	1	X
cblr-13858	1333	30	)	)	PUNCT
cblr-13858	1333	31	the	the	DET
cblr-13858	1333	32	information	information	NOUN
cblr-13858	1333	33	is	be	AUX
cblr-13858	1333	34	readily	readily	ADV
cblr-13858	1333	35	"	"	PUNCT
cblr-13858	1333	36	see	see	VERB
cblr-13858	1333	37	investment	investment	NOUN
cblr-13858	1333	38	advisers	adviser	NOUN
cblr-13858	1333	39	act	act	VERB
cblr-13858	1333	40	of	of	ADP
cblr-13858	1333	41	1940	1940	NUM
cblr-13858	1333	42	§	§	PROPN
cblr-13858	1333	43	202(a)(11	202(a)(11	NUM
cblr-13858	1333	44	)	)	PUNCT
cblr-13858	1333	45	,	,	PUNCT
cblr-13858	1333	46	15	15	NUM
cblr-13858	1333	47	u.s.c	u.s.c	ADJ
cblr-13858	1333	48	.	.	PUNCT
cblr-13858	1334	1	§	§	PROPN
cblr-13858	1334	2	80b2(a)(11	80b2(a)(11	PROPN
cblr-13858	1334	3	)	)	PUNCT
cblr-13858	1334	4	(	(	PUNCT
cblr-13858	1334	5	2006	2006	NUM
cblr-13858	1334	6	)	)	PUNCT
cblr-13858	1334	7	.	.	PUNCT
cblr-13858	1335	1	3	3	NUM
cblr-13858	1336	1	i	i	PRON
cblr-13858	1336	2	d.	d.	NOUN
cblr-13858	1336	3	3	3	NUM
cblr-13858	1336	4	investment	investment	NOUN
cblr-13858	1336	5	advisers	adviser	NOUN
cblr-13858	1336	6	release	release	VERB
cblr-13858	1336	7	,	,	PUNCT
cblr-13858	1336	8	supra	supra	PROPN
cblr-13858	1336	9	note	note	NOUN
cblr-13858	1336	10	336	336	NUM
cblr-13858	1336	11	,	,	PUNCT
cblr-13858	1336	12	at	at	ADP
cblr-13858	1336	13	38402	38402	NUM
cblr-13858	1336	14	.	.	PUNCT
cblr-13858	1337	1	3	3	NUM
cblr-13858	1338	1	i	i	PRON
cblr-13858	1338	2	d.	d.	PROPN
cblr-13858	1338	3	see	see	VERB
cblr-13858	1338	4	also	also	ADV
cblr-13858	1338	5	lemke	lemke	PROPN
cblr-13858	1338	6	&	&	CCONJ
cblr-13858	1338	7	lins	lins	PROPN
cblr-13858	1338	8	,	,	PUNCT
cblr-13858	1338	9	supra	supra	PROPN
cblr-13858	1338	10	note	note	NOUN
cblr-13858	1338	11	340	340	NUM
cblr-13858	1338	12	,	,	PUNCT
cblr-13858	1338	13	at	at	ADP
cblr-13858	1338	14	6	6	NUM
cblr-13858	1338	15	-	-	SYM
cblr-13858	1338	16	7	7	NUM
cblr-13858	1338	17	.	.	NOUN
cblr-13858	1338	18	70	70	NUM
cblr-13858	1338	19	col	col	PROPN
cblr-13858	1338	20	umia	umia	PROPN
cblr-13858	1338	21	b	b	PROPN
cblr-13858	1338	22	usiness	usiness	PROPN
cblr-13858	1338	23	la	la	PROPN
cblr-13858	1338	24	w	w	PROPN
cblr-13858	1338	25	re	re	PROPN
cblr-13858	1338	26	vie	vie	PROPN
cblr-13858	1338	27	w	w	PROPN
cblr-13858	1339	1	[	[	X
cblr-13858	1339	2	vol	vol	NOUN
cblr-13858	1339	3	.	.	PUNCT
cblr-13858	1339	4	2012	2012	NUM
cblr-13858	1339	5	available	available	ADJ
cblr-13858	1339	6	to	to	ADP
cblr-13858	1339	7	the	the	DET
cblr-13858	1339	8	public	public	NOUN
cblr-13858	1339	9	in	in	ADP
cblr-13858	1339	10	its	its	PRON
cblr-13858	1339	11	raw	raw	ADJ
cblr-13858	1339	12	state	state	NOUN
cblr-13858	1339	13	;	;	PUNCT
cblr-13858	1339	14	(	(	PUNCT
cblr-13858	1339	15	2	2	X
cblr-13858	1339	16	)	)	PUNCT
cblr-13858	1339	17	the	the	DET
cblr-13858	1339	18	categories	category	NOUN
cblr-13858	1339	19	of	of	ADP
cblr-13858	1339	20	information	information	NOUN
cblr-13858	1339	21	presented	present	VERB
cblr-13858	1339	22	are	be	AUX
cblr-13858	1339	23	not	not	PART
cblr-13858	1339	24	highly	highly	ADV
cblr-13858	1339	25	selective	selective	ADJ
cblr-13858	1339	26	;	;	PUNCT
cblr-13858	1339	27	and	and	CCONJ
cblr-13858	1339	28	(	(	PUNCT
cblr-13858	1339	29	3	3	X
cblr-13858	1339	30	)	)	PUNCT
cblr-13858	1339	31	the	the	DET
cblr-13858	1339	32	information	information	NOUN
cblr-13858	1339	33	is	be	AUX
cblr-13858	1339	34	not	not	PART
cblr-13858	1339	35	organized	organize	VERB
cblr-13858	1339	36	or	or	CCONJ
cblr-13858	1339	37	presented	present	VERB
cblr-13858	1339	38	in	in	ADP
cblr-13858	1339	39	a	a	DET
cblr-13858	1339	40	manner	manner	NOUN
cblr-13858	1339	41	that	that	PRON
cblr-13858	1339	42	suggests	suggest	VERB
cblr-13858	1339	43	the	the	DET
cblr-13858	1339	44	purchase	purchase	NOUN
cblr-13858	1339	45	,	,	PUNCT
cblr-13858	1339	46	holding	holding	NOUN
cblr-13858	1339	47	,	,	PUNCT
cblr-13858	1339	48	or	or	CCONJ
cblr-13858	1339	49	sale	sale	NOUN
cblr-13858	1339	50	of	of	ADP
cblr-13858	1339	51	any	any	DET
cblr-13858	1339	52	security.so	security.so	NOUN
cblr-13858	1339	53	these	these	DET
cblr-13858	1339	54	requirements	requirement	NOUN
cblr-13858	1339	55	seem	seem	VERB
cblr-13858	1339	56	problematic	problematic	ADJ
cblr-13858	1339	57	for	for	ADP
cblr-13858	1339	58	crowdfunding	crowdfunding	NOUN
cblr-13858	1339	59	sites	site	NOUN
cblr-13858	1339	60	.	.	PUNCT
cblr-13858	1340	1	the	the	DET
cblr-13858	1340	2	entrepreneur	entrepreneur	NOUN
cblr-13858	1340	3	's	's	PART
cblr-13858	1340	4	information	information	NOUN
cblr-13858	1340	5	is	be	AUX
cblr-13858	1340	6	not	not	PART
cblr-13858	1340	7	readily	readily	ADV
cblr-13858	1340	8	available	available	ADJ
cblr-13858	1340	9	to	to	ADP
cblr-13858	1340	10	the	the	DET
cblr-13858	1340	11	public	public	ADJ
cblr-13858	1340	12	other	other	ADJ
cblr-13858	1340	13	than	than	ADP
cblr-13858	1340	14	through	through	ADP
cblr-13858	1340	15	the	the	DET
cblr-13858	1340	16	crowdfunding	crowdfunding	NOUN
cblr-13858	1340	17	site	site	NOUN
cblr-13858	1340	18	.	.	PUNCT
cblr-13858	1341	1	and	and	CCONJ
cblr-13858	1341	2	the	the	DET
cblr-13858	1341	3	whole	whole	ADJ
cblr-13858	1341	4	point	point	NOUN
cblr-13858	1341	5	of	of	ADP
cblr-13858	1341	6	the	the	DET
cblr-13858	1341	7	listing	listing	NOUN
cblr-13858	1341	8	is	be	AUX
cblr-13858	1341	9	to	to	PART
cblr-13858	1341	10	suggest	suggest	VERB
cblr-13858	1341	11	that	that	SCONJ
cblr-13858	1341	12	investors	investor	NOUN
cblr-13858	1341	13	purchase	purchase	VERB
cblr-13858	1341	14	a	a	DET
cblr-13858	1341	15	security	security	NOUN
cblr-13858	1341	16	by	by	ADP
cblr-13858	1341	17	investing	invest	VERB
cblr-13858	1341	18	in	in	ADP
cblr-13858	1341	19	the	the	DET
cblr-13858	1341	20	entrepreneurs	entrepreneur	NOUN
cblr-13858	1341	21	'	'	PART
cblr-13858	1341	22	companies	company	NOUN
cblr-13858	1341	23	.	.	PUNCT
cblr-13858	1342	1	however	however	ADV
cblr-13858	1342	2	,	,	PUNCT
cblr-13858	1342	3	the	the	DET
cblr-13858	1342	4	sec	sec	PROPN
cblr-13858	1342	5	staff	staff	NOUN
cblr-13858	1342	6	has	have	AUX
cblr-13858	1342	7	granted	grant	VERB
cblr-13858	1342	8	no	no	DET
cblr-13858	1342	9	-	-	PUNCT
cblr-13858	1342	10	action	action	NOUN
cblr-13858	1342	11	relief	relief	NOUN
cblr-13858	1342	12	to	to	ADP
cblr-13858	1342	13	several	several	ADJ
cblr-13858	1342	14	matching	matching	NOUN
cblr-13858	1342	15	services	service	NOUN
cblr-13858	1342	16	,	,	PUNCT
cblr-13858	1342	17	which	which	PRON
cblr-13858	1342	18	,	,	PUNCT
cblr-13858	1342	19	like	like	ADP
cblr-13858	1342	20	crowdfunding	crowdfunding	NOUN
cblr-13858	1342	21	sites	site	NOUN
cblr-13858	1342	22	,	,	PUNCT
cblr-13858	1342	23	are	be	AUX
cblr-13858	1342	24	created	create	VERB
cblr-13858	1342	25	to	to	PART
cblr-13858	1342	26	promote	promote	VERB
cblr-13858	1342	27	the	the	DET
cblr-13858	1342	28	purchase	purchase	NOUN
cblr-13858	1342	29	of	of	ADP
cblr-13858	1342	30	entrepreneurs	entrepreneur	NOUN
cblr-13858	1342	31	'	'	PART
cblr-13858	1342	32	securities	security	NOUN
cblr-13858	1342	33	and	and	CCONJ
cblr-13858	1342	34	typically	typically	ADV
cblr-13858	1342	35	provide	provide	VERB
cblr-13858	1342	36	non	non	ADJ
cblr-13858	1342	37	-	-	ADJ
cblr-13858	1342	38	public	public	ADJ
cblr-13858	1342	39	information	information	NOUN
cblr-13858	1342	40	.	.	PUNCT
cblr-13858	1343	1	like	like	ADP
cblr-13858	1343	2	crowdfunding	crowdfunde	VERB
cblr-13858	1343	3	sites	site	NOUN
cblr-13858	1343	4	,	,	PUNCT
cblr-13858	1343	5	those	those	DET
cblr-13858	1343	6	matching	matching	NOUN
cblr-13858	1343	7	services	service	NOUN
cblr-13858	1343	8	are	be	AUX
cblr-13858	1343	9	created	create	VERB
cblr-13858	1343	10	to	to	PART
cblr-13858	1343	11	promote	promote	VERB
cblr-13858	1343	12	the	the	DET
cblr-13858	1343	13	purchase	purchase	NOUN
cblr-13858	1343	14	of	of	ADP
cblr-13858	1343	15	entrepreneurs	entrepreneur	NOUN
cblr-13858	1343	16	'	'	PART
cblr-13858	1343	17	securities	security	NOUN
cblr-13858	1343	18	,	,	PUNCT
cblr-13858	1343	19	and	and	CCONJ
cblr-13858	1343	20	the	the	DET
cblr-13858	1343	21	information	information	NOUN
cblr-13858	1343	22	provided	provide	VERB
cblr-13858	1343	23	by	by	ADP
cblr-13858	1343	24	those	those	DET
cblr-13858	1343	25	small	small	ADJ
cblr-13858	1343	26	business	business	NOUN
cblr-13858	1343	27	entrepreneurs	entrepreneur	NOUN
cblr-13858	1343	28	is	be	AUX
cblr-13858	1343	29	not	not	PART
cblr-13858	1343	30	typically	typically	ADV
cblr-13858	1343	31	publicly	publicly	ADV
cblr-13858	1343	32	available	available	ADJ
cblr-13858	1343	33	.	.	PUNCT
cblr-13858	1344	1	no	no	DET
cblr-13858	1344	2	cases	case	NOUN
cblr-13858	1344	3	directly	directly	ADV
cblr-13858	1344	4	address	address	VERB
cblr-13858	1344	5	whether	whether	SCONJ
cblr-13858	1344	6	crowdfunding	crowdfunding	NOUN
cblr-13858	1344	7	sites	site	NOUN
cblr-13858	1344	8	are	be	AUX
cblr-13858	1344	9	investment	investment	NOUN
cblr-13858	1344	10	advisers	adviser	NOUN
cblr-13858	1344	11	,	,	PUNCT
cblr-13858	1344	12	but	but	CCONJ
cblr-13858	1344	13	other	other	ADJ
cblr-13858	1344	14	investment	investment	NOUN
cblr-13858	1344	15	-	-	PUNCT
cblr-13858	1344	16	adviser	adviser	NOUN
cblr-13858	1344	17	cases	case	NOUN
cblr-13858	1344	18	support	support	VERB
cblr-13858	1344	19	treating	treat	VERB
cblr-13858	1344	20	crowdfunding	crowdfunding	NOUN
cblr-13858	1344	21	sites	site	NOUN
cblr-13858	1344	22	as	as	ADP
cblr-13858	1344	23	investment	investment	NOUN
cblr-13858	1344	24	advisers	adviser	NOUN
cblr-13858	1344	25	.	.	PUNCT
cblr-13858	1345	1	two	two	NUM
cblr-13858	1345	2	cases	case	NOUN
cblr-13858	1345	3	have	have	AUX
cblr-13858	1345	4	held	hold	VERB
cblr-13858	1345	5	that	that	SCONJ
cblr-13858	1345	6	general	general	ADJ
cblr-13858	1345	7	partners	partner	NOUN
cblr-13858	1345	8	'	'	PART
cblr-13858	1345	9	financial	financial	ADJ
cblr-13858	1345	10	reports	report	NOUN
cblr-13858	1345	11	to	to	ADP
cblr-13858	1345	12	limited	limited	ADJ
cblr-13858	1345	13	partners	partner	NOUN
cblr-13858	1345	14	on	on	ADP
cblr-13858	1345	15	the	the	DET
cblr-13858	1345	16	status	status	NOUN
cblr-13858	1345	17	of	of	ADP
cblr-13858	1345	18	the	the	DET
cblr-13858	1345	19	partnerships	partnership	NOUN
cblr-13858	1345	20	'	'	PART
cblr-13858	1345	21	investments	investment	NOUN
cblr-13858	1345	22	constituted	constitute	VERB
cblr-13858	1345	23	investment	investment	NOUN
cblr-13858	1345	24	advice	advice	NOUN
cblr-13858	1345	25	for	for	ADP
cblr-13858	1345	26	purposes	purpose	NOUN
cblr-13858	1345	27	of	of	ADP
cblr-13858	1345	28	the	the	DET
cblr-13858	1345	29	definition.3	definition.3	PROPN
cblr-13858	1345	30	5	5	NUM
cblr-13858	1345	31	'	'	PUNCT
cblr-13858	1345	32	those	those	DET
cblr-13858	1345	33	reports	report	NOUN
cblr-13858	1345	34	,	,	PUNCT
cblr-13858	1345	35	like	like	SCONJ
cblr-13858	1345	36	the	the	DET
cblr-13858	1345	37	company	company	NOUN
cblr-13858	1345	38	reports	report	VERB
cblr-13858	1345	39	available	available	ADJ
cblr-13858	1345	40	to	to	ADP
cblr-13858	1345	41	investors	investor	NOUN
cblr-13858	1345	42	on	on	ADP
cblr-13858	1345	43	some	some	DET
cblr-13858	1345	44	crowdfunding	crowdfunding	NOUN
cblr-13858	1345	45	sites	site	NOUN
cblr-13858	1345	46	,	,	PUNCT
cblr-13858	1345	47	included	include	VERB
cblr-13858	1345	48	financial	financial	ADJ
cblr-13858	1345	49	statements	statement	NOUN
cblr-13858	1345	50	and	and	CCONJ
cblr-13858	1345	51	a	a	DET
cblr-13858	1345	52	calculation	calculation	NOUN
cblr-13858	1345	53	of	of	ADP
cblr-13858	1345	54	investors	investor	NOUN
cblr-13858	1345	55	'	'	PART
cblr-13858	1345	56	returns.3	returns.3	NOUN
cblr-13858	1345	57	52	52	NUM
cblr-13858	1345	58	even	even	ADV
cblr-13858	1345	59	though	though	SCONJ
cblr-13858	1345	60	the	the	DET
cblr-13858	1345	61	defendants	defendant	NOUN
cblr-13858	1345	62	were	be	AUX
cblr-13858	1345	63	not	not	PART
cblr-13858	1345	64	offering	offer	VERB
cblr-13858	1345	65	the	the	DET
cblr-13858	1345	66	limited	limited	ADJ
cblr-13858	1345	67	partners	partner	NOUN
cblr-13858	1345	68	any	any	DET
cblr-13858	1345	69	actual	actual	ADJ
cblr-13858	1345	70	advice	advice	NOUN
cblr-13858	1345	71	in	in	ADP
cblr-13858	1345	72	these	these	DET
cblr-13858	1345	73	reports	report	NOUN
cblr-13858	1345	74	-	-	PUNCT
cblr-13858	1345	75	they	they	PRON
cblr-13858	1345	76	o	o	VERB
cblr-13858	1345	77	see	see	VERB
cblr-13858	1345	78	,	,	PUNCT
cblr-13858	1345	79	e.g.	e.g.	ADV
cblr-13858	1345	80	,	,	PUNCT
cblr-13858	1345	81	angel	angel	NOUN
cblr-13858	1345	82	capital	capital	PROPN
cblr-13858	1345	83	elec	elec	PROPN
cblr-13858	1345	84	.	.	PUNCT
cblr-13858	1346	1	network	network	PROPN
cblr-13858	1346	2	,	,	PUNCT
cblr-13858	1346	3	sec	sec	PROPN
cblr-13858	1346	4	no	no	DET
cblr-13858	1346	5	-	-	PUNCT
cblr-13858	1346	6	action	action	NOUN
cblr-13858	1346	7	letter	letter	NOUN
cblr-13858	1346	8	,	,	PUNCT
cblr-13858	1346	9	1996	1996	NUM
cblr-13858	1346	10	wl	wl	X
cblr-13858	1346	11	636094	636094	NUM
cblr-13858	1346	12	(	(	PUNCT
cblr-13858	1346	13	oct	oct	PROPN
cblr-13858	1346	14	.	.	PROPN
cblr-13858	1346	15	25	25	NUM
cblr-13858	1346	16	,	,	PUNCT
cblr-13858	1346	17	1996	1996	NUM
cblr-13858	1346	18	)	)	PUNCT
cblr-13858	1346	19	;	;	PUNCT
cblr-13858	1346	20	mo	mo	PROPN
cblr-13858	1346	21	.	.	PROPN
cblr-13858	1346	22	innovation	innovation	PROPN
cblr-13858	1346	23	ctr	ctr	PROPN
cblr-13858	1346	24	.	.	PROPN
cblr-13858	1346	25	,	,	PUNCT
cblr-13858	1346	26	inc	inc	PROPN
cblr-13858	1346	27	.	.	PROPN
cblr-13858	1346	28	,	,	PUNCT
cblr-13858	1346	29	sec	sec	PROPN
cblr-13858	1346	30	no	no	DET
cblr-13858	1346	31	-	-	PUNCT
cblr-13858	1346	32	action	action	NOUN
cblr-13858	1346	33	letter	letter	NOUN
cblr-13858	1346	34	,	,	PUNCT
cblr-13858	1346	35	1995	1995	NUM
cblr-13858	1346	36	wl	wl	PROPN
cblr-13858	1346	37	643949	643949	NUM
cblr-13858	1346	38	(	(	PUNCT
cblr-13858	1346	39	oct	oct	PROPN
cblr-13858	1346	40	.	.	PROPN
cblr-13858	1346	41	17	17	NUM
cblr-13858	1346	42	,	,	PUNCT
cblr-13858	1346	43	1995	1995	NUM
cblr-13858	1346	44	)	)	PUNCT
cblr-13858	1346	45	;	;	PUNCT
cblr-13858	1346	46	media	media	PROPN
cblr-13858	1346	47	gen	gen	PROPN
cblr-13858	1346	48	.	.	PROPN
cblr-13858	1346	49	fin	fin	PROPN
cblr-13858	1346	50	.	.	PUNCT
cblr-13858	1347	1	servs	servs	PROPN
cblr-13858	1347	2	.	.	PROPN
cblr-13858	1347	3	,	,	PUNCT
cblr-13858	1347	4	inc	inc	PROPN
cblr-13858	1347	5	.	.	PROPN
cblr-13858	1347	6	,	,	PUNCT
cblr-13858	1347	7	sec	sec	PROPN
cblr-13858	1347	8	no	no	DET
cblr-13858	1347	9	-	-	PUNCT
cblr-13858	1347	10	action	action	NOUN
cblr-13858	1347	11	letter	letter	NOUN
cblr-13858	1347	12	,	,	PUNCT
cblr-13858	1347	13	1992	1992	NUM
cblr-13858	1347	14	wl	wl	NOUN
cblr-13858	1347	15	198262	198262	NUM
cblr-13858	1347	16	(	(	PUNCT
cblr-13858	1347	17	july	july	PROPN
cblr-13858	1347	18	20	20	NUM
cblr-13858	1347	19	,	,	PUNCT
cblr-13858	1347	20	1992	1992	NUM
cblr-13858	1347	21	)	)	PUNCT
cblr-13858	1347	22	;	;	PUNCT
cblr-13858	1347	23	investex	investex	NOUN
cblr-13858	1347	24	inv	inv	PROPN
cblr-13858	1347	25	.	.	PUNCT
cblr-13858	1348	1	exch	exch	PROPN
cblr-13858	1348	2	.	.	PROPN
cblr-13858	1348	3	inc	inc	PROPN
cblr-13858	1349	1	.	.	PROPN
cblr-13858	1349	2	,	,	PUNCT
cblr-13858	1349	3	sec	sec	PROPN
cblr-13858	1349	4	no	no	DET
cblr-13858	1349	5	-	-	PUNCT
cblr-13858	1349	6	action	action	NOUN
cblr-13858	1349	7	letter	letter	NOUN
cblr-13858	1349	8	,	,	PUNCT
cblr-13858	1349	9	1990	1990	NUM
cblr-13858	1349	10	wl	wl	NOUN
cblr-13858	1349	11	286331	286331	NUM
cblr-13858	1349	12	(	(	PUNCT
cblr-13858	1349	13	apr	apr	NOUN
cblr-13858	1349	14	.	.	PROPN
cblr-13858	1349	15	9	9	NUM
cblr-13858	1349	16	,	,	PUNCT
cblr-13858	1349	17	1990	1990	NUM
cblr-13858	1349	18	)	)	PUNCT
cblr-13858	1349	19	;	;	PUNCT
cblr-13858	1349	20	charles	charles	PROPN
cblr-13858	1349	21	st	st	PROPN
cblr-13858	1349	22	.	.	PROPN
cblr-13858	1349	23	sec	sec	PROPN
cblr-13858	1349	24	.	.	PROPN
cblr-13858	1349	25	,	,	PUNCT
cblr-13858	1349	26	inc	inc	PROPN
cblr-13858	1349	27	.	.	PROPN
cblr-13858	1349	28	,	,	PUNCT
cblr-13858	1349	29	sec	sec	PROPN
cblr-13858	1349	30	no	no	DET
cblr-13858	1349	31	-	-	PUNCT
cblr-13858	1349	32	action	action	NOUN
cblr-13858	1349	33	letter	letter	NOUN
cblr-13858	1349	34	,	,	PUNCT
cblr-13858	1349	35	1987	1987	NUM
cblr-13858	1349	36	wl	wl	NOUN
cblr-13858	1349	37	107616	107616	NUM
cblr-13858	1349	38	(	(	PUNCT
cblr-13858	1349	39	jan	jan	PROPN
cblr-13858	1349	40	.	.	PROPN
cblr-13858	1349	41	28	28	NUM
cblr-13858	1349	42	,	,	PUNCT
cblr-13858	1349	43	1987	1987	NUM
cblr-13858	1349	44	)	)	PUNCT
cblr-13858	1349	45	.	.	PUNCT
cblr-13858	1350	1	see	see	VERB
cblr-13858	1350	2	generally	generally	ADV
cblr-13858	1350	3	friedman	friedman	PROPN
cblr-13858	1350	4	,	,	PUNCT
cblr-13858	1350	5	securities	security	NOUN
cblr-13858	1350	6	regulation	regulation	NOUN
cblr-13858	1350	7	,	,	PUNCT
cblr-13858	1350	8	supra	supra	PROPN
cblr-13858	1350	9	note	note	PROPN
cblr-13858	1350	10	266	266	NUM
cblr-13858	1350	11	,	,	PUNCT
cblr-13858	1350	12	at	at	ADP
cblr-13858	1350	13	17	17	NUM
cblr-13858	1350	14	-	-	SYM
cblr-13858	1350	15	3	3	NUM
cblr-13858	1350	16	;	;	PUNCT
cblr-13858	1350	17	lemke	lemke	PROPN
cblr-13858	1350	18	&	&	CCONJ
cblr-13858	1350	19	lins	lins	PROPN
cblr-13858	1350	20	,	,	PUNCT
cblr-13858	1350	21	supra	supra	PROPN
cblr-13858	1350	22	note	note	NOUN
cblr-13858	1350	23	340	340	NUM
cblr-13858	1350	24	,	,	PUNCT
cblr-13858	1350	25	at	at	ADP
cblr-13858	1350	26	7	7	NUM
cblr-13858	1350	27	.	.	PUNCT
cblr-13858	1350	28	"	"	PUNCT
cblr-13858	1350	29	see	see	VERB
cblr-13858	1350	30	abrahamson	abrahamson	PROPN
cblr-13858	1350	31	v.	v.	PROPN
cblr-13858	1350	32	fleschner	fleschner	NOUN
cblr-13858	1350	33	,	,	PUNCT
cblr-13858	1350	34	568	568	NUM
cblr-13858	1350	35	f.2d	f.2d	NOUN
cblr-13858	1350	36	862	862	NUM
cblr-13858	1350	37	,	,	PUNCT
cblr-13858	1350	38	870	870	NUM
cblr-13858	1350	39	(	(	PUNCT
cblr-13858	1350	40	2d	2d	NUM
cblr-13858	1350	41	cir	cir	NOUN
cblr-13858	1350	42	.	.	PUNCT
cblr-13858	1350	43	1977	1977	NUM
cblr-13858	1350	44	)	)	PUNCT
cblr-13858	1350	45	;	;	PUNCT
cblr-13858	1350	46	sec	sec	PROPN
cblr-13858	1350	47	v.	v.	PROPN
cblr-13858	1350	48	saltzman	saltzman	PROPN
cblr-13858	1350	49	,	,	PUNCT
cblr-13858	1350	50	127	127	NUM
cblr-13858	1350	51	f.	f.	PROPN
cblr-13858	1350	52	supp	supp	PROPN
cblr-13858	1350	53	.	.	PUNCT
cblr-13858	1351	1	2d	2d	PROPN
cblr-13858	1351	2	660	660	NUM
cblr-13858	1351	3	,	,	PUNCT
cblr-13858	1351	4	669	669	NUM
cblr-13858	1351	5	(	(	PUNCT
cblr-13858	1351	6	e.d	e.d	PROPN
cblr-13858	1351	7	.	.	PROPN
cblr-13858	1351	8	pa	pa	PROPN
cblr-13858	1351	9	.	.	PROPN
cblr-13858	1351	10	2000	2000	NUM
cblr-13858	1351	11	)	)	PUNCT
cblr-13858	1351	12	.	.	PUNCT
cblr-13858	1352	1	352	352	NUM
cblr-13858	1352	2	see	see	VERB
cblr-13858	1352	3	fleschner	fleschner	NOUN
cblr-13858	1352	4	,	,	PUNCT
cblr-13858	1352	5	568	568	NUM
cblr-13858	1352	6	f.2d	f.2d	NOUN
cblr-13858	1352	7	at	at	ADP
cblr-13858	1352	8	866	866	NUM
cblr-13858	1352	9	;	;	PUNCT
cblr-13858	1352	10	saltzman	saltzman	NOUN
cblr-13858	1352	11	,	,	PUNCT
cblr-13858	1352	12	127	127	NUM
cblr-13858	1352	13	f.	f.	PROPN
cblr-13858	1352	14	supp	supp	PROPN
cblr-13858	1352	15	.	.	PUNCT
cblr-13858	1353	1	2d	2d	PROPN
cblr-13858	1353	2	at	at	ADP
cblr-13858	1353	3	669	669	NUM
cblr-13858	1353	4	.	.	PUNCT
cblr-13858	1354	1	71no	71no	ADJ
cblr-13858	1354	2	.	.	PUNCT
cblr-13858	1355	1	1	1	NUM
cblr-13858	1355	2	:	:	SYM
cblr-13858	1355	3	1	1	NUM
cblr-13858	1355	4	]	]	PUNCT
cblr-13858	1355	5	cro	cro	NOUN
cblr-13858	1355	6	wdfunding	wdfunding	NOUN
cblr-13858	1355	7	and	and	CCONJ
cblr-13858	1355	8	securities	security	NOUN
cblr-13858	1355	9	la	la	PRON
cblr-13858	1355	10	ws	ws	PROPN
cblr-13858	1355	11	were	be	AUX
cblr-13858	1355	12	only	only	ADV
cblr-13858	1355	13	providing	provide	VERB
cblr-13858	1355	14	performance	performance	NOUN
cblr-13858	1355	15	data	datum	NOUN
cblr-13858	1355	16	-	-	PUNCT
cblr-13858	1355	17	the	the	DET
cblr-13858	1355	18	courts	court	NOUN
cblr-13858	1355	19	concluded	conclude	VERB
cblr-13858	1355	20	that	that	SCONJ
cblr-13858	1355	21	the	the	DET
cblr-13858	1355	22	investment	investment	NOUN
cblr-13858	1355	23	advisers	adviser	NOUN
cblr-13858	1355	24	act	act	VERB
cblr-13858	1355	25	applied	apply	VERB
cblr-13858	1355	26	because	because	SCONJ
cblr-13858	1355	27	the	the	DET
cblr-13858	1355	28	limited	limited	ADJ
cblr-13858	1355	29	partners	partner	NOUN
cblr-13858	1355	30	would	would	AUX
cblr-13858	1355	31	use	use	VERB
cblr-13858	1355	32	the	the	DET
cblr-13858	1355	33	reports	report	NOUN
cblr-13858	1355	34	to	to	PART
cblr-13858	1355	35	decide	decide	VERB
cblr-13858	1355	36	whether	whether	SCONJ
cblr-13858	1355	37	to	to	PART
cblr-13858	1355	38	continue	continue	VERB
cblr-13858	1355	39	their	their	PRON
cblr-13858	1355	40	investments	investment	NOUN
cblr-13858	1355	41	in	in	ADP
cblr-13858	1355	42	the	the	DET
cblr-13858	1355	43	partnership	partnership	NOUN
cblr-13858	1355	44	.	.	PUNCT
cblr-13858	1356	1	"	"	PUNCT
cblr-13858	1356	2	'	'	PUNCT
cblr-13858	1356	3	similarly	similarly	ADV
cblr-13858	1356	4	,	,	PUNCT
cblr-13858	1356	5	even	even	ADV
cblr-13858	1356	6	though	though	SCONJ
cblr-13858	1356	7	crowdfunding	crowdfunding	NOUN
cblr-13858	1356	8	sites	site	NOUN
cblr-13858	1356	9	are	be	AUX
cblr-13858	1356	10	not	not	PART
cblr-13858	1356	11	advising	advise	VERB
cblr-13858	1356	12	investors	investor	NOUN
cblr-13858	1356	13	to	to	PART
cblr-13858	1356	14	invest	invest	VERB
cblr-13858	1356	15	in	in	ADP
cblr-13858	1356	16	a	a	DET
cblr-13858	1356	17	particular	particular	ADJ
cblr-13858	1356	18	company	company	NOUN
cblr-13858	1356	19	,	,	PUNCT
cblr-13858	1356	20	they	they	PRON
cblr-13858	1356	21	are	be	AUX
cblr-13858	1356	22	providing	provide	VERB
cblr-13858	1356	23	the	the	DET
cblr-13858	1356	24	reports	report	NOUN
cblr-13858	1356	25	that	that	SCONJ
cblr-13858	1356	26	the	the	DET
cblr-13858	1356	27	investors	investor	NOUN
cblr-13858	1356	28	will	will	AUX
cblr-13858	1356	29	use	use	VERB
cblr-13858	1356	30	to	to	PART
cblr-13858	1356	31	make	make	VERB
cblr-13858	1356	32	investment	investment	NOUN
cblr-13858	1356	33	decisions	decision	NOUN
cblr-13858	1356	34	.	.	PUNCT
cblr-13858	1357	1	most	most	ADJ
cblr-13858	1357	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1357	3	sites	site	NOUN
cblr-13858	1357	4	,	,	PUNCT
cblr-13858	1357	5	however	however	ADV
cblr-13858	1357	6	,	,	PUNCT
cblr-13858	1357	7	do	do	AUX
cblr-13858	1357	8	not	not	PART
cblr-13858	1357	9	independently	independently	ADV
cblr-13858	1357	10	generate	generate	VERB
cblr-13858	1357	11	reports	report	NOUN
cblr-13858	1357	12	on	on	ADP
cblr-13858	1357	13	the	the	DET
cblr-13858	1357	14	companies	company	NOUN
cblr-13858	1357	15	listed	list	VERB
cblr-13858	1357	16	.	.	PUNCT
cblr-13858	1358	1	they	they	PRON
cblr-13858	1358	2	merely	merely	ADV
cblr-13858	1358	3	post	post	VERB
cblr-13858	1358	4	funding	funding	NOUN
cblr-13858	1358	5	requests	request	NOUN
cblr-13858	1358	6	and	and	CCONJ
cblr-13858	1358	7	other	other	ADJ
cblr-13858	1358	8	information	information	NOUN
cblr-13858	1358	9	produced	produce	VERB
cblr-13858	1358	10	by	by	ADP
cblr-13858	1358	11	the	the	DET
cblr-13858	1358	12	entrepreneurs	entrepreneur	NOUN
cblr-13858	1358	13	themselves	themselves	PRON
cblr-13858	1358	14	.	.	PUNCT
cblr-13858	1359	1	because	because	SCONJ
cblr-13858	1359	2	they	they	PRON
cblr-13858	1359	3	function	function	VERB
cblr-13858	1359	4	as	as	ADP
cblr-13858	1359	5	mere	mere	ADJ
cblr-13858	1359	6	conduits	conduit	NOUN
cblr-13858	1359	7	for	for	ADP
cblr-13858	1359	8	information	information	NOUN
cblr-13858	1359	9	and	and	CCONJ
cblr-13858	1359	10	do	do	AUX
cblr-13858	1359	11	not	not	PART
cblr-13858	1359	12	create	create	VERB
cblr-13858	1359	13	anything	anything	PRON
cblr-13858	1359	14	themselves	themselves	PRON
cblr-13858	1359	15	,	,	PUNCT
cblr-13858	1359	16	they	they	PRON
cblr-13858	1359	17	arguably	arguably	ADV
cblr-13858	1359	18	are	be	AUX
cblr-13858	1359	19	not	not	PART
cblr-13858	1359	20	providing	provide	VERB
cblr-13858	1359	21	any	any	DET
cblr-13858	1359	22	"	"	PUNCT
cblr-13858	1359	23	advice	advice	NOUN
cblr-13858	1359	24	"	"	PUNCT
cblr-13858	1359	25	or	or	CCONJ
cblr-13858	1359	26	"	"	PUNCT
cblr-13858	1359	27	analyses	analysis	NOUN
cblr-13858	1359	28	"	"	PUNCT
cblr-13858	1359	29	or	or	CCONJ
cblr-13858	1359	30	"	"	PUNCT
cblr-13858	1359	31	reports	report	NOUN
cblr-13858	1359	32	"	"	PUNCT
cblr-13858	1359	33	at	at	ADV
cblr-13858	1359	34	all	all	ADV
cblr-13858	1359	35	.	.	PUNCT
cblr-13858	1360	1	however	however	ADV
cblr-13858	1360	2	,	,	PUNCT
cblr-13858	1360	3	at	at	ADV
cblr-13858	1360	4	least	least	ADV
cblr-13858	1360	5	two	two	NUM
cblr-13858	1360	6	cases	case	NOUN
cblr-13858	1360	7	have	have	AUX
cblr-13858	1360	8	rejected	reject	VERB
cblr-13858	1360	9	this	this	DET
cblr-13858	1360	10	"	"	PUNCT
cblr-13858	1360	11	mere	mere	ADJ
cblr-13858	1360	12	conduit	conduit	NOUN
cblr-13858	1360	13	"	"	PUNCT
cblr-13858	1360	14	argument	argument	NOUN
cblr-13858	1360	15	.	.	PUNCT
cblr-13858	1361	1	in	in	ADP
cblr-13858	1361	2	sec	sec	PROPN
cblr-13858	1361	3	v.	v.	PROPN
cblr-13858	1361	4	wall	wall	PROPN
cblr-13858	1361	5	street	street	PROPN
cblr-13858	1361	6	transcript	transcript	PROPN
cblr-13858	1361	7	corp	corp	PROPN
cblr-13858	1361	8	.	.	PROPN
cblr-13858	1361	9	,	,	PUNCT
cblr-13858	1361	10	the	the	DET
cblr-13858	1361	11	defendant	defendant	NOUN
cblr-13858	1361	12	published	publish	VERB
cblr-13858	1361	13	a	a	DET
cblr-13858	1361	14	weekly	weekly	ADJ
cblr-13858	1361	15	tabloid	tabloid	NOUN
cblr-13858	1361	16	containing	contain	VERB
cblr-13858	1361	17	verbatim	verbatim	ADJ
cblr-13858	1361	18	reprints	reprint	NOUN
cblr-13858	1361	19	of	of	ADP
cblr-13858	1361	20	reports	report	NOUN
cblr-13858	1361	21	on	on	ADP
cblr-13858	1361	22	securities	security	NOUN
cblr-13858	1361	23	issued	issue	VERB
cblr-13858	1361	24	by	by	ADP
cblr-13858	1361	25	brokers	broker	NOUN
cblr-13858	1361	26	.	.	PUNCT
cblr-13858	1362	1	the	the	DET
cblr-13858	1362	2	court	court	NOUN
cblr-13858	1362	3	concluded	conclude	VERB
cblr-13858	1362	4	that	that	SCONJ
cblr-13858	1362	5	"	"	PUNCT
cblr-13858	1362	6	there	there	PRON
cblr-13858	1362	7	can	can	AUX
cblr-13858	1362	8	be	be	AUX
cblr-13858	1362	9	no	no	DET
cblr-13858	1362	10	doubt	doubt	NOUN
cblr-13858	1362	11	that	that	SCONJ
cblr-13858	1362	12	,	,	PUNCT
cblr-13858	1362	13	for	for	ADP
cblr-13858	1362	14	purposes	purpose	NOUN
cblr-13858	1362	15	of	of	ADP
cblr-13858	1362	16	the	the	PRON
cblr-13858	1362	17	.	.	PUNCT
cblr-13858	1362	18	..	..	PUNCT
cblr-13858	1363	1	[	[	X
cblr-13858	1363	2	investment	investment	NOUN
cblr-13858	1363	3	advisers	adviser	NOUN
cblr-13858	1363	4	act	act	VERB
cblr-13858	1363	5	]	]	PUNCT
cblr-13858	1363	6	,	,	PUNCT
cblr-13858	1363	7	.	.	PUNCT
cblr-13858	1363	8	.	.	PUNCT
cblr-13858	1363	9	.	.	PUNCT
cblr-13858	1364	1	[	[	X
cblr-13858	1364	2	the	the	DET
cblr-13858	1364	3	defendant	defendant	NOUN
cblr-13858	1364	4	]	]	PUNCT
cblr-13858	1364	5	.	.	PUNCT
cblr-13858	1364	6	.	.	PUNCT
cblr-13858	1364	7	.	.	PUNCT
cblr-13858	1365	1	'	'	PUNCT
cblr-13858	1365	2	issues	issue	NOUN
cblr-13858	1365	3	'	'	PART
cblr-13858	1365	4	analyses	analysis	NOUN
cblr-13858	1365	5	and	and	CCONJ
cblr-13858	1365	6	reports	report	NOUN
cblr-13858	1365	7	concerning	concern	VERB
cblr-13858	1365	8	securities	security	NOUN
cblr-13858	1365	9	.	.	PUNCT
cblr-13858	1365	10	.	.	PUNCT
cblr-13858	1366	1	.	.	PUNCT
cblr-13858	1366	2	.	.	PUNCT
cblr-13858	1367	1	that	that	PRON
cblr-13858	1367	2	a	a	DET
cblr-13858	1367	3	publication	publication	NOUN
cblr-13858	1367	4	acts	act	VERB
cblr-13858	1367	5	as	as	ADP
cblr-13858	1367	6	a	a	DET
cblr-13858	1367	7	mere	mere	ADJ
cblr-13858	1367	8	conduit	conduit	NOUN
cblr-13858	1367	9	for	for	ADP
cblr-13858	1367	10	investment	investment	NOUN
cblr-13858	1367	11	advice	advice	NOUN
cblr-13858	1367	12	written	write	VERB
cblr-13858	1367	13	by	by	ADP
cblr-13858	1367	14	others	other	NOUN
cblr-13858	1367	15	obviously	obviously	ADV
cblr-13858	1367	16	does	do	AUX
cblr-13858	1367	17	not	not	PART
cblr-13858	1367	18	insure	insure	VERB
cblr-13858	1367	19	against	against	ADP
cblr-13858	1367	20	the	the	DET
cblr-13858	1367	21	possibility	possibility	NOUN
cblr-13858	1367	22	that	that	SCONJ
cblr-13858	1367	23	the	the	DET
cblr-13858	1367	24	publisher	publisher	NOUN
cblr-13858	1367	25	will	will	AUX
cblr-13858	1367	26	engage	engage	VERB
cblr-13858	1367	27	in	in	ADP
cblr-13858	1367	28	the	the	DET
cblr-13858	1367	29	fraudulent	fraudulent	ADJ
cblr-13858	1367	30	activities	activity	NOUN
cblr-13858	1367	31	the	the	DET
cblr-13858	1367	32	act	act	NOUN
cblr-13858	1367	33	was	be	AUX
cblr-13858	1367	34	designed	design	VERB
cblr-13858	1367	35	to	to	PART
cblr-13858	1367	36	prevent	prevent	VERB
cblr-13858	1367	37	.	.	PUNCT
cblr-13858	1368	1	"	"	PUNCT
cblr-13858	1368	2	"	"	PUNCT
cblr-13858	1368	3	'	'	PUNCT
cblr-13858	1368	4	similarly	similarly	ADV
cblr-13858	1368	5	,	,	PUNCT
cblr-13858	1368	6	in	in	ADP
cblr-13858	1368	7	zinn	zinn	PROPN
cblr-13858	1368	8	v.	v.	ADP
cblr-13858	1368	9	parrish,35	parrish,35	NOUN
cblr-13858	1368	10	6	6	NUM
cblr-13858	1368	11	a	a	DET
cblr-13858	1368	12	sports	sport	NOUN
cblr-13858	1368	13	agent	agent	NOUN
cblr-13858	1368	14	occasionally	occasionally	ADV
cblr-13858	1368	15	transmitted	transmit	VERB
cblr-13858	1368	16	to	to	ADP
cblr-13858	1368	17	one	one	NUM
cblr-13858	1368	18	of	of	ADP
cblr-13858	1368	19	his	his	PRON
cblr-13858	1368	20	clients	client	NOUN
cblr-13858	1368	21	securities	security	NOUN
cblr-13858	1368	22	recommendations	recommendation	NOUN
cblr-13858	1368	23	made	make	VERB
cblr-13858	1368	24	by	by	ADP
cblr-13858	1368	25	others	other	NOUN
cblr-13858	1368	26	.	.	PUNCT
cblr-13858	1368	27	"	"	PUNCT
cblr-13858	1368	28	'	'	PUNCT
cblr-13858	1368	29	the	the	DET
cblr-13858	1368	30	court	court	NOUN
cblr-13858	1368	31	held	hold	VERB
cblr-13858	1368	32	that	that	SCONJ
cblr-13858	1368	33	the	the	DET
cblr-13858	1368	34	agent	agent	NOUN
cblr-13858	1368	35	was	be	AUX
cblr-13858	1368	36	not	not	PART
cblr-13858	1368	37	"	"	PUNCT
cblr-13858	1368	38	in	in	ADP
cblr-13858	1368	39	the	the	DET
cblr-13858	1368	40	business	business	NOUN
cblr-13858	1368	41	"	"	PUNCT
cblr-13858	1368	42	of	of	ADP
cblr-13858	1368	43	offering	offer	VERB
cblr-13858	1368	44	investment	investment	NOUN
cblr-13858	1368	45	3	3	NUM
cblr-13858	1368	46	in	in	ADP
cblr-13858	1368	47	those	those	DET
cblr-13858	1368	48	cases	case	NOUN
cblr-13858	1368	49	,	,	PUNCT
cblr-13858	1368	50	the	the	DET
cblr-13858	1368	51	general	general	ADJ
cblr-13858	1368	52	partners	partner	NOUN
cblr-13858	1368	53	were	be	AUX
cblr-13858	1368	54	also	also	ADV
cblr-13858	1368	55	actually	actually	ADV
cblr-13858	1368	56	making	make	VERB
cblr-13858	1368	57	investment	investment	NOUN
cblr-13858	1368	58	decisions	decision	NOUN
cblr-13858	1368	59	for	for	ADP
cblr-13858	1368	60	the	the	DET
cblr-13858	1368	61	partnership	partnership	NOUN
cblr-13858	1368	62	,	,	PUNCT
cblr-13858	1368	63	but	but	CCONJ
cblr-13858	1368	64	both	both	DET
cblr-13858	1368	65	courts	court	NOUN
cblr-13858	1368	66	seemed	seem	VERB
cblr-13858	1368	67	to	to	PART
cblr-13858	1368	68	see	see	VERB
cblr-13858	1368	69	the	the	DET
cblr-13858	1368	70	reports	report	NOUN
cblr-13858	1368	71	themselves	themselves	PRON
cblr-13858	1368	72	as	as	ADV
cblr-13858	1368	73	sufficient	sufficient	ADJ
cblr-13858	1368	74	to	to	PART
cblr-13858	1368	75	make	make	VERB
cblr-13858	1368	76	one	one	NUM
cblr-13858	1368	77	an	an	DET
cblr-13858	1368	78	investment	investment	NOUN
cblr-13858	1368	79	adviser	adviser	NOUN
cblr-13858	1368	80	.	.	PUNCT
cblr-13858	1369	1	"	"	PUNCT
cblr-13858	1369	2	454	454	NUM
cblr-13858	1369	3	f.	f.	PROPN
cblr-13858	1369	4	supp	supp	PROPN
cblr-13858	1369	5	.	.	PUNCT
cblr-13858	1370	1	559	559	NUM
cblr-13858	1370	2	(	(	PUNCT
cblr-13858	1370	3	s.d.n.y	s.d.n.y	PROPN
cblr-13858	1370	4	.	.	PROPN
cblr-13858	1370	5	1978	1978	NUM
cblr-13858	1370	6	)	)	PUNCT
cblr-13858	1370	7	.	.	PUNCT
cblr-13858	1371	1	3	3	NUM
cblr-13858	1372	1	i	i	PRON
cblr-13858	1372	2	d.	d.	NOUN
cblr-13858	1372	3	at	at	ADP
cblr-13858	1372	4	565	565	NUM
cblr-13858	1372	5	.	.	PUNCT
cblr-13858	1373	1	however	however	ADV
cblr-13858	1373	2	,	,	PUNCT
cblr-13858	1373	3	after	after	ADP
cblr-13858	1373	4	finding	find	VERB
cblr-13858	1373	5	that	that	SCONJ
cblr-13858	1373	6	the	the	DET
cblr-13858	1373	7	defendant	defendant	NOUN
cblr-13858	1373	8	fell	fall	VERB
cblr-13858	1373	9	within	within	ADP
cblr-13858	1373	10	the	the	DET
cblr-13858	1373	11	general	general	ADJ
cblr-13858	1373	12	definition	definition	NOUN
cblr-13858	1373	13	of	of	ADP
cblr-13858	1373	14	investment	investment	NOUN
cblr-13858	1373	15	adviser	adviser	NOUN
cblr-13858	1373	16	,	,	PUNCT
cblr-13858	1373	17	the	the	DET
cblr-13858	1373	18	court	court	NOUN
cblr-13858	1373	19	concluded	conclude	VERB
cblr-13858	1373	20	that	that	SCONJ
cblr-13858	1373	21	the	the	DET
cblr-13858	1373	22	exception	exception	NOUN
cblr-13858	1373	23	in	in	ADP
cblr-13858	1373	24	that	that	DET
cblr-13858	1373	25	definition	definition	NOUN
cblr-13858	1373	26	for	for	ADP
cblr-13858	1373	27	publishers	publisher	NOUN
cblr-13858	1373	28	was	be	AUX
cblr-13858	1373	29	available	available	ADJ
cblr-13858	1373	30	.	.	PUNCT
cblr-13858	1374	1	i	i	PRON
cblr-13858	1374	2	d.	d.	PROPN
cblr-13858	1374	3	at	at	ADP
cblr-13858	1374	4	567	567	NUM
cblr-13858	1374	5	.	.	PUNCT
cblr-13858	1375	1	see	see	VERB
cblr-13858	1375	2	infra	infra	NOUN
cblr-13858	1375	3	part	part	NOUN
cblr-13858	1375	4	iv.c.6	iv.c.6	NOUN
cblr-13858	1375	5	(	(	PUNCT
cblr-13858	1375	6	discussion	discussion	NOUN
cblr-13858	1375	7	of	of	ADP
cblr-13858	1375	8	the	the	DET
cblr-13858	1375	9	exception	exception	NOUN
cblr-13858	1375	10	for	for	ADP
cblr-13858	1375	11	publishers	publisher	NOUN
cblr-13858	1375	12	)	)	PUNCT
cblr-13858	1375	13	.	.	PUNCT
cblr-13858	1376	1	35	35	NUM
cblr-13858	1376	2	644	644	NUM
cblr-13858	1376	3	f.2d	f.2d	X
cblr-13858	1376	4	360	360	NUM
cblr-13858	1376	5	(	(	PUNCT
cblr-13858	1376	6	7th	7th	ADJ
cblr-13858	1376	7	cir	cir	NOUN
cblr-13858	1376	8	.	.	PUNCT
cblr-13858	1376	9	1981	1981	NUM
cblr-13858	1376	10	)	)	PUNCT
cblr-13858	1376	11	.	.	PUNCT
cblr-13858	1377	1	3	3	NUM
cblr-13858	1378	1	i	i	PRON
cblr-13858	1378	2	d.	d.	PROPN
cblr-13858	1378	3	at	at	ADP
cblr-13858	1378	4	364	364	NUM
cblr-13858	1378	5	.	.	PUNCT
cblr-13858	1379	1	coluama	coluama	PROPN
cblr-13858	1379	2	business	business	NOUN
cblr-13858	1379	3	law	law	PROPN
cblr-13858	1379	4	re	re	AUX
cblr-13858	1379	5	view	view	VERB
cblr-13858	1379	6	[	[	X
cblr-13858	1379	7	vol	vol	NOUN
cblr-13858	1379	8	.	.	PUNCT
cblr-13858	1379	9	201272	201272	NUM
cblr-13858	1379	10	advice	advice	NOUN
cblr-13858	1379	11	,	,	PUNCT
cblr-13858	1379	12	but	but	CCONJ
cblr-13858	1379	13	noted	note	VERB
cblr-13858	1379	14	that	that	SCONJ
cblr-13858	1379	15	,	,	PUNCT
cblr-13858	1379	16	if	if	SCONJ
cblr-13858	1379	17	the	the	DET
cblr-13858	1379	18	agent	agent	NOUN
cblr-13858	1379	19	had	have	AUX
cblr-13858	1379	20	passed	pass	VERB
cblr-13858	1379	21	along	along	ADP
cblr-13858	1379	22	such	such	ADJ
cblr-13858	1379	23	recommendations	recommendation	NOUN
cblr-13858	1379	24	more	more	ADV
cblr-13858	1379	25	regularly	regularly	ADV
cblr-13858	1379	26	,	,	PUNCT
cblr-13858	1379	27	he	he	PRON
cblr-13858	1379	28	might	might	AUX
cblr-13858	1379	29	be	be	AUX
cblr-13858	1379	30	an	an	DET
cblr-13858	1379	31	investment	investment	NOUN
cblr-13858	1379	32	adviser	adviser	NOUN
cblr-13858	1379	33	.	.	PUNCT
cblr-13858	1380	1	"	"	PUNCT
cblr-13858	1380	2	"	"	PUNCT
cblr-13858	1380	3	5	5	X
cblr-13858	1380	4	.	.	X
cblr-13858	1380	5	sec	sec	PROPN
cblr-13858	1380	6	no	no	DET
cblr-13858	1380	7	-	-	PUNCT
cblr-13858	1380	8	action	action	NOUN
cblr-13858	1380	9	letters	letter	NOUN
cblr-13858	1380	10	the	the	DET
cblr-13858	1380	11	primary	primary	ADJ
cblr-13858	1380	12	source	source	NOUN
cblr-13858	1380	13	of	of	ADP
cblr-13858	1380	14	guidance	guidance	NOUN
cblr-13858	1380	15	on	on	ADP
cblr-13858	1380	16	the	the	DET
cblr-13858	1380	17	investment	investment	NOUN
cblr-13858	1380	18	adviser	adviser	NOUN
cblr-13858	1380	19	issue	issue	NOUN
cblr-13858	1380	20	comes	come	VERB
cblr-13858	1380	21	in	in	ADP
cblr-13858	1380	22	the	the	DET
cblr-13858	1380	23	form	form	NOUN
cblr-13858	1380	24	of	of	ADP
cblr-13858	1380	25	sec	sec	PROPN
cblr-13858	1380	26	no	no	DET
cblr-13858	1380	27	-	-	PUNCT
cblr-13858	1380	28	action	action	NOUN
cblr-13858	1380	29	letters	letter	NOUN
cblr-13858	1380	30	.	.	PUNCT
cblr-13858	1381	1	the	the	DET
cblr-13858	1381	2	sec	sec	PROPN
cblr-13858	1381	3	staff	staff	NOUN
cblr-13858	1381	4	has	have	AUX
cblr-13858	1381	5	issued	issue	VERB
cblr-13858	1381	6	a	a	DET
cblr-13858	1381	7	large	large	ADJ
cblr-13858	1381	8	number	number	NOUN
cblr-13858	1381	9	of	of	ADP
cblr-13858	1381	10	no	no	DET
cblr-13858	1381	11	-	-	PUNCT
cblr-13858	1381	12	action	action	NOUN
cblr-13858	1381	13	letters	letter	NOUN
cblr-13858	1381	14	to	to	ADP
cblr-13858	1381	15	companies	company	NOUN
cblr-13858	1381	16	that	that	SCONJ
cblr-13858	1381	17	either	either	CCONJ
cblr-13858	1381	18	attempt	attempt	NOUN
cblr-13858	1381	19	to	to	PART
cblr-13858	1381	20	match	match	VERB
cblr-13858	1381	21	investors	investor	NOUN
cblr-13858	1381	22	and	and	CCONJ
cblr-13858	1381	23	entrepreneurs3	entrepreneurs3	NOUN
cblr-13858	1381	24	9	9	NUM
cblr-13858	1381	25	or	or	CCONJ
cblr-13858	1381	26	merely	merely	ADV
cblr-13858	1381	27	present	present	ADJ
cblr-13858	1381	28	investment	investment	NOUN
cblr-13858	1381	29	opportunities	opportunity	NOUN
cblr-13858	1381	30	for	for	ADP
cblr-13858	1381	31	investors	investor	NOUN
cblr-13858	1381	32	'	'	PART
cblr-13858	1381	33	unguided	unguided	ADJ
cblr-13858	1381	34	choice	choice	NOUN
cblr-13858	1381	35	.	.	PUNCT
cblr-13858	1382	1	"60	"60	INTJ
cblr-13858	1382	2	the	the	DET
cblr-13858	1382	3	sec	sec	PROPN
cblr-13858	1382	4	staff	staff	NOUN
cblr-13858	1382	5	has	have	AUX
cblr-13858	1382	6	dealt	deal	VERB
cblr-13858	1382	7	with	with	ADP
cblr-13858	1382	8	so	so	ADV
cblr-13858	1382	9	many	many	ADJ
cblr-13858	1382	10	no	no	DET
cblr-13858	1382	11	-	-	PUNCT
cblr-13858	1382	12	action	action	NOUN
cblr-13858	1382	13	requests	request	NOUN
cblr-13858	1382	14	in	in	ADP
cblr-13858	1382	15	this	this	DET
cblr-13858	1382	16	area	area	NOUN
cblr-13858	1382	17	that	that	SCONJ
cblr-13858	1382	18	it	it	PRON
cblr-13858	1382	19	no	no	ADV
cblr-13858	1382	20	longer	long	ADV
cblr-13858	1382	21	responds	respond	VERB
cblr-13858	1382	22	to	to	ADP
cblr-13858	1382	23	them	they	PRON
cblr-13858	1382	24	"	"	PUNCT
cblr-13858	1382	25	unless	unless	SCONJ
cblr-13858	1382	26	they	they	PRON
cblr-13858	1382	27	present	present	VERB
cblr-13858	1382	28	novel	novel	NOUN
cblr-13858	1382	29	or	or	CCONJ
cblr-13858	1382	30	unusual	unusual	ADJ
cblr-13858	1382	31	issues	issue	NOUN
cblr-13858	1382	32	.	.	PUNCT
cblr-13858	1383	1	"3	"3	NOUN
cblr-13858	1383	2	6	6	NUM
cblr-13858	1383	3	'	'	PUNCT
cblr-13858	1383	4	in	in	ADP
cblr-13858	1383	5	granting	grant	VERB
cblr-13858	1383	6	these	these	DET
cblr-13858	1383	7	requests	request	NOUN
cblr-13858	1383	8	,	,	PUNCT
cblr-13858	1383	9	the	the	DET
cblr-13858	1383	10	staff	staff	NOUN
cblr-13858	1383	11	has	have	AUX
cblr-13858	1383	12	emphasized	emphasize	VERB
cblr-13858	1383	13	a	a	DET
cblr-13858	1383	14	number	number	NOUN
cblr-13858	1383	15	of	of	ADP
cblr-13858	1383	16	features	feature	NOUN
cblr-13858	1383	17	of	of	ADP
cblr-13858	1383	18	these	these	DET
cblr-13858	1383	19	services	service	NOUN
cblr-13858	1383	20	without	without	ADP
cblr-13858	1383	21	358	358	NUM
cblr-13858	1384	1	i	i	PROPN
cblr-13858	1384	2	d.	d.	PROPN
cblr-13858	1384	3	.	.	PUNCT
cblr-13858	1385	1	see	see	VERB
cblr-13858	1385	2	angel	angel	NOUN
cblr-13858	1385	3	capital	capital	PROPN
cblr-13858	1385	4	elec	elec	PROPN
cblr-13858	1385	5	.	.	PUNCT
cblr-13858	1386	1	network	network	PROPN
cblr-13858	1386	2	,	,	PUNCT
cblr-13858	1386	3	sec	sec	PROPN
cblr-13858	1386	4	no	no	DET
cblr-13858	1386	5	-	-	PUNCT
cblr-13858	1386	6	action	action	NOUN
cblr-13858	1386	7	letter	letter	NOUN
cblr-13858	1386	8	,	,	PUNCT
cblr-13858	1386	9	1996	1996	NUM
cblr-13858	1386	10	wl	wl	ADP
cblr-13858	1386	11	636094	636094	NUM
cblr-13858	1386	12	,	,	PUNCT
cblr-13858	1386	13	at	at	ADP
cblr-13858	1386	14	*	*	NOUN
cblr-13858	1386	15	1	1	NUM
cblr-13858	1386	16	(	(	PUNCT
cblr-13858	1386	17	oct	oct	PROPN
cblr-13858	1386	18	.	.	PROPN
cblr-13858	1386	19	25	25	NUM
cblr-13858	1386	20	,	,	PUNCT
cblr-13858	1386	21	1996	1996	NUM
cblr-13858	1386	22	)	)	PUNCT
cblr-13858	1386	23	;	;	PUNCT
cblr-13858	1386	24	capital	capital	NOUN
cblr-13858	1386	25	res	re	NOUN
cblr-13858	1386	26	.	.	PUNCT
cblr-13858	1387	1	network	network	PROPN
cblr-13858	1387	2	,	,	PUNCT
cblr-13858	1387	3	sec	sec	PROPN
cblr-13858	1387	4	no	no	DET
cblr-13858	1387	5	-	-	PUNCT
cblr-13858	1387	6	action	action	NOUN
cblr-13858	1387	7	letter	letter	NOUN
cblr-13858	1387	8	,	,	PUNCT
cblr-13858	1387	9	1993	1993	NUM
cblr-13858	1387	10	wl	wl	NOUN
cblr-13858	1387	11	164600	164600	NUM
cblr-13858	1387	12	,	,	PUNCT
cblr-13858	1387	13	at	at	ADP
cblr-13858	1387	14	*	*	NOUN
cblr-13858	1387	15	1	1	NUM
cblr-13858	1387	16	(	(	PUNCT
cblr-13858	1387	17	apr	apr	PROPN
cblr-13858	1387	18	.	.	PROPN
cblr-13858	1387	19	23	23	NUM
cblr-13858	1387	20	,	,	PUNCT
cblr-13858	1387	21	1993	1993	NUM
cblr-13858	1387	22	)	)	PUNCT
cblr-13858	1387	23	;	;	PUNCT
cblr-13858	1388	1	tech	tech	NOUN
cblr-13858	1388	2	.	.	PUNCT
cblr-13858	1389	1	capital	capital	PROPN
cblr-13858	1389	2	network	network	PROPN
cblr-13858	1389	3	,	,	PUNCT
cblr-13858	1389	4	inc	inc	PROPN
cblr-13858	1389	5	.	.	PROPN
cblr-13858	1389	6	,	,	PUNCT
cblr-13858	1389	7	sec	sec	PROPN
cblr-13858	1389	8	no	no	DET
cblr-13858	1389	9	-	-	PUNCT
cblr-13858	1389	10	action	action	NOUN
cblr-13858	1389	11	letter	letter	NOUN
cblr-13858	1389	12	,	,	PUNCT
cblr-13858	1389	13	1992	1992	NUM
cblr-13858	1389	14	wl	wl	NOUN
cblr-13858	1389	15	175694	175694	NUM
cblr-13858	1389	16	,	,	PUNCT
cblr-13858	1389	17	at	at	ADP
cblr-13858	1389	18	*	*	NOUN
cblr-13858	1389	19	1	1	NUM
cblr-13858	1389	20	(	(	PUNCT
cblr-13858	1389	21	june	june	PROPN
cblr-13858	1389	22	5	5	NUM
cblr-13858	1389	23	,	,	PUNCT
cblr-13858	1389	24	1992	1992	NUM
cblr-13858	1389	25	)	)	PUNCT
cblr-13858	1389	26	;	;	PUNCT
cblr-13858	1389	27	heartland	heartland	NOUN
cblr-13858	1389	28	venture	venture	NOUN
cblr-13858	1389	29	capital	capital	PROPN
cblr-13858	1389	30	network	network	PROPN
cblr-13858	1389	31	,	,	PUNCT
cblr-13858	1389	32	inc	inc	PROPN
cblr-13858	1389	33	.	.	PROPN
cblr-13858	1389	34	,	,	PUNCT
cblr-13858	1389	35	sec	sec	PROPN
cblr-13858	1389	36	no	no	DET
cblr-13858	1389	37	-	-	PUNCT
cblr-13858	1389	38	action	action	NOUN
cblr-13858	1389	39	letter	letter	NOUN
cblr-13858	1389	40	,	,	PUNCT
cblr-13858	1389	41	1987	1987	NUM
cblr-13858	1389	42	wl	wl	NOUN
cblr-13858	1389	43	108286	108286	NUM
cblr-13858	1389	44	(	(	PUNCT
cblr-13858	1389	45	june	june	PROPN
cblr-13858	1389	46	7	7	NUM
cblr-13858	1389	47	,	,	PUNCT
cblr-13858	1389	48	1987	1987	NUM
cblr-13858	1389	49	)	)	PUNCT
cblr-13858	1389	50	;	;	PUNCT
cblr-13858	1389	51	venture	venture	NOUN
cblr-13858	1389	52	capital	capital	NOUN
cblr-13858	1389	53	network	network	NOUN
cblr-13858	1389	54	of	of	ADP
cblr-13858	1389	55	n.y	n.y	PROPN
cblr-13858	1389	56	.	.	PROPN
cblr-13858	1389	57	,	,	PUNCT
cblr-13858	1389	58	inc	inc	PROPN
cblr-13858	1389	59	.	.	PROPN
cblr-13858	1389	60	,	,	PUNCT
cblr-13858	1389	61	sec	sec	PROPN
cblr-13858	1389	62	noaction	noaction	NOUN
cblr-13858	1389	63	letter	letter	NOUN
cblr-13858	1389	64	,	,	PUNCT
cblr-13858	1389	65	1986	1986	NUM
cblr-13858	1389	66	wl	wl	NOUN
cblr-13858	1389	67	67371	67371	NUM
cblr-13858	1389	68	,	,	PUNCT
cblr-13858	1389	69	at	at	ADP
cblr-13858	1389	70	*	*	NOUN
cblr-13858	1389	71	1	1	NUM
cblr-13858	1389	72	(	(	PUNCT
cblr-13858	1389	73	nov	nov	PROPN
cblr-13858	1389	74	.	.	PROPN
cblr-13858	1389	75	10	10	NUM
cblr-13858	1389	76	,	,	PUNCT
cblr-13858	1389	77	1986	1986	NUM
cblr-13858	1389	78	)	)	PUNCT
cblr-13858	1389	79	;	;	PUNCT
cblr-13858	1389	80	univ	univ	PROPN
cblr-13858	1389	81	.	.	PROPN
cblr-13858	1389	82	of	of	ADP
cblr-13858	1389	83	ark	ark	PROPN
cblr-13858	1389	84	.	.	PROPN
cblr-13858	1389	85	,	,	PUNCT
cblr-13858	1389	86	sec	sec	PROPN
cblr-13858	1389	87	no	no	DET
cblr-13858	1389	88	-	-	PUNCT
cblr-13858	1389	89	action	action	NOUN
cblr-13858	1389	90	letter	letter	NOUN
cblr-13858	1389	91	,	,	PUNCT
cblr-13858	1389	92	1986	1986	NUM
cblr-13858	1389	93	wl	wl	NOUN
cblr-13858	1389	94	67354	67354	NUM
cblr-13858	1389	95	,	,	PUNCT
cblr-13858	1389	96	at	at	ADP
cblr-13858	1389	97	*	*	NOUN
cblr-13858	1389	98	1	1	NUM
cblr-13858	1389	99	(	(	PUNCT
cblr-13858	1389	100	oct	oct	PROPN
cblr-13858	1389	101	.	.	PROPN
cblr-13858	1389	102	27	27	NUM
cblr-13858	1389	103	,	,	PUNCT
cblr-13858	1389	104	1986	1986	NUM
cblr-13858	1389	105	)	)	PUNCT
cblr-13858	1389	106	;	;	PUNCT
cblr-13858	1389	107	inv	inv	VERB
cblr-13858	1389	108	.	.	PUNCT
cblr-13858	1390	1	contacts	contact	NOUN
cblr-13858	1390	2	network	network	NOUN
cblr-13858	1390	3	,	,	PUNCT
cblr-13858	1390	4	sec	sec	PROPN
cblr-13858	1390	5	no	no	DET
cblr-13858	1390	6	-	-	PUNCT
cblr-13858	1390	7	action	action	NOUN
cblr-13858	1390	8	letter	letter	NOUN
cblr-13858	1390	9	,	,	PUNCT
cblr-13858	1390	10	1986	1986	NUM
cblr-13858	1390	11	wl	wl	SYM
cblr-13858	1390	12	68350	68350	NUM
cblr-13858	1390	13	(	(	PUNCT
cblr-13858	1390	14	sept	sept	PROPN
cblr-13858	1390	15	.	.	PROPN
cblr-13858	1390	16	24	24	NUM
cblr-13858	1390	17	,	,	PUNCT
cblr-13858	1390	18	1986	1986	NUM
cblr-13858	1390	19	)	)	PUNCT
cblr-13858	1390	20	;	;	PUNCT
cblr-13858	1390	21	venture	venture	NOUN
cblr-13858	1390	22	capital	capital	PROPN
cblr-13858	1390	23	exch	exch	PROPN
cblr-13858	1390	24	.	.	PROPN
cblr-13858	1390	25	,	,	PUNCT
cblr-13858	1390	26	inc	inc	PROPN
cblr-13858	1390	27	.	.	PROPN
cblr-13858	1390	28	,	,	PUNCT
cblr-13858	1390	29	sec	sec	PROPN
cblr-13858	1390	30	no	no	DET
cblr-13858	1390	31	-	-	PUNCT
cblr-13858	1390	32	action	action	NOUN
cblr-13858	1390	33	letter	letter	NOUN
cblr-13858	1390	34	,	,	PUNCT
cblr-13858	1390	35	1986	1986	NUM
cblr-13858	1390	36	wl	wl	PROPN
cblr-13858	1390	37	66613	66613	NUM
cblr-13858	1390	38	,	,	PUNCT
cblr-13858	1390	39	at	at	ADP
cblr-13858	1390	40	*	*	NOUN
cblr-13858	1390	41	1	1	NUM
cblr-13858	1390	42	(	(	PUNCT
cblr-13858	1390	43	mar	mar	PROPN
cblr-13858	1390	44	.	.	PROPN
cblr-13858	1390	45	24	24	NUM
cblr-13858	1390	46	,	,	PUNCT
cblr-13858	1390	47	1986	1986	NUM
cblr-13858	1390	48	)	)	PUNCT
cblr-13858	1390	49	;	;	PUNCT
cblr-13858	1390	50	indep	indep	NOUN
cblr-13858	1390	51	.	.	PUNCT
cblr-13858	1391	1	inst	inst	PROPN
cblr-13858	1391	2	.	.	PROPN
cblr-13858	1391	3	for	for	ADP
cblr-13858	1391	4	n.y	n.y	PROPN
cblr-13858	1391	5	.	.	PROPN
cblr-13858	1391	6	bus	bus	PROPN
cblr-13858	1391	7	.	.	PUNCT
cblr-13858	1392	1	ventures	ventures	PROPN
cblr-13858	1392	2	,	,	PUNCT
cblr-13858	1392	3	inc	inc	PROPN
cblr-13858	1392	4	.	.	PROPN
cblr-13858	1392	5	,	,	PUNCT
cblr-13858	1392	6	sec	sec	PROPN
cblr-13858	1392	7	no	no	DET
cblr-13858	1392	8	-	-	PUNCT
cblr-13858	1392	9	action	action	NOUN
cblr-13858	1392	10	letter	letter	NOUN
cblr-13858	1392	11	,	,	PUNCT
cblr-13858	1392	12	1986	1986	NUM
cblr-13858	1392	13	wl	wl	NOUN
cblr-13858	1392	14	65138	65138	NUM
cblr-13858	1392	15	,	,	PUNCT
cblr-13858	1392	16	at	at	ADP
cblr-13858	1392	17	*	*	NOUN
cblr-13858	1392	18	1	1	NUM
cblr-13858	1392	19	(	(	PUNCT
cblr-13858	1392	20	jan	jan	PROPN
cblr-13858	1392	21	.	.	PROPN
cblr-13858	1392	22	10	10	NUM
cblr-13858	1392	23	,	,	PUNCT
cblr-13858	1392	24	1986	1986	NUM
cblr-13858	1392	25	)	)	PUNCT
cblr-13858	1392	26	;	;	PUNCT
cblr-13858	1392	27	venture	venture	NOUN
cblr-13858	1392	28	capital	capital	NOUN
cblr-13858	1392	29	res	re	NOUN
cblr-13858	1392	30	.	.	PROPN
cblr-13858	1392	31	,	,	PUNCT
cblr-13858	1392	32	inc	inc	PROPN
cblr-13858	1392	33	.	.	PROPN
cblr-13858	1392	34	,	,	PUNCT
cblr-13858	1392	35	sec	sec	PROPN
cblr-13858	1392	36	noaction	noaction	NOUN
cblr-13858	1392	37	letter	letter	NOUN
cblr-13858	1392	38	,	,	PUNCT
cblr-13858	1392	39	1985	1985	NUM
cblr-13858	1392	40	wl	wl	NOUN
cblr-13858	1392	41	55644	55644	NUM
cblr-13858	1392	42	,	,	PUNCT
cblr-13858	1392	43	at	at	ADP
cblr-13858	1392	44	*	*	NOUN
cblr-13858	1392	45	1	1	NUM
cblr-13858	1392	46	(	(	PUNCT
cblr-13858	1392	47	nov	nov	PROPN
cblr-13858	1392	48	.	.	PROPN
cblr-13858	1392	49	25	25	NUM
cblr-13858	1392	50	,	,	PUNCT
cblr-13858	1392	51	1985	1985	NUM
cblr-13858	1392	52	)	)	PUNCT
cblr-13858	1392	53	;	;	PUNCT
cblr-13858	1392	54	venture	venture	NOUN
cblr-13858	1392	55	capital	capital	NOUN
cblr-13858	1392	56	network	network	PROPN
cblr-13858	1392	57	,	,	PUNCT
cblr-13858	1392	58	inc	inc	PROPN
cblr-13858	1392	59	.	.	PROPN
cblr-13858	1392	60	,	,	PUNCT
cblr-13858	1392	61	sec	sec	PROPN
cblr-13858	1392	62	no	no	DET
cblr-13858	1392	63	-	-	PUNCT
cblr-13858	1392	64	action	action	NOUN
cblr-13858	1392	65	letter	letter	NOUN
cblr-13858	1392	66	,	,	PUNCT
cblr-13858	1392	67	1984	1984	NUM
cblr-13858	1392	68	wl	wl	NOUN
cblr-13858	1392	69	45334	45334	NUM
cblr-13858	1392	70	,	,	PUNCT
cblr-13858	1392	71	at	at	ADP
cblr-13858	1392	72	*	*	NOUN
cblr-13858	1392	73	1	1	NUM
cblr-13858	1392	74	(	(	PUNCT
cblr-13858	1392	75	may	may	PROPN
cblr-13858	1392	76	7	7	NUM
cblr-13858	1392	77	,	,	PUNCT
cblr-13858	1392	78	1984	1984	NUM
cblr-13858	1392	79	)	)	PUNCT
cblr-13858	1392	80	.	.	PUNCT
cblr-13858	1393	1	360	360	NUM
cblr-13858	1393	2	see	see	VERB
cblr-13858	1393	3	mo	mo	PROPN
cblr-13858	1393	4	.	.	PROPN
cblr-13858	1393	5	innovation	innovation	PROPN
cblr-13858	1393	6	ctr	ctr	PROPN
cblr-13858	1393	7	.	.	PROPN
cblr-13858	1393	8	,	,	PUNCT
cblr-13858	1393	9	inc	inc	PROPN
cblr-13858	1393	10	.	.	PROPN
cblr-13858	1393	11	,	,	PUNCT
cblr-13858	1393	12	sec	sec	PROPN
cblr-13858	1393	13	no	no	DET
cblr-13858	1393	14	-	-	PUNCT
cblr-13858	1393	15	action	action	NOUN
cblr-13858	1393	16	letter	letter	NOUN
cblr-13858	1393	17	,	,	PUNCT
cblr-13858	1393	18	1995	1995	NUM
cblr-13858	1393	19	wl	wl	NOUN
cblr-13858	1393	20	643949	643949	NUM
cblr-13858	1393	21	,	,	PUNCT
cblr-13858	1393	22	at	at	ADP
cblr-13858	1393	23	*	*	PROPN
cblr-13858	1393	24	2	2	NUM
cblr-13858	1393	25	(	(	PUNCT
cblr-13858	1393	26	oct	oct	PROPN
cblr-13858	1393	27	.	.	PROPN
cblr-13858	1393	28	17	17	NUM
cblr-13858	1393	29	,	,	PUNCT
cblr-13858	1393	30	1995	1995	NUM
cblr-13858	1393	31	)	)	PUNCT
cblr-13858	1393	32	;	;	PUNCT
cblr-13858	1393	33	investex	investex	NOUN
cblr-13858	1393	34	inv	inv	PROPN
cblr-13858	1393	35	.	.	PUNCT
cblr-13858	1394	1	exch	exch	PROPN
cblr-13858	1394	2	.	.	PROPN
cblr-13858	1394	3	inc	inc	PROPN
cblr-13858	1394	4	.	.	PROPN
cblr-13858	1394	5	,	,	PUNCT
cblr-13858	1394	6	sec	sec	PROPN
cblr-13858	1394	7	no	no	DET
cblr-13858	1394	8	-	-	PUNCT
cblr-13858	1394	9	action	action	NOUN
cblr-13858	1394	10	letter	letter	NOUN
cblr-13858	1394	11	,	,	PUNCT
cblr-13858	1394	12	1990	1990	NUM
cblr-13858	1394	13	wl	wl	NOUN
cblr-13858	1394	14	286331	286331	NUM
cblr-13858	1394	15	,	,	PUNCT
cblr-13858	1394	16	at	at	ADP
cblr-13858	1394	17	*	*	NOUN
cblr-13858	1394	18	1	1	NUM
cblr-13858	1394	19	(	(	PUNCT
cblr-13858	1394	20	apr	apr	NOUN
cblr-13858	1394	21	.	.	PROPN
cblr-13858	1394	22	9	9	NUM
cblr-13858	1394	23	,	,	PUNCT
cblr-13858	1394	24	1990	1990	NUM
cblr-13858	1394	25	)	)	PUNCT
cblr-13858	1394	26	;	;	PUNCT
cblr-13858	1394	27	petroleum	petroleum	NOUN
cblr-13858	1394	28	info	info	NOUN
cblr-13858	1394	29	.	.	PUNCT
cblr-13858	1395	1	corp	corp	PROPN
cblr-13858	1395	2	.	.	PROPN
cblr-13858	1395	3	,	,	PUNCT
cblr-13858	1395	4	sec	sec	PROPN
cblr-13858	1395	5	no	no	DET
cblr-13858	1395	6	-	-	PUNCT
cblr-13858	1395	7	action	action	NOUN
cblr-13858	1395	8	letter	letter	NOUN
cblr-13858	1395	9	,	,	PUNCT
cblr-13858	1395	10	1989	1989	NUM
cblr-13858	1395	11	wl	wl	NOUN
cblr-13858	1395	12	246625	246625	NUM
cblr-13858	1395	13	,	,	PUNCT
cblr-13858	1395	14	at	at	ADP
cblr-13858	1395	15	*	*	NOUN
cblr-13858	1395	16	1	1	NUM
cblr-13858	1395	17	(	(	PUNCT
cblr-13858	1395	18	nov	nov	PROPN
cblr-13858	1395	19	.	.	PROPN
cblr-13858	1395	20	28	28	NUM
cblr-13858	1395	21	,	,	PUNCT
cblr-13858	1395	22	1989	1989	NUM
cblr-13858	1395	23	)	)	PUNCT
cblr-13858	1395	24	;	;	PUNCT
cblr-13858	1395	25	richmond	richmond	PROPN
cblr-13858	1395	26	venture	venture	NOUN
cblr-13858	1395	27	capital	capital	PROPN
cblr-13858	1395	28	network	network	PROPN
cblr-13858	1395	29	,	,	PUNCT
cblr-13858	1395	30	inc	inc	PROPN
cblr-13858	1395	31	.	.	PROPN
cblr-13858	1395	32	,	,	PUNCT
cblr-13858	1395	33	sec	sec	PROPN
cblr-13858	1395	34	no	no	DET
cblr-13858	1395	35	-	-	PUNCT
cblr-13858	1395	36	action	action	NOUN
cblr-13858	1395	37	letter	letter	NOUN
cblr-13858	1395	38	,	,	PUNCT
cblr-13858	1395	39	1989	1989	NUM
cblr-13858	1395	40	wl	wl	NOUN
cblr-13858	1395	41	246296	246296	NUM
cblr-13858	1395	42	,	,	PUNCT
cblr-13858	1395	43	at	at	ADP
cblr-13858	1395	44	*	*	NOUN
cblr-13858	1395	45	2	2	NUM
cblr-13858	1395	46	(	(	PUNCT
cblr-13858	1395	47	may	may	PROPN
cblr-13858	1395	48	12	12	NUM
cblr-13858	1395	49	,	,	PUNCT
cblr-13858	1395	50	1989	1989	NUM
cblr-13858	1395	51	)	)	PUNCT
cblr-13858	1395	52	.	.	PUNCT
cblr-13858	1396	1	361	361	NUM
cblr-13858	1396	2	see	see	VERB
cblr-13858	1396	3	envtl	envtl	NOUN
cblr-13858	1396	4	.	.	PUNCT
cblr-13858	1397	1	capital	capital	NOUN
cblr-13858	1397	2	network	network	PROPN
cblr-13858	1397	3	,	,	PUNCT
cblr-13858	1397	4	sec	sec	PROPN
cblr-13858	1397	5	no	no	DET
cblr-13858	1397	6	-	-	PUNCT
cblr-13858	1397	7	action	action	NOUN
cblr-13858	1397	8	letter	letter	NOUN
cblr-13858	1397	9	,	,	PUNCT
cblr-13858	1397	10	1995	1995	NUM
cblr-13858	1397	11	lexis	lexis	NOUN
cblr-13858	1397	12	1030	1030	NUM
cblr-13858	1397	13	,	,	PUNCT
cblr-13858	1397	14	at	at	ADP
cblr-13858	1397	15	*	*	NOUN
cblr-13858	1397	16	8	8	NUM
cblr-13858	1397	17	(	(	PUNCT
cblr-13858	1397	18	dec	dec	PROPN
cblr-13858	1397	19	.	.	PROPN
cblr-13858	1397	20	28	28	NUM
cblr-13858	1397	21	,	,	PUNCT
cblr-13858	1397	22	1995	1995	NUM
cblr-13858	1397	23	)	)	PUNCT
cblr-13858	1397	24	;	;	PUNCT
cblr-13858	1398	1	colo	colo	PROPN
cblr-13858	1398	2	.	.	PUNCT
cblr-13858	1399	1	capital	capital	PROPN
cblr-13858	1399	2	alliance	alliance	PROPN
cblr-13858	1399	3	,	,	PUNCT
cblr-13858	1399	4	inc	inc	PROPN
cblr-13858	1399	5	.	.	PROPN
cblr-13858	1399	6	,	,	PUNCT
cblr-13858	1399	7	1995	1995	NUM
cblr-13858	1399	8	wl	wl	NOUN
cblr-13858	1399	9	271123	271123	NUM
cblr-13858	1399	10	,	,	PUNCT
cblr-13858	1399	11	at	at	ADP
cblr-13858	1399	12	*	*	NOUN
cblr-13858	1399	13	2	2	NUM
cblr-13858	1399	14	(	(	PUNCT
cblr-13858	1399	15	may	may	PROPN
cblr-13858	1399	16	4	4	NUM
cblr-13858	1399	17	,	,	PUNCT
cblr-13858	1399	18	1995	1995	NUM
cblr-13858	1399	19	)	)	PUNCT
cblr-13858	1399	20	;	;	PUNCT
cblr-13858	1399	21	mo	mo	PROPN
cblr-13858	1399	22	.	.	PROPN
cblr-13858	1399	23	innovation	innovation	PROPN
cblr-13858	1399	24	ctr	ctr	PROPN
cblr-13858	1399	25	.	.	PROPN
cblr-13858	1399	26	,	,	PUNCT
cblr-13858	1399	27	inc	inc	PROPN
cblr-13858	1399	28	.	.	PROPN
cblr-13858	1399	29	,	,	PUNCT
cblr-13858	1399	30	sec	sec	PROPN
cblr-13858	1399	31	no	no	DET
cblr-13858	1399	32	-	-	PUNCT
cblr-13858	1399	33	action	action	NOUN
cblr-13858	1399	34	letter	letter	NOUN
cblr-13858	1399	35	,	,	PUNCT
cblr-13858	1399	36	1995	1995	NUM
cblr-13858	1399	37	wl	wl	NOUN
cblr-13858	1399	38	643949	643949	NUM
cblr-13858	1399	39	,	,	PUNCT
cblr-13858	1399	40	at	at	ADP
cblr-13858	1399	41	*	*	NUM
cblr-13858	1399	42	4	4	NUM
cblr-13858	1399	43	(	(	PUNCT
cblr-13858	1399	44	oct	oct	PROPN
cblr-13858	1399	45	.	.	PROPN
cblr-13858	1399	46	17	17	NUM
cblr-13858	1399	47	,	,	PUNCT
cblr-13858	1399	48	1995	1995	NUM
cblr-13858	1399	49	)	)	PUNCT
cblr-13858	1399	50	;	;	PUNCT
cblr-13858	1399	51	capital	capital	NOUN
cblr-13858	1399	52	res	re	NOUN
cblr-13858	1399	53	.	.	PUNCT
cblr-13858	1399	54	network	network	PROPN
cblr-13858	1399	55	,	,	PUNCT
cblr-13858	1399	56	sec	sec	PROPN
cblr-13858	1399	57	no	no	DET
cblr-13858	1399	58	-	-	PUNCT
cblr-13858	1399	59	action	action	NOUN
cblr-13858	1399	60	letter	letter	NOUN
cblr-13858	1399	61	,	,	PUNCT
cblr-13858	1399	62	1993	1993	NUM
cblr-13858	1399	63	wl	wl	NOUN
cblr-13858	1399	64	164600	164600	NUM
cblr-13858	1399	65	,	,	PUNCT
cblr-13858	1399	66	at	at	ADP
cblr-13858	1399	67	*	*	NOUN
cblr-13858	1399	68	5	5	NUM
cblr-13858	1399	69	(	(	PUNCT
cblr-13858	1399	70	apr	apr	NOUN
cblr-13858	1399	71	.	.	PROPN
cblr-13858	1399	72	23	23	NUM
cblr-13858	1399	73	,	,	PUNCT
cblr-13858	1399	74	1993	1993	NUM
cblr-13858	1399	75	)	)	PUNCT
cblr-13858	1399	76	.	.	PUNCT
cblr-13858	1400	1	cro0wdfunding	cro0wdfunde	VERB
cblr-13858	1400	2	and	and	CCONJ
cblr-13858	1400	3	securities	security	NOUN
cblr-13858	1400	4	la	la	PRON
cblr-13858	1400	5	ws	ws	PROPN
cblr-13858	1400	6	73no	73no	NUM
cblr-13858	1400	7	.	.	PUNCT
cblr-13858	1401	1	1:1]1	1:1]1	NUM
cblr-13858	1401	2	explaining	explain	VERB
cblr-13858	1401	3	why	why	SCONJ
cblr-13858	1401	4	those	those	PRON
cblr-13858	1401	5	particular	particular	ADJ
cblr-13858	1401	6	features	feature	VERB
cblr-13858	1401	7	matter.3	matter.3	NOUN
cblr-13858	1401	8	62	62	NUM
cblr-13858	1401	9	those	those	DET
cblr-13858	1401	10	features	feature	NOUN
cblr-13858	1401	11	include	include	VERB
cblr-13858	1401	12	the	the	DET
cblr-13858	1401	13	following	follow	VERB
cblr-13858	1401	14	:	:	PUNCT
cblr-13858	1401	15	(	(	PUNCT
cblr-13858	1401	16	1	1	X
cblr-13858	1401	17	)	)	PUNCT
cblr-13858	1401	18	the	the	DET
cblr-13858	1401	19	network	network	NOUN
cblr-13858	1401	20	is	be	AUX
cblr-13858	1401	21	operated	operate	VERB
cblr-13858	1401	22	by	by	ADP
cblr-13858	1401	23	a	a	DET
cblr-13858	1401	24	non	non	ADJ
cblr-13858	1401	25	-	-	ADJ
cblr-13858	1401	26	profit	profit	ADJ
cblr-13858	1401	27	organization	organization	NOUN
cblr-13858	1401	28	.	.	PUNCT
cblr-13858	1402	1	36	36	NUM
cblr-13858	1402	2	3	3	NUM
cblr-13858	1402	3	(	(	PUNCT
cblr-13858	1402	4	2	2	NUM
cblr-13858	1402	5	)	)	PUNCT
cblr-13858	1402	6	the	the	DET
cblr-13858	1402	7	network	network	NOUN
cblr-13858	1402	8	does	do	AUX
cblr-13858	1402	9	not	not	PART
cblr-13858	1402	10	give	give	VERB
cblr-13858	1402	11	any	any	DET
cblr-13858	1402	12	advice	advice	NOUN
cblr-13858	1402	13	on	on	ADP
cblr-13858	1402	14	the	the	DET
cblr-13858	1402	15	merits	merit	NOUN
cblr-13858	1402	16	or	or	CCONJ
cblr-13858	1402	17	shortcomings	shortcoming	NOUN
cblr-13858	1402	18	of	of	ADP
cblr-13858	1402	19	particular	particular	ADJ
cblr-13858	1402	20	investments3	investments3	NOUN
cblr-13858	1402	21	"	"	PUNCT
cblr-13858	1402	22	and	and	CCONJ
cblr-13858	1402	23	does	do	AUX
cblr-13858	1402	24	not	not	PART
cblr-13858	1402	25	otherwise	otherwise	ADV
cblr-13858	1402	26	endorse	endorse	VERB
cblr-13858	1402	27	,	,	PUNCT
cblr-13858	1402	28	analyze	analyze	VERB
cblr-13858	1402	29	,	,	PUNCT
cblr-13858	1402	30	or	or	CCONJ
cblr-13858	1402	31	recommend	recommend	VERB
cblr-13858	1402	32	the	the	DET
cblr-13858	1402	33	listed	list	VERB
cblr-13858	1402	34	investment	investment	NOUN
cblr-13858	1402	35	opportunities.365	opportunities.365	NOUN
cblr-13858	1402	36	(	(	PUNCT
cblr-13858	1402	37	3	3	X
cblr-13858	1402	38	)	)	PUNCT
cblr-13858	1402	39	the	the	DET
cblr-13858	1402	40	network	network	NOUN
cblr-13858	1402	41	receives	receive	VERB
cblr-13858	1402	42	only	only	ADV
cblr-13858	1402	43	a	a	DET
cblr-13858	1402	44	small	small	ADJ
cblr-13858	1402	45	application	application	NOUN
cblr-13858	1402	46	fee	fee	NOUN
cblr-13858	1402	47	,	,	PUNCT
cblr-13858	1402	48	typically	typically	ADV
cblr-13858	1402	49	used	use	VERB
cblr-13858	1402	50	to	to	PART
cblr-13858	1402	51	offset	offset	VERB
cblr-13858	1402	52	administrative	administrative	ADJ
cblr-13858	1402	53	costs	cost	NOUN
cblr-13858	1402	54	,	,	PUNCT
cblr-13858	1402	55	m6	m6	ADJ
cblr-13858	1402	56	and	and	CCONJ
cblr-13858	1402	57	no	no	DET
cblr-13858	1402	58	employees	employee	NOUN
cblr-13858	1402	59	of	of	ADP
cblr-13858	1402	60	the	the	DET
cblr-13858	1402	61	network	network	NOUN
cblr-13858	1402	62	will	will	AUX
cblr-13858	1402	63	receive	receive	VERB
cblr-13858	1402	64	any	any	DET
cblr-13858	1402	65	compensation	compensation	NOUN
cblr-13858	1402	66	based	base	VERB
cblr-13858	1402	67	on	on	ADP
cblr-13858	1402	68	the	the	DET
cblr-13858	1402	69	outcome	outcome	NOUN
cblr-13858	1402	70	of	of	ADP
cblr-13858	1402	71	investment	investment	NOUN
cblr-13858	1402	72	transactions	transaction	NOUN
cblr-13858	1402	73	.	.	PUNCT
cblr-13858	1403	1	367	367	NUM
cblr-13858	1403	2	(	(	PUNCT
cblr-13858	1403	3	4	4	X
cblr-13858	1403	4	)	)	PUNCT
cblr-13858	1403	5	the	the	DET
cblr-13858	1403	6	network	network	NOUN
cblr-13858	1403	7	is	be	AUX
cblr-13858	1403	8	not	not	PART
cblr-13858	1403	9	involved	involve	VERB
cblr-13858	1403	10	in	in	ADP
cblr-13858	1403	11	negotiating	negotiate	VERB
cblr-13858	1403	12	any	any	DET
cblr-13858	1403	13	purchase	purchase	NOUN
cblr-13858	1403	14	or	or	CCONJ
cblr-13858	1403	15	sale-	sale-	NOUN
cblr-13858	1403	16	*	*	PUNCT
cblr-13858	1403	17	and	and	CCONJ
cblr-13858	1403	18	will	will	AUX
cblr-13858	1403	19	not	not	PART
cblr-13858	1403	20	provide	provide	VERB
cblr-13858	1403	21	any	any	DET
cblr-13858	1403	22	362	362	NUM
cblr-13858	1403	23	almost	almost	ADV
cblr-13858	1403	24	all	all	PRON
cblr-13858	1403	25	of	of	ADP
cblr-13858	1403	26	the	the	DET
cblr-13858	1403	27	letters	letter	NOUN
cblr-13858	1403	28	share	share	VERB
cblr-13858	1403	29	these	these	DET
cblr-13858	1403	30	common	common	ADJ
cblr-13858	1403	31	features	feature	NOUN
cblr-13858	1403	32	.	.	PUNCT
cblr-13858	1404	1	the	the	DET
cblr-13858	1404	2	following	follow	VERB
cblr-13858	1404	3	notes	note	NOUN
cblr-13858	1404	4	cite	cite	VERB
cblr-13858	1404	5	letters	letter	NOUN
cblr-13858	1404	6	in	in	ADP
cblr-13858	1404	7	which	which	PRON
cblr-13858	1404	8	the	the	DET
cblr-13858	1404	9	staff	staff	NOUN
cblr-13858	1404	10	expressly	expressly	ADV
cblr-13858	1404	11	noted	note	VERB
cblr-13858	1404	12	the	the	DET
cblr-13858	1404	13	feature	feature	NOUN
cblr-13858	1404	14	in	in	ADP
cblr-13858	1404	15	granting	grant	VERB
cblr-13858	1404	16	relief	relief	NOUN
cblr-13858	1404	17	.	.	PUNCT
cblr-13858	1404	18	"	"	PUNCT
cblr-13858	1405	1	capital	capital	NOUN
cblr-13858	1405	2	res	re	NOUN
cblr-13858	1405	3	.	.	PUNCT
cblr-13858	1406	1	network	network	PROPN
cblr-13858	1406	2	,	,	PUNCT
cblr-13858	1406	3	sec	sec	PROPN
cblr-13858	1406	4	no	no	DET
cblr-13858	1406	5	-	-	PUNCT
cblr-13858	1406	6	action	action	NOUN
cblr-13858	1406	7	letter	letter	NOUN
cblr-13858	1406	8	,	,	PUNCT
cblr-13858	1406	9	1993	1993	NUM
cblr-13858	1406	10	wl	wl	NOUN
cblr-13858	1406	11	164600	164600	NUM
cblr-13858	1406	12	,	,	PUNCT
cblr-13858	1406	13	at	at	ADP
cblr-13858	1406	14	*	*	NOUN
cblr-13858	1406	15	1	1	NUM
cblr-13858	1406	16	(	(	PUNCT
cblr-13858	1406	17	apr	apr	PROPN
cblr-13858	1406	18	.	.	PROPN
cblr-13858	1406	19	23	23	NUM
cblr-13858	1406	20	,	,	PUNCT
cblr-13858	1406	21	1993	1993	NUM
cblr-13858	1406	22	)	)	PUNCT
cblr-13858	1406	23	;	;	PUNCT
cblr-13858	1406	24	venture	venture	NOUN
cblr-13858	1406	25	capital	capital	PROPN
cblr-13858	1406	26	exch	exch	PROPN
cblr-13858	1406	27	.	.	PROPN
cblr-13858	1406	28	,	,	PUNCT
cblr-13858	1406	29	inc	inc	PROPN
cblr-13858	1406	30	.	.	PROPN
cblr-13858	1406	31	,	,	PUNCT
cblr-13858	1406	32	sec	sec	PROPN
cblr-13858	1406	33	no	no	DET
cblr-13858	1406	34	-	-	PUNCT
cblr-13858	1406	35	action	action	NOUN
cblr-13858	1406	36	letter	letter	NOUN
cblr-13858	1406	37	,	,	PUNCT
cblr-13858	1406	38	1986	1986	NUM
cblr-13858	1406	39	wl	wl	PROPN
cblr-13858	1406	40	66613	66613	NUM
cblr-13858	1406	41	,	,	PUNCT
cblr-13858	1406	42	at	at	ADP
cblr-13858	1406	43	*	*	NOUN
cblr-13858	1406	44	1	1	NUM
cblr-13858	1406	45	(	(	PUNCT
cblr-13858	1406	46	apr	apr	PROPN
cblr-13858	1406	47	.	.	PROPN
cblr-13858	1406	48	23	23	NUM
cblr-13858	1406	49	,	,	PUNCT
cblr-13858	1406	50	1986	1986	NUM
cblr-13858	1406	51	)	)	PUNCT
cblr-13858	1406	52	.	.	PUNCT
cblr-13858	1407	1	but	but	CCONJ
cblr-13858	1407	2	see	see	VERB
cblr-13858	1407	3	tech	tech	NOUN
cblr-13858	1407	4	.	.	PUNCT
cblr-13858	1408	1	capital	capital	NOUN
cblr-13858	1408	2	network	network	PROPN
cblr-13858	1408	3	,	,	PUNCT
cblr-13858	1408	4	inc	inc	PROPN
cblr-13858	1408	5	.	.	PROPN
cblr-13858	1408	6	,	,	PUNCT
cblr-13858	1408	7	sec	sec	PROPN
cblr-13858	1408	8	no	no	DET
cblr-13858	1408	9	-	-	PUNCT
cblr-13858	1408	10	action	action	NOUN
cblr-13858	1408	11	letter	letter	NOUN
cblr-13858	1408	12	,	,	PUNCT
cblr-13858	1408	13	1992	1992	NUM
cblr-13858	1408	14	wl	wl	NOUN
cblr-13858	1408	15	175694	175694	NUM
cblr-13858	1408	16	,	,	PUNCT
cblr-13858	1408	17	at	at	ADP
cblr-13858	1408	18	*	*	PROPN
cblr-13858	1408	19	8	8	NUM
cblr-13858	1408	20	n.2	n.2	SYM
cblr-13858	1408	21	(	(	PUNCT
cblr-13858	1408	22	june	june	PROPN
cblr-13858	1408	23	5	5	NUM
cblr-13858	1408	24	,	,	PUNCT
cblr-13858	1408	25	1992	1992	NUM
cblr-13858	1408	26	)	)	PUNCT
cblr-13858	1408	27	(	(	PUNCT
cblr-13858	1408	28	nonprofit	nonprofit	ADJ
cblr-13858	1408	29	status	status	NOUN
cblr-13858	1408	30	"	"	PUNCT
cblr-13858	1408	31	is	be	AUX
cblr-13858	1408	32	not	not	PART
cblr-13858	1408	33	solely	solely	ADV
cblr-13858	1408	34	determinative	determinative	ADJ
cblr-13858	1408	35	"	"	PUNCT
cblr-13858	1408	36	of	of	ADP
cblr-13858	1408	37	whether	whether	SCONJ
cblr-13858	1408	38	a	a	DET
cblr-13858	1408	39	company	company	NOUN
cblr-13858	1408	40	is	be	AUX
cblr-13858	1408	41	an	an	DET
cblr-13858	1408	42	investment	investment	NOUN
cblr-13858	1408	43	adviser	adviser	NOUN
cblr-13858	1408	44	)	)	PUNCT
cblr-13858	1408	45	.	.	PUNCT
cblr-13858	1408	46	'	'	PUNCT
cblr-13858	1409	1	angel	angel	NOUN
cblr-13858	1409	2	capital	capital	PROPN
cblr-13858	1409	3	elec	elec	PROPN
cblr-13858	1409	4	.	.	PUNCT
cblr-13858	1409	5	network	network	PROPN
cblr-13858	1409	6	,	,	PUNCT
cblr-13858	1409	7	sec	sec	PROPN
cblr-13858	1409	8	no	no	DET
cblr-13858	1409	9	-	-	PUNCT
cblr-13858	1409	10	action	action	NOUN
cblr-13858	1409	11	letter	letter	NOUN
cblr-13858	1409	12	,	,	PUNCT
cblr-13858	1409	13	1996	1996	NUM
cblr-13858	1409	14	wl	wl	ADP
cblr-13858	1409	15	636094	636094	NUM
cblr-13858	1409	16	,	,	PUNCT
cblr-13858	1409	17	at	at	ADP
cblr-13858	1409	18	*	*	NOUN
cblr-13858	1409	19	1	1	NUM
cblr-13858	1409	20	(	(	PUNCT
cblr-13858	1409	21	oct	oct	PROPN
cblr-13858	1409	22	.	.	PROPN
cblr-13858	1409	23	25	25	NUM
cblr-13858	1409	24	,	,	PUNCT
cblr-13858	1409	25	1996	1996	NUM
cblr-13858	1409	26	)	)	PUNCT
cblr-13858	1409	27	;	;	PUNCT
cblr-13858	1409	28	venture	venture	NOUN
cblr-13858	1409	29	capital	capital	PROPN
cblr-13858	1409	30	exch	exch	PROPN
cblr-13858	1409	31	.	.	PROPN
cblr-13858	1409	32	,	,	PUNCT
cblr-13858	1409	33	inc	inc	PROPN
cblr-13858	1409	34	.	.	PROPN
cblr-13858	1409	35	,	,	PUNCT
cblr-13858	1409	36	sec	sec	PROPN
cblr-13858	1409	37	no	no	DET
cblr-13858	1409	38	-	-	PUNCT
cblr-13858	1409	39	action	action	NOUN
cblr-13858	1409	40	letter	letter	NOUN
cblr-13858	1409	41	,	,	PUNCT
cblr-13858	1409	42	1986	1986	NUM
cblr-13858	1409	43	wl	wl	PROPN
cblr-13858	1409	44	66613	66613	NUM
cblr-13858	1409	45	,	,	PUNCT
cblr-13858	1409	46	at	at	ADP
cblr-13858	1409	47	*	*	NOUN
cblr-13858	1409	48	1	1	NUM
cblr-13858	1409	49	(	(	PUNCT
cblr-13858	1409	50	apr	apr	PROPN
cblr-13858	1409	51	.	.	PROPN
cblr-13858	1409	52	23	23	NUM
cblr-13858	1409	53	,	,	PUNCT
cblr-13858	1409	54	1986	1986	NUM
cblr-13858	1409	55	)	)	PUNCT
cblr-13858	1409	56	;	;	PUNCT
cblr-13858	1409	57	venture	venture	NOUN
cblr-13858	1409	58	capital	capital	NOUN
cblr-13858	1409	59	res	re	NOUN
cblr-13858	1409	60	.	.	PROPN
cblr-13858	1409	61	,	,	PUNCT
cblr-13858	1409	62	inc	inc	PROPN
cblr-13858	1409	63	.	.	PROPN
cblr-13858	1409	64	,	,	PUNCT
cblr-13858	1409	65	sec	sec	PROPN
cblr-13858	1409	66	no	no	DET
cblr-13858	1409	67	-	-	PUNCT
cblr-13858	1409	68	action	action	NOUN
cblr-13858	1409	69	letter	letter	NOUN
cblr-13858	1409	70	,	,	PUNCT
cblr-13858	1409	71	1985	1985	NUM
cblr-13858	1409	72	wl	wl	NOUN
cblr-13858	1409	73	55644	55644	NUM
cblr-13858	1409	74	,	,	PUNCT
cblr-13858	1409	75	at	at	ADP
cblr-13858	1409	76	*	*	NOUN
cblr-13858	1409	77	1	1	NUM
cblr-13858	1409	78	(	(	PUNCT
cblr-13858	1409	79	nov	nov	PROPN
cblr-13858	1409	80	.	.	PROPN
cblr-13858	1409	81	25	25	NUM
cblr-13858	1409	82	,	,	PUNCT
cblr-13858	1409	83	1985	1985	NUM
cblr-13858	1409	84	)	)	PUNCT
cblr-13858	1409	85	.	.	PUNCT
cblr-13858	1410	1	365	365	NUM
cblr-13858	1410	2	mo	mo	PROPN
cblr-13858	1410	3	.	.	PROPN
cblr-13858	1410	4	innovation	innovation	PROPN
cblr-13858	1410	5	center	center	PROPN
cblr-13858	1410	6	,	,	PUNCT
cblr-13858	1410	7	inc	inc	PROPN
cblr-13858	1410	8	.	.	PROPN
cblr-13858	1410	9	,	,	PUNCT
cblr-13858	1410	10	sec	sec	PROPN
cblr-13858	1410	11	no	no	DET
cblr-13858	1410	12	-	-	PUNCT
cblr-13858	1410	13	action	action	NOUN
cblr-13858	1410	14	letter	letter	NOUN
cblr-13858	1410	15	,	,	PUNCT
cblr-13858	1410	16	1995	1995	NUM
cblr-13858	1410	17	wl	wl	NOUN
cblr-13858	1410	18	643949	643949	NUM
cblr-13858	1410	19	,	,	PUNCT
cblr-13858	1410	20	at	at	ADP
cblr-13858	1410	21	*	*	NUM
cblr-13858	1410	22	10	10	NUM
cblr-13858	1410	23	(	(	PUNCT
cblr-13858	1410	24	oct	oct	PROPN
cblr-13858	1410	25	.	.	PROPN
cblr-13858	1410	26	17	17	NUM
cblr-13858	1410	27	,	,	PUNCT
cblr-13858	1410	28	1995	1995	NUM
cblr-13858	1410	29	)	)	PUNCT
cblr-13858	1410	30	.	.	PUNCT
cblr-13858	1410	31	"	"	PUNCT
cblr-13858	1411	1	capital	capital	NOUN
cblr-13858	1411	2	res	re	NOUN
cblr-13858	1411	3	.	.	PUNCT
cblr-13858	1412	1	network	network	PROPN
cblr-13858	1412	2	,	,	PUNCT
cblr-13858	1412	3	sec	sec	PROPN
cblr-13858	1412	4	no	no	DET
cblr-13858	1412	5	-	-	PUNCT
cblr-13858	1412	6	action	action	NOUN
cblr-13858	1412	7	letter	letter	NOUN
cblr-13858	1412	8	,	,	PUNCT
cblr-13858	1412	9	1993	1993	NUM
cblr-13858	1412	10	wl	wl	NOUN
cblr-13858	1412	11	164600	164600	NUM
cblr-13858	1412	12	(	(	PUNCT
cblr-13858	1412	13	apr	apr	PROPN
cblr-13858	1412	14	.	.	PROPN
cblr-13858	1412	15	23	23	NUM
cblr-13858	1412	16	,	,	PUNCT
cblr-13858	1412	17	1993	1993	NUM
cblr-13858	1412	18	)	)	PUNCT
cblr-13858	1412	19	;	;	PUNCT
cblr-13858	1412	20	venture	venture	NOUN
cblr-13858	1412	21	capital	capital	NOUN
cblr-13858	1412	22	res	re	NOUN
cblr-13858	1412	23	.	.	PROPN
cblr-13858	1412	24	,	,	PUNCT
cblr-13858	1412	25	inc	inc	PROPN
cblr-13858	1412	26	.	.	PROPN
cblr-13858	1412	27	,	,	PUNCT
cblr-13858	1412	28	sec	sec	PROPN
cblr-13858	1412	29	no	no	DET
cblr-13858	1412	30	-	-	PUNCT
cblr-13858	1412	31	action	action	NOUN
cblr-13858	1412	32	letter	letter	NOUN
cblr-13858	1412	33	,	,	PUNCT
cblr-13858	1412	34	1985	1985	NUM
cblr-13858	1412	35	wl	wl	X
cblr-13858	1412	36	55644	55644	NUM
cblr-13858	1412	37	(	(	PUNCT
cblr-13858	1412	38	nov	nov	PROPN
cblr-13858	1412	39	.	.	PROPN
cblr-13858	1412	40	25	25	NUM
cblr-13858	1412	41	,	,	PUNCT
cblr-13858	1412	42	1985	1985	NUM
cblr-13858	1412	43	)	)	PUNCT
cblr-13858	1412	44	;	;	PUNCT
cblr-13858	1412	45	heartland	heartland	NOUN
cblr-13858	1412	46	venture	venture	NOUN
cblr-13858	1412	47	capital	capital	NOUN
cblr-13858	1412	48	network	network	NOUN
cblr-13858	1412	49	,	,	PUNCT
cblr-13858	1412	50	sec	sec	PROPN
cblr-13858	1412	51	noaction	noaction	NOUN
cblr-13858	1412	52	letter	letter	NOUN
cblr-13858	1412	53	,	,	PUNCT
cblr-13858	1412	54	1986	1986	NUM
cblr-13858	1412	55	wl	wl	NOUN
cblr-13858	1412	56	65138	65138	NUM
cblr-13858	1412	57	,	,	PUNCT
cblr-13858	1412	58	at	at	ADP
cblr-13858	1412	59	*	*	NOUN
cblr-13858	1412	60	1	1	NUM
cblr-13858	1412	61	(	(	PUNCT
cblr-13858	1412	62	mar	mar	PROPN
cblr-13858	1412	63	.	.	PROPN
cblr-13858	1412	64	26	26	NUM
cblr-13858	1412	65	,	,	PUNCT
cblr-13858	1412	66	1987	1987	NUM
cblr-13858	1412	67	)	)	PUNCT
cblr-13858	1412	68	(	(	PUNCT
cblr-13858	1412	69	indicating	indicate	VERB
cblr-13858	1412	70	that	that	SCONJ
cblr-13858	1412	71	the	the	DET
cblr-13858	1412	72	fee	fee	NOUN
cblr-13858	1412	73	need	need	AUX
cblr-13858	1412	74	not	not	PART
cblr-13858	1412	75	be	be	AUX
cblr-13858	1412	76	a	a	DET
cblr-13858	1412	77	one	one	NUM
cblr-13858	1412	78	-	-	PUNCT
cblr-13858	1412	79	time	time	NOUN
cblr-13858	1412	80	fee	fee	NOUN
cblr-13858	1412	81	;	;	PUNCT
cblr-13858	1412	82	a	a	DET
cblr-13858	1412	83	renewal	renewal	NOUN
cblr-13858	1412	84	fee	fee	NOUN
cblr-13858	1412	85	is	be	AUX
cblr-13858	1412	86	acceptable	acceptable	ADJ
cblr-13858	1412	87	)	)	PUNCT
cblr-13858	1412	88	.	.	PUNCT
cblr-13858	1413	1	367	367	NUM
cblr-13858	1413	2	capital	capital	NOUN
cblr-13858	1413	3	res	re	NOUN
cblr-13858	1413	4	.	.	PUNCT
cblr-13858	1414	1	network	network	PROPN
cblr-13858	1414	2	,	,	PUNCT
cblr-13858	1414	3	sec	sec	PROPN
cblr-13858	1414	4	no	no	DET
cblr-13858	1414	5	-	-	PUNCT
cblr-13858	1414	6	action	action	NOUN
cblr-13858	1414	7	letter	letter	NOUN
cblr-13858	1414	8	,	,	PUNCT
cblr-13858	1414	9	1993	1993	NUM
cblr-13858	1414	10	wl	wl	NOUN
cblr-13858	1414	11	164600	164600	NUM
cblr-13858	1414	12	,	,	PUNCT
cblr-13858	1414	13	at	at	ADP
cblr-13858	1414	14	*	*	NOUN
cblr-13858	1414	15	2	2	NUM
cblr-13858	1414	16	(	(	PUNCT
cblr-13858	1414	17	apr	apr	NOUN
cblr-13858	1414	18	.	.	PROPN
cblr-13858	1414	19	23	23	NUM
cblr-13858	1414	20	,	,	PUNCT
cblr-13858	1414	21	1993	1993	NUM
cblr-13858	1414	22	)	)	PUNCT
cblr-13858	1414	23	;	;	PUNCT
cblr-13858	1415	1	tech	tech	NOUN
cblr-13858	1415	2	.	.	PUNCT
cblr-13858	1416	1	capital	capital	PROPN
cblr-13858	1416	2	network	network	PROPN
cblr-13858	1416	3	,	,	PUNCT
cblr-13858	1416	4	inc	inc	PROPN
cblr-13858	1416	5	.	.	PROPN
cblr-13858	1416	6	,	,	PUNCT
cblr-13858	1416	7	sec	sec	PROPN
cblr-13858	1416	8	no	no	DET
cblr-13858	1416	9	-	-	PUNCT
cblr-13858	1416	10	action	action	NOUN
cblr-13858	1416	11	letter	letter	NOUN
cblr-13858	1416	12	,	,	PUNCT
cblr-13858	1416	13	1992	1992	NUM
cblr-13858	1416	14	wl	wl	NOUN
cblr-13858	1416	15	175694	175694	NUM
cblr-13858	1416	16	,	,	PUNCT
cblr-13858	1416	17	at	at	ADP
cblr-13858	1416	18	*	*	NUM
cblr-13858	1416	19	7	7	NUM
cblr-13858	1416	20	(	(	PUNCT
cblr-13858	1416	21	june	june	PROPN
cblr-13858	1416	22	5	5	NUM
cblr-13858	1416	23	,	,	PUNCT
cblr-13858	1416	24	1992	1992	NUM
cblr-13858	1416	25	)	)	PUNCT
cblr-13858	1416	26	.	.	PUNCT
cblr-13858	1417	1	36	36	NUM
cblr-13858	1417	2	'	'	PART
cblr-13858	1417	3	angel	angel	NOUN
cblr-13858	1417	4	capital	capital	PROPN
cblr-13858	1417	5	elec	elec	PROPN
cblr-13858	1417	6	.	.	PUNCT
cblr-13858	1418	1	network	network	PROPN
cblr-13858	1418	2	,	,	PUNCT
cblr-13858	1418	3	sec	sec	PROPN
cblr-13858	1418	4	no	no	DET
cblr-13858	1418	5	-	-	PUNCT
cblr-13858	1418	6	action	action	NOUN
cblr-13858	1418	7	letter	letter	NOUN
cblr-13858	1418	8	,	,	PUNCT
cblr-13858	1418	9	1996	1996	NUM
cblr-13858	1418	10	wl	wl	ADP
cblr-13858	1418	11	636094	636094	NUM
cblr-13858	1418	12	,	,	PUNCT
cblr-13858	1418	13	at	at	ADP
cblr-13858	1418	14	*	*	NOUN
cblr-13858	1418	15	2	2	NUM
cblr-13858	1418	16	(	(	PUNCT
cblr-13858	1418	17	oct	oct	PROPN
cblr-13858	1418	18	.	.	PROPN
cblr-13858	1418	19	25	25	NUM
cblr-13858	1418	20	,	,	PUNCT
cblr-13858	1418	21	1996	1996	NUM
cblr-13858	1418	22	)	)	PUNCT
cblr-13858	1418	23	;	;	PUNCT
cblr-13858	1418	24	capital	capital	NOUN
cblr-13858	1418	25	res	re	NOUN
cblr-13858	1418	26	.	.	PUNCT
cblr-13858	1419	1	network	network	PROPN
cblr-13858	1419	2	,	,	PUNCT
cblr-13858	1419	3	sec	sec	PROPN
cblr-13858	1419	4	no	no	DET
cblr-13858	1419	5	-	-	PUNCT
cblr-13858	1419	6	action	action	NOUN
cblr-13858	1419	7	74	74	NUM
cblr-13858	1419	8	col	col	PROPN
cblr-13858	1419	9	umia	umia	PROPN
cblr-13858	1419	10	b	b	PROPN
cblr-13858	1420	1	usiness	usiness	PROPN
cblr-13858	1420	2	la	la	PROPN
cblr-13858	1420	3	wre	wre	PROPN
cblr-13858	1420	4	vie	vie	PROPN
cblr-13858	1420	5	w	w	PROPN
cblr-13858	1421	1	[	[	X
cblr-13858	1421	2	vol	vol	NOUN
cblr-13858	1421	3	.	.	NOUN
cblr-13858	1421	4	2012	2012	NUM
cblr-13858	1421	5	information	information	NOUN
cblr-13858	1421	6	concerning	concern	VERB
cblr-13858	1421	7	how	how	SCONJ
cblr-13858	1421	8	to	to	PART
cblr-13858	1421	9	complete	complete	VERB
cblr-13858	1421	10	a	a	DET
cblr-13858	1421	11	transaction.369	transaction.369	NOUN
cblr-13858	1421	12	(	(	PUNCT
cblr-13858	1421	13	5	5	NUM
cblr-13858	1421	14	)	)	PUNCT
cblr-13858	1421	15	the	the	DET
cblr-13858	1421	16	network	network	NOUN
cblr-13858	1421	17	does	do	AUX
cblr-13858	1421	18	not	not	PART
cblr-13858	1421	19	handle	handle	VERB
cblr-13858	1421	20	any	any	DET
cblr-13858	1421	21	funds	fund	NOUN
cblr-13858	1421	22	or	or	CCONJ
cblr-13858	1421	23	securities	security	NOUN
cblr-13858	1421	24	involved	involve	VERB
cblr-13858	1421	25	in	in	ADP
cblr-13858	1421	26	completing	complete	VERB
cblr-13858	1421	27	a	a	DET
cblr-13858	1421	28	transaction.3	transaction.3	PROPN
cblr-13858	1421	29	0	0	NUM
cblr-13858	1421	30	thomas	thomas	PROPN
cblr-13858	1421	31	hazen	hazen	PROPN
cblr-13858	1421	32	reads	read	VERB
cblr-13858	1421	33	these	these	DET
cblr-13858	1421	34	no	no	DET
cblr-13858	1421	35	-	-	PUNCT
cblr-13858	1421	36	action	action	NOUN
cblr-13858	1421	37	letters	letter	NOUN
cblr-13858	1421	38	as	as	ADP
cblr-13858	1421	39	allowing	allow	VERB
cblr-13858	1421	40	the	the	DET
cblr-13858	1421	41	use	use	NOUN
cblr-13858	1421	42	of	of	ADP
cblr-13858	1421	43	"	"	PUNCT
cblr-13858	1421	44	passive	passive	ADJ
cblr-13858	1421	45	"	"	PUNCT
cblr-13858	1421	46	bulletin	bulletin	NOUN
cblr-13858	1421	47	boards	board	NOUN
cblr-13858	1421	48	that	that	PRON
cblr-13858	1421	49	merely	merely	ADV
cblr-13858	1421	50	post	post	VERB
cblr-13858	1421	51	information	information	NOUN
cblr-13858	1421	52	about	about	ADP
cblr-13858	1421	53	securities	security	NOUN
cblr-13858	1421	54	as	as	ADV
cblr-13858	1421	55	long	long	ADV
cblr-13858	1421	56	as	as	SCONJ
cblr-13858	1421	57	two	two	NUM
cblr-13858	1421	58	conditions	condition	NOUN
cblr-13858	1421	59	are	be	AUX
cblr-13858	1421	60	met	meet	VERB
cblr-13858	1421	61	:	:	PUNCT
cblr-13858	1421	62	(	(	PUNCT
cblr-13858	1421	63	1	1	X
cblr-13858	1421	64	)	)	PUNCT
cblr-13858	1421	65	the	the	DET
cblr-13858	1421	66	bulletin	bulletin	NOUN
cblr-13858	1421	67	boards	board	NOUN
cblr-13858	1421	68	are	be	AUX
cblr-13858	1421	69	not	not	PART
cblr-13858	1421	70	involved	involve	VERB
cblr-13858	1421	71	in	in	ADP
cblr-13858	1421	72	any	any	DET
cblr-13858	1421	73	negotiations	negotiation	NOUN
cblr-13858	1421	74	regarding	regard	VERB
cblr-13858	1421	75	investments	investment	NOUN
cblr-13858	1421	76	arising	arise	VERB
cblr-13858	1421	77	from	from	ADP
cblr-13858	1421	78	using	use	VERB
cblr-13858	1421	79	of	of	ADP
cblr-13858	1421	80	the	the	DET
cblr-13858	1421	81	bulletin	bulletin	NOUN
cblr-13858	1421	82	board	board	NOUN
cblr-13858	1421	83	;	;	PUNCT
cblr-13858	1421	84	and	and	CCONJ
cblr-13858	1421	85	(	(	PUNCT
cblr-13858	1421	86	2	2	X
cblr-13858	1421	87	)	)	PUNCT
cblr-13858	1421	88	the	the	DET
cblr-13858	1421	89	board	board	NOUN
cblr-13858	1421	90	operator	operator	NOUN
cblr-13858	1421	91	gives	give	VERB
cblr-13858	1421	92	no	no	DET
cblr-13858	1421	93	advice	advice	NOUN
cblr-13858	1421	94	"	"	PUNCT
cblr-13858	1421	95	regarding	regard	VERB
cblr-13858	1421	96	the	the	DET
cblr-13858	1421	97	merits	merit	NOUN
cblr-13858	1421	98	or	or	CCONJ
cblr-13858	1421	99	shortcomings	shortcoming	NOUN
cblr-13858	1421	100	of	of	ADP
cblr-13858	1421	101	any	any	DET
cblr-13858	1421	102	particular	particular	ADJ
cblr-13858	1421	103	trade	trade	NOUN
cblr-13858	1421	104	.	.	PUNCT
cblr-13858	1422	1	"371	"371	PROPN
cblr-13858	1423	1	thomas	thomas	PROPN
cblr-13858	1423	2	lemke	lemke	PROPN
cblr-13858	1423	3	and	and	CCONJ
cblr-13858	1423	4	gerald	gerald	PROPN
cblr-13858	1423	5	lins	lin	NOUN
cblr-13858	1423	6	add	add	VERB
cblr-13858	1423	7	a	a	DET
cblr-13858	1423	8	third	third	ADJ
cblr-13858	1423	9	condition	condition	NOUN
cblr-13858	1423	10	:	:	PUNCT
cblr-13858	1423	11	the	the	DET
cblr-13858	1423	12	bulletin	bulletin	NOUN
cblr-13858	1423	13	board	board	NOUN
cblr-13858	1423	14	operator	operator	NOUN
cblr-13858	1423	15	may	may	AUX
cblr-13858	1423	16	not	not	PART
cblr-13858	1423	17	"	"	PUNCT
cblr-13858	1423	18	receive	receive	VERB
cblr-13858	1423	19	compensation	compensation	NOUN
cblr-13858	1423	20	in	in	ADP
cblr-13858	1423	21	connection	connection	NOUN
cblr-13858	1423	22	with	with	ADP
cblr-13858	1423	23	the	the	DET
cblr-13858	1423	24	purchase	purchase	NOUN
cblr-13858	1423	25	or	or	CCONJ
cblr-13858	1423	26	sale	sale	NOUN
cblr-13858	1423	27	of	of	ADP
cblr-13858	1423	28	any	any	DET
cblr-13858	1423	29	stock	stock	NOUN
cblr-13858	1423	30	listed	list	VERB
cblr-13858	1423	31	on	on	ADP
cblr-13858	1423	32	the	the	DET
cblr-13858	1423	33	bulletin	bulletin	NOUN
cblr-13858	1423	34	board	board	NOUN
cblr-13858	1423	35	.	.	PUNCT
cblr-13858	1424	1	"372	"372	NOUN
cblr-13858	1424	2	crowdfunding	crowdfunde	VERB
cblr-13858	1424	3	sites	site	NOUN
cblr-13858	1424	4	differ	differ	VERB
cblr-13858	1424	5	from	from	ADP
cblr-13858	1424	6	these	these	DET
cblr-13858	1424	7	approved	approve	VERB
cblr-13858	1424	8	matching	matching	NOUN
cblr-13858	1424	9	networks	network	NOUN
cblr-13858	1424	10	in	in	ADP
cblr-13858	1424	11	several	several	ADJ
cblr-13858	1424	12	ways	way	NOUN
cblr-13858	1424	13	that	that	PRON
cblr-13858	1424	14	make	make	VERB
cblr-13858	1424	15	it	it	PRON
cblr-13858	1424	16	more	more	ADV
cblr-13858	1424	17	likely	likely	ADJ
cblr-13858	1424	18	that	that	SCONJ
cblr-13858	1424	19	they	they	PRON
cblr-13858	1424	20	will	will	AUX
cblr-13858	1424	21	be	be	AUX
cblr-13858	1424	22	treated	treat	VERB
cblr-13858	1424	23	as	as	ADP
cblr-13858	1424	24	investment	investment	NOUN
cblr-13858	1424	25	advisers	adviser	NOUN
cblr-13858	1424	26	.	.	PUNCT
cblr-13858	1425	1	crowdfunding	crowdfunde	VERB
cblr-13858	1425	2	sites	site	NOUN
cblr-13858	1425	3	typically	typically	ADV
cblr-13858	1425	4	are	be	AUX
cblr-13858	1425	5	operated	operate	VERB
cblr-13858	1425	6	for	for	ADP
cblr-13858	1425	7	profit	profit	NOUN
cblr-13858	1425	8	,	,	PUNCT
cblr-13858	1425	9	not	not	PART
cblr-13858	1425	10	by	by	ADP
cblr-13858	1425	11	a	a	DET
cblr-13858	1425	12	non	non	ADJ
cblr-13858	1425	13	-	-	ADJ
cblr-13858	1425	14	profit	profit	ADJ
cblr-13858	1425	15	institution	institution	NOUN
cblr-13858	1425	16	.	.	PUNCT
cblr-13858	1426	1	they	they	PRON
cblr-13858	1426	2	often	often	ADV
cblr-13858	1426	3	charge	charge	VERB
cblr-13858	1426	4	transaction	transaction	NOUN
cblr-13858	1426	5	-	-	PUNCT
cblr-13858	1426	6	based	base	VERB
cblr-13858	1426	7	fees	fee	NOUN
cblr-13858	1426	8	.	.	PUNCT
cblr-13858	1427	1	although	although	SCONJ
cblr-13858	1427	2	the	the	DET
cblr-13858	1427	3	site	site	NOUN
cblr-13858	1427	4	operator	operator	NOUN
cblr-13858	1427	5	does	do	AUX
cblr-13858	1427	6	not	not	PART
cblr-13858	1427	7	directly	directly	ADV
cblr-13858	1427	8	participate	participate	VERB
cblr-13858	1427	9	in	in	ADP
cblr-13858	1427	10	negotiations	negotiation	NOUN
cblr-13858	1427	11	,	,	PUNCT
cblr-13858	1427	12	negotiation	negotiation	NOUN
cblr-13858	1427	13	and	and	CCONJ
cblr-13858	1427	14	completion	completion	NOUN
cblr-13858	1427	15	of	of	ADP
cblr-13858	1427	16	the	the	DET
cblr-13858	1427	17	transactions	transaction	NOUN
cblr-13858	1427	18	occur	occur	VERB
cblr-13858	1427	19	on	on	ADP
cblr-13858	1427	20	the	the	DET
cblr-13858	1427	21	crowdfunding	crowdfunding	NOUN
cblr-13858	1427	22	site	site	NOUN
cblr-13858	1427	23	,	,	PUNCT
cblr-13858	1427	24	rather	rather	ADV
cblr-13858	1427	25	than	than	ADP
cblr-13858	1427	26	directly	directly	ADV
cblr-13858	1427	27	between	between	ADP
cblr-13858	1427	28	the	the	DET
cblr-13858	1427	29	investor	investor	NOUN
cblr-13858	1427	30	and	and	CCONJ
cblr-13858	1427	31	the	the	DET
cblr-13858	1427	32	entrepreneur	entrepreneur	NOUN
cblr-13858	1427	33	.	.	PUNCT
cblr-13858	1428	1	also	also	ADV
cblr-13858	1428	2	,	,	PUNCT
cblr-13858	1428	3	crowdfunding	crowdfunde	VERB
cblr-13858	1428	4	sites	site	NOUN
cblr-13858	1428	5	do	do	AUX
cblr-13858	1428	6	handle	handle	VERB
cblr-13858	1428	7	funds	fund	NOUN
cblr-13858	1428	8	and	and	CCONJ
cblr-13858	1428	9	securities	security	NOUN
cblr-13858	1428	10	,	,	PUNCT
cblr-13858	1428	11	since	since	SCONJ
cblr-13858	1428	12	both	both	CCONJ
cblr-13858	1428	13	the	the	DET
cblr-13858	1428	14	initial	initial	ADJ
cblr-13858	1428	15	investments	investment	NOUN
cblr-13858	1428	16	and	and	CCONJ
cblr-13858	1428	17	the	the	DET
cblr-13858	1428	18	returns	return	NOUN
cblr-13858	1428	19	paid	pay	VERB
cblr-13858	1428	20	to	to	ADP
cblr-13858	1428	21	investors	investor	NOUN
cblr-13858	1428	22	flow	flow	VERB
cblr-13858	1428	23	through	through	ADP
cblr-13858	1428	24	the	the	DET
cblr-13858	1428	25	site	site	NOUN
cblr-13858	1428	26	.	.	PUNCT
cblr-13858	1429	1	whether	whether	SCONJ
cblr-13858	1429	2	these	these	DET
cblr-13858	1429	3	differences	difference	NOUN
cblr-13858	1429	4	from	from	ADP
cblr-13858	1429	5	approved	approve	VERB
cblr-13858	1429	6	services	service	NOUN
cblr-13858	1429	7	are	be	AUX
cblr-13858	1429	8	enough	enough	ADJ
cblr-13858	1429	9	to	to	PART
cblr-13858	1429	10	make	make	VERB
cblr-13858	1429	11	crowdfunding	crowdfunding	NOUN
cblr-13858	1429	12	sites	site	NOUN
cblr-13858	1429	13	investment	investment	NOUN
cblr-13858	1429	14	advisers	adviser	NOUN
cblr-13858	1429	15	is	be	AUX
cblr-13858	1429	16	unclear	unclear	ADJ
cblr-13858	1429	17	.	.	PUNCT
cblr-13858	1430	1	however	however	ADV
cblr-13858	1430	2	,	,	PUNCT
cblr-13858	1430	3	one	one	NUM
cblr-13858	1430	4	important	important	ADJ
cblr-13858	1430	5	distinction	distinction	NOUN
cblr-13858	1430	6	between	between	ADP
cblr-13858	1430	7	crowdfunding	crowdfunde	VERB
cblr-13858	1430	8	sites	site	NOUN
cblr-13858	1430	9	and	and	CCONJ
cblr-13858	1430	10	matching	matching	NOUN
cblr-13858	1430	11	services	service	NOUN
cblr-13858	1430	12	points	point	NOUN
cblr-13858	1430	13	in	in	ADP
cblr-13858	1430	14	the	the	DET
cblr-13858	1430	15	letter	letter	NOUN
cblr-13858	1430	16	,	,	PUNCT
cblr-13858	1430	17	1993	1993	NUM
cblr-13858	1430	18	wl	wl	NOUN
cblr-13858	1430	19	164600	164600	NUM
cblr-13858	1430	20	,	,	PUNCT
cblr-13858	1430	21	at	at	ADP
cblr-13858	1430	22	*	*	NOUN
cblr-13858	1430	23	2	2	NUM
cblr-13858	1430	24	(	(	PUNCT
cblr-13858	1430	25	apr	apr	NOUN
cblr-13858	1430	26	.	.	PROPN
cblr-13858	1430	27	23	23	NUM
cblr-13858	1430	28	,	,	PUNCT
cblr-13858	1430	29	1993	1993	NUM
cblr-13858	1430	30	)	)	PUNCT
cblr-13858	1430	31	;	;	PUNCT
cblr-13858	1430	32	venture	venture	NOUN
cblr-13858	1430	33	capital	capital	NOUN
cblr-13858	1430	34	res	re	NOUN
cblr-13858	1430	35	.	.	PROPN
cblr-13858	1430	36	,	,	PUNCT
cblr-13858	1430	37	inc	inc	PROPN
cblr-13858	1430	38	.	.	PROPN
cblr-13858	1430	39	,	,	PUNCT
cblr-13858	1430	40	sec	sec	PROPN
cblr-13858	1430	41	no	no	DET
cblr-13858	1430	42	-	-	PUNCT
cblr-13858	1430	43	action	action	NOUN
cblr-13858	1430	44	letter	letter	NOUN
cblr-13858	1430	45	,	,	PUNCT
cblr-13858	1430	46	1985	1985	NUM
cblr-13858	1430	47	wl	wl	X
cblr-13858	1430	48	55644	55644	NUM
cblr-13858	1430	49	(	(	PUNCT
cblr-13858	1430	50	nov	nov	PROPN
cblr-13858	1430	51	.	.	PROPN
cblr-13858	1430	52	25	25	NUM
cblr-13858	1430	53	,	,	PUNCT
cblr-13858	1430	54	1985	1985	NUM
cblr-13858	1430	55	)	)	PUNCT
cblr-13858	1430	56	.	.	PUNCT
cblr-13858	1431	1	369	369	NUM
cblr-13858	1431	2	venture	venture	NOUN
cblr-13858	1431	3	capital	capital	NOUN
cblr-13858	1431	4	res	re	NOUN
cblr-13858	1431	5	.	.	PROPN
cblr-13858	1431	6	,	,	PUNCT
cblr-13858	1431	7	inc	inc	PROPN
cblr-13858	1431	8	.	.	PROPN
cblr-13858	1431	9	,	,	PUNCT
cblr-13858	1431	10	sec	sec	PROPN
cblr-13858	1431	11	no	no	DET
cblr-13858	1431	12	-	-	PUNCT
cblr-13858	1431	13	action	action	NOUN
cblr-13858	1431	14	letter	letter	NOUN
cblr-13858	1431	15	,	,	PUNCT
cblr-13858	1431	16	1985	1985	NUM
cblr-13858	1431	17	wl	wl	NOUN
cblr-13858	1431	18	55644	55644	NUM
cblr-13858	1431	19	,	,	PUNCT
cblr-13858	1431	20	at	at	ADP
cblr-13858	1431	21	*	*	NOUN
cblr-13858	1431	22	2	2	NUM
cblr-13858	1431	23	(	(	PUNCT
cblr-13858	1431	24	nov	nov	PROPN
cblr-13858	1431	25	.	.	PROPN
cblr-13858	1431	26	25	25	NUM
cblr-13858	1431	27	,	,	PUNCT
cblr-13858	1431	28	1985	1985	NUM
cblr-13858	1431	29	)	)	PUNCT
cblr-13858	1431	30	.	.	PUNCT
cblr-13858	1432	1	370	370	NUM
cblr-13858	1433	1	i	i	PRON
cblr-13858	1433	2	d.	d.	NOUN
cblr-13858	1433	3	371	371	NUM
cblr-13858	1433	4	7	7	NUM
cblr-13858	1433	5	hazen	hazen	PROPN
cblr-13858	1433	6	,	,	PUNCT
cblr-13858	1433	7	supra	supra	PROPN
cblr-13858	1433	8	note	note	PROPN
cblr-13858	1433	9	42	42	NUM
cblr-13858	1433	10	,	,	PUNCT
cblr-13858	1433	11	at	at	ADP
cblr-13858	1433	12	30	30	NUM
cblr-13858	1433	13	.	.	PUNCT
cblr-13858	1434	1	372	372	NUM
cblr-13858	1434	2	lemke	lemke	PROPN
cblr-13858	1434	3	&	&	CCONJ
cblr-13858	1434	4	lins	lins	PROPN
cblr-13858	1434	5	,	,	PUNCT
cblr-13858	1434	6	supra	supra	PROPN
cblr-13858	1434	7	note	note	NOUN
cblr-13858	1434	8	340	340	NUM
cblr-13858	1434	9	,	,	PUNCT
cblr-13858	1434	10	at	at	ADP
cblr-13858	1434	11	10	10	NUM
cblr-13858	1434	12	.	.	PUNCT
cblr-13858	1435	1	75no	75no	ADJ
cblr-13858	1435	2	.	.	PUNCT
cblr-13858	1436	1	1	1	NUM
cblr-13858	1436	2	:	:	SYM
cblr-13858	1436	3	1	1	NUM
cblr-13858	1436	4	]	]	PUNCT
cblr-13858	1436	5	cro	cro	NOUN
cblr-13858	1436	6	wdfunding	wdfunding	NOUN
cblr-13858	1436	7	and	and	CCONJ
cblr-13858	1436	8	securities	security	NOUN
cblr-13858	1436	9	la	la	PRON
cblr-13858	1436	10	ws	ws	PROPN
cblr-13858	1436	11	opposite	opposite	ADJ
cblr-13858	1436	12	direction	direction	NOUN
cblr-13858	1436	13	.	.	PUNCT
cblr-13858	1437	1	matching	match	VERB
cblr-13858	1437	2	services	service	NOUN
cblr-13858	1437	3	,	,	PUNCT
cblr-13858	1437	4	by	by	ADP
cblr-13858	1437	5	definition	definition	NOUN
cblr-13858	1437	6	,	,	PUNCT
cblr-13858	1437	7	attempt	attempt	VERB
cblr-13858	1437	8	to	to	PART
cblr-13858	1437	9	match	match	VERB
cblr-13858	1437	10	investors	investor	NOUN
cblr-13858	1437	11	with	with	ADP
cblr-13858	1437	12	suitable	suitable	ADJ
cblr-13858	1437	13	offerings	offering	NOUN
cblr-13858	1437	14	.	.	PUNCT
cblr-13858	1438	1	by	by	ADP
cblr-13858	1438	2	making	make	VERB
cblr-13858	1438	3	a	a	DET
cblr-13858	1438	4	match	match	NOUN
cblr-13858	1438	5	,	,	PUNCT
cblr-13858	1438	6	the	the	DET
cblr-13858	1438	7	service	service	NOUN
cblr-13858	1438	8	is	be	AUX
cblr-13858	1438	9	,	,	PUNCT
cblr-13858	1438	10	in	in	ADP
cblr-13858	1438	11	effect	effect	NOUN
cblr-13858	1438	12	,	,	PUNCT
cblr-13858	1438	13	"	"	PUNCT
cblr-13858	1438	14	advising	advise	VERB
cblr-13858	1438	15	"	"	PUNCT
cblr-13858	1438	16	the	the	DET
cblr-13858	1438	17	investor	investor	NOUN
cblr-13858	1438	18	that	that	PRON
cblr-13858	1438	19	the	the	DET
cblr-13858	1438	20	particular	particular	ADJ
cblr-13858	1438	21	offering	offering	NOUN
cblr-13858	1438	22	fits	fit	VERB
cblr-13858	1438	23	the	the	DET
cblr-13858	1438	24	investor	investor	NOUN
cblr-13858	1438	25	's	's	PART
cblr-13858	1438	26	needs	need	NOUN
cblr-13858	1438	27	.	.	PUNCT
cblr-13858	1439	1	crowdfunding	crowdfunde	VERB
cblr-13858	1439	2	sites	site	NOUN
cblr-13858	1439	3	,	,	PUNCT
cblr-13858	1439	4	by	by	ADP
cblr-13858	1439	5	contrast	contrast	NOUN
cblr-13858	1439	6	,	,	PUNCT
cblr-13858	1439	7	do	do	AUX
cblr-13858	1439	8	not	not	PART
cblr-13858	1439	9	typically	typically	ADV
cblr-13858	1439	10	screen	screen	VERB
cblr-13858	1439	11	investment	investment	NOUN
cblr-13858	1439	12	opportunities	opportunity	NOUN
cblr-13858	1439	13	in	in	ADP
cblr-13858	1439	14	this	this	DET
cblr-13858	1439	15	way	way	NOUN
cblr-13858	1439	16	.	.	PUNCT
cblr-13858	1440	1	investors	investor	NOUN
cblr-13858	1440	2	can	can	AUX
cblr-13858	1440	3	see	see	VERB
cblr-13858	1440	4	all	all	PRON
cblr-13858	1440	5	of	of	ADP
cblr-13858	1440	6	the	the	DET
cblr-13858	1440	7	opportunities	opportunity	NOUN
cblr-13858	1440	8	available	available	ADJ
cblr-13858	1440	9	on	on	ADP
cblr-13858	1440	10	the	the	DET
cblr-13858	1440	11	site	site	NOUN
cblr-13858	1440	12	,	,	PUNCT
cblr-13858	1440	13	and	and	CCONJ
cblr-13858	1440	14	it	it	PRON
cblr-13858	1440	15	is	be	AUX
cblr-13858	1440	16	up	up	ADP
cblr-13858	1440	17	to	to	ADP
cblr-13858	1440	18	the	the	DET
cblr-13858	1440	19	investor	investor	NOUN
cblr-13858	1440	20	to	to	PART
cblr-13858	1440	21	screen	screen	VERB
cblr-13858	1440	22	them	they	PRON
cblr-13858	1440	23	to	to	PART
cblr-13858	1440	24	determine	determine	VERB
cblr-13858	1440	25	which	which	PRON
cblr-13858	1440	26	is	be	AUX
cblr-13858	1440	27	appropriate	appropriate	ADJ
cblr-13858	1440	28	.	.	PUNCT
cblr-13858	1441	1	the	the	DET
cblr-13858	1441	2	element	element	NOUN
cblr-13858	1441	3	of	of	ADP
cblr-13858	1441	4	"	"	PUNCT
cblr-13858	1441	5	advice	advice	NOUN
cblr-13858	1441	6	or	or	CCONJ
cblr-13858	1441	7	"	"	PUNCT
cblr-13858	1441	8	analysis	analysis	NOUN
cblr-13858	1441	9	"	"	PUNCT
cblr-13858	1441	10	being	be	AUX
cblr-13858	1441	11	provided	provide	VERB
cblr-13858	1441	12	by	by	ADP
cblr-13858	1441	13	the	the	DET
cblr-13858	1441	14	site	site	NOUN
cblr-13858	1441	15	is	be	AUX
cblr-13858	1441	16	thus	thus	ADV
cblr-13858	1441	17	arguably	arguably	ADV
cblr-13858	1441	18	missing	missing	ADJ
cblr-13858	1441	19	.	.	PUNCT
cblr-13858	1442	1	the	the	DET
cblr-13858	1442	2	sec	sec	PROPN
cblr-13858	1442	3	staff	staff	NOUN
cblr-13858	1442	4	has	have	AUX
cblr-13858	1442	5	in	in	ADP
cblr-13858	1442	6	fact	fact	NOUN
cblr-13858	1442	7	granted	grant	VERB
cblr-13858	1442	8	no	no	DET
cblr-13858	1442	9	-	-	PUNCT
cblr-13858	1442	10	action	action	NOUN
cblr-13858	1442	11	relief	relief	NOUN
cblr-13858	1442	12	to	to	ADP
cblr-13858	1442	13	several	several	ADJ
cblr-13858	1442	14	sites	site	NOUN
cblr-13858	1442	15	that	that	PRON
cblr-13858	1442	16	merely	merely	ADV
cblr-13858	1442	17	posted	post	VERB
cblr-13858	1442	18	available	available	ADJ
cblr-13858	1442	19	opportunities	opportunity	NOUN
cblr-13858	1442	20	,	,	PUNCT
cblr-13858	1442	21	with	with	ADP
cblr-13858	1442	22	no	no	DET
cblr-13858	1442	23	attempt	attempt	NOUN
cblr-13858	1442	24	to	to	PART
cblr-13858	1442	25	match	match	VERB
cblr-13858	1442	26	investors	investor	NOUN
cblr-13858	1442	27	to	to	ADP
cblr-13858	1442	28	those	those	DET
cblr-13858	1442	29	opportunities.3	opportunities.3	PROPN
cblr-13858	1442	30	"	"	PUNCT
cblr-13858	1442	31	however	however	ADV
cblr-13858	1442	32	,	,	PUNCT
cblr-13858	1442	33	those	those	DET
cblr-13858	1442	34	sites	site	NOUN
cblr-13858	1442	35	differed	differ	VERB
cblr-13858	1442	36	in	in	ADP
cblr-13858	1442	37	other	other	ADJ
cblr-13858	1442	38	important	important	ADJ
cblr-13858	1442	39	ways	way	NOUN
cblr-13858	1442	40	from	from	ADP
cblr-13858	1442	41	crowdfunding	crowdfunde	VERB
cblr-13858	1442	42	sites	site	NOUN
cblr-13858	1442	43	.	.	PUNCT
cblr-13858	1443	1	moreover	moreover	ADV
cblr-13858	1443	2	,	,	PUNCT
cblr-13858	1443	3	only	only	ADV
cblr-13858	1443	4	one	one	NUM
cblr-13858	1443	5	no	no	DET
cblr-13858	1443	6	-	-	PUNCT
cblr-13858	1443	7	action	action	NOUN
cblr-13858	1443	8	letter	letter	NOUN
cblr-13858	1443	9	suggests	suggest	VERB
cblr-13858	1443	10	that	that	SCONJ
cblr-13858	1443	11	this	this	DET
cblr-13858	1443	12	distinction	distinction	NOUN
cblr-13858	1443	13	is	be	AUX
cblr-13858	1443	14	important	important	ADJ
cblr-13858	1443	15	for	for	ADP
cblr-13858	1443	16	the	the	DET
cblr-13858	1443	17	sec	sec	PROPN
cblr-13858	1443	18	's	's	PART
cblr-13858	1443	19	purposes	purpose	NOUN
cblr-13858	1443	20	.	.	PUNCT
cblr-13858	1444	1	in	in	ADP
cblr-13858	1444	2	its	its	PRON
cblr-13858	1444	3	response	response	NOUN
cblr-13858	1444	4	to	to	AUX
cblr-13858	1444	5	venture	venture	VERB
cblr-13858	1444	6	capital	capital	NOUN
cblr-13858	1444	7	network	network	PROPN
cblr-13858	1444	8	,	,	PUNCT
cblr-13858	1444	9	inc	inc	PROPN
cblr-13858	1444	10	.	.	PROPN
cblr-13858	1444	11	,374	,374	PUNCT
cblr-13858	1444	12	the	the	DET
cblr-13858	1444	13	staff	staff	NOUN
cblr-13858	1444	14	indicated	indicate	VERB
cblr-13858	1444	15	that	that	SCONJ
cblr-13858	1444	16	a	a	DET
cblr-13858	1444	17	matching	match	VERB
cblr-13858	1444	18	network	network	NOUN
cblr-13858	1444	19	was	be	AUX
cblr-13858	1444	20	issuing	issue	VERB
cblr-13858	1444	21	analyses	analysis	NOUN
cblr-13858	1444	22	or	or	CCONJ
cblr-13858	1444	23	reports	report	NOUN
cblr-13858	1444	24	concerning	concern	VERB
cblr-13858	1444	25	securities	security	NOUN
cblr-13858	1444	26	,	,	PUNCT
cblr-13858	1444	27	and	and	CCONJ
cblr-13858	1444	28	therefore	therefore	ADV
cblr-13858	1444	29	met	meet	VERB
cblr-13858	1444	30	the	the	DET
cblr-13858	1444	31	criteria	criterion	NOUN
cblr-13858	1444	32	to	to	PART
cblr-13858	1444	33	be	be	AUX
cblr-13858	1444	34	an	an	DET
cblr-13858	1444	35	"	"	PUNCT
cblr-13858	1444	36	investment	investment	NOUN
cblr-13858	1444	37	adviser	adviser	NOUN
cblr-13858	1444	38	,	,	PUNCT
cblr-13858	1444	39	"	"	PUNCT
cblr-13858	1444	40	because	because	SCONJ
cblr-13858	1444	41	it	it	PRON
cblr-13858	1444	42	"	"	PUNCT
cblr-13858	1444	43	represents	represent	VERB
cblr-13858	1444	44	that	that	SCONJ
cblr-13858	1444	45	,	,	PUNCT
cblr-13858	1444	46	on	on	ADP
cblr-13858	1444	47	the	the	DET
cblr-13858	1444	48	basis	basis	NOUN
cblr-13858	1444	49	of	of	ADP
cblr-13858	1444	50	the	the	DET
cblr-13858	1444	51	investors	investor	NOUN
cblr-13858	1444	52	'	'	PART
cblr-13858	1444	53	responses	response	NOUN
cblr-13858	1444	54	to	to	ADP
cblr-13858	1444	55	the	the	DET
cblr-13858	1444	56	questionnaire	questionnaire	NOUN
cblr-13858	1444	57	drawn	draw	VERB
cblr-13858	1444	58	up	up	ADP
cblr-13858	1444	59	by	by	ADP
cblr-13858	1444	60	vcn	vcn	PROPN
cblr-13858	1444	61	and	and	CCONJ
cblr-13858	1444	62	the	the	DET
cblr-13858	1444	63	information	information	NOUN
cblr-13858	1444	64	provided	provide	VERB
cblr-13858	1444	65	by	by	ADP
cblr-13858	1444	66	the	the	DET
cblr-13858	1444	67	entrepreneurs	entrepreneur	NOUN
cblr-13858	1444	68	in	in	ADP
cblr-13858	1444	69	response	response	NOUN
cblr-13858	1444	70	to	to	ADP
cblr-13858	1444	71	questionnaires	questionnaire	NOUN
cblr-13858	1444	72	drawn	draw	VERB
cblr-13858	1444	73	up	up	ADP
cblr-13858	1444	74	by	by	ADP
cblr-13858	1444	75	vcn	vcn	PROPN
cblr-13858	1444	76	,	,	PUNCT
cblr-13858	1444	77	the	the	DET
cblr-13858	1444	78	information	information	NOUN
cblr-13858	1444	79	provided	provide	VERB
cblr-13858	1444	80	by	by	ADP
cblr-13858	1444	81	vcn	vcn	PROPN
cblr-13858	1444	82	concerns	concern	NOUN
cblr-13858	1444	83	an	an	DET
cblr-13858	1444	84	investment	investment	NOUN
cblr-13858	1444	85	opportunity	opportunity	NOUN
cblr-13858	1444	86	in	in	ADP
cblr-13858	1444	87	a	a	DET
cblr-13858	1444	88	company	company	NOUN
cblr-13858	1444	89	or	or	CCONJ
cblr-13858	1444	90	companies	company	NOUN
cblr-13858	1444	91	which	which	PRON
cblr-13858	1444	92	satisfy	satisfy	VERB
cblr-13858	1444	93	the	the	DET
cblr-13858	1444	94	investors	investor	NOUN
cblr-13858	1444	95	'	'	PART
cblr-13858	1444	96	indicated	indicate	VERB
cblr-13858	1444	97	investment	investment	NOUN
cblr-13858	1444	98	criteria	criterion	NOUN
cblr-13858	1444	99	.	.	PUNCT
cblr-13858	1445	1	""5	""5	VERB
cblr-13858	1445	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1445	3	sites	site	NOUN
cblr-13858	1445	4	do	do	AUX
cblr-13858	1445	5	not	not	PART
cblr-13858	1445	6	usually	usually	ADV
cblr-13858	1445	7	pick	pick	VERB
cblr-13858	1445	8	opportunities	opportunity	NOUN
cblr-13858	1445	9	for	for	ADP
cblr-13858	1445	10	investors	investor	NOUN
cblr-13858	1445	11	or	or	CCONJ
cblr-13858	1445	12	attempt	attempt	VERB
cblr-13858	1445	13	to	to	PART
cblr-13858	1445	14	match	match	VERB
cblr-13858	1445	15	them	they	PRON
cblr-13858	1445	16	to	to	ADP
cblr-13858	1445	17	"	"	PUNCT
cblr-13858	1445	18	appropriate	appropriate	ADJ
cblr-13858	1445	19	"	"	PUNCT
cblr-13858	1445	20	opportunities	opportunity	NOUN
cblr-13858	1445	21	.	.	PUNCT
cblr-13858	1446	1	however	however	ADV
cblr-13858	1446	2	,	,	PUNCT
cblr-13858	1446	3	given	give	VERB
cblr-13858	1446	4	the	the	DET
cblr-13858	1446	5	sec	sec	PROPN
cblr-13858	1446	6	letter	letter	NOUN
cblr-13858	1446	7	's	's	PART
cblr-13858	1446	8	limited	limited	ADJ
cblr-13858	1446	9	discussion	discussion	NOUN
cblr-13858	1446	10	,	,	PUNCT
cblr-13858	1446	11	it	it	PRON
cblr-13858	1446	12	is	be	AUX
cblr-13858	1446	13	unclear	unclear	ADJ
cblr-13858	1446	14	if	if	SCONJ
cblr-13858	1446	15	this	this	DET
cblr-13858	1446	16	distinction	distinction	NOUN
cblr-13858	1446	17	from	from	ADP
cblr-13858	1446	18	the	the	DET
cblr-13858	1446	19	"	"	PUNCT
cblr-13858	1446	20	see	see	PROPN
cblr-13858	1446	21	mo	mo	PROPN
cblr-13858	1446	22	.	.	PROPN
cblr-13858	1446	23	innovation	innovation	PROPN
cblr-13858	1446	24	ctr	ctr	PROPN
cblr-13858	1446	25	.	.	PROPN
cblr-13858	1446	26	,	,	PUNCT
cblr-13858	1446	27	inc	inc	PROPN
cblr-13858	1446	28	.	.	PROPN
cblr-13858	1446	29	,	,	PUNCT
cblr-13858	1446	30	sec	sec	PROPN
cblr-13858	1446	31	no	no	DET
cblr-13858	1446	32	-	-	PUNCT
cblr-13858	1446	33	action	action	NOUN
cblr-13858	1446	34	letter	letter	NOUN
cblr-13858	1446	35	,	,	PUNCT
cblr-13858	1446	36	1995	1995	NUM
cblr-13858	1446	37	wl	wl	NOUN
cblr-13858	1446	38	643949	643949	NUM
cblr-13858	1446	39	,	,	PUNCT
cblr-13858	1446	40	at	at	ADP
cblr-13858	1446	41	*	*	NUM
cblr-13858	1446	42	4	4	NUM
cblr-13858	1446	43	(	(	PUNCT
cblr-13858	1446	44	oct	oct	PROPN
cblr-13858	1446	45	.	.	PROPN
cblr-13858	1446	46	17	17	NUM
cblr-13858	1446	47	,	,	PUNCT
cblr-13858	1446	48	1995	1995	NUM
cblr-13858	1446	49	)	)	PUNCT
cblr-13858	1446	50	;	;	PUNCT
cblr-13858	1446	51	investex	investex	NOUN
cblr-13858	1446	52	investors	investors	PROPN
cblr-13858	1446	53	exch	exch	PROPN
cblr-13858	1446	54	.	.	PROPN
cblr-13858	1446	55	inc	inc	PROPN
cblr-13858	1446	56	.	.	PROPN
cblr-13858	1446	57	,	,	PUNCT
cblr-13858	1446	58	sec	sec	PROPN
cblr-13858	1446	59	noaction	noaction	NOUN
cblr-13858	1446	60	letter	letter	NOUN
cblr-13858	1446	61	,	,	PUNCT
cblr-13858	1446	62	1990	1990	NUM
cblr-13858	1446	63	wl	wl	NOUN
cblr-13858	1446	64	286331	286331	NUM
cblr-13858	1446	65	,	,	PUNCT
cblr-13858	1446	66	at	at	ADP
cblr-13858	1446	67	*	*	NOUN
cblr-13858	1446	68	2	2	NUM
cblr-13858	1446	69	(	(	PUNCT
cblr-13858	1446	70	apr	apr	NOUN
cblr-13858	1446	71	.	.	PROPN
cblr-13858	1446	72	9	9	NUM
cblr-13858	1446	73	,	,	PUNCT
cblr-13858	1446	74	1990	1990	NUM
cblr-13858	1446	75	)	)	PUNCT
cblr-13858	1446	76	;	;	PUNCT
cblr-13858	1446	77	petroleum	petroleum	NOUN
cblr-13858	1446	78	info	info	NOUN
cblr-13858	1446	79	.	.	PUNCT
cblr-13858	1447	1	corp	corp	PROPN
cblr-13858	1447	2	.	.	PROPN
cblr-13858	1447	3	,	,	PUNCT
cblr-13858	1447	4	sec	sec	PROPN
cblr-13858	1447	5	no	no	DET
cblr-13858	1447	6	-	-	PUNCT
cblr-13858	1447	7	action	action	NOUN
cblr-13858	1447	8	letter	letter	NOUN
cblr-13858	1447	9	,	,	PUNCT
cblr-13858	1447	10	1989	1989	NUM
cblr-13858	1447	11	wl	wl	NOUN
cblr-13858	1447	12	246625	246625	NUM
cblr-13858	1447	13	,	,	PUNCT
cblr-13858	1447	14	at	at	ADP
cblr-13858	1447	15	*	*	PROPN
cblr-13858	1447	16	2	2	NUM
cblr-13858	1447	17	(	(	PUNCT
cblr-13858	1447	18	nov	nov	PROPN
cblr-13858	1447	19	.	.	PROPN
cblr-13858	1447	20	28	28	NUM
cblr-13858	1447	21	,	,	PUNCT
cblr-13858	1447	22	1989	1989	NUM
cblr-13858	1447	23	)	)	PUNCT
cblr-13858	1447	24	;	;	PUNCT
cblr-13858	1447	25	richmond	richmond	PROPN
cblr-13858	1447	26	venture	venture	NOUN
cblr-13858	1447	27	capital	capital	PROPN
cblr-13858	1447	28	network	network	PROPN
cblr-13858	1447	29	,	,	PUNCT
cblr-13858	1447	30	inc	inc	PROPN
cblr-13858	1447	31	.	.	PROPN
cblr-13858	1447	32	,	,	PUNCT
cblr-13858	1447	33	sec	sec	PROPN
cblr-13858	1447	34	no	no	DET
cblr-13858	1447	35	-	-	PUNCT
cblr-13858	1447	36	action	action	NOUN
cblr-13858	1447	37	letter	letter	NOUN
cblr-13858	1447	38	,	,	PUNCT
cblr-13858	1447	39	1989	1989	NUM
cblr-13858	1447	40	wl	wl	NOUN
cblr-13858	1447	41	246296	246296	NUM
cblr-13858	1447	42	,	,	PUNCT
cblr-13858	1447	43	at	at	ADP
cblr-13858	1447	44	*	*	NOUN
cblr-13858	1447	45	1	1	NUM
cblr-13858	1447	46	(	(	PUNCT
cblr-13858	1447	47	may	may	PROPN
cblr-13858	1447	48	12	12	NUM
cblr-13858	1447	49	,	,	PUNCT
cblr-13858	1447	50	1989	1989	NUM
cblr-13858	1447	51	)	)	PUNCT
cblr-13858	1447	52	.	.	PUNCT
cblr-13858	1447	53	"	"	PUNCT
cblr-13858	1448	1	venture	venture	NOUN
cblr-13858	1448	2	capital	capital	NOUN
cblr-13858	1448	3	network	network	PROPN
cblr-13858	1448	4	,	,	PUNCT
cblr-13858	1448	5	inc	inc	PROPN
cblr-13858	1448	6	.	.	PROPN
cblr-13858	1448	7	,	,	PUNCT
cblr-13858	1448	8	sec	sec	PROPN
cblr-13858	1448	9	no	no	DET
cblr-13858	1448	10	-	-	PUNCT
cblr-13858	1448	11	action	action	NOUN
cblr-13858	1448	12	letter	letter	NOUN
cblr-13858	1448	13	,	,	PUNCT
cblr-13858	1448	14	1984	1984	NUM
cblr-13858	1448	15	wl	wl	NOUN
cblr-13858	1448	16	45334	45334	NUM
cblr-13858	1448	17	(	(	PUNCT
cblr-13858	1448	18	may	may	PROPN
cblr-13858	1448	19	7	7	NUM
cblr-13858	1448	20	,	,	PUNCT
cblr-13858	1448	21	1984	1984	NUM
cblr-13858	1448	22	)	)	PUNCT
cblr-13858	1448	23	.	.	PUNCT
cblr-13858	1449	1	7	7	NUM
cblr-13858	1450	1	i	i	PRON
cblr-13858	1450	2	d.	d.	VERB
cblr-13858	1450	3	at	at	ADP
cblr-13858	1450	4	*	*	PROPN
cblr-13858	1450	5	2	2	NUM
cblr-13858	1450	6	.	.	PUNCT
cblr-13858	1451	1	[	[	X
cblr-13858	1451	2	vol	vol	NOUN
cblr-13858	1451	3	.	.	PUNCT
cblr-13858	1451	4	201276	201276	NUM
cblr-13858	1451	5	col	col	PROPN
cblr-13858	1451	6	umb1a	umb1a	PROPN
cblr-13858	1451	7	b	b	PROPN
cblr-13858	1451	8	usiness	usiness	NOUN
cblr-13858	1451	9	la	la	PROPN
cblr-13858	1451	10	w	w	PROPN
cblr-13858	1451	11	re	re	PROPN
cblr-13858	1451	12	vie	vie	PROPN
cblr-13858	1451	13	w	w	PROPN
cblr-13858	1451	14	matching	matching	NOUN
cblr-13858	1451	15	services	service	NOUN
cblr-13858	1451	16	is	be	AUX
cblr-13858	1451	17	sufficient	sufficient	ADJ
cblr-13858	1451	18	to	to	PART
cblr-13858	1451	19	keep	keep	VERB
cblr-13858	1451	20	crowdfunding	crowdfunde	VERB
cblr-13858	1451	21	sites	site	NOUN
cblr-13858	1451	22	from	from	ADP
cblr-13858	1451	23	being	be	AUX
cblr-13858	1451	24	investment	investment	NOUN
cblr-13858	1451	25	advisers	adviser	NOUN
cblr-13858	1451	26	.	.	PUNCT
cblr-13858	1452	1	6	6	X
cblr-13858	1452	2	.	.	X
cblr-13858	1452	3	the	the	DET
cblr-13858	1452	4	publisher	publisher	NOUN
cblr-13858	1452	5	exception	exception	NOUN
cblr-13858	1452	6	section	section	PROPN
cblr-13858	1452	7	202(a)(11	202(a)(11	NUM
cblr-13858	1452	8	)	)	PUNCT
cblr-13858	1452	9	of	of	ADP
cblr-13858	1452	10	the	the	DET
cblr-13858	1452	11	investment	investment	NOUN
cblr-13858	1452	12	advisers	adviser	NOUN
cblr-13858	1452	13	act	act	VERB
cblr-13858	1452	14	contains	contain	VERB
cblr-13858	1452	15	several	several	ADJ
cblr-13858	1452	16	exceptions	exception	NOUN
cblr-13858	1452	17	to	to	ADP
cblr-13858	1452	18	the	the	DET
cblr-13858	1452	19	general	general	ADJ
cblr-13858	1452	20	definition	definition	NOUN
cblr-13858	1452	21	of	of	ADP
cblr-13858	1452	22	investment	investment	NOUN
cblr-13858	1452	23	adviser	adviser	NOUN
cblr-13858	1452	24	.	.	PUNCT
cblr-13858	1453	1	one	one	NUM
cblr-13858	1453	2	of	of	ADP
cblr-13858	1453	3	those	those	DET
cblr-13858	1453	4	exceptions	exception	NOUN
cblr-13858	1453	5	,	,	PUNCT
cblr-13858	1453	6	the	the	DET
cblr-13858	1453	7	subsection	subsection	NOUN
cblr-13858	1453	8	(	(	PUNCT
cblr-13858	1453	9	d	d	NOUN
cblr-13858	1453	10	)	)	PUNCT
cblr-13858	1453	11	exception	exception	NOUN
cblr-13858	1453	12	for	for	ADP
cblr-13858	1453	13	"	"	PUNCT
cblr-13858	1453	14	the	the	DET
cblr-13858	1453	15	publisher	publisher	NOUN
cblr-13858	1453	16	of	of	ADP
cblr-13858	1453	17	any	any	DET
cblr-13858	1453	18	bona	bona	ADJ
cblr-13858	1453	19	fide	fide	ADJ
cblr-13858	1453	20	newspaper	newspaper	NOUN
cblr-13858	1453	21	,	,	PUNCT
cblr-13858	1453	22	news	news	NOUN
cblr-13858	1453	23	magazine	magazine	NOUN
cblr-13858	1453	24	or	or	CCONJ
cblr-13858	1453	25	business	business	NOUN
cblr-13858	1453	26	or	or	CCONJ
cblr-13858	1453	27	financial	financial	ADJ
cblr-13858	1453	28	publication	publication	NOUN
cblr-13858	1453	29	of	of	ADP
cblr-13858	1453	30	general	general	ADJ
cblr-13858	1453	31	and	and	CCONJ
cblr-13858	1453	32	regular	regular	ADJ
cblr-13858	1453	33	circulation,"3	circulation,"3	NOUN
cblr-13858	1453	34	76	76	NUM
cblr-13858	1453	35	might	might	AUX
cblr-13858	1453	36	apply	apply	VERB
cblr-13858	1453	37	to	to	ADP
cblr-13858	1453	38	crowdfunding	crowdfunding	NOUN
cblr-13858	1453	39	sites	site	NOUN
cblr-13858	1453	40	.	.	PUNCT
cblr-13858	1454	1	the	the	DET
cblr-13858	1454	2	exception	exception	NOUN
cblr-13858	1454	3	covers	cover	VERB
cblr-13858	1454	4	"	"	PUNCT
cblr-13858	1454	5	publications	publication	NOUN
cblr-13858	1454	6	,	,	PUNCT
cblr-13858	1454	7	"	"	PUNCT
cblr-13858	1454	8	but	but	CCONJ
cblr-13858	1454	9	it	it	PRON
cblr-13858	1454	10	is	be	AUX
cblr-13858	1454	11	"	"	PUNCT
cblr-13858	1454	12	clear	clear	ADJ
cblr-13858	1454	13	that	that	SCONJ
cblr-13858	1454	14	the	the	DET
cblr-13858	1454	15	exclusion	exclusion	NOUN
cblr-13858	1454	16	for	for	ADP
cblr-13858	1454	17	publishers	publisher	NOUN
cblr-13858	1454	18	is	be	AUX
cblr-13858	1454	19	not	not	PART
cblr-13858	1454	20	limited	limit	VERB
cblr-13858	1454	21	to	to	ADP
cblr-13858	1454	22	publications	publication	NOUN
cblr-13858	1454	23	or	or	CCONJ
cblr-13858	1454	24	paper	paper	NOUN
cblr-13858	1454	25	media	medium	NOUN
cblr-13858	1454	26	.	.	PUNCT
cblr-13858	1455	1	"377	"377	NOUN
cblr-13858	1455	2	it	it	PRON
cblr-13858	1455	3	has	have	AUX
cblr-13858	1455	4	been	be	AUX
cblr-13858	1455	5	applied	apply	VERB
cblr-13858	1455	6	to	to	ADP
cblr-13858	1455	7	web	web	NOUN
cblr-13858	1455	8	sites	site	NOUN
cblr-13858	1455	9	,	,	PUNCT
cblr-13858	1455	10	7	7	NUM
cblr-13858	1455	11	internet	internet	NOUN
cblr-13858	1455	12	postings,37	postings,37	VERB
cblr-13858	1455	13	'	'	PART
cblr-13858	1455	14	electronic	electronic	ADJ
cblr-13858	1455	15	messages,3	messages,3	NOUN
cblr-13858	1455	16	0	0	PUNCT
cblr-13858	1456	1	and	and	CCONJ
cblr-13858	1456	2	a	a	DET
cblr-13858	1456	3	private	private	ADJ
cblr-13858	1456	4	video	video	NOUN
cblr-13858	1456	5	information	information	NOUN
cblr-13858	1456	6	network.3	network.3	ADV
cblr-13858	1456	7	1	1	NUM
cblr-13858	1456	8	consequently	consequently	ADV
cblr-13858	1456	9	,	,	PUNCT
cblr-13858	1456	10	internet	internet	NOUN
cblr-13858	1456	11	-	-	PUNCT
cblr-13858	1456	12	based	base	VERB
cblr-13858	1456	13	crowdfunding	crowdfunding	NOUN
cblr-13858	1456	14	sites	site	NOUN
cblr-13858	1456	15	could	could	AUX
cblr-13858	1456	16	potentially	potentially	ADV
cblr-13858	1456	17	use	use	VERB
cblr-13858	1456	18	the	the	DET
cblr-13858	1456	19	exception	exception	NOUN
cblr-13858	1456	20	.	.	PUNCT
cblr-13858	1457	1	the	the	DET
cblr-13858	1457	2	supreme	supreme	PROPN
cblr-13858	1457	3	court	court	PROPN
cblr-13858	1457	4	outlined	outline	VERB
cblr-13858	1457	5	the	the	DET
cblr-13858	1457	6	parameters	parameter	NOUN
cblr-13858	1457	7	of	of	ADP
cblr-13858	1457	8	the	the	DET
cblr-13858	1457	9	subsection	subsection	NOUN
cblr-13858	1457	10	(	(	PUNCT
cblr-13858	1457	11	d	d	NOUN
cblr-13858	1457	12	)	)	PUNCT
cblr-13858	1457	13	exception	exception	NOUN
cblr-13858	1457	14	in	in	ADP
cblr-13858	1457	15	1985	1985	NUM
cblr-13858	1457	16	,	,	PUNCT
cblr-13858	1457	17	in	in	ADP
cblr-13858	1457	18	lowe	lowe	PROPN
cblr-13858	1457	19	v.	v.	PROPN
cblr-13858	1457	20	sec.382	sec.382	PROPN
cblr-13858	1457	21	according	accord	VERB
cblr-13858	1457	22	to	to	ADP
cblr-13858	1457	23	the	the	DET
cblr-13858	1457	24	court	court	NOUN
cblr-13858	1457	25	,	,	PUNCT
cblr-13858	1457	26	in	in	ADP
cblr-13858	1457	27	passing	pass	VERB
cblr-13858	1457	28	the	the	DET
cblr-13858	1457	29	investment	investment	NOUN
cblr-13858	1457	30	advisers	adviser	NOUN
cblr-13858	1457	31	act	act	VERB
cblr-13858	1457	32	,	,	PUNCT
cblr-13858	1457	33	congress	congress	PROPN
cblr-13858	1457	34	"	"	PUNCT
cblr-13858	1457	35	was	be	AUX
cblr-13858	1457	36	primarily	primarily	ADV
cblr-13858	1457	37	interested	interested	ADJ
cblr-13858	1457	38	in	in	ADP
cblr-13858	1457	39	regulating	regulate	VERB
cblr-13858	1457	40	the	the	DET
cblr-13858	1457	41	business	business	NOUN
cblr-13858	1457	42	of	of	ADP
cblr-13858	1457	43	rendering	render	VERB
cblr-13858	1457	44	personalized	personalize	VERB
cblr-13858	1457	45	investment	investment	NOUN
cblr-13858	1457	46	advice	advice	NOUN
cblr-13858	1457	47	.	.	PUNCT
cblr-13858	1457	48	"	"	PUNCT
cblr-13858	1458	1	38	38	NUM
cblr-13858	1458	2	3	3	NUM
cblr-13858	1458	3	communications	communication	NOUN
cblr-13858	1458	4	that	that	PRON
cblr-13858	1458	5	"	"	PUNCT
cblr-13858	1458	6	do	do	AUX
cblr-13858	1458	7	not	not	PART
cblr-13858	1458	8	offer	offer	VERB
cblr-13858	1458	9	individualized	individualized	ADJ
cblr-13858	1458	10	advice	advice	NOUN
cblr-13858	1458	11	37	37	NUM
cblr-13858	1458	12	investment	investment	NOUN
cblr-13858	1458	13	advisers	adviser	NOUN
cblr-13858	1458	14	act	act	VERB
cblr-13858	1458	15	of	of	ADP
cblr-13858	1458	16	1940	1940	NUM
cblr-13858	1458	17	§	§	PROPN
cblr-13858	1458	18	80b-2(a)(11)(d	80b-2(a)(11)(d	NUM
cblr-13858	1458	19	)	)	PUNCT
cblr-13858	1458	20	,	,	PUNCT
cblr-13858	1458	21	15	15	NUM
cblr-13858	1458	22	u.s.c	u.s.c	ADJ
cblr-13858	1458	23	.	.	PUNCT
cblr-13858	1459	1	§	§	PROPN
cblr-13858	1459	2	80b2(a)(11)(d	80b2(a)(11)(d	PROPN
cblr-13858	1459	3	)	)	PUNCT
cblr-13858	1459	4	(	(	PUNCT
cblr-13858	1459	5	2006	2006	NUM
cblr-13858	1459	6	)	)	PUNCT
cblr-13858	1459	7	.	.	PUNCT
cblr-13858	1460	1	3	3	X
cblr-13858	1460	2	"	"	PUNCT
cblr-13858	1460	3	friedman	friedman	PROPN
cblr-13858	1460	4	,	,	PUNCT
cblr-13858	1460	5	supra	supra	PROPN
cblr-13858	1460	6	note	note	PROPN
cblr-13858	1460	7	266	266	NUM
cblr-13858	1460	8	,	,	PUNCT
cblr-13858	1460	9	at	at	ADP
cblr-13858	1460	10	17	17	NUM
cblr-13858	1460	11	-	-	SYM
cblr-13858	1460	12	7	7	NUM
cblr-13858	1460	13	.	.	NOUN
cblr-13858	1460	14	378	378	NUM
cblr-13858	1460	15	sec	sec	PROPN
cblr-13858	1460	16	v.	v.	ADP
cblr-13858	1460	17	park	park	PROPN
cblr-13858	1460	18	,	,	PUNCT
cblr-13858	1460	19	99	99	NUM
cblr-13858	1460	20	f.	f.	PROPN
cblr-13858	1460	21	supp	supp	PROPN
cblr-13858	1460	22	.	.	PUNCT
cblr-13858	1461	1	2d	2d	PROPN
cblr-13858	1461	2	889	889	NUM
cblr-13858	1461	3	,	,	PUNCT
cblr-13858	1461	4	900	900	NUM
cblr-13858	1461	5	-	-	SYM
cblr-13858	1461	6	02	02	NUM
cblr-13858	1461	7	(	(	PUNCT
cblr-13858	1461	8	n.d	n.d	PROPN
cblr-13858	1461	9	.	.	PROPN
cblr-13858	1461	10	ill	ill	PROPN
cblr-13858	1461	11	.	.	PROPN
cblr-13858	1461	12	2000	2000	NUM
cblr-13858	1461	13	)	)	PUNCT
cblr-13858	1462	1	(	(	PUNCT
cblr-13858	1462	2	rejecting	reject	VERB
cblr-13858	1462	3	the	the	DET
cblr-13858	1462	4	application	application	NOUN
cblr-13858	1462	5	of	of	ADP
cblr-13858	1462	6	the	the	DET
cblr-13858	1462	7	subsection	subsection	NOUN
cblr-13858	1462	8	(	(	PUNCT
cblr-13858	1462	9	d	d	NOUN
cblr-13858	1462	10	)	)	PUNCT
cblr-13858	1462	11	exception	exception	NOUN
cblr-13858	1462	12	for	for	ADP
cblr-13858	1462	13	other	other	ADJ
cblr-13858	1462	14	reasons	reason	NOUN
cblr-13858	1462	15	)	)	PUNCT
cblr-13858	1462	16	.	.	PUNCT
cblr-13858	1463	1	"	"	PUNCT
cblr-13858	1463	2	see	see	VERB
cblr-13858	1463	3	i	i	PRON
cblr-13858	1463	4	d.	d.	PROPN
cblr-13858	1463	5	at	at	ADP
cblr-13858	1463	6	894	894	NUM
cblr-13858	1463	7	-	-	SYM
cblr-13858	1463	8	96	96	NUM
cblr-13858	1463	9	(	(	PUNCT
cblr-13858	1463	10	rejecting	reject	VERB
cblr-13858	1463	11	the	the	DET
cblr-13858	1463	12	application	application	NOUN
cblr-13858	1463	13	of	of	ADP
cblr-13858	1463	14	the	the	DET
cblr-13858	1463	15	subsection	subsection	NOUN
cblr-13858	1463	16	(	(	PUNCT
cblr-13858	1463	17	d	d	NOUN
cblr-13858	1463	18	)	)	PUNCT
cblr-13858	1463	19	exception	exception	NOUN
cblr-13858	1463	20	for	for	ADP
cblr-13858	1463	21	other	other	ADJ
cblr-13858	1463	22	reasons	reason	NOUN
cblr-13858	1463	23	)	)	PUNCT
cblr-13858	1463	24	.	.	PUNCT
cblr-13858	1464	1	380	380	NUM
cblr-13858	1464	2	see	see	VERB
cblr-13858	1464	3	sec	sec	PROPN
cblr-13858	1464	4	v.	v.	ADP
cblr-13858	1464	5	terry	terry	PROPN
cblr-13858	1464	6	's	's	PART
cblr-13858	1464	7	tips	tip	NOUN
cblr-13858	1464	8	,	,	PUNCT
cblr-13858	1464	9	inc	inc	PROPN
cblr-13858	1464	10	.	.	PROPN
cblr-13858	1464	11	,	,	PUNCT
cblr-13858	1464	12	409	409	NUM
cblr-13858	1464	13	f.	f.	PROPN
cblr-13858	1464	14	supp	supp	PROPN
cblr-13858	1464	15	.	.	PUNCT
cblr-13858	1465	1	2d	2d	PROPN
cblr-13858	1465	2	526	526	NUM
cblr-13858	1465	3	,	,	PUNCT
cblr-13858	1465	4	530	530	NUM
cblr-13858	1465	5	-	-	SYM
cblr-13858	1465	6	32	32	NUM
cblr-13858	1465	7	(	(	PUNCT
cblr-13858	1465	8	d.	d.	PROPN
cblr-13858	1465	9	vt	vt	PROPN
cblr-13858	1465	10	.	.	PROPN
cblr-13858	1465	11	2006	2006	NUM
cblr-13858	1465	12	)	)	PUNCT
cblr-13858	1466	1	(	(	PUNCT
cblr-13858	1466	2	holding	hold	VERB
cblr-13858	1466	3	that	that	SCONJ
cblr-13858	1466	4	the	the	DET
cblr-13858	1466	5	publisher	publisher	NOUN
cblr-13858	1466	6	exception	exception	NOUN
cblr-13858	1466	7	applies	apply	VERB
cblr-13858	1466	8	to	to	ADP
cblr-13858	1466	9	non	non	ADJ
cblr-13858	1466	10	-	-	ADJ
cblr-13858	1466	11	personalized	personalized	ADJ
cblr-13858	1466	12	email	email	NOUN
cblr-13858	1466	13	,	,	PUNCT
cblr-13858	1466	14	but	but	CCONJ
cblr-13858	1466	15	nevertheless	nevertheless	ADV
cblr-13858	1466	16	finding	find	VERB
cblr-13858	1466	17	the	the	DET
cblr-13858	1466	18	defendants	defendant	NOUN
cblr-13858	1466	19	to	to	PART
cblr-13858	1466	20	be	be	AUX
cblr-13858	1466	21	investment	investment	NOUN
cblr-13858	1466	22	advisers	adviser	NOUN
cblr-13858	1466	23	)	)	PUNCT
cblr-13858	1466	24	;	;	PUNCT
cblr-13858	1466	25	mr	mr	PROPN
cblr-13858	1466	26	.	.	PROPN
cblr-13858	1466	27	russell	russell	PROPN
cblr-13858	1466	28	h.	h.	PROPN
cblr-13858	1466	29	smith	smith	PROPN
cblr-13858	1466	30	,	,	PUNCT
cblr-13858	1466	31	sec	sec	PROPN
cblr-13858	1466	32	no	no	DET
cblr-13858	1466	33	-	-	PUNCT
cblr-13858	1466	34	action	action	NOUN
cblr-13858	1466	35	letter	letter	NOUN
cblr-13858	1466	36	,	,	PUNCT
cblr-13858	1466	37	1996	1996	NUM
cblr-13858	1466	38	wil	wil	VERB
cblr-13858	1466	39	282564	282564	NUM
cblr-13858	1466	40	,	,	PUNCT
cblr-13858	1466	41	at	at	ADP
cblr-13858	1466	42	*	*	NOUN
cblr-13858	1466	43	2	2	NUM
cblr-13858	1466	44	(	(	PUNCT
cblr-13858	1466	45	may	may	PROPN
cblr-13858	1466	46	2	2	NUM
cblr-13858	1466	47	,	,	PUNCT
cblr-13858	1466	48	1996	1996	NUM
cblr-13858	1466	49	)	)	PUNCT
cblr-13858	1467	1	(	(	PUNCT
cblr-13858	1467	2	noting	note	VERB
cblr-13858	1467	3	that	that	SCONJ
cblr-13858	1467	4	a	a	DET
cblr-13858	1467	5	person	person	NOUN
cblr-13858	1467	6	providing	provide	VERB
cblr-13858	1467	7	advice	advice	NOUN
cblr-13858	1467	8	through	through	ADP
cblr-13858	1467	9	electronic	electronic	ADJ
cblr-13858	1467	10	mail	mail	NOUN
cblr-13858	1467	11	could	could	AUX
cblr-13858	1467	12	qualify	qualify	VERB
cblr-13858	1467	13	for	for	ADP
cblr-13858	1467	14	the	the	DET
cblr-13858	1467	15	publisher	publisher	NOUN
cblr-13858	1467	16	exception	exception	NOUN
cblr-13858	1467	17	)	)	PUNCT
cblr-13858	1467	18	.	.	PUNCT
cblr-13858	1468	1	38	38	NUM
cblr-13858	1468	2	'	'	PUNCT
cblr-13858	1468	3	see	see	VERB
cblr-13858	1468	4	reuters	reuter	NOUN
cblr-13858	1468	5	info	info	NOUN
cblr-13858	1468	6	.	.	PUNCT
cblr-13858	1469	1	servs	servs	PROPN
cblr-13858	1469	2	.	.	PUNCT
cblr-13858	1469	3	,	,	PUNCT
cblr-13858	1469	4	sec	sec	PROPN
cblr-13858	1469	5	no	no	DET
cblr-13858	1469	6	-	-	PUNCT
cblr-13858	1469	7	action	action	NOUN
cblr-13858	1469	8	letter	letter	NOUN
cblr-13858	1469	9	,	,	PUNCT
cblr-13858	1469	10	1991	1991	NUM
cblr-13858	1469	11	wl	wl	NOUN
cblr-13858	1469	12	176539	176539	NUM
cblr-13858	1469	13	,	,	PUNCT
cblr-13858	1469	14	at	at	ADP
cblr-13858	1469	15	*	*	PROPN
cblr-13858	1469	16	1-*3	1-*3	NUM
cblr-13858	1469	17	(	(	PUNCT
cblr-13858	1469	18	jan	jan	PROPN
cblr-13858	1469	19	.	.	PROPN
cblr-13858	1469	20	17	17	NUM
cblr-13858	1469	21	,	,	PUNCT
cblr-13858	1469	22	1991	1991	NUM
cblr-13858	1469	23	)	)	PUNCT
cblr-13858	1469	24	.	.	PUNCT
cblr-13858	1470	1	382	382	NUM
cblr-13858	1470	2	472	472	NUM
cblr-13858	1470	3	u.s	u.s	PROPN
cblr-13858	1470	4	.	.	PROPN
cblr-13858	1470	5	181	181	NUM
cblr-13858	1470	6	,	,	PUNCT
cblr-13858	1470	7	203	203	NUM
cblr-13858	1470	8	-	-	SYM
cblr-13858	1470	9	11	11	NUM
cblr-13858	1470	10	(	(	PUNCT
cblr-13858	1470	11	1985	1985	NUM
cblr-13858	1470	12	)	)	PUNCT
cblr-13858	1470	13	.	.	PUNCT
cblr-13858	1471	1	383	383	NUM
cblr-13858	1472	1	i	i	PRON
cblr-13858	1472	2	d.	d.	VERB
cblr-13858	1472	3	at	at	ADP
cblr-13858	1472	4	204	204	NUM
cblr-13858	1472	5	.	.	PUNCT
cblr-13858	1473	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1473	2	and	and	CCONJ
cblr-13858	1473	3	securities	security	NOUN
cblr-13858	1473	4	la	la	PROPN
cblr-13858	1473	5	ws	ws	PROPN
cblr-13858	1473	6	77no	77no	NUM
cblr-13858	1473	7	.	.	PUNCT
cblr-13858	1474	1	1:1l	1:1l	NUM
cblr-13858	1474	2	]	]	PUNCT
cblr-13858	1474	3	columbia	columbia	PROPN
cblr-13858	1474	4	business	business	PROPN
cblr-13858	1474	5	law	law	PROPN
cblr-13858	1474	6	re	re	AUX
cblr-13858	1474	7	view	view	VERB
cblr-13858	1474	8	attuned	attuned	ADJ
cblr-13858	1474	9	to	to	ADP
cblr-13858	1474	10	any	any	DET
cblr-13858	1474	11	specific	specific	ADJ
cblr-13858	1474	12	portfolio	portfolio	NOUN
cblr-13858	1474	13	or	or	CCONJ
cblr-13858	1474	14	to	to	ADP
cblr-13858	1474	15	any	any	DET
cblr-13858	1474	16	client	client	NOUN
cblr-13858	1474	17	's	's	PART
cblr-13858	1474	18	particular	particular	ADJ
cblr-13858	1474	19	needs	need	NOUN
cblr-13858	1474	20	"	"	PUNCT
cblr-13858	1474	21	are	be	AUX
cblr-13858	1474	22	not	not	PART
cblr-13858	1474	23	within	within	ADP
cblr-13858	1474	24	the	the	DET
cblr-13858	1474	25	purpose	purpose	NOUN
cblr-13858	1474	26	of	of	ADP
cblr-13858	1474	27	the	the	DET
cblr-13858	1474	28	act	act	NOUN
cblr-13858	1474	29	"	"	PUNCT
cblr-13858	1474	30	'	'	PUNCT
cblr-13858	1474	31	and	and	CCONJ
cblr-13858	1474	32	are	be	AUX
cblr-13858	1474	33	at	at	ADP
cblr-13858	1474	34	least	least	ADJ
cblr-13858	1474	35	presumptively	presumptively	ADV
cblr-13858	1474	36	within	within	ADP
cblr-13858	1474	37	the	the	DET
cblr-13858	1474	38	subsection	subsection	NOUN
cblr-13858	1474	39	(	(	PUNCT
cblr-13858	1474	40	d	d	NOUN
cblr-13858	1474	41	)	)	PUNCT
cblr-13858	1474	42	exclusion	exclusion	NOUN
cblr-13858	1474	43	.	.	PUNCT
cblr-13858	1475	1	385	385	NUM
cblr-13858	1475	2	a	a	DET
cblr-13858	1475	3	few	few	ADJ
cblr-13858	1475	4	lower	low	ADJ
cblr-13858	1475	5	court	court	NOUN
cblr-13858	1475	6	cases	case	NOUN
cblr-13858	1475	7	since	since	SCONJ
cblr-13858	1475	8	lowe	lowe	NOUN
cblr-13858	1475	9	have	have	AUX
cblr-13858	1475	10	concluded	conclude	VERB
cblr-13858	1475	11	that	that	SCONJ
cblr-13858	1475	12	publications	publication	NOUN
cblr-13858	1475	13	offering	offer	VERB
cblr-13858	1475	14	non	non	ADJ
cblr-13858	1475	15	-	-	ADJ
cblr-13858	1475	16	personalized	personalized	ADJ
cblr-13858	1475	17	advice	advice	NOUN
cblr-13858	1475	18	to	to	ADP
cblr-13858	1475	19	investors	investor	NOUN
cblr-13858	1475	20	are	be	AUX
cblr-13858	1475	21	not	not	PART
cblr-13858	1475	22	investment	investment	NOUN
cblr-13858	1475	23	advisers	adviser	NOUN
cblr-13858	1475	24	.	.	PUNCT
cblr-13858	1476	1	6	6	NUM
cblr-13858	1476	2	the	the	DET
cblr-13858	1476	3	sec	sec	PROPN
cblr-13858	1476	4	staff	staff	NOUN
cblr-13858	1476	5	derives	derive	VERB
cblr-13858	1476	6	three	three	NUM
cblr-13858	1476	7	requirements	requirement	NOUN
cblr-13858	1476	8	from	from	ADP
cblr-13858	1476	9	lowe	lowe	PROPN
cblr-13858	1476	10	.	.	PUNCT
cblr-13858	1477	1	the	the	DET
cblr-13858	1477	2	publication	publication	NOUN
cblr-13858	1477	3	must	must	AUX
cblr-13858	1477	4	(	(	PUNCT
cblr-13858	1477	5	1	1	X
cblr-13858	1477	6	)	)	PUNCT
cblr-13858	1477	7	offer	offer	VERB
cblr-13858	1477	8	only	only	ADV
cblr-13858	1477	9	impersonalized	impersonalize	VERB
cblr-13858	1477	10	advice	advice	NOUN
cblr-13858	1477	11	,	,	PUNCT
cblr-13858	1477	12	i.e.	i.e.	X
cblr-13858	1477	13	,	,	PUNCT
cblr-13858	1477	14	advice	advice	NOUN
cblr-13858	1477	15	not	not	PART
cblr-13858	1477	16	tailored	tailor	VERB
cblr-13858	1477	17	to	to	ADP
cblr-13858	1477	18	the	the	DET
cblr-13858	1477	19	individual	individual	ADJ
cblr-13858	1477	20	needs	need	NOUN
cblr-13858	1477	21	of	of	ADP
cblr-13858	1477	22	a	a	DET
cblr-13858	1477	23	specific	specific	ADJ
cblr-13858	1477	24	client	client	NOUN
cblr-13858	1477	25	or	or	CCONJ
cblr-13858	1477	26	group	group	NOUN
cblr-13858	1477	27	of	of	ADP
cblr-13858	1477	28	clients	client	NOUN
cblr-13858	1477	29	;	;	PUNCT
cblr-13858	1477	30	(	(	PUNCT
cblr-13858	1477	31	2	2	X
cblr-13858	1477	32	)	)	PUNCT
cblr-13858	1477	33	be	be	AUX
cblr-13858	1477	34	"	"	PUNCT
cblr-13858	1477	35	bona	bona	ADJ
cblr-13858	1477	36	fide	fide	NOUN
cblr-13858	1477	37	"	"	PUNCT
cblr-13858	1477	38	or	or	CCONJ
cblr-13858	1477	39	genuine	genuine	ADJ
cblr-13858	1477	40	,	,	PUNCT
cblr-13858	1477	41	in	in	SCONJ
cblr-13858	1477	42	that	that	SCONJ
cblr-13858	1477	43	it	it	PRON
cblr-13858	1477	44	contains	contain	VERB
cblr-13858	1477	45	disinterested	disinterested	ADJ
cblr-13858	1477	46	commentary	commentary	NOUN
cblr-13858	1477	47	and	and	CCONJ
cblr-13858	1477	48	analysis	analysis	NOUN
cblr-13858	1477	49	as	as	SCONJ
cblr-13858	1477	50	opposed	oppose	VERB
cblr-13858	1477	51	to	to	ADP
cblr-13858	1477	52	promotional	promotional	ADJ
cblr-13858	1477	53	material	material	NOUN
cblr-13858	1477	54	;	;	PUNCT
cblr-13858	1477	55	and	and	CCONJ
cblr-13858	1477	56	(	(	PUNCT
cblr-13858	1477	57	3	3	X
cblr-13858	1477	58	)	)	PUNCT
cblr-13858	1477	59	be	be	AUX
cblr-13858	1477	60	of	of	ADP
cblr-13858	1477	61	general	general	ADJ
cblr-13858	1477	62	and	and	CCONJ
cblr-13858	1477	63	regular	regular	ADJ
cblr-13858	1477	64	circulation	circulation	NOUN
cblr-13858	1477	65	,	,	PUNCT
cblr-13858	1477	66	i.e.	i.e.	X
cblr-13858	1477	67	,	,	PUNCT
cblr-13858	1477	68	not	not	PART
cblr-13858	1477	69	timed	time	VERB
cblr-13858	1477	70	to	to	ADP
cblr-13858	1477	71	specific	specific	ADJ
cblr-13858	1477	72	market	market	NOUN
cblr-13858	1477	73	activity	activity	NOUN
cblr-13858	1477	74	or	or	CCONJ
cblr-13858	1477	75	to	to	ADP
cblr-13858	1477	76	events	event	NOUN
cblr-13858	1477	77	affecting	affect	VERB
cblr-13858	1477	78	or	or	CCONJ
cblr-13858	1477	79	having	have	VERB
cblr-13858	1477	80	the	the	DET
cblr-13858	1477	81	ability	ability	NOUN
cblr-13858	1477	82	to	to	PART
cblr-13858	1477	83	affect	affect	VERB
cblr-13858	1477	84	the	the	DET
cblr-13858	1477	85	securities	security	NOUN
cblr-13858	1477	86	industry.38	industry.38	NOUN
cblr-13858	1477	87	7	7	NUM
cblr-13858	1477	88	crowdfunding	crowdfunding	NOUN
cblr-13858	1477	89	sites	site	NOUN
cblr-13858	1477	90	clearly	clearly	ADV
cblr-13858	1477	91	do	do	AUX
cblr-13858	1477	92	not	not	PART
cblr-13858	1477	93	offer	offer	VERB
cblr-13858	1477	94	personalized	personalized	ADJ
cblr-13858	1477	95	investment	investment	NOUN
cblr-13858	1477	96	advice	advice	NOUN
cblr-13858	1477	97	.	.	PUNCT
cblr-13858	1478	1	everyone	everyone	PRON
cblr-13858	1478	2	who	who	PRON
cblr-13858	1478	3	enters	enter	VERB
cblr-13858	1478	4	a	a	DET
cblr-13858	1478	5	publicly	publicly	ADV
cblr-13858	1478	6	available	available	ADJ
cblr-13858	1478	7	crowdfunding	crowdfunding	NOUN
cblr-13858	1478	8	site	site	NOUN
cblr-13858	1478	9	receives	receive	VERB
cblr-13858	1478	10	exactly	exactly	ADV
cblr-13858	1478	11	the	the	DET
cblr-13858	1478	12	same	same	ADJ
cblr-13858	1478	13	information	information	NOUN
cblr-13858	1478	14	.	.	PUNCT
cblr-13858	1479	1	in	in	ADP
cblr-13858	1479	2	"	"	PUNCT
cblr-13858	1479	3	i	i	PRON
cblr-13858	1479	4	d.	d.	PROPN
cblr-13858	1479	5	at	at	ADP
cblr-13858	1479	6	208	208	NUM
cblr-13858	1479	7	.	.	PUNCT
cblr-13858	1479	8	prior	prior	ADV
cblr-13858	1479	9	to	to	ADP
cblr-13858	1479	10	lowe	lowe	PROPN
cblr-13858	1479	11	,	,	PUNCT
cblr-13858	1479	12	courts	court	NOUN
cblr-13858	1479	13	made	make	VERB
cblr-13858	1479	14	no	no	DET
cblr-13858	1479	15	distinction	distinction	NOUN
cblr-13858	1479	16	between	between	ADP
cblr-13858	1479	17	personal	personal	ADJ
cblr-13858	1479	18	and	and	CCONJ
cblr-13858	1479	19	impersonal	impersonal	ADJ
cblr-13858	1479	20	investment	investment	NOUN
cblr-13858	1479	21	advice	advice	NOUN
cblr-13858	1479	22	in	in	ADP
cblr-13858	1479	23	applying	apply	VERB
cblr-13858	1479	24	subsection	subsection	NOUN
cblr-13858	1479	25	(	(	PUNCT
cblr-13858	1479	26	d	d	NOUN
cblr-13858	1479	27	)	)	PUNCT
cblr-13858	1479	28	.	.	PUNCT
cblr-13858	1480	1	see	see	VERB
cblr-13858	1480	2	lani	lani	PROPN
cblr-13858	1480	3	m.	m.	PROPN
cblr-13858	1480	4	lee	lee	PROPN
cblr-13858	1480	5	,	,	PUNCT
cblr-13858	1480	6	the	the	DET
cblr-13858	1480	7	effects	effect	NOUN
cblr-13858	1480	8	of	of	ADP
cblr-13858	1480	9	lowe	lowe	NOUN
cblr-13858	1480	10	on	on	ADP
cblr-13858	1480	11	the	the	DET
cblr-13858	1480	12	application	application	NOUN
cblr-13858	1480	13	of	of	ADP
cblr-13858	1480	14	the	the	DET
cblr-13858	1480	15	investment	investment	NOUN
cblr-13858	1480	16	advisers	adviser	NOUN
cblr-13858	1480	17	act	act	VERB
cblr-13858	1480	18	of	of	ADP
cblr-13858	1480	19	1940	1940	NUM
cblr-13858	1480	20	to	to	ADP
cblr-13858	1480	21	impersonal	impersonal	ADJ
cblr-13858	1480	22	investment	investment	NOUN
cblr-13858	1480	23	advisory	advisory	NOUN
cblr-13858	1480	24	publications	publication	NOUN
cblr-13858	1480	25	,	,	PUNCT
cblr-13858	1480	26	42	42	NUM
cblr-13858	1480	27	bus	bus	NOUN
cblr-13858	1480	28	.	.	PUNCT
cblr-13858	1481	1	law	law	NOUN
cblr-13858	1481	2	.	.	PUNCT
cblr-13858	1482	1	507	507	NUM
cblr-13858	1482	2	,	,	PUNCT
cblr-13858	1482	3	507	507	NUM
cblr-13858	1482	4	(	(	PUNCT
cblr-13858	1482	5	1987	1987	NUM
cblr-13858	1482	6	)	)	PUNCT
cblr-13858	1482	7	.	.	PUNCT
cblr-13858	1483	1	385	385	NUM
cblr-13858	1483	2	lowe	lowe	PROPN
cblr-13858	1483	3	might	might	AUX
cblr-13858	1483	4	be	be	AUX
cblr-13858	1483	5	interpreted	interpret	VERB
cblr-13858	1483	6	to	to	PART
cblr-13858	1483	7	require	require	VERB
cblr-13858	1483	8	that	that	SCONJ
cblr-13858	1483	9	one	one	NUM
cblr-13858	1483	10	offer	offer	NOUN
cblr-13858	1483	11	personalized	personalized	ADJ
cblr-13858	1483	12	advice	advice	NOUN
cblr-13858	1483	13	to	to	PART
cblr-13858	1483	14	be	be	AUX
cblr-13858	1483	15	an	an	DET
cblr-13858	1483	16	investment	investment	NOUN
cblr-13858	1483	17	adviser	adviser	NOUN
cblr-13858	1483	18	at	at	ADV
cblr-13858	1483	19	all	all	ADV
cblr-13858	1483	20	,	,	PUNCT
cblr-13858	1483	21	but	but	CCONJ
cblr-13858	1483	22	the	the	DET
cblr-13858	1483	23	majority	majority	NOUN
cblr-13858	1483	24	opinion	opinion	NOUN
cblr-13858	1483	25	clearly	clearly	ADV
cblr-13858	1483	26	indicates	indicate	VERB
cblr-13858	1483	27	that	that	SCONJ
cblr-13858	1483	28	"	"	PUNCT
cblr-13858	1483	29	on	on	ADP
cblr-13858	1483	30	its	its	PRON
cblr-13858	1483	31	face	face	NOUN
cblr-13858	1483	32	,	,	PUNCT
cblr-13858	1483	33	the	the	DET
cblr-13858	1483	34	basic	basic	ADJ
cblr-13858	1483	35	definition	definition	NOUN
cblr-13858	1483	36	applies	apply	VERB
cblr-13858	1483	37	to	to	ADP
cblr-13858	1483	38	petitioners	petitioner	NOUN
cblr-13858	1483	39	.	.	PUNCT
cblr-13858	1483	40	"	"	PUNCT
cblr-13858	1484	1	lowe	lowe	NOUN
cblr-13858	1484	2	,	,	PUNCT
cblr-13858	1484	3	472	472	NUM
cblr-13858	1484	4	u.s	u.s	PROPN
cblr-13858	1484	5	.	.	PROPN
cblr-13858	1484	6	at	at	ADP
cblr-13858	1484	7	203	203	NUM
cblr-13858	1484	8	-	-	SYM
cblr-13858	1484	9	04	04	NUM
cblr-13858	1484	10	.	.	PUNCT
cblr-13858	1485	1	thus	thus	ADV
cblr-13858	1485	2	,	,	PUNCT
cblr-13858	1485	3	the	the	DET
cblr-13858	1485	4	better	well	ADJ
cblr-13858	1485	5	reading	reading	NOUN
cblr-13858	1485	6	is	be	AUX
cblr-13858	1485	7	that	that	SCONJ
cblr-13858	1485	8	the	the	DET
cblr-13858	1485	9	distinction	distinction	NOUN
cblr-13858	1485	10	between	between	ADP
cblr-13858	1485	11	personalized	personalized	ADJ
cblr-13858	1485	12	and	and	CCONJ
cblr-13858	1485	13	impersonal	impersonal	ADJ
cblr-13858	1485	14	advice	advice	NOUN
cblr-13858	1485	15	relates	relate	VERB
cblr-13858	1485	16	to	to	ADP
cblr-13858	1485	17	the	the	DET
cblr-13858	1485	18	publisher	publisher	NOUN
cblr-13858	1485	19	exception	exception	NOUN
cblr-13858	1485	20	.	.	PUNCT
cblr-13858	1486	1	see	see	VERB
cblr-13858	1486	2	david	david	PROPN
cblr-13858	1486	3	b.	b.	PROPN
cblr-13858	1486	4	levant	levant	PROPN
cblr-13858	1486	5	,	,	PUNCT
cblr-13858	1486	6	financial	financial	ADJ
cblr-13858	1486	7	columnists	columnist	NOUN
cblr-13858	1486	8	as	as	ADP
cblr-13858	1486	9	investment	investment	NOUN
cblr-13858	1486	10	advisers	adviser	NOUN
cblr-13858	1486	11	:	:	PUNCT
cblr-13858	1486	12	after	after	ADP
cblr-13858	1486	13	lowe	lowe	NOUN
cblr-13858	1486	14	and	and	CCONJ
cblr-13858	1486	15	carpenter	carpenter	PROPN
cblr-13858	1486	16	,	,	PUNCT
cblr-13858	1486	17	74	74	NUM
cblr-13858	1486	18	cal	cal	NOUN
cblr-13858	1486	19	.	.	PUNCT
cblr-13858	1487	1	l.	l.	PROPN
cblr-13858	1487	2	rev	rev	PROPN
cblr-13858	1487	3	.	.	PROPN
cblr-13858	1487	4	2061	2061	NUM
cblr-13858	1487	5	,	,	PUNCT
cblr-13858	1487	6	2093	2093	NUM
cblr-13858	1487	7	(	(	PUNCT
cblr-13858	1487	8	1986	1986	NUM
cblr-13858	1487	9	)	)	PUNCT
cblr-13858	1487	10	.	.	PUNCT
cblr-13858	1488	1	see	see	VERB
cblr-13858	1488	2	also	also	ADV
cblr-13858	1488	3	sec	sec	PROPN
cblr-13858	1488	4	v.	v.	PROPN
cblr-13858	1488	5	park	park	PROPN
cblr-13858	1488	6	,	,	PUNCT
cblr-13858	1488	7	99	99	NUM
cblr-13858	1488	8	f.	f.	PROPN
cblr-13858	1488	9	supp	supp	PROPN
cblr-13858	1488	10	.	.	PUNCT
cblr-13858	1489	1	2d	2d	PROPN
cblr-13858	1489	2	889	889	NUM
cblr-13858	1489	3	,	,	PUNCT
cblr-13858	1489	4	894	894	NUM
cblr-13858	1489	5	-	-	SYM
cblr-13858	1489	6	95	95	NUM
cblr-13858	1489	7	(	(	PUNCT
cblr-13858	1489	8	n.d	n.d	PROPN
cblr-13858	1489	9	.	.	PROPN
cblr-13858	1489	10	ill	ill	PROPN
cblr-13858	1489	11	.	.	PROPN
cblr-13858	1489	12	2000	2000	NUM
cblr-13858	1489	13	)	)	PUNCT
cblr-13858	1490	1	(	(	PUNCT
cblr-13858	1490	2	holding	hold	VERB
cblr-13858	1490	3	that	that	DET
cblr-13858	1490	4	publications	publication	NOUN
cblr-13858	1490	5	that	that	PRON
cblr-13858	1490	6	do	do	AUX
cblr-13858	1490	7	not	not	PART
cblr-13858	1490	8	offer	offer	VERB
cblr-13858	1490	9	personalized	personalized	ADJ
cblr-13858	1490	10	advice	advice	NOUN
cblr-13858	1490	11	could	could	AUX
cblr-13858	1490	12	still	still	ADV
cblr-13858	1490	13	be	be	AUX
cblr-13858	1490	14	investment	investment	NOUN
cblr-13858	1490	15	advisers	adviser	NOUN
cblr-13858	1490	16	if	if	SCONJ
cblr-13858	1490	17	the	the	DET
cblr-13858	1490	18	publications	publication	NOUN
cblr-13858	1490	19	are	be	AUX
cblr-13858	1490	20	not	not	PART
cblr-13858	1490	21	bona	bona	ADJ
cblr-13858	1490	22	fide	fide	ADJ
cblr-13858	1490	23	)	)	PUNCT
cblr-13858	1490	24	.	.	PUNCT
cblr-13858	1491	1	38	38	NUM
cblr-13858	1491	2	.	.	PUNCT
cblr-13858	1492	1	see	see	VERB
cblr-13858	1492	2	compuware	compuware	PROPN
cblr-13858	1492	3	corp	corp	PROPN
cblr-13858	1492	4	.	.	PROPN
cblr-13858	1493	1	v.	v.	ADP
cblr-13858	1493	2	moody	moody	PROPN
cblr-13858	1493	3	's	's	PART
cblr-13858	1493	4	investors	investor	NOUN
cblr-13858	1493	5	servs	servs	PROPN
cblr-13858	1493	6	.	.	PROPN
cblr-13858	1493	7	,	,	PUNCT
cblr-13858	1493	8	inc	inc	PROPN
cblr-13858	1493	9	.	.	PROPN
cblr-13858	1493	10	,	,	PUNCT
cblr-13858	1493	11	273	273	NUM
cblr-13858	1493	12	f.	f.	PROPN
cblr-13858	1493	13	supp	supp	PROPN
cblr-13858	1493	14	.	.	PUNCT
cblr-13858	1494	1	2d	2d	PROPN
cblr-13858	1494	2	914	914	NUM
cblr-13858	1494	3	,	,	PUNCT
cblr-13858	1494	4	916	916	NUM
cblr-13858	1494	5	(	(	PUNCT
cblr-13858	1494	6	e.d	e.d	PROPN
cblr-13858	1494	7	.	.	PROPN
cblr-13858	1494	8	mich	mich	PROPN
cblr-13858	1494	9	.	.	PROPN
cblr-13858	1494	10	2002	2002	NUM
cblr-13858	1494	11	)	)	PUNCT
cblr-13858	1494	12	;	;	PUNCT
cblr-13858	1494	13	sec	sec	PROPN
cblr-13858	1494	14	v.	v.	PROPN
cblr-13858	1494	15	wall	wall	PROPN
cblr-13858	1494	16	st	st	PROPN
cblr-13858	1494	17	.	.	PROPN
cblr-13858	1494	18	publ'g	publ'g	PROPN
cblr-13858	1494	19	inst	inst	PROPN
cblr-13858	1494	20	.	.	PROPN
cblr-13858	1494	21	,	,	PUNCT
cblr-13858	1494	22	664	664	NUM
cblr-13858	1494	23	f.	f.	PROPN
cblr-13858	1494	24	supp	supp	PROPN
cblr-13858	1494	25	.	.	PUNCT
cblr-13858	1495	1	554	554	NUM
cblr-13858	1495	2	,	,	PUNCT
cblr-13858	1495	3	555	555	NUM
cblr-13858	1495	4	(	(	PUNCT
cblr-13858	1495	5	d.d.c	d.d.c	PROPN
cblr-13858	1495	6	.	.	PROPN
cblr-13858	1495	7	1986	1986	NUM
cblr-13858	1495	8	)	)	PUNCT
cblr-13858	1495	9	.	.	PUNCT
cblr-13858	1495	10	...	...	PUNCT
cblr-13858	1496	1	nito	nito	PROPN
cblr-13858	1496	2	gmbh	gmbh	PROPN
cblr-13858	1496	3	,	,	PUNCT
cblr-13858	1496	4	sec	sec	PROPN
cblr-13858	1496	5	no	no	DET
cblr-13858	1496	6	-	-	PUNCT
cblr-13858	1496	7	action	action	NOUN
cblr-13858	1496	8	letter	letter	NOUN
cblr-13858	1496	9	,	,	PUNCT
cblr-13858	1496	10	1996	1996	NUM
cblr-13858	1496	11	wl	wl	ADP
cblr-13858	1496	12	473433	473433	NUM
cblr-13858	1496	13	,	,	PUNCT
cblr-13858	1496	14	at	at	ADP
cblr-13858	1496	15	*	*	PROPN
cblr-13858	1496	16	1-*2	1-*2	NUM
cblr-13858	1496	17	(	(	PUNCT
cblr-13858	1496	18	aug	aug	PROPN
cblr-13858	1496	19	.	.	PROPN
cblr-13858	1496	20	9	9	NUM
cblr-13858	1496	21	,	,	PUNCT
cblr-13858	1496	22	1996	1996	NUM
cblr-13858	1496	23	)	)	PUNCT
cblr-13858	1496	24	.	.	PUNCT
cblr-13858	1497	1	see	see	VERB
cblr-13858	1497	2	also	also	ADV
cblr-13858	1497	3	,	,	PUNCT
cblr-13858	1497	4	e.g.	e.g.	ADV
cblr-13858	1497	5	,	,	PUNCT
cblr-13858	1497	6	mr	mr	PROPN
cblr-13858	1497	7	.	.	PROPN
cblr-13858	1497	8	russell	russell	PROPN
cblr-13858	1497	9	h.	h.	PROPN
cblr-13858	1497	10	smith	smith	PROPN
cblr-13858	1497	11	,	,	PUNCT
cblr-13858	1497	12	sec	sec	PROPN
cblr-13858	1497	13	no	no	DET
cblr-13858	1497	14	-	-	PUNCT
cblr-13858	1497	15	action	action	NOUN
cblr-13858	1497	16	letter	letter	NOUN
cblr-13858	1497	17	,	,	PUNCT
cblr-13858	1497	18	1996	1996	NUM
cblr-13858	1497	19	wl	wl	ADP
cblr-13858	1497	20	282564	282564	NUM
cblr-13858	1497	21	,	,	PUNCT
cblr-13858	1497	22	at	at	ADP
cblr-13858	1497	23	*	*	NOUN
cblr-13858	1497	24	2	2	NUM
cblr-13858	1497	25	(	(	PUNCT
cblr-13858	1497	26	may	may	PROPN
cblr-13858	1497	27	2	2	NUM
cblr-13858	1497	28	,	,	PUNCT
cblr-13858	1497	29	1996	1996	NUM
cblr-13858	1497	30	)	)	PUNCT
cblr-13858	1497	31	;	;	PUNCT
cblr-13858	1497	32	intouch	intouch	NOUN
cblr-13858	1497	33	global	global	PROPN
cblr-13858	1497	34	,	,	PUNCT
cblr-13858	1497	35	llc	llc	PROPN
cblr-13858	1497	36	,	,	PUNCT
cblr-13858	1497	37	sec	sec	PROPN
cblr-13858	1497	38	noaction	noaction	NOUN
cblr-13858	1497	39	letter	letter	NOUN
cblr-13858	1497	40	,	,	PUNCT
cblr-13858	1497	41	1995	1995	NUM
cblr-13858	1497	42	wl	wl	SYM
cblr-13858	1497	43	693301	693301	NUM
cblr-13858	1497	44	,	,	PUNCT
cblr-13858	1497	45	at	at	ADP
cblr-13858	1497	46	*	*	NOUN
cblr-13858	1497	47	2	2	NUM
cblr-13858	1497	48	(	(	PUNCT
cblr-13858	1497	49	nov	nov	PROPN
cblr-13858	1497	50	.	.	PROPN
cblr-13858	1497	51	14	14	NUM
cblr-13858	1497	52	,	,	PUNCT
cblr-13858	1497	53	1995	1995	NUM
cblr-13858	1497	54	)	)	PUNCT
cblr-13858	1497	55	;	;	PUNCT
cblr-13858	1497	56	david	david	PROPN
cblr-13858	1497	57	parkinson	parkinson	PROPN
cblr-13858	1497	58	,	,	PUNCT
cblr-13858	1497	59	ph.d	ph.d	PROPN
cblr-13858	1497	60	.	.	PROPN
cblr-13858	1497	61	,	,	PUNCT
cblr-13858	1497	62	sec	sec	PROPN
cblr-13858	1497	63	no	no	DET
cblr-13858	1497	64	-	-	PUNCT
cblr-13858	1497	65	action	action	NOUN
cblr-13858	1497	66	letter	letter	NOUN
cblr-13858	1497	67	,	,	PUNCT
cblr-13858	1497	68	1995	1995	NUM
cblr-13858	1497	69	wl	wl	NOUN
cblr-13858	1497	70	619930	619930	NUM
cblr-13858	1497	71	,	,	PUNCT
cblr-13858	1497	72	at	at	ADP
cblr-13858	1497	73	*	*	NOUN
cblr-13858	1497	74	1	1	NUM
cblr-13858	1497	75	(	(	PUNCT
cblr-13858	1497	76	oct	oct	PROPN
cblr-13858	1497	77	.	.	PROPN
cblr-13858	1497	78	19	19	NUM
cblr-13858	1497	79	,	,	PUNCT
cblr-13858	1497	80	1995	1995	NUM
cblr-13858	1497	81	)	)	PUNCT
cblr-13858	1497	82	.	.	PUNCT
cblr-13858	1498	1	78	78	NUM
cblr-13858	1499	1	[	[	X
cblr-13858	1499	2	vol	vol	NOUN
cblr-13858	1499	3	.	.	PUNCT
cblr-13858	1499	4	2012	2012	NUM
cblr-13858	1499	5	fact	fact	NOUN
cblr-13858	1499	6	,	,	PUNCT
cblr-13858	1499	7	unlike	unlike	ADP
cblr-13858	1499	8	most	most	ADJ
cblr-13858	1499	9	of	of	ADP
cblr-13858	1499	10	the	the	DET
cblr-13858	1499	11	electronic	electronic	ADJ
cblr-13858	1499	12	matching	matching	NOUN
cblr-13858	1499	13	services	service	NOUN
cblr-13858	1499	14	,	,	PUNCT
cblr-13858	1499	15	most	most	ADJ
cblr-13858	1499	16	crowdfunding	crowdfunding	NOUN
cblr-13858	1499	17	sites	site	NOUN
cblr-13858	1499	18	do	do	AUX
cblr-13858	1499	19	not	not	PART
cblr-13858	1499	20	even	even	ADV
cblr-13858	1499	21	attempt	attempt	VERB
cblr-13858	1499	22	to	to	PART
cblr-13858	1499	23	collect	collect	VERB
cblr-13858	1499	24	information	information	NOUN
cblr-13858	1499	25	about	about	ADP
cblr-13858	1499	26	investors	investor	NOUN
cblr-13858	1499	27	that	that	PRON
cblr-13858	1499	28	would	would	AUX
cblr-13858	1499	29	allow	allow	VERB
cblr-13858	1499	30	them	they	PRON
cblr-13858	1499	31	to	to	PART
cblr-13858	1499	32	match	match	VERB
cblr-13858	1499	33	investors	investor	NOUN
cblr-13858	1499	34	to	to	ADP
cblr-13858	1499	35	particular	particular	ADJ
cblr-13858	1499	36	offerings	offering	NOUN
cblr-13858	1499	37	.	.	PUNCT
cblr-13858	1500	1	therefore	therefore	ADV
cblr-13858	1500	2	,	,	PUNCT
cblr-13858	1500	3	crowdfunding	crowdfunde	VERB
cblr-13858	1500	4	sites	site	NOUN
cblr-13858	1500	5	would	would	AUX
cblr-13858	1500	6	fall	fall	VERB
cblr-13858	1500	7	within	within	ADP
cblr-13858	1500	8	the	the	DET
cblr-13858	1500	9	publisher	publisher	NOUN
cblr-13858	1500	10	exception	exception	NOUN
cblr-13858	1500	11	if	if	SCONJ
cblr-13858	1500	12	they	they	PRON
cblr-13858	1500	13	are	be	AUX
cblr-13858	1500	14	"	"	PUNCT
cblr-13858	1500	15	bona	bona	ADJ
cblr-13858	1500	16	fide	fide	NOUN
cblr-13858	1500	17	"	"	PUNCT
cblr-13858	1500	18	and	and	CCONJ
cblr-13858	1500	19	"	"	PUNCT
cblr-13858	1500	20	of	of	ADP
cblr-13858	1500	21	general	general	ADJ
cblr-13858	1500	22	and	and	CCONJ
cblr-13858	1500	23	regular	regular	ADJ
cblr-13858	1500	24	circulation	circulation	NOUN
cblr-13858	1500	25	.	.	PUNCT
cblr-13858	1501	1	"	"	PUNCT
cblr-13858	1501	2	"	"	PUNCT
cblr-13858	1501	3	'	'	PUNCT
cblr-13858	1501	4	these	these	DET
cblr-13858	1501	5	two	two	NUM
cblr-13858	1501	6	requirements	requirement	NOUN
cblr-13858	1501	7	,	,	PUNCT
cblr-13858	1501	8	according	accord	VERB
cblr-13858	1501	9	to	to	ADP
cblr-13858	1501	10	lowe	lowe	PROPN
cblr-13858	1501	11	,	,	PUNCT
cblr-13858	1501	12	are	be	AUX
cblr-13858	1501	13	designed	design	VERB
cblr-13858	1501	14	to	to	PART
cblr-13858	1501	15	eliminate	eliminate	VERB
cblr-13858	1501	16	"	"	PUNCT
cblr-13858	1501	17	hit	hit	VERB
cblr-13858	1501	18	and	and	CCONJ
cblr-13858	1501	19	run	run	VERB
cblr-13858	1501	20	tipsters	tipster	NOUN
cblr-13858	1501	21	"	"	PUNCT
cblr-13858	1501	22	and	and	CCONJ
cblr-13858	1501	23	"	"	PUNCT
cblr-13858	1501	24	touts	tout	NOUN
cblr-13858	1501	25	"	"	PUNCT
cblr-13858	1501	26	from	from	ADP
cblr-13858	1501	27	using	use	VERB
cblr-13858	1501	28	the	the	DET
cblr-13858	1501	29	exception.8	exception.8	PROPN
cblr-13858	1501	30	9	9	NUM
cblr-13858	1501	31	in	in	ADP
cblr-13858	1501	32	the	the	DET
cblr-13858	1501	33	court	court	NOUN
cblr-13858	1501	34	's	's	PART
cblr-13858	1501	35	view	view	NOUN
cblr-13858	1501	36	,	,	PUNCT
cblr-13858	1501	37	the	the	DET
cblr-13858	1501	38	exception	exception	NOUN
cblr-13858	1501	39	is	be	AUX
cblr-13858	1501	40	intended	intend	VERB
cblr-13858	1501	41	for	for	ADP
cblr-13858	1501	42	publications	publication	NOUN
cblr-13858	1501	43	that	that	SCONJ
cblr-13858	1501	44	"	"	PUNCT
cblr-13858	1501	45	contain	contain	VERB
cblr-13858	1501	46	disinterested	disinterested	ADJ
cblr-13858	1501	47	commentary	commentary	NOUN
cblr-13858	1501	48	and	and	CCONJ
cblr-13858	1501	49	analysis	analysis	NOUN
cblr-13858	1501	50	as	as	SCONJ
cblr-13858	1501	51	opposed	oppose	VERB
cblr-13858	1501	52	to	to	ADP
cblr-13858	1501	53	promotional	promotional	ADJ
cblr-13858	1501	54	material	material	NOUN
cblr-13858	1501	55	disseminated	disseminate	VERB
cblr-13858	1501	56	by	by	ADP
cblr-13858	1501	57	a	a	DET
cblr-13858	1501	58	'	'	PUNCT
cblr-13858	1501	59	tout	tout	NOUN
cblr-13858	1501	60	.	.	PUNCT
cblr-13858	1501	61	"'9	"'9	X
cblr-13858	1502	1	o	o	NOUN
cblr-13858	1502	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1502	3	sites	site	NOUN
cblr-13858	1502	4	are	be	AUX
cblr-13858	1502	5	not	not	PART
cblr-13858	1502	6	designed	design	VERB
cblr-13858	1502	7	to	to	PART
cblr-13858	1502	8	tout	tout	VERB
cblr-13858	1502	9	particular	particular	ADJ
cblr-13858	1502	10	stocks	stock	NOUN
cblr-13858	1502	11	or	or	CCONJ
cblr-13858	1502	12	issues	issue	NOUN
cblr-13858	1502	13	;	;	PUNCT
cblr-13858	1502	14	rather	rather	ADV
cblr-13858	1502	15	,	,	PUNCT
cblr-13858	1502	16	they	they	PRON
cblr-13858	1502	17	are	be	AUX
cblr-13858	1502	18	open	open	ADJ
cblr-13858	1502	19	to	to	ADP
cblr-13858	1502	20	any	any	DET
cblr-13858	1502	21	entrepreneur	entrepreneur	NOUN
cblr-13858	1502	22	who	who	PRON
cblr-13858	1502	23	wishes	wish	VERB
cblr-13858	1502	24	to	to	PART
cblr-13858	1502	25	raise	raise	VERB
cblr-13858	1502	26	money	money	NOUN
cblr-13858	1502	27	.	.	PUNCT
cblr-13858	1503	1	moreover	moreover	ADV
cblr-13858	1503	2	,	,	PUNCT
cblr-13858	1503	3	they	they	PRON
cblr-13858	1503	4	are	be	AUX
cblr-13858	1503	5	not	not	PART
cblr-13858	1503	6	"	"	PUNCT
cblr-13858	1503	7	personal	personal	ADJ
cblr-13858	1503	8	communications	communication	NOUN
cblr-13858	1503	9	masquerading	masquerade	VERB
cblr-13858	1503	10	in	in	ADP
cblr-13858	1503	11	the	the	DET
cblr-13858	1503	12	clothing	clothing	NOUN
cblr-13858	1503	13	of	of	ADP
cblr-13858	1503	14	'	'	PUNCT
cblr-13858	1503	15	general	general	ADJ
cblr-13858	1503	16	publications.3	publications.3	NOUN
cblr-13858	1503	17	9	9	NUM
cblr-13858	1503	18	'	'	PUNCT
cblr-13858	1503	19	every	every	DET
cblr-13858	1503	20	investor	investor	NOUN
cblr-13858	1503	21	who	who	PRON
cblr-13858	1503	22	logs	log	VERB
cblr-13858	1503	23	on	on	ADP
cblr-13858	1503	24	receives	receive	VERB
cblr-13858	1503	25	exactly	exactly	ADV
cblr-13858	1503	26	the	the	DET
cblr-13858	1503	27	same	same	ADJ
cblr-13858	1503	28	content	content	NOUN
cblr-13858	1503	29	.	.	PUNCT
cblr-13858	1504	1	however	however	ADV
cblr-13858	1504	2	,	,	PUNCT
cblr-13858	1504	3	the	the	DET
cblr-13858	1504	4	materials	material	NOUN
cblr-13858	1504	5	on	on	ADP
cblr-13858	1504	6	crowdfunding	crowdfunding	NOUN
cblr-13858	1504	7	sites	site	NOUN
cblr-13858	1504	8	are	be	AUX
cblr-13858	1504	9	not	not	PART
cblr-13858	1504	10	"	"	PUNCT
cblr-13858	1504	11	disinterested	disinterested	ADJ
cblr-13858	1504	12	commentary"-they	commentary"-they	PROPN
cblr-13858	1504	13	are	be	AUX
cblr-13858	1504	14	intended	intend	VERB
cblr-13858	1504	15	to	to	PART
cblr-13858	1504	16	be	be	AUX
cblr-13858	1504	17	"	"	PUNCT
cblr-13858	1504	18	promotional	promotional	ADJ
cblr-13858	1504	19	.	.	PUNCT
cblr-13858	1504	20	"	"	PUNCT
cblr-13858	1505	1	the	the	DET
cblr-13858	1505	2	whole	whole	ADJ
cblr-13858	1505	3	point	point	NOUN
cblr-13858	1505	4	of	of	ADP
cblr-13858	1505	5	the	the	DET
cblr-13858	1505	6	entrepreneurs	entrepreneur	NOUN
cblr-13858	1505	7	'	'	PART
cblr-13858	1505	8	postings	posting	NOUN
cblr-13858	1505	9	is	be	AUX
cblr-13858	1505	10	to	to	PART
cblr-13858	1505	11	convince	convince	VERB
cblr-13858	1505	12	people	people	NOUN
cblr-13858	1505	13	to	to	PART
cblr-13858	1505	14	invest	invest	VERB
cblr-13858	1505	15	in	in	ADP
cblr-13858	1505	16	their	their	PRON
cblr-13858	1505	17	businesses	business	NOUN
cblr-13858	1505	18	,	,	PUNCT
cblr-13858	1505	19	and	and	CCONJ
cblr-13858	1505	20	the	the	DET
cblr-13858	1505	21	crowdfunding	crowdfunding	NOUN
cblr-13858	1505	22	sites	site	NOUN
cblr-13858	1505	23	themselves	themselves	PRON
cblr-13858	1505	24	,	,	PUNCT
cblr-13858	1505	25	which	which	PRON
cblr-13858	1505	26	receive	receive	VERB
cblr-13858	1505	27	transaction	transaction	NOUN
cblr-13858	1505	28	-	-	PUNCT
cblr-13858	1505	29	based	base	VERB
cblr-13858	1505	30	compensation	compensation	NOUN
cblr-13858	1505	31	,	,	PUNCT
cblr-13858	1505	32	have	have	VERB
cblr-13858	1505	33	a	a	DET
cblr-13858	1505	34	pecuniary	pecuniary	ADJ
cblr-13858	1505	35	interest	interest	NOUN
cblr-13858	1505	36	in	in	ADP
cblr-13858	1505	37	investors	investor	NOUN
cblr-13858	1505	38	following	follow	VERB
cblr-13858	1505	39	that	that	SCONJ
cblr-13858	1505	40	"	"	PUNCT
cblr-13858	1505	41	advice	advice	NOUN
cblr-13858	1505	42	.	.	PUNCT
cblr-13858	1505	43	"	"	PUNCT
cblr-13858	1506	1	this	this	PRON
cblr-13858	1506	2	alone	alone	ADV
cblr-13858	1506	3	may	may	AUX
cblr-13858	1506	4	be	be	AUX
cblr-13858	1506	5	sufficient	sufficient	ADJ
cblr-13858	1506	6	to	to	PART
cblr-13858	1506	7	preclude	preclude	VERB
cblr-13858	1506	8	application	application	NOUN
cblr-13858	1506	9	of	of	ADP
cblr-13858	1506	10	the	the	DET
cblr-13858	1506	11	publisher	publisher	NOUN
cblr-13858	1506	12	exception	exception	NOUN
cblr-13858	1506	13	.	.	PUNCT
cblr-13858	1507	1	'9	'9	NOUN
cblr-13858	1507	2	2	2	NUM
cblr-13858	1507	3	"	"	PUNCT
cblr-13858	1507	4	see	see	VERB
cblr-13858	1507	5	investment	investment	NOUN
cblr-13858	1507	6	advisers	adviser	NOUN
cblr-13858	1507	7	act	act	VERB
cblr-13858	1507	8	of	of	ADP
cblr-13858	1507	9	1940	1940	NUM
cblr-13858	1507	10	§	§	PROPN
cblr-13858	1507	11	80b-2(a)(11)(d	80b-2(a)(11)(d	NUM
cblr-13858	1507	12	)	)	PUNCT
cblr-13858	1507	13	,	,	PUNCT
cblr-13858	1507	14	15	15	NUM
cblr-13858	1507	15	u.s.c	u.s.c	NOUN
cblr-13858	1507	16	.	.	PUNCT
cblr-13858	1508	1	§	§	PROPN
cblr-13858	1508	2	80b-2(a)(11)(d	80b-2(a)(11)(d	NUM
cblr-13858	1508	3	)	)	PUNCT
cblr-13858	1508	4	(	(	PUNCT
cblr-13858	1508	5	2006	2006	NUM
cblr-13858	1508	6	)	)	PUNCT
cblr-13858	1508	7	.	.	PUNCT
cblr-13858	1509	1	"	"	PUNCT
cblr-13858	1509	2	lowe	lowe	NOUN
cblr-13858	1509	3	,	,	PUNCT
cblr-13858	1509	4	472	472	NUM
cblr-13858	1509	5	u.s	u.s	PROPN
cblr-13858	1509	6	.	.	PROPN
cblr-13858	1509	7	at	at	ADP
cblr-13858	1509	8	206	206	NUM
cblr-13858	1509	9	.	.	PUNCT
cblr-13858	1509	10	390	390	NUM
cblr-13858	1510	1	i	i	PRON
cblr-13858	1510	2	d.	d.	PROPN
cblr-13858	1510	3	391	391	NUM
cblr-13858	1511	1	i	i	PRON
cblr-13858	1511	2	d.	d.	PROPN
cblr-13858	1511	3	at	at	ADP
cblr-13858	1511	4	209	209	NUM
cblr-13858	1511	5	.	.	PUNCT
cblr-13858	1511	6	"	"	PUNCT
cblr-13858	1511	7	see	see	VERB
cblr-13858	1511	8	sec	sec	PROPN
cblr-13858	1511	9	v.	v.	ADP
cblr-13858	1511	10	laurins	laurin	NOUN
cblr-13858	1511	11	,	,	PUNCT
cblr-13858	1511	12	no	no	INTJ
cblr-13858	1511	13	.	.	NOUN
cblr-13858	1511	14	89	89	NUM
cblr-13858	1511	15	-	-	SYM
cblr-13858	1511	16	16708	16708	NUM
cblr-13858	1511	17	,	,	PUNCT
cblr-13858	1511	18	1991	1991	NUM
cblr-13858	1511	19	wl	wl	NOUN
cblr-13858	1511	20	57933	57933	NUM
cblr-13858	1511	21	,	,	PUNCT
cblr-13858	1511	22	at	at	ADP
cblr-13858	1511	23	*	*	NOUN
cblr-13858	1511	24	2	2	NUM
cblr-13858	1511	25	(	(	PUNCT
cblr-13858	1511	26	9th	9th	ADJ
cblr-13858	1511	27	cir	cir	NOUN
cblr-13858	1511	28	.	.	PUNCT
cblr-13858	1512	1	apr	apr	PROPN
cblr-13858	1512	2	.	.	PROPN
cblr-13858	1513	1	16	16	NUM
cblr-13858	1513	2	,	,	PUNCT
cblr-13858	1513	3	1991	1991	NUM
cblr-13858	1513	4	)	)	PUNCT
cblr-13858	1514	1	(	(	PUNCT
cblr-13858	1514	2	where	where	SCONJ
cblr-13858	1514	3	the	the	DET
cblr-13858	1514	4	publisher	publisher	NOUN
cblr-13858	1514	5	of	of	ADP
cblr-13858	1514	6	an	an	DET
cblr-13858	1514	7	investment	investment	NOUN
cblr-13858	1514	8	report	report	NOUN
cblr-13858	1514	9	had	have	VERB
cblr-13858	1514	10	an	an	DET
cblr-13858	1514	11	undisclosed	undisclosed	ADJ
cblr-13858	1514	12	pecuniary	pecuniary	ADJ
cblr-13858	1514	13	interest	interest	NOUN
cblr-13858	1514	14	in	in	ADP
cblr-13858	1514	15	the	the	DET
cblr-13858	1514	16	advice	advice	NOUN
cblr-13858	1514	17	contained	contain	VERB
cblr-13858	1514	18	in	in	ADP
cblr-13858	1514	19	the	the	DET
cblr-13858	1514	20	report	report	NOUN
cblr-13858	1514	21	,	,	PUNCT
cblr-13858	1514	22	the	the	DET
cblr-13858	1514	23	publication	publication	NOUN
cblr-13858	1514	24	was	be	AUX
cblr-13858	1514	25	not	not	PART
cblr-13858	1514	26	bona	bona	ADJ
cblr-13858	1514	27	fide	fide	ADJ
cblr-13858	1514	28	,	,	PUNCT
cblr-13858	1514	29	and	and	CCONJ
cblr-13858	1514	30	the	the	DET
cblr-13858	1514	31	publisher	publisher	NOUN
cblr-13858	1514	32	therefore	therefore	ADV
cblr-13858	1514	33	was	be	AUX
cblr-13858	1514	34	an	an	DET
cblr-13858	1514	35	investment	investment	NOUN
cblr-13858	1514	36	adviser	adviser	NOUN
cblr-13858	1514	37	)	)	PUNCT
cblr-13858	1514	38	;	;	PUNCT
cblr-13858	1514	39	sec	sec	PROPN
cblr-13858	1514	40	v.	v.	PROPN
cblr-13858	1514	41	park	park	PROPN
cblr-13858	1514	42	,	,	PUNCT
cblr-13858	1514	43	99	99	NUM
cblr-13858	1514	44	f.	f.	PROPN
cblr-13858	1514	45	supp	supp	PROPN
cblr-13858	1514	46	.	.	PUNCT
cblr-13858	1515	1	2d	2d	PROPN
cblr-13858	1515	2	889	889	NUM
cblr-13858	1515	3	,	,	PUNCT
cblr-13858	1515	4	894	894	NUM
cblr-13858	1515	5	(	(	PUNCT
cblr-13858	1515	6	n.d	n.d	PROPN
cblr-13858	1515	7	.	.	PROPN
cblr-13858	1515	8	ill	ill	PROPN
cblr-13858	1515	9	.	.	PROPN
cblr-13858	1515	10	2000	2000	NUM
cblr-13858	1515	11	)	)	PUNCT
cblr-13858	1515	12	(	(	PUNCT
cblr-13858	1515	13	publication	publication	NOUN
cblr-13858	1515	14	may	may	AUX
cblr-13858	1515	15	not	not	PART
cblr-13858	1515	16	be	be	AUX
cblr-13858	1515	17	bona	bona	ADJ
cblr-13858	1515	18	fide	fide	ADJ
cblr-13858	1515	19	,	,	PUNCT
cblr-13858	1515	20	and	and	CCONJ
cblr-13858	1515	21	therefore	therefore	ADV
cblr-13858	1515	22	may	may	AUX
cblr-13858	1515	23	not	not	PART
cblr-13858	1515	24	be	be	AUX
cblr-13858	1515	25	entitled	entitle	VERB
cblr-13858	1515	26	to	to	ADP
cblr-13858	1515	27	the	the	DET
cblr-13858	1515	28	publisher	publisher	NOUN
cblr-13858	1515	29	exception	exception	NOUN
cblr-13858	1515	30	,	,	PUNCT
cblr-13858	1515	31	where	where	SCONJ
cblr-13858	1515	32	the	the	DET
cblr-13858	1515	33	defendants	defendant	NOUN
cblr-13858	1515	34	were	be	AUX
cblr-13858	1515	35	promoting	promote	VERB
cblr-13858	1515	36	stocks	stock	NOUN
cblr-13858	1515	37	"	"	PUNCT
cblr-13858	1515	38	in	in	ADP
cblr-13858	1515	39	which	which	PRON
cblr-13858	1515	40	they	they	PRON
cblr-13858	1515	41	either	either	CCONJ
cblr-13858	1515	42	had	have	VERB
cblr-13858	1515	43	an	an	DET
cblr-13858	1515	44	interest	interest	NOUN
cblr-13858	1515	45	or	or	CCONJ
cblr-13858	1515	46	for	for	ADP
cblr-13858	1515	47	which	which	PRON
cblr-13858	1515	48	they	they	PRON
cblr-13858	1515	49	were	be	AUX
cblr-13858	1515	50	being	be	AUX
cblr-13858	1515	51	paid	pay	VERB
cblr-13858	1515	52	to	to	PART
cblr-13858	1515	53	recommend	recommend	VERB
cblr-13858	1515	54	without	without	ADP
cblr-13858	1515	55	revealing	reveal	VERB
cblr-13858	1515	56	their	their	PRON
cblr-13858	1515	57	interests	interest	NOUN
cblr-13858	1515	58	"	"	PUNCT
cblr-13858	1515	59	)	)	PUNCT
cblr-13858	1515	60	.	.	PUNCT
cblr-13858	1516	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1516	2	and	and	CCONJ
cblr-13858	1516	3	securities	security	NOUN
cblr-13858	1516	4	laws	law	NOUN
cblr-13858	1516	5	79	79	NUM
cblr-13858	1517	1	no	no	NOUN
cblr-13858	1517	2	.	.	NOUN
cblr-13858	1518	1	1	1	NUM
cblr-13858	1518	2	:	:	SYM
cblr-13858	1518	3	1	1	NUM
cblr-13858	1518	4	]	]	PUNCT
cblr-13858	1518	5	unfortunately	unfortunately	ADV
cblr-13858	1518	6	,	,	PUNCT
cblr-13858	1518	7	the	the	DET
cblr-13858	1518	8	case	case	NOUN
cblr-13858	1518	9	law	law	NOUN
cblr-13858	1518	10	in	in	ADP
cblr-13858	1518	11	this	this	DET
cblr-13858	1518	12	area	area	NOUN
cblr-13858	1518	13	is	be	AUX
cblr-13858	1518	14	somewhat	somewhat	ADV
cblr-13858	1518	15	confused	confused	ADJ
cblr-13858	1518	16	.	.	PUNCT
cblr-13858	1519	1	one	one	NUM
cblr-13858	1519	2	district	district	NOUN
cblr-13858	1519	3	court	court	NOUN
cblr-13858	1519	4	opinion	opinion	NOUN
cblr-13858	1519	5	has	have	AUX
cblr-13858	1519	6	essentially	essentially	ADV
cblr-13858	1519	7	read	read	VERB
cblr-13858	1519	8	the	the	DET
cblr-13858	1519	9	"	"	PUNCT
cblr-13858	1519	10	bona	bona	ADJ
cblr-13858	1519	11	fide	fide	NOUN
cblr-13858	1519	12	"	"	PUNCT
cblr-13858	1519	13	requirement	requirement	NOUN
cblr-13858	1519	14	out	out	ADP
cblr-13858	1519	15	of	of	ADP
cblr-13858	1519	16	the	the	DET
cblr-13858	1519	17	lowe	lowe	PROPN
cblr-13858	1519	18	opinion	opinion	NOUN
cblr-13858	1519	19	,	,	PUNCT
cblr-13858	1519	20	holding	hold	VERB
cblr-13858	1519	21	that	that	SCONJ
cblr-13858	1519	22	publications	publication	NOUN
cblr-13858	1519	23	not	not	PART
cblr-13858	1519	24	offering	offer	VERB
cblr-13858	1519	25	individualized	individualized	ADJ
cblr-13858	1519	26	advice	advice	NOUN
cblr-13858	1519	27	were	be	AUX
cblr-13858	1519	28	not	not	PART
cblr-13858	1519	29	investment	investment	NOUN
cblr-13858	1519	30	advisers	adviser	NOUN
cblr-13858	1519	31	,	,	PUNCT
cblr-13858	1519	32	even	even	ADV
cblr-13858	1519	33	though	though	SCONJ
cblr-13858	1519	34	they	they	PRON
cblr-13858	1519	35	"	"	PUNCT
cblr-13858	1519	36	do	do	AUX
cblr-13858	1519	37	not	not	PART
cblr-13858	1519	38	contain	contain	VERB
cblr-13858	1519	39	completely	completely	ADV
cblr-13858	1519	40	disinterested	disinterested	ADJ
cblr-13858	1519	41	commentary	commentary	NOUN
cblr-13858	1519	42	,	,	PUNCT
cblr-13858	1519	43	and	and	CCONJ
cblr-13858	1519	44	do	do	AUX
cblr-13858	1519	45	contain	contain	VERB
cblr-13858	1519	46	promotional	promotional	ADJ
cblr-13858	1519	47	material	material	NOUN
cblr-13858	1519	48	.	.	PUNCT
cblr-13858	1520	1	"	"	PUNCT
cblr-13858	1520	2	"	"	PUNCT
cblr-13858	1520	3	'	'	PUNCT
cblr-13858	1520	4	another	another	DET
cblr-13858	1520	5	district	district	NOUN
cblr-13858	1520	6	court	court	NOUN
cblr-13858	1520	7	held	hold	VERB
cblr-13858	1520	8	that	that	SCONJ
cblr-13858	1520	9	a	a	DET
cblr-13858	1520	10	magazine	magazine	NOUN
cblr-13858	1520	11	was	be	AUX
cblr-13858	1520	12	a	a	DET
cblr-13858	1520	13	bona	bona	ADJ
cblr-13858	1520	14	fide	fide	ADJ
cblr-13858	1520	15	publication	publication	NOUN
cblr-13858	1520	16	that	that	PRON
cblr-13858	1520	17	fit	fit	VERB
cblr-13858	1520	18	within	within	ADP
cblr-13858	1520	19	the	the	DET
cblr-13858	1520	20	exception	exception	NOUN
cblr-13858	1520	21	,	,	PUNCT
cblr-13858	1520	22	even	even	ADV
cblr-13858	1520	23	though	though	SCONJ
cblr-13858	1520	24	much	much	ADJ
cblr-13858	1520	25	of	of	ADP
cblr-13858	1520	26	the	the	DET
cblr-13858	1520	27	magazine	magazine	NOUN
cblr-13858	1520	28	's	's	PART
cblr-13858	1520	29	content	content	NOUN
cblr-13858	1520	30	was	be	AUX
cblr-13858	1520	31	provided	provide	VERB
cblr-13858	1520	32	by	by	ADP
cblr-13858	1520	33	featured	feature	VERB
cblr-13858	1520	34	companies	company	NOUN
cblr-13858	1520	35	and	and	CCONJ
cblr-13858	1520	36	their	their	PRON
cblr-13858	1520	37	public	public	ADJ
cblr-13858	1520	38	relations	relation	NOUN
cblr-13858	1520	39	agents.3	agents.3	VERB
cblr-13858	1520	40	94	94	NUM
cblr-13858	1520	41	to	to	PART
cblr-13858	1520	42	fall	fall	VERB
cblr-13858	1520	43	within	within	ADP
cblr-13858	1520	44	the	the	DET
cblr-13858	1520	45	publisher	publisher	NOUN
cblr-13858	1520	46	exception	exception	NOUN
cblr-13858	1520	47	,	,	PUNCT
cblr-13858	1520	48	crowdfunding	crowdfunding	NOUN
cblr-13858	1520	49	sites	site	NOUN
cblr-13858	1520	50	must	must	AUX
cblr-13858	1520	51	also	also	ADV
cblr-13858	1520	52	be	be	AUX
cblr-13858	1520	53	of	of	ADP
cblr-13858	1520	54	general	general	ADJ
cblr-13858	1520	55	and	and	CCONJ
cblr-13858	1520	56	regular	regular	ADJ
cblr-13858	1520	57	circulation	circulation	NOUN
cblr-13858	1520	58	.	.	PUNCT
cblr-13858	1521	1	web	web	NOUN
cblr-13858	1521	2	sites	site	NOUN
cblr-13858	1521	3	are	be	AUX
cblr-13858	1521	4	,	,	PUNCT
cblr-13858	1521	5	by	by	ADP
cblr-13858	1521	6	definition	definition	NOUN
cblr-13858	1521	7	,	,	PUNCT
cblr-13858	1521	8	continually	continually	ADV
cblr-13858	1521	9	published	publish	VERB
cblr-13858	1521	10	,	,	PUNCT
cblr-13858	1521	11	and	and	CCONJ
cblr-13858	1521	12	crowdfunding	crowdfunding	NOUN
cblr-13858	1521	13	sites	site	NOUN
cblr-13858	1521	14	are	be	AUX
cblr-13858	1521	15	open	open	ADJ
cblr-13858	1521	16	to	to	ADP
cblr-13858	1521	17	the	the	DET
cblr-13858	1521	18	general	general	ADJ
cblr-13858	1521	19	public	public	NOUN
cblr-13858	1521	20	.	.	PUNCT
cblr-13858	1522	1	but	but	CCONJ
cblr-13858	1522	2	the	the	DET
cblr-13858	1522	3	supreme	supreme	PROPN
cblr-13858	1522	4	court	court	PROPN
cblr-13858	1522	5	indicated	indicate	VERB
cblr-13858	1522	6	in	in	ADP
cblr-13858	1522	7	lowe	lowe	NOUN
cblr-13858	1522	8	that	that	SCONJ
cblr-13858	1522	9	a	a	DET
cblr-13858	1522	10	publication	publication	NOUN
cblr-13858	1522	11	is	be	AUX
cblr-13858	1522	12	not	not	PART
cblr-13858	1522	13	regular	regular	ADJ
cblr-13858	1522	14	if	if	SCONJ
cblr-13858	1522	15	its	its	PRON
cblr-13858	1522	16	publication	publication	NOUN
cblr-13858	1522	17	is	be	AUX
cblr-13858	1522	18	"	"	PUNCT
cblr-13858	1522	19	timed	time	VERB
cblr-13858	1522	20	to	to	ADP
cblr-13858	1522	21	specific	specific	ADJ
cblr-13858	1522	22	market	market	NOUN
cblr-13858	1522	23	activity	activity	NOUN
cblr-13858	1522	24	,	,	PUNCT
cblr-13858	1522	25	or	or	CCONJ
cblr-13858	1522	26	to	to	ADP
cblr-13858	1522	27	events	event	NOUN
cblr-13858	1522	28	affecting	affect	VERB
cblr-13858	1522	29	or	or	CCONJ
cblr-13858	1522	30	having	have	VERB
cblr-13858	1522	31	the	the	DET
cblr-13858	1522	32	ability	ability	NOUN
cblr-13858	1522	33	to	to	PART
cblr-13858	1522	34	affect	affect	VERB
cblr-13858	1522	35	the	the	DET
cblr-13858	1522	36	securities	security	NOUN
cblr-13858	1522	37	industry	industry	NOUN
cblr-13858	1522	38	.	.	PUNCT
cblr-13858	1523	1	"'3	"'3	PUNCT
cblr-13858	1523	2	it	it	PRON
cblr-13858	1523	3	is	be	AUX
cblr-13858	1523	4	not	not	PART
cblr-13858	1523	5	clear	clear	ADJ
cblr-13858	1523	6	exactly	exactly	ADV
cblr-13858	1523	7	what	what	PRON
cblr-13858	1523	8	this	this	PRON
cblr-13858	1523	9	means	mean	VERB
cblr-13858	1523	10	in	in	ADP
cblr-13858	1523	11	the	the	DET
cblr-13858	1523	12	context	context	NOUN
cblr-13858	1523	13	of	of	ADP
cblr-13858	1523	14	a	a	DET
cblr-13858	1523	15	web	web	NOUN
cblr-13858	1523	16	site	site	NOUN
cblr-13858	1523	17	.	.	PUNCT
cblr-13858	1524	1	although	although	SCONJ
cblr-13858	1524	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1524	3	sites	site	NOUN
cblr-13858	1524	4	are	be	AUX
cblr-13858	1524	5	continually	continually	ADV
cblr-13858	1524	6	available	available	ADJ
cblr-13858	1524	7	,	,	PUNCT
cblr-13858	1524	8	they	they	PRON
cblr-13858	1524	9	are	be	AUX
cblr-13858	1524	10	changed	change	VERB
cblr-13858	1524	11	each	each	DET
cblr-13858	1524	12	time	time	NOUN
cblr-13858	1524	13	an	an	DET
cblr-13858	1524	14	entrepreneur	entrepreneur	NOUN
cblr-13858	1524	15	posts	post	VERB
cblr-13858	1524	16	a	a	DET
cblr-13858	1524	17	new	new	ADJ
cblr-13858	1524	18	fundraising	fundraising	NOUN
cblr-13858	1524	19	request	request	NOUN
cblr-13858	1524	20	.	.	PUNCT
cblr-13858	1525	1	thus	thus	ADV
cblr-13858	1525	2	,	,	PUNCT
cblr-13858	1525	3	in	in	ADP
cblr-13858	1525	4	a	a	DET
cblr-13858	1525	5	sense	sense	NOUN
cblr-13858	1525	6	,	,	PUNCT
cblr-13858	1525	7	each	each	DET
cblr-13858	1525	8	"	"	PUNCT
cblr-13858	1525	9	new	new	ADJ
cblr-13858	1525	10	edition	edition	NOUN
cblr-13858	1525	11	"	"	PUNCT
cblr-13858	1525	12	of	of	ADP
cblr-13858	1525	13	the	the	DET
cblr-13858	1525	14	site	site	NOUN
cblr-13858	1525	15	is	be	AUX
cblr-13858	1525	16	timed	time	VERB
cblr-13858	1525	17	to	to	ADP
cblr-13858	1525	18	specific	specific	ADJ
cblr-13858	1525	19	market	market	NOUN
cblr-13858	1525	20	activity	activity	NOUN
cblr-13858	1525	21	-	-	PUNCT
cblr-13858	1525	22	a	a	DET
cblr-13858	1525	23	new	new	ADJ
cblr-13858	1525	24	securities	security	NOUN
cblr-13858	1525	25	offering	offering	NOUN
cblr-13858	1525	26	by	by	ADP
cblr-13858	1525	27	an	an	DET
cblr-13858	1525	28	entrepreneur	entrepreneur	NOUN
cblr-13858	1525	29	.	.	PUNCT
cblr-13858	1526	1	the	the	DET
cblr-13858	1526	2	sec	sec	PROPN
cblr-13858	1526	3	might	might	AUX
cblr-13858	1526	4	seize	seize	VERB
cblr-13858	1526	5	on	on	ADP
cblr-13858	1526	6	this	this	PRON
cblr-13858	1526	7	to	to	PART
cblr-13858	1526	8	argue	argue	VERB
cblr-13858	1526	9	that	that	SCONJ
cblr-13858	1526	10	crowdfunding	crowdfunding	NOUN
cblr-13858	1526	11	sites	site	NOUN
cblr-13858	1526	12	are	be	AUX
cblr-13858	1526	13	timed	time	VERB
cblr-13858	1526	14	to	to	ADP
cblr-13858	1526	15	specific	specific	ADJ
cblr-13858	1526	16	market	market	NOUN
cblr-13858	1526	17	activity	activity	NOUN
cblr-13858	1526	18	,	,	PUNCT
cblr-13858	1526	19	and	and	CCONJ
cblr-13858	1526	20	therefore	therefore	ADV
cblr-13858	1526	21	do	do	AUX
cblr-13858	1526	22	not	not	PART
cblr-13858	1526	23	qualify	qualify	VERB
cblr-13858	1526	24	for	for	ADP
cblr-13858	1526	25	the	the	DET
cblr-13858	1526	26	exception	exception	NOUN
cblr-13858	1526	27	.	.	PUNCT
cblr-13858	1526	28	.	.	PUNCT
cblr-13858	1527	1	sec	sec	PROPN
cblr-13858	1527	2	v.	v.	PROPN
cblr-13858	1527	3	terry	terry	PROPN
cblr-13858	1527	4	's	's	PART
cblr-13858	1527	5	tips	tip	NOUN
cblr-13858	1527	6	,	,	PUNCT
cblr-13858	1527	7	inc	inc	PROPN
cblr-13858	1527	8	.	.	PROPN
cblr-13858	1527	9	409	409	NUM
cblr-13858	1527	10	f.	f.	PROPN
cblr-13858	1527	11	supp	supp	PROPN
cblr-13858	1527	12	.	.	PUNCT
cblr-13858	1528	1	2d	2d	PROPN
cblr-13858	1528	2	526	526	NUM
cblr-13858	1528	3	,	,	PUNCT
cblr-13858	1528	4	532	532	NUM
cblr-13858	1528	5	(	(	PUNCT
cblr-13858	1528	6	d.	d.	PROPN
cblr-13858	1528	7	vt	vt	PROPN
cblr-13858	1528	8	.	.	PROPN
cblr-13858	1528	9	2006	2006	NUM
cblr-13858	1528	10	)	)	PUNCT
cblr-13858	1528	11	.	.	PUNCT
cblr-13858	1529	1	the	the	DET
cblr-13858	1529	2	court	court	NOUN
cblr-13858	1529	3	still	still	ADV
cblr-13858	1529	4	held	hold	VERB
cblr-13858	1529	5	that	that	SCONJ
cblr-13858	1529	6	the	the	DET
cblr-13858	1529	7	defendants	defendant	NOUN
cblr-13858	1529	8	were	be	AUX
cblr-13858	1529	9	investment	investment	NOUN
cblr-13858	1529	10	advisers	adviser	NOUN
cblr-13858	1529	11	because	because	SCONJ
cblr-13858	1529	12	of	of	ADP
cblr-13858	1529	13	individualized	individualized	ADJ
cblr-13858	1529	14	advice	advice	NOUN
cblr-13858	1529	15	they	they	PRON
cblr-13858	1529	16	gave	give	VERB
cblr-13858	1529	17	to	to	ADP
cblr-13858	1529	18	individual	individual	ADJ
cblr-13858	1529	19	investors	investor	NOUN
cblr-13858	1529	20	in	in	ADP
cblr-13858	1529	21	phone	phone	NOUN
cblr-13858	1529	22	calls	call	NOUN
cblr-13858	1529	23	and	and	CCONJ
cblr-13858	1529	24	e	e	NOUN
cblr-13858	1529	25	-	-	NOUN
cblr-13858	1529	26	mail	mail	NOUN
cblr-13858	1529	27	.	.	PUNCT
cblr-13858	1530	1	i	i	PRON
cblr-13858	1530	2	d.	d.	PROPN
cblr-13858	1530	3	"	"	PUNCT
cblr-13858	1530	4	see	see	VERB
cblr-13858	1530	5	sec	sec	PROPN
cblr-13858	1530	6	v.	v.	PROPN
cblr-13858	1530	7	wall	wall	PROPN
cblr-13858	1530	8	st	st	PROPN
cblr-13858	1530	9	.	.	PROPN
cblr-13858	1530	10	publ'g	publ'g	PROPN
cblr-13858	1530	11	inst	inst	PROPN
cblr-13858	1530	12	.	.	PROPN
cblr-13858	1530	13	,	,	PUNCT
cblr-13858	1530	14	inc	inc	PROPN
cblr-13858	1530	15	.	.	PROPN
cblr-13858	1530	16	,	,	PUNCT
cblr-13858	1530	17	664	664	NUM
cblr-13858	1530	18	f.	f.	PROPN
cblr-13858	1530	19	supp	supp	PROPN
cblr-13858	1530	20	.	.	PUNCT
cblr-13858	1531	1	554	554	NUM
cblr-13858	1531	2	,	,	PUNCT
cblr-13858	1531	3	555	555	NUM
cblr-13858	1531	4	(	(	PUNCT
cblr-13858	1531	5	d.d.c	d.d.c	PROPN
cblr-13858	1531	6	.	.	PROPN
cblr-13858	1531	7	1986	1986	NUM
cblr-13858	1531	8	)	)	PUNCT
cblr-13858	1531	9	,	,	PUNCT
cblr-13858	1531	10	rev'd	rev'd	VERB
cblr-13858	1531	11	on	on	ADP
cblr-13858	1531	12	other	other	ADJ
cblr-13858	1531	13	grounds	ground	NOUN
cblr-13858	1531	14	,	,	PUNCT
cblr-13858	1531	15	851	851	NUM
cblr-13858	1531	16	f.2d	f.2d	X
cblr-13858	1531	17	365	365	NUM
cblr-13858	1531	18	(	(	PUNCT
cblr-13858	1531	19	d.c	d.c	PROPN
cblr-13858	1531	20	.	.	PROPN
cblr-13858	1531	21	cir	cir	PROPN
cblr-13858	1531	22	.	.	PROPN
cblr-13858	1531	23	1988	1988	NUM
cblr-13858	1531	24	)	)	PUNCT
cblr-13858	1531	25	.	.	PUNCT
cblr-13858	1532	1	the	the	DET
cblr-13858	1532	2	magazine	magazine	NOUN
cblr-13858	1532	3	is	be	AUX
cblr-13858	1532	4	described	describe	VERB
cblr-13858	1532	5	in	in	ADP
cblr-13858	1532	6	an	an	DET
cblr-13858	1532	7	earlier	early	ADJ
cblr-13858	1532	8	opinion	opinion	NOUN
cblr-13858	1532	9	,	,	PUNCT
cblr-13858	1532	10	sec	sec	PROPN
cblr-13858	1532	11	v.	v.	PROPN
cblr-13858	1532	12	wall	wall	PROPN
cblr-13858	1532	13	street	street	PROPN
cblr-13858	1532	14	publishing	publishing	PROPN
cblr-13858	1532	15	institute	institute	PROPN
cblr-13858	1532	16	,	,	PUNCT
cblr-13858	1532	17	591	591	NUM
cblr-13858	1532	18	f.	f.	PROPN
cblr-13858	1532	19	supp	supp	PROPN
cblr-13858	1532	20	.	.	PUNCT
cblr-13858	1533	1	1070	1070	NUM
cblr-13858	1533	2	,	,	PUNCT
cblr-13858	1533	3	1075	1075	NUM
cblr-13858	1533	4	-	-	SYM
cblr-13858	1533	5	77	77	NUM
cblr-13858	1533	6	(	(	PUNCT
cblr-13858	1533	7	d.d.c	d.d.c	PROPN
cblr-13858	1533	8	.	.	PROPN
cblr-13858	1533	9	1984	1984	NUM
cblr-13858	1533	10	)	)	PUNCT
cblr-13858	1533	11	,	,	PUNCT
cblr-13858	1533	12	stayed	stay	VERB
cblr-13858	1533	13	,	,	PUNCT
cblr-13858	1533	14	no	no	INTJ
cblr-13858	1533	15	.	.	NOUN
cblr-13858	1533	16	84	84	NUM
cblr-13858	1533	17	-	-	SYM
cblr-13858	1533	18	5485	5485	NUM
cblr-13858	1533	19	,	,	PUNCT
cblr-13858	1533	20	1984	1984	NUM
cblr-13858	1533	21	wl	wl	NOUN
cblr-13858	1533	22	21133	21133	NUM
cblr-13858	1533	23	,	,	PUNCT
cblr-13858	1533	24	at	at	ADP
cblr-13858	1533	25	*	*	NOUN
cblr-13858	1533	26	1	1	NUM
cblr-13858	1533	27	(	(	PUNCT
cblr-13858	1533	28	d.c	d.c	PROPN
cblr-13858	1533	29	.	.	PROPN
cblr-13858	1533	30	cir	cir	PROPN
cblr-13858	1533	31	.	.	PUNCT
cblr-13858	1534	1	aug	aug	PROPN
cblr-13858	1534	2	.	.	PROPN
cblr-13858	1534	3	10	10	NUM
cblr-13858	1534	4	,	,	PUNCT
cblr-13858	1534	5	1984	1984	NUM
cblr-13858	1534	6	)	)	PUNCT
cblr-13858	1534	7	.	.	PUNCT
cblr-13858	1535	1	3	3	NUM
cblr-13858	1535	2	lowe	lowe	NOUN
cblr-13858	1535	3	,	,	PUNCT
cblr-13858	1535	4	472	472	NUM
cblr-13858	1535	5	u.s	u.s	PROPN
cblr-13858	1535	6	.	.	PROPN
cblr-13858	1535	7	at	at	ADP
cblr-13858	1535	8	209	209	NUM
cblr-13858	1535	9	.	.	PUNCT
cblr-13858	1535	10	80	80	NUM
cblr-13858	1535	11	col	col	PROPN
cblr-13858	1535	12	umbia	umbia	PROPN
cblr-13858	1535	13	business	business	PROPN
cblr-13858	1535	14	la	la	PROPN
cblr-13858	1535	15	w	w	PROPN
cblr-13858	1535	16	re	re	PROPN
cblr-13858	1535	17	vie	vie	PROPN
cblr-13858	1535	18	w	w	PROPN
cblr-13858	1536	1	[	[	X
cblr-13858	1536	2	vol	vol	NOUN
cblr-13858	1536	3	.	.	PUNCT
cblr-13858	1536	4	2012	2012	NUM
cblr-13858	1536	5	v.	v.	ADP
cblr-13858	1536	6	proposals	proposal	NOUN
cblr-13858	1536	7	to	to	PART
cblr-13858	1536	8	exempt	exempt	VERB
cblr-13858	1536	9	crowdfunding	crowdfunding	NOUN
cblr-13858	1536	10	as	as	SCONJ
cblr-13858	1536	11	crowdfunding	crowdfunding	NOUN
cblr-13858	1536	12	has	have	AUX
cblr-13858	1536	13	grown	grow	VERB
cblr-13858	1536	14	,	,	PUNCT
cblr-13858	1536	15	proponents	proponent	NOUN
cblr-13858	1536	16	of	of	ADP
cblr-13858	1536	17	crowdfunding	crowdfunding	NOUN
cblr-13858	1536	18	have	have	AUX
cblr-13858	1536	19	,	,	PUNCT
cblr-13858	1536	20	not	not	PART
cblr-13858	1536	21	surprisingly	surprisingly	ADV
cblr-13858	1536	22	,	,	PUNCT
cblr-13858	1536	23	turned	turn	VERB
cblr-13858	1536	24	their	their	PRON
cblr-13858	1536	25	attention	attention	NOUN
cblr-13858	1536	26	to	to	ADP
cblr-13858	1536	27	federal	federal	ADJ
cblr-13858	1536	28	securities	security	NOUN
cblr-13858	1536	29	law	law	NOUN
cblr-13858	1536	30	and	and	CCONJ
cblr-13858	1536	31	the	the	DET
cblr-13858	1536	32	possibility	possibility	NOUN
cblr-13858	1536	33	of	of	ADP
cblr-13858	1536	34	selling	sell	VERB
cblr-13858	1536	35	securities	security	NOUN
cblr-13858	1536	36	through	through	ADP
cblr-13858	1536	37	crowdfunding	crowdfunde	VERB
cblr-13858	1536	38	.	.	PUNCT
cblr-13858	1537	1	the	the	DET
cblr-13858	1537	2	result	result	NOUN
cblr-13858	1537	3	has	have	AUX
cblr-13858	1537	4	been	be	AUX
cblr-13858	1537	5	several	several	ADJ
cblr-13858	1537	6	proposals	proposal	NOUN
cblr-13858	1537	7	to	to	PART
cblr-13858	1537	8	exempt	exempt	VERB
cblr-13858	1537	9	crowdfunding	crowdfunding	NOUN
cblr-13858	1537	10	from	from	ADP
cblr-13858	1537	11	securities	security	NOUN
cblr-13858	1537	12	act	act	NOUN
cblr-13858	1537	13	registration	registration	NOUN
cblr-13858	1537	14	.	.	PUNCT
cblr-13858	1538	1	even	even	ADV
cblr-13858	1538	2	the	the	DET
cblr-13858	1538	3	white	white	PROPN
cblr-13858	1538	4	house	house	PROPN
cblr-13858	1538	5	has	have	AUX
cblr-13858	1538	6	endorsed	endorse	VERB
cblr-13858	1538	7	a	a	DET
cblr-13858	1538	8	crowdfunding	crowdfunding	NOUN
cblr-13858	1538	9	exemption	exemption	NOUN
cblr-13858	1538	10	.	.	PUNCT
cblr-13858	1539	1	some	some	PRON
cblr-13858	1539	2	of	of	ADP
cblr-13858	1539	3	these	these	DET
cblr-13858	1539	4	crowdfunding	crowdfunding	NOUN
cblr-13858	1539	5	exemption	exemption	NOUN
cblr-13858	1539	6	proposals	proposal	NOUN
cblr-13858	1539	7	are	be	AUX
cblr-13858	1539	8	sketchy	sketchy	ADJ
cblr-13858	1539	9	.	.	PUNCT
cblr-13858	1540	1	at	at	ADP
cblr-13858	1540	2	best	well	ADV
cblr-13858	1540	3	,	,	PUNCT
cblr-13858	1540	4	they	they	PRON
cblr-13858	1540	5	represent	represent	VERB
cblr-13858	1540	6	bare	bare	ADJ
cblr-13858	1540	7	frames	frame	NOUN
cblr-13858	1540	8	on	on	ADP
cblr-13858	1540	9	which	which	PRON
cblr-13858	1540	10	an	an	DET
cblr-13858	1540	11	exemption	exemption	NOUN
cblr-13858	1540	12	could	could	AUX
cblr-13858	1540	13	be	be	AUX
cblr-13858	1540	14	erected	erect	VERB
cblr-13858	1540	15	.	.	PUNCT
cblr-13858	1541	1	but	but	CCONJ
cblr-13858	1541	2	all	all	PRON
cblr-13858	1541	3	of	of	ADP
cblr-13858	1541	4	the	the	DET
cblr-13858	1541	5	proposals	proposal	NOUN
cblr-13858	1541	6	share	share	VERB
cblr-13858	1541	7	two	two	NUM
cblr-13858	1541	8	common	common	ADJ
cblr-13858	1541	9	features	feature	NOUN
cblr-13858	1541	10	:	:	PUNCT
cblr-13858	1541	11	(	(	PUNCT
cblr-13858	1541	12	1	1	X
cblr-13858	1541	13	)	)	PUNCT
cblr-13858	1541	14	an	an	DET
cblr-13858	1541	15	overall	overall	ADJ
cblr-13858	1541	16	cap	cap	NOUN
cblr-13858	1541	17	on	on	ADP
cblr-13858	1541	18	the	the	DET
cblr-13858	1541	19	dollar	dollar	NOUN
cblr-13858	1541	20	amount	amount	NOUN
cblr-13858	1541	21	of	of	ADP
cblr-13858	1541	22	the	the	DET
cblr-13858	1541	23	offering	offering	NOUN
cblr-13858	1541	24	;	;	PUNCT
cblr-13858	1541	25	and	and	CCONJ
cblr-13858	1541	26	(	(	PUNCT
cblr-13858	1541	27	2	2	X
cblr-13858	1541	28	)	)	PUNCT
cblr-13858	1541	29	a	a	DET
cblr-13858	1541	30	limit	limit	NOUN
cblr-13858	1541	31	on	on	ADP
cblr-13858	1541	32	the	the	DET
cblr-13858	1541	33	amount	amount	NOUN
cblr-13858	1541	34	each	each	DET
cblr-13858	1541	35	investor	investor	NOUN
cblr-13858	1541	36	may	may	AUX
cblr-13858	1541	37	invest	invest	VERB
cblr-13858	1541	38	.	.	PUNCT
cblr-13858	1542	1	the	the	DET
cblr-13858	1542	2	sec	sec	PROPN
cblr-13858	1542	3	,	,	PUNCT
cblr-13858	1542	4	under	under	ADP
cblr-13858	1542	5	pressure	pressure	NOUN
cblr-13858	1542	6	from	from	ADP
cblr-13858	1542	7	congress	congress	PROPN
cblr-13858	1542	8	,	,	PUNCT
cblr-13858	1542	9	had	have	AUX
cblr-13858	1542	10	agreed	agree	VERB
cblr-13858	1542	11	to	to	PART
cblr-13858	1542	12	look	look	VERB
cblr-13858	1542	13	at	at	ADP
cblr-13858	1542	14	crowdfunding	crowdfunde	VERB
cblr-13858	1542	15	even	even	ADV
cblr-13858	1542	16	before	before	ADP
cblr-13858	1542	17	the	the	DET
cblr-13858	1542	18	white	white	PROPN
cblr-13858	1542	19	house	house	PROPN
cblr-13858	1542	20	announcement	announcement	NOUN
cblr-13858	1542	21	.	.	PUNCT
cblr-13858	1543	1	but	but	CCONJ
cblr-13858	1543	2	the	the	DET
cblr-13858	1543	3	white	white	PROPN
cblr-13858	1543	4	house	house	PROPN
cblr-13858	1543	5	endorsement	endorsement	NOUN
cblr-13858	1543	6	definitely	definitely	ADV
cblr-13858	1543	7	raises	raise	VERB
cblr-13858	1543	8	the	the	DET
cblr-13858	1543	9	ante	ante	NOUN
cblr-13858	1543	10	and	and	CCONJ
cblr-13858	1543	11	makes	make	VERB
cblr-13858	1543	12	it	it	PRON
cblr-13858	1543	13	more	more	ADV
cblr-13858	1543	14	likely	likely	ADJ
cblr-13858	1543	15	that	that	SCONJ
cblr-13858	1543	16	the	the	DET
cblr-13858	1543	17	sec	sec	PROPN
cblr-13858	1543	18	will	will	AUX
cblr-13858	1543	19	at	at	ADP
cblr-13858	1543	20	least	least	ADJ
cblr-13858	1543	21	consider	consider	VERB
cblr-13858	1543	22	rule	rule	NOUN
cblr-13858	1543	23	-	-	PUNCT
cblr-13858	1543	24	making	making	NOUN
cblr-13858	1543	25	.	.	PUNCT
cblr-13858	1544	1	however	however	ADV
cblr-13858	1544	2	,	,	PUNCT
cblr-13858	1544	3	congress	congress	PROPN
cblr-13858	1544	4	may	may	AUX
cblr-13858	1544	5	not	not	PART
cblr-13858	1544	6	wait	wait	VERB
cblr-13858	1544	7	for	for	ADP
cblr-13858	1544	8	sec	sec	PROPN
cblr-13858	1544	9	action	action	NOUN
cblr-13858	1544	10	.	.	PUNCT
cblr-13858	1545	1	three	three	NUM
cblr-13858	1545	2	bills	bill	NOUN
cblr-13858	1545	3	have	have	AUX
cblr-13858	1545	4	been	be	AUX
cblr-13858	1545	5	introduced	introduce	VERB
cblr-13858	1545	6	that	that	PRON
cblr-13858	1545	7	would	would	AUX
cblr-13858	1545	8	create	create	VERB
cblr-13858	1545	9	statutory	statutory	ADJ
cblr-13858	1545	10	crowdfunding	crowdfunding	NOUN
cblr-13858	1545	11	exemptions	exemption	NOUN
cblr-13858	1545	12	,	,	PUNCT
cblr-13858	1545	13	and	and	CCONJ
cblr-13858	1545	14	one	one	NUM
cblr-13858	1545	15	of	of	ADP
cblr-13858	1545	16	those	those	DET
cblr-13858	1545	17	bills	bill	NOUN
cblr-13858	1545	18	has	have	AUX
cblr-13858	1545	19	passed	pass	VERB
cblr-13858	1545	20	in	in	ADP
cblr-13858	1545	21	the	the	DET
cblr-13858	1545	22	house	house	NOUN
cblr-13858	1545	23	.	.	PUNCT
cblr-13858	1546	1	a.	a.	NOUN
cblr-13858	1547	1	the	the	DET
cblr-13858	1547	2	sustainable	sustainable	ADJ
cblr-13858	1547	3	economies	economy	NOUN
cblr-13858	1547	4	law	law	NOUN
cblr-13858	1547	5	center	center	NOUN
cblr-13858	1547	6	petition	petition	VERB
cblr-13858	1547	7	the	the	DET
cblr-13858	1547	8	first	first	ADJ
cblr-13858	1547	9	exemption	exemption	NOUN
cblr-13858	1547	10	proposal	proposal	NOUN
cblr-13858	1547	11	came	come	VERB
cblr-13858	1547	12	in	in	ADP
cblr-13858	1547	13	2010	2010	NUM
cblr-13858	1547	14	.	.	PUNCT
cblr-13858	1548	1	the	the	DET
cblr-13858	1548	2	sustainable	sustainable	ADJ
cblr-13858	1548	3	economies	economy	NOUN
cblr-13858	1548	4	law	law	NOUN
cblr-13858	1548	5	center	center	NOUN
cblr-13858	1548	6	petitioned	petition	VERB
cblr-13858	1548	7	the	the	DET
cblr-13858	1548	8	sec	sec	PROPN
cblr-13858	1548	9	to	to	PART
cblr-13858	1548	10	exempt	exempt	VERB
cblr-13858	1548	11	offerings	offering	NOUN
cblr-13858	1548	12	of	of	ADP
cblr-13858	1548	13	up	up	ADP
cblr-13858	1548	14	to	to	PART
cblr-13858	1548	15	$	$	SYM
cblr-13858	1548	16	100,000	100,000	NUM
cblr-13858	1548	17	,	,	PUNCT
cblr-13858	1548	18	provided	provide	VERB
cblr-13858	1548	19	that	that	SCONJ
cblr-13858	1548	20	no	no	DET
cblr-13858	1548	21	single	single	ADJ
cblr-13858	1548	22	investor	investor	NOUN
cblr-13858	1548	23	contributed	contribute	VERB
cblr-13858	1548	24	more	more	ADJ
cblr-13858	1548	25	than	than	ADP
cblr-13858	1548	26	$	$	SYM
cblr-13858	1548	27	100.396	100.396	NUM
cblr-13858	1548	28	the	the	DET
cblr-13858	1548	29	proposed	propose	VERB
cblr-13858	1548	30	exemption	exemption	NOUN
cblr-13858	1548	31	includes	include	VERB
cblr-13858	1548	32	additional	additional	ADJ
cblr-13858	1548	33	limitations	limitation	NOUN
cblr-13858	1548	34	:	:	PUNCT
cblr-13858	1548	35	(	(	PUNCT
cblr-13858	1548	36	1	1	X
cblr-13858	1548	37	)	)	PUNCT
cblr-13858	1548	38	the	the	DET
cblr-13858	1548	39	offerors	offeror	NOUN
cblr-13858	1548	40	must	must	AUX
cblr-13858	1548	41	be	be	AUX
cblr-13858	1548	42	individual	individual	ADJ
cblr-13858	1548	43	u.s	u.s	PROPN
cblr-13858	1548	44	residents	resident	NOUN
cblr-13858	1548	45	,	,	PUNCT
cblr-13858	1548	46	not	not	PART
cblr-13858	1548	47	entities	entity	NOUN
cblr-13858	1548	48	;	;	PUNCT
cblr-13858	1548	49	"	"	PUNCT
cblr-13858	1548	50	'	'	PUNCT
cblr-13858	1548	51	(	(	PUNCT
cblr-13858	1548	52	2	2	X
cblr-13858	1548	53	)	)	PUNCT
cblr-13858	1548	54	each	each	DET
cblr-13858	1548	55	offeror	offeror	NOUN
cblr-13858	1548	56	may	may	AUX
cblr-13858	1548	57	make	make	VERB
cblr-13858	1548	58	only	only	ADV
cblr-13858	1548	59	one	one	NUM
cblr-13858	1548	60	offering	offering	NOUN
cblr-13858	1548	61	at	at	ADP
cblr-13858	1548	62	a	a	DET
cblr-13858	1548	63	time	time	NOUN
cblr-13858	1548	64	;	;	PUNCT
cblr-13858	1548	65	and	and	CCONJ
cblr-13858	1548	66	(	(	PUNCT
cblr-13858	1548	67	3	3	X
cblr-13858	1548	68	)	)	PUNCT
cblr-13858	1548	69	all	all	DET
cblr-13858	1548	70	396	396	NUM
cblr-13858	1548	71	sustainable	sustainable	ADJ
cblr-13858	1548	72	economies	economy	NOUN
cblr-13858	1548	73	law	law	PROPN
cblr-13858	1548	74	ctr	ctr	PROPN
cblr-13858	1548	75	.	.	PROPN
cblr-13858	1548	76	,	,	PUNCT
cblr-13858	1548	77	request	request	VERB
cblr-13858	1548	78	fcr	fcr	NOUN
cblr-13858	1548	79	rulemaking	rulemake	VERB
cblr-13858	1548	80	to	to	PART
cblr-13858	1548	81	exempt	exempt	VERB
cblr-13858	1548	82	securities	security	NOUN
cblr-13858	1548	83	offerings	offering	NOUN
cblr-13858	1548	84	up	up	ADP
cblr-13858	1548	85	to	to	PART
cblr-13858	1548	86	$	$	SYM
cblr-13858	1548	87	100,000	100,000	NUM
cblr-13858	1548	88	with	with	ADP
cblr-13858	1548	89	$	$	SYM
cblr-13858	1548	90	100	100	NUM
cblr-13858	1548	91	maximum	maximum	NOUN
cblr-13858	1548	92	per	per	ADP
cblr-13858	1548	93	investor	investor	NOUN
cblr-13858	1548	94	from	from	ADP
cblr-13858	1548	95	registration	registration	NOUN
cblr-13858	1548	96	,	,	PUNCT
cblr-13858	1548	97	sec	sec	PROPN
cblr-13858	1548	98	file	file	NOUN
cblr-13858	1548	99	no	no	NOUN
cblr-13858	1548	100	.	.	NOUN
cblr-13858	1548	101	4	4	NUM
cblr-13858	1548	102	-	-	SYM
cblr-13858	1548	103	605	605	NUM
cblr-13858	1548	104	,	,	PUNCT
cblr-13858	1548	105	at	at	ADP
cblr-13858	1548	106	2	2	NUM
cblr-13858	1548	107	(	(	PUNCT
cblr-13858	1548	108	july	july	PROPN
cblr-13858	1548	109	1	1	NUM
cblr-13858	1548	110	,	,	PUNCT
cblr-13858	1548	111	2010	2010	NUM
cblr-13858	1548	112	)	)	PUNCT
cblr-13858	1548	113	,	,	PUNCT
cblr-13858	1548	114	available	available	ADJ
cblr-13858	1548	115	at	at	ADP
cblr-13858	1548	116	http://www.sec.gov/rules/petitions/2010/petn4-605.pdf	http://www.sec.gov/rules/petitions/2010/petn4-605.pdf	NOUN
cblr-13858	1548	117	.	.	PUNCT
cblr-13858	1549	1	3	3	NUM
cblr-13858	1550	1	i	i	PRON
cblr-13858	1550	2	d.	d.	NOUN
cblr-13858	1550	3	at	at	ADP
cblr-13858	1550	4	7	7	NUM
cblr-13858	1550	5	.	.	PUNCT
cblr-13858	1551	1	the	the	DET
cblr-13858	1551	2	center	center	NOUN
cblr-13858	1551	3	argues	argue	VERB
cblr-13858	1551	4	that	that	SCONJ
cblr-13858	1551	5	allowing	allow	VERB
cblr-13858	1551	6	only	only	ADV
cblr-13858	1551	7	individuals	individual	NOUN
cblr-13858	1551	8	,	,	PUNCT
cblr-13858	1551	9	and	and	CCONJ
cblr-13858	1551	10	not	not	PART
cblr-13858	1551	11	companies	company	NOUN
cblr-13858	1551	12	,	,	PUNCT
cblr-13858	1551	13	to	to	PART
cblr-13858	1551	14	use	use	VERB
cblr-13858	1551	15	the	the	DET
cblr-13858	1551	16	exemption	exemption	NOUN
cblr-13858	1551	17	would	would	AUX
cblr-13858	1551	18	limit	limit	VERB
cblr-13858	1551	19	fraud	fraud	NOUN
cblr-13858	1551	20	because	because	SCONJ
cblr-13858	1551	21	the	the	DET
cblr-13858	1551	22	identity	identity	NOUN
cblr-13858	1551	23	of	of	ADP
cblr-13858	1551	24	each	each	DET
cblr-13858	1551	25	offeror	offeror	NOUN
cblr-13858	1551	26	could	could	AUX
cblr-13858	1551	27	be	be	AUX
cblr-13858	1551	28	verified	verify	VERB
cblr-13858	1551	29	and	and	CCONJ
cblr-13858	1551	30	no	no	DET
cblr-13858	1551	31	one	one	NOUN
cblr-13858	1551	32	could	could	AUX
cblr-13858	1551	33	"	"	PUNCT
cblr-13858	1551	34	hide	hide	VERB
cblr-13858	1551	35	behind	behind	ADP
cblr-13858	1551	36	a	a	DET
cblr-13858	1551	37	corporate	corporate	ADJ
cblr-13858	1551	38	shell	shell	NOUN
cblr-13858	1551	39	.	.	PUNCT
cblr-13858	1551	40	"	"	PUNCT
cblr-13858	1552	1	no	no	INTJ
cblr-13858	1552	2	.	.	PUNCT
cblr-13858	1553	1	i:1	i:1	PROPN
cblr-13858	1553	2	]	]	X
cblr-13858	1553	3	cro	cro	X
cblr-13858	1553	4	wdfunding	wdfunding	NOUN
cblr-13858	1553	5	and	and	CCONJ
cblr-13858	1553	6	securities	security	NOUN
cblr-13858	1553	7	la	la	PROPN
cblr-13858	1553	8	ws	ws	PROPN
cblr-13858	1553	9	81	81	NUM
cblr-13858	1553	10	columbia	columbia	PROPN
cblr-13858	1553	11	business	business	NOUN
cblr-13858	1553	12	law	law	PROPN
cblr-13858	1553	13	review	review	NOUN
cblr-13858	1553	14	offering	offer	VERB
cblr-13858	1553	15	materials	material	NOUN
cblr-13858	1553	16	and	and	CCONJ
cblr-13858	1553	17	communications	communication	NOUN
cblr-13858	1553	18	must	must	AUX
cblr-13858	1553	19	include	include	VERB
cblr-13858	1553	20	a	a	DET
cblr-13858	1553	21	disclaimer	disclaimer	NOUN
cblr-13858	1553	22	"	"	PUNCT
cblr-13858	1553	23	stating	state	VERB
cblr-13858	1553	24	the	the	DET
cblr-13858	1553	25	possibility	possibility	NOUN
cblr-13858	1553	26	of	of	ADP
cblr-13858	1553	27	total	total	ADJ
cblr-13858	1553	28	loss	loss	NOUN
cblr-13858	1553	29	of	of	ADP
cblr-13858	1553	30	the	the	DET
cblr-13858	1553	31	investment	investment	NOUN
cblr-13858	1553	32	,	,	PUNCT
cblr-13858	1553	33	and	and	CCONJ
cblr-13858	1553	34	the	the	DET
cblr-13858	1553	35	necessity	necessity	NOUN
cblr-13858	1553	36	of	of	ADP
cblr-13858	1553	37	careful	careful	ADJ
cblr-13858	1553	38	evaluation	evaluation	NOUN
cblr-13858	1553	39	of	of	ADP
cblr-13858	1553	40	each	each	DET
cblr-13858	1553	41	offeror	offeror	NOUN
cblr-13858	1553	42	's	's	PART
cblr-13858	1553	43	trustworthiness	trustworthiness	NOUN
cblr-13858	1553	44	.	.	PUNCT
cblr-13858	1554	1	"3	"3	NOUN
cblr-13858	1554	2	9	9	NUM
cblr-13858	1554	3	8	8	NUM
cblr-13858	1554	4	the	the	DET
cblr-13858	1554	5	petition	petition	NOUN
cblr-13858	1554	6	itself	itself	PRON
cblr-13858	1554	7	is	be	AUX
cblr-13858	1554	8	an	an	DET
cblr-13858	1554	9	illustration	illustration	NOUN
cblr-13858	1554	10	of	of	ADP
cblr-13858	1554	11	the	the	DET
cblr-13858	1554	12	power	power	NOUN
cblr-13858	1554	13	of	of	ADP
cblr-13858	1554	14	crowdfunding	crowdfunding	NOUN
cblr-13858	1554	15	:	:	PUNCT
cblr-13858	1554	16	it	it	PRON
cblr-13858	1554	17	was	be	AUX
cblr-13858	1554	18	funded	fund	VERB
cblr-13858	1554	19	by	by	ADP
cblr-13858	1554	20	a	a	DET
cblr-13858	1554	21	campaign	campaign	NOUN
cblr-13858	1554	22	on	on	ADP
cblr-13858	1554	23	the	the	DET
cblr-13858	1554	24	crowdfunding	crowdfunding	NOUN
cblr-13858	1554	25	web	web	NOUN
cblr-13858	1554	26	site	site	NOUN
cblr-13858	1554	27	indiegogo	indiegogo	NOUN
cblr-13858	1554	28	.	.	PUNCT
cblr-13858	1554	29	'	'	PUNCT
cblr-13858	1554	30	"	"	PUNCT
cblr-13858	1554	31	the	the	DET
cblr-13858	1554	32	sec	sec	PROPN
cblr-13858	1554	33	dutifully	dutifully	ADV
cblr-13858	1554	34	logged	log	VERB
cblr-13858	1554	35	the	the	DET
cblr-13858	1554	36	petition.oo	petition.oo	X
cblr-13858	1554	37	and	and	CCONJ
cblr-13858	1554	38	began	begin	VERB
cblr-13858	1554	39	accepting	accept	VERB
cblr-13858	1554	40	comments	comment	NOUN
cblr-13858	1554	41	.	.	PUNCT
cblr-13858	1555	1	aided	aid	VERB
cblr-13858	1555	2	by	by	ADP
cblr-13858	1555	3	a	a	DET
cblr-13858	1555	4	mention	mention	NOUN
cblr-13858	1555	5	on	on	ADP
cblr-13858	1555	6	the	the	DET
cblr-13858	1555	7	blog	blog	NOUN
cblr-13858	1555	8	boingboing,4	boingboing,4	X
cblr-13858	1555	9	0	0	NUM
cblr-13858	1555	10	'	'	PUNCT
cblr-13858	1555	11	the	the	DET
cblr-13858	1555	12	petition	petition	NOUN
cblr-13858	1555	13	has	have	AUX
cblr-13858	1555	14	generated	generate	VERB
cblr-13858	1555	15	dozens	dozen	NOUN
cblr-13858	1555	16	of	of	ADP
cblr-13858	1555	17	individual	individual	ADJ
cblr-13858	1555	18	comments	comment	NOUN
cblr-13858	1555	19	,	,	PUNCT
cblr-13858	1555	20	almost	almost	ADV
cblr-13858	1555	21	all	all	PRON
cblr-13858	1555	22	supportive	supportive	ADJ
cblr-13858	1555	23	,	,	PUNCT
cblr-13858	1555	24	plus	plus	CCONJ
cblr-13858	1555	25	almost	almost	ADV
cblr-13858	1555	26	one	one	NUM
cblr-13858	1555	27	hundred	hundred	NUM
cblr-13858	1555	28	form	form	NOUN
cblr-13858	1555	29	comments.4	comments.4	PROPN
cblr-13858	1555	30	02	02	NUM
cblr-13858	1555	31	the	the	DET
cblr-13858	1555	32	petition	petition	NOUN
cblr-13858	1555	33	even	even	ADV
cblr-13858	1555	34	has	have	VERB
cblr-13858	1555	35	its	its	PRON
cblr-13858	1555	36	own	own	ADJ
cblr-13858	1555	37	website	website	NOUN
cblr-13858	1555	38	.	.	PUNCT
cblr-13858	1555	39	"	"	PUNCT
cblr-13858	1556	1	moreover	moreover	ADV
cblr-13858	1556	2	,	,	PUNCT
cblr-13858	1556	3	the	the	DET
cblr-13858	1556	4	final	final	ADJ
cblr-13858	1556	5	report	report	NOUN
cblr-13858	1556	6	of	of	ADP
cblr-13858	1556	7	the	the	DET
cblr-13858	1556	8	2010	2010	NUM
cblr-13858	1556	9	sec	sec	PROPN
cblr-13858	1556	10	government	government	NOUN
cblr-13858	1556	11	-	-	PUNCT
cblr-13858	1556	12	business	business	NOUN
cblr-13858	1556	13	forum	forum	NOUN
cblr-13858	1556	14	on	on	ADP
cblr-13858	1556	15	small	small	ADJ
cblr-13858	1556	16	business	business	NOUN
cblr-13858	1556	17	capital	capital	NOUN
cblr-13858	1556	18	formation	formation	NOUN
cblr-13858	1556	19	recommended	recommend	VERB
cblr-13858	1556	20	a	a	DET
cblr-13858	1556	21	similar	similar	ADJ
cblr-13858	1556	22	exemption	exemption	NOUN
cblr-13858	1556	23	,	,	PUNCT
cblr-13858	1556	24	although	although	SCONJ
cblr-13858	1556	25	the	the	DET
cblr-13858	1556	26	398	398	NUM
cblr-13858	1556	27	i	i	PROPN
cblr-13858	1556	28	d.	d.	PROPN
cblr-13858	1556	29	"	"	PUNCT
cblr-13858	1556	30	see	see	VERB
cblr-13858	1556	31	lawton	lawton	PROPN
cblr-13858	1556	32	&	&	CCONJ
cblr-13858	1556	33	marom	marom	PROPN
cblr-13858	1556	34	,	,	PUNCT
cblr-13858	1556	35	supra	supra	ADJ
cblr-13858	1556	36	note	note	NOUN
cblr-13858	1556	37	2	2	NUM
cblr-13858	1556	38	,	,	PUNCT
cblr-13858	1556	39	at	at	ADP
cblr-13858	1556	40	187	187	NUM
cblr-13858	1556	41	-	-	SYM
cblr-13858	1556	42	88	88	NUM
cblr-13858	1556	43	;	;	PUNCT
cblr-13858	1556	44	crowdfunding	crowdfunde	VERB
cblr-13858	1556	45	campaign	campaign	NOUN
cblr-13858	1556	46	to	to	PART
cblr-13858	1556	47	change	change	VERB
cblr-13858	1556	48	crowdfunding	crowdfunding	NOUN
cblr-13858	1556	49	law	law	NOUN
cblr-13858	1556	50	,	,	PUNCT
cblr-13858	1556	51	indiegogo	indiegogo	NOUN
cblr-13858	1556	52	,	,	PUNCT
cblr-13858	1556	53	http://www.indiego	http://www.indiego	NOUN
cblr-13858	1556	54	go.com/change-crowdfunding-law	go.com/change-crowdfunding-law	NOUN
cblr-13858	1556	55	(	(	PUNCT
cblr-13858	1556	56	last	last	ADV
cblr-13858	1556	57	visited	visit	VERB
cblr-13858	1556	58	mar	mar	PROPN
cblr-13858	1556	59	.	.	PROPN
cblr-13858	1556	60	5	5	NUM
cblr-13858	1556	61	,	,	PUNCT
cblr-13858	1556	62	2012	2012	NUM
cblr-13858	1556	63	)	)	PUNCT
cblr-13858	1556	64	.	.	PUNCT
cblr-13858	1557	1	400	400	NUM
cblr-13858	1557	2	see	see	VERB
cblr-13858	1557	3	request	request	NOUN
cblr-13858	1557	4	for	for	ADP
cblr-13858	1557	5	rulemaking	rulemake	VERB
cblr-13858	1557	6	to	to	PART
cblr-13858	1557	7	exempt	exempt	VERB
cblr-13858	1557	8	securities	security	NOUN
cblr-13858	1557	9	offerings	offering	NOUN
cblr-13858	1557	10	up	up	ADP
cblr-13858	1557	11	to	to	PART
cblr-13858	1557	12	$	$	SYM
cblr-13858	1557	13	100,000	100,000	NUM
cblr-13858	1557	14	with	with	ADP
cblr-13858	1557	15	$	$	SYM
cblr-13858	1557	16	100	100	NUM
cblr-13858	1557	17	maximum	maximum	NOUN
cblr-13858	1557	18	per	per	ADP
cblr-13858	1557	19	investor	investor	NOUN
cblr-13858	1557	20	from	from	ADP
cblr-13858	1557	21	registration	registration	NOUN
cblr-13858	1557	22	,	,	PUNCT
cblr-13858	1557	23	sec	sec	PROPN
cblr-13858	1557	24	,	,	PUNCT
cblr-13858	1557	25	file	file	VERB
cblr-13858	1557	26	no	no	NOUN
cblr-13858	1557	27	.	.	NOUN
cblr-13858	1557	28	4	4	NUM
cblr-13858	1557	29	-	-	SYM
cblr-13858	1557	30	605	605	NUM
cblr-13858	1557	31	,	,	PUNCT
cblr-13858	1557	32	available	available	ADJ
cblr-13858	1557	33	at	at	ADP
cblr-13858	1557	34	http://www.sec.gov/rules/petitions/2010/petn4-605.p	http://www.sec.gov/rules/petitions/2010/petn4-605.p	PROPN
cblr-13858	1557	35	df	df	NOUN
cblr-13858	1557	36	.	.	PUNCT
cblr-13858	1558	1	4"o	4"o	PRON
cblr-13858	1558	2	see	see	VERB
cblr-13858	1558	3	paul	paul	PROPN
cblr-13858	1558	4	spinrad	spinrad	PROPN
cblr-13858	1558	5	,	,	PUNCT
cblr-13858	1558	6	crowdfunding	crowdfunde	VERB
cblr-13858	1558	7	exemption	exemption	NOUN
cblr-13858	1558	8	action	action	NOUN
cblr-13858	1558	9	:	:	PUNCT
cblr-13858	1558	10	file	file	VERB
cblr-13858	1558	11	no	no	NOUN
cblr-13858	1558	12	.	.	NOUN
cblr-13858	1558	13	4	4	NUM
cblr-13858	1558	14	-	-	SYM
cblr-13858	1558	15	605	605	NUM
cblr-13858	1558	16	,	,	PUNCT
cblr-13858	1558	17	boingboing	boingboing	NOUN
cblr-13858	1558	18	(	(	PUNCT
cblr-13858	1558	19	july	july	PROPN
cblr-13858	1558	20	3	3	NUM
cblr-13858	1558	21	,	,	PUNCT
cblr-13858	1558	22	2010	2010	NUM
cblr-13858	1558	23	,	,	PUNCT
cblr-13858	1558	24	3:26	3:26	NUM
cblr-13858	1558	25	am	am	NOUN
cblr-13858	1558	26	)	)	PUNCT
cblr-13858	1558	27	,	,	PUNCT
cblr-13858	1558	28	http://www.boingboing.net/2010/07	http://www.boingboing.net/2010/07	PROPN
cblr-13858	1558	29	/03	/03	SYM
cblr-13858	1558	30	/	/	SYM
cblr-13858	1558	31	sec	sec	PROPN
cblr-13858	1558	32	-	-	PUNCT
cblr-13858	1558	33	crowdfunding	crowdfunding	NOUN
cblr-13858	1558	34	-	-	PUNCT
cblr-13858	1558	35	exe.html	exe.html	NOUN
cblr-13858	1558	36	.	.	PUNCT
cblr-13858	1559	1	402	402	NUM
cblr-13858	1559	2	see	see	VERB
cblr-13858	1559	3	comments	comment	NOUN
cblr-13858	1559	4	on	on	ADP
cblr-13858	1559	5	rulemaking	rulemake	VERB
cblr-13858	1559	6	petition	petition	NOUN
cblr-13858	1559	7	:	:	PUNCT
cblr-13858	1559	8	request	request	NOUN
cblr-13858	1559	9	for	for	ADP
cblr-13858	1559	10	rulemaking	rulemake	VERB
cblr-13858	1559	11	to	to	PART
cblr-13858	1559	12	exempt	exempt	VERB
cblr-13858	1559	13	securities	security	NOUN
cblr-13858	1559	14	offerings	offering	NOUN
cblr-13858	1559	15	up	up	ADP
cblr-13858	1559	16	to	to	PART
cblr-13858	1559	17	$	$	SYM
cblr-13858	1559	18	100	100	NUM
cblr-13858	1559	19	from	from	ADP
cblr-13858	1559	20	registration	registration	NOUN
cblr-13858	1559	21	under	under	ADP
cblr-13858	1559	22	section	section	NOUN
cblr-13858	1559	23	5	5	NUM
cblr-13858	1559	24	of	of	ADP
cblr-13858	1559	25	the	the	DET
cblr-13858	1559	26	securities	security	NOUN
cblr-13858	1559	27	act	act	NOUN
cblr-13858	1559	28	of	of	ADP
cblr-13858	1559	29	1933	1933	NUM
cblr-13858	1559	30	,	,	PUNCT
cblr-13858	1559	31	sec	sec	PROPN
cblr-13858	1559	32	,	,	PUNCT
cblr-13858	1559	33	file	file	VERB
cblr-13858	1559	34	no	no	NOUN
cblr-13858	1559	35	.	.	NOUN
cblr-13858	1559	36	4	4	NUM
cblr-13858	1559	37	-	-	SYM
cblr-13858	1559	38	605	605	NUM
cblr-13858	1559	39	,	,	PUNCT
cblr-13858	1559	40	available	available	ADJ
cblr-13858	1559	41	at	at	ADP
cblr-13858	1559	42	http://www.sec.gov/comments/4-605/4-605.shtml	http://www.sec.gov/comments/4-605/4-605.shtml	PROPN
cblr-13858	1559	43	.	.	PUNCT
cblr-13858	1560	1	some	some	PRON
cblr-13858	1560	2	of	of	ADP
cblr-13858	1560	3	those	those	DET
cblr-13858	1560	4	comments	comment	NOUN
cblr-13858	1560	5	proposed	propose	VERB
cblr-13858	1560	6	raising	raise	VERB
cblr-13858	1560	7	the	the	DET
cblr-13858	1560	8	maximum	maximum	ADJ
cblr-13858	1560	9	offering	offering	NOUN
cblr-13858	1560	10	amount	amount	NOUN
cblr-13858	1560	11	and	and	CCONJ
cblr-13858	1560	12	the	the	DET
cblr-13858	1560	13	maximum	maximum	ADJ
cblr-13858	1560	14	individual	individual	ADJ
cblr-13858	1560	15	investment	investment	NOUN
cblr-13858	1560	16	.	.	PUNCT
cblr-13858	1561	1	see	see	VERB
cblr-13858	1561	2	,	,	PUNCT
cblr-13858	1561	3	e.g.	e.g.	ADV
cblr-13858	1561	4	,	,	PUNCT
cblr-13858	1561	5	the	the	DET
cblr-13858	1561	6	comments	comment	NOUN
cblr-13858	1561	7	of	of	ADP
cblr-13858	1561	8	michael	michael	PROPN
cblr-13858	1561	9	sauvante	sauvante	PROPN
cblr-13858	1561	10	(	(	PUNCT
cblr-13858	1561	11	nov	nov	PROPN
cblr-13858	1561	12	.	.	PROPN
cblr-13858	1561	13	9	9	NUM
cblr-13858	1561	14	,	,	PUNCT
cblr-13858	1561	15	2010	2010	NUM
cblr-13858	1561	16	)	)	PUNCT
cblr-13858	1561	17	;	;	PUNCT
cblr-13858	1561	18	james	james	PROPN
cblr-13858	1561	19	j.	j.	PROPN
cblr-13858	1561	20	angel	angel	PROPN
cblr-13858	1561	21	(	(	PUNCT
cblr-13858	1561	22	sept	sept	PROPN
cblr-13858	1561	23	.	.	PROPN
cblr-13858	1561	24	21	21	NUM
cblr-13858	1561	25	,	,	PUNCT
cblr-13858	1561	26	2010	2010	NUM
cblr-13858	1561	27	)	)	PUNCT
cblr-13858	1561	28	;	;	PUNCT
cblr-13858	1561	29	andres	andres	PROPN
cblr-13858	1561	30	la	la	PROPN
cblr-13858	1561	31	saga	saga	NOUN
cblr-13858	1561	32	(	(	PUNCT
cblr-13858	1561	33	aug	aug	PROPN
cblr-13858	1561	34	.	.	PROPN
cblr-13858	1561	35	24	24	NUM
cblr-13858	1561	36	,	,	PUNCT
cblr-13858	1561	37	2010	2010	NUM
cblr-13858	1561	38	)	)	PUNCT
cblr-13858	1561	39	,	,	PUNCT
cblr-13858	1561	40	comments	comment	NOUN
cblr-13858	1561	41	on	on	ADP
cblr-13858	1561	42	rulemaking	rulemake	VERB
cblr-13858	1561	43	petition	petition	NOUN
cblr-13858	1561	44	:	:	PUNCT
cblr-13858	1561	45	request	request	NOUN
cblr-13858	1561	46	for	for	ADP
cblr-13858	1561	47	rulemaking	rulemake	VERB
cblr-13858	1561	48	to	to	PART
cblr-13858	1561	49	exempt	exempt	VERB
cblr-13858	1561	50	securities	security	NOUN
cblr-13858	1561	51	offerings	offering	NOUN
cblr-13858	1561	52	up	up	ADP
cblr-13858	1561	53	to	to	PART
cblr-13858	1561	54	$	$	SYM
cblr-13858	1561	55	100	100	NUM
cblr-13858	1561	56	from	from	ADP
cblr-13858	1561	57	registration	registration	NOUN
cblr-13858	1561	58	under	under	ADP
cblr-13858	1561	59	section	section	NOUN
cblr-13858	1561	60	5	5	NUM
cblr-13858	1561	61	of	of	ADP
cblr-13858	1561	62	the	the	DET
cblr-13858	1561	63	securities	security	NOUN
cblr-13858	1561	64	act	act	NOUN
cblr-13858	1561	65	of	of	ADP
cblr-13858	1561	66	1933	1933	NUM
cblr-13858	1561	67	,	,	PUNCT
cblr-13858	1561	68	sec	sec	PROPN
cblr-13858	1561	69	,	,	PUNCT
cblr-13858	1561	70	file	file	VERB
cblr-13858	1561	71	no	no	NOUN
cblr-13858	1561	72	.	.	NOUN
cblr-13858	1562	1	4	4	NUM
cblr-13858	1562	2	-	-	SYM
cblr-13858	1562	3	605	605	NUM
cblr-13858	1562	4	,	,	PUNCT
cblr-13858	1562	5	available	available	ADJ
cblr-13858	1562	6	at	at	ADP
cblr-13858	1562	7	http://www.sec.gov/comments/4-605/4-605.shtml	http://www.sec.gov/comments/4-605/4-605.shtml	PROPN
cblr-13858	1562	8	.	.	PUNCT
cblr-13858	1563	1	see	see	VERB
cblr-13858	1563	2	also	also	ADV
cblr-13858	1563	3	pope	pope	NOUN
cblr-13858	1563	4	,	,	PUNCT
cblr-13858	1563	5	supra	supra	PROPN
cblr-13858	1563	6	note	note	PROPN
cblr-13858	1563	7	99	99	NUM
cblr-13858	1563	8	,	,	PUNCT
cblr-13858	1563	9	at	at	ADP
cblr-13858	1563	10	997	997	NUM
cblr-13858	1563	11	(	(	PUNCT
cblr-13858	1563	12	discussing	discuss	VERB
cblr-13858	1563	13	the	the	DET
cblr-13858	1563	14	selc	selc	NOUN
cblr-13858	1563	15	proposal	proposal	NOUN
cblr-13858	1563	16	and	and	CCONJ
cblr-13858	1563	17	arguing	argue	VERB
cblr-13858	1563	18	that	that	SCONJ
cblr-13858	1563	19	the	the	DET
cblr-13858	1563	20	perinvestor	perinvestor	NOUN
cblr-13858	1563	21	cap	cap	NOUN
cblr-13858	1563	22	should	should	AUX
cblr-13858	1563	23	be	be	AUX
cblr-13858	1563	24	increased	increase	VERB
cblr-13858	1563	25	to	to	ADP
cblr-13858	1563	26	$	$	SYM
cblr-13858	1563	27	1,000	1,000	NUM
cblr-13858	1563	28	and	and	CCONJ
cblr-13858	1563	29	the	the	DET
cblr-13858	1563	30	aggregate	aggregate	ADJ
cblr-13858	1563	31	offering	offering	NOUN
cblr-13858	1563	32	limit	limit	NOUN
cblr-13858	1563	33	should	should	AUX
cblr-13858	1563	34	be	be	AUX
cblr-13858	1563	35	increased	increase	VERB
cblr-13858	1563	36	to	to	ADP
cblr-13858	1563	37	$	$	SYM
cblr-13858	1563	38	250,000	250,000	NUM
cblr-13858	1563	39	)	)	PUNCT
cblr-13858	1563	40	.	.	PUNCT
cblr-13858	1564	1	403	403	NUM
cblr-13858	1564	2	see	see	VERB
cblr-13858	1564	3	change	change	NOUN
cblr-13858	1564	4	crowdfunding	crowdfunding	NOUN
cblr-13858	1564	5	law	law	NOUN
cblr-13858	1564	6	,	,	PUNCT
cblr-13858	1564	7	crowdfundinglaw.com	crowdfundinglaw.com	X
cblr-13858	1564	8	http://crowdfindinglaw.com/	http://crowdfindinglaw.com/	PROPN
cblr-13858	1564	9	(	(	PUNCT
cblr-13858	1564	10	last	last	ADV
cblr-13858	1564	11	visited	visit	VERB
cblr-13858	1564	12	mar	mar	PROPN
cblr-13858	1564	13	.	.	PROPN
cblr-13858	1564	14	5	5	NUM
cblr-13858	1564	15	,	,	PUNCT
cblr-13858	1564	16	2012	2012	NUM
cblr-13858	1564	17	)	)	PUNCT
cblr-13858	1564	18	.	.	PUNCT
cblr-13858	1565	1	82	82	NUM
cblr-13858	1566	1	[	[	X
cblr-13858	1566	2	vol	vol	NOUN
cblr-13858	1566	3	.	.	PUNCT
cblr-13858	1566	4	2012	2012	NUM
cblr-13858	1566	5	recommendation	recommendation	NOUN
cblr-13858	1566	6	does	do	AUX
cblr-13858	1566	7	not	not	PART
cblr-13858	1566	8	specifically	specifically	ADV
cblr-13858	1566	9	name	name	VERB
cblr-13858	1566	10	the	the	DET
cblr-13858	1566	11	center	center	NOUN
cblr-13858	1566	12	as	as	ADP
cblr-13858	1566	13	its	its	PRON
cblr-13858	1566	14	source.4	source.4	PROPN
cblr-13858	1566	15	04	04	NUM
cblr-13858	1566	16	b.	b.	NOUN
cblr-13858	1566	17	the	the	DET
cblr-13858	1566	18	small	small	ADJ
cblr-13858	1566	19	business	business	NOUN
cblr-13858	1566	20	&	&	CCONJ
cblr-13858	1566	21	entrepreneurship	entrepreneurship	PROPN
cblr-13858	1566	22	council	council	NOUN
cblr-13858	1566	23	proposal	proposal	NOUN
cblr-13858	1566	24	near	near	ADP
cblr-13858	1566	25	the	the	DET
cblr-13858	1566	26	end	end	NOUN
cblr-13858	1566	27	of	of	ADP
cblr-13858	1566	28	2010	2010	NUM
cblr-13858	1566	29	,	,	PUNCT
cblr-13858	1566	30	the	the	DET
cblr-13858	1566	31	small	small	ADJ
cblr-13858	1566	32	business	business	NOUN
cblr-13858	1566	33	&	&	CCONJ
cblr-13858	1566	34	entrepreneurship	entrepreneurship	PROPN
cblr-13858	1566	35	council	council	NOUN
cblr-13858	1566	36	proposed	propose	VERB
cblr-13858	1566	37	a	a	DET
cblr-13858	1566	38	similar	similar	ADJ
cblr-13858	1566	39	exemption.40	exemption.40	NOUN
cblr-13858	1566	40	5	5	NUM
cblr-13858	1566	41	the	the	DET
cblr-13858	1566	42	council	council	NOUN
cblr-13858	1566	43	's	's	PART
cblr-13858	1566	44	exemption	exemption	NOUN
cblr-13858	1566	45	was	be	AUX
cblr-13858	1566	46	also	also	ADV
cblr-13858	1566	47	included	include	VERB
cblr-13858	1566	48	in	in	ADP
cblr-13858	1566	49	,	,	PUNCT
cblr-13858	1566	50	but	but	CCONJ
cblr-13858	1566	51	not	not	PART
cblr-13858	1566	52	directly	directly	ADV
cblr-13858	1566	53	endorsed	endorse	VERB
cblr-13858	1566	54	by	by	ADP
cblr-13858	1566	55	,	,	PUNCT
cblr-13858	1566	56	the	the	DET
cblr-13858	1566	57	final	final	ADJ
cblr-13858	1566	58	report	report	NOUN
cblr-13858	1566	59	of	of	ADP
cblr-13858	1566	60	the	the	DET
cblr-13858	1566	61	2010	2010	NUM
cblr-13858	1566	62	sec	sec	PROPN
cblr-13858	1566	63	forum.4	forum.4	PROPN
cblr-13858	1566	64	06	06	NUM
cblr-13858	1566	65	the	the	DET
cblr-13858	1566	66	maximum	maximum	ADJ
cblr-13858	1566	67	offering	offering	NOUN
cblr-13858	1566	68	amount	amount	NOUN
cblr-13858	1566	69	under	under	ADP
cblr-13858	1566	70	the	the	DET
cblr-13858	1566	71	council	council	NOUN
cblr-13858	1566	72	's	's	PART
cblr-13858	1566	73	proposal	proposal	NOUN
cblr-13858	1566	74	would	would	AUX
cblr-13858	1566	75	be	be	AUX
cblr-13858	1566	76	$	$	SYM
cblr-13858	1566	77	1	1	NUM
cblr-13858	1566	78	million	million	NUM
cblr-13858	1566	79	,	,	PUNCT
cblr-13858	1566	80	and	and	CCONJ
cblr-13858	1566	81	the	the	DET
cblr-13858	1566	82	maximum	maximum	NOUN
cblr-13858	1566	83	for	for	ADP
cblr-13858	1566	84	any	any	DET
cblr-13858	1566	85	individual	individual	ADJ
cblr-13858	1566	86	investor	investor	NOUN
cblr-13858	1566	87	would	would	AUX
cblr-13858	1566	88	be	be	AUX
cblr-13858	1566	89	either	either	CCONJ
cblr-13858	1566	90	$	$	SYM
cblr-13858	1566	91	10,000	10,000	NUM
cblr-13858	1566	92	or	or	CCONJ
cblr-13858	1566	93	10	10	NUM
cblr-13858	1566	94	%	%	NOUN
cblr-13858	1566	95	of	of	ADP
cblr-13858	1566	96	the	the	DET
cblr-13858	1566	97	person	person	NOUN
cblr-13858	1566	98	's	's	PART
cblr-13858	1566	99	"	"	PUNCT
cblr-13858	1566	100	stated	state	VERB
cblr-13858	1566	101	income	income	NOUN
cblr-13858	1566	102	"	"	PUNCT
cblr-13858	1566	103	for	for	ADP
cblr-13858	1566	104	the	the	DET
cblr-13858	1566	105	prior	prior	ADJ
cblr-13858	1566	106	year.40	year.40	NOUN
cblr-13858	1566	107	7	7	NUM
cblr-13858	1566	108	offerings	offering	NOUN
cblr-13858	1566	109	could	could	AUX
cblr-13858	1566	110	be	be	AUX
cblr-13858	1566	111	made	make	VERB
cblr-13858	1566	112	on	on	ADP
cblr-13858	1566	113	sec	sec	PROPN
cblr-13858	1566	114	-	-	PUNCT
cblr-13858	1566	115	approved	approve	VERB
cblr-13858	1566	116	web	web	NOUN
cblr-13858	1566	117	sites.408	sites.408	NOUN
cblr-13858	1566	118	to	to	PART
cblr-13858	1566	119	participate	participate	VERB
cblr-13858	1566	120	in	in	ADP
cblr-13858	1566	121	such	such	DET
cblr-13858	1566	122	an	an	DET
cblr-13858	1566	123	offering	offering	NOUN
cblr-13858	1566	124	,	,	PUNCT
cblr-13858	1566	125	an	an	DET
cblr-13858	1566	126	investor	investor	NOUN
cblr-13858	1566	127	would	would	AUX
cblr-13858	1566	128	be	be	AUX
cblr-13858	1566	129	required	require	VERB
cblr-13858	1566	130	to	to	PART
cblr-13858	1566	131	take	take	VERB
cblr-13858	1566	132	an	an	DET
cblr-13858	1566	133	online	online	ADJ
cblr-13858	1566	134	test	test	NOUN
cblr-13858	1566	135	,	,	PUNCT
cblr-13858	1566	136	but	but	CCONJ
cblr-13858	1566	137	if	if	SCONJ
cblr-13858	1566	138	the	the	DET
cblr-13858	1566	139	council	council	NOUN
cblr-13858	1566	140	's	's	PART
cblr-13858	1566	141	single	single	ADJ
cblr-13858	1566	142	proposed	propose	VERB
cblr-13858	1566	143	question	question	NOUN
cblr-13858	1566	144	for	for	ADP
cblr-13858	1566	145	this	this	DET
cblr-13858	1566	146	test	test	NOUN
cblr-13858	1566	147	is	be	AUX
cblr-13858	1566	148	representative	representative	ADJ
cblr-13858	1566	149	,	,	PUNCT
cblr-13858	1566	150	the	the	DET
cblr-13858	1566	151	test	test	NOUN
cblr-13858	1566	152	would	would	AUX
cblr-13858	1566	153	be	be	AUX
cblr-13858	1566	154	more	more	ADJ
cblr-13858	1566	155	of	of	ADP
cblr-13858	1566	156	an	an	DET
cblr-13858	1566	157	interactive	interactive	ADJ
cblr-13858	1566	158	disclaimer	disclaimer	NOUN
cblr-13858	1566	159	than	than	ADP
cblr-13858	1566	160	a	a	DET
cblr-13858	1566	161	test	test	NOUN
cblr-13858	1566	162	of	of	ADP
cblr-13858	1566	163	investment	investment	NOUN
cblr-13858	1566	164	sophistication	sophistication	NOUN
cblr-13858	1566	165	.	.	PUNCT
cblr-13858	1567	1	the	the	DET
cblr-13858	1567	2	question	question	NOUN
cblr-13858	1567	3	asks	ask	VERB
cblr-13858	1567	4	whether	whether	SCONJ
cblr-13858	1567	5	investors	investor	NOUN
cblr-13858	1567	6	understand	understand	VERB
cblr-13858	1567	7	that	that	SCONJ
cblr-13858	1567	8	all	all	PRON
cblr-13858	1567	9	of	of	ADP
cblr-13858	1567	10	their	their	PRON
cblr-13858	1567	11	capital	capital	NOUN
cblr-13858	1567	12	is	be	AUX
cblr-13858	1567	13	at	at	ADP
cblr-13858	1567	14	risk.4	risk.4	PROPN
cblr-13858	1567	15	09	09	NUM
cblr-13858	1567	16	the	the	DET
cblr-13858	1567	17	council	council	NOUN
cblr-13858	1567	18	's	's	PART
cblr-13858	1567	19	proposed	propose	VERB
cblr-13858	1567	20	exemption	exemption	NOUN
cblr-13858	1567	21	would	would	AUX
cblr-13858	1567	22	not	not	PART
cblr-13858	1567	23	completely	completely	ADV
cblr-13858	1567	24	free	free	ADJ
cblr-13858	1567	25	issuers	issuer	NOUN
cblr-13858	1567	26	from	from	ADP
cblr-13858	1567	27	sec	sec	PROPN
cblr-13858	1567	28	disclosure	disclosure	NOUN
cblr-13858	1567	29	requirements	requirement	NOUN
cblr-13858	1567	30	.	.	PUNCT
cblr-13858	1568	1	issuers	issuer	NOUN
cblr-13858	1568	2	would	would	AUX
cblr-13858	1568	3	4	4	NUM
cblr-13858	1568	4	2010	2010	NUM
cblr-13858	1568	5	annual	annual	ADJ
cblr-13858	1568	6	sec	sec	PROPN
cblr-13858	1568	7	government	government	NOUN
cblr-13858	1568	8	-	-	PUNCT
cblr-13858	1568	9	business	business	NOUN
cblr-13858	1568	10	forum	forum	NOUN
cblr-13858	1568	11	on	on	ADP
cblr-13858	1568	12	small	small	ADJ
cblr-13858	1568	13	business	business	NOUN
cblr-13858	1568	14	capital	capital	NOUN
cblr-13858	1568	15	formation	formation	NOUN
cblr-13858	1568	16	,	,	PUNCT
cblr-13858	1568	17	final	final	ADJ
cblr-13858	1568	18	report	report	NOUN
cblr-13858	1568	19	21	21	NUM
cblr-13858	1568	20	(	(	PUNCT
cblr-13858	1568	21	2011	2011	NUM
cblr-13858	1568	22	)	)	PUNCT
cblr-13858	1568	23	,	,	PUNCT
cblr-13858	1568	24	available	available	ADJ
cblr-13858	1568	25	at	at	ADP
cblr-13858	1568	26	http://www.sec.gov/info/smallbus/gbfor29.pdf	http://www.sec.gov/info/smallbus/gbfor29.pdf	PROPN
cblr-13858	1568	27	(	(	PUNCT
cblr-13858	1568	28	recommending	recommend	VERB
cblr-13858	1568	29	that	that	SCONJ
cblr-13858	1568	30	the	the	DET
cblr-13858	1568	31	sec	sec	PROPN
cblr-13858	1568	32	"	"	PUNCT
cblr-13858	1568	33	exempt	exempt	ADJ
cblr-13858	1568	34	from	from	ADP
cblr-13858	1568	35	1933	1933	NUM
cblr-13858	1568	36	act	act	NOUN
cblr-13858	1568	37	registration	registration	NOUN
cblr-13858	1568	38	aggregate	aggregate	NOUN
cblr-13858	1568	39	offerings	offering	NOUN
cblr-13858	1568	40	of	of	ADP
cblr-13858	1568	41	up	up	ADP
cblr-13858	1568	42	to	to	PART
cblr-13858	1568	43	$	$	SYM
cblr-13858	1568	44	100,000	100,000	NUM
cblr-13858	1568	45	,	,	PUNCT
cblr-13858	1568	46	where	where	SCONJ
cblr-13858	1568	47	each	each	DET
cblr-13858	1568	48	individual	individual	NOUN
cblr-13858	1568	49	may	may	AUX
cblr-13858	1568	50	invest	invest	VERB
cblr-13858	1568	51	no	no	PRON
cblr-13858	1568	52	more	more	ADJ
cblr-13858	1568	53	than	than	ADP
cblr-13858	1568	54	a	a	DET
cblr-13858	1568	55	certain	certain	ADJ
cblr-13858	1568	56	maximum	maximum	ADJ
cblr-13858	1568	57	amount	amount	NOUN
cblr-13858	1568	58	,	,	PUNCT
cblr-13858	1568	59	say	say	VERB
cblr-13858	1568	60	$	$	SYM
cblr-13858	1568	61	100	100	NUM
cblr-13858	1568	62	per	per	ADP
cblr-13858	1568	63	individual	individual	NOUN
cblr-13858	1568	64	"	"	PUNCT
cblr-13858	1568	65	)	)	PUNCT
cblr-13858	1568	66	.	.	PUNCT
cblr-13858	1569	1	40	40	NUM
cblr-13858	1569	2	see	see	VERB
cblr-13858	1569	3	sbe	sbe	PROPN
cblr-13858	1569	4	council	council	NOUN
cblr-13858	1569	5	proposal	proposal	NOUN
cblr-13858	1569	6	,	,	PUNCT
cblr-13858	1569	7	supra	supra	PROPN
cblr-13858	1569	8	note	note	NOUN
cblr-13858	1569	9	247	247	NUM
cblr-13858	1569	10	.	.	NOUN
cblr-13858	1569	11	4	4	NUM
cblr-13858	1569	12	see	see	VERB
cblr-13858	1569	13	2010	2010	NUM
cblr-13858	1569	14	annual	annual	ADJ
cblr-13858	1569	15	sec	sec	PROPN
cblr-13858	1569	16	government	government	NOUN
cblr-13858	1569	17	-	-	PUNCT
cblr-13858	1569	18	business	business	NOUN
cblr-13858	1569	19	forum	forum	NOUN
cblr-13858	1569	20	on	on	ADP
cblr-13858	1569	21	small	small	ADJ
cblr-13858	1569	22	business	business	NOUN
cblr-13858	1569	23	capital	capital	NOUN
cblr-13858	1569	24	formation	formation	NOUN
cblr-13858	1569	25	,	,	PUNCT
cblr-13858	1569	26	supra	supra	PROPN
cblr-13858	1569	27	note	note	NOUN
cblr-13858	1569	28	404	404	NUM
cblr-13858	1569	29	,	,	PUNCT
cblr-13858	1569	30	at	at	ADP
cblr-13858	1569	31	29	29	NUM
cblr-13858	1569	32	-	-	SYM
cblr-13858	1569	33	30	30	NUM
cblr-13858	1569	34	.	.	PUNCT
cblr-13858	1570	1	407	407	NUM
cblr-13858	1570	2	sbe	sbe	PROPN
cblr-13858	1570	3	council	council	NOUN
cblr-13858	1570	4	proposal	proposal	NOUN
cblr-13858	1570	5	,	,	PUNCT
cblr-13858	1570	6	supra	supra	PROPN
cblr-13858	1570	7	note	note	NOUN
cblr-13858	1570	8	247	247	NUM
cblr-13858	1570	9	,	,	PUNCT
cblr-13858	1570	10	at	at	ADP
cblr-13858	1570	11	4	4	NUM
cblr-13858	1570	12	.	.	PUNCT
cblr-13858	1571	1	it	it	PRON
cblr-13858	1571	2	is	be	AUX
cblr-13858	1571	3	not	not	PART
cblr-13858	1571	4	clear	clear	ADJ
cblr-13858	1571	5	from	from	ADP
cblr-13858	1571	6	the	the	DET
cblr-13858	1571	7	proposal	proposal	NOUN
cblr-13858	1571	8	exactly	exactly	ADV
cblr-13858	1571	9	what	what	PRON
cblr-13858	1571	10	"	"	PUNCT
cblr-13858	1571	11	stated	stated	ADJ
cblr-13858	1571	12	income	income	NOUN
cblr-13858	1571	13	"	"	PUNCT
cblr-13858	1571	14	means	mean	VERB
cblr-13858	1571	15	or	or	CCONJ
cblr-13858	1571	16	whether	whether	SCONJ
cblr-13858	1571	17	the	the	DET
cblr-13858	1571	18	individual	individual	ADJ
cblr-13858	1571	19	limit	limit	NOUN
cblr-13858	1571	20	is	be	AUX
cblr-13858	1571	21	supposed	suppose	VERB
cblr-13858	1571	22	to	to	PART
cblr-13858	1571	23	select	select	VERB
cblr-13858	1571	24	the	the	DET
cblr-13858	1571	25	greater	great	ADJ
cblr-13858	1571	26	or	or	CCONJ
cblr-13858	1571	27	the	the	DET
cblr-13858	1571	28	lesser	less	ADJ
cblr-13858	1571	29	of	of	ADP
cblr-13858	1571	30	the	the	DET
cblr-13858	1571	31	two	two	NUM
cblr-13858	1571	32	amounts	amount	NOUN
cblr-13858	1571	33	.	.	PUNCT
cblr-13858	1572	1	4	4	NUM
cblr-13858	1572	2	i	i	PRON
cblr-13858	1572	3	d.	d.	NOUN
cblr-13858	1572	4	at	at	ADP
cblr-13858	1572	5	5	5	NUM
cblr-13858	1572	6	.	.	PUNCT
cblr-13858	1573	1	the	the	DET
cblr-13858	1573	2	council	council	NOUN
cblr-13858	1573	3	's	's	PART
cblr-13858	1573	4	proposal	proposal	NOUN
cblr-13858	1573	5	suggests	suggest	VERB
cblr-13858	1573	6	that	that	SCONJ
cblr-13858	1573	7	the	the	DET
cblr-13858	1573	8	organizations	organization	NOUN
cblr-13858	1573	9	hosting	host	VERB
cblr-13858	1573	10	such	such	ADJ
cblr-13858	1573	11	sites	site	NOUN
cblr-13858	1573	12	could	could	AUX
cblr-13858	1573	13	vet	vet	VERB
cblr-13858	1573	14	the	the	DET
cblr-13858	1573	15	issuers	issuer	NOUN
cblr-13858	1573	16	and	and	CCONJ
cblr-13858	1573	17	investors	investor	NOUN
cblr-13858	1573	18	,	,	PUNCT
cblr-13858	1573	19	a	a	DET
cblr-13858	1573	20	process	process	NOUN
cblr-13858	1573	21	that	that	PRON
cblr-13858	1573	22	might	might	AUX
cblr-13858	1573	23	create	create	VERB
cblr-13858	1573	24	issues	issue	NOUN
cblr-13858	1573	25	under	under	ADP
cblr-13858	1573	26	the	the	DET
cblr-13858	1573	27	investment	investment	NOUN
cblr-13858	1573	28	advisers	adviser	NOUN
cblr-13858	1573	29	act	act	VERB
cblr-13858	1573	30	.	.	PUNCT
cblr-13858	1574	1	that	that	DET
cblr-13858	1574	2	aspect	aspect	NOUN
cblr-13858	1574	3	of	of	ADP
cblr-13858	1574	4	the	the	DET
cblr-13858	1574	5	council	council	NOUN
cblr-13858	1574	6	's	's	PART
cblr-13858	1574	7	proposal	proposal	NOUN
cblr-13858	1574	8	is	be	AUX
cblr-13858	1574	9	not	not	PART
cblr-13858	1574	10	discussed	discuss	VERB
cblr-13858	1574	11	here	here	ADV
cblr-13858	1574	12	.	.	PUNCT
cblr-13858	1575	1	41	41	NUM
cblr-13858	1575	2	see	see	VERB
cblr-13858	1575	3	i	i	PRON
cblr-13858	1575	4	d.	d.	PROPN
cblr-13858	1575	5	83no	83no	PROPN
cblr-13858	1575	6	.	.	PUNCT
cblr-13858	1576	1	1	1	NUM
cblr-13858	1576	2	:	:	SYM
cblr-13858	1576	3	1	1	NUM
cblr-13858	1576	4	]	]	PUNCT
cblr-13858	1576	5	cro	cro	NOUN
cblr-13858	1576	6	wdfunding	wdfunding	NOUN
cblr-13858	1576	7	and	and	CCONJ
cblr-13858	1576	8	securities	security	NOUN
cblr-13858	1576	9	la	la	PRON
cblr-13858	1576	10	ws	ws	PROPN
cblr-13858	1576	11	have	have	VERB
cblr-13858	1576	12	to	to	PART
cblr-13858	1576	13	provide	provide	VERB
cblr-13858	1576	14	disclosure	disclosure	NOUN
cblr-13858	1576	15	on	on	ADP
cblr-13858	1576	16	something	something	PRON
cblr-13858	1576	17	similar	similar	ADJ
cblr-13858	1576	18	to	to	ADP
cblr-13858	1576	19	the	the	DET
cblr-13858	1576	20	small	small	ADJ
cblr-13858	1576	21	company	company	NOUN
cblr-13858	1576	22	offering	offer	VERB
cblr-13858	1576	23	registration	registration	NOUN
cblr-13858	1576	24	(	(	PUNCT
cblr-13858	1576	25	"	"	PUNCT
cblr-13858	1576	26	scor	scor	ADJ
cblr-13858	1576	27	"	"	PUNCT
cblr-13858	1576	28	)	)	PUNCT
cblr-13858	1576	29	form	form	NOUN
cblr-13858	1576	30	used	use	VERB
cblr-13858	1576	31	by	by	ADP
cblr-13858	1576	32	the	the	DET
cblr-13858	1576	33	states.o	states.o	PROPN
cblr-13858	1576	34	c.	c.	NOUN
cblr-13858	1576	35	the	the	DET
cblr-13858	1576	36	startup	startup	NOUN
cblr-13858	1576	37	exemption	exemption	NOUN
cblr-13858	1576	38	proposal	proposal	NOUN
cblr-13858	1576	39	entrepreneur	entrepreneur	NOUN
cblr-13858	1576	40	sherwood	sherwood	PROPN
cblr-13858	1576	41	neissm1	neissm1	PROPN
cblr-13858	1576	42	has	have	AUX
cblr-13858	1576	43	created	create	VERB
cblr-13858	1576	44	an	an	DET
cblr-13858	1576	45	online	online	ADJ
cblr-13858	1576	46	petition	petition	NOUN
cblr-13858	1576	47	in	in	ADP
cblr-13858	1576	48	favor	favor	NOUN
cblr-13858	1576	49	of	of	ADP
cblr-13858	1576	50	another	another	DET
cblr-13858	1576	51	crowdfunding	crowdfunding	NOUN
cblr-13858	1576	52	exemption.4	exemption.4	NOUN
cblr-13858	1576	53	12	12	NUM
cblr-13858	1576	54	the	the	DET
cblr-13858	1576	55	petition	petition	NOUN
cblr-13858	1576	56	calls	call	VERB
cblr-13858	1576	57	for	for	ADP
cblr-13858	1576	58	a	a	DET
cblr-13858	1576	59	$	$	SYM
cblr-13858	1576	60	1	1	NUM
cblr-13858	1576	61	million	million	NUM
cblr-13858	1576	62	exemption	exemption	NOUN
cblr-13858	1576	63	,	,	PUNCT
cblr-13858	1576	64	available	available	ADJ
cblr-13858	1576	65	only	only	ADV
cblr-13858	1576	66	to	to	ADP
cblr-13858	1576	67	businesses	business	NOUN
cblr-13858	1576	68	with	with	ADP
cblr-13858	1576	69	annual	annual	ADJ
cblr-13858	1576	70	gross	gross	ADJ
cblr-13858	1576	71	revenues	revenue	NOUN
cblr-13858	1576	72	of	of	ADP
cblr-13858	1576	73	less	less	ADJ
cblr-13858	1576	74	than	than	ADP
cblr-13858	1576	75	$	$	SYM
cblr-13858	1576	76	5	5	NUM
cblr-13858	1576	77	million	million	NUM
cblr-13858	1576	78	during	during	ADP
cblr-13858	1576	79	the	the	DET
cblr-13858	1576	80	prior	prior	ADJ
cblr-13858	1576	81	three	three	NUM
cblr-13858	1576	82	years	year	NOUN
cblr-13858	1576	83	.	.	PUNCT
cblr-13858	1577	1	all	all	DET
cblr-13858	1577	2	investors	investor	NOUN
cblr-13858	1577	3	would	would	AUX
cblr-13858	1577	4	have	have	VERB
cblr-13858	1577	5	"	"	PUNCT
cblr-13858	1577	6	to	to	PART
cblr-13858	1577	7	complete	complete	VERB
cblr-13858	1577	8	a	a	DET
cblr-13858	1577	9	questionnaire	questionnaire	NOUN
cblr-13858	1577	10	to	to	PART
cblr-13858	1577	11	determine	determine	VERB
cblr-13858	1577	12	their	their	PRON
cblr-13858	1577	13	aptitude	aptitude	NOUN
cblr-13858	1577	14	to	to	PART
cblr-13858	1577	15	participate	participate	VERB
cblr-13858	1577	16	.	.	PUNCT
cblr-13858	1577	17	.	.	PUNCT
cblr-13858	1577	18	.	.	PUNCT
cblr-13858	1578	1	and	and	CCONJ
cblr-13858	1578	2	answer	answer	VERB
cblr-13858	1578	3	a	a	DET
cblr-13858	1578	4	series	series	NOUN
cblr-13858	1578	5	of	of	ADP
cblr-13858	1578	6	disclosures	disclosure	NOUN
cblr-13858	1578	7	"	"	PUNCT
cblr-13858	1578	8	to	to	PART
cblr-13858	1578	9	demonstrate	demonstrate	VERB
cblr-13858	1578	10	that	that	SCONJ
cblr-13858	1578	11	they	they	PRON
cblr-13858	1578	12	have	have	VERB
cblr-13858	1578	13	sufficient	sufficient	ADJ
cblr-13858	1578	14	knowledge	knowledge	NOUN
cblr-13858	1578	15	and	and	CCONJ
cblr-13858	1578	16	experience	experience	NOUN
cblr-13858	1578	17	to	to	PART
cblr-13858	1578	18	invest	invest	VERB
cblr-13858	1578	19	.	.	PUNCT
cblr-13858	1578	20	'	'	PUNCT
cblr-13858	1579	1	unaccredited	unaccredited	ADJ
cblr-13858	1579	2	investors	investor	NOUN
cblr-13858	1579	3	would	would	AUX
cblr-13858	1579	4	not	not	PART
cblr-13858	1579	5	be	be	AUX
cblr-13858	1579	6	able	able	ADJ
cblr-13858	1579	7	to	to	PART
cblr-13858	1579	8	invest	invest	VERB
cblr-13858	1579	9	more	more	ADJ
cblr-13858	1579	10	than	than	ADP
cblr-13858	1579	11	$	$	SYM
cblr-13858	1579	12	10,000.m11	10,000.m11	NUM
cblr-13858	1579	13	the	the	DET
cblr-13858	1579	14	platforms	platform	NOUN
cblr-13858	1579	15	hosting	host	VERB
cblr-13858	1579	16	these	these	DET
cblr-13858	1579	17	offerings	offering	NOUN
cblr-13858	1579	18	would	would	AUX
cblr-13858	1579	19	be	be	AUX
cblr-13858	1579	20	required	require	VERB
cblr-13858	1579	21	to	to	PART
cblr-13858	1579	22	register	register	VERB
cblr-13858	1579	23	with	with	ADP
cblr-13858	1579	24	the	the	DET
cblr-13858	1579	25	sec	sec	PROPN
cblr-13858	1579	26	but	but	CCONJ
cblr-13858	1579	27	would	would	AUX
cblr-13858	1579	28	not	not	PART
cblr-13858	1579	29	need	need	VERB
cblr-13858	1579	30	a	a	DET
cblr-13858	1579	31	broker	broker	NOUN
cblr-13858	1579	32	's	's	PART
cblr-13858	1579	33	license.416	license.416	NUM
cblr-13858	1579	34	offerings	offering	NOUN
cblr-13858	1579	35	pursuant	pursuant	ADJ
cblr-13858	1579	36	to	to	ADP
cblr-13858	1579	37	the	the	DET
cblr-13858	1579	38	exemption	exemption	NOUN
cblr-13858	1579	39	would	would	AUX
cblr-13858	1579	40	also	also	ADV
cblr-13858	1579	41	be	be	AUX
cblr-13858	1579	42	exempted	exempt	VERB
cblr-13858	1579	43	from	from	ADP
cblr-13858	1579	44	state	state	NOUN
cblr-13858	1579	45	registration	registration	NOUN
cblr-13858	1579	46	requirements	requirement	NOUN
cblr-13858	1579	47	but	but	CCONJ
cblr-13858	1579	48	would	would	AUX
cblr-13858	1579	49	have	have	VERB
cblr-13858	1579	50	to	to	PART
cblr-13858	1579	51	file	file	VERB
cblr-13858	1579	52	a	a	DET
cblr-13858	1579	53	notice	notice	NOUN
cblr-13858	1579	54	with	with	ADP
cblr-13858	1579	55	the	the	DET
cblr-13858	1579	56	states.1	states.1	PROPN
cblr-13858	1579	57	d.	d.	PROPN
cblr-13858	1579	58	the	the	DET
cblr-13858	1579	59	white	white	PROPN
cblr-13858	1579	60	house	house	PROPN
cblr-13858	1579	61	endorsement	endorsement	NOUN
cblr-13858	1579	62	on	on	ADP
cblr-13858	1579	63	september	september	PROPN
cblr-13858	1579	64	8	8	NUM
cblr-13858	1579	65	,	,	PUNCT
cblr-13858	1579	66	2011	2011	NUM
cblr-13858	1579	67	,	,	PUNCT
cblr-13858	1579	68	the	the	DET
cblr-13858	1579	69	white	white	PROPN
cblr-13858	1579	70	house	house	PROPN
cblr-13858	1579	71	released	release	VERB
cblr-13858	1579	72	a	a	DET
cblr-13858	1579	73	"	"	PUNCT
cblr-13858	1579	74	fact	fact	NOUN
cblr-13858	1579	75	sheet	sheet	NOUN
cblr-13858	1579	76	and	and	CCONJ
cblr-13858	1579	77	overview	overview	NOUN
cblr-13858	1579	78	"	"	PUNCT
cblr-13858	1579	79	detailing	detail	VERB
cblr-13858	1579	80	president	president	PROPN
cblr-13858	1579	81	obama	obama	PROPN
cblr-13858	1579	82	's	's	PART
cblr-13858	1579	83	proposed	propose	VERB
cblr-13858	1579	84	410	410	NUM
cblr-13858	1579	85	see	see	VERB
cblr-13858	1579	86	i	i	PRON
cblr-13858	1579	87	d.	d.	PROPN
cblr-13858	1579	88	at	at	ADP
cblr-13858	1579	89	4	4	NUM
cblr-13858	1579	90	.	.	PUNCT
cblr-13858	1580	1	see	see	VERB
cblr-13858	1580	2	also	also	ADV
cblr-13858	1580	3	scor	scor	PROPN
cblr-13858	1580	4	forms	form	NOUN
cblr-13858	1580	5	,	,	PUNCT
cblr-13858	1580	6	nasaa	nasaa	PROPN
cblr-13858	1580	7	,	,	PUNCT
cblr-13858	1580	8	http://www.nasaa.org/	http://www.nasaa.org/	NOUN
cblr-13858	1580	9	industry	industry	NOUN
cblr-13858	1580	10	-	-	PUNCT
cblr-13858	1580	11	resources	resource	NOUN
cblr-13858	1580	12	/	/	SYM
cblr-13858	1580	13	corporation	corporation	NOUN
cblr-13858	1580	14	-	-	PUNCT
cblr-13858	1580	15	finance	finance	NOUN
cblr-13858	1580	16	/	/	SYM
cblr-13858	1580	17	scor	scor	NOUN
cblr-13858	1580	18	-	-	PUNCT
cblr-13858	1580	19	overview	overview	NOUN
cblr-13858	1580	20	/	/	SYM
cblr-13858	1580	21	scor	scor	PROPN
cblr-13858	1580	22	-	-	PUNCT
cblr-13858	1580	23	forms/	forms/	NUM
cblr-13858	1580	24	(	(	PUNCT
cblr-13858	1580	25	last	last	ADV
cblr-13858	1580	26	visited	visit	VERB
cblr-13858	1580	27	mar	mar	PROPN
cblr-13858	1580	28	.	.	PROPN
cblr-13858	1580	29	5	5	NUM
cblr-13858	1580	30	,	,	PUNCT
cblr-13858	1580	31	2012	2012	NUM
cblr-13858	1580	32	)	)	PUNCT
cblr-13858	1580	33	.	.	PUNCT
cblr-13858	1581	1	41	41	NUM
cblr-13858	1581	2	see	see	VERB
cblr-13858	1581	3	about	about	ADP
cblr-13858	1581	4	us	we	PRON
cblr-13858	1581	5	,	,	PUNCT
cblr-13858	1581	6	startup	startup	NOUN
cblr-13858	1581	7	exemption	exemption	NOUN
cblr-13858	1581	8	,	,	PUNCT
cblr-13858	1581	9	http://www.startup	http://www.startup	PROPN
cblr-13858	1581	10	exemption.com/about-us#axzzlidargvy9	exemption.com/about-us#axzzlidargvy9	PROPN
cblr-13858	1581	11	(	(	PUNCT
cblr-13858	1581	12	last	last	ADV
cblr-13858	1581	13	visited	visit	VERB
cblr-13858	1581	14	mar	mar	PROPN
cblr-13858	1581	15	.	.	PROPN
cblr-13858	1581	16	5	5	NUM
cblr-13858	1581	17	,	,	PUNCT
cblr-13858	1581	18	2012	2012	NUM
cblr-13858	1581	19	)	)	PUNCT
cblr-13858	1581	20	.	.	PUNCT
cblr-13858	1582	1	412	412	NUM
cblr-13858	1582	2	see	see	VERB
cblr-13858	1582	3	startup	startup	NOUN
cblr-13858	1582	4	exemption	exemption	NOUN
cblr-13858	1582	5	,	,	PUNCT
cblr-13858	1582	6	http://www.startupexemption.com	http://www.startupexemption.com	X
cblr-13858	1583	1	(	(	PUNCT
cblr-13858	1583	2	last	last	ADJ
cblr-13858	1583	3	visited	visit	VERB
cblr-13858	1583	4	mar	mar	PROPN
cblr-13858	1583	5	.	.	PROPN
cblr-13858	1583	6	5	5	NUM
cblr-13858	1583	7	,	,	PUNCT
cblr-13858	1583	8	2012	2012	NUM
cblr-13858	1583	9	)	)	PUNCT
cblr-13858	1583	10	.	.	PUNCT
cblr-13858	1584	1	413	413	NUM
cblr-13858	1584	2	see	see	VERB
cblr-13858	1584	3	exemption	exemption	NOUN
cblr-13858	1584	4	framework	framework	NOUN
cblr-13858	1584	5	1	1	NUM
cblr-13858	1584	6	,	,	PUNCT
cblr-13858	1584	7	startup	startup	NOUN
cblr-13858	1584	8	exemption	exemption	NOUN
cblr-13858	1584	9	,	,	PUNCT
cblr-13858	1584	10	http://www.startupexemption.com/exemption-framework#axzzlidargvy9	http://www.startupexemption.com/exemption-framework#axzzlidargvy9	X
cblr-13858	1584	11	(	(	PUNCT
cblr-13858	1584	12	last	last	ADJ
cblr-13858	1584	13	visited	visit	VERB
cblr-13858	1584	14	mar	mar	PROPN
cblr-13858	1584	15	.	.	PROPN
cblr-13858	1584	16	5	5	NUM
cblr-13858	1584	17	,	,	PUNCT
cblr-13858	1584	18	2012	2012	NUM
cblr-13858	1584	19	)	)	PUNCT
cblr-13858	1584	20	.	.	PUNCT
cblr-13858	1585	1	414	414	NUM
cblr-13858	1586	1	i	i	PRON
cblr-13858	1586	2	d.	d.	PROPN
cblr-13858	1586	3	3	3	NUM
cblr-13858	1586	4	.	.	X
cblr-13858	1587	1	415	415	NUM
cblr-13858	1588	1	i	i	NOUN
cblr-13858	1588	2	d.	d.	PROPN
cblr-13858	1588	3	2	2	NUM
cblr-13858	1588	4	.	.	PUNCT
cblr-13858	1589	1	416	416	NUM
cblr-13858	1589	2	i	i	PRON
cblr-13858	1589	3	d.	d.	PROPN
cblr-13858	1589	4	6	6	NUM
cblr-13858	1589	5	,	,	PUNCT
cblr-13858	1589	6	8	8	NUM
cblr-13858	1589	7	.	.	PUNCT
cblr-13858	1590	1	it	it	PRON
cblr-13858	1590	2	is	be	AUX
cblr-13858	1590	3	unclear	unclear	ADJ
cblr-13858	1590	4	exactly	exactly	ADV
cblr-13858	1590	5	what	what	PRON
cblr-13858	1590	6	requirements	requirement	VERB
cblr-13858	1590	7	this	this	DET
cblr-13858	1590	8	registration	registration	NOUN
cblr-13858	1590	9	would	would	AUX
cblr-13858	1590	10	entail	entail	VERB
cblr-13858	1590	11	.	.	PUNCT
cblr-13858	1591	1	417	417	NUM
cblr-13858	1592	1	i	i	PRON
cblr-13858	1592	2	d.	d.	PROPN
cblr-13858	1592	3	5	5	NUM
cblr-13858	1592	4	.	.	PUNCT
cblr-13858	1593	1	coluama	coluama	PROPN
cblr-13858	1593	2	business	business	NOUN
cblr-13858	1593	3	law	law	NOUN
cblr-13858	1593	4	review	review	NOUN
cblr-13858	1594	1	[	[	X
cblr-13858	1594	2	vol	vol	NOUN
cblr-13858	1594	3	.	.	PUNCT
cblr-13858	1595	1	201284	201284	NUM
cblr-13858	1595	2	job	job	NOUN
cblr-13858	1595	3	-	-	PUNCT
cblr-13858	1595	4	creating	create	VERB
cblr-13858	1595	5	measures.4	measures.4	NOUN
cblr-13858	1595	6	18	18	NUM
cblr-13858	1595	7	buried	bury	VERB
cblr-13858	1595	8	in	in	ADP
cblr-13858	1595	9	that	that	DET
cblr-13858	1595	10	ten	ten	NUM
cblr-13858	1595	11	-	-	PUNCT
cblr-13858	1595	12	page	page	NOUN
cblr-13858	1595	13	document	document	NOUN
cblr-13858	1595	14	is	be	AUX
cblr-13858	1595	15	a	a	DET
cblr-13858	1595	16	single	single	ADJ
cblr-13858	1595	17	sentence	sentence	NOUN
cblr-13858	1595	18	about	about	ADP
cblr-13858	1595	19	crowdfunding	crowdfunde	VERB
cblr-13858	1595	20	:	:	PUNCT
cblr-13858	1595	21	"	"	PUNCT
cblr-13858	1595	22	the	the	DET
cblr-13858	1595	23	administration	administration	NOUN
cblr-13858	1595	24	also	also	ADV
cblr-13858	1595	25	supports	support	VERB
cblr-13858	1595	26	establishing	establish	VERB
cblr-13858	1595	27	a	a	DET
cblr-13858	1595	28	'	'	PUNCT
cblr-13858	1595	29	crowdfunding	crowdfunding	NOUN
cblr-13858	1595	30	'	'	PUNCT
cblr-13858	1595	31	exemption	exemption	NOUN
cblr-13858	1595	32	from	from	ADP
cblr-13858	1595	33	sec	sec	PROPN
cblr-13858	1595	34	registration	registration	NOUN
cblr-13858	1595	35	requirements	requirement	NOUN
cblr-13858	1595	36	for	for	ADP
cblr-13858	1595	37	firms	firm	NOUN
cblr-13858	1595	38	raising	raise	VERB
cblr-13858	1595	39	less	less	ADJ
cblr-13858	1595	40	than	than	ADP
cblr-13858	1595	41	$	$	SYM
cblr-13858	1595	42	1	1	NUM
cblr-13858	1595	43	million	million	NUM
cblr-13858	1595	44	(	(	PUNCT
cblr-13858	1595	45	with	with	ADP
cblr-13858	1595	46	individual	individual	ADJ
cblr-13858	1595	47	investments	investment	NOUN
cblr-13858	1595	48	limited	limit	VERB
cblr-13858	1595	49	to	to	ADP
cblr-13858	1595	50	$	$	SYM
cblr-13858	1595	51	10,000	10,000	NUM
cblr-13858	1595	52	or	or	CCONJ
cblr-13858	1595	53	10	10	NUM
cblr-13858	1595	54	%	%	NOUN
cblr-13858	1595	55	of	of	ADP
cblr-13858	1595	56	investors	investor	NOUN
cblr-13858	1595	57	'	'	PART
cblr-13858	1595	58	annual	annual	ADJ
cblr-13858	1595	59	income	income	NOUN
cblr-13858	1595	60	)	)	PUNCT
cblr-13858	1595	61	.	.	PUNCT
cblr-13858	1595	62	.	.	PUNCT
cblr-13858	1595	63	.	.	PUNCT
cblr-13858	1596	1	."r	."r	PROPN
cblr-13858	1597	1	th1	th1	PROPN
cblr-13858	1597	2	telease	telease	NOUN
cblr-13858	1597	3	provides	provide	VERB
cblr-13858	1597	4	no	no	DET
cblr-13858	1597	5	further	further	ADJ
cblr-13858	1597	6	details	detail	NOUN
cblr-13858	1597	7	.	.	PUNCT
cblr-13858	1598	1	the	the	DET
cblr-13858	1598	2	proposed	propose	VERB
cblr-13858	1598	3	offering	offering	NOUN
cblr-13858	1598	4	and	and	CCONJ
cblr-13858	1598	5	individual	individual	ADJ
cblr-13858	1598	6	investment	investment	NOUN
cblr-13858	1598	7	limits	limit	NOUN
cblr-13858	1598	8	match	match	VERB
cblr-13858	1598	9	those	those	PRON
cblr-13858	1598	10	in	in	ADP
cblr-13858	1598	11	the	the	DET
cblr-13858	1598	12	small	small	ADJ
cblr-13858	1598	13	business	business	NOUN
cblr-13858	1598	14	&	&	CCONJ
cblr-13858	1598	15	entrepreneurship	entrepreneurship	PROPN
cblr-13858	1598	16	council	council	NOUN
cblr-13858	1598	17	proposal	proposal	NOUN
cblr-13858	1598	18	,	,	PUNCT
cblr-13858	1598	19	but	but	CCONJ
cblr-13858	1598	20	the	the	DET
cblr-13858	1598	21	release	release	NOUN
cblr-13858	1598	22	neither	neither	PRON
cblr-13858	1598	23	acknowledges	acknowledge	VERB
cblr-13858	1598	24	that	that	SCONJ
cblr-13858	1598	25	proposal	proposal	NOUN
cblr-13858	1598	26	nor	nor	CCONJ
cblr-13858	1598	27	indicates	indicate	VERB
cblr-13858	1598	28	whether	whether	SCONJ
cblr-13858	1598	29	the	the	DET
cblr-13858	1598	30	president	president	NOUN
cblr-13858	1598	31	supports	support	VERB
cblr-13858	1598	32	the	the	DET
cblr-13858	1598	33	other	other	ADJ
cblr-13858	1598	34	requirements	requirement	NOUN
cblr-13858	1598	35	in	in	ADP
cblr-13858	1598	36	that	that	DET
cblr-13858	1598	37	proposal	proposal	NOUN
cblr-13858	1598	38	.	.	PUNCT
cblr-13858	1599	1	e.	e.	PROPN
cblr-13858	1599	2	sec	sec	PROPN
cblr-13858	1599	3	activity	activity	NOUN
cblr-13858	1599	4	the	the	DET
cblr-13858	1599	5	sec	sec	PROPN
cblr-13858	1599	6	has	have	AUX
cblr-13858	1599	7	not	not	PART
cblr-13858	1599	8	yet	yet	ADV
cblr-13858	1599	9	proposed	propose	VERB
cblr-13858	1599	10	a	a	DET
cblr-13858	1599	11	crowdfunding	crowdfunding	NOUN
cblr-13858	1599	12	exemption	exemption	NOUN
cblr-13858	1599	13	or	or	CCONJ
cblr-13858	1599	14	officially	officially	ADV
cblr-13858	1599	15	responded	respond	VERB
cblr-13858	1599	16	to	to	ADP
cblr-13858	1599	17	any	any	PRON
cblr-13858	1599	18	of	of	ADP
cblr-13858	1599	19	the	the	DET
cblr-13858	1599	20	exemption	exemption	NOUN
cblr-13858	1599	21	proposals	proposal	NOUN
cblr-13858	1599	22	detailed	detail	VERB
cblr-13858	1599	23	above	above	ADV
cblr-13858	1599	24	.	.	PUNCT
cblr-13858	1600	1	it	it	PRON
cblr-13858	1600	2	has	have	AUX
cblr-13858	1600	3	,	,	PUNCT
cblr-13858	1600	4	however	however	ADV
cblr-13858	1600	5	,	,	PUNCT
cblr-13858	1600	6	agreed	agree	VERB
cblr-13858	1600	7	to	to	PART
cblr-13858	1600	8	consider	consider	VERB
cblr-13858	1600	9	some	some	DET
cblr-13858	1600	10	kind	kind	NOUN
cblr-13858	1600	11	of	of	ADP
cblr-13858	1600	12	special	special	ADJ
cblr-13858	1600	13	treatment	treatment	NOUN
cblr-13858	1600	14	for	for	ADP
cblr-13858	1600	15	crowdfunding	crowdfunding	NOUN
cblr-13858	1600	16	.	.	PUNCT
cblr-13858	1601	1	on	on	ADP
cblr-13858	1601	2	march	march	PROPN
cblr-13858	1601	3	22	22	NUM
cblr-13858	1601	4	,	,	PUNCT
cblr-13858	1601	5	2011	2011	NUM
cblr-13858	1601	6	,	,	PUNCT
cblr-13858	1601	7	congressman	congressman	PROPN
cblr-13858	1601	8	darrell	darrell	PROPN
cblr-13858	1601	9	issa	issa	PROPN
cblr-13858	1601	10	,	,	PUNCT
cblr-13858	1601	11	chairman	chairman	NOUN
cblr-13858	1601	12	of	of	ADP
cblr-13858	1601	13	the	the	DET
cblr-13858	1601	14	house	house	PROPN
cblr-13858	1601	15	committee	committee	PROPN
cblr-13858	1601	16	on	on	ADP
cblr-13858	1601	17	oversight	oversight	NOUN
cblr-13858	1601	18	and	and	CCONJ
cblr-13858	1601	19	government	government	NOUN
cblr-13858	1601	20	reform	reform	NOUN
cblr-13858	1601	21	,	,	PUNCT
cblr-13858	1601	22	sent	send	VERB
cblr-13858	1601	23	a	a	DET
cblr-13858	1601	24	seventeen	seventeen	NUM
cblr-13858	1601	25	-	-	PUNCT
cblr-13858	1601	26	page	page	NOUN
cblr-13858	1601	27	letter	letter	NOUN
cblr-13858	1601	28	to	to	ADP
cblr-13858	1601	29	mary	mary	PROPN
cblr-13858	1601	30	schapiro	schapiro	PROPN
cblr-13858	1601	31	,	,	PUNCT
cblr-13858	1601	32	chairman	chairman	NOUN
cblr-13858	1601	33	of	of	ADP
cblr-13858	1601	34	the	the	DET
cblr-13858	1601	35	sec	sec	PROPN
cblr-13858	1601	36	,	,	PUNCT
cblr-13858	1601	37	criticizing	criticize	VERB
cblr-13858	1601	38	the	the	DET
cblr-13858	1601	39	sec	sec	PROPN
cblr-13858	1601	40	's	's	PART
cblr-13858	1601	41	treatment	treatment	NOUN
cblr-13858	1601	42	of	of	ADP
cblr-13858	1601	43	private	private	ADJ
cblr-13858	1601	44	capital	capital	NOUN
cblr-13858	1601	45	formation	formation	NOUN
cblr-13858	1601	46	and	and	CCONJ
cblr-13858	1601	47	posing	pose	VERB
cblr-13858	1601	48	numerous	numerous	ADJ
cblr-13858	1601	49	questions	question	NOUN
cblr-13858	1601	50	about	about	ADP
cblr-13858	1601	51	regulation	regulation	NOUN
cblr-13858	1601	52	of	of	ADP
cblr-13858	1601	53	the	the	DET
cblr-13858	1601	54	capital	capital	NOUN
cblr-13858	1601	55	formation	formation	NOUN
cblr-13858	1601	56	process.42	process.42	NOUN
cblr-13858	1601	57	o	o	PROPN
cblr-13858	1601	58	congressman	congressman	PROPN
cblr-13858	1601	59	issa	issa	PROPN
cblr-13858	1601	60	's	's	PART
cblr-13858	1601	61	letter	letter	NOUN
cblr-13858	1601	62	specifically	specifically	ADV
cblr-13858	1601	63	asked	ask	VERB
cblr-13858	1601	64	whether	whether	SCONJ
cblr-13858	1601	65	the	the	DET
cblr-13858	1601	66	sec	sec	PROPN
cblr-13858	1601	67	had	have	AUX
cblr-13858	1601	68	considered	consider	VERB
cblr-13858	1601	69	creating	create	VERB
cblr-13858	1601	70	exemptions	exemption	NOUN
cblr-13858	1601	71	for	for	ADP
cblr-13858	1601	72	crowdfunding.4	crowdfunding.4	PROPN
cblr-13858	1601	73	21	21	NUM
cblr-13858	1601	74	chairman	chairman	NOUN
cblr-13858	1601	75	schapiro	schapiro	PROPN
cblr-13858	1601	76	responded	respond	VERB
cblr-13858	1601	77	to	to	ADP
cblr-13858	1601	78	congressman	congressman	NOUN
cblr-13858	1601	79	issa	issa	PROPN
cblr-13858	1601	80	on	on	ADP
cblr-13858	1601	81	april	april	PROPN
cblr-13858	1601	82	6	6	NUM
cblr-13858	1601	83	,	,	PUNCT
cblr-13858	1601	84	2011.422	2011.422	NUM
cblr-13858	1601	85	in	in	ADP
cblr-13858	1601	86	her	her	PRON
cblr-13858	1601	87	letter	letter	NOUN
cblr-13858	1601	88	,	,	PUNCT
cblr-13858	1601	89	she	she	PRON
cblr-13858	1601	90	informed	inform	VERB
cblr-13858	1601	91	him	he	PRON
cblr-13858	1601	92	that	that	SCONJ
cblr-13858	1601	93	she	she	PRON
cblr-13858	1601	94	was	be	AUX
cblr-13858	1601	95	4	4	NUM
cblr-13858	1601	96	"	"	PUNCT
cblr-13858	1601	97	fact	fact	NOUN
cblr-13858	1601	98	sheet	sheet	NOUN
cblr-13858	1601	99	and	and	CCONJ
cblr-13858	1601	100	overview	overview	NOUN
cblr-13858	1601	101	for	for	ADP
cblr-13858	1601	102	aja	aja	PROPN
cblr-13858	1601	103	,	,	PUNCT
cblr-13858	1601	104	supra	supra	PROPN
cblr-13858	1601	105	note	note	NOUN
cblr-13858	1601	106	7	7	NUM
cblr-13858	1601	107	.	.	NOUN
cblr-13858	1601	108	419	419	NUM
cblr-13858	1602	1	i	i	PRON
cblr-13858	1602	2	d.	d.	VERB
cblr-13858	1602	3	at	at	ADP
cblr-13858	1602	4	2	2	NUM
cblr-13858	1602	5	.	.	SYM
cblr-13858	1602	6	420	420	NUM
cblr-13858	1602	7	letter	letter	NOUN
cblr-13858	1602	8	from	from	ADP
cblr-13858	1602	9	darrell	darrell	PROPN
cblr-13858	1602	10	e.	e.	PROPN
cblr-13858	1602	11	issa	issa	PROPN
cblr-13858	1602	12	,	,	PUNCT
cblr-13858	1602	13	chairman	chairman	NOUN
cblr-13858	1602	14	,	,	PUNCT
cblr-13858	1602	15	house	house	NOUN
cblr-13858	1602	16	comm	comm	NOUN
cblr-13858	1602	17	.	.	PUNCT
cblr-13858	1603	1	on	on	ADP
cblr-13858	1603	2	oversight	oversight	NOUN
cblr-13858	1603	3	&	&	CCONJ
cblr-13858	1603	4	gov't	gov't	PROPN
cblr-13858	1603	5	reform	reform	NOUN
cblr-13858	1603	6	,	,	PUNCT
cblr-13858	1603	7	to	to	ADP
cblr-13858	1603	8	mary	mary	PROPN
cblr-13858	1603	9	l.	l.	PROPN
cblr-13858	1603	10	schapiro	schapiro	PROPN
cblr-13858	1603	11	,	,	PUNCT
cblr-13858	1603	12	chairman	chairman	NOUN
cblr-13858	1603	13	,	,	PUNCT
cblr-13858	1603	14	sec	sec	PROPN
cblr-13858	1603	15	(	(	PUNCT
cblr-13858	1603	16	mar	mar	PROPN
cblr-13858	1603	17	.	.	PROPN
cblr-13858	1603	18	22	22	NUM
cblr-13858	1603	19	,	,	PUNCT
cblr-13858	1603	20	2011	2011	NUM
cblr-13858	1603	21	)	)	PUNCT
cblr-13858	1603	22	,	,	PUNCT
cblr-13858	1603	23	available	available	ADJ
cblr-13858	1603	24	at	at	ADP
cblr-13858	1603	25	www.knowledgemosaic.com/resourcecenter/issa.041211.pdf	www.knowledgemosaic.com/resourcecenter/issa.041211.pdf	PROPN
cblr-13858	1603	26	[	[	X
cblr-13858	1603	27	hereinafter	hereinafter	NOUN
cblr-13858	1603	28	issa	issa	ADJ
cblr-13858	1603	29	letter	letter	PROPN
cblr-13858	1603	30	]	]	PUNCT
cblr-13858	1603	31	.	.	PUNCT
cblr-13858	1604	1	421	421	NUM
cblr-13858	1605	1	i	i	PRON
cblr-13858	1605	2	d.	d.	PROPN
cblr-13858	1605	3	at	at	ADP
cblr-13858	1605	4	11	11	NUM
cblr-13858	1605	5	.	.	PUNCT
cblr-13858	1606	1	422	422	NUM
cblr-13858	1606	2	letter	letter	NOUN
cblr-13858	1606	3	from	from	ADP
cblr-13858	1606	4	mary	mary	PROPN
cblr-13858	1606	5	l.	l.	PROPN
cblr-13858	1606	6	schapiro	schapiro	PROPN
cblr-13858	1606	7	,	,	PUNCT
cblr-13858	1606	8	chairman	chairman	NOUN
cblr-13858	1606	9	,	,	PUNCT
cblr-13858	1606	10	sec	sec	PROPN
cblr-13858	1606	11	,	,	PUNCT
cblr-13858	1606	12	to	to	ADP
cblr-13858	1606	13	darrell	darrell	PROPN
cblr-13858	1606	14	e.	e.	PROPN
cblr-13858	1606	15	issa	issa	PROPN
cblr-13858	1606	16	,	,	PUNCT
cblr-13858	1606	17	chairman	chairman	NOUN
cblr-13858	1606	18	,	,	PUNCT
cblr-13858	1606	19	house	house	NOUN
cblr-13858	1606	20	comm	comm	NOUN
cblr-13858	1606	21	.	.	PUNCT
cblr-13858	1607	1	on	on	ADP
cblr-13858	1607	2	oversight	oversight	NOUN
cblr-13858	1607	3	&	&	CCONJ
cblr-13858	1607	4	gov't	gov't	PROPN
cblr-13858	1607	5	reform	reform	NOUN
cblr-13858	1607	6	(	(	PUNCT
cblr-13858	1607	7	apr	apr	NOUN
cblr-13858	1607	8	.	.	PROPN
cblr-13858	1607	9	6	6	NUM
cblr-13858	1607	10	,	,	PUNCT
cblr-13858	1607	11	2011	2011	NUM
cblr-13858	1607	12	)	)	PUNCT
cblr-13858	1607	13	,	,	PUNCT
cblr-13858	1607	14	available	available	ADJ
cblr-13858	1607	15	at	at	ADP
cblr-13858	1607	16	www.sec.gov/news/press/schapiro-issa-letter-040611.pdf	www.sec.gov/news/press/schapiro-issa-letter-040611.pdf	PROPN
cblr-13858	1607	17	[	[	X
cblr-13858	1607	18	hereinafter	hereinafter	NOUN
cblr-13858	1607	19	schapiro	schapiro	NOUN
cblr-13858	1607	20	letter	letter	NOUN
cblr-13858	1607	21	]	]	PUNCT
cblr-13858	1607	22	.	.	PUNCT
cblr-13858	1608	1	85no	85no	ADJ
cblr-13858	1608	2	.	.	PUNCT
cblr-13858	1609	1	1	1	NUM
cblr-13858	1609	2	:	:	SYM
cblr-13858	1609	3	1	1	NUM
cblr-13858	1609	4	]	]	PUNCT
cblr-13858	1609	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1609	6	and	and	CCONJ
cblr-13858	1609	7	securities	security	NOUN
cblr-13858	1609	8	la	la	DET
cblr-13858	1609	9	ws	ws	PROPN
cblr-13858	1609	10	creating	create	VERB
cblr-13858	1609	11	a	a	DET
cblr-13858	1609	12	new	new	ADJ
cblr-13858	1609	13	advisory	advisory	ADJ
cblr-13858	1609	14	committee	committee	NOUN
cblr-13858	1609	15	on	on	ADP
cblr-13858	1609	16	small	small	ADJ
cblr-13858	1609	17	and	and	CCONJ
cblr-13858	1609	18	emerging	emerge	VERB
cblr-13858	1609	19	companies	company	NOUN
cblr-13858	1609	20	and	and	CCONJ
cblr-13858	1609	21	that	that	SCONJ
cblr-13858	1609	22	the	the	DET
cblr-13858	1609	23	sec	sec	PROPN
cblr-13858	1609	24	staff	staff	NOUN
cblr-13858	1609	25	was	be	AUX
cblr-13858	1609	26	"	"	PUNCT
cblr-13858	1609	27	taking	take	VERB
cblr-13858	1609	28	a	a	DET
cblr-13858	1609	29	fresh	fresh	ADJ
cblr-13858	1609	30	look	look	NOUN
cblr-13858	1609	31	at	at	ADP
cblr-13858	1609	32	our	our	PRON
cblr-13858	1609	33	rules	rule	NOUN
cblr-13858	1609	34	to	to	PART
cblr-13858	1609	35	develop	develop	VERB
cblr-13858	1609	36	ideas	idea	NOUN
cblr-13858	1609	37	for	for	ADP
cblr-13858	1609	38	the	the	DET
cblr-13858	1609	39	commission	commission	NOUN
cblr-13858	1609	40	about	about	ADP
cblr-13858	1609	41	ways	way	NOUN
cblr-13858	1609	42	to	to	PART
cblr-13858	1609	43	reduce	reduce	VERB
cblr-13858	1609	44	the	the	DET
cblr-13858	1609	45	regulatory	regulatory	ADJ
cblr-13858	1609	46	burdens	burden	NOUN
cblr-13858	1609	47	on	on	ADP
cblr-13858	1609	48	small	small	ADJ
cblr-13858	1609	49	business	business	NOUN
cblr-13858	1609	50	capital	capital	NOUN
cblr-13858	1609	51	formation	formation	NOUN
cblr-13858	1609	52	.	.	PUNCT
cblr-13858	1610	1	"42	"42	NOUN
cblr-13858	1610	2	3	3	NUM
cblr-13858	1610	3	she	she	PRON
cblr-13858	1610	4	noted	note	VERB
cblr-13858	1610	5	the	the	DET
cblr-13858	1610	6	sustainable	sustainable	ADJ
cblr-13858	1610	7	economies	economy	NOUN
cblr-13858	1610	8	law	law	NOUN
cblr-13858	1610	9	center	center	NOUN
cblr-13858	1610	10	proposal	proposal	NOUN
cblr-13858	1610	11	for	for	ADP
cblr-13858	1610	12	a	a	DET
cblr-13858	1610	13	crowdfunding	crowdfunding	NOUN
cblr-13858	1610	14	exemption,4	exemption,4	VERB
cblr-13858	1610	15	24	24	NUM
cblr-13858	1610	16	said	say	VERB
cblr-13858	1610	17	that	that	SCONJ
cblr-13858	1610	18	the	the	DET
cblr-13858	1610	19	sec	sec	PROPN
cblr-13858	1610	20	staff	staff	NOUN
cblr-13858	1610	21	had	have	AUX
cblr-13858	1610	22	been	be	AUX
cblr-13858	1610	23	discussing	discuss	VERB
cblr-13858	1610	24	crowdfunding,4	crowdfunding,4	ADJ
cblr-13858	1610	25	25	25	NUM
cblr-13858	1610	26	and	and	CCONJ
cblr-13858	1610	27	promised	promise	VERB
cblr-13858	1610	28	a	a	DET
cblr-13858	1610	29	staff	staff	NOUN
cblr-13858	1610	30	review	review	NOUN
cblr-13858	1610	31	of	of	ADP
cblr-13858	1610	32	"	"	PUNCT
cblr-13858	1610	33	the	the	DET
cblr-13858	1610	34	impact	impact	NOUN
cblr-13858	1610	35	of	of	ADP
cblr-13858	1610	36	our	our	PRON
cblr-13858	1610	37	regulations	regulation	NOUN
cblr-13858	1610	38	on	on	ADP
cblr-13858	1610	39	capital	capital	NOUN
cblr-13858	1610	40	formation	formation	NOUN
cblr-13858	1610	41	for	for	ADP
cblr-13858	1610	42	small	small	ADJ
cblr-13858	1610	43	businesses	business	NOUN
cblr-13858	1610	44	,	,	PUNCT
cblr-13858	1610	45	"	"	PUNCT
cblr-13858	1610	46	specifically	specifically	ADV
cblr-13858	1610	47	including	include	VERB
cblr-13858	1610	48	"	"	PUNCT
cblr-13858	1610	49	the	the	DET
cblr-13858	1610	50	regulatory	regulatory	ADJ
cblr-13858	1610	51	questions	question	NOUN
cblr-13858	1610	52	posed	pose	VERB
cblr-13858	1610	53	by	by	ADP
cblr-13858	1610	54	new	new	ADJ
cblr-13858	1610	55	capital	capital	NOUN
cblr-13858	1610	56	raising	raise	VERB
cblr-13858	1610	57	strategies	strategy	NOUN
cblr-13858	1610	58	.	.	PUNCT
cblr-13858	1611	1	"	"	PUNCT
cblr-13858	1611	2	426	426	NUM
cblr-13858	1611	3	this	this	DET
cblr-13858	1611	4	promise	promise	NOUN
cblr-13858	1611	5	,	,	PUNCT
cblr-13858	1611	6	made	make	VERB
cblr-13858	1611	7	prior	prior	ADV
cblr-13858	1611	8	to	to	ADP
cblr-13858	1611	9	president	president	PROPN
cblr-13858	1611	10	obama	obama	PROPN
cblr-13858	1611	11	's	's	PART
cblr-13858	1611	12	endorsement	endorsement	NOUN
cblr-13858	1611	13	,	,	PUNCT
cblr-13858	1611	14	should	should	AUX
cblr-13858	1611	15	not	not	PART
cblr-13858	1611	16	have	have	AUX
cblr-13858	1611	17	caused	cause	VERB
cblr-13858	1611	18	undue	undue	ADJ
cblr-13858	1611	19	optimism	optimism	NOUN
cblr-13858	1611	20	among	among	ADP
cblr-13858	1611	21	crowdfunding	crowdfunding	NOUN
cblr-13858	1611	22	's	's	PART
cblr-13858	1611	23	supporters	supporter	NOUN
cblr-13858	1611	24	.	.	PUNCT
cblr-13858	1612	1	the	the	DET
cblr-13858	1612	2	sec	sec	PROPN
cblr-13858	1612	3	often	often	ADV
cblr-13858	1612	4	pays	pay	VERB
cblr-13858	1612	5	lip	lip	NOUN
cblr-13858	1612	6	service	service	NOUN
cblr-13858	1612	7	to	to	ADP
cblr-13858	1612	8	small	small	ADJ
cblr-13858	1612	9	business	business	NOUN
cblr-13858	1612	10	needs	need	NOUN
cblr-13858	1612	11	,	,	PUNCT
cblr-13858	1612	12	but	but	CCONJ
cblr-13858	1612	13	it	it	PRON
cblr-13858	1612	14	seldom	seldom	ADV
cblr-13858	1612	15	acts	act	VERB
cblr-13858	1612	16	on	on	ADP
cblr-13858	1612	17	those	those	DET
cblr-13858	1612	18	concerns.427	concerns.427	VERB
cblr-13858	1612	19	the	the	DET
cblr-13858	1612	20	annual	annual	ADJ
cblr-13858	1612	21	forum	forum	NOUN
cblr-13858	1612	22	it	it	PRON
cblr-13858	1612	23	holds	hold	VERB
cblr-13858	1612	24	on	on	ADP
cblr-13858	1612	25	small	small	ADJ
cblr-13858	1612	26	business	business	NOUN
cblr-13858	1612	27	issues	issue	NOUN
cblr-13858	1612	28	has	have	AUX
cblr-13858	1612	29	produced	produce	VERB
cblr-13858	1612	30	"	"	PUNCT
cblr-13858	1612	31	repeated	repeat	VERB
cblr-13858	1612	32	and	and	CCONJ
cblr-13858	1612	33	strongly	strongly	ADV
cblr-13858	1612	34	-	-	PUNCT
cblr-13858	1612	35	worded	word	VERB
cblr-13858	1612	36	recommendations	recommendation	NOUN
cblr-13858	1612	37	from	from	ADP
cblr-13858	1612	38	small	small	ADJ
cblr-13858	1612	39	business	business	NOUN
cblr-13858	1612	40	advocates	advocate	NOUN
cblr-13858	1612	41	to	to	PART
cblr-13858	1612	42	lessen	lessen	VERB
cblr-13858	1612	43	the	the	DET
cblr-13858	1612	44	sec	sec	PROPN
cblr-13858	1612	45	's	's	PART
cblr-13858	1612	46	regulatory	regulatory	ADJ
cblr-13858	1612	47	burdens	burden	NOUN
cblr-13858	1612	48	on	on	ADP
cblr-13858	1612	49	raising	raise	VERB
cblr-13858	1612	50	capital	capital	NOUN
cblr-13858	1612	51	.	.	PUNCT
cblr-13858	1612	52	.	.	PUNCT
cblr-13858	1612	53	.	.	PUNCT
cblr-13858	1613	1	[	[	X
cblr-13858	1613	2	,	,	PUNCT
cblr-13858	1613	3	but	but	CCONJ
cblr-13858	1613	4	]	]	PUNCT
cblr-13858	1613	5	with	with	ADP
cblr-13858	1613	6	rare	rare	ADJ
cblr-13858	1613	7	exception	exception	NOUN
cblr-13858	1613	8	,	,	PUNCT
cblr-13858	1613	9	the	the	DET
cblr-13858	1613	10	sec	sec	PROPN
cblr-13858	1613	11	has	have	AUX
cblr-13858	1613	12	turned	turn	VERB
cblr-13858	1613	13	a	a	DET
cblr-13858	1613	14	deaf	deaf	ADJ
cblr-13858	1613	15	ear	ear	NOUN
cblr-13858	1613	16	to	to	ADP
cblr-13858	1613	17	the	the	DET
cblr-13858	1613	18	forum	forum	NOUN
cblr-13858	1613	19	's	's	PART
cblr-13858	1613	20	recommendations	recommendation	NOUN
cblr-13858	1613	21	and	and	CCONJ
cblr-13858	1613	22	concerns	concern	NOUN
cblr-13858	1613	23	.	.	PUNCT
cblr-13858	1614	1	"4	"4	PROPN
cblr-13858	1614	2	28	28	NUM
cblr-13858	1614	3	however	however	ADV
cblr-13858	1614	4	,	,	PUNCT
cblr-13858	1614	5	president	president	PROPN
cblr-13858	1614	6	obama	obama	PROPN
cblr-13858	1614	7	's	's	PART
cblr-13858	1614	8	subsequent	subsequent	ADJ
cblr-13858	1614	9	endorsement	endorsement	NOUN
cblr-13858	1614	10	may	may	AUX
cblr-13858	1614	11	make	make	VERB
cblr-13858	1614	12	a	a	DET
cblr-13858	1614	13	crowdfunding	crowdfunding	NOUN
cblr-13858	1614	14	exemption	exemption	NOUN
cblr-13858	1614	15	more	more	ADV
cblr-13858	1614	16	likely	likely	ADJ
cblr-13858	1614	17	.	.	PUNCT
cblr-13858	1615	1	at	at	ADP
cblr-13858	1615	2	the	the	DET
cblr-13858	1615	3	house	house	PROPN
cblr-13858	1615	4	subcommittee	subcommittee	PROPN
cblr-13858	1615	5	hearing	hearing	NOUN
cblr-13858	1615	6	,	,	PUNCT
cblr-13858	1615	7	meredith	meredith	PROPN
cblr-13858	1615	8	cross	cross	PROPN
cblr-13858	1615	9	,	,	PUNCT
cblr-13858	1615	10	director	director	NOUN
cblr-13858	1615	11	of	of	ADP
cblr-13858	1615	12	the	the	DET
cblr-13858	1615	13	sec	sec	PROPN
cblr-13858	1615	14	's	's	PART
cblr-13858	1615	15	division	division	NOUN
cblr-13858	1615	16	of	of	ADP
cblr-13858	1615	17	corporation	corporation	NOUN
cblr-13858	1615	18	finance	finance	NOUN
cblr-13858	1615	19	,	,	PUNCT
cblr-13858	1615	20	indicatedthat	indicatedthat	PRON
cblr-13858	1615	21	she	she	PRON
cblr-13858	1615	22	expects	expect	VERB
cblr-13858	1615	23	the	the	DET
cblr-13858	1615	24	sec	sec	PROPN
cblr-13858	1615	25	to	to	PART
cblr-13858	1615	26	consider	consider	VERB
cblr-13858	1615	27	crowdfunding	crowdfunde	VERB
cblr-13858	1615	28	in	in	ADP
cblr-13858	1615	29	the	the	DET
cblr-13858	1615	30	near	near	ADJ
cblr-13858	1615	31	future.42	future.42	NOUN
cblr-13858	1615	32	9	9	NUM
cblr-13858	1615	33	422	422	NUM
cblr-13858	1615	34	i	i	PRON
cblr-13858	1615	35	d.	d.	PROPN
cblr-13858	1615	36	at	at	ADP
cblr-13858	1615	37	1	1	NUM
cblr-13858	1615	38	.	.	NUM
cblr-13858	1615	39	424	424	NUM
cblr-13858	1616	1	i	i	PRON
cblr-13858	1616	2	d.	d.	PROPN
cblr-13858	1616	3	at	at	ADP
cblr-13858	1616	4	22	22	NUM
cblr-13858	1616	5	n.77	n.77	NOUN
cblr-13858	1616	6	.	.	NOUN
cblr-13858	1616	7	425	425	NUM
cblr-13858	1616	8	i	i	PRON
cblr-13858	1616	9	d.	d.	NOUN
cblr-13858	1616	10	at	at	ADP
cblr-13858	1616	11	22	22	NUM
cblr-13858	1616	12	-	-	SYM
cblr-13858	1616	13	23	23	NUM
cblr-13858	1616	14	.	.	PUNCT
cblr-13858	1617	1	426	426	NUM
cblr-13858	1618	1	i	i	PRON
cblr-13858	1618	2	d.	d.	PROPN
cblr-13858	1618	3	at	at	ADP
cblr-13858	1618	4	24	24	NUM
cblr-13858	1618	5	.	.	PUNCT
cblr-13858	1618	6	427	427	NUM
cblr-13858	1618	7	see	see	VERB
cblr-13858	1618	8	cohn	cohn	PROPN
cblr-13858	1618	9	&	&	CCONJ
cblr-13858	1618	10	yadley	yadley	PROPN
cblr-13858	1618	11	,	,	PUNCT
cblr-13858	1618	12	supra	supra	PROPN
cblr-13858	1618	13	note	note	PROPN
cblr-13858	1618	14	11	11	NUM
cblr-13858	1618	15	,	,	PUNCT
cblr-13858	1618	16	at	at	ADP
cblr-13858	1618	17	64	64	NUM
cblr-13858	1618	18	(	(	PUNCT
cblr-13858	1618	19	"	"	PUNCT
cblr-13858	1618	20	despite	despite	SCONJ
cblr-13858	1618	21	the	the	DET
cblr-13858	1618	22	sec	sec	PROPN
cblr-13858	1618	23	profession	profession	NOUN
cblr-13858	1618	24	of	of	ADP
cblr-13858	1618	25	interest	interest	NOUN
cblr-13858	1618	26	in	in	ADP
cblr-13858	1618	27	small	small	ADJ
cblr-13858	1618	28	business	business	NOUN
cblr-13858	1618	29	,	,	PUNCT
cblr-13858	1618	30	there	there	PRON
cblr-13858	1618	31	has	have	AUX
cblr-13858	1618	32	been	be	AUX
cblr-13858	1618	33	a	a	DET
cblr-13858	1618	34	great	great	ADJ
cblr-13858	1618	35	deal	deal	NOUN
cblr-13858	1618	36	more	more	ADJ
cblr-13858	1618	37	smoke	smoke	NOUN
cblr-13858	1618	38	than	than	ADP
cblr-13858	1618	39	fire	fire	NOUN
cblr-13858	1618	40	.	.	PUNCT
cblr-13858	1618	41	"	"	PUNCT
cblr-13858	1618	42	)	)	PUNCT
cblr-13858	1618	43	.	.	PUNCT
cblr-13858	1619	1	428	428	NUM
cblr-13858	1620	1	i	i	PRON
cblr-13858	1620	2	d.	d.	PROPN
cblr-13858	1620	3	at	at	ADP
cblr-13858	1620	4	3	3	NUM
cblr-13858	1620	5	-	-	SYM
cblr-13858	1620	6	4	4	NUM
cblr-13858	1620	7	.	.	NOUN
cblr-13858	1620	8	429	429	NUM
cblr-13858	1620	9	yin	yin	NOUN
cblr-13858	1620	10	wilczek	wilczek	NOUN
cblr-13858	1620	11	,	,	PUNCT
cblr-13858	1620	12	sec	sec	PROPN
cblr-13858	1620	13	under	under	ADP
cblr-13858	1620	14	pressure	pressure	NOUN
cblr-13858	1620	15	to	to	PART
cblr-13858	1620	16	allow	allow	VERB
cblr-13858	1620	17	crowdfunding	crowdfunding	NOUN
cblr-13858	1620	18	;	;	PUNCT
cblr-13858	1620	19	agency	agency	NOUN
cblr-13858	1620	20	to	to	PART
cblr-13858	1620	21	consider	consider	VERB
cblr-13858	1620	22	issue	issue	NOUN
cblr-13858	1620	23	soon	soon	ADV
cblr-13858	1620	24	,	,	PUNCT
cblr-13858	1620	25	official	official	NOUN
cblr-13858	1620	26	says	say	VERB
cblr-13858	1620	27	,	,	PUNCT
cblr-13858	1620	28	43	43	NUM
cblr-13858	1620	29	sec	sec	PROPN
cblr-13858	1620	30	.	.	PUNCT
cblr-13858	1621	1	reg	reg	PROPN
cblr-13858	1621	2	.	.	PROPN
cblr-13858	1621	3	&	&	CCONJ
cblr-13858	1621	4	l.	l.	PROPN
cblr-13858	1621	5	rep	rep	PROPN
cblr-13858	1621	6	.	.	PROPN
cblr-13858	1621	7	(	(	PUNCT
cblr-13858	1621	8	bna	bna	PROPN
cblr-13858	1621	9	)	)	PUNCT
cblr-13858	1621	10	1872	1872	NUM
cblr-13858	1621	11	(	(	PUNCT
cblr-13858	1621	12	sept	sept	PROPN
cblr-13858	1621	13	.	.	PROPN
cblr-13858	1621	14	19	19	NUM
cblr-13858	1621	15	,	,	PUNCT
cblr-13858	1621	16	2011	2011	NUM
cblr-13858	1621	17	)	)	PUNCT
cblr-13858	1621	18	.	.	PUNCT
cblr-13858	1622	1	col	col	PROPN
cblr-13858	1622	2	umbia	umbia	PROPN
cblr-13858	1622	3	b	b	PROPN
cblr-13858	1622	4	usiness	usiness	PROPN
cblr-13858	1622	5	la	la	PROPN
cblr-13858	1622	6	w	w	PROPN
cblr-13858	1622	7	re	re	PROPN
cblr-13858	1622	8	vie	vie	PROPN
cblr-13858	1622	9	w	w	PROPN
cblr-13858	1623	1	[	[	X
cblr-13858	1623	2	vol	vol	NOUN
cblr-13858	1623	3	.	.	PUNCT
cblr-13858	1623	4	201286	201286	NUM
cblr-13858	1623	5	cr0	cr0	ADJ
cblr-13858	1623	6	wdfunding	wdfunding	NOUN
cblr-13858	1623	7	and	and	CCONJ
cblr-13858	1623	8	securities	security	NOUN
cblr-13858	1623	9	laws	law	NOUN
cblr-13858	1623	10	f.	f.	PROPN
cblr-13858	1624	1	the	the	DET
cblr-13858	1624	2	sec	sec	PROPN
cblr-13858	1624	3	's	's	PART
cblr-13858	1624	4	authority	authority	NOUN
cblr-13858	1624	5	to	to	PART
cblr-13858	1624	6	exempt	exempt	VERB
cblr-13858	1624	7	crowdfunding	crowdfunde	VERB
cblr-13858	1624	8	the	the	DET
cblr-13858	1624	9	sec	sec	PROPN
cblr-13858	1624	10	clearly	clearly	ADV
cblr-13858	1624	11	has	have	VERB
cblr-13858	1624	12	the	the	DET
cblr-13858	1624	13	authority	authority	NOUN
cblr-13858	1624	14	to	to	PART
cblr-13858	1624	15	exempt	exempt	VERB
cblr-13858	1624	16	crowdfunding	crowdfunding	NOUN
cblr-13858	1624	17	from	from	ADP
cblr-13858	1624	18	the	the	DET
cblr-13858	1624	19	registration	registration	NOUN
cblr-13858	1624	20	requirements	requirement	NOUN
cblr-13858	1624	21	of	of	ADP
cblr-13858	1624	22	the	the	DET
cblr-13858	1624	23	securities	security	NOUN
cblr-13858	1624	24	act	act	NOUN
cblr-13858	1624	25	and	and	CCONJ
cblr-13858	1624	26	to	to	PART
cblr-13858	1624	27	exempt	exempt	VERB
cblr-13858	1624	28	crowdfunding	crowdfunding	NOUN
cblr-13858	1624	29	web	web	NOUN
cblr-13858	1624	30	sites	site	NOUN
cblr-13858	1624	31	from	from	ADP
cblr-13858	1624	32	registration	registration	NOUN
cblr-13858	1624	33	as	as	ADP
cblr-13858	1624	34	brokers	broker	NOUN
cblr-13858	1624	35	or	or	CCONJ
cblr-13858	1624	36	investment	investment	NOUN
cblr-13858	1624	37	advisers	adviser	NOUN
cblr-13858	1624	38	.	.	PUNCT
cblr-13858	1625	1	two	two	NUM
cblr-13858	1625	2	separate	separate	ADJ
cblr-13858	1625	3	provisions	provision	NOUN
cblr-13858	1625	4	of	of	ADP
cblr-13858	1625	5	the	the	DET
cblr-13858	1625	6	securities	security	NOUN
cblr-13858	1625	7	act	act	NOUN
cblr-13858	1625	8	are	be	AUX
cblr-13858	1625	9	possible	possible	ADJ
cblr-13858	1625	10	sources	source	NOUN
cblr-13858	1625	11	of	of	ADP
cblr-13858	1625	12	authority	authority	NOUN
cblr-13858	1625	13	for	for	ADP
cblr-13858	1625	14	the	the	DET
cblr-13858	1625	15	sec	sec	PROPN
cblr-13858	1625	16	to	to	PART
cblr-13858	1625	17	exempt	exempt	VERB
cblr-13858	1625	18	crowdfunding	crowdfunding	NOUN
cblr-13858	1625	19	from	from	ADP
cblr-13858	1625	20	the	the	DET
cblr-13858	1625	21	act	act	NOUN
cblr-13858	1625	22	's	's	PART
cblr-13858	1625	23	registration	registration	NOUN
cblr-13858	1625	24	requirements	requirement	NOUN
cblr-13858	1625	25	.	.	PUNCT
cblr-13858	1626	1	section	section	NOUN
cblr-13858	1626	2	3(b	3(b	NUM
cblr-13858	1626	3	)	)	PUNCT
cblr-13858	1626	4	of	of	ADP
cblr-13858	1626	5	the	the	DET
cblr-13858	1626	6	securities	security	NOUN
cblr-13858	1626	7	act	act	NOUN
cblr-13858	1626	8	3	3	NUM
cblr-13858	1626	9	o	o	NOUN
cblr-13858	1626	10	authorizes	authorize	VERB
cblr-13858	1626	11	the	the	DET
cblr-13858	1626	12	sec	sec	PROPN
cblr-13858	1626	13	to	to	PART
cblr-13858	1626	14	exempt	exempt	VERB
cblr-13858	1626	15	offerings	offering	NOUN
cblr-13858	1626	16	of	of	ADP
cblr-13858	1626	17	less	less	ADJ
cblr-13858	1626	18	than	than	ADP
cblr-13858	1626	19	a	a	DET
cblr-13858	1626	20	specified	specify	VERB
cblr-13858	1626	21	dollar	dollar	NOUN
cblr-13858	1626	22	amount	amount	NOUN
cblr-13858	1626	23	,	,	PUNCT
cblr-13858	1626	24	currently	currently	ADV
cblr-13858	1626	25	$	$	SYM
cblr-13858	1626	26	5	5	NUM
cblr-13858	1626	27	million.431	million.431	NOUN
cblr-13858	1626	28	to	to	PART
cblr-13858	1626	29	authorize	authorize	VERB
cblr-13858	1626	30	a	a	DET
cblr-13858	1626	31	section	section	NOUN
cblr-13858	1626	32	3(b	3(b	NUM
cblr-13858	1626	33	)	)	PUNCT
cblr-13858	1626	34	exemption	exemption	NOUN
cblr-13858	1626	35	,	,	PUNCT
cblr-13858	1626	36	the	the	DET
cblr-13858	1626	37	sec	sec	PROPN
cblr-13858	1626	38	must	must	AUX
cblr-13858	1626	39	find	find	VERB
cblr-13858	1626	40	that	that	SCONJ
cblr-13858	1626	41	"	"	PUNCT
cblr-13858	1626	42	enforcement	enforcement	NOUN
cblr-13858	1626	43	.	.	PUNCT
cblr-13858	1626	44	.	.	PUNCT
cblr-13858	1626	45	.	.	PUNCT
cblr-13858	1627	1	with	with	ADP
cblr-13858	1627	2	respect	respect	NOUN
cblr-13858	1627	3	to	to	ADP
cblr-13858	1627	4	such	such	ADJ
cblr-13858	1627	5	securities	security	NOUN
cblr-13858	1627	6	is	be	AUX
cblr-13858	1627	7	not	not	PART
cblr-13858	1627	8	necessary	necessary	ADJ
cblr-13858	1627	9	in	in	ADP
cblr-13858	1627	10	the	the	DET
cblr-13858	1627	11	public	public	ADJ
cblr-13858	1627	12	interest	interest	NOUN
cblr-13858	1627	13	and	and	CCONJ
cblr-13858	1627	14	for	for	ADP
cblr-13858	1627	15	the	the	DET
cblr-13858	1627	16	protection	protection	NOUN
cblr-13858	1627	17	of	of	ADP
cblr-13858	1627	18	investors	investor	NOUN
cblr-13858	1627	19	by	by	ADP
cblr-13858	1627	20	reason	reason	NOUN
cblr-13858	1627	21	of	of	ADP
cblr-13858	1627	22	the	the	DET
cblr-13858	1627	23	small	small	ADJ
cblr-13858	1627	24	amount	amount	NOUN
cblr-13858	1627	25	involved	involve	VERB
cblr-13858	1627	26	or	or	CCONJ
cblr-13858	1627	27	the	the	DET
cblr-13858	1627	28	limited	limited	ADJ
cblr-13858	1627	29	character	character	NOUN
cblr-13858	1627	30	of	of	ADP
cblr-13858	1627	31	the	the	DET
cblr-13858	1627	32	public	public	ADJ
cblr-13858	1627	33	offering	offering	NOUN
cblr-13858	1627	34	.	.	PUNCT
cblr-13858	1628	1	"432	"432	PROPN
cblr-13858	1629	1	the	the	DET
cblr-13858	1629	2	sec	sec	PROPN
cblr-13858	1629	3	has	have	AUX
cblr-13858	1629	4	used	use	VERB
cblr-13858	1629	5	its	its	PRON
cblr-13858	1629	6	section	section	NOUN
cblr-13858	1629	7	3(b	3(b	NUM
cblr-13858	1629	8	)	)	PUNCT
cblr-13858	1629	9	authority	authority	NOUN
cblr-13858	1629	10	rather	rather	ADV
cblr-13858	1629	11	extensively	extensively	ADV
cblr-13858	1629	12	:	:	PUNCT
cblr-13858	1629	13	rules	rule	VERB
cblr-13858	1629	14	504	504	NUM
cblr-13858	1629	15	and	and	CCONJ
cblr-13858	1629	16	505	505	NUM
cblr-13858	1629	17	of	of	ADP
cblr-13858	1629	18	regulation	regulation	NOUN
cblr-13858	1629	19	d	d	NOUN
cblr-13858	1629	20	are	be	AUX
cblr-13858	1629	21	both	both	PRON
cblr-13858	1629	22	section	section	NOUN
cblr-13858	1629	23	3(b	3(b	NUM
cblr-13858	1629	24	)	)	PUNCT
cblr-13858	1629	25	exemptions,43	exemptions,43	VERB
cblr-13858	1629	26	3	3	NUM
cblr-13858	1629	27	as	as	SCONJ
cblr-13858	1629	28	is	be	AUX
cblr-13858	1629	29	regulation	regulation	NOUN
cblr-13858	1629	30	a.434	a.434	NOUN
cblr-13858	1629	31	the	the	DET
cblr-13858	1629	32	sec	sec	PROPN
cblr-13858	1629	33	's	's	PART
cblr-13858	1629	34	authority	authority	NOUN
cblr-13858	1629	35	under	under	ADP
cblr-13858	1629	36	section	section	NOUN
cblr-13858	1629	37	28	28	NUM
cblr-13858	1629	38	of	of	ADP
cblr-13858	1629	39	the	the	DET
cblr-13858	1629	40	securities	security	NOUN
cblr-13858	1629	41	act	act	NOUN
cblr-13858	1629	42	is	be	AUX
cblr-13858	1629	43	even	even	ADV
cblr-13858	1629	44	more	more	ADV
cblr-13858	1629	45	extensive	extensive	ADJ
cblr-13858	1629	46	,	,	PUNCT
cblr-13858	1629	47	authorizing	authorize	VERB
cblr-13858	1629	48	the	the	DET
cblr-13858	1629	49	sec	sec	PROPN
cblr-13858	1629	50	to	to	PART
cblr-13858	1629	51	exempt	exempt	VERB
cblr-13858	1629	52	"	"	PUNCT
cblr-13858	1629	53	any	any	DET
cblr-13858	1629	54	person	person	NOUN
cblr-13858	1629	55	,	,	PUNCT
cblr-13858	1629	56	security	security	NOUN
cblr-13858	1629	57	,	,	PUNCT
cblr-13858	1629	58	or	or	CCONJ
cblr-13858	1629	59	transaction	transaction	NOUN
cblr-13858	1629	60	,	,	PUNCT
cblr-13858	1629	61	or	or	CCONJ
cblr-13858	1629	62	any	any	DET
cblr-13858	1629	63	class	class	NOUN
cblr-13858	1629	64	or	or	CCONJ
cblr-13858	1629	65	classes	class	NOUN
cblr-13858	1629	66	of	of	ADP
cblr-13858	1629	67	persons	person	NOUN
cblr-13858	1629	68	,	,	PUNCT
cblr-13858	1629	69	securities	security	NOUN
cblr-13858	1629	70	,	,	PUNCT
cblr-13858	1629	71	or	or	CCONJ
cblr-13858	1629	72	transactions	transaction	NOUN
cblr-13858	1629	73	,	,	PUNCT
cblr-13858	1629	74	"	"	PUNCT
cblr-13858	1629	75	from	from	ADP
cblr-13858	1629	76	any	any	DET
cblr-13858	1629	77	provision	provision	NOUN
cblr-13858	1629	78	of	of	ADP
cblr-13858	1629	79	the	the	DET
cblr-13858	1629	80	act	act	NOUN
cblr-13858	1629	81	or	or	CCONJ
cblr-13858	1629	82	associated	associate	VERB
cblr-13858	1629	83	rules.43	rules.43	NOUN
cblr-13858	1629	84	5	5	NUM
cblr-13858	1629	85	unlike	unlike	ADP
cblr-13858	1629	86	section	section	NOUN
cblr-13858	1629	87	3(b	3(b	NUM
cblr-13858	1629	88	)	)	PUNCT
cblr-13858	1629	89	,	,	PUNCT
cblr-13858	1629	90	section	section	NOUN
cblr-13858	1629	91	28	28	NUM
cblr-13858	1629	92	40	40	NUM
cblr-13858	1629	93	securities	security	NOUN
cblr-13858	1629	94	act	act	NOUN
cblr-13858	1629	95	of	of	ADP
cblr-13858	1629	96	1933	1933	NUM
cblr-13858	1629	97	§	§	PROPN
cblr-13858	1629	98	3(b	3(b	NUM
cblr-13858	1629	99	)	)	PUNCT
cblr-13858	1629	100	,	,	PUNCT
cblr-13858	1629	101	15	15	NUM
cblr-13858	1629	102	u.s.c	u.s.c	ADJ
cblr-13858	1629	103	.	.	PUNCT
cblr-13858	1630	1	§	§	PROPN
cblr-13858	1630	2	77c(b	77c(b	PROPN
cblr-13858	1630	3	)	)	PUNCT
cblr-13858	1630	4	(	(	PUNCT
cblr-13858	1630	5	2010	2010	NUM
cblr-13858	1630	6	)	)	PUNCT
cblr-13858	1630	7	.	.	PUNCT
cblr-13858	1631	1	43	43	NUM
cblr-13858	1632	1	the	the	DET
cblr-13858	1632	2	sustainable	sustainable	ADJ
cblr-13858	1632	3	economies	economy	NOUN
cblr-13858	1632	4	law	law	NOUN
cblr-13858	1632	5	center	center	NOUN
cblr-13858	1632	6	petition	petition	NOUN
cblr-13858	1632	7	points	point	VERB
cblr-13858	1632	8	to	to	ADP
cblr-13858	1632	9	section	section	NOUN
cblr-13858	1632	10	3(b	3(b	NUM
cblr-13858	1632	11	)	)	PUNCT
cblr-13858	1632	12	as	as	ADP
cblr-13858	1632	13	a	a	DET
cblr-13858	1632	14	potential	potential	ADJ
cblr-13858	1632	15	source	source	NOUN
cblr-13858	1632	16	of	of	ADP
cblr-13858	1632	17	authority	authority	NOUN
cblr-13858	1632	18	.	.	PUNCT
cblr-13858	1633	1	see	see	VERB
cblr-13858	1633	2	request	request	NOUN
cblr-13858	1633	3	for	for	ADP
cblr-13858	1633	4	rulemaking	rulemake	VERB
cblr-13858	1633	5	to	to	PART
cblr-13858	1633	6	exempt	exempt	VERB
cblr-13858	1633	7	securities	security	NOUN
cblr-13858	1633	8	offerings	offering	NOUN
cblr-13858	1633	9	up	up	ADP
cblr-13858	1633	10	to	to	PART
cblr-13858	1633	11	$	$	SYM
cblr-13858	1633	12	100,000	100,000	NUM
cblr-13858	1633	13	with	with	ADP
cblr-13858	1633	14	$	$	SYM
cblr-13858	1633	15	100	100	NUM
cblr-13858	1633	16	maximum	maximum	NOUN
cblr-13858	1633	17	per	per	ADP
cblr-13858	1633	18	investor	investor	NOUN
cblr-13858	1633	19	from	from	ADP
cblr-13858	1633	20	registration	registration	NOUN
cblr-13858	1633	21	,	,	PUNCT
cblr-13858	1633	22	supra	supra	ADJ
cblr-13858	1633	23	note	note	NOUN
cblr-13858	1633	24	400	400	NUM
cblr-13858	1633	25	,	,	PUNCT
cblr-13858	1633	26	at	at	ADP
cblr-13858	1633	27	8	8	NUM
cblr-13858	1633	28	-	-	SYM
cblr-13858	1633	29	9	9	NUM
cblr-13858	1633	30	.	.	PUNCT
cblr-13858	1634	1	the	the	DET
cblr-13858	1634	2	center	center	NOUN
cblr-13858	1634	3	also	also	ADV
cblr-13858	1634	4	argued	argue	VERB
cblr-13858	1634	5	that	that	SCONJ
cblr-13858	1634	6	its	its	PRON
cblr-13858	1634	7	proposed	propose	VERB
cblr-13858	1634	8	exemption	exemption	NOUN
cblr-13858	1634	9	could	could	AUX
cblr-13858	1634	10	be	be	AUX
cblr-13858	1634	11	a	a	DET
cblr-13858	1634	12	safe	safe	ADJ
cblr-13858	1634	13	harbor	harbor	NOUN
cblr-13858	1634	14	for	for	ADP
cblr-13858	1634	15	section	section	NOUN
cblr-13858	1634	16	4(2	4(2	NUM
cblr-13858	1634	17	)	)	PUNCT
cblr-13858	1634	18	of	of	ADP
cblr-13858	1634	19	the	the	DET
cblr-13858	1634	20	securities	security	NOUN
cblr-13858	1634	21	act	act	PROPN
cblr-13858	1634	22	.	.	PUNCT
cblr-13858	1635	1	see	see	VERB
cblr-13858	1635	2	i	i	PRON
cblr-13858	1635	3	d.	d.	PROPN
cblr-13858	1635	4	at	at	ADP
cblr-13858	1635	5	9	9	NUM
cblr-13858	1635	6	.	.	PUNCT
cblr-13858	1636	1	but	but	CCONJ
cblr-13858	1636	2	cf	cf	NOUN
cblr-13858	1636	3	.	.	PUNCT
cblr-13858	1637	1	supra	supra	PROPN
cblr-13858	1637	2	part	part	NOUN
cblr-13858	1637	3	iii.b.2.a	iii.b.2.a	PROPN
cblr-13858	1637	4	(	(	PUNCT
cblr-13858	1637	5	suggesting	suggest	VERB
cblr-13858	1637	6	that	that	SCONJ
cblr-13858	1637	7	it	it	PRON
cblr-13858	1637	8	is	be	AUX
cblr-13858	1637	9	doubtful	doubtful	ADJ
cblr-13858	1637	10	that	that	SCONJ
cblr-13858	1637	11	the	the	DET
cblr-13858	1637	12	center	center	NOUN
cblr-13858	1637	13	's	's	PART
cblr-13858	1637	14	proposed	propose	VERB
cblr-13858	1637	15	exemption	exemption	NOUN
cblr-13858	1637	16	could	could	AUX
cblr-13858	1637	17	be	be	AUX
cblr-13858	1637	18	a	a	DET
cblr-13858	1637	19	safe	safe	ADJ
cblr-13858	1637	20	harbor	harbor	NOUN
cblr-13858	1637	21	for	for	ADP
cblr-13858	1637	22	section	section	NOUN
cblr-13858	1637	23	4(2	4(2	NUM
cblr-13858	1637	24	)	)	PUNCT
cblr-13858	1637	25	given	give	VERB
cblr-13858	1637	26	how	how	SCONJ
cblr-13858	1637	27	the	the	DET
cblr-13858	1637	28	section	section	NOUN
cblr-13858	1637	29	has	have	AUX
cblr-13858	1637	30	been	be	AUX
cblr-13858	1637	31	interpreted	interpret	VERB
cblr-13858	1637	32	)	)	PUNCT
cblr-13858	1637	33	.	.	PUNCT
cblr-13858	1637	34	4	4	NUM
cblr-13858	1637	35	request	request	NOUN
cblr-13858	1637	36	for	for	ADP
cblr-13858	1637	37	rulemaking	rulemake	VERB
cblr-13858	1637	38	to	to	PART
cblr-13858	1637	39	exempt	exempt	VERB
cblr-13858	1637	40	securities	security	NOUN
cblr-13858	1637	41	offerings	offering	NOUN
cblr-13858	1637	42	up	up	ADP
cblr-13858	1637	43	to	to	PART
cblr-13858	1637	44	$	$	SYM
cblr-13858	1637	45	100,000	100,000	NUM
cblr-13858	1637	46	with	with	ADP
cblr-13858	1637	47	$	$	SYM
cblr-13858	1637	48	100	100	NUM
cblr-13858	1637	49	maximum	maximum	NOUN
cblr-13858	1637	50	per	per	ADP
cblr-13858	1637	51	investor	investor	NOUN
cblr-13858	1637	52	from	from	ADP
cblr-13858	1637	53	registration	registration	NOUN
cblr-13858	1637	54	,	,	PUNCT
cblr-13858	1637	55	supra	supra	ADJ
cblr-13858	1637	56	note	note	NOUN
cblr-13858	1637	57	400	400	NUM
cblr-13858	1637	58	,	,	PUNCT
cblr-13858	1637	59	at	at	ADP
cblr-13858	1637	60	8	8	NUM
cblr-13858	1637	61	-	-	SYM
cblr-13858	1637	62	9	9	NUM
cblr-13858	1637	63	.	.	NOUN
cblr-13858	1637	64	41	41	NUM
cblr-13858	1637	65	see	see	VERB
cblr-13858	1637	66	securities	security	NOUN
cblr-13858	1637	67	act	act	PROPN
cblr-13858	1637	68	rules	rule	VERB
cblr-13858	1637	69	504(a	504(a	NUM
cblr-13858	1637	70	)	)	PUNCT
cblr-13858	1637	71	and	and	CCONJ
cblr-13858	1637	72	505(a	505(a	PROPN
cblr-13858	1637	73	)	)	PUNCT
cblr-13858	1637	74	,	,	PUNCT
cblr-13858	1637	75	17	17	NUM
cblr-13858	1637	76	c.f.r	c.f.r	NOUN
cblr-13858	1637	77	.	.	PUNCT
cblr-13858	1638	1	§	§	PROPN
cblr-13858	1638	2	§	§	PROPN
cblr-13858	1638	3	230.504(a	230.504(a	PROPN
cblr-13858	1638	4	)	)	PUNCT
cblr-13858	1638	5	,	,	PUNCT
cblr-13858	1638	6	230.505(a	230.505(a	NUM
cblr-13858	1638	7	)	)	PUNCT
cblr-13858	1638	8	(	(	PUNCT
cblr-13858	1638	9	2012	2012	NUM
cblr-13858	1638	10	)	)	PUNCT
cblr-13858	1638	11	.	.	PUNCT
cblr-13858	1639	1	4	4	NUM
cblr-13858	1639	2	see	see	VERB
cblr-13858	1639	3	17	17	NUM
cblr-13858	1639	4	c.f.r	c.f.r	NOUN
cblr-13858	1639	5	.	.	PUNCT
cblr-13858	1640	1	§	§	PROPN
cblr-13858	1640	2	230.251	230.251	NUM
cblr-13858	1640	3	.	.	PUNCT
cblr-13858	1640	4	"	"	PUNCT
cblr-13858	1641	1	15	15	NUM
cblr-13858	1641	2	u.s.c	u.s.c	NOUN
cblr-13858	1641	3	.	.	PUNCT
cblr-13858	1642	1	§	§	PROPN
cblr-13858	1642	2	77z-3	77z-3	PROPN
cblr-13858	1642	3	.	.	PUNCT
cblr-13858	1643	1	no	no	INTJ
cblr-13858	1643	2	.	.	NOUN
cblr-13858	1644	1	1:1	1:1	NUM
cblr-13858	1644	2	]	]	PUNCT
cblr-13858	1644	3	87	87	NUM
cblr-13858	1644	4	does	do	AUX
cblr-13858	1644	5	not	not	PART
cblr-13858	1644	6	limit	limit	VERB
cblr-13858	1644	7	the	the	DET
cblr-13858	1644	8	dollar	dollar	NOUN
cblr-13858	1644	9	amount	amount	NOUN
cblr-13858	1644	10	of	of	ADP
cblr-13858	1644	11	exempted	exempt	VERB
cblr-13858	1644	12	offerings	offering	NOUN
cblr-13858	1644	13	.	.	PUNCT
cblr-13858	1645	1	to	to	PART
cblr-13858	1645	2	use	use	VERB
cblr-13858	1645	3	its	its	PRON
cblr-13858	1645	4	section	section	NOUN
cblr-13858	1645	5	28	28	NUM
cblr-13858	1645	6	exemption	exemption	NOUN
cblr-13858	1645	7	authority	authority	NOUN
cblr-13858	1645	8	,	,	PUNCT
cblr-13858	1645	9	the	the	DET
cblr-13858	1645	10	sec	sec	PROPN
cblr-13858	1645	11	must	must	AUX
cblr-13858	1645	12	find	find	VERB
cblr-13858	1645	13	that	that	SCONJ
cblr-13858	1645	14	the	the	DET
cblr-13858	1645	15	"	"	PUNCT
cblr-13858	1645	16	exemption	exemption	NOUN
cblr-13858	1645	17	is	be	AUX
cblr-13858	1645	18	necessary	necessary	ADJ
cblr-13858	1645	19	or	or	CCONJ
cblr-13858	1645	20	appropriate	appropriate	ADJ
cblr-13858	1645	21	in	in	ADP
cblr-13858	1645	22	the	the	DET
cblr-13858	1645	23	public	public	ADJ
cblr-13858	1645	24	interest	interest	NOUN
cblr-13858	1645	25	and	and	CCONJ
cblr-13858	1645	26	is	be	AUX
cblr-13858	1645	27	consistent	consistent	ADJ
cblr-13858	1645	28	with	with	ADP
cblr-13858	1645	29	the	the	DET
cblr-13858	1645	30	protection	protection	NOUN
cblr-13858	1645	31	of	of	ADP
cblr-13858	1645	32	investors	investor	NOUN
cblr-13858	1645	33	.	.	PUNCT
cblr-13858	1646	1	"436	"436	PROPN
cblr-13858	1647	1	the	the	DET
cblr-13858	1647	2	sec	sec	PROPN
cblr-13858	1647	3	has	have	VERB
cblr-13858	1647	4	similar	similar	ADJ
cblr-13858	1647	5	authority	authority	NOUN
cblr-13858	1647	6	to	to	PART
cblr-13858	1647	7	exempt	exempt	VERB
cblr-13858	1647	8	those	those	PRON
cblr-13858	1647	9	who	who	PRON
cblr-13858	1647	10	would	would	AUX
cblr-13858	1647	11	otherwise	otherwise	ADV
cblr-13858	1647	12	be	be	AUX
cblr-13858	1647	13	regulated	regulate	VERB
cblr-13858	1647	14	as	as	ADP
cblr-13858	1647	15	brokers	broker	NOUN
cblr-13858	1647	16	under	under	ADP
cblr-13858	1647	17	the	the	DET
cblr-13858	1647	18	exchange	exchange	NOUN
cblr-13858	1647	19	act	act	NOUN
cblr-13858	1647	20	or	or	CCONJ
cblr-13858	1647	21	regulated	regulate	VERB
cblr-13858	1647	22	as	as	ADP
cblr-13858	1647	23	investment	investment	NOUN
cblr-13858	1647	24	advisers	adviser	NOUN
cblr-13858	1647	25	under	under	ADP
cblr-13858	1647	26	the	the	DET
cblr-13858	1647	27	investment	investment	NOUN
cblr-13858	1647	28	advisers	adviser	NOUN
cblr-13858	1647	29	act	act	VERB
cblr-13858	1647	30	.	.	PUNCT
cblr-13858	1648	1	section	section	NOUN
cblr-13858	1648	2	36(a	36(a	NUM
cblr-13858	1648	3	)	)	PUNCT
cblr-13858	1648	4	of	of	ADP
cblr-13858	1648	5	the	the	DET
cblr-13858	1648	6	exchange	exchange	NOUN
cblr-13858	1648	7	act	act	NOUN
cblr-13858	1648	8	authorizes	authorize	VERB
cblr-13858	1648	9	the	the	DET
cblr-13858	1648	10	sec	sec	PROPN
cblr-13858	1648	11	to	to	PART
cblr-13858	1648	12	"	"	PUNCT
cblr-13858	1648	13	conditionally	conditionally	ADV
cblr-13858	1648	14	or	or	CCONJ
cblr-13858	1648	15	unconditionally	unconditionally	ADV
cblr-13858	1648	16	exempt	exempt	VERB
cblr-13858	1648	17	any	any	DET
cblr-13858	1648	18	person	person	NOUN
cblr-13858	1648	19	,	,	PUNCT
cblr-13858	1648	20	security	security	NOUN
cblr-13858	1648	21	,	,	PUNCT
cblr-13858	1648	22	or	or	CCONJ
cblr-13858	1648	23	transaction	transaction	NOUN
cblr-13858	1648	24	,	,	PUNCT
cblr-13858	1648	25	or	or	CCONJ
cblr-13858	1648	26	any	any	DET
cblr-13858	1648	27	class	class	NOUN
cblr-13858	1648	28	or	or	CCONJ
cblr-13858	1648	29	classes	class	NOUN
cblr-13858	1648	30	of	of	ADP
cblr-13858	1648	31	persons	person	NOUN
cblr-13858	1648	32	,	,	PUNCT
cblr-13858	1648	33	securities	security	NOUN
cblr-13858	1648	34	,	,	PUNCT
cblr-13858	1648	35	or	or	CCONJ
cblr-13858	1648	36	transactions	transaction	NOUN
cblr-13858	1648	37	"	"	PUNCT
cblr-13858	1648	38	from	from	ADP
cblr-13858	1648	39	any	any	DET
cblr-13858	1648	40	provisions	provision	NOUN
cblr-13858	1648	41	of	of	ADP
cblr-13858	1648	42	the	the	DET
cblr-13858	1648	43	act.437	act.437	NOUN
cblr-13858	1648	44	to	to	PART
cblr-13858	1648	45	adopt	adopt	VERB
cblr-13858	1648	46	such	such	DET
cblr-13858	1648	47	an	an	DET
cblr-13858	1648	48	exemption	exemption	NOUN
cblr-13858	1648	49	,	,	PUNCT
cblr-13858	1648	50	the	the	DET
cblr-13858	1648	51	sec	sec	PROPN
cblr-13858	1648	52	would	would	AUX
cblr-13858	1648	53	have	have	VERB
cblr-13858	1648	54	to	to	PART
cblr-13858	1648	55	find	find	VERB
cblr-13858	1648	56	that	that	SCONJ
cblr-13858	1648	57	it	it	PRON
cblr-13858	1648	58	"	"	PUNCT
cblr-13858	1648	59	is	be	AUX
cblr-13858	1648	60	necessary	necessary	ADJ
cblr-13858	1648	61	or	or	CCONJ
cblr-13858	1648	62	appropriate	appropriate	ADJ
cblr-13858	1648	63	in	in	ADP
cblr-13858	1648	64	the	the	DET
cblr-13858	1648	65	public	public	ADJ
cblr-13858	1648	66	interest	interest	NOUN
cblr-13858	1648	67	,	,	PUNCT
cblr-13858	1648	68	and	and	CCONJ
cblr-13858	1648	69	.	.	PUNCT
cblr-13858	1648	70	.	.	PUNCT
cblr-13858	1648	71	.	.	PUNCT
cblr-13858	1649	1	consistent	consistent	ADJ
cblr-13858	1649	2	with	with	ADP
cblr-13858	1649	3	the	the	DET
cblr-13858	1649	4	protection	protection	NOUN
cblr-13858	1649	5	of	of	ADP
cblr-13858	1649	6	investors	investor	NOUN
cblr-13858	1649	7	.	.	PUNCT
cblr-13858	1650	1	"438	"438	PROPN
cblr-13858	1650	2	section	section	PROPN
cblr-13858	1650	3	202(a)(11	202(a)(11	NUM
cblr-13858	1650	4	)	)	PUNCT
cblr-13858	1650	5	of	of	ADP
cblr-13858	1650	6	the	the	DET
cblr-13858	1650	7	investment	investment	NOUN
cblr-13858	1650	8	advisers	adviser	NOUN
cblr-13858	1650	9	act	act	VERB
cblr-13858	1650	10	,	,	PUNCT
cblr-13858	1650	11	which	which	PRON
cblr-13858	1650	12	defines	define	VERB
cblr-13858	1650	13	"	"	PUNCT
cblr-13858	1650	14	investment	investment	NOUN
cblr-13858	1650	15	adviser	adviser	NOUN
cblr-13858	1650	16	,	,	PUNCT
cblr-13858	1650	17	"	"	PUNCT
cblr-13858	1650	18	authorizes	authorize	VERB
cblr-13858	1650	19	the	the	DET
cblr-13858	1650	20	sec	sec	PROPN
cblr-13858	1650	21	to	to	PART
cblr-13858	1650	22	exclude	exclude	VERB
cblr-13858	1650	23	"	"	PUNCT
cblr-13858	1650	24	other	other	ADJ
cblr-13858	1650	25	persons	person	NOUN
cblr-13858	1650	26	not	not	PART
cblr-13858	1650	27	within	within	ADP
cblr-13858	1650	28	the	the	DET
cblr-13858	1650	29	intent	intent	NOUN
cblr-13858	1650	30	of	of	ADP
cblr-13858	1650	31	[	[	PUNCT
cblr-13858	1650	32	the	the	DET
cblr-13858	1650	33	definition]."43	definition]."43	PROPN
cblr-13858	1650	34	more	more	ADV
cblr-13858	1650	35	broadly	broadly	ADV
cblr-13858	1650	36	,	,	PUNCT
cblr-13858	1650	37	section	section	NOUN
cblr-13858	1650	38	206a	206a	NOUN
cblr-13858	1650	39	of	of	ADP
cblr-13858	1650	40	the	the	DET
cblr-13858	1650	41	advisers	adviser	NOUN
cblr-13858	1650	42	act	act	VERB
cblr-13858	1650	43	authorizes	authorize	VERB
cblr-13858	1650	44	the	the	DET
cblr-13858	1650	45	sec	sec	PROPN
cblr-13858	1650	46	to	to	PART
cblr-13858	1650	47	"	"	PUNCT
cblr-13858	1650	48	conditionally	conditionally	ADV
cblr-13858	1650	49	or	or	CCONJ
cblr-13858	1650	50	unconditionally	unconditionally	ADV
cblr-13858	1650	51	exempt	exempt	VERB
cblr-13858	1650	52	any	any	DET
cblr-13858	1650	53	person	person	NOUN
cblr-13858	1650	54	or	or	CCONJ
cblr-13858	1650	55	transaction	transaction	NOUN
cblr-13858	1650	56	,	,	PUNCT
cblr-13858	1650	57	or	or	CCONJ
cblr-13858	1650	58	any	any	DET
cblr-13858	1650	59	class	class	NOUN
cblr-13858	1650	60	or	or	CCONJ
cblr-13858	1650	61	classes	class	NOUN
cblr-13858	1650	62	of	of	ADP
cblr-13858	1650	63	persons	person	NOUN
cblr-13858	1650	64	,	,	PUNCT
cblr-13858	1650	65	or	or	CCONJ
cblr-13858	1650	66	transactions	transaction	NOUN
cblr-13858	1650	67	,	,	PUNCT
cblr-13858	1650	68	"	"	PUNCT
cblr-13858	1650	69	provided	provide	VERB
cblr-13858	1650	70	that	that	SCONJ
cblr-13858	1650	71	the	the	DET
cblr-13858	1650	72	exemption	exemption	NOUN
cblr-13858	1650	73	"	"	PUNCT
cblr-13858	1650	74	is	be	AUX
cblr-13858	1650	75	necessary	necessary	ADJ
cblr-13858	1650	76	or	or	CCONJ
cblr-13858	1650	77	appropriate	appropriate	ADJ
cblr-13858	1650	78	in	in	ADP
cblr-13858	1650	79	the	the	DET
cblr-13858	1650	80	public	public	ADJ
cblr-13858	1650	81	interest	interest	NOUN
cblr-13858	1650	82	and	and	CCONJ
cblr-13858	1650	83	consistent	consistent	ADJ
cblr-13858	1650	84	with	with	ADP
cblr-13858	1650	85	the	the	DET
cblr-13858	1650	86	protection	protection	NOUN
cblr-13858	1650	87	of	of	ADP
cblr-13858	1650	88	investors	investor	NOUN
cblr-13858	1650	89	and	and	CCONJ
cblr-13858	1650	90	the	the	DET
cblr-13858	1650	91	purposes	purpose	NOUN
cblr-13858	1650	92	fairly	fairly	ADV
cblr-13858	1650	93	intended	intend	VERB
cblr-13858	1650	94	by	by	ADP
cblr-13858	1650	95	the	the	DET
cblr-13858	1650	96	policy	policy	NOUN
cblr-13858	1650	97	and	and	CCONJ
cblr-13858	1650	98	provisions	provision	NOUN
cblr-13858	1650	99	of	of	ADP
cblr-13858	1650	100	this	this	PRON
cblr-13858	1650	101	[	[	X
cblr-13858	1650	102	act]."440	act]."440	PROPN
cblr-13858	1650	103	g.	g.	NOUN
cblr-13858	1650	104	the	the	DET
cblr-13858	1650	105	congressional	congressional	ADJ
cblr-13858	1650	106	response	response	NOUN
cblr-13858	1650	107	congress	congress	PROPN
cblr-13858	1650	108	may	may	AUX
cblr-13858	1650	109	not	not	PART
cblr-13858	1650	110	give	give	VERB
cblr-13858	1650	111	the	the	DET
cblr-13858	1650	112	sec	sec	PROPN
cblr-13858	1650	113	an	an	DET
cblr-13858	1650	114	opportunity	opportunity	NOUN
cblr-13858	1650	115	to	to	PART
cblr-13858	1650	116	develop	develop	VERB
cblr-13858	1650	117	a	a	DET
cblr-13858	1650	118	crowdfunding	crowdfunding	NOUN
cblr-13858	1650	119	exemption	exemption	NOUN
cblr-13858	1650	120	.	.	PUNCT
cblr-13858	1651	1	the	the	DET
cblr-13858	1651	2	house	house	NOUN
cblr-13858	1651	3	has	have	AUX
cblr-13858	1651	4	passed	pass	VERB
cblr-13858	1651	5	a	a	DET
cblr-13858	1651	6	crowdfunding	crowdfunding	NOUN
cblr-13858	1651	7	bill	bill	NOUN
cblr-13858	1651	8	,	,	PUNCT
cblr-13858	1651	9	and	and	CCONJ
cblr-13858	1651	10	a	a	DET
cblr-13858	1651	11	similar	similar	ADJ
cblr-13858	1651	12	bill	bill	NOUN
cblr-13858	1651	13	has	have	AUX
cblr-13858	1651	14	been	be	AUX
cblr-13858	1651	15	introduced	introduce	VERB
cblr-13858	1651	16	in	in	ADP
cblr-13858	1651	17	436	436	NUM
cblr-13858	1651	18	i	i	PROPN
cblr-13858	1651	19	d.	d.	PROPN
cblr-13858	1651	20	"	"	PUNCT
cblr-13858	1651	21	securities	securities	PROPN
cblr-13858	1651	22	exchange	exchange	PROPN
cblr-13858	1651	23	act	act	NOUN
cblr-13858	1651	24	of	of	ADP
cblr-13858	1651	25	1934	1934	NUM
cblr-13858	1651	26	§	§	PROPN
cblr-13858	1651	27	36(a	36(a	NUM
cblr-13858	1651	28	)	)	PUNCT
cblr-13858	1651	29	,	,	PUNCT
cblr-13858	1651	30	15	15	NUM
cblr-13858	1651	31	u.s.c	u.s.c	ADJ
cblr-13858	1651	32	.	.	PUNCT
cblr-13858	1652	1	§	§	PROPN
cblr-13858	1652	2	78mm(a	78mm(a	PROPN
cblr-13858	1652	3	)	)	PUNCT
cblr-13858	1652	4	(	(	PUNCT
cblr-13858	1652	5	2010	2010	NUM
cblr-13858	1652	6	)	)	PUNCT
cblr-13858	1652	7	.	.	PUNCT
cblr-13858	1653	1	the	the	DET
cblr-13858	1653	2	exception	exception	NOUN
cblr-13858	1653	3	to	to	ADP
cblr-13858	1653	4	the	the	DET
cblr-13858	1653	5	sec	sec	PROPN
cblr-13858	1653	6	's	's	PART
cblr-13858	1653	7	authority	authority	NOUN
cblr-13858	1653	8	involving	involve	VERB
cblr-13858	1653	9	government	government	NOUN
cblr-13858	1653	10	securities	security	NOUN
cblr-13858	1653	11	and	and	CCONJ
cblr-13858	1653	12	government	government	NOUN
cblr-13858	1653	13	securities	security	NOUN
cblr-13858	1653	14	brokers	broker	NOUN
cblr-13858	1653	15	is	be	AUX
cblr-13858	1653	16	provided	provide	VERB
cblr-13858	1653	17	at	at	ADP
cblr-13858	1653	18	15	15	NUM
cblr-13858	1653	19	u.s.c	u.s.c	ADJ
cblr-13858	1653	20	.	.	PUNCT
cblr-13858	1654	1	§	§	PROPN
cblr-13858	1654	2	78mm(b	78mm(b	PROPN
cblr-13858	1654	3	)	)	PUNCT
cblr-13858	1654	4	.	.	PUNCT
cblr-13858	1655	1	this	this	DET
cblr-13858	1655	2	exception	exception	NOUN
cblr-13858	1655	3	would	would	AUX
cblr-13858	1655	4	not	not	PART
cblr-13858	1655	5	apply	apply	VERB
cblr-13858	1655	6	to	to	ADP
cblr-13858	1655	7	crowdfunding	crowdfunde	VERB
cblr-13858	1655	8	.	.	PUNCT
cblr-13858	1656	1	4s	4s	NUM
cblr-13858	1656	2	15	15	NUM
cblr-13858	1656	3	u.s.c	u.s.c	NOUN
cblr-13858	1656	4	.	.	PUNCT
cblr-13858	1657	1	§	§	PROPN
cblr-13858	1657	2	78mm(a	78mm(a	PROPN
cblr-13858	1657	3	)	)	PUNCT
cblr-13858	1657	4	.	.	PUNCT
cblr-13858	1658	1	4	4	NUM
cblr-13858	1658	2	investment	investment	NOUN
cblr-13858	1658	3	advisers	adviser	NOUN
cblr-13858	1658	4	act	act	VERB
cblr-13858	1658	5	of	of	ADP
cblr-13858	1658	6	1940	1940	NUM
cblr-13858	1658	7	§	§	PROPN
cblr-13858	1658	8	202(a)(11)(g	202(a)(11)(g	NUM
cblr-13858	1658	9	)	)	PUNCT
cblr-13858	1658	10	,	,	PUNCT
cblr-13858	1658	11	15	15	NUM
cblr-13858	1658	12	u.s.c	u.s.c	ADJ
cblr-13858	1658	13	.	.	PUNCT
cblr-13858	1659	1	§	§	PROPN
cblr-13858	1659	2	80b2(a)(11)(g	80b2(a)(11)(g	NOUN
cblr-13858	1659	3	)	)	PUNCT
cblr-13858	1659	4	(	(	PUNCT
cblr-13858	1659	5	2006	2006	NUM
cblr-13858	1659	6	)	)	PUNCT
cblr-13858	1659	7	.	.	PUNCT
cblr-13858	1660	1	40	40	NUM
cblr-13858	1660	2	15	15	NUM
cblr-13858	1660	3	u.s.c	u.s.c	NOUN
cblr-13858	1660	4	.	.	PUNCT
cblr-13858	1661	1	§	§	PROPN
cblr-13858	1661	2	80b-6a	80b-6a	NUM
cblr-13858	1661	3	.	.	PUNCT
cblr-13858	1662	1	[	[	X
cblr-13858	1662	2	vol	vol	NOUN
cblr-13858	1662	3	.	.	PUNCT
cblr-13858	1662	4	201288	201288	NUM
cblr-13858	1662	5	columiab	columiab	NOUN
cblr-13858	1662	6	business	business	NOUN
cblr-13858	1662	7	la	la	PROPN
cblr-13858	1662	8	w	w	PROPN
cblr-13858	1662	9	revfie	revfie	PROPN
cblr-13858	1662	10	w	w	ADP
cblr-13858	1662	11	the	the	DET
cblr-13858	1662	12	senate	senate	PROPN
cblr-13858	1662	13	.	.	PUNCT
cblr-13858	1663	1	thus	thus	ADV
cblr-13858	1663	2	,	,	PUNCT
cblr-13858	1663	3	it	it	PRON
cblr-13858	1663	4	is	be	AUX
cblr-13858	1663	5	possible	possible	ADJ
cblr-13858	1663	6	that	that	SCONJ
cblr-13858	1663	7	there	there	PRON
cblr-13858	1663	8	will	will	AUX
cblr-13858	1663	9	soon	soon	ADV
cblr-13858	1663	10	be	be	AUX
cblr-13858	1663	11	a	a	DET
cblr-13858	1663	12	statutory	statutory	ADJ
cblr-13858	1663	13	crowdfunding	crowdfunding	NOUN
cblr-13858	1663	14	exemption	exemption	NOUN
cblr-13858	1663	15	.	.	PUNCT
cblr-13858	1664	1	1	1	X
cblr-13858	1664	2	.	.	X
cblr-13858	1664	3	house	house	NOUN
cblr-13858	1664	4	bill	bill	PROPN
cblr-13858	1664	5	2930	2930	NUM
cblr-13858	1664	6	on	on	ADP
cblr-13858	1664	7	november	november	PROPN
cblr-13858	1664	8	3	3	NUM
cblr-13858	1664	9	,	,	PUNCT
cblr-13858	1664	10	2011	2011	NUM
cblr-13858	1664	11	,	,	PUNCT
cblr-13858	1664	12	the	the	DET
cblr-13858	1664	13	house	house	NOUN
cblr-13858	1664	14	passed	pass	VERB
cblr-13858	1664	15	house	house	NOUN
cblr-13858	1664	16	bill	bill	PROPN
cblr-13858	1664	17	2930	2930	NUM
cblr-13858	1664	18	,	,	PUNCT
cblr-13858	1664	19	the	the	DET
cblr-13858	1664	20	entrepreneur	entrepreneur	NOUN
cblr-13858	1664	21	access	access	NOUN
cblr-13858	1664	22	to	to	ADP
cblr-13858	1664	23	capital	capital	PROPN
cblr-13858	1664	24	act	act	PROPN
cblr-13858	1664	25	,	,	PUNCT
cblr-13858	1664	26	introduced	introduce	VERB
cblr-13858	1664	27	by	by	ADP
cblr-13858	1664	28	congressman	congressman	PROPN
cblr-13858	1664	29	patrick	patrick	PROPN
cblr-13858	1664	30	mchenry.4	mchenry.4	ADP
cblr-13858	1664	31	41	41	NUM
cblr-13858	1664	32	the	the	DET
cblr-13858	1664	33	bipartisan	bipartisan	ADJ
cblr-13858	1664	34	407	407	NUM
cblr-13858	1664	35	-	-	SYM
cblr-13858	1664	36	17	17	NUM
cblr-13858	1664	37	vote	vote	NOUN
cblr-13858	1664	38	came	come	VERB
cblr-13858	1664	39	shortly	shortly	ADV
cblr-13858	1664	40	after	after	SCONJ
cblr-13858	1664	41	the	the	DET
cblr-13858	1664	42	obama	obama	PROPN
cblr-13858	1664	43	administration	administration	NOUN
cblr-13858	1664	44	released	release	VERB
cblr-13858	1664	45	a	a	DET
cblr-13858	1664	46	statement	statement	NOUN
cblr-13858	1664	47	supporting	support	VERB
cblr-13858	1664	48	the	the	DET
cblr-13858	1664	49	bill.442	bill.442	NOUN
cblr-13858	1664	50	the	the	DET
cblr-13858	1664	51	bill	bill	NOUN
cblr-13858	1664	52	,	,	PUNCT
cblr-13858	1664	53	which	which	PRON
cblr-13858	1664	54	would	would	AUX
cblr-13858	1664	55	add	add	VERB
cblr-13858	1664	56	to	to	ADP
cblr-13858	1664	57	the	the	DET
cblr-13858	1664	58	securities	security	NOUN
cblr-13858	1664	59	act	act	VERB
cblr-13858	1664	60	a	a	DET
cblr-13858	1664	61	new	new	ADJ
cblr-13858	1664	62	statutory	statutory	ADJ
cblr-13858	1664	63	exemption	exemption	NOUN
cblr-13858	1664	64	for	for	ADP
cblr-13858	1664	65	crowdfunding	crowdfunding	NOUN
cblr-13858	1664	66	,	,	PUNCT
cblr-13858	1664	67	incorporates	incorporate	VERB
cblr-13858	1664	68	many	many	ADJ
cblr-13858	1664	69	of	of	ADP
cblr-13858	1664	70	the	the	DET
cblr-13858	1664	71	policy	policy	NOUN
cblr-13858	1664	72	recommendations	recommendation	NOUN
cblr-13858	1664	73	made	make	VERB
cblr-13858	1664	74	in	in	ADP
cblr-13858	1664	75	this	this	DET
cblr-13858	1664	76	article.443	article.443	NOUN
cblr-13858	1664	77	house	house	NOUN
cblr-13858	1664	78	bill	bill	PROPN
cblr-13858	1664	79	2930	2930	NUM
cblr-13858	1664	80	allows	allow	VERB
cblr-13858	1664	81	sales	sale	NOUN
cblr-13858	1664	82	of	of	ADP
cblr-13858	1664	83	securities	security	NOUN
cblr-13858	1664	84	either	either	CCONJ
cblr-13858	1664	85	directly	directly	ADV
cblr-13858	1664	86	by	by	ADP
cblr-13858	1664	87	the	the	DET
cblr-13858	1664	88	issuer	issuer	NOUN
cblr-13858	1664	89	or	or	CCONJ
cblr-13858	1664	90	through	through	ADP
cblr-13858	1664	91	intermediaries	intermediary	NOUN
cblr-13858	1664	92	.	.	PUNCT
cblr-13858	1665	1	"4	"4	ADJ
cblr-13858	1665	2	intermediaries	intermediary	NOUN
cblr-13858	1665	3	who	who	PRON
cblr-13858	1665	4	meet	meet	VERB
cblr-13858	1665	5	the	the	DET
cblr-13858	1665	6	requirements	requirement	NOUN
cblr-13858	1665	7	of	of	ADP
cblr-13858	1665	8	the	the	DET
cblr-13858	1665	9	exemption	exemption	NOUN
cblr-13858	1665	10	are	be	AUX
cblr-13858	1665	11	protected	protect	VERB
cblr-13858	1665	12	from	from	ADP
cblr-13858	1665	13	treatment	treatment	NOUN
cblr-13858	1665	14	as	as	ADP
cblr-13858	1665	15	brokers	broker	NOUN
cblr-13858	1665	16	under	under	ADP
cblr-13858	1665	17	the	the	DET
cblr-13858	1665	18	exchange	exchange	NOUN
cblr-13858	1665	19	act	act	NOUN
cblr-13858	1665	20	.	.	PUNCT
cblr-13858	1666	1	"	"	PUNCT
cblr-13858	1666	2	'	'	PUNCT
cblr-13858	1666	3	the	the	DET
cblr-13858	1666	4	maximum	maximum	ADJ
cblr-13858	1666	5	offering	offering	NOUN
cblr-13858	1666	6	amount	amount	NOUN
cblr-13858	1666	7	allowed	allow	VERB
cblr-13858	1666	8	by	by	ADP
cblr-13858	1666	9	the	the	DET
cblr-13858	1666	10	bill	bill	NOUN
cblr-13858	1666	11	is	be	AUX
cblr-13858	1666	12	$	$	SYM
cblr-13858	1666	13	1	1	NUM
cblr-13858	1666	14	million	million	NUM
cblr-13858	1666	15	,	,	PUNCT
cblr-13858	1666	16	or	or	CCONJ
cblr-13858	1666	17	$	$	SYM
cblr-13858	1666	18	2	2	NUM
cblr-13858	1666	19	million	million	NUM
cblr-13858	1666	20	if	if	SCONJ
cblr-13858	1666	21	the	the	DET
cblr-13858	1666	22	issuer	issuer	NOUN
cblr-13858	1666	23	provides	provide	VERB
cblr-13858	1666	24	investors	investor	NOUN
cblr-13858	1666	25	with	with	ADP
cblr-13858	1666	26	audited	audit	VERB
cblr-13858	1666	27	financial	financial	ADJ
cblr-13858	1666	28	statements	statement	NOUN
cblr-13858	1666	29	.	.	PUNCT
cblr-13858	1667	1	446	446	NUM
cblr-13858	1667	2	the	the	DET
cblr-13858	1667	3	aggregate	aggregate	ADJ
cblr-13858	1667	4	amount	amount	NOUN
cblr-13858	1667	5	sold	sell	VERB
cblr-13858	1667	6	to	to	ADP
cblr-13858	1667	7	any	any	DET
cblr-13858	1667	8	investor	investor	NOUN
cblr-13858	1667	9	in	in	ADP
cblr-13858	1667	10	a	a	DET
cblr-13858	1667	11	twelve	twelve	NUM
cblr-13858	1667	12	month	month	NOUN
cblr-13858	1667	13	period	period	NOUN
cblr-13858	1667	14	may	may	AUX
cblr-13858	1667	15	not	not	PART
cblr-13858	1667	16	exceed	exceed	VERB
cblr-13858	1667	17	the	the	DET
cblr-13858	1667	18	lesser	less	ADJ
cblr-13858	1667	19	of	of	ADP
cblr-13858	1667	20	$	$	SYM
cblr-13858	1667	21	10,000	10,000	NUM
cblr-13858	1667	22	or	or	CCONJ
cblr-13858	1667	23	10	10	NUM
cblr-13858	1667	24	%	%	NOUN
cblr-13858	1667	25	of	of	ADP
cblr-13858	1667	26	the	the	DET
cblr-13858	1667	27	investor	investor	NOUN
cblr-13858	1667	28	's	's	PART
cblr-13858	1667	29	annual	annual	ADJ
cblr-13858	1667	30	income.447	income.447	PROPN
cblr-13858	1667	31	441	441	NUM
cblr-13858	1667	32	see	see	PROPN
cblr-13858	1667	33	entrepreneur	entrepreneur	NOUN
cblr-13858	1667	34	access	access	NOUN
cblr-13858	1667	35	to	to	ADP
cblr-13858	1667	36	capital	capital	PROPN
cblr-13858	1667	37	act	act	PROPN
cblr-13858	1667	38	,	,	PUNCT
cblr-13858	1667	39	h.r	h.r	PROPN
cblr-13858	1667	40	.	.	PROPN
cblr-13858	1667	41	2930	2930	NUM
cblr-13858	1667	42	,	,	PUNCT
cblr-13858	1667	43	112th	112th	PROPN
cblr-13858	1667	44	cong	cong	NOUN
cblr-13858	1667	45	.	.	PUNCT
cblr-13858	1668	1	(	(	PUNCT
cblr-13858	1668	2	2011	2011	NUM
cblr-13858	1668	3	)	)	PUNCT
cblr-13858	1668	4	.	.	PUNCT
cblr-13858	1669	1	442	442	NUM
cblr-13858	1669	2	see	see	VERB
cblr-13858	1669	3	executive	executive	ADJ
cblr-13858	1669	4	office	office	NOUN
cblr-13858	1669	5	of	of	ADP
cblr-13858	1669	6	the	the	DET
cblr-13858	1669	7	president	president	NOUN
cblr-13858	1669	8	,	,	PUNCT
cblr-13858	1669	9	statement	statement	NOUN
cblr-13858	1669	10	of	of	ADP
cblr-13858	1669	11	administration	administration	NOUN
cblr-13858	1669	12	policy	policy	NOUN
cblr-13858	1669	13	(	(	PUNCT
cblr-13858	1669	14	nov	nov	PROPN
cblr-13858	1669	15	.	.	PROPN
cblr-13858	1669	16	2	2	NUM
cblr-13858	1669	17	,	,	PUNCT
cblr-13858	1669	18	2011	2011	NUM
cblr-13858	1669	19	)	)	PUNCT
cblr-13858	1669	20	,	,	PUNCT
cblr-13858	1669	21	available	available	ADJ
cblr-13858	1669	22	at	at	ADP
cblr-13858	1669	23	www.whitehouse.gov/sites/default/files/	www.whitehouse.gov/sites/default/files/	PROPN
cblr-13858	1669	24	omb	omb	PROPN
cblr-13858	1669	25	/	/	SYM
cblr-13858	1669	26	legislative	legislative	ADJ
cblr-13858	1669	27	/	/	SYM
cblr-13858	1669	28	sap/112	sap/112	PROPN
cblr-13858	1669	29	/	/	SYM
cblr-13858	1669	30	saphr2930r_20111102.pdf	saphr2930r_20111102.pdf	NOUN
cblr-13858	1669	31	(	(	PUNCT
cblr-13858	1669	32	"	"	PUNCT
cblr-13858	1669	33	the	the	DET
cblr-13858	1669	34	administration	administration	NOUN
cblr-13858	1669	35	supports	support	VERB
cblr-13858	1669	36	house	house	NOUN
cblr-13858	1669	37	passage	passage	NOUN
cblr-13858	1669	38	of	of	ADP
cblr-13858	1669	39	h.r	h.r	PROPN
cblr-13858	1669	40	.	.	PROPN
cblr-13858	1669	41	2930	2930	NUM
cblr-13858	1669	42	.	.	PUNCT
cblr-13858	1670	1	"	"	PUNCT
cblr-13858	1670	2	)	)	PUNCT
cblr-13858	1670	3	.	.	PUNCT
cblr-13858	1671	1	4	4	NUM
cblr-13858	1671	2	"	"	PUNCT
cblr-13858	1671	3	a	a	DET
cblr-13858	1671	4	draft	draft	NOUN
cblr-13858	1671	5	of	of	ADP
cblr-13858	1671	6	this	this	DET
cblr-13858	1671	7	article	article	NOUN
cblr-13858	1671	8	was	be	AUX
cblr-13858	1671	9	publicly	publicly	ADV
cblr-13858	1671	10	available	available	ADJ
cblr-13858	1671	11	on	on	ADP
cblr-13858	1671	12	the	the	DET
cblr-13858	1671	13	social	social	ADJ
cblr-13858	1671	14	science	science	NOUN
cblr-13858	1671	15	research	research	NOUN
cblr-13858	1671	16	network	network	NOUN
cblr-13858	1671	17	long	long	ADV
cblr-13858	1671	18	before	before	SCONJ
cblr-13858	1671	19	any	any	PRON
cblr-13858	1671	20	of	of	ADP
cblr-13858	1671	21	these	these	DET
cblr-13858	1671	22	bills	bill	NOUN
cblr-13858	1671	23	was	be	AUX
cblr-13858	1671	24	introduced	introduce	VERB
cblr-13858	1671	25	.	.	PUNCT
cblr-13858	1672	1	the	the	DET
cblr-13858	1672	2	author	author	NOUN
cblr-13858	1672	3	had	have	VERB
cblr-13858	1672	4	an	an	DET
cblr-13858	1672	5	extensive	extensive	ADJ
cblr-13858	1672	6	discussion	discussion	NOUN
cblr-13858	1672	7	with	with	ADP
cblr-13858	1672	8	a	a	DET
cblr-13858	1672	9	member	member	NOUN
cblr-13858	1672	10	of	of	ADP
cblr-13858	1672	11	congressman	congressman	PROPN
cblr-13858	1672	12	mchenry	mchenry	PROPN
cblr-13858	1672	13	's	's	PART
cblr-13858	1672	14	legislative	legislative	ADJ
cblr-13858	1672	15	staff	staff	NOUN
cblr-13858	1672	16	after	after	SCONJ
cblr-13858	1672	17	congressman	congressman	PROPN
cblr-13858	1672	18	mchenry	mchenry	PROPN
cblr-13858	1672	19	first	first	ADV
cblr-13858	1672	20	introduced	introduce	VERB
cblr-13858	1672	21	his	his	PRON
cblr-13858	1672	22	bill	bill	NOUN
cblr-13858	1672	23	.	.	PUNCT
cblr-13858	1673	1	the	the	DET
cblr-13858	1673	2	original	original	ADJ
cblr-13858	1673	3	bill	bill	NOUN
cblr-13858	1673	4	was	be	AUX
cblr-13858	1673	5	rather	rather	ADV
cblr-13858	1673	6	spartan	spartan	ADJ
cblr-13858	1673	7	;	;	PUNCT
cblr-13858	1673	8	the	the	DET
cblr-13858	1673	9	bill	bill	NOUN
cblr-13858	1673	10	that	that	PRON
cblr-13858	1673	11	passed	pass	VERB
cblr-13858	1673	12	the	the	DET
cblr-13858	1673	13	house	house	NOUN
cblr-13858	1673	14	added	add	VERB
cblr-13858	1673	15	many	many	ADJ
cblr-13858	1673	16	of	of	ADP
cblr-13858	1673	17	the	the	DET
cblr-13858	1673	18	provisions	provision	NOUN
cblr-13858	1673	19	recommended	recommend	VERB
cblr-13858	1673	20	in	in	ADP
cblr-13858	1673	21	this	this	DET
cblr-13858	1673	22	article	article	NOUN
cblr-13858	1673	23	.	.	PUNCT
cblr-13858	1674	1	however	however	ADV
cblr-13858	1674	2	,	,	PUNCT
cblr-13858	1674	3	the	the	DET
cblr-13858	1674	4	author	author	NOUN
cblr-13858	1674	5	was	be	AUX
cblr-13858	1674	6	not	not	PART
cblr-13858	1674	7	directly	directly	ADV
cblr-13858	1674	8	involved	involve	VERB
cblr-13858	1674	9	in	in	ADP
cblr-13858	1674	10	drafting	draft	VERB
cblr-13858	1674	11	the	the	DET
cblr-13858	1674	12	bill	bill	NOUN
cblr-13858	1674	13	.	.	PUNCT
cblr-13858	1674	14	'	'	PUNCT
cblr-13858	1675	1	h.r	h.r	AUX
cblr-13858	1675	2	.	.	PROPN
cblr-13858	1675	3	2930	2930	NUM
cblr-13858	1675	4	§	§	PROPN
cblr-13858	1675	5	2	2	NUM
cblr-13858	1675	6	.	.	PUNCT
cblr-13858	1675	7	certain	certain	ADJ
cblr-13858	1675	8	issuers	issuer	NOUN
cblr-13858	1675	9	are	be	AUX
cblr-13858	1675	10	disqualified	disqualify	VERB
cblr-13858	1675	11	from	from	ADP
cblr-13858	1675	12	using	use	VERB
cblr-13858	1675	13	the	the	DET
cblr-13858	1675	14	exemption	exemption	NOUN
cblr-13858	1675	15	.	.	PUNCT
cblr-13858	1676	1	see	see	VERB
cblr-13858	1676	2	i	i	PRON
cblr-13858	1676	3	d.	d.	PROPN
cblr-13858	1676	4	§	§	PROPN
cblr-13858	1676	5	2(d	2(d	NUM
cblr-13858	1676	6	)	)	PUNCT
cblr-13858	1676	7	.	.	PUNCT
cblr-13858	1677	1	44	44	NUM
cblr-13858	1678	1	i	i	PRON
cblr-13858	1678	2	d.	d.	PROPN
cblr-13858	1678	3	§	§	PROPN
cblr-13858	1678	4	2(b	2(b	NUM
cblr-13858	1678	5	)	)	PUNCT
cblr-13858	1678	6	.	.	PUNCT
cblr-13858	1679	1	446	446	NUM
cblr-13858	1680	1	i	i	PRON
cblr-13858	1680	2	d.	d.	PROPN
cblr-13858	1680	3	§	§	PROPN
cblr-13858	1680	4	2(a	2(a	NUM
cblr-13858	1680	5	)	)	PUNCT
cblr-13858	1680	6	.	.	PUNCT
cblr-13858	1681	1	these	these	DET
cblr-13858	1681	2	limits	limit	NOUN
cblr-13858	1681	3	are	be	AUX
cblr-13858	1681	4	for	for	ADP
cblr-13858	1681	5	a	a	DET
cblr-13858	1681	6	twelve	twelve	NUM
cblr-13858	1681	7	month	month	NOUN
cblr-13858	1681	8	period	period	NOUN
cblr-13858	1681	9	.	.	PUNCT
cblr-13858	1682	1	447	447	NUM
cblr-13858	1682	2	i	i	PRON
cblr-13858	1682	3	d.	d.	PROPN
cblr-13858	1682	4	crowdfunding	crowdfunding	PROPN
cblr-13858	1682	5	and	and	CCONJ
cblr-13858	1682	6	securities	security	NOUN
cblr-13858	1682	7	laws	law	NOUN
cblr-13858	1682	8	89no	89no	NOUN
cblr-13858	1682	9	.	.	PUNCT
cblr-13858	1683	1	i:1	i:1	PRON
cblr-13858	1683	2	]	]	PUNCT
cblr-13858	1683	3	however	however	ADV
cblr-13858	1683	4	,	,	PUNCT
cblr-13858	1683	5	the	the	DET
cblr-13858	1683	6	issuer	issuer	NOUN
cblr-13858	1683	7	and	and	CCONJ
cblr-13858	1683	8	any	any	DET
cblr-13858	1683	9	intermediary	intermediary	NOUN
cblr-13858	1683	10	may	may	AUX
cblr-13858	1683	11	rely	rely	VERB
cblr-13858	1683	12	on	on	ADP
cblr-13858	1683	13	investors	investor	NOUN
cblr-13858	1683	14	'	'	PART
cblr-13858	1683	15	self	self	NOUN
cblr-13858	1683	16	-	-	PUNCT
cblr-13858	1683	17	certifications	certification	NOUN
cblr-13858	1683	18	of	of	ADP
cblr-13858	1683	19	income	income	NOUN
cblr-13858	1683	20	.	.	PUNCT
cblr-13858	1684	1	4	4	NUM
cblr-13858	1684	2	4	4	NUM
cblr-13858	1684	3	8	8	NUM
cblr-13858	1684	4	investors	investor	NOUN
cblr-13858	1684	5	who	who	PRON
cblr-13858	1684	6	purchase	purchase	VERB
cblr-13858	1684	7	crowdfunded	crowdfunded	ADJ
cblr-13858	1684	8	securities	security	NOUN
cblr-13858	1684	9	generally	generally	ADV
cblr-13858	1684	10	may	may	AUX
cblr-13858	1684	11	not	not	PART
cblr-13858	1684	12	resell	resell	VERB
cblr-13858	1684	13	them	they	PRON
cblr-13858	1684	14	for	for	ADP
cblr-13858	1684	15	one	one	NUM
cblr-13858	1684	16	year	year	NOUN
cblr-13858	1684	17	,	,	PUNCT
cblr-13858	1684	18	except	except	SCONJ
cblr-13858	1684	19	in	in	ADP
cblr-13858	1684	20	limited	limited	ADJ
cblr-13858	1684	21	circumstances.44	circumstances.44	PROPN
cblr-13858	1684	22	9	9	NUM
cblr-13858	1684	23	in	in	ADP
cblr-13858	1684	24	addition	addition	NOUN
cblr-13858	1684	25	,	,	PUNCT
cblr-13858	1684	26	those	those	DET
cblr-13858	1684	27	investors	investor	NOUN
cblr-13858	1684	28	are	be	AUX
cblr-13858	1684	29	not	not	PART
cblr-13858	1684	30	counted	count	VERB
cblr-13858	1684	31	as	as	ADP
cblr-13858	1684	32	record	record	NOUN
cblr-13858	1684	33	shareholders	shareholder	NOUN
cblr-13858	1684	34	for	for	ADP
cblr-13858	1684	35	purposes	purpose	NOUN
cblr-13858	1684	36	of	of	ADP
cblr-13858	1684	37	exchange	exchange	NOUN
cblr-13858	1684	38	act	act	NOUN
cblr-13858	1684	39	registration	registration	NOUN
cblr-13858	1684	40	requirements.45	requirements.45	NOUN
cblr-13858	1684	41	0	0	NUM
cblr-13858	1684	42	house	house	NOUN
cblr-13858	1684	43	bill	bill	PROPN
cblr-13858	1684	44	2930	2930	NUM
cblr-13858	1684	45	includes	include	VERB
cblr-13858	1684	46	a	a	DET
cblr-13858	1684	47	number	number	NOUN
cblr-13858	1684	48	of	of	ADP
cblr-13858	1684	49	disclosure	disclosure	NOUN
cblr-13858	1684	50	-	-	PUNCT
cblr-13858	1684	51	related	relate	VERB
cblr-13858	1684	52	provisions	provision	NOUN
cblr-13858	1684	53	.	.	PUNCT
cblr-13858	1685	1	to	to	PART
cblr-13858	1685	2	qualify	qualify	VERB
cblr-13858	1685	3	for	for	ADP
cblr-13858	1685	4	the	the	DET
cblr-13858	1685	5	exemption	exemption	NOUN
cblr-13858	1685	6	,	,	PUNCT
cblr-13858	1685	7	issuers	issuer	NOUN
cblr-13858	1685	8	(	(	PUNCT
cblr-13858	1685	9	or	or	CCONJ
cblr-13858	1685	10	intermediaries	intermediary	NOUN
cblr-13858	1685	11	if	if	SCONJ
cblr-13858	1685	12	the	the	DET
cblr-13858	1685	13	issuer	issuer	NOUN
cblr-13858	1685	14	is	be	AUX
cblr-13858	1685	15	selling	sell	VERB
cblr-13858	1685	16	through	through	ADP
cblr-13858	1685	17	an	an	DET
cblr-13858	1685	18	intermediary	intermediary	NOUN
cblr-13858	1685	19	)	)	PUNCT
cblr-13858	1685	20	must45	must45	NOUN
cblr-13858	1685	21	1	1	NUM
cblr-13858	1685	22	:	:	PUNCT
cblr-13858	1685	23	(	(	PUNCT
cblr-13858	1685	24	1	1	X
cblr-13858	1685	25	)	)	PUNCT
cblr-13858	1685	26	warn	warn	VERB
cblr-13858	1685	27	investors	investor	NOUN
cblr-13858	1685	28	about	about	ADP
cblr-13858	1685	29	the	the	DET
cblr-13858	1685	30	speculative	speculative	ADJ
cblr-13858	1685	31	nature	nature	NOUN
cblr-13858	1685	32	of	of	ADP
cblr-13858	1685	33	the	the	DET
cblr-13858	1685	34	securities	security	NOUN
cblr-13858	1685	35	,	,	PUNCT
cblr-13858	1685	36	the	the	DET
cblr-13858	1685	37	risk	risk	NOUN
cblr-13858	1685	38	of	of	ADP
cblr-13858	1685	39	illiquidity	illiquidity	NOUN
cblr-13858	1685	40	,	,	PUNCT
cblr-13858	1685	41	and	and	CCONJ
cblr-13858	1685	42	the	the	DET
cblr-13858	1685	43	restriction	restriction	NOUN
cblr-13858	1685	44	on	on	ADP
cblr-13858	1685	45	resale	resale	NOUN
cblr-13858	1685	46	;	;	PUNCT
cblr-13858	1685	47	(	(	PUNCT
cblr-13858	1685	48	2	2	X
cblr-13858	1685	49	)	)	PUNCT
cblr-13858	1685	50	require	require	VERB
cblr-13858	1685	51	investors	investor	NOUN
cblr-13858	1685	52	to	to	PART
cblr-13858	1685	53	answer	answer	VERB
cblr-13858	1685	54	questions	question	NOUN
cblr-13858	1685	55	demonstrating	demonstrate	VERB
cblr-13858	1685	56	an	an	DET
cblr-13858	1685	57	understanding	understanding	NOUN
cblr-13858	1685	58	of	of	ADP
cblr-13858	1685	59	the	the	DET
cblr-13858	1685	60	risk	risk	NOUN
cblr-13858	1685	61	,	,	PUNCT
cblr-13858	1685	62	including	include	VERB
cblr-13858	1685	63	the	the	DET
cblr-13858	1685	64	risk	risk	NOUN
cblr-13858	1685	65	of	of	ADP
cblr-13858	1685	66	illiquidity	illiquidity	NOUN
cblr-13858	1685	67	,	,	PUNCT
cblr-13858	1685	68	and	and	CCONJ
cblr-13858	1685	69	any	any	DET
cblr-13858	1685	70	other	other	ADJ
cblr-13858	1685	71	matters	matter	NOUN
cblr-13858	1685	72	that	that	PRON
cblr-13858	1685	73	the	the	DET
cblr-13858	1685	74	sec	sec	PROPN
cblr-13858	1685	75	adds	add	VERB
cblr-13858	1685	76	by	by	ADP
cblr-13858	1685	77	rule	rule	NOUN
cblr-13858	1685	78	;	;	PUNCT
cblr-13858	1685	79	(	(	PUNCT
cblr-13858	1685	80	3	3	X
cblr-13858	1685	81	)	)	PUNCT
cblr-13858	1685	82	provide	provide	VERB
cblr-13858	1685	83	the	the	DET
cblr-13858	1685	84	sec	sec	PROPN
cblr-13858	1685	85	with	with	ADP
cblr-13858	1685	86	limited	limited	ADJ
cblr-13858	1685	87	information	information	NOUN
cblr-13858	1685	88	about	about	ADP
cblr-13858	1685	89	the	the	DET
cblr-13858	1685	90	intermediary	intermediary	NOUN
cblr-13858	1685	91	,	,	PUNCT
cblr-13858	1685	92	if	if	SCONJ
cblr-13858	1685	93	one	one	PRON
cblr-13858	1685	94	is	be	AUX
cblr-13858	1685	95	used	use	VERB
cblr-13858	1685	96	;	;	PUNCT
cblr-13858	1685	97	(	(	PUNCT
cblr-13858	1685	98	4	4	X
cblr-13858	1685	99	)	)	PUNCT
cblr-13858	1685	100	provide	provide	VERB
cblr-13858	1685	101	the	the	DET
cblr-13858	1685	102	sec	sec	PROPN
cblr-13858	1685	103	and	and	CCONJ
cblr-13858	1685	104	potential	potential	ADJ
cblr-13858	1685	105	investors	investor	NOUN
cblr-13858	1685	106	with	with	ADP
cblr-13858	1685	107	information	information	NOUN
cblr-13858	1685	108	about	about	ADP
cblr-13858	1685	109	the	the	DET
cblr-13858	1685	110	issuer	issuer	NOUN
cblr-13858	1685	111	,	,	PUNCT
cblr-13858	1685	112	its	its	PRON
cblr-13858	1685	113	principals	principal	NOUN
cblr-13858	1685	114	,	,	PUNCT
cblr-13858	1685	115	the	the	DET
cblr-13858	1685	116	purpose	purpose	NOUN
cblr-13858	1685	117	of	of	ADP
cblr-13858	1685	118	the	the	DET
cblr-13858	1685	119	offering	offering	NOUN
cblr-13858	1685	120	,	,	PUNCT
cblr-13858	1685	121	the	the	DET
cblr-13858	1685	122	target	target	NOUN
cblr-13858	1685	123	offering	offering	NOUN
cblr-13858	1685	124	amount	amount	NOUN
cblr-13858	1685	125	,	,	PUNCT
cblr-13858	1685	126	and	and	CCONJ
cblr-13858	1685	127	the	the	DET
cblr-13858	1685	128	deadline	deadline	NOUN
cblr-13858	1685	129	for	for	ADP
cblr-13858	1685	130	reaching	reach	VERB
cblr-13858	1685	131	that	that	SCONJ
cblr-13858	1685	132	amount;452	amount;452	NOUN
cblr-13858	1685	133	and	and	CCONJ
cblr-13858	1685	134	(	(	PUNCT
cblr-13858	1685	135	5	5	NUM
cblr-13858	1685	136	)	)	PUNCT
cblr-13858	1685	137	when	when	SCONJ
cblr-13858	1685	138	the	the	DET
cblr-13858	1685	139	offering	offering	NOUN
cblr-13858	1685	140	is	be	AUX
cblr-13858	1685	141	completed	complete	VERB
cblr-13858	1685	142	,	,	PUNCT
cblr-13858	1685	143	provide	provide	VERB
cblr-13858	1685	144	the	the	DET
cblr-13858	1685	145	sec	sec	PROPN
cblr-13858	1685	146	with	with	ADP
cblr-13858	1685	147	a	a	DET
cblr-13858	1685	148	notice	notice	NOUN
cblr-13858	1685	149	of	of	ADP
cblr-13858	1685	150	the	the	DET
cblr-13858	1685	151	aggregate	aggregate	ADJ
cblr-13858	1685	152	offering	offering	NOUN
cblr-13858	1685	153	amount	amount	NOUN
cblr-13858	1685	154	and	and	CCONJ
cblr-13858	1685	155	the	the	DET
cblr-13858	1685	156	number	number	NOUN
cblr-13858	1685	157	of	of	ADP
cblr-13858	1685	158	purchasers	purchaser	NOUN
cblr-13858	1685	159	.	.	PUNCT
cblr-13858	1686	1	if	if	SCONJ
cblr-13858	1686	2	the	the	DET
cblr-13858	1686	3	offering	offering	NOUN
cblr-13858	1686	4	is	be	AUX
cblr-13858	1686	5	being	be	AUX
cblr-13858	1686	6	made	make	VERB
cblr-13858	1686	7	directly	directly	ADV
cblr-13858	1686	8	by	by	ADP
cblr-13858	1686	9	the	the	DET
cblr-13858	1686	10	issuer	issuer	NOUN
cblr-13858	1686	11	,	,	PUNCT
cblr-13858	1686	12	the	the	DET
cblr-13858	1686	13	issuer	issuer	NOUN
cblr-13858	1686	14	must	must	AUX
cblr-13858	1686	15	also	also	ADV
cblr-13858	1686	16	disclose	disclose	VERB
cblr-13858	1686	17	its	its	PRON
cblr-13858	1686	18	interest	interest	NOUN
cblr-13858	1686	19	in	in	ADP
cblr-13858	1686	20	the	the	DET
cblr-13858	1686	21	offering.5	offering.5	PROPN
cblr-13858	1686	22	if	if	SCONJ
cblr-13858	1686	23	an	an	DET
cblr-13858	1686	24	intermediary	intermediary	NOUN
cblr-13858	1686	25	is	be	AUX
cblr-13858	1686	26	used	use	VERB
cblr-13858	1686	27	,	,	PUNCT
cblr-13858	1686	28	the	the	DET
cblr-13858	1686	29	intermediary	intermediary	NOUN
cblr-13858	1686	30	must	must	AUX
cblr-13858	1686	31	do	do	VERB
cblr-13858	1686	32	a	a	DET
cblr-13858	1686	33	448	448	NUM
cblr-13858	1686	34	i	i	PRON
cblr-13858	1686	35	d.	d.	PROPN
cblr-13858	1686	36	§	§	PROPN
cblr-13858	1686	37	2(b	2(b	NUM
cblr-13858	1686	38	)	)	PUNCT
cblr-13858	1686	39	.	.	PUNCT
cblr-13858	1687	1	"	"	PUNCT
cblr-13858	1688	1	i	i	PRON
cblr-13858	1688	2	d.	d.	PROPN
cblr-13858	1688	3	4o	4o	PROPN
cblr-13858	1689	1	i	i	PRON
cblr-13858	1689	2	d.	d.	PROPN
cblr-13858	1689	3	§	§	PROPN
cblr-13858	1689	4	3	3	NUM
cblr-13858	1689	5	.	.	X
cblr-13858	1689	6	451	451	NUM
cblr-13858	1689	7	see	see	VERB
cblr-13858	1689	8	i	i	PRON
cblr-13858	1689	9	d.	d.	PROPN
cblr-13858	1689	10	§	§	PROPN
cblr-13858	1689	11	2(b	2(b	NUM
cblr-13858	1689	12	)	)	PUNCT
cblr-13858	1689	13	.	.	PUNCT
cblr-13858	1690	1	452	452	NUM
cblr-13858	1690	2	issuers	issuer	NOUN
cblr-13858	1690	3	may	may	AUX
cblr-13858	1690	4	not	not	PART
cblr-13858	1690	5	draw	draw	VERB
cblr-13858	1690	6	on	on	ADP
cblr-13858	1690	7	the	the	DET
cblr-13858	1690	8	pledged	pledge	VERB
cblr-13858	1690	9	funds	fund	NOUN
cblr-13858	1690	10	un'til	un'til	PROPN
cblr-13858	1690	11	investors	investor	NOUN
cblr-13858	1690	12	have	have	AUX
cblr-13858	1690	13	pledged	pledge	VERB
cblr-13858	1690	14	at	at	ADV
cblr-13858	1690	15	least	least	ADV
cblr-13858	1690	16	60	60	NUM
cblr-13858	1690	17	%	%	NOUN
cblr-13858	1690	18	of	of	ADP
cblr-13858	1690	19	the	the	DET
cblr-13858	1690	20	target	target	NOUN
cblr-13858	1690	21	amount	amount	NOUN
cblr-13858	1690	22	.	.	PUNCT
cblr-13858	1691	1	i	i	PRON
cblr-13858	1691	2	d.	d.	PROPN
cblr-13858	1691	3	§	§	PROPN
cblr-13858	1691	4	2(b	2(b	NUM
cblr-13858	1691	5	)	)	PUNCT
cblr-13858	1691	6	.	.	PUNCT
cblr-13858	1692	1	,	,	PUNCT
cblr-13858	1692	2	453	453	NUM
cblr-13858	1692	3	i	i	NOUN
cblr-13858	1692	4	d.	d.	PROPN
cblr-13858	1693	1	[	[	X
cblr-13858	1693	2	vol	vol	NOUN
cblr-13858	1693	3	.	.	PUNCT
cblr-13858	1694	1	2012col	2012col	NUM
cblr-13858	1694	2	umia	umia	NOUN
cblr-13858	1694	3	b	b	PROPN
cblr-13858	1694	4	usiness	usiness	NOUN
cblr-13858	1694	5	la	la	PROPN
cblr-13858	1694	6	w	w	PROPN
cblr-13858	1694	7	re	re	PROPN
cblr-13858	1694	8	vie	vie	PROPN
cblr-13858	1694	9	w90	w90	PROPN
cblr-13858	1694	10	background	background	NOUN
cblr-13858	1694	11	check	check	NOUN
cblr-13858	1694	12	on	on	ADP
cblr-13858	1694	13	the	the	DET
cblr-13858	1694	14	issuer	issuer	NOUN
cblr-13858	1694	15	's	's	PART
cblr-13858	1694	16	principals.45	principals.45	ADJ
cblr-13858	1694	17	4	4	NUM
cblr-13858	1694	18	the	the	DET
cblr-13858	1694	19	issuer	issuer	NOUN
cblr-13858	1694	20	or	or	CCONJ
cblr-13858	1694	21	the	the	DET
cblr-13858	1694	22	intermediary	intermediary	NOUN
cblr-13858	1694	23	must	must	AUX
cblr-13858	1694	24	also	also	ADV
cblr-13858	1694	25	take	take	VERB
cblr-13858	1694	26	"	"	PUNCT
cblr-13858	1694	27	reasonable	reasonable	ADJ
cblr-13858	1694	28	measures	measure	NOUN
cblr-13858	1694	29	to	to	PART
cblr-13858	1694	30	reduce	reduce	VERB
cblr-13858	1694	31	the	the	DET
cblr-13858	1694	32	risk	risk	NOUN
cblr-13858	1694	33	of	of	ADP
cblr-13858	1694	34	fraud	fraud	NOUN
cblr-13858	1694	35	with	with	ADP
cblr-13858	1694	36	respect	respect	NOUN
cblr-13858	1694	37	to	to	ADP
cblr-13858	1694	38	such	such	ADJ
cblr-13858	1694	39	transaction	transaction	NOUN
cblr-13858	1694	40	,	,	PUNCT
cblr-13858	1694	41	"	"	PUNCT
cblr-13858	1694	42	although	although	SCONJ
cblr-13858	1694	43	the	the	DET
cblr-13858	1694	44	bill	bill	NOUN
cblr-13858	1694	45	provides	provide	VERB
cblr-13858	1694	46	no	no	DET
cblr-13858	1694	47	guidance	guidance	NOUN
cblr-13858	1694	48	as	as	ADP
cblr-13858	1694	49	to	to	ADP
cblr-13858	1694	50	what	what	PRON
cblr-13858	1694	51	this	this	PRON
cblr-13858	1694	52	requires	require	VERB
cblr-13858	1694	53	.	.	PUNCT
cblr-13858	1695	1	"55	"55	PROPN
cblr-13858	1696	1	the	the	DET
cblr-13858	1696	2	bill	bill	NOUN
cblr-13858	1696	3	also	also	ADV
cblr-13858	1696	4	includes	include	VERB
cblr-13858	1696	5	several	several	ADJ
cblr-13858	1696	6	structural	structural	ADJ
cblr-13858	1696	7	requirements	requirement	NOUN
cblr-13858	1696	8	.	.	PUNCT
cblr-13858	1697	1	investors	investor	NOUN
cblr-13858	1697	2	and	and	CCONJ
cblr-13858	1697	3	issuers	issuer	NOUN
cblr-13858	1697	4	must	must	AUX
cblr-13858	1697	5	be	be	AUX
cblr-13858	1697	6	able	able	ADJ
cblr-13858	1697	7	to	to	PART
cblr-13858	1697	8	communicate	communicate	VERB
cblr-13858	1697	9	with	with	ADP
cblr-13858	1697	10	each	each	DET
cblr-13858	1697	11	other	other	ADJ
cblr-13858	1697	12	on	on	ADP
cblr-13858	1697	13	the	the	DET
cblr-13858	1697	14	web	web	NOUN
cblr-13858	1697	15	site	site	NOUN
cblr-13858	1697	16	used	use	VERB
cblr-13858	1697	17	for	for	ADP
cblr-13858	1697	18	the	the	DET
cblr-13858	1697	19	offering.4	offering.4	PROPN
cblr-13858	1697	20	56	56	NUM
cblr-13858	1697	21	the	the	DET
cblr-13858	1697	22	sec	sec	PROPN
cblr-13858	1697	23	must	must	AUX
cblr-13858	1697	24	be	be	AUX
cblr-13858	1697	25	granted	grant	VERB
cblr-13858	1697	26	investor	investor	NOUN
cblr-13858	1697	27	-	-	PUNCT
cblr-13858	1697	28	level	level	NOUN
cblr-13858	1697	29	access	access	NOUN
cblr-13858	1697	30	to	to	ADP
cblr-13858	1697	31	the	the	DET
cblr-13858	1697	32	site.5	site.5	NOUN
cblr-13858	1697	33	'	'	PUNCT
cblr-13858	1697	34	cashmanagement	cashmanagement	NOUN
cblr-13858	1697	35	functions	function	NOUN
cblr-13858	1697	36	must	must	AUX
cblr-13858	1697	37	be	be	AUX
cblr-13858	1697	38	outsourced	outsource	VERB
cblr-13858	1697	39	to	to	ADP
cblr-13858	1697	40	a	a	DET
cblr-13858	1697	41	third	third	ADJ
cblr-13858	1697	42	-	-	PUNCT
cblr-13858	1697	43	party	party	NOUN
cblr-13858	1697	44	custodian	custodian	NOUN
cblr-13858	1697	45	,	,	PUNCT
cblr-13858	1697	46	such	such	ADJ
cblr-13858	1697	47	as	as	ADP
cblr-13858	1697	48	a	a	DET
cblr-13858	1697	49	registered	register	VERB
cblr-13858	1697	50	broker	broker	NOUN
cblr-13858	1697	51	-	-	PUNCT
cblr-13858	1697	52	dealer	dealer	NOUN
cblr-13858	1697	53	or	or	CCONJ
cblr-13858	1697	54	an	an	DET
cblr-13858	1697	55	insured	insure	VERB
cblr-13858	1697	56	depository	depository	NOUN
cblr-13858	1697	57	institution.5	institution.5	PROPN
cblr-13858	1697	58	the	the	DET
cblr-13858	1697	59	issuer	issuer	NOUN
cblr-13858	1697	60	or	or	CCONJ
cblr-13858	1697	61	intermediary	intermediary	NOUN
cblr-13858	1697	62	(	(	PUNCT
cblr-13858	1697	63	depending	depend	VERB
cblr-13858	1697	64	on	on	ADP
cblr-13858	1697	65	whether	whether	SCONJ
cblr-13858	1697	66	it	it	PRON
cblr-13858	1697	67	is	be	AUX
cblr-13858	1697	68	a	a	DET
cblr-13858	1697	69	direct	direct	ADJ
cblr-13858	1697	70	or	or	CCONJ
cblr-13858	1697	71	intermediated	intermediated	ADJ
cblr-13858	1697	72	offering	offering	NOUN
cblr-13858	1697	73	)	)	PUNCT
cblr-13858	1697	74	must	must	AUX
cblr-13858	1697	75	maintain	maintain	VERB
cblr-13858	1697	76	such	such	ADJ
cblr-13858	1697	77	books	book	NOUN
cblr-13858	1697	78	and	and	CCONJ
cblr-13858	1697	79	records	record	NOUN
cblr-13858	1697	80	as	as	SCONJ
cblr-13858	1697	81	the	the	DET
cblr-13858	1697	82	sec	sec	PROPN
cblr-13858	1697	83	deems	deem	NOUN
cblr-13858	1697	84	appropriate	appropriate	ADJ
cblr-13858	1697	85	.	.	PUNCT
cblr-13858	1697	86	'	'	PUNCT
cblr-13858	1698	1	finally	finally	ADV
cblr-13858	1698	2	,	,	PUNCT
cblr-13858	1698	3	neither	neither	CCONJ
cblr-13858	1698	4	the	the	DET
cblr-13858	1698	5	issuer	issuer	NOUN
cblr-13858	1698	6	nor	nor	CCONJ
cblr-13858	1698	7	the	the	DET
cblr-13858	1698	8	intermediary	intermediary	NOUN
cblr-13858	1698	9	may	may	AUX
cblr-13858	1698	10	offer	offer	VERB
cblr-13858	1698	11	investment	investment	NOUN
cblr-13858	1698	12	advice.46	advice.46	PROPN
cblr-13858	1698	13	0	0	NUM
cblr-13858	1698	14	house	house	PROPN
cblr-13858	1698	15	bill	bill	PROPN
cblr-13858	1698	16	2930	2930	NUM
cblr-13858	1698	17	preempts	preempt	VERB
cblr-13858	1698	18	state	state	NOUN
cblr-13858	1698	19	offering	offering	NOUN
cblr-13858	1698	20	registration	registration	NOUN
cblr-13858	1698	21	requirements	requirement	NOUN
cblr-13858	1698	22	,	,	PUNCT
cblr-13858	1698	23	but	but	CCONJ
cblr-13858	1698	24	otherwise	otherwise	ADV
cblr-13858	1698	25	leaves	leave	VERB
cblr-13858	1698	26	state	state	NOUN
cblr-13858	1698	27	authority	authority	NOUN
cblr-13858	1698	28	intact.4	intact.4	PROPN
cblr-13858	1698	29	"	"	PUNCT
cblr-13858	1698	30	'	'	PUNCT
cblr-13858	1698	31	in	in	ADP
cblr-13858	1698	32	addition	addition	NOUN
cblr-13858	1698	33	,	,	PUNCT
cblr-13858	1698	34	the	the	DET
cblr-13858	1698	35	sec	sec	PROPN
cblr-13858	1698	36	must	must	AUX
cblr-13858	1698	37	make	make	VERB
cblr-13858	1698	38	the	the	DET
cblr-13858	1698	39	information	information	NOUN
cblr-13858	1698	40	it	it	PRON
cblr-13858	1698	41	receives	receive	VERB
cblr-13858	1698	42	pursuant	pursuant	ADV
cblr-13858	1698	43	to	to	ADP
cblr-13858	1698	44	the	the	DET
cblr-13858	1698	45	exemption	exemption	NOUN
cblr-13858	1698	46	available	available	ADJ
cblr-13858	1698	47	to	to	ADP
cblr-13858	1698	48	state	state	NOUN
cblr-13858	1698	49	securities	security	NOUN
cblr-13858	1698	50	administrators.6	administrators.6	PROPN
cblr-13858	1698	51	2	2	NUM
cblr-13858	1698	52	2	2	NUM
cblr-13858	1698	53	.	.	PUNCT
cblr-13858	1698	54	senate	senate	PROPN
cblr-13858	1698	55	bill	bill	PROPN
cblr-13858	1698	56	1791	1791	NUM
cblr-13858	1698	57	on	on	ADP
cblr-13858	1698	58	november	november	PROPN
cblr-13858	1698	59	2	2	NUM
cblr-13858	1698	60	,	,	PUNCT
cblr-13858	1698	61	2011	2011	NUM
cblr-13858	1698	62	,	,	PUNCT
cblr-13858	1698	63	senator	senator	PROPN
cblr-13858	1698	64	scott	scott	PROPN
cblr-13858	1698	65	brown	brown	PROPN
cblr-13858	1698	66	introduced	introduce	VERB
cblr-13858	1698	67	senate	senate	PROPN
cblr-13858	1698	68	bill	bill	PROPN
cblr-13858	1698	69	1791	1791	NUM
cblr-13858	1698	70	,	,	PUNCT
cblr-13858	1698	71	the	the	DET
cblr-13858	1698	72	democratizing	democratize	VERB
cblr-13858	1698	73	access	access	NOUN
cblr-13858	1698	74	to	to	ADP
cblr-13858	1698	75	capital	capital	NOUN
cblr-13858	1698	76	act	act	NOUN
cblr-13858	1698	77	of	of	ADP
cblr-13858	1698	78	2011.463	2011.463	NUM
cblr-13858	1698	79	senator	senator	NOUN
cblr-13858	1698	80	brown	brown	PROPN
cblr-13858	1698	81	's	's	PART
cblr-13858	1698	82	bill	bill	NOUN
cblr-13858	1698	83	,	,	PUNCT
cblr-13858	1698	84	like	like	ADP
cblr-13858	1698	85	house	house	NOUN
cblr-13858	1698	86	bill	bill	PROPN
cblr-13858	1698	87	2930	2930	NUM
cblr-13858	1698	88	,	,	PUNCT
cblr-13858	1698	89	45	45	NUM
cblr-13858	1698	90	i	i	PROPN
cblr-13858	1698	91	d.	d.	PROPN
cblr-13858	1698	92	45	45	NUM
cblr-13858	1699	1	i	i	PROPN
cblr-13858	1699	2	d.	d.	PROPN
cblr-13858	1699	3	456	456	NUM
cblr-13858	1700	1	i	i	PRON
cblr-13858	1700	2	d.	d.	PROPN
cblr-13858	1700	3	45	45	NUM
cblr-13858	1701	1	i	i	PRON
cblr-13858	1701	2	d.	d.	PROPN
cblr-13858	1701	3	4	4	NUM
cblr-13858	1701	4	"	"	PUNCT
cblr-13858	1701	5	i	i	PROPN
cblr-13858	1701	6	d.	d.	PROPN
cblr-13858	1701	7	459	459	NUM
cblr-13858	1702	1	i	i	PRON
cblr-13858	1702	2	d.	d.	PROPN
cblr-13858	1702	3	460	460	NUM
cblr-13858	1703	1	i	i	PRON
cblr-13858	1703	2	d.	d.	PROPN
cblr-13858	1703	3	461	461	NUM
cblr-13858	1704	1	i	i	NOUN
cblr-13858	1704	2	d.	d.	PROPN
cblr-13858	1704	3	§	§	PROPN
cblr-13858	1704	4	4	4	NUM
cblr-13858	1704	5	.	.	NUM
cblr-13858	1704	6	462	462	NUM
cblr-13858	1705	1	i	i	PRON
cblr-13858	1705	2	d.	d.	PROPN
cblr-13858	1705	3	§	§	PROPN
cblr-13858	1705	4	2	2	NUM
cblr-13858	1705	5	.	.	NOUN
cblr-13858	1705	6	4	4	NUM
cblr-13858	1705	7	'	'	PART
cblr-13858	1705	8	democratizing	democratize	VERB
cblr-13858	1705	9	access	access	NOUN
cblr-13858	1705	10	to	to	ADP
cblr-13858	1705	11	capital	capital	PROPN
cblr-13858	1705	12	act	act	NOUN
cblr-13858	1705	13	of	of	ADP
cblr-13858	1705	14	2011	2011	NUM
cblr-13858	1705	15	,	,	PUNCT
cblr-13858	1705	16	s.	s.	PROPN
cblr-13858	1705	17	1791	1791	NUM
cblr-13858	1705	18	,	,	PUNCT
cblr-13858	1705	19	112th	112th	PROPN
cblr-13858	1705	20	cong	cong	NOUN
cblr-13858	1705	21	.	.	PUNCT
cblr-13858	1706	1	(	(	PUNCT
cblr-13858	1706	2	2011	2011	NUM
cblr-13858	1706	3	)	)	PUNCT
cblr-13858	1706	4	.	.	PUNCT
cblr-13858	1707	1	91cro	91cro	INTJ
cblr-13858	1707	2	wdfunding	wdfunding	NOUN
cblr-13858	1707	3	and	and	CCONJ
cblr-13858	1707	4	securities	security	NOUN
cblr-13858	1707	5	la	la	ADV
cblr-13858	1707	6	wsno	wsno	ADJ
cblr-13858	1707	7	.	.	PUNCT
cblr-13858	1708	1	i	i	PRON
cblr-13858	1708	2	:	:	PUNCT
cblr-13858	1708	3	1	1	X
cblr-13858	1708	4	]	]	PUNCT
cblr-13858	1708	5	incorporates	incorporate	VERB
cblr-13858	1708	6	several	several	ADJ
cblr-13858	1708	7	of	of	ADP
cblr-13858	1708	8	this	this	DET
cblr-13858	1708	9	article	article	NOUN
cblr-13858	1708	10	's	's	PART
cblr-13858	1708	11	policy	policy	NOUN
cblr-13858	1708	12	recommendations.4	recommendations.4	PROPN
cblr-13858	1708	13	64	64	NUM
cblr-13858	1708	14	senate	senate	PROPN
cblr-13858	1708	15	bill	bill	NOUN
cblr-13858	1708	16	1791	1791	NUM
cblr-13858	1708	17	,	,	PUNCT
cblr-13858	1708	18	unlike	unlike	ADP
cblr-13858	1708	19	house	house	NOUN
cblr-13858	1708	20	bill	bill	NOUN
cblr-13858	1708	21	2930	2930	NUM
cblr-13858	1708	22	,	,	PUNCT
cblr-13858	1708	23	would	would	AUX
cblr-13858	1708	24	allow	allow	VERB
cblr-13858	1708	25	offerings	offering	NOUN
cblr-13858	1708	26	to	to	PART
cblr-13858	1708	27	be	be	AUX
cblr-13858	1708	28	conducted	conduct	VERB
cblr-13858	1708	29	only	only	ADV
cblr-13858	1708	30	through	through	ADP
cblr-13858	1708	31	a	a	DET
cblr-13858	1708	32	crowdfunding	crowdfunding	NOUN
cblr-13858	1708	33	intermediary	intermediary	NOUN
cblr-13858	1708	34	.	.	PUNCT
cblr-13858	1709	1	465	465	NUM
cblr-13858	1709	2	the	the	DET
cblr-13858	1709	3	annual	annual	ADJ
cblr-13858	1709	4	offering	offering	NOUN
cblr-13858	1709	5	amount	amount	NOUN
cblr-13858	1709	6	would	would	AUX
cblr-13858	1709	7	be	be	AUX
cblr-13858	1709	8	capped	cap	VERB
cblr-13858	1709	9	at	at	ADP
cblr-13858	1709	10	$	$	SYM
cblr-13858	1709	11	1	1	NUM
cblr-13858	1709	12	million	million	NUM
cblr-13858	1709	13	,	,	PUNCT
cblr-13858	1709	14	with	with	ADP
cblr-13858	1709	15	individual	individual	ADJ
cblr-13858	1709	16	investments	investment	NOUN
cblr-13858	1709	17	limited	limit	VERB
cblr-13858	1709	18	to	to	ADP
cblr-13858	1709	19	$	$	SYM
cblr-13858	1709	20	1,000	1,000	NUM
cblr-13858	1709	21	or	or	CCONJ
cblr-13858	1709	22	less.466	less.466	VERB
cblr-13858	1709	23	to	to	PART
cblr-13858	1709	24	qualify	qualify	VERB
cblr-13858	1709	25	for	for	ADP
cblr-13858	1709	26	the	the	DET
cblr-13858	1709	27	exemption	exemption	NOUN
cblr-13858	1709	28	,	,	PUNCT
cblr-13858	1709	29	issuers	issuer	NOUN
cblr-13858	1709	30	would	would	AUX
cblr-13858	1709	31	have	have	VERB
cblr-13858	1709	32	to	to	PART
cblr-13858	1709	33	file	file	VERB
cblr-13858	1709	34	such	such	ADJ
cblr-13858	1709	35	notice	notice	NOUN
cblr-13858	1709	36	with	with	ADP
cblr-13858	1709	37	the	the	DET
cblr-13858	1709	38	sec	sec	PROPN
cblr-13858	1709	39	as	as	SCONJ
cblr-13858	1709	40	it	it	PRON
cblr-13858	1709	41	shall	shall	AUX
cblr-13858	1709	42	require	require	VERB
cblr-13858	1709	43	and	and	CCONJ
cblr-13858	1709	44	"	"	PUNCT
cblr-13858	1709	45	disclose	disclose	VERB
cblr-13858	1709	46	to	to	ADP
cblr-13858	1709	47	investors	investor	NOUN
cblr-13858	1709	48	all	all	DET
cblr-13858	1709	49	rights	right	NOUN
cblr-13858	1709	50	of	of	ADP
cblr-13858	1709	51	investors	investor	NOUN
cblr-13858	1709	52	,	,	PUNCT
cblr-13858	1709	53	including	include	VERB
cblr-13858	1709	54	complete	complete	ADJ
cblr-13858	1709	55	information	information	NOUN
cblr-13858	1709	56	about	about	ADP
cblr-13858	1709	57	the	the	DET
cblr-13858	1709	58	risks	risk	NOUN
cblr-13858	1709	59	,	,	PUNCT
cblr-13858	1709	60	obligations	obligation	NOUN
cblr-13858	1709	61	,	,	PUNCT
cblr-13858	1709	62	benefits	benefit	NOUN
cblr-13858	1709	63	,	,	PUNCT
cblr-13858	1709	64	history	history	NOUN
cblr-13858	1709	65	,	,	PUNCT
cblr-13858	1709	66	and	and	CCONJ
cblr-13858	1709	67	costs	cost	NOUN
cblr-13858	1709	68	of	of	ADP
cblr-13858	1709	69	offering	offer	VERB
cblr-13858	1709	70	.	.	PUNCT
cblr-13858	1710	1	"467	"467	PROPN
cblr-13858	1711	1	as	as	ADP
cblr-13858	1711	2	in	in	ADP
cblr-13858	1711	3	house	house	NOUN
cblr-13858	1711	4	bill	bill	NOUN
cblr-13858	1711	5	2930	2930	NUM
cblr-13858	1711	6	,	,	PUNCT
cblr-13858	1711	7	resale	resale	NOUN
cblr-13858	1711	8	of	of	ADP
cblr-13858	1711	9	crowdfunded	crowdfunde	VERB
cblr-13858	1711	10	securities	security	NOUN
cblr-13858	1711	11	would	would	AUX
cblr-13858	1711	12	be	be	AUX
cblr-13858	1711	13	restricted	restrict	VERB
cblr-13858	1711	14	for	for	ADP
cblr-13858	1711	15	one	one	NUM
cblr-13858	1711	16	year,4	year,4	ADP
cblr-13858	1711	17	68	68	NUM
cblr-13858	1711	18	and	and	CCONJ
cblr-13858	1711	19	crowdfunded	crowdfunde	VERB
cblr-13858	1711	20	securities	security	NOUN
cblr-13858	1711	21	-	-	PUNCT
cblr-13858	1711	22	holders	holder	NOUN
cblr-13858	1711	23	would	would	AUX
cblr-13858	1711	24	not	not	PART
cblr-13858	1711	25	count	count	VERB
cblr-13858	1711	26	as	as	ADP
cblr-13858	1711	27	record	record	NOUN
cblr-13858	1711	28	shareholders	shareholder	NOUN
cblr-13858	1711	29	for	for	ADP
cblr-13858	1711	30	purposes	purpose	NOUN
cblr-13858	1711	31	of	of	ADP
cblr-13858	1711	32	section	section	NOUN
cblr-13858	1711	33	12(g	12(g	NUM
cblr-13858	1711	34	)	)	PUNCT
cblr-13858	1711	35	of	of	ADP
cblr-13858	1711	36	the	the	DET
cblr-13858	1711	37	exchange	exchange	NOUN
cblr-13858	1711	38	act.469	act.469	NOUN
cblr-13858	1711	39	most	most	ADJ
cblr-13858	1711	40	of	of	ADP
cblr-13858	1711	41	the	the	DET
cblr-13858	1711	42	conditions	condition	NOUN
cblr-13858	1711	43	in	in	ADP
cblr-13858	1711	44	senate	senate	PROPN
cblr-13858	1711	45	bill	bill	PROPN
cblr-13858	1711	46	1791	1791	NUM
cblr-13858	1711	47	are	be	AUX
cblr-13858	1711	48	imposed	impose	VERB
cblr-13858	1711	49	on	on	ADP
cblr-13858	1711	50	crowdfunding	crowdfunde	VERB
cblr-13858	1711	51	intermediaries	intermediary	NOUN
cblr-13858	1711	52	as	as	ADP
cblr-13858	1711	53	requirements	requirement	NOUN
cblr-13858	1711	54	to	to	PART
cblr-13858	1711	55	obtain	obtain	VERB
cblr-13858	1711	56	an	an	DET
cblr-13858	1711	57	exemption	exemption	NOUN
cblr-13858	1711	58	from	from	ADP
cblr-13858	1711	59	regulation	regulation	NOUN
cblr-13858	1711	60	as	as	ADP
cblr-13858	1711	61	brokers.o	brokers.o	PROPN
cblr-13858	1711	62	some	some	PRON
cblr-13858	1711	63	of	of	ADP
cblr-13858	1711	64	the	the	DET
cblr-13858	1711	65	disclosure	disclosure	NOUN
cblr-13858	1711	66	-	-	PUNCT
cblr-13858	1711	67	related	relate	VERB
cblr-13858	1711	68	requirements	requirement	NOUN
cblr-13858	1712	1	471	471	NUM
cblr-13858	1712	2	mirror	mirror	VERB
cblr-13858	1712	3	those	those	PRON
cblr-13858	1712	4	in	in	ADP
cblr-13858	1712	5	house	house	NOUN
cblr-13858	1712	6	bill	bill	PROPN
cblr-13858	1712	7	2930	2930	NUM
cblr-13858	1712	8	.	.	PUNCT
cblr-13858	1713	1	the	the	DET
cblr-13858	1713	2	intermediary	intermediary	NOUN
cblr-13858	1713	3	must	must	AUX
cblr-13858	1713	4	:	:	PUNCT
cblr-13858	1713	5	(	(	PUNCT
cblr-13858	1713	6	1	1	X
cblr-13858	1713	7	)	)	PUNCT
cblr-13858	1713	8	warn	warn	VERB
cblr-13858	1713	9	investors	investor	NOUN
cblr-13858	1713	10	about	about	ADP
cblr-13858	1713	11	the	the	DET
cblr-13858	1713	12	investments	investment	NOUN
cblr-13858	1713	13	'	'	PART
cblr-13858	1713	14	speculative	speculative	ADJ
cblr-13858	1713	15	nature	nature	NOUN
cblr-13858	1713	16	,	,	PUNCT
cblr-13858	1713	17	the	the	DET
cblr-13858	1713	18	problem	problem	NOUN
cblr-13858	1713	19	of	of	ADP
cblr-13858	1713	20	illiquidity	illiquidity	NOUN
cblr-13858	1713	21	,	,	PUNCT
cblr-13858	1713	22	and	and	CCONJ
cblr-13858	1713	23	the	the	DET
cblr-13858	1713	24	one	one	NUM
cblr-13858	1713	25	-	-	PUNCT
cblr-13858	1713	26	year	year	NOUN
cblr-13858	1713	27	restriction	restriction	NOUN
cblr-13858	1713	28	on	on	ADP
cblr-13858	1713	29	resale	resale	NOUN
cblr-13858	1713	30	;	;	PUNCT
cblr-13858	1713	31	(	(	PUNCT
cblr-13858	1713	32	2	2	X
cblr-13858	1713	33	)	)	PUNCT
cblr-13858	1713	34	require	require	VERB
cblr-13858	1713	35	every	every	DET
cblr-13858	1713	36	potential	potential	ADJ
cblr-13858	1713	37	investor	investor	NOUN
cblr-13858	1713	38	to	to	PART
cblr-13858	1713	39	answer	answer	VERB
cblr-13858	1713	40	questions	question	NOUN
cblr-13858	1713	41	demonstrating	demonstrate	VERB
cblr-13858	1713	42	competency	competency	NOUN
cblr-13858	1713	43	as	as	ADP
cblr-13858	1713	44	to	to	ADP
cblr-13858	1713	45	the	the	DET
cblr-13858	1713	46	level	level	NOUN
cblr-13858	1713	47	4	4	NUM
cblr-13858	1713	48	i	i	PROPN
cblr-13858	1713	49	d.	d.	PROPN
cblr-13858	1713	50	§	§	PROPN
cblr-13858	1713	51	2	2	NUM
cblr-13858	1713	52	.	.	PUNCT
cblr-13858	1714	1	the	the	DET
cblr-13858	1714	2	author	author	NOUN
cblr-13858	1714	3	had	have	VERB
cblr-13858	1714	4	no	no	DET
cblr-13858	1714	5	direct	direct	ADJ
cblr-13858	1714	6	contact	contact	NOUN
cblr-13858	1714	7	with	with	ADP
cblr-13858	1714	8	anyone	anyone	PRON
cblr-13858	1714	9	on	on	ADP
cblr-13858	1714	10	senator	senator	PROPN
cblr-13858	1714	11	brown	brown	PROPN
cblr-13858	1714	12	's	's	PART
cblr-13858	1714	13	staff	staff	NOUN
cblr-13858	1714	14	prior	prior	ADV
cblr-13858	1714	15	to	to	ADP
cblr-13858	1714	16	the	the	DET
cblr-13858	1714	17	introduction	introduction	NOUN
cblr-13858	1714	18	of	of	ADP
cblr-13858	1714	19	his	his	PRON
cblr-13858	1714	20	bill	bill	NOUN
cblr-13858	1714	21	,	,	PUNCT
cblr-13858	1714	22	and	and	CCONJ
cblr-13858	1714	23	the	the	DET
cblr-13858	1714	24	author	author	NOUN
cblr-13858	1714	25	was	be	AUX
cblr-13858	1714	26	not	not	PART
cblr-13858	1714	27	involved	involve	VERB
cblr-13858	1714	28	in	in	ADP
cblr-13858	1714	29	its	its	PRON
cblr-13858	1714	30	drafting	drafting	NOUN
cblr-13858	1714	31	.	.	PUNCT
cblr-13858	1715	1	the	the	DET
cblr-13858	1715	2	author	author	NOUN
cblr-13858	1715	3	has	have	AUX
cblr-13858	1715	4	,	,	PUNCT
cblr-13858	1715	5	however	however	ADV
cblr-13858	1715	6	,	,	PUNCT
cblr-13858	1715	7	had	have	VERB
cblr-13858	1715	8	discussions	discussion	NOUN
cblr-13858	1715	9	with	with	ADP
cblr-13858	1715	10	several	several	ADJ
cblr-13858	1715	11	other	other	ADJ
cblr-13858	1715	12	senate	senate	PROPN
cblr-13858	1715	13	staff	staff	NOUN
cblr-13858	1715	14	members	member	NOUN
cblr-13858	1715	15	.	.	PUNCT
cblr-13858	1716	1	465	465	NUM
cblr-13858	1717	1	i	i	PRON
cblr-13858	1717	2	d.	d.	VERB
cblr-13858	1717	3	as	as	ADP
cblr-13858	1717	4	in	in	ADP
cblr-13858	1717	5	h.r	h.r	PROPN
cblr-13858	1717	6	.	.	PROPN
cblr-13858	1717	7	2930	2930	NUM
cblr-13858	1717	8	,	,	PUNCT
cblr-13858	1717	9	certain	certain	ADJ
cblr-13858	1717	10	issuers	issuer	NOUN
cblr-13858	1717	11	would	would	AUX
cblr-13858	1717	12	be	be	AUX
cblr-13858	1717	13	disqualified	disqualify	VERB
cblr-13858	1717	14	from	from	ADP
cblr-13858	1717	15	using	use	VERB
cblr-13858	1717	16	the	the	DET
cblr-13858	1717	17	exemption	exemption	NOUN
cblr-13858	1717	18	under	under	ADP
cblr-13858	1717	19	disqualification	disqualification	NOUN
cblr-13858	1717	20	provisions	provision	NOUN
cblr-13858	1717	21	to	to	PART
cblr-13858	1717	22	be	be	AUX
cblr-13858	1717	23	determined	determine	VERB
cblr-13858	1717	24	from	from	ADP
cblr-13858	1717	25	the	the	DET
cblr-13858	1717	26	sec	sec	PROPN
cblr-13858	1717	27	.	.	PUNCT
cblr-13858	1718	1	i	i	PRON
cblr-13858	1718	2	d.	d.	PROPN
cblr-13858	1718	3	466	466	NUM
cblr-13858	1719	1	i	i	PRON
cblr-13858	1719	2	d.	d.	PROPN
cblr-13858	1719	3	46	46	NUM
cblr-13858	1720	1	i	i	PRON
cblr-13858	1720	2	d.	d.	PROPN
cblr-13858	1720	3	46	46	NUM
cblr-13858	1721	1	i	i	PRON
cblr-13858	1721	2	d.	d.	PROPN
cblr-13858	1721	3	469	469	NUM
cblr-13858	1721	4	i	i	PRON
cblr-13858	1721	5	d.	d.	PROPN
cblr-13858	1721	6	§	§	PROPN
cblr-13858	1721	7	3	3	NUM
cblr-13858	1721	8	.	.	NUM
cblr-13858	1721	9	470	470	NUM
cblr-13858	1722	1	i	i	NOUN
cblr-13858	1722	2	d.	d.	PROPN
cblr-13858	1722	3	§	§	PROPN
cblr-13858	1722	4	7	7	NUM
cblr-13858	1722	5	.	.	X
cblr-13858	1722	6	471	471	NUM
cblr-13858	1722	7	see	see	VERB
cblr-13858	1722	8	i	i	PRON
cblr-13858	1722	9	d.	d.	PROPN
cblr-13858	1722	10	§	§	PROPN
cblr-13858	1722	11	6	6	NUM
cblr-13858	1722	12	.	.	PUNCT
cblr-13858	1723	1	[	[	X
cblr-13858	1723	2	vol	vol	NOUN
cblr-13858	1723	3	.	.	PUNCT
cblr-13858	1723	4	201292	201292	NUM
cblr-13858	1723	5	col	col	PROPN
cblr-13858	1723	6	umia	umia	PROPN
cblr-13858	1723	7	b	b	PROPN
cblr-13858	1723	8	usiness	usiness	PROPN
cblr-13858	1723	9	la	la	PROPN
cblr-13858	1723	10	w	w	PROPN
cblr-13858	1723	11	re	re	PROPN
cblr-13858	1723	12	vie	vie	PROPN
cblr-13858	1723	13	w	w	PROPN
cblr-13858	1723	14	of	of	ADP
cblr-13858	1723	15	risk	risk	NOUN
cblr-13858	1723	16	,	,	PUNCT
cblr-13858	1723	17	the	the	DET
cblr-13858	1723	18	risk	risk	NOUN
cblr-13858	1723	19	of	of	ADP
cblr-13858	1723	20	illiquidity	illiquidity	NOUN
cblr-13858	1723	21	,	,	PUNCT
cblr-13858	1723	22	and	and	CCONJ
cblr-13858	1723	23	other	other	ADJ
cblr-13858	1723	24	areas	area	NOUN
cblr-13858	1723	25	as	as	SCONJ
cblr-13858	1723	26	determined	determine	VERB
cblr-13858	1723	27	by	by	ADP
cblr-13858	1723	28	the	the	DET
cblr-13858	1723	29	sec	sec	PROPN
cblr-13858	1723	30	;	;	PUNCT
cblr-13858	1723	31	(	(	PUNCT
cblr-13858	1723	32	3	3	X
cblr-13858	1723	33	)	)	PUNCT
cblr-13858	1723	34	provide	provide	VERB
cblr-13858	1723	35	information	information	NOUN
cblr-13858	1723	36	to	to	ADP
cblr-13858	1723	37	the	the	DET
cblr-13858	1723	38	sec	sec	PROPN
cblr-13858	1723	39	about	about	ADP
cblr-13858	1723	40	the	the	DET
cblr-13858	1723	41	intermediary	intermediary	NOUN
cblr-13858	1723	42	and	and	CCONJ
cblr-13858	1723	43	its	its	PRON
cblr-13858	1723	44	employees	employee	NOUN
cblr-13858	1723	45	;	;	PUNCT
cblr-13858	1723	46	and	and	CCONJ
cblr-13858	1723	47	(	(	PUNCT
cblr-13858	1723	48	4	4	X
cblr-13858	1723	49	)	)	PUNCT
cblr-13858	1723	50	provide	provide	VERB
cblr-13858	1723	51	a	a	DET
cblr-13858	1723	52	notice	notice	NOUN
cblr-13858	1723	53	to	to	ADP
cblr-13858	1723	54	the	the	DET
cblr-13858	1723	55	sec	sec	PROPN
cblr-13858	1723	56	that	that	PRON
cblr-13858	1723	57	includes	include	VERB
cblr-13858	1723	58	information	information	NOUN
cblr-13858	1723	59	about	about	ADP
cblr-13858	1723	60	the	the	DET
cblr-13858	1723	61	issuer	issuer	NOUN
cblr-13858	1723	62	,	,	PUNCT
cblr-13858	1723	63	its	its	PRON
cblr-13858	1723	64	principals	principal	NOUN
cblr-13858	1723	65	,	,	PUNCT
cblr-13858	1723	66	the	the	DET
cblr-13858	1723	67	purpose	purpose	NOUN
cblr-13858	1723	68	of	of	ADP
cblr-13858	1723	69	the	the	DET
cblr-13858	1723	70	offering	offering	NOUN
cblr-13858	1723	71	,	,	PUNCT
cblr-13858	1723	72	the	the	DET
cblr-13858	1723	73	intended	intend	VERB
cblr-13858	1723	74	use	use	NOUN
cblr-13858	1723	75	of	of	ADP
cblr-13858	1723	76	proceeds	proceed	NOUN
cblr-13858	1723	77	,	,	PUNCT
cblr-13858	1723	78	and	and	CCONJ
cblr-13858	1723	79	the	the	DET
cblr-13858	1723	80	target	target	NOUN
cblr-13858	1723	81	offering	offering	NOUN
cblr-13858	1723	82	amount	amount	NOUN
cblr-13858	1723	83	.	.	PUNCT
cblr-13858	1724	1	in	in	ADP
cblr-13858	1724	2	addition	addition	NOUN
cblr-13858	1724	3	,	,	PUNCT
cblr-13858	1724	4	as	as	ADP
cblr-13858	1724	5	in	in	ADP
cblr-13858	1724	6	house	house	NOUN
cblr-13858	1724	7	bill	bill	NOUN
cblr-13858	1724	8	2930	2930	NUM
cblr-13858	1724	9	,	,	PUNCT
cblr-13858	1724	10	the	the	DET
cblr-13858	1724	11	intermediary	intermediary	NOUN
cblr-13858	1724	12	must	must	AUX
cblr-13858	1724	13	do	do	VERB
cblr-13858	1724	14	a	a	DET
cblr-13858	1724	15	background	background	NOUN
cblr-13858	1724	16	check	check	NOUN
cblr-13858	1724	17	on	on	ADP
cblr-13858	1724	18	the	the	DET
cblr-13858	1724	19	issuer	issuer	NOUN
cblr-13858	1724	20	's	's	PART
cblr-13858	1724	21	principals	principal	NOUN
cblr-13858	1724	22	and	and	CCONJ
cblr-13858	1724	23	take	take	VERB
cblr-13858	1724	24	"	"	PUNCT
cblr-13858	1724	25	reasonable	reasonable	ADJ
cblr-13858	1724	26	measures	measure	NOUN
cblr-13858	1724	27	to	to	PART
cblr-13858	1724	28	reduce	reduce	VERB
cblr-13858	1724	29	the	the	DET
cblr-13858	1724	30	risk	risk	NOUN
cblr-13858	1724	31	of	of	ADP
cblr-13858	1724	32	fraud	fraud	NOUN
cblr-13858	1724	33	.	.	PUNCT
cblr-13858	1725	1	"4	"4	ADJ
cblr-13858	1725	2	7	7	NUM
cblr-13858	1725	3	2	2	NUM
cblr-13858	1725	4	senate	senate	NOUN
cblr-13858	1725	5	bill	bill	NOUN
cblr-13858	1725	6	1791	1791	NUM
cblr-13858	1725	7	also	also	ADV
cblr-13858	1725	8	imposes	impose	VERB
cblr-13858	1725	9	various	various	ADJ
cblr-13858	1725	10	structural	structural	ADJ
cblr-13858	1725	11	requirements	requirement	NOUN
cblr-13858	1725	12	on	on	ADP
cblr-13858	1725	13	crowdfunding	crowdfunde	VERB
cblr-13858	1725	14	intermediaries	intermediary	NOUN
cblr-13858	1725	15	.	.	PUNCT
cblr-13858	1726	1	they	they	PRON
cblr-13858	1726	2	must47	must47	VERB
cblr-13858	1726	3	.	.	PUNCT
cblr-13858	1727	1	(	(	PUNCT
cblr-13858	1727	2	1	1	X
cblr-13858	1727	3	)	)	PUNCT
cblr-13858	1727	4	be	be	AUX
cblr-13858	1727	5	open	open	ADJ
cblr-13858	1727	6	to	to	ADP
cblr-13858	1727	7	the	the	DET
cblr-13858	1727	8	public	public	NOUN
cblr-13858	1727	9	and	and	CCONJ
cblr-13858	1727	10	provide	provide	VERB
cblr-13858	1727	11	investor	investor	NOUN
cblr-13858	1727	12	-	-	PUNCT
cblr-13858	1727	13	level	level	NOUN
cblr-13858	1727	14	access	access	NOUN
cblr-13858	1727	15	to	to	ADP
cblr-13858	1727	16	the	the	DET
cblr-13858	1727	17	sec	sec	PROPN
cblr-13858	1727	18	;	;	PUNCT
cblr-13858	1727	19	(	(	PUNCT
cblr-13858	1727	20	2	2	X
cblr-13858	1727	21	)	)	PUNCT
cblr-13858	1727	22	provide	provide	VERB
cblr-13858	1727	23	public	public	ADJ
cblr-13858	1727	24	communication	communication	NOUN
cblr-13858	1727	25	portals	portal	NOUN
cblr-13858	1727	26	for	for	ADP
cblr-13858	1727	27	investors	investor	NOUN
cblr-13858	1727	28	and	and	CCONJ
cblr-13858	1727	29	potential	potential	ADJ
cblr-13858	1727	30	investors	investor	NOUN
cblr-13858	1727	31	;	;	PUNCT
cblr-13858	1727	32	(	(	PUNCT
cblr-13858	1727	33	3	3	X
cblr-13858	1727	34	)	)	PUNCT
cblr-13858	1727	35	prohibit	prohibit	VERB
cblr-13858	1727	36	their	their	PRON
cblr-13858	1727	37	employees	employee	NOUN
cblr-13858	1727	38	from	from	ADP
cblr-13858	1727	39	investing	invest	VERB
cblr-13858	1727	40	in	in	ADP
cblr-13858	1727	41	the	the	DET
cblr-13858	1727	42	offerings	offering	NOUN
cblr-13858	1727	43	or	or	CCONJ
cblr-13858	1727	44	having	have	VERB
cblr-13858	1727	45	any	any	DET
cblr-13858	1727	46	financial	financial	ADJ
cblr-13858	1727	47	interest	interest	NOUN
cblr-13858	1727	48	in	in	ADP
cblr-13858	1727	49	issuers	issuer	NOUN
cblr-13858	1727	50	posting	post	VERB
cblr-13858	1727	51	offerings	offering	NOUN
cblr-13858	1727	52	;	;	PUNCT
cblr-13858	1727	53	(	(	PUNCT
cblr-13858	1727	54	4	4	X
cblr-13858	1727	55	)	)	PUNCT
cblr-13858	1727	56	refrain	refrain	VERB
cblr-13858	1727	57	from	from	ADP
cblr-13858	1727	58	offering	offer	VERB
cblr-13858	1727	59	investment	investment	NOUN
cblr-13858	1727	60	advice	advice	NOUN
cblr-13858	1727	61	or	or	CCONJ
cblr-13858	1727	62	recommendations	recommendation	NOUN
cblr-13858	1727	63	;	;	PUNCT
cblr-13858	1727	64	(	(	PUNCT
cblr-13858	1727	65	5	5	X
cblr-13858	1727	66	)	)	PUNCT
cblr-13858	1727	67	require	require	VERB
cblr-13858	1727	68	the	the	DET
cblr-13858	1727	69	issuer	issuer	NOUN
cblr-13858	1727	70	to	to	PART
cblr-13858	1727	71	state	state	VERB
cblr-13858	1727	72	a	a	DET
cblr-13858	1727	73	target	target	NOUN
cblr-13858	1727	74	offering	offering	NOUN
cblr-13858	1727	75	amount	amount	NOUN
cblr-13858	1727	76	and	and	CCONJ
cblr-13858	1727	77	withhold	withhold	VERB
cblr-13858	1727	78	funds	fund	NOUN
cblr-13858	1727	79	from	from	ADP
cblr-13858	1727	80	the	the	DET
cblr-13858	1727	81	issuer	issuer	NOUN
cblr-13858	1727	82	until	until	SCONJ
cblr-13858	1727	83	at	at	ADV
cblr-13858	1727	84	least	least	ADV
cblr-13858	1727	85	60	60	NUM
cblr-13858	1727	86	%	%	NOUN
cblr-13858	1727	87	of	of	ADP
cblr-13858	1727	88	that	that	DET
cblr-13858	1727	89	target	target	NOUN
cblr-13858	1727	90	amount	amount	NOUN
cblr-13858	1727	91	has	have	AUX
cblr-13858	1727	92	been	be	AUX
cblr-13858	1727	93	raised	raise	VERB
cblr-13858	1727	94	;	;	PUNCT
cblr-13858	1727	95	(	(	PUNCT
cblr-13858	1727	96	6	6	X
cblr-13858	1727	97	)	)	PUNCT
cblr-13858	1727	98	outsource	outsource	NOUN
cblr-13858	1727	99	cash	cash	NOUN
cblr-13858	1727	100	-	-	PUNCT
cblr-13858	1727	101	management	management	NOUN
cblr-13858	1727	102	functions	function	NOUN
cblr-13858	1727	103	to	to	ADP
cblr-13858	1727	104	a	a	DET
cblr-13858	1727	105	thirdparty	thirdparty	PROPN
cblr-13858	1727	106	custodian	custodian	NOUN
cblr-13858	1727	107	,	,	PUNCT
cblr-13858	1727	108	such	such	ADJ
cblr-13858	1727	109	as	as	ADP
cblr-13858	1727	110	a	a	DET
cblr-13858	1727	111	broker	broker	NOUN
cblr-13858	1727	112	or	or	CCONJ
cblr-13858	1727	113	an	an	DET
cblr-13858	1727	114	insured	insured	ADJ
cblr-13858	1727	115	depository	depository	NOUN
cblr-13858	1727	116	institution	institution	NOUN
cblr-13858	1727	117	;	;	PUNCT
cblr-13858	1727	118	(	(	PUNCT
cblr-13858	1727	119	7	7	X
cblr-13858	1727	120	)	)	PUNCT
cblr-13858	1727	121	maintain	maintain	VERB
cblr-13858	1727	122	such	such	ADJ
cblr-13858	1727	123	books	book	NOUN
cblr-13858	1727	124	and	and	CCONJ
cblr-13858	1727	125	records	record	NOUN
cblr-13858	1727	126	as	as	SCONJ
cblr-13858	1727	127	the	the	DET
cblr-13858	1727	128	sec	sec	PROPN
cblr-13858	1727	129	requires	require	VERB
cblr-13858	1727	130	;	;	PUNCT
cblr-13858	1727	131	and	and	CCONJ
cblr-13858	1727	132	(	(	PUNCT
cblr-13858	1727	133	8)	8)	NUM
cblr-13858	1727	134	provide	provide	VERB
cblr-13858	1727	135	a	a	DET
cblr-13858	1727	136	complaint	complaint	NOUN
cblr-13858	1727	137	-	-	PUNCT
cblr-13858	1727	138	resolution	resolution	NOUN
cblr-13858	1727	139	mechanism	mechanism	NOUN
cblr-13858	1727	140	for	for	ADP
cblr-13858	1727	141	investors	investor	NOUN
cblr-13858	1727	142	.	.	PUNCT
cblr-13858	1728	1	472	472	NUM
cblr-13858	1729	1	i	i	PRON
cblr-13858	1729	2	d.	d.	PROPN
cblr-13858	1729	3	§	§	PROPN
cblr-13858	1729	4	6	6	NUM
cblr-13858	1729	5	.	.	PUNCT
cblr-13858	1729	6	'	'	NUM
cblr-13858	1729	7	7	7	NUM
cblr-13858	1730	1	i	i	PRON
cblr-13858	1730	2	d.	d.	PROPN
cblr-13858	1730	3	no	no	INTJ
cblr-13858	1730	4	.	.	PROPN
cblr-13858	1731	1	1	1	NUM
cblr-13858	1731	2	:	:	SYM
cblr-13858	1731	3	1	1	NUM
cblr-13858	1731	4	]	]	PUNCT
cblr-13858	1731	5	cro	cro	NOUN
cblr-13858	1731	6	wdfunding	wdfunding	NOUN
cblr-13858	1731	7	and	and	CCONJ
cblr-13858	1731	8	securities	security	NOUN
cblr-13858	1731	9	la	la	PROPN
cblr-13858	1731	10	ws	ws	PROPN
cblr-13858	1731	11	93	93	NUM
cblr-13858	1731	12	columbia	columbia	PROPN
cblr-13858	1731	13	business	business	PROPN
cblr-13858	1731	14	la	la	PROPN
cblr-13858	1731	15	w	w	PROPN
cblr-13858	1731	16	review	review	PROPN
cblr-13858	1731	17	senate	senate	PROPN
cblr-13858	1731	18	bill	bill	PROPN
cblr-13858	1731	19	1791	1791	NUM
cblr-13858	1731	20	would	would	AUX
cblr-13858	1731	21	preempt	preempt	VERB
cblr-13858	1731	22	state	state	NOUN
cblr-13858	1731	23	offering	offering	NOUN
cblr-13858	1731	24	registration	registration	NOUN
cblr-13858	1731	25	requirements.4	requirements.4	NOUN
cblr-13858	1731	26	74	74	NUM
cblr-13858	1731	27	however	however	ADV
cblr-13858	1731	28	,	,	PUNCT
cblr-13858	1731	29	the	the	DET
cblr-13858	1731	30	issuer	issuer	NOUN
cblr-13858	1731	31	's	's	PART
cblr-13858	1731	32	state	state	NOUN
cblr-13858	1731	33	of	of	ADP
cblr-13858	1731	34	organization	organization	NOUN
cblr-13858	1731	35	and	and	CCONJ
cblr-13858	1731	36	any	any	DET
cblr-13858	1731	37	state	state	NOUN
cblr-13858	1731	38	in	in	ADP
cblr-13858	1731	39	which	which	PRON
cblr-13858	1731	40	the	the	DET
cblr-13858	1731	41	purchasers	purchaser	NOUN
cblr-13858	1731	42	of	of	ADP
cblr-13858	1731	43	50	50	NUM
cblr-13858	1731	44	%	%	NOUN
cblr-13858	1731	45	or	or	CCONJ
cblr-13858	1731	46	more	more	ADJ
cblr-13858	1731	47	of	of	ADP
cblr-13858	1731	48	the	the	DET
cblr-13858	1731	49	offering	offering	NOUN
cblr-13858	1731	50	amount	amount	NOUN
cblr-13858	1731	51	reside	reside	VERB
cblr-13858	1731	52	could	could	AUX
cblr-13858	1731	53	still	still	ADV
cblr-13858	1731	54	collect	collect	VERB
cblr-13858	1731	55	fees	fee	NOUN
cblr-13858	1731	56	and	and	CCONJ
cblr-13858	1731	57	require	require	VERB
cblr-13858	1731	58	that	that	SCONJ
cblr-13858	1731	59	any	any	DET
cblr-13858	1731	60	documents	document	NOUN
cblr-13858	1731	61	filed	file	VERB
cblr-13858	1731	62	with	with	ADP
cblr-13858	1731	63	the	the	DET
cblr-13858	1731	64	sec	sec	PROPN
cblr-13858	1731	65	also	also	ADV
cblr-13858	1731	66	be	be	AUX
cblr-13858	1731	67	filed	file	VERB
cblr-13858	1731	68	with	with	ADP
cblr-13858	1731	69	the	the	DET
cblr-13858	1731	70	state	state	NOUN
cblr-13858	1731	71	securities	security	NOUN
cblr-13858	1731	72	commission.47	commission.47	VERB
cblr-13858	1731	73	5	5	NUM
cblr-13858	1731	74	3	3	NUM
cblr-13858	1731	75	.	.	PUNCT
cblr-13858	1731	76	senate	senate	PROPN
cblr-13858	1731	77	bill	bill	PROPN
cblr-13858	1731	78	1970	1970	NUM
cblr-13858	1731	79	on	on	ADP
cblr-13858	1731	80	december	december	PROPN
cblr-13858	1731	81	8	8	NUM
cblr-13858	1731	82	,	,	PUNCT
cblr-13858	1731	83	2011	2011	NUM
cblr-13858	1731	84	,	,	PUNCT
cblr-13858	1731	85	senator	senator	PROPN
cblr-13858	1731	86	jeff	jeff	PROPN
cblr-13858	1731	87	merkley	merkley	PROPN
cblr-13858	1731	88	introduced	introduce	VERB
cblr-13858	1731	89	senate	senate	PROPN
cblr-13858	1731	90	bill	bill	PROPN
cblr-13858	1731	91	1970	1970	NUM
cblr-13858	1731	92	,	,	PUNCT
cblr-13858	1731	93	the	the	DET
cblr-13858	1731	94	capital	capital	NOUN
cblr-13858	1731	95	raising	raise	VERB
cblr-13858	1731	96	online	online	ADV
cblr-13858	1731	97	while	while	SCONJ
cblr-13858	1731	98	deterring	deter	VERB
cblr-13858	1731	99	fraud	fraud	NOUN
cblr-13858	1731	100	and	and	CCONJ
cblr-13858	1731	101	unethical	unethical	ADJ
cblr-13858	1731	102	non	non	ADJ
cblr-13858	1731	103	-	-	ADJ
cblr-13858	1731	104	disclosure	disclosure	ADJ
cblr-13858	1731	105	act	act	NOUN
cblr-13858	1731	106	of	of	ADP
cblr-13858	1731	107	20	20	NUM
cblr-13858	1731	108	11.476	11.476	NUM
cblr-13858	1731	109	senator	senator	NOUN
cblr-13858	1731	110	merkley	merkley	PROPN
cblr-13858	1731	111	's	's	PART
cblr-13858	1731	112	bill	bill	NOUN
cblr-13858	1731	113	also	also	ADV
cblr-13858	1731	114	incorporates	incorporate	VERB
cblr-13858	1731	115	several	several	ADJ
cblr-13858	1731	116	of	of	ADP
cblr-13858	1731	117	the	the	DET
cblr-13858	1731	118	policy	policy	NOUN
cblr-13858	1731	119	recommendations	recommendation	NOUN
cblr-13858	1731	120	made	make	VERB
cblr-13858	1731	121	in	in	ADP
cblr-13858	1731	122	this	this	DET
cblr-13858	1731	123	article.477	article.477	PROPN
cblr-13858	1731	124	senate	senate	PROPN
cblr-13858	1731	125	bill	bill	PROPN
cblr-13858	1731	126	1970	1970	NUM
cblr-13858	1731	127	requires	require	VERB
cblr-13858	1731	128	that	that	SCONJ
cblr-13858	1731	129	the	the	DET
cblr-13858	1731	130	securities	security	NOUN
cblr-13858	1731	131	be	be	AUX
cblr-13858	1731	132	sold	sell	VERB
cblr-13858	1731	133	through	through	ADP
cblr-13858	1731	134	a	a	DET
cblr-13858	1731	135	broker	broker	NOUN
cblr-13858	1731	136	or	or	CCONJ
cblr-13858	1731	137	an	an	DET
cblr-13858	1731	138	intermediary	intermediary	NOUN
cblr-13858	1731	139	that	that	PRON
cblr-13858	1731	140	meets	meet	VERB
cblr-13858	1731	141	specific	specific	ADJ
cblr-13858	1731	142	criteria.4	criteria.4	PROPN
cblr-13858	1731	143	78	78	NUM
cblr-13858	1731	144	the	the	DET
cblr-13858	1731	145	bill	bill	NOUN
cblr-13858	1731	146	makes	make	VERB
cblr-13858	1731	147	it	it	PRON
cblr-13858	1731	148	very	very	ADV
cblr-13858	1731	149	difficult	difficult	ADJ
cblr-13858	1731	150	for	for	SCONJ
cblr-13858	1731	151	a	a	DET
cblr-13858	1731	152	non	non	ADJ
cblr-13858	1731	153	-	-	NOUN
cblr-13858	1731	154	broker	broker	NOUN
cblr-13858	1731	155	to	to	PART
cblr-13858	1731	156	facilitate	facilitate	VERB
cblr-13858	1731	157	crowdfunding	crowdfunding	NOUN
cblr-13858	1731	158	.	.	PUNCT
cblr-13858	1732	1	non	non	ADJ
cblr-13858	1732	2	-	-	ADJ
cblr-13858	1732	3	broker	broker	ADJ
cblr-13858	1732	4	intermediaries	intermediary	NOUN
cblr-13858	1732	5	must	must	AUX
cblr-13858	1732	6	register	register	VERB
cblr-13858	1732	7	with	with	ADP
cblr-13858	1732	8	the	the	DET
cblr-13858	1732	9	sec	sec	PROPN
cblr-13858	1732	10	as	as	ADP
cblr-13858	1732	11	"	"	PUNCT
cblr-13858	1732	12	funding	fund	VERB
cblr-13858	1732	13	portals,"479	portals,"479	PROPN
cblr-13858	1732	14	and	and	CCONJ
cblr-13858	1732	15	are	be	AUX
cblr-13858	1732	16	subject	subject	ADJ
cblr-13858	1732	17	to	to	ADP
cblr-13858	1732	18	regulation	regulation	NOUN
cblr-13858	1732	19	by	by	ADP
cblr-13858	1732	20	the	the	DET
cblr-13858	1732	21	sec.4	sec.4	PROPN
cblr-13858	1732	22	80	80	NUM
cblr-13858	1732	23	these	these	DET
cblr-13858	1732	24	funding	funding	NOUN
cblr-13858	1732	25	portals	portal	NOUN
cblr-13858	1732	26	may	may	AUX
cblr-13858	1732	27	not	not	PART
cblr-13858	1732	28	solicit	solicit	VERB
cblr-13858	1732	29	purchases	purchase	NOUN
cblr-13858	1732	30	or	or	CCONJ
cblr-13858	1732	31	sales	sale	NOUN
cblr-13858	1732	32	and	and	CCONJ
cblr-13858	1732	33	may	may	AUX
cblr-13858	1732	34	not	not	PART
cblr-13858	1732	35	handle	handle	VERB
cblr-13858	1732	36	investor	investor	NOUN
cblr-13858	1732	37	funds	fund	NOUN
cblr-13858	1732	38	or	or	CCONJ
cblr-13858	1732	39	securities	security	NOUN
cblr-13858	1732	40	.	.	PUNCT
cblr-13858	1733	1	48	48	NUM
cblr-13858	1733	2	1	1	NUM
cblr-13858	1733	3	they	they	PRON
cblr-13858	1733	4	also	also	ADV
cblr-13858	1733	5	may	may	AUX
cblr-13858	1733	6	not	not	PART
cblr-13858	1733	7	compensate	compensate	VERB
cblr-13858	1733	8	employees	employee	NOUN
cblr-13858	1733	9	or	or	CCONJ
cblr-13858	1733	10	third	third	ADJ
cblr-13858	1733	11	parties	party	NOUN
cblr-13858	1733	12	for	for	ADP
cblr-13858	1733	13	solicitation	solicitation	NOUN
cblr-13858	1733	14	or	or	CCONJ
cblr-13858	1733	15	based	base	VERB
cblr-13858	1733	16	on	on	ADP
cblr-13858	1733	17	the	the	DET
cblr-13858	1733	18	sale	sale	NOUN
cblr-13858	1733	19	of	of	ADP
cblr-13858	1733	20	securities	security	NOUN
cblr-13858	1733	21	on	on	ADP
cblr-13858	1733	22	the	the	DET
cblr-13858	1733	23	site	site	NOUN
cblr-13858	1733	24	.	.	PUNCT
cblr-13858	1734	1	4	4	X
cblr-13858	1734	2	"	"	PUNCT
cblr-13858	1734	3	finally	finally	ADV
cblr-13858	1734	4	,	,	PUNCT
cblr-13858	1734	5	funding	funding	NOUN
cblr-13858	1734	6	portals	portal	NOUN
cblr-13858	1734	7	may	may	AUX
cblr-13858	1734	8	not	not	PART
cblr-13858	1734	9	offer	offer	VERB
cblr-13858	1734	10	investment	investment	NOUN
cblr-13858	1734	11	advice	advice	NOUN
cblr-13858	1734	12	or	or	CCONJ
cblr-13858	1734	13	recommendations	recommendation	NOUN
cblr-13858	1734	14	to	to	ADP
cblr-13858	1734	15	investors.4	investors.4	PROPN
cblr-13858	1734	16	83	83	NUM
cblr-13858	1734	17	4	4	NUM
cblr-13858	1734	18	'	'	PUNCT
cblr-13858	1734	19	i	i	PRON
cblr-13858	1734	20	d.	d.	PROPN
cblr-13858	1734	21	§	§	PROPN
cblr-13858	1734	22	4	4	NUM
cblr-13858	1734	23	.	.	X
cblr-13858	1734	24	47	47	NUM
cblr-13858	1735	1	i	i	PRON
cblr-13858	1735	2	d.	d.	PROPN
cblr-13858	1735	3	§	§	PROPN
cblr-13858	1735	4	6	6	NUM
cblr-13858	1735	5	.	.	X
cblr-13858	1735	6	476	476	NUM
cblr-13858	1735	7	capital	capital	NOUN
cblr-13858	1735	8	raising	raise	VERB
cblr-13858	1735	9	online	online	ADV
cblr-13858	1735	10	while	while	SCONJ
cblr-13858	1735	11	deterring	deter	VERB
cblr-13858	1735	12	fraud	fraud	NOUN
cblr-13858	1735	13	and	and	CCONJ
cblr-13858	1735	14	unethical	unethical	ADJ
cblr-13858	1735	15	nondisclosure	nondisclosure	NOUN
cblr-13858	1735	16	act	act	NOUN
cblr-13858	1735	17	of	of	ADP
cblr-13858	1735	18	2011	2011	NUM
cblr-13858	1735	19	,	,	PUNCT
cblr-13858	1735	20	s.	s.	PROPN
cblr-13858	1735	21	1970	1970	NUM
cblr-13858	1735	22	,	,	PUNCT
cblr-13858	1735	23	112th	112th	PROPN
cblr-13858	1735	24	cong	cong	NOUN
cblr-13858	1735	25	.	.	PUNCT
cblr-13858	1736	1	(	(	PUNCT
cblr-13858	1736	2	2011	2011	NUM
cblr-13858	1736	3	)	)	PUNCT
cblr-13858	1736	4	.	.	PUNCT
cblr-13858	1737	1	4	4	NUM
cblr-13858	1737	2	the	the	DET
cblr-13858	1737	3	author	author	NOUN
cblr-13858	1737	4	had	have	VERB
cblr-13858	1737	5	an	an	DET
cblr-13858	1737	6	extensive	extensive	ADJ
cblr-13858	1737	7	discussion	discussion	NOUN
cblr-13858	1737	8	with	with	ADP
cblr-13858	1737	9	members	member	NOUN
cblr-13858	1737	10	of	of	ADP
cblr-13858	1737	11	senator	senator	PROPN
cblr-13858	1737	12	merkley	merkley	PROPN
cblr-13858	1737	13	's	's	PART
cblr-13858	1737	14	staff	staff	NOUN
cblr-13858	1737	15	prior	prior	ADV
cblr-13858	1737	16	to	to	ADP
cblr-13858	1737	17	the	the	DET
cblr-13858	1737	18	introduction	introduction	NOUN
cblr-13858	1737	19	of	of	ADP
cblr-13858	1737	20	senator	senator	PROPN
cblr-13858	1737	21	merkley	merkley	PROPN
cblr-13858	1737	22	's	's	PART
cblr-13858	1737	23	bill	bill	NOUN
cblr-13858	1737	24	.	.	PUNCT
cblr-13858	1738	1	however	however	ADV
cblr-13858	1738	2	,	,	PUNCT
cblr-13858	1738	3	the	the	DET
cblr-13858	1738	4	author	author	NOUN
cblr-13858	1738	5	was	be	AUX
cblr-13858	1738	6	not	not	PART
cblr-13858	1738	7	directly	directly	ADV
cblr-13858	1738	8	involved	involve	VERB
cblr-13858	1738	9	in	in	ADP
cblr-13858	1738	10	drafting	draft	VERB
cblr-13858	1738	11	the	the	DET
cblr-13858	1738	12	bill	bill	NOUN
cblr-13858	1738	13	.	.	PUNCT
cblr-13858	1739	1	478	478	NUM
cblr-13858	1739	2	s.	s.	PROPN
cblr-13858	1739	3	1970	1970	NUM
cblr-13858	1739	4	§	§	PROPN
cblr-13858	1739	5	2	2	NUM
cblr-13858	1739	6	.	.	X
cblr-13858	1739	7	47	47	NUM
cblr-13858	1740	1	i	i	PRON
cblr-13858	1740	2	d.	d.	PROPN
cblr-13858	1740	3	480	480	NUM
cblr-13858	1741	1	i	i	PROPN
cblr-13858	1741	2	d.	d.	PROPN
cblr-13858	1741	3	§	§	PROPN
cblr-13858	1741	4	4	4	NUM
cblr-13858	1741	5	.	.	NUM
cblr-13858	1741	6	48	48	NUM
cblr-13858	1742	1	i	i	PROPN
cblr-13858	1742	2	d.	d.	PROPN
cblr-13858	1742	3	482	482	NUM
cblr-13858	1742	4	i	i	PRON
cblr-13858	1742	5	d.	d.	PROPN
cblr-13858	1742	6	48	48	NUM
cblr-13858	1743	1	i	i	PRON
cblr-13858	1743	2	d.	d.	PROPN
cblr-13858	1743	3	94	94	NUM
cblr-13858	1744	1	[	[	X
cblr-13858	1744	2	vol	vol	NOUN
cblr-13858	1744	3	.	.	PUNCT
cblr-13858	1744	4	2012	2012	NUM
cblr-13858	1744	5	senate	senate	PROPN
cblr-13858	1744	6	bill	bill	PROPN
cblr-13858	1744	7	1970	1970	NUM
cblr-13858	1744	8	caps	cap	VERB
cblr-13858	1744	9	the	the	DET
cblr-13858	1744	10	annual	annual	ADJ
cblr-13858	1744	11	offering	offering	NOUN
cblr-13858	1744	12	amount	amount	NOUN
cblr-13858	1744	13	at	at	ADP
cblr-13858	1744	14	$	$	SYM
cblr-13858	1744	15	1	1	NUM
cblr-13858	1744	16	million,484	million,484	NOUN
cblr-13858	1744	17	and	and	CCONJ
cblr-13858	1744	18	also	also	ADV
cblr-13858	1744	19	includes	include	VERB
cblr-13858	1744	20	investor	investor	NOUN
cblr-13858	1744	21	limits	limit	NOUN
cblr-13858	1744	22	,	,	PUNCT
cblr-13858	1744	23	but	but	CCONJ
cblr-13858	1744	24	the	the	DET
cblr-13858	1744	25	investor	investor	NOUN
cblr-13858	1744	26	limits	limit	NOUN
cblr-13858	1744	27	are	be	AUX
cblr-13858	1744	28	more	more	ADV
cblr-13858	1744	29	complicated	complicated	ADJ
cblr-13858	1744	30	than	than	ADP
cblr-13858	1744	31	in	in	ADP
cblr-13858	1744	32	the	the	DET
cblr-13858	1744	33	other	other	ADJ
cblr-13858	1744	34	bills	bill	NOUN
cblr-13858	1744	35	.	.	PUNCT
cblr-13858	1745	1	for	for	ADP
cblr-13858	1745	2	a	a	DET
cblr-13858	1745	3	single	single	ADJ
cblr-13858	1745	4	offering	offering	NOUN
cblr-13858	1745	5	,	,	PUNCT
cblr-13858	1745	6	the	the	DET
cblr-13858	1745	7	limit	limit	NOUN
cblr-13858	1745	8	is	be	AUX
cblr-13858	1745	9	the	the	DET
cblr-13858	1745	10	greater	great	ADJ
cblr-13858	1745	11	of	of	ADP
cblr-13858	1745	12	$	$	SYM
cblr-13858	1745	13	500	500	NUM
cblr-13858	1745	14	or	or	CCONJ
cblr-13858	1745	15	an	an	DET
cblr-13858	1745	16	amount	amount	NOUN
cblr-13858	1745	17	that	that	PRON
cblr-13858	1745	18	depends	depend	VERB
cblr-13858	1745	19	on	on	ADP
cblr-13858	1745	20	the	the	DET
cblr-13858	1745	21	investor	investor	NOUN
cblr-13858	1745	22	's	's	PART
cblr-13858	1745	23	annual	annual	ADJ
cblr-13858	1745	24	income.485	income.485	NOUN
cblr-13858	1745	25	if	if	SCONJ
cblr-13858	1745	26	the	the	DET
cblr-13858	1745	27	investor	investor	NOUN
cblr-13858	1745	28	's	's	PART
cblr-13858	1745	29	annual	annual	ADJ
cblr-13858	1745	30	income	income	NOUN
cblr-13858	1745	31	is	be	AUX
cblr-13858	1745	32	between	between	ADP
cblr-13858	1745	33	$	$	SYM
cblr-13858	1745	34	50,000	50,000	NUM
cblr-13858	1745	35	and	and	CCONJ
cblr-13858	1745	36	$	$	SYM
cblr-13858	1745	37	100,000	100,000	NUM
cblr-13858	1745	38	,	,	PUNCT
cblr-13858	1745	39	the	the	DET
cblr-13858	1745	40	limit	limit	NOUN
cblr-13858	1745	41	is	be	AUX
cblr-13858	1745	42	1	1	NUM
cblr-13858	1745	43	%	%	NOUN
cblr-13858	1745	44	of	of	ADP
cblr-13858	1745	45	income.48	income.48	PRON
cblr-13858	1745	46	6	6	NUM
cblr-13858	1745	47	if	if	SCONJ
cblr-13858	1745	48	the	the	DET
cblr-13858	1745	49	investor	investor	NOUN
cblr-13858	1745	50	's	's	PART
cblr-13858	1745	51	annual	annual	ADJ
cblr-13858	1745	52	income	income	NOUN
cblr-13858	1745	53	is	be	AUX
cblr-13858	1745	54	more	more	ADJ
cblr-13858	1745	55	than	than	ADP
cblr-13858	1745	56	$	$	SYM
cblr-13858	1745	57	100,000	100,000	NUM
cblr-13858	1745	58	,	,	PUNCT
cblr-13858	1745	59	the	the	DET
cblr-13858	1745	60	limit	limit	NOUN
cblr-13858	1745	61	is	be	AUX
cblr-13858	1745	62	2	2	NUM
cblr-13858	1745	63	%	%	NOUN
cblr-13858	1745	64	of	of	ADP
cblr-13858	1745	65	income	income	NOUN
cblr-13858	1745	66	.	.	PUNCT
cblr-13858	1746	1	487	487	NUM
cblr-13858	1746	2	the	the	DET
cblr-13858	1746	3	bill	bill	NOUN
cblr-13858	1746	4	provides	provide	VERB
cblr-13858	1746	5	no	no	DET
cblr-13858	1746	6	alternative	alternative	ADJ
cblr-13858	1746	7	limit	limit	NOUN
cblr-13858	1746	8	for	for	ADP
cblr-13858	1746	9	investors	investor	NOUN
cblr-13858	1746	10	whose	whose	DET
cblr-13858	1746	11	income	income	NOUN
cblr-13858	1746	12	is	be	AUX
cblr-13858	1746	13	$	$	SYM
cblr-13858	1746	14	50,000	50,000	NUM
cblr-13858	1746	15	or	or	CCONJ
cblr-13858	1746	16	less	less	ADJ
cblr-13858	1746	17	,	,	PUNCT
cblr-13858	1746	18	so	so	ADV
cblr-13858	1746	19	presumably	presumably	ADV
cblr-13858	1746	20	their	their	PRON
cblr-13858	1746	21	investment	investment	NOUN
cblr-13858	1746	22	limit	limit	NOUN
cblr-13858	1746	23	is	be	AUX
cblr-13858	1746	24	the	the	DET
cblr-13858	1746	25	$	$	SYM
cblr-13858	1746	26	500	500	NUM
cblr-13858	1746	27	alternative	alternative	NOUN
cblr-13858	1746	28	.	.	PUNCT
cblr-13858	1747	1	these	these	DET
cblr-13858	1747	2	limits	limit	NOUN
cblr-13858	1747	3	are	be	AUX
cblr-13858	1747	4	for	for	ADP
cblr-13858	1747	5	a	a	DET
cblr-13858	1747	6	twelve	twelve	NUM
cblr-13858	1747	7	-	-	PUNCT
cblr-13858	1747	8	month	month	NOUN
cblr-13858	1747	9	period	period	NOUN
cblr-13858	1747	10	for	for	ADP
cblr-13858	1747	11	a	a	DET
cblr-13858	1747	12	single	single	ADJ
cblr-13858	1747	13	issuer.488	issuer.488	NOUN
cblr-13858	1747	14	the	the	DET
cblr-13858	1747	15	bill	bill	NOUN
cblr-13858	1747	16	also	also	ADV
cblr-13858	1747	17	includes	include	VERB
cblr-13858	1747	18	cumulative	cumulative	ADJ
cblr-13858	1747	19	annual	annual	ADJ
cblr-13858	1747	20	limits	limit	NOUN
cblr-13858	1747	21	for	for	ADP
cblr-13858	1747	22	all	all	DET
cblr-13858	1747	23	crowdfunded	crowdfunde	VERB
cblr-13858	1747	24	offerings	offering	NOUN
cblr-13858	1747	25	in	in	ADP
cblr-13858	1747	26	which	which	PRON
cblr-13858	1747	27	a	a	DET
cblr-13858	1747	28	given	give	VERB
cblr-13858	1747	29	investor	investor	NOUN
cblr-13858	1747	30	participates	participate	VERB
cblr-13858	1747	31	.	.	PUNCT
cblr-13858	1747	32	"	"	PUNCT
cblr-13858	1748	1	9	9	NUM
cblr-13858	1748	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1748	3	intermediaries	intermediary	NOUN
cblr-13858	1748	4	are	be	AUX
cblr-13858	1748	5	required	require	VERB
cblr-13858	1748	6	to	to	PART
cblr-13858	1748	7	take	take	VERB
cblr-13858	1748	8	such	such	ADJ
cblr-13858	1748	9	steps	step	NOUN
cblr-13858	1748	10	as	as	SCONJ
cblr-13858	1748	11	the	the	DET
cblr-13858	1748	12	sec	sec	PROPN
cblr-13858	1748	13	deems	deem	VERB
cblr-13858	1748	14	appropriate	appropriate	ADJ
cblr-13858	1748	15	to	to	PART
cblr-13858	1748	16	verify	verify	VERB
cblr-13858	1748	17	that	that	SCONJ
cblr-13858	1748	18	no	no	DET
cblr-13858	1748	19	investor	investor	NOUN
cblr-13858	1748	20	has	have	AUX
cblr-13858	1748	21	purchased	purchase	VERB
cblr-13858	1748	22	securities	security	NOUN
cblr-13858	1748	23	from	from	ADP
cblr-13858	1748	24	all	all	DET
cblr-13858	1748	25	crowdfunding	crowdfunde	VERB
cblr-13858	1748	26	issuers	issuer	NOUN
cblr-13858	1748	27	that	that	PRON
cblr-13858	1748	28	exceed	exceed	VERB
cblr-13858	1748	29	the	the	DET
cblr-13858	1748	30	greater	great	ADJ
cblr-13858	1748	31	of	of	ADP
cblr-13858	1748	32	$	$	SYM
cblr-13858	1748	33	2,000	2,000	NUM
cblr-13858	1748	34	or	or	CCONJ
cblr-13858	1748	35	an	an	DET
cblr-13858	1748	36	income	income	NOUN
cblr-13858	1748	37	-	-	PUNCT
cblr-13858	1748	38	based	base	VERB
cblr-13858	1748	39	limit	limit	NOUN
cblr-13858	1748	40	,	,	PUNCT
cblr-13858	1748	41	in	in	ADP
cblr-13858	1748	42	any	any	DET
cblr-13858	1748	43	twelve	twelve	NUM
cblr-13858	1748	44	-	-	PUNCT
cblr-13858	1748	45	month	month	NOUN
cblr-13858	1748	46	period	period	NOUN
cblr-13858	1748	47	.	.	PUNCT
cblr-13858	1749	1	49	49	NUM
cblr-13858	1749	2	0	0	NUM
cblr-13858	1750	1	the	the	DET
cblr-13858	1750	2	income	income	NOUN
cblr-13858	1750	3	limit	limit	NOUN
cblr-13858	1750	4	would	would	AUX
cblr-13858	1750	5	be	be	AUX
cblr-13858	1750	6	4	4	NUM
cblr-13858	1750	7	%	%	NOUN
cblr-13858	1750	8	of	of	ADP
cblr-13858	1750	9	income	income	NOUN
cblr-13858	1750	10	for	for	ADP
cblr-13858	1750	11	those	those	DET
cblr-13858	1750	12	investors	investor	NOUN
cblr-13858	1750	13	in	in	ADP
cblr-13858	1750	14	the	the	DET
cblr-13858	1750	15	$	$	SYM
cblr-13858	1750	16	50,000-$100,000	50,000-$100,000	NUM
cblr-13858	1750	17	range	range	NOUN
cblr-13858	1750	18	and	and	CCONJ
cblr-13858	1750	19	8	8	NUM
cblr-13858	1750	20	%	%	NOUN
cblr-13858	1750	21	of	of	ADP
cblr-13858	1750	22	income	income	NOUN
cblr-13858	1750	23	for	for	ADP
cblr-13858	1750	24	those	those	PRON
cblr-13858	1750	25	with	with	ADP
cblr-13858	1750	26	incomes	income	NOUN
cblr-13858	1750	27	greater	great	ADJ
cblr-13858	1750	28	than	than	ADP
cblr-13858	1750	29	$	$	SYM
cblr-13858	1750	30	100,000.491	100,000.491	NUM
cblr-13858	1750	31	senate	senate	PROPN
cblr-13858	1750	32	bill	bill	PROPN
cblr-13858	1750	33	1970	1970	NUM
cblr-13858	1750	34	does	do	AUX
cblr-13858	1750	35	not	not	PART
cblr-13858	1750	36	allow	allow	VERB
cblr-13858	1750	37	issuers	issuer	NOUN
cblr-13858	1750	38	to	to	PART
cblr-13858	1750	39	advertise	advertise	VERB
cblr-13858	1750	40	their	their	PRON
cblr-13858	1750	41	offerings	offering	NOUN
cblr-13858	1750	42	,	,	PUNCT
cblr-13858	1750	43	except	except	SCONJ
cblr-13858	1750	44	to	to	PART
cblr-13858	1750	45	direct	direct	VERB
cblr-13858	1750	46	people	people	NOUN
cblr-13858	1750	47	to	to	ADP
cblr-13858	1750	48	the	the	DET
cblr-13858	1750	49	intermediary,49	intermediary,49	NOUN
cblr-13858	1750	50	2	2	NUM
cblr-13858	1750	51	and	and	CCONJ
cblr-13858	1750	52	also	also	ADV
cblr-13858	1750	53	imposes	impose	VERB
cblr-13858	1750	54	fairly	fairly	ADV
cblr-13858	1750	55	substantial	substantial	ADJ
cblr-13858	1750	56	filing	filing	NOUN
cblr-13858	1750	57	and	and	CCONJ
cblr-13858	1750	58	disclosure	disclosure	NOUN
cblr-13858	1750	59	requirements	requirement	NOUN
cblr-13858	1750	60	on	on	ADP
cblr-13858	1750	61	issuers	issuer	NOUN
cblr-13858	1750	62	.	.	PUNCT
cblr-13858	1751	1	crowdfunding	crowdfunde	VERB
cblr-13858	1751	2	issuers	issuer	NOUN
cblr-13858	1751	3	must	must	AUX
cblr-13858	1751	4	file	file	VERB
cblr-13858	1751	5	with	with	ADP
cblr-13858	1751	6	the	the	DET
cblr-13858	1751	7	sec	sec	PROPN
cblr-13858	1751	8	,	,	PUNCT
cblr-13858	1751	9	and	and	CCONJ
cblr-13858	1751	10	must	must	AUX
cblr-13858	1751	11	provide	provide	VERB
cblr-13858	1751	12	to	to	ADP
cblr-13858	1751	13	investors	investor	NOUN
cblr-13858	1751	14	and	and	CCONJ
cblr-13858	1751	15	potential	potential	ADJ
cblr-13858	1751	16	investors	investor	NOUN
cblr-13858	1751	17	,	,	PUNCT
cblr-13858	1751	18	among	among	ADP
cblr-13858	1751	19	other	other	ADJ
cblr-13858	1751	20	information4	information4	ADJ
cblr-13858	1751	21	1	1	NUM
cblr-13858	1751	22	:	:	SYM
cblr-13858	1751	23	484	484	NUM
cblr-13858	1752	1	i	i	NOUN
cblr-13858	1752	2	d.	d.	PROPN
cblr-13858	1752	3	§	§	PROPN
cblr-13858	1752	4	2	2	NUM
cblr-13858	1752	5	.	.	X
cblr-13858	1752	6	485	485	NUM
cblr-13858	1752	7	i	i	NOUN
cblr-13858	1752	8	d.	d.	PROPN
cblr-13858	1752	9	486	486	NUM
cblr-13858	1753	1	i	i	NOUN
cblr-13858	1753	2	d.	d.	PROPN
cblr-13858	1753	3	4	4	NUM
cblr-13858	1753	4	i	i	PROPN
cblr-13858	1753	5	d.	d.	PROPN
cblr-13858	1753	6	488	488	NUM
cblr-13858	1754	1	i	i	PRON
cblr-13858	1754	2	d.	d.	PROPN
cblr-13858	1754	3	4	4	NUM
cblr-13858	1754	4	i	i	PROPN
cblr-13858	1754	5	d.	d.	PROPN
cblr-13858	1754	6	490	490	NUM
cblr-13858	1755	1	i	i	PROPN
cblr-13858	1755	2	d.	d.	PROPN
cblr-13858	1755	3	491	491	NUM
cblr-13858	1756	1	i	i	PRON
cblr-13858	1756	2	d.	d.	PROPN
cblr-13858	1756	3	492	492	NUM
cblr-13858	1757	1	i	i	PRON
cblr-13858	1757	2	d.	d.	PROPN
cblr-13858	1757	3	493	493	NUM
cblr-13858	1758	1	i	i	PROPN
cblr-13858	1758	2	d.	d.	PROPN
cblr-13858	1758	3	cro	cro	PROPN
cblr-13858	1758	4	wdfunding	wdfunding	NOUN
cblr-13858	1758	5	and	and	CCONJ
cblr-13858	1758	6	securities	security	NOUN
cblr-13858	1758	7	la	la	PRON
cblr-13858	1758	8	ws	ws	PROPN
cblr-13858	1758	9	95no	95no	PROPN
cblr-13858	1758	10	.	.	PUNCT
cblr-13858	1759	1	i:1	i:1	PROPN
cblr-13858	1759	2	]	]	PUNCT
cblr-13858	1759	3	)	)	PUNCT
cblr-13858	1759	4	columbia	columbia	PROPN
cblr-13858	1759	5	business	business	PROPN
cblr-13858	1759	6	law	law	PROPN
cblr-13858	1759	7	review	review	NOUN
cblr-13858	1759	8	(	(	PUNCT
cblr-13858	1759	9	1	1	X
cblr-13858	1759	10	)	)	PUNCT
cblr-13858	1759	11	the	the	DET
cblr-13858	1759	12	names	name	NOUN
cblr-13858	1759	13	of	of	ADP
cblr-13858	1759	14	the	the	DET
cblr-13858	1759	15	issuer	issuer	NOUN
cblr-13858	1759	16	's	's	PART
cblr-13858	1759	17	officers	officer	NOUN
cblr-13858	1759	18	and	and	CCONJ
cblr-13858	1759	19	directors	director	NOUN
cblr-13858	1759	20	,	,	PUNCT
cblr-13858	1759	21	and	and	CCONJ
cblr-13858	1759	22	of	of	ADP
cblr-13858	1759	23	persons	person	NOUN
cblr-13858	1759	24	owning	own	VERB
cblr-13858	1759	25	more	more	ADJ
cblr-13858	1759	26	than	than	ADP
cblr-13858	1759	27	20	20	NUM
cblr-13858	1759	28	%	%	NOUN
cblr-13858	1759	29	of	of	ADP
cblr-13858	1759	30	the	the	DET
cblr-13858	1759	31	issuer	issuer	NOUN
cblr-13858	1759	32	's	's	PART
cblr-13858	1759	33	shares	share	NOUN
cblr-13858	1759	34	;	;	PUNCT
cblr-13858	1759	35	(	(	PUNCT
cblr-13858	1759	36	2	2	X
cblr-13858	1759	37	)	)	PUNCT
cblr-13858	1759	38	a	a	DET
cblr-13858	1759	39	description	description	NOUN
cblr-13858	1759	40	of	of	ADP
cblr-13858	1759	41	the	the	DET
cblr-13858	1759	42	business	business	NOUN
cblr-13858	1759	43	of	of	ADP
cblr-13858	1759	44	the	the	DET
cblr-13858	1759	45	issuer	issuer	NOUN
cblr-13858	1759	46	and	and	CCONJ
cblr-13858	1759	47	its	its	PRON
cblr-13858	1759	48	anticipated	anticipated	ADJ
cblr-13858	1759	49	business	business	NOUN
cblr-13858	1759	50	plan	plan	NOUN
cblr-13858	1759	51	;	;	PUNCT
cblr-13858	1759	52	(	(	PUNCT
cblr-13858	1759	53	3	3	X
cblr-13858	1759	54	)	)	PUNCT
cblr-13858	1759	55	financial	financial	ADJ
cblr-13858	1759	56	statements	statement	NOUN
cblr-13858	1759	57	reviewed	review	VERB
cblr-13858	1759	58	by	by	ADP
cblr-13858	1759	59	an	an	DET
cblr-13858	1759	60	independent	independent	ADJ
cblr-13858	1759	61	public	public	ADJ
cblr-13858	1759	62	accountant	accountant	NOUN
cblr-13858	1759	63	,	,	PUNCT
cblr-13858	1759	64	and	and	CCONJ
cblr-13858	1759	65	audited	audit	VERB
cblr-13858	1759	66	for	for	ADP
cblr-13858	1759	67	offerings	offering	NOUN
cblr-13858	1759	68	of	of	ADP
cblr-13858	1759	69	more	more	ADJ
cblr-13858	1759	70	than	than	ADP
cblr-13858	1759	71	$	$	SYM
cblr-13858	1759	72	500,000	500,000	NUM
cblr-13858	1759	73	;	;	PUNCT
cblr-13858	1759	74	(	(	PUNCT
cblr-13858	1759	75	4	4	X
cblr-13858	1759	76	)	)	PUNCT
cblr-13858	1759	77	a	a	DET
cblr-13858	1759	78	description	description	NOUN
cblr-13858	1759	79	of	of	ADP
cblr-13858	1759	80	the	the	DET
cblr-13858	1759	81	purpose	purpose	NOUN
cblr-13858	1759	82	of	of	ADP
cblr-13858	1759	83	the	the	DET
cblr-13858	1759	84	offering	offering	NOUN
cblr-13858	1759	85	and	and	CCONJ
cblr-13858	1759	86	the	the	DET
cblr-13858	1759	87	intended	intend	VERB
cblr-13858	1759	88	use	use	NOUN
cblr-13858	1759	89	of	of	ADP
cblr-13858	1759	90	the	the	DET
cblr-13858	1759	91	proceeds	proceed	NOUN
cblr-13858	1759	92	;	;	PUNCT
cblr-13858	1759	93	and	and	CCONJ
cblr-13858	1759	94	(	(	PUNCT
cblr-13858	1759	95	5	5	NUM
cblr-13858	1759	96	)	)	PUNCT
cblr-13858	1759	97	"	"	PUNCT
cblr-13858	1759	98	a	a	DET
cblr-13858	1759	99	description	description	NOUN
cblr-13858	1759	100	of	of	ADP
cblr-13858	1759	101	the	the	DET
cblr-13858	1759	102	ownership	ownership	NOUN
cblr-13858	1759	103	and	and	CCONJ
cblr-13858	1759	104	capital	capital	NOUN
cblr-13858	1759	105	structure	structure	NOUN
cblr-13858	1759	106	of	of	ADP
cblr-13858	1759	107	the	the	DET
cblr-13858	1759	108	issuer	issuer	NOUN
cblr-13858	1759	109	,	,	PUNCT
cblr-13858	1759	110	how	how	SCONJ
cblr-13858	1759	111	the	the	DET
cblr-13858	1759	112	securities	security	NOUN
cblr-13858	1759	113	being	be	AUX
cblr-13858	1759	114	offered	offer	VERB
cblr-13858	1759	115	are	be	AUX
cblr-13858	1759	116	being	be	AUX
cblr-13858	1759	117	valued	value	VERB
cblr-13858	1759	118	,	,	PUNCT
cblr-13858	1759	119	what	what	PRON
cblr-13858	1759	120	the	the	DET
cblr-13858	1759	121	rights	right	NOUN
cblr-13858	1759	122	of	of	ADP
cblr-13858	1759	123	the	the	DET
cblr-13858	1759	124	securities	security	NOUN
cblr-13858	1759	125	are	be	AUX
cblr-13858	1759	126	,	,	PUNCT
cblr-13858	1759	127	and	and	CCONJ
cblr-13858	1759	128	how	how	SCONJ
cblr-13858	1759	129	rights	right	NOUN
cblr-13858	1759	130	may	may	AUX
cblr-13858	1759	131	be	be	AUX
cblr-13858	1759	132	exercised	exercise	VERB
cblr-13858	1759	133	by	by	ADP
cblr-13858	1759	134	the	the	DET
cblr-13858	1759	135	issuer	issuer	NOUN
cblr-13858	1759	136	and	and	CCONJ
cblr-13858	1759	137	shareholders	shareholder	NOUN
cblr-13858	1759	138	.	.	PUNCT
cblr-13858	1760	1	"4	"4	ADJ
cblr-13858	1760	2	94	94	NUM
cblr-13858	1760	3	issuers	issuer	NOUN
cblr-13858	1760	4	must	must	AUX
cblr-13858	1760	5	also	also	ADV
cblr-13858	1760	6	provide	provide	VERB
cblr-13858	1760	7	investors	investor	NOUN
cblr-13858	1760	8	and	and	CCONJ
cblr-13858	1760	9	the	the	DET
cblr-13858	1760	10	sec	sec	PROPN
cblr-13858	1760	11	with	with	ADP
cblr-13858	1760	12	regular	regular	ADJ
cblr-13858	1760	13	updates	update	NOUN
cblr-13858	1760	14	about	about	ADP
cblr-13858	1760	15	the	the	DET
cblr-13858	1760	16	issuer	issuer	NOUN
cblr-13858	1760	17	's	's	PART
cblr-13858	1760	18	progress	progress	NOUN
cblr-13858	1760	19	toward	toward	ADP
cblr-13858	1760	20	meeting	meet	VERB
cblr-13858	1760	21	the	the	DET
cblr-13858	1760	22	target	target	NOUN
cblr-13858	1760	23	offering	offering	NOUN
cblr-13858	1760	24	amount	amount	NOUN
cblr-13858	1760	25	,	,	PUNCT
cblr-13858	1760	26	as	as	ADV
cblr-13858	1760	27	well	well	ADV
cblr-13858	1760	28	as	as	ADP
cblr-13858	1760	29	quarterly	quarterly	ADJ
cblr-13858	1760	30	reports	report	NOUN
cblr-13858	1760	31	on	on	ADP
cblr-13858	1760	32	operations	operation	NOUN
cblr-13858	1760	33	and	and	CCONJ
cblr-13858	1760	34	financial	financial	ADJ
cblr-13858	1760	35	statements.4	statements.4	PROPN
cblr-13858	1760	36	95	95	NUM
cblr-13858	1760	37	crowdfunding	crowdfunding	NOUN
cblr-13858	1760	38	intermediaries	intermediary	NOUN
cblr-13858	1760	39	,	,	PUNCT
cblr-13858	1760	40	including	include	VERB
cblr-13858	1760	41	brokers	broker	NOUN
cblr-13858	1760	42	,	,	PUNCT
cblr-13858	1760	43	must	must	AUX
cblr-13858	1760	44	also	also	ADV
cblr-13858	1760	45	meet	meet	VERB
cblr-13858	1760	46	certain	certain	ADJ
cblr-13858	1760	47	disclosure	disclosure	NOUN
cblr-13858	1760	48	-	-	PUNCT
cblr-13858	1760	49	related	relate	VERB
cblr-13858	1760	50	requirements	requirement	NOUN
cblr-13858	1760	51	.	.	PUNCT
cblr-13858	1761	1	intermediaries	intermediary	NOUN
cblr-13858	1761	2	must	must	AUX
cblr-13858	1761	3	provide	provide	VERB
cblr-13858	1761	4	sec	sec	PROPN
cblr-13858	1761	5	-	-	PUNCT
cblr-13858	1761	6	required	require	VERB
cblr-13858	1761	7	disclosures	disclosure	NOUN
cblr-13858	1761	8	and	and	CCONJ
cblr-13858	1761	9	investor	investor	NOUN
cblr-13858	1761	10	education	education	NOUN
cblr-13858	1761	11	materials	material	NOUN
cblr-13858	1761	12	and	and	CCONJ
cblr-13858	1761	13	must	must	AUX
cblr-13858	1761	14	"	"	PUNCT
cblr-13858	1761	15	ensure	ensure	VERB
cblr-13858	1761	16	"	"	PUNCT
cblr-13858	1761	17	that	that	SCONJ
cblr-13858	1761	18	each	each	DET
cblr-13858	1761	19	investor	investor	NOUN
cblr-13858	1761	20	(	(	PUNCT
cblr-13858	1761	21	1	1	X
cblr-13858	1761	22	)	)	PUNCT
cblr-13858	1761	23	reviews	review	VERB
cblr-13858	1761	24	those	those	DET
cblr-13858	1761	25	materials	material	NOUN
cblr-13858	1761	26	;	;	PUNCT
cblr-13858	1761	27	(	(	PUNCT
cblr-13858	1761	28	2	2	X
cblr-13858	1761	29	)	)	PUNCT
cblr-13858	1761	30	"	"	PUNCT
cblr-13858	1761	31	positively	positively	ADV
cblr-13858	1761	32	affirms	affirm	VERB
cblr-13858	1761	33	"	"	PUNCT
cblr-13858	1761	34	her	her	PRON
cblr-13858	1761	35	understanding	understanding	NOUN
cblr-13858	1761	36	that	that	SCONJ
cblr-13858	1761	37	her	her	PRON
cblr-13858	1761	38	entire	entire	ADJ
cblr-13858	1761	39	investment	investment	NOUN
cblr-13858	1761	40	is	be	AUX
cblr-13858	1761	41	at	at	ADP
cblr-13858	1761	42	risk	risk	NOUN
cblr-13858	1761	43	and	and	CCONJ
cblr-13858	1761	44	that	that	SCONJ
cblr-13858	1761	45	she	she	PRON
cblr-13858	1761	46	could	could	AUX
cblr-13858	1761	47	bear	bear	VERB
cblr-13858	1761	48	such	such	DET
cblr-13858	1761	49	a	a	DET
cblr-13858	1761	50	loss	loss	NOUN
cblr-13858	1761	51	;	;	PUNCT
cblr-13858	1761	52	and	and	CCONJ
cblr-13858	1761	53	(	(	PUNCT
cblr-13858	1761	54	3	3	X
cblr-13858	1761	55	)	)	PUNCT
cblr-13858	1761	56	answers	answer	VERB
cblr-13858	1761	57	questions	question	NOUN
cblr-13858	1761	58	demonstrating	demonstrate	VERB
cblr-13858	1761	59	an	an	DET
cblr-13858	1761	60	understanding	understanding	NOUN
cblr-13858	1761	61	of	of	ADP
cblr-13858	1761	62	the	the	DET
cblr-13858	1761	63	risk	risk	NOUN
cblr-13858	1761	64	,	,	PUNCT
cblr-13858	1761	65	including	include	VERB
cblr-13858	1761	66	the	the	DET
cblr-13858	1761	67	risk	risk	NOUN
cblr-13858	1761	68	of	of	ADP
cblr-13858	1761	69	illiquidity	illiquidity	NOUN
cblr-13858	1761	70	,	,	PUNCT
cblr-13858	1761	71	and	and	CCONJ
cblr-13858	1761	72	such	such	ADJ
cblr-13858	1761	73	other	other	ADJ
cblr-13858	1761	74	matters	matter	NOUN
cblr-13858	1761	75	as	as	SCONJ
cblr-13858	1761	76	the	the	DET
cblr-13858	1761	77	sec	sec	PROPN
cblr-13858	1761	78	deems	deem	VERB
cblr-13858	1761	79	appropriate.4	appropriate.4	PROPN
cblr-13858	1761	80	96	96	NUM
cblr-13858	1761	81	in	in	ADP
cblr-13858	1761	82	addition	addition	NOUN
cblr-13858	1761	83	,	,	PUNCT
cblr-13858	1761	84	at	at	ADV
cblr-13858	1761	85	least	least	ADV
cblr-13858	1761	86	one	one	NUM
cblr-13858	1761	87	month	month	NOUN
cblr-13858	1761	88	prior	prior	ADV
cblr-13858	1761	89	to	to	ADP
cblr-13858	1761	90	any	any	DET
cblr-13858	1761	91	offering	offering	NOUN
cblr-13858	1761	92	,	,	PUNCT
cblr-13858	1761	93	the	the	DET
cblr-13858	1761	94	intermediary	intermediary	NOUN
cblr-13858	1761	95	must	must	AUX
cblr-13858	1761	96	provide	provide	VERB
cblr-13858	1761	97	,	,	PUNCT
cblr-13858	1761	98	in	in	ADP
cblr-13858	1761	99	writing	writing	NOUN
cblr-13858	1761	100	,	,	PUNCT
cblr-13858	1761	101	to	to	ADP
cblr-13858	1761	102	both	both	CCONJ
cblr-13858	1761	103	the	the	DET
cblr-13858	1761	104	sec	sec	PROPN
cblr-13858	1761	105	and	and	CCONJ
cblr-13858	1761	106	investors	investor	NOUN
cblr-13858	1761	107	,	,	PUNCT
cblr-13858	1761	108	any	any	DET
cblr-13858	1761	109	information	information	NOUN
cblr-13858	1761	110	that	that	PRON
cblr-13858	1761	111	has	have	AUX
cblr-13858	1761	112	been	be	AUX
cblr-13858	1761	113	provided	provide	VERB
cblr-13858	1761	114	by	by	ADP
cblr-13858	1761	115	the	the	DET
cblr-13858	1761	116	issuer	issuer	NOUN
cblr-13858	1761	117	pursuant	pursuant	NOUN
cblr-13858	1761	118	to	to	ADP
cblr-13858	1761	119	the	the	DET
cblr-13858	1761	120	issuer	issuer	NOUN
cblr-13858	1761	121	's	's	PART
cblr-13858	1761	122	filing	filing	NOUN
cblr-13858	1761	123	requirements.49	requirements.49	NOUN
cblr-13858	1761	124	7	7	NUM
cblr-13858	1761	125	intermediaries	intermediary	NOUN
cblr-13858	1761	126	are	be	AUX
cblr-13858	1761	127	also	also	ADV
cblr-13858	1761	128	required	require	VERB
cblr-13858	1761	129	to	to	PART
cblr-13858	1761	130	take	take	VERB
cblr-13858	1761	131	49	49	NUM
cblr-13858	1762	1	i	i	PRON
cblr-13858	1762	2	d.	d.	PROPN
cblr-13858	1762	3	49	49	NUM
cblr-13858	1763	1	i	i	PRON
cblr-13858	1763	2	d.	d.	PROPN
cblr-13858	1763	3	9	9	NUM
cblr-13858	1763	4	i	i	PROPN
cblr-13858	1763	5	d.	d.	PROPN
cblr-13858	1763	6	49	49	NUM
cblr-13858	1764	1	i	i	PRON
cblr-13858	1764	2	d.	d.	PROPN
cblr-13858	1764	3	96	96	NUM
cblr-13858	1765	1	[	[	X
cblr-13858	1765	2	vol	vol	NOUN
cblr-13858	1765	3	.	.	PUNCT
cblr-13858	1765	4	2012	2012	NUM
cblr-13858	1765	5	such	such	ADJ
cblr-13858	1765	6	measures	measure	NOUN
cblr-13858	1765	7	as	as	SCONJ
cblr-13858	1765	8	the	the	DET
cblr-13858	1765	9	sec	sec	PROPN
cblr-13858	1765	10	requires	require	VERB
cblr-13858	1765	11	to	to	PART
cblr-13858	1765	12	reduce	reduce	VERB
cblr-13858	1765	13	the	the	DET
cblr-13858	1765	14	risk	risk	NOUN
cblr-13858	1765	15	of	of	ADP
cblr-13858	1765	16	fraud	fraud	NOUN
cblr-13858	1765	17	,	,	PUNCT
cblr-13858	1765	18	including	include	VERB
cblr-13858	1765	19	criminal	criminal	ADJ
cblr-13858	1765	20	background	background	NOUN
cblr-13858	1765	21	checks	check	NOUN
cblr-13858	1765	22	and	and	CCONJ
cblr-13858	1765	23	securities	security	NOUN
cblr-13858	1765	24	enforcement	enforcement	NOUN
cblr-13858	1765	25	regulatory	regulatory	ADJ
cblr-13858	1765	26	checks	check	NOUN
cblr-13858	1765	27	on	on	ADP
cblr-13858	1765	28	the	the	DET
cblr-13858	1765	29	issuer	issuer	NOUN
cblr-13858	1765	30	's	's	PART
cblr-13858	1765	31	officers	officer	NOUN
cblr-13858	1765	32	and	and	CCONJ
cblr-13858	1765	33	directors	director	NOUN
cblr-13858	1765	34	,	,	PUNCT
cblr-13858	1765	35	and	and	CCONJ
cblr-13858	1765	36	on	on	ADP
cblr-13858	1765	37	holders	holder	NOUN
cblr-13858	1765	38	of	of	ADP
cblr-13858	1765	39	more	more	ADJ
cblr-13858	1765	40	than	than	ADP
cblr-13858	1765	41	20	20	NUM
cblr-13858	1765	42	%	%	NOUN
cblr-13858	1765	43	of	of	ADP
cblr-13858	1765	44	the	the	DET
cblr-13858	1765	45	issuer	issuer	NOUN
cblr-13858	1765	46	's	's	PART
cblr-13858	1765	47	shares.498	shares.498	PROPN
cblr-13858	1765	48	senate	senate	PROPN
cblr-13858	1765	49	bill	bill	PROPN
cblr-13858	1765	50	1970	1970	NUM
cblr-13858	1765	51	includes	include	VERB
cblr-13858	1765	52	a	a	DET
cblr-13858	1765	53	number	number	NOUN
cblr-13858	1765	54	of	of	ADP
cblr-13858	1765	55	other	other	ADJ
cblr-13858	1765	56	structural	structural	ADJ
cblr-13858	1765	57	restrictions	restriction	NOUN
cblr-13858	1765	58	on	on	ADP
cblr-13858	1765	59	intermediaries	intermediary	NOUN
cblr-13858	1765	60	.	.	PUNCT
cblr-13858	1766	1	intermediaries	intermediary	NOUN
cblr-13858	1766	2	may	may	AUX
cblr-13858	1766	3	not	not	PART
cblr-13858	1766	4	allow	allow	VERB
cblr-13858	1766	5	issuers	issuer	NOUN
cblr-13858	1766	6	to	to	PART
cblr-13858	1766	7	draw	draw	VERB
cblr-13858	1766	8	on	on	ADP
cblr-13858	1766	9	offering	offer	VERB
cblr-13858	1766	10	funds	fund	NOUN
cblr-13858	1766	11	until	until	SCONJ
cblr-13858	1766	12	the	the	DET
cblr-13858	1766	13	capital	capital	NOUN
cblr-13858	1766	14	contributed	contribute	VERB
cblr-13858	1766	15	by	by	ADP
cblr-13858	1766	16	investors	investor	NOUN
cblr-13858	1766	17	is	be	AUX
cblr-13858	1766	18	equal	equal	ADJ
cblr-13858	1766	19	to	to	ADP
cblr-13858	1766	20	the	the	DET
cblr-13858	1766	21	target	target	NOUN
cblr-13858	1766	22	offering	offering	NOUN
cblr-13858	1766	23	amount	amount	NOUN
cblr-13858	1766	24	,	,	PUNCT
cblr-13858	1766	25	and	and	CCONJ
cblr-13858	1766	26	must	must	AUX
cblr-13858	1766	27	allow	allow	VERB
cblr-13858	1766	28	investors	investor	NOUN
cblr-13858	1766	29	to	to	PART
cblr-13858	1766	30	cancel	cancel	VERB
cblr-13858	1766	31	their	their	PRON
cblr-13858	1766	32	commitments	commitment	NOUN
cblr-13858	1766	33	to	to	PART
cblr-13858	1766	34	invest	invest	VERB
cblr-13858	1766	35	under	under	ADP
cblr-13858	1766	36	rules	rule	NOUN
cblr-13858	1766	37	to	to	PART
cblr-13858	1766	38	be	be	AUX
cblr-13858	1766	39	adopted	adopt	VERB
cblr-13858	1766	40	by	by	ADP
cblr-13858	1766	41	the	the	DET
cblr-13858	1766	42	sec	sec	PROPN
cblr-13858	1766	43	.499	.499	PUNCT
cblr-13858	1766	44	the	the	DET
cblr-13858	1766	45	directors	director	NOUN
cblr-13858	1766	46	,	,	PUNCT
cblr-13858	1766	47	officers	officer	NOUN
cblr-13858	1766	48	,	,	PUNCT
cblr-13858	1766	49	partners	partner	NOUN
cblr-13858	1766	50	,	,	PUNCT
cblr-13858	1766	51	and	and	CCONJ
cblr-13858	1766	52	employees	employee	NOUN
cblr-13858	1766	53	of	of	ADP
cblr-13858	1766	54	an	an	DET
cblr-13858	1766	55	intermediary	intermediary	NOUN
cblr-13858	1766	56	may	may	AUX
cblr-13858	1766	57	not	not	PART
cblr-13858	1766	58	have	have	VERB
cblr-13858	1766	59	a	a	DET
cblr-13858	1766	60	financial	financial	ADJ
cblr-13858	1766	61	interest	interest	NOUN
cblr-13858	1766	62	in	in	ADP
cblr-13858	1766	63	any	any	PRON
cblr-13858	1766	64	of	of	ADP
cblr-13858	1766	65	the	the	DET
cblr-13858	1766	66	issuers	issuer	NOUN
cblr-13858	1766	67	using	use	VERB
cblr-13858	1766	68	the	the	DET
cblr-13858	1766	69	intermediary	intermediary	NOUN
cblr-13858	1766	70	.	.	PUNCT
cblr-13858	1767	1	"oo	"oo	PUNCT
cblr-13858	1767	2	the	the	DET
cblr-13858	1767	3	intermediary	intermediary	NOUN
cblr-13858	1767	4	may	may	AUX
cblr-13858	1767	5	not	not	PART
cblr-13858	1767	6	compensate	compensate	VERB
cblr-13858	1767	7	promoters	promoter	NOUN
cblr-13858	1767	8	,	,	PUNCT
cblr-13858	1767	9	finders	finder	NOUN
cblr-13858	1767	10	,	,	PUNCT
cblr-13858	1767	11	or	or	CCONJ
cblr-13858	1767	12	others	other	NOUN
cblr-13858	1767	13	for	for	ADP
cblr-13858	1767	14	finding	find	VERB
cblr-13858	1767	15	potential	potential	ADJ
cblr-13858	1767	16	investors.01	investors.01	NOUN
cblr-13858	1767	17	finally	finally	ADV
cblr-13858	1767	18	,	,	PUNCT
cblr-13858	1767	19	intermediaries	intermediary	NOUN
cblr-13858	1767	20	must	must	AUX
cblr-13858	1767	21	take	take	VERB
cblr-13858	1767	22	steps	step	NOUN
cblr-13858	1767	23	to	to	PART
cblr-13858	1767	24	protect	protect	VERB
cblr-13858	1767	25	investors	investor	NOUN
cblr-13858	1767	26	'	'	PART
cblr-13858	1767	27	privacy	privacy	NOUN
cblr-13858	1767	28	,	,	PUNCT
cblr-13858	1767	29	as	as	SCONJ
cblr-13858	1767	30	mandated	mandate	VERB
cblr-13858	1767	31	by	by	ADP
cblr-13858	1767	32	sec	sec	PROPN
cblr-13858	1767	33	rules.502	rules.502	NOUN
cblr-13858	1767	34	senate	senate	PROPN
cblr-13858	1767	35	bill	bill	PROPN
cblr-13858	1767	36	1970	1970	NUM
cblr-13858	1767	37	adds	add	VERB
cblr-13858	1767	38	a	a	DET
cblr-13858	1767	39	miscellany	miscellany	NOUN
cblr-13858	1767	40	of	of	ADP
cblr-13858	1767	41	other	other	ADJ
cblr-13858	1767	42	conditions	condition	NOUN
cblr-13858	1767	43	.	.	PUNCT
cblr-13858	1768	1	certain	certain	ADJ
cblr-13858	1768	2	issuers	issuer	NOUN
cblr-13858	1768	3	,	,	PUNCT
cblr-13858	1768	4	brokers	broker	NOUN
cblr-13858	1768	5	,	,	PUNCT
cblr-13858	1768	6	and	and	CCONJ
cblr-13858	1768	7	other	other	ADJ
cblr-13858	1768	8	intermediaries	intermediary	NOUN
cblr-13858	1768	9	are	be	AUX
cblr-13858	1768	10	disqualified	disqualify	VERB
cblr-13858	1768	11	from	from	ADP
cblr-13858	1768	12	using	use	VERB
cblr-13858	1768	13	the	the	DET
cblr-13858	1768	14	exemption.50	exemption.50	PROPN
cblr-13858	1768	15	'	'	PART
cblr-13858	1768	16	resales	resale	NOUN
cblr-13858	1768	17	are	be	AUX
cblr-13858	1768	18	restricted	restrict	VERB
cblr-13858	1768	19	for	for	ADP
cblr-13858	1768	20	two	two	NUM
cblr-13858	1768	21	years	year	NOUN
cblr-13858	1768	22	,	,	PUNCT
cblr-13858	1768	23	with	with	ADP
cblr-13858	1768	24	certain	certain	ADJ
cblr-13858	1768	25	exceptions	exception	NOUN
cblr-13858	1768	26	.	.	PUNCT
cblr-13858	1769	1	504	504	NUM
cblr-13858	1769	2	the	the	DET
cblr-13858	1769	3	sec	sec	PROPN
cblr-13858	1769	4	is	be	AUX
cblr-13858	1769	5	allowed	allow	VERB
cblr-13858	1769	6	,	,	PUNCT
cblr-13858	1769	7	but	but	CCONJ
cblr-13858	1769	8	not	not	PART
cblr-13858	1769	9	required	require	VERB
cblr-13858	1769	10	,	,	PUNCT
cblr-13858	1769	11	to	to	PART
cblr-13858	1769	12	exclude	exclude	VERB
cblr-13858	1769	13	crowdfunding	crowdfunde	VERB
cblr-13858	1769	14	investors	investor	NOUN
cblr-13858	1769	15	from	from	ADP
cblr-13858	1769	16	the	the	DET
cblr-13858	1769	17	calculation	calculation	NOUN
cblr-13858	1769	18	of	of	ADP
cblr-13858	1769	19	record	record	NOUN
cblr-13858	1769	20	shareholders	shareholder	NOUN
cblr-13858	1769	21	for	for	ADP
cblr-13858	1769	22	purposes	purpose	NOUN
cblr-13858	1769	23	of	of	ADP
cblr-13858	1769	24	section	section	NOUN
cblr-13858	1769	25	12(g	12(g	NUM
cblr-13858	1769	26	)	)	PUNCT
cblr-13858	1769	27	of	of	ADP
cblr-13858	1769	28	the	the	DET
cblr-13858	1769	29	exchange	exchange	NOUN
cblr-13858	1769	30	act.05	act.05	ADJ
cblr-13858	1769	31	senate	senate	PROPN
cblr-13858	1769	32	bill	bill	PROPN
cblr-13858	1769	33	1970	1970	NUM
cblr-13858	1769	34	also	also	ADV
cblr-13858	1769	35	requires	require	VERB
cblr-13858	1769	36	the	the	DET
cblr-13858	1769	37	sec	sec	PROPN
cblr-13858	1769	38	to	to	PART
cblr-13858	1769	39	periodically	periodically	ADV
cblr-13858	1769	40	review	review	VERB
cblr-13858	1769	41	the	the	DET
cblr-13858	1769	42	exemption	exemption	NOUN
cblr-13858	1769	43	's	's	PART
cblr-13858	1769	44	effects	effect	NOUN
cblr-13858	1769	45	on	on	ADP
cblr-13858	1769	46	investor	investor	NOUN
cblr-13858	1769	47	protection.506	protection.506	NOUN
cblr-13858	1769	48	furthermore	furthermore	ADV
cblr-13858	1769	49	,	,	PUNCT
cblr-13858	1769	50	the	the	DET
cblr-13858	1769	51	bill	bill	NOUN
cblr-13858	1769	52	adds	add	VERB
cblr-13858	1769	53	a	a	DET
cblr-13858	1769	54	special	special	ADJ
cblr-13858	1769	55	liability	liability	NOUN
cblr-13858	1769	56	provision	provision	NOUN
cblr-13858	1769	57	making	make	VERB
cblr-13858	1769	58	498	498	NUM
cblr-13858	1770	1	i	i	PRON
cblr-13858	1770	2	d.	d.	PROPN
cblr-13858	1770	3	49	49	NUM
cblr-13858	1771	1	i	i	PRON
cblr-13858	1771	2	d.	d.	PROPN
cblr-13858	1771	3	500	500	NUM
cblr-13858	1772	1	i	i	PRON
cblr-13858	1772	2	d.	d.	PROPN
cblr-13858	1772	3	01	01	NUM
cblr-13858	1773	1	i	i	PRON
cblr-13858	1773	2	d.	d.	PROPN
cblr-13858	1773	3	502	502	NUM
cblr-13858	1774	1	i	i	PRON
cblr-13858	1774	2	d.	d.	PROPN
cblr-13858	1774	3	503	503	NUM
cblr-13858	1775	1	i	i	PRON
cblr-13858	1775	2	d.	d.	PROPN
cblr-13858	1775	3	504	504	NUM
cblr-13858	1775	4	i	i	NOUN
cblr-13858	1775	5	d.	d.	PROPN
cblr-13858	1775	6	505	505	NUM
cblr-13858	1776	1	i	i	PRON
cblr-13858	1776	2	d.	d.	PROPN
cblr-13858	1776	3	60	60	NUM
cblr-13858	1777	1	i	i	PRON
cblr-13858	1777	2	d.	d.	PROPN
cblr-13858	1777	3	§	§	PROPN
cblr-13858	1777	4	5	5	NUM
cblr-13858	1777	5	.	.	PUNCT
cblr-13858	1777	6	97no	97no	ADJ
cblr-13858	1777	7	.	.	PUNCT
cblr-13858	1778	1	1	1	NUM
cblr-13858	1778	2	:	:	SYM
cblr-13858	1778	3	1	1	NUM
cblr-13858	1778	4	]	]	PUNCT
cblr-13858	1778	5	cro	cro	NOUN
cblr-13858	1778	6	wdfunding	wdfunding	NOUN
cblr-13858	1778	7	and	and	CCONJ
cblr-13858	1778	8	securities	security	NOUN
cblr-13858	1778	9	la	la	PRON
cblr-13858	1778	10	ws	ws	PROPN
cblr-13858	1778	11	crowdfunding	crowdfunding	NOUN
cblr-13858	1778	12	issuers	issuer	NOUN
cblr-13858	1778	13	and	and	CCONJ
cblr-13858	1778	14	their	their	PRON
cblr-13858	1778	15	officers	officer	NOUN
cblr-13858	1778	16	and	and	CCONJ
cblr-13858	1778	17	directors	director	NOUN
cblr-13858	1778	18	liable	liable	ADJ
cblr-13858	1778	19	for	for	ADP
cblr-13858	1778	20	materially	materially	ADV
cblr-13858	1778	21	false	false	ADJ
cblr-13858	1778	22	and	and	CCONJ
cblr-13858	1778	23	misleading	misleading	ADJ
cblr-13858	1778	24	statements	statement	NOUN
cblr-13858	1778	25	.	.	PUNCT
cblr-13858	1779	1	"o	"o	PROPN
cblr-13858	1779	2	'	'	PUNCT
cblr-13858	1779	3	unlike	unlike	ADP
cblr-13858	1779	4	the	the	DET
cblr-13858	1779	5	other	other	ADJ
cblr-13858	1779	6	bills	bill	NOUN
cblr-13858	1779	7	,	,	PUNCT
cblr-13858	1779	8	senate	senate	PROPN
cblr-13858	1779	9	bill	bill	PROPN
cblr-13858	1779	10	1970	1970	NUM
cblr-13858	1779	11	does	do	AUX
cblr-13858	1779	12	not	not	PART
cblr-13858	1779	13	preempt	preempt	VERB
cblr-13858	1779	14	state	state	NOUN
cblr-13858	1779	15	securities	security	NOUN
cblr-13858	1779	16	law	law	NOUN
cblr-13858	1779	17	.	.	PUNCT
cblr-13858	1780	1	it	it	PRON
cblr-13858	1780	2	does	do	AUX
cblr-13858	1780	3	,	,	PUNCT
cblr-13858	1780	4	however	however	ADV
cblr-13858	1780	5	,	,	PUNCT
cblr-13858	1780	6	require	require	VERB
cblr-13858	1780	7	that	that	SCONJ
cblr-13858	1780	8	the	the	DET
cblr-13858	1780	9	sec	sec	PROPN
cblr-13858	1780	10	make	make	VERB
cblr-13858	1780	11	the	the	DET
cblr-13858	1780	12	information	information	NOUN
cblr-13858	1780	13	it	it	PRON
cblr-13858	1780	14	receives	receive	VERB
cblr-13858	1780	15	pursuant	pursuant	ADV
cblr-13858	1780	16	to	to	ADP
cblr-13858	1780	17	the	the	DET
cblr-13858	1780	18	exemption	exemption	NOUN
cblr-13858	1780	19	available	available	ADJ
cblr-13858	1780	20	to	to	ADP
cblr-13858	1780	21	state	state	NOUN
cblr-13858	1780	22	securities	security	NOUN
cblr-13858	1780	23	regulators.0	regulators.0	VERB
cblr-13858	1780	24	"	"	PUNCT
cblr-13858	1780	25	vi	vi	PROPN
cblr-13858	1780	26	.	.	PUNCT
cblr-13858	1781	1	the	the	DET
cblr-13858	1781	2	costs	cost	NOUN
cblr-13858	1781	3	and	and	CCONJ
cblr-13858	1781	4	benefits	benefit	NOUN
cblr-13858	1781	5	of	of	ADP
cblr-13858	1781	6	a	a	DET
cblr-13858	1781	7	crowdfunding	crowdfunding	NOUN
cblr-13858	1781	8	exemption	exemption	NOUN
cblr-13858	1781	9	a	a	DET
cblr-13858	1781	10	crowdfunding	crowdfunding	NOUN
cblr-13858	1781	11	exemption	exemption	NOUN
cblr-13858	1781	12	,	,	PUNCT
cblr-13858	1781	13	like	like	ADP
cblr-13858	1781	14	any	any	DET
cblr-13858	1781	15	securities	security	NOUN
cblr-13858	1781	16	law	law	NOUN
cblr-13858	1781	17	exemption	exemption	NOUN
cblr-13858	1781	18	,	,	PUNCT
cblr-13858	1781	19	requires	require	VERB
cblr-13858	1781	20	a	a	DET
cblr-13858	1781	21	complicated	complicated	ADJ
cblr-13858	1781	22	balancing	balancing	NOUN
cblr-13858	1781	23	of	of	ADP
cblr-13858	1781	24	two	two	NUM
cblr-13858	1781	25	sometimes	sometimes	ADV
cblr-13858	1781	26	conflicting	conflicting	ADJ
cblr-13858	1781	27	goals	goal	NOUN
cblr-13858	1781	28	:	:	PUNCT
cblr-13858	1781	29	investor	investor	NOUN
cblr-13858	1781	30	protection	protection	NOUN
cblr-13858	1781	31	and	and	CCONJ
cblr-13858	1781	32	capital	capital	NOUN
cblr-13858	1781	33	formation.50	formation.50	PROPN
cblr-13858	1781	34	9	9	NUM
cblr-13858	1781	35	the	the	DET
cblr-13858	1781	36	sec	sec	PROPN
cblr-13858	1781	37	has	have	AUX
cblr-13858	1781	38	long	long	ADV
cblr-13858	1781	39	seen	see	VERB
cblr-13858	1781	40	its	its	PRON
cblr-13858	1781	41	mission	mission	NOUN
cblr-13858	1781	42	as	as	ADP
cblr-13858	1781	43	"	"	PUNCT
cblr-13858	1781	44	investor	investor	NOUN
cblr-13858	1781	45	protection	protection	NOUN
cblr-13858	1781	46	in	in	ADP
cblr-13858	1781	47	the	the	DET
cblr-13858	1781	48	sense	sense	NOUN
cblr-13858	1781	49	of	of	ADP
cblr-13858	1781	50	remedying	remedy	VERB
cblr-13858	1781	51	information	information	NOUN
cblr-13858	1781	52	asymmetries	asymmetry	NOUN
cblr-13858	1781	53	and	and	CCONJ
cblr-13858	1781	54	rooting	root	VERB
cblr-13858	1781	55	out	out	ADP
cblr-13858	1781	56	fraud,"o10	fraud,"o10	PROPN
cblr-13858	1781	57	but	but	CCONJ
cblr-13858	1781	58	all	all	PRON
cblr-13858	1781	59	of	of	ADP
cblr-13858	1781	60	the	the	DET
cblr-13858	1781	61	sec	sec	PROPN
cblr-13858	1781	62	's	's	PART
cblr-13858	1781	63	foundational	foundational	ADJ
cblr-13858	1781	64	statutes	statute	NOUN
cblr-13858	1781	65	require	require	VERB
cblr-13858	1781	66	it	it	PRON
cblr-13858	1781	67	to	to	PART
cblr-13858	1781	68	consider	consider	VERB
cblr-13858	1781	69	,	,	PUNCT
cblr-13858	1781	70	"	"	PUNCT
cblr-13858	1781	71	in	in	ADP
cblr-13858	1781	72	addition	addition	NOUN
cblr-13858	1781	73	to	to	ADP
cblr-13858	1781	74	the	the	DET
cblr-13858	1781	75	protection	protection	NOUN
cblr-13858	1781	76	of	of	ADP
cblr-13858	1781	77	investors	investor	NOUN
cblr-13858	1781	78	,	,	PUNCT
cblr-13858	1781	79	whether	whether	SCONJ
cblr-13858	1781	80	the	the	PRON
cblr-13858	1781	81	.	.	PUNCT
cblr-13858	1781	82	.	.	PUNCT
cblr-13858	1781	83	.	.	PUNCT
cblr-13858	1782	1	[	[	X
cblr-13858	1782	2	sec	sec	PROPN
cblr-13858	1782	3	's	's	PART
cblr-13858	1782	4	]	]	X
cblr-13858	1782	5	action	action	NOUN
cblr-13858	1782	6	will	will	AUX
cblr-13858	1782	7	promote	promote	VERB
cblr-13858	1782	8	efficiency	efficiency	NOUN
cblr-13858	1782	9	,	,	PUNCT
cblr-13858	1782	10	competition	competition	NOUN
cblr-13858	1782	11	,	,	PUNCT
cblr-13858	1782	12	and	and	CCONJ
cblr-13858	1782	13	capital	capital	NOUN
cblr-13858	1782	14	formation	formation	NOUN
cblr-13858	1782	15	.	.	PUNCT
cblr-13858	1783	1	"5	"5	NOUN
cblr-13858	1784	1	1	1	X
cblr-13858	1784	2	'	'	PUNCT
cblr-13858	1784	3	balancing	balance	VERB
cblr-13858	1784	4	those	those	DET
cblr-13858	1784	5	competing	compete	VERB
cblr-13858	1784	6	interests	interest	NOUN
cblr-13858	1784	7	is	be	AUX
cblr-13858	1784	8	"	"	PUNCT
cblr-13858	1784	9	a	a	DET
cblr-13858	1784	10	fundamental	fundamental	ADJ
cblr-13858	1784	11	challenge	challenge	NOUN
cblr-13858	1784	12	of	of	ADP
cblr-13858	1784	13	securities	security	NOUN
cblr-13858	1784	14	regulation,"5	regulation,"5	VERB
cblr-13858	1784	15	12	12	NUM
cblr-13858	1784	16	and	and	CCONJ
cblr-13858	1784	17	the	the	DET
cblr-13858	1784	18	507	507	NUM
cblr-13858	1784	19	i	i	PROPN
cblr-13858	1784	20	d.	d.	PROPN
cblr-13858	1784	21	§	§	PROPN
cblr-13858	1784	22	2	2	NUM
cblr-13858	1784	23	.	.	NUM
cblr-13858	1784	24	508	508	NUM
cblr-13858	1785	1	i	i	NOUN
cblr-13858	1785	2	d.	d.	PROPN
cblr-13858	1785	3	"	"	PUNCT
cblr-13858	1785	4	see	see	VERB
cblr-13858	1785	5	generally	generally	ADV
cblr-13858	1785	6	c.	c.	PROPN
cblr-13858	1785	7	steven	steven	PROPN
cblr-13858	1785	8	bradford	bradford	PROPN
cblr-13858	1785	9	,	,	PUNCT
cblr-13858	1785	10	transaction	transaction	NOUN
cblr-13858	1785	11	exemptions	exemption	NOUN
cblr-13858	1785	12	in	in	ADP
cblr-13858	1785	13	the	the	DET
cblr-13858	1785	14	securities	security	NOUN
cblr-13858	1785	15	act	act	NOUN
cblr-13858	1785	16	of	of	ADP
cblr-13858	1785	17	1933	1933	NUM
cblr-13858	1785	18	:	:	PUNCT
cblr-13858	1785	19	an	an	DET
cblr-13858	1785	20	economic	economic	ADJ
cblr-13858	1785	21	analysis	analysis	NOUN
cblr-13858	1785	22	,	,	PUNCT
cblr-13858	1785	23	45	45	NUM
cblr-13858	1785	24	emory	emory	PROPN
cblr-13858	1785	25	l.j	l.j	PROPN
cblr-13858	1785	26	.	.	PROPN
cblr-13858	1785	27	591	591	NUM
cblr-13858	1785	28	(	(	PUNCT
cblr-13858	1785	29	1996	1996	NUM
cblr-13858	1785	30	)	)	PUNCT
cblr-13858	1786	1	[	[	X
cblr-13858	1786	2	hereinafter	hereinafter	NOUN
cblr-13858	1786	3	bradford	bradford	NOUN
cblr-13858	1786	4	,	,	PUNCT
cblr-13858	1786	5	transaction	transaction	NOUN
cblr-13858	1786	6	exemptions	exemption	NOUN
cblr-13858	1786	7	]	]	PUNCT
cblr-13858	1786	8	(	(	PUNCT
cblr-13858	1786	9	discussing	discuss	VERB
cblr-13858	1786	10	the	the	DET
cblr-13858	1786	11	costs	cost	NOUN
cblr-13858	1786	12	and	and	CCONJ
cblr-13858	1786	13	benefits	benefit	NOUN
cblr-13858	1786	14	of	of	ADP
cblr-13858	1786	15	registration	registration	NOUN
cblr-13858	1786	16	and	and	CCONJ
cblr-13858	1786	17	the	the	DET
cblr-13858	1786	18	justifications	justification	NOUN
cblr-13858	1786	19	for	for	ADP
cblr-13858	1786	20	exemptions	exemption	NOUN
cblr-13858	1786	21	from	from	ADP
cblr-13858	1786	22	the	the	DET
cblr-13858	1786	23	registration	registration	NOUN
cblr-13858	1786	24	requirement	requirement	NOUN
cblr-13858	1786	25	)	)	PUNCT
cblr-13858	1786	26	.	.	PUNCT
cblr-13858	1787	1	.o	.o	PROPN
cblr-13858	1788	1	troy	troy	PROPN
cblr-13858	1788	2	a.	a.	PROPN
cblr-13858	1788	3	paredes	paredes	PROPN
cblr-13858	1788	4	,	,	PUNCT
cblr-13858	1788	5	on	on	ADP
cblr-13858	1788	6	the	the	DET
cblr-13858	1788	7	decision	decision	NOUN
cblr-13858	1788	8	to	to	PART
cblr-13858	1788	9	regulate	regulate	VERB
cblr-13858	1788	10	hedge	hedge	ADJ
cblr-13858	1788	11	funds	fund	NOUN
cblr-13858	1788	12	:	:	PUNCT
cblr-13858	1788	13	the	the	DET
cblr-13858	1788	14	sec	sec	PROPN
cblr-13858	1788	15	's	's	PART
cblr-13858	1788	16	regulatory	regulatory	ADJ
cblr-13858	1788	17	philosophy	philosophy	NOUN
cblr-13858	1788	18	,	,	PUNCT
cblr-13858	1788	19	style	style	NOUN
cblr-13858	1788	20	,	,	PUNCT
cblr-13858	1788	21	and	and	CCONJ
cblr-13858	1788	22	mission	mission	NOUN
cblr-13858	1788	23	,	,	PUNCT
cblr-13858	1788	24	2006	2006	NUM
cblr-13858	1788	25	u.	u.	PROPN
cblr-13858	1788	26	ill	ill	PROPN
cblr-13858	1788	27	.	.	PUNCT
cblr-13858	1789	1	l.	l.	PROPN
cblr-13858	1789	2	rev	rev	PROPN
cblr-13858	1789	3	.	.	PROPN
cblr-13858	1789	4	975	975	NUM
cblr-13858	1789	5	,	,	PUNCT
cblr-13858	1789	6	1005	1005	NUM
cblr-13858	1789	7	(	(	PUNCT
cblr-13858	1789	8	2006	2006	NUM
cblr-13858	1789	9	)	)	PUNCT
cblr-13858	1789	10	.	.	PUNCT
cblr-13858	1790	1	see	see	VERB
cblr-13858	1790	2	also	also	ADV
cblr-13858	1790	3	stephen	stephen	PROPN
cblr-13858	1790	4	choi	choi	PROPN
cblr-13858	1790	5	,	,	PUNCT
cblr-13858	1790	6	regulating	regulate	VERB
cblr-13858	1790	7	investors	investor	NOUN
cblr-13858	1790	8	,	,	PUNCT
cblr-13858	1790	9	not	not	PART
cblr-13858	1790	10	issuers	issuer	NOUN
cblr-13858	1790	11	:	:	PUNCT
cblr-13858	1790	12	a	a	DET
cblr-13858	1790	13	market	market	NOUN
cblr-13858	1790	14	-	-	PUNCT
cblr-13858	1790	15	based	base	VERB
cblr-13858	1790	16	proposal	proposal	NOUN
cblr-13858	1790	17	,	,	PUNCT
cblr-13858	1790	18	88	88	NUM
cblr-13858	1790	19	calf	calf	NOUN
cblr-13858	1790	20	.	.	PUNCT
cblr-13858	1791	1	l.	l.	PROPN
cblr-13858	1791	2	rev	rev	PROPN
cblr-13858	1791	3	.	.	PROPN
cblr-13858	1791	4	279	279	NUM
cblr-13858	1791	5	,	,	PUNCT
cblr-13858	1791	6	280	280	NUM
cblr-13858	1791	7	(	(	PUNCT
cblr-13858	1791	8	2000	2000	NUM
cblr-13858	1791	9	)	)	PUNCT
cblr-13858	1791	10	(	(	PUNCT
cblr-13858	1791	11	"	"	PUNCT
cblr-13858	1791	12	securities	security	NOUN
cblr-13858	1791	13	regulation	regulation	NOUN
cblr-13858	1791	14	in	in	ADP
cblr-13858	1791	15	the	the	DET
cblr-13858	1791	16	united	united	PROPN
cblr-13858	1791	17	states	states	PROPN
cblr-13858	1791	18	revolves	revolve	VERB
cblr-13858	1791	19	around	around	ADP
cblr-13858	1791	20	investor	investor	NOUN
cblr-13858	1791	21	protection	protection	NOUN
cblr-13858	1791	22	.	.	PUNCT
cblr-13858	1792	1	"	"	PUNCT
cblr-13858	1792	2	)	)	PUNCT
cblr-13858	1792	3	.	.	PUNCT
cblr-13858	1793	1	51	51	NUM
cblr-13858	1793	2	,	,	PUNCT
cblr-13858	1793	3	investment	investment	NOUN
cblr-13858	1793	4	advisers	adviser	NOUN
cblr-13858	1793	5	act	act	VERB
cblr-13858	1793	6	of	of	ADP
cblr-13858	1793	7	1940	1940	NUM
cblr-13858	1793	8	§	§	PROPN
cblr-13858	1793	9	203(c	203(c	PROPN
cblr-13858	1793	10	)	)	PUNCT
cblr-13858	1793	11	,	,	PUNCT
cblr-13858	1793	12	15	15	NUM
cblr-13858	1793	13	u.s.c	u.s.c	ADJ
cblr-13858	1793	14	.	.	PUNCT
cblr-13858	1794	1	§	§	PROPN
cblr-13858	1794	2	80b-2(c	80b-2(c	NUM
cblr-13858	1794	3	)	)	PUNCT
cblr-13858	1794	4	(	(	PUNCT
cblr-13858	1794	5	2010	2010	NUM
cblr-13858	1794	6	)	)	PUNCT
cblr-13858	1794	7	;	;	PUNCT
cblr-13858	1794	8	investment	investment	NOUN
cblr-13858	1794	9	company	company	NOUN
cblr-13858	1794	10	act	act	NOUN
cblr-13858	1794	11	of	of	ADP
cblr-13858	1794	12	1940	1940	NUM
cblr-13858	1794	13	§	§	PROPN
cblr-13858	1794	14	2(c	2(c	NUM
cblr-13858	1794	15	)	)	PUNCT
cblr-13858	1794	16	,	,	PUNCT
cblr-13858	1794	17	15	15	NUM
cblr-13858	1794	18	u.s.c	u.s.c	ADJ
cblr-13858	1794	19	.	.	PUNCT
cblr-13858	1795	1	§	§	PROPN
cblr-13858	1795	2	80a-2(c	80a-2(c	NUM
cblr-13858	1795	3	)	)	PUNCT
cblr-13858	1795	4	(	(	PUNCT
cblr-13858	1795	5	2010	2010	NUM
cblr-13858	1795	6	)	)	PUNCT
cblr-13858	1795	7	;	;	PUNCT
cblr-13858	1795	8	.	.	PUNCT
cblr-13858	1796	1	securities	security	NOUN
cblr-13858	1796	2	act	act	PROPN
cblr-13858	1796	3	of	of	ADP
cblr-13858	1796	4	1933	1933	NUM
cblr-13858	1796	5	§	§	PROPN
cblr-13858	1796	6	2(b	2(b	NUM
cblr-13858	1796	7	)	)	PUNCT
cblr-13858	1796	8	,	,	PUNCT
cblr-13858	1796	9	15	15	NUM
cblr-13858	1796	10	u.s.c	u.s.c	ADJ
cblr-13858	1796	11	.	.	PUNCT
cblr-13858	1797	1	§	§	PROPN
cblr-13858	1797	2	77(b	77(b	PROPN
cblr-13858	1797	3	)	)	PUNCT
cblr-13858	1797	4	(	(	PUNCT
cblr-13858	1797	5	2010	2010	NUM
cblr-13858	1797	6	)	)	PUNCT
cblr-13858	1797	7	;	;	PUNCT
cblr-13858	1797	8	securities	security	NOUN
cblr-13858	1797	9	exchange	exchange	PROPN
cblr-13858	1797	10	act	act	NOUN
cblr-13858	1797	11	of	of	ADP
cblr-13858	1797	12	1934	1934	NUM
cblr-13858	1797	13	§	§	PROPN
cblr-13858	1797	14	3(f	3(f	NUM
cblr-13858	1797	15	)	)	PUNCT
cblr-13858	1797	16	,	,	PUNCT
cblr-13858	1797	17	15	15	NUM
cblr-13858	1797	18	u.s.c	u.s.c	ADJ
cblr-13858	1797	19	.	.	PUNCT
cblr-13858	1798	1	§	§	PROPN
cblr-13858	1798	2	78c(f	78c(f	NUM
cblr-13858	1798	3	)	)	PUNCT
cblr-13858	1798	4	(	(	PUNCT
cblr-13858	1798	5	2010	2010	NUM
cblr-13858	1798	6	)	)	PUNCT
cblr-13858	1798	7	.	.	PUNCT
cblr-13858	1799	1	512	512	NUM
cblr-13858	1799	2	paredes	parede	NOUN
cblr-13858	1799	3	,	,	PUNCT
cblr-13858	1799	4	supra	supra	PROPN
cblr-13858	1799	5	note	note	PROPN
cblr-13858	1799	6	510	510	NUM
cblr-13858	1799	7	,	,	PUNCT
cblr-13858	1799	8	at	at	ADP
cblr-13858	1799	9	1005	1005	NUM
cblr-13858	1799	10	.	.	PUNCT
cblr-13858	1800	1	[	[	X
cblr-13858	1800	2	vol	vol	NOUN
cblr-13858	1800	3	.	.	PUNCT
cblr-13858	1800	4	201298	201298	NUM
cblr-13858	1800	5	col	col	PROPN
cblr-13858	1800	6	umbia	umbia	PROPN
cblr-13858	1800	7	b	b	PROPN
cblr-13858	1800	8	usiness	usiness	PROPN
cblr-13858	1800	9	la	la	PROPN
cblr-13858	1800	10	w	w	PROPN
cblr-13858	1800	11	re	re	PROPN
cblr-13858	1800	12	vie	vie	PROPN
cblr-13858	1800	13	w	w	PROPN
cblr-13858	1800	14	sec	sec	PROPN
cblr-13858	1800	15	usually	usually	ADV
cblr-13858	1800	16	tilts	tilt	VERB
cblr-13858	1800	17	the	the	DET
cblr-13858	1800	18	balance	balance	NOUN
cblr-13858	1800	19	in	in	ADP
cblr-13858	1800	20	favor	favor	NOUN
cblr-13858	1800	21	of	of	ADP
cblr-13858	1800	22	investor	investor	NOUN
cblr-13858	1800	23	protection.a	protection.a	NOUN
cblr-13858	1800	24	a	a	DET
cblr-13858	1800	25	crowdfunding	crowdfunding	NOUN
cblr-13858	1800	26	exemption	exemption	NOUN
cblr-13858	1800	27	would	would	AUX
cblr-13858	1800	28	undoubtedly	undoubtedly	ADV
cblr-13858	1800	29	facilitate	facilitate	VERB
cblr-13858	1800	30	capital	capital	NOUN
cblr-13858	1800	31	formation	formation	NOUN
cblr-13858	1800	32	.	.	PUNCT
cblr-13858	1801	1	very	very	ADV
cblr-13858	1801	2	small	small	ADJ
cblr-13858	1801	3	businesses	business	NOUN
cblr-13858	1801	4	,	,	PUNCT
cblr-13858	1801	5	particularly	particularly	ADV
cblr-13858	1801	6	startups	startup	NOUN
cblr-13858	1801	7	,	,	PUNCT
cblr-13858	1801	8	have	have	VERB
cblr-13858	1801	9	an	an	DET
cblr-13858	1801	10	unmet	unmet	NOUN
cblr-13858	1801	11	need	need	NOUN
cblr-13858	1801	12	for	for	ADP
cblr-13858	1801	13	capital	capital	NOUN
cblr-13858	1801	14	that	that	PRON
cblr-13858	1801	15	securities	security	NOUN
cblr-13858	1801	16	crowdfunding	crowdfunding	NOUN
cblr-13858	1801	17	would	would	AUX
cblr-13858	1801	18	help	help	VERB
cblr-13858	1801	19	to	to	PART
cblr-13858	1801	20	meet	meet	VERB
cblr-13858	1801	21	.	.	PUNCT
cblr-13858	1802	1	the	the	DET
cblr-13858	1802	2	investor	investor	NOUN
cblr-13858	1802	3	-	-	PUNCT
cblr-13858	1802	4	protection	protection	NOUN
cblr-13858	1802	5	consequences	consequence	NOUN
cblr-13858	1802	6	of	of	ADP
cblr-13858	1802	7	a	a	DET
cblr-13858	1802	8	crowdfunding	crowdfunding	NOUN
cblr-13858	1802	9	exemption	exemption	NOUN
cblr-13858	1802	10	,	,	PUNCT
cblr-13858	1802	11	however	however	ADV
cblr-13858	1802	12	,	,	PUNCT
cblr-13858	1802	13	are	be	AUX
cblr-13858	1802	14	less	less	ADV
cblr-13858	1802	15	clear	clear	ADJ
cblr-13858	1802	16	.	.	PUNCT
cblr-13858	1803	1	small	small	ADJ
cblr-13858	1803	2	business	business	NOUN
cblr-13858	1803	3	investments	investment	NOUN
cblr-13858	1803	4	are	be	AUX
cblr-13858	1803	5	inherently	inherently	ADV
cblr-13858	1803	6	risky	risky	ADJ
cblr-13858	1803	7	,	,	PUNCT
cblr-13858	1803	8	posing	pose	VERB
cblr-13858	1803	9	not	not	PART
cblr-13858	1803	10	only	only	ADV
cblr-13858	1803	11	greater	great	ADJ
cblr-13858	1803	12	risks	risk	NOUN
cblr-13858	1803	13	of	of	ADP
cblr-13858	1803	14	business	business	NOUN
cblr-13858	1803	15	failure	failure	NOUN
cblr-13858	1803	16	,	,	PUNCT
cblr-13858	1803	17	but	but	CCONJ
cblr-13858	1803	18	also	also	ADV
cblr-13858	1803	19	of	of	ADP
cblr-13858	1803	20	fraud	fraud	NOUN
cblr-13858	1803	21	and	and	CCONJ
cblr-13858	1803	22	overreaching	overreach	VERB
cblr-13858	1803	23	by	by	ADP
cblr-13858	1803	24	controlling	control	VERB
cblr-13858	1803	25	entrepreneurs	entrepreneur	NOUN
cblr-13858	1803	26	.	.	PUNCT
cblr-13858	1804	1	a	a	DET
cblr-13858	1804	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1804	3	exemption	exemption	NOUN
cblr-13858	1804	4	would	would	AUX
cblr-13858	1804	5	expose	expose	VERB
cblr-13858	1804	6	members	member	NOUN
cblr-13858	1804	7	of	of	ADP
cblr-13858	1804	8	the	the	DET
cblr-13858	1804	9	general	general	ADJ
cblr-13858	1804	10	public	public	NOUN
cblr-13858	1804	11	to	to	ADP
cblr-13858	1804	12	those	those	DET
cblr-13858	1804	13	risks	risk	NOUN
cblr-13858	1804	14	without	without	ADP
cblr-13858	1804	15	ensuring	ensure	VERB
cblr-13858	1804	16	that	that	SCONJ
cblr-13858	1804	17	they	they	PRON
cblr-13858	1804	18	have	have	VERB
cblr-13858	1804	19	the	the	DET
cblr-13858	1804	20	financial	financial	ADJ
cblr-13858	1804	21	sophistication	sophistication	NOUN
cblr-13858	1804	22	necessary	necessary	ADJ
cblr-13858	1804	23	to	to	PART
cblr-13858	1804	24	deal	deal	VERB
cblr-13858	1804	25	with	with	ADP
cblr-13858	1804	26	them	they	PRON
cblr-13858	1804	27	.	.	PUNCT
cblr-13858	1805	1	the	the	DET
cblr-13858	1805	2	structure	structure	NOUN
cblr-13858	1805	3	of	of	ADP
cblr-13858	1805	4	crowdfunding	crowdfunding	NOUN
cblr-13858	1805	5	might	might	AUX
cblr-13858	1805	6	,	,	PUNCT
cblr-13858	1805	7	to	to	ADP
cblr-13858	1805	8	some	some	DET
cblr-13858	1805	9	extent	extent	NOUN
cblr-13858	1805	10	,	,	PUNCT
cblr-13858	1805	11	ameliorate	ameliorate	VERB
cblr-13858	1805	12	those	those	DET
cblr-13858	1805	13	risks	risk	NOUN
cblr-13858	1805	14	,	,	PUNCT
cblr-13858	1805	15	but	but	CCONJ
cblr-13858	1805	16	investors	investor	NOUN
cblr-13858	1805	17	would	would	AUX
cblr-13858	1805	18	still	still	ADV
cblr-13858	1805	19	face	face	VERB
cblr-13858	1805	20	a	a	DET
cblr-13858	1805	21	significant	significant	ADJ
cblr-13858	1805	22	chance	chance	NOUN
cblr-13858	1805	23	of	of	ADP
cblr-13858	1805	24	loss	loss	NOUN
cblr-13858	1805	25	.	.	PUNCT
cblr-13858	1806	1	but	but	CCONJ
cblr-13858	1806	2	this	this	DET
cblr-13858	1806	3	risk	risk	NOUN
cblr-13858	1806	4	of	of	ADP
cblr-13858	1806	5	loss	loss	NOUN
cblr-13858	1806	6	is	be	AUX
cblr-13858	1806	7	inherent	inherent	ADJ
cblr-13858	1806	8	in	in	ADP
cblr-13858	1806	9	small	small	ADJ
cblr-13858	1806	10	business	business	NOUN
cblr-13858	1806	11	startups	startup	NOUN
cblr-13858	1806	12	.	.	PUNCT
cblr-13858	1807	1	the	the	DET
cblr-13858	1807	2	only	only	ADJ
cblr-13858	1807	3	way	way	NOUN
cblr-13858	1807	4	to	to	PART
cblr-13858	1807	5	completely	completely	ADV
cblr-13858	1807	6	eliminate	eliminate	VERB
cblr-13858	1807	7	it	it	PRON
cblr-13858	1807	8	would	would	AUX
cblr-13858	1807	9	be	be	AUX
cblr-13858	1807	10	to	to	PART
cblr-13858	1807	11	bar	bar	VERB
cblr-13858	1807	12	small	small	ADJ
cblr-13858	1807	13	business	business	NOUN
cblr-13858	1807	14	financing	financing	NOUN
cblr-13858	1807	15	altogether	altogether	ADV
cblr-13858	1807	16	.	.	PUNCT
cblr-13858	1808	1	crowdfunding	crowdfunde	VERB
cblr-13858	1808	2	exemption	exemption	NOUN
cblr-13858	1808	3	proposals	proposal	NOUN
cblr-13858	1808	4	are	be	AUX
cblr-13858	1808	5	structured	structure	VERB
cblr-13858	1808	6	so	so	SCONJ
cblr-13858	1808	7	that	that	SCONJ
cblr-13858	1808	8	losses	loss	NOUN
cblr-13858	1808	9	to	to	ADP
cblr-13858	1808	10	any	any	DET
cblr-13858	1808	11	single	single	ADJ
cblr-13858	1808	12	investor	investor	NOUN
cblr-13858	1808	13	would	would	AUX
cblr-13858	1808	14	be	be	AUX
cblr-13858	1808	15	relatively	relatively	ADV
cblr-13858	1808	16	small	small	ADJ
cblr-13858	1808	17	and	and	CCONJ
cblr-13858	1808	18	bearable	bearable	ADJ
cblr-13858	1808	19	.	.	PUNCT
cblr-13858	1809	1	moreover	moreover	ADV
cblr-13858	1809	2	,	,	PUNCT
cblr-13858	1809	3	the	the	DET
cblr-13858	1809	4	public	public	NOUN
cblr-13858	1809	5	is	be	AUX
cblr-13858	1809	6	already	already	ADV
cblr-13858	1809	7	contributing	contribute	VERB
cblr-13858	1809	8	billions	billion	NOUN
cblr-13858	1809	9	of	of	ADP
cblr-13858	1809	10	dollars	dollar	NOUN
cblr-13858	1809	11	to	to	ADP
cblr-13858	1809	12	non	non	ADJ
cblr-13858	1809	13	-	-	ADJ
cblr-13858	1809	14	securities	security	NOUN
cblr-13858	1809	15	crowdfunding	crowdfunding	NOUN
cblr-13858	1809	16	,	,	PUNCT
cblr-13858	1809	17	and	and	CCONJ
cblr-13858	1809	18	those	those	DET
cblr-13858	1809	19	crowdfunding	crowdfunde	VERB
cblr-13858	1809	20	investments	investment	NOUN
cblr-13858	1809	21	are	be	AUX
cblr-13858	1809	22	subject	subject	ADJ
cblr-13858	1809	23	to	to	ADP
cblr-13858	1809	24	the	the	DET
cblr-13858	1809	25	same	same	ADJ
cblr-13858	1809	26	risks	risk	NOUN
cblr-13858	1809	27	as	as	ADP
cblr-13858	1809	28	securities	security	NOUN
cblr-13858	1809	29	crowdfunding	crowdfunding	NOUN
cblr-13858	1809	30	.	.	PUNCT
cblr-13858	1810	1	a	a	DET
cblr-13858	1810	2	securities	security	NOUN
cblr-13858	1810	3	crowdfunding	crowdfunding	NOUN
cblr-13858	1810	4	exemption	exemption	NOUN
cblr-13858	1810	5	would	would	AUX
cblr-13858	1810	6	,	,	PUNCT
cblr-13858	1810	7	therefore	therefore	ADV
cblr-13858	1810	8	,	,	PUNCT
cblr-13858	1810	9	not	not	PART
cblr-13858	1810	10	open	open	VERB
cblr-13858	1810	11	investors	investor	NOUN
cblr-13858	1810	12	to	to	ADP
cblr-13858	1810	13	new	new	ADJ
cblr-13858	1810	14	risks	risk	NOUN
cblr-13858	1810	15	,	,	PUNCT
cblr-13858	1810	16	but	but	CCONJ
cblr-13858	1810	17	merely	merely	ADV
cblr-13858	1810	18	allow	allow	VERB
cblr-13858	1810	19	entrepreneurs	entrepreneur	NOUN
cblr-13858	1810	20	to	to	PART
cblr-13858	1810	21	offer	offer	VERB
cblr-13858	1810	22	a	a	DET
cblr-13858	1810	23	higher	high	ADJ
cblr-13858	1810	24	return	return	NOUN
cblr-13858	1810	25	to	to	PART
cblr-13858	1810	26	offset	offset	VERB
cblr-13858	1810	27	those	those	DET
cblr-13858	1810	28	risks	risk	NOUN
cblr-13858	1810	29	.	.	PUNCT
cblr-13858	1811	1	the	the	DET
cblr-13858	1811	2	net	net	ADJ
cblr-13858	1811	3	effect	effect	NOUN
cblr-13858	1811	4	on	on	ADP
cblr-13858	1811	5	investors	investor	NOUN
cblr-13858	1811	6	could	could	AUX
cblr-13858	1811	7	,	,	PUNCT
cblr-13858	1811	8	therefore	therefore	ADV
cblr-13858	1811	9	,	,	PUNCT
cblr-13858	1811	10	be	be	AUX
cblr-13858	1811	11	positive	positive	ADJ
cblr-13858	1811	12	.	.	PUNCT
cblr-13858	1812	1	513	513	NUM
cblr-13858	1813	1	i	i	PRON
cblr-13858	1813	2	d.	d.	PROPN
cblr-13858	1813	3	at	at	ADP
cblr-13858	1813	4	1006	1006	NUM
cblr-13858	1813	5	.	.	PUNCT
cblr-13858	1814	1	according	accord	VERB
cblr-13858	1814	2	to	to	ADP
cblr-13858	1814	3	paredes	paredes	PROPN
cblr-13858	1814	4	,	,	PUNCT
cblr-13858	1814	5	now	now	ADV
cblr-13858	1814	6	himself	himself	PRON
cblr-13858	1814	7	an	an	DET
cblr-13858	1814	8	sec	sec	PROPN
cblr-13858	1814	9	commissioner	commissioner	NOUN
cblr-13858	1814	10	,	,	PUNCT
cblr-13858	1814	11	securities	security	NOUN
cblr-13858	1814	12	regulators	regulator	NOUN
cblr-13858	1814	13	"	"	PUNCT
cblr-13858	1814	14	have	have	VERB
cblr-13858	1814	15	an	an	DET
cblr-13858	1814	16	exaggerated	exaggerated	ADJ
cblr-13858	1814	17	concern	concern	NOUN
cblr-13858	1814	18	over	over	ADP
cblr-13858	1814	19	fraud	fraud	NOUN
cblr-13858	1814	20	and	and	CCONJ
cblr-13858	1814	21	investor	investor	NOUN
cblr-13858	1814	22	losses	loss	NOUN
cblr-13858	1814	23	and	and	CCONJ
cblr-13858	1814	24	,	,	PUNCT
cblr-13858	1814	25	at	at	ADP
cblr-13858	1814	26	least	least	ADJ
cblr-13858	1814	27	by	by	ADP
cblr-13858	1814	28	comparison	comparison	NOUN
cblr-13858	1814	29	,	,	PUNCT
cblr-13858	1814	30	a	a	DET
cblr-13858	1814	31	dulled	dull	VERB
cblr-13858	1814	32	sensitivity	sensitivity	NOUN
cblr-13858	1814	33	to	to	ADP
cblr-13858	1814	34	the	the	DET
cblr-13858	1814	35	costs	cost	NOUN
cblr-13858	1814	36	of	of	ADP
cblr-13858	1814	37	greater	great	ADJ
cblr-13858	1814	38	investor	investor	NOUN
cblr-13858	1814	39	protection	protection	NOUN
cblr-13858	1814	40	.	.	PUNCT
cblr-13858	1814	41	"	"	PUNCT
cblr-13858	1815	1	i	i	PRON
cblr-13858	1815	2	d.	d.	PROPN
cblr-13858	1815	3	at	at	ADP
cblr-13858	1815	4	1009	1009	NUM
cblr-13858	1815	5	.	.	PUNCT
cblr-13858	1816	1	recently	recently	ADV
cblr-13858	1816	2	,	,	PUNCT
cblr-13858	1816	3	several	several	ADJ
cblr-13858	1816	4	of	of	ADP
cblr-13858	1816	5	the	the	DET
cblr-13858	1816	6	sec	sec	PROPN
cblr-13858	1816	7	's	's	PART
cblr-13858	1816	8	rules	rule	NOUN
cblr-13858	1816	9	have	have	AUX
cblr-13858	1816	10	been	be	AUX
cblr-13858	1816	11	overturned	overturn	VERB
cblr-13858	1816	12	because	because	SCONJ
cblr-13858	1816	13	of	of	ADP
cblr-13858	1816	14	the	the	DET
cblr-13858	1816	15	commission	commission	NOUN
cblr-13858	1816	16	's	's	PART
cblr-13858	1816	17	failure	failure	NOUN
cblr-13858	1816	18	to	to	PART
cblr-13858	1816	19	adequately	adequately	ADV
cblr-13858	1816	20	consider	consider	VERB
cblr-13858	1816	21	the	the	DET
cblr-13858	1816	22	cost	cost	NOUN
cblr-13858	1816	23	of	of	ADP
cblr-13858	1816	24	the	the	DET
cblr-13858	1816	25	rules	rule	NOUN
cblr-13858	1816	26	.	.	PUNCT
cblr-13858	1817	1	see	see	VERB
cblr-13858	1817	2	bus	bus	NOUN
cblr-13858	1817	3	.	.	PUNCT
cblr-13858	1818	1	roundtable	roundtable	PROPN
cblr-13858	1818	2	v.	v.	ADP
cblr-13858	1818	3	sec	sec	PROPN
cblr-13858	1818	4	,	,	PUNCT
cblr-13858	1818	5	647	647	NUM
cblr-13858	1818	6	f.3d	f.3d	NUM
cblr-13858	1818	7	1144	1144	NUM
cblr-13858	1818	8	(	(	PUNCT
cblr-13858	1818	9	d.c	d.c	PROPN
cblr-13858	1818	10	.	.	PROPN
cblr-13858	1818	11	cir	cir	PROPN
cblr-13858	1818	12	.	.	PROPN
cblr-13858	1819	1	2011	2011	NUM
cblr-13858	1819	2	)	)	PUNCT
cblr-13858	1820	1	;	;	PUNCT
cblr-13858	1820	2	am	be	AUX
cblr-13858	1820	3	.	.	PUNCT
cblr-13858	1821	1	equity	equity	NOUN
cblr-13858	1821	2	inv	inv	PROPN
cblr-13858	1821	3	.	.	PUNCT
cblr-13858	1822	1	life	life	NOUN
cblr-13858	1822	2	ins	ins	PROPN
cblr-13858	1822	3	.	.	PUNCT
cblr-13858	1822	4	co.	co.	PROPN
cblr-13858	1822	5	v.	v.	ADP
cblr-13858	1822	6	sec	sec	PROPN
cblr-13858	1822	7	,	,	PUNCT
cblr-13858	1822	8	613	613	NUM
cblr-13858	1822	9	f.3d	f.3d	NUM
cblr-13858	1822	10	166	166	NUM
cblr-13858	1822	11	(	(	PUNCT
cblr-13858	1822	12	d.c	d.c	PROPN
cblr-13858	1822	13	.	.	PROPN
cblr-13858	1822	14	cir	cir	PROPN
cblr-13858	1822	15	.	.	PROPN
cblr-13858	1822	16	2010	2010	NUM
cblr-13858	1822	17	)	)	PUNCT
cblr-13858	1822	18	;	;	PUNCT
cblr-13858	1822	19	chamber	chamber	PROPN
cblr-13858	1822	20	of	of	ADP
cblr-13858	1822	21	commerce	commerce	PROPN
cblr-13858	1822	22	v.	v.	PROPN
cblr-13858	1822	23	sec	sec	PROPN
cblr-13858	1822	24	,	,	PUNCT
cblr-13858	1822	25	443	443	NUM
cblr-13858	1822	26	f.3d	f.3d	NUM
cblr-13858	1822	27	890	890	NUM
cblr-13858	1822	28	(	(	PUNCT
cblr-13858	1822	29	d.c	d.c	PROPN
cblr-13858	1822	30	.	.	PROPN
cblr-13858	1822	31	cir	cir	PROPN
cblr-13858	1822	32	.	.	PUNCT
cblr-13858	1822	33	2006	2006	NUM
cblr-13858	1822	34	)	)	PUNCT
cblr-13858	1822	35	;	;	PUNCT
cblr-13858	1822	36	chamber	chamber	PROPN
cblr-13858	1822	37	of	of	ADP
cblr-13858	1822	38	commerce	commerce	PROPN
cblr-13858	1822	39	v.	v.	PROPN
cblr-13858	1822	40	sec	sec	PROPN
cblr-13858	1822	41	,	,	PUNCT
cblr-13858	1822	42	412	412	NUM
cblr-13858	1822	43	f.3d	f.3d	NUM
cblr-13858	1822	44	133	133	NUM
cblr-13858	1822	45	(	(	PUNCT
cblr-13858	1822	46	d.c	d.c	PROPN
cblr-13858	1822	47	.	.	PROPN
cblr-13858	1822	48	cir	cir	PROPN
cblr-13858	1822	49	.	.	PROPN
cblr-13858	1822	50	2005	2005	NUM
cblr-13858	1822	51	)	)	PUNCT
cblr-13858	1822	52	.	.	PUNCT
cblr-13858	1823	1	99no	99no	NOUN
cblr-13858	1823	2	.	.	PUNCT
cblr-13858	1824	1	1	1	NUM
cblr-13858	1824	2	:	:	SYM
cblr-13858	1824	3	1	1	NUM
cblr-13858	1824	4	]	]	X
cblr-13858	1824	5	cro0wd	cro0wd	PROPN
cblr-13858	1824	6	funding	funding	NOUN
cblr-13858	1824	7	and	and	CCONJ
cblr-13858	1824	8	securities	security	NOUN
cblr-13858	1824	9	la	la	PROPN
cblr-13858	1824	10	ws	ws	PROPN
cblr-13858	1824	11	a.	a.	PROPN
cblr-13858	1824	12	capital	capital	PROPN
cblr-13858	1824	13	formation	formation	NOUN
cblr-13858	1824	14	:	:	PUNCT
cblr-13858	1824	15	the	the	DET
cblr-13858	1824	16	need	need	NOUN
cblr-13858	1824	17	for	for	ADP
cblr-13858	1824	18	a	a	DET
cblr-13858	1824	19	crowdfunding	crowdfunding	NOUN
cblr-13858	1824	20	exemption	exemption	NOUN
cblr-13858	1824	21	small	small	ADJ
cblr-13858	1824	22	businesses	business	NOUN
cblr-13858	1824	23	face	face	VERB
cblr-13858	1824	24	a	a	DET
cblr-13858	1824	25	capital	capital	NOUN
cblr-13858	1824	26	funding	funding	NOUN
cblr-13858	1824	27	gap	gap	NOUN
cblr-13858	1824	28	.	.	PUNCT
cblr-13858	1825	1	"	"	PUNCT
cblr-13858	1825	2	"	"	PUNCT
cblr-13858	1825	3	some	some	DET
cblr-13858	1825	4	estimates	estimate	NOUN
cblr-13858	1825	5	indicate	indicate	VERB
cblr-13858	1825	6	that	that	SCONJ
cblr-13858	1825	7	the	the	DET
cblr-13858	1825	8	financial	financial	ADJ
cblr-13858	1825	9	markets	market	NOUN
cblr-13858	1825	10	fall	fall	VERB
cblr-13858	1825	11	$	$	SYM
cblr-13858	1825	12	60	60	NUM
cblr-13858	1825	13	billion	billion	NUM
cblr-13858	1825	14	short	short	ADJ
cblr-13858	1825	15	each	each	DET
cblr-13858	1825	16	year	year	NOUN
cblr-13858	1825	17	"	"	PUNCT
cblr-13858	1825	18	in	in	ADP
cblr-13858	1825	19	meeting	meet	VERB
cblr-13858	1825	20	the	the	DET
cblr-13858	1825	21	demand	demand	NOUN
cblr-13858	1825	22	of	of	ADP
cblr-13858	1825	23	small	small	ADJ
cblr-13858	1825	24	companies	company	NOUN
cblr-13858	1825	25	for	for	ADP
cblr-13858	1825	26	early	early	ADJ
cblr-13858	1825	27	-	-	PUNCT
cblr-13858	1825	28	stage	stage	NOUN
cblr-13858	1825	29	private	private	ADJ
cblr-13858	1825	30	equity	equity	NOUN
cblr-13858	1825	31	financing	financing	NOUN
cblr-13858	1825	32	.	.	PUNCT
cblr-13858	1826	1	"	"	PUNCT
cblr-13858	1826	2	"	"	PUNCT
cblr-13858	1826	3	'	'	PUNCT
cblr-13858	1826	4	equity	equity	NOUN
cblr-13858	1826	5	capital	capital	NOUN
cblr-13858	1826	6	is	be	AUX
cblr-13858	1826	7	"	"	PUNCT
cblr-13858	1826	8	widely	widely	ADV
cblr-13858	1826	9	viewed	view	VERB
cblr-13858	1826	10	as	as	ADP
cblr-13858	1826	11	less	less	ADV
cblr-13858	1826	12	accessible	accessible	ADJ
cblr-13858	1826	13	and	and	CCONJ
cblr-13858	1826	14	more	more	ADV
cblr-13858	1826	15	costly	costly	ADJ
cblr-13858	1826	16	per	per	ADP
cblr-13858	1826	17	dollar	dollar	NOUN
cblr-13858	1826	18	raised	raise	VERB
cblr-13858	1826	19	for	for	ADP
cblr-13858	1826	20	small	small	ADJ
cblr-13858	1826	21	businesses	business	NOUN
cblr-13858	1826	22	compared	compare	VERB
cblr-13858	1826	23	with	with	ADP
cblr-13858	1826	24	large	large	ADJ
cblr-13858	1826	25	businesses	business	NOUN
cblr-13858	1826	26	.	.	PUNCT
cblr-13858	1827	1	"516	"516	NOUN
cblr-13858	1827	2	finding	find	VERB
cblr-13858	1827	3	funding	funding	NOUN
cblr-13858	1827	4	is	be	AUX
cblr-13858	1827	5	particularly	particularly	ADV
cblr-13858	1827	6	difficult	difficult	ADJ
cblr-13858	1827	7	for	for	SCONJ
cblr-13858	1827	8	businesses	business	NOUN
cblr-13858	1827	9	seeking	seek	VERB
cblr-13858	1827	10	to	to	PART
cblr-13858	1827	11	raise	raise	VERB
cblr-13858	1827	12	funds	fund	NOUN
cblr-13858	1827	13	in	in	ADP
cblr-13858	1827	14	the	the	DET
cblr-13858	1827	15	$	$	SYM
cblr-13858	1827	16	100,000	100,000	NUM
cblr-13858	1827	17	to	to	PART
cblr-13858	1827	18	$	$	SYM
cblr-13858	1827	19	5	5	NUM
cblr-13858	1827	20	million	million	NUM
cblr-13858	1827	21	range.s1	range.s1	NOUN
cblr-13858	1827	22	'	'	PART
cblr-13858	1827	23	many	many	ADJ
cblr-13858	1827	24	entrepreneurs	entrepreneur	NOUN
cblr-13858	1827	25	with	with	ADP
cblr-13858	1827	26	promising	promising	ADJ
cblr-13858	1827	27	projects	project	NOUN
cblr-13858	1827	28	may	may	AUX
cblr-13858	1827	29	go	go	VERB
cblr-13858	1827	30	unfunded	unfunded	ADJ
cblr-13858	1827	31	as	as	ADP
cblr-13858	1827	32	a	a	DET
cblr-13858	1827	33	result	result	NOUN
cblr-13858	1827	34	,	,	PUNCT
cblr-13858	1827	35	costing	cost	VERB
cblr-13858	1827	36	the	the	DET
cblr-13858	1827	37	united	united	PROPN
cblr-13858	1827	38	states	states	PROPN
cblr-13858	1827	39	an	an	DET
cblr-13858	1827	40	unknown	unknown	ADJ
cblr-13858	1827	41	number	number	NOUN
cblr-13858	1827	42	of	of	ADP
cblr-13858	1827	43	jobs	job	NOUN
cblr-13858	1827	44	and	and	CCONJ
cblr-13858	1827	45	innovations.18	innovations.18	ADJ
cblr-13858	1827	46	early	early	ADJ
cblr-13858	1827	47	-	-	PUNCT
cblr-13858	1827	48	stage	stage	NOUN
cblr-13858	1827	49	entrepreneurial	entrepreneurial	ADJ
cblr-13858	1827	50	activity	activity	NOUN
cblr-13858	1827	51	in	in	ADP
cblr-13858	1827	52	the	the	DET
cblr-13858	1827	53	united	united	PROPN
cblr-13858	1827	54	states	states	PROPN
cblr-13858	1827	55	is	be	AUX
cblr-13858	1827	56	steadily	steadily	ADV
cblr-13858	1827	57	declining	decline	VERB
cblr-13858	1827	58	,	,	PUNCT
cblr-13858	1827	59	and	and	CCONJ
cblr-13858	1827	60	the	the	DET
cblr-13858	1827	61	united	united	PROPN
cblr-13858	1827	62	states	states	PROPN
cblr-13858	1827	63	has	have	AUX
cblr-13858	1827	64	lost	lose	VERB
cblr-13858	1827	65	its	its	PRON
cblr-13858	1827	66	lead	lead	NOUN
cblr-13858	1827	67	over	over	ADP
cblr-13858	1827	68	other	other	ADJ
cblr-13858	1827	69	innovation	innovation	NOUN
cblr-13858	1827	70	-	-	PUNCT
cblr-13858	1827	71	driven	drive	VERB
cblr-13858	1827	72	economies.1	economies.1	NOUN
cblr-13858	1827	73	9	9	NUM
cblr-13858	1827	74	"	"	PUNCT
cblr-13858	1827	75	see	see	VERB
cblr-13858	1827	76	cable	cable	NOUN
cblr-13858	1827	77	,	,	PUNCT
cblr-13858	1828	1	supra	supra	PROPN
cblr-13858	1828	2	note	note	NOUN
cblr-13858	1828	3	254	254	NUM
cblr-13858	1828	4	,	,	PUNCT
cblr-13858	1828	5	at	at	ADP
cblr-13858	1828	6	108	108	NUM
cblr-13858	1828	7	;	;	PUNCT
cblr-13858	1828	8	jill	jill	PROPN
cblr-13858	1828	9	e.	e.	PROPN
cblr-13858	1828	10	fisch	fisch	PROPN
cblr-13858	1828	11	,	,	PUNCT
cblr-13858	1828	12	can	can	AUX
cblr-13858	1828	13	internet	internet	NOUN
cblr-13858	1828	14	offerings	offering	NOUN
cblr-13858	1828	15	bridge	bridge	VERB
cblr-13858	1828	16	the	the	DET
cblr-13858	1828	17	small	small	ADJ
cblr-13858	1828	18	business	business	NOUN
cblr-13858	1828	19	capital	capital	NOUN
cblr-13858	1828	20	barrier	barrier	NOUN
cblr-13858	1828	21	?	?	PUNCT
cblr-13858	1829	1	,	,	PUNCT
cblr-13858	1829	2	2	2	NUM
cblr-13858	1829	3	j.	j.	PROPN
cblr-13858	1829	4	small	small	PROPN
cblr-13858	1829	5	&	&	CCONJ
cblr-13858	1829	6	emerging	emerge	VERB
cblr-13858	1829	7	bus	bus	NOUN
cblr-13858	1829	8	.	.	PUNCT
cblr-13858	1830	1	l.	l.	PROPN
cblr-13858	1830	2	57	57	NUM
cblr-13858	1830	3	,	,	PUNCT
cblr-13858	1830	4	59	59	NUM
cblr-13858	1830	5	-	-	SYM
cblr-13858	1830	6	64	64	NUM
cblr-13858	1830	7	(	(	PUNCT
cblr-13858	1830	8	1998	1998	NUM
cblr-13858	1830	9	)	)	PUNCT
cblr-13858	1830	10	;	;	PUNCT
cblr-13858	1830	11	darian	darian	PROPN
cblr-13858	1830	12	m.	m.	PROPN
cblr-13858	1830	13	ibrahim	ibrahim	PROPN
cblr-13858	1830	14	,	,	PUNCT
cblr-13858	1830	15	the	the	DET
cblr-13858	1830	16	(	(	PUNCT
cblr-13858	1830	17	not	not	PART
cblr-13858	1830	18	so	so	ADV
cblr-13858	1830	19	)	)	PUNCT
cblr-13858	1830	20	puzzling	puzzle	VERB
cblr-13858	1830	21	behavior	behavior	NOUN
cblr-13858	1830	22	ofangel	ofangel	NOUN
cblr-13858	1830	23	investors	investor	NOUN
cblr-13858	1830	24	,	,	PUNCT
cblr-13858	1830	25	61	61	NUM
cblr-13858	1830	26	vand	vand	NOUN
cblr-13858	1830	27	.	.	PUNCT
cblr-13858	1831	1	l.	l.	PROPN
cblr-13858	1831	2	rev	rev	PROPN
cblr-13858	1831	3	.	.	PROPN
cblr-13858	1831	4	1405	1405	NUM
cblr-13858	1831	5	,	,	PUNCT
cblr-13858	1831	6	1417	1417	NUM
cblr-13858	1831	7	(	(	PUNCT
cblr-13858	1831	8	2008	2008	NUM
cblr-13858	1831	9	)	)	PUNCT
cblr-13858	1831	10	.	.	PUNCT
cblr-13858	1832	1	51	51	NUM
cblr-13858	1832	2	sjostrom	sjostrom	ADJ
cblr-13858	1832	3	,	,	PUNCT
cblr-13858	1832	4	supra	supra	PROPN
cblr-13858	1832	5	note	note	NOUN
cblr-13858	1832	6	198	198	NUM
cblr-13858	1832	7	,	,	PUNCT
cblr-13858	1832	8	at	at	ADP
cblr-13858	1832	9	3	3	NUM
cblr-13858	1832	10	.	.	PUNCT
cblr-13858	1832	11	516	516	NUM
cblr-13858	1832	12	gao	gao	PROPN
cblr-13858	1832	13	report	report	NOUN
cblr-13858	1832	14	,	,	PUNCT
cblr-13858	1832	15	supra	supra	PROPN
cblr-13858	1832	16	note	note	VERB
cblr-13858	1832	17	200	200	NUM
cblr-13858	1832	18	,	,	PUNCT
cblr-13858	1832	19	at	at	ADP
cblr-13858	1832	20	2	2	NUM
cblr-13858	1832	21	.	.	PUNCT
cblr-13858	1833	1	see	see	VERB
cblr-13858	1833	2	also	also	ADV
cblr-13858	1833	3	fisch	fisch	PROPN
cblr-13858	1833	4	,	,	PUNCT
cblr-13858	1833	5	supra	supra	PROPN
cblr-13858	1833	6	note	note	NOUN
cblr-13858	1833	7	514	514	NUM
cblr-13858	1833	8	,	,	PUNCT
cblr-13858	1833	9	at	at	ADP
cblr-13858	1833	10	63	63	NUM
cblr-13858	1833	11	(	(	PUNCT
cblr-13858	1833	12	small	small	ADJ
cblr-13858	1833	13	business	business	NOUN
cblr-13858	1833	14	funding	funding	NOUN
cblr-13858	1833	15	"	"	PUNCT
cblr-13858	1833	16	is	be	AUX
cblr-13858	1833	17	often	often	ADV
cblr-13858	1833	18	viewed	view	VERB
cblr-13858	1833	19	as	as	ADP
cblr-13858	1833	20	inadequate	inadequate	ADJ
cblr-13858	1833	21	"	"	PUNCT
cblr-13858	1833	22	)	)	PUNCT
cblr-13858	1833	23	;	;	PUNCT
cblr-13858	1833	24	sjostrom	sjostrom	ADJ
cblr-13858	1833	25	,	,	PUNCT
cblr-13858	1833	26	supra	supra	PROPN
cblr-13858	1833	27	note	note	NOUN
cblr-13858	1833	28	198	198	NUM
cblr-13858	1833	29	,	,	PUNCT
cblr-13858	1833	30	at	at	ADP
cblr-13858	1833	31	586	586	NUM
cblr-13858	1833	32	(	(	PUNCT
cblr-13858	1833	33	financing	financing	NOUN
cblr-13858	1833	34	options	option	NOUN
cblr-13858	1833	35	available	available	ADJ
cblr-13858	1833	36	to	to	ADP
cblr-13858	1833	37	small	small	ADJ
cblr-13858	1833	38	companies	company	NOUN
cblr-13858	1833	39	"	"	PUNCT
cblr-13858	1833	40	are	be	AUX
cblr-13858	1833	41	generally	generally	ADV
cblr-13858	1833	42	viewed	view	VERB
cblr-13858	1833	43	as	as	ADP
cblr-13858	1833	44	inadequate	inadequate	ADJ
cblr-13858	1833	45	"	"	PUNCT
cblr-13858	1833	46	)	)	PUNCT
cblr-13858	1833	47	.	.	PUNCT
cblr-13858	1833	48	'	'	PUNCT
cblr-13858	1834	1	ibrahim	ibrahim	PROPN
cblr-13858	1834	2	,	,	PUNCT
cblr-13858	1834	3	supra	supra	PROPN
cblr-13858	1834	4	note	note	NOUN
cblr-13858	1834	5	514	514	NUM
cblr-13858	1834	6	,	,	PUNCT
cblr-13858	1834	7	at	at	ADP
cblr-13858	1834	8	1417	1417	NUM
cblr-13858	1834	9	(	(	PUNCT
cblr-13858	1834	10	amounts	amount	VERB
cblr-13858	1834	11	above	above	ADP
cblr-13858	1834	12	$	$	SYM
cblr-13858	1834	13	100,000	100,000	NUM
cblr-13858	1834	14	)	)	PUNCT
cblr-13858	1834	15	;	;	PUNCT
cblr-13858	1834	16	gao	gao	PROPN
cblr-13858	1834	17	report	report	PROPN
cblr-13858	1834	18	,	,	PUNCT
cblr-13858	1834	19	supra	supra	PROPN
cblr-13858	1834	20	note	note	VERB
cblr-13858	1834	21	200	200	NUM
cblr-13858	1834	22	,	,	PUNCT
cblr-13858	1834	23	at	at	ADP
cblr-13858	1834	24	12	12	NUM
cblr-13858	1834	25	-	-	SYM
cblr-13858	1834	26	13	13	NUM
cblr-13858	1834	27	(	(	PUNCT
cblr-13858	1834	28	$	$	SYM
cblr-13858	1834	29	250,000-$5	250,000-$5	NUM
cblr-13858	1834	30	million	million	NUM
cblr-13858	1834	31	)	)	PUNCT
cblr-13858	1834	32	;	;	PUNCT
cblr-13858	1834	33	cable	cable	NOUN
cblr-13858	1834	34	,	,	PUNCT
cblr-13858	1834	35	supra	supra	PROPN
cblr-13858	1834	36	note	note	NOUN
cblr-13858	1834	37	254	254	NUM
cblr-13858	1834	38	,	,	PUNCT
cblr-13858	1834	39	at	at	ADP
cblr-13858	1834	40	108	108	NUM
cblr-13858	1834	41	(	(	PUNCT
cblr-13858	1834	42	$	$	SYM
cblr-13858	1834	43	500,000-$5	500,000-$5	NUM
cblr-13858	1834	44	million	million	NUM
cblr-13858	1834	45	)	)	PUNCT
cblr-13858	1834	46	.	.	PUNCT
cblr-13858	1834	47	...	...	PUNCT
cblr-13858	1835	1	curtis	curtis	PROPN
cblr-13858	1835	2	j.	j.	PROPN
cblr-13858	1835	3	milhaupt	milhaupt	PROPN
cblr-13858	1835	4	,	,	PUNCT
cblr-13858	1835	5	the	the	DET
cblr-13858	1835	6	small	small	ADJ
cblr-13858	1835	7	firm	firm	ADJ
cblr-13858	1835	8	financing	financing	NOUN
cblr-13858	1835	9	problem	problem	NOUN
cblr-13858	1835	10	:	:	PUNCT
cblr-13858	1835	11	private	private	ADJ
cblr-13858	1835	12	information	information	NOUN
cblr-13858	1835	13	and	and	CCONJ
cblr-13858	1835	14	public	public	ADJ
cblr-13858	1835	15	policy	policy	NOUN
cblr-13858	1835	16	,	,	PUNCT
cblr-13858	1835	17	2	2	NUM
cblr-13858	1835	18	j.	j.	PROPN
cblr-13858	1835	19	small	small	PROPN
cblr-13858	1835	20	&	&	CCONJ
cblr-13858	1835	21	emerging	emerge	VERB
cblr-13858	1835	22	bus	bus	NOUN
cblr-13858	1835	23	.	.	PUNCT
cblr-13858	1836	1	l.	l.	PROPN
cblr-13858	1836	2	177	177	NUM
cblr-13858	1836	3	,	,	PUNCT
cblr-13858	1836	4	178	178	NUM
cblr-13858	1836	5	(	(	PUNCT
cblr-13858	1836	6	1998	1998	NUM
cblr-13858	1836	7	)	)	PUNCT
cblr-13858	1836	8	;	;	PUNCT
cblr-13858	1836	9	sjostrom	sjostrom	ADJ
cblr-13858	1836	10	,	,	PUNCT
cblr-13858	1836	11	supra	supra	PROPN
cblr-13858	1836	12	note	note	NOUN
cblr-13858	1836	13	198	198	NUM
cblr-13858	1836	14	,	,	PUNCT
cblr-13858	1836	15	at	at	ADP
cblr-13858	1836	16	3	3	NUM
cblr-13858	1836	17	.	.	NOUN
cblr-13858	1836	18	.19	.19	NUM
cblr-13858	1836	19	abdul	abdul	PROPN
cblr-13858	1836	20	ali	ali	PROPN
cblr-13858	1836	21	et	et	PROPN
cblr-13858	1836	22	al	al	PROPN
cblr-13858	1836	23	.	.	PROPN
cblr-13858	1836	24	,	,	PUNCT
cblr-13858	1836	25	2009	2009	NUM
cblr-13858	1836	26	national	national	ADJ
cblr-13858	1836	27	entrepreneurial	entrepreneurial	ADJ
cblr-13858	1836	28	assessment	assessment	NOUN
cblr-13858	1836	29	for	for	ADP
cblr-13858	1836	30	the	the	DET
cblr-13858	1836	31	united	united	PROPN
cblr-13858	1836	32	states	states	PROPN
cblr-13858	1836	33	of	of	ADP
cblr-13858	1836	34	america	america	PROPN
cblr-13858	1836	35	:	:	PUNCT
cblr-13858	1836	36	executive	executive	ADJ
cblr-13858	1836	37	report	report	NOUN
cblr-13858	1836	38	,	,	PUNCT
cblr-13858	1836	39	global	global	ADJ
cblr-13858	1836	40	entrepreneurship	entrepreneurship	NOUN
cblr-13858	1836	41	monitor	monitor	NOUN
cblr-13858	1836	42	,	,	PUNCT
cblr-13858	1836	43	2009	2009	NUM
cblr-13858	1836	44	,	,	PUNCT
cblr-13858	1836	45	at	at	ADP
cblr-13858	1836	46	1	1	NUM
cblr-13858	1836	47	,	,	PUNCT
cblr-13858	1836	48	7	7	NUM
cblr-13858	1836	49	,	,	PUNCT
cblr-13858	1837	1	http://www.gemconsortium.org/docs/download/666	http://www.gemconsortium.org/docs/download/666	PROPN
cblr-13858	1838	1	[	[	X
cblr-13858	1838	2	hereinafter	hereinafter	NOUN
cblr-13858	1838	3	national	national	ADJ
cblr-13858	1838	4	entrepreneurial	entrepreneurial	ADJ
cblr-13858	1838	5	assessment	assessment	NOUN
cblr-13858	1838	6	]	]	PUNCT
cblr-13858	1838	7	.	.	PUNCT
cblr-13858	1839	1	the	the	DET
cblr-13858	1839	2	amount	amount	NOUN
cblr-13858	1839	3	of	of	ADP
cblr-13858	1839	4	total	total	ADJ
cblr-13858	1839	5	early	early	ADJ
cblr-13858	1839	6	-	-	PUNCT
cblr-13858	1839	7	stage	stage	NOUN
cblr-13858	1839	8	entrepreneurial	entrepreneurial	ADJ
cblr-13858	1839	9	activity	activity	NOUN
cblr-13858	1839	10	in	in	ADP
cblr-13858	1839	11	the	the	DET
cblr-13858	1839	12	united	united	PROPN
cblr-13858	1839	13	states	states	PROPN
cblr-13858	1839	14	dropped	drop	VERB
cblr-13858	1839	15	from	from	ADP
cblr-13858	1839	16	10.6	10.6	NUM
cblr-13858	1839	17	%	%	NOUN
cblr-13858	1839	18	in	in	ADP
cblr-13858	1839	19	2005	2005	NUM
cblr-13858	1839	20	to	to	ADP
cblr-13858	1839	21	6.9	6.9	NUM
cblr-13858	1839	22	%	%	NOUN
cblr-13858	1839	23	in	in	ADP
cblr-13858	1839	24	2009	2009	NUM
cblr-13858	1839	25	.	.	PUNCT
cblr-13858	1840	1	i	i	PRON
cblr-13858	1840	2	d.	d.	PROPN
cblr-13858	1840	3	at	at	ADP
cblr-13858	1840	4	7	7	NUM
cblr-13858	1840	5	.	.	PUNCT
cblr-13858	1840	6	nascent	nascent	ADJ
cblr-13858	1840	7	entrepreneurial	entrepreneurial	ADJ
cblr-13858	1840	8	activity	activity	NOUN
cblr-13858	1840	9	declined	decline	VERB
cblr-13858	1840	10	from	from	ADP
cblr-13858	1840	11	8.7	8.7	NUM
cblr-13858	1840	12	%	%	NOUN
cblr-13858	1840	13	of	of	ADP
cblr-13858	1840	14	the	the	DET
cblr-13858	1840	15	u.s	u.s	PROPN
cblr-13858	1840	16	.	.	PROPN
cblr-13858	1840	17	population	population	NOUN
cblr-13858	1840	18	in	in	ADP
cblr-13858	1840	19	2005	2005	NUM
cblr-13858	1840	20	to	to	ADP
cblr-13858	1840	21	4.9	4.9	NUM
cblr-13858	1840	22	%	%	NOUN
cblr-13858	1840	23	in	in	ADP
cblr-13858	1840	24	2009	2009	NUM
cblr-13858	1840	25	.	.	PUNCT
cblr-13858	1841	1	i	i	PRON
cblr-13858	1841	2	d.	d.	PROPN
cblr-13858	1841	3	at	at	ADP
cblr-13858	1841	4	33	33	NUM
cblr-13858	1841	5	.	.	PUNCT
cblr-13858	1842	1	col	col	PROPN
cblr-13858	1842	2	umia	umia	PROPN
cblr-13858	1842	3	b	b	PROPN
cblr-13858	1842	4	usiness	usiness	PROPN
cblr-13858	1842	5	la	la	PROPN
cblr-13858	1842	6	w	w	PROPN
cblr-13858	1842	7	re	re	PROPN
cblr-13858	1842	8	vie	vie	PROPN
cblr-13858	1842	9	w	w	PROPN
cblr-13858	1843	1	[	[	X
cblr-13858	1843	2	vol	vol	NOUN
cblr-13858	1843	3	.	.	PUNCT
cblr-13858	1843	4	2012100	2012100	NUM
cblr-13858	1843	5	the	the	DET
cblr-13858	1843	6	small	small	ADJ
cblr-13858	1843	7	business	business	NOUN
cblr-13858	1843	8	financing	financing	NOUN
cblr-13858	1843	9	problem	problem	NOUN
cblr-13858	1843	10	has	have	VERB
cblr-13858	1843	11	at	at	ADV
cblr-13858	1843	12	least	least	ADV
cblr-13858	1843	13	two	two	NUM
cblr-13858	1843	14	causes	cause	NOUN
cblr-13858	1843	15	.	.	PUNCT
cblr-13858	1844	1	the	the	DET
cblr-13858	1844	2	first	first	ADJ
cblr-13858	1844	3	cause	cause	NOUN
cblr-13858	1844	4	is	be	AUX
cblr-13858	1844	5	informational	informational	ADJ
cblr-13858	1844	6	inefficiency	inefficiency	NOUN
cblr-13858	1844	7	-	-	PUNCT
cblr-13858	1844	8	a	a	DET
cblr-13858	1844	9	failure	failure	NOUN
cblr-13858	1844	10	to	to	PART
cblr-13858	1844	11	match	match	VERB
cblr-13858	1844	12	potential	potential	ADJ
cblr-13858	1844	13	sources	source	NOUN
cblr-13858	1844	14	of	of	ADP
cblr-13858	1844	15	capital	capital	NOUN
cblr-13858	1844	16	with	with	ADP
cblr-13858	1844	17	potential	potential	ADJ
cblr-13858	1844	18	investment	investment	NOUN
cblr-13858	1844	19	opportunities.5	opportunities.5	ADV
cblr-13858	1844	20	20	20	NUM
cblr-13858	1844	21	even	even	ADV
cblr-13858	1844	22	if	if	SCONJ
cblr-13858	1844	23	money	money	NOUN
cblr-13858	1844	24	is	be	AUX
cblr-13858	1844	25	available	available	ADJ
cblr-13858	1844	26	,	,	PUNCT
cblr-13858	1844	27	it	it	PRON
cblr-13858	1844	28	will	will	AUX
cblr-13858	1844	29	not	not	PART
cblr-13858	1844	30	be	be	AUX
cblr-13858	1844	31	utilized	utilize	VERB
cblr-13858	1844	32	if	if	SCONJ
cblr-13858	1844	33	the	the	DET
cblr-13858	1844	34	entrepreneur	entrepreneur	NOUN
cblr-13858	1844	35	who	who	PRON
cblr-13858	1844	36	needs	need	VERB
cblr-13858	1844	37	it	it	PRON
cblr-13858	1844	38	fails	fail	VERB
cblr-13858	1844	39	to	to	PART
cblr-13858	1844	40	connect	connect	VERB
cblr-13858	1844	41	with	with	ADP
cblr-13858	1844	42	the	the	DET
cblr-13858	1844	43	investors	investor	NOUN
cblr-13858	1844	44	who	who	PRON
cblr-13858	1844	45	have	have	VERB
cblr-13858	1844	46	it	it	PRON
cblr-13858	1844	47	.	.	PUNCT
cblr-13858	1845	1	not	not	PART
cblr-13858	1845	2	surprisingly	surprisingly	ADV
cblr-13858	1845	3	,	,	PUNCT
cblr-13858	1845	4	investments	investment	NOUN
cblr-13858	1845	5	by	by	ADP
cblr-13858	1845	6	the	the	DET
cblr-13858	1845	7	major	major	ADJ
cblr-13858	1845	8	sources	source	NOUN
cblr-13858	1845	9	of	of	ADP
cblr-13858	1845	10	small	small	ADJ
cblr-13858	1845	11	business	business	NOUN
cblr-13858	1845	12	capital	capital	NOUN
cblr-13858	1845	13	tend	tend	VERB
cblr-13858	1845	14	to	to	PART
cblr-13858	1845	15	be	be	AUX
cblr-13858	1845	16	concentrated	concentrate	VERB
cblr-13858	1845	17	in	in	ADP
cblr-13858	1845	18	certain	certain	ADJ
cblr-13858	1845	19	geographical	geographical	ADJ
cblr-13858	1845	20	areas	area	NOUN
cblr-13858	1845	21	,	,	PUNCT
cblr-13858	1845	22	such	such	ADJ
cblr-13858	1845	23	as	as	ADP
cblr-13858	1845	24	silicon	silicon	NOUN
cblr-13858	1845	25	valley	valley	NOUN
cblr-13858	1845	26	.	.	PUNCT
cblr-13858	1846	1	"	"	PUNCT
cblr-13858	1846	2	'	'	PUNCT
cblr-13858	1846	3	crowdfunding	crowdfunding	NOUN
cblr-13858	1846	4	allows	allow	VERB
cblr-13858	1846	5	an	an	DET
cblr-13858	1846	6	entrepreneur	entrepreneur	NOUN
cblr-13858	1846	7	to	to	PART
cblr-13858	1846	8	publish	publish	VERB
cblr-13858	1846	9	her	her	PRON
cblr-13858	1846	10	request	request	NOUN
cblr-13858	1846	11	for	for	ADP
cblr-13858	1846	12	funding	funding	NOUN
cblr-13858	1846	13	to	to	ADP
cblr-13858	1846	14	the	the	DET
cblr-13858	1846	15	entire	entire	ADJ
cblr-13858	1846	16	world	world	NOUN
cblr-13858	1846	17	,	,	PUNCT
cblr-13858	1846	18	"	"	PUNCT
cblr-13858	1846	19	mak[ing	mak[e	VERB
cblr-13858	1846	20	]	]	PUNCT
cblr-13858	1846	21	it	it	PRON
cblr-13858	1846	22	.	.	PUNCT
cblr-13858	1846	23	.	.	PUNCT
cblr-13858	1846	24	.	.	PUNCT
cblr-13858	1847	1	easier	easy	ADJ
cblr-13858	1847	2	to	to	ADP
cblr-13858	1847	3	harness	harness	ADJ
cblr-13858	1847	4	spare	spare	ADJ
cblr-13858	1847	5	capital	capital	NOUN
cblr-13858	1847	6	and	and	CCONJ
cblr-13858	1847	7	route	route	VERB
cblr-13858	1847	8	it	it	PRON
cblr-13858	1847	9	to	to	ADP
cblr-13858	1847	10	those	those	PRON
cblr-13858	1847	11	who	who	PRON
cblr-13858	1847	12	need	need	VERB
cblr-13858	1847	13	it	it	PRON
cblr-13858	1847	14	most	most	ADV
cblr-13858	1847	15	.	.	PUNCT
cblr-13858	1848	1	"522	"522	NOUN
cblr-13858	1848	2	the	the	DET
cblr-13858	1848	3	second	second	ADJ
cblr-13858	1848	4	element	element	NOUN
cblr-13858	1848	5	of	of	ADP
cblr-13858	1848	6	the	the	DET
cblr-13858	1848	7	capital	capital	NOUN
cblr-13858	1848	8	gap	gap	NOUN
cblr-13858	1848	9	is	be	AUX
cblr-13858	1848	10	the	the	DET
cblr-13858	1848	11	unavailability	unavailability	NOUN
cblr-13858	1848	12	of	of	ADP
cblr-13858	1848	13	traditional	traditional	ADJ
cblr-13858	1848	14	sources	source	NOUN
cblr-13858	1848	15	of	of	ADP
cblr-13858	1848	16	small	small	ADJ
cblr-13858	1848	17	business	business	NOUN
cblr-13858	1848	18	financing	financing	NOUN
cblr-13858	1848	19	-	-	PUNCT
cblr-13858	1848	20	bank	bank	NOUN
cblr-13858	1848	21	lending	lending	NOUN
cblr-13858	1848	22	,	,	PUNCT
cblr-13858	1848	23	venture	venture	NOUN
cblr-13858	1848	24	capitalists	capitalist	NOUN
cblr-13858	1848	25	,	,	PUNCT
cblr-13858	1848	26	and	and	CCONJ
cblr-13858	1848	27	angel	angel	NOUN
cblr-13858	1848	28	investors	investor	NOUN
cblr-13858	1848	29	-	-	PUNCT
cblr-13858	1848	30	to	to	ADP
cblr-13858	1848	31	most	most	ADJ
cblr-13858	1848	32	startups	startup	NOUN
cblr-13858	1848	33	and	and	CCONJ
cblr-13858	1848	34	other	other	ADJ
cblr-13858	1848	35	very	very	ADV
cblr-13858	1848	36	small	small	ADJ
cblr-13858	1848	37	businesses	business	NOUN
cblr-13858	1848	38	.	.	PUNCT
cblr-13858	1849	1	entrepreneurs	entrepreneur	NOUN
cblr-13858	1849	2	typically	typically	ADV
cblr-13858	1849	3	begin	begin	VERB
cblr-13858	1849	4	new	new	ADJ
cblr-13858	1849	5	ventures	venture	NOUN
cblr-13858	1849	6	using	use	VERB
cblr-13858	1849	7	personal	personal	ADJ
cblr-13858	1849	8	funds	fund	NOUN
cblr-13858	1849	9	,	,	PUNCT
cblr-13858	1849	10	including	include	VERB
cblr-13858	1849	11	savings	saving	NOUN
cblr-13858	1849	12	,	,	PUNCT
cblr-13858	1849	13	credit	credit	NOUN
cblr-13858	1849	14	card	card	NOUN
cblr-13858	1849	15	debt	debt	NOUN
cblr-13858	1849	16	,	,	PUNCT
cblr-13858	1849	17	second	second	ADJ
cblr-13858	1849	18	mortgages	mortgage	NOUN
cblr-13858	1849	19	,	,	PUNCT
cblr-13858	1849	20	and	and	CCONJ
cblr-13858	1849	21	money	money	NOUN
cblr-13858	1849	22	from	from	ADP
cblr-13858	1849	23	friends	friend	NOUN
cblr-13858	1849	24	and	and	CCONJ
cblr-13858	1849	25	family.5	family.5	PROPN
cblr-13858	1849	26	23	23	NUM
cblr-13858	1849	27	some	some	DET
cblr-13858	1849	28	entrepreneurs	entrepreneur	NOUN
cblr-13858	1849	29	might	might	AUX
cblr-13858	1849	30	raise	raise	VERB
cblr-13858	1849	31	$	$	SYM
cblr-13858	1849	32	100,000	100,000	NUM
cblr-13858	1849	33	,	,	PUNCT
cblr-13858	1849	34	or	or	CCONJ
cblr-13858	1849	35	even	even	ADV
cblr-13858	1849	36	$	$	SYM
cblr-13858	1849	37	500,000	500,000	NUM
cblr-13858	1849	38	,	,	PUNCT
cblr-13858	1849	39	from	from	ADP
cblr-13858	1849	40	those	those	DET
cblr-13858	1849	41	personal	personal	ADJ
cblr-13858	1849	42	sources,524	sources,524	PROPN
cblr-13858	1849	43	but	but	CCONJ
cblr-13858	1849	44	many	many	ADJ
cblr-13858	1849	45	entrepreneurs	entrepreneur	NOUN
cblr-13858	1849	46	with	with	ADP
cblr-13858	1849	47	good	good	ADJ
cblr-13858	1849	48	ideas	idea	NOUN
cblr-13858	1849	49	,	,	PUNCT
cblr-13858	1849	50	particularly	particularly	ADV
cblr-13858	1849	51	those	those	PRON
cblr-13858	1849	52	who	who	PRON
cblr-13858	1849	53	are	be	AUX
cblr-13858	1849	54	not	not	PART
cblr-13858	1849	55	in	in	ADP
cblr-13858	1849	56	the	the	DET
cblr-13858	1849	57	upper	upper	ADJ
cblr-13858	1849	58	and	and	CCONJ
cblr-13858	1849	59	middle	middle	ADJ
cblr-13858	1849	60	classes	class	NOUN
cblr-13858	1849	61	,	,	PUNCT
cblr-13858	1849	62	have	have	VERB
cblr-13858	1849	63	very	very	ADV
cblr-13858	1849	64	little	little	ADJ
cblr-13858	1849	65	access	access	NOUN
cblr-13858	1849	66	to	to	ADP
cblr-13858	1849	67	funds	fund	NOUN
cblr-13858	1849	68	.	.	PUNCT
cblr-13858	1850	1	520	520	NUM
cblr-13858	1850	2	sjostrom	sjostrom	ADJ
cblr-13858	1850	3	,	,	PUNCT
cblr-13858	1850	4	supra	supra	PROPN
cblr-13858	1850	5	note	note	NOUN
cblr-13858	1850	6	198	198	NUM
cblr-13858	1850	7	,	,	PUNCT
cblr-13858	1850	8	at	at	ADP
cblr-13858	1850	9	3	3	NUM
cblr-13858	1850	10	-	-	SYM
cblr-13858	1850	11	4	4	NUM
cblr-13858	1850	12	.	.	NUM
cblr-13858	1850	13	521	521	NUM
cblr-13858	1850	14	see	see	VERB
cblr-13858	1850	15	gao	gao	PROPN
cblr-13858	1850	16	report	report	PROPN
cblr-13858	1850	17	,	,	PUNCT
cblr-13858	1850	18	supra	supra	PROPN
cblr-13858	1850	19	note	note	VERB
cblr-13858	1850	20	200	200	NUM
cblr-13858	1850	21	,	,	PUNCT
cblr-13858	1850	22	at	at	ADP
cblr-13858	1850	23	3	3	NUM
cblr-13858	1850	24	(	(	PUNCT
cblr-13858	1850	25	venture	venture	NOUN
cblr-13858	1850	26	capitalists	capitalist	NOUN
cblr-13858	1850	27	)	)	PUNCT
cblr-13858	1850	28	;	;	PUNCT
cblr-13858	1850	29	simon	simon	PROPN
cblr-13858	1850	30	c.	c.	PROPN
cblr-13858	1850	31	parker	parker	PROPN
cblr-13858	1850	32	,	,	PUNCT
cblr-13858	1850	33	the	the	DET
cblr-13858	1850	34	economics	economic	NOUN
cblr-13858	1850	35	of	of	ADP
cblr-13858	1850	36	entrepreneurship	entrepreneurship	NOUN
cblr-13858	1850	37	249	249	NUM
cblr-13858	1850	38	-	-	SYM
cblr-13858	1850	39	50	50	NUM
cblr-13858	1850	40	(	(	PUNCT
cblr-13858	1850	41	2009	2009	NUM
cblr-13858	1850	42	)	)	PUNCT
cblr-13858	1850	43	(	(	PUNCT
cblr-13858	1850	44	angel	angel	NOUN
cblr-13858	1850	45	investors	investor	NOUN
cblr-13858	1850	46	)	)	PUNCT
cblr-13858	1850	47	.	.	PUNCT
cblr-13858	1851	1	522	522	NUM
cblr-13858	1851	2	howe	howe	NOUN
cblr-13858	1851	3	,	,	PUNCT
cblr-13858	1851	4	supra	supra	PROPN
cblr-13858	1851	5	note	note	NOUN
cblr-13858	1851	6	1	1	NUM
cblr-13858	1851	7	,	,	PUNCT
cblr-13858	1851	8	at	at	ADP
cblr-13858	1851	9	248	248	NUM
cblr-13858	1851	10	.	.	PUNCT
cblr-13858	1852	1	a	a	DET
cblr-13858	1852	2	study	study	NOUN
cblr-13858	1852	3	of	of	ADP
cblr-13858	1852	4	dutch	dutch	PROPN
cblr-13858	1852	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1852	6	site	site	NOUN
cblr-13858	1852	7	sellaband	sellaband	PROPN
cblr-13858	1852	8	found	find	VERB
cblr-13858	1852	9	that	that	SCONJ
cblr-13858	1852	10	only	only	ADV
cblr-13858	1852	11	13.5	13.5	NUM
cblr-13858	1852	12	%	%	NOUN
cblr-13858	1852	13	of	of	ADP
cblr-13858	1852	14	successful	successful	ADJ
cblr-13858	1852	15	crowdfunders	crowdfunder	NOUN
cblr-13858	1852	16	'	'	PART
cblr-13858	1852	17	capital	capital	NOUN
cblr-13858	1852	18	came	come	VERB
cblr-13858	1852	19	from	from	ADP
cblr-13858	1852	20	investors	investor	NOUN
cblr-13858	1852	21	within	within	ADP
cblr-13858	1852	22	fifty	fifty	NUM
cblr-13858	1852	23	kilometers	kilometer	NOUN
cblr-13858	1852	24	of	of	ADP
cblr-13858	1852	25	the	the	DET
cblr-13858	1852	26	entrepreneur	entrepreneur	NOUN
cblr-13858	1852	27	.	.	PUNCT
cblr-13858	1853	1	almost	almost	ADV
cblr-13858	1853	2	40	40	NUM
cblr-13858	1853	3	%	%	NOUN
cblr-13858	1853	4	of	of	ADP
cblr-13858	1853	5	the	the	DET
cblr-13858	1853	6	amounts	amount	NOUN
cblr-13858	1853	7	received	receive	VERB
cblr-13858	1853	8	came	come	VERB
cblr-13858	1853	9	from	from	ADP
cblr-13858	1853	10	investors	investor	NOUN
cblr-13858	1853	11	more	more	ADJ
cblr-13858	1853	12	than	than	ADP
cblr-13858	1853	13	3,000	3,000	NUM
cblr-13858	1853	14	kilometers	kilometer	NOUN
cblr-13858	1853	15	away	away	ADV
cblr-13858	1853	16	.	.	PUNCT
cblr-13858	1854	1	ajay	ajay	PROPN
cblr-13858	1854	2	agrawal	agrawal	PROPN
cblr-13858	1854	3	,	,	PUNCT
cblr-13858	1854	4	christian	christian	PROPN
cblr-13858	1854	5	catalini	catalini	PROPN
cblr-13858	1854	6	&	&	CCONJ
cblr-13858	1854	7	avi	avi	VERB
cblr-13858	1854	8	goldfarb	goldfarb	PROPN
cblr-13858	1854	9	,	,	PUNCT
cblr-13858	1854	10	the	the	DET
cblr-13858	1854	11	geography	geography	NOUN
cblr-13858	1854	12	of	of	ADP
cblr-13858	1854	13	crowdfunding	crowdfunde	VERB
cblr-13858	1854	14	22	22	NUM
cblr-13858	1854	15	tbl	tbl	NOUN
cblr-13858	1854	16	.	.	PUNCT
cblr-13858	1855	1	2a	2a	NUM
cblr-13858	1855	2	(	(	PUNCT
cblr-13858	1855	3	net	net	PROPN
cblr-13858	1855	4	institute	institute	NOUN
cblr-13858	1855	5	working	working	PROPN
cblr-13858	1855	6	paper	paper	PROPN
cblr-13858	1855	7	no	no	INTJ
cblr-13858	1855	8	.	.	PROPN
cblr-13858	1856	1	10	10	NUM
cblr-13858	1856	2	-	-	SYM
cblr-13858	1856	3	08	08	NUM
cblr-13858	1856	4	,	,	PUNCT
cblr-13858	1856	5	2011	2011	NUM
cblr-13858	1856	6	)	)	PUNCT
cblr-13858	1856	7	,	,	PUNCT
cblr-13858	1856	8	available	available	ADJ
cblr-13858	1856	9	at	at	ADP
cblr-13858	1856	10	http://ssrn.com/abstract=1692661	http://ssrn.com/abstract=1692661	NOUN
cblr-13858	1856	11	.	.	PUNCT
cblr-13858	1857	1	523	523	NUM
cblr-13858	1857	2	fisch	fisch	PROPN
cblr-13858	1857	3	,	,	PUNCT
cblr-13858	1857	4	supra	supra	PROPN
cblr-13858	1857	5	note	note	NOUN
cblr-13858	1857	6	514	514	NUM
cblr-13858	1857	7	,	,	PUNCT
cblr-13858	1857	8	at	at	ADP
cblr-13858	1857	9	60	60	NUM
cblr-13858	1857	10	;	;	PUNCT
cblr-13858	1857	11	national	national	ADJ
cblr-13858	1857	12	entrepreneurial	entrepreneurial	ADJ
cblr-13858	1857	13	assessment	assessment	NOUN
cblr-13858	1857	14	,	,	PUNCT
cblr-13858	1857	15	supra	supra	PROPN
cblr-13858	1857	16	note	note	NOUN
cblr-13858	1857	17	519	519	NUM
cblr-13858	1857	18	,	,	PUNCT
cblr-13858	1857	19	at	at	ADP
cblr-13858	1857	20	8	8	NUM
cblr-13858	1857	21	;	;	PUNCT
cblr-13858	1857	22	sjostrom	sjostrom	ADJ
cblr-13858	1857	23	,	,	PUNCT
cblr-13858	1857	24	supra	supra	PROPN
cblr-13858	1857	25	note	note	NOUN
cblr-13858	1857	26	198	198	NUM
cblr-13858	1857	27	,	,	PUNCT
cblr-13858	1857	28	at	at	ADP
cblr-13858	1857	29	5	5	NUM
cblr-13858	1857	30	.	.	PUNCT
cblr-13858	1858	1	see	see	VERB
cblr-13858	1858	2	also	also	ADV
cblr-13858	1858	3	parker	parker	PROPN
cblr-13858	1858	4	,	,	PUNCT
cblr-13858	1858	5	supra	supra	PROPN
cblr-13858	1858	6	note	note	PROPN
cblr-13858	1858	7	521	521	NUM
cblr-13858	1858	8	,	,	PUNCT
cblr-13858	1858	9	at	at	ADP
cblr-13858	1858	10	250	250	NUM
cblr-13858	1858	11	(	(	PUNCT
cblr-13858	1858	12	"	"	PUNCT
cblr-13858	1858	13	families	family	NOUN
cblr-13858	1858	14	are	be	AUX
cblr-13858	1858	15	the	the	DET
cblr-13858	1858	16	most	most	ADV
cblr-13858	1858	17	commonly	commonly	ADV
cblr-13858	1858	18	used	use	VERB
cblr-13858	1858	19	source	source	NOUN
cblr-13858	1858	20	of	of	ADP
cblr-13858	1858	21	business	business	NOUN
cblr-13858	1858	22	loans	loan	NOUN
cblr-13858	1858	23	in	in	ADP
cblr-13858	1858	24	the	the	DET
cblr-13858	1858	25	usa	usa	PROPN
cblr-13858	1858	26	after	after	ADP
cblr-13858	1858	27	banks	bank	NOUN
cblr-13858	1858	28	and	and	CCONJ
cblr-13858	1858	29	other	other	ADJ
cblr-13858	1858	30	financial	financial	ADJ
cblr-13858	1858	31	institutions	institution	NOUN
cblr-13858	1858	32	.	.	PUNCT
cblr-13858	1859	1	"	"	PUNCT
cblr-13858	1859	2	)	)	PUNCT
cblr-13858	1859	3	.	.	PUNCT
cblr-13858	1860	1	524	524	NUM
cblr-13858	1860	2	see	see	VERB
cblr-13858	1860	3	cable	cable	NOUN
cblr-13858	1860	4	,	,	PUNCT
cblr-13858	1860	5	supra	supra	PROPN
cblr-13858	1860	6	note	note	NOUN
cblr-13858	1860	7	254	254	NUM
cblr-13858	1860	8	,	,	PUNCT
cblr-13858	1860	9	at	at	ADP
cblr-13858	1860	10	108	108	NUM
cblr-13858	1860	11	;	;	PUNCT
cblr-13858	1860	12	ibrahim	ibrahim	PROPN
cblr-13858	1860	13	,	,	PUNCT
cblr-13858	1860	14	supra	supra	PROPN
cblr-13858	1860	15	note	note	NOUN
cblr-13858	1860	16	514	514	NUM
cblr-13858	1860	17	,	,	PUNCT
cblr-13858	1860	18	at	at	ADP
cblr-13858	1860	19	1417	1417	NUM
cblr-13858	1860	20	.	.	PUNCT
cblr-13858	1861	1	no	no	INTJ
cblr-13858	1861	2	.	.	PUNCT
cblr-13858	1862	1	i:1	i:1	PROPN
cblr-13858	1862	2	]	]	X
cblr-13858	1862	3	cro	cro	X
cblr-13858	1862	4	wdfunding	wdfunding	NOUN
cblr-13858	1862	5	and	and	CCONJ
cblr-13858	1862	6	securities	security	NOUN
cblr-13858	1862	7	la	la	PROPN
cblr-13858	1862	8	ws	ws	PROPN
cblr-13858	1862	9	101	101	NUM
cblr-13858	1862	10	furthermore	furthermore	ADV
cblr-13858	1862	11	,	,	PUNCT
cblr-13858	1862	12	when	when	SCONJ
cblr-13858	1862	13	those	those	DET
cblr-13858	1862	14	personal	personal	ADJ
cblr-13858	1862	15	resources	resource	NOUN
cblr-13858	1862	16	are	be	AUX
cblr-13858	1862	17	exhausted	exhaust	VERB
cblr-13858	1862	18	,	,	PUNCT
cblr-13858	1862	19	funding	funding	NOUN
cblr-13858	1862	20	is	be	AUX
cblr-13858	1862	21	difficult	difficult	ADJ
cblr-13858	1862	22	to	to	PART
cblr-13858	1862	23	find	find	VERB
cblr-13858	1862	24	.	.	PUNCT
cblr-13858	1863	1	other	other	ADJ
cblr-13858	1863	2	common	common	ADJ
cblr-13858	1863	3	sources	source	NOUN
cblr-13858	1863	4	of	of	ADP
cblr-13858	1863	5	business	business	NOUN
cblr-13858	1863	6	financing	financing	NOUN
cblr-13858	1863	7	are	be	AUX
cblr-13858	1863	8	not	not	PART
cblr-13858	1863	9	available	available	ADJ
cblr-13858	1863	10	to	to	ADP
cblr-13858	1863	11	small	small	ADJ
cblr-13858	1863	12	startups	startup	NOUN
cblr-13858	1863	13	.	.	PUNCT
cblr-13858	1864	1	bank	bank	NOUN
cblr-13858	1864	2	loans	loan	NOUN
cblr-13858	1864	3	are	be	AUX
cblr-13858	1864	4	one	one	NUM
cblr-13858	1864	5	possible	possible	ADJ
cblr-13858	1864	6	source	source	NOUN
cblr-13858	1864	7	of	of	ADP
cblr-13858	1864	8	capital	capital	NOUN
cblr-13858	1864	9	,	,	PUNCT
cblr-13858	1864	10	but	but	CCONJ
cblr-13858	1864	11	most	most	ADJ
cblr-13858	1864	12	small	small	ADJ
cblr-13858	1864	13	startups	startup	NOUN
cblr-13858	1864	14	do	do	AUX
cblr-13858	1864	15	not	not	PART
cblr-13858	1864	16	have	have	VERB
cblr-13858	1864	17	the	the	DET
cblr-13858	1864	18	collateral	collateral	NOUN
cblr-13858	1864	19	,	,	PUNCT
cblr-13858	1864	20	the	the	DET
cblr-13858	1864	21	cash	cash	NOUN
cblr-13858	1864	22	flow	flow	NOUN
cblr-13858	1864	23	,	,	PUNCT
cblr-13858	1864	24	or	or	CCONJ
cblr-13858	1864	25	the	the	DET
cblr-13858	1864	26	operating	operate	VERB
cblr-13858	1864	27	history	history	NOUN
cblr-13858	1864	28	to	to	PART
cblr-13858	1864	29	qualify	qualify	VERB
cblr-13858	1864	30	for	for	ADP
cblr-13858	1864	31	bank	bank	NOUN
cblr-13858	1864	32	loans	loan	NOUN
cblr-13858	1864	33	in	in	ADP
cblr-13858	1864	34	the	the	DET
cblr-13858	1864	35	amount	amount	NOUN
cblr-13858	1864	36	needed.525	needed.525	PROPN
cblr-13858	1864	37	venture	venture	NOUN
cblr-13858	1864	38	capital	capital	NOUN
cblr-13858	1864	39	funds	fund	NOUN
cblr-13858	1864	40	are	be	AUX
cblr-13858	1864	41	another	another	DET
cblr-13858	1864	42	possible	possible	ADJ
cblr-13858	1864	43	source	source	NOUN
cblr-13858	1864	44	of	of	ADP
cblr-13858	1864	45	funding,526	funding,526	NOUN
cblr-13858	1864	46	but	but	CCONJ
cblr-13858	1864	47	venture	venture	NOUN
cblr-13858	1864	48	capitalists	capitalist	NOUN
cblr-13858	1864	49	tend	tend	VERB
cblr-13858	1864	50	to	to	PART
cblr-13858	1864	51	focus	focus	VERB
cblr-13858	1864	52	on	on	ADP
cblr-13858	1864	53	companies	company	NOUN
cblr-13858	1864	54	that	that	PRON
cblr-13858	1864	55	have	have	AUX
cblr-13858	1864	56	passed	pass	VERB
cblr-13858	1864	57	the	the	DET
cblr-13858	1864	58	initial	initial	ADJ
cblr-13858	1864	59	startup	startup	NOUN
cblr-13858	1864	60	phase	phase	NOUN
cblr-13858	1864	61	and	and	CCONJ
cblr-13858	1864	62	are	be	AUX
cblr-13858	1864	63	seeking	seek	VERB
cblr-13858	1864	64	to	to	PART
cblr-13858	1864	65	grow	grow	VERB
cblr-13858	1864	66	further	far	ADV
cblr-13858	1864	67	.	.	PUNCT
cblr-13858	1864	68	'	'	PUNCT
cblr-13858	1865	1	less	less	ADJ
cblr-13858	1865	2	than	than	ADP
cblr-13858	1865	3	a	a	DET
cblr-13858	1865	4	quarter	quarter	NOUN
cblr-13858	1865	5	of	of	ADP
cblr-13858	1865	6	venture	venture	NOUN
cblr-13858	1865	7	capital	capital	NOUN
cblr-13858	1865	8	investments	investment	NOUN
cblr-13858	1865	9	are	be	AUX
cblr-13858	1865	10	for	for	ADP
cblr-13858	1865	11	early	early	ADJ
cblr-13858	1865	12	-	-	PUNCT
cblr-13858	1865	13	stage	stage	NOUN
cblr-13858	1865	14	funding	funding	NOUN
cblr-13858	1865	15	.	.	PUNCT
cblr-13858	1865	16	"	"	PUNCT
cblr-13858	1866	1	venture	venture	NOUN
cblr-13858	1866	2	capital	capital	NOUN
cblr-13858	1866	3	funding	funding	NOUN
cblr-13858	1866	4	is	be	AUX
cblr-13858	1866	5	also	also	ADV
cblr-13858	1866	6	not	not	PART
cblr-13858	1866	7	available	available	ADJ
cblr-13858	1866	8	in	in	ADP
cblr-13858	1866	9	the	the	DET
cblr-13858	1866	10	relatively	relatively	ADV
cblr-13858	1866	11	small	small	ADJ
cblr-13858	1866	12	amounts	amount	NOUN
cblr-13858	1866	13	that	that	SCONJ
cblr-13858	1866	14	new	new	ADJ
cblr-13858	1866	15	companies	company	NOUN
cblr-13858	1866	16	need,52	need,52	VERB
cblr-13858	1866	17	9	9	NUM
cblr-13858	1866	18	and	and	CCONJ
cblr-13858	1866	19	the	the	DET
cblr-13858	1866	20	problem	problem	NOUN
cblr-13858	1866	21	is	be	AUX
cblr-13858	1866	22	worsening	worsen	VERB
cblr-13858	1866	23	as	as	ADP
cblr-13858	1866	24	the	the	DET
cblr-13858	1866	25	average	average	ADJ
cblr-13858	1866	26	minimum	minimum	NOUN
cblr-13858	1866	27	amount	amount	NOUN
cblr-13858	1866	28	invested	invest	VERB
cblr-13858	1866	29	by	by	ADP
cblr-13858	1866	30	venture	venture	NOUN
cblr-13858	1866	31	capital	capital	NOUN
cblr-13858	1866	32	funds	fund	NOUN
cblr-13858	1866	33	increases.5	increases.5	PROPN
cblr-13858	1866	34	3	3	NUM
cblr-13858	1866	35	0	0	NUM
cblr-13858	1866	36	a	a	DET
cblr-13858	1866	37	typical	typical	ADJ
cblr-13858	1866	38	venture	venture	NOUN
cblr-13858	1866	39	capital	capital	NOUN
cblr-13858	1866	40	investment	investment	NOUN
cblr-13858	1866	41	averages	average	NOUN
cblr-13858	1866	42	between	between	ADP
cblr-13858	1866	43	$	$	SYM
cblr-13858	1866	44	2	2	NUM
cblr-13858	1866	45	million	million	NUM
cblr-13858	1866	46	and	and	CCONJ
cblr-13858	1866	47	$	$	SYM
cblr-13858	1866	48	10	10	NUM
cblr-13858	1866	49	million.3	million.3	PROPN
cblr-13858	1866	50	'	'	PART
cblr-13858	1866	51	venture	venture	NOUN
cblr-13858	1866	52	capitalists	capitalist	NOUN
cblr-13858	1866	53	sometimes	sometimes	ADV
cblr-13858	1866	54	provide	provide	VERB
cblr-13858	1866	55	smaller	small	ADJ
cblr-13858	1866	56	amounts,53	amounts,53	NOUN
cblr-13858	1866	57	2	2	NUM
cblr-13858	1866	58	but	but	CCONJ
cblr-13858	1866	59	high	high	ADJ
cblr-13858	1866	60	transaction	transaction	NOUN
cblr-13858	1866	61	costs	cost	NOUN
cblr-13858	1866	62	usually	usually	ADV
cblr-13858	1866	63	make	make	VERB
cblr-13858	1866	64	smaller	small	ADJ
cblr-13858	1866	65	investments	investment	NOUN
cblr-13858	1866	66	impractical.5	impractical.5	VERB
cblr-13858	1866	67	33	33	NUM
cblr-13858	1866	68	these	these	DET
cblr-13858	1866	69	investments	investment	NOUN
cblr-13858	1866	70	also	also	ADV
cblr-13858	1866	71	tend	tend	VERB
cblr-13858	1866	72	to	to	PART
cblr-13858	1866	73	focus	focus	VERB
cblr-13858	1866	74	on	on	ADP
cblr-13858	1866	75	specific	specific	ADJ
cblr-13858	1866	76	industries	industry	NOUN
cblr-13858	1866	77	3	3	NUM
cblr-13858	1866	78	'	'	PUNCT
cblr-13858	1866	79	and	and	CCONJ
cblr-13858	1866	80	on	on	ADP
cblr-13858	1866	81	firms	firm	NOUN
cblr-13858	1866	82	with	with	ADP
cblr-13858	1866	83	potential	potential	NOUN
cblr-13858	1866	84	for	for	ADP
cblr-13858	1866	85	rapid	rapid	ADJ
cblr-13858	1866	86	525	525	NUM
cblr-13858	1866	87	see	see	NOUN
cblr-13858	1866	88	cable	cable	NOUN
cblr-13858	1866	89	,	,	PUNCT
cblr-13858	1866	90	supra	supra	PROPN
cblr-13858	1866	91	note	note	NOUN
cblr-13858	1866	92	254	254	NUM
cblr-13858	1866	93	,	,	PUNCT
cblr-13858	1866	94	at	at	ADP
cblr-13858	1866	95	121	121	NUM
cblr-13858	1866	96	;	;	PUNCT
cblr-13858	1866	97	george	george	PROPN
cblr-13858	1866	98	w.	w.	PROPN
cblr-13858	1866	99	dent	dent	PROPN
cblr-13858	1866	100	,	,	PUNCT
cblr-13858	1866	101	jr	jr	PROPN
cblr-13858	1866	102	.	.	PROPN
cblr-13858	1866	103	,	,	PUNCT
cblr-13858	1866	104	venture	venture	NOUN
cblr-13858	1866	105	capital	capital	NOUN
cblr-13858	1866	106	and	and	CCONJ
cblr-13858	1866	107	the	the	DET
cblr-13858	1866	108	future	future	NOUN
cblr-13858	1866	109	of	of	ADP
cblr-13858	1866	110	corporate	corporate	ADJ
cblr-13858	1866	111	finance	finance	NOUN
cblr-13858	1866	112	,	,	PUNCT
cblr-13858	1866	113	70	70	NUM
cblr-13858	1866	114	wash	wash	NOUN
cblr-13858	1866	115	.	.	PUNCT
cblr-13858	1867	1	u.	u.	PROPN
cblr-13858	1867	2	l.	l.	PROPN
cblr-13858	1867	3	q.	q.	PROPN
cblr-13858	1867	4	1029	1029	NUM
cblr-13858	1867	5	,	,	PUNCT
cblr-13858	1867	6	1032	1032	NUM
cblr-13858	1867	7	(	(	PUNCT
cblr-13858	1867	8	1992	1992	NUM
cblr-13858	1867	9	)	)	PUNCT
cblr-13858	1867	10	;	;	PUNCT
cblr-13858	1867	11	fisch	fisch	PROPN
cblr-13858	1867	12	,	,	PUNCT
cblr-13858	1867	13	supra	supra	PROPN
cblr-13858	1867	14	note	note	NOUN
cblr-13858	1867	15	514	514	NUM
cblr-13858	1867	16	,	,	PUNCT
cblr-13858	1867	17	at	at	ADP
cblr-13858	1867	18	60	60	NUM
cblr-13858	1867	19	;	;	PUNCT
cblr-13858	1867	20	sjostrom	sjostrom	ADJ
cblr-13858	1867	21	,	,	PUNCT
cblr-13858	1867	22	supra	supra	PROPN
cblr-13858	1867	23	note	note	NOUN
cblr-13858	1867	24	198	198	NUM
cblr-13858	1867	25	,	,	PUNCT
cblr-13858	1867	26	at	at	ADP
cblr-13858	1867	27	5	5	NUM
cblr-13858	1867	28	.	.	NOUN
cblr-13858	1867	29	526	526	NUM
cblr-13858	1867	30	for	for	ADP
cblr-13858	1867	31	a	a	DET
cblr-13858	1867	32	good	good	ADJ
cblr-13858	1867	33	,	,	PUNCT
cblr-13858	1867	34	short	short	ADJ
cblr-13858	1867	35	introduction	introduction	NOUN
cblr-13858	1867	36	to	to	ADP
cblr-13858	1867	37	the	the	DET
cblr-13858	1867	38	venture	venture	NOUN
cblr-13858	1867	39	capital	capital	NOUN
cblr-13858	1867	40	industry	industry	NOUN
cblr-13858	1867	41	,	,	PUNCT
cblr-13858	1867	42	see	see	VERB
cblr-13858	1867	43	cable	cable	NOUN
cblr-13858	1867	44	,	,	PUNCT
cblr-13858	1867	45	supra	supra	PROPN
cblr-13858	1867	46	note	note	NOUN
cblr-13858	1867	47	254	254	NUM
cblr-13858	1867	48	,	,	PUNCT
cblr-13858	1867	49	at	at	ADP
cblr-13858	1867	50	112	112	NUM
cblr-13858	1867	51	-	-	SYM
cblr-13858	1867	52	15	15	NUM
cblr-13858	1867	53	.	.	PUNCT
cblr-13858	1868	1	527	527	NUM
cblr-13858	1868	2	fisch	fisch	PROPN
cblr-13858	1868	3	,	,	PUNCT
cblr-13858	1868	4	supra	supra	PROPN
cblr-13858	1868	5	note	note	NOUN
cblr-13858	1868	6	514	514	NUM
cblr-13858	1868	7	,	,	PUNCT
cblr-13858	1868	8	at	at	ADP
cblr-13858	1868	9	62	62	NUM
cblr-13858	1868	10	;	;	PUNCT
cblr-13858	1868	11	ibrahim	ibrahim	PROPN
cblr-13858	1868	12	,	,	PUNCT
cblr-13858	1868	13	supra	supra	PROPN
cblr-13858	1868	14	note	note	NOUN
cblr-13858	1868	15	514	514	NUM
cblr-13858	1868	16	,	,	PUNCT
cblr-13858	1868	17	at	at	ADP
cblr-13858	1868	18	1416	1416	NUM
cblr-13858	1868	19	.	.	PUNCT
cblr-13858	1868	20	"	"	PUNCT
cblr-13858	1869	1	gao	gao	PROPN
cblr-13858	1869	2	report	report	PROPN
cblr-13858	1869	3	,	,	PUNCT
cblr-13858	1869	4	supra	supra	PROPN
cblr-13858	1869	5	note	note	VERB
cblr-13858	1869	6	200	200	NUM
cblr-13858	1869	7	,	,	PUNCT
cblr-13858	1869	8	at	at	ADP
cblr-13858	1869	9	21	21	NUM
cblr-13858	1869	10	.	.	PUNCT
cblr-13858	1870	1	529	529	NUM
cblr-13858	1870	2	see	see	VERB
cblr-13858	1870	3	i	i	PRON
cblr-13858	1870	4	d.	d.	PROPN
cblr-13858	1870	5	at	at	ADP
cblr-13858	1870	6	3	3	NUM
cblr-13858	1870	7	.	.	PUNCT
cblr-13858	1871	1	see	see	VERB
cblr-13858	1871	2	also	also	ADV
cblr-13858	1871	3	cohn	cohn	PROPN
cblr-13858	1871	4	&	&	CCONJ
cblr-13858	1871	5	yadley	yadley	PROPN
cblr-13858	1871	6	,	,	PUNCT
cblr-13858	1871	7	supra	supra	PROPN
cblr-13858	1871	8	note	note	PROPN
cblr-13858	1871	9	11	11	NUM
cblr-13858	1871	10	,	,	PUNCT
cblr-13858	1871	11	at	at	ADP
cblr-13858	1871	12	80	80	NUM
cblr-13858	1871	13	-	-	SYM
cblr-13858	1871	14	81	81	NUM
cblr-13858	1871	15	;	;	PUNCT
cblr-13858	1871	16	ibrahim	ibrahim	PROPN
cblr-13858	1871	17	,	,	PUNCT
cblr-13858	1871	18	supra	supra	PROPN
cblr-13858	1871	19	note	note	NOUN
cblr-13858	1871	20	514	514	NUM
cblr-13858	1871	21	,	,	PUNCT
cblr-13858	1871	22	at	at	ADP
cblr-13858	1871	23	1416	1416	NUM
cblr-13858	1871	24	.	.	PUNCT
cblr-13858	1872	1	.o	.o	PROPN
cblr-13858	1873	1	gao	gao	PROPN
cblr-13858	1873	2	report	report	PROPN
cblr-13858	1873	3	,	,	PUNCT
cblr-13858	1873	4	supra	supra	PROPN
cblr-13858	1873	5	note	note	VERB
cblr-13858	1873	6	200	200	NUM
cblr-13858	1873	7	,	,	PUNCT
cblr-13858	1873	8	at	at	ADP
cblr-13858	1873	9	13	13	NUM
cblr-13858	1873	10	.	.	PUNCT
cblr-13858	1874	1	one	one	NUM
cblr-13858	1874	2	source	source	NOUN
cblr-13858	1874	3	claims	claim	VERB
cblr-13858	1874	4	that	that	SCONJ
cblr-13858	1874	5	the	the	DET
cblr-13858	1874	6	total	total	ADJ
cblr-13858	1874	7	amount	amount	NOUN
cblr-13858	1874	8	of	of	ADP
cblr-13858	1874	9	venture	venture	NOUN
cblr-13858	1874	10	capital	capital	NOUN
cblr-13858	1874	11	funding	funding	NOUN
cblr-13858	1874	12	has	have	AUX
cblr-13858	1874	13	also	also	ADV
cblr-13858	1874	14	declined	decline	VERB
cblr-13858	1874	15	recently	recently	ADV
cblr-13858	1874	16	,	,	PUNCT
cblr-13858	1874	17	from	from	ADP
cblr-13858	1874	18	$	$	SYM
cblr-13858	1874	19	106	106	NUM
cblr-13858	1874	20	billion	billion	NUM
cblr-13858	1874	21	in	in	ADP
cblr-13858	1874	22	2000	2000	NUM
cblr-13858	1874	23	to	to	ADP
cblr-13858	1874	24	$	$	SYM
cblr-13858	1874	25	40	40	NUM
cblr-13858	1874	26	billion	billion	NUM
cblr-13858	1874	27	in	in	ADP
cblr-13858	1874	28	2001	2001	NUM
cblr-13858	1874	29	and	and	CCONJ
cblr-13858	1874	30	$	$	SYM
cblr-13858	1874	31	30.5	30.5	NUM
cblr-13858	1874	32	billion	billion	NUM
cblr-13858	1874	33	in	in	ADP
cblr-13858	1874	34	2007	2007	NUM
cblr-13858	1874	35	.	.	PUNCT
cblr-13858	1875	1	parker	parker	PROPN
cblr-13858	1875	2	,	,	PUNCT
cblr-13858	1875	3	supra	supra	PROPN
cblr-13858	1875	4	note	note	PROPN
cblr-13858	1875	5	521	521	NUM
cblr-13858	1875	6	,	,	PUNCT
cblr-13858	1875	7	at	at	ADP
cblr-13858	1875	8	238	238	NUM
cblr-13858	1875	9	.	.	PUNCT
cblr-13858	1876	1	531	531	NUM
cblr-13858	1876	2	ibrahim	ibrahim	NOUN
cblr-13858	1876	3	,	,	PUNCT
cblr-13858	1876	4	supra	supra	PROPN
cblr-13858	1876	5	note	note	NOUN
cblr-13858	1876	6	514	514	NUM
cblr-13858	1876	7	,	,	PUNCT
cblr-13858	1876	8	at	at	ADP
cblr-13858	1876	9	1416	1416	NUM
cblr-13858	1876	10	.	.	PUNCT
cblr-13858	1877	1	52	52	NUM
cblr-13858	1877	2	see	see	VERB
cblr-13858	1877	3	gao	gao	PROPN
cblr-13858	1877	4	report	report	PROPN
cblr-13858	1877	5	,	,	PUNCT
cblr-13858	1877	6	supra	supra	PROPN
cblr-13858	1877	7	note	note	VERB
cblr-13858	1877	8	200	200	NUM
cblr-13858	1877	9	,	,	PUNCT
cblr-13858	1877	10	at	at	ADP
cblr-13858	1877	11	11	11	NUM
cblr-13858	1877	12	(	(	PUNCT
cblr-13858	1877	13	amounts	amount	NOUN
cblr-13858	1877	14	ranging	range	VERB
cblr-13858	1877	15	from	from	ADP
cblr-13858	1877	16	$	$	SYM
cblr-13858	1877	17	250,000	250,000	NUM
cblr-13858	1877	18	to	to	PART
cblr-13858	1877	19	$	$	SYM
cblr-13858	1877	20	5	5	NUM
cblr-13858	1877	21	million	million	NUM
cblr-13858	1877	22	)	)	PUNCT
cblr-13858	1877	23	.	.	PUNCT
cblr-13858	1878	1	533	533	NUM
cblr-13858	1878	2	dent	dent	NOUN
cblr-13858	1878	3	,	,	PUNCT
cblr-13858	1878	4	supra	supra	PROPN
cblr-13858	1878	5	note	note	NOUN
cblr-13858	1878	6	525	525	NUM
cblr-13858	1878	7	,	,	PUNCT
cblr-13858	1878	8	at	at	ADP
cblr-13858	1878	9	1080	1080	NUM
cblr-13858	1878	10	.	.	PUNCT
cblr-13858	1878	11	"	"	PUNCT
cblr-13858	1879	1	gao	gao	PROPN
cblr-13858	1879	2	report	report	PROPN
cblr-13858	1879	3	,	,	PUNCT
cblr-13858	1879	4	supra	supra	PROPN
cblr-13858	1879	5	note	note	VERB
cblr-13858	1879	6	200	200	NUM
cblr-13858	1879	7	,	,	PUNCT
cblr-13858	1879	8	at	at	ADP
cblr-13858	1879	9	3	3	NUM
cblr-13858	1879	10	.	.	X
cblr-13858	1880	1	columia.business	columia.business	NUM
cblr-13858	1880	2	law	law	NOUN
cblr-13858	1880	3	review	review	NOUN
cblr-13858	1880	4	[	[	X
cblr-13858	1880	5	vol	vol	NOUN
cblr-13858	1880	6	.	.	PUNCT
cblr-13858	1880	7	2012102	2012102	NUM
cblr-13858	1880	8	growth	growth	NOUN
cblr-13858	1880	9	.	.	PUNCT
cblr-13858	1881	1	"	"	PUNCT
cblr-13858	1881	2	'	'	PUNCT
cblr-13858	1881	3	furthermore	furthermore	ADV
cblr-13858	1881	4	,	,	PUNCT
cblr-13858	1881	5	venture	venture	NOUN
cblr-13858	1881	6	capitalists	capitalist	NOUN
cblr-13858	1881	7	are	be	AUX
cblr-13858	1881	8	extremely	extremely	ADV
cblr-13858	1881	9	selective	selective	ADJ
cblr-13858	1881	10	,	,	PUNCT
cblr-13858	1881	11	rejecting	reject	VERB
cblr-13858	1881	12	99	99	NUM
cblr-13858	1881	13	%	%	NOUN
cblr-13858	1881	14	of	of	ADP
cblr-13858	1881	15	the	the	DET
cblr-13858	1881	16	business	business	NOUN
cblr-13858	1881	17	plans	plan	NOUN
cblr-13858	1881	18	submitted	submit	VERB
cblr-13858	1881	19	to	to	PART
cblr-13858	1881	20	them.536	them.536	VERB
cblr-13858	1881	21	so	so	ADV
cblr-13858	1881	22	-	-	PUNCT
cblr-13858	1881	23	called	call	VERB
cblr-13858	1881	24	"	"	PUNCT
cblr-13858	1881	25	angel	angel	NOUN
cblr-13858	1881	26	investors	investor	NOUN
cblr-13858	1881	27	,	,	PUNCT
cblr-13858	1881	28	"	"	PUNCT
cblr-13858	1881	29	wealthy	wealthy	ADJ
cblr-13858	1881	30	individuals	individual	NOUN
cblr-13858	1881	31	with	with	ADP
cblr-13858	1881	32	substantial	substantial	ADJ
cblr-13858	1881	33	business	business	NOUN
cblr-13858	1881	34	and	and	CCONJ
cblr-13858	1881	35	entrepreneurial	entrepreneurial	ADJ
cblr-13858	1881	36	experience	experience	NOUN
cblr-13858	1881	37	,	,	PUNCT
cblr-13858	1881	38	"	"	PUNCT
cblr-13858	1881	39	are	be	AUX
cblr-13858	1881	40	the	the	DET
cblr-13858	1881	41	other	other	ADJ
cblr-13858	1881	42	major	major	ADJ
cblr-13858	1881	43	possibility	possibility	NOUN
cblr-13858	1881	44	for	for	ADP
cblr-13858	1881	45	initial	initial	ADJ
cblr-13858	1881	46	funding	funding	NOUN
cblr-13858	1881	47	.	.	PUNCT
cblr-13858	1882	1	angel	angel	NOUN
cblr-13858	1882	2	investors	investor	NOUN
cblr-13858	1882	3	often	often	ADV
cblr-13858	1882	4	invest	invest	VERB
cblr-13858	1882	5	on	on	ADP
cblr-13858	1882	6	a	a	DET
cblr-13858	1882	7	smaller	small	ADJ
cblr-13858	1882	8	scale	scale	NOUN
cblr-13858	1882	9	than	than	ADP
cblr-13858	1882	10	venture	venture	NOUN
cblr-13858	1882	11	capital	capital	NOUN
cblr-13858	1882	12	firms,'53	firms,'53	PROPN
cblr-13858	1883	1	and	and	CCONJ
cblr-13858	1883	2	they	they	PRON
cblr-13858	1883	3	are	be	AUX
cblr-13858	1883	4	usually	usually	ADV
cblr-13858	1883	5	more	more	ADV
cblr-13858	1883	6	willing	willing	ADJ
cblr-13858	1883	7	to	to	PART
cblr-13858	1883	8	invest	invest	VERB
cblr-13858	1883	9	in	in	ADP
cblr-13858	1883	10	startup	startup	NOUN
cblr-13858	1883	11	companies.5	companies.5	NOUN
cblr-13858	1883	12	39	39	NUM
cblr-13858	1883	13	a	a	DET
cblr-13858	1883	14	typical	typical	ADJ
cblr-13858	1883	15	financing	financing	NOUN
cblr-13858	1883	16	round	round	NOUN
cblr-13858	1883	17	for	for	ADP
cblr-13858	1883	18	an	an	DET
cblr-13858	1883	19	angel	angel	NOUN
cblr-13858	1883	20	investor	investor	NOUN
cblr-13858	1883	21	ranges	range	VERB
cblr-13858	1883	22	from	from	ADP
cblr-13858	1883	23	$	$	SYM
cblr-13858	1883	24	100,000	100,000	NUM
cblr-13858	1883	25	to	to	PART
cblr-13858	1883	26	$	$	SYM
cblr-13858	1883	27	2	2	NUM
cblr-13858	1883	28	million.540	million.540	NOUN
cblr-13858	1883	29	some	some	DET
cblr-13858	1883	30	angel	angel	NOUN
cblr-13858	1883	31	investors	investor	NOUN
cblr-13858	1883	32	may	may	AUX
cblr-13858	1883	33	be	be	AUX
cblr-13858	1883	34	willing	willing	ADJ
cblr-13858	1883	35	to	to	PART
cblr-13858	1883	36	provide	provide	VERB
cblr-13858	1883	37	as	as	ADV
cblr-13858	1883	38	little	little	ADJ
cblr-13858	1883	39	as	as	ADP
cblr-13858	1883	40	$	$	SYM
cblr-13858	1883	41	25,000,41	25,000,41	NUM
cblr-13858	1883	42	'	'	PUNCT
cblr-13858	1883	43	but	but	CCONJ
cblr-13858	1883	44	one	one	NUM
cblr-13858	1883	45	source	source	NOUN
cblr-13858	1883	46	indicates	indicate	VERB
cblr-13858	1883	47	that	that	SCONJ
cblr-13858	1883	48	the	the	DET
cblr-13858	1883	49	minimum	minimum	ADJ
cblr-13858	1883	50	deal	deal	NOUN
cblr-13858	1883	51	size	size	NOUN
cblr-13858	1883	52	for	for	ADP
cblr-13858	1883	53	most	most	ADJ
cblr-13858	1883	54	angel	angel	NOUN
cblr-13858	1883	55	investors	investor	NOUN
cblr-13858	1883	56	in	in	ADP
cblr-13858	1883	57	the	the	DET
cblr-13858	1883	58	united	united	PROPN
cblr-13858	1883	59	states	states	PROPN
cblr-13858	1883	60	is	be	AUX
cblr-13858	1883	61	about	about	ADV
cblr-13858	1883	62	$	$	SYM
cblr-13858	1883	63	1	1	NUM
cblr-13858	1883	64	million	million	NUM
cblr-13858	1883	65	.	.	PUNCT
cblr-13858	1883	66	"	"	PUNCT
cblr-13858	1884	1	also	also	ADV
cblr-13858	1884	2	,	,	PUNCT
cblr-13858	1884	3	like	like	ADP
cblr-13858	1884	4	venture	venture	NOUN
cblr-13858	1884	5	capitalists	capitalist	NOUN
cblr-13858	1884	6	,	,	PUNCT
cblr-13858	1884	7	angel	angel	NOUN
cblr-13858	1884	8	investors	investor	NOUN
cblr-13858	1884	9	generally	generally	ADV
cblr-13858	1884	10	look	look	VERB
cblr-13858	1884	11	for	for	ADP
cblr-13858	1884	12	"	"	PUNCT
cblr-13858	1884	13	high	high	ADJ
cblr-13858	1884	14	-	-	PUNCT
cblr-13858	1884	15	growth	growth	NOUN
cblr-13858	1884	16	,	,	PUNCT
cblr-13858	1884	17	high	high	ADJ
cblr-13858	1884	18	-	-	PUNCT
cblr-13858	1884	19	return	return	NOUN
cblr-13858	1884	20	investment	investment	NOUN
cblr-13858	1884	21	opportunities,"5	opportunities,"5	ADJ
cblr-13858	1884	22	1	1	NUM
cblr-13858	1884	23	3	3	NUM
cblr-13858	1884	24	so	so	ADV
cblr-13858	1884	25	many	many	ADJ
cblr-13858	1884	26	small	small	ADJ
cblr-13858	1884	27	companies	company	NOUN
cblr-13858	1884	28	would	would	AUX
cblr-13858	1884	29	not	not	PART
cblr-13858	1884	30	qualify	qualify	VERB
cblr-13858	1884	31	.	.	PUNCT
cblr-13858	1885	1	angel	angel	NOUN
cblr-13858	1885	2	investors	investor	NOUN
cblr-13858	1885	3	by	by	ADP
cblr-13858	1885	4	themselves	themselves	PRON
cblr-13858	1885	5	are	be	AUX
cblr-13858	1885	6	not	not	PART
cblr-13858	1885	7	currently	currently	ADV
cblr-13858	1885	8	filling	fill	VERB
cblr-13858	1885	9	the	the	DET
cblr-13858	1885	10	small	small	ADJ
cblr-13858	1885	11	business	business	NOUN
cblr-13858	1885	12	funding	fund	VERB
cblr-13858	1885	13	gap.5	gap.5	PROPN
cblr-13858	1885	14	"	"	PUNCT
cblr-13858	1885	15	crowdfunding	crowdfunding	NOUN
cblr-13858	1885	16	makes	make	VERB
cblr-13858	1885	17	new	new	ADJ
cblr-13858	1885	18	sources	source	NOUN
cblr-13858	1885	19	of	of	ADP
cblr-13858	1885	20	capital	capital	NOUN
cblr-13858	1885	21	available	available	ADJ
cblr-13858	1885	22	to	to	ADP
cblr-13858	1885	23	small	small	ADJ
cblr-13858	1885	24	businesses.4	businesses.4	NOUN
cblr-13858	1885	25	5	5	NUM
cblr-13858	1885	26	it	it	PRON
cblr-13858	1885	27	opens	open	VERB
cblr-13858	1885	28	business	business	NOUN
cblr-13858	1885	29	investment	investment	NOUN
cblr-13858	1885	30	to	to	ADP
cblr-13858	1885	31	smaller	small	ADJ
cblr-13858	1885	32	.	.	PUNCT
cblr-13858	1886	1	fisch	fisch	PROPN
cblr-13858	1886	2	,	,	PUNCT
cblr-13858	1886	3	supra	supra	PROPN
cblr-13858	1886	4	note	note	NOUN
cblr-13858	1886	5	514	514	NUM
cblr-13858	1886	6	,	,	PUNCT
cblr-13858	1886	7	at	at	ADP
cblr-13858	1886	8	62	62	NUM
cblr-13858	1886	9	;	;	PUNCT
cblr-13858	1886	10	gao	gao	PROPN
cblr-13858	1886	11	report	report	PROPN
cblr-13858	1886	12	,	,	PUNCT
cblr-13858	1886	13	supra	supra	PROPN
cblr-13858	1886	14	note	note	VERB
cblr-13858	1886	15	200	200	NUM
cblr-13858	1886	16	,	,	PUNCT
cblr-13858	1886	17	at	at	ADP
cblr-13858	1886	18	10	10	NUM
cblr-13858	1886	19	.	.	PUNCT
cblr-13858	1887	1	..	..	PUNCT
cblr-13858	1887	2	6	6	NUM
cblr-13858	1887	3	fisch	fisch	PROPN
cblr-13858	1887	4	,	,	PUNCT
cblr-13858	1887	5	supra	supra	PROPN
cblr-13858	1887	6	note	note	NOUN
cblr-13858	1887	7	514	514	NUM
cblr-13858	1887	8	,	,	PUNCT
cblr-13858	1887	9	at	at	ADP
cblr-13858	1887	10	20	20	NUM
cblr-13858	1887	11	;	;	PUNCT
cblr-13858	1887	12	gao	gao	PROPN
cblr-13858	1887	13	report	report	PROPN
cblr-13858	1887	14	,	,	PUNCT
cblr-13858	1887	15	supra	supra	PROPN
cblr-13858	1887	16	note	note	VERB
cblr-13858	1887	17	200	200	NUM
cblr-13858	1887	18	,	,	PUNCT
cblr-13858	1887	19	at	at	ADP
cblr-13858	1887	20	20	20	NUM
cblr-13858	1887	21	.	.	PUNCT
cblr-13858	1887	22	..	..	PUNCT
cblr-13858	1888	1	sjostrom	sjostrom	ADJ
cblr-13858	1888	2	,	,	PUNCT
cblr-13858	1888	3	supra	supra	PROPN
cblr-13858	1888	4	note	note	NOUN
cblr-13858	1888	5	198	198	NUM
cblr-13858	1888	6	,	,	PUNCT
cblr-13858	1888	7	at	at	ADP
cblr-13858	1888	8	5	5	NUM
cblr-13858	1888	9	.	.	NOUN
cblr-13858	1888	10	538	538	NUM
cblr-13858	1888	11	cable	cable	NOUN
cblr-13858	1888	12	,	,	PUNCT
cblr-13858	1888	13	supra	supra	PROPN
cblr-13858	1888	14	note	note	NOUN
cblr-13858	1888	15	254	254	NUM
cblr-13858	1888	16	,	,	PUNCT
cblr-13858	1888	17	at	at	ADP
cblr-13858	1888	18	115	115	NUM
cblr-13858	1888	19	;	;	PUNCT
cblr-13858	1888	20	fisch	fisch	PROPN
cblr-13858	1888	21	,	,	PUNCT
cblr-13858	1888	22	supra	supra	PROPN
cblr-13858	1888	23	note	note	NOUN
cblr-13858	1888	24	514	514	NUM
cblr-13858	1888	25	,	,	PUNCT
cblr-13858	1888	26	at	at	ADP
cblr-13858	1888	27	62	62	NUM
cblr-13858	1888	28	.	.	PUNCT
cblr-13858	1888	29	.	.	PUNCT
cblr-13858	1889	1	gao	gao	PROPN
cblr-13858	1889	2	report	report	PROPN
cblr-13858	1889	3	,	,	PUNCT
cblr-13858	1889	4	supra	supra	PROPN
cblr-13858	1889	5	note	note	VERB
cblr-13858	1889	6	200	200	NUM
cblr-13858	1889	7	,	,	PUNCT
cblr-13858	1889	8	at	at	ADP
cblr-13858	1889	9	10	10	NUM
cblr-13858	1889	10	;	;	PUNCT
cblr-13858	1889	11	ibrahim	ibrahim	PROPN
cblr-13858	1889	12	,	,	PUNCT
cblr-13858	1889	13	supra	supra	PROPN
cblr-13858	1889	14	note	note	NOUN
cblr-13858	1889	15	514	514	NUM
cblr-13858	1889	16	,	,	PUNCT
cblr-13858	1889	17	at	at	ADP
cblr-13858	1889	18	1406	1406	NUM
cblr-13858	1889	19	.	.	PUNCT
cblr-13858	1890	1	according	accord	VERB
cblr-13858	1890	2	to	to	ADP
cblr-13858	1890	3	amatucci	amatucci	NOUN
cblr-13858	1890	4	and	and	CCONJ
cblr-13858	1890	5	sohl	sohl	PROPN
cblr-13858	1890	6	,	,	PUNCT
cblr-13858	1890	7	the	the	DET
cblr-13858	1890	8	percentage	percentage	NOUN
cblr-13858	1890	9	of	of	ADP
cblr-13858	1890	10	angel	angel	NOUN
cblr-13858	1890	11	deals	deal	NOUN
cblr-13858	1890	12	involving	involve	VERB
cblr-13858	1890	13	the	the	DET
cblr-13858	1890	14	seed	seed	NOUN
cblr-13858	1890	15	and	and	CCONJ
cblr-13858	1890	16	startup	startup	VERB
cblr-13858	1890	17	stages	stage	NOUN
cblr-13858	1890	18	of	of	ADP
cblr-13858	1890	19	business	business	NOUN
cblr-13858	1890	20	was	be	AUX
cblr-13858	1890	21	45	45	NUM
cblr-13858	1890	22	%	%	NOUN
cblr-13858	1890	23	in	in	ADP
cblr-13858	1890	24	2004	2004	NUM
cblr-13858	1890	25	,	,	PUNCT
cblr-13858	1890	26	52	52	NUM
cblr-13858	1890	27	%	%	NOUN
cblr-13858	1890	28	in	in	ADP
cblr-13858	1890	29	2003	2003	NUM
cblr-13858	1890	30	,	,	PUNCT
cblr-13858	1890	31	and	and	CCONJ
cblr-13858	1890	32	50	50	NUM
cblr-13858	1890	33	%	%	NOUN
cblr-13858	1890	34	in	in	ADP
cblr-13858	1890	35	2002	2002	NUM
cblr-13858	1890	36	.	.	PUNCT
cblr-13858	1891	1	f.	f.	PROPN
cblr-13858	1891	2	m.	m.	PROPN
cblr-13858	1891	3	amatucci	amatucci	PROPN
cblr-13858	1891	4	&	&	CCONJ
cblr-13858	1891	5	j.	j.	PROPN
cblr-13858	1891	6	e.	e.	PROPN
cblr-13858	1891	7	sohl	sohl	PROPN
cblr-13858	1891	8	,	,	PUNCT
cblr-13858	1891	9	business	business	NOUN
cblr-13858	1891	10	angels	angel	NOUN
cblr-13858	1891	11	:	:	PUNCT
cblr-13858	1891	12	investment	investment	NOUN
cblr-13858	1891	13	processes	process	NOUN
cblr-13858	1891	14	,	,	PUNCT
cblr-13858	1891	15	outcomes	outcome	NOUN
cblr-13858	1891	16	and	and	CCONJ
cblr-13858	1891	17	current	current	ADJ
cblr-13858	1891	18	trends	trend	NOUN
cblr-13858	1891	19	,	,	PUNCT
cblr-13858	1891	20	in	in	ADP
cblr-13858	1891	21	a.	a.	NOUN
cblr-13858	1891	22	zacharakis	zacharakis	PROPN
cblr-13858	1891	23	&	&	CCONJ
cblr-13858	1891	24	s.	s.	PROPN
cblr-13858	1891	25	spinelli	spinelli	PROPN
cblr-13858	1891	26	,	,	PUNCT
cblr-13858	1891	27	jr	jr	PROPN
cblr-13858	1891	28	.	.	PROPN
cblr-13858	1891	29	,	,	PUNCT
cblr-13858	1891	30	2	2	NUM
cblr-13858	1891	31	entrepreneurship	entrepreneurship	NOUN
cblr-13858	1891	32	:	:	PUNCT
cblr-13858	1891	33	the	the	DET
cblr-13858	1891	34	engine	engine	NOUN
cblr-13858	1891	35	of	of	ADP
cblr-13858	1891	36	growth	growth	NOUN
cblr-13858	1891	37	87	87	NUM
cblr-13858	1891	38	,	,	PUNCT
cblr-13858	1891	39	88	88	NUM
cblr-13858	1891	40	(	(	PUNCT
cblr-13858	1891	41	2007	2007	NUM
cblr-13858	1891	42	)	)	PUNCT
cblr-13858	1891	43	.	.	PUNCT
cblr-13858	1892	1	o	o	X
cblr-13858	1892	2	ibrahim	ibrahim	PROPN
cblr-13858	1892	3	,	,	PUNCT
cblr-13858	1892	4	supra	supra	PROPN
cblr-13858	1892	5	note	note	NOUN
cblr-13858	1892	6	514	514	NUM
cblr-13858	1892	7	,	,	PUNCT
cblr-13858	1892	8	at	at	ADP
cblr-13858	1892	9	1418	1418	NUM
cblr-13858	1892	10	;	;	PUNCT
cblr-13858	1892	11	sjostrom	sjostrom	ADJ
cblr-13858	1892	12	,	,	PUNCT
cblr-13858	1892	13	supra	supra	PROPN
cblr-13858	1892	14	note	note	NOUN
cblr-13858	1892	15	198	198	NUM
cblr-13858	1892	16	,	,	PUNCT
cblr-13858	1892	17	at	at	ADP
cblr-13858	1892	18	6	6	NUM
cblr-13858	1892	19	.	.	PUNCT
cblr-13858	1892	20	see	see	VERB
cblr-13858	1892	21	also	also	ADV
cblr-13858	1892	22	amatucci	amatucci	PROPN
cblr-13858	1892	23	&	&	CCONJ
cblr-13858	1892	24	sohl	sohl	PROPN
cblr-13858	1892	25	,	,	PUNCT
cblr-13858	1892	26	supra	supra	PROPN
cblr-13858	1892	27	note	note	PROPN
cblr-13858	1892	28	539	539	NUM
cblr-13858	1892	29	,	,	PUNCT
cblr-13858	1892	30	at	at	ADP
cblr-13858	1892	31	88	88	NUM
cblr-13858	1892	32	(	(	PUNCT
cblr-13858	1892	33	average	average	ADJ
cblr-13858	1892	34	angel	angel	NOUN
cblr-13858	1892	35	investment	investment	NOUN
cblr-13858	1892	36	of	of	ADP
cblr-13858	1892	37	$	$	SYM
cblr-13858	1892	38	470,000	470,000	NUM
cblr-13858	1892	39	in	in	ADP
cblr-13858	1892	40	2004	2004	NUM
cblr-13858	1892	41	)	)	PUNCT
cblr-13858	1892	42	.	.	PUNCT
cblr-13858	1893	1	"	"	PUNCT
cblr-13858	1894	1	gao	gao	PROPN
cblr-13858	1894	2	report	report	PROPN
cblr-13858	1894	3	,	,	PUNCT
cblr-13858	1894	4	supra	supra	PROPN
cblr-13858	1894	5	note	note	VERB
cblr-13858	1894	6	200	200	NUM
cblr-13858	1894	7	,	,	PUNCT
cblr-13858	1894	8	at	at	ADP
cblr-13858	1894	9	10	10	NUM
cblr-13858	1894	10	.	.	PUNCT
cblr-13858	1895	1	54	54	NUM
cblr-13858	1895	2	parker	parker	NOUN
cblr-13858	1895	3	,	,	PUNCT
cblr-13858	1895	4	supra	supra	PROPN
cblr-13858	1895	5	note	note	PROPN
cblr-13858	1895	6	521	521	NUM
cblr-13858	1895	7	,	,	PUNCT
cblr-13858	1895	8	at	at	ADP
cblr-13858	1895	9	249	249	NUM
cblr-13858	1895	10	.	.	PUNCT
cblr-13858	1896	1	w	w	PROPN
cblr-13858	1896	2	gao	gao	PROPN
cblr-13858	1896	3	report	report	PROPN
cblr-13858	1896	4	,	,	PUNCT
cblr-13858	1896	5	supra	supra	PROPN
cblr-13858	1896	6	note	note	VERB
cblr-13858	1896	7	200	200	NUM
cblr-13858	1896	8	,	,	PUNCT
cblr-13858	1896	9	at	at	ADP
cblr-13858	1896	10	10	10	NUM
cblr-13858	1896	11	.	.	PUNCT
cblr-13858	1897	1	see	see	VERB
cblr-13858	1897	2	generally	generally	ADV
cblr-13858	1897	3	cable	cable	NOUN
cblr-13858	1897	4	,	,	PUNCT
cblr-13858	1897	5	supra	supra	PROPN
cblr-13858	1897	6	note	note	PROPN
cblr-13858	1897	7	254	254	NUM
cblr-13858	1897	8	(	(	PUNCT
cblr-13858	1897	9	suggesting	suggest	VERB
cblr-13858	1897	10	regulatory	regulatory	ADJ
cblr-13858	1897	11	changes	change	NOUN
cblr-13858	1897	12	to	to	PART
cblr-13858	1897	13	enable	enable	VERB
cblr-13858	1897	14	more	more	ADJ
cblr-13858	1897	15	angel	angel	NOUN
cblr-13858	1897	16	investing	investing	NOUN
cblr-13858	1897	17	)	)	PUNCT
cblr-13858	1897	18	.	.	PUNCT
cblr-13858	1898	1	"	"	PUNCT
cblr-13858	1898	2	see	see	VERB
cblr-13858	1898	3	heminway	heminway	NOUN
cblr-13858	1898	4	and	and	CCONJ
cblr-13858	1898	5	hoffman	hoffman	NOUN
cblr-13858	1898	6	,	,	PUNCT
cblr-13858	1898	7	supra	supra	PROPN
cblr-13858	1898	8	note	note	PROPN
cblr-13858	1898	9	142	142	NUM
cblr-13858	1898	10	,	,	PUNCT
cblr-13858	1898	11	at	at	ADP
cblr-13858	1898	12	931	931	NUM
cblr-13858	1898	13	(	(	PUNCT
cblr-13858	1898	14	arguing	argue	VERB
cblr-13858	1898	15	that	that	SCONJ
cblr-13858	1898	16	crowdfunding	crowdfunding	NOUN
cblr-13858	1898	17	"	"	PUNCT
cblr-13858	1898	18	enables	enable	VERB
cblr-13858	1898	19	entrepreneurs	entrepreneur	NOUN
cblr-13858	1898	20	to	to	PART
cblr-13858	1898	21	more	more	ADV
cblr-13858	1898	22	quickly	quickly	ADV
cblr-13858	1898	23	and	and	CCONJ
cblr-13858	1898	24	easily	easily	ADV
cblr-13858	1898	25	identify	identify	VERB
cblr-13858	1898	26	crowdfunding	crowdfunding	NOUN
cblr-13858	1898	27	and	and	CCONJ
cblr-13858	1898	28	securities	security	NOUN
cblr-13858	1898	29	la	la	PRON
cblr-13858	1898	30	ws	ws	PROPN
cblr-13858	1898	31	i03no	i03no	PROPN
cblr-13858	1898	32	.	.	PUNCT
cblr-13858	1899	1	1:1	1:1	NUM
cblr-13858	1899	2	]	]	X
cblr-13858	1899	3	columbia	columbia	PROPN
cblr-13858	1899	4	business	business	PROPN
cblr-13858	1899	5	law	law	PROPN
cblr-13858	1899	6	review	review	VERB
cblr-13858	1899	7	investors	investor	NOUN
cblr-13858	1899	8	who	who	PRON
cblr-13858	1899	9	have	have	AUX
cblr-13858	1899	10	not	not	PART
cblr-13858	1899	11	traditionally	traditionally	ADV
cblr-13858	1899	12	participated	participate	VERB
cblr-13858	1899	13	in	in	ADP
cblr-13858	1899	14	private	private	ADJ
cblr-13858	1899	15	securities	security	NOUN
cblr-13858	1899	16	offerings	offering	NOUN
cblr-13858	1899	17	.	.	PUNCT
cblr-13858	1900	1	those	those	DET
cblr-13858	1900	2	investors	investor	NOUN
cblr-13858	1900	3	have	have	VERB
cblr-13858	1900	4	less	less	ADJ
cblr-13858	1900	5	money	money	NOUN
cblr-13858	1900	6	to	to	PART
cblr-13858	1900	7	invest	invest	VERB
cblr-13858	1900	8	,	,	PUNCT
cblr-13858	1900	9	so	so	SCONJ
cblr-13858	1900	10	they	they	PRON
cblr-13858	1900	11	would	would	AUX
cblr-13858	1900	12	be	be	AUX
cblr-13858	1900	13	willing	willing	ADJ
cblr-13858	1900	14	to	to	PART
cblr-13858	1900	15	fund	fund	VERB
cblr-13858	1900	16	smaller	small	ADJ
cblr-13858	1900	17	business	business	NOUN
cblr-13858	1900	18	opportunities	opportunity	NOUN
cblr-13858	1900	19	that	that	PRON
cblr-13858	1900	20	the	the	DET
cblr-13858	1900	21	venture	venture	NOUN
cblr-13858	1900	22	capitalists	capitalist	NOUN
cblr-13858	1900	23	and	and	CCONJ
cblr-13858	1900	24	angel	angel	NOUN
cblr-13858	1900	25	investors	investor	NOUN
cblr-13858	1900	26	would	would	AUX
cblr-13858	1900	27	not	not	PART
cblr-13858	1900	28	touch	touch	VERB
cblr-13858	1900	29	.	.	PUNCT
cblr-13858	1901	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1901	2	also	also	ADV
cblr-13858	1901	3	gives	give	VERB
cblr-13858	1901	4	poorer	poor	ADJ
cblr-13858	1901	5	entrepreneurs	entrepreneur	NOUN
cblr-13858	1901	6	whose	whose	DET
cblr-13858	1901	7	friends	friend	NOUN
cblr-13858	1901	8	and	and	CCONJ
cblr-13858	1901	9	family	family	NOUN
cblr-13858	1901	10	lack	lack	VERB
cblr-13858	1901	11	the	the	DET
cblr-13858	1901	12	wealth	wealth	NOUN
cblr-13858	1901	13	to	to	PART
cblr-13858	1901	14	provide	provide	VERB
cblr-13858	1901	15	seed	seed	NOUN
cblr-13858	1901	16	capital	capital	NOUN
cblr-13858	1901	17	somewhere	somewhere	ADV
cblr-13858	1901	18	else	else	ADV
cblr-13858	1901	19	to	to	PART
cblr-13858	1901	20	turn	turn	VERB
cblr-13858	1901	21	.	.	PUNCT
cblr-13858	1902	1	but	but	CCONJ
cblr-13858	1902	2	what	what	PRON
cblr-13858	1902	3	about	about	ADP
cblr-13858	1902	4	the	the	DET
cblr-13858	1902	5	other	other	ADJ
cblr-13858	1902	6	benefits	benefit	NOUN
cblr-13858	1902	7	that	that	PRON
cblr-13858	1902	8	venture	venture	NOUN
cblr-13858	1902	9	capitalists	capitalist	NOUN
cblr-13858	1902	10	and	and	CCONJ
cblr-13858	1902	11	angel	angel	NOUN
cblr-13858	1902	12	investors	investor	NOUN
cblr-13858	1902	13	provide	provide	VERB
cblr-13858	1902	14	to	to	ADP
cblr-13858	1902	15	small	small	ADJ
cblr-13858	1902	16	business	business	NOUN
cblr-13858	1902	17	entrepreneurs	entrepreneur	NOUN
cblr-13858	1902	18	?	?	PUNCT
cblr-13858	1903	1	in	in	ADP
cblr-13858	1903	2	addition	addition	NOUN
cblr-13858	1903	3	to	to	ADP
cblr-13858	1903	4	the	the	DET
cblr-13858	1903	5	capital	capital	NOUN
cblr-13858	1903	6	they	they	PRON
cblr-13858	1903	7	invest	invest	VERB
cblr-13858	1903	8	,	,	PUNCT
cblr-13858	1903	9	venture	venture	NOUN
cblr-13858	1903	10	capitalists	capitalist	NOUN
cblr-13858	1903	11	and	and	CCONJ
cblr-13858	1903	12	angel	angel	NOUN
cblr-13858	1903	13	investors	investor	NOUN
cblr-13858	1903	14	typically	typically	ADV
cblr-13858	1903	15	provide	provide	VERB
cblr-13858	1903	16	companies	company	NOUN
cblr-13858	1903	17	with	with	ADP
cblr-13858	1903	18	managerial	managerial	ADJ
cblr-13858	1903	19	and	and	CCONJ
cblr-13858	1903	20	monitoring	monitor	VERB
cblr-13858	1903	21	services	service	NOUN
cblr-13858	1903	22	.	.	PUNCT
cblr-13858	1904	1	"4	"4	ADJ
cblr-13858	1904	2	6	6	NUM
cblr-13858	1904	3	if	if	SCONJ
cblr-13858	1904	4	startups	startup	NOUN
cblr-13858	1904	5	turn	turn	VERB
cblr-13858	1904	6	to	to	ADP
cblr-13858	1904	7	passive	passive	ADJ
cblr-13858	1904	8	,	,	PUNCT
cblr-13858	1904	9	unsophisticated	unsophisticated	ADJ
cblr-13858	1904	10	public	public	ADJ
cblr-13858	1904	11	investors	investor	NOUN
cblr-13858	1904	12	,	,	PUNCT
cblr-13858	1904	13	they	they	PRON
cblr-13858	1904	14	will	will	AUX
cblr-13858	1904	15	not	not	PART
cblr-13858	1904	16	receive	receive	VERB
cblr-13858	1904	17	the	the	DET
cblr-13858	1904	18	collateral	collateral	ADJ
cblr-13858	1904	19	services	service	NOUN
cblr-13858	1904	20	provided	provide	VERB
cblr-13858	1904	21	by	by	ADP
cblr-13858	1904	22	sophisticated	sophisticated	ADJ
cblr-13858	1904	23	venture	venture	NOUN
cblr-13858	1904	24	capitalists	capitalist	NOUN
cblr-13858	1904	25	and	and	CCONJ
cblr-13858	1904	26	angel	angel	NOUN
cblr-13858	1904	27	investors.5	investors.5	PROPN
cblr-13858	1904	28	47	47	NUM
cblr-13858	1904	29	however	however	ADV
cblr-13858	1904	30	,	,	PUNCT
cblr-13858	1904	31	crowdfunding	crowdfunding	NOUN
cblr-13858	1904	32	is	be	AUX
cblr-13858	1904	33	not	not	PART
cblr-13858	1904	34	a	a	DET
cblr-13858	1904	35	substitute	substitute	NOUN
cblr-13858	1904	36	for	for	ADP
cblr-13858	1904	37	venture	venture	NOUN
cblr-13858	1904	38	capital	capital	NOUN
cblr-13858	1904	39	or	or	CCONJ
cblr-13858	1904	40	angel	angel	NOUN
cblr-13858	1904	41	investing	investing	NOUN
cblr-13858	1904	42	;	;	PUNCT
cblr-13858	1904	43	it	it	PRON
cblr-13858	1904	44	is	be	AUX
cblr-13858	1904	45	aimed	aim	VERB
cblr-13858	1904	46	at	at	ADP
cblr-13858	1904	47	entrepreneurs	entrepreneur	NOUN
cblr-13858	1904	48	who	who	PRON
cblr-13858	1904	49	do	do	AUX
cblr-13858	1904	50	not	not	PART
cblr-13858	1904	51	have	have	VERB
cblr-13858	1904	52	access	access	NOUN
cblr-13858	1904	53	to	to	ADP
cblr-13858	1904	54	such	such	ADJ
cblr-13858	1904	55	funding	funding	NOUN
cblr-13858	1904	56	.	.	PUNCT
cblr-13858	1905	1	the	the	DET
cblr-13858	1905	2	entrepreneurs	entrepreneur	NOUN
cblr-13858	1905	3	most	most	ADV
cblr-13858	1905	4	likely	likely	ADJ
cblr-13858	1905	5	to	to	PART
cblr-13858	1905	6	engage	engage	VERB
cblr-13858	1905	7	in	in	ADP
cblr-13858	1905	8	crowdfunding	crowdfunding	NOUN
cblr-13858	1905	9	would	would	AUX
cblr-13858	1905	10	not	not	PART
cblr-13858	1905	11	,	,	PUNCT
cblr-13858	1905	12	in	in	ADP
cblr-13858	1905	13	any	any	DET
cblr-13858	1905	14	event	event	NOUN
cblr-13858	1905	15	,	,	PUNCT
cblr-13858	1905	16	have	have	VERB
cblr-13858	1905	17	access	access	NOUN
cblr-13858	1905	18	to	to	ADP
cblr-13858	1905	19	the	the	DET
cblr-13858	1905	20	other	other	ADJ
cblr-13858	1905	21	services	service	NOUN
cblr-13858	1905	22	that	that	PRON
cblr-13858	1905	23	venture	venture	VERB
cblr-13858	1905	24	capitalists	capitalist	NOUN
cblr-13858	1905	25	and	and	CCONJ
cblr-13858	1905	26	angel	angel	NOUN
cblr-13858	1905	27	investors	investor	NOUN
cblr-13858	1905	28	provide	provide	VERB
cblr-13858	1905	29	.	.	PUNCT
cblr-13858	1906	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1906	2	is	be	AUX
cblr-13858	1906	3	not	not	PART
cblr-13858	1906	4	a	a	DET
cblr-13858	1906	5	panacea	panacea	NOUN
cblr-13858	1906	6	for	for	ADP
cblr-13858	1906	7	small	small	ADJ
cblr-13858	1906	8	businesses	business	NOUN
cblr-13858	1906	9	'	'	PART
cblr-13858	1906	10	financing	financing	NOUN
cblr-13858	1906	11	issues	issue	NOUN
cblr-13858	1906	12	.	.	PUNCT
cblr-13858	1907	1	it	it	PRON
cblr-13858	1907	2	will	will	AUX
cblr-13858	1907	3	not	not	PART
cblr-13858	1907	4	completely	completely	ADV
cblr-13858	1907	5	eliminate	eliminate	VERB
cblr-13858	1907	6	the	the	DET
cblr-13858	1907	7	capital	capital	NOUN
cblr-13858	1907	8	gap	gap	NOUN
cblr-13858	1907	9	.	.	PUNCT
cblr-13858	1908	1	it	it	PRON
cblr-13858	1908	2	will	will	AUX
cblr-13858	1908	3	,	,	PUNCT
cblr-13858	1908	4	however	however	ADV
cblr-13858	1908	5	,	,	PUNCT
cblr-13858	1908	6	open	open	ADJ
cblr-13858	1908	7	investment	investment	NOUN
cblr-13858	1908	8	to	to	ADP
cblr-13858	1908	9	new	new	ADJ
cblr-13858	1908	10	sources	source	NOUN
cblr-13858	1908	11	of	of	ADP
cblr-13858	1908	12	capital	capital	NOUN
cblr-13858	1908	13	and	and	CCONJ
cblr-13858	1908	14	provide	provide	VERB
cblr-13858	1908	15	a	a	DET
cblr-13858	1908	16	platform	platform	NOUN
cblr-13858	1908	17	that	that	PRON
cblr-13858	1908	18	allows	allow	VERB
cblr-13858	1908	19	investors	investor	NOUN
cblr-13858	1908	20	with	with	ADP
cblr-13858	1908	21	unused	unused	ADJ
cblr-13858	1908	22	capital	capital	NOUN
cblr-13858	1908	23	to	to	PART
cblr-13858	1908	24	connect	connect	VERB
cblr-13858	1908	25	with	with	ADP
cblr-13858	1908	26	entrepreneurs	entrepreneur	NOUN
cblr-13858	1908	27	who	who	PRON
cblr-13858	1908	28	need	need	VERB
cblr-13858	1908	29	it	it	PRON
cblr-13858	1908	30	.	.	PUNCT
cblr-13858	1909	1	b.	b.	PROPN
cblr-13858	1909	2	investor	investor	PROPN
cblr-13858	1909	3	protection	protection	PROPN
cblr-13858	1909	4	:	:	PUNCT
cblr-13858	1909	5	the	the	DET
cblr-13858	1909	6	effects	effect	NOUN
cblr-13858	1909	7	of	of	ADP
cblr-13858	1909	8	crowdfunding	crowdfunde	VERB
cblr-13858	1909	9	on	on	ADP
cblr-13858	1909	10	investors	investor	NOUN
cblr-13858	1909	11	crowdfunding	crowdfunde	VERB
cblr-13858	1909	12	sites	site	NOUN
cblr-13858	1909	13	make	make	VERB
cblr-13858	1909	14	it	it	PRON
cblr-13858	1909	15	possible	possible	ADJ
cblr-13858	1909	16	for	for	SCONJ
cblr-13858	1909	17	relatively	relatively	ADV
cblr-13858	1909	18	unsophisticated	unsophisticated	ADJ
cblr-13858	1909	19	members	member	NOUN
cblr-13858	1909	20	of	of	ADP
cblr-13858	1909	21	the	the	DET
cblr-13858	1909	22	general	general	ADJ
cblr-13858	1909	23	public	public	NOUN
cblr-13858	1909	24	to	to	PART
cblr-13858	1909	25	invest	invest	VERB
cblr-13858	1909	26	in	in	ADP
cblr-13858	1909	27	particularly	particularly	ADV
cblr-13858	1909	28	risky	risky	ADJ
cblr-13858	1909	29	ventures	venture	NOUN
cblr-13858	1909	30	.	.	PUNCT
cblr-13858	1910	1	investor	investor	NOUN
cblr-13858	1910	2	protection	protection	NOUN
cblr-13858	1910	3	is	be	AUX
cblr-13858	1910	4	,	,	PUNCT
cblr-13858	1910	5	therefore	therefore	ADV
cblr-13858	1910	6	,	,	PUNCT
cblr-13858	1910	7	supporter	supporter	NOUN
cblr-13858	1910	8	-	-	PUNCT
cblr-13858	1910	9	investors	investor	NOUN
cblr-13858	1910	10	who	who	PRON
cblr-13858	1910	11	are	be	AUX
cblr-13858	1910	12	willing	willing	ADJ
cblr-13858	1910	13	and	and	CCONJ
cblr-13858	1910	14	able	able	ADJ
cblr-13858	1910	15	to	to	PART
cblr-13858	1910	16	fund	fund	VERB
cblr-13858	1910	17	their	their	PRON
cblr-13858	1910	18	businesses	business	NOUN
cblr-13858	1910	19	or	or	CCONJ
cblr-13858	1910	20	projects	project	NOUN
cblr-13858	1910	21	"	"	PUNCT
cblr-13858	1910	22	)	)	PUNCT
cblr-13858	1910	23	.	.	PUNCT
cblr-13858	1910	24	'	'	PUNCT
cblr-13858	1911	1	parker	parker	PROPN
cblr-13858	1911	2	,	,	PUNCT
cblr-13858	1911	3	supra	supra	PROPN
cblr-13858	1911	4	note	note	PROPN
cblr-13858	1911	5	521	521	NUM
cblr-13858	1911	6	,	,	PUNCT
cblr-13858	1911	7	at	at	ADP
cblr-13858	1911	8	239	239	NUM
cblr-13858	1911	9	-	-	SYM
cblr-13858	1911	10	40	40	NUM
cblr-13858	1911	11	;	;	PUNCT
cblr-13858	1911	12	fisch	fisch	PROPN
cblr-13858	1911	13	,	,	PUNCT
cblr-13858	1911	14	supra	supra	PROPN
cblr-13858	1911	15	note	note	NOUN
cblr-13858	1911	16	514	514	NUM
cblr-13858	1911	17	,	,	PUNCT
cblr-13858	1911	18	at	at	ADP
cblr-13858	1911	19	84	84	NUM
cblr-13858	1911	20	;	;	PUNCT
cblr-13858	1911	21	ibrahim	ibrahim	PROPN
cblr-13858	1911	22	,	,	PUNCT
cblr-13858	1911	23	supra	supra	PROPN
cblr-13858	1911	24	note	note	NOUN
cblr-13858	1911	25	514	514	NUM
cblr-13858	1911	26	,	,	PUNCT
cblr-13858	1911	27	at	at	ADP
cblr-13858	1911	28	1419	1419	NUM
cblr-13858	1911	29	;	;	PUNCT
cblr-13858	1911	30	gao	gao	PROPN
cblr-13858	1911	31	report	report	PROPN
cblr-13858	1911	32	,	,	PUNCT
cblr-13858	1911	33	supra	supra	PROPN
cblr-13858	1911	34	note	note	VERB
cblr-13858	1911	35	200	200	NUM
cblr-13858	1911	36	,	,	PUNCT
cblr-13858	1911	37	at	at	ADP
cblr-13858	1911	38	11	11	NUM
cblr-13858	1911	39	.	.	PUNCT
cblr-13858	1911	40	"	"	PUNCT
cblr-13858	1912	1	see	see	VERB
cblr-13858	1912	2	fisch	fisch	PROPN
cblr-13858	1912	3	,	,	PUNCT
cblr-13858	1912	4	supra	supra	PROPN
cblr-13858	1912	5	note	note	NOUN
cblr-13858	1912	6	514	514	NUM
cblr-13858	1912	7	,	,	PUNCT
cblr-13858	1912	8	at	at	ADP
cblr-13858	1912	9	86	86	NUM
cblr-13858	1912	10	(	(	PUNCT
cblr-13858	1912	11	arguing	argue	VERB
cblr-13858	1912	12	that	that	SCONJ
cblr-13858	1912	13	if	if	SCONJ
cblr-13858	1912	14	angel	angel	NOUN
cblr-13858	1912	15	investor	investor	NOUN
cblr-13858	1912	16	funding	funding	NOUN
cblr-13858	1912	17	were	be	AUX
cblr-13858	1912	18	"	"	PUNCT
cblr-13858	1912	19	replaced	replace	VERB
cblr-13858	1912	20	by	by	ADP
cblr-13858	1912	21	dispersed	disperse	VERB
cblr-13858	1912	22	passive	passive	ADJ
cblr-13858	1912	23	public	public	ADJ
cblr-13858	1912	24	investors	investor	NOUN
cblr-13858	1912	25	,	,	PUNCT
cblr-13858	1912	26	the	the	DET
cblr-13858	1912	27	collateral	collateral	NOUN
cblr-13858	1912	28	monitoring	monitoring	NOUN
cblr-13858	1912	29	and	and	CCONJ
cblr-13858	1912	30	managing	manage	VERB
cblr-13858	1912	31	services	service	NOUN
cblr-13858	1912	32	are	be	AUX
cblr-13858	1912	33	likely	likely	ADJ
cblr-13858	1912	34	to	to	PART
cblr-13858	1912	35	be	be	AUX
cblr-13858	1912	36	eliminated	eliminate	VERB
cblr-13858	1912	37	"	"	PUNCT
cblr-13858	1912	38	)	)	PUNCT
cblr-13858	1912	39	.	.	PUNCT
cblr-13858	1913	1	104	104	NUM
cblr-13858	1914	1	[	[	X
cblr-13858	1914	2	vol	vol	NOUN
cblr-13858	1914	3	.	.	NOUN
cblr-13858	1914	4	2012	2012	NUM
cblr-13858	1914	5	an	an	DET
cblr-13858	1914	6	important	important	ADJ
cblr-13858	1914	7	issue	issue	NOUN
cblr-13858	1914	8	.	.	PUNCT
cblr-13858	1915	1	a	a	DET
cblr-13858	1915	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1915	3	exemption	exemption	NOUN
cblr-13858	1915	4	,	,	PUNCT
cblr-13858	1915	5	properly	properly	ADV
cblr-13858	1915	6	structured	structure	VERB
cblr-13858	1915	7	,	,	PUNCT
cblr-13858	1915	8	can	can	AUX
cblr-13858	1915	9	ameliorate	ameliorate	VERB
cblr-13858	1915	10	some	some	PRON
cblr-13858	1915	11	,	,	PUNCT
cblr-13858	1915	12	but	but	CCONJ
cblr-13858	1915	13	not	not	PART
cblr-13858	1915	14	all	all	PRON
cblr-13858	1915	15	,	,	PUNCT
cblr-13858	1915	16	of	of	ADP
cblr-13858	1915	17	the	the	DET
cblr-13858	1915	18	risk	risk	NOUN
cblr-13858	1915	19	.	.	PUNCT
cblr-13858	1916	1	but	but	CCONJ
cblr-13858	1916	2	investments	investment	NOUN
cblr-13858	1916	3	in	in	ADP
cblr-13858	1916	4	small	small	ADJ
cblr-13858	1916	5	businesses	business	NOUN
cblr-13858	1916	6	,	,	PUNCT
cblr-13858	1916	7	whether	whether	SCONJ
cblr-13858	1916	8	or	or	CCONJ
cblr-13858	1916	9	not	not	PART
cblr-13858	1916	10	those	those	DET
cblr-13858	1916	11	investments	investment	NOUN
cblr-13858	1916	12	are	be	AUX
cblr-13858	1916	13	facilitated	facilitate	VERB
cblr-13858	1916	14	through	through	ADP
cblr-13858	1916	15	crowdfunding	crowdfunding	NOUN
cblr-13858	1916	16	,	,	PUNCT
cblr-13858	1916	17	are	be	AUX
cblr-13858	1916	18	inherently	inherently	ADV
cblr-13858	1916	19	risky	risky	ADJ
cblr-13858	1916	20	.	.	PUNCT
cblr-13858	1917	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1917	2	possesses	possess	VERB
cblr-13858	1917	3	no	no	DET
cblr-13858	1917	4	magical	magical	ADJ
cblr-13858	1917	5	properties	property	NOUN
cblr-13858	1917	6	that	that	PRON
cblr-13858	1917	7	prevent	prevent	VERB
cblr-13858	1917	8	investors	investor	NOUN
cblr-13858	1917	9	from	from	ADP
cblr-13858	1917	10	losing	lose	VERB
cblr-13858	1917	11	money	money	NOUN
cblr-13858	1917	12	just	just	ADV
cblr-13858	1917	13	like	like	ADP
cblr-13858	1917	14	other	other	ADJ
cblr-13858	1917	15	investors	investor	NOUN
cblr-13858	1917	16	.	.	PUNCT
cblr-13858	1918	1	however	however	ADV
cblr-13858	1918	2	,	,	PUNCT
cblr-13858	1918	3	at	at	ADP
cblr-13858	1918	4	the	the	DET
cblr-13858	1918	5	margin	margin	NOUN
cblr-13858	1918	6	,	,	PUNCT
cblr-13858	1918	7	the	the	DET
cblr-13858	1918	8	cost	cost	NOUN
cblr-13858	1918	9	to	to	ADP
cblr-13858	1918	10	investors	investor	NOUN
cblr-13858	1918	11	of	of	ADP
cblr-13858	1918	12	a	a	DET
cblr-13858	1918	13	crowdfunding	crowdfunding	NOUN
cblr-13858	1918	14	exemption	exemption	NOUN
cblr-13858	1918	15	is	be	AUX
cblr-13858	1918	16	likely	likely	ADJ
cblr-13858	1918	17	to	to	PART
cblr-13858	1918	18	be	be	AUX
cblr-13858	1918	19	low	low	ADJ
cblr-13858	1918	20	.	.	PUNCT
cblr-13858	1919	1	investors	investor	NOUN
cblr-13858	1919	2	are	be	AUX
cblr-13858	1919	3	already	already	ADV
cblr-13858	1919	4	contributing	contribute	VERB
cblr-13858	1919	5	substantial	substantial	ADJ
cblr-13858	1919	6	amounts	amount	NOUN
cblr-13858	1919	7	of	of	ADP
cblr-13858	1919	8	money	money	NOUN
cblr-13858	1919	9	to	to	ADP
cblr-13858	1919	10	unregulated	unregulated	ADJ
cblr-13858	1919	11	crowdfunding	crowdfunding	NOUN
cblr-13858	1919	12	offerings	offering	NOUN
cblr-13858	1919	13	,	,	PUNCT
cblr-13858	1919	14	although	although	SCONJ
cblr-13858	1919	15	not	not	PART
cblr-13858	1919	16	for	for	ADP
cblr-13858	1919	17	securities	security	NOUN
cblr-13858	1919	18	.	.	PUNCT
cblr-13858	1920	1	those	those	DET
cblr-13858	1920	2	crowdfunding	crowdfunde	VERB
cblr-13858	1920	3	investments	investment	NOUN
cblr-13858	1920	4	are	be	AUX
cblr-13858	1920	5	subject	subject	ADJ
cblr-13858	1920	6	to	to	ADP
cblr-13858	1920	7	the	the	DET
cblr-13858	1920	8	same	same	ADJ
cblr-13858	1920	9	risk	risk	NOUN
cblr-13858	1920	10	of	of	ADP
cblr-13858	1920	11	loss	loss	NOUN
cblr-13858	1920	12	as	as	ADP
cblr-13858	1920	13	crowdfunded	crowdfunde	VERB
cblr-13858	1920	14	securities	security	NOUN
cblr-13858	1920	15	,	,	PUNCT
cblr-13858	1920	16	but	but	CCONJ
cblr-13858	1920	17	do	do	AUX
cblr-13858	1920	18	not	not	PART
cblr-13858	1920	19	offer	offer	VERB
cblr-13858	1920	20	the	the	DET
cblr-13858	1920	21	upside	upside	ADJ
cblr-13858	1920	22	potential	potential	NOUN
cblr-13858	1920	23	of	of	ADP
cblr-13858	1920	24	a	a	DET
cblr-13858	1920	25	securities	security	NOUN
cblr-13858	1920	26	investment	investment	NOUN
cblr-13858	1920	27	.	.	PUNCT
cblr-13858	1921	1	allowing	allow	VERB
cblr-13858	1921	2	crowdfunding	crowdfunde	VERB
cblr-13858	1921	3	entrepreneurs	entrepreneur	NOUN
cblr-13858	1921	4	to	to	PART
cblr-13858	1921	5	sell	sell	VERB
cblr-13858	1921	6	securities	security	NOUN
cblr-13858	1921	7	would	would	AUX
cblr-13858	1921	8	,	,	PUNCT
cblr-13858	1921	9	therefore	therefore	ADV
cblr-13858	1921	10	,	,	PUNCT
cblr-13858	1921	11	be	be	AUX
cblr-13858	1921	12	a	a	DET
cblr-13858	1921	13	net	net	ADJ
cblr-13858	1921	14	gain	gain	NOUN
cblr-13858	1921	15	to	to	ADP
cblr-13858	1921	16	investors	investor	NOUN
cblr-13858	1921	17	,	,	PUNCT
cblr-13858	1921	18	increasing	increase	VERB
cblr-13858	1921	19	the	the	DET
cblr-13858	1921	20	possibility	possibility	NOUN
cblr-13858	1921	21	of	of	ADP
cblr-13858	1921	22	gains	gain	NOUN
cblr-13858	1921	23	without	without	ADP
cblr-13858	1921	24	any	any	DET
cblr-13858	1921	25	increase	increase	NOUN
cblr-13858	1921	26	in	in	ADP
cblr-13858	1921	27	the	the	DET
cblr-13858	1921	28	risk	risk	NOUN
cblr-13858	1921	29	.	.	PUNCT
cblr-13858	1922	1	1	1	X
cblr-13858	1922	2	.	.	X
cblr-13858	1923	1	the	the	DET
cblr-13858	1923	2	risks	risk	NOUN
cblr-13858	1923	3	of	of	ADP
cblr-13858	1923	4	small	small	ADJ
cblr-13858	1923	5	business	business	NOUN
cblr-13858	1923	6	investment	investment	NOUN
cblr-13858	1923	7	investing	invest	VERB
cblr-13858	1923	8	in	in	ADP
cblr-13858	1923	9	small	small	ADJ
cblr-13858	1923	10	businesses	business	NOUN
cblr-13858	1923	11	is	be	AUX
cblr-13858	1923	12	very	very	ADV
cblr-13858	1923	13	risky	risky	ADJ
cblr-13858	1923	14	.	.	PUNCT
cblr-13858	1924	1	small	small	ADJ
cblr-13858	1924	2	business	business	NOUN
cblr-13858	1924	3	investments	investment	NOUN
cblr-13858	1924	4	are	be	AUX
cblr-13858	1924	5	illiquid	illiquid	ADJ
cblr-13858	1924	6	,	,	PUNCT
cblr-13858	1924	7	and	and	CCONJ
cblr-13858	1924	8	small	small	ADJ
cblr-13858	1924	9	businesses	business	NOUN
cblr-13858	1924	10	,	,	PUNCT
cblr-13858	1924	11	especially	especially	ADV
cblr-13858	1924	12	startups	startup	NOUN
cblr-13858	1924	13	,	,	PUNCT
cblr-13858	1924	14	are	be	AUX
cblr-13858	1924	15	much	much	ADV
cblr-13858	1924	16	more	more	ADV
cblr-13858	1924	17	likely	likely	ADJ
cblr-13858	1924	18	to	to	PART
cblr-13858	1924	19	fail	fail	VERB
cblr-13858	1924	20	than	than	SCONJ
cblr-13858	1924	21	are	be	AUX
cblr-13858	1924	22	more	more	ADV
cblr-13858	1924	23	established	establish	VERB
cblr-13858	1924	24	companies.5	companies.5	NOUN
cblr-13858	1924	25	'	'	PART
cblr-13858	1924	26	losses	loss	NOUN
cblr-13858	1924	27	due	due	ADP
cblr-13858	1924	28	to	to	ADP
cblr-13858	1924	29	fraud	fraud	NOUN
cblr-13858	1924	30	and	and	CCONJ
cblr-13858	1924	31	selfdealing	selfdealing	NOUN
cblr-13858	1924	32	are	be	AUX
cblr-13858	1924	33	also	also	ADV
cblr-13858	1924	34	much	much	ADV
cblr-13858	1924	35	more	more	ADV
cblr-13858	1924	36	likely.4	likely.4	ADJ
cblr-13858	1924	37	small	small	ADJ
cblr-13858	1924	38	business	business	NOUN
cblr-13858	1924	39	investments	investment	NOUN
cblr-13858	1924	40	expose	expose	VERB
cblr-13858	1924	41	investors	investor	NOUN
cblr-13858	1924	42	to	to	ADP
cblr-13858	1924	43	a	a	DET
cblr-13858	1924	44	disproportionate	disproportionate	ADJ
cblr-13858	1924	45	risk	risk	NOUN
cblr-13858	1924	46	of	of	ADP
cblr-13858	1924	47	fraud	fraud	NOUN
cblr-13858	1924	48	.	.	PUNCT
cblr-13858	1925	1	"'o	"'o	NOUN
cblr-13858	1926	1	the	the	DET
cblr-13858	1926	2	abuses	abuse	NOUN
cblr-13858	1926	3	in	in	ADP
cblr-13858	1926	4	the	the	DET
cblr-13858	1926	5	penny	penny	NOUN
cblr-13858	1926	6	stock	stock	NOUN
cblr-13858	1926	7	market	market	NOUN
cblr-13858	1926	8	in	in	ADP
cblr-13858	1926	9	the	the	DET
cblr-13858	1926	10	1980s	1980	NOUN
cblr-13858	1926	11	"	"	PUNCT
cblr-13858	1926	12	typify	typify	VERB
cblr-13858	1926	13	the	the	DET
cblr-13858	1926	14	securities	security	NOUN
cblr-13858	1926	15	fraud	fraud	PROPN
cblr-13858	1926	16	potential	potential	NOUN
cblr-13858	1926	17	associated	associate	VERB
cblr-13858	1926	18	with	with	ADP
cblr-13858	1926	19	direct	direct	ADJ
cblr-13858	1926	20	marketing	marketing	NOUN
cblr-13858	1926	21	of	of	ADP
cblr-13858	1926	22	microcap	microcap	PROPN
cblr-13858	1926	23	securities	security	NOUN
cblr-13858	1926	24	to	to	ADP
cblr-13858	1926	25	individual	individual	ADJ
cblr-13858	1926	26	investors	investor	NOUN
cblr-13858	1926	27	.	.	PUNCT
cblr-13858	1927	1	"	"	PUNCT
cblr-13858	1927	2	"	"	PUNCT
cblr-13858	1927	3	'	'	PUNCT
cblr-13858	1927	4	the	the	DET
cblr-13858	1927	5	sec	sec	PROPN
cblr-13858	1927	6	's	's	PART
cblr-13858	1927	7	experience	experience	NOUN
cblr-13858	1927	8	when	when	SCONJ
cblr-13858	1927	9	it	it	PRON
cblr-13858	1927	10	eased	ease	VERB
cblr-13858	1927	11	the	the	DET
cblr-13858	1927	12	requirements	requirement	NOUN
cblr-13858	1927	13	of	of	ADP
cblr-13858	1927	14	the	the	DET
cblr-13858	1927	15	rule	rule	NOUN
cblr-13858	1927	16	504	504	NUM
cblr-13858	1927	17	small	small	ADJ
cblr-13858	1927	18	offering	offering	NOUN
cblr-13858	1927	19	exemption	exemption	NOUN
cblr-13858	1927	20	in	in	ADP
cblr-13858	1927	21	the	the	DET
cblr-13858	1927	22	1990s	1990	NOUN
cblr-13858	1927	23	also	also	ADV
cblr-13858	1927	24	illustrates	illustrate	VERB
cblr-13858	1927	25	the	the	DET
cblr-13858	1927	26	potential	potential	ADJ
cblr-13858	1927	27	fraud	fraud	NOUN
cblr-13858	1927	28	associated	associate	VERB
cblr-13858	1927	29	with	with	ADP
cblr-13858	1927	30	unregulated	unregulated	ADJ
cblr-13858	1927	31	small	small	ADJ
cblr-13858	1927	32	offerings	offering	NOUN
cblr-13858	1927	33	.	.	PUNCT
cblr-13858	1928	1	the	the	DET
cblr-13858	1928	2	changes	change	NOUN
cblr-13858	1928	3	freed	free	VERB
cblr-13858	1928	4	rule	rule	VERB
cblr-13858	1928	5	504	504	NUM
cblr-13858	1928	6	offerings	offering	NOUN
cblr-13858	1928	7	from	from	ADP
cblr-13858	1928	8	federal	federal	ADJ
cblr-13858	1928	9	mandatory	mandatory	ADJ
cblr-13858	1928	10	disclosure	disclosure	NOUN
cblr-13858	1928	11	requirements	requirement	NOUN
cblr-13858	1928	12	even	even	ADV
cblr-13858	1928	13	when	when	SCONJ
cblr-13858	1928	14	those	those	DET
cblr-13858	1928	15	offerings	offering	NOUN
cblr-13858	1928	16	were	be	AUX
cblr-13858	1928	17	not	not	PART
cblr-13858	1928	18	5	5	NUM
cblr-13858	1928	19	i	i	PRON
cblr-13858	1928	20	d.	d.	NOUN
cblr-13858	1928	21	at	at	ADP
cblr-13858	1928	22	58	58	NUM
cblr-13858	1928	23	.	.	PUNCT
cblr-13858	1929	1	see	see	VERB
cblr-13858	1929	2	also	also	ADV
cblr-13858	1929	3	sjostrom	sjostrom	ADJ
cblr-13858	1929	4	,	,	PUNCT
cblr-13858	1929	5	supra	supra	PROPN
cblr-13858	1929	6	note	note	NOUN
cblr-13858	1929	7	198	198	NUM
cblr-13858	1929	8	,	,	PUNCT
cblr-13858	1929	9	at	at	ADP
cblr-13858	1929	10	586	586	NUM
cblr-13858	1929	11	.	.	SYM
cblr-13858	1929	12	54	54	NUM
cblr-13858	1929	13	fisch	fisch	PROPN
cblr-13858	1929	14	,	,	PUNCT
cblr-13858	1929	15	supra	supra	PROPN
cblr-13858	1929	16	note	note	NOUN
cblr-13858	1929	17	514	514	NUM
cblr-13858	1929	18	,	,	PUNCT
cblr-13858	1929	19	at	at	ADP
cblr-13858	1929	20	58	58	NUM
cblr-13858	1929	21	;	;	PUNCT
cblr-13858	1929	22	sjostrom	sjostrom	ADJ
cblr-13858	1929	23	,	,	PUNCT
cblr-13858	1929	24	supra	supra	PROPN
cblr-13858	1929	25	note	note	NOUN
cblr-13858	1929	26	198	198	NUM
cblr-13858	1929	27	,	,	PUNCT
cblr-13858	1929	28	at	at	ADP
cblr-13858	1929	29	586	586	NUM
cblr-13858	1929	30	.	.	PUNCT
cblr-13858	1930	1	"	"	PUNCT
cblr-13858	1930	2	o	o	PROPN
cblr-13858	1930	3	fisch	fisch	PROPN
cblr-13858	1930	4	,	,	PUNCT
cblr-13858	1930	5	supra	supra	PROPN
cblr-13858	1930	6	note	note	NOUN
cblr-13858	1930	7	514	514	NUM
cblr-13858	1930	8	,	,	PUNCT
cblr-13858	1930	9	at	at	ADP
cblr-13858	1930	10	58	58	NUM
cblr-13858	1930	11	;	;	PUNCT
cblr-13858	1930	12	sjostrom	sjostrom	ADJ
cblr-13858	1930	13	,	,	PUNCT
cblr-13858	1930	14	supra	supra	PROPN
cblr-13858	1930	15	note	note	NOUN
cblr-13858	1930	16	198	198	NUM
cblr-13858	1930	17	,	,	PUNCT
cblr-13858	1930	18	at	at	ADP
cblr-13858	1930	19	586	586	NUM
cblr-13858	1930	20	.	.	PUNCT
cblr-13858	1930	21	...	...	PUNCT
cblr-13858	1931	1	fisch	fisch	PROPN
cblr-13858	1931	2	,	,	PUNCT
cblr-13858	1931	3	supra	supra	PROPN
cblr-13858	1931	4	note	note	NOUN
cblr-13858	1931	5	514	514	NUM
cblr-13858	1931	6	,	,	PUNCT
cblr-13858	1931	7	at	at	ADP
cblr-13858	1931	8	82	82	NUM
cblr-13858	1931	9	.	.	PUNCT
cblr-13858	1931	10	105no	105no	NOUN
cblr-13858	1931	11	.	.	PUNCT
cblr-13858	1932	1	1	1	NUM
cblr-13858	1932	2	:	:	SYM
cblr-13858	1932	3	1	1	NUM
cblr-13858	1932	4	]	]	PUNCT
cblr-13858	1932	5	cro	cro	NOUN
cblr-13858	1932	6	wdfunding	wdfunding	NOUN
cblr-13858	1932	7	and	and	CCONJ
cblr-13858	1932	8	securities	security	NOUN
cblr-13858	1932	9	la	la	PROPN
cblr-13858	1932	10	ws	ws	PROPN
cblr-13858	1932	11	registered	register	VERB
cblr-13858	1932	12	at	at	ADP
cblr-13858	1932	13	the	the	DET
cblr-13858	1932	14	state	state	NOUN
cblr-13858	1932	15	level	level	NOUN
cblr-13858	1932	16	.	.	PUNCT
cblr-13858	1933	1	in	in	ADP
cblr-13858	1933	2	new	new	PROPN
cblr-13858	1933	3	york	york	PROPN
cblr-13858	1933	4	,	,	PUNCT
cblr-13858	1933	5	which	which	PRON
cblr-13858	1933	6	has	have	VERB
cblr-13858	1933	7	no	no	DET
cblr-13858	1933	8	state	state	NOUN
cblr-13858	1933	9	registration	registration	NOUN
cblr-13858	1933	10	requirement	requirement	NOUN
cblr-13858	1933	11	,	,	PUNCT
cblr-13858	1933	12	"	"	PUNCT
cblr-13858	1933	13	rule	rule	VERB
cblr-13858	1933	14	504	504	NUM
cblr-13858	1933	15	was	be	AUX
cblr-13858	1933	16	being	be	AUX
cblr-13858	1933	17	used	use	VERB
cblr-13858	1933	18	by	by	ADP
cblr-13858	1933	19	nefarious	nefarious	ADJ
cblr-13858	1933	20	promoters	promoter	NOUN
cblr-13858	1933	21	to	to	PART
cblr-13858	1933	22	distribute	distribute	VERB
cblr-13858	1933	23	up	up	ADP
cblr-13858	1933	24	to	to	PART
cblr-13858	1933	25	$	$	SYM
cblr-13858	1933	26	1	1	NUM
cblr-13858	1933	27	million	million	NUM
cblr-13858	1933	28	of	of	ADP
cblr-13858	1933	29	securities	security	NOUN
cblr-13858	1933	30	in	in	ADP
cblr-13858	1933	31	new	new	PROPN
cblr-13858	1933	32	york	york	PROPN
cblr-13858	1933	33	to	to	ADP
cblr-13858	1933	34	a	a	DET
cblr-13858	1933	35	select	select	ADJ
cblr-13858	1933	36	favored	favor	VERB
cblr-13858	1933	37	group	group	NOUN
cblr-13858	1933	38	,	,	PUNCT
cblr-13858	1933	39	followed	follow	VERB
cblr-13858	1933	40	promptly	promptly	ADV
cblr-13858	1933	41	by	by	ADP
cblr-13858	1933	42	boiler	boiler	NOUN
cblr-13858	1933	43	-	-	PUNCT
cblr-13858	1933	44	room	room	NOUN
cblr-13858	1933	45	promotions	promotion	NOUN
cblr-13858	1933	46	that	that	PRON
cblr-13858	1933	47	artificially	artificially	ADV
cblr-13858	1933	48	drove	drive	VERB
cblr-13858	1933	49	up	up	ADP
cblr-13858	1933	50	the	the	DET
cblr-13858	1933	51	secondary	secondary	ADJ
cblr-13858	1933	52	market	market	NOUN
cblr-13858	1933	53	price	price	NOUN
cblr-13858	1933	54	until	until	ADP
cblr-13858	1933	55	such	such	ADJ
cblr-13858	1933	56	time	time	NOUN
cblr-13858	1933	57	as	as	SCONJ
cblr-13858	1933	58	the	the	DET
cblr-13858	1933	59	initial	initial	ADJ
cblr-13858	1933	60	purchasers	purchaser	NOUN
cblr-13858	1933	61	could	could	AUX
cblr-13858	1933	62	sell	sell	VERB
cblr-13858	1933	63	their	their	PRON
cblr-13858	1933	64	shares	share	NOUN
cblr-13858	1933	65	at	at	ADP
cblr-13858	1933	66	a	a	DET
cblr-13858	1933	67	handsome	handsome	ADJ
cblr-13858	1933	68	profit	profit	NOUN
cblr-13858	1933	69	,	,	PUNCT
cblr-13858	1933	70	leaving	leave	VERB
cblr-13858	1933	71	the	the	DET
cblr-13858	1933	72	gullible	gullible	ADJ
cblr-13858	1933	73	crop	crop	NOUN
cblr-13858	1933	74	of	of	ADP
cblr-13858	1933	75	new	new	ADJ
cblr-13858	1933	76	investors	investor	NOUN
cblr-13858	1933	77	with	with	ADP
cblr-13858	1933	78	suddenly	suddenly	ADV
cblr-13858	1933	79	deflated	deflate	VERB
cblr-13858	1933	80	shares	share	NOUN
cblr-13858	1933	81	and	and	CCONJ
cblr-13858	1933	82	irrecoverable	irrecoverable	ADJ
cblr-13858	1933	83	losses	loss	NOUN
cblr-13858	1933	84	.	.	PUNCT
cblr-13858	1934	1	"552	"552	NOUN
cblr-13858	1934	2	even	even	ADV
cblr-13858	1934	3	absent	absent	ADJ
cblr-13858	1934	4	fraud	fraud	NOUN
cblr-13858	1934	5	,	,	PUNCT
cblr-13858	1934	6	investors	investor	NOUN
cblr-13858	1934	7	in	in	ADP
cblr-13858	1934	8	small	small	ADJ
cblr-13858	1934	9	businesses	business	NOUN
cblr-13858	1934	10	must	must	AUX
cblr-13858	1934	11	deal	deal	VERB
cblr-13858	1934	12	with	with	ADP
cblr-13858	1934	13	the	the	DET
cblr-13858	1934	14	potential	potential	ADJ
cblr-13858	1934	15	agency	agency	NOUN
cblr-13858	1934	16	costs	cost	NOUN
cblr-13858	1934	17	and	and	CCONJ
cblr-13858	1934	18	problems	problem	NOUN
cblr-13858	1934	19	of	of	ADP
cblr-13858	1934	20	opportunism	opportunism	NOUN
cblr-13858	1934	21	that	that	PRON
cblr-13858	1934	22	arise	arise	VERB
cblr-13858	1934	23	from	from	ADP
cblr-13858	1934	24	uncertainty	uncertainty	NOUN
cblr-13858	1934	25	and	and	CCONJ
cblr-13858	1934	26	information	information	NOUN
cblr-13858	1934	27	asymmetry.5	asymmetry.5	PROPN
cblr-13858	1934	28	3	3	NUM
cblr-13858	1934	29	uncertainty	uncertainty	NOUN
cblr-13858	1934	30	is	be	AUX
cblr-13858	1934	31	inherent	inherent	ADJ
cblr-13858	1934	32	in	in	ADP
cblr-13858	1934	33	startup	startup	NOUN
cblr-13858	1934	34	businesses	business	NOUN
cblr-13858	1934	35	.	.	PUNCT
cblr-13858	1935	1	at	at	ADP
cblr-13858	1935	2	the	the	DET
cblr-13858	1935	3	time	time	NOUN
cblr-13858	1935	4	of	of	ADP
cblr-13858	1935	5	investment	investment	NOUN
cblr-13858	1935	6	,	,	PUNCT
cblr-13858	1935	7	"	"	PUNCT
cblr-13858	1935	8	virtually	virtually	ADV
cblr-13858	1935	9	all	all	PRON
cblr-13858	1935	10	of	of	ADP
cblr-13858	1935	11	the	the	DET
cblr-13858	1935	12	important	important	ADJ
cblr-13858	1935	13	decisions	decision	NOUN
cblr-13858	1935	14	bearing	bear	VERB
cblr-13858	1935	15	on	on	ADP
cblr-13858	1935	16	the	the	DET
cblr-13858	1935	17	company	company	NOUN
cblr-13858	1935	18	's	's	PART
cblr-13858	1935	19	success	success	NOUN
cblr-13858	1935	20	remain	remain	VERB
cblr-13858	1935	21	to	to	PART
cblr-13858	1935	22	be	be	AUX
cblr-13858	1935	23	made	make	VERB
cblr-13858	1935	24	,	,	PUNCT
cblr-13858	1935	25	and	and	CCONJ
cblr-13858	1935	26	most	most	ADJ
cblr-13858	1935	27	of	of	ADP
cblr-13858	1935	28	the	the	DET
cblr-13858	1935	29	significant	significant	ADJ
cblr-13858	1935	30	uncertainties	uncertainty	NOUN
cblr-13858	1935	31	concerning	concern	VERB
cblr-13858	1935	32	the	the	DET
cblr-13858	1935	33	outcome	outcome	NOUN
cblr-13858	1935	34	of	of	ADP
cblr-13858	1935	35	the	the	DET
cblr-13858	1935	36	company	company	NOUN
cblr-13858	1935	37	's	's	PART
cblr-13858	1935	38	efforts	effort	NOUN
cblr-13858	1935	39	remain	remain	VERB
cblr-13858	1935	40	unresolved	unresolved	ADJ
cblr-13858	1935	41	.	.	PUNCT
cblr-13858	1936	1	"55	"55	PROPN
cblr-13858	1937	1	4	4	NUM
cblr-13858	1937	2	entrepreneurs	entrepreneur	NOUN
cblr-13858	1937	3	typically	typically	ADV
cblr-13858	1937	4	have	have	VERB
cblr-13858	1937	5	a	a	DET
cblr-13858	1937	6	business	business	NOUN
cblr-13858	1937	7	plan	plan	NOUN
cblr-13858	1937	8	laying	lay	VERB
cblr-13858	1937	9	out	out	ADP
cblr-13858	1937	10	a	a	DET
cblr-13858	1937	11	strategy	strategy	NOUN
cblr-13858	1937	12	but	but	CCONJ
cblr-13858	1937	13	,	,	PUNCT
cblr-13858	1937	14	at	at	ADP
cblr-13858	1937	15	the	the	DET
cblr-13858	1937	16	startup	startup	NOUN
cblr-13858	1937	17	phase	phase	NOUN
cblr-13858	1937	18	,	,	PUNCT
cblr-13858	1937	19	that	that	DET
cblr-13858	1937	20	plan	plan	NOUN
cblr-13858	1937	21	is	be	AUX
cblr-13858	1937	22	little	little	ADV
cblr-13858	1937	23	more	more	ADJ
cblr-13858	1937	24	than	than	ADP
cblr-13858	1937	25	a	a	DET
cblr-13858	1937	26	"	"	PUNCT
cblr-13858	1937	27	best	good	ADJ
cblr-13858	1937	28	guess	guess	NOUN
cblr-13858	1937	29	.	.	PUNCT
cblr-13858	1938	1	"55	"55	PROPN
cblr-13858	1939	1	at	at	ADP
cblr-13858	1939	2	that	that	DET
cblr-13858	1939	3	point	point	NOUN
cblr-13858	1939	4	,	,	PUNCT
cblr-13858	1939	5	many	many	ADJ
cblr-13858	1939	6	major	major	ADJ
cblr-13858	1939	7	strategic	strategic	ADJ
cblr-13858	1939	8	decisions	decision	NOUN
cblr-13858	1939	9	remain	remain	VERB
cblr-13858	1939	10	to	to	PART
cblr-13858	1939	11	be	be	AUX
cblr-13858	1939	12	made56	made56	VERB
cblr-13858	1939	13	,	,	PUNCT
cblr-13858	1939	14	and	and	CCONJ
cblr-13858	1939	15	they	they	PRON
cblr-13858	1939	16	will	will	AUX
cblr-13858	1939	17	be	be	AUX
cblr-13858	1939	18	made	make	VERB
cblr-13858	1939	19	by	by	ADP
cblr-13858	1939	20	a	a	DET
cblr-13858	1939	21	management	management	NOUN
cblr-13858	1939	22	whose	whose	DET
cblr-13858	1939	23	quality	quality	NOUN
cblr-13858	1939	24	is	be	AUX
cblr-13858	1939	25	unknown	unknown	ADJ
cblr-13858	1939	26	to	to	ADP
cblr-13858	1939	27	investors.5	investors.5	PROPN
cblr-13858	1939	28	'	'	PUNCT
cblr-13858	1939	29	the	the	DET
cblr-13858	1939	30	entrepreneur	entrepreneur	NOUN
cblr-13858	1939	31	's	's	PART
cblr-13858	1939	32	intentions	intention	NOUN
cblr-13858	1939	33	and	and	CCONJ
cblr-13858	1939	34	abilities	ability	NOUN
cblr-13858	1939	35	are	be	AUX
cblr-13858	1939	36	both	both	PRON
cblr-13858	1939	37	"	"	PUNCT
cblr-13858	1939	38	not	not	PART
cblr-13858	1939	39	easily	easily	ADV
cblr-13858	1939	40	observable	observable	ADJ
cblr-13858	1939	41	by	by	ADP
cblr-13858	1939	42	an	an	DET
cblr-13858	1939	43	investor	investor	NOUN
cblr-13858	1939	44	and	and	CCONJ
cblr-13858	1939	45	difficult	difficult	ADJ
cblr-13858	1939	46	for	for	SCONJ
cblr-13858	1939	47	an	an	DET
cblr-13858	1939	48	entrepreneur	entrepreneur	NOUN
cblr-13858	1939	49	to	to	PART
cblr-13858	1939	50	communicate	communicate	VERB
cblr-13858	1939	51	credibly	credibly	ADV
cblr-13858	1939	52	.	.	PUNCT
cblr-13858	1939	53	"*5	"*5	PUNCT
cblr-13858	1940	1	in	in	ADP
cblr-13858	1940	2	the	the	DET
cblr-13858	1940	3	case	case	NOUN
cblr-13858	1940	4	of	of	ADP
cblr-13858	1940	5	high	high	ADJ
cblr-13858	1940	6	-	-	PUNCT
cblr-13858	1940	7	technology	technology	NOUN
cblr-13858	1940	8	companies	company	NOUN
cblr-13858	1940	9	,	,	PUNCT
cblr-13858	1940	10	there	there	PRON
cblr-13858	1940	11	may	may	AUX
cblr-13858	1940	12	also	also	ADV
cblr-13858	1940	13	be	be	AUX
cblr-13858	1940	14	uncertainties	uncertainty	NOUN
cblr-13858	1940	15	about	about	ADP
cblr-13858	1940	16	the	the	DET
cblr-13858	1940	17	technology	technology	NOUN
cblr-13858	1940	18	itself	itself	PRON
cblr-13858	1940	19	,	,	PUNCT
cblr-13858	1940	20	including	include	VERB
cblr-13858	1940	21	whether	whether	SCONJ
cblr-13858	1940	22	the	the	DET
cblr-13858	1940	23	product	product	NOUN
cblr-13858	1940	24	works	work	VERB
cblr-13858	1940	25	and	and	CCONJ
cblr-13858	1940	26	552	552	NUM
cblr-13858	1940	27	cohn	cohn	PROPN
cblr-13858	1940	28	&	&	CCONJ
cblr-13858	1940	29	yadley	yadley	PROPN
cblr-13858	1940	30	,	,	PUNCT
cblr-13858	1940	31	supra	supra	PROPN
cblr-13858	1940	32	note	note	PROPN
cblr-13858	1940	33	11	11	NUM
cblr-13858	1940	34	,	,	PUNCT
cblr-13858	1940	35	at	at	ADP
cblr-13858	1940	36	71	71	NUM
cblr-13858	1940	37	-	-	SYM
cblr-13858	1940	38	72	72	NUM
cblr-13858	1940	39	.	.	PUNCT
cblr-13858	1941	1	see	see	VERB
cblr-13858	1941	2	also	also	ADV
cblr-13858	1941	3	revision	revision	NOUN
cblr-13858	1941	4	of	of	ADP
cblr-13858	1941	5	rule	rule	NOUN
cblr-13858	1941	6	504	504	NUM
cblr-13858	1941	7	of	of	ADP
cblr-13858	1941	8	regulation	regulation	NOUN
cblr-13858	1941	9	d	d	NOUN
cblr-13858	1941	10	,	,	PUNCT
cblr-13858	1941	11	the	the	DET
cblr-13858	1941	12	"	"	PUNCT
cblr-13858	1941	13	seed	seed	NOUN
cblr-13858	1941	14	capital	capital	NOUN
cblr-13858	1941	15	"	"	PUNCT
cblr-13858	1941	16	exemption	exemption	NOUN
cblr-13858	1941	17	,	,	PUNCT
cblr-13858	1941	18	securities	security	NOUN
cblr-13858	1941	19	act	act	NOUN
cblr-13858	1941	20	release	release	VERB
cblr-13858	1941	21	no	no	PRON
cblr-13858	1941	22	.	.	NOUN
cblr-13858	1941	23	7644	7644	NUM
cblr-13858	1941	24	,	,	PUNCT
cblr-13858	1941	25	1999	1999	NUM
cblr-13858	1941	26	wl	wl	NOUN
cblr-13858	1941	27	95490	95490	NUM
cblr-13858	1941	28	,	,	PUNCT
cblr-13858	1941	29	at	at	ADP
cblr-13858	1941	30	*	*	PROPN
cblr-13858	1941	31	2	2	NUM
cblr-13858	1941	32	(	(	PUNCT
cblr-13858	1941	33	feb	feb	X
cblr-13858	1941	34	.	.	PROPN
cblr-13858	1941	35	25	25	NUM
cblr-13858	1941	36	,	,	PUNCT
cblr-13858	1941	37	1999	1999	NUM
cblr-13858	1941	38	)	)	PUNCT
cblr-13858	1941	39	.	.	PUNCT
cblr-13858	1942	1	56	56	NUM
cblr-13858	1942	2	.	.	X
cblr-13858	1942	3	see	see	VERB
cblr-13858	1942	4	cable	cable	NOUN
cblr-13858	1942	5	,	,	PUNCT
cblr-13858	1942	6	supra	supra	PROPN
cblr-13858	1942	7	note	note	NOUN
cblr-13858	1942	8	254	254	NUM
cblr-13858	1942	9	,	,	PUNCT
cblr-13858	1942	10	at	at	ADP
cblr-13858	1942	11	121	121	NUM
cblr-13858	1942	12	-	-	SYM
cblr-13858	1942	13	22	22	NUM
cblr-13858	1942	14	(	(	PUNCT
cblr-13858	1942	15	2010	2010	NUM
cblr-13858	1942	16	)	)	PUNCT
cblr-13858	1942	17	;	;	PUNCT
cblr-13858	1942	18	ronald	ronald	PROPN
cblr-13858	1942	19	j.	j.	PROPN
cblr-13858	1942	20	gilson	gilson	PROPN
cblr-13858	1942	21	,	,	PUNCT
cblr-13858	1942	22	engineering	engineer	VERB
cblr-13858	1942	23	a	a	DET
cblr-13858	1942	24	venture	venture	NOUN
cblr-13858	1942	25	capital	capital	NOUN
cblr-13858	1942	26	market	market	NOUN
cblr-13858	1942	27	:	:	PUNCT
cblr-13858	1942	28	lessons	lesson	NOUN
cblr-13858	1942	29	from	from	ADP
cblr-13858	1942	30	the	the	DET
cblr-13858	1942	31	american	american	ADJ
cblr-13858	1942	32	experience	experience	NOUN
cblr-13858	1942	33	,	,	PUNCT
cblr-13858	1942	34	55	55	NUM
cblr-13858	1942	35	stan	stan	NOUN
cblr-13858	1942	36	.	.	PUNCT
cblr-13858	1943	1	l.	l.	PROPN
cblr-13858	1943	2	rev	rev	PROPN
cblr-13858	1943	3	.	.	PROPN
cblr-13858	1943	4	1067	1067	NUM
cblr-13858	1943	5	,	,	PUNCT
cblr-13858	1943	6	1076	1076	NUM
cblr-13858	1943	7	-	-	SYM
cblr-13858	1943	8	77	77	NUM
cblr-13858	1943	9	(	(	PUNCT
cblr-13858	1943	10	2003	2003	NUM
cblr-13858	1943	11	)	)	PUNCT
cblr-13858	1943	12	;	;	PUNCT
cblr-13858	1943	13	ibrahim	ibrahim	PROPN
cblr-13858	1943	14	,	,	PUNCT
cblr-13858	1943	15	supra	supra	PROPN
cblr-13858	1943	16	note	note	NOUN
cblr-13858	1943	17	514	514	NUM
cblr-13858	1943	18	,	,	PUNCT
cblr-13858	1943	19	at	at	ADP
cblr-13858	1943	20	1407	1407	NUM
cblr-13858	1943	21	.	.	PUNCT
cblr-13858	1944	1	"	"	PUNCT
cblr-13858	1944	2	"	"	PUNCT
cblr-13858	1944	3	gilson	gilson	PROPN
cblr-13858	1944	4	,	,	PUNCT
cblr-13858	1944	5	supra	supra	PROPN
cblr-13858	1944	6	note	note	PROPN
cblr-13858	1944	7	553	553	NUM
cblr-13858	1944	8	.	.	PUNCT
cblr-13858	1944	9	...	...	PUNCT
cblr-13858	1945	1	cable	cable	NOUN
cblr-13858	1945	2	,	,	PUNCT
cblr-13858	1945	3	supra	supra	PROPN
cblr-13858	1945	4	note	note	NOUN
cblr-13858	1945	5	254	254	NUM
cblr-13858	1945	6	,	,	PUNCT
cblr-13858	1945	7	at	at	ADP
cblr-13858	1945	8	121	121	NUM
cblr-13858	1945	9	-	-	SYM
cblr-13858	1945	10	22	22	NUM
cblr-13858	1945	11	.	.	PUNCT
cblr-13858	1946	1	55	55	NUM
cblr-13858	1947	1	i	i	PRON
cblr-13858	1947	2	d.	d.	VERB
cblr-13858	1947	3	at	at	ADP
cblr-13858	1947	4	122	122	NUM
cblr-13858	1947	5	.	.	PUNCT
cblr-13858	1947	6	.	.	PUNCT
cblr-13858	1947	7	'	'	PUNCT
cblr-13858	1948	1	gilson	gilson	PROPN
cblr-13858	1948	2	,	,	PUNCT
cblr-13858	1948	3	supra	supra	PROPN
cblr-13858	1948	4	note	note	PROPN
cblr-13858	1948	5	553	553	NUM
cblr-13858	1948	6	,	,	PUNCT
cblr-13858	1948	7	at	at	ADP
cblr-13858	1948	8	1077	1077	NUM
cblr-13858	1948	9	.	.	PUNCT
cblr-13858	1948	10	..	..	PUNCT
cblr-13858	1949	1	cable	cable	NOUN
cblr-13858	1949	2	,	,	PUNCT
cblr-13858	1949	3	supra	supra	PROPN
cblr-13858	1949	4	note	note	NOUN
cblr-13858	1949	5	254	254	NUM
cblr-13858	1949	6	,	,	PUNCT
cblr-13858	1949	7	at	at	ADP
cblr-13858	1949	8	122	122	NUM
cblr-13858	1949	9	.	.	PUNCT
cblr-13858	1950	1	see	see	VERB
cblr-13858	1950	2	also	also	ADV
cblr-13858	1950	3	gilson	gilson	PROPN
cblr-13858	1950	4	,	,	PUNCT
cblr-13858	1950	5	supra	supra	PROPN
cblr-13858	1950	6	note	note	PROPN
cblr-13858	1950	7	553	553	NUM
cblr-13858	1950	8	,	,	PUNCT
cblr-13858	1950	9	at	at	ADP
cblr-13858	1950	10	1077	1077	NUM
cblr-13858	1950	11	.	.	PUNCT
cblr-13858	1951	1	106	106	NUM
cblr-13858	1951	2	coluamia	coluamia	NOUN
cblr-13858	1951	3	b	b	PRON
cblr-13858	1951	4	usiness	usiness	NOUN
cblr-13858	1951	5	la	la	PROPN
cblr-13858	1951	6	w	w	PROPN
cblr-13858	1951	7	re	re	PROPN
cblr-13858	1951	8	vie	vie	PROPN
cblr-13858	1951	9	w	w	PROPN
cblr-13858	1952	1	[	[	X
cblr-13858	1952	2	vol	vol	NOUN
cblr-13858	1952	3	.	.	PUNCT
cblr-13858	1952	4	2012	2012	NUM
cblr-13858	1952	5	can	can	AUX
cblr-13858	1952	6	be	be	AUX
cblr-13858	1952	7	viably	viably	ADV
cblr-13858	1952	8	and	and	CCONJ
cblr-13858	1952	9	widely	widely	ADV
cblr-13858	1952	10	adopted	adopt	VERB
cblr-13858	1952	11	.	.	PUNCT
cblr-13858	1953	1	the	the	DET
cblr-13858	1953	2	entrepreneur	entrepreneur	NOUN
cblr-13858	1953	3	is	be	AUX
cblr-13858	1953	4	almost	almost	ADV
cblr-13858	1953	5	certain	certain	ADJ
cblr-13858	1953	6	to	to	PART
cblr-13858	1953	7	understand	understand	VERB
cblr-13858	1953	8	those	those	DET
cblr-13858	1953	9	issues	issue	NOUN
cblr-13858	1953	10	better	well	ADV
cblr-13858	1953	11	than	than	ADP
cblr-13858	1953	12	most	most	ADJ
cblr-13858	1953	13	investors.669	investors.669	NOUN
cblr-13858	1953	14	in	in	ADP
cblr-13858	1953	15	short	short	ADJ
cblr-13858	1953	16	,	,	PUNCT
cblr-13858	1953	17	the	the	DET
cblr-13858	1953	18	entrepreneur	entrepreneur	NOUN
cblr-13858	1953	19	holds	hold	VERB
cblr-13858	1953	20	all	all	DET
cblr-13858	1953	21	the	the	DET
cblr-13858	1953	22	cards	card	NOUN
cblr-13858	1953	23	.	.	PUNCT
cblr-13858	1954	1	investors	investor	NOUN
cblr-13858	1954	2	have	have	VERB
cblr-13858	1954	3	little	little	ADJ
cblr-13858	1954	4	information	information	NOUN
cblr-13858	1954	5	about	about	ADP
cblr-13858	1954	6	what	what	PRON
cblr-13858	1954	7	is	be	AUX
cblr-13858	1954	8	to	to	PART
cblr-13858	1954	9	come	come	VERB
cblr-13858	1954	10	and	and	CCONJ
cblr-13858	1954	11	little	little	ADJ
cblr-13858	1954	12	control	control	NOUN
cblr-13858	1954	13	over	over	ADP
cblr-13858	1954	14	what	what	PRON
cblr-13858	1954	15	the	the	DET
cblr-13858	1954	16	entrepreneur	entrepreneur	NOUN
cblr-13858	1954	17	does	do	AUX
cblr-13858	1954	18	.	.	PUNCT
cblr-13858	1955	1	this	this	PRON
cblr-13858	1955	2	presents	present	VERB
cblr-13858	1955	3	entrepreneurs	entrepreneur	NOUN
cblr-13858	1955	4	with	with	ADP
cblr-13858	1955	5	opportunities	opportunity	NOUN
cblr-13858	1955	6	for	for	ADP
cblr-13858	1955	7	self	self	NOUN
cblr-13858	1955	8	-	-	PUNCT
cblr-13858	1955	9	dealing	deal	VERB
cblr-13858	1955	10	,	,	PUNCT
cblr-13858	1955	11	excessive	excessive	ADJ
cblr-13858	1955	12	compensation	compensation	NOUN
cblr-13858	1955	13	,	,	PUNCT
cblr-13858	1955	14	misuse	misuse	NOUN
cblr-13858	1955	15	of	of	ADP
cblr-13858	1955	16	corporate	corporate	ADJ
cblr-13858	1955	17	opportunities	opportunity	NOUN
cblr-13858	1955	18	,	,	PUNCT
cblr-13858	1955	19	and	and	CCONJ
cblr-13858	1955	20	dilution	dilution	NOUN
cblr-13858	1955	21	of	of	ADP
cblr-13858	1955	22	investors	investor	NOUN
cblr-13858	1955	23	'	'	PART
cblr-13858	1955	24	interests	interest	NOUN
cblr-13858	1955	25	-	-	PUNCT
cblr-13858	1955	26	issues	issue	NOUN
cblr-13858	1955	27	similar	similar	ADJ
cblr-13858	1955	28	to	to	ADP
cblr-13858	1955	29	those	those	PRON
cblr-13858	1955	30	faced	face	VERB
cblr-13858	1955	31	by	by	ADP
cblr-13858	1955	32	investors	investor	NOUN
cblr-13858	1955	33	in	in	ADP
cblr-13858	1955	34	closely	closely	ADV
cblr-13858	1955	35	-	-	PUNCT
cblr-13858	1955	36	held	hold	VERB
cblr-13858	1955	37	corporations	corporation	NOUN
cblr-13858	1955	38	.	.	PUNCT
cblr-13858	1956	1	"	"	PUNCT
cblr-13858	1956	2	'	'	PUNCT
cblr-13858	1956	3	sophisticated	sophisticated	ADJ
cblr-13858	1956	4	venture	venture	NOUN
cblr-13858	1956	5	capital	capital	NOUN
cblr-13858	1956	6	funds	fund	NOUN
cblr-13858	1956	7	deal	deal	VERB
cblr-13858	1956	8	with	with	ADP
cblr-13858	1956	9	these	these	DET
cblr-13858	1956	10	problems	problem	NOUN
cblr-13858	1956	11	by	by	ADP
cblr-13858	1956	12	negotiating	negotiate	VERB
cblr-13858	1956	13	control	control	NOUN
cblr-13858	1956	14	rights	right	NOUN
cblr-13858	1956	15	and	and	CCONJ
cblr-13858	1956	16	negative	negative	ADJ
cblr-13858	1956	17	covenants	covenant	NOUN
cblr-13858	1956	18	requiring	require	VERB
cblr-13858	1956	19	investor	investor	NOUN
cblr-13858	1956	20	approval	approval	NOUN
cblr-13858	1956	21	for	for	ADP
cblr-13858	1956	22	certain	certain	ADJ
cblr-13858	1956	23	actions	action	NOUN
cblr-13858	1956	24	.	.	PUNCT
cblr-13858	1956	25	"	"	PUNCT
cblr-13858	1956	26	'	'	PUNCT
cblr-13858	1956	27	staged	stage	VERB
cblr-13858	1956	28	financing	financing	NOUN
cblr-13858	1956	29	complements	complement	NOUN
cblr-13858	1956	30	these	these	DET
cblr-13858	1956	31	protections.5	protections.5	PROPN
cblr-13858	1956	32	62	62	NUM
cblr-13858	1956	33	entrepreneurs	entrepreneur	NOUN
cblr-13858	1956	34	and	and	CCONJ
cblr-13858	1956	35	investors	investor	NOUN
cblr-13858	1956	36	"	"	PUNCT
cblr-13858	1956	37	recognize	recognize	VERB
cblr-13858	1956	38	that	that	SCONJ
cblr-13858	1956	39	the	the	DET
cblr-13858	1956	40	company	company	NOUN
cblr-13858	1956	41	will	will	AUX
cblr-13858	1956	42	need	need	VERB
cblr-13858	1956	43	additional	additional	ADJ
cblr-13858	1956	44	rounds	round	NOUN
cblr-13858	1956	45	of	of	ADP
cblr-13858	1956	46	financing	financing	NOUN
cblr-13858	1956	47	"	"	PUNCT
cblr-13858	1956	48	requiring	require	VERB
cblr-13858	1956	49	the	the	DET
cblr-13858	1956	50	cooperation	cooperation	NOUN
cblr-13858	1956	51	of	of	ADP
cblr-13858	1956	52	the	the	DET
cblr-13858	1956	53	venture	venture	NOUN
cblr-13858	1956	54	capitalists	capitalist	NOUN
cblr-13858	1956	55	.	.	PUNCT
cblr-13858	1957	1	"	"	PUNCT
cblr-13858	1957	2	'	'	PUNCT
cblr-13858	1957	3	the	the	DET
cblr-13858	1957	4	need	need	NOUN
cblr-13858	1957	5	to	to	PART
cblr-13858	1957	6	go	go	VERB
cblr-13858	1957	7	back	back	ADV
cblr-13858	1957	8	to	to	ADP
cblr-13858	1957	9	investors	investor	NOUN
cblr-13858	1957	10	for	for	ADP
cblr-13858	1957	11	future	future	ADJ
cblr-13858	1957	12	funding	funding	NOUN
cblr-13858	1957	13	should	should	AUX
cblr-13858	1957	14	constrain	constrain	VERB
cblr-13858	1957	15	self	self	NOUN
cblr-13858	1957	16	-	-	PUNCT
cblr-13858	1957	17	dealing	deal	VERB
cblr-13858	1957	18	,	,	PUNCT
cblr-13858	1957	19	opportunistic	opportunistic	ADJ
cblr-13858	1957	20	behavior	behavior	NOUN
cblr-13858	1957	21	by	by	ADP
cblr-13858	1957	22	the	the	DET
cblr-13858	1957	23	entrepreneur	entrepreneur	NOUN
cblr-13858	1957	24	.	.	PUNCT
cblr-13858	1958	1	most	most	ADJ
cblr-13858	1958	2	crowdfunding	crowdfunde	VERB
cblr-13858	1958	3	investors	investor	NOUN
cblr-13858	1958	4	will	will	AUX
cblr-13858	1958	5	not	not	PART
cblr-13858	1958	6	have	have	VERB
cblr-13858	1958	7	the	the	DET
cblr-13858	1958	8	sophistication	sophistication	NOUN
cblr-13858	1958	9	to	to	PART
cblr-13858	1958	10	understand	understand	VERB
cblr-13858	1958	11	the	the	DET
cblr-13858	1958	12	need	need	NOUN
cblr-13858	1958	13	for	for	ADP
cblr-13858	1958	14	or	or	CCONJ
cblr-13858	1958	15	benefits	benefit	NOUN
cblr-13858	1958	16	of	of	ADP
cblr-13858	1958	17	control	control	NOUN
cblr-13858	1958	18	rights	right	NOUN
cblr-13858	1958	19	or	or	CCONJ
cblr-13858	1958	20	protective	protective	ADJ
cblr-13858	1958	21	covenants	covenant	NOUN
cblr-13858	1958	22	.	.	PUNCT
cblr-13858	1959	1	even	even	ADV
cblr-13858	1959	2	if	if	SCONJ
cblr-13858	1959	3	they	they	PRON
cblr-13858	1959	4	were	be	AUX
cblr-13858	1959	5	sophisticated	sophisticate	VERB
cblr-13858	1959	6	enough	enough	ADV
cblr-13858	1959	7	to	to	PART
cblr-13858	1959	8	seek	seek	VERB
cblr-13858	1959	9	such	such	ADJ
cblr-13858	1959	10	protection	protection	NOUN
cblr-13858	1959	11	,	,	PUNCT
cblr-13858	1959	12	it	it	PRON
cblr-13858	1959	13	is	be	AUX
cblr-13858	1959	14	unclear	unclear	ADJ
cblr-13858	1959	15	how	how	SCONJ
cblr-13858	1959	16	they	they	PRON
cblr-13858	1959	17	would	would	AUX
cblr-13858	1959	18	negotiate	negotiate	VERB
cblr-13858	1959	19	for	for	ADP
cblr-13858	1959	20	it	it	PRON
cblr-13858	1959	21	,	,	PUNCT
cblr-13858	1959	22	or	or	CCONJ
cblr-13858	1959	23	whether	whether	SCONJ
cblr-13858	1959	24	it	it	PRON
cblr-13858	1959	25	would	would	AUX
cblr-13858	1959	26	be	be	AUX
cblr-13858	1959	27	worth	worth	ADJ
cblr-13858	1959	28	their	their	PRON
cblr-13858	1959	29	effort	effort	NOUN
cblr-13858	1959	30	.	.	PUNCT
cblr-13858	1960	1	the	the	DET
cblr-13858	1960	2	small	small	ADJ
cblr-13858	1960	3	amount	amount	NOUN
cblr-13858	1960	4	invested	invest	VERB
cblr-13858	1960	5	by	by	ADP
cblr-13858	1960	6	each	each	DET
cblr-13858	1960	7	crowdfunding	crowdfunding	NOUN
cblr-13858	1960	8	investor	investor	NOUN
cblr-13858	1960	9	and	and	CCONJ
cblr-13858	1960	10	the	the	DET
cblr-13858	1960	11	remote	remote	ADJ
cblr-13858	1960	12	,	,	PUNCT
cblr-13858	1960	13	impersonal	impersonal	ADJ
cblr-13858	1960	14	nature	nature	NOUN
cblr-13858	1960	15	of	of	ADP
cblr-13858	1960	16	crowdfunding	crowdfunding	NOUN
cblr-13858	1960	17	preclude	preclude	VERB
cblr-13858	1960	18	any	any	DET
cblr-13858	1960	19	meaningful	meaningful	ADJ
cblr-13858	1960	20	negotiations.5	negotiations.5	NOUN
cblr-13858	1960	21	64	64	NUM
cblr-13858	1960	22	.	.	PUNCT
cblr-13858	1961	1	gilson	gilson	PROPN
cblr-13858	1961	2	,	,	PUNCT
cblr-13858	1961	3	supra	supra	PROPN
cblr-13858	1961	4	note	note	PROPN
cblr-13858	1961	5	553	553	NUM
cblr-13858	1961	6	,	,	PUNCT
cblr-13858	1961	7	at	at	ADP
cblr-13858	1961	8	1077	1077	NUM
cblr-13858	1961	9	.	.	PUNCT
cblr-13858	1962	1	560	560	NUM
cblr-13858	1962	2	see	see	VERB
cblr-13858	1962	3	dent	dent	NOUN
cblr-13858	1962	4	,	,	PUNCT
cblr-13858	1962	5	supra	supra	PROPN
cblr-13858	1962	6	note	note	NOUN
cblr-13858	1962	7	525	525	NUM
cblr-13858	1962	8	,	,	PUNCT
cblr-13858	1962	9	at	at	ADP
cblr-13858	1962	10	1052	1052	NUM
cblr-13858	1962	11	-	-	SYM
cblr-13858	1962	12	57	57	NUM
cblr-13858	1962	13	.	.	PUNCT
cblr-13858	1962	14	...	...	PUNCT
cblr-13858	1963	1	see	see	VERB
cblr-13858	1963	2	dent	dent	NOUN
cblr-13858	1963	3	,	,	PUNCT
cblr-13858	1963	4	supra	supra	PROPN
cblr-13858	1963	5	note	note	NOUN
cblr-13858	1963	6	525	525	NUM
cblr-13858	1963	7	,	,	PUNCT
cblr-13858	1963	8	at	at	ADP
cblr-13858	1963	9	1035	1035	NUM
cblr-13858	1963	10	,	,	PUNCT
cblr-13858	1963	11	1044	1044	NUM
cblr-13858	1963	12	-	-	SYM
cblr-13858	1963	13	61	61	NUM
cblr-13858	1963	14	;	;	PUNCT
cblr-13858	1963	15	gilson	gilson	PROPN
cblr-13858	1963	16	,	,	PUNCT
cblr-13858	1963	17	supra	supra	PROPN
cblr-13858	1963	18	note	note	PROPN
cblr-13858	1963	19	553	553	NUM
cblr-13858	1963	20	,	,	PUNCT
cblr-13858	1963	21	at	at	ADP
cblr-13858	1963	22	1074	1074	NUM
cblr-13858	1963	23	;	;	PUNCT
cblr-13858	1963	24	ibrahim	ibrahim	PROPN
cblr-13858	1963	25	,	,	PUNCT
cblr-13858	1963	26	supra	supra	PROPN
cblr-13858	1963	27	note	note	NOUN
cblr-13858	1963	28	514	514	NUM
cblr-13858	1963	29	,	,	PUNCT
cblr-13858	1963	30	at	at	ADP
cblr-13858	1963	31	1407	1407	NUM
cblr-13858	1963	32	.	.	PUNCT
cblr-13858	1964	1	562	562	NUM
cblr-13858	1964	2	gilson	gilson	NOUN
cblr-13858	1964	3	,	,	PUNCT
cblr-13858	1964	4	supra	supra	PROPN
cblr-13858	1964	5	note	note	PROPN
cblr-13858	1964	6	553	553	NUM
cblr-13858	1964	7	,	,	PUNCT
cblr-13858	1964	8	at	at	ADP
cblr-13858	1964	9	1074	1074	NUM
cblr-13858	1964	10	.	.	PUNCT
cblr-13858	1964	11	'	'	PUNCT
cblr-13858	1965	1	dent	dent	NOUN
cblr-13858	1965	2	,	,	PUNCT
cblr-13858	1965	3	supra	supra	PROPN
cblr-13858	1965	4	note	note	NOUN
cblr-13858	1965	5	525	525	NUM
cblr-13858	1965	6	,	,	PUNCT
cblr-13858	1965	7	at	at	ADP
cblr-13858	1965	8	1065	1065	NUM
cblr-13858	1965	9	.	.	PUNCT
cblr-13858	1965	10	"	"	PUNCT
cblr-13858	1966	1	belleflamme	belleflamme	PROPN
cblr-13858	1966	2	et	et	PROPN
cblr-13858	1966	3	al	al	PROPN
cblr-13858	1966	4	.	.	PROPN
cblr-13858	1966	5	,	,	PUNCT
cblr-13858	1966	6	supra	supra	PROPN
cblr-13858	1966	7	note	note	PROPN
cblr-13858	1966	8	10	10	NUM
cblr-13858	1966	9	,	,	PUNCT
cblr-13858	1966	10	at	at	ADP
cblr-13858	1966	11	26	26	NUM
cblr-13858	1966	12	-	-	SYM
cblr-13858	1966	13	27	27	NUM
cblr-13858	1966	14	(	(	PUNCT
cblr-13858	1966	15	"	"	PUNCT
cblr-13858	1966	16	from	from	ADP
cblr-13858	1966	17	a	a	DET
cblr-13858	1966	18	more	more	ADV
cblr-13858	1966	19	general	general	ADJ
cblr-13858	1966	20	perspective	perspective	NOUN
cblr-13858	1966	21	,	,	PUNCT
cblr-13858	1966	22	crowdfunding	crowdfunding	NOUN
cblr-13858	1966	23	practices	practice	NOUN
cblr-13858	1966	24	raise	raise	VERB
cblr-13858	1966	25	questions	question	NOUN
cblr-13858	1966	26	with	with	ADP
cblr-13858	1966	27	respect	respect	NOUN
cblr-13858	1966	28	to	to	ADP
cblr-13858	1966	29	corporate	corporate	ADJ
cblr-13858	1966	30	governance	governance	NOUN
cblr-13858	1966	31	and	and	CCONJ
cblr-13858	1966	32	investor	investor	NOUN
cblr-13858	1966	33	protection	protection	NOUN
cblr-13858	1966	34	issues	issue	NOUN
cblr-13858	1966	35	if	if	SCONJ
cblr-13858	1966	36	most	most	ADJ
cblr-13858	1966	37	individuals	individual	NOUN
cblr-13858	1966	38	only	only	ADV
cblr-13858	1966	39	invest	invest	VERB
cblr-13858	1966	40	tiny	tiny	ADJ
cblr-13858	1966	41	amounts	amount	NOUN
cblr-13858	1966	42	.	.	PUNCT
cblr-13858	1967	1	crowdfunders	crowdfunder	NOUN
cblr-13858	1967	2	are	be	AUX
cblr-13858	1967	3	most	most	ADV
cblr-13858	1967	4	likely	likely	ADV
cblr-13858	1967	5	offered	offer	VERB
cblr-13858	1967	6	very	very	ADV
cblr-13858	1967	7	little	little	ADJ
cblr-13858	1967	8	investor	investor	NOUN
cblr-13858	1967	9	protection	protection	NOUN
cblr-13858	1967	10	.	.	PUNCT
cblr-13858	1968	1	this	this	PRON
cblr-13858	1968	2	may	may	AUX
cblr-13858	1968	3	lead	lead	VERB
cblr-13858	1968	4	to	to	ADP
cblr-13858	1968	5	corporate	corporate	ADJ
cblr-13858	1968	6	governance	governance	NOUN
cblr-13858	1968	7	issues	issue	NOUN
cblr-13858	1968	8	,	,	PUNCT
cblr-13858	1968	9	which	which	PRON
cblr-13858	1968	10	in	in	ADP
cblr-13858	1968	11	turn	turn	NOUN
cblr-13858	1968	12	may	may	AUX
cblr-13858	1968	13	turn	turn	VERB
cblr-13858	1968	14	into	into	ADP
cblr-13858	1968	15	reputation	reputation	NOUN
cblr-13858	1968	16	concerns	concern	NOUN
cblr-13858	1968	17	if	if	SCONJ
cblr-13858	1968	18	some	some	DET
cblr-13858	1968	19	cases	case	NOUN
cblr-13858	1968	20	of	of	ADP
cblr-13858	1968	21	fraud	fraud	NOUN
cblr-13858	1968	22	or	or	CCONJ
cblr-13858	1968	23	bad	bad	ADJ
cblr-13858	1968	24	governance	governance	NOUN
cblr-13858	1968	25	are	be	AUX
cblr-13858	1968	26	uncovered	uncover	VERB
cblr-13858	1968	27	.	.	PUNCT
cblr-13858	1969	1	crowdfunders	crowdfunder	NOUN
cblr-13858	1969	2	have	have	VERB
cblr-13858	1969	3	very	very	ADV
cblr-13858	1969	4	little	little	ADJ
cblr-13858	1969	5	scope	scope	NOUN
cblr-13858	1969	6	to	to	PART
cblr-13858	1969	7	107no	107no	VERB
cblr-13858	1969	8	.	.	PUNCT
cblr-13858	1970	1	i	i	PRON
cblr-13858	1970	2	:1	:1	PUNCT
cblr-13858	1970	3	]	]	X
cblr-13858	1970	4	cro0wdfunding	cro0wdfunde	VERB
cblr-13858	1970	5	and	and	CCONJ
cblr-13858	1970	6	securities	securities	PROPN
cblr-13858	1970	7	la	la	PROPN
cblr-13858	1970	8	ws	ws	PROPN
cblr-13858	1970	9	columbia	columbia	PROPN
cblr-13858	1970	10	business	business	PROPN
cblr-13858	1970	11	law	law	PROPN
cblr-13858	1970	12	review	review	NOUN
cblr-13858	1970	13	even	even	ADV
cblr-13858	1970	14	in	in	ADP
cblr-13858	1970	15	the	the	DET
cblr-13858	1970	16	absence	absence	NOUN
cblr-13858	1970	17	of	of	ADP
cblr-13858	1970	18	fraud	fraud	NOUN
cblr-13858	1970	19	or	or	CCONJ
cblr-13858	1970	20	self	self	NOUN
cblr-13858	1970	21	-	-	PUNCT
cblr-13858	1970	22	dealing	dealing	NOUN
cblr-13858	1970	23	,	,	PUNCT
cblr-13858	1970	24	many	many	ADJ
cblr-13858	1970	25	crowdfunded	crowdfunde	VERB
cblr-13858	1970	26	small	small	ADJ
cblr-13858	1970	27	.	.	PUNCT
cblr-13858	1971	1	businesses	business	NOUN
cblr-13858	1971	2	will	will	AUX
cblr-13858	1971	3	fail	fail	VERB
cblr-13858	1971	4	.	.	PUNCT
cblr-13858	1972	1	the	the	DET
cblr-13858	1972	2	small	small	ADJ
cblr-13858	1972	3	startups	startup	NOUN
cblr-13858	1972	4	to	to	PART
cblr-13858	1972	5	which	which	PRON
cblr-13858	1972	6	crowdfunding	crowdfunding	NOUN
cblr-13858	1972	7	appeals	appeal	NOUN
cblr-13858	1972	8	pose	pose	VERB
cblr-13858	1972	9	a	a	DET
cblr-13858	1972	10	disproportionate	disproportionate	ADJ
cblr-13858	1972	11	risk	risk	NOUN
cblr-13858	1972	12	of	of	ADP
cblr-13858	1972	13	business	business	NOUN
cblr-13858	1972	14	failure.565	failure.565	NOUN
cblr-13858	1972	15	approximately	approximately	ADV
cblr-13858	1972	16	80	80	NUM
cblr-13858	1972	17	%	%	NOUN
cblr-13858	1972	18	of	of	ADP
cblr-13858	1972	19	new	new	ADJ
cblr-13858	1972	20	businesses	business	NOUN
cblr-13858	1972	21	"	"	PUNCT
cblr-13858	1972	22	either	either	CCONJ
cblr-13858	1972	23	fail	fail	VERB
cblr-13858	1972	24	or	or	CCONJ
cblr-13858	1972	25	no	no	ADV
cblr-13858	1972	26	longer	long	ADV
cblr-13858	1972	27	exist	exist	VERB
cblr-13858	1972	28	within	within	ADP
cblr-13858	1972	29	five	five	NUM
cblr-13858	1972	30	to	to	PART
cblr-13858	1972	31	seven	seven	NUM
cblr-13858	1972	32	years	year	NOUN
cblr-13858	1972	33	of	of	ADP
cblr-13858	1972	34	formation	formation	NOUN
cblr-13858	1972	35	.	.	PUNCT
cblr-13858	1972	36	.	.	PUNCT
cblr-13858	1972	37	.	.	PUNCT
cblr-13858	1973	1	."6	."6	PROPN
cblr-13858	1973	2	"	"	PUNCT
cblr-13858	1973	3	even	even	ADV
cblr-13858	1973	4	the	the	DET
cblr-13858	1973	5	small	small	ADJ
cblr-13858	1973	6	businesses	business	NOUN
cblr-13858	1973	7	selected	select	VERB
cblr-13858	1973	8	for	for	ADP
cblr-13858	1973	9	investment	investment	NOUN
cblr-13858	1973	10	by	by	ADP
cblr-13858	1973	11	sophisticated	sophisticated	ADJ
cblr-13858	1973	12	venture	venture	NOUN
cblr-13858	1973	13	capital	capital	NOUN
cblr-13858	1973	14	funds	fund	NOUN
cblr-13858	1973	15	are	be	AUX
cblr-13858	1973	16	predominantly	predominantly	ADV
cblr-13858	1973	17	failures	failure	NOUN
cblr-13858	1973	18	.	.	PUNCT
cblr-13858	1974	1	one	one	NUM
cblr-13858	1974	2	-	-	PUNCT
cblr-13858	1974	3	third	third	NOUN
cblr-13858	1974	4	of	of	ADP
cblr-13858	1974	5	those	those	DET
cblr-13858	1974	6	companies	company	NOUN
cblr-13858	1974	7	end	end	VERB
cblr-13858	1974	8	up	up	ADP
cblr-13858	1974	9	in	in	ADP
cblr-13858	1974	10	bankruptcy	bankruptcy	NOUN
cblr-13858	1974	11	,	,	PUNCT
cblr-13858	1974	12	while	while	SCONJ
cblr-13858	1974	13	another	another	DET
cblr-13858	1974	14	third	third	ADJ
cblr-13858	1974	15	meet	meet	VERB
cblr-13858	1974	16	their	their	PRON
cblr-13858	1974	17	expenses	expense	NOUN
cblr-13858	1974	18	but	but	CCONJ
cblr-13858	1974	19	are	be	AUX
cblr-13858	1974	20	unable	unable	ADJ
cblr-13858	1974	21	to	to	PART
cblr-13858	1974	22	go	go	VERB
cblr-13858	1974	23	public	public	ADJ
cblr-13858	1974	24	or	or	CCONJ
cblr-13858	1974	25	pay	pay	VERB
cblr-13858	1974	26	significant	significant	ADJ
cblr-13858	1974	27	dividends.6	dividends.6	PROPN
cblr-13858	1974	28	investors	investor	NOUN
cblr-13858	1974	29	in	in	ADP
cblr-13858	1974	30	startups	startup	NOUN
cblr-13858	1974	31	also	also	ADV
cblr-13858	1974	32	face	face	VERB
cblr-13858	1974	33	liquidity	liquidity	NOUN
cblr-13858	1974	34	risk	risk	NOUN
cblr-13858	1974	35	,	,	PUNCT
cblr-13858	1974	36	because	because	SCONJ
cblr-13858	1974	37	there	there	PRON
cblr-13858	1974	38	is	be	VERB
cblr-13858	1974	39	no	no	DET
cblr-13858	1974	40	ready	ready	ADJ
cblr-13858	1974	41	public	public	ADJ
cblr-13858	1974	42	market	market	NOUN
cblr-13858	1974	43	in	in	ADP
cblr-13858	1974	44	which	which	PRON
cblr-13858	1974	45	to	to	PART
cblr-13858	1974	46	resell	resell	VERB
cblr-13858	1974	47	their	their	PRON
cblr-13858	1974	48	investments	investment	NOUN
cblr-13858	1974	49	.	.	PUNCT
cblr-13858	1974	50	'	'	PUNCT
cblr-13858	1975	1	crowdfunding	crowdfunding	NOUN
cblr-13858	1975	2	sites	site	NOUN
cblr-13858	1975	3	will	will	AUX
cblr-13858	1975	4	not	not	PART
cblr-13858	1975	5	provide	provide	VERB
cblr-13858	1975	6	such	such	DET
cblr-13858	1975	7	a	a	DET
cblr-13858	1975	8	trading	trading	NOUN
cblr-13858	1975	9	market	market	NOUN
cblr-13858	1975	10	because	because	SCONJ
cblr-13858	1975	11	,	,	PUNCT
cblr-13858	1975	12	if	if	SCONJ
cblr-13858	1975	13	they	they	PRON
cblr-13858	1975	14	did	do	VERB
cblr-13858	1975	15	,	,	PUNCT
cblr-13858	1975	16	they	they	PRON
cblr-13858	1975	17	would	would	AUX
cblr-13858	1975	18	risk	risk	VERB
cblr-13858	1975	19	having	have	VERB
cblr-13858	1975	20	to	to	PART
cblr-13858	1975	21	register	register	VERB
cblr-13858	1975	22	as	as	ADP
cblr-13858	1975	23	exchanges	exchange	NOUN
cblr-13858	1975	24	or	or	CCONJ
cblr-13858	1975	25	alternative	alternative	ADJ
cblr-13858	1975	26	trading	trading	NOUN
cblr-13858	1975	27	systems	system	NOUN
cblr-13858	1975	28	.	.	PUNCT
cblr-13858	1975	29	'	'	PUNCT
cblr-13858	1976	1	therefore	therefore	ADV
cblr-13858	1976	2	,	,	PUNCT
cblr-13858	1976	3	crowdfunding	crowdfunde	VERB
cblr-13858	1976	4	investors	investor	NOUN
cblr-13858	1976	5	may	may	AUX
cblr-13858	1976	6	have	have	VERB
cblr-13858	1976	7	to	to	PART
cblr-13858	1976	8	wait	wait	VERB
cblr-13858	1976	9	quite	quite	DET
cblr-13858	1976	10	some	some	DET
cblr-13858	1976	11	time	time	NOUN
cblr-13858	1976	12	to	to	PART
cblr-13858	1976	13	realize	realize	VERB
cblr-13858	1976	14	any	any	DET
cblr-13858	1976	15	return	return	NOUN
cblr-13858	1976	16	.	.	PUNCT
cblr-13858	1977	1	7	7	NUM
cblr-13858	1977	2	o	o	NOUN
cblr-13858	1977	3	some	some	DET
cblr-13858	1977	4	existing	exist	VERB
cblr-13858	1977	5	crowdfunding	crowdfunding	NOUN
cblr-13858	1977	6	sites	site	NOUN
cblr-13858	1977	7	require	require	VERB
cblr-13858	1977	8	repayment	repayment	NOUN
cblr-13858	1977	9	within	within	ADP
cblr-13858	1977	10	a	a	DET
cblr-13858	1977	11	few	few	ADJ
cblr-13858	1977	12	years	year	NOUN
cblr-13858	1977	13	,	,	PUNCT
cblr-13858	1977	14	which	which	PRON
cblr-13858	1977	15	limits	limit	VERB
cblr-13858	1977	16	the	the	DET
cblr-13858	1977	17	illiquidity	illiquidity	NOUN
cblr-13858	1977	18	problem	problem	NOUN
cblr-13858	1977	19	but	but	CCONJ
cblr-13858	1977	20	may	may	AUX
cblr-13858	1977	21	exacerbate	exacerbate	VERB
cblr-13858	1977	22	the	the	DET
cblr-13858	1977	23	risk	risk	NOUN
cblr-13858	1977	24	of	of	ADP
cblr-13858	1977	25	business	business	NOUN
cblr-13858	1977	26	failure	failure	NOUN
cblr-13858	1977	27	because	because	SCONJ
cblr-13858	1977	28	entrepreneurs	entrepreneur	NOUN
cblr-13858	1977	29	could	could	AUX
cblr-13858	1977	30	be	be	AUX
cblr-13858	1977	31	forced	force	VERB
cblr-13858	1977	32	to	to	PART
cblr-13858	1977	33	repay	repay	VERB
cblr-13858	1977	34	investments	investment	NOUN
cblr-13858	1977	35	before	before	SCONJ
cblr-13858	1977	36	their	their	PRON
cblr-13858	1977	37	business	business	NOUN
cblr-13858	1977	38	has	have	AUX
cblr-13858	1977	39	intervene	intervene	VERB
cblr-13858	1977	40	to	to	PART
cblr-13858	1977	41	protect	protect	VERB
cblr-13858	1977	42	their	their	PRON
cblr-13858	1977	43	interests	interest	NOUN
cblr-13858	1977	44	as	as	ADP
cblr-13858	1977	45	stakeholders	stakeholder	NOUN
cblr-13858	1977	46	.	.	PUNCT
cblr-13858	1978	1	moreover	moreover	ADV
cblr-13858	1978	2	,	,	PUNCT
cblr-13858	1978	3	the	the	DET
cblr-13858	1978	4	fact	fact	NOUN
cblr-13858	1978	5	that	that	SCONJ
cblr-13858	1978	6	their	their	PRON
cblr-13858	1978	7	investment	investment	NOUN
cblr-13858	1978	8	is	be	AUX
cblr-13858	1978	9	small	small	ADJ
cblr-13858	1978	10	is	be	AUX
cblr-13858	1978	11	likely	likely	ADJ
cblr-13858	1978	12	to	to	PART
cblr-13858	1978	13	create	create	VERB
cblr-13858	1978	14	a	a	DET
cblr-13858	1978	15	lack	lack	NOUN
cblr-13858	1978	16	of	of	ADP
cblr-13858	1978	17	incentive	incentive	NOUN
cblr-13858	1978	18	to	to	PART
cblr-13858	1978	19	intervene	intervene	VERB
cblr-13858	1978	20	.	.	PUNCT
cblr-13858	1978	21	"	"	PUNCT
cblr-13858	1978	22	)	)	PUNCT
cblr-13858	1978	23	.	.	PUNCT
cblr-13858	1979	1	"	"	PUNCT
cblr-13858	1979	2	5	5	NUM
cblr-13858	1979	3	see	see	VERB
cblr-13858	1979	4	fisch	fisch	PROPN
cblr-13858	1979	5	,	,	PUNCT
cblr-13858	1979	6	supra	supra	PROPN
cblr-13858	1979	7	note	note	NOUN
cblr-13858	1979	8	514	514	NUM
cblr-13858	1979	9	,	,	PUNCT
cblr-13858	1979	10	at	at	ADP
cblr-13858	1979	11	58	58	NUM
cblr-13858	1979	12	;	;	PUNCT
cblr-13858	1979	13	howard	howard	PROPN
cblr-13858	1979	14	m.	m.	PROPN
cblr-13858	1979	15	friedman	friedman	PROPN
cblr-13858	1979	16	,	,	PUNCT
cblr-13858	1979	17	on	on	ADP
cblr-13858	1979	18	being	be	AUX
cblr-13858	1979	19	rich	rich	ADJ
cblr-13858	1979	20	,	,	PUNCT
cblr-13858	1979	21	accredited	accredit	VERB
cblr-13858	1979	22	,	,	PUNCT
cblr-13858	1979	23	and	and	CCONJ
cblr-13858	1979	24	undiversified	undiversified	ADJ
cblr-13858	1979	25	:	:	PUNCT
cblr-13858	1979	26	the	the	DET
cblr-13858	1979	27	lacunae	lacunae	NOUN
cblr-13858	1979	28	in	in	ADP
cblr-13858	1979	29	contemporary	contemporary	ADJ
cblr-13858	1979	30	securities	security	NOUN
cblr-13858	1979	31	regulation	regulation	NOUN
cblr-13858	1979	32	,	,	PUNCT
cblr-13858	1979	33	47	47	NUM
cblr-13858	1979	34	okla	okla	NOUN
cblr-13858	1979	35	.	.	PUNCT
cblr-13858	1980	1	l.	l.	PROPN
cblr-13858	1980	2	rev	rev	PROPN
cblr-13858	1980	3	.	.	PROPN
cblr-13858	1980	4	291	291	NUM
cblr-13858	1980	5	,	,	PUNCT
cblr-13858	1980	6	306	306	NUM
cblr-13858	1980	7	(	(	PUNCT
cblr-13858	1980	8	1994	1994	NUM
cblr-13858	1980	9	)	)	PUNCT
cblr-13858	1980	10	;	;	PUNCT
cblr-13858	1980	11	sjostrom	sjostrom	ADJ
cblr-13858	1980	12	,	,	PUNCT
cblr-13858	1980	13	supra	supra	PROPN
cblr-13858	1980	14	note	note	NOUN
cblr-13858	1980	15	198	198	NUM
cblr-13858	1980	16	,	,	PUNCT
cblr-13858	1980	17	at	at	ADP
cblr-13858	1980	18	586	586	NUM
cblr-13858	1980	19	.	.	PUNCT
cblr-13858	1980	20	..	..	PUNCT
cblr-13858	1981	1	gao	gao	PROPN
cblr-13858	1981	2	report	report	PROPN
cblr-13858	1981	3	,	,	PUNCT
cblr-13858	1981	4	supra	supra	PROPN
cblr-13858	1981	5	note	note	VERB
cblr-13858	1981	6	200	200	NUM
cblr-13858	1981	7	,	,	PUNCT
cblr-13858	1981	8	at	at	ADP
cblr-13858	1981	9	19	19	NUM
cblr-13858	1981	10	.	.	NOUN
cblr-13858	1981	11	567	567	NUM
cblr-13858	1981	12	dent	dent	NOUN
cblr-13858	1981	13	,	,	PUNCT
cblr-13858	1981	14	supra	supra	PROPN
cblr-13858	1981	15	note	note	NOUN
cblr-13858	1981	16	525	525	NUM
cblr-13858	1981	17	,	,	PUNCT
cblr-13858	1981	18	at	at	ADP
cblr-13858	1981	19	1034	1034	NUM
cblr-13858	1981	20	.	.	PUNCT
cblr-13858	1982	1	see	see	VERB
cblr-13858	1982	2	also	also	ADV
cblr-13858	1982	3	gao	gao	PROPN
cblr-13858	1982	4	report	report	PROPN
cblr-13858	1982	5	,	,	PUNCT
cblr-13858	1982	6	supra	supra	PROPN
cblr-13858	1982	7	note	note	VERB
cblr-13858	1982	8	200	200	NUM
cblr-13858	1982	9	,	,	PUNCT
cblr-13858	1982	10	at	at	ADP
cblr-13858	1982	11	19	19	NUM
cblr-13858	1982	12	(	(	PUNCT
cblr-13858	1982	13	"	"	PUNCT
cblr-13858	1982	14	[	[	X
cblr-13858	1982	15	o]nly	o]nly	ADV
cblr-13858	1982	16	about	about	ADV
cblr-13858	1982	17	ten	ten	NUM
cblr-13858	1982	18	percent	percent	NOUN
cblr-13858	1982	19	of	of	ADP
cblr-13858	1982	20	venture	venture	NOUN
cblr-13858	1982	21	capital	capital	NOUN
cblr-13858	1982	22	investments	investment	NOUN
cblr-13858	1982	23	meet	meet	VERB
cblr-13858	1982	24	their	their	PRON
cblr-13858	1982	25	expected	expect	VERB
cblr-13858	1982	26	rate	rate	NOUN
cblr-13858	1982	27	of	of	ADP
cblr-13858	1982	28	return	return	NOUN
cblr-13858	1982	29	.	.	PUNCT
cblr-13858	1982	30	"	"	PUNCT
cblr-13858	1982	31	)	)	PUNCT
cblr-13858	1982	32	.	.	PUNCT
cblr-13858	1983	1	"	"	PUNCT
cblr-13858	1983	2	cable	cable	NOUN
cblr-13858	1983	3	,	,	PUNCT
cblr-13858	1983	4	supra	supra	PROPN
cblr-13858	1983	5	note	note	NOUN
cblr-13858	1983	6	254	254	NUM
cblr-13858	1983	7	,	,	PUNCT
cblr-13858	1983	8	at	at	ADP
cblr-13858	1983	9	122	122	NUM
cblr-13858	1983	10	;	;	PUNCT
cblr-13858	1983	11	fisch	fisch	PROPN
cblr-13858	1983	12	,	,	PUNCT
cblr-13858	1983	13	supra	supra	PROPN
cblr-13858	1983	14	note	note	NOUN
cblr-13858	1983	15	514	514	NUM
cblr-13858	1983	16	,	,	PUNCT
cblr-13858	1983	17	at	at	ADP
cblr-13858	1983	18	79	79	NUM
cblr-13858	1983	19	.	.	PUNCT
cblr-13858	1984	1	569	569	NUM
cblr-13858	1984	2	crowdfunding	crowdfunde	VERB
cblr-13858	1984	3	sites	site	NOUN
cblr-13858	1984	4	that	that	PRON
cblr-13858	1984	5	facilitate	facilitate	VERB
cblr-13858	1984	6	resales	resale	NOUN
cblr-13858	1984	7	would	would	AUX
cblr-13858	1984	8	bring	bring	VERB
cblr-13858	1984	9	together	together	ADV
cblr-13858	1984	10	multiple	multiple	ADJ
cblr-13858	1984	11	buyers	buyer	NOUN
cblr-13858	1984	12	and	and	CCONJ
cblr-13858	1984	13	sellers	seller	NOUN
cblr-13858	1984	14	,	,	PUNCT
cblr-13858	1984	15	increasing	increase	VERB
cblr-13858	1984	16	the	the	DET
cblr-13858	1984	17	likelihood	likelihood	NOUN
cblr-13858	1984	18	that	that	SCONJ
cblr-13858	1984	19	they	they	PRON
cblr-13858	1984	20	would	would	AUX
cblr-13858	1984	21	be	be	AUX
cblr-13858	1984	22	exchanges	exchange	NOUN
cblr-13858	1984	23	.	.	PUNCT
cblr-13858	1985	1	see	see	VERB
cblr-13858	1985	2	supra	supra	PROPN
cblr-13858	1985	3	part	part	NOUN
cblr-13858	1985	4	iv.a	iv.a	VERB
cblr-13858	1985	5	.	.	PUNCT
cblr-13858	1986	1	570	570	NUM
cblr-13858	1986	2	see	see	NOUN
cblr-13858	1986	3	cable	cable	NOUN
cblr-13858	1986	4	,	,	PUNCT
cblr-13858	1986	5	supra	supra	PROPN
cblr-13858	1986	6	note	note	NOUN
cblr-13858	1986	7	254	254	NUM
cblr-13858	1986	8	,	,	PUNCT
cblr-13858	1986	9	at	at	ADP
cblr-13858	1986	10	122	122	NUM
cblr-13858	1986	11	(	(	PUNCT
cblr-13858	1986	12	an	an	DET
cblr-13858	1986	13	investor	investor	NOUN
cblr-13858	1986	14	in	in	ADP
cblr-13858	1986	15	a	a	DET
cblr-13858	1986	16	startup	startup	NOUN
cblr-13858	1986	17	"	"	PUNCT
cblr-13858	1986	18	can	can	AUX
cblr-13858	1986	19	expect	expect	VERB
cblr-13858	1986	20	to	to	PART
cblr-13858	1986	21	wait	wait	VERB
cblr-13858	1986	22	more	more	ADJ
cblr-13858	1986	23	than	than	ADP
cblr-13858	1986	24	five	five	NUM
cblr-13858	1986	25	years	year	NOUN
cblr-13858	1986	26	for	for	ADP
cblr-13858	1986	27	any	any	DET
cblr-13858	1986	28	return	return	NOUN
cblr-13858	1986	29	on	on	ADP
cblr-13858	1986	30	the	the	DET
cblr-13858	1986	31	investment	investment	NOUN
cblr-13858	1986	32	.	.	PUNCT
cblr-13858	1986	33	"	"	PUNCT
cblr-13858	1986	34	)	)	PUNCT
cblr-13858	1986	35	.	.	PUNCT
cblr-13858	1987	1	571	571	NUM
cblr-13858	1987	2	see	see	VERB
cblr-13858	1987	3	,	,	PUNCT
cblr-13858	1987	4	e.g.	e.g.	ADV
cblr-13858	1987	5	,	,	PUNCT
cblr-13858	1987	6	prosper	prosper	VERB
cblr-13858	1987	7	registration	registration	NOUN
cblr-13858	1987	8	statement	statement	NOUN
cblr-13858	1987	9	,	,	PUNCT
cblr-13858	1987	10	supra	supra	PROPN
cblr-13858	1987	11	note	note	PROPN
cblr-13858	1987	12	81	81	NUM
cblr-13858	1987	13	,	,	PUNCT
cblr-13858	1987	14	at	at	ADP
cblr-13858	1987	15	4	4	NUM
cblr-13858	1987	16	(	(	PUNCT
cblr-13858	1987	17	three	three	NUM
cblr-13858	1987	18	-	-	PUNCT
cblr-13858	1987	19	year	year	NOUN
cblr-13858	1987	20	notes	note	NOUN
cblr-13858	1987	21	)	)	PUNCT
cblr-13858	1987	22	;	;	PUNCT
cblr-13858	1987	23	lending	lend	VERB
cblr-13858	1987	24	club	club	NOUN
cblr-13858	1987	25	registration	registration	NOUN
cblr-13858	1987	26	statement	statement	NOUN
cblr-13858	1987	27	,	,	PUNCT
cblr-13858	1987	28	supra	supra	PROPN
cblr-13858	1987	29	note	note	PROPN
cblr-13858	1987	30	81	81	NUM
cblr-13858	1987	31	,	,	PUNCT
cblr-13858	1987	32	at	at	ADP
cblr-13858	1987	33	3	3	NUM
cblr-13858	1987	34	(	(	PUNCT
cblr-13858	1987	35	three	three	NUM
cblr-13858	1987	36	-	-	PUNCT
cblr-13858	1987	37	year	year	NOUN
cblr-13858	1987	38	notes	note	NOUN
cblr-13858	1987	39	)	)	PUNCT
cblr-13858	1987	40	;	;	PUNCT
cblr-13858	1987	41	lang	lang	PROPN
cblr-13858	1987	42	,	,	PUNCT
cblr-13858	1987	43	supra	supra	PROPN
cblr-13858	1987	44	note	note	NOUN
cblr-13858	1987	45	106	106	NUM
cblr-13858	1987	46	(	(	PUNCT
cblr-13858	1987	47	maximum	maximum	NOUN
cblr-13858	1987	48	of	of	ADP
cblr-13858	1987	49	five	five	NUM
cblr-13858	1987	50	years	year	NOUN
cblr-13858	1987	51	)	)	PUNCT
cblr-13858	1987	52	.	.	PUNCT
cblr-13858	1988	1	108	108	NUM
cblr-13858	1989	1	[	[	X
cblr-13858	1989	2	vol	vol	NOUN
cblr-13858	1989	3	.	.	PUNCT
cblr-13858	1989	4	2012	2012	NUM
cblr-13858	1989	5	developed	develop	VERB
cblr-13858	1989	6	sufficiently	sufficiently	ADV
cblr-13858	1989	7	to	to	PART
cblr-13858	1989	8	do	do	VERB
cblr-13858	1989	9	so	so	ADV
cblr-13858	1989	10	.	.	PUNCT
cblr-13858	1990	1	and	and	CCONJ
cblr-13858	1990	2	,	,	PUNCT
cblr-13858	1990	3	if	if	SCONJ
cblr-13858	1990	4	startups	startup	NOUN
cblr-13858	1990	5	take	take	VERB
cblr-13858	1990	6	time	time	NOUN
cblr-13858	1990	7	to	to	PART
cblr-13858	1990	8	become	become	VERB
cblr-13858	1990	9	profitable	profitable	ADJ
cblr-13858	1990	10	,	,	PUNCT
cblr-13858	1990	11	such	such	ADJ
cblr-13858	1990	12	short	short	ADJ
cblr-13858	1990	13	repayment	repayment	NOUN
cblr-13858	1990	14	periods	period	NOUN
cblr-13858	1990	15	may	may	AUX
cblr-13858	1990	16	preclude	preclude	VERB
cblr-13858	1990	17	meaningful	meaningful	ADJ
cblr-13858	1990	18	profit	profit	NOUN
cblr-13858	1990	19	-	-	PUNCT
cblr-13858	1990	20	sharing	sharing	NOUN
cblr-13858	1990	21	.	.	PUNCT
cblr-13858	1991	1	2	2	X
cblr-13858	1991	2	.	.	X
cblr-13858	1991	3	the	the	DET
cblr-13858	1991	4	financial	financial	ADJ
cblr-13858	1991	5	sophistication	sophistication	NOUN
cblr-13858	1991	6	of	of	ADP
cblr-13858	1991	7	the	the	DET
cblr-13858	1991	8	crowd	crowd	NOUN
cblr-13858	1991	9	the	the	DET
cblr-13858	1991	10	risks	risk	NOUN
cblr-13858	1991	11	associated	associate	VERB
cblr-13858	1991	12	with	with	ADP
cblr-13858	1991	13	crowdfunding	crowdfunding	NOUN
cblr-13858	1991	14	ventures	venture	NOUN
cblr-13858	1991	15	would	would	AUX
cblr-13858	1991	16	be	be	AUX
cblr-13858	1991	17	a	a	DET
cblr-13858	1991	18	less	less	ADV
cblr-13858	1991	19	significant	significant	ADJ
cblr-13858	1991	20	concern	concern	NOUN
cblr-13858	1991	21	if	if	SCONJ
cblr-13858	1991	22	crowdfunding	crowdfunde	VERB
cblr-13858	1991	23	investors	investor	NOUN
cblr-13858	1991	24	were	be	AUX
cblr-13858	1991	25	sophisticated	sophisticate	VERB
cblr-13858	1991	26	enough	enough	ADV
cblr-13858	1991	27	to	to	PART
cblr-13858	1991	28	protect	protect	VERB
cblr-13858	1991	29	themselves	themselves	PRON
cblr-13858	1991	30	.	.	PUNCT
cblr-13858	1992	1	but	but	CCONJ
cblr-13858	1992	2	crowdfunding	crowdfunding	NOUN
cblr-13858	1992	3	is	be	AUX
cblr-13858	1992	4	open	open	ADJ
cblr-13858	1992	5	to	to	ADP
cblr-13858	1992	6	the	the	DET
cblr-13858	1992	7	general	general	ADJ
cblr-13858	1992	8	public	public	NOUN
cblr-13858	1992	9	,	,	PUNCT
cblr-13858	1992	10	and	and	CCONJ
cblr-13858	1992	11	many	many	ADJ
cblr-13858	1992	12	members	member	NOUN
cblr-13858	1992	13	of	of	ADP
cblr-13858	1992	14	"	"	PUNCT
cblr-13858	1992	15	the	the	DET
cblr-13858	1992	16	crowd	crowd	NOUN
cblr-13858	1992	17	"	"	PUNCT
cblr-13858	1992	18	are	be	AUX
cblr-13858	1992	19	not	not	PART
cblr-13858	1992	20	that	that	ADV
cblr-13858	1992	21	financially	financially	ADV
cblr-13858	1992	22	wellinformed	wellinforme	VERB
cblr-13858	1992	23	.	.	PUNCT
cblr-13858	1992	24	'	'	PUNCT
cblr-13858	1993	1	in	in	ADP
cblr-13858	1993	2	one	one	NUM
cblr-13858	1993	3	study	study	NOUN
cblr-13858	1993	4	,	,	PUNCT
cblr-13858	1993	5	34	34	NUM
cblr-13858	1993	6	%	%	NOUN
cblr-13858	1993	7	of	of	ADP
cblr-13858	1993	8	american	american	ADJ
cblr-13858	1993	9	adults	adult	NOUN
cblr-13858	1993	10	gave	give	VERB
cblr-13858	1993	11	themselves	themselves	PRON
cblr-13858	1993	12	a	a	DET
cblr-13858	1993	13	"	"	PUNCT
cblr-13858	1993	14	c	c	NOUN
cblr-13858	1993	15	"	"	PUNCT
cblr-13858	1993	16	grade	grade	NOUN
cblr-13858	1993	17	or	or	CCONJ
cblr-13858	1993	18	below	below	ADP
cblr-13858	1993	19	on	on	ADP
cblr-13858	1993	20	their	their	PRON
cblr-13858	1993	21	knowledge	knowledge	NOUN
cblr-13858	1993	22	of	of	ADP
cblr-13858	1993	23	personal	personal	ADJ
cblr-13858	1993	24	finance	finance	NOUN
cblr-13858	1993	25	,	,	PUNCT
cblr-13858	1993	26	and	and	CCONJ
cblr-13858	1993	27	only	only	ADV
cblr-13858	1993	28	22	22	NUM
cblr-13858	1993	29	%	%	NOUN
cblr-13858	1993	30	awarded	award	VERB
cblr-13858	1993	31	themselves	themselves	PRON
cblr-13858	1993	32	an	an	DET
cblr-13858	1993	33	.72	.72	NUM
cblr-13858	1993	34	annamaria	annamaria	PROPN
cblr-13858	1993	35	lusardi	lusardi	PROPN
cblr-13858	1993	36	&	&	CCONJ
cblr-13858	1993	37	olivia	olivia	PROPN
cblr-13858	1993	38	mitchell	mitchell	PROPN
cblr-13858	1993	39	,	,	PUNCT
cblr-13858	1993	40	financial	financial	ADJ
cblr-13858	1993	41	literacy	literacy	NOUN
cblr-13858	1993	42	and	and	CCONJ
cblr-13858	1993	43	retirement	retirement	NOUN
cblr-13858	1993	44	planning	planning	NOUN
cblr-13858	1993	45	:	:	PUNCT
cblr-13858	1993	46	new	new	ADJ
cblr-13858	1993	47	evidence	evidence	NOUN
cblr-13858	1993	48	from	from	ADP
cblr-13858	1993	49	the	the	DET
cblr-13858	1993	50	rand	rand	NOUN
cblr-13858	1993	51	american	american	PROPN
cblr-13858	1993	52	life	life	PROPN
cblr-13858	1993	53	panel	panel	NOUN
cblr-13858	1993	54	4	4	NUM
cblr-13858	1993	55	(	(	PUNCT
cblr-13858	1993	56	michigan	michigan	PROPN
cblr-13858	1993	57	retirement	retirement	PROPN
cblr-13858	1993	58	research	research	PROPN
cblr-13858	1993	59	center	center	NOUN
cblr-13858	1993	60	,	,	PUNCT
cblr-13858	1993	61	working	work	VERB
cblr-13858	1993	62	paper	paper	NOUN
cblr-13858	1993	63	2007	2007	NUM
cblr-13858	1993	64	-	-	SYM
cblr-13858	1993	65	157	157	NUM
cblr-13858	1993	66	,	,	PUNCT
cblr-13858	1993	67	2007	2007	NUM
cblr-13858	1993	68	)	)	PUNCT
cblr-13858	1993	69	,	,	PUNCT
cblr-13858	1993	70	available	available	ADJ
cblr-13858	1993	71	at	at	ADP
cblr-13858	1993	72	http://ssrn.com/abstract=1095869	http://ssrn.com/abstract=1095869	NOUN
cblr-13858	1993	73	(	(	PUNCT
cblr-13858	1993	74	"	"	PUNCT
cblr-13858	1993	75	financial	financial	ADJ
cblr-13858	1993	76	literacy	literacy	NOUN
cblr-13858	1993	77	surveys	survey	NOUN
cblr-13858	1993	78	in	in	ADP
cblr-13858	1993	79	many	many	ADJ
cblr-13858	1993	80	developed	develop	VERB
cblr-13858	1993	81	nations	nation	NOUN
cblr-13858	1993	82	show	show	VERB
cblr-13858	1993	83	that	that	SCONJ
cblr-13858	1993	84	consumers	consumer	NOUN
cblr-13858	1993	85	are	be	AUX
cblr-13858	1993	86	poorly	poorly	ADV
cblr-13858	1993	87	informed	inform	VERB
cblr-13858	1993	88	about	about	ADP
cblr-13858	1993	89	basic	basic	ADJ
cblr-13858	1993	90	economic	economic	ADJ
cblr-13858	1993	91	and	and	CCONJ
cblr-13858	1993	92	financial	financial	ADJ
cblr-13858	1993	93	concepts	concept	NOUN
cblr-13858	1993	94	.	.	PUNCT
cblr-13858	1993	95	"	"	PUNCT
cblr-13858	1993	96	)	)	PUNCT
cblr-13858	1993	97	.	.	PUNCT
cblr-13858	1994	1	see	see	VERB
cblr-13858	1994	2	also	also	ADV
cblr-13858	1994	3	b.	b.	PROPN
cblr-13858	1994	4	douglas	douglas	PROPN
cblr-13858	1994	5	bernheim	bernheim	PROPN
cblr-13858	1994	6	,	,	PUNCT
cblr-13858	1994	7	financial	financial	ADJ
cblr-13858	1994	8	illiteracy	illiteracy	NOUN
cblr-13858	1994	9	,	,	PUNCT
cblr-13858	1994	10	education	education	NOUN
cblr-13858	1994	11	,	,	PUNCT
cblr-13858	1994	12	and	and	CCONJ
cblr-13858	1994	13	retirement	retirement	NOUN
cblr-13858	1994	14	savings	saving	NOUN
cblr-13858	1994	15	,	,	PUNCT
cblr-13858	1994	16	in	in	ADP
cblr-13858	1994	17	living	live	VERB
cblr-13858	1994	18	with	with	ADP
cblr-13858	1994	19	defined	define	VERB
cblr-13858	1994	20	contribution	contribution	NOUN
cblr-13858	1994	21	pensions	pension	NOUN
cblr-13858	1994	22	:	:	PUNCT
cblr-13858	1994	23	remaking	remake	VERB
cblr-13858	1994	24	responsibility	responsibility	NOUN
cblr-13858	1994	25	for	for	ADP
cblr-13858	1994	26	retirement	retirement	NOUN
cblr-13858	1994	27	38	38	NUM
cblr-13858	1994	28	,	,	PUNCT
cblr-13858	1994	29	42	42	NUM
cblr-13858	1994	30	(	(	PUNCT
cblr-13858	1994	31	olivia	olivia	PROPN
cblr-13858	1994	32	s.	s.	PROPN
cblr-13858	1994	33	mitchell	mitchell	PROPN
cblr-13858	1994	34	&	&	CCONJ
cblr-13858	1994	35	sylvester	sylvester	PROPN
cblr-13858	1994	36	j.	j.	PROPN
cblr-13858	1994	37	schieber	schieber	PROPN
cblr-13858	1994	38	,	,	PUNCT
cblr-13858	1994	39	eds	eds	PROPN
cblr-13858	1994	40	.	.	PROPN
cblr-13858	1994	41	,	,	PUNCT
cblr-13858	1994	42	1998	1998	NUM
cblr-13858	1994	43	)	)	PUNCT
cblr-13858	1994	44	(	(	PUNCT
cblr-13858	1994	45	"	"	PUNCT
cblr-13858	1994	46	collectively	collectively	ADV
cblr-13858	1994	47	,	,	PUNCT
cblr-13858	1994	48	existing	exist	VERB
cblr-13858	1994	49	studies	study	NOUN
cblr-13858	1994	50	paint	paint	VERB
cblr-13858	1994	51	a	a	DET
cblr-13858	1994	52	rather	rather	ADV
cblr-13858	1994	53	bleak	bleak	ADJ
cblr-13858	1994	54	picture	picture	NOUN
cblr-13858	1994	55	of	of	ADP
cblr-13858	1994	56	americans	americans	PROPN
cblr-13858	1994	57	'	'	PART
cblr-13858	1994	58	economic	economic	ADJ
cblr-13858	1994	59	and	and	CCONJ
cblr-13858	1994	60	financial	financial	ADJ
cblr-13858	1994	61	literacy	literacy	NOUN
cblr-13858	1994	62	.	.	PUNCT
cblr-13858	1994	63	"	"	PUNCT
cblr-13858	1994	64	)	)	PUNCT
cblr-13858	1994	65	.	.	PUNCT
cblr-13858	1995	1	for	for	ADP
cblr-13858	1995	2	specific	specific	ADJ
cblr-13858	1995	3	survey	survey	NOUN
cblr-13858	1995	4	results	result	NOUN
cblr-13858	1995	5	,	,	PUNCT
cblr-13858	1995	6	see	see	VERB
cblr-13858	1995	7	applied	applied	ADJ
cblr-13858	1995	8	research	research	NOUN
cblr-13858	1995	9	&	&	CCONJ
cblr-13858	1995	10	consulting	consulting	PROPN
cblr-13858	1995	11	llc	llc	PROPN
cblr-13858	1995	12	,	,	PUNCT
cblr-13858	1995	13	financial	financial	ADJ
cblr-13858	1995	14	capability	capability	NOUN
cblr-13858	1995	15	in	in	ADP
cblr-13858	1995	16	the	the	DET
cblr-13858	1995	17	united	united	PROPN
cblr-13858	1995	18	states	states	PROPN
cblr-13858	1995	19	:	:	PUNCT
cblr-13858	1995	20	injtial	injtial	ADJ
cblr-13858	1995	21	report	report	NOUN
cblr-13858	1995	22	of	of	ADP
cblr-13858	1995	23	research	research	NOUN
cblr-13858	1995	24	findings	finding	NOUN
cblr-13858	1995	25	from	from	ADP
cblr-13858	1995	26	the	the	DET
cblr-13858	1995	27	2009	2009	NUM
cblr-13858	1995	28	national	national	ADJ
cblr-13858	1995	29	survey	survey	NOUN
cblr-13858	1995	30	(	(	PUNCT
cblr-13858	1995	31	dec	dec	PROPN
cblr-13858	1995	32	.	.	PROPN
cblr-13858	1995	33	1	1	NUM
cblr-13858	1995	34	,	,	PUNCT
cblr-13858	1995	35	2009	2009	NUM
cblr-13858	1995	36	)	)	PUNCT
cblr-13858	1995	37	,	,	PUNCT
cblr-13858	1995	38	available	available	ADJ
cblr-13858	1995	39	at	at	ADP
cblr-13858	1995	40	http://www.finrafoundation.org/web/groups/foundation/@foundation/docum	http://www.finrafoundation.org/web/groups/foundation/@foundation/docum	PROPN
cblr-13858	1995	41	ents	ent	NOUN
cblr-13858	1995	42	/	/	SYM
cblr-13858	1995	43	foundation	foundation	NOUN
cblr-13858	1995	44	/	/	SYM
cblr-13858	1995	45	p120536.pdf	p120536.pdf	NOUN
cblr-13858	1995	46	;	;	PUNCT
cblr-13858	1995	47	nat'l	nat'l	PROPN
cblr-13858	1995	48	council	council	PROPN
cblr-13858	1995	49	on	on	ADP
cblr-13858	1995	50	econ	econ	PROPN
cblr-13858	1995	51	.	.	PUNCT
cblr-13858	1996	1	educ	educ	PROPN
cblr-13858	1996	2	.	.	PUNCT
cblr-13858	1997	1	,	,	PUNCT
cblr-13858	1997	2	what	what	PRON
cblr-13858	1997	3	american	american	ADJ
cblr-13858	1997	4	teens	teen	NOUN
cblr-13858	1997	5	and	and	CCONJ
cblr-13858	1997	6	adults	adult	NOUN
cblr-13858	1997	7	know	know	VERB
cblr-13858	1997	8	about	about	ADP
cblr-13858	1997	9	economics	economic	NOUN
cblr-13858	1997	10	(	(	PUNCT
cblr-13858	1997	11	apr	apr	PROPN
cblr-13858	1997	12	.	.	PROPN
cblr-13858	1997	13	26	26	NUM
cblr-13858	1997	14	,	,	PUNCT
cblr-13858	1997	15	2005	2005	NUM
cblr-13858	1997	16	)	)	PUNCT
cblr-13858	1997	17	,	,	PUNCT
cblr-13858	1997	18	available	available	ADJ
cblr-13858	1997	19	at	at	ADP
cblr-13858	1997	20	http://www.councilforeconed.org/cel/whatamericansknowabo	http://www.councilforeconed.org/cel/whatamericansknowabo	PROPN
cblr-13858	1997	21	uteconomics_042605-3.pdf	uteconomics_042605-3.pdf	PROPN
cblr-13858	1997	22	;	;	PUNCT
cblr-13858	1997	23	nat'l	nat'l	PRON
cblr-13858	1997	24	found	find	VERB
cblr-13858	1997	25	.	.	PUNCT
cblr-13858	1998	1	for	for	ADP
cblr-13858	1998	2	credit	credit	NOUN
cblr-13858	1998	3	counseling	counseling	NOUN
cblr-13858	1998	4	,	,	PUNCT
cblr-13858	1998	5	the	the	DET
cblr-13858	1998	6	2010	2010	NUM
cblr-13858	1998	7	consumer	consumer	NOUN
cblr-13858	1998	8	financial	financial	ADJ
cblr-13858	1998	9	literacy	literacy	NOUN
cblr-13858	1998	10	survey	survey	NOUN
cblr-13858	1998	11	:	:	PUNCT
cblr-13858	1998	12	final	final	ADJ
cblr-13858	1998	13	report	report	NOUN
cblr-13858	1998	14	(	(	PUNCT
cblr-13858	1998	15	apr	apr	NOUN
cblr-13858	1998	16	.	.	PROPN
cblr-13858	1998	17	2010	2010	NUM
cblr-13858	1998	18	)	)	PUNCT
cblr-13858	1998	19	,	,	PUNCT
cblr-13858	1998	20	available	available	ADJ
cblr-13858	1998	21	at	at	ADP
cblr-13858	1998	22	www.nfcc.org/newsroomlfinancialliteracy/files2010/201ocon	www.nfcc.org/newsroomlfinancialliteracy/files2010/201ocon	PROPN
cblr-13858	1998	23	sumerfinancialliteracysurveyfinalreport.pdf	sumerfinancialliteracysurveyfinalreport.pdf	PROPN
cblr-13858	1998	24	;	;	PUNCT
cblr-13858	1998	25	bernheim	bernheim	NOUN
cblr-13858	1998	26	,	,	PUNCT
cblr-13858	1998	27	supra	supra	PROPN
cblr-13858	1998	28	note	note	PROPN
cblr-13858	1998	29	572	572	NUM
cblr-13858	1998	30	;	;	PUNCT
cblr-13858	1998	31	marianne	marianne	PROPN
cblr-13858	1998	32	a.	a.	PROPN
cblr-13858	1998	33	hilgert	hilgert	PROPN
cblr-13858	1998	34	,	,	PUNCT
cblr-13858	1998	35	jeanne	jeanne	PROPN
cblr-13858	1998	36	m.	m.	PROPN
cblr-13858	1998	37	hogarth	hogarth	PROPN
cblr-13858	1998	38	&	&	CCONJ
cblr-13858	1998	39	sondra	sondra	PROPN
cblr-13858	1998	40	g.	g.	PROPN
cblr-13858	1998	41	beverly	beverly	PROPN
cblr-13858	1998	42	,	,	PUNCT
cblr-13858	1998	43	household	household	NOUN
cblr-13858	1998	44	financial	financial	ADJ
cblr-13858	1998	45	management	management	NOUN
cblr-13858	1998	46	:	:	PUNCT
cblr-13858	1998	47	the	the	DET
cblr-13858	1998	48	connection	connection	NOUN
cblr-13858	1998	49	between	between	ADP
cblr-13858	1998	50	knowledge	knowledge	NOUN
cblr-13858	1998	51	and	and	CCONJ
cblr-13858	1998	52	behavior	behavior	NOUN
cblr-13858	1998	53	,	,	PUNCT
cblr-13858	1998	54	federal	federal	PROPN
cblr-13858	1998	55	reserve	reserve	PROPN
cblr-13858	1998	56	bulletin	bulletin	PROPN
cblr-13858	1998	57	309	309	NUM
cblr-13858	1998	58	(	(	PUNCT
cblr-13858	1998	59	july	july	PROPN
cblr-13858	1998	60	2003	2003	NUM
cblr-13858	1998	61	)	)	PUNCT
cblr-13858	1998	62	;	;	PUNCT
cblr-13858	1998	63	annamaria	annamaria	PROPN
cblr-13858	1998	64	lusardi	lusardi	PROPN
cblr-13858	1998	65	,	,	PUNCT
cblr-13858	1998	66	financial	financial	ADJ
cblr-13858	1998	67	literacy	literacy	NOUN
cblr-13858	1998	68	:	:	PUNCT
cblr-13858	1998	69	an	an	DET
cblr-13858	1998	70	essential	essential	ADJ
cblr-13858	1998	71	tool	tool	NOUN
cblr-13858	1998	72	for	for	ADP
cblr-13858	1998	73	informed	informed	ADJ
cblr-13858	1998	74	consumer	consumer	NOUN
cblr-13858	1998	75	choice	choice	NOUN
cblr-13858	1998	76	?	?	PUNCT
cblr-13858	1998	77	,	,	PUNCT
cblr-13858	1998	78	26	26	NUM
cblr-13858	1998	79	-	-	SYM
cblr-13858	1998	80	30	30	NUM
cblr-13858	1998	81	(	(	PUNCT
cblr-13858	1998	82	paolo	paolo	PROPN
cblr-13858	1998	83	baffi	baffi	PROPN
cblr-13858	1998	84	centre	centre	PROPN
cblr-13858	1998	85	research	research	NOUN
cblr-13858	1998	86	paper	paper	NOUN
cblr-13858	1998	87	no	no	NOUN
cblr-13858	1998	88	.	.	PUNCT
cblr-13858	1998	89	2009	2009	NUM
cblr-13858	1998	90	-	-	SYM
cblr-13858	1998	91	35	35	NUM
cblr-13858	1998	92	,	,	PUNCT
cblr-13858	1998	93	june	june	PROPN
cblr-13858	1998	94	2008	2008	NUM
cblr-13858	1998	95	)	)	PUNCT
cblr-13858	1998	96	,	,	PUNCT
cblr-13858	1998	97	available	available	ADJ
cblr-13858	1998	98	at	at	ADP
cblr-13858	1998	99	http://	http://	PROPN
cblr-13858	1998	100	ssm.com/abstract=1336389	ssm.com/abstract=1336389	PROPN
cblr-13858	1998	101	;	;	PUNCT
cblr-13858	1998	102	lusardi	lusardi	PROPN
cblr-13858	1998	103	&	&	CCONJ
cblr-13858	1998	104	mitchell	mitchell	PROPN
cblr-13858	1998	105	,	,	PUNCT
cblr-13858	1998	106	supra	supra	PROPN
cblr-13858	1998	107	note	note	PROPN
cblr-13858	1998	108	572	572	NUM
cblr-13858	1998	109	,	,	PUNCT
cblr-13858	1998	110	at	at	ADP
cblr-13858	1998	111	26	26	NUM
cblr-13858	1998	112	-	-	SYM
cblr-13858	1998	113	30	30	NUM
cblr-13858	1998	114	.	.	PUNCT
cblr-13858	1999	1	cro	cro	NOUN
cblr-13858	1999	2	wdfunding	wdfunding	NOUN
cblr-13858	1999	3	and	and	CCONJ
cblr-13858	1999	4	securities	security	NOUN
cblr-13858	1999	5	la	la	PROPN
cblr-13858	1999	6	ws	ws	PROPN
cblr-13858	1999	7	109no	109no	PROPN
cblr-13858	1999	8	.	.	PUNCT
cblr-13858	2000	1	i1:1]1	i1:1]1	PROPN
cblr-13858	2000	2	columbia	columbia	PROPN
cblr-13858	2000	3	business	business	PROPN
cblr-13858	2000	4	law	law	PROPN
cblr-13858	2000	5	review	review	NOUN
cblr-13858	2000	6	"	"	PUNCT
cblr-13858	2000	7	a.	a.	NOUN
cblr-13858	2000	8	"573	"573	NOUN
cblr-13858	2000	9	self	self	NOUN
cblr-13858	2000	10	-	-	PUNCT
cblr-13858	2000	11	assessment	assessment	NOUN
cblr-13858	2000	12	is	be	AUX
cblr-13858	2000	13	probably	probably	ADV
cblr-13858	2000	14	not	not	PART
cblr-13858	2000	15	the	the	DET
cblr-13858	2000	16	best	good	ADJ
cblr-13858	2000	17	way	way	NOUN
cblr-13858	2000	18	to	to	PART
cblr-13858	2000	19	measure	measure	VERB
cblr-13858	2000	20	financial	financial	ADJ
cblr-13858	2000	21	knowledge	knowledge	NOUN
cblr-13858	2000	22	,	,	PUNCT
cblr-13858	2000	23	but	but	CCONJ
cblr-13858	2000	24	people	people	NOUN
cblr-13858	2000	25	's	's	PART
cblr-13858	2000	26	self	self	NOUN
cblr-13858	2000	27	-	-	PUNCT
cblr-13858	2000	28	assessments	assessment	NOUN
cblr-13858	2000	29	are	be	AUX
cblr-13858	2000	30	strongly	strongly	ADV
cblr-13858	2000	31	correlated	correlate	VERB
cblr-13858	2000	32	with	with	ADP
cblr-13858	2000	33	their	their	PRON
cblr-13858	2000	34	actual	actual	ADJ
cblr-13858	2000	35	financial	financial	ADJ
cblr-13858	2000	36	knowledge	knowledge	NOUN
cblr-13858	2000	37	.	.	PUNCT
cblr-13858	2001	1	"	"	PUNCT
cblr-13858	2001	2	'	'	PUNCT
cblr-13858	2001	3	many	many	ADJ
cblr-13858	2001	4	americans	american	NOUN
cblr-13858	2001	5	are	be	AUX
cblr-13858	2001	6	not	not	PART
cblr-13858	2001	7	financially	financially	ADV
cblr-13858	2001	8	literate	literate	ADJ
cblr-13858	2001	9	.	.	PUNCT
cblr-13858	2002	1	in	in	ADP
cblr-13858	2002	2	a	a	DET
cblr-13858	2002	3	survey	survey	NOUN
cblr-13858	2002	4	of	of	ADP
cblr-13858	2002	5	3,512	3,512	NUM
cblr-13858	2002	6	adults	adult	NOUN
cblr-13858	2002	7	and	and	CCONJ
cblr-13858	2002	8	2,242	2,242	NUM
cblr-13858	2002	9	high	high	ADJ
cblr-13858	2002	10	school	school	NOUN
cblr-13858	2002	11	students	student	NOUN
cblr-13858	2002	12	in	in	ADP
cblr-13858	2002	13	2005	2005	NUM
cblr-13858	2002	14	,	,	PUNCT
cblr-13858	2002	15	only	only	ADV
cblr-13858	2002	16	17	17	NUM
cblr-13858	2002	17	%	%	NOUN
cblr-13858	2002	18	of	of	ADP
cblr-13858	2002	19	the	the	DET
cblr-13858	2002	20	adults	adult	NOUN
cblr-13858	2002	21	and	and	CCONJ
cblr-13858	2002	22	3	3	NUM
cblr-13858	2002	23	%	%	NOUN
cblr-13858	2002	24	of	of	ADP
cblr-13858	2002	25	the	the	DET
cblr-13858	2002	26	students	student	NOUN
cblr-13858	2002	27	scored	score	VERB
cblr-13858	2002	28	an	an	DET
cblr-13858	2002	29	"	"	PUNCT
cblr-13858	2002	30	a	a	PRON
cblr-13858	2002	31	"	"	PUNCT
cblr-13858	2002	32	on	on	ADP
cblr-13858	2002	33	a	a	DET
cblr-13858	2002	34	twenty	twenty	NUM
cblr-13858	2002	35	-	-	PUNCT
cblr-13858	2002	36	four	four	NUM
cblr-13858	2002	37	-	-	PUNCT
cblr-13858	2002	38	question	question	NOUN
cblr-13858	2002	39	financial	financial	ADJ
cblr-13858	2002	40	literacy	literacy	NOUN
cblr-13858	2002	41	quiz	quiz	NOUN
cblr-13858	2002	42	.	.	PUNCT
cblr-13858	2003	1	5	5	NUM
cblr-13858	2003	2	6	6	NUM
cblr-13858	2003	3	sixty	sixty	NUM
cblr-13858	2003	4	-	-	PUNCT
cblr-13858	2003	5	six	six	NUM
cblr-13858	2003	6	percent	percent	NOUN
cblr-13858	2003	7	of	of	ADP
cblr-13858	2003	8	the	the	DET
cblr-13858	2003	9	adults	adult	NOUN
cblr-13858	2003	10	and	and	CCONJ
cblr-13858	2003	11	91	91	NUM
cblr-13858	2003	12	%	%	NOUN
cblr-13858	2003	13	of	of	ADP
cblr-13858	2003	14	the	the	DET
cblr-13858	2003	15	students	student	NOUN
cblr-13858	2003	16	had	have	VERB
cblr-13858	2003	17	grades	grade	NOUN
cblr-13858	2003	18	of	of	ADP
cblr-13858	2003	19	"	"	PUNCT
cblr-13858	2003	20	c	c	NOUN
cblr-13858	2003	21	"	"	PUNCT
cblr-13858	2003	22	or	or	CCONJ
cblr-13858	2003	23	worse.576	worse.576	NUM
cblr-13858	2003	24	in	in	ADP
cblr-13858	2003	25	2009	2009	NUM
cblr-13858	2003	26	,	,	PUNCT
cblr-13858	2003	27	respondents	respondent	NOUN
cblr-13858	2003	28	in	in	ADP
cblr-13858	2003	29	a	a	DET
cblr-13858	2003	30	survey	survey	NOUN
cblr-13858	2003	31	of	of	ADP
cblr-13858	2003	32	american	american	ADJ
cblr-13858	2003	33	adults	adult	NOUN
cblr-13858	2003	34	answered	answer	VERB
cblr-13858	2003	35	an	an	DET
cblr-13858	2003	36	average	average	NOUN
cblr-13858	2003	37	of	of	ADP
cblr-13858	2003	38	only	only	ADV
cblr-13858	2003	39	2.72	2.72	NUM
cblr-13858	2003	40	out	out	ADP
cblr-13858	2003	41	of	of	ADP
cblr-13858	2003	42	5	5	NUM
cblr-13858	2003	43	financial	financial	ADJ
cblr-13858	2003	44	literacy	literacy	NOUN
cblr-13858	2003	45	questions	question	NOUN
cblr-13858	2003	46	correctly.5	correctly.5	PROPN
cblr-13858	2003	47	7	7	NUM
cblr-13858	2003	48	forty	forty	NUM
cblr-13858	2003	49	-	-	PUNCT
cblr-13858	2003	50	eight	eight	NUM
cblr-13858	2003	51	percent	percent	NOUN
cblr-13858	2003	52	of	of	ADP
cblr-13858	2003	53	those	those	DET
cblr-13858	2003	54	respondents	respondent	NOUN
cblr-13858	2003	55	did	do	AUX
cblr-13858	2003	56	not	not	PART
cblr-13858	2003	57	understand	understand	VERB
cblr-13858	2003	58	that	that	SCONJ
cblr-13858	2003	59	investing	invest	VERB
cblr-13858	2003	60	in	in	ADP
cblr-13858	2003	61	a	a	DET
cblr-13858	2003	62	mutual	mutual	ADJ
cblr-13858	2003	63	fund	fund	NOUN
cblr-13858	2003	64	generally	generally	ADV
cblr-13858	2003	65	provides	provide	VERB
cblr-13858	2003	66	a	a	DET
cblr-13858	2003	67	safer	safe	ADJ
cblr-13858	2003	68	return	return	NOUN
cblr-13858	2003	69	than	than	ADP
cblr-13858	2003	70	investing	invest	VERB
cblr-13858	2003	71	in	in	ADP
cblr-13858	2003	72	a	a	DET
cblr-13858	2003	73	single	single	ADJ
cblr-13858	2003	74	stock.5	stock.5	NOUN
cblr-13858	2003	75	7	7	NUM
cblr-13858	2003	76	'	'	CCONJ
cblr-13858	2003	77	thirty	thirty	NUM
cblr-13858	2003	78	-	-	PUNCT
cblr-13858	2003	79	five	five	NUM
cblr-13858	2003	80	percent	percent	NOUN
cblr-13858	2003	81	missed	miss	VERB
cblr-13858	2003	82	a	a	DET
cblr-13858	2003	83	very	very	ADV
cblr-13858	2003	84	simple	simple	ADJ
cblr-13858	2003	85	question	question	NOUN
cblr-13858	2003	86	about	about	ADP
cblr-13858	2003	87	calculating	calculate	VERB
cblr-13858	2003	88	compound	compound	NOUN
cblr-13858	2003	89	interest	interest	NOUN
cblr-13858	2003	90	.	.	PUNCT
cblr-13858	2004	1	79	79	NUM
cblr-13858	2004	2	seventynine	seventynine	NOUN
cblr-13858	2004	3	percent	percent	NOUN
cblr-13858	2004	4	did	do	AUX
cblr-13858	2004	5	not	not	PART
cblr-13858	2004	6	understand	understand	VERB
cblr-13858	2004	7	the	the	DET
cblr-13858	2004	8	relationship	relationship	NOUN
cblr-13858	2004	9	between	between	ADP
cblr-13858	2004	10	57	57	NUM
cblr-13858	2004	11	nat'l	nat'l	NOUN
cblr-13858	2004	12	found	find	VERB
cblr-13858	2004	13	.	.	PUNCT
cblr-13858	2005	1	for	for	ADP
cblr-13858	2005	2	credit	credit	NOUN
cblr-13858	2005	3	counseling	counseling	NOUN
cblr-13858	2005	4	,	,	PUNCT
cblr-13858	2005	5	supra	supra	PROPN
cblr-13858	2005	6	note	note	PROPN
cblr-13858	2005	7	572	572	NUM
cblr-13858	2005	8	,	,	PUNCT
cblr-13858	2005	9	at	at	ADP
cblr-13858	2005	10	9	9	NUM
cblr-13858	2005	11	.	.	PUNCT
cblr-13858	2006	1	but	but	CCONJ
cblr-13858	2006	2	see	see	VERB
cblr-13858	2006	3	applied	apply	VERB
cblr-13858	2006	4	research	research	NOUN
cblr-13858	2006	5	&	&	CCONJ
cblr-13858	2006	6	consulting	consulting	PROPN
cblr-13858	2006	7	llc	llc	PROPN
cblr-13858	2006	8	,	,	PUNCT
cblr-13858	2006	9	supra	supra	PROPN
cblr-13858	2006	10	note	note	PROPN
cblr-13858	2006	11	572	572	NUM
cblr-13858	2006	12	,	,	PUNCT
cblr-13858	2006	13	at	at	ADP
cblr-13858	2006	14	37	37	NUM
cblr-13858	2006	15	(	(	PUNCT
cblr-13858	2006	16	70	70	NUM
cblr-13858	2006	17	%	%	NOUN
cblr-13858	2006	18	of	of	ADP
cblr-13858	2006	19	american	american	ADJ
cblr-13858	2006	20	adults	adult	NOUN
cblr-13858	2006	21	rated	rate	VERB
cblr-13858	2006	22	their	their	PRON
cblr-13858	2006	23	overall	overall	ADJ
cblr-13858	2006	24	financial	financial	ADJ
cblr-13858	2006	25	knowledge	knowledge	NOUN
cblr-13858	2006	26	in	in	ADP
cblr-13858	2006	27	the	the	DET
cblr-13858	2006	28	top	top	ADJ
cblr-13858	2006	29	three	three	NUM
cblr-13858	2006	30	levels	level	NOUN
cblr-13858	2006	31	on	on	ADP
cblr-13858	2006	32	a	a	DET
cblr-13858	2006	33	seven	seven	NUM
cblr-13858	2006	34	-	-	PUNCT
cblr-13858	2006	35	point	point	NOUN
cblr-13858	2006	36	scale	scale	NOUN
cblr-13858	2006	37	.	.	PUNCT
cblr-13858	2007	1	only	only	ADV
cblr-13858	2007	2	13	13	NUM
cblr-13858	2007	3	%	%	NOUN
cblr-13858	2007	4	put	put	VERB
cblr-13858	2007	5	themselves	themselves	PRON
cblr-13858	2007	6	in	in	ADP
cblr-13858	2007	7	the	the	DET
cblr-13858	2007	8	bottom	bottom	ADJ
cblr-13858	2007	9	three	three	NUM
cblr-13858	2007	10	levels	level	NOUN
cblr-13858	2007	11	.	.	PUNCT
cblr-13858	2007	12	)	)	PUNCT
cblr-13858	2008	1	57	57	NUM
cblr-13858	2008	2	bernheim	bernheim	NOUN
cblr-13858	2008	3	,	,	PUNCT
cblr-13858	2008	4	supra	supra	PROPN
cblr-13858	2008	5	note	note	PROPN
cblr-13858	2008	6	572	572	NUM
cblr-13858	2008	7	,	,	PUNCT
cblr-13858	2008	8	at	at	ADP
cblr-13858	2008	9	48	48	NUM
cblr-13858	2008	10	.	.	PUNCT
cblr-13858	2009	1	57	57	NUM
cblr-13858	2009	2	nat'l	nat'l	PROPN
cblr-13858	2009	3	council	council	PROPN
cblr-13858	2009	4	on	on	ADP
cblr-13858	2009	5	econ	econ	PROPN
cblr-13858	2009	6	.	.	PUNCT
cblr-13858	2010	1	educ	educ	PROPN
cblr-13858	2010	2	.	.	PUNCT
cblr-13858	2010	3	,	,	PUNCT
cblr-13858	2010	4	supra	supra	PROPN
cblr-13858	2010	5	note	note	PROPN
cblr-13858	2010	6	572	572	NUM
cblr-13858	2010	7	,	,	PUNCT
cblr-13858	2010	8	at	at	ADP
cblr-13858	2010	9	44	44	NUM
cblr-13858	2010	10	.	.	PUNCT
cblr-13858	2011	1	576	576	NUM
cblr-13858	2012	1	i	i	PRON
cblr-13858	2012	2	d.	d.	VERB
cblr-13858	2012	3	there	there	PRON
cblr-13858	2012	4	was	be	VERB
cblr-13858	2012	5	a	a	DET
cblr-13858	2012	6	positive	positive	ADJ
cblr-13858	2012	7	correlation	correlation	NOUN
cblr-13858	2012	8	between	between	ADP
cblr-13858	2012	9	students	student	NOUN
cblr-13858	2012	10	'	'	PART
cblr-13858	2012	11	grade	grade	NOUN
cblr-13858	2012	12	level	level	NOUN
cblr-13858	2012	13	and	and	CCONJ
cblr-13858	2012	14	their	their	PRON
cblr-13858	2012	15	scores	score	NOUN
cblr-13858	2012	16	,	,	PUNCT
cblr-13858	2012	17	indicating	indicate	VERB
cblr-13858	2012	18	that	that	SCONJ
cblr-13858	2012	19	the	the	DET
cblr-13858	2012	20	students	student	NOUN
cblr-13858	2012	21	were	be	AUX
cblr-13858	2012	22	learning	learn	VERB
cblr-13858	2012	23	over	over	ADP
cblr-13858	2012	24	time	time	NOUN
cblr-13858	2012	25	.	.	PUNCT
cblr-13858	2013	1	i	i	PRON
cblr-13858	2013	2	d.	d.	PROPN
cblr-13858	2013	3	at	at	ADP
cblr-13858	2013	4	48	48	NUM
cblr-13858	2013	5	.	.	PUNCT
cblr-13858	2014	1	5	5	NUM
cblr-13858	2014	2	"	"	PUNCT
cblr-13858	2014	3	applied	apply	VERB
cblr-13858	2014	4	research	research	NOUN
cblr-13858	2014	5	&	&	CCONJ
cblr-13858	2014	6	consulting	consulting	PROPN
cblr-13858	2014	7	llc	llc	PROPN
cblr-13858	2014	8	,	,	PUNCT
cblr-13858	2014	9	supra	supra	PROPN
cblr-13858	2014	10	note	note	PROPN
cblr-13858	2014	11	572	572	NUM
cblr-13858	2014	12	,	,	PUNCT
cblr-13858	2014	13	at	at	ADP
cblr-13858	2014	14	41	41	NUM
cblr-13858	2014	15	.	.	PUNCT
cblr-13858	2014	16	171	171	NUM
cblr-13858	2015	1	i	i	PRON
cblr-13858	2015	2	d.	d.	PROPN
cblr-13858	2015	3	at	at	ADP
cblr-13858	2015	4	40	40	NUM
cblr-13858	2015	5	.	.	PUNCT
cblr-13858	2016	1	see	see	VERB
cblr-13858	2016	2	also	also	ADV
cblr-13858	2016	3	nat'l	nat'l	PROPN
cblr-13858	2016	4	council	council	PROPN
cblr-13858	2016	5	on	on	ADP
cblr-13858	2016	6	econ	econ	PROPN
cblr-13858	2016	7	.	.	PUNCT
cblr-13858	2017	1	educ	educ	PROPN
cblr-13858	2017	2	.	.	PUNCT
cblr-13858	2017	3	,	,	PUNCT
cblr-13858	2017	4	supra	supra	PROPN
cblr-13858	2017	5	note	note	PROPN
cblr-13858	2017	6	572	572	NUM
cblr-13858	2017	7	,	,	PUNCT
cblr-13858	2017	8	at	at	ADP
cblr-13858	2017	9	42	42	NUM
cblr-13858	2017	10	(	(	PUNCT
cblr-13858	2017	11	only	only	ADV
cblr-13858	2017	12	44	44	NUM
cblr-13858	2017	13	%	%	NOUN
cblr-13858	2017	14	of	of	ADP
cblr-13858	2017	15	adults	adult	NOUN
cblr-13858	2017	16	and	and	CCONJ
cblr-13858	2017	17	15	15	NUM
cblr-13858	2017	18	%	%	NOUN
cblr-13858	2017	19	of	of	ADP
cblr-13858	2017	20	high	high	ADJ
cblr-13858	2017	21	school	school	NOUN
cblr-13858	2017	22	students	student	NOUN
cblr-13858	2017	23	understood	understand	VERB
cblr-13858	2017	24	that	that	SCONJ
cblr-13858	2017	25	diversification	diversification	NOUN
cblr-13858	2017	26	was	be	AUX
cblr-13858	2017	27	a	a	DET
cblr-13858	2017	28	reason	reason	NOUN
cblr-13858	2017	29	for	for	ADP
cblr-13858	2017	30	preferring	prefer	VERB
cblr-13858	2017	31	mutual	mutual	ADJ
cblr-13858	2017	32	funds	fund	NOUN
cblr-13858	2017	33	to	to	ADP
cblr-13858	2017	34	individual	individual	ADJ
cblr-13858	2017	35	stocks	stock	NOUN
cblr-13858	2017	36	)	)	PUNCT
cblr-13858	2017	37	.	.	PUNCT
cblr-13858	2018	1	..	..	PUNCT
cblr-13858	2018	2	applied	apply	VERB
cblr-13858	2018	3	research	research	NOUN
cblr-13858	2018	4	&	&	CCONJ
cblr-13858	2018	5	consulting	consulting	PROPN
cblr-13858	2018	6	llc	llc	PROPN
cblr-13858	2018	7	,	,	PUNCT
cblr-13858	2018	8	supra	supra	PROPN
cblr-13858	2018	9	note	note	PROPN
cblr-13858	2018	10	572	572	NUM
cblr-13858	2018	11	,	,	PUNCT
cblr-13858	2018	12	at	at	ADP
cblr-13858	2018	13	39	39	NUM
cblr-13858	2018	14	.	.	PUNCT
cblr-13858	2019	1	see	see	VERB
cblr-13858	2019	2	also	also	ADV
cblr-13858	2019	3	bernheim	bernheim	NOUN
cblr-13858	2019	4	,	,	PUNCT
cblr-13858	2019	5	supra	supra	PROPN
cblr-13858	2019	6	note	note	PROPN
cblr-13858	2019	7	572	572	NUM
cblr-13858	2019	8	,	,	PUNCT
cblr-13858	2019	9	at	at	ADP
cblr-13858	2019	10	44	44	NUM
cblr-13858	2019	11	(	(	PUNCT
cblr-13858	2019	12	in	in	ADP
cblr-13858	2019	13	a	a	DET
cblr-13858	2019	14	1993	1993	NUM
cblr-13858	2019	15	survey	survey	NOUN
cblr-13858	2019	16	of	of	ADP
cblr-13858	2019	17	american	american	ADJ
cblr-13858	2019	18	adults	adult	NOUN
cblr-13858	2019	19	aged	age	VERB
cblr-13858	2019	20	twenty	twenty	NUM
cblr-13858	2019	21	to	to	PART
cblr-13858	2019	22	forty	forty	NUM
cblr-13858	2019	23	-	-	PUNCT
cblr-13858	2019	24	seven	seven	NUM
cblr-13858	2019	25	,	,	PUNCT
cblr-13858	2019	26	nearly	nearly	ADV
cblr-13858	2019	27	one	one	NUM
cblr-13858	2019	28	-	-	PUNCT
cblr-13858	2019	29	third	third	NOUN
cblr-13858	2019	30	indicated	indicate	VERB
cblr-13858	2019	31	that	that	SCONJ
cblr-13858	2019	32	$	$	SYM
cblr-13858	2019	33	1,000	1,000	NUM
cblr-13858	2019	34	left	leave	VERB
cblr-13858	2019	35	in	in	ADP
cblr-13858	2019	36	the	the	DET
cblr-13858	2019	37	bank	bank	NOUN
cblr-13858	2019	38	for	for	ADP
cblr-13858	2019	39	thirty	thirty	NUM
cblr-13858	2019	40	years	year	NOUN
cblr-13858	2019	41	with	with	ADP
cblr-13858	2019	42	compound	compound	NOUN
cblr-13858	2019	43	interest	interest	NOUN
cblr-13858	2019	44	of	of	ADP
cblr-13858	2019	45	8	8	NUM
cblr-13858	2019	46	%	%	NOUN
cblr-13858	2019	47	would	would	AUX
cblr-13858	2019	48	earn	earn	VERB
cblr-13858	2019	49	less	less	ADJ
cblr-13858	2019	50	than	than	ADP
cblr-13858	2019	51	$	$	SYM
cblr-13858	2019	52	5,000	5,000	NUM
cblr-13858	2019	53	;	;	PUNCT
cblr-13858	2019	54	the	the	DET
cblr-13858	2019	55	correct	correct	ADJ
cblr-13858	2019	56	answer	answer	NOUN
cblr-13858	2019	57	is	be	AUX
cblr-13858	2019	58	more	more	ADJ
cblr-13858	2019	59	than	than	ADP
cblr-13858	2019	60	$	$	SYM
cblr-13858	2019	61	10,000	10,000	NUM
cblr-13858	2019	62	.	.	PUNCT
cblr-13858	2019	63	)	)	PUNCT
cblr-13858	2019	64	;	;	PUNCT
cblr-13858	2019	65	lusardi	lusardi	PROPN
cblr-13858	2019	66	&	&	CCONJ
cblr-13858	2019	67	mitchell	mitchell	PROPN
cblr-13858	2019	68	,	,	PUNCT
cblr-13858	2019	69	supra	supra	PROPN
cblr-13858	2019	70	note	note	PROPN
cblr-13858	2019	71	572	572	NUM
cblr-13858	2019	72	,	,	PUNCT
cblr-13858	2019	73	at	at	ADP
cblr-13858	2019	74	21	21	NUM
cblr-13858	2019	75	(	(	PUNCT
cblr-13858	2019	76	in	in	ADP
cblr-13858	2019	77	a	a	DET
cblr-13858	2019	78	survey	survey	NOUN
cblr-13858	2019	79	of	of	ADP
cblr-13858	2019	80	american	american	ADJ
cblr-13858	2019	81	adults	adult	NOUN
cblr-13858	2019	82	,	,	PUNCT
cblr-13858	2019	83	only	only	ADV
cblr-13858	2019	84	75	75	NUM
cblr-13858	2019	85	%	%	NOUN
cblr-13858	2019	86	correctly	correctly	ADV
cblr-13858	2019	87	answered	answer	VERB
cblr-13858	2019	88	a	a	DET
cblr-13858	2019	89	multiple	multiple	ADJ
cblr-13858	2019	90	-	-	PUNCT
cblr-13858	2019	91	choice	choice	NOUN
cblr-13858	2019	92	question	question	NOUN
cblr-13858	2019	93	about	about	ADP
cblr-13858	2019	94	compound	compound	NOUN
cblr-13858	2019	95	interest	interest	NOUN
cblr-13858	2019	96	.	.	PUNCT
cblr-13858	2019	97	)	)	PUNCT
cblr-13858	2019	98	.	.	PUNCT
cblr-13858	2020	1	110	110	NUM
cblr-13858	2021	1	[	[	X
cblr-13858	2021	2	vol	vol	NOUN
cblr-13858	2021	3	.	.	PUNCT
cblr-13858	2021	4	2012	2012	NUM
cblr-13858	2021	5	interest	interest	NOUN
cblr-13858	2021	6	rates	rate	NOUN
cblr-13858	2021	7	and	and	CCONJ
cblr-13858	2021	8	bond	bond	NOUN
cblr-13858	2021	9	prices	price	NOUN
cblr-13858	2021	10	.	.	PUNCT
cblr-13858	2021	11	""o	""o	PUNCT
cblr-13858	2022	1	another	another	DET
cblr-13858	2022	2	survey	survey	NOUN
cblr-13858	2022	3	asked	ask	VERB
cblr-13858	2022	4	americans	americans	PROPN
cblr-13858	2022	5	aged	age	VERB
cblr-13858	2022	6	fifty	fifty	NUM
cblr-13858	2022	7	or	or	CCONJ
cblr-13858	2022	8	older	old	ADJ
cblr-13858	2022	9	three	three	NUM
cblr-13858	2022	10	questions	question	NOUN
cblr-13858	2022	11	about	about	ADP
cblr-13858	2022	12	compound	compound	NOUN
cblr-13858	2022	13	interest	interest	NOUN
cblr-13858	2022	14	,	,	PUNCT
cblr-13858	2022	15	the	the	DET
cblr-13858	2022	16	relationship	relationship	NOUN
cblr-13858	2022	17	between	between	ADP
cblr-13858	2022	18	investment	investment	NOUN
cblr-13858	2022	19	return	return	NOUN
cblr-13858	2022	20	and	and	CCONJ
cblr-13858	2022	21	inflation	inflation	NOUN
cblr-13858	2022	22	,	,	PUNCT
cblr-13858	2022	23	and	and	CCONJ
cblr-13858	2022	24	the	the	DET
cblr-13858	2022	25	value	value	NOUN
cblr-13858	2022	26	of	of	ADP
cblr-13858	2022	27	diversification.68	diversification.68	PROPN
cblr-13858	2022	28	1	1	NUM
cblr-13858	2022	29	only	only	ADV
cblr-13858	2022	30	one	one	NUM
cblr-13858	2022	31	-	-	PUNCT
cblr-13858	2022	32	third	third	NOUN
cblr-13858	2022	33	of	of	ADP
cblr-13858	2022	34	the	the	DET
cblr-13858	2022	35	respondents	respondent	NOUN
cblr-13858	2022	36	were	be	AUX
cblr-13858	2022	37	able	able	ADJ
cblr-13858	2022	38	to	to	PART
cblr-13858	2022	39	answer	answer	VERB
cblr-13858	2022	40	all	all	DET
cblr-13858	2022	41	three	three	NUM
cblr-13858	2022	42	questions	question	NOUN
cblr-13858	2022	43	correctly.582	correctly.582	VERB
cblr-13858	2022	44	this	this	DET
cblr-13858	2022	45	financial	financial	ADJ
cblr-13858	2022	46	ignorance	ignorance	NOUN
cblr-13858	2022	47	extends	extend	VERB
cblr-13858	2022	48	beyond	beyond	ADP
cblr-13858	2022	49	general	general	ADJ
cblr-13858	2022	50	principles	principle	NOUN
cblr-13858	2022	51	of	of	ADP
cblr-13858	2022	52	finance	finance	NOUN
cblr-13858	2022	53	to	to	ADP
cblr-13858	2022	54	more	more	ADV
cblr-13858	2022	55	specific	specific	ADJ
cblr-13858	2022	56	questions	question	NOUN
cblr-13858	2022	57	about	about	ADP
cblr-13858	2022	58	economic	economic	ADJ
cblr-13858	2022	59	facts	fact	NOUN
cblr-13858	2022	60	.	.	PUNCT
cblr-13858	2023	1	in	in	ADP
cblr-13858	2023	2	a	a	DET
cblr-13858	2023	3	2001	2001	NUM
cblr-13858	2023	4	survey	survey	NOUN
cblr-13858	2023	5	,	,	PUNCT
cblr-13858	2023	6	only	only	ADV
cblr-13858	2023	7	52	52	NUM
cblr-13858	2023	8	%	%	NOUN
cblr-13858	2023	9	of	of	ADP
cblr-13858	2023	10	the	the	DET
cblr-13858	2023	11	respondents	respondent	NOUN
cblr-13858	2023	12	knew	know	VERB
cblr-13858	2023	13	that	that	SCONJ
cblr-13858	2023	14	mutual	mutual	ADJ
cblr-13858	2023	15	funds	fund	NOUN
cblr-13858	2023	16	do	do	AUX
cblr-13858	2023	17	not	not	PART
cblr-13858	2023	18	pay	pay	VERB
cblr-13858	2023	19	a	a	DET
cblr-13858	2023	20	guaranteed	guarantee	VERB
cblr-13858	2023	21	rate	rate	NOUN
cblr-13858	2023	22	of	of	ADP
cblr-13858	2023	23	return	return	NOUN
cblr-13858	2023	24	;	;	PUNCT
cblr-13858	2023	25	only	only	ADV
cblr-13858	2023	26	33	33	NUM
cblr-13858	2023	27	%	%	NOUN
cblr-13858	2023	28	knew	know	VERB
cblr-13858	2023	29	that	that	SCONJ
cblr-13858	2023	30	not	not	PART
cblr-13858	2023	31	all	all	DET
cblr-13858	2023	32	investment	investment	NOUN
cblr-13858	2023	33	products	product	NOUN
cblr-13858	2023	34	purchased	purchase	VERB
cblr-13858	2023	35	at	at	ADP
cblr-13858	2023	36	a	a	DET
cblr-13858	2023	37	bank	bank	NOUN
cblr-13858	2023	38	are	be	AUX
cblr-13858	2023	39	federally	federally	ADV
cblr-13858	2023	40	insured	insure	VERB
cblr-13858	2023	41	;	;	PUNCT
cblr-13858	2023	42	and	and	CCONJ
cblr-13858	2023	43	only	only	ADV
cblr-13858	2023	44	56	56	NUM
cblr-13858	2023	45	%	%	NOUN
cblr-13858	2023	46	knew	know	VERB
cblr-13858	2023	47	that	that	SCONJ
cblr-13858	2023	48	,	,	PUNCT
cblr-13858	2023	49	over	over	ADP
cblr-13858	2023	50	the	the	DET
cblr-13858	2023	51	long	long	ADJ
cblr-13858	2023	52	term	term	NOUN
cblr-13858	2023	53	,	,	PUNCT
cblr-13858	2023	54	stocks	stock	NOUN
cblr-13858	2023	55	offer	offer	VERB
cblr-13858	2023	56	the	the	DET
cblr-13858	2023	57	highest	high	ADJ
cblr-13858	2023	58	rate	rate	NOUN
cblr-13858	2023	59	of	of	ADP
cblr-13858	2023	60	return	return	NOUN
cblr-13858	2023	61	.	.	PUNCT
cblr-13858	2023	62	'	'	PUNCT
cblr-13858	2024	1	still	still	ADV
cblr-13858	2024	2	,	,	PUNCT
cblr-13858	2024	3	the	the	DET
cblr-13858	2024	4	numbers	number	NOUN
cblr-13858	2024	5	are	be	AUX
cblr-13858	2024	6	not	not	PART
cblr-13858	2024	7	totally	totally	ADV
cblr-13858	2024	8	disheartening	dishearten	VERB
cblr-13858	2024	9	.	.	PUNCT
cblr-13858	2025	1	a	a	DET
cblr-13858	2025	2	large	large	ADJ
cblr-13858	2025	3	percentage	percentage	NOUN
cblr-13858	2025	4	of	of	ADP
cblr-13858	2025	5	american	american	ADJ
cblr-13858	2025	6	adults	adult	NOUN
cblr-13858	2025	7	do	do	AUX
cblr-13858	2025	8	get	get	VERB
cblr-13858	2025	9	many	many	ADJ
cblr-13858	2025	10	basic	basic	ADJ
cblr-13858	2025	11	financial	financial	ADJ
cblr-13858	2025	12	literacy	literacy	NOUN
cblr-13858	2025	13	questions	question	NOUN
cblr-13858	2025	14	right.584	right.584	VERB
cblr-13858	2025	15	in	in	ADP
cblr-13858	2025	16	one	one	NUM
cblr-13858	2025	17	recent	recent	ADJ
cblr-13858	2025	18	survey	survey	NOUN
cblr-13858	2025	19	,	,	PUNCT
cblr-13858	2025	20	two	two	NUM
cblr-13858	2025	21	-	-	PUNCT
cblr-13858	2025	22	thirds	third	NOUN
cblr-13858	2025	23	of	of	ADP
cblr-13858	2025	24	the	the	DET
cblr-13858	2025	25	respondents	respondent	NOUN
cblr-13858	2025	26	correctly	correctly	ADV
cblr-13858	2025	27	answered	answer	VERB
cblr-13858	2025	28	most	most	ADV
cblr-13858	2025	29	basic	basic	ADJ
cblr-13858	2025	30	questions	question	NOUN
cblr-13858	2025	31	about	about	ADP
cblr-13858	2025	32	the	the	DET
cblr-13858	2025	33	function	function	NOUN
cblr-13858	2025	34	of	of	ADP
cblr-13858	2025	35	stock	stock	NOUN
cblr-13858	2025	36	markets	market	NOUN
cblr-13858	2025	37	,	,	PUNCT
cblr-13858	2025	38	mutual	mutual	ADJ
cblr-13858	2025	39	funds	fund	NOUN
cblr-13858	2025	40	,	,	PUNCT
cblr-13858	2025	41	diversification	diversification	NOUN
cblr-13858	2025	42	,	,	PUNCT
cblr-13858	2025	43	and	and	CCONJ
cblr-13858	2025	44	risk.58	risk.58	VERB
cblr-13858	2025	45	6	6	NUM
cblr-13858	2025	46	however	however	ADV
cblr-13858	2025	47	,	,	PUNCT
cblr-13858	2025	48	these	these	DET
cblr-13858	2025	49	respondents	respondent	NOUN
cblr-13858	2025	50	were	be	AUX
cblr-13858	2025	51	relatively	relatively	ADV
cblr-13858	2025	52	highly	highly	ADV
cblr-13858	2025	53	-	-	PUNCT
cblr-13858	2025	54	educated	educate	VERB
cblr-13858	2025	55	and	and	CCONJ
cblr-13858	2025	56	wealthy	wealthy	ADJ
cblr-13858	2025	57	,	,	PUNCT
cblr-13858	2025	58	so	so	CCONJ
cblr-13858	2025	59	the	the	DET
cblr-13858	2025	60	results	result	NOUN
cblr-13858	2025	61	580	580	NUM
cblr-13858	2025	62	applied	apply	VERB
cblr-13858	2025	63	research	research	NOUN
cblr-13858	2025	64	&	&	CCONJ
cblr-13858	2025	65	consulting	consulting	PROPN
cblr-13858	2025	66	llc	llc	PROPN
cblr-13858	2025	67	,	,	PUNCT
cblr-13858	2025	68	supra	supra	PROPN
cblr-13858	2025	69	note	note	PROPN
cblr-13858	2025	70	572	572	NUM
cblr-13858	2025	71	,	,	PUNCT
cblr-13858	2025	72	at	at	ADP
cblr-13858	2025	73	38	38	NUM
cblr-13858	2025	74	.	.	PUNCT
cblr-13858	2026	1	see	see	VERB
cblr-13858	2026	2	also	also	ADV
cblr-13858	2026	3	lusardi	lusardi	PROPN
cblr-13858	2026	4	&	&	CCONJ
cblr-13858	2026	5	mitchell	mitchell	PROPN
cblr-13858	2026	6	,	,	PUNCT
cblr-13858	2026	7	supra	supra	PROPN
cblr-13858	2026	8	note	note	PROPN
cblr-13858	2026	9	572	572	NUM
cblr-13858	2026	10	,	,	PUNCT
cblr-13858	2026	11	at	at	ADP
cblr-13858	2026	12	22	22	NUM
cblr-13858	2026	13	(	(	PUNCT
cblr-13858	2026	14	noting	note	VERB
cblr-13858	2026	15	that	that	SCONJ
cblr-13858	2026	16	,	,	PUNCT
cblr-13858	2026	17	in	in	ADP
cblr-13858	2026	18	a	a	DET
cblr-13858	2026	19	survey	survey	NOUN
cblr-13858	2026	20	of	of	ADP
cblr-13858	2026	21	american	american	ADJ
cblr-13858	2026	22	adults	adult	NOUN
cblr-13858	2026	23	,	,	PUNCT
cblr-13858	2026	24	only	only	ADV
cblr-13858	2026	25	37	37	NUM
cblr-13858	2026	26	%	%	NOUN
cblr-13858	2026	27	knew	know	VERB
cblr-13858	2026	28	the	the	DET
cblr-13858	2026	29	relationship	relationship	NOUN
cblr-13858	2026	30	between	between	ADP
cblr-13858	2026	31	bond	bond	NOUN
cblr-13858	2026	32	prices	price	NOUN
cblr-13858	2026	33	and	and	CCONJ
cblr-13858	2026	34	interest	interest	NOUN
cblr-13858	2026	35	rate	rate	NOUN
cblr-13858	2026	36	.	.	PUNCT
cblr-13858	2026	37	)	)	PUNCT
cblr-13858	2026	38	.	.	PUNCT
cblr-13858	2027	1	581	581	NUM
cblr-13858	2027	2	see	see	VERB
cblr-13858	2027	3	lusardi	lusardi	NOUN
cblr-13858	2027	4	,	,	PUNCT
cblr-13858	2027	5	supra	supra	PROPN
cblr-13858	2027	6	note	note	PROPN
cblr-13858	2027	7	572	572	NUM
cblr-13858	2027	8	,	,	PUNCT
cblr-13858	2027	9	at	at	ADP
cblr-13858	2027	10	5	5	NUM
cblr-13858	2027	11	.	.	PUNCT
cblr-13858	2028	1	the	the	DET
cblr-13858	2028	2	questions	question	NOUN
cblr-13858	2028	3	were	be	AUX
cblr-13858	2028	4	as	as	SCONJ
cblr-13858	2028	5	follows	follow	VERB
cblr-13858	2028	6	:	:	PUNCT
cblr-13858	2028	7	(	(	PUNCT
cblr-13858	2028	8	1	1	X
cblr-13858	2028	9	)	)	PUNCT
cblr-13858	2028	10	suppose	suppose	VERB
cblr-13858	2028	11	you	you	PRON
cblr-13858	2028	12	had	have	VERB
cblr-13858	2028	13	$	$	SYM
cblr-13858	2028	14	100	100	NUM
cblr-13858	2028	15	in	in	ADP
cblr-13858	2028	16	a	a	DET
cblr-13858	2028	17	savings	saving	NOUN
cblr-13858	2028	18	account	account	NOUN
cblr-13858	2028	19	and	and	CCONJ
cblr-13858	2028	20	the	the	DET
cblr-13858	2028	21	interest	interest	NOUN
cblr-13858	2028	22	rate	rate	NOUN
cblr-13858	2028	23	was	be	AUX
cblr-13858	2028	24	2	2	NUM
cblr-13858	2028	25	%	%	NOUN
cblr-13858	2028	26	per	per	ADP
cblr-13858	2028	27	year	year	NOUN
cblr-13858	2028	28	.	.	PUNCT
cblr-13858	2029	1	after	after	ADP
cblr-13858	2029	2	5	5	NUM
cblr-13858	2029	3	years	year	NOUN
cblr-13858	2029	4	,	,	PUNCT
cblr-13858	2029	5	how	how	SCONJ
cblr-13858	2029	6	much	much	ADJ
cblr-13858	2029	7	do	do	AUX
cblr-13858	2029	8	you	you	PRON
cblr-13858	2029	9	think	think	VERB
cblr-13858	2029	10	you	you	PRON
cblr-13858	2029	11	would	would	AUX
cblr-13858	2029	12	have	have	VERB
cblr-13858	2029	13	in	in	ADP
cblr-13858	2029	14	the	the	DET
cblr-13858	2029	15	account	account	NOUN
cblr-13858	2029	16	if	if	SCONJ
cblr-13858	2029	17	you	you	PRON
cblr-13858	2029	18	left	leave	VERB
cblr-13858	2029	19	the	the	DET
cblr-13858	2029	20	money	money	NOUN
cblr-13858	2029	21	to	to	PART
cblr-13858	2029	22	grow	grow	VERB
cblr-13858	2029	23	:	:	PUNCT
cblr-13858	2029	24	more	more	ADJ
cblr-13858	2029	25	than	than	ADP
cblr-13858	2029	26	$	$	SYM
cblr-13858	2029	27	102	102	NUM
cblr-13858	2029	28	,	,	PUNCT
cblr-13858	2029	29	exactly	exactly	ADV
cblr-13858	2029	30	$	$	SYM
cblr-13858	2029	31	102	102	NUM
cblr-13858	2029	32	,	,	PUNCT
cblr-13858	2029	33	less	less	ADJ
cblr-13858	2029	34	than	than	ADP
cblr-13858	2029	35	$	$	SYM
cblr-13858	2029	36	102	102	NUM
cblr-13858	2029	37	?	?	PUNCT
cblr-13858	2030	1	(	(	PUNCT
cblr-13858	2030	2	2	2	X
cblr-13858	2030	3	)	)	PUNCT
cblr-13858	2030	4	imagine	imagine	VERB
cblr-13858	2030	5	that	that	SCONJ
cblr-13858	2030	6	the	the	DET
cblr-13858	2030	7	interest	interest	NOUN
cblr-13858	2030	8	rate	rate	NOUN
cblr-13858	2030	9	on	on	ADP
cblr-13858	2030	10	your	your	PRON
cblr-13858	2030	11	savings	saving	NOUN
cblr-13858	2030	12	account	account	NOUN
cblr-13858	2030	13	was	be	AUX
cblr-13858	2030	14	1	1	NUM
cblr-13858	2030	15	%	%	NOUN
cblr-13858	2030	16	per	per	ADP
cblr-13858	2030	17	year	year	NOUN
cblr-13858	2030	18	and	and	CCONJ
cblr-13858	2030	19	inflation	inflation	NOUN
cblr-13858	2030	20	was	be	AUX
cblr-13858	2030	21	2	2	NUM
cblr-13858	2030	22	%	%	NOUN
cblr-13858	2030	23	per	per	ADP
cblr-13858	2030	24	year	year	NOUN
cblr-13858	2030	25	.	.	PUNCT
cblr-13858	2031	1	after	after	ADP
cblr-13858	2031	2	1	1	NUM
cblr-13858	2031	3	year	year	NOUN
cblr-13858	2031	4	,	,	PUNCT
cblr-13858	2031	5	would	would	AUX
cblr-13858	2031	6	you	you	PRON
cblr-13858	2031	7	be	be	AUX
cblr-13858	2031	8	able	able	ADJ
cblr-13858	2031	9	to	to	PART
cblr-13858	2031	10	buy	buy	VERB
cblr-13858	2031	11	more	more	ADJ
cblr-13858	2031	12	than	than	ADP
cblr-13858	2031	13	,	,	PUNCT
cblr-13858	2031	14	exactly	exactly	ADV
cblr-13858	2031	15	the	the	DET
cblr-13858	2031	16	same	same	ADJ
cblr-13858	2031	17	as	as	ADP
cblr-13858	2031	18	,	,	PUNCT
cblr-13858	2031	19	or	or	CCONJ
cblr-13858	2031	20	less	less	ADJ
cblr-13858	2031	21	than	than	ADP
cblr-13858	2031	22	today	today	NOUN
cblr-13858	2031	23	with	with	ADP
cblr-13858	2031	24	the	the	DET
cblr-13858	2031	25	money	money	NOUN
cblr-13858	2031	26	in	in	ADP
cblr-13858	2031	27	this	this	DET
cblr-13858	2031	28	account	account	NOUN
cblr-13858	2031	29	?	?	PUNCT
cblr-13858	2032	1	(	(	PUNCT
cblr-13858	2032	2	3	3	X
cblr-13858	2032	3	)	)	PUNCT
cblr-13858	2032	4	do	do	AUX
cblr-13858	2032	5	you	you	PRON
cblr-13858	2032	6	think	think	VERB
cblr-13858	2032	7	that	that	SCONJ
cblr-13858	2032	8	the	the	DET
cblr-13858	2032	9	following	follow	VERB
cblr-13858	2032	10	statement	statement	NOUN
cblr-13858	2032	11	is	be	AUX
cblr-13858	2032	12	true	true	ADJ
cblr-13858	2032	13	or	or	CCONJ
cblr-13858	2032	14	false	false	ADJ
cblr-13858	2032	15	?	?	PUNCT
cblr-13858	2033	1	"	"	PUNCT
cblr-13858	2033	2	buying	buy	VERB
cblr-13858	2033	3	a	a	DET
cblr-13858	2033	4	single	single	ADJ
cblr-13858	2033	5	company	company	NOUN
cblr-13858	2033	6	stock	stock	NOUN
cblr-13858	2033	7	usually	usually	ADV
cblr-13858	2033	8	provides	provide	VERB
cblr-13858	2033	9	a	a	DET
cblr-13858	2033	10	safer	safe	ADJ
cblr-13858	2033	11	return	return	NOUN
cblr-13858	2033	12	than	than	ADP
cblr-13858	2033	13	a	a	DET
cblr-13858	2033	14	stock	stock	NOUN
cblr-13858	2033	15	mutual	mutual	ADJ
cblr-13858	2033	16	fund	fund	NOUN
cblr-13858	2033	17	.	.	PUNCT
cblr-13858	2033	18	"	"	PUNCT
cblr-13858	2034	1	582	582	NUM
cblr-13858	2034	2	i	i	PROPN
cblr-13858	2034	3	d.	d.	PROPN
cblr-13858	2034	4	at	at	ADP
cblr-13858	2034	5	6	6	NUM
cblr-13858	2034	6	.	.	SYM
cblr-13858	2034	7	3	3	NUM
cblr-13858	2034	8	hilgert	hilgert	PROPN
cblr-13858	2034	9	et	et	PROPN
cblr-13858	2034	10	al	al	PROPN
cblr-13858	2034	11	.	.	PROPN
cblr-13858	2034	12	,	,	PUNCT
cblr-13858	2034	13	supra	supra	PROPN
cblr-13858	2034	14	note	note	PROPN
cblr-13858	2034	15	572	572	NUM
cblr-13858	2034	16	,	,	PUNCT
cblr-13858	2034	17	at	at	ADP
cblr-13858	2034	18	313	313	NUM
cblr-13858	2034	19	.	.	PUNCT
cblr-13858	2035	1	584	584	NUM
cblr-13858	2035	2	see	see	VERB
cblr-13858	2035	3	lusardi	lusardi	PROPN
cblr-13858	2035	4	&	&	CCONJ
cblr-13858	2035	5	mitchell	mitchell	PROPN
cblr-13858	2035	6	,	,	PUNCT
cblr-13858	2035	7	supra	supra	PROPN
cblr-13858	2035	8	note	note	PROPN
cblr-13858	2035	9	572	572	NUM
cblr-13858	2035	10	,	,	PUNCT
cblr-13858	2035	11	at	at	ADP
cblr-13858	2035	12	21	21	NUM
cblr-13858	2035	13	.	.	PUNCT
cblr-13858	2036	1	s	s	AUX
cblr-13858	2036	2	see	see	PROPN
cblr-13858	2036	3	lusardi	lusardi	PROPN
cblr-13858	2036	4	,	,	PUNCT
cblr-13858	2036	5	supra	supra	PROPN
cblr-13858	2036	6	note	note	PROPN
cblr-13858	2036	7	572	572	NUM
cblr-13858	2036	8	,	,	PUNCT
cblr-13858	2036	9	at	at	ADP
cblr-13858	2036	10	8	8	NUM
cblr-13858	2036	11	-	-	SYM
cblr-13858	2036	12	10	10	NUM
cblr-13858	2036	13	,	,	PUNCT
cblr-13858	2036	14	26	26	NUM
cblr-13858	2036	15	.	.	PUNCT
cblr-13858	2037	1	crowdfunding	crowdfunding	NOUN
cblr-13858	2037	2	and	and	CCONJ
cblr-13858	2037	3	securities	securities	PROPN
cblr-13858	2037	4	la	la	PROPN
cblr-13858	2037	5	ws	ws	PROPN
cblr-13858	2037	6	illno	illno	PROPN
cblr-13858	2037	7	.	.	PUNCT
cblr-13858	2038	1	1	1	NUM
cblr-13858	2038	2	:	:	SYM
cblr-13858	2038	3	11	11	NUM
cblr-13858	2038	4	columbia	columbia	PROPN
cblr-13858	2038	5	business	business	NOUN
cblr-13858	2038	6	law	law	PROPN
cblr-13858	2038	7	review	review	NOUN
cblr-13858	2038	8	probably	probably	ADV
cblr-13858	2038	9	"	"	PUNCT
cblr-13858	2038	10	overstate	overstate	VERB
cblr-13858	2038	11	the	the	DET
cblr-13858	2038	12	level	level	NOUN
cblr-13858	2038	13	of	of	ADP
cblr-13858	2038	14	financial	financial	ADJ
cblr-13858	2038	15	literacy	literacy	NOUN
cblr-13858	2038	16	in	in	ADP
cblr-13858	2038	17	the	the	DET
cblr-13858	2038	18	general	general	ADJ
cblr-13858	2038	19	population	population	NOUN
cblr-13858	2038	20	.	.	PUNCT
cblr-13858	2039	1	"586	"586	VERB
cblr-13858	2039	2	the	the	DET
cblr-13858	2039	3	precise	precise	ADJ
cblr-13858	2039	4	numbers	number	NOUN
cblr-13858	2039	5	are	be	AUX
cblr-13858	2039	6	irrelevant	irrelevant	ADJ
cblr-13858	2039	7	,	,	PUNCT
cblr-13858	2039	8	however	however	ADV
cblr-13858	2039	9	.	.	PUNCT
cblr-13858	2040	1	it	it	PRON
cblr-13858	2040	2	is	be	AUX
cblr-13858	2040	3	clear	clear	ADJ
cblr-13858	2040	4	that	that	SCONJ
cblr-13858	2040	5	a	a	DET
cblr-13858	2040	6	significant	significant	ADJ
cblr-13858	2040	7	portion	portion	NOUN
cblr-13858	2040	8	of	of	ADP
cblr-13858	2040	9	the	the	DET
cblr-13858	2040	10	american	american	ADJ
cblr-13858	2040	11	public	public	PROPN
cblr-13858	2040	12	lacks	lack	VERB
cblr-13858	2040	13	basic	basic	ADJ
cblr-13858	2040	14	financial	financial	ADJ
cblr-13858	2040	15	literacy	literacy	NOUN
cblr-13858	2040	16	.	.	PUNCT
cblr-13858	2041	1	since	since	SCONJ
cblr-13858	2041	2	crowdfunding	crowdfunde	VERB
cblr-13858	2041	3	sites	site	NOUN
cblr-13858	2041	4	are	be	AUX
cblr-13858	2041	5	usually	usually	ADV
cblr-13858	2041	6	open	open	ADJ
cblr-13858	2041	7	to	to	ADP
cblr-13858	2041	8	the	the	DET
cblr-13858	2041	9	general	general	ADJ
cblr-13858	2041	10	public	public	NOUN
cblr-13858	2041	11	,	,	PUNCT
cblr-13858	2041	12	at	at	ADP
cblr-13858	2041	13	least	least	ADJ
cblr-13858	2041	14	some	some	PRON
cblr-13858	2041	15	of	of	ADP
cblr-13858	2041	16	the	the	DET
cblr-13858	2041	17	people	people	NOUN
cblr-13858	2041	18	investing	invest	VERB
cblr-13858	2041	19	in	in	ADP
cblr-13858	2041	20	crowdfunding	crowdfunding	NOUN
cblr-13858	2041	21	offerings	offering	NOUN
cblr-13858	2041	22	will	will	AUX
cblr-13858	2041	23	not	not	PART
cblr-13858	2041	24	have	have	VERB
cblr-13858	2041	25	the	the	DET
cblr-13858	2041	26	basic	basic	ADJ
cblr-13858	2041	27	financial	financial	ADJ
cblr-13858	2041	28	knowledge	knowledge	NOUN
cblr-13858	2041	29	required	require	VERB
cblr-13858	2041	30	to	to	PART
cblr-13858	2041	31	understand	understand	VERB
cblr-13858	2041	32	the	the	DET
cblr-13858	2041	33	risks	risk	NOUN
cblr-13858	2041	34	.	.	PUNCT
cblr-13858	2042	1	3	3	X
cblr-13858	2042	2	.	.	X
cblr-13858	2042	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2042	4	and	and	CCONJ
cblr-13858	2042	5	small	small	ADJ
cblr-13858	2042	6	business	business	NOUN
cblr-13858	2042	7	investment	investment	NOUN
cblr-13858	2042	8	risk	risk	NOUN
cblr-13858	2042	9	crowdfunding	crowdfunding	NOUN
cblr-13858	2042	10	offers	offer	VERB
cblr-13858	2042	11	relatively	relatively	ADV
cblr-13858	2042	12	risky	risky	ADJ
cblr-13858	2042	13	investments	investment	NOUN
cblr-13858	2042	14	to	to	ADP
cblr-13858	2042	15	relatively	relatively	ADV
cblr-13858	2042	16	unsophisticated	unsophisticated	ADJ
cblr-13858	2042	17	investors	investor	NOUN
cblr-13858	2042	18	.	.	PUNCT
cblr-13858	2043	1	some	some	PRON
cblr-13858	2043	2	of	of	ADP
cblr-13858	2043	3	its	its	PRON
cblr-13858	2043	4	features	feature	NOUN
cblr-13858	2043	5	may	may	AUX
cblr-13858	2043	6	reduce	reduce	VERB
cblr-13858	2043	7	the	the	DET
cblr-13858	2043	8	risk	risk	NOUN
cblr-13858	2043	9	of	of	ADP
cblr-13858	2043	10	loss	loss	NOUN
cblr-13858	2043	11	,	,	PUNCT
cblr-13858	2043	12	and	and	CCONJ
cblr-13858	2043	13	a	a	DET
cblr-13858	2043	14	crowdfunding	crowdfunding	NOUN
cblr-13858	2043	15	exemption	exemption	NOUN
cblr-13858	2043	16	could	could	AUX
cblr-13858	2043	17	be	be	AUX
cblr-13858	2043	18	structured	structure	VERB
cblr-13858	2043	19	to	to	PART
cblr-13858	2043	20	provide	provide	VERB
cblr-13858	2043	21	additional	additional	ADJ
cblr-13858	2043	22	investor	investor	NOUN
cblr-13858	2043	23	protection	protection	NOUN
cblr-13858	2043	24	.	.	PUNCT
cblr-13858	2044	1	but	but	CCONJ
cblr-13858	2044	2	,	,	PUNCT
cblr-13858	2044	3	no	no	ADV
cblr-13858	2044	4	matter	matter	ADV
cblr-13858	2044	5	how	how	SCONJ
cblr-13858	2044	6	an	an	DET
cblr-13858	2044	7	exemption	exemption	NOUN
cblr-13858	2044	8	is	be	AUX
cblr-13858	2044	9	framed	frame	VERB
cblr-13858	2044	10	,	,	PUNCT
cblr-13858	2044	11	many	many	ADJ
cblr-13858	2044	12	crowdfunding	crowdfunding	NOUN
cblr-13858	2044	13	investors	investor	NOUN
cblr-13858	2044	14	will	will	AUX
cblr-13858	2044	15	lose	lose	VERB
cblr-13858	2044	16	money	money	NOUN
cblr-13858	2044	17	.	.	PUNCT
cblr-13858	2045	1	the	the	DET
cblr-13858	2045	2	risks	risk	NOUN
cblr-13858	2045	3	associated	associate	VERB
cblr-13858	2045	4	with	with	ADP
cblr-13858	2045	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2045	6	can	can	AUX
cblr-13858	2045	7	not	not	PART
cblr-13858	2045	8	be	be	AUX
cblr-13858	2045	9	completely	completely	ADV
cblr-13858	2045	10	eliminated	eliminate	VERB
cblr-13858	2045	11	.	.	PUNCT
cblr-13858	2046	1	consider	consider	VERB
cblr-13858	2046	2	first	first	ADV
cblr-13858	2046	3	the	the	DET
cblr-13858	2046	4	effect	effect	NOUN
cblr-13858	2046	5	of	of	ADP
cblr-13858	2046	6	crowdfunding	crowdfunde	VERB
cblr-13858	2046	7	on	on	ADP
cblr-13858	2046	8	the	the	DET
cblr-13858	2046	9	risk	risk	NOUN
cblr-13858	2046	10	of	of	ADP
cblr-13858	2046	11	fraud	fraud	NOUN
cblr-13858	2046	12	.	.	PUNCT
cblr-13858	2047	1	no	no	ADV
cblr-13858	2047	2	matter	matter	ADV
cblr-13858	2047	3	how	how	SCONJ
cblr-13858	2047	4	the	the	DET
cblr-13858	2047	5	exemption	exemption	NOUN
cblr-13858	2047	6	is	be	AUX
cblr-13858	2047	7	structured	structure	VERB
cblr-13858	2047	8	,	,	PUNCT
cblr-13858	2047	9	there	there	PRON
cblr-13858	2047	10	will	will	AUX
cblr-13858	2047	11	be	be	AUX
cblr-13858	2047	12	fraud	fraud	NOUN
cblr-13858	2047	13	.	.	PUNCT
cblr-13858	2048	1	"	"	PUNCT
cblr-13858	2048	2	[	[	X
cblr-13858	2048	3	n]o	n]o	NOUN
cblr-13858	2048	4	amount	amount	NOUN
cblr-13858	2048	5	of	of	ADP
cblr-13858	2048	6	technical	technical	ADJ
cblr-13858	2048	7	exemption	exemption	NOUN
cblr-13858	2048	8	requirements	requirement	NOUN
cblr-13858	2048	9	will	will	AUX
cblr-13858	2048	10	hinder	hinder	VERB
cblr-13858	2048	11	the	the	DET
cblr-13858	2048	12	fraud	fraud	NOUN
cblr-13858	2048	13	artists	artist	NOUN
cblr-13858	2048	14	from	from	ADP
cblr-13858	2048	15	their	their	PRON
cblr-13858	2048	16	endeavors	endeavor	NOUN
cblr-13858	2048	17	.	.	PUNCT
cblr-13858	2049	1	"	"	PUNCT
cblr-13858	2049	2	"	"	PUNCT
cblr-13858	2049	3	but	but	CCONJ
cblr-13858	2049	4	,	,	PUNCT
cblr-13858	2049	5	of	of	ADP
cblr-13858	2049	6	course	course	NOUN
cblr-13858	2049	7	,	,	PUNCT
cblr-13858	2049	8	registration	registration	NOUN
cblr-13858	2049	9	itself	itself	PRON
cblr-13858	2049	10	does	do	AUX
cblr-13858	2049	11	not	not	PART
cblr-13858	2049	12	completely	completely	ADV
cblr-13858	2049	13	eliminate	eliminate	VERB
cblr-13858	2049	14	fraud	fraud	NOUN
cblr-13858	2049	15	.	.	PUNCT
cblr-13858	2050	1	the	the	DET
cblr-13858	2050	2	question	question	NOUN
cblr-13858	2050	3	is	be	AUX
cblr-13858	2050	4	a	a	DET
cblr-13858	2050	5	comparative	comparative	ADJ
cblr-13858	2050	6	one	one	NOUN
cblr-13858	2050	7	:	:	PUNCT
cblr-13858	2050	8	whether	whether	SCONJ
cblr-13858	2050	9	internetbased	internetbased	ADJ
cblr-13858	2050	10	crowdfunding	crowdfunding	NOUN
cblr-13858	2050	11	will	will	AUX
cblr-13858	2050	12	increase	increase	VERB
cblr-13858	2050	13	the	the	DET
cblr-13858	2050	14	incidence	incidence	NOUN
cblr-13858	2050	15	of	of	ADP
cblr-13858	2050	16	fraud	fraud	NOUN
cblr-13858	2050	17	,	,	PUNCT
cblr-13858	2050	18	and	and	CCONJ
cblr-13858	2050	19	,	,	PUNCT
cblr-13858	2050	20	if	if	SCONJ
cblr-13858	2050	21	so	so	ADV
cblr-13858	2050	22	,	,	PUNCT
cblr-13858	2050	23	by	by	ADP
cblr-13858	2050	24	how	how	SCONJ
cblr-13858	2050	25	much	much	ADJ
cblr-13858	2050	26	.	.	PUNCT
cblr-13858	2051	1	paul	paul	PROPN
cblr-13858	2051	2	spinrad	spinrad	PROPN
cblr-13858	2051	3	,	,	PUNCT
cblr-13858	2051	4	who	who	PRON
cblr-13858	2051	5	proposed	propose	VERB
cblr-13858	2051	6	the	the	DET
cblr-13858	2051	7	first	first	ADJ
cblr-13858	2051	8	crowdfunding	crowdfunding	NOUN
cblr-13858	2051	9	exemption	exemption	NOUN
cblr-13858	2051	10	,	,	PUNCT
cblr-13858	2051	11	argues	argue	VERB
cblr-13858	2051	12	that	that	SCONJ
cblr-13858	2051	13	fraudsters	fraudster	NOUN
cblr-13858	2051	14	will	will	AUX
cblr-13858	2051	15	not	not	PART
cblr-13858	2051	16	find	find	VERB
cblr-13858	2051	17	crowdfunding	crowdfunding	NOUN
cblr-13858	2051	18	appealing	appeal	VERB
cblr-13858	2051	19	because	because	SCONJ
cblr-13858	2051	20	of	of	ADP
cblr-13858	2051	21	the	the	DET
cblr-13858	2051	22	small	small	ADJ
cblr-13858	2051	23	amounts	amount	NOUN
cblr-13858	2051	24	involved	involve	VERB
cblr-13858	2051	25	and	and	CCONJ
cblr-13858	2051	26	the	the	DET
cblr-13858	2051	27	open	open	ADJ
cblr-13858	2051	28	,	,	PUNCT
cblr-13858	2051	29	public	public	ADJ
cblr-13858	2051	30	nature	nature	NOUN
cblr-13858	2051	31	of	of	ADP
cblr-13858	2051	32	crowdfunding.8	crowdfunding.8	PROPN
cblr-13858	2051	33	"	"	PUNCT
cblr-13858	2051	34	it	it	PRON
cblr-13858	2051	35	is	be	AUX
cblr-13858	2051	36	not	not	PART
cblr-13858	2051	37	clear	clear	ADJ
cblr-13858	2051	38	if	if	SCONJ
cblr-13858	2051	39	that	that	SCONJ
cblr-13858	2051	40	586	586	NUM
cblr-13858	2051	41	lusardi	lusardi	NOUN
cblr-13858	2051	42	&	&	CCONJ
cblr-13858	2051	43	mitchell	mitchell	PROPN
cblr-13858	2051	44	,	,	PUNCT
cblr-13858	2051	45	supra	supra	PROPN
cblr-13858	2051	46	note	note	PROPN
cblr-13858	2051	47	572	572	NUM
cblr-13858	2051	48	,	,	PUNCT
cblr-13858	2051	49	at	at	ADP
cblr-13858	2051	50	5	5	NUM
cblr-13858	2051	51	.	.	PUNCT
cblr-13858	2051	52	58	58	NUM
cblr-13858	2051	53	.	.	PUNCT
cblr-13858	2052	1	cohn	cohn	PROPN
cblr-13858	2052	2	&	&	CCONJ
cblr-13858	2052	3	yadley	yadley	PROPN
cblr-13858	2052	4	,	,	PUNCT
cblr-13858	2052	5	supra	supra	PROPN
cblr-13858	2052	6	note	note	PROPN
cblr-13858	2052	7	11	11	NUM
cblr-13858	2052	8	,	,	PUNCT
cblr-13858	2052	9	at	at	ADP
cblr-13858	2052	10	72	72	NUM
cblr-13858	2052	11	.	.	PUNCT
cblr-13858	2052	12	"	"	PUNCT
cblr-13858	2053	1	scott	scott	PROPN
cblr-13858	2053	2	shane	shane	PROPN
cblr-13858	2053	3	,	,	PUNCT
cblr-13858	2053	4	let	let	VERB
cblr-13858	2053	5	the	the	DET
cblr-13858	2053	6	crowd	crowd	NOUN
cblr-13858	2053	7	buy	buy	VERB
cblr-13858	2053	8	equity	equity	NOUN
cblr-13858	2053	9	in	in	ADP
cblr-13858	2053	10	private	private	ADJ
cblr-13858	2053	11	companies	company	NOUN
cblr-13858	2053	12	,	,	PUNCT
cblr-13858	2053	13	bloomberg	bloomberg	PROPN
cblr-13858	2053	14	businessweek	businessweek	NOUN
cblr-13858	2053	15	,	,	PUNCT
cblr-13858	2053	16	may	may	AUX
cblr-13858	2053	17	3	3	NUM
cblr-13858	2053	18	,	,	PUNCT
cblr-13858	2053	19	2011	2011	NUM
cblr-13858	2053	20	,	,	PUNCT
cblr-13858	2053	21	available	available	ADJ
cblr-13858	2053	22	at	at	ADP
cblr-13858	2053	23	http://www	http://www	PROPN
cblr-13858	2053	24	.	.	PUNCT
cblr-13858	2054	1	businessweek.com/smallbiz/content/may20l1/sb2011052_710243.htm	businessweek.com/smallbiz/content/may20l1/sb2011052_710243.htm	PROPN
cblr-13858	2054	2	.	.	PUNCT
cblr-13858	2055	1	see	see	AUX
cblr-13858	2055	2	also	also	ADV
cblr-13858	2055	3	sbe	sbe	VERB
cblr-13858	2055	4	council	council	NOUN
cblr-13858	2055	5	proposal	proposal	NOUN
cblr-13858	2055	6	,	,	PUNCT
cblr-13858	2055	7	supra	supra	PROPN
cblr-13858	2055	8	note	note	NOUN
cblr-13858	2055	9	247	247	NUM
cblr-13858	2055	10	,	,	PUNCT
cblr-13858	2055	11	at	at	ADP
cblr-13858	2055	12	4	4	NUM
cblr-13858	2055	13	(	(	PUNCT
cblr-13858	2055	14	arguing	argue	VERB
cblr-13858	2055	15	that	that	SCONJ
cblr-13858	2055	16	the	the	DET
cblr-13858	2055	17	companies	company	NOUN
cblr-13858	2055	18	that	that	PRON
cblr-13858	2055	19	would	would	AUX
cblr-13858	2055	20	use	use	VERB
cblr-13858	2055	21	its	its	PRON
cblr-13858	2055	22	proposed	propose	VERB
cblr-13858	2055	23	rule	rule	NOUN
cblr-13858	2055	24	"	"	PUNCT
cblr-13858	2055	25	are	be	AUX
cblr-13858	2055	26	small	small	ADJ
cblr-13858	2055	27	enough	enough	ADV
cblr-13858	2055	28	and	and	CCONJ
cblr-13858	2055	29	transparent	transparent	ADJ
cblr-13858	2055	30	enough	enough	ADV
cblr-13858	2055	31	to	to	PART
cblr-13858	2055	32	prevent	prevent	VERB
cblr-13858	2055	33	fraud	fraud	NOUN
cblr-13858	2055	34	"	"	PUNCT
cblr-13858	2055	35	)	)	PUNCT
cblr-13858	2055	36	.	.	PUNCT
cblr-13858	2056	1	112	112	NUM
cblr-13858	2057	1	[	[	X
cblr-13858	2057	2	vol	vol	NOUN
cblr-13858	2057	3	.	.	PUNCT
cblr-13858	2057	4	2012	2012	NUM
cblr-13858	2057	5	is	be	AUX
cblr-13858	2057	6	true	true	ADJ
cblr-13858	2057	7	.	.	PUNCT
cblr-13858	2058	1	on	on	ADP
cblr-13858	2058	2	the	the	DET
cblr-13858	2058	3	one	one	NUM
cblr-13858	2058	4	hand	hand	NOUN
cblr-13858	2058	5	,	,	PUNCT
cblr-13858	2058	6	the	the	DET
cblr-13858	2058	7	internet	internet	NOUN
cblr-13858	2058	8	allows	allow	VERB
cblr-13858	2058	9	fraudulent	fraudulent	ADJ
cblr-13858	2058	10	offerings	offering	NOUN
cblr-13858	2058	11	to	to	PART
cblr-13858	2058	12	be	be	AUX
cblr-13858	2058	13	distributed	distribute	VERB
cblr-13858	2058	14	widely	widely	ADV
cblr-13858	2058	15	at	at	ADP
cblr-13858	2058	16	low	low	ADJ
cblr-13858	2058	17	cost	cost	NOUN
cblr-13858	2058	18	,	,	PUNCT
cblr-13858	2058	19	"	"	PUNCT
cblr-13858	2058	20	'	'	PUNCT
cblr-13858	2058	21	so	so	ADV
cblr-13858	2058	22	crowdfunding	crowdfunding	NOUN
cblr-13858	2058	23	sites	site	NOUN
cblr-13858	2058	24	are	be	AUX
cblr-13858	2058	25	an	an	DET
cblr-13858	2058	26	obvious	obvious	ADJ
cblr-13858	2058	27	target	target	NOUN
cblr-13858	2058	28	for	for	ADP
cblr-13858	2058	29	fraudsters	fraudster	NOUN
cblr-13858	2058	30	.	.	PUNCT
cblr-13858	2059	1	on	on	ADP
cblr-13858	2059	2	the	the	DET
cblr-13858	2059	3	other	other	ADJ
cblr-13858	2059	4	hand	hand	NOUN
cblr-13858	2059	5	,	,	PUNCT
cblr-13858	2059	6	fraud	fraud	NOUN
cblr-13858	2059	7	is	be	AUX
cblr-13858	2059	8	"	"	PUNCT
cblr-13858	2059	9	more	more	ADV
cblr-13858	2059	10	detectable	detectable	ADJ
cblr-13858	2059	11	on	on	ADP
cblr-13858	2059	12	the	the	DET
cblr-13858	2059	13	internet,"590	internet,"590	PROPN
cblr-13858	2059	14	especially	especially	ADV
cblr-13858	2059	15	when	when	SCONJ
cblr-13858	2059	16	it	it	PRON
cblr-13858	2059	17	must	must	AUX
cblr-13858	2059	18	be	be	AUX
cblr-13858	2059	19	mediated	mediate	VERB
cblr-13858	2059	20	through	through	ADP
cblr-13858	2059	21	an	an	DET
cblr-13858	2059	22	independent	independent	ADJ
cblr-13858	2059	23	crowdfunding	crowdfunding	NOUN
cblr-13858	2059	24	site	site	NOUN
cblr-13858	2059	25	that	that	PRON
cblr-13858	2059	26	is	be	AUX
cblr-13858	2059	27	open	open	ADJ
cblr-13858	2059	28	to	to	ADP
cblr-13858	2059	29	the	the	DET
cblr-13858	2059	30	public	public	NOUN
cblr-13858	2059	31	.	.	PUNCT
cblr-13858	2060	1	the	the	DET
cblr-13858	2060	2	net	net	ADJ
cblr-13858	2060	3	effect	effect	NOUN
cblr-13858	2060	4	is	be	AUX
cblr-13858	2060	5	indeterminate	indeterminate	ADJ
cblr-13858	2060	6	.	.	PUNCT
cblr-13858	2061	1	however	however	ADV
cblr-13858	2061	2	,	,	PUNCT
cblr-13858	2061	3	it	it	PRON
cblr-13858	2061	4	is	be	AUX
cblr-13858	2061	5	important	important	ADJ
cblr-13858	2061	6	to	to	PART
cblr-13858	2061	7	remember	remember	VERB
cblr-13858	2061	8	that	that	SCONJ
cblr-13858	2061	9	a	a	DET
cblr-13858	2061	10	crowdfunding	crowdfunding	NOUN
cblr-13858	2061	11	exemption	exemption	NOUN
cblr-13858	2061	12	would	would	AUX
cblr-13858	2061	13	not	not	PART
cblr-13858	2061	14	legitimize	legitimize	VERB
cblr-13858	2061	15	fraud	fraud	NOUN
cblr-13858	2061	16	or	or	CCONJ
cblr-13858	2061	17	protect	protect	VERB
cblr-13858	2061	18	fraudulent	fraudulent	ADJ
cblr-13858	2061	19	offerings	offering	NOUN
cblr-13858	2061	20	from	from	ADP
cblr-13858	2061	21	the	the	DET
cblr-13858	2061	22	antifraud	antifraud	PROPN
cblr-13858	2061	23	rules	rule	NOUN
cblr-13858	2061	24	in	in	ADP
cblr-13858	2061	25	the	the	DET
cblr-13858	2061	26	securities	security	NOUN
cblr-13858	2061	27	statutes	statute	NOUN
cblr-13858	2061	28	.	.	PUNCT
cblr-13858	2062	1	the	the	DET
cblr-13858	2062	2	sec	sec	PROPN
cblr-13858	2062	3	and	and	CCONJ
cblr-13858	2062	4	private	private	ADJ
cblr-13858	2062	5	parties	party	NOUN
cblr-13858	2062	6	would	would	AUX
cblr-13858	2062	7	still	still	ADV
cblr-13858	2062	8	have	have	VERB
cblr-13858	2062	9	the	the	DET
cblr-13858	2062	10	usual	usual	ADJ
cblr-13858	2062	11	remedies	remedy	NOUN
cblr-13858	2062	12	for	for	ADP
cblr-13858	2062	13	any	any	DET
cblr-13858	2062	14	fraud	fraud	NOUN
cblr-13858	2062	15	.	.	PUNCT
cblr-13858	2063	1	the	the	DET
cblr-13858	2063	2	crowdfunding	crowdfunding	NOUN
cblr-13858	2063	3	structure	structure	NOUN
cblr-13858	2063	4	does	do	AUX
cblr-13858	2063	5	have	have	VERB
cblr-13858	2063	6	some	some	DET
cblr-13858	2063	7	features	feature	NOUN
cblr-13858	2063	8	that	that	PRON
cblr-13858	2063	9	could	could	AUX
cblr-13858	2063	10	help	help	VERB
cblr-13858	2063	11	limit	limit	VERB
cblr-13858	2063	12	some	some	PRON
cblr-13858	2063	13	of	of	ADP
cblr-13858	2063	14	the	the	DET
cblr-13858	2063	15	risks	risk	NOUN
cblr-13858	2063	16	of	of	ADP
cblr-13858	2063	17	investing	invest	VERB
cblr-13858	2063	18	in	in	ADP
cblr-13858	2063	19	small	small	ADJ
cblr-13858	2063	20	business	business	NOUN
cblr-13858	2063	21	ventures	venture	NOUN
cblr-13858	2063	22	.	.	PUNCT
cblr-13858	2064	1	first	first	ADV
cblr-13858	2064	2	,	,	PUNCT
cblr-13858	2064	3	like	like	ADP
cblr-13858	2064	4	venture	venture	NOUN
cblr-13858	2064	5	capital	capital	NOUN
cblr-13858	2064	6	,	,	PUNCT
cblr-13858	2064	7	crowdfunding	crowdfunde	VERB
cblr-13858	2064	8	sometimes	sometimes	ADV
cblr-13858	2064	9	involves	involve	VERB
cblr-13858	2064	10	staged	stage	VERB
cblr-13858	2064	11	financing.5	financing.5	NOUN
cblr-13858	2064	12	1	1	NUM
cblr-13858	2064	13	the	the	DET
cblr-13858	2064	14	need	need	NOUN
cblr-13858	2064	15	to	to	PART
cblr-13858	2064	16	come	come	VERB
cblr-13858	2064	17	back	back	ADV
cblr-13858	2064	18	for	for	ADP
cblr-13858	2064	19	additional	additional	ADJ
cblr-13858	2064	20	funds	fund	NOUN
cblr-13858	2064	21	could	could	AUX
cblr-13858	2064	22	moderate	moderate	VERB
cblr-13858	2064	23	entrepreneur	entrepreneur	NOUN
cblr-13858	2064	24	behavior	behavior	NOUN
cblr-13858	2064	25	,	,	PUNCT
cblr-13858	2064	26	especially	especially	ADV
cblr-13858	2064	27	if	if	SCONJ
cblr-13858	2064	28	prior	prior	ADJ
cblr-13858	2064	29	-	-	PUNCT
cblr-13858	2064	30	round	round	NOUN
cblr-13858	2064	31	investors	investor	NOUN
cblr-13858	2064	32	are	be	AUX
cblr-13858	2064	33	able	able	ADJ
cblr-13858	2064	34	to	to	PART
cblr-13858	2064	35	comment	comment	VERB
cblr-13858	2064	36	publicly	publicly	ADV
cblr-13858	2064	37	on	on	ADP
cblr-13858	2064	38	the	the	DET
cblr-13858	2064	39	crowdfunding	crowdfunding	NOUN
cblr-13858	2064	40	site	site	NOUN
cblr-13858	2064	41	about	about	ADP
cblr-13858	2064	42	the	the	DET
cblr-13858	2064	43	entrepreneur	entrepreneur	NOUN
cblr-13858	2064	44	's	's	PART
cblr-13858	2064	45	behavior	behavior	NOUN
cblr-13858	2064	46	.	.	PUNCT
cblr-13858	2065	1	second	second	ADJ
cblr-13858	2065	2	,	,	PUNCT
cblr-13858	2065	3	investors	investor	NOUN
cblr-13858	2065	4	could	could	AUX
cblr-13858	2065	5	use	use	VERB
cblr-13858	2065	6	crowdfunding	crowdfunde	VERB
cblr-13858	2065	7	discussion	discussion	NOUN
cblr-13858	2065	8	boards	board	NOUN
cblr-13858	2065	9	to	to	PART
cblr-13858	2065	10	point	point	VERB
cblr-13858	2065	11	out	out	ADP
cblr-13858	2065	12	problems	problem	NOUN
cblr-13858	2065	13	with	with	ADP
cblr-13858	2065	14	proposed	propose	VERB
cblr-13858	2065	15	ventures	venture	NOUN
cblr-13858	2065	16	,	,	PUNCT
cblr-13858	2065	17	to	to	PART
cblr-13858	2065	18	coax	coax	VERB
cblr-13858	2065	19	concessions	concession	NOUN
cblr-13858	2065	20	from	from	ADP
cblr-13858	2065	21	entrepreneurs	entrepreneur	NOUN
cblr-13858	2065	22	prior	prior	ADV
cblr-13858	2065	23	to	to	ADP
cblr-13858	2065	24	investing	investing	NOUN
cblr-13858	2065	25	,	,	PUNCT
cblr-13858	2065	26	and	and	CCONJ
cblr-13858	2065	27	to	to	PART
cblr-13858	2065	28	monitor	monitor	VERB
cblr-13858	2065	29	investments	investment	NOUN
cblr-13858	2065	30	after	after	SCONJ
cblr-13858	2065	31	they	they	PRON
cblr-13858	2065	32	invest	invest	VERB
cblr-13858	2065	33	.	.	PUNCT
cblr-13858	2066	1	lenders	lender	NOUN
cblr-13858	2066	2	on	on	ADP
cblr-13858	2066	3	peer	peer	NOUN
cblr-13858	2066	4	-	-	PUNCT
cblr-13858	2066	5	to	to	ADP
cblr-13858	2066	6	-	-	PUNCT
cblr-13858	2066	7	peer	peer	NOUN
cblr-13858	2066	8	(	(	PUNCT
cblr-13858	2066	9	"	"	PUNCT
cblr-13858	2066	10	p2p	p2p	NOUN
cblr-13858	2066	11	"	"	PUNCT
cblr-13858	2066	12	)	)	PUNCT
cblr-13858	2066	13	lending	lending	NOUN
cblr-13858	2066	14	sites	site	NOUN
cblr-13858	2066	15	"	"	PUNCT
cblr-13858	2066	16	show	show	VERB
cblr-13858	2066	17	a	a	DET
cblr-13858	2066	18	remarkable	remarkable	ADJ
cblr-13858	2066	19	propensity	propensity	NOUN
cblr-13858	2066	20	to	to	PART
cblr-13858	2066	21	shoulder	shoulder	VERB
cblr-13858	2066	22	the	the	DET
cblr-13858	2066	23	burden	burden	NOUN
cblr-13858	2066	24	of	of	ADP
cblr-13858	2066	25	monitoring	monitor	VERB
cblr-13858	2066	26	underlying	underlie	VERB
cblr-13858	2066	27	loan	loan	NOUN
cblr-13858	2066	28	debts	debt	NOUN
cblr-13858	2066	29	.	.	PUNCT
cblr-13858	2067	1	web	web	NOUN
cblr-13858	2067	2	forums	forum	NOUN
cblr-13858	2067	3	and	and	CCONJ
cblr-13858	2067	4	message	message	NOUN
cblr-13858	2067	5	boards	board	NOUN
cblr-13858	2067	6	are	be	AUX
cblr-13858	2067	7	replete	replete	ADJ
cblr-13858	2067	8	with	with	ADP
cblr-13858	2067	9	the	the	DET
cblr-13858	2067	10	adventures	adventure	NOUN
cblr-13858	2067	11	of	of	ADP
cblr-13858	2067	12	[	[	X
cblr-13858	2067	13	a	a	X
cblr-13858	2067	14	]	]	X
cblr-13858	2067	15	p2p	p2p	NOUN
cblr-13858	2067	16	lender	lender	NOUN
cblr-13858	2067	17	qua	qua	NOUN
cblr-13858	2067	18	detective	detective	NOUN
cblr-13858	2067	19	,	,	PUNCT
cblr-13858	2067	20	ferreting	ferret	VERB
cblr-13858	2067	21	out	out	ADP
cblr-13858	2067	22	frauds	fraud	NOUN
cblr-13858	2067	23	that	that	PRON
cblr-13858	2067	24	have	have	AUX
cblr-13858	2067	25	been	be	AUX
cblr-13858	2067	26	overlooked	overlook	VERB
cblr-13858	2067	27	by	by	ADP
cblr-13858	2067	28	the	the	DET
cblr-13858	2067	29	platform	platform	NOUN
cblr-13858	2067	30	.	.	PUNCT
cblr-13858	2067	31	"592	"592	PUNCT
cblr-13858	2068	1	"	"	PUNCT
cblr-13858	2068	2	9	9	NUM
cblr-13858	2068	3	fisch	fisch	PROPN
cblr-13858	2068	4	,	,	PUNCT
cblr-13858	2068	5	supra	supra	PROPN
cblr-13858	2068	6	note	note	NOUN
cblr-13858	2068	7	514	514	NUM
cblr-13858	2068	8	,	,	PUNCT
cblr-13858	2068	9	at	at	ADP
cblr-13858	2068	10	58	58	NUM
cblr-13858	2068	11	.	.	PUNCT
cblr-13858	2068	12	59	59	NUM
cblr-13858	2069	1	i	i	PRON
cblr-13858	2069	2	d.	d.	PROPN
cblr-13858	2069	3	at	at	ADP
cblr-13858	2069	4	81	81	NUM
cblr-13858	2069	5	.	.	PUNCT
cblr-13858	2070	1	591	591	NUM
cblr-13858	2070	2	see	see	VERB
cblr-13858	2070	3	,	,	PUNCT
cblr-13858	2070	4	e.g.	e.g.	ADV
cblr-13858	2070	5	,	,	PUNCT
cblr-13858	2070	6	frequently	frequently	ADV
cblr-13858	2070	7	asked	ask	VERB
cblr-13858	2070	8	questions	question	NOUN
cblr-13858	2070	9	(	(	PUNCT
cblr-13858	2070	10	faqs	faqs	PROPN
cblr-13858	2070	11	)	)	PUNCT
cblr-13858	2070	12	,	,	PUNCT
cblr-13858	2070	13	indiegogo	indiegogo	NOUN
cblr-13858	2070	14	,	,	PUNCT
cblr-13858	2070	15	http://www.indiegogo.com/about/faqs	http://www.indiegogo.com/about/faqs	PRON
cblr-13858	2070	16	(	(	PUNCT
cblr-13858	2070	17	last	last	ADJ
cblr-13858	2070	18	visited	visit	VERB
cblr-13858	2070	19	mar	mar	PROPN
cblr-13858	2070	20	.	.	PROPN
cblr-13858	2070	21	5	5	NUM
cblr-13858	2070	22	,	,	PUNCT
cblr-13858	2070	23	2012	2012	NUM
cblr-13858	2070	24	)	)	PUNCT
cblr-13858	2070	25	(	(	PUNCT
cblr-13858	2070	26	indicating	indicate	VERB
cblr-13858	2070	27	that	that	SCONJ
cblr-13858	2070	28	fundraising	fundraising	NOUN
cblr-13858	2070	29	can	can	AUX
cblr-13858	2070	30	be	be	AUX
cblr-13858	2070	31	continued	continue	VERB
cblr-13858	2070	32	after	after	ADP
cblr-13858	2070	33	the	the	DET
cblr-13858	2070	34	close	close	NOUN
cblr-13858	2070	35	of	of	ADP
cblr-13858	2070	36	a	a	DET
cblr-13858	2070	37	campaign	campaign	NOUN
cblr-13858	2070	38	by	by	ADP
cblr-13858	2070	39	starting	start	VERB
cblr-13858	2070	40	a	a	DET
cblr-13858	2070	41	new	new	ADJ
cblr-13858	2070	42	campaign	campaign	NOUN
cblr-13858	2070	43	)	)	PUNCT
cblr-13858	2070	44	;	;	PUNCT
cblr-13858	2070	45	creating	create	VERB
cblr-13858	2070	46	a	a	DET
cblr-13858	2070	47	project	project	NOUN
cblr-13858	2070	48	,	,	PUNCT
cblr-13858	2070	49	kickstarter	kickstarter	PROPN
cblr-13858	2070	50	,	,	PUNCT
cblr-13858	2070	51	http://www	http://www	PROPN
cblr-13858	2071	1	.	.	PUNCT
cblr-13858	2071	2	kickstarter.com/help/faq/creating%20a%20project#staraproj	kickstarter.com/help/faq/creating%20a%20project#staraproj	PROPN
cblr-13858	2071	3	(	(	PUNCT
cblr-13858	2071	4	discussing	discuss	VERB
cblr-13858	2071	5	splitting	splitting	NOUN
cblr-13858	2071	6	funding	funding	NOUN
cblr-13858	2071	7	for	for	ADP
cblr-13858	2071	8	a	a	DET
cblr-13858	2071	9	project	project	NOUN
cblr-13858	2071	10	into	into	ADP
cblr-13858	2071	11	stages	stage	NOUN
cblr-13858	2071	12	)	)	PUNCT
cblr-13858	2071	13	.	.	PUNCT
cblr-13858	2072	1	see	see	VERB
cblr-13858	2072	2	also	also	ADV
cblr-13858	2072	3	lawton	lawton	PROPN
cblr-13858	2072	4	&	&	CCONJ
cblr-13858	2072	5	marom	marom	PROPN
cblr-13858	2072	6	,	,	PUNCT
cblr-13858	2072	7	supra	supra	ADJ
cblr-13858	2072	8	note	note	NOUN
cblr-13858	2072	9	2	2	NUM
cblr-13858	2072	10	,	,	PUNCT
cblr-13858	2072	11	at	at	ADP
cblr-13858	2072	12	112	112	NUM
cblr-13858	2072	13	(	(	PUNCT
cblr-13858	2072	14	noting	note	VERB
cblr-13858	2072	15	that	that	SCONJ
cblr-13858	2072	16	with	with	ADP
cblr-13858	2072	17	crowdfunding	crowdfunding	NOUN
cblr-13858	2072	18	,	,	PUNCT
cblr-13858	2072	19	the	the	DET
cblr-13858	2072	20	discrete	discrete	ADJ
cblr-13858	2072	21	rounds	round	NOUN
cblr-13858	2072	22	of	of	ADP
cblr-13858	2072	23	financing	financing	NOUN
cblr-13858	2072	24	are	be	AUX
cblr-13858	2072	25	being	be	AUX
cblr-13858	2072	26	replaced	replace	VERB
cblr-13858	2072	27	with	with	ADP
cblr-13858	2072	28	the	the	DET
cblr-13858	2072	29	"	"	PUNCT
cblr-13858	2072	30	rolling	rolling	ADJ
cblr-13858	2072	31	close	close	NOUN
cblr-13858	2072	32	,	,	PUNCT
cblr-13858	2072	33	"	"	PUNCT
cblr-13858	2072	34	which	which	PRON
cblr-13858	2072	35	provides	provide	VERB
cblr-13858	2072	36	continuous	continuous	ADJ
cblr-13858	2072	37	funding	funding	NOUN
cblr-13858	2072	38	)	)	PUNCT
cblr-13858	2072	39	.	.	PUNCT
cblr-13858	2073	1	592	592	NUM
cblr-13858	2073	2	verstein	verstein	NOUN
cblr-13858	2073	3	,	,	PUNCT
cblr-13858	2073	4	supra	supra	PROPN
cblr-13858	2073	5	note	note	NOUN
cblr-13858	2073	6	12	12	NUM
cblr-13858	2073	7	,	,	PUNCT
cblr-13858	2073	8	at	at	ADP
cblr-13858	2073	9	15	15	NUM
cblr-13858	2073	10	.	.	PUNCT
cblr-13858	2074	1	no	no	INTJ
cblr-13858	2074	2	.	.	PUNCT
cblr-13858	2075	1	i:1	i:1	CCONJ
cblr-13858	2075	2	]	]	PUNCT
cblr-13858	2075	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2075	4	and	and	CCONJ
cblr-13858	2075	5	securities	security	NOUN
cblr-13858	2075	6	laws	law	NOUN
cblr-13858	2075	7	113	113	NUM
cblr-13858	2075	8	columbia	columbia	PROPN
cblr-13858	2075	9	business	business	NOUN
cblr-13858	2075	10	law	law	PROPN
cblr-13858	2075	11	review	review	NOUN
cblr-13858	2075	12	under	under	ADP
cblr-13858	2075	13	the	the	DET
cblr-13858	2075	14	right	right	ADJ
cblr-13858	2075	15	conditions	condition	NOUN
cblr-13858	2075	16	,	,	PUNCT
cblr-13858	2075	17	crowdfunding	crowdfunding	NOUN
cblr-13858	2075	18	could	could	AUX
cblr-13858	2075	19	benefit	benefit	VERB
cblr-13858	2075	20	from	from	ADP
cblr-13858	2075	21	"	"	PUNCT
cblr-13858	2075	22	the	the	DET
cblr-13858	2075	23	wisdom	wisdom	NOUN
cblr-13858	2075	24	of	of	ADP
cblr-13858	2075	25	crowds	crowd	NOUN
cblr-13858	2075	26	,	,	PUNCT
cblr-13858	2075	27	"	"	PUNCT
cblr-13858	2075	28	"	"	PUNCT
cblr-13858	2075	29	the	the	DET
cblr-13858	2075	30	notion	notion	NOUN
cblr-13858	2075	31	that	that	SCONJ
cblr-13858	2075	32	"	"	PUNCT
cblr-13858	2075	33	even	even	ADV
cblr-13858	2075	34	if	if	SCONJ
cblr-13858	2075	35	most	most	ADJ
cblr-13858	2075	36	of	of	ADP
cblr-13858	2075	37	the	the	DET
cblr-13858	2075	38	people	people	NOUN
cblr-13858	2075	39	within	within	ADP
cblr-13858	2075	40	a	a	DET
cblr-13858	2075	41	group	group	NOUN
cblr-13858	2075	42	are	be	AUX
cblr-13858	2075	43	not	not	PART
cblr-13858	2075	44	especially	especially	ADV
cblr-13858	2075	45	well	well	ADV
cblr-13858	2075	46	-	-	PUNCT
cblr-13858	2075	47	informed	inform	VERB
cblr-13858	2075	48	or	or	CCONJ
cblr-13858	2075	49	rational	rational	ADJ
cblr-13858	2075	50	.	.	PUNCT
cblr-13858	2075	51	.	.	PUNCT
cblr-13858	2075	52	.	.	PUNCT
cblr-13858	2076	1	[	[	X
cblr-13858	2076	2	the	the	DET
cblr-13858	2076	3	group	group	NOUN
cblr-13858	2076	4	]	]	PUNCT
cblr-13858	2076	5	can	can	AUX
cblr-13858	2076	6	still	still	ADV
cblr-13858	2076	7	reach	reach	VERB
cblr-13858	2076	8	a	a	DET
cblr-13858	2076	9	collectively	collectively	ADV
cblr-13858	2076	10	wise	wise	ADJ
cblr-13858	2076	11	decision	decision	NOUN
cblr-13858	2076	12	.	.	PUNCT
cblr-13858	2077	1	"9	"9	VERB
cblr-13858	2077	2	the	the	DET
cblr-13858	2077	3	knowledge	knowledge	NOUN
cblr-13858	2077	4	gap	gap	NOUN
cblr-13858	2077	5	that	that	PRON
cblr-13858	2077	6	once	once	ADV
cblr-13858	2077	7	separated	separate	VERB
cblr-13858	2077	8	professionals	professional	NOUN
cblr-13858	2077	9	from	from	ADP
cblr-13858	2077	10	the	the	DET
cblr-13858	2077	11	general	general	ADJ
cblr-13858	2077	12	public	public	NOUN
cblr-13858	2077	13	has	have	AUX
cblr-13858	2077	14	shrunk	shrink	VERB
cblr-13858	2077	15	as	as	SCONJ
cblr-13858	2077	16	information	information	NOUN
cblr-13858	2077	17	has	have	AUX
cblr-13858	2077	18	become	become	VERB
cblr-13858	2077	19	more	more	ADV
cblr-13858	2077	20	readily	readily	ADV
cblr-13858	2077	21	accessible	accessible	ADJ
cblr-13858	2077	22	through	through	ADP
cblr-13858	2077	23	the	the	DET
cblr-13858	2077	24	internet	internet	NOUN
cblr-13858	2077	25	.	.	PUNCT
cblr-13858	2078	1	95	95	NUM
cblr-13858	2079	1	moreover	moreover	ADV
cblr-13858	2079	2	,	,	PUNCT
cblr-13858	2079	3	investment	investment	NOUN
cblr-13858	2079	4	expertise	expertise	NOUN
cblr-13858	2079	5	does	do	AUX
cblr-13858	2079	6	not	not	PART
cblr-13858	2079	7	necessarily	necessarily	ADV
cblr-13858	2079	8	translate	translate	VERB
cblr-13858	2079	9	into	into	ADP
cblr-13858	2079	10	success	success	NOUN
cblr-13858	2079	11	,	,	PUNCT
cblr-13858	2079	12	and	and	CCONJ
cblr-13858	2079	13	experts	expert	NOUN
cblr-13858	2079	14	often	often	ADV
cblr-13858	2079	15	make	make	VERB
cblr-13858	2079	16	extraordinarily	extraordinarily	ADV
cblr-13858	2079	17	poor	poor	ADJ
cblr-13858	2079	18	judgments.9	judgments.9	PROPN
cblr-13858	2079	19	6	6	NUM
cblr-13858	2079	20	one	one	NUM
cblr-13858	2079	21	of	of	ADP
cblr-13858	2079	22	the	the	DET
cblr-13858	2079	23	lessons	lesson	NOUN
cblr-13858	2079	24	of	of	ADP
cblr-13858	2079	25	crowdsourcing	crowdsourcing	NOUN
cblr-13858	2079	26	is	be	AUX
cblr-13858	2079	27	that	that	SCONJ
cblr-13858	2079	28	a	a	DET
cblr-13858	2079	29	diverse	diverse	ADJ
cblr-13858	2079	30	group	group	NOUN
cblr-13858	2079	31	of	of	ADP
cblr-13858	2079	32	less	less	ADJ
cblr-13858	2079	33	-	-	PUNCT
cblr-13858	2079	34	expert	expert	NOUN
cblr-13858	2079	35	decisionmakers	decisionmaker	NOUN
cblr-13858	2079	36	can	can	AUX
cblr-13858	2079	37	often	often	ADV
cblr-13858	2079	38	make	make	VERB
cblr-13858	2079	39	better	well	ADJ
cblr-13858	2079	40	choices	choice	NOUN
cblr-13858	2079	41	than	than	ADP
cblr-13858	2079	42	an	an	DET
cblr-13858	2079	43	expert	expert	NOUN
cblr-13858	2079	44	working	work	VERB
cblr-13858	2079	45	individually	individually	ADV
cblr-13858	2079	46	.	.	PUNCT
cblr-13858	2079	47	'	'	PUNCT
cblr-13858	2080	1	it	it	PRON
cblr-13858	2080	2	is	be	AUX
cblr-13858	2080	3	at	at	ADP
cblr-13858	2080	4	least	least	ADJ
cblr-13858	2080	5	possible	possible	ADJ
cblr-13858	2080	6	that	that	SCONJ
cblr-13858	2080	7	crowdfunding	crowdfunde	VERB
cblr-13858	2080	8	investors	investor	NOUN
cblr-13858	2080	9	will	will	AUX
cblr-13858	2080	10	do	do	VERB
cblr-13858	2080	11	a	a	DET
cblr-13858	2080	12	better	well	ADJ
cblr-13858	2080	13	job	job	NOUN
cblr-13858	2080	14	compared	compare	VERB
cblr-13858	2080	15	to	to	ADP
cblr-13858	2080	16	venture	venture	NOUN
cblr-13858	2080	17	capitalists	capitalist	NOUN
cblr-13858	2080	18	and	and	CCONJ
cblr-13858	2080	19	angel	angel	NOUN
cblr-13858	2080	20	investors	investor	NOUN
cblr-13858	2080	21	than	than	SCONJ
cblr-13858	2080	22	their	their	PRON
cblr-13858	2080	23	relative	relative	ADJ
cblr-13858	2080	24	lack	lack	NOUN
cblr-13858	2080	25	of	of	ADP
cblr-13858	2080	26	sophistication	sophistication	NOUN
cblr-13858	2080	27	would	would	AUX
cblr-13858	2080	28	predict	predict	VERB
cblr-13858	2080	29	.	.	PUNCT
cblr-13858	2080	30	'	'	PUNCT
cblr-13858	2081	1	additionally	additionally	ADV
cblr-13858	2081	2	,	,	PUNCT
cblr-13858	2081	3	unsophisticated	unsophisticated	ADJ
cblr-13858	2081	4	crowdfunding	crowdfunding	NOUN
cblr-13858	2081	5	investors	investor	NOUN
cblr-13858	2081	6	are	be	AUX
cblr-13858	2081	7	likely	likely	ADJ
cblr-13858	2081	8	to	to	PART
cblr-13858	2081	9	become	become	VERB
cblr-13858	2081	10	more	more	ADV
cblr-13858	2081	11	sophisticated	sophisticated	ADJ
cblr-13858	2081	12	over	over	ADP
cblr-13858	2081	13	time	time	NOUN
cblr-13858	2081	14	.	.	PUNCT
cblr-13858	2082	1	"	"	PUNCT
cblr-13858	2082	2	"	"	PUNCT
cblr-13858	2082	3	a	a	DET
cblr-13858	2082	4	study	study	NOUN
cblr-13858	2082	5	of	of	ADP
cblr-13858	2082	6	59	59	NUM
cblr-13858	2082	7	see	see	NOUN
cblr-13858	2082	8	surowiecki	surowiecki	ADJ
cblr-13858	2082	9	,	,	PUNCT
cblr-13858	2082	10	supra	supra	ADJ
cblr-13858	2082	11	note	note	NOUN
cblr-13858	2082	12	123	123	NUM
cblr-13858	2082	13	.	.	PUNCT
cblr-13858	2083	1	5	5	NUM
cblr-13858	2083	2	'	'	PUNCT
cblr-13858	2083	3	i	i	PRON
cblr-13858	2083	4	d.	d.	PROPN
cblr-13858	2083	5	at	at	ADP
cblr-13858	2083	6	xiii	xiii	PROPN
cblr-13858	2083	7	-	-	PUNCT
cblr-13858	2083	8	xiv	xiv	PROPN
cblr-13858	2083	9	.	.	PUNCT
cblr-13858	2083	10	.	.	PUNCT
cblr-13858	2083	11	'	'	PUNCT
cblr-13858	2084	1	see	see	VERB
cblr-13858	2084	2	howe	howe	NOUN
cblr-13858	2084	3	,	,	PUNCT
cblr-13858	2084	4	supra	supra	PROPN
cblr-13858	2084	5	note	note	NOUN
cblr-13858	2084	6	1	1	NUM
cblr-13858	2084	7	,	,	PUNCT
cblr-13858	2084	8	at	at	ADP
cblr-13858	2084	9	39	39	NUM
cblr-13858	2084	10	-	-	SYM
cblr-13858	2084	11	40	40	NUM
cblr-13858	2084	12	.	.	PUNCT
cblr-13858	2085	1	596	596	NUM
cblr-13858	2085	2	see	see	VERB
cblr-13858	2085	3	dan	dan	PROPN
cblr-13858	2085	4	gardner	gardner	PROPN
cblr-13858	2085	5	,	,	PUNCT
cblr-13858	2085	6	future	future	ADJ
cblr-13858	2085	7	babble	babble	NOUN
cblr-13858	2085	8	:	:	PUNCT
cblr-13858	2085	9	why	why	SCONJ
cblr-13858	2085	10	expert	expert	ADJ
cblr-13858	2085	11	predictions	prediction	NOUN
cblr-13858	2085	12	are	be	AUX
cblr-13858	2085	13	next	next	ADJ
cblr-13858	2085	14	to	to	ADP
cblr-13858	2085	15	worthless	worthless	ADJ
cblr-13858	2085	16	(	(	PUNCT
cblr-13858	2085	17	2011	2011	NUM
cblr-13858	2085	18	)	)	PUNCT
cblr-13858	2085	19	.	.	PUNCT
cblr-13858	2086	1	james	james	PROPN
cblr-13858	2086	2	surowiecki	surowiecki	PROPN
cblr-13858	2086	3	quotes	quote	VERB
cblr-13858	2086	4	wharton	wharton	PROPN
cblr-13858	2086	5	professor	professor	PROPN
cblr-13858	2086	6	j.	j.	PROPN
cblr-13858	2086	7	scott	scott	PROPN
cblr-13858	2086	8	armstrong	armstrong	PROPN
cblr-13858	2086	9	,	,	PUNCT
cblr-13858	2086	10	who	who	PRON
cblr-13858	2086	11	surveyed	survey	VERB
cblr-13858	2086	12	expert	expert	NOUN
cblr-13858	2086	13	forecasts	forecast	NOUN
cblr-13858	2086	14	and	and	CCONJ
cblr-13858	2086	15	analyses	analysis	NOUN
cblr-13858	2086	16	in	in	ADP
cblr-13858	2086	17	a	a	DET
cblr-13858	2086	18	number	number	NOUN
cblr-13858	2086	19	of	of	ADP
cblr-13858	2086	20	fields	field	NOUN
cblr-13858	2086	21	and	and	CCONJ
cblr-13858	2086	22	concluded	conclude	VERB
cblr-13858	2086	23	that	that	SCONJ
cblr-13858	2086	24	he	he	PRON
cblr-13858	2086	25	"	"	PUNCT
cblr-13858	2086	26	could	could	AUX
cblr-13858	2086	27	find	find	VERB
cblr-13858	2086	28	no	no	DET
cblr-13858	2086	29	studies	study	NOUN
cblr-13858	2086	30	that	that	PRON
cblr-13858	2086	31	showed	show	VERB
cblr-13858	2086	32	an	an	DET
cblr-13858	2086	33	important	important	ADJ
cblr-13858	2086	34	advantage	advantage	NOUN
cblr-13858	2086	35	for	for	ADP
cblr-13858	2086	36	expertise	expertise	NOUN
cblr-13858	2086	37	.	.	PUNCT
cblr-13858	2086	38	"	"	PUNCT
cblr-13858	2087	1	surowiecki	surowiecki	ADJ
cblr-13858	2087	2	,	,	PUNCT
cblr-13858	2087	3	supra	supra	ADJ
cblr-13858	2087	4	note	note	NOUN
cblr-13858	2087	5	123	123	NUM
cblr-13858	2087	6	,	,	PUNCT
cblr-13858	2087	7	at	at	ADP
cblr-13858	2087	8	33	33	NUM
cblr-13858	2087	9	.	.	PUNCT
cblr-13858	2087	10	..	..	PUNCT
cblr-13858	2088	1	see	see	VERB
cblr-13858	2088	2	howe	howe	NOUN
cblr-13858	2088	3	,	,	PUNCT
cblr-13858	2088	4	supra	supra	PROPN
cblr-13858	2088	5	note	note	NOUN
cblr-13858	2088	6	1	1	NUM
cblr-13858	2088	7	,	,	PUNCT
cblr-13858	2088	8	at	at	ADP
cblr-13858	2088	9	131	131	NUM
cblr-13858	2088	10	-	-	SYM
cblr-13858	2088	11	45	45	NUM
cblr-13858	2088	12	.	.	PUNCT
cblr-13858	2089	1	598	598	NUM
cblr-13858	2089	2	even	even	ADV
cblr-13858	2089	3	so	so	ADV
cblr-13858	2089	4	,	,	PUNCT
cblr-13858	2089	5	crowdfunding	crowdfunde	VERB
cblr-13858	2089	6	investors	investor	NOUN
cblr-13858	2089	7	may	may	AUX
cblr-13858	2089	8	not	not	PART
cblr-13858	2089	9	necessarily	necessarily	ADV
cblr-13858	2089	10	enjoy	enjoy	VERB
cblr-13858	2089	11	higher	high	ADJ
cblr-13858	2089	12	investment	investment	NOUN
cblr-13858	2089	13	returns	return	NOUN
cblr-13858	2089	14	.	.	PUNCT
cblr-13858	2090	1	venture	venture	NOUN
cblr-13858	2090	2	capital	capital	NOUN
cblr-13858	2090	3	funds	fund	NOUN
cblr-13858	2090	4	and	and	CCONJ
cblr-13858	2090	5	angel	angel	NOUN
cblr-13858	2090	6	investors	investor	NOUN
cblr-13858	2090	7	are	be	AUX
cblr-13858	2090	8	highly	highly	ADV
cblr-13858	2090	9	selective	selective	ADJ
cblr-13858	2090	10	,	,	PUNCT
cblr-13858	2090	11	and	and	CCONJ
cblr-13858	2090	12	venture	venture	NOUN
cblr-13858	2090	13	capitalists	capitalist	NOUN
cblr-13858	2090	14	especially	especially	ADV
cblr-13858	2090	15	tend	tend	VERB
cblr-13858	2090	16	to	to	PART
cblr-13858	2090	17	focus	focus	VERB
cblr-13858	2090	18	on	on	ADP
cblr-13858	2090	19	larger	large	ADJ
cblr-13858	2090	20	,	,	PUNCT
cblr-13858	2090	21	highgrowth	highgrowth	PROPN
cblr-13858	2090	22	companies	company	NOUN
cblr-13858	2090	23	that	that	PRON
cblr-13858	2090	24	are	be	AUX
cblr-13858	2090	25	past	past	ADP
cblr-13858	2090	26	the	the	DET
cblr-13858	2090	27	startup	startup	NOUN
cblr-13858	2090	28	phase	phase	NOUN
cblr-13858	2090	29	.	.	PUNCT
cblr-13858	2091	1	see	see	VERB
cblr-13858	2091	2	supra	supra	PROPN
cblr-13858	2091	3	part	part	NOUN
cblr-13858	2091	4	vi.a	vi.a	X
cblr-13858	2091	5	.	.	PUNCT
cblr-13858	2092	1	crowdfunding	crowdfunde	VERB
cblr-13858	2092	2	sites	site	NOUN
cblr-13858	2092	3	appeal	appeal	VERB
cblr-13858	2092	4	to	to	ADP
cblr-13858	2092	5	entrepreneurs	entrepreneur	NOUN
cblr-13858	2092	6	who	who	PRON
cblr-13858	2092	7	can	can	AUX
cblr-13858	2092	8	not	not	PART
cblr-13858	2092	9	otherwise	otherwise	ADV
cblr-13858	2092	10	obtain	obtain	VERB
cblr-13858	2092	11	adequate	adequate	ADJ
cblr-13858	2092	12	funds	fund	NOUN
cblr-13858	2092	13	-	-	PUNCT
cblr-13858	2092	14	those	those	PRON
cblr-13858	2092	15	,	,	PUNCT
cblr-13858	2092	16	in	in	ADP
cblr-13858	2092	17	other	other	ADJ
cblr-13858	2092	18	words	word	NOUN
cblr-13858	2092	19	,	,	PUNCT
cblr-13858	2092	20	who	who	PRON
cblr-13858	2092	21	could	could	AUX
cblr-13858	2092	22	not	not	PART
cblr-13858	2092	23	attract	attract	VERB
cblr-13858	2092	24	funding	funding	NOUN
cblr-13858	2092	25	from	from	ADP
cblr-13858	2092	26	venture	venture	NOUN
cblr-13858	2092	27	capitalists	capitalist	NOUN
cblr-13858	2092	28	and	and	CCONJ
cblr-13858	2092	29	angel	angel	NOUN
cblr-13858	2092	30	investors	investor	NOUN
cblr-13858	2092	31	.	.	PUNCT
cblr-13858	2093	1	even	even	ADV
cblr-13858	2093	2	if	if	SCONJ
cblr-13858	2093	3	crowdfunding	crowdfunde	VERB
cblr-13858	2093	4	investors	investor	NOUN
cblr-13858	2093	5	are	be	AUX
cblr-13858	2093	6	better	well	ADJ
cblr-13858	2093	7	at	at	ADP
cblr-13858	2093	8	discriminating	discriminate	VERB
cblr-13858	2093	9	among	among	ADP
cblr-13858	2093	10	available	available	ADJ
cblr-13858	2093	11	investments	investment	NOUN
cblr-13858	2093	12	,	,	PUNCT
cblr-13858	2093	13	they	they	PRON
cblr-13858	2093	14	are	be	AUX
cblr-13858	2093	15	picking	pick	VERB
cblr-13858	2093	16	from	from	ADP
cblr-13858	2093	17	a	a	DET
cblr-13858	2093	18	different	different	ADJ
cblr-13858	2093	19	,	,	PUNCT
cblr-13858	2093	20	more	more	ADV
cblr-13858	2093	21	risky	risky	ADJ
cblr-13858	2093	22	pool	pool	NOUN
cblr-13858	2093	23	than	than	ADP
cblr-13858	2093	24	venture	venture	NOUN
cblr-13858	2093	25	capitalists	capitalist	NOUN
cblr-13858	2093	26	and	and	CCONJ
cblr-13858	2093	27	angel	angel	NOUN
cblr-13858	2093	28	investors	investor	NOUN
cblr-13858	2093	29	.	.	PUNCT
cblr-13858	2094	1	"	"	PUNCT
cblr-13858	2094	2	.	.	PUNCT
cblr-13858	2095	1	see	see	VERB
cblr-13858	2095	2	seth	seth	PROPN
cblr-13858	2095	3	freedman	freedman	PROPN
cblr-13858	2095	4	&	&	CCONJ
cblr-13858	2095	5	ginger	ginger	PROPN
cblr-13858	2095	6	zhe	zhe	PROPN
cblr-13858	2095	7	jin	jin	PROPN
cblr-13858	2095	8	,	,	PUNCT
cblr-13858	2095	9	do	do	AUX
cblr-13858	2095	10	social	social	ADJ
cblr-13858	2095	11	networks	network	NOUN
cblr-13858	2095	12	solve	solve	VERB
cblr-13858	2095	13	information	information	NOUN
cblr-13858	2095	14	problems	problem	NOUN
cblr-13858	2095	15	for	for	ADP
cblr-13858	2095	16	peer	peer	NOUN
cblr-13858	2095	17	-	-	PUNCT
cblr-13858	2095	18	to	to	ADP
cblr-13858	2095	19	-	-	PUNCT
cblr-13858	2095	20	peer	peer	NOUN
cblr-13858	2095	21	lending	lending	NOUN
cblr-13858	2095	22	?	?	PUNCT
cblr-13858	2096	1	evidence	evidence	NOUN
cblr-13858	2096	2	from	from	ADP
cblr-13858	2096	3	prosper.com	prosper.com	X
cblr-13858	2096	4	3	3	NUM
cblr-13858	2096	5	(	(	PUNCT
cblr-13858	2096	6	net	net	ADJ
cblr-13858	2096	7	inst	inst	PROPN
cblr-13858	2096	8	.	.	PROPN
cblr-13858	2096	9	,	,	PUNCT
cblr-13858	2096	10	working	work	VERB
cblr-13858	2096	11	paper	paper	NOUN
cblr-13858	2096	12	no	no	INTJ
cblr-13858	2096	13	.	.	PROPN
cblr-13858	2096	14	08	08	NUM
cblr-13858	2096	15	-	-	SYM
cblr-13858	2096	16	43	43	NUM
cblr-13858	2096	17	,	,	PUNCT
cblr-13858	2096	18	2008	2008	NUM
cblr-13858	2096	19	)	)	PUNCT
cblr-13858	2096	20	,	,	PUNCT
cblr-13858	2096	21	available	available	ADJ
cblr-13858	2096	22	at	at	ADP
cblr-13858	2096	23	http://ssrn.com/abstract=1304138	http://ssrn.com/abstract=1304138	NOUN
cblr-13858	2096	24	(	(	PUNCT
cblr-13858	2096	25	"	"	PUNCT
cblr-13858	2096	26	[	[	X
cblr-13858	2096	27	miany	miany	ADJ
cblr-13858	2096	28	prosper	prosper	NOUN
cblr-13858	2096	29	lenders	lender	NOUN
cblr-13858	2096	30	make	make	VERB
cblr-13858	2096	31	mistakes	mistake	NOUN
cblr-13858	2096	32	114	114	NUM
cblr-13858	2096	33	[	[	X
cblr-13858	2096	34	vol	vol	NOUN
cblr-13858	2096	35	.	.	PUNCT
cblr-13858	2096	36	2012	2012	NUM
cblr-13858	2096	37	cro	cro	NOUN
cblr-13858	2096	38	wdfunding	wdfunding	NOUN
cblr-13858	2096	39	and	and	CCONJ
cblr-13858	2096	40	securities	security	NOUN
cblr-13858	2096	41	laws	law	NOUN
cblr-13858	2096	42	lenders	lender	NOUN
cblr-13858	2096	43	on	on	ADP
cblr-13858	2096	44	prosper.com	prosper.com	NOUN
cblr-13858	2096	45	found	find	VERB
cblr-13858	2096	46	that	that	SCONJ
cblr-13858	2096	47	,	,	PUNCT
cblr-13858	2096	48	over	over	ADP
cblr-13858	2096	49	the	the	DET
cblr-13858	2096	50	two	two	NUM
cblr-13858	2096	51	-	-	PUNCT
cblr-13858	2096	52	year	year	NOUN
cblr-13858	2096	53	period	period	NOUN
cblr-13858	2096	54	studied	study	VERB
cblr-13858	2096	55	,	,	PUNCT
cblr-13858	2096	56	lenders	lender	NOUN
cblr-13858	2096	57	moved	move	VERB
cblr-13858	2096	58	from	from	ADP
cblr-13858	2096	59	lower	lower	ADV
cblr-13858	2096	60	-	-	PUNCT
cblr-13858	2096	61	performing	perform	VERB
cblr-13858	2096	62	loans	loan	NOUN
cblr-13858	2096	63	to	to	ADP
cblr-13858	2096	64	loans	loan	NOUN
cblr-13858	2096	65	with	with	ADP
cblr-13858	2096	66	a	a	DET
cblr-13858	2096	67	higher	high	ADJ
cblr-13858	2096	68	rate	rate	NOUN
cblr-13858	2096	69	of	of	ADP
cblr-13858	2096	70	return.60	return.60	PROPN
cblr-13858	2096	71	0	0	PUNCT
cblr-13858	2096	72	however	however	ADV
cblr-13858	2096	73	,	,	PUNCT
cblr-13858	2096	74	crowdfunding	crowdfunding	NOUN
cblr-13858	2096	75	is	be	AUX
cblr-13858	2096	76	still	still	ADV
cblr-13858	2096	77	relatively	relatively	ADV
cblr-13858	2096	78	young	young	ADJ
cblr-13858	2096	79	and	and	CCONJ
cblr-13858	2096	80	has	have	AUX
cblr-13858	2096	81	not	not	PART
cblr-13858	2096	82	been	be	AUX
cblr-13858	2096	83	exhaustively	exhaustively	ADV
cblr-13858	2096	84	studied	study	VERB
cblr-13858	2096	85	.	.	PUNCT
cblr-13858	2097	1	only	only	ADV
cblr-13858	2097	2	more	more	ADJ
cblr-13858	2097	3	experience	experience	NOUN
cblr-13858	2097	4	will	will	AUX
cblr-13858	2097	5	demonstrate	demonstrate	VERB
cblr-13858	2097	6	its	its	PRON
cblr-13858	2097	7	success	success	NOUN
cblr-13858	2097	8	in	in	ADP
cblr-13858	2097	9	protecting	protect	VERB
cblr-13858	2097	10	investors	investor	NOUN
cblr-13858	2097	11	from	from	ADP
cblr-13858	2097	12	risk	risk	NOUN
cblr-13858	2097	13	.	.	PUNCT
cblr-13858	2098	1	critics	critic	NOUN
cblr-13858	2098	2	have	have	AUX
cblr-13858	2098	3	argued	argue	VERB
cblr-13858	2098	4	that	that	SCONJ
cblr-13858	2098	5	a	a	DET
cblr-13858	2098	6	crowdfunding	crowdfunding	NOUN
cblr-13858	2098	7	exemption	exemption	NOUN
cblr-13858	2098	8	will	will	AUX
cblr-13858	2098	9	result	result	VERB
cblr-13858	2098	10	in	in	ADP
cblr-13858	2098	11	increased	increase	VERB
cblr-13858	2098	12	fraud	fraud	NOUN
cblr-13858	2098	13	and	and	CCONJ
cblr-13858	2098	14	investor	investor	NOUN
cblr-13858	2098	15	losses.60	losses.60	NOUN
cblr-13858	2098	16	1	1	NUM
cblr-13858	2098	17	this	this	DET
cblr-13858	2098	18	argument	argument	NOUN
cblr-13858	2098	19	is	be	AUX
cblr-13858	2098	20	overstated	overstate	VERB
cblr-13858	2098	21	.	.	PUNCT
cblr-13858	2099	1	it	it	PRON
cblr-13858	2099	2	supposes	suppose	VERB
cblr-13858	2099	3	a	a	DET
cblr-13858	2099	4	horde	horde	NOUN
cblr-13858	2099	5	of	of	ADP
cblr-13858	2099	6	bicephalous	bicephalous	ADJ
cblr-13858	2099	7	con	con	NOUN
cblr-13858	2099	8	men	man	NOUN
cblr-13858	2099	9	eager	eager	ADJ
cblr-13858	2099	10	to	to	PART
cblr-13858	2099	11	violate	violate	VERB
cblr-13858	2099	12	the	the	DET
cblr-13858	2099	13	antifraud	antifraud	PROPN
cblr-13858	2099	14	rules	rule	NOUN
cblr-13858	2099	15	but	but	CCONJ
cblr-13858	2099	16	unwilling	unwilling	ADJ
cblr-13858	2099	17	to	to	PART
cblr-13858	2099	18	violate	violate	VERB
cblr-13858	2099	19	the	the	DET
cblr-13858	2099	20	offering	offering	NOUN
cblr-13858	2099	21	registration	registration	NOUN
cblr-13858	2099	22	requirements	requirement	NOUN
cblr-13858	2099	23	.	.	PUNCT
cblr-13858	2100	1	it	it	PRON
cblr-13858	2100	2	is	be	AUX
cblr-13858	2100	3	unlikely	unlikely	ADJ
cblr-13858	2100	4	that	that	SCONJ
cblr-13858	2100	5	fraudsters	fraudster	NOUN
cblr-13858	2100	6	are	be	AUX
cblr-13858	2100	7	so	so	ADV
cblr-13858	2100	8	selective	selective	ADJ
cblr-13858	2100	9	in	in	ADP
cblr-13858	2100	10	their	their	PRON
cblr-13858	2100	11	willingness	willingness	NOUN
cblr-13858	2100	12	to	to	PART
cblr-13858	2100	13	violate	violate	VERB
cblr-13858	2100	14	the	the	DET
cblr-13858	2100	15	law	law	NOUN
cblr-13858	2100	16	.	.	PUNCT
cblr-13858	2101	1	nevertheless	nevertheless	ADV
cblr-13858	2101	2	,	,	PUNCT
cblr-13858	2101	3	the	the	DET
cblr-13858	2101	4	argument	argument	NOUN
cblr-13858	2101	5	that	that	SCONJ
cblr-13858	2101	6	fraud	fraud	NOUN
cblr-13858	2101	7	and	and	CCONJ
cblr-13858	2101	8	investors	investor	NOUN
cblr-13858	2101	9	'	'	PART
cblr-13858	2101	10	losses	loss	NOUN
cblr-13858	2101	11	will	will	AUX
cblr-13858	2101	12	increase	increase	VERB
cblr-13858	2101	13	is	be	AUX
cblr-13858	2101	14	surely	surely	ADV
cblr-13858	2101	15	correct	correct	ADJ
cblr-13858	2101	16	.	.	PUNCT
cblr-13858	2102	1	the	the	DET
cblr-13858	2102	2	investors	investor	NOUN
cblr-13858	2102	3	on	on	ADP
cblr-13858	2102	4	crowdfunding	crowdfunding	NOUN
cblr-13858	2102	5	sites	site	NOUN
cblr-13858	2102	6	,	,	PUNCT
cblr-13858	2102	7	like	like	ADP
cblr-13858	2102	8	other	other	ADJ
cblr-13858	2102	9	small	small	ADJ
cblr-13858	2102	10	-	-	PUNCT
cblr-13858	2102	11	business	business	NOUN
cblr-13858	2102	12	investors	investor	NOUN
cblr-13858	2102	13	,	,	PUNCT
cblr-13858	2102	14	will	will	AUX
cblr-13858	2102	15	suffer	suffer	VERB
cblr-13858	2102	16	significant	significant	ADJ
cblr-13858	2102	17	losses	loss	NOUN
cblr-13858	2102	18	.	.	PUNCT
cblr-13858	2103	1	'0	'0	NUM
cblr-13858	2103	2	fraudsters	fraudster	NOUN
cblr-13858	2103	3	will	will	AUX
cblr-13858	2103	4	use	use	VERB
cblr-13858	2103	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2103	6	sites	site	NOUN
cblr-13858	2103	7	to	to	PART
cblr-13858	2103	8	deceive	deceive	VERB
cblr-13858	2103	9	investors	investor	NOUN
cblr-13858	2103	10	and	and	CCONJ
cblr-13858	2103	11	take	take	VERB
cblr-13858	2103	12	their	their	PRON
cblr-13858	2103	13	money	money	NOUN
cblr-13858	2103	14	.	.	PUNCT
cblr-13858	2104	1	entrepreneurs	entrepreneur	NOUN
cblr-13858	2104	2	will	will	AUX
cblr-13858	2104	3	take	take	VERB
cblr-13858	2104	4	advantage	advantage	NOUN
cblr-13858	2104	5	of	of	ADP
cblr-13858	2104	6	their	their	PRON
cblr-13858	2104	7	control	control	NOUN
cblr-13858	2104	8	to	to	PART
cblr-13858	2104	9	benefit	benefit	VERB
cblr-13858	2104	10	themselves	themselves	PRON
cblr-13858	2104	11	at	at	ADP
cblr-13858	2104	12	the	the	DET
cblr-13858	2104	13	expense	expense	NOUN
cblr-13858	2104	14	of	of	ADP
cblr-13858	2104	15	outside	outside	ADJ
cblr-13858	2104	16	investors	investor	NOUN
cblr-13858	2104	17	.	.	PUNCT
cblr-13858	2105	1	unsophisticated	unsophisticated	ADJ
cblr-13858	2105	2	investors	investor	NOUN
cblr-13858	2105	3	will	will	AUX
cblr-13858	2105	4	make	make	VERB
cblr-13858	2105	5	ill	ill	ADV
cblr-13858	2105	6	-	-	PUNCT
cblr-13858	2105	7	advised	advise	VERB
cblr-13858	2105	8	investments	investment	NOUN
cblr-13858	2105	9	.	.	PUNCT
cblr-13858	2106	1	but	but	CCONJ
cblr-13858	2106	2	the	the	DET
cblr-13858	2106	3	argument	argument	NOUN
cblr-13858	2106	4	that	that	SCONJ
cblr-13858	2106	5	fraud	fraud	NOUN
cblr-13858	2106	6	and	and	CCONJ
cblr-13858	2106	7	investor	investor	NOUN
cblr-13858	2106	8	losses	loss	NOUN
cblr-13858	2106	9	will	will	AUX
cblr-13858	2106	10	increase	increase	VERB
cblr-13858	2106	11	is	be	AUX
cblr-13858	2106	12	trivial	trivial	ADJ
cblr-13858	2106	13	.	.	PUNCT
cblr-13858	2107	1	more	more	ADJ
cblr-13858	2107	2	securities	security	NOUN
cblr-13858	2107	3	offerings	offering	NOUN
cblr-13858	2107	4	of	of	ADP
cblr-13858	2107	5	any	any	DET
cblr-13858	2107	6	kindwhether	kindwhether	NOUN
cblr-13858	2107	7	those	those	DET
cblr-13858	2107	8	offerings	offering	NOUN
cblr-13858	2107	9	are	be	AUX
cblr-13858	2107	10	registered	register	VERB
cblr-13858	2107	11	,	,	PUNCT
cblr-13858	2107	12	pursuant	pursuant	ADJ
cblr-13858	2107	13	to	to	ADP
cblr-13858	2107	14	a	a	DET
cblr-13858	2107	15	crowdfunding	crowdfunding	NOUN
cblr-13858	2107	16	exemption	exemption	NOUN
cblr-13858	2107	17	,	,	PUNCT
cblr-13858	2107	18	or	or	CCONJ
cblr-13858	2107	19	pursuant	pursuant	ADJ
cblr-13858	2107	20	to	to	ADP
cblr-13858	2107	21	some	some	DET
cblr-13858	2107	22	other	other	ADJ
cblr-13858	2107	23	exemption	exemption	NOUN
cblr-13858	2107	24	-	-	PUNCT
cblr-13858	2107	25	are	be	AUX
cblr-13858	2107	26	going	go	VERB
cblr-13858	2107	27	to	to	PART
cblr-13858	2107	28	result	result	VERB
cblr-13858	2107	29	in	in	ADP
cblr-13858	2107	30	more	more	ADJ
cblr-13858	2107	31	fraud	fraud	NOUN
cblr-13858	2107	32	and	and	CCONJ
cblr-13858	2107	33	greater	great	ADJ
cblr-13858	2107	34	in	in	ADP
cblr-13858	2107	35	loan	loan	NOUN
cblr-13858	2107	36	selection	selection	NOUN
cblr-13858	2107	37	and	and	CCONJ
cblr-13858	2107	38	therefore	therefore	ADV
cblr-13858	2107	39	have	have	VERB
cblr-13858	2107	40	a	a	DET
cblr-13858	2107	41	negative	negative	ADJ
cblr-13858	2107	42	rate	rate	NOUN
cblr-13858	2107	43	of	of	ADP
cblr-13858	2107	44	return	return	NOUN
cblr-13858	2107	45	on	on	ADP
cblr-13858	2107	46	their	their	PRON
cblr-13858	2107	47	portfolios	portfolio	NOUN
cblr-13858	2107	48	,	,	PUNCT
cblr-13858	2107	49	but	but	CCONJ
cblr-13858	2107	50	they	they	PRON
cblr-13858	2107	51	learn	learn	VERB
cblr-13858	2107	52	vigorously	vigorously	ADV
cblr-13858	2107	53	and	and	CCONJ
cblr-13858	2107	54	the	the	DET
cblr-13858	2107	55	learning	learning	NOUN
cblr-13858	2107	56	speeds	speed	VERB
cblr-13858	2107	57	up	up	ADP
cblr-13858	2107	58	over	over	ADP
cblr-13858	2107	59	time	time	NOUN
cblr-13858	2107	60	.	.	PUNCT
cblr-13858	2107	61	"	"	PUNCT
cblr-13858	2107	62	)	)	PUNCT
cblr-13858	2107	63	.	.	PUNCT
cblr-13858	2107	64	00	00	NUM
cblr-13858	2108	1	freedman	freedman	PROPN
cblr-13858	2108	2	&	&	CCONJ
cblr-13858	2108	3	jin	jin	PROPN
cblr-13858	2108	4	,	,	PUNCT
cblr-13858	2108	5	supra	supra	PROPN
cblr-13858	2108	6	note	note	NOUN
cblr-13858	2108	7	599	599	NUM
cblr-13858	2108	8	,	,	PUNCT
cblr-13858	2108	9	at	at	ADP
cblr-13858	2108	10	25	25	NUM
cblr-13858	2108	11	.	.	PUNCT
cblr-13858	2108	12	601	601	NUM
cblr-13858	2108	13	see	see	VERB
cblr-13858	2108	14	,	,	PUNCT
cblr-13858	2108	15	e.g.	e.g.	ADV
cblr-13858	2108	16	,	,	PUNCT
cblr-13858	2108	17	jay	jay	PROPN
cblr-13858	2108	18	hancock	hancock	PROPN
cblr-13858	2108	19	,	,	PUNCT
cblr-13858	2108	20	businesses	business	NOUN
cblr-13858	2108	21	also	also	ADV
cblr-13858	2108	22	seek	seek	VERB
cblr-13858	2108	23	"	"	PUNCT
cblr-13858	2108	24	crowdfunding	crowdfunde	VERB
cblr-13858	2108	25	,	,	PUNCT
cblr-13858	2108	26	"	"	PUNCT
cblr-13858	2108	27	so	so	ADV
cblr-13858	2108	28	watch	watch	VERB
cblr-13858	2108	29	out	out	ADP
cblr-13858	2108	30	,	,	PUNCT
cblr-13858	2108	31	balt	balt	NOUN
cblr-13858	2108	32	.	.	PUNCT
cblr-13858	2109	1	sun	sun	PROPN
cblr-13858	2109	2	,	,	PUNCT
cblr-13858	2109	3	nov	nov	PROPN
cblr-13858	2109	4	.	.	PROPN
cblr-13858	2109	5	14	14	NUM
cblr-13858	2109	6	,	,	PUNCT
cblr-13858	2109	7	2011	2011	NUM
cblr-13858	2109	8	,	,	PUNCT
cblr-13858	2109	9	available	available	ADJ
cblr-13858	2109	10	at	at	ADP
cblr-13858	2109	11	http://articles.baltimore	http://articles.baltimore	NOUN
cblr-13858	2109	12	sun.com/2011-11-14/business/bs-bz-hancock-crowdfunding-danger-2011111	sun.com/2011-11-14/business/bs-bz-hancock-crowdfunding-danger-2011111	NOUN
cblr-13858	2109	13	2_1small	2_1small	NUM
cblr-13858	2109	14	-	-	PUNCT
cblr-13858	2109	15	business	business	NOUN
cblr-13858	2109	16	-	-	PUNCT
cblr-13858	2109	17	crowdfunding	crowdfunding	NOUN
cblr-13858	2109	18	-	-	PUNCT
cblr-13858	2109	19	business	business	NOUN
cblr-13858	2109	20	-	-	PUNCT
cblr-13858	2109	21	plan	plan	NOUN
cblr-13858	2109	22	;	;	PUNCT
cblr-13858	2109	23	thomas	thomas	PROPN
cblr-13858	2109	24	lee	lee	PROPN
cblr-13858	2109	25	hazen	hazen	PROPN
cblr-13858	2109	26	,	,	PUNCT
cblr-13858	2109	27	crowdfunding	crowdfunding	NOUN
cblr-13858	2109	28	or	or	CCONJ
cblr-13858	2109	29	fraudfunding	fraudfunde	VERB
cblr-13858	2109	30	?	?	PUNCT
cblr-13858	2110	1	social	social	ADJ
cblr-13858	2110	2	networks	network	NOUN
cblr-13858	2110	3	and	and	CCONJ
cblr-13858	2110	4	the	the	DET
cblr-13858	2110	5	securities	security	NOUN
cblr-13858	2110	6	laws	law	NOUN
cblr-13858	2110	7	-	-	PUNCT
cblr-13858	2110	8	why	why	SCONJ
cblr-13858	2110	9	any	any	DET
cblr-13858	2110	10	specially	specially	ADV
cblr-13858	2110	11	tailored	tailor	VERB
cblr-13858	2110	12	exemption	exemption	NOUN
cblr-13858	2110	13	should	should	AUX
cblr-13858	2110	14	be	be	AUX
cblr-13858	2110	15	conditioned	condition	VERB
cblr-13858	2110	16	on	on	ADP
cblr-13858	2110	17	meaningful	meaningful	ADJ
cblr-13858	2110	18	disclosure	disclosure	NOUN
cblr-13858	2110	19	,	,	PUNCT
cblr-13858	2110	20	n.c	n.c	PROPN
cblr-13858	2110	21	.	.	PROPN
cblr-13858	2110	22	l.	l.	PROPN
cblr-13858	2110	23	rev	rev	PROPN
cblr-13858	2110	24	.	.	PUNCT
cblr-13858	2111	1	(	(	PUNCT
cblr-13858	2111	2	forthcoming	forthcoming	ADJ
cblr-13858	2111	3	2012	2012	NUM
cblr-13858	2111	4	)	)	PUNCT
cblr-13858	2111	5	(	(	PUNCT
cblr-13858	2111	6	manuscript	manuscript	NOUN
cblr-13858	2111	7	at	at	ADP
cblr-13858	2111	8	1822	1822	NUM
cblr-13858	2111	9	)	)	PUNCT
cblr-13858	2111	10	,	,	PUNCT
cblr-13858	2111	11	available	available	ADJ
cblr-13858	2111	12	at	at	ADP
cblr-13858	2111	13	http://ssrn.com/abstract=1954040	http://ssrn.com/abstract=1954040	NOUN
cblr-13858	2111	14	.	.	PROPN
cblr-13858	2112	1	602	602	NUM
cblr-13858	2112	2	see	see	VERB
cblr-13858	2112	3	lawton	lawton	PROPN
cblr-13858	2112	4	&	&	CCONJ
cblr-13858	2112	5	marom	marom	PROPN
cblr-13858	2112	6	,	,	PUNCT
cblr-13858	2112	7	supra	supra	ADJ
cblr-13858	2112	8	note	note	NOUN
cblr-13858	2112	9	2	2	NUM
cblr-13858	2112	10	,	,	PUNCT
cblr-13858	2112	11	at	at	ADP
cblr-13858	2112	12	180	180	NUM
cblr-13858	2112	13	(	(	PUNCT
cblr-13858	2112	14	finding	find	VERB
cblr-13858	2112	15	that	that	SCONJ
cblr-13858	2112	16	numerous	numerous	ADJ
cblr-13858	2112	17	losses	loss	NOUN
cblr-13858	2112	18	will	will	AUX
cblr-13858	2112	19	occur	occur	VERB
cblr-13858	2112	20	,	,	PUNCT
cblr-13858	2112	21	either	either	CCONJ
cblr-13858	2112	22	through	through	ADP
cblr-13858	2112	23	fraud	fraud	NOUN
cblr-13858	2112	24	,	,	PUNCT
cblr-13858	2112	25	or	or	CCONJ
cblr-13858	2112	26	,	,	PUNCT
cblr-13858	2112	27	more	more	ADV
cblr-13858	2112	28	likely	likely	ADJ
cblr-13858	2112	29	,	,	PUNCT
cblr-13858	2112	30	business	business	NOUN
cblr-13858	2112	31	failure	failure	NOUN
cblr-13858	2112	32	)	)	PUNCT
cblr-13858	2112	33	.	.	PUNCT
cblr-13858	2113	1	no	no	INTJ
cblr-13858	2113	2	.	.	NOUN
cblr-13858	2114	1	1	1	NUM
cblr-13858	2114	2	:	:	SYM
cblr-13858	2114	3	1	1	NUM
cblr-13858	2114	4	]	]	SYM
cblr-13858	2114	5	115	115	NUM
cblr-13858	2114	6	investor	investor	NOUN
cblr-13858	2114	7	losses	loss	NOUN
cblr-13858	2114	8	.	.	PUNCT
cblr-13858	2115	1	the	the	DET
cblr-13858	2115	2	real	real	ADJ
cblr-13858	2115	3	question	question	NOUN
cblr-13858	2115	4	is	be	AUX
cblr-13858	2115	5	whether	whether	SCONJ
cblr-13858	2115	6	the	the	DET
cblr-13858	2115	7	benefits	benefit	NOUN
cblr-13858	2115	8	of	of	ADP
cblr-13858	2115	9	a	a	DET
cblr-13858	2115	10	crowdfunding	crowdfunding	NOUN
cblr-13858	2115	11	exemption	exemption	NOUN
cblr-13858	2115	12	outweigh	outweigh	VERB
cblr-13858	2115	13	these	these	DET
cblr-13858	2115	14	costs	cost	NOUN
cblr-13858	2115	15	.	.	PUNCT
cblr-13858	2116	1	the	the	DET
cblr-13858	2116	2	structural	structural	ADJ
cblr-13858	2116	3	features	feature	NOUN
cblr-13858	2116	4	mentioned	mention	VERB
cblr-13858	2116	5	above	above	ADV
cblr-13858	2116	6	and	and	CCONJ
cblr-13858	2116	7	the	the	DET
cblr-13858	2116	8	presence	presence	NOUN
cblr-13858	2116	9	of	of	ADP
cblr-13858	2116	10	a	a	DET
cblr-13858	2116	11	neutral	neutral	ADJ
cblr-13858	2116	12	intermediary	intermediary	NOUN
cblr-13858	2116	13	will	will	AUX
cblr-13858	2116	14	help	help	VERB
cblr-13858	2116	15	reduce	reduce	VERB
cblr-13858	2116	16	the	the	DET
cblr-13858	2116	17	risk	risk	NOUN
cblr-13858	2116	18	to	to	ADP
cblr-13858	2116	19	investors	investor	NOUN
cblr-13858	2116	20	.	.	PUNCT
cblr-13858	2117	1	in	in	ADP
cblr-13858	2117	2	addition	addition	NOUN
cblr-13858	2117	3	,	,	PUNCT
cblr-13858	2117	4	each	each	PRON
cblr-13858	2117	5	of	of	ADP
cblr-13858	2117	6	the	the	DET
cblr-13858	2117	7	proposed	propose	VERB
cblr-13858	2117	8	exemptions	exemption	NOUN
cblr-13858	2117	9	limits	limit	VERB
cblr-13858	2117	10	the	the	DET
cblr-13858	2117	11	maximum	maximum	ADJ
cblr-13858	2117	12	amount	amount	NOUN
cblr-13858	2117	13	a	a	DET
cblr-13858	2117	14	single	single	ADJ
cblr-13858	2117	15	investor	investor	NOUN
cblr-13858	2117	16	may	may	AUX
cblr-13858	2117	17	contribute	contribute	VERB
cblr-13858	2117	18	and	and	CCONJ
cblr-13858	2117	19	therefore	therefore	ADV
cblr-13858	2117	20	limits	limit	VERB
cblr-13858	2117	21	each	each	DET
cblr-13858	2117	22	investor	investor	NOUN
cblr-13858	2117	23	's	's	PART
cblr-13858	2117	24	possible	possible	ADJ
cblr-13858	2117	25	loss	loss	NOUN
cblr-13858	2117	26	.	.	PUNCT
cblr-13858	2117	27	'	'	PUNCT
cblr-13858	2118	1	such	such	ADJ
cblr-13858	2118	2	limits	limit	NOUN
cblr-13858	2118	3	ensure	ensure	VERB
cblr-13858	2118	4	that	that	SCONJ
cblr-13858	2118	5	even	even	ADV
cblr-13858	2118	6	if	if	SCONJ
cblr-13858	2118	7	investors	investor	NOUN
cblr-13858	2118	8	do	do	AUX
cblr-13858	2118	9	lose	lose	VERB
cblr-13858	2118	10	money	money	NOUN
cblr-13858	2118	11	,	,	PUNCT
cblr-13858	2118	12	those	those	DET
cblr-13858	2118	13	losses	loss	NOUN
cblr-13858	2118	14	are	be	AUX
cblr-13858	2118	15	unlikely	unlikely	ADJ
cblr-13858	2118	16	to	to	PART
cblr-13858	2118	17	be	be	AUX
cblr-13858	2118	18	catastrophic	catastrophic	ADJ
cblr-13858	2118	19	.	.	PUNCT
cblr-13858	2119	1	investors	investor	NOUN
cblr-13858	2119	2	are	be	AUX
cblr-13858	2119	3	already	already	ADV
cblr-13858	2119	4	investing	invest	VERB
cblr-13858	2119	5	substantial	substantial	ADJ
cblr-13858	2119	6	amounts	amount	NOUN
cblr-13858	2119	7	in	in	ADP
cblr-13858	2119	8	non	non	ADJ
cblr-13858	2119	9	-	-	ADJ
cblr-13858	2119	10	securities	security	NOUN
cblr-13858	2119	11	crowdfunding	crowdfunding	NOUN
cblr-13858	2119	12	.	.	PUNCT
cblr-13858	2120	1	those	those	DET
cblr-13858	2120	2	investments	investment	NOUN
cblr-13858	2120	3	are	be	AUX
cblr-13858	2120	4	as	as	ADV
cblr-13858	2120	5	risky	risky	ADJ
cblr-13858	2120	6	as	as	ADP
cblr-13858	2120	7	securities	security	NOUN
cblr-13858	2120	8	crowdfunding	crowdfunding	NOUN
cblr-13858	2120	9	.	.	PUNCT
cblr-13858	2121	1	people	people	NOUN
cblr-13858	2121	2	who	who	PRON
cblr-13858	2121	3	make	make	VERB
cblr-13858	2121	4	pure	pure	ADJ
cblr-13858	2121	5	donations	donation	NOUN
cblr-13858	2121	6	to	to	ADP
cblr-13858	2121	7	entrepreneurs	entrepreneur	NOUN
cblr-13858	2121	8	are	be	AUX
cblr-13858	2121	9	guaranteed	guarantee	VERB
cblr-13858	2121	10	to	to	PART
cblr-13858	2121	11	"	"	PUNCT
cblr-13858	2121	12	lose	lose	VERB
cblr-13858	2121	13	"	"	PUNCT
cblr-13858	2121	14	all	all	PRON
cblr-13858	2121	15	of	of	ADP
cblr-13858	2121	16	their	their	PRON
cblr-13858	2121	17	money	money	NOUN
cblr-13858	2121	18	and	and	CCONJ
cblr-13858	2121	19	receive	receive	VERB
cblr-13858	2121	20	nothing	nothing	PRON
cblr-13858	2121	21	in	in	ADP
cblr-13858	2121	22	return	return	NOUN
cblr-13858	2121	23	.	.	PUNCT
cblr-13858	2122	1	people	people	NOUN
cblr-13858	2122	2	who	who	PRON
cblr-13858	2122	3	contribute	contribute	VERB
cblr-13858	2122	4	to	to	ADP
cblr-13858	2122	5	crowdfunding	crowdfunde	VERB
cblr-13858	2122	6	appeals	appeal	NOUN
cblr-13858	2122	7	in	in	ADP
cblr-13858	2122	8	return	return	NOUN
cblr-13858	2122	9	for	for	ADP
cblr-13858	2122	10	small	small	ADJ
cblr-13858	2122	11	rewards	reward	NOUN
cblr-13858	2122	12	or	or	CCONJ
cblr-13858	2122	13	to	to	AUX
cblr-13858	2122	14	pre	pre	VERB
cblr-13858	2122	15	-	-	VERB
cblr-13858	2122	16	purchase	purchase	VERB
cblr-13858	2122	17	a	a	DET
cblr-13858	2122	18	product	product	NOUN
cblr-13858	2122	19	might	might	AUX
cblr-13858	2122	20	never	never	ADV
cblr-13858	2122	21	receive	receive	VERB
cblr-13858	2122	22	the	the	DET
cblr-13858	2122	23	promised	promise	VERB
cblr-13858	2122	24	reward	reward	NOUN
cblr-13858	2122	25	,	,	PUNCT
cblr-13858	2122	26	or	or	CCONJ
cblr-13858	2122	27	the	the	DET
cblr-13858	2122	28	reward	reward	NOUN
cblr-13858	2122	29	or	or	CCONJ
cblr-13858	2122	30	product	product	NOUN
cblr-13858	2122	31	may	may	AUX
cblr-13858	2122	32	not	not	PART
cblr-13858	2122	33	be	be	AUX
cblr-13858	2122	34	as	as	ADV
cblr-13858	2122	35	valuable	valuable	ADJ
cblr-13858	2122	36	as	as	SCONJ
cblr-13858	2122	37	they	they	PRON
cblr-13858	2122	38	anticipated	anticipate	VERB
cblr-13858	2122	39	.	.	PUNCT
cblr-13858	2123	1	people	people	NOUN
cblr-13858	2123	2	who	who	PRON
cblr-13858	2123	3	make	make	VERB
cblr-13858	2123	4	no	no	DET
cblr-13858	2123	5	-	-	PUNCT
cblr-13858	2123	6	interest	interest	NOUN
cblr-13858	2123	7	loans	loan	NOUN
cblr-13858	2123	8	on	on	ADP
cblr-13858	2123	9	kiva	kiva	PROPN
cblr-13858	2123	10	may	may	AUX
cblr-13858	2123	11	never	never	ADV
cblr-13858	2123	12	recover	recover	VERB
cblr-13858	2123	13	their	their	PRON
cblr-13858	2123	14	principal	principal	NOUN
cblr-13858	2123	15	.	.	PUNCT
cblr-13858	2124	1	securities	security	NOUN
cblr-13858	2124	2	crowdfunding	crowdfunding	NOUN
cblr-13858	2124	3	increases	increase	VERB
cblr-13858	2124	4	the	the	DET
cblr-13858	2124	5	potential	potential	ADJ
cblr-13858	2124	6	gains	gain	NOUN
cblr-13858	2124	7	to	to	ADP
cblr-13858	2124	8	these	these	DET
cblr-13858	2124	9	investors	investor	NOUN
cblr-13858	2124	10	.	.	PUNCT
cblr-13858	2125	1	instead	instead	ADV
cblr-13858	2125	2	of	of	ADP
cblr-13858	2125	3	making	make	VERB
cblr-13858	2125	4	a	a	DET
cblr-13858	2125	5	donation	donation	NOUN
cblr-13858	2125	6	or	or	CCONJ
cblr-13858	2125	7	settling	settle	VERB
cblr-13858	2125	8	for	for	ADP
cblr-13858	2125	9	some	some	DET
cblr-13858	2125	10	reward	reward	NOUN
cblr-13858	2125	11	,	,	PUNCT
cblr-13858	2125	12	investors	investor	NOUN
cblr-13858	2125	13	in	in	ADP
cblr-13858	2125	14	crowdfunded	crowdfunde	VERB
cblr-13858	2125	15	securities	security	NOUN
cblr-13858	2125	16	can	can	AUX
cblr-13858	2125	17	receive	receive	VERB
cblr-13858	2125	18	interest	interest	NOUN
cblr-13858	2125	19	or	or	CCONJ
cblr-13858	2125	20	a	a	DET
cblr-13858	2125	21	share	share	NOUN
cblr-13858	2125	22	of	of	ADP
cblr-13858	2125	23	the	the	DET
cblr-13858	2125	24	entrepreneur	entrepreneur	NOUN
cblr-13858	2125	25	's	's	PART
cblr-13858	2125	26	profits	profit	NOUN
cblr-13858	2125	27	.	.	PUNCT
cblr-13858	2126	1	they	they	PRON
cblr-13858	2126	2	may	may	AUX
cblr-13858	2126	3	not	not	PART
cblr-13858	2126	4	receive	receive	VERB
cblr-13858	2126	5	the	the	DET
cblr-13858	2126	6	promised	promise	VERB
cblr-13858	2126	7	return	return	NOUN
cblr-13858	2126	8	,	,	PUNCT
cblr-13858	2126	9	but	but	CCONJ
cblr-13858	2126	10	even	even	ADV
cblr-13858	2126	11	the	the	DET
cblr-13858	2126	12	possibility	possibility	NOUN
cblr-13858	2126	13	of	of	ADP
cblr-13858	2126	14	interest	interest	NOUN
cblr-13858	2126	15	or	or	CCONJ
cblr-13858	2126	16	profit	profit	NOUN
cblr-13858	2126	17	is	be	AUX
cblr-13858	2126	18	better	well	ADJ
cblr-13858	2126	19	than	than	ADP
cblr-13858	2126	20	no	no	DET
cblr-13858	2126	21	financial	financial	ADJ
cblr-13858	2126	22	return	return	NOUN
cblr-13858	2126	23	at	at	ADV
cblr-13858	2126	24	all	all	ADV
cblr-13858	2126	25	.	.	PUNCT
cblr-13858	2127	1	the	the	DET
cblr-13858	2127	2	risk	risk	NOUN
cblr-13858	2127	3	of	of	ADP
cblr-13858	2127	4	fraud	fraud	NOUN
cblr-13858	2127	5	or	or	CCONJ
cblr-13858	2127	6	self	self	NOUN
cblr-13858	2127	7	-	-	PUNCT
cblr-13858	2127	8	dealing	dealing	NOUN
cblr-13858	2127	9	is	be	AUX
cblr-13858	2127	10	the	the	DET
cblr-13858	2127	11	same	same	ADJ
cblr-13858	2127	12	in	in	ADP
cblr-13858	2127	13	the	the	DET
cblr-13858	2127	14	nonsecurities	nonsecuritie	NOUN
cblr-13858	2127	15	crowdfunding	crowdfunde	VERB
cblr-13858	2127	16	context	context	NOUN
cblr-13858	2127	17	as	as	ADP
cblr-13858	2127	18	in	in	ADP
cblr-13858	2127	19	the	the	DET
cblr-13858	2127	20	securities	security	NOUN
cblr-13858	2127	21	crowdfunding	crowdfunde	VERB
cblr-13858	2127	22	context	context	NOUN
cblr-13858	2127	23	.	.	PUNCT
cblr-13858	2128	1	the	the	DET
cblr-13858	2128	2	gain	gain	NOUN
cblr-13858	2128	3	to	to	ADP
cblr-13858	2128	4	the	the	DET
cblr-13858	2128	5	fraudster	fraudster	NOUN
cblr-13858	2128	6	or	or	CCONJ
cblr-13858	2128	7	the	the	DET
cblr-13858	2128	8	selfdealing	selfdeale	VERB
cblr-13858	2128	9	entrepreneur	entrepreneur	NOUN
cblr-13858	2128	10	depends	depend	VERB
cblr-13858	2128	11	on	on	ADP
cblr-13858	2128	12	the	the	DET
cblr-13858	2128	13	amount	amount	NOUN
cblr-13858	2128	14	invested	invest	VERB
cblr-13858	2128	15	,	,	PUNCT
cblr-13858	2128	16	not	not	PART
cblr-13858	2128	17	on	on	ADP
cblr-13858	2128	18	the	the	DET
cblr-13858	2128	19	type	type	NOUN
cblr-13858	2128	20	of	of	ADP
cblr-13858	2128	21	return	return	NOUN
cblr-13858	2128	22	offered	offer	VERB
cblr-13858	2128	23	to	to	ADP
cblr-13858	2128	24	investors	investor	NOUN
cblr-13858	2128	25	.	.	PUNCT
cblr-13858	2129	1	a	a	DET
cblr-13858	2129	2	$	$	SYM
cblr-13858	2129	3	1,000	1,000	NUM
cblr-13858	2129	4	contribution	contribution	NOUN
cblr-13858	2129	5	provides	provide	VERB
cblr-13858	2129	6	the	the	DET
cblr-13858	2129	7	same	same	ADJ
cblr-13858	2129	8	opportunity	opportunity	NOUN
cblr-13858	2129	9	for	for	ADP
cblr-13858	2129	10	diversion	diversion	NOUN
cblr-13858	2129	11	whether	whether	SCONJ
cblr-13858	2129	12	the	the	DET
cblr-13858	2129	13	offering	offering	NOUN
cblr-13858	2129	14	is	be	AUX
cblr-13858	2129	15	for	for	ADP
cblr-13858	2129	16	a	a	DET
cblr-13858	2129	17	non	non	ADJ
cblr-13858	2129	18	-	-	ADJ
cblr-13858	2129	19	interest	interest	ADJ
cblr-13858	2129	20	loan	loan	NOUN
cblr-13858	2129	21	on	on	ADP
cblr-13858	2129	22	kiva	kiva	PROPN
cblr-13858	2129	23	,	,	PUNCT
cblr-13858	2129	24	a	a	DET
cblr-13858	2129	25	prepurchase	prepurchase	NOUN
cblr-13858	2129	26	on	on	ADP
cblr-13858	2129	27	kickstarter	kickstarter	PROPN
cblr-13858	2129	28	,	,	PUNCT
cblr-13858	2129	29	or	or	CCONJ
cblr-13858	2129	30	a	a	DET
cblr-13858	2129	31	purchase	purchase	NOUN
cblr-13858	2129	32	of	of	ADP
cblr-13858	2129	33	stock	stock	NOUN
cblr-13858	2129	34	on	on	ADP
cblr-13858	2129	35	a	a	DET
cblr-13858	2129	36	securities	security	NOUN
cblr-13858	2129	37	crowdfunding	crowdfunding	NOUN
cblr-13858	2129	38	site	site	NOUN
cblr-13858	2129	39	.	.	PUNCT
cblr-13858	2130	1	the	the	DET
cblr-13858	2130	2	absence	absence	NOUN
cblr-13858	2130	3	of	of	ADP
cblr-13858	2130	4	any	any	DET
cblr-13858	2130	5	serious	serious	ADJ
cblr-13858	2130	6	fraud	fraud	NOUN
cblr-13858	2130	7	problem	problem	NOUN
cblr-13858	2130	8	in	in	ADP
cblr-13858	2130	9	non	non	ADJ
cblr-13858	2130	10	-	-	ADJ
cblr-13858	2130	11	securities	securities	ADJ
cblr-13858	2130	12	crowdfunding	crowdfunding	NOUN
cblr-13858	2130	13	(	(	PUNCT
cblr-13858	2130	14	at	at	ADP
cblr-13858	2130	15	least	least	ADJ
cblr-13858	2130	16	as	as	ADV
cblr-13858	2130	17	far	far	ADV
cblr-13858	2130	18	as	as	SCONJ
cblr-13858	2130	19	we	we	PRON
cblr-13858	2130	20	know	know	VERB
cblr-13858	2130	21	)	)	PUNCT
cblr-13858	2130	22	is	be	AUX
cblr-13858	2130	23	reassuring	reassuring	ADJ
cblr-13858	2130	24	.	.	PUNCT
cblr-13858	2131	1	603	603	NUM
cblr-13858	2131	2	see	see	VERB
cblr-13858	2131	3	supra	supra	PROPN
cblr-13858	2131	4	part	part	PROPN
cblr-13858	2131	5	v.	v.	PROPN
cblr-13858	2131	6	116	116	NUM
cblr-13858	2131	7	columbia	columbia	PROPN
cblr-13858	2131	8	business	business	NOUN
cblr-13858	2131	9	law	law	PROPN
cblr-13858	2131	10	review	review	NOUN
cblr-13858	2131	11	[	[	X
cblr-13858	2131	12	vol	vol	NOUN
cblr-13858	2131	13	.	.	PUNCT
cblr-13858	2131	14	2012	2012	NUM
cblr-13858	2131	15	vii	vii	PROPN
cblr-13858	2131	16	.	.	PUNCT
cblr-13858	2132	1	a	a	DET
cblr-13858	2132	2	crowdfunding	crowdfunding	NOUN
cblr-13858	2132	3	exemption	exemption	NOUN
cblr-13858	2132	4	proposal	proposal	NOUN
cblr-13858	2132	5	a	a	DET
cblr-13858	2132	6	crowdfunding	crowdfunding	NOUN
cblr-13858	2132	7	exemption	exemption	NOUN
cblr-13858	2132	8	could	could	AUX
cblr-13858	2132	9	be	be	AUX
cblr-13858	2132	10	beneficial	beneficial	ADJ
cblr-13858	2132	11	,	,	PUNCT
cblr-13858	2132	12	but	but	CCONJ
cblr-13858	2132	13	the	the	DET
cblr-13858	2132	14	exemption	exemption	NOUN
cblr-13858	2132	15	must	must	AUX
cblr-13858	2132	16	minimize	minimize	VERB
cblr-13858	2132	17	investor	investor	NOUN
cblr-13858	2132	18	losses	loss	NOUN
cblr-13858	2132	19	as	as	ADV
cblr-13858	2132	20	much	much	ADV
cblr-13858	2132	21	as	as	ADP
cblr-13858	2132	22	possible	possible	ADJ
cblr-13858	2132	23	without	without	ADP
cblr-13858	2132	24	destroying	destroy	VERB
cblr-13858	2132	25	its	its	PRON
cblr-13858	2132	26	utility	utility	NOUN
cblr-13858	2132	27	to	to	ADP
cblr-13858	2132	28	entrepreneurs	entrepreneur	NOUN
cblr-13858	2132	29	raising	raise	VERB
cblr-13858	2132	30	capital	capital	NOUN
cblr-13858	2132	31	.	.	PUNCT
cblr-13858	2133	1	however	however	ADV
cblr-13858	2133	2	,	,	PUNCT
cblr-13858	2133	3	investor	investor	NOUN
cblr-13858	2133	4	protection	protection	NOUN
cblr-13858	2133	5	and	and	CCONJ
cblr-13858	2133	6	capital	capital	NOUN
cblr-13858	2133	7	formation	formation	NOUN
cblr-13858	2133	8	are	be	AUX
cblr-13858	2133	9	,	,	PUNCT
cblr-13858	2133	10	to	to	ADP
cblr-13858	2133	11	some	some	DET
cblr-13858	2133	12	extent	extent	NOUN
cblr-13858	2133	13	,	,	PUNCT
cblr-13858	2133	14	incompatible	incompatible	ADJ
cblr-13858	2133	15	goals	goal	NOUN
cblr-13858	2133	16	.	.	PUNCT
cblr-13858	2134	1	it	it	PRON
cblr-13858	2134	2	is	be	AUX
cblr-13858	2134	3	not	not	PART
cblr-13858	2134	4	possible	possible	ADJ
cblr-13858	2134	5	to	to	PART
cblr-13858	2134	6	maximize	maximize	VERB
cblr-13858	2134	7	both	both	PRON
cblr-13858	2134	8	.	.	PUNCT
cblr-13858	2135	1	adding	add	VERB
cblr-13858	2135	2	additional	additional	ADJ
cblr-13858	2135	3	requirements	requirement	NOUN
cblr-13858	2135	4	to	to	PART
cblr-13858	2135	5	protect	protect	VERB
cblr-13858	2135	6	investors	investor	NOUN
cblr-13858	2135	7	will	will	AUX
cblr-13858	2135	8	in	in	ADP
cblr-13858	2135	9	most	most	ADJ
cblr-13858	2135	10	cases	case	NOUN
cblr-13858	2135	11	impose	impose	VERB
cblr-13858	2135	12	an	an	DET
cblr-13858	2135	13	additional	additional	ADJ
cblr-13858	2135	14	cost	cost	NOUN
cblr-13858	2135	15	on	on	ADP
cblr-13858	2135	16	small	small	ADJ
cblr-13858	2135	17	business	business	NOUN
cblr-13858	2135	18	issuers	issuer	NOUN
cblr-13858	2135	19	using	use	VERB
cblr-13858	2135	20	the	the	DET
cblr-13858	2135	21	exemption	exemption	NOUN
cblr-13858	2135	22	.	.	PUNCT
cblr-13858	2136	1	subpart	subpart	NOUN
cblr-13858	2136	2	a	a	PRON
cblr-13858	2136	3	,	,	PUNCT
cblr-13858	2136	4	below	below	ADV
cblr-13858	2136	5	,	,	PUNCT
cblr-13858	2136	6	discusses	discuss	VERB
cblr-13858	2136	7	the	the	DET
cblr-13858	2136	8	requirements	requirement	NOUN
cblr-13858	2136	9	an	an	DET
cblr-13858	2136	10	exemption	exemption	NOUN
cblr-13858	2136	11	should	should	AUX
cblr-13858	2136	12	impose	impose	VERB
cblr-13858	2136	13	on	on	ADP
cblr-13858	2136	14	crowdfunded	crowdfunde	VERB
cblr-13858	2136	15	offerings	offering	NOUN
cblr-13858	2136	16	.	.	PUNCT
cblr-13858	2137	1	subpart	subpart	PROPN
cblr-13858	2137	2	b	b	PROPN
cblr-13858	2137	3	discusses	discuss	VERB
cblr-13858	2137	4	the	the	DET
cblr-13858	2137	5	requirements	requirement	NOUN
cblr-13858	2137	6	an	an	DET
cblr-13858	2137	7	exemption	exemption	NOUN
cblr-13858	2137	8	should	should	AUX
cblr-13858	2137	9	impose	impose	VERB
cblr-13858	2137	10	on	on	ADP
cblr-13858	2137	11	sites	site	NOUN
cblr-13858	2137	12	hosting	host	VERB
cblr-13858	2137	13	those	those	DET
cblr-13858	2137	14	offerings	offering	NOUN
cblr-13858	2137	15	.	.	PUNCT
cblr-13858	2138	1	the	the	DET
cblr-13858	2138	2	locus	locus	NOUN
cblr-13858	2138	3	of	of	ADP
cblr-13858	2138	4	any	any	DET
cblr-13858	2138	5	regulation	regulation	NOUN
cblr-13858	2138	6	should	should	AUX
cblr-13858	2138	7	be	be	AUX
cblr-13858	2138	8	the	the	DET
cblr-13858	2138	9	crowdfunding	crowdfunding	NOUN
cblr-13858	2138	10	sites	site	NOUN
cblr-13858	2138	11	,	,	PUNCT
cblr-13858	2138	12	not	not	PART
cblr-13858	2138	13	the	the	DET
cblr-13858	2138	14	entrepreneurs	entrepreneur	NOUN
cblr-13858	2138	15	making	make	VERB
cblr-13858	2138	16	the	the	DET
cblr-13858	2138	17	offerings	offering	NOUN
cblr-13858	2138	18	.	.	PUNCT
cblr-13858	2139	1	the	the	DET
cblr-13858	2139	2	small	small	ADJ
cblr-13858	2139	3	companies	company	NOUN
cblr-13858	2139	4	and	and	CCONJ
cblr-13858	2139	5	entrepreneurs	entrepreneur	NOUN
cblr-13858	2139	6	most	most	ADV
cblr-13858	2139	7	likely	likely	ADJ
cblr-13858	2139	8	to	to	PART
cblr-13858	2139	9	engage	engage	VERB
cblr-13858	2139	10	in	in	ADP
cblr-13858	2139	11	crowdfunding	crowdfunding	NOUN
cblr-13858	2139	12	are	be	AUX
cblr-13858	2139	13	poorly	poorly	ADV
cblr-13858	2139	14	capitalized	capitalize	VERB
cblr-13858	2139	15	and	and	CCONJ
cblr-13858	2139	16	legally	legally	ADV
cblr-13858	2139	17	unsophisticated	unsophisticated	ADJ
cblr-13858	2139	18	.	.	PUNCT
cblr-13858	2140	1	they	they	PRON
cblr-13858	2140	2	do	do	AUX
cblr-13858	2140	3	not	not	PART
cblr-13858	2140	4	have	have	VERB
cblr-13858	2140	5	and	and	CCONJ
cblr-13858	2140	6	can	can	AUX
cblr-13858	2140	7	not	not	PART
cblr-13858	2140	8	afford	afford	VERB
cblr-13858	2140	9	sophisticated	sophisticated	ADJ
cblr-13858	2140	10	securities	security	NOUN
cblr-13858	2140	11	counsel	counsel	NOUN
cblr-13858	2140	12	to	to	PART
cblr-13858	2140	13	guide	guide	VERB
cblr-13858	2140	14	them	they	PRON
cblr-13858	2140	15	through	through	ADP
cblr-13858	2140	16	a	a	DET
cblr-13858	2140	17	labyrinth	labyrinth	NOUN
cblr-13858	2140	18	of	of	ADP
cblr-13858	2140	19	complex	complex	ADJ
cblr-13858	2140	20	regulations.604	regulations.604	VERB
cblr-13858	2140	21	too	too	ADV
cblr-13858	2140	22	much	much	ADJ
cblr-13858	2140	23	complexity	complexity	NOUN
cblr-13858	2140	24	at	at	ADP
cblr-13858	2140	25	the	the	DET
cblr-13858	2140	26	entrepreneurial	entrepreneurial	ADJ
cblr-13858	2140	27	level	level	NOUN
cblr-13858	2140	28	will	will	AUX
cblr-13858	2140	29	produce	produce	VERB
cblr-13858	2140	30	a	a	DET
cblr-13858	2140	31	host	host	NOUN
cblr-13858	2140	32	of	of	ADP
cblr-13858	2140	33	unintended	unintended	ADJ
cblr-13858	2140	34	violations	violation	NOUN
cblr-13858	2140	35	and	and	CCONJ
cblr-13858	2140	36	destroy	destroy	VERB
cblr-13858	2140	37	the	the	DET
cblr-13858	2140	38	exemption	exemption	NOUN
cblr-13858	2140	39	's	's	PART
cblr-13858	2140	40	utility	utility	NOUN
cblr-13858	2140	41	.	.	PUNCT
cblr-13858	2141	1	crowdfunding	crowdfunde	VERB
cblr-13858	2141	2	sites	site	NOUN
cblr-13858	2141	3	,	,	PUNCT
cblr-13858	2141	4	in	in	ADP
cblr-13858	2141	5	contrast	contrast	NOUN
cblr-13858	2141	6	,	,	PUNCT
cblr-13858	2141	7	are	be	AUX
cblr-13858	2141	8	repeat	repeat	NOUN
cblr-13858	2141	9	players	player	NOUN
cblr-13858	2141	10	.	.	PUNCT
cblr-13858	2142	1	they	they	PRON
cblr-13858	2142	2	can	can	AUX
cblr-13858	2142	3	spread	spread	VERB
cblr-13858	2142	4	any	any	DET
cblr-13858	2142	5	regulatory	regulatory	ADJ
cblr-13858	2142	6	costs	cost	NOUN
cblr-13858	2142	7	over	over	ADP
cblr-13858	2142	8	a	a	DET
cblr-13858	2142	9	large	large	ADJ
cblr-13858	2142	10	number	number	NOUN
cblr-13858	2142	11	of	of	ADP
cblr-13858	2142	12	offerings	offering	NOUN
cblr-13858	2142	13	.	.	PUNCT
cblr-13858	2143	1	they	they	PRON
cblr-13858	2143	2	are	be	AUX
cblr-13858	2143	3	better	well	ADV
cblr-13858	2143	4	capitalized	capitalize	VERB
cblr-13858	2143	5	than	than	ADP
cblr-13858	2143	6	the	the	DET
cblr-13858	2143	7	entrepreneurs	entrepreneur	NOUN
cblr-13858	2143	8	using	use	VERB
cblr-13858	2143	9	their	their	PRON
cblr-13858	2143	10	sites	site	NOUN
cblr-13858	2143	11	and	and	CCONJ
cblr-13858	2143	12	can	can	AUX
cblr-13858	2143	13	afford	afford	VERB
cblr-13858	2143	14	securities	security	NOUN
cblr-13858	2143	15	counsel	counsel	NOUN
cblr-13858	2143	16	.	.	PUNCT
cblr-13858	2144	1	crowdfunding	crowdfunde	VERB
cblr-13858	2144	2	sites	site	NOUN
cblr-13858	2144	3	are	be	AUX
cblr-13858	2144	4	also	also	ADV
cblr-13858	2144	5	much	much	ADV
cblr-13858	2144	6	more	more	ADV
cblr-13858	2144	7	visible	visible	ADJ
cblr-13858	2144	8	to	to	ADP
cblr-13858	2144	9	the	the	DET
cblr-13858	2144	10	sec	sec	PROPN
cblr-13858	2144	11	for	for	ADP
cblr-13858	2144	12	regulatory	regulatory	ADJ
cblr-13858	2144	13	enforcement	enforcement	NOUN
cblr-13858	2144	14	purposes	purpose	NOUN
cblr-13858	2144	15	.	.	PUNCT
cblr-13858	2145	1	thus	thus	ADV
cblr-13858	2145	2	,	,	PUNCT
cblr-13858	2145	3	crowdfunding	crowdfunde	VERB
cblr-13858	2145	4	sites	site	NOUN
cblr-13858	2145	5	are	be	AUX
cblr-13858	2145	6	a	a	DET
cblr-13858	2145	7	more	more	ADV
cblr-13858	2145	8	desirable	desirable	ADJ
cblr-13858	2145	9	locus	locus	NOUN
cblr-13858	2145	10	for	for	ADP
cblr-13858	2145	11	any	any	DET
cblr-13858	2145	12	conditions	condition	NOUN
cblr-13858	2145	13	necessary	necessary	ADJ
cblr-13858	2145	14	for	for	ADP
cblr-13858	2145	15	investor	investor	NOUN
cblr-13858	2145	16	protection	protection	NOUN
cblr-13858	2145	17	.	.	PUNCT
cblr-13858	2146	1	conditions	condition	NOUN
cblr-13858	2146	2	may	may	AUX
cblr-13858	2146	3	be	be	AUX
cblr-13858	2146	4	imposed	impose	VERB
cblr-13858	2146	5	on	on	ADP
cblr-13858	2146	6	the	the	DET
cblr-13858	2146	7	offerings	offering	NOUN
cblr-13858	2146	8	or	or	CCONJ
cblr-13858	2146	9	on	on	ADP
cblr-13858	2146	10	the	the	DET
cblr-13858	2146	11	companies	company	NOUN
cblr-13858	2146	12	making	make	VERB
cblr-13858	2146	13	the	the	DET
cblr-13858	2146	14	offerings	offering	NOUN
cblr-13858	2146	15	,	,	PUNCT
cblr-13858	2146	16	but	but	CCONJ
cblr-13858	2146	17	those	those	DET
cblr-13858	2146	18	restrictions	restriction	NOUN
cblr-13858	2146	19	should	should	AUX
cblr-13858	2146	20	be	be	AUX
cblr-13858	2146	21	enforceable	enforceable	ADJ
cblr-13858	2146	22	at	at	ADP
cblr-13858	2146	23	the	the	DET
cblr-13858	2146	24	site	site	NOUN
cblr-13858	2146	25	level	level	NOUN
cblr-13858	2146	26	,	,	PUNCT
cblr-13858	2146	27	with	with	ADP
cblr-13858	2146	28	the	the	DET
cblr-13858	2146	29	crowdfunding	crowdfunding	NOUN
cblr-13858	2146	30	sites	site	NOUN
cblr-13858	2146	31	acting	act	VERB
cblr-13858	2146	32	as	as	SCONJ
cblr-13858	2146	33	gatekeepers	gatekeeper	NOUN
cblr-13858	2146	34	to	to	PART
cblr-13858	2146	35	enforce	enforce	VERB
cblr-13858	2146	36	the	the	DET
cblr-13858	2146	37	restrictions	restriction	NOUN
cblr-13858	2146	38	.	.	PUNCT
cblr-13858	2147	1	for	for	ADP
cblr-13858	2147	2	example	example	NOUN
cblr-13858	2147	3	,	,	PUNCT
cblr-13858	2147	4	a	a	DET
cblr-13858	2147	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2147	6	site	site	NOUN
cblr-13858	2147	7	can	can	AUX
cblr-13858	2147	8	easily	easily	ADV
cblr-13858	2147	9	monitor	monitor	VERB
cblr-13858	2147	10	and	and	CCONJ
cblr-13858	2147	11	enforce	enforce	VERB
cblr-13858	2147	12	a	a	DET
cblr-13858	2147	13	restriction	restriction	NOUN
cblr-13858	2147	14	on	on	ADP
cblr-13858	2147	15	the	the	DET
cblr-13858	2147	16	dollar	dollar	NOUN
cblr-13858	2147	17	amount	amount	NOUN
cblr-13858	2147	18	of	of	ADP
cblr-13858	2147	19	"	"	PUNCT
cblr-13858	2147	20	6	6	NUM
cblr-13858	2147	21	the	the	DET
cblr-13858	2147	22	cost	cost	NOUN
cblr-13858	2147	23	of	of	ADP
cblr-13858	2147	24	securities	security	NOUN
cblr-13858	2147	25	counsel	counsel	NOUN
cblr-13858	2147	26	could	could	AUX
cblr-13858	2147	27	easily	easily	ADV
cblr-13858	2147	28	exceed	exceed	VERB
cblr-13858	2147	29	the	the	DET
cblr-13858	2147	30	amount	amount	NOUN
cblr-13858	2147	31	being	be	AUX
cblr-13858	2147	32	raised	raise	VERB
cblr-13858	2147	33	in	in	ADP
cblr-13858	2147	34	smaller	small	ADJ
cblr-13858	2147	35	offerings	offering	NOUN
cblr-13858	2147	36	.	.	PUNCT
cblr-13858	2148	1	no	no	INTJ
cblr-13858	2148	2	.	.	PUNCT
cblr-13858	2149	1	1:1]1	1:1]1	NUM
cblr-13858	2149	2	crowdfunding	crowdfunde	VERB
cblr-13858	2149	3	and	and	CCONJ
cblr-13858	2149	4	securities	security	NOUN
cblr-13858	2149	5	laws	law	NOUN
cblr-13858	2149	6	117	117	NUM
cblr-13858	2149	7	columbia	columbia	PROPN
cblr-13858	2149	8	business	business	PROPN
cblr-13858	2149	9	la	la	PROPN
cblr-13858	2149	10	wreview	wreview	VERB
cblr-13858	2149	11	crowdfunding	crowdfunding	NOUN
cblr-13858	2149	12	offerings	offering	NOUN
cblr-13858	2149	13	,	,	PUNCT
cblr-13858	2149	14	since	since	SCONJ
cblr-13858	2149	15	the	the	DET
cblr-13858	2149	16	money	money	NOUN
cblr-13858	2149	17	flows	flow	VERB
cblr-13858	2149	18	through	through	ADP
cblr-13858	2149	19	the	the	DET
cblr-13858	2149	20	site	site	NOUN
cblr-13858	2149	21	.	.	PUNCT
cblr-13858	2150	1	but	but	CCONJ
cblr-13858	2150	2	the	the	DET
cblr-13858	2150	3	entrepreneur	entrepreneur	NOUN
cblr-13858	2150	4	's	's	PART
cblr-13858	2150	5	off	off	ADJ
cblr-13858	2150	6	-	-	PUNCT
cblr-13858	2150	7	site	site	NOUN
cblr-13858	2150	8	activities	activity	NOUN
cblr-13858	2150	9	are	be	AUX
cblr-13858	2150	10	not	not	PART
cblr-13858	2150	11	as	as	ADV
cblr-13858	2150	12	easily	easily	ADV
cblr-13858	2150	13	monitored	monitor	VERB
cblr-13858	2150	14	.	.	PUNCT
cblr-13858	2151	1	if	if	SCONJ
cblr-13858	2151	2	,	,	PUNCT
cblr-13858	2151	3	for	for	ADP
cblr-13858	2151	4	example	example	NOUN
cblr-13858	2151	5	,	,	PUNCT
cblr-13858	2151	6	the	the	DET
cblr-13858	2151	7	available	available	ADJ
cblr-13858	2151	8	amount	amount	NOUN
cblr-13858	2151	9	is	be	AUX
cblr-13858	2151	10	affected	affect	VERB
cblr-13858	2151	11	by	by	ADP
cblr-13858	2151	12	fundraising	fundraise	VERB
cblr-13858	2151	13	the	the	DET
cblr-13858	2151	14	entrepreneur	entrepreneur	NOUN
cblr-13858	2151	15	does	do	VERB
cblr-13858	2151	16	off	off	ADP
cblr-13858	2151	17	-	-	PUNCT
cblr-13858	2151	18	site	site	NOUN
cblr-13858	2151	19	,	,	PUNCT
cblr-13858	2151	20	the	the	DET
cblr-13858	2151	21	site	site	NOUN
cblr-13858	2151	22	has	have	VERB
cblr-13858	2151	23	no	no	DET
cblr-13858	2151	24	effective	effective	ADJ
cblr-13858	2151	25	means	mean	NOUN
cblr-13858	2151	26	to	to	PART
cblr-13858	2151	27	enforce	enforce	VERB
cblr-13858	2151	28	the	the	DET
cblr-13858	2151	29	limit	limit	NOUN
cblr-13858	2151	30	.	.	PUNCT
cblr-13858	2152	1	a.	a.	NOUN
cblr-13858	2152	2	restrictions	restriction	NOUN
cblr-13858	2152	3	on	on	ADP
cblr-13858	2152	4	the	the	DET
cblr-13858	2152	5	offering	offering	NOUN
cblr-13858	2152	6	the	the	DET
cblr-13858	2152	7	dollar	dollar	NOUN
cblr-13858	2152	8	amount	amount	NOUN
cblr-13858	2152	9	of	of	ADP
cblr-13858	2152	10	offerings	offering	NOUN
cblr-13858	2152	11	qualifying	qualify	VERB
cblr-13858	2152	12	for	for	ADP
cblr-13858	2152	13	the	the	DET
cblr-13858	2152	14	crowdfunding	crowdfunding	NOUN
cblr-13858	2152	15	exemption	exemption	NOUN
cblr-13858	2152	16	should	should	AUX
cblr-13858	2152	17	be	be	AUX
cblr-13858	2152	18	limited	limit	VERB
cblr-13858	2152	19	,	,	PUNCT
cblr-13858	2152	20	as	as	SCONJ
cblr-13858	2152	21	should	should	AUX
cblr-13858	2152	22	the	the	DET
cblr-13858	2152	23	amount	amount	NOUN
cblr-13858	2152	24	that	that	PRON
cblr-13858	2152	25	any	any	DET
cblr-13858	2152	26	single	single	ADJ
cblr-13858	2152	27	investor	investor	NOUN
cblr-13858	2152	28	may	may	AUX
cblr-13858	2152	29	invest	invest	VERB
cblr-13858	2152	30	.	.	PUNCT
cblr-13858	2153	1	it	it	PRON
cblr-13858	2153	2	is	be	AUX
cblr-13858	2153	3	not	not	PART
cblr-13858	2153	4	clear	clear	ADJ
cblr-13858	2153	5	what	what	PRON
cblr-13858	2153	6	the	the	DET
cblr-13858	2153	7	exact	exact	ADJ
cblr-13858	2153	8	amounts	amount	NOUN
cblr-13858	2153	9	of	of	ADP
cblr-13858	2153	10	those	those	DET
cblr-13858	2153	11	limits	limit	NOUN
cblr-13858	2153	12	should	should	AUX
cblr-13858	2153	13	be	be	AUX
cblr-13858	2153	14	;	;	PUNCT
cblr-13858	2153	15	there	there	PRON
cblr-13858	2153	16	is	be	VERB
cblr-13858	2153	17	no	no	DET
cblr-13858	2153	18	magic	magic	ADJ
cblr-13858	2153	19	number	number	NOUN
cblr-13858	2153	20	.	.	PUNCT
cblr-13858	2154	1	this	this	DET
cblr-13858	2154	2	article	article	NOUN
cblr-13858	2154	3	proposes	propose	VERB
cblr-13858	2154	4	an	an	DET
cblr-13858	2154	5	annual	annual	ADJ
cblr-13858	2154	6	offering	offering	NOUN
cblr-13858	2154	7	limit	limit	NOUN
cblr-13858	2154	8	of	of	ADP
cblr-13858	2154	9	$	$	SYM
cblr-13858	2154	10	250,000	250,000	NUM
cblr-13858	2154	11	to	to	PART
cblr-13858	2154	12	$	$	SYM
cblr-13858	2154	13	500,000	500,000	NUM
cblr-13858	2154	14	,	,	PUNCT
cblr-13858	2154	15	with	with	ADP
cblr-13858	2154	16	an	an	DET
cblr-13858	2154	17	annual	annual	ADJ
cblr-13858	2154	18	limit	limit	NOUN
cblr-13858	2154	19	on	on	ADP
cblr-13858	2154	20	individual	individual	ADJ
cblr-13858	2154	21	contributions	contribution	NOUN
cblr-13858	2154	22	equal	equal	ADJ
cblr-13858	2154	23	to	to	ADP
cblr-13858	2154	24	the	the	DET
cblr-13858	2154	25	greater	great	ADJ
cblr-13858	2154	26	of	of	ADP
cblr-13858	2154	27	$	$	SYM
cblr-13858	2154	28	500	500	NUM
cblr-13858	2154	29	or	or	CCONJ
cblr-13858	2154	30	2	2	NUM
cblr-13858	2154	31	%	%	NOUN
cblr-13858	2154	32	of	of	ADP
cblr-13858	2154	33	the	the	DET
cblr-13858	2154	34	investor	investor	NOUN
cblr-13858	2154	35	's	's	PART
cblr-13858	2154	36	annual	annual	ADJ
cblr-13858	2154	37	income	income	NOUN
cblr-13858	2154	38	.	.	PUNCT
cblr-13858	2155	1	integration	integration	NOUN
cblr-13858	2155	2	and	and	CCONJ
cblr-13858	2155	3	aggregation	aggregation	NOUN
cblr-13858	2155	4	concepts	concept	NOUN
cblr-13858	2155	5	should	should	AUX
cblr-13858	2155	6	not	not	PART
cblr-13858	2155	7	be	be	AUX
cblr-13858	2155	8	applied	apply	VERB
cblr-13858	2155	9	to	to	ADP
cblr-13858	2155	10	the	the	DET
cblr-13858	2155	11	offering	offering	NOUN
cblr-13858	2155	12	limit	limit	NOUN
cblr-13858	2155	13	.	.	PUNCT
cblr-13858	2156	1	a	a	DET
cblr-13858	2156	2	limit	limit	NOUN
cblr-13858	2156	3	on	on	ADP
cblr-13858	2156	4	the	the	DET
cblr-13858	2156	5	size	size	NOUN
cblr-13858	2156	6	of	of	ADP
cblr-13858	2156	7	companies	company	NOUN
cblr-13858	2156	8	eligible	eligible	ADJ
cblr-13858	2156	9	to	to	PART
cblr-13858	2156	10	engage	engage	VERB
cblr-13858	2156	11	in	in	ADP
cblr-13858	2156	12	crowdfunding	crowdfunding	NOUN
cblr-13858	2156	13	offerings	offering	NOUN
cblr-13858	2156	14	is	be	AUX
cblr-13858	2156	15	not	not	PART
cblr-13858	2156	16	necessary	necessary	ADJ
cblr-13858	2156	17	,	,	PUNCT
cblr-13858	2156	18	but	but	CCONJ
cblr-13858	2156	19	if	if	SCONJ
cblr-13858	2156	20	the	the	DET
cblr-13858	2156	21	sec	sec	PROPN
cblr-13858	2156	22	believes	believe	VERB
cblr-13858	2156	23	such	such	DET
cblr-13858	2156	24	a	a	DET
cblr-13858	2156	25	limit	limit	NOUN
cblr-13858	2156	26	is	be	AUX
cblr-13858	2156	27	appropriate	appropriate	ADJ
cblr-13858	2156	28	,	,	PUNCT
cblr-13858	2156	29	limiting	limit	VERB
cblr-13858	2156	30	the	the	DET
cblr-13858	2156	31	exemption	exemption	NOUN
cblr-13858	2156	32	to	to	ADP
cblr-13858	2156	33	non	non	ADJ
cblr-13858	2156	34	-	-	ADJ
cblr-13858	2156	35	reporting	reporting	ADJ
cblr-13858	2156	36	companies	company	NOUN
cblr-13858	2156	37	would	would	AUX
cblr-13858	2156	38	do	do	VERB
cblr-13858	2156	39	little	little	ADJ
cblr-13858	2156	40	damage	damage	NOUN
cblr-13858	2156	41	.	.	PUNCT
cblr-13858	2157	1	finally	finally	ADV
cblr-13858	2157	2	,	,	PUNCT
cblr-13858	2157	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2157	4	should	should	AUX
cblr-13858	2157	5	be	be	AUX
cblr-13858	2157	6	exempted	exempt	VERB
cblr-13858	2157	7	only	only	ADV
cblr-13858	2157	8	if	if	SCONJ
cblr-13858	2157	9	it	it	PRON
cblr-13858	2157	10	occurs	occur	VERB
cblr-13858	2157	11	on	on	ADP
cblr-13858	2157	12	a	a	DET
cblr-13858	2157	13	crowdfunding	crowdfunding	NOUN
cblr-13858	2157	14	site	site	NOUN
cblr-13858	2157	15	that	that	PRON
cblr-13858	2157	16	meets	meet	VERB
cblr-13858	2157	17	the	the	DET
cblr-13858	2157	18	requirements	requirement	NOUN
cblr-13858	2157	19	specified	specify	VERB
cblr-13858	2157	20	in	in	ADP
cblr-13858	2157	21	subpart	subpart	NOUN
cblr-13858	2157	22	b	b	NOUN
cblr-13858	2157	23	below	below	ADV
cblr-13858	2157	24	.	.	PUNCT
cblr-13858	2158	1	1	1	X
cblr-13858	2158	2	.	.	X
cblr-13858	2158	3	offering	offer	VERB
cblr-13858	2158	4	amount	amount	NOUN
cblr-13858	2158	5	an	an	DET
cblr-13858	2158	6	absolute	absolute	ADJ
cblr-13858	2158	7	,	,	PUNCT
cblr-13858	2158	8	unconditional	unconditional	ADJ
cblr-13858	2158	9	exemption	exemption	NOUN
cblr-13858	2158	10	of	of	ADP
cblr-13858	2158	11	smaller	small	ADJ
cblr-13858	2158	12	offerings	offering	NOUN
cblr-13858	2158	13	from	from	ADP
cblr-13858	2158	14	securities	security	NOUN
cblr-13858	2158	15	act	act	NOUN
cblr-13858	2158	16	registration	registration	NOUN
cblr-13858	2158	17	requirements	requirement	NOUN
cblr-13858	2158	18	makes	make	VERB
cblr-13858	2158	19	sense.60	sense.60	PROPN
cblr-13858	2158	20	5	5	NUM
cblr-13858	2158	21	the	the	DET
cblr-13858	2158	22	cost	cost	NOUN
cblr-13858	2158	23	to	to	PART
cblr-13858	2158	24	register	register	VERB
cblr-13858	2158	25	a	a	DET
cblr-13858	2158	26	relatively	relatively	ADV
cblr-13858	2158	27	small	small	ADJ
cblr-13858	2158	28	offering	offering	NOUN
cblr-13858	2158	29	605	605	NUM
cblr-13858	2158	30	for	for	ADP
cblr-13858	2158	31	a	a	DET
cblr-13858	2158	32	more	more	ADV
cblr-13858	2158	33	detailed	detailed	ADJ
cblr-13858	2158	34	discussion	discussion	NOUN
cblr-13858	2158	35	of	of	ADP
cblr-13858	2158	36	this	this	DET
cblr-13858	2158	37	point	point	NOUN
cblr-13858	2158	38	,	,	PUNCT
cblr-13858	2158	39	see	see	VERB
cblr-13858	2158	40	c.	c.	PROPN
cblr-13858	2158	41	steven	steven	PROPN
cblr-13858	2158	42	bradford	bradford	PROPN
cblr-13858	2158	43	,	,	PUNCT
cblr-13858	2158	44	securities	security	NOUN
cblr-13858	2158	45	regulation	regulation	NOUN
cblr-13858	2158	46	and	and	CCONJ
cblr-13858	2158	47	small	small	ADJ
cblr-13858	2158	48	business	business	NOUN
cblr-13858	2158	49	:	:	PUNCT
cblr-13858	2158	50	rule	rule	VERB
cblr-13858	2158	51	504	504	NUM
cblr-13858	2158	52	and	and	CCONJ
cblr-13858	2158	53	the	the	DET
cblr-13858	2158	54	case	case	NOUN
cblr-13858	2158	55	for	for	ADP
cblr-13858	2158	56	an	an	DET
cblr-13858	2158	57	unconditional	unconditional	ADJ
cblr-13858	2158	58	exemption	exemption	NOUN
cblr-13858	2158	59	,	,	PUNCT
cblr-13858	2158	60	5	5	NUM
cblr-13858	2158	61	j.	j.	PROPN
cblr-13858	2158	62	small	small	PROPN
cblr-13858	2158	63	&	&	CCONJ
cblr-13858	2158	64	emerging	emerge	VERB
cblr-13858	2158	65	bus	bus	NOUN
cblr-13858	2158	66	.	.	PUNCT
cblr-13858	2159	1	law	law	NOUN
cblr-13858	2159	2	1	1	NUM
cblr-13858	2159	3	passim	passim	NOUN
cblr-13858	2159	4	(	(	PUNCT
cblr-13858	2159	5	2001	2001	NUM
cblr-13858	2159	6	)	)	PUNCT
cblr-13858	2160	1	[	[	X
cblr-13858	2160	2	hereinafter	hereinafter	NOUN
cblr-13858	2160	3	bradford	bradford	NOUN
cblr-13858	2160	4	,	,	PUNCT
cblr-13858	2160	5	securities	security	NOUN
cblr-13858	2160	6	regulation	regulation	NOUN
cblr-13858	2160	7	and	and	CCONJ
cblr-13858	2160	8	small	small	ADJ
cblr-13858	2160	9	business	business	NOUN
cblr-13858	2160	10	]	]	PUNCT
cblr-13858	2160	11	.	.	PUNCT
cblr-13858	2161	1	the	the	DET
cblr-13858	2161	2	argument	argument	NOUN
cblr-13858	2161	3	for	for	ADP
cblr-13858	2161	4	a	a	DET
cblr-13858	2161	5	securities	security	NOUN
cblr-13858	2161	6	act	act	NOUN
cblr-13858	2161	7	exemption	exemption	NOUN
cblr-13858	2161	8	for	for	ADP
cblr-13858	2161	9	smaller	small	ADJ
cblr-13858	2161	10	offerings	offering	NOUN
cblr-13858	2161	11	is	be	AUX
cblr-13858	2161	12	just	just	ADV
cblr-13858	2161	13	a	a	DET
cblr-13858	2161	14	specific	specific	ADJ
cblr-13858	2161	15	case	case	NOUN
cblr-13858	2161	16	of	of	ADP
cblr-13858	2161	17	the	the	DET
cblr-13858	2161	18	more	more	ADV
cblr-13858	2161	19	general	general	ADJ
cblr-13858	2161	20	economic	economic	ADJ
cblr-13858	2161	21	argument	argument	NOUN
cblr-13858	2161	22	for	for	ADP
cblr-13858	2161	23	small	small	ADJ
cblr-13858	2161	24	business	business	NOUN
cblr-13858	2161	25	exemptions	exemption	NOUN
cblr-13858	2161	26	.	.	PUNCT
cblr-13858	2162	1	see	see	VERB
cblr-13858	2162	2	c.	c.	PROPN
cblr-13858	2162	3	steven	steven	PROPN
cblr-13858	2162	4	bradford	bradford	PROPN
cblr-13858	2162	5	,	,	PUNCT
cblr-13858	2162	6	does	do	VERB
cblr-13858	2162	7	size	size	NOUN
cblr-13858	2162	8	matter	matter	NOUN
cblr-13858	2162	9	?	?	PUNCT
cblr-13858	2163	1	an	an	DET
cblr-13858	2163	2	economic	economic	ADJ
cblr-13858	2163	3	analysis	analysis	NOUN
cblr-13858	2163	4	of	of	ADP
cblr-13858	2163	5	small	small	ADJ
cblr-13858	2163	6	business	business	NOUN
cblr-13858	2163	7	exemptions	exemption	NOUN
cblr-13858	2163	8	from	from	ADP
cblr-13858	2163	9	regulation	regulation	NOUN
cblr-13858	2163	10	,	,	PUNCT
cblr-13858	2163	11	8	8	NUM
cblr-13858	2163	12	j.	j.	PROPN
cblr-13858	2163	13	small	small	PROPN
cblr-13858	2163	14	&	&	CCONJ
cblr-13858	2163	15	emerging	emerge	VERB
cblr-13858	2163	16	bus	bus	NOUN
cblr-13858	2163	17	.	.	PUNCT
cblr-13858	2164	1	law	law	NOUN
cblr-13858	2164	2	1	1	NUM
cblr-13858	2164	3	,	,	PUNCT
cblr-13858	2164	4	17	17	NUM
cblr-13858	2164	5	-	-	SYM
cblr-13858	2164	6	20	20	NUM
cblr-13858	2164	7	(	(	PUNCT
cblr-13858	2164	8	2004	2004	NUM
cblr-13858	2164	9	)	)	PUNCT
cblr-13858	2165	1	[	[	X
cblr-13858	2165	2	hereinafter	hereinafter	NOUN
cblr-13858	2165	3	bradford	bradford	NOUN
cblr-13858	2165	4	,	,	PUNCT
cblr-13858	2165	5	does	do	AUX
cblr-13858	2165	6	size	size	NOUN
cblr-13858	2165	7	matter	matter	NOUN
cblr-13858	2165	8	?	?	PUNCT
cblr-13858	2165	9	]	]	PUNCT
cblr-13858	2165	10	.	.	PUNCT
cblr-13858	2166	1	118	118	NUM
cblr-13858	2167	1	[	[	X
cblr-13858	2167	2	vol	vol	NOUN
cblr-13858	2167	3	.	.	PUNCT
cblr-13858	2167	4	2012	2012	NUM
cblr-13858	2167	5	cro	cro	NOUN
cblr-13858	2167	6	wdfunding	wdfunding	NOUN
cblr-13858	2167	7	and	and	CCONJ
cblr-13858	2167	8	securities	security	NOUN
cblr-13858	2167	9	laws	law	NOUN
cblr-13858	2167	10	exceeds	exceed	VERB
cblr-13858	2167	11	any	any	DET
cblr-13858	2167	12	benefit	benefit	NOUN
cblr-13858	2167	13	that	that	PRON
cblr-13858	2167	14	registration	registration	NOUN
cblr-13858	2167	15	could	could	AUX
cblr-13858	2167	16	provide	provide	VERB
cblr-13858	2167	17	.	.	PUNCT
cblr-13858	2168	1	"o	"o	PROPN
cblr-13858	2168	2	'	'	PUNCT
cblr-13858	2168	3	this	this	PRON
cblr-13858	2168	4	is	be	AUX
cblr-13858	2168	5	true	true	ADJ
cblr-13858	2168	6	even	even	ADV
cblr-13858	2168	7	if	if	SCONJ
cblr-13858	2168	8	fraud	fraud	NOUN
cblr-13858	2168	9	is	be	AUX
cblr-13858	2168	10	more	more	ADV
cblr-13858	2168	11	likely	likely	ADJ
cblr-13858	2168	12	in	in	ADP
cblr-13858	2168	13	smaller	small	ADJ
cblr-13858	2168	14	offerings	offering	NOUN
cblr-13858	2168	15	.	.	PUNCT
cblr-13858	2169	1	although	although	SCONJ
cblr-13858	2169	2	the	the	DET
cblr-13858	2169	3	likelihood	likelihood	NOUN
cblr-13858	2169	4	of	of	ADP
cblr-13858	2169	5	fraud	fraud	NOUN
cblr-13858	2169	6	affects	affect	VERB
cblr-13858	2169	7	the	the	DET
cblr-13858	2169	8	dollar	dollar	NOUN
cblr-13858	2169	9	amount	amount	NOUN
cblr-13858	2169	10	below	below	ADV
cblr-13858	2169	11	which	which	PRON
cblr-13858	2169	12	offerings	offering	NOUN
cblr-13858	2169	13	should	should	AUX
cblr-13858	2169	14	be	be	AUX
cblr-13858	2169	15	exempted	exempt	VERB
cblr-13858	2169	16	,	,	PUNCT
cblr-13858	2169	17	it	it	PRON
cblr-13858	2169	18	does	do	AUX
cblr-13858	2169	19	not	not	PART
cblr-13858	2169	20	affect	affect	VERB
cblr-13858	2169	21	the	the	DET
cblr-13858	2169	22	case	case	NOUN
cblr-13858	2169	23	for	for	ADP
cblr-13858	2169	24	such	such	DET
cblr-13858	2169	25	an	an	DET
cblr-13858	2169	26	exemption.60	exemption.60	PROPN
cblr-13858	2169	27	7	7	NUM
cblr-13858	2169	28	economies	economy	NOUN
cblr-13858	2169	29	of	of	ADP
cblr-13858	2169	30	scale	scale	NOUN
cblr-13858	2169	31	make	make	VERB
cblr-13858	2169	32	registration	registration	NOUN
cblr-13858	2169	33	inefficient	inefficient	ADJ
cblr-13858	2169	34	for	for	ADP
cblr-13858	2169	35	smaller	small	ADJ
cblr-13858	2169	36	offerings	offering	NOUN
cblr-13858	2169	37	,	,	PUNCT
cblr-13858	2169	38	even	even	ADV
cblr-13858	2169	39	if	if	SCONJ
cblr-13858	2169	40	registration	registration	NOUN
cblr-13858	2169	41	creates	create	VERB
cblr-13858	2169	42	a	a	DET
cblr-13858	2169	43	net	net	ADJ
cblr-13858	2169	44	benefit	benefit	NOUN
cblr-13858	2169	45	for	for	ADP
cblr-13858	2169	46	larger	large	ADJ
cblr-13858	2169	47	offerings.o6	offerings.o6	PROPN
cblr-13858	2169	48	for	for	ADP
cblr-13858	2169	49	example	example	NOUN
cblr-13858	2169	50	,	,	PUNCT
cblr-13858	2169	51	consider	consider	VERB
cblr-13858	2169	52	an	an	DET
cblr-13858	2169	53	attempt	attempt	NOUN
cblr-13858	2169	54	to	to	PART
cblr-13858	2169	55	raise	raise	VERB
cblr-13858	2169	56	$	$	SYM
cblr-13858	2169	57	20,000	20,000	NUM
cblr-13858	2169	58	.	.	PUNCT
cblr-13858	2170	1	the	the	DET
cblr-13858	2170	2	maximum	maximum	ADJ
cblr-13858	2170	3	amount	amount	NOUN
cblr-13858	2170	4	investors	investor	NOUN
cblr-13858	2170	5	could	could	AUX
cblr-13858	2170	6	lose	lose	VERB
cblr-13858	2170	7	in	in	ADP
cblr-13858	2170	8	that	that	DET
cblr-13858	2170	9	offering	offering	NOUN
cblr-13858	2170	10	is	be	AUX
cblr-13858	2170	11	$	$	SYM
cblr-13858	2170	12	20,000	20,000	NUM
cblr-13858	2170	13	.	.	PUNCT
cblr-13858	2171	1	even	even	ADV
cblr-13858	2171	2	if	if	SCONJ
cblr-13858	2171	3	registration	registration	NOUN
cblr-13858	2171	4	could	could	AUX
cblr-13858	2171	5	reduce	reduce	VERB
cblr-13858	2171	6	the	the	DET
cblr-13858	2171	7	probability	probability	NOUN
cblr-13858	2171	8	of	of	ADP
cblr-13858	2171	9	any	any	DET
cblr-13858	2171	10	loss	loss	NOUN
cblr-13858	2171	11	to	to	ADP
cblr-13858	2171	12	zero	zero	NUM
cblr-13858	2171	13	,	,	PUNCT
cblr-13858	2171	14	the	the	DET
cblr-13858	2171	15	maximum	maximum	ADJ
cblr-13858	2171	16	possible	possible	ADJ
cblr-13858	2171	17	benefit	benefit	NOUN
cblr-13858	2171	18	of	of	ADP
cblr-13858	2171	19	registration	registration	NOUN
cblr-13858	2171	20	would	would	AUX
cblr-13858	2171	21	only	only	ADV
cblr-13858	2171	22	be	be	AUX
cblr-13858	2171	23	$	$	SYM
cblr-13858	2171	24	20,000	20,000	NUM
cblr-13858	2171	25	.	.	PUNCT
cblr-13858	2172	1	the	the	DET
cblr-13858	2172	2	cost	cost	NOUN
cblr-13858	2172	3	to	to	PART
cblr-13858	2172	4	register	register	VERB
cblr-13858	2172	5	an	an	DET
cblr-13858	2172	6	offering	offering	NOUN
cblr-13858	2172	7	is	be	AUX
cblr-13858	2172	8	substantially	substantially	ADV
cblr-13858	2172	9	more	more	ADJ
cblr-13858	2172	10	than	than	ADP
cblr-13858	2172	11	$	$	SYM
cblr-13858	2172	12	20,000	20,000	NUM
cblr-13858	2172	13	,	,	PUNCT
cblr-13858	2172	14	so	so	ADV
cblr-13858	2172	15	requiring	require	VERB
cblr-13858	2172	16	registration	registration	NOUN
cblr-13858	2172	17	of	of	ADP
cblr-13858	2172	18	the	the	DET
cblr-13858	2172	19	offering	offering	NOUN
cblr-13858	2172	20	costs	cost	VERB
cblr-13858	2172	21	more	more	ADJ
cblr-13858	2172	22	than	than	ADP
cblr-13858	2172	23	allowing	allow	VERB
cblr-13858	2172	24	investors	investor	NOUN
cblr-13858	2172	25	to	to	PART
cblr-13858	2172	26	bear	bear	VERB
cblr-13858	2172	27	the	the	DET
cblr-13858	2172	28	risks	risk	NOUN
cblr-13858	2172	29	of	of	ADP
cblr-13858	2172	30	an	an	DET
cblr-13858	2172	31	unregistered	unregistered	ADJ
cblr-13858	2172	32	offering	offering	NOUN
cblr-13858	2172	33	.	.	PUNCT
cblr-13858	2173	1	the	the	DET
cblr-13858	2173	2	case	case	NOUN
cblr-13858	2173	3	for	for	ADP
cblr-13858	2173	4	exempting	exempt	VERB
cblr-13858	2173	5	a	a	DET
cblr-13858	2173	6	$	$	SYM
cblr-13858	2173	7	20,000	20,000	NUM
cblr-13858	2173	8	offering	offering	NOUN
cblr-13858	2173	9	is	be	AUX
cblr-13858	2173	10	thus	thus	ADV
cblr-13858	2173	11	fairly	fairly	ADV
cblr-13858	2173	12	obvious	obvious	ADJ
cblr-13858	2173	13	,	,	PUNCT
cblr-13858	2173	14	but	but	CCONJ
cblr-13858	2173	15	the	the	DET
cblr-13858	2173	16	exact	exact	ADJ
cblr-13858	2173	17	level	level	NOUN
cblr-13858	2173	18	at	at	ADP
cblr-13858	2173	19	which	which	PRON
cblr-13858	2173	20	registration	registration	NOUN
cblr-13858	2173	21	ceases	cease	VERB
cblr-13858	2173	22	to	to	PART
cblr-13858	2173	23	be	be	AUX
cblr-13858	2173	24	cost	cost	NOUN
cblr-13858	2173	25	-	-	PUNCT
cblr-13858	2173	26	effective	effective	ADJ
cblr-13858	2173	27	is	be	AUX
cblr-13858	2173	28	less	less	ADV
cblr-13858	2173	29	clear	clear	ADJ
cblr-13858	2173	30	.	.	PUNCT
cblr-13858	2174	1	if	if	SCONJ
cblr-13858	2174	2	the	the	DET
cblr-13858	2174	3	exemption	exemption	NOUN
cblr-13858	2174	4	is	be	AUX
cblr-13858	2174	5	not	not	PART
cblr-13858	2174	6	absoluteif	absoluteif	ADJ
cblr-13858	2174	7	it	it	PRON
cblr-13858	2174	8	includes	include	VERB
cblr-13858	2174	9	requirements	requirement	NOUN
cblr-13858	2174	10	designed	design	VERB
cblr-13858	2174	11	to	to	PART
cblr-13858	2174	12	protect	protect	VERB
cblr-13858	2174	13	investors	investor	NOUN
cblr-13858	2174	14	-	-	PUNCT
cblr-13858	2174	15	a	a	DET
cblr-13858	2174	16	higher	high	ADJ
cblr-13858	2174	17	limit	limit	NOUN
cblr-13858	2174	18	makes	make	VERB
cblr-13858	2174	19	sense.60	sense.60	PROPN
cblr-13858	2174	20	9	9	NUM
cblr-13858	2174	21	the	the	DET
cblr-13858	2174	22	proposed	propose	VERB
cblr-13858	2174	23	limits	limit	NOUN
cblr-13858	2174	24	in	in	ADP
cblr-13858	2174	25	the	the	DET
cblr-13858	2174	26	various	various	ADJ
cblr-13858	2174	27	crowdfunding	crowdfunding	NOUN
cblr-13858	2174	28	exemption	exemption	NOUN
cblr-13858	2174	29	proposals	proposal	NOUN
cblr-13858	2174	30	range	range	VERB
cblr-13858	2174	31	from	from	ADP
cblr-13858	2174	32	$	$	SYM
cblr-13858	2174	33	100,000	100,000	NUM
cblr-13858	2174	34	to	to	PART
cblr-13858	2174	35	$	$	SYM
cblr-13858	2174	36	2	2	NUM
cblr-13858	2174	37	million.610	million.610	NUM
cblr-13858	2174	38	there	there	PRON
cblr-13858	2174	39	is	be	VERB
cblr-13858	2174	40	no	no	DET
cblr-13858	2174	41	magic	magic	ADJ
cblr-13858	2174	42	number	number	NOUN
cblr-13858	2174	43	.	.	PUNCT
cblr-13858	2175	1	given	give	VERB
cblr-13858	2175	2	6	6	NUM
cblr-13858	2175	3	see	see	NOUN
cblr-13858	2175	4	bradford	bradford	NOUN
cblr-13858	2175	5	,	,	PUNCT
cblr-13858	2175	6	securities	security	NOUN
cblr-13858	2175	7	regulation	regulation	NOUN
cblr-13858	2175	8	and	and	CCONJ
cblr-13858	2175	9	small	small	ADJ
cblr-13858	2175	10	business	business	NOUN
cblr-13858	2175	11	,	,	PUNCT
cblr-13858	2175	12	supra	supra	PROPN
cblr-13858	2175	13	note	note	PROPN
cblr-13858	2175	14	605	605	NUM
cblr-13858	2175	15	,	,	PUNCT
cblr-13858	2175	16	at	at	ADP
cblr-13858	2175	17	29	29	NUM
cblr-13858	2175	18	-	-	SYM
cblr-13858	2175	19	33	33	NUM
cblr-13858	2175	20	.	.	PUNCT
cblr-13858	2176	1	607	607	NUM
cblr-13858	2176	2	assume	assume	VERB
cblr-13858	2176	3	,	,	PUNCT
cblr-13858	2176	4	for	for	ADP
cblr-13858	2176	5	example	example	NOUN
cblr-13858	2176	6	,	,	PUNCT
cblr-13858	2176	7	that	that	SCONJ
cblr-13858	2176	8	the	the	DET
cblr-13858	2176	9	average	average	ADJ
cblr-13858	2176	10	loss	loss	NOUN
cblr-13858	2176	11	in	in	ADP
cblr-13858	2176	12	smaller	small	ADJ
cblr-13858	2176	13	offerings	offering	NOUN
cblr-13858	2176	14	for	for	ADP
cblr-13858	2176	15	all	all	DET
cblr-13858	2176	16	reasons	reason	NOUN
cblr-13858	2176	17	,	,	PUNCT
cblr-13858	2176	18	including	include	VERB
cblr-13858	2176	19	fraud	fraud	NOUN
cblr-13858	2176	20	,	,	PUNCT
cblr-13858	2176	21	is	be	AUX
cblr-13858	2176	22	60	60	NUM
cblr-13858	2176	23	%	%	NOUN
cblr-13858	2176	24	of	of	ADP
cblr-13858	2176	25	the	the	DET
cblr-13858	2176	26	amount	amount	NOUN
cblr-13858	2176	27	invested	invest	VERB
cblr-13858	2176	28	.	.	PUNCT
cblr-13858	2177	1	now	now	ADV
cblr-13858	2177	2	make	make	VERB
cblr-13858	2177	3	the	the	DET
cblr-13858	2177	4	unlikely	unlikely	ADJ
cblr-13858	2177	5	assumption	assumption	NOUN
cblr-13858	2177	6	that	that	SCONJ
cblr-13858	2177	7	registration	registration	NOUN
cblr-13858	2177	8	would	would	AUX
cblr-13858	2177	9	prevent	prevent	VERB
cblr-13858	2177	10	all	all	DET
cblr-13858	2177	11	those	those	DET
cblr-13858	2177	12	losses	loss	NOUN
cblr-13858	2177	13	.	.	PUNCT
cblr-13858	2178	1	if	if	SCONJ
cblr-13858	2178	2	the	the	DET
cblr-13858	2178	3	total	total	ADJ
cblr-13858	2178	4	cost	cost	NOUN
cblr-13858	2178	5	of	of	ADP
cblr-13858	2178	6	registering	register	VERB
cblr-13858	2178	7	a	a	DET
cblr-13858	2178	8	$	$	SYM
cblr-13858	2178	9	100,000	100,000	NUM
cblr-13858	2178	10	offering	offering	NOUN
cblr-13858	2178	11	is	be	AUX
cblr-13858	2178	12	$	$	SYM
cblr-13858	2178	13	70,000	70,000	NUM
cblr-13858	2178	14	,	,	PUNCT
cblr-13858	2178	15	it	it	PRON
cblr-13858	2178	16	still	still	ADV
cblr-13858	2178	17	makes	make	VERB
cblr-13858	2178	18	sense	sense	NOUN
cblr-13858	2178	19	to	to	PART
cblr-13858	2178	20	exempt	exempt	VERB
cblr-13858	2178	21	such	such	ADJ
cblr-13858	2178	22	offerings	offering	NOUN
cblr-13858	2178	23	.	.	PUNCT
cblr-13858	2179	1	in	in	ADP
cblr-13858	2179	2	the	the	DET
cblr-13858	2179	3	absence	absence	NOUN
cblr-13858	2179	4	of	of	ADP
cblr-13858	2179	5	registration	registration	NOUN
cblr-13858	2179	6	,	,	PUNCT
cblr-13858	2179	7	the	the	DET
cblr-13858	2179	8	average	average	ADJ
cblr-13858	2179	9	loss	loss	NOUN
cblr-13858	2179	10	will	will	AUX
cblr-13858	2179	11	be	be	AUX
cblr-13858	2179	12	$	$	SYM
cblr-13858	2179	13	60,000	60,000	NUM
cblr-13858	2179	14	,	,	PUNCT
cblr-13858	2179	15	but	but	CCONJ
cblr-13858	2179	16	registration	registration	NOUN
cblr-13858	2179	17	imposes	impose	VERB
cblr-13858	2179	18	an	an	DET
cblr-13858	2179	19	even	even	ADV
cblr-13858	2179	20	greater	great	ADJ
cblr-13858	2179	21	cost	cost	NOUN
cblr-13858	2179	22	of	of	ADP
cblr-13858	2179	23	$	$	SYM
cblr-13858	2179	24	70,000	70,000	NUM
cblr-13858	2179	25	.	.	PUNCT
cblr-13858	2180	1	society	society	NOUN
cblr-13858	2180	2	is	be	AUX
cblr-13858	2180	3	better	well	ADJ
cblr-13858	2180	4	off	off	ADP
cblr-13858	2180	5	exempting	exempt	VERB
cblr-13858	2180	6	such	such	ADJ
cblr-13858	2180	7	offerings	offering	NOUN
cblr-13858	2180	8	.	.	PUNCT
cblr-13858	2181	1	see	see	VERB
cblr-13858	2181	2	i	i	PRON
cblr-13858	2181	3	d.	d.	PROPN
cblr-13858	2181	4	at	at	ADP
cblr-13858	2181	5	39	39	NUM
cblr-13858	2181	6	-	-	SYM
cblr-13858	2181	7	47	47	NUM
cblr-13858	2181	8	(	(	PUNCT
cblr-13858	2181	9	calculating	calculate	VERB
cblr-13858	2181	10	the	the	DET
cblr-13858	2181	11	optimal	optimal	ADJ
cblr-13858	2181	12	exemption	exemption	NOUN
cblr-13858	2181	13	amount	amount	NOUN
cblr-13858	2181	14	,	,	PUNCT
cblr-13858	2181	15	given	give	VERB
cblr-13858	2181	16	various	various	ADJ
cblr-13858	2181	17	assumptions	assumption	NOUN
cblr-13858	2181	18	about	about	ADP
cblr-13858	2181	19	fixed	fix	VERB
cblr-13858	2181	20	costs	cost	NOUN
cblr-13858	2181	21	,	,	PUNCT
cblr-13858	2181	22	the	the	DET
cblr-13858	2181	23	proportion	proportion	NOUN
cblr-13858	2181	24	of	of	ADP
cblr-13858	2181	25	losses	loss	NOUN
cblr-13858	2181	26	,	,	PUNCT
cblr-13858	2181	27	and	and	CCONJ
cblr-13858	2181	28	the	the	DET
cblr-13858	2181	29	proportion	proportion	NOUN
cblr-13858	2181	30	of	of	ADP
cblr-13858	2181	31	losses	loss	NOUN
cblr-13858	2181	32	prevented	prevent	VERB
cblr-13858	2181	33	by	by	ADP
cblr-13858	2181	34	registration	registration	NOUN
cblr-13858	2181	35	)	)	PUNCT
cblr-13858	2181	36	.	.	PUNCT
cblr-13858	2181	37	'	'	PUNCT
cblr-13858	2182	1	see	see	VERB
cblr-13858	2182	2	bradford	bradford	NOUN
cblr-13858	2182	3	,	,	PUNCT
cblr-13858	2182	4	securities	security	NOUN
cblr-13858	2182	5	regulation	regulation	NOUN
cblr-13858	2182	6	and	and	CCONJ
cblr-13858	2182	7	small	small	ADJ
cblr-13858	2182	8	business	business	NOUN
cblr-13858	2182	9	,	,	PUNCT
cblr-13858	2182	10	supra	supra	PROPN
cblr-13858	2182	11	note	note	PROPN
cblr-13858	2182	12	605	605	NUM
cblr-13858	2182	13	,	,	PUNCT
cblr-13858	2182	14	at	at	ADP
cblr-13858	2182	15	24	24	NUM
cblr-13858	2182	16	-	-	SYM
cblr-13858	2182	17	27	27	NUM
cblr-13858	2182	18	;	;	PUNCT
cblr-13858	2182	19	bradford	bradford	NOUN
cblr-13858	2182	20	,	,	PUNCT
cblr-13858	2182	21	does	do	VERB
cblr-13858	2182	22	size	size	NOUN
cblr-13858	2182	23	matter	matter	NOUN
cblr-13858	2182	24	?	?	PUNCT
cblr-13858	2182	25	,	,	PUNCT
cblr-13858	2182	26	supra	supra	PROPN
cblr-13858	2182	27	note	note	PROPN
cblr-13858	2182	28	605	605	NUM
cblr-13858	2182	29	,	,	PUNCT
cblr-13858	2182	30	at	at	ADP
cblr-13858	2182	31	5	5	NUM
cblr-13858	2182	32	-	-	SYM
cblr-13858	2182	33	15	15	NUM
cblr-13858	2182	34	.	.	NOUN
cblr-13858	2182	35	6	6	NUM
cblr-13858	2182	36	see	see	NOUN
cblr-13858	2182	37	bradford	bradford	NOUN
cblr-13858	2182	38	,	,	PUNCT
cblr-13858	2182	39	transaction	transaction	NOUN
cblr-13858	2182	40	exemptions	exemption	NOUN
cblr-13858	2182	41	,	,	PUNCT
cblr-13858	2182	42	supra	supra	PROPN
cblr-13858	2182	43	note	note	PROPN
cblr-13858	2182	44	509	509	NUM
cblr-13858	2182	45	,	,	PUNCT
cblr-13858	2182	46	at	at	ADP
cblr-13858	2182	47	618	618	NUM
cblr-13858	2182	48	-	-	SYM
cblr-13858	2182	49	22	22	NUM
cblr-13858	2182	50	(	(	PUNCT
cblr-13858	2182	51	explaining	explain	VERB
cblr-13858	2182	52	the	the	DET
cblr-13858	2182	53	efficiency	efficiency	NOUN
cblr-13858	2182	54	of	of	ADP
cblr-13858	2182	55	intermediate	intermediate	ADJ
cblr-13858	2182	56	,	,	PUNCT
cblr-13858	2182	57	conditional	conditional	ADJ
cblr-13858	2182	58	exemptions	exemption	NOUN
cblr-13858	2182	59	)	)	PUNCT
cblr-13858	2182	60	.	.	PUNCT
cblr-13858	2183	1	610	610	NUM
cblr-13858	2183	2	see	see	VERB
cblr-13858	2183	3	supra	supra	PROPN
cblr-13858	2183	4	part	part	NOUN
cblr-13858	2183	5	v.	v.	ADP
cblr-13858	2183	6	no	no	INTJ
cblr-13858	2183	7	.	.	PUNCT
cblr-13858	2184	1	1:1	1:1	NUM
cblr-13858	2184	2	]	]	X
cblr-13858	2184	3	119	119	NUM
cblr-13858	2184	4	120	120	NUM
cblr-13858	2184	5	columbia	columbia	PROPN
cblr-13858	2184	6	business	business	NOUN
cblr-13858	2184	7	law	law	PROPN
cblr-13858	2184	8	review	review	NOUN
cblr-13858	2185	1	[	[	X
cblr-13858	2185	2	vol	vol	NOUN
cblr-13858	2185	3	.	.	PUNCT
cblr-13858	2185	4	2012	2012	NUM
cblr-13858	2185	5	the	the	DET
cblr-13858	2185	6	cost	cost	NOUN
cblr-13858	2185	7	of	of	ADP
cblr-13858	2185	8	registering	register	VERB
cblr-13858	2185	9	an	an	DET
cblr-13858	2185	10	offering,6	offering,6	NOUN
cblr-13858	2185	11	"	"	PUNCT
cblr-13858	2185	12	the	the	DET
cblr-13858	2185	13	case	case	NOUN
cblr-13858	2185	14	for	for	ADP
cblr-13858	2185	15	exempting	exempt	VERB
cblr-13858	2185	16	offerings	offering	NOUN
cblr-13858	2185	17	of	of	ADP
cblr-13858	2185	18	less	less	ADJ
cblr-13858	2185	19	than	than	ADP
cblr-13858	2185	20	$	$	SYM
cblr-13858	2185	21	250,000	250,000	NUM
cblr-13858	2185	22	to	to	PART
cblr-13858	2185	23	$	$	SYM
cblr-13858	2185	24	500,000	500,000	NUM
cblr-13858	2185	25	is	be	AUX
cblr-13858	2185	26	solid	solid	ADJ
cblr-13858	2185	27	.	.	PUNCT
cblr-13858	2186	1	a	a	DET
cblr-13858	2186	2	plausible	plausible	ADJ
cblr-13858	2186	3	case	case	NOUN
cblr-13858	2186	4	can	can	AUX
cblr-13858	2186	5	be	be	AUX
cblr-13858	2186	6	made	make	VERB
cblr-13858	2186	7	for	for	ADP
cblr-13858	2186	8	exempting	exempt	VERB
cblr-13858	2186	9	larger	large	ADJ
cblr-13858	2186	10	offerings	offering	NOUN
cblr-13858	2186	11	,	,	PUNCT
cblr-13858	2186	12	particularly	particularly	ADV
cblr-13858	2186	13	with	with	ADP
cblr-13858	2186	14	a	a	DET
cblr-13858	2186	15	strong	strong	ADJ
cblr-13858	2186	16	limit	limit	NOUN
cblr-13858	2186	17	on	on	ADP
cblr-13858	2186	18	the	the	DET
cblr-13858	2186	19	amount	amount	NOUN
cblr-13858	2186	20	of	of	ADP
cblr-13858	2186	21	each	each	DET
cblr-13858	2186	22	person	person	NOUN
cblr-13858	2186	23	's	's	PART
cblr-13858	2186	24	investment	investment	NOUN
cblr-13858	2186	25	.	.	PUNCT
cblr-13858	2187	1	but	but	CCONJ
cblr-13858	2187	2	an	an	DET
cblr-13858	2187	3	exemption	exemption	NOUN
cblr-13858	2187	4	limit	limit	NOUN
cblr-13858	2187	5	above	above	ADP
cblr-13858	2187	6	$	$	SYM
cblr-13858	2187	7	500,000	500,000	NUM
cblr-13858	2187	8	requires	require	VERB
cblr-13858	2187	9	stronger	strong	ADJ
cblr-13858	2187	10	assumptions	assumption	NOUN
cblr-13858	2187	11	about	about	ADP
cblr-13858	2187	12	the	the	DET
cblr-13858	2187	13	cost	cost	NOUN
cblr-13858	2187	14	of	of	ADP
cblr-13858	2187	15	registration	registration	NOUN
cblr-13858	2187	16	,	,	PUNCT
cblr-13858	2187	17	the	the	DET
cblr-13858	2187	18	risk	risk	NOUN
cblr-13858	2187	19	of	of	ADP
cblr-13858	2187	20	loss	loss	NOUN
cblr-13858	2187	21	,	,	PUNCT
cblr-13858	2187	22	and	and	CCONJ
cblr-13858	2187	23	the	the	DET
cblr-13858	2187	24	extent	extent	NOUN
cblr-13858	2187	25	to	to	PART
cblr-13858	2187	26	which	which	PRON
cblr-13858	2187	27	registration	registration	NOUN
cblr-13858	2187	28	reduces	reduce	VERB
cblr-13858	2187	29	that	that	PRON
cblr-13858	2187	30	risk.612	risk.612	NOUN
cblr-13858	2187	31	2	2	NUM
cblr-13858	2187	32	.	.	PUNCT
cblr-13858	2187	33	aggregation	aggregation	NOUN
cblr-13858	2187	34	/	/	SYM
cblr-13858	2187	35	integration	integration	NOUN
cblr-13858	2187	36	any	any	DET
cblr-13858	2187	37	proposal	proposal	NOUN
cblr-13858	2187	38	for	for	ADP
cblr-13858	2187	39	a	a	DET
cblr-13858	2187	40	securities	security	NOUN
cblr-13858	2187	41	act	act	NOUN
cblr-13858	2187	42	exemption	exemption	NOUN
cblr-13858	2187	43	must	must	AUX
cblr-13858	2187	44	deal	deal	VERB
cblr-13858	2187	45	with	with	ADP
cblr-13858	2187	46	the	the	DET
cblr-13858	2187	47	frustrating	frustrating	ADJ
cblr-13858	2187	48	problem	problem	NOUN
cblr-13858	2187	49	of	of	ADP
cblr-13858	2187	50	integration	integration	NOUN
cblr-13858	2187	51	-	-	PUNCT
cblr-13858	2187	52	that	that	ADV
cblr-13858	2187	53	is	be	AUX
cblr-13858	2187	54	,	,	PUNCT
cblr-13858	2187	55	whether	whether	SCONJ
cblr-13858	2187	56	two	two	NUM
cblr-13858	2187	57	offerings	offering	NOUN
cblr-13858	2187	58	that	that	PRON
cblr-13858	2187	59	are	be	AUX
cblr-13858	2187	60	ostensibly	ostensibly	ADV
cblr-13858	2187	61	separate	separate	ADJ
cblr-13858	2187	62	should	should	AUX
cblr-13858	2187	63	be	be	AUX
cblr-13858	2187	64	treated	treat	VERB
cblr-13858	2187	65	as	as	ADP
cblr-13858	2187	66	part	part	NOUN
cblr-13858	2187	67	of	of	ADP
cblr-13858	2187	68	the	the	DET
cblr-13858	2187	69	same	same	ADJ
cblr-13858	2187	70	offering	offering	NOUN
cblr-13858	2187	71	.	.	PUNCT
cblr-13858	2188	1	"	"	PUNCT
cblr-13858	2188	2	'	'	PUNCT
cblr-13858	2188	3	the	the	DET
cblr-13858	2188	4	integration	integration	NOUN
cblr-13858	2188	5	doctrine	doctrine	NOUN
cblr-13858	2188	6	was	be	AUX
cblr-13858	2188	7	developed	develop	VERB
cblr-13858	2188	8	by	by	ADP
cblr-13858	2188	9	the	the	DET
cblr-13858	2188	10	sec	sec	PROPN
cblr-13858	2188	11	"	"	PUNCT
cblr-13858	2188	12	to	to	PART
cblr-13858	2188	13	prevent	prevent	VERB
cblr-13858	2188	14	issuers	issuer	NOUN
cblr-13858	2188	15	from	from	ADP
cblr-13858	2188	16	artificially	artificially	ADV
cblr-13858	2188	17	dividing	divide	VERB
cblr-13858	2188	18	a	a	DET
cblr-13858	2188	19	single	single	ADJ
cblr-13858	2188	20	,	,	PUNCT
cblr-13858	2188	21	non	non	ADJ
cblr-13858	2188	22	-	-	ADJ
cblr-13858	2188	23	exempt	exempt	ADJ
cblr-13858	2188	24	offering	offering	NOUN
cblr-13858	2188	25	into	into	ADP
cblr-13858	2188	26	two	two	NUM
cblr-13858	2188	27	or	or	CCONJ
cblr-13858	2188	28	more	more	ADJ
cblr-13858	2188	29	parts	part	NOUN
cblr-13858	2188	30	in	in	ADP
cblr-13858	2188	31	an	an	DET
cblr-13858	2188	32	attempt	attempt	NOUN
cblr-13858	2188	33	to	to	PART
cblr-13858	2188	34	obtain	obtain	VERB
cblr-13858	2188	35	an	an	DET
cblr-13858	2188	36	exemption	exemption	NOUN
cblr-13858	2188	37	for	for	ADP
cblr-13858	2188	38	one	one	NUM
cblr-13858	2188	39	or	or	CCONJ
cblr-13858	2188	40	more	more	ADJ
cblr-13858	2188	41	of	of	ADP
cblr-13858	2188	42	the	the	DET
cblr-13858	2188	43	parts	part	NOUN
cblr-13858	2188	44	.	.	PUNCT
cblr-13858	2189	1	"14	"14	ADJ
cblr-13858	2189	2	integrating	integrate	VERB
cblr-13858	2189	3	two	two	NUM
cblr-13858	2189	4	offerings	offering	NOUN
cblr-13858	2189	5	could	could	AUX
cblr-13858	2189	6	result	result	VERB
cblr-13858	2189	7	in	in	ADP
cblr-13858	2189	8	the	the	DET
cblr-13858	2189	9	loss	loss	NOUN
cblr-13858	2189	10	of	of	ADP
cblr-13858	2189	11	each	each	DET
cblr-13858	2189	12	offering	offering	NOUN
cblr-13858	2189	13	's	's	PART
cblr-13858	2189	14	exemption	exemption	NOUN
cblr-13858	2189	15	.	.	PUNCT
cblr-13858	2190	1	unfortunately	unfortunately	ADV
cblr-13858	2190	2	,	,	PUNCT
cblr-13858	2190	3	the	the	DET
cblr-13858	2190	4	integration	integration	NOUN
cblr-13858	2190	5	doctrine	doctrine	NOUN
cblr-13858	2190	6	is	be	AUX
cblr-13858	2190	7	an	an	DET
cblr-13858	2190	8	uncertain	uncertain	ADJ
cblr-13858	2190	9	,	,	PUNCT
cblr-13858	2190	10	confusing	confusing	ADJ
cblr-13858	2190	11	mess.615	mess.615	NOUN
cblr-13858	2190	12	scholars	scholar	NOUN
cblr-13858	2190	13	have	have	AUX
cblr-13858	2190	14	proposed	propose	VERB
cblr-13858	2190	15	its	its	PRON
cblr-13858	2190	16	elimination	elimination	NOUN
cblr-13858	2190	17	616	616	NUM
cblr-13858	2190	18	or	or	CCONJ
cblr-13858	2190	19	substantial	substantial	ADJ
cblr-13858	2190	20	modification	modification	NOUN
cblr-13858	2190	21	,	,	PUNCT
cblr-13858	2190	22	"	"	PUNCT
cblr-13858	2190	23	'	'	PUNCT
cblr-13858	2190	24	and	and	CCONJ
cblr-13858	2190	25	the	the	DET
cblr-13858	2190	26	sec	sec	PROPN
cblr-13858	2190	27	itself	itself	PRON
cblr-13858	2190	28	has	have	AUX
cblr-13858	2190	29	created	create	VERB
cblr-13858	2190	30	several	several	ADJ
cblr-13858	2190	31	safe	safe	ADJ
cblr-13858	2190	32	harbors	harbor	NOUN
cblr-13858	2190	33	that	that	PRON
cblr-13858	2190	34	protect	protect	VERB
cblr-13858	2190	35	against	against	ADP
cblr-13858	2190	36	application	application	NOUN
cblr-13858	2190	37	of	of	ADP
cblr-13858	2190	38	the	the	DET
cblr-13858	2190	39	doctrine	doctrine	NOUN
cblr-13858	2190	40	.	.	PUNCT
cblr-13858	2191	1	"	"	PUNCT
cblr-13858	2191	2	'	'	PUNCT
cblr-13858	2191	3	611	611	NUM
cblr-13858	2191	4	see	see	VERB
cblr-13858	2191	5	supra	supra	PROPN
cblr-13858	2191	6	part	part	PROPN
cblr-13858	2191	7	iii.b.1	iii.b.1	X
cblr-13858	2191	8	.	.	PUNCT
cblr-13858	2191	9	612	612	NUM
cblr-13858	2191	10	for	for	ADP
cblr-13858	2191	11	a	a	DET
cblr-13858	2191	12	set	set	NOUN
cblr-13858	2191	13	of	of	ADP
cblr-13858	2191	14	hypothetical	hypothetical	ADJ
cblr-13858	2191	15	calculations	calculation	NOUN
cblr-13858	2191	16	,	,	PUNCT
cblr-13858	2191	17	see	see	VERB
cblr-13858	2191	18	bradford	bradford	NOUN
cblr-13858	2191	19	,	,	PUNCT
cblr-13858	2191	20	securities	security	NOUN
cblr-13858	2191	21	regulation	regulation	NOUN
cblr-13858	2191	22	and	and	CCONJ
cblr-13858	2191	23	small	small	ADJ
cblr-13858	2191	24	business	business	NOUN
cblr-13858	2191	25	,	,	PUNCT
cblr-13858	2191	26	supra	supra	PROPN
cblr-13858	2191	27	note	note	PROPN
cblr-13858	2191	28	605	605	NUM
cblr-13858	2191	29	,	,	PUNCT
cblr-13858	2191	30	at	at	ADP
cblr-13858	2191	31	47	47	NUM
cblr-13858	2191	32	.	.	PUNCT
cblr-13858	2192	1	613	613	NUM
cblr-13858	2192	2	for	for	ADP
cblr-13858	2192	3	a	a	DET
cblr-13858	2192	4	general	general	ADJ
cblr-13858	2192	5	introduction	introduction	NOUN
cblr-13858	2192	6	to	to	ADP
cblr-13858	2192	7	integration	integration	NOUN
cblr-13858	2192	8	,	,	PUNCT
cblr-13858	2192	9	see	see	VERB
cblr-13858	2192	10	bradford	bradford	NOUN
cblr-13858	2192	11	,	,	PUNCT
cblr-13858	2192	12	transaction	transaction	NOUN
cblr-13858	2192	13	exemptions	exemption	NOUN
cblr-13858	2192	14	,	,	PUNCT
cblr-13858	2192	15	supra	supra	PROPN
cblr-13858	2192	16	note	note	PROPN
cblr-13858	2192	17	509	509	NUM
cblr-13858	2192	18	,	,	PUNCT
cblr-13858	2192	19	at	at	ADP
cblr-13858	2192	20	649	649	NUM
cblr-13858	2192	21	-	-	SYM
cblr-13858	2192	22	57	57	NUM
cblr-13858	2192	23	.	.	PUNCT
cblr-13858	2193	1	614	614	NUM
cblr-13858	2193	2	i	i	PRON
cblr-13858	2193	3	d.	d.	NOUN
cblr-13858	2193	4	at	at	ADP
cblr-13858	2193	5	649	649	NUM
cblr-13858	2193	6	.	.	PUNCT
cblr-13858	2194	1	see	see	VERB
cblr-13858	2194	2	also	also	ADV
cblr-13858	2194	3	darryl	darryl	PROPN
cblr-13858	2194	4	b.	b.	PROPN
cblr-13858	2194	5	deaktor	deaktor	PROPN
cblr-13858	2194	6	,	,	PUNCT
cblr-13858	2194	7	integration	integration	NOUN
cblr-13858	2194	8	of	of	ADP
cblr-13858	2194	9	securities	security	NOUN
cblr-13858	2194	10	offerings	offering	NOUN
cblr-13858	2194	11	,	,	PUNCT
cblr-13858	2194	12	31	31	NUM
cblr-13858	2194	13	u.	u.	PROPN
cblr-13858	2194	14	fla	fla	PROPN
cblr-13858	2194	15	.	.	PUNCT
cblr-13858	2195	1	l.	l.	PROPN
cblr-13858	2195	2	rev	rev	PROPN
cblr-13858	2195	3	.	.	PROPN
cblr-13858	2195	4	465	465	NUM
cblr-13858	2195	5	,	,	PUNCT
cblr-13858	2195	6	473	473	NUM
cblr-13858	2195	7	(	(	PUNCT
cblr-13858	2195	8	1979	1979	NUM
cblr-13858	2195	9	)	)	PUNCT
cblr-13858	2195	10	.	.	PUNCT
cblr-13858	2196	1	615	615	NUM
cblr-13858	2196	2	see	see	VERB
cblr-13858	2196	3	bradford	bradford	NOUN
cblr-13858	2196	4	,	,	PUNCT
cblr-13858	2196	5	transaction	transaction	NOUN
cblr-13858	2196	6	exemptions	exemption	NOUN
cblr-13858	2196	7	,	,	PUNCT
cblr-13858	2196	8	supra	supra	PROPN
cblr-13858	2196	9	note	note	PROPN
cblr-13858	2196	10	509	509	NUM
cblr-13858	2196	11	,	,	PUNCT
cblr-13858	2196	12	at	at	ADP
cblr-13858	2196	13	651	651	NUM
cblr-13858	2196	14	-	-	SYM
cblr-13858	2196	15	52	52	NUM
cblr-13858	2196	16	(	(	PUNCT
cblr-13858	2196	17	discussing	discuss	VERB
cblr-13858	2196	18	the	the	DET
cblr-13858	2196	19	lack	lack	NOUN
cblr-13858	2196	20	of	of	ADP
cblr-13858	2196	21	clarity	clarity	NOUN
cblr-13858	2196	22	in	in	ADP
cblr-13858	2196	23	sec	sec	PROPN
cblr-13858	2196	24	releases	release	NOUN
cblr-13858	2196	25	that	that	PRON
cblr-13858	2196	26	detail	detail	VERB
cblr-13858	2196	27	the	the	DET
cblr-13858	2196	28	standard	standard	NOUN
cblr-13858	2196	29	for	for	ADP
cblr-13858	2196	30	integrated	integrated	ADJ
cblr-13858	2196	31	offerings	offering	NOUN
cblr-13858	2196	32	)	)	PUNCT
cblr-13858	2196	33	.	.	PUNCT
cblr-13858	2197	1	616	616	NUM
cblr-13858	2197	2	see	see	VERB
cblr-13858	2197	3	rutheford	rutheford	PROPN
cblr-13858	2197	4	b.	b.	PROPN
cblr-13858	2197	5	campbell	campbell	PROPN
cblr-13858	2197	6	,	,	PUNCT
cblr-13858	2197	7	jr	jr	PROPN
cblr-13858	2197	8	.	.	PROPN
cblr-13858	2197	9	,	,	PUNCT
cblr-13858	2197	10	the	the	DET
cblr-13858	2197	11	overwhelming	overwhelming	ADJ
cblr-13858	2197	12	case	case	NOUN
cblr-13858	2197	13	for	for	ADP
cblr-13858	2197	14	elimination	elimination	NOUN
cblr-13858	2197	15	of	of	ADP
cblr-13858	2197	16	the	the	DET
cblr-13858	2197	17	integration	integration	NOUN
cblr-13858	2197	18	doctrine	doctrine	NOUN
cblr-13858	2197	19	under	under	ADP
cblr-13858	2197	20	the	the	DET
cblr-13858	2197	21	securities	security	NOUN
cblr-13858	2197	22	act	act	NOUN
cblr-13858	2197	23	of	of	ADP
cblr-13858	2197	24	1933	1933	NUM
cblr-13858	2197	25	,	,	PUNCT
cblr-13858	2197	26	89	89	NUM
cblr-13858	2197	27	ky	ky	PROPN
cblr-13858	2197	28	.	.	PUNCT
cblr-13858	2198	1	l.j	l.j	PROPN
cblr-13858	2198	2	.	.	PROPN
cblr-13858	2199	1	289	289	NUM
cblr-13858	2199	2	(	(	PUNCT
cblr-13858	2199	3	2001	2001	NUM
cblr-13858	2199	4	)	)	PUNCT
cblr-13858	2199	5	.	.	PUNCT
cblr-13858	2200	1	617	617	NUM
cblr-13858	2200	2	see	see	VERB
cblr-13858	2200	3	c.	c.	PROPN
cblr-13858	2200	4	steven	steven	PROPN
cblr-13858	2200	5	bradford	bradford	PROPN
cblr-13858	2200	6	,	,	PUNCT
cblr-13858	2200	7	expanding	expand	VERB
cblr-13858	2200	8	the	the	DET
cblr-13858	2200	9	non	non	ADJ
cblr-13858	2200	10	-	-	ADJ
cblr-13858	2200	11	transactional	transactional	ADJ
cblr-13858	2200	12	revolution	revolution	NOUN
cblr-13858	2200	13	:	:	PUNCT
cblr-13858	2200	14	a	a	DET
cblr-13858	2200	15	new	new	ADJ
cblr-13858	2200	16	approach	approach	NOUN
cblr-13858	2200	17	to	to	ADP
cblr-13858	2200	18	securities	security	NOUN
cblr-13858	2200	19	registration	registration	NOUN
cblr-13858	2200	20	exemptions	exemption	NOUN
cblr-13858	2200	21	,	,	PUNCT
cblr-13858	2200	22	49	49	NUM
cblr-13858	2200	23	emory	emory	PROPN
cblr-13858	2200	24	l.j	l.j	PROPN
cblr-13858	2200	25	.	.	PROPN
cblr-13858	2200	26	437	437	NUM
cblr-13858	2200	27	(	(	PUNCT
cblr-13858	2200	28	2000	2000	NUM
cblr-13858	2200	29	)	)	PUNCT
cblr-13858	2200	30	.	.	PUNCT
cblr-13858	2201	1	61	61	NUM
cblr-13858	2201	2	see	see	VERB
cblr-13858	2201	3	bradford	bradford	NOUN
cblr-13858	2201	4	,	,	PUNCT
cblr-13858	2201	5	transaction	transaction	NOUN
cblr-13858	2201	6	exemptions	exemption	NOUN
cblr-13858	2201	7	,	,	PUNCT
cblr-13858	2201	8	supra	supra	PROPN
cblr-13858	2201	9	note	note	PROPN
cblr-13858	2201	10	509	509	NUM
cblr-13858	2201	11	,	,	PUNCT
cblr-13858	2201	12	at	at	ADP
cblr-13858	2201	13	652	652	NUM
cblr-13858	2201	14	-	-	SYM
cblr-13858	2201	15	57	57	NUM
cblr-13858	2201	16	.	.	PUNCT
cblr-13858	2202	1	even	even	ADV
cblr-13858	2202	2	if	if	SCONJ
cblr-13858	2202	3	two	two	NUM
cblr-13858	2202	4	offerings	offering	NOUN
cblr-13858	2202	5	are	be	AUX
cblr-13858	2202	6	not	not	PART
cblr-13858	2202	7	integrated	integrate	VERB
cblr-13858	2202	8	,	,	PUNCT
cblr-13858	2202	9	the	the	DET
cblr-13858	2202	10	related	related	ADJ
cblr-13858	2202	11	concept	concept	NOUN
cblr-13858	2202	12	of	of	ADP
cblr-13858	2202	13	aggregation	aggregation	NOUN
cblr-13858	2202	14	can	can	AUX
cblr-13858	2202	15	pose	pose	VERB
cblr-13858	2202	16	problems	problem	NOUN
cblr-13858	2202	17	for	for	ADP
cblr-13858	2202	18	small	small	ADJ
cblr-13858	2202	19	issuers	issuer	NOUN
cblr-13858	2202	20	.	.	PUNCT
cblr-13858	2203	1	the	the	DET
cblr-13858	2203	2	aggregation	aggregation	NOUN
cblr-13858	2203	3	provisions	provision	NOUN
cblr-13858	2203	4	in	in	ADP
cblr-13858	2203	5	regulation	regulation	NOUN
cblr-13858	2203	6	a	a	PRON
cblr-13858	2203	7	and	and	CCONJ
cblr-13858	2203	8	rules	rule	VERB
cblr-13858	2203	9	504	504	NUM
cblr-13858	2203	10	and	and	CCONJ
cblr-13858	2203	11	505	505	NUM
cblr-13858	2203	12	of	of	ADP
cblr-13858	2203	13	regulation	regulation	NOUN
cblr-13858	2203	14	d	d	AUX
cblr-13858	2203	15	reduce	reduce	VERB
cblr-13858	2203	16	the	the	DET
cblr-13858	2203	17	maximum	maximum	ADJ
cblr-13858	2203	18	amounts	amount	NOUN
cblr-13858	2203	19	available	available	ADJ
cblr-13858	2203	20	under	under	ADP
cblr-13858	2203	21	those	those	DET
cblr-13858	2203	22	exemptions	exemption	NOUN
cblr-13858	2203	23	by	by	ADP
cblr-13858	2203	24	the	the	DET
cblr-13858	2203	25	amount	amount	NOUN
cblr-13858	2203	26	of	of	ADP
cblr-13858	2203	27	certain	certain	ADJ
cblr-13858	2203	28	other	other	ADJ
cblr-13858	2203	29	offerings.6	offerings.6	PROPN
cblr-13858	2203	30	19	19	NUM
cblr-13858	2203	31	the	the	DET
cblr-13858	2203	32	$	$	SYM
cblr-13858	2203	33	1	1	NUM
cblr-13858	2203	34	million	million	NUM
cblr-13858	2203	35	limit	limit	NOUN
cblr-13858	2203	36	in	in	ADP
cblr-13858	2203	37	rule	rule	NOUN
cblr-13858	2203	38	504	504	NUM
cblr-13858	2203	39	would	would	AUX
cblr-13858	2203	40	,	,	PUNCT
cblr-13858	2203	41	for	for	ADP
cblr-13858	2203	42	example	example	NOUN
cblr-13858	2203	43	,	,	PUNCT
cblr-13858	2203	44	be	be	AUX
cblr-13858	2203	45	reduced	reduce	VERB
cblr-13858	2203	46	if	if	SCONJ
cblr-13858	2203	47	the	the	DET
cblr-13858	2203	48	issuer	issuer	NOUN
cblr-13858	2203	49	had	have	AUX
cblr-13858	2203	50	completed	complete	VERB
cblr-13858	2203	51	a	a	DET
cblr-13858	2203	52	regulation	regulation	NOUN
cblr-13858	2203	53	a	a	DET
cblr-13858	2203	54	offering	offering	NOUN
cblr-13858	2203	55	in	in	ADP
cblr-13858	2203	56	the	the	DET
cblr-13858	2203	57	previous	previous	ADJ
cblr-13858	2203	58	twelve	twelve	NUM
cblr-13858	2203	59	months.62	months.62	NOUN
cblr-13858	2203	60	0	0	NUM
cblr-13858	2204	1	the	the	DET
cblr-13858	2204	2	dollar	dollar	NOUN
cblr-13858	2204	3	limit	limit	NOUN
cblr-13858	2204	4	of	of	ADP
cblr-13858	2204	5	any	any	DET
cblr-13858	2204	6	crowdfunding	crowdfunding	NOUN
cblr-13858	2204	7	exemption	exemption	NOUN
cblr-13858	2204	8	should	should	AUX
cblr-13858	2204	9	be	be	AUX
cblr-13858	2204	10	applied	apply	VERB
cblr-13858	2204	11	on	on	ADP
cblr-13858	2204	12	an	an	DET
cblr-13858	2204	13	aggregate	aggregate	ADJ
cblr-13858	2204	14	basis	basis	NOUN
cblr-13858	2204	15	to	to	ADP
cblr-13858	2204	16	all	all	PRON
cblr-13858	2204	17	crowdfunding	crowdfunde	VERB
cblr-13858	2204	18	within	within	ADP
cblr-13858	2204	19	any	any	DET
cblr-13858	2204	20	twelve	twelve	NUM
cblr-13858	2204	21	-	-	PUNCT
cblr-13858	2204	22	month	month	NOUN
cblr-13858	2204	23	period	period	NOUN
cblr-13858	2204	24	by	by	ADP
cblr-13858	2204	25	the	the	DET
cblr-13858	2204	26	same	same	ADJ
cblr-13858	2204	27	issuer	issuer	NOUN
cblr-13858	2204	28	.	.	PUNCT
cblr-13858	2205	1	if	if	SCONJ
cblr-13858	2205	2	the	the	DET
cblr-13858	2205	3	limit	limit	NOUN
cblr-13858	2205	4	is	be	AUX
cblr-13858	2205	5	$	$	SYM
cblr-13858	2205	6	500,000	500,000	NUM
cblr-13858	2205	7	,	,	PUNCT
cblr-13858	2205	8	the	the	DET
cblr-13858	2205	9	total	total	NOUN
cblr-13858	2205	10	an	an	DET
cblr-13858	2205	11	entrepreneur	entrepreneur	NOUN
cblr-13858	2205	12	raises	raise	VERB
cblr-13858	2205	13	through	through	ADP
cblr-13858	2205	14	crowdfunding	crowdfunding	NOUN
cblr-13858	2205	15	should	should	AUX
cblr-13858	2205	16	not	not	PART
cblr-13858	2205	17	exceed	exceed	VERB
cblr-13858	2205	18	$	$	SYM
cblr-13858	2205	19	500,000	500,000	NUM
cblr-13858	2205	20	in	in	ADP
cblr-13858	2205	21	a	a	DET
cblr-13858	2205	22	year	year	NOUN
cblr-13858	2205	23	,	,	PUNCT
cblr-13858	2205	24	even	even	ADV
cblr-13858	2205	25	if	if	SCONJ
cblr-13858	2205	26	the	the	DET
cblr-13858	2205	27	entrepreneur	entrepreneur	NOUN
cblr-13858	2205	28	conducts	conduct	VERB
cblr-13858	2205	29	multiple	multiple	ADJ
cblr-13858	2205	30	,	,	PUNCT
cblr-13858	2205	31	separate	separate	ADJ
cblr-13858	2205	32	rounds	round	NOUN
cblr-13858	2205	33	of	of	ADP
cblr-13858	2205	34	fundraising	fundraise	VERB
cblr-13858	2205	35	.	.	PUNCT
cblr-13858	2206	1	securities	security	NOUN
cblr-13858	2206	2	sold	sell	VERB
cblr-13858	2206	3	in	in	ADP
cblr-13858	2206	4	non	non	ADJ
cblr-13858	2206	5	-	-	ADJ
cblr-13858	2206	6	crowdfunded	crowdfunded	ADJ
cblr-13858	2206	7	offerings	offering	NOUN
cblr-13858	2206	8	should	should	AUX
cblr-13858	2206	9	not	not	PART
cblr-13858	2206	10	count	count	VERB
cblr-13858	2206	11	against	against	ADP
cblr-13858	2206	12	the	the	DET
cblr-13858	2206	13	exemption	exemption	NOUN
cblr-13858	2206	14	's	's	PART
cblr-13858	2206	15	limit	limit	NOUN
cblr-13858	2206	16	.	.	PUNCT
cblr-13858	2207	1	this	this	PRON
cblr-13858	2207	2	is	be	AUX
cblr-13858	2207	3	consistent	consistent	ADJ
cblr-13858	2207	4	with	with	ADP
cblr-13858	2207	5	the	the	DET
cblr-13858	2207	6	sec	sec	PROPN
cblr-13858	2207	7	's	's	PART
cblr-13858	2207	8	approach	approach	NOUN
cblr-13858	2207	9	in	in	ADP
cblr-13858	2207	10	regulation	regulation	NOUN
cblr-13858	2207	11	a.	a.	NOUN
cblr-13858	2207	12	rule	rule	NOUN
cblr-13858	2207	13	251(b	251(b	PROPN
cblr-13858	2207	14	)	)	PUNCT
cblr-13858	2207	15	limits	limit	VERB
cblr-13858	2207	16	the	the	DET
cblr-13858	2207	17	offering	offering	NOUN
cblr-13858	2207	18	amount	amount	NOUN
cblr-13858	2207	19	in	in	ADP
cblr-13858	2207	20	regulation	regulation	NOUN
cblr-13858	2207	21	a	a	DET
cblr-13858	2207	22	offerings	offering	NOUN
cblr-13858	2207	23	to	to	ADP
cblr-13858	2207	24	no	no	DET
cblr-13858	2207	25	more	more	ADJ
cblr-13858	2207	26	than	than	ADP
cblr-13858	2207	27	$	$	SYM
cblr-13858	2207	28	5	5	NUM
cblr-13858	2207	29	million	million	NUM
cblr-13858	2207	30	in	in	ADP
cblr-13858	2207	31	any	any	DET
cblr-13858	2207	32	twelve	twelve	NUM
cblr-13858	2207	33	-	-	PUNCT
cblr-13858	2207	34	month	month	NOUN
cblr-13858	2207	35	period	period	NOUN
cblr-13858	2207	36	,	,	PUNCT
cblr-13858	2207	37	but	but	CCONJ
cblr-13858	2207	38	only	only	ADV
cblr-13858	2207	39	offerings	offering	NOUN
cblr-13858	2207	40	pursuant	pursuant	VERB
cblr-13858	2207	41	to	to	ADP
cblr-13858	2207	42	regulation	regulation	NOUN
cblr-13858	2207	43	a	a	PRON
cblr-13858	2207	44	are	be	AUX
cblr-13858	2207	45	counted	count	VERB
cblr-13858	2207	46	against	against	ADP
cblr-13858	2207	47	that	that	DET
cblr-13858	2207	48	limit.62	limit.62	NOUN
cblr-13858	2207	49	1	1	NUM
cblr-13858	2207	50	the	the	DET
cblr-13858	2207	51	concepts	concept	NOUN
cblr-13858	2207	52	of	of	ADP
cblr-13858	2207	53	integration	integration	NOUN
cblr-13858	2207	54	and	and	CCONJ
cblr-13858	2207	55	aggregation	aggregation	NOUN
cblr-13858	2207	56	should	should	AUX
cblr-13858	2207	57	not	not	PART
cblr-13858	2207	58	be	be	AUX
cblr-13858	2207	59	applied	apply	VERB
cblr-13858	2207	60	beyond	beyond	ADP
cblr-13858	2207	61	that	that	PRON
cblr-13858	2207	62	.	.	PUNCT
cblr-13858	2208	1	small	small	ADJ
cblr-13858	2208	2	business	business	NOUN
cblr-13858	2208	3	entrepreneurs	entrepreneur	NOUN
cblr-13858	2208	4	seeking	seek	VERB
cblr-13858	2208	5	to	to	PART
cblr-13858	2208	6	raise	raise	VERB
cblr-13858	2208	7	money	money	NOUN
cblr-13858	2208	8	through	through	ADP
cblr-13858	2208	9	crowdfunding	crowdfunding	NOUN
cblr-13858	2208	10	can	can	AUX
cblr-13858	2208	11	not	not	PART
cblr-13858	2208	12	afford	afford	VERB
cblr-13858	2208	13	the	the	DET
cblr-13858	2208	14	legal	legal	ADJ
cblr-13858	2208	15	expertise	expertise	NOUN
cblr-13858	2208	16	needed	need	VERB
cblr-13858	2208	17	to	to	PART
cblr-13858	2208	18	navigate	navigate	VERB
cblr-13858	2208	19	the	the	DET
cblr-13858	2208	20	integration	integration	NOUN
cblr-13858	2208	21	doctrine	doctrine	NOUN
cblr-13858	2208	22	.	.	PUNCT
cblr-13858	2209	1	these	these	DET
cblr-13858	2209	2	entrepreneurs	entrepreneur	NOUN
cblr-13858	2209	3	can	can	AUX
cblr-13858	2209	4	count	count	VERB
cblr-13858	2209	5	how	how	SCONJ
cblr-13858	2209	6	much	much	ADJ
cblr-13858	2209	7	money	money	NOUN
cblr-13858	2209	8	they	they	PRON
cblr-13858	2209	9	receive	receive	VERB
cblr-13858	2209	10	619	619	NUM
cblr-13858	2209	11	see	see	VERB
cblr-13858	2209	12	securities	security	NOUN
cblr-13858	2209	13	act	act	PROPN
cblr-13858	2209	14	rule	rule	VERB
cblr-13858	2209	15	251(b	251(b	PROPN
cblr-13858	2209	16	)	)	PUNCT
cblr-13858	2209	17	,	,	PUNCT
cblr-13858	2209	18	17	17	NUM
cblr-13858	2209	19	c.f.r	c.f.r	NOUN
cblr-13858	2209	20	.	.	PUNCT
cblr-13858	2210	1	§	§	PROPN
cblr-13858	2210	2	§	§	PROPN
cblr-13858	2210	3	230.251(b	230.251(b	PROPN
cblr-13858	2210	4	)	)	PUNCT
cblr-13858	2210	5	230.504(b)(2	230.504(b)(2	NUM
cblr-13858	2210	6	)	)	PUNCT
cblr-13858	2210	7	,	,	PUNCT
cblr-13858	2210	8	230.505(b)(2)(i	230.505(b)(2)(i	NUM
cblr-13858	2210	9	)	)	PUNCT
cblr-13858	2210	10	(	(	PUNCT
cblr-13858	2210	11	2012	2012	NUM
cblr-13858	2210	12	)	)	PUNCT
cblr-13858	2210	13	.	.	PUNCT
cblr-13858	2211	1	see	see	VERB
cblr-13858	2211	2	generally	generally	ADV
cblr-13858	2211	3	bradford	bradford	NOUN
cblr-13858	2211	4	,	,	PUNCT
cblr-13858	2211	5	transaction	transaction	NOUN
cblr-13858	2211	6	exemptions	exemption	NOUN
cblr-13858	2211	7	,	,	PUNCT
cblr-13858	2211	8	supra	supra	PROPN
cblr-13858	2211	9	note	note	PROPN
cblr-13858	2211	10	509	509	NUM
cblr-13858	2211	11	,	,	PUNCT
cblr-13858	2211	12	at	at	ADP
cblr-13858	2211	13	657	657	NUM
cblr-13858	2211	14	-	-	SYM
cblr-13858	2211	15	58	58	NUM
cblr-13858	2211	16	(	(	PUNCT
cblr-13858	2211	17	explaining	explain	VERB
cblr-13858	2211	18	the	the	DET
cblr-13858	2211	19	concept	concept	NOUN
cblr-13858	2211	20	of	of	ADP
cblr-13858	2211	21	aggregation	aggregation	NOUN
cblr-13858	2211	22	)	)	PUNCT
cblr-13858	2211	23	.	.	PUNCT
cblr-13858	2212	1	620	620	NUM
cblr-13858	2213	1	the	the	DET
cblr-13858	2213	2	available	available	ADJ
cblr-13858	2213	3	aggregate	aggregate	NOUN
cblr-13858	2213	4	offering	offering	NOUN
cblr-13858	2213	5	amount	amount	NOUN
cblr-13858	2213	6	is	be	AUX
cblr-13858	2213	7	reduced	reduce	VERB
cblr-13858	2213	8	by	by	ADP
cblr-13858	2213	9	"	"	PUNCT
cblr-13858	2213	10	the	the	DET
cblr-13858	2213	11	aggregate	aggregate	ADJ
cblr-13858	2213	12	offering	offering	NOUN
cblr-13858	2213	13	price	price	NOUN
cblr-13858	2213	14	for	for	ADP
cblr-13858	2213	15	all	all	DET
cblr-13858	2213	16	securities	security	NOUN
cblr-13858	2213	17	sold	sell	VERB
cblr-13858	2213	18	within	within	ADP
cblr-13858	2213	19	the	the	DET
cblr-13858	2213	20	twelve	twelve	NUM
cblr-13858	2213	21	months	month	NOUN
cblr-13858	2213	22	before	before	ADP
cblr-13858	2213	23	the	the	DET
cblr-13858	2213	24	start	start	NOUN
cblr-13858	2213	25	of	of	ADP
cblr-13858	2213	26	and	and	CCONJ
cblr-13858	2213	27	during	during	ADP
cblr-13858	2213	28	the	the	DET
cblr-13858	2213	29	offering	offering	NOUN
cblr-13858	2213	30	of	of	ADP
cblr-13858	2213	31	securities	security	NOUN
cblr-13858	2213	32	under	under	ADP
cblr-13858	2213	33	.	.	PUNCT
cblr-13858	2213	34	.	.	PUNCT
cblr-13858	2213	35	.	.	PUNCT
cblr-13858	2214	1	[	[	X
cblr-13858	2214	2	rule	rule	NOUN
cblr-13858	2214	3	504	504	NUM
cblr-13858	2214	4	]	]	PUNCT
cblr-13858	2214	5	in	in	ADP
cblr-13858	2214	6	reliance	reliance	NOUN
cblr-13858	2214	7	on	on	ADP
cblr-13858	2214	8	any	any	DET
cblr-13858	2214	9	exemption	exemption	NOUN
cblr-13858	2214	10	under	under	ADP
cblr-13858	2214	11	section	section	NOUN
cblr-13858	2214	12	3(b	3(b	NUM
cblr-13858	2214	13	)	)	PUNCT
cblr-13858	2214	14	.	.	PUNCT
cblr-13858	2214	15	.	.	PUNCT
cblr-13858	2214	16	.	.	PUNCT
cblr-13858	2214	17	.	.	PUNCT
cblr-13858	2214	18	"	"	PUNCT
cblr-13858	2215	1	17	17	NUM
cblr-13858	2215	2	c.f.r	c.f.r	NOUN
cblr-13858	2215	3	.	.	PUNCT
cblr-13858	2215	4	§	§	PROPN
cblr-13858	2215	5	230.504(b)(2	230.504(b)(2	NUM
cblr-13858	2215	6	)	)	PUNCT
cblr-13858	2215	7	.	.	PUNCT
cblr-13858	2216	1	regulation	regulation	NOUN
cblr-13858	2216	2	a	a	PRON
cblr-13858	2216	3	is	be	AUX
cblr-13858	2216	4	a	a	DET
cblr-13858	2216	5	section	section	NOUN
cblr-13858	2216	6	3(b	3(b	NUM
cblr-13858	2216	7	)	)	PUNCT
cblr-13858	2216	8	exemption	exemption	NOUN
cblr-13858	2216	9	.	.	PUNCT
cblr-13858	2217	1	see	see	VERB
cblr-13858	2217	2	17	17	NUM
cblr-13858	2217	3	c.f.r	c.f.r	NOUN
cblr-13858	2217	4	.	.	PUNCT
cblr-13858	2218	1	§	§	PROPN
cblr-13858	2218	2	230.251	230.251	NUM
cblr-13858	2218	3	.	.	PUNCT
cblr-13858	2219	1	621	621	NUM
cblr-13858	2219	2	17	17	NUM
cblr-13858	2219	3	c.f.r	c.f.r	NOUN
cblr-13858	2219	4	.	.	PUNCT
cblr-13858	2220	1	§	§	PROPN
cblr-13858	2220	2	230.251(b	230.251(b	PROPN
cblr-13858	2220	3	)	)	PUNCT
cblr-13858	2220	4	.	.	PUNCT
cblr-13858	2221	1	other	other	ADJ
cblr-13858	2221	2	exemptions	exemption	NOUN
cblr-13858	2221	3	with	with	ADP
cblr-13858	2221	4	dollar	dollar	NOUN
cblr-13858	2221	5	limits	limit	NOUN
cblr-13858	2221	6	use	use	VERB
cblr-13858	2221	7	a	a	DET
cblr-13858	2221	8	similar	similar	ADJ
cblr-13858	2221	9	twelve	twelve	NUM
cblr-13858	2221	10	-	-	PUNCT
cblr-13858	2221	11	month	month	NOUN
cblr-13858	2221	12	period	period	NOUN
cblr-13858	2221	13	,	,	PUNCT
cblr-13858	2221	14	although	although	SCONJ
cblr-13858	2221	15	the	the	DET
cblr-13858	2221	16	amounts	amount	NOUN
cblr-13858	2221	17	charged	charge	VERB
cblr-13858	2221	18	against	against	ADP
cblr-13858	2221	19	those	those	DET
cblr-13858	2221	20	limits	limit	NOUN
cblr-13858	2221	21	include	include	VERB
cblr-13858	2221	22	other	other	ADJ
cblr-13858	2221	23	specified	specify	VERB
cblr-13858	2221	24	offerings	offering	NOUN
cblr-13858	2221	25	.	.	PUNCT
cblr-13858	2222	1	see	see	VERB
cblr-13858	2222	2	17	17	NUM
cblr-13858	2222	3	c.f.r	c.f.r	NOUN
cblr-13858	2222	4	.	.	PUNCT
cblr-13858	2223	1	§	§	PROPN
cblr-13858	2223	2	§	§	PROPN
cblr-13858	2223	3	230.504(b)(2	230.504(b)(2	NUM
cblr-13858	2223	4	)	)	PUNCT
cblr-13858	2223	5	,	,	PUNCT
cblr-13858	2223	6	230.505(b)(2)(i	230.505(b)(2)(i	NUM
cblr-13858	2223	7	)	)	PUNCT
cblr-13858	2223	8	.	.	PUNCT
cblr-13858	2224	1	no	no	INTJ
cblr-13858	2224	2	.	.	PUNCT
cblr-13858	2225	1	i:1	i:1	PROPN
cblr-13858	2225	2	]	]	PUNCT
cblr-13858	2225	3	crowdfundingand	crowdfundingand	NOUN
cblr-13858	2225	4	securities	security	NOUN
cblr-13858	2225	5	laws	law	NOUN
cblr-13858	2225	6	121	121	NUM
cblr-13858	2225	7	columbia	columbia	PROPN
cblr-13858	2225	8	business	business	NOUN
cblr-13858	2225	9	law	law	PROPN
cblr-13858	2225	10	review	review	NOUN
cblr-13858	2225	11	through	through	ADP
cblr-13858	2225	12	crowdfunding	crowdfunding	NOUN
cblr-13858	2225	13	,	,	PUNCT
cblr-13858	2225	14	but	but	CCONJ
cblr-13858	2225	15	they	they	PRON
cblr-13858	2225	16	are	be	AUX
cblr-13858	2225	17	not	not	PART
cblr-13858	2225	18	in	in	ADP
cblr-13858	2225	19	a	a	DET
cblr-13858	2225	20	position	position	NOUN
cblr-13858	2225	21	to	to	PART
cblr-13858	2225	22	consider	consider	VERB
cblr-13858	2225	23	the	the	DET
cblr-13858	2225	24	effect	effect	NOUN
cblr-13858	2225	25	of	of	ADP
cblr-13858	2225	26	other	other	ADJ
cblr-13858	2225	27	fundraising	fundraising	NOUN
cblr-13858	2225	28	efforts	effort	NOUN
cblr-13858	2225	29	on	on	ADP
cblr-13858	2225	30	the	the	DET
cblr-13858	2225	31	availability	availability	NOUN
cblr-13858	2225	32	of	of	ADP
cblr-13858	2225	33	crowdfunding	crowdfunding	NOUN
cblr-13858	2225	34	-	-	PUNCT
cblr-13858	2225	35	whether	whether	SCONJ
cblr-13858	2225	36	,	,	PUNCT
cblr-13858	2225	37	for	for	ADP
cblr-13858	2225	38	example	example	NOUN
cblr-13858	2225	39	,	,	PUNCT
cblr-13858	2225	40	the	the	DET
cblr-13858	2225	41	private	private	ADJ
cblr-13858	2225	42	solicitation	solicitation	NOUN
cblr-13858	2225	43	of	of	ADP
cblr-13858	2225	44	money	money	NOUN
cblr-13858	2225	45	from	from	ADP
cblr-13858	2225	46	aunt	aunt	PROPN
cblr-13858	2225	47	agnes	agne	NOUN
cblr-13858	2225	48	will	will	AUX
cblr-13858	2225	49	count	count	VERB
cblr-13858	2225	50	against	against	ADP
cblr-13858	2225	51	the	the	DET
cblr-13858	2225	52	crowdfunding	crowdfunding	NOUN
cblr-13858	2225	53	limit.6	limit.6	NOUN
cblr-13858	2225	54	22	22	NUM
cblr-13858	2225	55	they	they	PRON
cblr-13858	2225	56	also	also	ADV
cblr-13858	2225	57	can	can	AUX
cblr-13858	2225	58	not	not	PART
cblr-13858	2225	59	anticipate	anticipate	VERB
cblr-13858	2225	60	their	their	PRON
cblr-13858	2225	61	future	future	ADJ
cblr-13858	2225	62	capital	capital	NOUN
cblr-13858	2225	63	needs6	needs6	NOUN
cblr-13858	2225	64	2	2	NUM
cblr-13858	2225	65	3	3	NUM
cblr-13858	2225	66	or	or	CCONJ
cblr-13858	2225	67	the	the	DET
cblr-13858	2225	68	potential	potential	ADJ
cblr-13858	2225	69	retroactive	retroactive	ADJ
cblr-13858	2225	70	application	application	NOUN
cblr-13858	2225	71	of	of	ADP
cblr-13858	2225	72	integration	integration	NOUN
cblr-13858	2225	73	to	to	PART
cblr-13858	2225	74	destroy	destroy	VERB
cblr-13858	2225	75	their	their	PRON
cblr-13858	2225	76	crowdfunding	crowdfunding	NOUN
cblr-13858	2225	77	exemption	exemption	NOUN
cblr-13858	2225	78	.	.	PUNCT
cblr-13858	2226	1	the	the	DET
cblr-13858	2226	2	incorporation	incorporation	NOUN
cblr-13858	2226	3	of	of	ADP
cblr-13858	2226	4	integration	integration	NOUN
cblr-13858	2226	5	concepts	concept	NOUN
cblr-13858	2226	6	into	into	ADP
cblr-13858	2226	7	the	the	DET
cblr-13858	2226	8	crowdfunding	crowdfunding	NOUN
cblr-13858	2226	9	exemption	exemption	NOUN
cblr-13858	2226	10	would	would	AUX
cblr-13858	2226	11	function	function	VERB
cblr-13858	2226	12	as	as	ADP
cblr-13858	2226	13	a	a	DET
cblr-13858	2226	14	trap	trap	NOUN
cblr-13858	2226	15	for	for	ADP
cblr-13858	2226	16	unsophisticated	unsophisticated	ADJ
cblr-13858	2226	17	,	,	PUNCT
cblr-13858	2226	18	unwary	unwary	ADJ
cblr-13858	2226	19	entrepreneurs	entrepreneur	NOUN
cblr-13858	2226	20	.	.	PUNCT
cblr-13858	2227	1	integrating	integrate	VERB
cblr-13858	2227	2	or	or	CCONJ
cblr-13858	2227	3	aggregating	aggregate	VERB
cblr-13858	2227	4	non	non	ADJ
cblr-13858	2227	5	-	-	ADJ
cblr-13858	2227	6	crowdfunded	crowdfunded	ADJ
cblr-13858	2227	7	offerings	offering	NOUN
cblr-13858	2227	8	is	be	AUX
cblr-13858	2227	9	also	also	ADV
cblr-13858	2227	10	inconsistent	inconsistent	ADJ
cblr-13858	2227	11	with	with	ADP
cblr-13858	2227	12	the	the	DET
cblr-13858	2227	13	idea	idea	NOUN
cblr-13858	2227	14	of	of	ADP
cblr-13858	2227	15	crowdfunding	crowdfunde	VERB
cblr-13858	2227	16	sites	site	NOUN
cblr-13858	2227	17	as	as	ADP
cblr-13858	2227	18	gatekeepers	gatekeeper	NOUN
cblr-13858	2227	19	.	.	PUNCT
cblr-13858	2228	1	crowdfunding	crowdfunde	VERB
cblr-13858	2228	2	sites	site	NOUN
cblr-13858	2228	3	can	can	AUX
cblr-13858	2228	4	monitor	monitor	VERB
cblr-13858	2228	5	how	how	SCONJ
cblr-13858	2228	6	much	much	ADJ
cblr-13858	2228	7	each	each	DET
cblr-13858	2228	8	entrepreneur	entrepreneur	NOUN
cblr-13858	2228	9	raises	raise	VERB
cblr-13858	2228	10	through	through	ADP
cblr-13858	2228	11	crowdfunding	crowdfunding	NOUN
cblr-13858	2228	12	since	since	SCONJ
cblr-13858	2228	13	the	the	DET
cblr-13858	2228	14	money	money	NOUN
cblr-13858	2228	15	passes	pass	VERB
cblr-13858	2228	16	through	through	ADP
cblr-13858	2228	17	their	their	PRON
cblr-13858	2228	18	portal	portal	NOUN
cblr-13858	2228	19	.	.	PUNCT
cblr-13858	2229	1	however	however	ADV
cblr-13858	2229	2	,	,	PUNCT
cblr-13858	2229	3	they	they	PRON
cblr-13858	2229	4	can	can	AUX
cblr-13858	2229	5	not	not	PART
cblr-13858	2229	6	easily	easily	ADV
cblr-13858	2229	7	ascertain	ascertain	VERB
cblr-13858	2229	8	how	how	SCONJ
cblr-13858	2229	9	much	much	ADJ
cblr-13858	2229	10	entrepreneurs	entrepreneur	NOUN
cblr-13858	2229	11	have	have	AUX
cblr-13858	2229	12	raised	raise	VERB
cblr-13858	2229	13	through	through	ADP
cblr-13858	2229	14	other	other	ADJ
cblr-13858	2229	15	,	,	PUNCT
cblr-13858	2229	16	outside	outside	ADJ
cblr-13858	2229	17	sources	source	NOUN
cblr-13858	2229	18	.	.	PUNCT
cblr-13858	2230	1	two	two	NUM
cblr-13858	2230	2	of	of	ADP
cblr-13858	2230	3	the	the	DET
cblr-13858	2230	4	proposed	propose	VERB
cblr-13858	2230	5	bills	bill	NOUN
cblr-13858	2230	6	have	have	VERB
cblr-13858	2230	7	provisions	provision	NOUN
cblr-13858	2230	8	that	that	PRON
cblr-13858	2230	9	might	might	AUX
cblr-13858	2230	10	be	be	AUX
cblr-13858	2230	11	construed	construe	VERB
cblr-13858	2230	12	as	as	ADP
cblr-13858	2230	13	protecting	protect	VERB
cblr-13858	2230	14	against	against	ADP
cblr-13858	2230	15	integration	integration	NOUN
cblr-13858	2230	16	.	.	PUNCT
cblr-13858	2231	1	both	both	DET
cblr-13858	2231	2	house	house	NOUN
cblr-13858	2231	3	bill	bill	PROPN
cblr-13858	2231	4	2930	2930	NUM
cblr-13858	2231	5	and	and	CCONJ
cblr-13858	2231	6	senate	senate	PROPN
cblr-13858	2231	7	bill	bill	PROPN
cblr-13858	2231	8	1970	1970	NUM
cblr-13858	2231	9	provide	provide	VERB
cblr-13858	2231	10	that	that	SCONJ
cblr-13858	2231	11	nothing	nothing	PRON
cblr-13858	2231	12	in	in	ADP
cblr-13858	2231	13	the	the	DET
cblr-13858	2231	14	exemption	exemption	NOUN
cblr-13858	2231	15	"	"	PUNCT
cblr-13858	2231	16	shall	shall	AUX
cblr-13858	2231	17	be	be	AUX
cblr-13858	2231	18	construed	construe	VERB
cblr-13858	2231	19	as	as	ADP
cblr-13858	2231	20	preventing	prevent	VERB
cblr-13858	2231	21	an	an	DET
cblr-13858	2231	22	issuer	issuer	NOUN
cblr-13858	2231	23	from	from	ADP
cblr-13858	2231	24	raising	raise	VERB
cblr-13858	2231	25	capital	capital	NOUN
cblr-13858	2231	26	through	through	ADP
cblr-13858	2231	27	methods	method	NOUN
cblr-13858	2231	28	not	not	PART
cblr-13858	2231	29	described	describe	VERB
cblr-13858	2231	30	under	under	ADP
cblr-13858	2231	31	"	"	PUNCT
cblr-13858	2231	32	the	the	DET
cblr-13858	2231	33	exemption.624	exemption.624	NOUN
cblr-13858	2231	34	3	3	X
cblr-13858	2231	35	.	.	PUNCT
cblr-13858	2231	36	individual	individual	ADJ
cblr-13858	2231	37	investment	investment	NOUN
cblr-13858	2231	38	cap	cap	NOUN
cblr-13858	2231	39	all	all	PRON
cblr-13858	2231	40	of	of	ADP
cblr-13858	2231	41	the	the	DET
cblr-13858	2231	42	crowdfunding	crowdfunding	NOUN
cblr-13858	2231	43	exemption	exemption	NOUN
cblr-13858	2231	44	proposals	proposal	NOUN
cblr-13858	2231	45	limit	limit	VERB
cblr-13858	2231	46	not	not	PART
cblr-13858	2231	47	only	only	ADV
cblr-13858	2231	48	the	the	DET
cblr-13858	2231	49	total	total	ADJ
cblr-13858	2231	50	amount	amount	NOUN
cblr-13858	2231	51	of	of	ADP
cblr-13858	2231	52	the	the	DET
cblr-13858	2231	53	offering	offering	NOUN
cblr-13858	2231	54	,	,	PUNCT
cblr-13858	2231	55	but	but	CCONJ
cblr-13858	2231	56	also	also	ADV
cblr-13858	2231	57	the	the	DET
cblr-13858	2231	58	amount	amount	NOUN
cblr-13858	2231	59	that	that	PRON
cblr-13858	2231	60	each	each	DET
cblr-13858	2231	61	investor	investor	NOUN
cblr-13858	2231	62	may	may	AUX
cblr-13858	2231	63	invest	invest	VERB
cblr-13858	2231	64	.	.	PUNCT
cblr-13858	2232	1	such	such	DET
cblr-13858	2232	2	a	a	DET
cblr-13858	2232	3	limit	limit	NOUN
cblr-13858	2232	4	is	be	AUX
cblr-13858	2232	5	sensible	sensible	ADJ
cblr-13858	2232	6	.	.	PUNCT
cblr-13858	2233	1	622	622	NUM
cblr-13858	2233	2	the	the	DET
cblr-13858	2233	3	wall	wall	PROPN
cblr-13858	2233	4	street	street	PROPN
cblr-13858	2233	5	journal	journal	PROPN
cblr-13858	2233	6	provides	provide	VERB
cblr-13858	2233	7	an	an	DET
cblr-13858	2233	8	excellent	excellent	ADJ
cblr-13858	2233	9	example	example	NOUN
cblr-13858	2233	10	.	.	PUNCT
cblr-13858	2234	1	bronson	bronson	PROPN
cblr-13858	2234	2	chang	chang	PROPN
cblr-13858	2234	3	raised	raise	VERB
cblr-13858	2234	4	$	$	SYM
cblr-13858	2234	5	54,000	54,000	NUM
cblr-13858	2234	6	on	on	ADP
cblr-13858	2234	7	profounder	profounder	NOUN
cblr-13858	2234	8	from	from	ADP
cblr-13858	2234	9	family	family	NOUN
cblr-13858	2234	10	members	member	NOUN
cblr-13858	2234	11	,	,	PUNCT
cblr-13858	2234	12	friends	friend	NOUN
cblr-13858	2234	13	,	,	PUNCT
cblr-13858	2234	14	and	and	CCONJ
cblr-13858	2234	15	customers	customer	NOUN
cblr-13858	2234	16	.	.	PUNCT
cblr-13858	2235	1	he	he	PRON
cblr-13858	2235	2	then	then	ADV
cblr-13858	2235	3	sought	seek	VERB
cblr-13858	2235	4	another	another	DET
cblr-13858	2235	5	$	$	SYM
cblr-13858	2235	6	60,000	60,000	NUM
cblr-13858	2235	7	through	through	ADP
cblr-13858	2235	8	a	a	DET
cblr-13858	2235	9	"	"	PUNCT
cblr-13858	2235	10	public	public	ADJ
cblr-13858	2235	11	raise	raise	NOUN
cblr-13858	2235	12	"	"	PUNCT
cblr-13858	2235	13	on	on	ADP
cblr-13858	2235	14	profounder	profounder	NOUN
cblr-13858	2235	15	.	.	PUNCT
cblr-13858	2236	1	emily	emily	PROPN
cblr-13858	2236	2	maltby	maltby	PROPN
cblr-13858	2236	3	,	,	PUNCT
cblr-13858	2236	4	tapping	tap	VERB
cblr-13858	2236	5	the	the	DET
cblr-13858	2236	6	crowd	crowd	NOUN
cblr-13858	2236	7	for	for	ADP
cblr-13858	2236	8	funds	fund	NOUN
cblr-13858	2236	9	,	,	PUNCT
cblr-13858	2236	10	wall	wall	PROPN
cblr-13858	2236	11	st	st	PROPN
cblr-13858	2236	12	.	.	PROPN
cblr-13858	2236	13	j.	j.	PROPN
cblr-13858	2236	14	(	(	PUNCT
cblr-13858	2236	15	dec	dec	PROPN
cblr-13858	2236	16	.	.	PROPN
cblr-13858	2236	17	8	8	NUM
cblr-13858	2236	18	,	,	PUNCT
cblr-13858	2236	19	2010	2010	NUM
cblr-13858	2236	20	)	)	PUNCT
cblr-13858	2236	21	,	,	PUNCT
cblr-13858	2236	22	http://online.wsj.com/article/sb1000142405274	http://online.wsj.com/article/sb1000142405274	PROPN
cblr-13858	2236	23	870349350	870349350	NUM
cblr-13858	2236	24	4576007463796977774.html	4576007463796977774.html	NUM
cblr-13858	2236	25	.	.	PUNCT
cblr-13858	2237	1	it	it	PRON
cblr-13858	2237	2	is	be	AUX
cblr-13858	2237	3	likely	likely	ADJ
cblr-13858	2237	4	that	that	SCONJ
cblr-13858	2237	5	chang	chang	PROPN
cblr-13858	2237	6	never	never	ADV
cblr-13858	2237	7	even	even	ADV
cblr-13858	2237	8	considered	consider	VERB
cblr-13858	2237	9	whether	whether	SCONJ
cblr-13858	2237	10	his	his	PRON
cblr-13858	2237	11	subsequent	subsequent	ADJ
cblr-13858	2237	12	offering	offering	NOUN
cblr-13858	2237	13	negatively	negatively	ADV
cblr-13858	2237	14	affected	affect	VERB
cblr-13858	2237	15	the	the	DET
cblr-13858	2237	16	status	status	NOUN
cblr-13858	2237	17	of	of	ADP
cblr-13858	2237	18	his	his	PRON
cblr-13858	2237	19	earlier	early	ADJ
cblr-13858	2237	20	rule	rule	NOUN
cblr-13858	2237	21	504	504	NUM
cblr-13858	2237	22	"	"	PUNCT
cblr-13858	2237	23	private	private	ADJ
cblr-13858	2237	24	raise	raise	NOUN
cblr-13858	2237	25	.	.	PUNCT
cblr-13858	2237	26	"	"	PUNCT
cblr-13858	2238	1	62	62	NUM
cblr-13858	2238	2	.	.	PUNCT
cblr-13858	2239	1	see	see	VERB
cblr-13858	2239	2	cohn	cohn	PROPN
cblr-13858	2239	3	&	&	CCONJ
cblr-13858	2239	4	yadley	yadley	PROPN
cblr-13858	2239	5	,	,	PUNCT
cblr-13858	2239	6	supra	supra	PROPN
cblr-13858	2239	7	note	note	PROPN
cblr-13858	2239	8	11	11	NUM
cblr-13858	2239	9	,	,	PUNCT
cblr-13858	2239	10	at	at	ADP
cblr-13858	2239	11	50	50	NUM
cblr-13858	2239	12	(	(	PUNCT
cblr-13858	2239	13	stating	state	VERB
cblr-13858	2239	14	that	that	SCONJ
cblr-13858	2239	15	small	small	ADJ
cblr-13858	2239	16	companies	company	NOUN
cblr-13858	2239	17	'	'	PART
cblr-13858	2239	18	capital	capital	NOUN
cblr-13858	2239	19	needs	need	NOUN
cblr-13858	2239	20	"	"	PUNCT
cblr-13858	2239	21	are	be	AUX
cblr-13858	2239	22	often	often	ADV
cblr-13858	2239	23	sporadic	sporadic	ADJ
cblr-13858	2239	24	and	and	CCONJ
cblr-13858	2239	25	immediate	immediate	ADJ
cblr-13858	2239	26	"	"	PUNCT
cblr-13858	2239	27	)	)	PUNCT
cblr-13858	2239	28	.	.	PUNCT
cblr-13858	2240	1	6	6	NUM
cblr-13858	2240	2	"	"	PUNCT
cblr-13858	2240	3	'	'	PUNCT
cblr-13858	2240	4	h.r	h.r	PROPN
cblr-13858	2240	5	.	.	PROPN
cblr-13858	2240	6	2930	2930	NUM
cblr-13858	2240	7	,	,	PUNCT
cblr-13858	2240	8	112th	112th	PROPN
cblr-13858	2240	9	cong	cong	NOUN
cblr-13858	2240	10	.	.	PUNCT
cblr-13858	2241	1	§	§	PROPN
cblr-13858	2241	2	2	2	NUM
cblr-13858	2241	3	(	(	PUNCT
cblr-13858	2241	4	2011	2011	NUM
cblr-13858	2241	5	)	)	PUNCT
cblr-13858	2241	6	;	;	PUNCT
cblr-13858	2241	7	s.	s.	PROPN
cblr-13858	2241	8	1970	1970	NUM
cblr-13858	2241	9	,	,	PUNCT
cblr-13858	2241	10	112th	112th	PROPN
cblr-13858	2241	11	cong	cong	NOUN
cblr-13858	2241	12	.	.	PUNCT
cblr-13858	2242	1	§	§	PROPN
cblr-13858	2242	2	2	2	NUM
cblr-13858	2242	3	(	(	PUNCT
cblr-13858	2242	4	2011	2011	NUM
cblr-13858	2242	5	)	)	PUNCT
cblr-13858	2242	6	.	.	PUNCT
cblr-13858	2243	1	122	122	NUM
cblr-13858	2244	1	[	[	X
cblr-13858	2244	2	vol	vol	NOUN
cblr-13858	2244	3	.	.	PUNCT
cblr-13858	2244	4	2012	2012	NUM
cblr-13858	2244	5	small	small	ADJ
cblr-13858	2244	6	business	business	NOUN
cblr-13858	2244	7	offerings	offering	NOUN
cblr-13858	2244	8	are	be	AUX
cblr-13858	2244	9	very	very	ADV
cblr-13858	2244	10	risky	risky	ADJ
cblr-13858	2244	11	and	and	CCONJ
cblr-13858	2244	12	losses	loss	NOUN
cblr-13858	2244	13	are	be	AUX
cblr-13858	2244	14	likely.6	likely.6	NOUN
cblr-13858	2244	15	2	2	NUM
cblr-13858	2244	16	5	5	NUM
cblr-13858	2244	17	a	a	DET
cblr-13858	2244	18	properly	properly	ADV
cblr-13858	2244	19	set	set	VERB
cblr-13858	2244	20	cap	cap	NOUN
cblr-13858	2244	21	on	on	ADP
cblr-13858	2244	22	the	the	DET
cblr-13858	2244	23	amount	amount	NOUN
cblr-13858	2244	24	an	an	DET
cblr-13858	2244	25	individual	individual	NOUN
cblr-13858	2244	26	may	may	AUX
cblr-13858	2244	27	invest	invest	VERB
cblr-13858	2244	28	eliminates	eliminate	VERB
cblr-13858	2244	29	the	the	DET
cblr-13858	2244	30	possibility	possibility	NOUN
cblr-13858	2244	31	of	of	ADP
cblr-13858	2244	32	catastrophic	catastrophic	ADJ
cblr-13858	2244	33	loss	loss	NOUN
cblr-13858	2244	34	and	and	CCONJ
cblr-13858	2244	35	limits	limit	VERB
cblr-13858	2244	36	losses	loss	NOUN
cblr-13858	2244	37	to	to	ADP
cblr-13858	2244	38	what	what	PRON
cblr-13858	2244	39	each	each	DET
cblr-13858	2244	40	investor	investor	NOUN
cblr-13858	2244	41	can	can	AUX
cblr-13858	2244	42	bear.626	bear.626	VERB
cblr-13858	2244	43	as	as	ADP
cblr-13858	2244	44	with	with	ADP
cblr-13858	2244	45	the	the	DET
cblr-13858	2244	46	offering	offering	NOUN
cblr-13858	2244	47	amount	amount	NOUN
cblr-13858	2244	48	,	,	PUNCT
cblr-13858	2244	49	there	there	PRON
cblr-13858	2244	50	is	be	VERB
cblr-13858	2244	51	no	no	DET
cblr-13858	2244	52	magic	magic	ADJ
cblr-13858	2244	53	number	number	NOUN
cblr-13858	2244	54	.	.	PUNCT
cblr-13858	2245	1	this	this	DET
cblr-13858	2245	2	article	article	NOUN
cblr-13858	2245	3	proposes	propose	VERB
cblr-13858	2245	4	that	that	SCONJ
cblr-13858	2245	5	each	each	DET
cblr-13858	2245	6	investor	investor	NOUN
cblr-13858	2245	7	be	be	AUX
cblr-13858	2245	8	able	able	ADJ
cblr-13858	2245	9	to	to	PART
cblr-13858	2245	10	invest	invest	VERB
cblr-13858	2245	11	annually	annually	ADV
cblr-13858	2245	12	in	in	ADP
cblr-13858	2245	13	,	,	PUNCT
cblr-13858	2245	14	crowdfunding	crowdfunde	VERB
cblr-13858	2245	15	no	no	PRON
cblr-13858	2245	16	more	more	ADJ
cblr-13858	2245	17	than	than	ADP
cblr-13858	2245	18	the	the	DET
cblr-13858	2245	19	greater	great	ADJ
cblr-13858	2245	20	of	of	ADP
cblr-13858	2245	21	$	$	SYM
cblr-13858	2245	22	500	500	NUM
cblr-13858	2245	23	or	or	CCONJ
cblr-13858	2245	24	2	2	NUM
cblr-13858	2245	25	%	%	NOUN
cblr-13858	2245	26	of	of	ADP
cblr-13858	2245	27	the	the	DET
cblr-13858	2245	28	investor	investor	NOUN
cblr-13858	2245	29	's	's	PART
cblr-13858	2245	30	annual	annual	ADJ
cblr-13858	2245	31	income	income	NOUN
cblr-13858	2245	32	.	.	PUNCT
cblr-13858	2246	1	a.	a.	NOUN
cblr-13858	2247	1	the	the	DET
cblr-13858	2247	2	individual	individual	ADJ
cblr-13858	2247	3	cap	cap	NOUN
cblr-13858	2247	4	related	relate	VERB
cblr-13858	2247	5	to	to	ADP
cblr-13858	2247	6	existing	exist	VERB
cblr-13858	2247	7	exemptions	exemption	NOUN
cblr-13858	2247	8	none	none	NOUN
cblr-13858	2247	9	of	of	ADP
cblr-13858	2247	10	the	the	DET
cblr-13858	2247	11	current	current	ADJ
cblr-13858	2247	12	exemptions	exemption	NOUN
cblr-13858	2247	13	limit	limit	VERB
cblr-13858	2247	14	the	the	DET
cblr-13858	2247	15	amount	amount	NOUN
cblr-13858	2247	16	an	an	DET
cblr-13858	2247	17	individual	individual	ADJ
cblr-13858	2247	18	investor	investor	NOUN
cblr-13858	2247	19	may	may	AUX
cblr-13858	2247	20	invest	invest	VERB
cblr-13858	2247	21	.	.	PUNCT
cblr-13858	2248	1	many	many	ADJ
cblr-13858	2248	2	of	of	ADP
cblr-13858	2248	3	the	the	DET
cblr-13858	2248	4	exemptions	exemption	NOUN
cblr-13858	2248	5	cap	cap	VERB
cblr-13858	2248	6	the	the	DET
cblr-13858	2248	7	total	total	ADJ
cblr-13858	2248	8	dollar	dollar	NOUN
cblr-13858	2248	9	amount	amount	NOUN
cblr-13858	2248	10	of	of	ADP
cblr-13858	2248	11	an	an	DET
cblr-13858	2248	12	offering,"6	offering,"6	NOUN
cblr-13858	2248	13	but	but	CCONJ
cblr-13858	2248	14	as	as	ADV
cblr-13858	2248	15	long	long	ADV
cblr-13858	2248	16	as	as	SCONJ
cblr-13858	2248	17	the	the	DET
cblr-13858	2248	18	total	total	ADJ
cblr-13858	2248	19	offering	offering	NOUN
cblr-13858	2248	20	amount	amount	NOUN
cblr-13858	2248	21	does	do	AUX
cblr-13858	2248	22	not	not	PART
cblr-13858	2248	23	exceed	exceed	VERB
cblr-13858	2248	24	the	the	DET
cblr-13858	2248	25	cap	cap	NOUN
cblr-13858	2248	26	,	,	PUNCT
cblr-13858	2248	27	the	the	DET
cblr-13858	2248	28	amount	amount	NOUN
cblr-13858	2248	29	that	that	PRON
cblr-13858	2248	30	any	any	DET
cblr-13858	2248	31	single	single	ADJ
cblr-13858	2248	32	investor	investor	NOUN
cblr-13858	2248	33	purchases	purchase	NOUN
cblr-13858	2248	34	does	do	AUX
cblr-13858	2248	35	not	not	PART
cblr-13858	2248	36	matter	matter	VERB
cblr-13858	2248	37	.	.	PUNCT
cblr-13858	2249	1	the	the	DET
cblr-13858	2249	2	exemption	exemption	NOUN
cblr-13858	2249	3	would	would	AUX
cblr-13858	2249	4	be	be	AUX
cblr-13858	2249	5	available	available	ADJ
cblr-13858	2249	6	even	even	ADV
cblr-13858	2249	7	if	if	SCONJ
cblr-13858	2249	8	a	a	DET
cblr-13858	2249	9	single	single	ADJ
cblr-13858	2249	10	investor	investor	NOUN
cblr-13858	2249	11	purchased	purchase	VERB
cblr-13858	2249	12	the	the	DET
cblr-13858	2249	13	entire	entire	ADJ
cblr-13858	2249	14	offering	offering	NOUN
cblr-13858	2249	15	.	.	PUNCT
cblr-13858	2250	1	however	however	ADV
cblr-13858	2250	2	,	,	PUNCT
cblr-13858	2250	3	some	some	PRON
cblr-13858	2250	4	of	of	ADP
cblr-13858	2250	5	the	the	DET
cblr-13858	2250	6	existing	exist	VERB
cblr-13858	2250	7	exemptions	exemption	NOUN
cblr-13858	2250	8	do	do	AUX
cblr-13858	2250	9	consider	consider	VERB
cblr-13858	2250	10	an	an	DET
cblr-13858	2250	11	investor	investor	NOUN
cblr-13858	2250	12	's	's	PART
cblr-13858	2250	13	ability	ability	NOUN
cblr-13858	2250	14	to	to	PART
cblr-13858	2250	15	bear	bear	VERB
cblr-13858	2250	16	losses	loss	NOUN
cblr-13858	2250	17	in	in	ADP
cblr-13858	2250	18	a	a	DET
cblr-13858	2250	19	less	less	ADV
cblr-13858	2250	20	direct	direct	ADJ
cblr-13858	2250	21	way	way	NOUN
cblr-13858	2250	22	.	.	PUNCT
cblr-13858	2251	1	both	both	PRON
cblr-13858	2251	2	rule	rule	VERB
cblr-13858	2251	3	506	506	NUM
cblr-13858	2251	4	of	of	ADP
cblr-13858	2251	5	regulation	regulation	NOUN
cblr-13858	2251	6	d	d	NOUN
cblr-13858	2251	7	and	and	CCONJ
cblr-13858	2251	8	section	section	NOUN
cblr-13858	2251	9	4(5	4(5	PROPN
cblr-13858	2251	10	)	)	PUNCT
cblr-13858	2251	11	of	of	ADP
cblr-13858	2251	12	the	the	DET
cblr-13858	2251	13	securities	security	NOUN
cblr-13858	2251	14	act	act	NOUN
cblr-13858	2251	15	restrict	restrict	VERB
cblr-13858	2251	16	the	the	DET
cblr-13858	2251	17	purchasers	purchaser	NOUN
cblr-13858	2251	18	to	to	PART
cblr-13858	2251	19	whom	whom	PRON
cblr-13858	2251	20	sales	sale	NOUN
cblr-13858	2251	21	may	may	AUX
cblr-13858	2251	22	be	be	AUX
cblr-13858	2251	23	made	make	VERB
cblr-13858	2251	24	.	.	PUNCT
cblr-13858	2251	25	'	'	PUNCT
cblr-13858	2251	26	section	section	NOUN
cblr-13858	2251	27	4(5	4(5	PROPN
cblr-13858	2251	28	)	)	PUNCT
cblr-13858	2251	29	of	of	ADP
cblr-13858	2251	30	the	the	DET
cblr-13858	2251	31	securities	security	NOUN
cblr-13858	2251	32	act	act	PROPN
cblr-13858	2251	33	limits	limit	VERB
cblr-13858	2251	34	sales	sale	NOUN
cblr-13858	2251	35	to	to	PART
cblr-13858	2251	36	accredited	accredit	VERB
cblr-13858	2251	37	investors.6	investors.6	PROPN
cblr-13858	2251	38	29	29	NUM
cblr-13858	2251	39	rule	rule	NOUN
cblr-13858	2251	40	506	506	NUM
cblr-13858	2251	41	limits	limit	VERB
cblr-13858	2251	42	sales	sale	NOUN
cblr-13858	2251	43	to	to	ADP
cblr-13858	2251	44	purchasers	purchaser	NOUN
cblr-13858	2251	45	who	who	PRON
cblr-13858	2251	46	either	either	CCONJ
cblr-13858	2251	47	are	be	AUX
cblr-13858	2251	48	accredited	accredit	VERB
cblr-13858	2251	49	investors	investor	NOUN
cblr-13858	2251	50	or	or	CCONJ
cblr-13858	2251	51	who	who	PRON
cblr-13858	2251	52	have	have	VERB
cblr-13858	2251	53	"	"	PUNCT
cblr-13858	2251	54	such	such	ADJ
cblr-13858	2251	55	knowledge	knowledge	NOUN
cblr-13858	2251	56	and	and	CCONJ
cblr-13858	2251	57	experience	experience	NOUN
cblr-13858	2251	58	in	in	ADP
cblr-13858	2251	59	financial	financial	ADJ
cblr-13858	2251	60	and	and	CCONJ
cblr-13858	2251	61	business	business	NOUN
cblr-13858	2251	62	matters	matter	VERB
cblr-13858	2251	63	that	that	PRON
cblr-13858	2251	64	.	.	PUNCT
cblr-13858	2251	65	.	.	PUNCT
cblr-13858	2251	66	.	.	PUNCT
cblr-13858	2252	1	[	[	X
cblr-13858	2252	2	they	they	PRON
cblr-13858	2252	3	625	625	NUM
cblr-13858	2252	4	see	see	VERB
cblr-13858	2252	5	supra	supra	PROPN
cblr-13858	2252	6	part	part	NOUN
cblr-13858	2252	7	vi.b.1	vi.b.1	PROPN
cblr-13858	2252	8	.	.	PUNCT
cblr-13858	2253	1	.2	.2	X
cblr-13858	2253	2	.	.	PUNCT
cblr-13858	2254	1	see	see	VERB
cblr-13858	2254	2	request	request	NOUN
cblr-13858	2254	3	for	for	ADP
cblr-13858	2254	4	rulemaking	rulemake	VERB
cblr-13858	2254	5	to	to	PART
cblr-13858	2254	6	exempt	exempt	VERB
cblr-13858	2254	7	securities	security	NOUN
cblr-13858	2254	8	offerings	offering	NOUN
cblr-13858	2254	9	up	up	ADP
cblr-13858	2254	10	to	to	PART
cblr-13858	2254	11	$	$	SYM
cblr-13858	2254	12	100,000	100,000	NUM
cblr-13858	2254	13	with	with	ADP
cblr-13858	2254	14	$	$	SYM
cblr-13858	2254	15	100	100	NUM
cblr-13858	2254	16	maximum	maximum	NOUN
cblr-13858	2254	17	per	per	ADP
cblr-13858	2254	18	investor	investor	NOUN
cblr-13858	2254	19	from	from	ADP
cblr-13858	2254	20	registration	registration	NOUN
cblr-13858	2254	21	,	,	PUNCT
cblr-13858	2254	22	supra	supra	ADJ
cblr-13858	2254	23	note	note	NOUN
cblr-13858	2254	24	400	400	NUM
cblr-13858	2254	25	,	,	PUNCT
cblr-13858	2254	26	at	at	ADP
cblr-13858	2254	27	7	7	NUM
cblr-13858	2254	28	(	(	PUNCT
cblr-13858	2254	29	arguing	argue	VERB
cblr-13858	2254	30	that	that	SCONJ
cblr-13858	2254	31	the	the	DET
cblr-13858	2254	32	proposed	propose	VERB
cblr-13858	2254	33	$	$	SYM
cblr-13858	2254	34	100	100	NUM
cblr-13858	2254	35	individual	individual	ADJ
cblr-13858	2254	36	investment	investment	NOUN
cblr-13858	2254	37	limit	limit	NOUN
cblr-13858	2254	38	would	would	AUX
cblr-13858	2254	39	prevent	prevent	VERB
cblr-13858	2254	40	investors	investor	NOUN
cblr-13858	2254	41	"	"	PUNCT
cblr-13858	2254	42	from	from	ADP
cblr-13858	2254	43	incurring	incur	VERB
cblr-13858	2254	44	significant	significant	ADJ
cblr-13858	2254	45	financial	financial	ADJ
cblr-13858	2254	46	risk	risk	NOUN
cblr-13858	2254	47	"	"	PUNCT
cblr-13858	2254	48	because	because	SCONJ
cblr-13858	2254	49	"	"	PUNCT
cblr-13858	2254	50	[	[	X
cblr-13858	2254	51	elven	elven	VERB
cblr-13858	2254	52	a	a	DET
cblr-13858	2254	53	total	total	ADJ
cblr-13858	2254	54	loss	loss	NOUN
cblr-13858	2254	55	of	of	ADP
cblr-13858	2254	56	$	$	SYM
cblr-13858	2254	57	100	100	NUM
cblr-13858	2254	58	is	be	AUX
cblr-13858	2254	59	unlikely	unlikely	ADJ
cblr-13858	2254	60	to	to	PART
cblr-13858	2254	61	be	be	AUX
cblr-13858	2254	62	financially	financially	ADV
cblr-13858	2254	63	crippling	crippling	ADJ
cblr-13858	2254	64	for	for	ADP
cblr-13858	2254	65	anyone	anyone	PRON
cblr-13858	2254	66	"	"	PUNCT
cblr-13858	2254	67	)	)	PUNCT
cblr-13858	2254	68	.	.	PUNCT
cblr-13858	2255	1	627	627	NUM
cblr-13858	2255	2	see	see	VERB
cblr-13858	2255	3	securities	security	NOUN
cblr-13858	2255	4	act	act	PROPN
cblr-13858	2255	5	rule	rule	VERB
cblr-13858	2255	6	251(b	251(b	PROPN
cblr-13858	2255	7	)	)	PUNCT
cblr-13858	2255	8	,	,	PUNCT
cblr-13858	2255	9	17	17	NUM
cblr-13858	2255	10	c.f.r	c.f.r	NOUN
cblr-13858	2255	11	.	.	PUNCT
cblr-13858	2256	1	§	§	PROPN
cblr-13858	2256	2	230.251(b	230.251(b	PROPN
cblr-13858	2256	3	)	)	PUNCT
cblr-13858	2256	4	(	(	PUNCT
cblr-13858	2256	5	2012	2012	NUM
cblr-13858	2256	6	)	)	PUNCT
cblr-13858	2256	7	(	(	PUNCT
cblr-13858	2256	8	cap	cap	NOUN
cblr-13858	2256	9	of	of	ADP
cblr-13858	2256	10	$	$	SYM
cblr-13858	2256	11	5	5	NUM
cblr-13858	2256	12	million	million	NUM
cblr-13858	2256	13	)	)	PUNCT
cblr-13858	2256	14	;	;	PUNCT
cblr-13858	2256	15	17	17	NUM
cblr-13858	2256	16	c.f.r	c.f.r	NOUN
cblr-13858	2256	17	.	.	PUNCT
cblr-13858	2257	1	§	§	PROPN
cblr-13858	2257	2	230.504(b)(2	230.504(b)(2	NUM
cblr-13858	2257	3	)	)	PUNCT
cblr-13858	2257	4	(	(	PUNCT
cblr-13858	2257	5	cap	cap	NOUN
cblr-13858	2257	6	of	of	ADP
cblr-13858	2257	7	$	$	SYM
cblr-13858	2257	8	1	1	NUM
cblr-13858	2257	9	million	million	NUM
cblr-13858	2257	10	)	)	PUNCT
cblr-13858	2257	11	;	;	PUNCT
cblr-13858	2257	12	17	17	NUM
cblr-13858	2257	13	c.f.r	c.f.r	NOUN
cblr-13858	2257	14	.	.	PUNCT
cblr-13858	2258	1	§	§	PROPN
cblr-13858	2258	2	230.505(b)(2)(i	230.505(b)(2)(i	NUM
cblr-13858	2258	3	)	)	PUNCT
cblr-13858	2258	4	(	(	PUNCT
cblr-13858	2258	5	cap	cap	NOUN
cblr-13858	2258	6	of	of	ADP
cblr-13858	2258	7	$	$	SYM
cblr-13858	2258	8	5	5	NUM
cblr-13858	2258	9	million	million	NUM
cblr-13858	2258	10	)	)	PUNCT
cblr-13858	2258	11	.	.	PUNCT
cblr-13858	2259	1	628	628	NUM
cblr-13858	2259	2	see	see	VERB
cblr-13858	2259	3	securities	security	NOUN
cblr-13858	2259	4	act	act	PROPN
cblr-13858	2259	5	rule	rule	VERB
cblr-13858	2259	6	506(b)(2)(ii	506(b)(2)(ii	NUM
cblr-13858	2259	7	)	)	PUNCT
cblr-13858	2259	8	,	,	PUNCT
cblr-13858	2259	9	17	17	NUM
cblr-13858	2259	10	c.f.r	c.f.r	NOUN
cblr-13858	2259	11	.	.	PUNCT
cblr-13858	2260	1	§	§	PROPN
cblr-13858	2260	2	230.506(b)(2)(ii	230.506(b)(2)(ii	NUM
cblr-13858	2260	3	)	)	PUNCT
cblr-13858	2261	1	;	;	PUNCT
cblr-13858	2261	2	securities	security	NOUN
cblr-13858	2261	3	act	act	VERB
cblr-13858	2261	4	§	§	PROPN
cblr-13858	2261	5	4(5	4(5	PROPN
cblr-13858	2261	6	)	)	PUNCT
cblr-13858	2261	7	,	,	PUNCT
cblr-13858	2261	8	15	15	NUM
cblr-13858	2261	9	u.s.c	u.s.c	ADJ
cblr-13858	2261	10	.	.	PUNCT
cblr-13858	2262	1	§	§	PROPN
cblr-13858	2262	2	77d(5	77d(5	NUM
cblr-13858	2262	3	)	)	PUNCT
cblr-13858	2262	4	(	(	PUNCT
cblr-13858	2262	5	2010	2010	NUM
cblr-13858	2262	6	)	)	PUNCT
cblr-13858	2262	7	.	.	PUNCT
cblr-13858	2262	8	"	"	PUNCT
cblr-13858	2263	1	securities	security	NOUN
cblr-13858	2263	2	act	act	NOUN
cblr-13858	2263	3	of	of	ADP
cblr-13858	2263	4	1933	1933	NUM
cblr-13858	2263	5	§	§	PROPN
cblr-13858	2263	6	4(5	4(5	PROPN
cblr-13858	2263	7	)	)	PUNCT
cblr-13858	2263	8	,	,	PUNCT
cblr-13858	2263	9	15	15	NUM
cblr-13858	2263	10	u.s.c	u.s.c	ADJ
cblr-13858	2263	11	.	.	PUNCT
cblr-13858	2264	1	§	§	PROPN
cblr-13858	2264	2	77d(5	77d(5	NUM
cblr-13858	2264	3	)	)	PUNCT
cblr-13858	2264	4	(	(	PUNCT
cblr-13858	2264	5	2010	2010	NUM
cblr-13858	2264	6	)	)	PUNCT
cblr-13858	2264	7	.	.	PUNCT
cblr-13858	2265	1	123cro	123cro	NUM
cblr-13858	2265	2	wdfunding	wdfunde	VERB
cblr-13858	2265	3	and	and	CCONJ
cblr-13858	2265	4	securities	security	NOUN
cblr-13858	2265	5	la	la	ADV
cblr-13858	2265	6	wsno	wsno	ADJ
cblr-13858	2265	7	.	.	PUNCT
cblr-13858	2266	1	i:1]1	i:1]1	NOUN
cblr-13858	2266	2	are	be	AUX
cblr-13858	2266	3	]	]	PUNCT
cblr-13858	2266	4	.	.	PUNCT
cblr-13858	2266	5	.	.	PUNCT
cblr-13858	2266	6	.	.	PUNCT
cblr-13858	2267	1	capable	capable	ADJ
cblr-13858	2267	2	of	of	ADP
cblr-13858	2267	3	evaluating	evaluate	VERB
cblr-13858	2267	4	the	the	DET
cblr-13858	2267	5	merits	merit	NOUN
cblr-13858	2267	6	and	and	CCONJ
cblr-13858	2267	7	risks	risk	NOUN
cblr-13858	2267	8	of	of	ADP
cblr-13858	2267	9	the	the	DET
cblr-13858	2267	10	prospective	prospective	ADJ
cblr-13858	2267	11	investment	investment	NOUN
cblr-13858	2267	12	..	..	PUNCT
cblr-13858	2268	1	."630	."630	PROPN
cblr-13858	2268	2	rule	rule	NOUN
cblr-13858	2268	3	506	506	NUM
cblr-13858	2268	4	is	be	AUX
cblr-13858	2268	5	a	a	DET
cblr-13858	2268	6	safe	safe	ADJ
cblr-13858	2268	7	harbor	harbor	NOUN
cblr-13858	2268	8	for	for	ADP
cblr-13858	2268	9	section	section	NOUN
cblr-13858	2268	10	4(2	4(2	NUM
cblr-13858	2268	11	)	)	PUNCT
cblr-13858	2268	12	of	of	ADP
cblr-13858	2268	13	the	the	DET
cblr-13858	2268	14	securities	security	NOUN
cblr-13858	2268	15	act	act	PROPN
cblr-13858	2268	16	,	,	PUNCT
cblr-13858	2268	17	and	and	CCONJ
cblr-13858	2268	18	the	the	DET
cblr-13858	2268	19	sophistication	sophistication	NOUN
cblr-13858	2268	20	requirement	requirement	NOUN
cblr-13858	2268	21	is	be	AUX
cblr-13858	2268	22	consistent	consistent	ADJ
cblr-13858	2268	23	with	with	ADP
cblr-13858	2268	24	the	the	DET
cblr-13858	2268	25	supreme	supreme	PROPN
cblr-13858	2268	26	court	court	PROPN
cblr-13858	2268	27	's	's	PART
cblr-13858	2268	28	analysis	analysis	NOUN
cblr-13858	2268	29	of	of	ADP
cblr-13858	2268	30	the	the	DET
cblr-13858	2268	31	section	section	NOUN
cblr-13858	2268	32	4(2	4(2	NUM
cblr-13858	2268	33	)	)	PUNCT
cblr-13858	2268	34	exemption	exemption	NOUN
cblr-13858	2268	35	in	in	ADP
cblr-13858	2268	36	ralston	ralston	PROPN
cblr-13858	2268	37	purina	purina	PROPN
cblr-13858	2268	38	.	.	PUNCT
cblr-13858	2269	1	in	in	ADP
cblr-13858	2269	2	ralston	ralston	PROPN
cblr-13858	2269	3	purina	purina	PROPN
cblr-13858	2269	4	,	,	PUNCT
cblr-13858	2269	5	the	the	DET
cblr-13858	2269	6	court	court	NOUN
cblr-13858	2269	7	indicated	indicate	VERB
cblr-13858	2269	8	that	that	SCONJ
cblr-13858	2269	9	the	the	DET
cblr-13858	2269	10	availability	availability	NOUN
cblr-13858	2269	11	of	of	ADP
cblr-13858	2269	12	the	the	DET
cblr-13858	2269	13	section	section	NOUN
cblr-13858	2269	14	4(2	4(2	NUM
cblr-13858	2269	15	)	)	PUNCT
cblr-13858	2269	16	exemption	exemption	NOUN
cblr-13858	2269	17	turns	turn	VERB
cblr-13858	2269	18	on	on	ADP
cblr-13858	2269	19	whether	whether	SCONJ
cblr-13858	2269	20	the	the	DET
cblr-13858	2269	21	offerees	offeree	NOUN
cblr-13858	2269	22	"	"	PUNCT
cblr-13858	2269	23	need	need	VERB
cblr-13858	2269	24	the	the	DET
cblr-13858	2269	25	protection	protection	NOUN
cblr-13858	2269	26	of	of	ADP
cblr-13858	2269	27	the	the	DET
cblr-13858	2269	28	act	act	NOUN
cblr-13858	2269	29	"	"	PUNCT
cblr-13858	2269	30	or	or	CCONJ
cblr-13858	2269	31	are	be	AUX
cblr-13858	2269	32	"	"	PUNCT
cblr-13858	2269	33	able	able	ADJ
cblr-13858	2269	34	to	to	PART
cblr-13858	2269	35	fend	fend	VERB
cblr-13858	2269	36	for	for	ADP
cblr-13858	2269	37	themselves	themselves	PRON
cblr-13858	2269	38	.	.	PUNCT
cblr-13858	2270	1	""s	""s	PUNCT
cblr-13858	2270	2	'	'	PUNCT
cblr-13858	2270	3	but	but	CCONJ
cblr-13858	2270	4	under	under	ADP
cblr-13858	2270	5	rule	rule	NOUN
cblr-13858	2270	6	506	506	NUM
cblr-13858	2270	7	,	,	PUNCT
cblr-13858	2270	8	sales	sale	NOUN
cblr-13858	2270	9	may	may	AUX
cblr-13858	2270	10	be	be	AUX
cblr-13858	2270	11	made	make	VERB
cblr-13858	2270	12	even	even	ADV
cblr-13858	2270	13	to	to	ADP
cblr-13858	2270	14	unsophisticated	unsophisticated	ADJ
cblr-13858	2270	15	investors	investor	NOUN
cblr-13858	2270	16	,	,	PUNCT
cblr-13858	2270	17	as	as	ADV
cblr-13858	2270	18	long	long	ADV
cblr-13858	2270	19	as	as	SCONJ
cblr-13858	2270	20	they	they	PRON
cblr-13858	2270	21	are	be	AUX
cblr-13858	2270	22	accredited.63	accredited.63	ADV
cblr-13858	2270	23	2	2	NUM
cblr-13858	2270	24	.	.	PUNCT
cblr-13858	2271	1	some	some	PRON
cblr-13858	2271	2	of	of	ADP
cblr-13858	2271	3	the	the	DET
cblr-13858	2271	4	categories	category	NOUN
cblr-13858	2271	5	of	of	ADP
cblr-13858	2271	6	accredited	accredit	VERB
cblr-13858	2271	7	investors	investor	NOUN
cblr-13858	2271	8	are	be	AUX
cblr-13858	2271	9	individuals	individual	NOUN
cblr-13858	2271	10	or	or	CCONJ
cblr-13858	2271	11	institutions	institution	NOUN
cblr-13858	2271	12	who	who	PRON
cblr-13858	2271	13	are	be	AUX
cblr-13858	2271	14	undoubtedly	undoubtedly	ADV
cblr-13858	2271	15	"	"	PUNCT
cblr-13858	2271	16	sophisticated	sophisticated	ADJ
cblr-13858	2271	17	.	.	PUNCT
cblr-13858	2272	1	"3	"3	NOUN
cblr-13858	2272	2	in	in	ADP
cblr-13858	2272	3	those	those	DET
cblr-13858	2272	4	cases	case	NOUN
cblr-13858	2272	5	,	,	PUNCT
cblr-13858	2272	6	accredited	accredit	VERB
cblr-13858	2272	7	status	status	NOUN
cblr-13858	2272	8	is	be	AUX
cblr-13858	2272	9	merely	merely	ADV
cblr-13858	2272	10	a	a	DET
cblr-13858	2272	11	more	more	ADV
cblr-13858	2272	12	objective	objective	ADJ
cblr-13858	2272	13	proxy	proxy	NOUN
cblr-13858	2272	14	for	for	ADP
cblr-13858	2272	15	sophistication	sophistication	NOUN
cblr-13858	2272	16	.	.	PUNCT
cblr-13858	2273	1	other	other	ADJ
cblr-13858	2273	2	parts	part	NOUN
cblr-13858	2273	3	of	of	ADP
cblr-13858	2273	4	the	the	DET
cblr-13858	2273	5	accredited	accredit	VERB
cblr-13858	2273	6	investor	investor	NOUN
cblr-13858	2273	7	definition	definition	NOUN
cblr-13858	2273	8	focus	focus	VERB
cblr-13858	2273	9	solely	solely	ADV
cblr-13858	2273	10	on	on	ADP
cblr-13858	2273	11	an	an	DET
cblr-13858	2273	12	investor	investor	NOUN
cblr-13858	2273	13	's	's	PART
cblr-13858	2273	14	wealth	wealth	NOUN
cblr-13858	2273	15	or	or	CCONJ
cblr-13858	2273	16	income	income	NOUN
cblr-13858	2273	17	.	.	PUNCT
cblr-13858	2274	1	any	any	DET
cblr-13858	2274	2	individual	individual	NOUN
cblr-13858	2274	3	whose	whose	DET
cblr-13858	2274	4	net	net	ADJ
cblr-13858	2274	5	worth	worth	NOUN
cblr-13858	2274	6	,	,	PUNCT
cblr-13858	2274	7	either	either	CCONJ
cblr-13858	2274	8	alone	alone	ADJ
cblr-13858	2274	9	or	or	CCONJ
cblr-13858	2274	10	with	with	ADP
cblr-13858	2274	11	a	a	DET
cblr-13858	2274	12	spouse	spouse	NOUN
cblr-13858	2274	13	,	,	PUNCT
cblr-13858	2274	14	exceeds	exceed	VERB
cblr-13858	2274	15	$	$	SYM
cblr-13858	2274	16	1	1	NUM
cblr-13858	2274	17	million	million	NUM
cblr-13858	2274	18	is	be	AUX
cblr-13858	2274	19	accredited,634	accredited,634	NOUN
cblr-13858	2274	20	as	as	SCONJ
cblr-13858	2274	21	are	be	AUX
cblr-13858	2274	22	corporations	corporation	NOUN
cblr-13858	2274	23	,	,	PUNCT
cblr-13858	2274	24	partnerships	partnership	NOUN
cblr-13858	2274	25	,	,	PUNCT
cblr-13858	2274	26	and	and	CCONJ
cblr-13858	2274	27	certain	certain	ADJ
cblr-13858	2274	28	other	other	ADJ
cblr-13858	2274	29	entities	entity	NOUN
cblr-13858	2274	30	with	with	ADP
cblr-13858	2274	31	total	total	ADJ
cblr-13858	2274	32	assets	asset	NOUN
cblr-13858	2274	33	in	in	ADP
cblr-13858	2274	34	excess	excess	NOUN
cblr-13858	2274	35	of	of	ADP
cblr-13858	2274	36	$	$	SYM
cblr-13858	2274	37	5	5	NUM
cblr-13858	2274	38	million.3	million.3	NOUN
cblr-13858	2274	39	an	an	DET
cblr-13858	2274	40	individual	individual	NOUN
cblr-13858	2274	41	is	be	AUX
cblr-13858	2274	42	also	also	ADV
cblr-13858	2274	43	an	an	DET
cblr-13858	2274	44	accredited	accredited	ADJ
cblr-13858	2274	45	investor	investor	NOUN
cblr-13858	2274	46	if	if	SCONJ
cblr-13858	2274	47	she	she	PRON
cblr-13858	2274	48	has	have	AUX
cblr-13858	2274	49	had	have	VERB
cblr-13858	2274	50	an	an	DET
cblr-13858	2274	51	income	income	NOUN
cblr-13858	2274	52	of	of	ADP
cblr-13858	2274	53	630	630	NUM
cblr-13858	2274	54	17	17	NUM
cblr-13858	2274	55	c.f.r	c.f.r	NOUN
cblr-13858	2274	56	.	.	PUNCT
cblr-13858	2275	1	§	§	PROPN
cblr-13858	2275	2	230.506(b)(2)(ii	230.506(b)(2)(ii	NUM
cblr-13858	2275	3	)	)	PUNCT
cblr-13858	2275	4	.	.	PUNCT
cblr-13858	2276	1	even	even	ADV
cblr-13858	2276	2	if	if	SCONJ
cblr-13858	2276	3	a	a	DET
cblr-13858	2276	4	non	non	ADJ
cblr-13858	2276	5	-	-	ADJ
cblr-13858	2276	6	accredited	accredited	ADJ
cblr-13858	2276	7	investor	investor	NOUN
cblr-13858	2276	8	does	do	AUX
cblr-13858	2276	9	not	not	PART
cblr-13858	2276	10	meet	meet	VERB
cblr-13858	2276	11	the	the	DET
cblr-13858	2276	12	sophistication	sophistication	NOUN
cblr-13858	2276	13	requirement	requirement	NOUN
cblr-13858	2276	14	,	,	PUNCT
cblr-13858	2276	15	the	the	DET
cblr-13858	2276	16	exemption	exemption	NOUN
cblr-13858	2276	17	is	be	AUX
cblr-13858	2276	18	still	still	ADV
cblr-13858	2276	19	available	available	ADJ
cblr-13858	2276	20	if	if	SCONJ
cblr-13858	2276	21	the	the	DET
cblr-13858	2276	22	investor	investor	NOUN
cblr-13858	2276	23	is	be	AUX
cblr-13858	2276	24	represented	represent	VERB
cblr-13858	2276	25	by	by	ADP
cblr-13858	2276	26	someone	someone	PRON
cblr-13858	2276	27	who	who	PRON
cblr-13858	2276	28	meets	meet	VERB
cblr-13858	2276	29	the	the	DET
cblr-13858	2276	30	requirement	requirement	NOUN
cblr-13858	2276	31	or	or	CCONJ
cblr-13858	2276	32	if	if	SCONJ
cblr-13858	2276	33	the	the	DET
cblr-13858	2276	34	issuer	issuer	NOUN
cblr-13858	2276	35	reasonably	reasonably	ADV
cblr-13858	2276	36	believes	believe	VERB
cblr-13858	2276	37	that	that	SCONJ
cblr-13858	2276	38	the	the	DET
cblr-13858	2276	39	purchaser	purchaser	NOUN
cblr-13858	2276	40	meets	meet	VERB
cblr-13858	2276	41	the	the	DET
cblr-13858	2276	42	sophistication	sophistication	NOUN
cblr-13858	2276	43	requirement	requirement	NOUN
cblr-13858	2276	44	.	.	PUNCT
cblr-13858	2277	1	i	i	PRON
cblr-13858	2277	2	d.	d.	PROPN
cblr-13858	2277	3	631	631	NUM
cblr-13858	2278	1	sec	sec	PROPN
cblr-13858	2278	2	v.	v.	PROPN
cblr-13858	2278	3	ralston	ralston	PROPN
cblr-13858	2278	4	purina	purina	PROPN
cblr-13858	2278	5	co.	co.	PROPN
cblr-13858	2278	6	,	,	PUNCT
cblr-13858	2278	7	346	346	NUM
cblr-13858	2278	8	u.s	u.s	PROPN
cblr-13858	2278	9	.	.	PROPN
cblr-13858	2278	10	119	119	NUM
cblr-13858	2278	11	,	,	PUNCT
cblr-13858	2278	12	125	125	NUM
cblr-13858	2278	13	(	(	PUNCT
cblr-13858	2278	14	1953	1953	NUM
cblr-13858	2278	15	)	)	PUNCT
cblr-13858	2278	16	.	.	PUNCT
cblr-13858	2279	1	see	see	VERB
cblr-13858	2279	2	also	also	ADV
cblr-13858	2279	3	1	1	NUM
cblr-13858	2279	4	hazen	hazen	NOUN
cblr-13858	2279	5	,	,	PUNCT
cblr-13858	2279	6	supra	supra	PROPN
cblr-13858	2279	7	note	note	PROPN
cblr-13858	2279	8	42	42	NUM
cblr-13858	2279	9	,	,	PUNCT
cblr-13858	2279	10	at	at	ADP
cblr-13858	2279	11	565	565	NUM
cblr-13858	2279	12	.	.	PUNCT
cblr-13858	2280	1	632	632	NUM
cblr-13858	2280	2	see	see	VERB
cblr-13858	2280	3	17	17	NUM
cblr-13858	2280	4	c.f.r	c.f.r	NOUN
cblr-13858	2280	5	.	.	PUNCT
cblr-13858	2281	1	§	§	PROPN
cblr-13858	2281	2	230.506(b)(2)(ii	230.506(b)(2)(ii	NUM
cblr-13858	2281	3	)	)	PUNCT
cblr-13858	2281	4	(	(	PUNCT
cblr-13858	2281	5	requiring	require	VERB
cblr-13858	2281	6	"	"	PUNCT
cblr-13858	2281	7	each	each	DET
cblr-13858	2281	8	purchaser	purchaser	NOUN
cblr-13858	2281	9	who	who	PRON
cblr-13858	2281	10	is	be	AUX
cblr-13858	2281	11	not	not	PART
cblr-13858	2281	12	an	an	DET
cblr-13858	2281	13	accredited	accredited	ADJ
cblr-13858	2281	14	investor	investor	NOUN
cblr-13858	2281	15	"	"	PUNCT
cblr-13858	2281	16	to	to	PART
cblr-13858	2281	17	meet	meet	VERB
cblr-13858	2281	18	a	a	DET
cblr-13858	2281	19	sophistication	sophistication	NOUN
cblr-13858	2281	20	requirement	requirement	NOUN
cblr-13858	2281	21	)	)	PUNCT
cblr-13858	2281	22	.	.	PUNCT
cblr-13858	2282	1	moreover	moreover	ADV
cblr-13858	2282	2	,	,	PUNCT
cblr-13858	2282	3	the	the	DET
cblr-13858	2282	4	information	information	NOUN
cblr-13858	2282	5	requirements	requirement	NOUN
cblr-13858	2282	6	that	that	PRON
cblr-13858	2282	7	would	would	AUX
cblr-13858	2282	8	otherwise	otherwise	ADV
cblr-13858	2282	9	apply	apply	VERB
cblr-13858	2282	10	in	in	ADP
cblr-13858	2282	11	a	a	DET
cblr-13858	2282	12	rule	rule	NOUN
cblr-13858	2282	13	506	506	NUM
cblr-13858	2282	14	offering	offering	NOUN
cblr-13858	2282	15	do	do	AUX
cblr-13858	2282	16	not	not	PART
cblr-13858	2282	17	apply	apply	VERB
cblr-13858	2282	18	to	to	ADP
cblr-13858	2282	19	sales	sale	NOUN
cblr-13858	2282	20	to	to	ADP
cblr-13858	2282	21	accredited	accredited	ADJ
cblr-13858	2282	22	investors	investor	NOUN
cblr-13858	2282	23	.	.	PUNCT
cblr-13858	2283	1	see	see	VERB
cblr-13858	2283	2	17	17	NUM
cblr-13858	2283	3	c.f.r	c.f.r	NOUN
cblr-13858	2283	4	.	.	PUNCT
cblr-13858	2284	1	§	§	PROPN
cblr-13858	2284	2	230.502(b	230.502(b	NUM
cblr-13858	2284	3	)	)	PUNCT
cblr-13858	2284	4	.	.	PUNCT
cblr-13858	2284	5	"	"	PUNCT
cblr-13858	2285	1	for	for	ADP
cblr-13858	2285	2	example	example	NOUN
cblr-13858	2285	3	,	,	PUNCT
cblr-13858	2285	4	the	the	DET
cblr-13858	2285	5	definition	definition	NOUN
cblr-13858	2285	6	includes	include	VERB
cblr-13858	2285	7	registered	registered	ADJ
cblr-13858	2285	8	securities	security	NOUN
cblr-13858	2285	9	brokers	broker	NOUN
cblr-13858	2285	10	or	or	CCONJ
cblr-13858	2285	11	dealers	dealer	NOUN
cblr-13858	2285	12	,	,	PUNCT
cblr-13858	2285	13	registered	register	VERB
cblr-13858	2285	14	investment	investment	NOUN
cblr-13858	2285	15	companies	company	NOUN
cblr-13858	2285	16	,	,	PUNCT
cblr-13858	2285	17	banks	bank	NOUN
cblr-13858	2285	18	,	,	PUNCT
cblr-13858	2285	19	and	and	CCONJ
cblr-13858	2285	20	insurance	insurance	NOUN
cblr-13858	2285	21	companies	company	NOUN
cblr-13858	2285	22	.	.	PUNCT
cblr-13858	2286	1	see	see	VERB
cblr-13858	2286	2	17	17	NUM
cblr-13858	2286	3	c.f.r	c.f.r	NOUN
cblr-13858	2286	4	.	.	PUNCT
cblr-13858	2287	1	§	§	PROPN
cblr-13858	2287	2	§	§	PROPN
cblr-13858	2287	3	230.215(a	230.215(a	NUM
cblr-13858	2287	4	)	)	PUNCT
cblr-13858	2287	5	,	,	PUNCT
cblr-13858	2287	6	230.501(a)(1	230.501(a)(1	NUM
cblr-13858	2287	7	)	)	PUNCT
cblr-13858	2287	8	.	.	PUNCT
cblr-13858	2288	1	directors	director	NOUN
cblr-13858	2288	2	and	and	CCONJ
cblr-13858	2288	3	executive	executive	ADJ
cblr-13858	2288	4	officers	officer	NOUN
cblr-13858	2288	5	of	of	ADP
cblr-13858	2288	6	the	the	DET
cblr-13858	2288	7	issuer	issuer	NOUN
cblr-13858	2288	8	,	,	PUNCT
cblr-13858	2288	9	who	who	PRON
cblr-13858	2288	10	ordinarily	ordinarily	ADV
cblr-13858	2288	11	have	have	VERB
cblr-13858	2288	12	access	access	NOUN
cblr-13858	2288	13	to	to	ADP
cblr-13858	2288	14	information	information	NOUN
cblr-13858	2288	15	about	about	ADP
cblr-13858	2288	16	the	the	DET
cblr-13858	2288	17	issuer	issuer	NOUN
cblr-13858	2288	18	,	,	PUNCT
cblr-13858	2288	19	are	be	AUX
cblr-13858	2288	20	also	also	ADV
cblr-13858	2288	21	accredited	accredit	VERB
cblr-13858	2288	22	investors	investor	NOUN
cblr-13858	2288	23	.	.	PUNCT
cblr-13858	2289	1	see	see	VERB
cblr-13858	2289	2	17	17	NUM
cblr-13858	2289	3	c.f.r	c.f.r	NOUN
cblr-13858	2289	4	.	.	PUNCT
cblr-13858	2290	1	§	§	PROPN
cblr-13858	2290	2	§	§	PROPN
cblr-13858	2290	3	230.215(d	230.215(d	PROPN
cblr-13858	2290	4	)	)	PUNCT
cblr-13858	2290	5	,	,	PUNCT
cblr-13858	2290	6	230.501(a)(4	230.501(a)(4	NUM
cblr-13858	2290	7	)	)	PUNCT
cblr-13858	2290	8	.	.	PUNCT
cblr-13858	2291	1	63	63	NUM
cblr-13858	2291	2	see	see	VERB
cblr-13858	2291	3	17	17	NUM
cblr-13858	2291	4	c.f.r	c.f.r	NOUN
cblr-13858	2291	5	.	.	PUNCT
cblr-13858	2292	1	§	§	PROPN
cblr-13858	2292	2	§	§	PROPN
cblr-13858	2292	3	230.215(e	230.215(e	NUM
cblr-13858	2292	4	)	)	PUNCT
cblr-13858	2292	5	,	,	PUNCT
cblr-13858	2292	6	230.501(a)(5	230.501(a)(5	NUM
cblr-13858	2292	7	)	)	PUNCT
cblr-13858	2292	8	.	.	PUNCT
cblr-13858	2293	1	63	63	NUM
cblr-13858	2293	2	see	see	VERB
cblr-13858	2293	3	17	17	NUM
cblr-13858	2293	4	c.f.r	c.f.r	NOUN
cblr-13858	2293	5	.	.	PUNCT
cblr-13858	2294	1	§	§	PROPN
cblr-13858	2294	2	§	§	PROPN
cblr-13858	2294	3	215(c	215(c	PROPN
cblr-13858	2294	4	)	)	PUNCT
cblr-13858	2294	5	,	,	PUNCT
cblr-13858	2294	6	230.215(c	230.215(c	PROPN
cblr-13858	2294	7	)	)	PUNCT
cblr-13858	2294	8	,	,	PUNCT
cblr-13858	2294	9	230.501(a)(3	230.501(a)(3	NUM
cblr-13858	2294	10	)	)	PUNCT
cblr-13858	2294	11	.	.	PUNCT
cblr-13858	2295	1	col	col	PROPN
cblr-13858	2295	2	umia	umia	PROPN
cblr-13858	2295	3	b	b	PROPN
cblr-13858	2295	4	usiness	usiness	PROPN
cblr-13858	2295	5	la	la	PROPN
cblr-13858	2295	6	wre	wre	PROPN
cblr-13858	2295	7	vie	vie	PROPN
cblr-13858	2295	8	w	w	PROPN
cblr-13858	2296	1	[	[	X
cblr-13858	2296	2	vol	vol	NOUN
cblr-13858	2296	3	.	.	PUNCT
cblr-13858	2296	4	2012124	2012124	NUM
cblr-13858	2296	5	$	$	SYM
cblr-13858	2296	6	200,000	200,000	NUM
cblr-13858	2296	7	,	,	PUNCT
cblr-13858	2296	8	or	or	CCONJ
cblr-13858	2296	9	a	a	DET
cblr-13858	2296	10	joint	joint	ADJ
cblr-13858	2296	11	income	income	NOUN
cblr-13858	2296	12	with	with	ADP
cblr-13858	2296	13	her	her	PRON
cblr-13858	2296	14	spouse	spouse	NOUN
cblr-13858	2296	15	of	of	ADP
cblr-13858	2296	16	$	$	SYM
cblr-13858	2296	17	300,000	300,000	NUM
cblr-13858	2296	18	,	,	PUNCT
cblr-13858	2296	19	over	over	ADP
cblr-13858	2296	20	the	the	DET
cblr-13858	2296	21	two	two	NUM
cblr-13858	2296	22	previous	previous	ADJ
cblr-13858	2296	23	years	year	NOUN
cblr-13858	2296	24	,	,	PUNCT
cblr-13858	2296	25	provided	provide	VERB
cblr-13858	2296	26	she	she	PRON
cblr-13858	2296	27	reasonably	reasonably	ADV
cblr-13858	2296	28	expects	expect	VERB
cblr-13858	2296	29	to	to	PART
cblr-13858	2296	30	reach	reach	VERB
cblr-13858	2296	31	the	the	DET
cblr-13858	2296	32	same	same	ADJ
cblr-13858	2296	33	income	income	NOUN
cblr-13858	2296	34	in	in	ADP
cblr-13858	2296	35	the	the	DET
cblr-13858	2296	36	year	year	NOUN
cblr-13858	2296	37	of	of	ADP
cblr-13858	2296	38	the	the	DET
cblr-13858	2296	39	offering.6	offering.6	PROPN
cblr-13858	2296	40	36	36	NUM
cblr-13858	2296	41	many	many	ADJ
cblr-13858	2296	42	people	people	NOUN
cblr-13858	2296	43	who	who	PRON
cblr-13858	2296	44	are	be	AUX
cblr-13858	2296	45	accredited	accredit	VERB
cblr-13858	2296	46	investors	investor	NOUN
cblr-13858	2296	47	solely	solely	ADV
cblr-13858	2296	48	because	because	SCONJ
cblr-13858	2296	49	of	of	ADP
cblr-13858	2296	50	wealth	wealth	NOUN
cblr-13858	2296	51	or	or	CCONJ
cblr-13858	2296	52	income	income	NOUN
cblr-13858	2297	1	are	be	AUX
cblr-13858	2297	2	unsophisticated	unsophisticated	ADJ
cblr-13858	2298	1	investors.6	investors.6	DET
cblr-13858	2298	2	37	37	NUM
cblr-13858	2298	3	consider	consider	VERB
cblr-13858	2298	4	,	,	PUNCT
cblr-13858	2298	5	for	for	ADP
cblr-13858	2298	6	example	example	NOUN
cblr-13858	2298	7	,	,	PUNCT
cblr-13858	2298	8	the	the	DET
cblr-13858	2298	9	high	high	ADJ
cblr-13858	2298	10	school	school	NOUN
cblr-13858	2298	11	dropout	dropout	NOUN
cblr-13858	2298	12	who	who	PRON
cblr-13858	2298	13	wins	win	VERB
cblr-13858	2298	14	$	$	SYM
cblr-13858	2298	15	10	10	NUM
cblr-13858	2298	16	million	million	NUM
cblr-13858	2298	17	in	in	ADP
cblr-13858	2298	18	a	a	DET
cblr-13858	2298	19	lottery.63	lottery.63	NOUN
cblr-13858	2298	20	8	8	NUM
cblr-13858	2298	21	she	she	PRON
cblr-13858	2298	22	would	would	AUX
cblr-13858	2298	23	be	be	AUX
cblr-13858	2298	24	an	an	DET
cblr-13858	2298	25	accredited	accredited	ADJ
cblr-13858	2298	26	investor	investor	NOUN
cblr-13858	2298	27	,	,	PUNCT
cblr-13858	2298	28	even	even	ADV
cblr-13858	2298	29	though	though	SCONJ
cblr-13858	2298	30	the	the	DET
cblr-13858	2298	31	way	way	NOUN
cblr-13858	2298	32	in	in	ADP
cblr-13858	2298	33	which	which	PRON
cblr-13858	2298	34	she	she	PRON
cblr-13858	2298	35	accumulated	accumulate	VERB
cblr-13858	2298	36	her	her	PRON
cblr-13858	2298	37	wealth	wealth	NOUN
cblr-13858	2298	38	does	do	AUX
cblr-13858	2298	39	not	not	PART
cblr-13858	2298	40	demonstrate	demonstrate	VERB
cblr-13858	2298	41	that	that	SCONJ
cblr-13858	2298	42	she	she	PRON
cblr-13858	2298	43	is	be	AUX
cblr-13858	2298	44	capable	capable	ADJ
cblr-13858	2298	45	of	of	ADP
cblr-13858	2298	46	evaluating	evaluate	VERB
cblr-13858	2298	47	the	the	DET
cblr-13858	2298	48	merits	merit	NOUN
cblr-13858	2298	49	and	and	CCONJ
cblr-13858	2298	50	risks	risk	NOUN
cblr-13858	2298	51	of	of	ADP
cblr-13858	2298	52	investing	invest	VERB
cblr-13858	2298	53	in	in	ADP
cblr-13858	2298	54	the	the	DET
cblr-13858	2298	55	offering	offering	NOUN
cblr-13858	2298	56	.	.	PUNCT
cblr-13858	2299	1	the	the	DET
cblr-13858	2299	2	sec	sec	PROPN
cblr-13858	2299	3	's	's	PART
cblr-13858	2299	4	reasons	reason	NOUN
cblr-13858	2299	5	for	for	ADP
cblr-13858	2299	6	including	include	VERB
cblr-13858	2299	7	wealthy	wealthy	ADJ
cblr-13858	2299	8	but	but	CCONJ
cblr-13858	2299	9	unsophisticated	unsophisticated	ADJ
cblr-13858	2299	10	investors	investor	NOUN
cblr-13858	2299	11	in	in	ADP
cblr-13858	2299	12	the	the	DET
cblr-13858	2299	13	definition	definition	NOUN
cblr-13858	2299	14	of	of	ADP
cblr-13858	2299	15	"	"	PUNCT
cblr-13858	2299	16	accredited	accredited	ADJ
cblr-13858	2299	17	investor	investor	NOUN
cblr-13858	2299	18	"	"	PUNCT
cblr-13858	2299	19	are	be	AUX
cblr-13858	2299	20	unclear	unclear	ADJ
cblr-13858	2299	21	.	.	PUNCT
cblr-13858	2300	1	one	one	NUM
cblr-13858	2300	2	possibility	possibility	NOUN
cblr-13858	2300	3	is	be	AUX
cblr-13858	2300	4	that	that	SCONJ
cblr-13858	2300	5	wealth	wealth	NOUN
cblr-13858	2300	6	and	and	CCONJ
cblr-13858	2300	7	income	income	NOUN
cblr-13858	2300	8	are	be	AUX
cblr-13858	2300	9	just	just	ADV
cblr-13858	2300	10	extraordinarily	extraordinarily	ADV
cblr-13858	2300	11	imperfect	imperfect	ADJ
cblr-13858	2300	12	proxies	proxy	NOUN
cblr-13858	2300	13	for	for	ADP
cblr-13858	2300	14	sophistication	sophistication	NOUN
cblr-13858	2300	15	.	.	PUNCT
cblr-13858	2301	1	639	639	NUM
cblr-13858	2301	2	a	a	DET
cblr-13858	2301	3	more	more	ADV
cblr-13858	2301	4	plausible	plausible	ADJ
cblr-13858	2301	5	reason	reason	NOUN
cblr-13858	2301	6	,	,	PUNCT
cblr-13858	2301	7	though	though	ADV
cblr-13858	2301	8	,	,	PUNCT
cblr-13858	2301	9	is	be	AUX
cblr-13858	2301	10	that	that	SCONJ
cblr-13858	2301	11	wealthy	wealthy	ADJ
cblr-13858	2301	12	investors	investor	NOUN
cblr-13858	2301	13	can	can	AUX
cblr-13858	2301	14	afford	afford	VERB
cblr-13858	2301	15	to	to	PART
cblr-13858	2301	16	lose	lose	VERB
cblr-13858	2301	17	the	the	DET
cblr-13858	2301	18	money	money	NOUN
cblr-13858	2301	19	.	.	PUNCT
cblr-13858	2302	1	40	40	NUM
cblr-13858	2302	2	63	63	NUM
cblr-13858	2302	3	see	see	VERB
cblr-13858	2302	4	17	17	NUM
cblr-13858	2302	5	c.f.r	c.f.r	NOUN
cblr-13858	2302	6	.	.	PUNCT
cblr-13858	2303	1	§	§	PROPN
cblr-13858	2303	2	§	§	PROPN
cblr-13858	2303	3	230.215(f	230.215(f	NUM
cblr-13858	2303	4	)	)	PUNCT
cblr-13858	2303	5	,	,	PUNCT
cblr-13858	2303	6	230.501(a)(6	230.501(a)(6	NUM
cblr-13858	2303	7	)	)	PUNCT
cblr-13858	2303	8	.	.	PUNCT
cblr-13858	2304	1	"	"	PUNCT
cblr-13858	2304	2	see	see	VERB
cblr-13858	2304	3	choi	choi	NOUN
cblr-13858	2304	4	,	,	PUNCT
cblr-13858	2304	5	supra	supra	PROPN
cblr-13858	2304	6	note	note	PROPN
cblr-13858	2304	7	510	510	NUM
cblr-13858	2304	8	,	,	PUNCT
cblr-13858	2304	9	at	at	ADP
cblr-13858	2304	10	311	311	NUM
cblr-13858	2304	11	(	(	PUNCT
cblr-13858	2304	12	stating	state	VERB
cblr-13858	2304	13	that	that	SCONJ
cblr-13858	2304	14	the	the	DET
cblr-13858	2304	15	definition	definition	NOUN
cblr-13858	2304	16	of	of	ADP
cblr-13858	2304	17	accredited	accredited	ADJ
cblr-13858	2304	18	investor	investor	NOUN
cblr-13858	2304	19	may	may	AUX
cblr-13858	2304	20	include	include	VERB
cblr-13858	2304	21	"	"	PUNCT
cblr-13858	2304	22	financial	financial	ADJ
cblr-13858	2304	23	neophytes	neophyte	NOUN
cblr-13858	2304	24	"	"	PUNCT
cblr-13858	2304	25	)	)	PUNCT
cblr-13858	2304	26	;	;	PUNCT
cblr-13858	2304	27	friedman	friedman	PROPN
cblr-13858	2304	28	,	,	PUNCT
cblr-13858	2304	29	supra	supra	PROPN
cblr-13858	2304	30	note	note	VERB
cblr-13858	2304	31	565	565	NUM
cblr-13858	2304	32	,	,	PUNCT
cblr-13858	2304	33	at	at	ADP
cblr-13858	2304	34	299	299	NUM
cblr-13858	2304	35	(	(	PUNCT
cblr-13858	2304	36	stating	state	VERB
cblr-13858	2304	37	that	that	SCONJ
cblr-13858	2304	38	wealthy	wealthy	ADJ
cblr-13858	2304	39	investors	investor	NOUN
cblr-13858	2304	40	are	be	AUX
cblr-13858	2304	41	"	"	PUNCT
cblr-13858	2304	42	easy	easy	ADJ
cblr-13858	2304	43	prey	prey	NOUN
cblr-13858	2304	44	for	for	ADP
cblr-13858	2304	45	securities	security	NOUN
cblr-13858	2304	46	sales	sale	NOUN
cblr-13858	2304	47	personnel	personnel	NOUN
cblr-13858	2304	48	"	"	PUNCT
cblr-13858	2304	49	)	)	PUNCT
cblr-13858	2304	50	;	;	PUNCT
cblr-13858	2304	51	manning	man	VERB
cblr-13858	2304	52	gilbert	gilbert	PROPN
cblr-13858	2304	53	warren	warren	PROPN
cblr-13858	2304	54	iii	iii	PROPN
cblr-13858	2304	55	,	,	PUNCT
cblr-13858	2304	56	a	a	DET
cblr-13858	2304	57	review	review	NOUN
cblr-13858	2304	58	of	of	ADP
cblr-13858	2304	59	regulation	regulation	NOUN
cblr-13858	2304	60	d	d	NOUN
cblr-13858	2304	61	:	:	PUNCT
cblr-13858	2304	62	the	the	DET
cblr-13858	2304	63	present	present	ADJ
cblr-13858	2304	64	exemption	exemption	NOUN
cblr-13858	2304	65	regimen	regiman	NOUN
cblr-13858	2304	66	for	for	ADP
cblr-13858	2304	67	limited	limited	ADJ
cblr-13858	2304	68	offerings	offering	NOUN
cblr-13858	2304	69	under	under	ADP
cblr-13858	2304	70	the	the	DET
cblr-13858	2304	71	securities	security	NOUN
cblr-13858	2304	72	act	act	NOUN
cblr-13858	2304	73	of	of	ADP
cblr-13858	2304	74	1933	1933	NUM
cblr-13858	2304	75	,	,	PUNCT
cblr-13858	2304	76	33	33	NUM
cblr-13858	2304	77	am	am	NOUN
cblr-13858	2304	78	.	.	PUNCT
cblr-13858	2305	1	u.	u.	PROPN
cblr-13858	2305	2	l.	l.	PROPN
cblr-13858	2305	3	rev	rev	PROPN
cblr-13858	2305	4	.	.	PROPN
cblr-13858	2305	5	355	355	NUM
cblr-13858	2305	6	,	,	PUNCT
cblr-13858	2305	7	382	382	NUM
cblr-13858	2305	8	(	(	PUNCT
cblr-13858	2305	9	1984	1984	NUM
cblr-13858	2305	10	)	)	PUNCT
cblr-13858	2305	11	(	(	PUNCT
cblr-13858	2305	12	"	"	PUNCT
cblr-13858	2305	13	experience	experience	NOUN
cblr-13858	2305	14	indicates	indicate	VERB
cblr-13858	2305	15	that	that	SCONJ
cblr-13858	2305	16	the	the	DET
cblr-13858	2305	17	wealthy	wealthy	ADJ
cblr-13858	2305	18	often	often	ADV
cblr-13858	2305	19	do	do	AUX
cblr-13858	2305	20	not	not	PART
cblr-13858	2305	21	have	have	VERB
cblr-13858	2305	22	the	the	DET
cblr-13858	2305	23	sophistication	sophistication	NOUN
cblr-13858	2305	24	to	to	PART
cblr-13858	2305	25	demand	demand	VERB
cblr-13858	2305	26	access	access	NOUN
cblr-13858	2305	27	to	to	ADP
cblr-13858	2305	28	material	material	NOUN
cblr-13858	2305	29	information	information	NOUN
cblr-13858	2305	30	or	or	CCONJ
cblr-13858	2305	31	otherwise	otherwise	ADV
cblr-13858	2305	32	to	to	PART
cblr-13858	2305	33	evaluate	evaluate	VERB
cblr-13858	2305	34	the	the	DET
cblr-13858	2305	35	merits	merit	NOUN
cblr-13858	2305	36	and	and	CCONJ
cblr-13858	2305	37	risks	risk	NOUN
cblr-13858	2305	38	of	of	ADP
cblr-13858	2305	39	a	a	DET
cblr-13858	2305	40	prospective	prospective	ADJ
cblr-13858	2305	41	investment	investment	NOUN
cblr-13858	2305	42	.	.	PUNCT
cblr-13858	2305	43	"	"	PUNCT
cblr-13858	2305	44	)	)	PUNCT
cblr-13858	2305	45	.	.	PUNCT
cblr-13858	2306	1	6	6	NUM
cblr-13858	2306	2	"	"	PUNCT
cblr-13858	2306	3	this	this	DET
cblr-13858	2306	4	example	example	NOUN
cblr-13858	2306	5	is	be	AUX
cblr-13858	2306	6	derived	derive	VERB
cblr-13858	2306	7	from	from	ADP
cblr-13858	2306	8	a	a	DET
cblr-13858	2306	9	problem	problem	NOUN
cblr-13858	2306	10	in	in	ADP
cblr-13858	2306	11	james	james	PROPN
cblr-13858	2306	12	d.	d.	PROPN
cblr-13858	2306	13	cox	cox	PROPN
cblr-13858	2306	14	,	,	PUNCT
cblr-13858	2306	15	robert	robert	PROPN
cblr-13858	2306	16	w.	w.	PROPN
cblr-13858	2306	17	hillman	hillman	PROPN
cblr-13858	2306	18	&	&	CCONJ
cblr-13858	2306	19	donald	donald	PROPN
cblr-13858	2306	20	c.	c.	PROPN
cblr-13858	2306	21	langevoort	langevoort	PROPN
cblr-13858	2306	22	,	,	PUNCT
cblr-13858	2306	23	securities	security	NOUN
cblr-13858	2306	24	regulation	regulation	NOUN
cblr-13858	2306	25	:	:	PUNCT
cblr-13858	2306	26	cases	case	NOUN
cblr-13858	2306	27	and	and	CCONJ
cblr-13858	2306	28	materials	material	NOUN
cblr-13858	2306	29	270	270	NUM
cblr-13858	2306	30	-	-	SYM
cblr-13858	2306	31	71	71	NUM
cblr-13858	2306	32	(	(	PUNCT
cblr-13858	2306	33	6th	6th	ADJ
cblr-13858	2306	34	ed	ed	NOUN
cblr-13858	2306	35	.	.	PROPN
cblr-13858	2306	36	2009	2009	NUM
cblr-13858	2306	37	)	)	PUNCT
cblr-13858	2306	38	.	.	PUNCT
cblr-13858	2307	1	see	see	VERB
cblr-13858	2307	2	also	also	ADV
cblr-13858	2307	3	wallis	wallis	PROPN
cblr-13858	2307	4	k.	k.	PROPN
cblr-13858	2307	5	finger	finger	PROPN
cblr-13858	2307	6	,	,	PUNCT
cblr-13858	2307	7	note	note	NOUN
cblr-13858	2307	8	,	,	PUNCT
cblr-13858	2307	9	unsophisticated	unsophisticated	ADJ
cblr-13858	2307	10	wealth	wealth	NOUN
cblr-13858	2307	11	:	:	PUNCT
cblr-13858	2307	12	reconsidering	reconsider	VERB
cblr-13858	2307	13	the	the	DET
cblr-13858	2307	14	sec	sec	PROPN
cblr-13858	2307	15	's	's	PART
cblr-13858	2307	16	"	"	PUNCT
cblr-13858	2307	17	accredited	accredited	ADJ
cblr-13858	2307	18	investor	investor	NOUN
cblr-13858	2307	19	"	"	PUNCT
cblr-13858	2307	20	definition	definition	NOUN
cblr-13858	2307	21	under	under	ADP
cblr-13858	2307	22	the	the	DET
cblr-13858	2307	23	1933	1933	NUM
cblr-13858	2307	24	act	act	NOUN
cblr-13858	2307	25	,	,	PUNCT
cblr-13858	2307	26	86	86	NUM
cblr-13858	2307	27	wash	wash	NOUN
cblr-13858	2307	28	.	.	PUNCT
cblr-13858	2308	1	u.	u.	PROPN
cblr-13858	2308	2	l.	l.	PROPN
cblr-13858	2308	3	rev	rev	PROPN
cblr-13858	2308	4	.	.	PROPN
cblr-13858	2308	5	733	733	NUM
cblr-13858	2308	6	,	,	PUNCT
cblr-13858	2308	7	754	754	NUM
cblr-13858	2308	8	(	(	PUNCT
cblr-13858	2308	9	2009	2009	NUM
cblr-13858	2308	10	)	)	PUNCT
cblr-13858	2308	11	.	.	PUNCT
cblr-13858	2309	1	63	63	NUM
cblr-13858	2309	2	see	see	VERB
cblr-13858	2309	3	finger	finger	NOUN
cblr-13858	2309	4	,	,	PUNCT
cblr-13858	2309	5	supra	supra	PROPN
cblr-13858	2309	6	note	note	NOUN
cblr-13858	2309	7	638	638	NUM
cblr-13858	2309	8	,	,	PUNCT
cblr-13858	2309	9	at	at	ADP
cblr-13858	2309	10	747	747	NUM
cblr-13858	2309	11	(	(	PUNCT
cblr-13858	2309	12	noting	note	VERB
cblr-13858	2309	13	that	that	SCONJ
cblr-13858	2309	14	the	the	DET
cblr-13858	2309	15	sec	sec	PROPN
cblr-13858	2309	16	's	's	PART
cblr-13858	2309	17	goal	goal	NOUN
cblr-13858	2309	18	in	in	ADP
cblr-13858	2309	19	regulation	regulation	NOUN
cblr-13858	2309	20	d	d	NOUN
cblr-13858	2309	21	was	be	AUX
cblr-13858	2309	22	to	to	PART
cblr-13858	2309	23	use	use	VERB
cblr-13858	2309	24	wealth	wealth	NOUN
cblr-13858	2309	25	as	as	ADP
cblr-13858	2309	26	a	a	DET
cblr-13858	2309	27	proxy	proxy	NOUN
cblr-13858	2309	28	for	for	ADP
cblr-13858	2309	29	whether	whether	SCONJ
cblr-13858	2309	30	an	an	DET
cblr-13858	2309	31	investor	investor	NOUN
cblr-13858	2309	32	is	be	AUX
cblr-13858	2309	33	capable	capable	ADJ
cblr-13858	2309	34	of	of	ADP
cblr-13858	2309	35	fending	fend	VERB
cblr-13858	2309	36	for	for	ADP
cblr-13858	2309	37	herself	herself	PRON
cblr-13858	2309	38	)	)	PUNCT
cblr-13858	2309	39	;	;	PUNCT
cblr-13858	2309	40	c.	c.	PROPN
cblr-13858	2309	41	edward	edward	PROPN
cblr-13858	2309	42	fletcher	fletcher	PROPN
cblr-13858	2309	43	,	,	PUNCT
cblr-13858	2309	44	iii	iii	PROPN
cblr-13858	2309	45	,	,	PUNCT
cblr-13858	2309	46	sophisticated	sophisticated	ADJ
cblr-13858	2309	47	investors	investor	NOUN
cblr-13858	2309	48	under	under	ADP
cblr-13858	2309	49	the	the	DET
cblr-13858	2309	50	federal	federal	ADJ
cblr-13858	2309	51	securities	security	NOUN
cblr-13858	2309	52	laws	law	NOUN
cblr-13858	2309	53	,	,	PUNCT
cblr-13858	2309	54	1988	1988	NUM
cblr-13858	2309	55	duke	duke	PROPN
cblr-13858	2309	56	l.j	l.j	PROPN
cblr-13858	2309	57	.	.	PROPN
cblr-13858	2309	58	1081	1081	NUM
cblr-13858	2309	59	,	,	PUNCT
cblr-13858	2309	60	1124	1124	NUM
cblr-13858	2309	61	(	(	PUNCT
cblr-13858	2309	62	1988	1988	NUM
cblr-13858	2309	63	)	)	PUNCT
cblr-13858	2309	64	(	(	PUNCT
cblr-13858	2309	65	arguing	argue	VERB
cblr-13858	2309	66	that	that	SCONJ
cblr-13858	2309	67	"	"	PUNCT
cblr-13858	2309	68	the	the	DET
cblr-13858	2309	69	sec	sec	PROPN
cblr-13858	2309	70	assumes	assume	VERB
cblr-13858	2309	71	either	either	CCONJ
cblr-13858	2309	72	that	that	SCONJ
cblr-13858	2309	73	wealthy	wealthy	ADJ
cblr-13858	2309	74	investors	investor	NOUN
cblr-13858	2309	75	are	be	AUX
cblr-13858	2309	76	always	always	ADV
cblr-13858	2309	77	sophisticated	sophisticated	ADJ
cblr-13858	2309	78	or	or	CCONJ
cblr-13858	2309	79	that	that	SCONJ
cblr-13858	2309	80	they	they	PRON
cblr-13858	2309	81	,	,	PUNCT
cblr-13858	2309	82	no	no	ADV
cblr-13858	2309	83	matter	matter	ADV
cblr-13858	2309	84	how	how	SCONJ
cblr-13858	2309	85	naive	naive	ADJ
cblr-13858	2309	86	,	,	PUNCT
cblr-13858	2309	87	do	do	AUX
cblr-13858	2309	88	not	not	PART
cblr-13858	2309	89	need	need	VERB
cblr-13858	2309	90	the	the	DET
cblr-13858	2309	91	protection	protection	NOUN
cblr-13858	2309	92	of	of	ADP
cblr-13858	2309	93	the	the	PRON
cblr-13858	2309	94	.	.	PUNCT
cblr-13858	2310	1	..	..	PUNCT
cblr-13858	2310	2	registration	registration	NOUN
cblr-13858	2310	3	provisions	provision	NOUN
cblr-13858	2310	4	"	"	PUNCT
cblr-13858	2310	5	)	)	PUNCT
cblr-13858	2310	6	;	;	PUNCT
cblr-13858	2310	7	friedman	friedman	PROPN
cblr-13858	2310	8	,	,	PUNCT
cblr-13858	2310	9	supra	supra	PROPN
cblr-13858	2310	10	note	note	VERB
cblr-13858	2310	11	565	565	NUM
cblr-13858	2310	12	,	,	PUNCT
cblr-13858	2310	13	at	at	ADP
cblr-13858	2310	14	301	301	NUM
cblr-13858	2310	15	;	;	PUNCT
cblr-13858	2310	16	marvin	marvin	PROPN
cblr-13858	2310	17	r.	r.	PROPN
cblr-13858	2310	18	mohney	mohney	PROPN
cblr-13858	2310	19	,	,	PUNCT
cblr-13858	2310	20	regulation	regulation	NOUN
cblr-13858	2310	21	d	d	NOUN
cblr-13858	2310	22	:	:	PUNCT
cblr-13858	2310	23	coherent	coherent	ADJ
cblr-13858	2310	24	exemptions	exemption	NOUN
cblr-13858	2310	25	for	for	ADP
cblr-13858	2310	26	small	small	ADJ
cblr-13858	2310	27	businesses	business	NOUN
cblr-13858	2310	28	under	under	ADP
cblr-13858	2310	29	the	the	DET
cblr-13858	2310	30	securities	security	NOUN
cblr-13858	2310	31	act	act	NOUN
cblr-13858	2310	32	of	of	ADP
cblr-13858	2310	33	1933	1933	NUM
cblr-13858	2310	34	,	,	PUNCT
cblr-13858	2310	35	24	24	NUM
cblr-13858	2310	36	wm	wm	PROPN
cblr-13858	2310	37	.	.	PROPN
cblr-13858	2310	38	&	&	CCONJ
cblr-13858	2310	39	mary	mary	PROPN
cblr-13858	2310	40	l.	l.	PROPN
cblr-13858	2310	41	rev	rev	PROPN
cblr-13858	2310	42	.	.	PROPN
cblr-13858	2310	43	121	121	NUM
cblr-13858	2310	44	,	,	PUNCT
cblr-13858	2310	45	165	165	NUM
cblr-13858	2310	46	(	(	PUNCT
cblr-13858	2310	47	1982	1982	NUM
cblr-13858	2310	48	)	)	PUNCT
cblr-13858	2310	49	(	(	PUNCT
cblr-13858	2310	50	noting	note	VERB
cblr-13858	2310	51	that	that	SCONJ
cblr-13858	2310	52	"	"	PUNCT
cblr-13858	2310	53	the	the	DET
cblr-13858	2310	54	sec	sec	PROPN
cblr-13858	2310	55	has	have	AUX
cblr-13858	2310	56	equated	equate	VERB
cblr-13858	2310	57	wealth	wealth	NOUN
cblr-13858	2310	58	with	with	ADP
cblr-13858	2310	59	sophistication	sophistication	NOUN
cblr-13858	2310	60	and	and	CCONJ
cblr-13858	2310	61	with	with	ADP
cblr-13858	2310	62	access	access	NOUN
cblr-13858	2310	63	to	to	ADP
cblr-13858	2310	64	information	information	NOUN
cblr-13858	2310	65	"	"	PUNCT
cblr-13858	2310	66	)	)	PUNCT
cblr-13858	2310	67	;	;	PUNCT
cblr-13858	2310	68	warren	warren	PROPN
cblr-13858	2310	69	,	,	PUNCT
cblr-13858	2310	70	supra	supra	PROPN
cblr-13858	2310	71	note	note	PROPN
cblr-13858	2310	72	637	637	NUM
cblr-13858	2310	73	,	,	PUNCT
cblr-13858	2310	74	at	at	ADP
cblr-13858	2310	75	381	381	NUM
cblr-13858	2310	76	(	(	PUNCT
cblr-13858	2310	77	noting	note	VERB
cblr-13858	2310	78	cro	cro	PROPN
cblr-13858	2310	79	wdfunding	wdfunding	NOUN
cblr-13858	2310	80	and	and	CCONJ
cblr-13858	2310	81	securities	security	NOUN
cblr-13858	2310	82	la	la	PROPN
cblr-13858	2310	83	ws	ws	PROPN
cblr-13858	2310	84	125no	125no	PROPN
cblr-13858	2310	85	.	.	PUNCT
cblr-13858	2311	1	i:1	i:1	PROPN
cblr-13858	2311	2	]	]	PUNCT
cblr-13858	2311	3	columbia	columbia	PROPN
cblr-13858	2311	4	business	business	PROPN
cblr-13858	2311	5	law	law	PROPN
cblr-13858	2311	6	review	review	NOUN
cblr-13858	2311	7	if	if	SCONJ
cblr-13858	2311	8	that	that	PRON
cblr-13858	2311	9	is	be	AUX
cblr-13858	2311	10	the	the	DET
cblr-13858	2311	11	rationale	rationale	NOUN
cblr-13858	2311	12	,	,	PUNCT
cblr-13858	2311	13	the	the	DET
cblr-13858	2311	14	existing	exist	VERB
cblr-13858	2311	15	exemptions	exemption	NOUN
cblr-13858	2311	16	do	do	AUX
cblr-13858	2311	17	not	not	PART
cblr-13858	2311	18	fit	fit	VERB
cblr-13858	2311	19	it	it	PRON
cblr-13858	2311	20	well	well	ADV
cblr-13858	2311	21	.	.	PUNCT
cblr-13858	2312	1	neither	neither	DET
cblr-13858	2312	2	section	section	NOUN
cblr-13858	2312	3	4(5	4(5	PROPN
cblr-13858	2312	4	)	)	PUNCT
cblr-13858	2312	5	nor	nor	CCONJ
cblr-13858	2312	6	rule	rule	VERB
cblr-13858	2312	7	506	506	NUM
cblr-13858	2312	8	limits	limit	NOUN
cblr-13858	2312	9	the	the	DET
cblr-13858	2312	10	amount	amount	NOUN
cblr-13858	2312	11	that	that	PRON
cblr-13858	2312	12	any	any	DET
cblr-13858	2312	13	single	single	ADJ
cblr-13858	2312	14	investor	investor	NOUN
cblr-13858	2312	15	may	may	AUX
cblr-13858	2312	16	invest	invest	VERB
cblr-13858	2312	17	in	in	ADP
cblr-13858	2312	18	the	the	DET
cblr-13858	2312	19	offering.641	offering.641	NOUN
cblr-13858	2312	20	thus	thus	ADV
cblr-13858	2312	21	,	,	PUNCT
cblr-13858	2312	22	an	an	DET
cblr-13858	2312	23	individual	individual	NOUN
cblr-13858	2312	24	with	with	ADP
cblr-13858	2312	25	a	a	DET
cblr-13858	2312	26	net	net	ADJ
cblr-13858	2312	27	worth	worth	NOUN
cblr-13858	2312	28	of	of	ADP
cblr-13858	2312	29	only	only	ADV
cblr-13858	2312	30	$	$	SYM
cblr-13858	2312	31	1	1	NUM
cblr-13858	2312	32	million	million	NUM
cblr-13858	2312	33	could	could	AUX
cblr-13858	2312	34	invest	invest	VERB
cblr-13858	2312	35	all	all	PRON
cblr-13858	2312	36	of	of	ADP
cblr-13858	2312	37	his	his	PRON
cblr-13858	2312	38	wealth	wealth	NOUN
cblr-13858	2312	39	in	in	ADP
cblr-13858	2312	40	a	a	DET
cblr-13858	2312	41	single	single	ADJ
cblr-13858	2312	42	risky	risky	ADJ
cblr-13858	2312	43	offering	offering	NOUN
cblr-13858	2312	44	,	,	PUNCT
cblr-13858	2312	45	and	and	CCONJ
cblr-13858	2312	46	a	a	DET
cblr-13858	2312	47	total	total	ADJ
cblr-13858	2312	48	loss	loss	NOUN
cblr-13858	2312	49	on	on	ADP
cblr-13858	2312	50	that	that	DET
cblr-13858	2312	51	one	one	NUM
cblr-13858	2312	52	investment	investment	NOUN
cblr-13858	2312	53	would	would	AUX
cblr-13858	2312	54	leave	leave	VERB
cblr-13858	2312	55	the	the	DET
cblr-13858	2312	56	investor	investor	NOUN
cblr-13858	2312	57	penniless	penniless	NOUN
cblr-13858	2312	58	.	.	PUNCT
cblr-13858	2313	1	and	and	CCONJ
cblr-13858	2313	2	an	an	DET
cblr-13858	2313	3	investor	investor	NOUN
cblr-13858	2313	4	whose	whose	DET
cblr-13858	2313	5	accredited	accredited	ADJ
cblr-13858	2313	6	status	status	NOUN
cblr-13858	2313	7	is	be	AUX
cblr-13858	2313	8	based	base	VERB
cblr-13858	2313	9	solely	solely	ADV
cblr-13858	2313	10	on	on	ADP
cblr-13858	2313	11	net	net	ADJ
cblr-13858	2313	12	income	income	NOUN
cblr-13858	2313	13	could	could	AUX
cblr-13858	2313	14	actually	actually	ADV
cblr-13858	2313	15	be	be	AUX
cblr-13858	2313	16	insolvent	insolvent	ADJ
cblr-13858	2313	17	at	at	ADP
cblr-13858	2313	18	the	the	DET
cblr-13858	2313	19	time	time	NOUN
cblr-13858	2313	20	of	of	ADP
cblr-13858	2313	21	purchase.642	purchase.642	VERB
cblr-13858	2313	22	the	the	DET
cblr-13858	2313	23	crowdfunding	crowdfunding	NOUN
cblr-13858	2313	24	exemption	exemption	NOUN
cblr-13858	2313	25	proposals	proposal	NOUN
cblr-13858	2313	26	focus	focus	VERB
cblr-13858	2313	27	on	on	ADP
cblr-13858	2313	28	the	the	DET
cblr-13858	2313	29	investor	investor	NOUN
cblr-13858	2313	30	's	's	PART
cblr-13858	2313	31	ability	ability	NOUN
cblr-13858	2313	32	to	to	PART
cblr-13858	2313	33	bear	bear	VERB
cblr-13858	2313	34	the	the	DET
cblr-13858	2313	35	loss	loss	NOUN
cblr-13858	2313	36	in	in	ADP
cblr-13858	2313	37	a	a	DET
cblr-13858	2313	38	much	much	ADV
cblr-13858	2313	39	more	more	ADV
cblr-13858	2313	40	coherent	coherent	ADJ
cblr-13858	2313	41	way	way	NOUN
cblr-13858	2313	42	.	.	PUNCT
cblr-13858	2314	1	b.	b.	VERB
cblr-13858	2314	2	how	how	SCONJ
cblr-13858	2314	3	to	to	PART
cblr-13858	2314	4	structure	structure	VERB
cblr-13858	2314	5	the	the	DET
cblr-13858	2314	6	cap	cap	NOUN
cblr-13858	2314	7	unfortunately	unfortunately	ADV
cblr-13858	2314	8	,	,	PUNCT
cblr-13858	2314	9	some	some	PRON
cblr-13858	2314	10	of	of	ADP
cblr-13858	2314	11	the	the	DET
cblr-13858	2314	12	crowdfunding	crowdfunding	NOUN
cblr-13858	2314	13	exemption	exemption	NOUN
cblr-13858	2314	14	proposals	proposal	NOUN
cblr-13858	2314	15	leave	leave	VERB
cblr-13858	2314	16	questions	question	NOUN
cblr-13858	2314	17	about	about	ADP
cblr-13858	2314	18	the	the	DET
cblr-13858	2314	19	individual	individual	ADJ
cblr-13858	2314	20	investment	investment	NOUN
cblr-13858	2314	21	limit	limit	NOUN
cblr-13858	2314	22	unanswered	unanswere	VERB
cblr-13858	2314	23	.	.	PUNCT
cblr-13858	2315	1	should	should	AUX
cblr-13858	2315	2	the	the	DET
cblr-13858	2315	3	limit	limit	NOUN
cblr-13858	2315	4	be	be	AUX
cblr-13858	2315	5	applied	apply	VERB
cblr-13858	2315	6	on	on	ADP
cblr-13858	2315	7	a	a	DET
cblr-13858	2315	8	peroffering	peroffere	VERB
cblr-13858	2315	9	basis	basis	NOUN
cblr-13858	2315	10	or	or	CCONJ
cblr-13858	2315	11	applied	apply	VERB
cblr-13858	2315	12	cumulatively	cumulatively	ADV
cblr-13858	2315	13	across	across	ADP
cblr-13858	2315	14	all	all	PRON
cblr-13858	2315	15	of	of	ADP
cblr-13858	2315	16	a	a	DET
cblr-13858	2315	17	person	person	NOUN
cblr-13858	2315	18	's	's	PART
cblr-13858	2315	19	that	that	SCONJ
cblr-13858	2315	20	the	the	DET
cblr-13858	2315	21	sec	sec	PROPN
cblr-13858	2315	22	presumes	presume	VERB
cblr-13858	2315	23	that	that	SCONJ
cblr-13858	2315	24	these	these	DET
cblr-13858	2315	25	investors	investor	NOUN
cblr-13858	2315	26	can	can	AUX
cblr-13858	2315	27	fend	fend	VERB
cblr-13858	2315	28	for	for	ADP
cblr-13858	2315	29	themselves	themselves	PRON
cblr-13858	2315	30	)	)	PUNCT
cblr-13858	2315	31	.	.	PUNCT
cblr-13858	2316	1	see	see	VERB
cblr-13858	2316	2	also	also	ADV
cblr-13858	2316	3	susan	susan	PROPN
cblr-13858	2316	4	e.	e.	PROPN
cblr-13858	2316	5	satkowski	satkowski	PROPN
cblr-13858	2316	6	,	,	PUNCT
cblr-13858	2316	7	rule	rule	VERB
cblr-13858	2316	8	242	242	NUM
cblr-13858	2316	9	and	and	CCONJ
cblr-13858	2316	10	section	section	NOUN
cblr-13858	2316	11	4(6	4(6	NUM
cblr-13858	2316	12	)	)	PUNCT
cblr-13858	2316	13	securities	security	NOUN
cblr-13858	2316	14	registration	registration	NOUN
cblr-13858	2316	15	exemptions	exemption	NOUN
cblr-13858	2316	16	:	:	PUNCT
cblr-13858	2316	17	recent	recent	ADJ
cblr-13858	2316	18	attempts	attempt	NOUN
cblr-13858	2316	19	to	to	PART
cblr-13858	2316	20	aid	aid	VERB
cblr-13858	2316	21	small	small	ADJ
cblr-13858	2316	22	businesses	business	NOUN
cblr-13858	2316	23	,	,	PUNCT
cblr-13858	2316	24	23	23	NUM
cblr-13858	2316	25	wm	wm	PROPN
cblr-13858	2316	26	.	.	PROPN
cblr-13858	2316	27	&	&	CCONJ
cblr-13858	2316	28	mary	mary	PROPN
cblr-13858	2316	29	l.	l.	PROPN
cblr-13858	2316	30	rev	rev	PROPN
cblr-13858	2316	31	.	.	PROPN
cblr-13858	2316	32	73	73	NUM
cblr-13858	2316	33	,	,	PUNCT
cblr-13858	2316	34	81	81	NUM
cblr-13858	2316	35	(	(	PUNCT
cblr-13858	2316	36	1981	1981	NUM
cblr-13858	2316	37	)	)	PUNCT
cblr-13858	2316	38	(	(	PUNCT
cblr-13858	2316	39	noting	note	VERB
cblr-13858	2316	40	that	that	SCONJ
cblr-13858	2316	41	rule	rule	NOUN
cblr-13858	2316	42	242	242	NUM
cblr-13858	2316	43	,	,	PUNCT
cblr-13858	2316	44	the	the	DET
cblr-13858	2316	45	predecessor	predecessor	NOUN
cblr-13858	2316	46	to	to	ADP
cblr-13858	2316	47	regulation	regulation	NOUN
cblr-13858	2316	48	d	d	PROPN
cblr-13858	2316	49	,	,	PUNCT
cblr-13858	2316	50	attempted	attempt	VERB
cblr-13858	2316	51	to	to	PART
cblr-13858	2316	52	dispense	dispense	VERB
cblr-13858	2316	53	subjective	subjective	ADJ
cblr-13858	2316	54	criteria	criterion	NOUN
cblr-13858	2316	55	of	of	ADP
cblr-13858	2316	56	sophistication	sophistication	NOUN
cblr-13858	2316	57	and	and	CCONJ
cblr-13858	2316	58	access	access	NOUN
cblr-13858	2316	59	to	to	ADP
cblr-13858	2316	60	information	information	NOUN
cblr-13858	2316	61	with	with	ADP
cblr-13858	2316	62	more	more	ADJ
cblr-13858	2316	63	"	"	PUNCT
cblr-13858	2316	64	definitive	definitive	ADJ
cblr-13858	2316	65	and	and	CCONJ
cblr-13858	2316	66	objective	objective	ADJ
cblr-13858	2316	67	standards	standard	NOUN
cblr-13858	2316	68	"	"	PUNCT
cblr-13858	2316	69	)	)	PUNCT
cblr-13858	2316	70	.	.	PUNCT
cblr-13858	2317	1	64	64	NUM
cblr-13858	2317	2	see	see	VERB
cblr-13858	2317	3	friedman	friedman	PROPN
cblr-13858	2317	4	,	,	PUNCT
cblr-13858	2317	5	supra	supra	PROPN
cblr-13858	2317	6	note	note	VERB
cblr-13858	2317	7	565	565	NUM
cblr-13858	2317	8	,	,	PUNCT
cblr-13858	2317	9	at	at	ADP
cblr-13858	2317	10	299	299	NUM
cblr-13858	2317	11	-	-	SYM
cblr-13858	2317	12	300	300	NUM
cblr-13858	2317	13	(	(	PUNCT
cblr-13858	2317	14	suggesting	suggest	VERB
cblr-13858	2317	15	that	that	SCONJ
cblr-13858	2317	16	the	the	DET
cblr-13858	2317	17	basis	basis	NOUN
cblr-13858	2317	18	for	for	ADP
cblr-13858	2317	19	making	make	VERB
cblr-13858	2317	20	wealthy	wealthy	ADJ
cblr-13858	2317	21	but	but	CCONJ
cblr-13858	2317	22	unsophisticated	unsophisticated	ADJ
cblr-13858	2317	23	investors	investor	NOUN
cblr-13858	2317	24	accredited	accredit	VERB
cblr-13858	2317	25	is	be	AUX
cblr-13858	2317	26	"	"	PUNCT
cblr-13858	2317	27	the	the	DET
cblr-13858	2317	28	ground	ground	NOUN
cblr-13858	2317	29	that	that	SCONJ
cblr-13858	2317	30	they	they	PRON
cblr-13858	2317	31	can	can	AUX
cblr-13858	2317	32	afford	afford	VERB
cblr-13858	2317	33	to	to	PART
cblr-13858	2317	34	lose	lose	VERB
cblr-13858	2317	35	money	money	NOUN
cblr-13858	2317	36	"	"	PUNCT
cblr-13858	2317	37	)	)	PUNCT
cblr-13858	2317	38	.	.	PUNCT
cblr-13858	2318	1	edward	edward	PROPN
cblr-13858	2318	2	fletcher	fletcher	PROPN
cblr-13858	2318	3	also	also	ADV
cblr-13858	2318	4	seems	seem	VERB
cblr-13858	2318	5	to	to	PART
cblr-13858	2318	6	believe	believe	VERB
cblr-13858	2318	7	that	that	SCONJ
cblr-13858	2318	8	this	this	DET
cblr-13858	2318	9	basis	basis	NOUN
cblr-13858	2318	10	underlies	underlie	VERB
cblr-13858	2318	11	the	the	DET
cblr-13858	2318	12	accredited	accredited	ADJ
cblr-13858	2318	13	investor	investor	NOUN
cblr-13858	2318	14	categories	category	NOUN
cblr-13858	2318	15	.	.	PUNCT
cblr-13858	2319	1	he	he	PRON
cblr-13858	2319	2	asks	ask	VERB
cblr-13858	2319	3	,	,	PUNCT
cblr-13858	2319	4	"	"	PUNCT
cblr-13858	2319	5	should	should	AUX
cblr-13858	2319	6	the	the	DET
cblr-13858	2319	7	law	law	NOUN
cblr-13858	2319	8	presume	presume	VERB
cblr-13858	2319	9	that	that	SCONJ
cblr-13858	2319	10	wealthy	wealthy	ADJ
cblr-13858	2319	11	investors	investor	NOUN
cblr-13858	2319	12	,	,	PUNCT
cblr-13858	2319	13	who	who	PRON
cblr-13858	2319	14	can	can	AUX
cblr-13858	2319	15	bear	bear	VERB
cblr-13858	2319	16	investment	investment	NOUN
cblr-13858	2319	17	risks	risk	NOUN
cblr-13858	2319	18	,	,	PUNCT
cblr-13858	2319	19	are	be	AUX
cblr-13858	2319	20	sophisticated	sophisticated	ADJ
cblr-13858	2319	21	investors	investor	NOUN
cblr-13858	2319	22	,	,	PUNCT
cblr-13858	2319	23	and	and	CCONJ
cblr-13858	2319	24	treat	treat	VERB
cblr-13858	2319	25	them	they	PRON
cblr-13858	2319	26	as	as	ADP
cblr-13858	2319	27	such	such	ADJ
cblr-13858	2319	28	,	,	PUNCT
cblr-13858	2319	29	no	no	ADV
cblr-13858	2319	30	matter	matter	ADV
cblr-13858	2319	31	how	how	SCONJ
cblr-13858	2319	32	financially	financially	ADV
cblr-13858	2319	33	naive	naive	ADJ
cblr-13858	2319	34	they	they	PRON
cblr-13858	2319	35	may	may	AUX
cblr-13858	2319	36	be	be	AUX
cblr-13858	2319	37	?	?	PUNCT
cblr-13858	2319	38	"	"	PUNCT
cblr-13858	2320	1	fletcher	fletcher	PROPN
cblr-13858	2320	2	,	,	PUNCT
cblr-13858	2320	3	supra	supra	PROPN
cblr-13858	2320	4	note	note	PROPN
cblr-13858	2320	5	639	639	NUM
cblr-13858	2320	6	,	,	PUNCT
cblr-13858	2320	7	at	at	ADP
cblr-13858	2320	8	1123	1123	NUM
cblr-13858	2320	9	(	(	PUNCT
cblr-13858	2320	10	emphasis	emphasis	NOUN
cblr-13858	2320	11	added	add	VERB
cblr-13858	2320	12	)	)	PUNCT
cblr-13858	2320	13	.	.	PUNCT
cblr-13858	2321	1	641	641	NUM
cblr-13858	2321	2	this	this	PRON
cblr-13858	2321	3	has	have	AUX
cblr-13858	2321	4	not	not	PART
cblr-13858	2321	5	always	always	ADV
cblr-13858	2321	6	been	be	AUX
cblr-13858	2321	7	the	the	DET
cblr-13858	2321	8	case	case	NOUN
cblr-13858	2321	9	.	.	PUNCT
cblr-13858	2322	1	when	when	SCONJ
cblr-13858	2322	2	regulation	regulation	NOUN
cblr-13858	2322	3	d	d	NOUN
cblr-13858	2322	4	was	be	AUX
cblr-13858	2322	5	adopted	adopt	VERB
cblr-13858	2322	6	,	,	PUNCT
cblr-13858	2322	7	an	an	DET
cblr-13858	2322	8	investor	investor	NOUN
cblr-13858	2322	9	was	be	AUX
cblr-13858	2322	10	accredited	accredit	VERB
cblr-13858	2322	11	if	if	SCONJ
cblr-13858	2322	12	she	she	PRON
cblr-13858	2322	13	purchased	purchase	VERB
cblr-13858	2322	14	at	at	ADV
cblr-13858	2322	15	least	least	ADV
cblr-13858	2322	16	$	$	SYM
cblr-13858	2322	17	150,000	150,000	NUM
cblr-13858	2322	18	of	of	ADP
cblr-13858	2322	19	the	the	DET
cblr-13858	2322	20	securities	security	NOUN
cblr-13858	2322	21	being	be	AUX
cblr-13858	2322	22	offered	offer	VERB
cblr-13858	2322	23	and	and	CCONJ
cblr-13858	2322	24	if	if	SCONJ
cblr-13858	2322	25	the	the	DET
cblr-13858	2322	26	purchase	purchase	NOUN
cblr-13858	2322	27	price	price	NOUN
cblr-13858	2322	28	did	do	AUX
cblr-13858	2322	29	not	not	PART
cblr-13858	2322	30	exceed	exceed	VERB
cblr-13858	2322	31	20	20	NUM
cblr-13858	2322	32	%	%	NOUN
cblr-13858	2322	33	of	of	ADP
cblr-13858	2322	34	the	the	DET
cblr-13858	2322	35	purchaser	purchaser	NOUN
cblr-13858	2322	36	's	's	PART
cblr-13858	2322	37	net	net	ADJ
cblr-13858	2322	38	worth	worth	NOUN
cblr-13858	2322	39	.	.	PUNCT
cblr-13858	2323	1	see	see	VERB
cblr-13858	2323	2	revision	revision	NOUN
cblr-13858	2323	3	of	of	ADP
cblr-13858	2323	4	certain	certain	ADJ
cblr-13858	2323	5	exemptions	exemption	NOUN
cblr-13858	2323	6	from	from	ADP
cblr-13858	2323	7	registration	registration	NOUN
cblr-13858	2323	8	for	for	ADP
cblr-13858	2323	9	transactions	transaction	NOUN
cblr-13858	2323	10	involving	involve	VERB
cblr-13858	2323	11	limited	limited	ADJ
cblr-13858	2323	12	offers	offer	NOUN
cblr-13858	2323	13	and	and	CCONJ
cblr-13858	2323	14	sales	sale	NOUN
cblr-13858	2323	15	,	,	PUNCT
cblr-13858	2323	16	securities	security	NOUN
cblr-13858	2323	17	act	act	NOUN
cblr-13858	2323	18	release	release	VERB
cblr-13858	2323	19	no	no	PRON
cblr-13858	2323	20	.	.	PUNCT
cblr-13858	2324	1	6389	6389	NUM
cblr-13858	2324	2	(	(	PUNCT
cblr-13858	2324	3	mar	mar	PROPN
cblr-13858	2324	4	.	.	PROPN
cblr-13858	2324	5	8	8	NUM
cblr-13858	2324	6	,	,	PUNCT
cblr-13858	2324	7	1982	1982	NUM
cblr-13858	2324	8	)	)	PUNCT
cblr-13858	2324	9	.	.	PUNCT
cblr-13858	2325	1	see	see	VERB
cblr-13858	2325	2	also	also	ADV
cblr-13858	2325	3	mohney	mohney	ADJ
cblr-13858	2325	4	,	,	PUNCT
cblr-13858	2325	5	supra	supra	PROPN
cblr-13858	2325	6	note	note	PROPN
cblr-13858	2325	7	639	639	NUM
cblr-13858	2325	8	,	,	PUNCT
cblr-13858	2325	9	at	at	ADP
cblr-13858	2325	10	135	135	NUM
cblr-13858	2325	11	;	;	PUNCT
cblr-13858	2325	12	warren	warren	PROPN
cblr-13858	2325	13	,	,	PUNCT
cblr-13858	2325	14	supra	supra	PROPN
cblr-13858	2325	15	note	note	PROPN
cblr-13858	2325	16	637	637	NUM
cblr-13858	2325	17	,	,	PUNCT
cblr-13858	2325	18	at	at	ADP
cblr-13858	2325	19	369	369	NUM
cblr-13858	2325	20	.	.	PUNCT
cblr-13858	2326	1	presumably	presumably	ADV
cblr-13858	2326	2	,	,	PUNCT
cblr-13858	2326	3	this	this	DET
cblr-13858	2326	4	20	20	NUM
cblr-13858	2326	5	%	%	NOUN
cblr-13858	2326	6	floor	floor	NOUN
cblr-13858	2326	7	"	"	PUNCT
cblr-13858	2326	8	assures	assure	VERB
cblr-13858	2326	9	.	.	PUNCT
cblr-13858	2326	10	.	.	PUNCT
cblr-13858	2326	11	.	.	PUNCT
cblr-13858	2327	1	[	[	X
cblr-13858	2327	2	investors	investor	NOUN
cblr-13858	2327	3	]	]	PUNCT
cblr-13858	2327	4	.	.	PUNCT
cblr-13858	2327	5	.	.	PUNCT
cblr-13858	2328	1	.	.	PUNCT
cblr-13858	2328	2	are	be	AUX
cblr-13858	2328	3	able	able	ADJ
cblr-13858	2328	4	to	to	PART
cblr-13858	2328	5	bear	bear	VERB
cblr-13858	2328	6	the	the	DET
cblr-13858	2328	7	risk	risk	NOUN
cblr-13858	2328	8	of	of	ADP
cblr-13858	2328	9	the	the	DET
cblr-13858	2328	10	investment	investment	NOUN
cblr-13858	2328	11	.	.	PUNCT
cblr-13858	2328	12	"	"	PUNCT
cblr-13858	2329	1	mahoney	mahoney	PROPN
cblr-13858	2329	2	,	,	PUNCT
cblr-13858	2329	3	supra	supra	PROPN
cblr-13858	2329	4	note	note	PROPN
cblr-13858	2329	5	639	639	NUM
cblr-13858	2329	6	,	,	PUNCT
cblr-13858	2329	7	at	at	ADP
cblr-13858	2329	8	136	136	NUM
cblr-13858	2329	9	.	.	PUNCT
cblr-13858	2330	1	642	642	NUM
cblr-13858	2330	2	see	see	VERB
cblr-13858	2330	3	warren	warren	PROPN
cblr-13858	2330	4	,	,	PUNCT
cblr-13858	2330	5	supra	supra	PROPN
cblr-13858	2330	6	note	note	PROPN
cblr-13858	2330	7	637	637	NUM
cblr-13858	2330	8	,	,	PUNCT
cblr-13858	2330	9	at	at	ADP
cblr-13858	2330	10	382	382	NUM
cblr-13858	2330	11	.	.	PUNCT
cblr-13858	2331	1	126	126	NUM
cblr-13858	2332	1	[	[	X
cblr-13858	2332	2	vol	vol	NOUN
cblr-13858	2332	3	.	.	PUNCT
cblr-13858	2332	4	2012	2012	NUM
cblr-13858	2332	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2332	6	investments	investment	NOUN
cblr-13858	2332	7	?	?	PUNCT
cblr-13858	2333	1	should	should	AUX
cblr-13858	2333	2	it	it	PRON
cblr-13858	2333	3	be	be	AUX
cblr-13858	2333	4	an	an	DET
cblr-13858	2333	5	annual	annual	ADJ
cblr-13858	2333	6	limit	limit	NOUN
cblr-13858	2333	7	or	or	CCONJ
cblr-13858	2333	8	a	a	DET
cblr-13858	2333	9	cap	cap	NOUN
cblr-13858	2333	10	on	on	ADP
cblr-13858	2333	11	the	the	DET
cblr-13858	2333	12	total	total	ADJ
cblr-13858	2333	13	amount	amount	NOUN
cblr-13858	2333	14	of	of	ADP
cblr-13858	2333	15	all	all	DET
cblr-13858	2333	16	outstanding	outstanding	ADJ
cblr-13858	2333	17	crowdfunding	crowdfunding	NOUN
cblr-13858	2333	18	investments	investment	NOUN
cblr-13858	2333	19	?	?	PUNCT
cblr-13858	2334	1	should	should	AUX
cblr-13858	2334	2	the	the	DET
cblr-13858	2334	3	limit	limit	NOUN
cblr-13858	2334	4	be	be	AUX
cblr-13858	2334	5	a	a	DET
cblr-13858	2334	6	uniform	uniform	ADJ
cblr-13858	2334	7	dollar	dollar	NOUN
cblr-13858	2334	8	amount	amount	NOUN
cblr-13858	2334	9	or	or	CCONJ
cblr-13858	2334	10	a	a	DET
cblr-13858	2334	11	percentage	percentage	NOUN
cblr-13858	2334	12	of	of	ADP
cblr-13858	2334	13	each	each	DET
cblr-13858	2334	14	person	person	NOUN
cblr-13858	2334	15	's	's	PART
cblr-13858	2334	16	wealth	wealth	NOUN
cblr-13858	2334	17	or	or	CCONJ
cblr-13858	2334	18	income	income	NOUN
cblr-13858	2334	19	?	?	PUNCT
cblr-13858	2335	1	most	most	ADV
cblr-13858	2335	2	importantly	importantly	ADV
cblr-13858	2335	3	,	,	PUNCT
cblr-13858	2335	4	what	what	PRON
cblr-13858	2335	5	should	should	AUX
cblr-13858	2335	6	the	the	DET
cblr-13858	2335	7	limit	limit	NOUN
cblr-13858	2335	8	be	be	AUX
cblr-13858	2335	9	?	?	PUNCT
cblr-13858	2336	1	the	the	DET
cblr-13858	2336	2	proposals	proposal	NOUN
cblr-13858	2336	3	range	range	VERB
cblr-13858	2336	4	from	from	ADP
cblr-13858	2336	5	$	$	SYM
cblr-13858	2336	6	100	100	NUM
cblr-13858	2336	7	to	to	PART
cblr-13858	2336	8	$	$	SYM
cblr-13858	2336	9	10,000	10,000	NUM
cblr-13858	2336	10	per	per	ADP
cblr-13858	2336	11	person	person	NOUN
cblr-13858	2336	12	,	,	PUNCT
cblr-13858	2336	13	and	and	CCONJ
cblr-13858	2336	14	some	some	PRON
cblr-13858	2336	15	of	of	ADP
cblr-13858	2336	16	the	the	DET
cblr-13858	2336	17	proposals	proposal	NOUN
cblr-13858	2336	18	add	add	VERB
cblr-13858	2336	19	an	an	DET
cblr-13858	2336	20	alternative	alternative	ADJ
cblr-13858	2336	21	cap	cap	NOUN
cblr-13858	2336	22	based	base	VERB
cblr-13858	2336	23	on	on	ADP
cblr-13858	2336	24	the	the	DET
cblr-13858	2336	25	investor	investor	NOUN
cblr-13858	2336	26	's	's	PART
cblr-13858	2336	27	income.64	income.64	NOUN
cblr-13858	2336	28	3	3	NUM
cblr-13858	2336	29	this	this	DET
cblr-13858	2336	30	article	article	NOUN
cblr-13858	2336	31	proposes	propose	VERB
cblr-13858	2336	32	to	to	PART
cblr-13858	2336	33	limit	limit	VERB
cblr-13858	2336	34	each	each	DET
cblr-13858	2336	35	investor	investor	NOUN
cblr-13858	2336	36	's	's	PART
cblr-13858	2336	37	annual	annual	ADJ
cblr-13858	2336	38	crowdfunding	crowdfunding	NOUN
cblr-13858	2336	39	investments	investment	NOUN
cblr-13858	2336	40	to	to	ADP
cblr-13858	2336	41	the	the	DET
cblr-13858	2336	42	greater	great	ADJ
cblr-13858	2336	43	of	of	ADP
cblr-13858	2336	44	$	$	SYM
cblr-13858	2336	45	500	500	NUM
cblr-13858	2336	46	or	or	CCONJ
cblr-13858	2336	47	2	2	NUM
cblr-13858	2336	48	%	%	NOUN
cblr-13858	2336	49	of	of	ADP
cblr-13858	2336	50	the	the	DET
cblr-13858	2336	51	investor	investor	NOUN
cblr-13858	2336	52	's	's	PART
cblr-13858	2336	53	annual	annual	ADJ
cblr-13858	2336	54	income	income	NOUN
cblr-13858	2336	55	.	.	PUNCT
cblr-13858	2337	1	consider	consider	VERB
cblr-13858	2337	2	first	first	ADV
cblr-13858	2337	3	whether	whether	SCONJ
cblr-13858	2337	4	the	the	DET
cblr-13858	2337	5	investment	investment	NOUN
cblr-13858	2337	6	limit	limit	NOUN
cblr-13858	2337	7	should	should	AUX
cblr-13858	2337	8	be	be	AUX
cblr-13858	2337	9	the	the	DET
cblr-13858	2337	10	same	same	ADJ
cblr-13858	2337	11	for	for	ADP
cblr-13858	2337	12	all	all	DET
cblr-13858	2337	13	investors	investor	NOUN
cblr-13858	2337	14	or	or	CCONJ
cblr-13858	2337	15	should	should	AUX
cblr-13858	2337	16	vary	vary	VERB
cblr-13858	2337	17	depending	depend	VERB
cblr-13858	2337	18	on	on	ADP
cblr-13858	2337	19	the	the	DET
cblr-13858	2337	20	investor	investor	NOUN
cblr-13858	2337	21	's	's	PART
cblr-13858	2337	22	financial	financial	ADJ
cblr-13858	2337	23	circumstances	circumstance	NOUN
cblr-13858	2337	24	.	.	PUNCT
cblr-13858	2338	1	a	a	DET
cblr-13858	2338	2	fixed	fix	VERB
cblr-13858	2338	3	limit	limit	NOUN
cblr-13858	2338	4	of	of	ADP
cblr-13858	2338	5	,	,	PUNCT
cblr-13858	2338	6	for	for	ADP
cblr-13858	2338	7	example	example	NOUN
cblr-13858	2338	8	,	,	PUNCT
cblr-13858	2338	9	$	$	SYM
cblr-13858	2338	10	500	500	NUM
cblr-13858	2338	11	per	per	ADP
cblr-13858	2338	12	person	person	NOUN
cblr-13858	2338	13	would	would	AUX
cblr-13858	2338	14	be	be	AUX
cblr-13858	2338	15	simple	simple	ADJ
cblr-13858	2338	16	and	and	CCONJ
cblr-13858	2338	17	easy	easy	ADJ
cblr-13858	2338	18	to	to	PART
cblr-13858	2338	19	apply	apply	VERB
cblr-13858	2338	20	.	.	PUNCT
cblr-13858	2339	1	but	but	CCONJ
cblr-13858	2339	2	a	a	DET
cblr-13858	2339	3	uniform	uniform	ADJ
cblr-13858	2339	4	limit	limit	NOUN
cblr-13858	2339	5	,	,	PUNCT
cblr-13858	2339	6	unless	unless	SCONJ
cblr-13858	2339	7	it	it	PRON
cblr-13858	2339	8	is	be	AUX
cblr-13858	2339	9	very	very	ADV
cblr-13858	2339	10	small	small	ADJ
cblr-13858	2339	11	,	,	PUNCT
cblr-13858	2339	12	does	do	AUX
cblr-13858	2339	13	not	not	PART
cblr-13858	2339	14	necessarily	necessarily	ADV
cblr-13858	2339	15	limit	limit	VERB
cblr-13858	2339	16	all	all	DET
cblr-13858	2339	17	investors	investor	NOUN
cblr-13858	2339	18	to	to	ADP
cblr-13858	2339	19	an	an	DET
cblr-13858	2339	20	amount	amount	NOUN
cblr-13858	2339	21	they	they	PRON
cblr-13858	2339	22	can	can	AUX
cblr-13858	2339	23	afford	afford	VERB
cblr-13858	2339	24	to	to	PART
cblr-13858	2339	25	lose	lose	VERB
cblr-13858	2339	26	.	.	PUNCT
cblr-13858	2340	1	many	many	ADJ
cblr-13858	2340	2	investors	investor	NOUN
cblr-13858	2340	3	have	have	VERB
cblr-13858	2340	4	very	very	ADV
cblr-13858	2340	5	little	little	ADJ
cblr-13858	2340	6	savings	saving	NOUN
cblr-13858	2340	7	or	or	CCONJ
cblr-13858	2340	8	uncommitted	uncommitted	ADJ
cblr-13858	2340	9	income	income	NOUN
cblr-13858	2340	10	.	.	PUNCT
cblr-13858	2341	1	6	6	NUM
cblr-13858	2341	2	"	"	PUNCT
cblr-13858	2341	3	a	a	DET
cblr-13858	2341	4	loss	loss	NOUN
cblr-13858	2341	5	of	of	ADP
cblr-13858	2341	6	even	even	ADV
cblr-13858	2341	7	$	$	SYM
cblr-13858	2341	8	500	500	NUM
cblr-13858	2341	9	could	could	AUX
cblr-13858	2341	10	be	be	AUX
cblr-13858	2341	11	catastrophic	catastrophic	ADJ
cblr-13858	2341	12	to	to	ADP
cblr-13858	2341	13	those	those	DET
cblr-13858	2341	14	investors	investor	NOUN
cblr-13858	2341	15	.	.	PUNCT
cblr-13858	2342	1	a	a	DET
cblr-13858	2342	2	limit	limit	NOUN
cblr-13858	2342	3	tailored	tailor	VERB
cblr-13858	2342	4	to	to	ADP
cblr-13858	2342	5	the	the	DET
cblr-13858	2342	6	particular	particular	ADJ
cblr-13858	2342	7	investor	investor	NOUN
cblr-13858	2342	8	's	's	PART
cblr-13858	2342	9	wealth	wealth	NOUN
cblr-13858	2342	10	or	or	CCONJ
cblr-13858	2342	11	income	income	NOUN
cblr-13858	2342	12	would	would	AUX
cblr-13858	2342	13	better	well	ADV
cblr-13858	2342	14	fit	fit	VERB
cblr-13858	2342	15	the	the	DET
cblr-13858	2342	16	policy	policy	NOUN
cblr-13858	2342	17	rationale	rationale	NOUN
cblr-13858	2342	18	.	.	PUNCT
cblr-13858	2343	1	for	for	ADP
cblr-13858	2343	2	example	example	NOUN
cblr-13858	2343	3	,	,	PUNCT
cblr-13858	2343	4	an	an	DET
cblr-13858	2343	5	individual	individual	ADJ
cblr-13858	2343	6	investor	investor	NOUN
cblr-13858	2343	7	might	might	AUX
cblr-13858	2343	8	be	be	AUX
cblr-13858	2343	9	limited	limit	VERB
cblr-13858	2343	10	to	to	ADP
cblr-13858	2343	11	investing	invest	VERB
cblr-13858	2343	12	no	no	DET
cblr-13858	2343	13	more	more	ADJ
cblr-13858	2343	14	than	than	ADP
cblr-13858	2343	15	5	5	NUM
cblr-13858	2343	16	%	%	NOUN
cblr-13858	2343	17	of	of	ADP
cblr-13858	2343	18	her	her	PRON
cblr-13858	2343	19	net	net	ADJ
cblr-13858	2343	20	worth	worth	NOUN
cblr-13858	2343	21	or	or	CCONJ
cblr-13858	2343	22	annual	annual	ADJ
cblr-13858	2343	23	income	income	NOUN
cblr-13858	2343	24	.	.	PUNCT
cblr-13858	2344	1	but	but	CCONJ
cblr-13858	2344	2	this	this	DET
cblr-13858	2344	3	type	type	NOUN
cblr-13858	2344	4	of	of	ADP
cblr-13858	2344	5	limit	limit	NOUN
cblr-13858	2344	6	would	would	AUX
cblr-13858	2344	7	make	make	VERB
cblr-13858	2344	8	the	the	DET
cblr-13858	2344	9	exemption	exemption	NOUN
cblr-13858	2344	10	more	more	ADV
cblr-13858	2344	11	costly	costly	ADJ
cblr-13858	2344	12	and	and	CCONJ
cblr-13858	2344	13	more	more	ADV
cblr-13858	2344	14	difficult	difficult	ADJ
cblr-13858	2344	15	to	to	PART
cblr-13858	2344	16	administer	administer	VERB
cblr-13858	2344	17	.	.	PUNCT
cblr-13858	2345	1	either	either	CCONJ
cblr-13858	2345	2	the	the	DET
cblr-13858	2345	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2345	4	site	site	NOUN
cblr-13858	2345	5	or	or	CCONJ
cblr-13858	2345	6	the	the	DET
cblr-13858	2345	7	issuer	issuer	NOUN
cblr-13858	2345	8	would	would	AUX
cblr-13858	2345	9	have	have	VERB
cblr-13858	2345	10	to	to	PART
cblr-13858	2345	11	determine	determine	VERB
cblr-13858	2345	12	the	the	DET
cblr-13858	2345	13	investor	investor	NOUN
cblr-13858	2345	14	's	's	PART
cblr-13858	2345	15	income	income	NOUN
cblr-13858	2345	16	or	or	CCONJ
cblr-13858	2345	17	net	net	ADJ
cblr-13858	2345	18	see	see	VERB
cblr-13858	2345	19	supra	supra	PROPN
cblr-13858	2345	20	part	part	NOUN
cblr-13858	2345	21	v.	v.	ADP
cblr-13858	2345	22	"	"	PUNCT
cblr-13858	2345	23	"	"	PUNCT
cblr-13858	2345	24	a	a	DET
cblr-13858	2345	25	2010	2010	NUM
cblr-13858	2345	26	survey	survey	NOUN
cblr-13858	2345	27	found	find	VERB
cblr-13858	2345	28	that	that	SCONJ
cblr-13858	2345	29	30	30	NUM
cblr-13858	2345	30	%	%	NOUN
cblr-13858	2345	31	of	of	ADP
cblr-13858	2345	32	all	all	DET
cblr-13858	2345	33	adults	adult	NOUN
cblr-13858	2345	34	had	have	VERB
cblr-13858	2345	35	no	no	DET
cblr-13858	2345	36	savings	saving	NOUN
cblr-13858	2345	37	(	(	PUNCT
cblr-13858	2345	38	excluding	exclude	VERB
cblr-13858	2345	39	retirement	retirement	NOUN
cblr-13858	2345	40	savings	saving	NOUN
cblr-13858	2345	41	)	)	PUNCT
cblr-13858	2345	42	.	.	PUNCT
cblr-13858	2346	1	nat'l	nat'l	NOUN
cblr-13858	2346	2	found	find	VERB
cblr-13858	2346	3	.	.	PUNCT
cblr-13858	2347	1	for	for	ADP
cblr-13858	2347	2	credit	credit	NOUN
cblr-13858	2347	3	counseling	counseling	NOUN
cblr-13858	2347	4	,	,	PUNCT
cblr-13858	2347	5	supra	supra	PROPN
cblr-13858	2347	6	note	note	PROPN
cblr-13858	2347	7	572	572	NUM
cblr-13858	2347	8	,	,	PUNCT
cblr-13858	2347	9	at	at	ADP
cblr-13858	2347	10	5	5	NUM
cblr-13858	2347	11	.	.	PUNCT
cblr-13858	2348	1	see	see	AUX
cblr-13858	2348	2	also	also	ADV
cblr-13858	2348	3	hilgert	hilgert	VERB
cblr-13858	2348	4	et	et	PROPN
cblr-13858	2348	5	al	al	PROPN
cblr-13858	2348	6	.	.	PROPN
cblr-13858	2348	7	,	,	PUNCT
cblr-13858	2348	8	supra	supra	PROPN
cblr-13858	2348	9	note	note	PROPN
cblr-13858	2348	10	572	572	NUM
cblr-13858	2348	11	,	,	PUNCT
cblr-13858	2348	12	at	at	ADP
cblr-13858	2348	13	310	310	NUM
cblr-13858	2348	14	(	(	PUNCT
cblr-13858	2348	15	earlier	early	ADJ
cblr-13858	2348	16	survey	survey	NOUN
cblr-13858	2348	17	finding	find	VERB
cblr-13858	2348	18	that	that	SCONJ
cblr-13858	2348	19	only	only	ADV
cblr-13858	2348	20	80	80	NUM
cblr-13858	2348	21	%	%	NOUN
cblr-13858	2348	22	of	of	ADP
cblr-13858	2348	23	the	the	DET
cblr-13858	2348	24	respondents	respondent	NOUN
cblr-13858	2348	25	had	have	VERB
cblr-13858	2348	26	a	a	DET
cblr-13858	2348	27	savings	saving	NOUN
cblr-13858	2348	28	account	account	NOUN
cblr-13858	2348	29	)	)	PUNCT
cblr-13858	2348	30	.	.	PUNCT
cblr-13858	2349	1	another	another	DET
cblr-13858	2349	2	survey	survey	NOUN
cblr-13858	2349	3	found	find	VERB
cblr-13858	2349	4	that	that	SCONJ
cblr-13858	2349	5	fewer	few	ADJ
cblr-13858	2349	6	than	than	ADP
cblr-13858	2349	7	half	half	NOUN
cblr-13858	2349	8	of	of	ADP
cblr-13858	2349	9	american	american	ADJ
cblr-13858	2349	10	adults	adult	NOUN
cblr-13858	2349	11	had	have	VERB
cblr-13858	2349	12	an	an	DET
cblr-13858	2349	13	emergency	emergency	NOUN
cblr-13858	2349	14	fund	fund	NOUN
cblr-13858	2349	15	that	that	PRON
cblr-13858	2349	16	would	would	AUX
cblr-13858	2349	17	cover	cover	VERB
cblr-13858	2349	18	expenses	expense	NOUN
cblr-13858	2349	19	for	for	ADP
cblr-13858	2349	20	three	three	NUM
cblr-13858	2349	21	months	month	NOUN
cblr-13858	2349	22	.	.	PUNCT
cblr-13858	2350	1	applied	apply	VERB
cblr-13858	2350	2	research	research	NOUN
cblr-13858	2350	3	&	&	CCONJ
cblr-13858	2350	4	consulting	consulting	PROPN
cblr-13858	2350	5	llc	llc	PROPN
cblr-13858	2350	6	,	,	PUNCT
cblr-13858	2350	7	supra	supra	PROPN
cblr-13858	2350	8	note	note	PROPN
cblr-13858	2350	9	572	572	NUM
cblr-13858	2350	10	,	,	PUNCT
cblr-13858	2350	11	at	at	ADP
cblr-13858	2350	12	16	16	NUM
cblr-13858	2350	13	.	.	PUNCT
cblr-13858	2351	1	forty	forty	NUM
cblr-13858	2351	2	-	-	PUNCT
cblr-13858	2351	3	nine	nine	NUM
cblr-13858	2351	4	percent	percent	NOUN
cblr-13858	2351	5	of	of	ADP
cblr-13858	2351	6	those	those	DET
cblr-13858	2351	7	respondents	respondent	NOUN
cblr-13858	2351	8	found	find	VERB
cblr-13858	2351	9	it	it	PRON
cblr-13858	2351	10	difficult	difficult	ADJ
cblr-13858	2351	11	merely	merely	ADV
cblr-13858	2351	12	to	to	PART
cblr-13858	2351	13	pay	pay	VERB
cblr-13858	2351	14	all	all	PRON
cblr-13858	2351	15	of	of	ADP
cblr-13858	2351	16	their	their	PRON
cblr-13858	2351	17	bills	bill	NOUN
cblr-13858	2351	18	each	each	DET
cblr-13858	2351	19	month	month	NOUN
cblr-13858	2351	20	.	.	PUNCT
cblr-13858	2352	1	i	i	PRON
cblr-13858	2352	2	d.	d.	PROPN
cblr-13858	2352	3	at	at	ADP
cblr-13858	2352	4	15	15	NUM
cblr-13858	2352	5	.	.	PUNCT
cblr-13858	2353	1	but	but	CCONJ
cblr-13858	2353	2	see	see	VERB
cblr-13858	2353	3	hilgert	hilgert	PROPN
cblr-13858	2353	4	et	et	PROPN
cblr-13858	2353	5	al	al	PROPN
cblr-13858	2353	6	.	.	PROPN
cblr-13858	2353	7	,	,	PUNCT
cblr-13858	2353	8	supra	supra	PROPN
cblr-13858	2353	9	note	note	PROPN
cblr-13858	2353	10	572	572	NUM
cblr-13858	2353	11	,	,	PUNCT
cblr-13858	2353	12	at	at	ADP
cblr-13858	2353	13	310	310	NUM
cblr-13858	2353	14	(	(	PUNCT
cblr-13858	2353	15	finding	find	VERB
cblr-13858	2353	16	that	that	SCONJ
cblr-13858	2353	17	63	63	NUM
cblr-13858	2353	18	%	%	NOUN
cblr-13858	2353	19	of	of	ADP
cblr-13858	2353	20	the	the	DET
cblr-13858	2353	21	respondents	respondent	NOUN
cblr-13858	2353	22	had	have	VERB
cblr-13858	2353	23	some	some	DET
cblr-13858	2353	24	emergency	emergency	NOUN
cblr-13858	2353	25	fund	fund	NOUN
cblr-13858	2353	26	and	and	CCONJ
cblr-13858	2353	27	that	that	SCONJ
cblr-13858	2353	28	49	49	NUM
cblr-13858	2353	29	%	%	NOUN
cblr-13858	2353	30	of	of	ADP
cblr-13858	2353	31	the	the	DET
cblr-13858	2353	32	respondents	respondent	NOUN
cblr-13858	2353	33	set	set	VERB
cblr-13858	2353	34	aside	aside	ADP
cblr-13858	2353	35	money	money	NOUN
cblr-13858	2353	36	out	out	ADP
cblr-13858	2353	37	of	of	ADP
cblr-13858	2353	38	each	each	DET
cblr-13858	2353	39	paycheck	paycheck	NOUN
cblr-13858	2353	40	)	)	PUNCT
cblr-13858	2353	41	.	.	PUNCT
cblr-13858	2354	1	127cro	127cro	NUM
cblr-13858	2354	2	wdfundinvg	wdfundinvg	NOUN
cblr-13858	2354	3	and	and	CCONJ
cblr-13858	2354	4	securities	security	NOUN
cblr-13858	2354	5	la	la	PRON
cblr-13858	2354	6	wsno	wsno	ADJ
cblr-13858	2354	7	.	.	PUNCT
cblr-13858	2355	1	i	i	PRON
cblr-13858	2355	2	:	:	PUNCT
cblr-13858	2355	3	1	1	X
cblr-13858	2355	4	]	]	PUNCT
cblr-13858	2355	5	worth	worth	ADJ
cblr-13858	2355	6	before	before	ADP
cblr-13858	2355	7	allowing	allow	VERB
cblr-13858	2355	8	the	the	DET
cblr-13858	2355	9	investor	investor	NOUN
cblr-13858	2355	10	to	to	PART
cblr-13858	2355	11	invest	invest	VERB
cblr-13858	2355	12	.	.	PUNCT
cblr-13858	2355	13	"	"	PUNCT
cblr-13858	2355	14	'	'	PUNCT
cblr-13858	2355	15	because	because	SCONJ
cblr-13858	2355	16	crowdfunding	crowdfunding	NOUN
cblr-13858	2355	17	depends	depend	VERB
cblr-13858	2355	18	on	on	ADP
cblr-13858	2355	19	small	small	ADJ
cblr-13858	2355	20	contributions	contribution	NOUN
cblr-13858	2355	21	from	from	ADP
cblr-13858	2355	22	a	a	DET
cblr-13858	2355	23	large	large	ADJ
cblr-13858	2355	24	number	number	NOUN
cblr-13858	2355	25	of	of	ADP
cblr-13858	2355	26	investors	investor	NOUN
cblr-13858	2355	27	,	,	PUNCT
cblr-13858	2355	28	the	the	DET
cblr-13858	2355	29	number	number	NOUN
cblr-13858	2355	30	of	of	ADP
cblr-13858	2355	31	such	such	ADJ
cblr-13858	2355	32	income	income	NOUN
cblr-13858	2355	33	and	and	CCONJ
cblr-13858	2355	34	wealth	wealth	NOUN
cblr-13858	2355	35	determinations	determination	NOUN
cblr-13858	2355	36	could	could	AUX
cblr-13858	2355	37	be	be	AUX
cblr-13858	2355	38	prohibitively	prohibitively	ADV
cblr-13858	2355	39	expensive	expensive	ADJ
cblr-13858	2355	40	.	.	PUNCT
cblr-13858	2356	1	there	there	PRON
cblr-13858	2356	2	are	be	VERB
cblr-13858	2356	3	two	two	NUM
cblr-13858	2356	4	ways	way	NOUN
cblr-13858	2356	5	to	to	PART
cblr-13858	2356	6	incorporate	incorporate	VERB
cblr-13858	2356	7	an	an	DET
cblr-13858	2356	8	incomeor	incomeor	NOUN
cblr-13858	2356	9	wealthbased	wealthbase	VERB
cblr-13858	2356	10	limit	limit	NOUN
cblr-13858	2356	11	without	without	ADP
cblr-13858	2356	12	unduly	unduly	ADV
cblr-13858	2356	13	increasing	increase	VERB
cblr-13858	2356	14	administrative	administrative	ADJ
cblr-13858	2356	15	costs	cost	NOUN
cblr-13858	2356	16	.	.	PUNCT
cblr-13858	2357	1	one	one	NUM
cblr-13858	2357	2	option	option	NOUN
cblr-13858	2357	3	,	,	PUNCT
cblr-13858	2357	4	adopted	adopt	VERB
cblr-13858	2357	5	by	by	ADP
cblr-13858	2357	6	house	house	NOUN
cblr-13858	2357	7	bill	bill	PROPN
cblr-13858	2357	8	2930	2930	NUM
cblr-13858	2357	9	,	,	PUNCT
cblr-13858	2357	10	is	be	AUX
cblr-13858	2357	11	to	to	PART
cblr-13858	2357	12	allow	allow	VERB
cblr-13858	2357	13	the	the	DET
cblr-13858	2357	14	issuer	issuer	NOUN
cblr-13858	2357	15	(	(	PUNCT
cblr-13858	2357	16	and	and	CCONJ
cblr-13858	2357	17	,	,	PUNCT
cblr-13858	2357	18	presumably	presumably	ADV
cblr-13858	2357	19	,	,	PUNCT
cblr-13858	2357	20	the	the	DET
cblr-13858	2357	21	crowdfunding	crowdfunding	NOUN
cblr-13858	2357	22	site	site	NOUN
cblr-13858	2357	23	as	as	ADV
cblr-13858	2357	24	well	well	ADV
cblr-13858	2357	25	)	)	PUNCT
cblr-13858	2357	26	to	to	PART
cblr-13858	2357	27	rely	rely	VERB
cblr-13858	2357	28	on	on	ADP
cblr-13858	2357	29	the	the	DET
cblr-13858	2357	30	investor	investor	NOUN
cblr-13858	2357	31	's	's	PART
cblr-13858	2357	32	self	self	NOUN
cblr-13858	2357	33	-	-	PUNCT
cblr-13858	2357	34	certification	certification	NOUN
cblr-13858	2357	35	of	of	ADP
cblr-13858	2357	36	income	income	NOUN
cblr-13858	2357	37	.	.	PUNCT
cblr-13858	2358	1	6	6	NUM
cblr-13858	2358	2	the	the	DET
cblr-13858	2358	3	site	site	NOUN
cblr-13858	2358	4	or	or	CCONJ
cblr-13858	2358	5	the	the	DET
cblr-13858	2358	6	issuer	issuer	NOUN
cblr-13858	2358	7	would	would	AUX
cblr-13858	2358	8	still	still	ADV
cblr-13858	2358	9	have	have	VERB
cblr-13858	2358	10	to	to	PART
cblr-13858	2358	11	collect	collect	VERB
cblr-13858	2358	12	and	and	CCONJ
cblr-13858	2358	13	track	track	VERB
cblr-13858	2358	14	income	income	NOUN
cblr-13858	2358	15	figures	figure	NOUN
cblr-13858	2358	16	for	for	ADP
cblr-13858	2358	17	each	each	DET
cblr-13858	2358	18	investor	investor	NOUN
cblr-13858	2358	19	,	,	PUNCT
cblr-13858	2358	20	but	but	CCONJ
cblr-13858	2358	21	no	no	DET
cblr-13858	2358	22	verification	verification	NOUN
cblr-13858	2358	23	would	would	AUX
cblr-13858	2358	24	be	be	AUX
cblr-13858	2358	25	required	require	VERB
cblr-13858	2358	26	.	.	PUNCT
cblr-13858	2359	1	once	once	SCONJ
cblr-13858	2359	2	the	the	DET
cblr-13858	2359	3	investor	investor	NOUN
cblr-13858	2359	4	stated	state	VERB
cblr-13858	2359	5	an	an	DET
cblr-13858	2359	6	income	income	NOUN
cblr-13858	2359	7	,	,	PUNCT
cblr-13858	2359	8	the	the	DET
cblr-13858	2359	9	site	site	NOUN
cblr-13858	2359	10	's	's	PART
cblr-13858	2359	11	work	work	NOUN
cblr-13858	2359	12	would	would	AUX
cblr-13858	2359	13	be	be	AUX
cblr-13858	2359	14	complete	complete	ADJ
cblr-13858	2359	15	.	.	PUNCT
cblr-13858	2360	1	however	however	ADV
cblr-13858	2360	2	,	,	PUNCT
cblr-13858	2360	3	a	a	DET
cblr-13858	2360	4	self	self	NOUN
cblr-13858	2360	5	-	-	PUNCT
cblr-13858	2360	6	certified	certify	VERB
cblr-13858	2360	7	income	income	NOUN
cblr-13858	2360	8	standard	standard	NOUN
cblr-13858	2360	9	is	be	AUX
cblr-13858	2360	10	essentially	essentially	ADV
cblr-13858	2360	11	the	the	DET
cblr-13858	2360	12	same	same	ADJ
cblr-13858	2360	13	as	as	ADP
cblr-13858	2360	14	no	no	DET
cblr-13858	2360	15	standard	standard	NOUN
cblr-13858	2360	16	at	at	ADV
cblr-13858	2360	17	all	all	ADV
cblr-13858	2360	18	.	.	PUNCT
cblr-13858	2361	1	investors	investor	NOUN
cblr-13858	2361	2	who	who	PRON
cblr-13858	2361	3	want	want	VERB
cblr-13858	2361	4	to	to	PART
cblr-13858	2361	5	invest	invest	VERB
cblr-13858	2361	6	more	more	ADJ
cblr-13858	2361	7	would	would	AUX
cblr-13858	2361	8	quickly	quickly	ADV
cblr-13858	2361	9	learn	learn	VERB
cblr-13858	2361	10	to	to	PART
cblr-13858	2361	11	exaggerate	exaggerate	VERB
cblr-13858	2361	12	their	their	PRON
cblr-13858	2361	13	income	income	NOUN
cblr-13858	2361	14	.	.	PUNCT
cblr-13858	2362	1	the	the	DET
cblr-13858	2362	2	second	second	ADJ
cblr-13858	2362	3	,	,	PUNCT
cblr-13858	2362	4	preferable	preferable	ADJ
cblr-13858	2362	5	option	option	NOUN
cblr-13858	2362	6	is	be	AUX
cblr-13858	2362	7	to	to	PART
cblr-13858	2362	8	state	state	VERB
cblr-13858	2362	9	the	the	DET
cblr-13858	2362	10	limit	limit	NOUN
cblr-13858	2362	11	per	per	ADP
cblr-13858	2362	12	investor	investor	NOUN
cblr-13858	2362	13	in	in	ADP
cblr-13858	2362	14	the	the	DET
cblr-13858	2362	15	alternative	alternative	NOUN
cblr-13858	2362	16	-	-	PUNCT
cblr-13858	2362	17	as	as	ADP
cblr-13858	2362	18	the	the	DET
cblr-13858	2362	19	greater	great	ADJ
cblr-13858	2362	20	of	of	ADP
cblr-13858	2362	21	a	a	DET
cblr-13858	2362	22	specified	specify	VERB
cblr-13858	2362	23	dollar	dollar	NOUN
cblr-13858	2362	24	amount	amount	NOUN
cblr-13858	2362	25	or	or	CCONJ
cblr-13858	2362	26	a	a	DET
cblr-13858	2362	27	percentage	percentage	NOUN
cblr-13858	2362	28	of	of	ADP
cblr-13858	2362	29	the	the	DET
cblr-13858	2362	30	person	person	NOUN
cblr-13858	2362	31	's	's	PART
cblr-13858	2362	32	income	income	NOUN
cblr-13858	2362	33	.	.	PUNCT
cblr-13858	2363	1	senate	senate	PROPN
cblr-13858	2363	2	bill	bill	PROPN
cblr-13858	2363	3	.1970	.1970	PROPN
cblr-13858	2363	4	takes	take	VERB
cblr-13858	2363	5	this	this	DET
cblr-13858	2363	6	approach	approach	NOUN
cblr-13858	2363	7	.	.	PUNCT
cblr-13858	2364	1	under	under	ADP
cblr-13858	2364	2	such	such	DET
cblr-13858	2364	3	a	a	DET
cblr-13858	2364	4	standard	standard	NOUN
cblr-13858	2364	5	,	,	PUNCT
cblr-13858	2364	6	crowdfunding	crowdfunding	NOUN
cblr-13858	2364	7	sites	site	NOUN
cblr-13858	2364	8	would	would	AUX
cblr-13858	2364	9	not	not	PART
cblr-13858	2364	10	be	be	AUX
cblr-13858	2364	11	required	require	VERB
cblr-13858	2364	12	to	to	PART
cblr-13858	2364	13	check	check	VERB
cblr-13858	2364	14	or	or	CCONJ
cblr-13858	2364	15	verify	verify	VERB
cblr-13858	2364	16	anyone	anyone	PRON
cblr-13858	2364	17	's	's	PART
cblr-13858	2364	18	income	income	NOUN
cblr-13858	2364	19	.	.	PUNCT
cblr-13858	2365	1	since	since	SCONJ
cblr-13858	2365	2	the	the	DET
cblr-13858	2365	3	limit	limit	NOUN
cblr-13858	2365	4	is	be	AUX
cblr-13858	2365	5	the	the	DET
cblr-13858	2365	6	greater	great	ADJ
cblr-13858	2365	7	of	of	ADP
cblr-13858	2365	8	the	the	DET
cblr-13858	2365	9	two	two	NUM
cblr-13858	2365	10	,	,	PUNCT
cblr-13858	2365	11	sites	site	NOUN
cblr-13858	2365	12	could	could	AUX
cblr-13858	2365	13	simply	simply	ADV
cblr-13858	2365	14	limit	limit	VERB
cblr-13858	2365	15	investments	investment	NOUN
cblr-13858	2365	16	to	to	ADP
cblr-13858	2365	17	the	the	DET
cblr-13858	2365	18	specified	specified	ADJ
cblr-13858	2365	19	1	1	NUM
cblr-13858	2365	20	both	both	CCONJ
cblr-13858	2365	21	the	the	DET
cblr-13858	2365	22	small	small	ADJ
cblr-13858	2365	23	business	business	NOUN
cblr-13858	2365	24	&	&	CCONJ
cblr-13858	2365	25	entrepreneurship	entrepreneurship	PROPN
cblr-13858	2365	26	council	council	NOUN
cblr-13858	2365	27	petition	petition	NOUN
cblr-13858	2365	28	and	and	CCONJ
cblr-13858	2365	29	the	the	DET
cblr-13858	2365	30	white	white	PROPN
cblr-13858	2365	31	house	house	PROPN
cblr-13858	2365	32	proposal	proposal	NOUN
cblr-13858	2365	33	provide	provide	VERB
cblr-13858	2365	34	alternative	alternative	ADJ
cblr-13858	2365	35	individual	individual	ADJ
cblr-13858	2365	36	investor	investor	NOUN
cblr-13858	2365	37	limits	limit	NOUN
cblr-13858	2365	38	:	:	PUNCT
cblr-13858	2365	39	either	either	CCONJ
cblr-13858	2365	40	$	$	SYM
cblr-13858	2365	41	10,000	10,000	NUM
cblr-13858	2365	42	or	or	CCONJ
cblr-13858	2365	43	10	10	NUM
cblr-13858	2365	44	%	%	NOUN
cblr-13858	2365	45	of	of	ADP
cblr-13858	2365	46	the	the	DET
cblr-13858	2365	47	investor	investor	NOUN
cblr-13858	2365	48	's	's	PART
cblr-13858	2365	49	income	income	NOUN
cblr-13858	2365	50	.	.	PUNCT
cblr-13858	2366	1	see	see	VERB
cblr-13858	2366	2	supra	supra	PROPN
cblr-13858	2366	3	parts	part	NOUN
cblr-13858	2366	4	v.b	v.b	PROPN
cblr-13858	2366	5	and	and	CCONJ
cblr-13858	2366	6	v.d	v.d	PROPN
cblr-13858	2366	7	.	.	PROPN
cblr-13858	2367	1	neither	neither	DET
cblr-13858	2367	2	proposal	proposal	NOUN
cblr-13858	2367	3	indicates	indicate	VERB
cblr-13858	2367	4	how	how	SCONJ
cblr-13858	2367	5	the	the	DET
cblr-13858	2367	6	limit	limit	NOUN
cblr-13858	2367	7	will	will	AUX
cblr-13858	2367	8	be	be	AUX
cblr-13858	2367	9	applied	apply	VERB
cblr-13858	2367	10	if	if	SCONJ
cblr-13858	2367	11	an	an	DET
cblr-13858	2367	12	investment	investment	NOUN
cblr-13858	2367	13	is	be	AUX
cblr-13858	2367	14	within	within	ADP
cblr-13858	2367	15	one	one	NUM
cblr-13858	2367	16	of	of	ADP
cblr-13858	2367	17	those	those	DET
cblr-13858	2367	18	limits	limit	NOUN
cblr-13858	2367	19	but	but	CCONJ
cblr-13858	2367	20	not	not	PART
cblr-13858	2367	21	the	the	DET
cblr-13858	2367	22	other	other	ADJ
cblr-13858	2367	23	.	.	PUNCT
cblr-13858	2368	1	in	in	ADP
cblr-13858	2368	2	house	house	PROPN
cblr-13858	2368	3	bill	bill	PROPN
cblr-13858	2368	4	2930	2930	NUM
cblr-13858	2368	5	,	,	PUNCT
cblr-13858	2368	6	the	the	DET
cblr-13858	2368	7	limit	limit	NOUN
cblr-13858	2368	8	is	be	AUX
cblr-13858	2368	9	the	the	DET
cblr-13858	2368	10	lesser	less	ADJ
cblr-13858	2368	11	of	of	ADP
cblr-13858	2368	12	$	$	SYM
cblr-13858	2368	13	10,000	10,000	NUM
cblr-13858	2368	14	or	or	CCONJ
cblr-13858	2368	15	10	10	NUM
cblr-13858	2368	16	%	%	NOUN
cblr-13858	2368	17	of	of	ADP
cblr-13858	2368	18	the	the	DET
cblr-13858	2368	19	investor	investor	NOUN
cblr-13858	2368	20	's	's	PART
cblr-13858	2368	21	annual	annual	ADJ
cblr-13858	2368	22	income	income	NOUN
cblr-13858	2368	23	.	.	PUNCT
cblr-13858	2369	1	see	see	VERB
cblr-13858	2369	2	supra	supra	PROPN
cblr-13858	2369	3	part	part	PROPN
cblr-13858	2369	4	v.g.1	v.g.1	PROPN
cblr-13858	2369	5	.	.	PROPN
cblr-13858	2370	1	6	6	NUM
cblr-13858	2370	2	house	house	NOUN
cblr-13858	2370	3	bill	bill	NOUN
cblr-13858	2370	4	2930	2930	NUM
cblr-13858	2370	5	provides	provide	VERB
cblr-13858	2370	6	that	that	SCONJ
cblr-13858	2370	7	"	"	PUNCT
cblr-13858	2370	8	an	an	DET
cblr-13858	2370	9	issuer	issuer	NOUN
cblr-13858	2370	10	or	or	CCONJ
cblr-13858	2370	11	intermediary	intermediary	NOUN
cblr-13858	2370	12	may	may	AUX
cblr-13858	2370	13	rely	rely	VERB
cblr-13858	2370	14	on	on	ADP
cblr-13858	2370	15	certifications	certification	NOUN
cblr-13858	2370	16	as	as	ADP
cblr-13858	2370	17	to	to	ADP
cblr-13858	2370	18	annual	annual	ADJ
cblr-13858	2370	19	income	income	NOUN
cblr-13858	2370	20	provided	provide	VERB
cblr-13858	2370	21	by	by	ADP
cblr-13858	2370	22	the	the	DET
cblr-13858	2370	23	person	person	NOUN
cblr-13858	2370	24	to	to	PART
cblr-13858	2370	25	whom	whom	PRON
cblr-13858	2370	26	the	the	DET
cblr-13858	2370	27	securities	security	NOUN
cblr-13858	2370	28	are	be	AUX
cblr-13858	2370	29	sold	sell	VERB
cblr-13858	2370	30	to	to	PART
cblr-13858	2370	31	verify	verify	VERB
cblr-13858	2370	32	the	the	DET
cblr-13858	2370	33	investor	investor	NOUN
cblr-13858	2370	34	's	's	PART
cblr-13858	2370	35	income	income	NOUN
cblr-13858	2370	36	.	.	PUNCT
cblr-13858	2370	37	"	"	PUNCT
cblr-13858	2371	1	h.r	h.r	PROPN
cblr-13858	2371	2	.	.	PROPN
cblr-13858	2371	3	2930	2930	NUM
cblr-13858	2371	4	,	,	PUNCT
cblr-13858	2371	5	112th	112th	PROPN
cblr-13858	2371	6	cong	cong	NOUN
cblr-13858	2371	7	.	.	PUNCT
cblr-13858	2372	1	§	§	PROPN
cblr-13858	2372	2	2	2	NUM
cblr-13858	2372	3	(	(	PUNCT
cblr-13858	2372	4	2011	2011	NUM
cblr-13858	2372	5	)	)	PUNCT
cblr-13858	2372	6	.	.	PUNCT
cblr-13858	2373	1	it	it	PRON
cblr-13858	2373	2	is	be	AUX
cblr-13858	2373	3	unclear	unclear	ADJ
cblr-13858	2373	4	what	what	PRON
cblr-13858	2373	5	would	would	AUX
cblr-13858	2373	6	happen	happen	VERB
cblr-13858	2373	7	under	under	ADP
cblr-13858	2373	8	this	this	DET
cblr-13858	2373	9	proposal	proposal	NOUN
cblr-13858	2373	10	if	if	SCONJ
cblr-13858	2373	11	the	the	DET
cblr-13858	2373	12	issuer	issuer	NOUN
cblr-13858	2373	13	knows	know	VERB
cblr-13858	2373	14	or	or	CCONJ
cblr-13858	2373	15	reasonably	reasonably	ADV
cblr-13858	2373	16	should	should	AUX
cblr-13858	2373	17	know	know	VERB
cblr-13858	2373	18	that	that	SCONJ
cblr-13858	2373	19	the	the	DET
cblr-13858	2373	20	investor	investor	NOUN
cblr-13858	2373	21	's	's	PART
cblr-13858	2373	22	selfcertification	selfcertification	NOUN
cblr-13858	2373	23	is	be	AUX
cblr-13858	2373	24	false	false	ADJ
cblr-13858	2373	25	.	.	PUNCT
cblr-13858	2374	1	what	what	PRON
cblr-13858	2374	2	if	if	SCONJ
cblr-13858	2374	3	,	,	PUNCT
cblr-13858	2374	4	for	for	ADP
cblr-13858	2374	5	instance	instance	NOUN
cblr-13858	2374	6	,	,	PUNCT
cblr-13858	2374	7	the	the	DET
cblr-13858	2374	8	investor	investor	NOUN
cblr-13858	2374	9	states	state	VERB
cblr-13858	2374	10	one	one	NUM
cblr-13858	2374	11	income	income	NOUN
cblr-13858	2374	12	,	,	PUNCT
cblr-13858	2374	13	then	then	ADV
cblr-13858	2374	14	changes	change	VERB
cblr-13858	2374	15	it	it	PRON
cblr-13858	2374	16	when	when	SCONJ
cblr-13858	2374	17	she	she	PRON
cblr-13858	2374	18	wants	want	VERB
cblr-13858	2374	19	to	to	PART
cblr-13858	2374	20	invest	invest	VERB
cblr-13858	2374	21	more	more	ADJ
cblr-13858	2374	22	money	money	NOUN
cblr-13858	2374	23	?	?	PUNCT
cblr-13858	2374	24	"	"	PUNCT
cblr-13858	2375	1	s.	s.	PROPN
cblr-13858	2375	2	1970	1970	NUM
cblr-13858	2375	3	,	,	PUNCT
cblr-13858	2375	4	112th	112th	PROPN
cblr-13858	2375	5	cong	cong	NOUN
cblr-13858	2375	6	.	.	PUNCT
cblr-13858	2376	1	§	§	PROPN
cblr-13858	2376	2	2	2	NUM
cblr-13858	2376	3	(	(	PUNCT
cblr-13858	2376	4	2011	2011	NUM
cblr-13858	2376	5	)	)	PUNCT
cblr-13858	2376	6	.	.	PUNCT
cblr-13858	2377	1	128	128	NUM
cblr-13858	2377	2	col	col	PROPN
cblr-13858	2377	3	umia	umia	PROPN
cblr-13858	2377	4	b	b	PROPN
cblr-13858	2377	5	usiness	usiness	PROPN
cblr-13858	2377	6	la	la	PROPN
cblr-13858	2377	7	w	w	PROPN
cblr-13858	2377	8	re	re	PROPN
cblr-13858	2377	9	vie	vie	PROPN
cblr-13858	2377	10	w	w	PROPN
cblr-13858	2378	1	[	[	X
cblr-13858	2378	2	vol	vol	NOUN
cblr-13858	2378	3	.	.	NOUN
cblr-13858	2378	4	2012	2012	NUM
cblr-13858	2378	5	dollar	dollar	NOUN
cblr-13858	2378	6	amount	amount	NOUN
cblr-13858	2378	7	.	.	PUNCT
cblr-13858	2379	1	"*8	"*8	PUNCT
cblr-13858	2380	1	an	an	DET
cblr-13858	2380	2	income	income	NOUN
cblr-13858	2380	3	determination	determination	NOUN
cblr-13858	2380	4	would	would	AUX
cblr-13858	2380	5	be	be	AUX
cblr-13858	2380	6	required	require	VERB
cblr-13858	2380	7	on	on	ADP
cblr-13858	2380	8	a	a	DET
cblr-13858	2380	9	case	case	NOUN
cblr-13858	2380	10	-	-	PUNCT
cblr-13858	2380	11	by	by	ADP
cblr-13858	2380	12	-	-	PUNCT
cblr-13858	2380	13	case	case	NOUN
cblr-13858	2380	14	basis	basis	NOUN
cblr-13858	2380	15	only	only	ADV
cblr-13858	2380	16	if	if	SCONJ
cblr-13858	2380	17	the	the	DET
cblr-13858	2380	18	site	site	NOUN
cblr-13858	2380	19	chose	choose	VERB
cblr-13858	2380	20	to	to	PART
cblr-13858	2380	21	allow	allow	VERB
cblr-13858	2380	22	a	a	DET
cblr-13858	2380	23	particular	particular	ADJ
cblr-13858	2380	24	investor	investor	NOUN
cblr-13858	2380	25	to	to	PART
cblr-13858	2380	26	contribute	contribute	VERB
cblr-13858	2380	27	more	more	ADJ
cblr-13858	2380	28	than	than	ADP
cblr-13858	2380	29	that	that	DET
cblr-13858	2380	30	dollar	dollar	NOUN
cblr-13858	2380	31	limit	limit	NOUN
cblr-13858	2380	32	.	.	PUNCT
cblr-13858	2381	1	it	it	PRON
cblr-13858	2381	2	would	would	AUX
cblr-13858	2381	3	,	,	PUNCT
cblr-13858	2381	4	therefore	therefore	ADV
cblr-13858	2381	5	,	,	PUNCT
cblr-13858	2381	6	be	be	AUX
cblr-13858	2381	7	left	leave	VERB
cblr-13858	2381	8	to	to	ADP
cblr-13858	2381	9	the	the	DET
cblr-13858	2381	10	site	site	NOUN
cblr-13858	2381	11	to	to	PART
cblr-13858	2381	12	decide	decide	VERB
cblr-13858	2381	13	whether	whether	SCONJ
cblr-13858	2381	14	to	to	PART
cblr-13858	2381	15	incur	incur	VERB
cblr-13858	2381	16	the	the	DET
cblr-13858	2381	17	additional	additional	ADJ
cblr-13858	2381	18	costs	cost	NOUN
cblr-13858	2381	19	of	of	ADP
cblr-13858	2381	20	determining	determine	VERB
cblr-13858	2381	21	an	an	DET
cblr-13858	2381	22	investor	investor	NOUN
cblr-13858	2381	23	's	's	PART
cblr-13858	2381	24	income	income	NOUN
cblr-13858	2381	25	.	.	PUNCT
cblr-13858	2382	1	"	"	PUNCT
cblr-13858	2382	2	*	*	PUNCT
cblr-13858	2382	3	both	both	CCONJ
cblr-13858	2382	4	the	the	DET
cblr-13858	2382	5	dollar	dollar	NOUN
cblr-13858	2382	6	amount	amount	NOUN
cblr-13858	2382	7	and	and	CCONJ
cblr-13858	2382	8	the	the	DET
cblr-13858	2382	9	income	income	NOUN
cblr-13858	2382	10	percentage	percentage	NOUN
cblr-13858	2382	11	should	should	AUX
cblr-13858	2382	12	be	be	AUX
cblr-13858	2382	13	low	low	ADJ
cblr-13858	2382	14	enough	enough	ADV
cblr-13858	2382	15	that	that	SCONJ
cblr-13858	2382	16	most	most	ADJ
cblr-13858	2382	17	people	people	NOUN
cblr-13858	2382	18	could	could	AUX
cblr-13858	2382	19	afford	afford	VERB
cblr-13858	2382	20	to	to	PART
cblr-13858	2382	21	lose	lose	VERB
cblr-13858	2382	22	that	that	DET
cblr-13858	2382	23	amount	amount	NOUN
cblr-13858	2382	24	.	.	PUNCT
cblr-13858	2383	1	neither	neither	PRON
cblr-13858	2383	2	theory	theory	NOUN
cblr-13858	2383	3	nor	nor	CCONJ
cblr-13858	2383	4	empirical	empirical	ADJ
cblr-13858	2383	5	analysis	analysis	NOUN
cblr-13858	2383	6	can	can	AUX
cblr-13858	2383	7	specify	specify	VERB
cblr-13858	2383	8	the	the	DET
cblr-13858	2383	9	precise	precise	ADJ
cblr-13858	2383	10	amount	amount	NOUN
cblr-13858	2383	11	,	,	PUNCT
cblr-13858	2383	12	but	but	CCONJ
cblr-13858	2383	13	an	an	DET
cblr-13858	2383	14	investment	investment	NOUN
cblr-13858	2383	15	limit	limit	NOUN
cblr-13858	2383	16	of	of	ADP
cblr-13858	2383	17	around	around	ADV
cblr-13858	2383	18	$	$	SYM
cblr-13858	2383	19	500	500	NUM
cblr-13858	2383	20	per	per	ADP
cblr-13858	2383	21	person	person	NOUN
cblr-13858	2383	22	seems	seem	VERB
cblr-13858	2383	23	reasonable	reasonable	ADJ
cblr-13858	2383	24	.	.	PUNCT
cblr-13858	2384	1	"'o	"'o	NOUN
cblr-13858	2384	2	this	this	DET
cblr-13858	2384	3	amount	amount	NOUN
cblr-13858	2384	4	is	be	AUX
cblr-13858	2384	5	more	more	ADJ
cblr-13858	2384	6	than	than	ADP
cblr-13858	2384	7	'	'	PUNCT
cblr-13858	2384	8	if	if	SCONJ
cblr-13858	2384	9	,	,	PUNCT
cblr-13858	2384	10	as	as	ADP
cblr-13858	2384	11	in	in	ADP
cblr-13858	2384	12	some	some	PRON
cblr-13858	2384	13	of	of	ADP
cblr-13858	2384	14	the	the	DET
cblr-13858	2384	15	other	other	ADJ
cblr-13858	2384	16	exemption	exemption	NOUN
cblr-13858	2384	17	proposals	proposal	NOUN
cblr-13858	2384	18	,	,	PUNCT
cblr-13858	2384	19	the	the	DET
cblr-13858	2384	20	limit	limit	NOUN
cblr-13858	2384	21	is	be	AUX
cblr-13858	2384	22	the	the	DET
cblr-13858	2384	23	lesser	less	ADJ
cblr-13858	2384	24	of	of	ADP
cblr-13858	2384	25	the	the	DET
cblr-13858	2384	26	two	two	NUM
cblr-13858	2384	27	alternatives	alternative	NOUN
cblr-13858	2384	28	,	,	PUNCT
cblr-13858	2384	29	crowdfunding	crowdfunding	NOUN
cblr-13858	2384	30	sites	site	NOUN
cblr-13858	2384	31	would	would	AUX
cblr-13858	2384	32	still	still	ADV
cblr-13858	2384	33	have	have	VERB
cblr-13858	2384	34	to	to	PART
cblr-13858	2384	35	determine	determine	VERB
cblr-13858	2384	36	each	each	DET
cblr-13858	2384	37	investor	investor	NOUN
cblr-13858	2384	38	's	's	PART
cblr-13858	2384	39	income	income	NOUN
cblr-13858	2384	40	in	in	ADP
cblr-13858	2384	41	order	order	NOUN
cblr-13858	2384	42	to	to	PART
cblr-13858	2384	43	know	know	VERB
cblr-13858	2384	44	which	which	PRON
cblr-13858	2384	45	of	of	ADP
cblr-13858	2384	46	the	the	DET
cblr-13858	2384	47	two	two	NUM
cblr-13858	2384	48	numbers	number	NOUN
cblr-13858	2384	49	is	be	AUX
cblr-13858	2384	50	smaller	small	ADJ
cblr-13858	2384	51	.	.	PUNCT
cblr-13858	2384	52	"	"	PUNCT
cblr-13858	2385	1	if	if	SCONJ
cblr-13858	2385	2	a	a	DET
cblr-13858	2385	3	site	site	NOUN
cblr-13858	2385	4	does	do	AUX
cblr-13858	2385	5	choose	choose	VERB
cblr-13858	2385	6	to	to	PART
cblr-13858	2385	7	use	use	VERB
cblr-13858	2385	8	the	the	DET
cblr-13858	2385	9	income	income	NOUN
cblr-13858	2385	10	-	-	PUNCT
cblr-13858	2385	11	based	base	VERB
cblr-13858	2385	12	limit	limit	NOUN
cblr-13858	2385	13	,	,	PUNCT
cblr-13858	2385	14	it	it	PRON
cblr-13858	2385	15	should	should	AUX
cblr-13858	2385	16	only	only	ADV
cblr-13858	2385	17	have	have	VERB
cblr-13858	2385	18	to	to	PART
cblr-13858	2385	19	establish	establish	VERB
cblr-13858	2385	20	a	a	DET
cblr-13858	2385	21	reasonable	reasonable	ADJ
cblr-13858	2385	22	belief	belief	NOUN
cblr-13858	2385	23	that	that	SCONJ
cblr-13858	2385	24	the	the	DET
cblr-13858	2385	25	investor	investor	NOUN
cblr-13858	2385	26	qualifies	qualify	VERB
cblr-13858	2385	27	.	.	PUNCT
cblr-13858	2386	1	the	the	DET
cblr-13858	2386	2	easiest	easy	ADJ
cblr-13858	2386	3	way	way	NOUN
cblr-13858	2386	4	to	to	PART
cblr-13858	2386	5	do	do	VERB
cblr-13858	2386	6	this	this	PRON
cblr-13858	2386	7	would	would	AUX
cblr-13858	2386	8	be	be	AUX
cblr-13858	2386	9	to	to	PART
cblr-13858	2386	10	obtain	obtain	VERB
cblr-13858	2386	11	the	the	DET
cblr-13858	2386	12	first	first	ADJ
cblr-13858	2386	13	two	two	NUM
cblr-13858	2386	14	pages	page	NOUN
cblr-13858	2386	15	of	of	ADP
cblr-13858	2386	16	the	the	DET
cblr-13858	2386	17	investor	investor	NOUN
cblr-13858	2386	18	's	's	PART
cblr-13858	2386	19	federal	federal	ADJ
cblr-13858	2386	20	tax	tax	NOUN
cblr-13858	2386	21	return	return	NOUN
cblr-13858	2386	22	.	.	PUNCT
cblr-13858	2387	1	..	..	PUNCT
cblr-13858	2388	1	o	o	NOUN
cblr-13858	2388	2	see	see	VERB
cblr-13858	2388	3	heminway	heminway	NOUN
cblr-13858	2388	4	&	&	CCONJ
cblr-13858	2388	5	hoffman	hoffman	PROPN
cblr-13858	2388	6	,	,	PUNCT
cblr-13858	2388	7	supra	supra	PROPN
cblr-13858	2388	8	note	note	PROPN
cblr-13858	2388	9	142	142	NUM
cblr-13858	2388	10	,	,	PUNCT
cblr-13858	2388	11	at	at	ADP
cblr-13858	2388	12	948	948	NUM
cblr-13858	2388	13	(	(	PUNCT
cblr-13858	2388	14	proposing	propose	VERB
cblr-13858	2388	15	an	an	DET
cblr-13858	2388	16	individual	individual	ADJ
cblr-13858	2388	17	limit	limit	NOUN
cblr-13858	2388	18	of	of	ADP
cblr-13858	2388	19	$	$	SYM
cblr-13858	2388	20	100	100	NUM
cblr-13858	2388	21	to	to	PART
cblr-13858	2388	22	$	$	SYM
cblr-13858	2388	23	250	250	NUM
cblr-13858	2388	24	per	per	ADP
cblr-13858	2388	25	offering	offering	NOUN
cblr-13858	2388	26	)	)	PUNCT
cblr-13858	2388	27	;	;	PUNCT
cblr-13858	2388	28	shane	shane	NOUN
cblr-13858	2388	29	,	,	PUNCT
cblr-13858	2388	30	supra	supra	PROPN
cblr-13858	2388	31	note	note	NOUN
cblr-13858	2388	32	588	588	NUM
cblr-13858	2388	33	(	(	PUNCT
cblr-13858	2388	34	arguing	argue	VERB
cblr-13858	2388	35	that	that	SCONJ
cblr-13858	2388	36	allowing	allow	VERB
cblr-13858	2388	37	people	people	NOUN
cblr-13858	2388	38	to	to	PART
cblr-13858	2388	39	invest	invest	VERB
cblr-13858	2388	40	only	only	ADV
cblr-13858	2388	41	$	$	SYM
cblr-13858	2388	42	100	100	NUM
cblr-13858	2388	43	"	"	PUNCT
cblr-13858	2388	44	does	do	AUX
cblr-13858	2388	45	n't	not	PART
cblr-13858	2388	46	seem	seem	VERB
cblr-13858	2388	47	to	to	PART
cblr-13858	2388	48	impose	impose	VERB
cblr-13858	2388	49	a	a	DET
cblr-13858	2388	50	significant	significant	ADJ
cblr-13858	2388	51	risk	risk	NOUN
cblr-13858	2388	52	of	of	ADP
cblr-13858	2388	53	financial	financial	ADJ
cblr-13858	2388	54	loss	loss	NOUN
cblr-13858	2388	55	on	on	ADP
cblr-13858	2388	56	individuals	individual	NOUN
cblr-13858	2388	57	"	"	PUNCT
cblr-13858	2388	58	)	)	PUNCT
cblr-13858	2388	59	.	.	PUNCT
cblr-13858	2389	1	the	the	DET
cblr-13858	2389	2	limit	limit	NOUN
cblr-13858	2389	3	could	could	AUX
cblr-13858	2389	4	be	be	AUX
cblr-13858	2389	5	applied	apply	VERB
cblr-13858	2389	6	individually	individually	ADV
cblr-13858	2389	7	or	or	CCONJ
cblr-13858	2389	8	on	on	ADP
cblr-13858	2389	9	a	a	DET
cblr-13858	2389	10	household	household	NOUN
cblr-13858	2389	11	basis	basis	NOUN
cblr-13858	2389	12	.	.	PUNCT
cblr-13858	2390	1	an	an	DET
cblr-13858	2390	2	individual	individual	ADJ
cblr-13858	2390	3	limit	limit	NOUN
cblr-13858	2390	4	would	would	AUX
cblr-13858	2390	5	be	be	AUX
cblr-13858	2390	6	easier	easy	ADJ
cblr-13858	2390	7	to	to	PART
cblr-13858	2390	8	administer	administer	VERB
cblr-13858	2390	9	because	because	SCONJ
cblr-13858	2390	10	neither	neither	CCONJ
cblr-13858	2390	11	the	the	DET
cblr-13858	2390	12	site	site	NOUN
cblr-13858	2390	13	nor	nor	CCONJ
cblr-13858	2390	14	the	the	DET
cblr-13858	2390	15	issuer	issuer	NOUN
cblr-13858	2390	16	would	would	AUX
cblr-13858	2390	17	have	have	VERB
cblr-13858	2390	18	to	to	PART
cblr-13858	2390	19	determine	determine	VERB
cblr-13858	2390	20	who	who	PRON
cblr-13858	2390	21	belongs	belong	VERB
cblr-13858	2390	22	to	to	ADP
cblr-13858	2390	23	the	the	DET
cblr-13858	2390	24	same	same	ADJ
cblr-13858	2390	25	family	family	NOUN
cblr-13858	2390	26	or	or	CCONJ
cblr-13858	2390	27	household	household	NOUN
cblr-13858	2390	28	.	.	PUNCT
cblr-13858	2391	1	however	however	ADV
cblr-13858	2391	2	,	,	PUNCT
cblr-13858	2391	3	risk	risk	NOUN
cblr-13858	2391	4	is	be	AUX
cblr-13858	2391	5	typically	typically	ADV
cblr-13858	2391	6	borne	bear	VERB
cblr-13858	2391	7	by	by	ADP
cblr-13858	2391	8	a	a	DET
cblr-13858	2391	9	household	household	NOUN
cblr-13858	2391	10	as	as	ADP
cblr-13858	2391	11	a	a	DET
cblr-13858	2391	12	whole	whole	NOUN
cblr-13858	2391	13	;	;	PUNCT
cblr-13858	2391	14	if	if	SCONJ
cblr-13858	2391	15	one	one	NUM
cblr-13858	2391	16	family	family	NOUN
cblr-13858	2391	17	member	member	NOUN
cblr-13858	2391	18	loses	lose	VERB
cblr-13858	2391	19	money	money	NOUN
cblr-13858	2391	20	,	,	PUNCT
cblr-13858	2391	21	the	the	DET
cblr-13858	2391	22	entire	entire	ADJ
cblr-13858	2391	23	family	family	NOUN
cblr-13858	2391	24	suffers	suffer	VERB
cblr-13858	2391	25	.	.	PUNCT
cblr-13858	2392	1	the	the	DET
cblr-13858	2392	2	dollar	dollar	NOUN
cblr-13858	2392	3	limit	limit	NOUN
cblr-13858	2392	4	should	should	AUX
cblr-13858	2392	5	be	be	AUX
cblr-13858	2392	6	adjusted	adjust	VERB
cblr-13858	2392	7	to	to	PART
cblr-13858	2392	8	account	account	VERB
cblr-13858	2392	9	for	for	ADP
cblr-13858	2392	10	the	the	DET
cblr-13858	2392	11	individual	individual	ADJ
cblr-13858	2392	12	-	-	PUNCT
cblr-13858	2392	13	versus	versus	ADP
cblr-13858	2392	14	-	-	PUNCT
cblr-13858	2392	15	family	family	NOUN
cblr-13858	2392	16	choice	choice	NOUN
cblr-13858	2392	17	.	.	PUNCT
cblr-13858	2393	1	if	if	SCONJ
cblr-13858	2393	2	the	the	DET
cblr-13858	2393	3	limit	limit	NOUN
cblr-13858	2393	4	is	be	AUX
cblr-13858	2393	5	applied	apply	VERB
cblr-13858	2393	6	on	on	ADP
cblr-13858	2393	7	an	an	DET
cblr-13858	2393	8	individual	individual	ADJ
cblr-13858	2393	9	basis	basis	NOUN
cblr-13858	2393	10	,	,	PUNCT
cblr-13858	2393	11	the	the	DET
cblr-13858	2393	12	limit	limit	NOUN
cblr-13858	2393	13	can	can	AUX
cblr-13858	2393	14	be	be	AUX
cblr-13858	2393	15	slightly	slightly	ADV
cblr-13858	2393	16	less	less	ADJ
cblr-13858	2393	17	.	.	PUNCT
cblr-13858	2394	1	if	if	SCONJ
cblr-13858	2394	2	it	it	PRON
cblr-13858	2394	3	is	be	AUX
cblr-13858	2394	4	applied	apply	VERB
cblr-13858	2394	5	on	on	ADP
cblr-13858	2394	6	a	a	DET
cblr-13858	2394	7	household	household	NOUN
cblr-13858	2394	8	basis	basis	NOUN
cblr-13858	2394	9	,	,	PUNCT
cblr-13858	2394	10	it	it	PRON
cblr-13858	2394	11	can	can	AUX
cblr-13858	2394	12	be	be	AUX
cblr-13858	2394	13	slightly	slightly	ADV
cblr-13858	2394	14	more	more	ADJ
cblr-13858	2394	15	.	.	PUNCT
cblr-13858	2395	1	the	the	DET
cblr-13858	2395	2	author	author	NOUN
cblr-13858	2395	3	's	's	PART
cblr-13858	2395	4	colleague	colleague	NOUN
cblr-13858	2395	5	,	,	PUNCT
cblr-13858	2395	6	steve	steve	PROPN
cblr-13858	2395	7	willborn	willborn	PROPN
cblr-13858	2395	8	,	,	PUNCT
cblr-13858	2395	9	suggests	suggest	VERB
cblr-13858	2395	10	a	a	DET
cblr-13858	2395	11	mandatory	mandatory	ADJ
cblr-13858	2395	12	diversification	diversification	NOUN
cblr-13858	2395	13	requirement	requirement	NOUN
cblr-13858	2395	14	-	-	PUNCT
cblr-13858	2395	15	requiring	require	VERB
cblr-13858	2395	16	investors	investor	NOUN
cblr-13858	2395	17	to	to	PART
cblr-13858	2395	18	spread	spread	VERB
cblr-13858	2395	19	the	the	DET
cblr-13858	2395	20	maximum	maximum	NOUN
cblr-13858	2395	21	in	in	ADP
cblr-13858	2395	22	smaller	small	ADJ
cblr-13858	2395	23	amounts	amount	NOUN
cblr-13858	2395	24	across	across	ADP
cblr-13858	2395	25	several	several	ADJ
cblr-13858	2395	26	different	different	ADJ
cblr-13858	2395	27	offerings	offering	NOUN
cblr-13858	2395	28	.	.	PUNCT
cblr-13858	2396	1	he	he	PRON
cblr-13858	2396	2	points	point	VERB
cblr-13858	2396	3	out	out	ADP
cblr-13858	2396	4	that	that	SCONJ
cblr-13858	2396	5	this	this	PRON
cblr-13858	2396	6	could	could	AUX
cblr-13858	2396	7	reduce	reduce	VERB
cblr-13858	2396	8	some	some	PRON
cblr-13858	2396	9	of	of	ADP
cblr-13858	2396	10	the	the	DET
cblr-13858	2396	11	company	company	NOUN
cblr-13858	2396	12	-	-	PUNCT
cblr-13858	2396	13	specific	specific	ADJ
cblr-13858	2396	14	risk	risk	NOUN
cblr-13858	2396	15	,	,	PUNCT
cblr-13858	2396	16	and	and	CCONJ
cblr-13858	2396	17	thus	thus	ADV
cblr-13858	2396	18	reduce	reduce	VERB
cblr-13858	2396	19	the	the	DET
cblr-13858	2396	20	expected	expect	VERB
cblr-13858	2396	21	loss	loss	NOUN
cblr-13858	2396	22	.	.	PUNCT
cblr-13858	2397	1	however	however	ADV
cblr-13858	2397	2	,	,	PUNCT
cblr-13858	2397	3	the	the	DET
cblr-13858	2397	4	question	question	NOUN
cblr-13858	2397	5	is	be	AUX
cblr-13858	2397	6	not	not	PART
cblr-13858	2397	7	what	what	PRON
cblr-13858	2397	8	the	the	DET
cblr-13858	2397	9	average	average	ADJ
cblr-13858	2397	10	,	,	PUNCT
cblr-13858	2397	11	expected	expect	VERB
cblr-13858	2397	12	loss	loss	NOUN
cblr-13858	2397	13	will	will	AUX
cblr-13858	2397	14	be	be	AUX
cblr-13858	2397	15	,	,	PUNCT
cblr-13858	2397	16	but	but	CCONJ
cblr-13858	2397	17	how	how	SCONJ
cblr-13858	2397	18	much	much	ADJ
cblr-13858	2397	19	of	of	ADP
cblr-13858	2397	20	a	a	DET
cblr-13858	2397	21	loss	loss	NOUN
cblr-13858	2397	22	the	the	DET
cblr-13858	2397	23	investor	investor	NOUN
cblr-13858	2397	24	can	can	AUX
cblr-13858	2397	25	bear	bear	VERB
cblr-13858	2397	26	.	.	PUNCT
cblr-13858	2398	1	diversification	diversification	NOUN
cblr-13858	2398	2	would	would	AUX
cblr-13858	2398	3	not	not	PART
cblr-13858	2398	4	eliminate	eliminate	VERB
cblr-13858	2398	5	the	the	DET
cblr-13858	2398	6	risk	risk	NOUN
cblr-13858	2398	7	of	of	ADP
cblr-13858	2398	8	a	a	DET
cblr-13858	2398	9	complete	complete	ADJ
cblr-13858	2398	10	loss	loss	NOUN
cblr-13858	2398	11	,	,	PUNCT
cblr-13858	2398	12	so	so	SCONJ
cblr-13858	2398	13	the	the	DET
cblr-13858	2398	14	question	question	NOUN
cblr-13858	2398	15	is	be	AUX
cblr-13858	2398	16	still	still	ADV
cblr-13858	2398	17	the	the	DET
cblr-13858	2398	18	maximum	maximum	ADJ
cblr-13858	2398	19	amount	amount	NOUN
cblr-13858	2398	20	an	an	DET
cblr-13858	2398	21	investor	investor	NOUN
cblr-13858	2398	22	can	can	AUX
cblr-13858	2398	23	afford	afford	VERB
cblr-13858	2398	24	to	to	PART
cblr-13858	2398	25	lose	lose	VERB
cblr-13858	2398	26	.	.	PUNCT
cblr-13858	2399	1	moreover	moreover	ADV
cblr-13858	2399	2	,	,	PUNCT
cblr-13858	2399	3	a	a	DET
cblr-13858	2399	4	diversification	diversification	NOUN
cblr-13858	2399	5	requirement	requirement	NOUN
cblr-13858	2399	6	would	would	AUX
cblr-13858	2399	7	increase	increase	VERB
cblr-13858	2399	8	the	the	DET
cblr-13858	2399	9	cost	cost	NOUN
cblr-13858	2399	10	of	of	ADP
cblr-13858	2399	11	using	use	VERB
cblr-13858	2399	12	the	the	DET
cblr-13858	2399	13	exemption	exemption	NOUN
cblr-13858	2399	14	in	in	ADP
cblr-13858	2399	15	two	two	NUM
cblr-13858	2399	16	ways	way	NOUN
cblr-13858	2399	17	.	.	PUNCT
cblr-13858	2400	1	first	first	ADV
cblr-13858	2400	2	,	,	PUNCT
cblr-13858	2400	3	enforcing	enforce	VERB
cblr-13858	2400	4	the	the	DET
cblr-13858	2400	5	diversification	diversification	NOUN
cblr-13858	2400	6	requirement	requirement	NOUN
cblr-13858	2400	7	would	would	AUX
cblr-13858	2400	8	increase	increase	VERB
cblr-13858	2400	9	the	the	DET
cblr-13858	2400	10	administrative	administrative	ADJ
cblr-13858	2400	11	cost	cost	NOUN
cblr-13858	2400	12	.	.	PUNCT
cblr-13858	2401	1	second	second	ADJ
cblr-13858	2401	2	,	,	PUNCT
cblr-13858	2401	3	a	a	DET
cblr-13858	2401	4	diversification	diversification	NOUN
cblr-13858	2401	5	requirement	requirement	NOUN
cblr-13858	2401	6	would	would	AUX
cblr-13858	2401	7	reduce	reduce	VERB
cblr-13858	2401	8	the	the	DET
cblr-13858	2401	9	average	average	ADJ
cblr-13858	2401	10	investment	investment	NOUN
cblr-13858	2401	11	amount	amount	NOUN
cblr-13858	2401	12	in	in	ADP
cblr-13858	2401	13	each	each	DET
cblr-13858	2401	14	offering	offering	NOUN
cblr-13858	2401	15	,	,	PUNCT
cblr-13858	2401	16	and	and	CCONJ
cblr-13858	2401	17	thus	thus	ADV
cblr-13858	2401	18	no	no	PRON
cblr-13858	2401	19	.	.	PUNCT
cblr-13858	2402	1	1:1]1	1:1]1	NUM
cblr-13858	2402	2	crowdfunding	crowdfunding	NOUN
cblr-13858	2402	3	and	and	CCONJ
cblr-13858	2402	4	securities	security	NOUN
cblr-13858	2402	5	la	la	PROPN
cblr-13858	2402	6	ws	ws	PROPN
cblr-13858	2402	7	129	129	NUM
cblr-13858	2402	8	some	some	DET
cblr-13858	2402	9	investors	investor	NOUN
cblr-13858	2402	10	could	could	AUX
cblr-13858	2402	11	afford	afford	VERB
cblr-13858	2402	12	to	to	PART
cblr-13858	2402	13	lose	lose	VERB
cblr-13858	2402	14	,	,	PUNCT
cblr-13858	2402	15	but	but	CCONJ
cblr-13858	2402	16	,	,	PUNCT
cblr-13858	2402	17	at	at	ADP
cblr-13858	2402	18	some	some	DET
cblr-13858	2402	19	point	point	NOUN
cblr-13858	2402	20	,	,	PUNCT
cblr-13858	2402	21	potential	potential	ADJ
cblr-13858	2402	22	investors	investor	NOUN
cblr-13858	2402	23	must	must	AUX
cblr-13858	2402	24	be	be	AUX
cblr-13858	2402	25	trusted	trust	VERB
cblr-13858	2402	26	to	to	PART
cblr-13858	2402	27	decide	decide	VERB
cblr-13858	2402	28	for	for	ADP
cblr-13858	2402	29	themselves	themselves	PRON
cblr-13858	2402	30	what	what	PRON
cblr-13858	2402	31	they	they	PRON
cblr-13858	2402	32	can	can	AUX
cblr-13858	2402	33	afford	afford	VERB
cblr-13858	2402	34	.	.	PUNCT
cblr-13858	2403	1	the	the	DET
cblr-13858	2403	2	$	$	SYM
cblr-13858	2403	3	10,000	10,000	NUM
cblr-13858	2403	4	individual	individual	ADJ
cblr-13858	2403	5	limit	limit	NOUN
cblr-13858	2403	6	in	in	ADP
cblr-13858	2403	7	some	some	PRON
cblr-13858	2403	8	of	of	ADP
cblr-13858	2403	9	the	the	DET
cblr-13858	2403	10	proposals	proposal	NOUN
cblr-13858	2403	11	seems	seem	VERB
cblr-13858	2403	12	excessive	excessive	ADJ
cblr-13858	2403	13	;	;	PUNCT
cblr-13858	2403	14	it	it	PRON
cblr-13858	2403	15	is	be	AUX
cblr-13858	2403	16	doubtful	doubtful	ADJ
cblr-13858	2403	17	whether	whether	SCONJ
cblr-13858	2403	18	most	most	ADJ
cblr-13858	2403	19	investors	investor	NOUN
cblr-13858	2403	20	could	could	AUX
cblr-13858	2403	21	afford	afford	VERB
cblr-13858	2403	22	an	an	DET
cblr-13858	2403	23	annual	annual	ADJ
cblr-13858	2403	24	loss	loss	NOUN
cblr-13858	2403	25	of	of	ADP
cblr-13858	2403	26	that	that	PRON
cblr-13858	2403	27	magnitude.6	magnitude.6	ADP
cblr-13858	2403	28	5	5	NUM
cblr-13858	2403	29	'	'	PUNCT
cblr-13858	2403	30	the	the	DET
cblr-13858	2403	31	alternative	alternative	ADJ
cblr-13858	2403	32	limit	limit	NOUN
cblr-13858	2403	33	in	in	ADP
cblr-13858	2403	34	the	the	DET
cblr-13858	2403	35	exemption	exemption	NOUN
cblr-13858	2403	36	proposals	proposal	NOUN
cblr-13858	2403	37	varies	vary	VERB
cblr-13858	2403	38	from	from	ADP
cblr-13858	2403	39	1	1	NUM
cblr-13858	2403	40	%	%	NOUN
cblr-13858	2403	41	to	to	PART
cblr-13858	2403	42	10	10	NUM
cblr-13858	2403	43	%	%	NOUN
cblr-13858	2403	44	of	of	ADP
cblr-13858	2403	45	the	the	DET
cblr-13858	2403	46	investor	investor	NOUN
cblr-13858	2403	47	's	's	PART
cblr-13858	2403	48	annual	annual	ADJ
cblr-13858	2403	49	income.652	income.652	PRON
cblr-13858	2403	50	again	again	ADV
cblr-13858	2403	51	,	,	PUNCT
cblr-13858	2403	52	there	there	PRON
cblr-13858	2403	53	is	be	VERB
cblr-13858	2403	54	no	no	DET
cblr-13858	2403	55	magic	magic	ADJ
cblr-13858	2403	56	number	number	NOUN
cblr-13858	2403	57	.	.	PUNCT
cblr-13858	2404	1	how	how	SCONJ
cblr-13858	2404	2	much	much	ADJ
cblr-13858	2404	3	an	an	DET
cblr-13858	2404	4	investor	investor	NOUN
cblr-13858	2404	5	can	can	AUX
cblr-13858	2404	6	afford	afford	VERB
cblr-13858	2404	7	to	to	PART
cblr-13858	2404	8	lose	lose	VERB
cblr-13858	2404	9	depends	depend	VERB
cblr-13858	2404	10	on	on	ADP
cblr-13858	2404	11	a	a	DET
cblr-13858	2404	12	number	number	NOUN
cblr-13858	2404	13	of	of	ADP
cblr-13858	2404	14	factors	factor	NOUN
cblr-13858	2404	15	other	other	ADJ
cblr-13858	2404	16	than	than	ADP
cblr-13858	2404	17	annual	annual	ADJ
cblr-13858	2404	18	income	income	NOUN
cblr-13858	2404	19	.	.	PUNCT
cblr-13858	2405	1	an	an	DET
cblr-13858	2405	2	investor	investor	NOUN
cblr-13858	2405	3	whose	whose	DET
cblr-13858	2405	4	wealth	wealth	NOUN
cblr-13858	2405	5	is	be	AUX
cblr-13858	2405	6	tied	tie	VERB
cblr-13858	2405	7	up	up	ADP
cblr-13858	2405	8	in	in	ADP
cblr-13858	2405	9	illiquid	illiquid	ADJ
cblr-13858	2405	10	assets	asset	NOUN
cblr-13858	2405	11	and	and	CCONJ
cblr-13858	2405	12	who	who	PRON
cblr-13858	2405	13	has	have	VERB
cblr-13858	2405	14	little	little	ADJ
cblr-13858	2405	15	free	free	ADJ
cblr-13858	2405	16	income	income	NOUN
cblr-13858	2405	17	can	can	AUX
cblr-13858	2405	18	afford	afford	VERB
cblr-13858	2405	19	to	to	PART
cblr-13858	2405	20	lose	lose	VERB
cblr-13858	2405	21	very	very	ADV
cblr-13858	2405	22	little	little	ADJ
cblr-13858	2405	23	of	of	ADP
cblr-13858	2405	24	her	her	PRON
cblr-13858	2405	25	income	income	NOUN
cblr-13858	2405	26	.	.	PUNCT
cblr-13858	2406	1	a	a	DET
cblr-13858	2406	2	cap	cap	NOUN
cblr-13858	2406	3	of	of	ADP
cblr-13858	2406	4	10	10	NUM
cblr-13858	2406	5	%	%	NOUN
cblr-13858	2406	6	seems	seem	VERB
cblr-13858	2406	7	too	too	ADV
cblr-13858	2406	8	high	high	ADJ
cblr-13858	2406	9	for	for	ADP
cblr-13858	2406	10	most	most	ADJ
cblr-13858	2406	11	people	people	NOUN
cblr-13858	2406	12	.	.	PUNCT
cblr-13858	2407	1	a	a	DET
cblr-13858	2407	2	more	more	ADV
cblr-13858	2407	3	cautious	cautious	ADJ
cblr-13858	2407	4	cap	cap	NOUN
cblr-13858	2407	5	of	of	ADP
cblr-13858	2407	6	2	2	NUM
cblr-13858	2407	7	%	%	NOUN
cblr-13858	2407	8	makes	make	VERB
cblr-13858	2407	9	more	more	ADJ
cblr-13858	2407	10	sense	sense	NOUN
cblr-13858	2407	11	,	,	PUNCT
cblr-13858	2407	12	at	at	ADP
cblr-13858	2407	13	least	least	ADJ
cblr-13858	2407	14	until	until	SCONJ
cblr-13858	2407	15	investors	investor	NOUN
cblr-13858	2407	16	have	have	VERB
cblr-13858	2407	17	some	some	DET
cblr-13858	2407	18	experience	experience	NOUN
cblr-13858	2407	19	with	with	ADP
cblr-13858	2407	20	the	the	DET
cblr-13858	2407	21	exemption	exemption	NOUN
cblr-13858	2407	22	.	.	PUNCT
cblr-13858	2408	1	thus	thus	ADV
cblr-13858	2408	2	,	,	PUNCT
cblr-13858	2408	3	an	an	DET
cblr-13858	2408	4	investor	investor	NOUN
cblr-13858	2408	5	should	should	AUX
cblr-13858	2408	6	be	be	AUX
cblr-13858	2408	7	able	able	ADJ
cblr-13858	2408	8	to	to	PART
cblr-13858	2408	9	invest	invest	VERB
cblr-13858	2408	10	no	no	PRON
cblr-13858	2408	11	more	more	ADJ
cblr-13858	2408	12	than	than	ADP
cblr-13858	2408	13	the	the	DET
cblr-13858	2408	14	greater	great	ADJ
cblr-13858	2408	15	of	of	ADP
cblr-13858	2408	16	$	$	SYM
cblr-13858	2408	17	500	500	NUM
cblr-13858	2408	18	or	or	CCONJ
cblr-13858	2408	19	2	2	NUM
cblr-13858	2408	20	%	%	NOUN
cblr-13858	2408	21	of	of	ADP
cblr-13858	2408	22	the	the	DET
cblr-13858	2408	23	investor	investor	NOUN
cblr-13858	2408	24	's	's	PART
cblr-13858	2408	25	annual	annual	ADJ
cblr-13858	2408	26	income.653	income.653	ADJ
cblr-13858	2408	27	increase	increase	NOUN
cblr-13858	2408	28	the	the	DET
cblr-13858	2408	29	number	number	NOUN
cblr-13858	2408	30	of	of	ADP
cblr-13858	2408	31	purchasers	purchaser	NOUN
cblr-13858	2408	32	,	,	PUNCT
cblr-13858	2408	33	increasing	increase	VERB
cblr-13858	2408	34	the	the	DET
cblr-13858	2408	35	cost	cost	NOUN
cblr-13858	2408	36	of	of	ADP
cblr-13858	2408	37	making	make	VERB
cblr-13858	2408	38	an	an	DET
cblr-13858	2408	39	offering	offering	NOUN
cblr-13858	2408	40	under	under	ADP
cblr-13858	2408	41	the	the	DET
cblr-13858	2408	42	exemption	exemption	NOUN
cblr-13858	2408	43	.	.	PUNCT
cblr-13858	2409	1	6	6	NUM
cblr-13858	2409	2	pope	pope	NOUN
cblr-13858	2409	3	proposes	propose	VERB
cblr-13858	2409	4	a	a	DET
cblr-13858	2409	5	limit	limit	NOUN
cblr-13858	2409	6	of	of	ADP
cblr-13858	2409	7	$	$	SYM
cblr-13858	2409	8	1,000	1,000	NUM
cblr-13858	2409	9	per	per	ADP
cblr-13858	2409	10	investor	investor	NOUN
cblr-13858	2409	11	,	,	PUNCT
cblr-13858	2409	12	arguing	argue	VERB
cblr-13858	2409	13	that	that	SCONJ
cblr-13858	2409	14	"	"	PUNCT
cblr-13858	2409	15	many	many	ADJ
cblr-13858	2409	16	consumers	consumer	NOUN
cblr-13858	2409	17	already	already	ADV
cblr-13858	2409	18	spend	spend	VERB
cblr-13858	2409	19	[	[	PUNCT
cblr-13858	2409	20	that	that	PRON
cblr-13858	2409	21	much	much	ADJ
cblr-13858	2409	22	]	]	PUNCT
cblr-13858	2409	23	on	on	ADP
cblr-13858	2409	24	items	item	NOUN
cblr-13858	2409	25	such	such	ADJ
cblr-13858	2409	26	as	as	ADP
cblr-13858	2409	27	laptop	laptop	NOUN
cblr-13858	2409	28	computers	computer	NOUN
cblr-13858	2409	29	and	and	CCONJ
cblr-13858	2409	30	tablets	tablet	NOUN
cblr-13858	2409	31	,	,	PUNCT
cblr-13858	2409	32	designer	designer	NOUN
cblr-13858	2409	33	footwear	footwear	NOUN
cblr-13858	2409	34	and	and	CCONJ
cblr-13858	2409	35	high	high	ADJ
cblr-13858	2409	36	-	-	PUNCT
cblr-13858	2409	37	definition	definition	NOUN
cblr-13858	2409	38	televisions	television	NOUN
cblr-13858	2409	39	.	.	PUNCT
cblr-13858	2409	40	"	"	PUNCT
cblr-13858	2410	1	pope	pope	NOUN
cblr-13858	2410	2	,	,	PUNCT
cblr-13858	2410	3	supra	supra	PROPN
cblr-13858	2410	4	note	note	PROPN
cblr-13858	2410	5	99	99	NUM
cblr-13858	2410	6	,	,	PUNCT
cblr-13858	2410	7	at	at	ADP
cblr-13858	2410	8	997	997	NUM
cblr-13858	2410	9	.	.	PUNCT
cblr-13858	2411	1	that	that	PRON
cblr-13858	2411	2	may	may	AUX
cblr-13858	2411	3	be	be	AUX
cblr-13858	2411	4	true	true	ADJ
cblr-13858	2411	5	of	of	ADP
cblr-13858	2411	6	some	some	DET
cblr-13858	2411	7	people	people	NOUN
cblr-13858	2411	8	,	,	PUNCT
cblr-13858	2411	9	but	but	CCONJ
cblr-13858	2411	10	$	$	SYM
cblr-13858	2411	11	1,000	1,000	NUM
cblr-13858	2411	12	would	would	AUX
cblr-13858	2411	13	be	be	AUX
cblr-13858	2411	14	a	a	DET
cblr-13858	2411	15	catastrophic	catastrophic	ADJ
cblr-13858	2411	16	loss	loss	NOUN
cblr-13858	2411	17	to	to	ADP
cblr-13858	2411	18	some	some	DET
cblr-13858	2411	19	investors	investor	NOUN
cblr-13858	2411	20	,	,	PUNCT
cblr-13858	2411	21	particularly	particularly	ADV
cblr-13858	2411	22	when	when	SCONJ
cblr-13858	2411	23	considered	consider	VERB
cblr-13858	2411	24	on	on	ADP
cblr-13858	2411	25	an	an	DET
cblr-13858	2411	26	annual	annual	ADJ
cblr-13858	2411	27	basis	basis	NOUN
cblr-13858	2411	28	.	.	PUNCT
cblr-13858	2412	1	652	652	NUM
cblr-13858	2412	2	see	see	VERB
cblr-13858	2412	3	supra	supra	PROPN
cblr-13858	2412	4	part	part	NOUN
cblr-13858	2412	5	v.	v.	ADP
cblr-13858	2412	6	65	65	NUM
cblr-13858	2412	7	.	.	PUNCT
cblr-13858	2413	1	heminway	heminway	NOUN
cblr-13858	2413	2	and	and	CCONJ
cblr-13858	2413	3	hoffman	hoffman	PROPN
cblr-13858	2413	4	suggest	suggest	AUX
cblr-13858	2413	5	limiting	limit	VERB
cblr-13858	2413	6	the	the	DET
cblr-13858	2413	7	cap	cap	NOUN
cblr-13858	2413	8	to	to	ADP
cblr-13858	2413	9	investors	investor	NOUN
cblr-13858	2413	10	who	who	PRON
cblr-13858	2413	11	are	be	AUX
cblr-13858	2413	12	not	not	PART
cblr-13858	2413	13	accredited	accredit	VERB
cblr-13858	2413	14	or	or	CCONJ
cblr-13858	2413	15	sophisticated	sophisticated	ADJ
cblr-13858	2413	16	,	,	PUNCT
cblr-13858	2413	17	and	and	CCONJ
cblr-13858	2413	18	allowing	allow	VERB
cblr-13858	2413	19	accredited	accredit	VERB
cblr-13858	2413	20	and	and	CCONJ
cblr-13858	2413	21	sophisticated	sophisticated	ADJ
cblr-13858	2413	22	investors	investor	NOUN
cblr-13858	2413	23	to	to	PART
cblr-13858	2413	24	invest	invest	VERB
cblr-13858	2413	25	without	without	ADP
cblr-13858	2413	26	any	any	DET
cblr-13858	2413	27	limit	limit	NOUN
cblr-13858	2413	28	.	.	PUNCT
cblr-13858	2414	1	see	see	VERB
cblr-13858	2414	2	heminway	heminway	NOUN
cblr-13858	2414	3	&	&	CCONJ
cblr-13858	2414	4	hoffman	hoffman	PROPN
cblr-13858	2414	5	,	,	PUNCT
cblr-13858	2414	6	supra	supra	PROPN
cblr-13858	2414	7	note	note	PROPN
cblr-13858	2414	8	142	142	NUM
cblr-13858	2414	9	,	,	PUNCT
cblr-13858	2414	10	at	at	ADP
cblr-13858	2414	11	953	953	NUM
cblr-13858	2414	12	.	.	PUNCT
cblr-13858	2415	1	issuers	issuer	NOUN
cblr-13858	2415	2	can	can	AUX
cblr-13858	2415	3	already	already	ADV
cblr-13858	2415	4	offer	offer	VERB
cblr-13858	2415	5	securities	security	NOUN
cblr-13858	2415	6	to	to	PART
cblr-13858	2415	7	accredited	accredit	VERB
cblr-13858	2415	8	and	and	CCONJ
cblr-13858	2415	9	sophisticated	sophisticated	ADJ
cblr-13858	2415	10	investors	investor	NOUN
cblr-13858	2415	11	using	use	VERB
cblr-13858	2415	12	rule	rule	NOUN
cblr-13858	2415	13	506	506	NUM
cblr-13858	2415	14	of	of	ADP
cblr-13858	2415	15	regulation	regulation	NOUN
cblr-13858	2415	16	d.	d.	PROPN
cblr-13858	2415	17	the	the	DET
cblr-13858	2415	18	author	author	NOUN
cblr-13858	2415	19	's	's	PART
cblr-13858	2415	20	proposal	proposal	NOUN
cblr-13858	2415	21	would	would	AUX
cblr-13858	2415	22	preclude	preclude	VERB
cblr-13858	2415	23	integration	integration	NOUN
cblr-13858	2415	24	of	of	ADP
cblr-13858	2415	25	any	any	DET
cblr-13858	2415	26	rule	rule	NOUN
cblr-13858	2415	27	506	506	NUM
cblr-13858	2415	28	offerings	offering	NOUN
cblr-13858	2415	29	with	with	ADP
cblr-13858	2415	30	offerings	offering	NOUN
cblr-13858	2415	31	pursuant	pursuant	ADJ
cblr-13858	2415	32	to	to	ADP
cblr-13858	2415	33	the	the	DET
cblr-13858	2415	34	crowdfunding	crowdfunding	NOUN
cblr-13858	2415	35	exemption	exemption	NOUN
cblr-13858	2415	36	.	.	PUNCT
cblr-13858	2416	1	see	see	VERB
cblr-13858	2416	2	infra	infra	NOUN
cblr-13858	2416	3	part	part	NOUN
cblr-13858	2416	4	vii.a.2	vii.a.2	NOUN
cblr-13858	2416	5	.	.	PUNCT
cblr-13858	2417	1	therefore	therefore	ADV
cblr-13858	2417	2	,	,	PUNCT
cblr-13858	2417	3	the	the	DET
cblr-13858	2417	4	only	only	ADJ
cblr-13858	2417	5	thing	thing	NOUN
cblr-13858	2417	6	that	that	PRON
cblr-13858	2417	7	would	would	AUX
cblr-13858	2417	8	preclude	preclude	VERB
cblr-13858	2417	9	simultaneous	simultaneous	ADJ
cblr-13858	2417	10	,	,	PUNCT
cblr-13858	2417	11	sideby	sideby	ADJ
cblr-13858	2417	12	-	-	PUNCT
cblr-13858	2417	13	side	side	NOUN
cblr-13858	2417	14	rule	rule	NOUN
cblr-13858	2417	15	506	506	NUM
cblr-13858	2417	16	and	and	CCONJ
cblr-13858	2417	17	crowdfunding	crowdfunde	VERB
cblr-13858	2417	18	exemption	exemption	NOUN
cblr-13858	2417	19	offerings	offering	NOUN
cblr-13858	2417	20	on	on	ADP
cblr-13858	2417	21	the	the	DET
cblr-13858	2417	22	same	same	ADJ
cblr-13858	2417	23	web	web	NOUN
cblr-13858	2417	24	site	site	NOUN
cblr-13858	2417	25	is	be	AUX
cblr-13858	2417	26	regulation	regulation	NOUN
cblr-13858	2417	27	d	d	NOUN
cblr-13858	2417	28	's	's	PART
cblr-13858	2417	29	general	general	ADJ
cblr-13858	2417	30	solicitation	solicitation	NOUN
cblr-13858	2417	31	restriction	restriction	NOUN
cblr-13858	2417	32	.	.	PUNCT
cblr-13858	2418	1	see	see	VERB
cblr-13858	2418	2	supra	supra	ADJ
cblr-13858	2418	3	text	text	NOUN
cblr-13858	2418	4	accompanying	accompanying	ADJ
cblr-13858	2418	5	notes	note	NOUN
cblr-13858	2418	6	225	225	NUM
cblr-13858	2418	7	-	-	SYM
cblr-13858	2418	8	27	27	NUM
cblr-13858	2418	9	.	.	PUNCT
cblr-13858	2419	1	the	the	DET
cblr-13858	2419	2	author	author	NOUN
cblr-13858	2419	3	would	would	AUX
cblr-13858	2419	4	prefer	prefer	VERB
cblr-13858	2419	5	that	that	SCONJ
cblr-13858	2419	6	the	the	DET
cblr-13858	2419	7	sec	sec	PROPN
cblr-13858	2419	8	eliminate	eliminate	VERB
cblr-13858	2419	9	the	the	DET
cblr-13858	2419	10	general	general	ADJ
cblr-13858	2419	11	solicitation	solicitation	NOUN
cblr-13858	2419	12	restrictions	restriction	NOUN
cblr-13858	2419	13	for	for	ADP
cblr-13858	2419	14	all	all	DET
cblr-13858	2419	15	rule	rule	VERB
cblr-13858	2419	16	506	506	NUM
cblr-13858	2419	17	offerings	offering	NOUN
cblr-13858	2419	18	rather	rather	ADV
cblr-13858	2419	19	than	than	ADP
cblr-13858	2419	20	carve	carve	VERB
cblr-13858	2419	21	out	out	ADP
cblr-13858	2419	22	an	an	DET
cblr-13858	2419	23	exception	exception	NOUN
cblr-13858	2419	24	in	in	ADP
cblr-13858	2419	25	the	the	DET
cblr-13858	2419	26	crowdfunding	crowdfunding	NOUN
cblr-13858	2419	27	exemption	exemption	NOUN
cblr-13858	2419	28	for	for	ADP
cblr-13858	2419	29	sales	sale	NOUN
cblr-13858	2419	30	to	to	AUX
cblr-13858	2419	31	accredited	accredited	ADJ
cblr-13858	2419	32	and	and	CCONJ
cblr-13858	2419	33	sophisticated	sophisticated	ADJ
cblr-13858	2419	34	investors	investor	NOUN
cblr-13858	2419	35	.	.	PUNCT
cblr-13858	2420	1	[	[	X
cblr-13858	2420	2	vol	vol	NOUN
cblr-13858	2420	3	.	.	PUNCT
cblr-13858	2420	4	2012130	2012130	NUM
cblr-13858	2420	5	columbia	columbia	PROPN
cblr-13858	2420	6	business	business	NOUN
cblr-13858	2420	7	la	la	PROPN
cblr-13858	2420	8	wreview	wreview	VERB
cblr-13858	2420	9	whatever	whatever	PRON
cblr-13858	2420	10	the	the	DET
cblr-13858	2420	11	limit	limit	NOUN
cblr-13858	2420	12	,	,	PUNCT
cblr-13858	2420	13	it	it	PRON
cblr-13858	2420	14	should	should	AUX
cblr-13858	2420	15	be	be	AUX
cblr-13858	2420	16	applied	apply	VERB
cblr-13858	2420	17	to	to	ADP
cblr-13858	2420	18	all	all	PRON
cblr-13858	2420	19	of	of	ADP
cblr-13858	2420	20	an	an	DET
cblr-13858	2420	21	individual	individual	NOUN
cblr-13858	2420	22	's	's	PART
cblr-13858	2420	23	crowdfunding	crowdfunding	NOUN
cblr-13858	2420	24	investments	investment	NOUN
cblr-13858	2420	25	in	in	ADP
cblr-13858	2420	26	any	any	DET
cblr-13858	2420	27	given	give	VERB
cblr-13858	2420	28	year	year	NOUN
cblr-13858	2420	29	,	,	PUNCT
cblr-13858	2420	30	not	not	PART
cblr-13858	2420	31	on	on	ADP
cblr-13858	2420	32	a	a	DET
cblr-13858	2420	33	per	per	ADP
cblr-13858	2420	34	-	-	PUNCT
cblr-13858	2420	35	offering	offering	NOUN
cblr-13858	2420	36	basis	basis	NOUN
cblr-13858	2420	37	.	.	PUNCT
cblr-13858	2421	1	otherwise	otherwise	ADV
cblr-13858	2421	2	,	,	PUNCT
cblr-13858	2421	3	an	an	DET
cblr-13858	2421	4	investor	investor	NOUN
cblr-13858	2421	5	could	could	AUX
cblr-13858	2421	6	quickly	quickly	ADV
cblr-13858	2421	7	invest	invest	VERB
cblr-13858	2421	8	more	more	ADJ
cblr-13858	2421	9	than	than	SCONJ
cblr-13858	2421	10	she	she	PRON
cblr-13858	2421	11	could	could	AUX
cblr-13858	2421	12	afford	afford	VERB
cblr-13858	2421	13	to	to	PART
cblr-13858	2421	14	lose	lose	VERB
cblr-13858	2421	15	by	by	ADP
cblr-13858	2421	16	investing	invest	VERB
cblr-13858	2421	17	the	the	DET
cblr-13858	2421	18	maximum	maximum	ADJ
cblr-13858	2421	19	amount	amount	NOUN
cblr-13858	2421	20	in	in	ADP
cblr-13858	2421	21	a	a	DET
cblr-13858	2421	22	large	large	ADJ
cblr-13858	2421	23	number	number	NOUN
cblr-13858	2421	24	of	of	ADP
cblr-13858	2421	25	offerings-$500	offerings-$500	PROPN
cblr-13858	2421	26	in	in	ADP
cblr-13858	2421	27	offering	offer	VERB
cblr-13858	2421	28	a	a	DET
cblr-13858	2421	29	,	,	PUNCT
cblr-13858	2421	30	$	$	SYM
cblr-13858	2421	31	500	500	NUM
cblr-13858	2421	32	in	in	ADP
cblr-13858	2421	33	offering	offer	VERB
cblr-13858	2421	34	b	b	PROPN
cblr-13858	2421	35	,	,	PUNCT
cblr-13858	2421	36	$	$	SYM
cblr-13858	2421	37	500	500	NUM
cblr-13858	2421	38	in	in	ADP
cblr-13858	2421	39	offering	offer	VERB
cblr-13858	2421	40	c	c	NOUN
cblr-13858	2421	41	,	,	PUNCT
cblr-13858	2421	42	and	and	CCONJ
cblr-13858	2421	43	so	so	ADV
cblr-13858	2421	44	on	on	ADV
cblr-13858	2421	45	.	.	PUNCT
cblr-13858	2422	1	an	an	DET
cblr-13858	2422	2	investment	investment	NOUN
cblr-13858	2422	3	limit	limit	NOUN
cblr-13858	2422	4	fits	fit	VERB
cblr-13858	2422	5	the	the	DET
cblr-13858	2422	6	policy	policy	NOUN
cblr-13858	2422	7	argument	argument	NOUN
cblr-13858	2422	8	only	only	ADV
cblr-13858	2422	9	if	if	SCONJ
cblr-13858	2422	10	it	it	PRON
cblr-13858	2422	11	is	be	AUX
cblr-13858	2422	12	applied	apply	VERB
cblr-13858	2422	13	on	on	ADP
cblr-13858	2422	14	an	an	DET
cblr-13858	2422	15	aggregate	aggregate	ADJ
cblr-13858	2422	16	basis	basis	NOUN
cblr-13858	2422	17	.	.	PUNCT
cblr-13858	2422	18	"	"	PUNCT
cblr-13858	2423	1	only	only	ADV
cblr-13858	2423	2	crowdfunding	crowdfunde	VERB
cblr-13858	2423	3	investments	investment	NOUN
cblr-13858	2423	4	should	should	AUX
cblr-13858	2423	5	be	be	AUX
cblr-13858	2423	6	considered	consider	VERB
cblr-13858	2423	7	in	in	ADP
cblr-13858	2423	8	applying	apply	VERB
cblr-13858	2423	9	this	this	DET
cblr-13858	2423	10	annual	annual	ADJ
cblr-13858	2423	11	cap	cap	NOUN
cblr-13858	2423	12	.	.	PUNCT
cblr-13858	2424	1	other	other	ADJ
cblr-13858	2424	2	investments	investment	NOUN
cblr-13858	2424	3	,	,	PUNCT
cblr-13858	2424	4	even	even	ADV
cblr-13858	2424	5	other	other	ADJ
cblr-13858	2424	6	securities	security	NOUN
cblr-13858	2424	7	investments	investment	NOUN
cblr-13858	2424	8	,	,	PUNCT
cblr-13858	2424	9	should	should	AUX
cblr-13858	2424	10	not	not	PART
cblr-13858	2424	11	count	count	VERB
cblr-13858	2424	12	.	.	PUNCT
cblr-13858	2425	1	people	people	NOUN
cblr-13858	2425	2	have	have	VERB
cblr-13858	2425	3	numerous	numerous	ADJ
cblr-13858	2425	4	other	other	ADJ
cblr-13858	2425	5	investments	investment	NOUN
cblr-13858	2425	6	with	with	ADP
cblr-13858	2425	7	various	various	ADJ
cblr-13858	2425	8	levels	level	NOUN
cblr-13858	2425	9	of	of	ADP
cblr-13858	2425	10	financial	financial	ADJ
cblr-13858	2425	11	risk	risk	NOUN
cblr-13858	2425	12	-	-	PUNCT
cblr-13858	2425	13	mutual	mutual	ADJ
cblr-13858	2425	14	funds	fund	NOUN
cblr-13858	2425	15	,	,	PUNCT
cblr-13858	2425	16	houses	house	NOUN
cblr-13858	2425	17	,	,	PUNCT
cblr-13858	2425	18	cars	car	NOUN
cblr-13858	2425	19	,	,	PUNCT
cblr-13858	2425	20	friends	friend	NOUN
cblr-13858	2425	21	'	'	PART
cblr-13858	2425	22	businesses	business	NOUN
cblr-13858	2425	23	.	.	PUNCT
cblr-13858	2426	1	all	all	PRON
cblr-13858	2426	2	of	of	ADP
cblr-13858	2426	3	a	a	DET
cblr-13858	2426	4	person	person	NOUN
cblr-13858	2426	5	's	's	PART
cblr-13858	2426	6	assets	asset	NOUN
cblr-13858	2426	7	and	and	CCONJ
cblr-13858	2426	8	liabilities	liability	NOUN
cblr-13858	2426	9	are	be	AUX
cblr-13858	2426	10	relevant	relevant	ADJ
cblr-13858	2426	11	in	in	ADP
cblr-13858	2426	12	assessing	assess	VERB
cblr-13858	2426	13	the	the	DET
cblr-13858	2426	14	risk	risk	NOUN
cblr-13858	2426	15	that	that	SCONJ
cblr-13858	2426	16	a	a	DET
cblr-13858	2426	17	particular	particular	ADJ
cblr-13858	2426	18	investment	investment	NOUN
cblr-13858	2426	19	adds	add	VERB
cblr-13858	2426	20	to	to	ADP
cblr-13858	2426	21	the	the	DET
cblr-13858	2426	22	person	person	NOUN
cblr-13858	2426	23	's	's	PART
cblr-13858	2426	24	portfolio	portfolio	NOUN
cblr-13858	2426	25	,	,	PUNCT
cblr-13858	2426	26	but	but	CCONJ
cblr-13858	2426	27	the	the	DET
cblr-13858	2426	28	sec	sec	PROPN
cblr-13858	2426	29	has	have	VERB
cblr-13858	2426	30	to	to	PART
cblr-13858	2426	31	draw	draw	VERB
cblr-13858	2426	32	a	a	DET
cblr-13858	2426	33	line	line	NOUN
cblr-13858	2426	34	somewhere	somewhere	ADV
cblr-13858	2426	35	.	.	PUNCT
cblr-13858	2427	1	the	the	DET
cblr-13858	2427	2	sec	sec	PROPN
cblr-13858	2427	3	is	be	AUX
cblr-13858	2427	4	not	not	PART
cblr-13858	2427	5	a	a	DET
cblr-13858	2427	6	general	general	ADJ
cblr-13858	2427	7	risk	risk	NOUN
cblr-13858	2427	8	protection	protection	NOUN
cblr-13858	2427	9	agency	agency	NOUN
cblr-13858	2427	10	,	,	PUNCT
cblr-13858	2427	11	and	and	CCONJ
cblr-13858	2427	12	going	go	VERB
cblr-13858	2427	13	outside	outside	ADP
cblr-13858	2427	14	the	the	DET
cblr-13858	2427	15	crowdfunding	crowdfunding	NOUN
cblr-13858	2427	16	exemption	exemption	NOUN
cblr-13858	2427	17	to	to	PART
cblr-13858	2427	18	calculate	calculate	VERB
cblr-13858	2427	19	the	the	DET
cblr-13858	2427	20	limit	limit	NOUN
cblr-13858	2427	21	would	would	AUX
cblr-13858	2427	22	make	make	VERB
cblr-13858	2427	23	the	the	DET
cblr-13858	2427	24	exemption	exemption	NOUN
cblr-13858	2427	25	unworkable	unworkable	ADJ
cblr-13858	2427	26	.	.	PUNCT
cblr-13858	2427	27	'	'	PUNCT
cblr-13858	2428	1	finally	finally	ADV
cblr-13858	2428	2	,	,	PUNCT
cblr-13858	2428	3	the	the	DET
cblr-13858	2428	4	limit	limit	NOUN
cblr-13858	2428	5	should	should	AUX
cblr-13858	2428	6	be	be	AUX
cblr-13858	2428	7	an	an	DET
cblr-13858	2428	8	annual	annual	ADJ
cblr-13858	2428	9	one	one	NUM
cblr-13858	2428	10	.	.	PUNCT
cblr-13858	2429	1	an	an	DET
cblr-13858	2429	2	investor	investor	NOUN
cblr-13858	2429	3	who	who	PRON
cblr-13858	2429	4	invests	invest	VERB
cblr-13858	2429	5	$	$	SYM
cblr-13858	2429	6	500	500	NUM
cblr-13858	2429	7	in	in	ADP
cblr-13858	2429	8	2012	2012	NUM
cblr-13858	2429	9	should	should	AUX
cblr-13858	2429	10	be	be	AUX
cblr-13858	2429	11	free	free	ADJ
cblr-13858	2429	12	to	to	PART
cblr-13858	2429	13	invest	invest	VERB
cblr-13858	2429	14	another	another	DET
cblr-13858	2429	15	$	$	SYM
cblr-13858	2429	16	500	500	NUM
cblr-13858	2429	17	in	in	ADP
cblr-13858	2429	18	2013	2013	NUM
cblr-13858	2429	19	,	,	PUNCT
cblr-13858	2429	20	even	even	ADV
cblr-13858	2429	21	if	if	SCONJ
cblr-13858	2429	22	she	she	PRON
cblr-13858	2429	23	still	still	ADV
cblr-13858	2429	24	holds	hold	VERB
cblr-13858	2429	25	the	the	DET
cblr-13858	2429	26	2012	2012	NUM
cblr-13858	2429	27	investment	investment	NOUN
cblr-13858	2429	28	.	.	PUNCT
cblr-13858	2430	1	the	the	DET
cblr-13858	2430	2	amount	amount	NOUN
cblr-13858	2430	3	of	of	ADP
cblr-13858	2430	4	the	the	DET
cblr-13858	2430	5	cap	cap	NOUN
cblr-13858	2430	6	obviously	obviously	ADV
cblr-13858	2430	7	should	should	AUX
cblr-13858	2430	8	be	be	AUX
cblr-13858	2430	9	lower	low	ADJ
cblr-13858	2430	10	for	for	ADP
cblr-13858	2430	11	an	an	DET
cblr-13858	2430	12	annual	annual	ADJ
cblr-13858	2430	13	limit	limit	NOUN
cblr-13858	2430	14	than	than	SCONJ
cblr-13858	2430	15	it	it	PRON
cblr-13858	2430	16	would	would	AUX
cblr-13858	2430	17	be	be	AUX
cblr-13858	2430	18	for	for	ADP
cblr-13858	2430	19	a	a	DET
cblr-13858	2430	20	cumulative	cumulative	ADJ
cblr-13858	2430	21	limit	limit	NOUN
cblr-13858	2430	22	,	,	PUNCT
cblr-13858	2430	23	but	but	CCONJ
cblr-13858	2430	24	an	an	DET
cblr-13858	2430	25	annual	annual	ADJ
cblr-13858	2430	26	limit	limit	NOUN
cblr-13858	2430	27	is	be	AUX
cblr-13858	2430	28	much	much	ADV
cblr-13858	2430	29	easier	easy	ADJ
cblr-13858	2430	30	to	to	PART
cblr-13858	2430	31	administer	administer	VERB
cblr-13858	2430	32	.	.	PUNCT
cblr-13858	2431	1	a	a	DET
cblr-13858	2431	2	cumulative	cumulative	ADJ
cblr-13858	2431	3	cap	cap	NOUN
cblr-13858	2431	4	would	would	AUX
cblr-13858	2431	5	have	have	VERB
cblr-13858	2431	6	to	to	PART
cblr-13858	2431	7	account	account	VERB
cblr-13858	2431	8	for	for	ADP
cblr-13858	2431	9	withdrawals	withdrawal	NOUN
cblr-13858	2431	10	of	of	ADP
cblr-13858	2431	11	money	money	NOUN
cblr-13858	2431	12	,	,	PUNCT
cblr-13858	2431	13	dividends	dividend	NOUN
cblr-13858	2431	14	,	,	PUNCT
cblr-13858	2431	15	and	and	CCONJ
cblr-13858	2431	16	bankruptcies	bankruptcy	NOUN
cblr-13858	2431	17	,	,	PUNCT
cblr-13858	2431	18	and	and	CCONJ
cblr-13858	2431	19	could	could	AUX
cblr-13858	2431	20	pose	pose	VERB
cblr-13858	2431	21	difficult	difficult	ADJ
cblr-13858	2431	22	computational	computational	ADJ
cblr-13858	2431	23	issues.656	issues.656	NOUN
cblr-13858	2431	24	"	"	PUNCT
cblr-13858	2431	25	the	the	DET
cblr-13858	2431	26	only	only	ADJ
cblr-13858	2431	27	proposal	proposal	NOUN
cblr-13858	2431	28	that	that	PRON
cblr-13858	2431	29	clearly	clearly	ADV
cblr-13858	2431	30	takes	take	VERB
cblr-13858	2431	31	this	this	DET
cblr-13858	2431	32	approach	approach	NOUN
cblr-13858	2431	33	is	be	AUX
cblr-13858	2431	34	senate	senate	PROPN
cblr-13858	2431	35	bill	bill	NOUN
cblr-13858	2431	36	1970	1970	NUM
cblr-13858	2431	37	.	.	PUNCT
cblr-13858	2432	1	it	it	PRON
cblr-13858	2432	2	imposes	impose	VERB
cblr-13858	2432	3	investor	investor	NOUN
cblr-13858	2432	4	limits	limit	NOUN
cblr-13858	2432	5	both	both	CCONJ
cblr-13858	2432	6	for	for	ADP
cblr-13858	2432	7	each	each	DET
cblr-13858	2432	8	offering	offering	NOUN
cblr-13858	2432	9	and	and	CCONJ
cblr-13858	2432	10	for	for	ADP
cblr-13858	2432	11	all	all	DET
cblr-13858	2432	12	offerings	offering	NOUN
cblr-13858	2432	13	collectively	collectively	ADV
cblr-13858	2432	14	.	.	PUNCT
cblr-13858	2433	1	see	see	VERB
cblr-13858	2433	2	supra	supra	PROPN
cblr-13858	2433	3	part	part	NOUN
cblr-13858	2433	4	v.	v.	ADP
cblr-13858	2433	5	655	655	NUM
cblr-13858	2433	6	see	see	VERB
cblr-13858	2433	7	also	also	ADV
cblr-13858	2433	8	supra	supra	ADJ
cblr-13858	2433	9	part	part	NOUN
cblr-13858	2433	10	vii.a.2	vii.a.2	PUNCT
cblr-13858	2433	11	(	(	PUNCT
cblr-13858	2433	12	rejecting	reject	VERB
cblr-13858	2433	13	application	application	NOUN
cblr-13858	2433	14	of	of	ADP
cblr-13858	2433	15	integration	integration	NOUN
cblr-13858	2433	16	and	and	CCONJ
cblr-13858	2433	17	aggregation	aggregation	NOUN
cblr-13858	2433	18	concepts	concept	NOUN
cblr-13858	2433	19	)	)	PUNCT
cblr-13858	2433	20	.	.	PUNCT
cblr-13858	2434	1	656	656	NUM
cblr-13858	2434	2	if	if	SCONJ
cblr-13858	2434	3	,	,	PUNCT
cblr-13858	2434	4	for	for	ADP
cblr-13858	2434	5	example	example	NOUN
cblr-13858	2434	6	,	,	PUNCT
cblr-13858	2434	7	an	an	DET
cblr-13858	2434	8	investor	investor	NOUN
cblr-13858	2434	9	loses	lose	VERB
cblr-13858	2434	10	her	her	PRON
cblr-13858	2434	11	entire	entire	ADJ
cblr-13858	2434	12	$	$	SYM
cblr-13858	2434	13	500	500	NUM
cblr-13858	2434	14	investment	investment	NOUN
cblr-13858	2434	15	,	,	PUNCT
cblr-13858	2434	16	would	would	AUX
cblr-13858	2434	17	or	or	CCONJ
cblr-13858	2434	18	should	should	AUX
cblr-13858	2434	19	she	she	PRON
cblr-13858	2434	20	be	be	AUX
cblr-13858	2434	21	forever	forever	ADV
cblr-13858	2434	22	barred	bar	VERB
cblr-13858	2434	23	from	from	ADP
cblr-13858	2434	24	again	again	ADV
cblr-13858	2434	25	investing	invest	VERB
cblr-13858	2434	26	in	in	ADP
cblr-13858	2434	27	crowdfunding	crowdfunde	VERB
cblr-13858	2434	28	?	?	PUNCT
cblr-13858	2435	1	she	she	PRON
cblr-13858	2435	2	has	have	AUX
cblr-13858	2435	3	,	,	PUNCT
cblr-13858	2435	4	after	after	ADV
cblr-13858	2435	5	all	all	ADV
cblr-13858	2435	6	,	,	PUNCT
cblr-13858	2435	7	lost	lose	VERB
cblr-13858	2435	8	the	the	DET
cblr-13858	2435	9	total	total	ADJ
cblr-13858	2435	10	amount	amount	NOUN
cblr-13858	2435	11	it	it	PRON
cblr-13858	2435	12	was	be	AUX
cblr-13858	2435	13	determined	determined	ADJ
cblr-13858	2435	14	she	she	PRON
cblr-13858	2435	15	could	could	AUX
cblr-13858	2435	16	afford	afford	VERB
cblr-13858	2435	17	to	to	PART
cblr-13858	2435	18	lose	lose	VERB
cblr-13858	2435	19	.	.	PUNCT
cblr-13858	2436	1	one	one	PRON
cblr-13858	2436	2	might	might	AUX
cblr-13858	2436	3	want	want	VERB
cblr-13858	2436	4	to	to	PART
cblr-13858	2436	5	bar	bar	VERB
cblr-13858	2436	6	her	she	PRON
cblr-13858	2436	7	on	on	ADP
cblr-13858	2436	8	the	the	DET
cblr-13858	2436	9	theory	theory	NOUN
cblr-13858	2436	10	that	that	SCONJ
cblr-13858	2436	11	she	she	PRON
cblr-13858	2436	12	is	be	AUX
cblr-13858	2436	13	a	a	DET
cblr-13858	2436	14	bad	bad	ADJ
cblr-13858	2436	15	investor	investor	NOUN
cblr-13858	2436	16	,	,	PUNCT
cblr-13858	2436	17	but	but	CCONJ
cblr-13858	2436	18	given	give	VERB
cblr-13858	2436	19	the	the	DET
cblr-13858	2436	20	high	high	ADJ
cblr-13858	2436	21	percentage	percentage	NOUN
cblr-13858	2436	22	of	of	ADP
cblr-13858	2436	23	startup	startup	NOUN
cblr-13858	2436	24	failures	failure	NOUN
cblr-13858	2436	25	,	,	PUNCT
cblr-13858	2436	26	a	a	DET
cblr-13858	2436	27	total	total	ADJ
cblr-13858	2436	28	loss	loss	NOUN
cblr-13858	2436	29	does	do	AUX
cblr-13858	2436	30	not	not	PART
cblr-13858	2436	31	necessarily	necessarily	ADV
cblr-13858	2436	32	reflect	reflect	VERB
cblr-13858	2436	33	negatively	negatively	ADV
cblr-13858	2436	34	on	on	ADP
cblr-13858	2436	35	that	that	DET
cblr-13858	2436	36	person	person	NOUN
cblr-13858	2436	37	's	's	PART
cblr-13858	2436	38	capabilities	capability	NOUN
cblr-13858	2436	39	as	as	ADP
cblr-13858	2436	40	an	an	DET
cblr-13858	2436	41	investor	investor	NOUN
cblr-13858	2436	42	.	.	PUNCT
cblr-13858	2437	1	no	no	INTJ
cblr-13858	2437	2	.	.	NOUN
cblr-13858	2438	1	1	1	NUM
cblr-13858	2438	2	:	:	SYM
cblr-13858	2438	3	1	1	NUM
cblr-13858	2438	4	]	]	PUNCT
cblr-13858	2438	5	cro	cro	NOUN
cblr-13858	2438	6	wdfunding	wdfunding	NOUN
cblr-13858	2438	7	and	and	CCONJ
cblr-13858	2438	8	securities	security	NOUN
cblr-13858	2438	9	laws	law	NOUN
cblr-13858	2438	10	131	131	NUM
cblr-13858	2438	11	132	132	NUM
cblr-13858	2438	12	columbia	columbia	PROPN
cblr-13858	2438	13	business	business	PROPN
cblr-13858	2438	14	la	la	PROPN
cblr-13858	2438	15	w	w	PROPN
cblr-13858	2438	16	re	re	VERB
cblr-13858	2438	17	view	view	NOUN
cblr-13858	2438	18	[	[	X
cblr-13858	2438	19	vol	vol	NOUN
cblr-13858	2438	20	.	.	PUNCT
cblr-13858	2438	21	2012	2012	NUM
cblr-13858	2438	22	4	4	NUM
cblr-13858	2438	23	.	.	PUNCT
cblr-13858	2439	1	should	should	AUX
cblr-13858	2439	2	there	there	PRON
cblr-13858	2439	3	be	be	AUX
cblr-13858	2439	4	company	company	NOUN
cblr-13858	2439	5	size	size	NOUN
cblr-13858	2439	6	limits	limit	NOUN
cblr-13858	2439	7	?	?	PUNCT
cblr-13858	2440	1	the	the	DET
cblr-13858	2440	2	proposed	propose	VERB
cblr-13858	2440	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2440	4	exemption	exemption	NOUN
cblr-13858	2440	5	is	be	AUX
cblr-13858	2440	6	designed	design	VERB
cblr-13858	2440	7	to	to	PART
cblr-13858	2440	8	help	help	VERB
cblr-13858	2440	9	very	very	ADV
cblr-13858	2440	10	small	small	ADJ
cblr-13858	2440	11	businesses	business	NOUN
cblr-13858	2440	12	raise	raise	VERB
cblr-13858	2440	13	capital	capital	NOUN
cblr-13858	2440	14	.	.	PUNCT
cblr-13858	2441	1	should	should	AUX
cblr-13858	2441	2	larger	large	ADJ
cblr-13858	2441	3	businesses	business	NOUN
cblr-13858	2441	4	therefore	therefore	ADV
cblr-13858	2441	5	be	be	AUX
cblr-13858	2441	6	excluded	exclude	VERB
cblr-13858	2441	7	from	from	ADP
cblr-13858	2441	8	using	use	VERB
cblr-13858	2441	9	it	it	PRON
cblr-13858	2441	10	?	?	PUNCT
cblr-13858	2442	1	the	the	DET
cblr-13858	2442	2	sec	sec	PROPN
cblr-13858	2442	3	already	already	ADV
cblr-13858	2442	4	limits	limit	VERB
cblr-13858	2442	5	the	the	DET
cblr-13858	2442	6	use	use	NOUN
cblr-13858	2442	7	of	of	ADP
cblr-13858	2442	8	the	the	DET
cblr-13858	2442	9	regulation	regulation	NOUN
cblr-13858	2442	10	a	a	PRON
cblr-13858	2442	11	and	and	CCONJ
cblr-13858	2442	12	rule	rule	VERB
cblr-13858	2442	13	504	504	NUM
cblr-13858	2442	14	exemptions	exemption	NOUN
cblr-13858	2442	15	to	to	ADP
cblr-13858	2442	16	non	non	ADJ
cblr-13858	2442	17	-	-	ADJ
cblr-13858	2442	18	reporting	reporting	ADJ
cblr-13858	2442	19	companies	company	NOUN
cblr-13858	2442	20	.	.	PUNCT
cblr-13858	2443	1	"	"	PUNCT
cblr-13858	2443	2	'	'	PUNCT
cblr-13858	2443	3	heminway	heminway	NOUN
cblr-13858	2443	4	and	and	CCONJ
cblr-13858	2443	5	hoffman	hoffman	NOUN
cblr-13858	2443	6	suggest	suggest	VERB
cblr-13858	2443	7	that	that	SCONJ
cblr-13858	2443	8	any	any	DET
cblr-13858	2443	9	crowdfunding	crowdfunding	NOUN
cblr-13858	2443	10	exemption	exemption	NOUN
cblr-13858	2443	11	should	should	AUX
cblr-13858	2443	12	be	be	AUX
cblr-13858	2443	13	similarly	similarly	ADV
cblr-13858	2443	14	limited	limit	VERB
cblr-13858	2443	15	.	.	PUNCT
cblr-13858	2444	1	"	"	PUNCT
cblr-13858	2444	2	'	'	PUNCT
cblr-13858	2444	3	however	however	ADV
cblr-13858	2444	4	,	,	PUNCT
cblr-13858	2444	5	the	the	DET
cblr-13858	2444	6	justification	justification	NOUN
cblr-13858	2444	7	for	for	ADP
cblr-13858	2444	8	small	small	ADJ
cblr-13858	2444	9	offering	offering	NOUN
cblr-13858	2444	10	exemptions	exemption	NOUN
cblr-13858	2444	11	depends	depend	VERB
cblr-13858	2444	12	on	on	ADP
cblr-13858	2444	13	the	the	DET
cblr-13858	2444	14	size	size	NOUN
cblr-13858	2444	15	of	of	ADP
cblr-13858	2444	16	the	the	DET
cblr-13858	2444	17	offering	offering	NOUN
cblr-13858	2444	18	,	,	PUNCT
cblr-13858	2444	19	not	not	PART
cblr-13858	2444	20	on	on	ADP
cblr-13858	2444	21	the	the	DET
cblr-13858	2444	22	size	size	NOUN
cblr-13858	2444	23	of	of	ADP
cblr-13858	2444	24	the	the	DET
cblr-13858	2444	25	company	company	NOUN
cblr-13858	2444	26	making	make	VERB
cblr-13858	2444	27	the	the	DET
cblr-13858	2444	28	offering	offering	NOUN
cblr-13858	2444	29	.	.	PUNCT
cblr-13858	2444	30	'	'	PUNCT
cblr-13858	2445	1	there	there	PRON
cblr-13858	2445	2	is	be	VERB
cblr-13858	2445	3	no	no	DET
cblr-13858	2445	4	reason	reason	NOUN
cblr-13858	2445	5	to	to	PART
cblr-13858	2445	6	prevent	prevent	VERB
cblr-13858	2445	7	larger	large	ADJ
cblr-13858	2445	8	companies	company	NOUN
cblr-13858	2445	9	from	from	ADP
cblr-13858	2445	10	using	use	VERB
cblr-13858	2445	11	the	the	DET
cblr-13858	2445	12	exemption	exemption	NOUN
cblr-13858	2445	13	,	,	PUNCT
cblr-13858	2445	14	but	but	CCONJ
cblr-13858	2445	15	such	such	DET
cblr-13858	2445	16	a	a	DET
cblr-13858	2445	17	limit	limit	NOUN
cblr-13858	2445	18	,	,	PUNCT
cblr-13858	2445	19	if	if	SCONJ
cblr-13858	2445	20	imposed	impose	VERB
cblr-13858	2445	21	,	,	PUNCT
cblr-13858	2445	22	would	would	AUX
cblr-13858	2445	23	be	be	AUX
cblr-13858	2445	24	relatively	relatively	ADV
cblr-13858	2445	25	easy	easy	ADJ
cblr-13858	2445	26	to	to	PART
cblr-13858	2445	27	administer	administer	VERB
cblr-13858	2445	28	and	and	CCONJ
cblr-13858	2445	29	would	would	AUX
cblr-13858	2445	30	have	have	VERB
cblr-13858	2445	31	no	no	DET
cblr-13858	2445	32	dramatic	dramatic	ADJ
cblr-13858	2445	33	effect	effect	NOUN
cblr-13858	2445	34	on	on	ADP
cblr-13858	2445	35	the	the	DET
cblr-13858	2445	36	use	use	NOUN
cblr-13858	2445	37	of	of	ADP
cblr-13858	2445	38	the	the	DET
cblr-13858	2445	39	crowdfunding	crowdfunding	NOUN
cblr-13858	2445	40	exemption.66	exemption.66	X
cblr-13858	2445	41	0	0	PUNCT
cblr-13858	2445	42	larger	large	ADJ
cblr-13858	2445	43	businesses	business	NOUN
cblr-13858	2445	44	are	be	AUX
cblr-13858	2445	45	unlikely	unlikely	ADJ
cblr-13858	2445	46	to	to	PART
cblr-13858	2445	47	use	use	VERB
cblr-13858	2445	48	the	the	DET
cblr-13858	2445	49	exemption	exemption	NOUN
cblr-13858	2445	50	even	even	ADV
cblr-13858	2445	51	if	if	SCONJ
cblr-13858	2445	52	they	they	PRON
cblr-13858	2445	53	are	be	AUX
cblr-13858	2445	54	allowed	allow	VERB
cblr-13858	2445	55	to	to	PART
cblr-13858	2445	56	.	.	PUNCT
cblr-13858	2446	1	most	most	ADJ
cblr-13858	2446	2	large	large	ADJ
cblr-13858	2446	3	businesses	business	NOUN
cblr-13858	2446	4	are	be	AUX
cblr-13858	2446	5	unlikely	unlikely	ADJ
cblr-13858	2446	6	to	to	PART
cblr-13858	2446	7	seek	seek	VERB
cblr-13858	2446	8	external	external	ADJ
cblr-13858	2446	9	funding	funding	NOUN
cblr-13858	2446	10	for	for	ADP
cblr-13858	2446	11	such	such	ADJ
cblr-13858	2446	12	small	small	ADJ
cblr-13858	2446	13	amounts	amount	NOUN
cblr-13858	2446	14	,	,	PUNCT
cblr-13858	2446	15	particularly	particularly	ADV
cblr-13858	2446	16	given	give	VERB
cblr-13858	2446	17	the	the	DET
cblr-13858	2446	18	cost	cost	NOUN
cblr-13858	2446	19	of	of	ADP
cblr-13858	2446	20	raising	raise	VERB
cblr-13858	2446	21	money	money	NOUN
cblr-13858	2446	22	through	through	ADP
cblr-13858	2446	23	investments	investment	NOUN
cblr-13858	2446	24	of	of	ADP
cblr-13858	2446	25	$	$	SYM
cblr-13858	2446	26	500	500	NUM
cblr-13858	2446	27	or	or	CCONJ
cblr-13858	2446	28	less	less	ADJ
cblr-13858	2446	29	.	.	PUNCT
cblr-13858	2447	1	big	big	ADJ
cblr-13858	2447	2	companies	company	NOUN
cblr-13858	2447	3	usually	usually	ADV
cblr-13858	2447	4	have	have	VERB
cblr-13858	2447	5	enough	enough	ADJ
cblr-13858	2447	6	cash	cash	NOUN
cblr-13858	2447	7	to	to	PART
cblr-13858	2447	8	meet	meet	VERB
cblr-13858	2447	9	small	small	ADJ
cblr-13858	2447	10	funding	funding	NOUN
cblr-13858	2447	11	requirements	requirement	NOUN
cblr-13858	2447	12	internally	internally	ADV
cblr-13858	2447	13	.	.	PUNCT
cblr-13858	2448	1	apple	apple	NOUN
cblr-13858	2448	2	computer	computer	NOUN
cblr-13858	2448	3	,	,	PUNCT
cblr-13858	2448	4	for	for	ADP
cblr-13858	2448	5	instance	instance	NOUN
cblr-13858	2448	6	,	,	PUNCT
cblr-13858	2448	7	had	have	VERB
cblr-13858	2448	8	$	$	SYM
cblr-13858	2448	9	11.2	11.2	NUM
cblr-13858	2448	10	billion	billion	NUM
cblr-13858	2448	11	in	in	ADP
cblr-13858	2448	12	cash	cash	NOUN
cblr-13858	2448	13	and	and	CCONJ
cblr-13858	2448	14	cash	cash	NOUN
cblr-13858	2448	15	equivalents	equivalent	NOUN
cblr-13858	2448	16	at	at	ADP
cblr-13858	2448	17	the	the	DET
cblr-13858	2448	18	end	end	NOUN
cblr-13858	2448	19	of	of	ADP
cblr-13858	2448	20	its	its	PRON
cblr-13858	2448	21	2010	2010	NUM
cblr-13858	2448	22	fiscal	fiscal	ADJ
cblr-13858	2448	23	year.6	year.6	NOUN
cblr-13858	2448	24	"	"	PUNCT
cblr-13858	2448	25	the	the	DET
cblr-13858	2448	26	buckle	buckle	NOUN
cblr-13858	2448	27	,	,	PUNCT
cblr-13858	2448	28	inc	inc	PROPN
cblr-13858	2448	29	.	.	PROPN
cblr-13858	2448	30	,	,	PUNCT
cblr-13858	2448	31	a	a	DET
cblr-13858	2448	32	much	much	ADV
cblr-13858	2448	33	smaller	small	ADJ
cblr-13858	2448	34	company	company	NOUN
cblr-13858	2448	35	,	,	PUNCT
cblr-13858	2448	36	reported	report	VERB
cblr-13858	2448	37	over	over	ADP
cblr-13858	2448	38	$	$	SYM
cblr-13858	2448	39	116	116	NUM
cblr-13858	2448	40	million	million	NUM
cblr-13858	2448	41	in	in	ADP
cblr-13858	2448	42	cash	cash	NOUN
cblr-13858	2448	43	and	and	CCONJ
cblr-13858	2448	44	cash	cash	NOUN
cblr-13858	2448	45	equivalents	equivalent	NOUN
cblr-13858	2448	46	at	at	ADP
cblr-13858	2448	47	the	the	DET
cblr-13858	2448	48	end	end	NOUN
cblr-13858	2448	49	of	of	ADP
cblr-13858	2448	50	its	its	PRON
cblr-13858	2448	51	most	most	ADV
cblr-13858	2448	52	recent	recent	ADJ
cblr-13858	2448	53	fiscal	fiscal	ADJ
cblr-13858	2448	54	year.662	year.662	NOUN
cblr-13858	2448	55	6	6	NUM
cblr-13858	2448	56	..	..	PUNCT
cblr-13858	2448	57	see	see	VERB
cblr-13858	2448	58	securities	security	NOUN
cblr-13858	2448	59	act	act	PROPN
cblr-13858	2448	60	rule	rule	VERB
cblr-13858	2448	61	251(a)(2	251(a)(2	NOUN
cblr-13858	2448	62	)	)	PUNCT
cblr-13858	2448	63	,	,	PUNCT
cblr-13858	2448	64	17	17	NUM
cblr-13858	2448	65	c.f.r	c.f.r	NOUN
cblr-13858	2448	66	.	.	PUNCT
cblr-13858	2449	1	§	§	PROPN
cblr-13858	2449	2	§	§	PROPN
cblr-13858	2449	3	230.251(a)(2	230.251(a)(2	NUM
cblr-13858	2449	4	)	)	PUNCT
cblr-13858	2449	5	,	,	PUNCT
cblr-13858	2449	6	230.504(a)(2	230.504(a)(2	NUM
cblr-13858	2449	7	)	)	PUNCT
cblr-13858	2449	8	(	(	PUNCT
cblr-13858	2449	9	2012	2012	NUM
cblr-13858	2449	10	)	)	PUNCT
cblr-13858	2449	11	.	.	PUNCT
cblr-13858	2450	1	.5	.5	NUM
cblr-13858	2450	2	.	.	PUNCT
cblr-13858	2451	1	see	see	VERB
cblr-13858	2451	2	heminway	heminway	NOUN
cblr-13858	2451	3	&	&	CCONJ
cblr-13858	2451	4	hoffman	hoffman	PROPN
cblr-13858	2451	5	,	,	PUNCT
cblr-13858	2451	6	supra	supra	PROPN
cblr-13858	2451	7	note	note	PROPN
cblr-13858	2451	8	142	142	NUM
cblr-13858	2451	9	,	,	PUNCT
cblr-13858	2451	10	at	at	ADP
cblr-13858	2451	11	948	948	NUM
cblr-13858	2451	12	.	.	PUNCT
cblr-13858	2452	1	they	they	PRON
cblr-13858	2452	2	also	also	ADV
cblr-13858	2452	3	propose	propose	VERB
cblr-13858	2452	4	to	to	PART
cblr-13858	2452	5	exclude	exclude	VERB
cblr-13858	2452	6	foreign	foreign	ADJ
cblr-13858	2452	7	issuers	issuer	NOUN
cblr-13858	2452	8	and	and	CCONJ
cblr-13858	2452	9	investment	investment	NOUN
cblr-13858	2452	10	companies	company	NOUN
cblr-13858	2452	11	.	.	PUNCT
cblr-13858	2453	1	i	i	PRON
cblr-13858	2453	2	d.	d.	PROPN
cblr-13858	2453	3	659	659	NUM
cblr-13858	2453	4	see	see	VERB
cblr-13858	2453	5	supra	supra	ADJ
cblr-13858	2453	6	text	text	NOUN
cblr-13858	2453	7	accompanying	accompany	VERB
cblr-13858	2453	8	notes	note	NOUN
cblr-13858	2453	9	592	592	NUM
cblr-13858	2453	10	-	-	SYM
cblr-13858	2453	11	95	95	NUM
cblr-13858	2453	12	.	.	PUNCT
cblr-13858	2453	13	'	'	PUNCT
cblr-13858	2454	1	if	if	SCONJ
cblr-13858	2454	2	,	,	PUNCT
cblr-13858	2454	3	however	however	ADV
cblr-13858	2454	4	,	,	PUNCT
cblr-13858	2454	5	the	the	DET
cblr-13858	2454	6	rule	rule	NOUN
cblr-13858	2454	7	's	's	PART
cblr-13858	2454	8	exception	exception	NOUN
cblr-13858	2454	9	is	be	AUX
cblr-13858	2454	10	expressed	express	VERB
cblr-13858	2454	11	in	in	ADP
cblr-13858	2454	12	terms	term	NOUN
cblr-13858	2454	13	of	of	ADP
cblr-13858	2454	14	a	a	DET
cblr-13858	2454	15	company	company	NOUN
cblr-13858	2454	16	's	's	PART
cblr-13858	2454	17	total	total	ADJ
cblr-13858	2454	18	or	or	CCONJ
cblr-13858	2454	19	net	net	ADJ
cblr-13858	2454	20	assets	asset	NOUN
cblr-13858	2454	21	,	,	PUNCT
cblr-13858	2454	22	crowdfunding	crowdfunding	NOUN
cblr-13858	2454	23	sites	site	NOUN
cblr-13858	2454	24	would	would	AUX
cblr-13858	2454	25	have	have	VERB
cblr-13858	2454	26	to	to	PART
cblr-13858	2454	27	review	review	VERB
cblr-13858	2454	28	documentation	documentation	NOUN
cblr-13858	2454	29	from	from	ADP
cblr-13858	2454	30	each	each	DET
cblr-13858	2454	31	issuer	issuer	NOUN
cblr-13858	2454	32	to	to	PART
cblr-13858	2454	33	verify	verify	VERB
cblr-13858	2454	34	that	that	SCONJ
cblr-13858	2454	35	it	it	PRON
cblr-13858	2454	36	does	do	AUX
cblr-13858	2454	37	not	not	PART
cblr-13858	2454	38	exceed	exceed	VERB
cblr-13858	2454	39	the	the	DET
cblr-13858	2454	40	cap	cap	NOUN
cblr-13858	2454	41	.	.	PUNCT
cblr-13858	2455	1	the	the	DET
cblr-13858	2455	2	cost	cost	NOUN
cblr-13858	2455	3	of	of	ADP
cblr-13858	2455	4	administering	administer	VERB
cblr-13858	2455	5	the	the	DET
cblr-13858	2455	6	restriction	restriction	NOUN
cblr-13858	2455	7	would	would	AUX
cblr-13858	2455	8	be	be	AUX
cblr-13858	2455	9	higher	high	ADJ
cblr-13858	2455	10	.	.	PUNCT
cblr-13858	2456	1	6	6	NUM
cblr-13858	2456	2	apple	apple	PROPN
cblr-13858	2456	3	inc	inc	PROPN
cblr-13858	2456	4	.	.	PROPN
cblr-13858	2456	5	,	,	PUNCT
cblr-13858	2456	6	annual	annual	ADJ
cblr-13858	2456	7	report	report	NOUN
cblr-13858	2456	8	(	(	PUNCT
cblr-13858	2456	9	form	form	NOUN
cblr-13858	2456	10	10	10	NUM
cblr-13858	2456	11	-	-	PUNCT
cblr-13858	2456	12	k	k	NOUN
cblr-13858	2456	13	)	)	PUNCT
cblr-13858	2456	14	,	,	PUNCT
cblr-13858	2456	15	at	at	ADP
cblr-13858	2456	16	47	47	NUM
cblr-13858	2456	17	(	(	PUNCT
cblr-13858	2456	18	oct	oct	PROPN
cblr-13858	2456	19	.	.	PROPN
cblr-13858	2456	20	27	27	NUM
cblr-13858	2456	21	,	,	PUNCT
cblr-13858	2456	22	2010	2010	NUM
cblr-13858	2456	23	)	)	PUNCT
cblr-13858	2456	24	,	,	PUNCT
cblr-13858	2456	25	available	available	ADJ
cblr-13858	2456	26	at	at	ADP
cblr-13858	2456	27	http://www.sec.gov/archives/edgar/data/320193/00011931251	http://www.sec.gov/archives/edgar/data/320193/00011931251	PROPN
cblr-13858	2456	28	0238044	0238044	NUM
cblr-13858	2456	29	/	/	SYM
cblr-13858	2456	30	d10k.htm#tx37397_2	d10k.htm#tx37397_2	NUM
cblr-13858	2456	31	.	.	NOUN
cblr-13858	2456	32	6	6	NUM
cblr-13858	2456	33	the	the	DET
cblr-13858	2456	34	buckle	buckle	NOUN
cblr-13858	2456	35	,	,	PUNCT
cblr-13858	2456	36	inc	inc	PROPN
cblr-13858	2456	37	.	.	PROPN
cblr-13858	2456	38	,	,	PUNCT
cblr-13858	2456	39	annual	annual	ADJ
cblr-13858	2456	40	report	report	NOUN
cblr-13858	2456	41	(	(	PUNCT
cblr-13858	2456	42	form	form	NOUN
cblr-13858	2456	43	10	10	NUM
cblr-13858	2456	44	-	-	PUNCT
cblr-13858	2456	45	k	k	NOUN
cblr-13858	2456	46	)	)	PUNCT
cblr-13858	2456	47	,	,	PUNCT
cblr-13858	2456	48	at	at	ADP
cblr-13858	2456	49	31	31	NUM
cblr-13858	2456	50	(	(	PUNCT
cblr-13858	2456	51	mar	mar	PROPN
cblr-13858	2456	52	.	.	PROPN
cblr-13858	2456	53	30	30	NUM
cblr-13858	2456	54	,	,	PUNCT
cblr-13858	2456	55	2011	2011	NUM
cblr-13858	2456	56	)	)	PUNCT
cblr-13858	2456	57	,	,	PUNCT
cblr-13858	2456	58	available	available	ADJ
cblr-13858	2456	59	at	at	ADP
cblr-13858	2456	60	http://www.sec.gov/archives/edgar/data/885245/000115	http://www.sec.gov/archives/edgar/data/885245/000115	NOUN
cblr-13858	2456	61	752311001807	752311001807	NUM
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cblr-13858	2456	63	a6663779.htm#statements	a6663779.htm#statement	NOUN
cblr-13858	2456	64	.	.	PUNCT
cblr-13858	2457	1	these	these	DET
cblr-13858	2457	2	companies	company	NOUN
cblr-13858	2457	3	are	be	AUX
cblr-13858	2457	4	not	not	PART
cblr-13858	2457	5	going	go	VERB
cblr-13858	2457	6	to	to	PART
cblr-13858	2457	7	be	be	AUX
cblr-13858	2457	8	using	use	VERB
cblr-13858	2457	9	a	a	DET
cblr-13858	2457	10	crowdfunding	crowdfunding	NOUN
cblr-13858	2457	11	exemption	exemption	NOUN
cblr-13858	2457	12	.	.	PUNCT
cblr-13858	2458	1	larger	large	ADJ
cblr-13858	2458	2	non	non	ADJ
cblr-13858	2458	3	-	-	ADJ
cblr-13858	2458	4	reporting	reporting	ADJ
cblr-13858	2458	5	companies	company	NOUN
cblr-13858	2458	6	have	have	VERB
cblr-13858	2458	7	another	another	DET
cblr-13858	2458	8	reason	reason	NOUN
cblr-13858	2458	9	to	to	PART
cblr-13858	2458	10	avoid	avoid	VERB
cblr-13858	2458	11	the	the	DET
cblr-13858	2458	12	crowdfunding	crowdfunding	NOUN
cblr-13858	2458	13	exemption	exemption	NOUN
cblr-13858	2458	14	.	.	PUNCT
cblr-13858	2459	1	companies	company	NOUN
cblr-13858	2459	2	in	in	ADP
cblr-13858	2459	3	the	the	DET
cblr-13858	2459	4	united	united	PROPN
cblr-13858	2459	5	states	states	PROPN
cblr-13858	2459	6	with	with	ADP
cblr-13858	2459	7	more	more	ADJ
cblr-13858	2459	8	than	than	ADP
cblr-13858	2459	9	$	$	SYM
cblr-13858	2459	10	10	10	NUM
cblr-13858	2459	11	million	million	NUM
cblr-13858	2459	12	in	in	ADP
cblr-13858	2459	13	total	total	ADJ
cblr-13858	2459	14	assets	asset	NOUN
cblr-13858	2459	15	and	and	CCONJ
cblr-13858	2459	16	a	a	DET
cblr-13858	2459	17	class	class	NOUN
cblr-13858	2459	18	of	of	ADP
cblr-13858	2459	19	equity	equity	NOUN
cblr-13858	2459	20	security	security	NOUN
cblr-13858	2459	21	held	hold	VERB
cblr-13858	2459	22	of	of	ADP
cblr-13858	2459	23	record	record	NOUN
cblr-13858	2459	24	by	by	ADP
cblr-13858	2459	25	500	500	NUM
cblr-13858	2459	26	or	or	CCONJ
cblr-13858	2459	27	more	more	ADJ
cblr-13858	2459	28	people	people	NOUN
cblr-13858	2459	29	must	must	AUX
cblr-13858	2459	30	register	register	VERB
cblr-13858	2459	31	with	with	ADP
cblr-13858	2459	32	the	the	DET
cblr-13858	2459	33	sec	sec	PROPN
cblr-13858	2459	34	under	under	ADP
cblr-13858	2459	35	the	the	DET
cblr-13858	2459	36	exchange	exchange	NOUN
cblr-13858	2459	37	act	act	PROPN
cblr-13858	2459	38	.	.	PUNCT
cblr-13858	2460	1	'6	'6	X
cblr-13858	2460	2	selling	sell	VERB
cblr-13858	2460	3	equity	equity	NOUN
cblr-13858	2460	4	to	to	ADP
cblr-13858	2460	5	a	a	DET
cblr-13858	2460	6	large	large	ADJ
cblr-13858	2460	7	number	number	NOUN
cblr-13858	2460	8	of	of	ADP
cblr-13858	2460	9	investors	investor	NOUN
cblr-13858	2460	10	in	in	ADP
cblr-13858	2460	11	small	small	ADJ
cblr-13858	2460	12	amounts	amount	NOUN
cblr-13858	2460	13	would	would	AUX
cblr-13858	2460	14	increase	increase	VERB
cblr-13858	2460	15	the	the	DET
cblr-13858	2460	16	number	number	NOUN
cblr-13858	2460	17	of	of	ADP
cblr-13858	2460	18	equity	equity	NOUN
cblr-13858	2460	19	holders	holder	NOUN
cblr-13858	2460	20	and	and	CCONJ
cblr-13858	2460	21	could	could	AUX
cblr-13858	2460	22	trigger	trigger	VERB
cblr-13858	2460	23	exchange	exchange	NOUN
cblr-13858	2460	24	act	act	NOUN
cblr-13858	2460	25	reporting	reporting	NOUN
cblr-13858	2460	26	requirements	requirement	NOUN
cblr-13858	2460	27	.	.	PUNCT
cblr-13858	2461	1	b.	b.	PROPN
cblr-13858	2461	2	restrictions	restriction	NOUN
cblr-13858	2461	3	on	on	ADP
cblr-13858	2461	4	crowdfunding	crowdfunde	VERB
cblr-13858	2461	5	sites	site	NOUN
cblr-13858	2461	6	offerings	offering	NOUN
cblr-13858	2461	7	that	that	PRON
cblr-13858	2461	8	fall	fall	VERB
cblr-13858	2461	9	within	within	ADP
cblr-13858	2461	10	the	the	DET
cblr-13858	2461	11	limitations	limitation	NOUN
cblr-13858	2461	12	discussed	discuss	VERB
cblr-13858	2461	13	above	above	ADV
cblr-13858	2461	14	should	should	AUX
cblr-13858	2461	15	be	be	AUX
cblr-13858	2461	16	exempted	exempt	VERB
cblr-13858	2461	17	only	only	ADV
cblr-13858	2461	18	if	if	SCONJ
cblr-13858	2461	19	they	they	PRON
cblr-13858	2461	20	are	be	AUX
cblr-13858	2461	21	sold	sell	VERB
cblr-13858	2461	22	through	through	ADP
cblr-13858	2461	23	crowdfunding	crowdfunding	NOUN
cblr-13858	2461	24	sites	site	NOUN
cblr-13858	2461	25	that	that	PRON
cblr-13858	2461	26	meet	meet	VERB
cblr-13858	2461	27	standards	standard	NOUN
cblr-13858	2461	28	designed	design	VERB
cblr-13858	2461	29	to	to	PART
cblr-13858	2461	30	protect	protect	VERB
cblr-13858	2461	31	investors	investor	NOUN
cblr-13858	2461	32	.	.	PUNCT
cblr-13858	2462	1	crowdfunding	crowdfunde	VERB
cblr-13858	2462	2	sites	site	NOUN
cblr-13858	2462	3	should	should	AUX
cblr-13858	2462	4	be	be	AUX
cblr-13858	2462	5	open	open	ADJ
cblr-13858	2462	6	to	to	ADP
cblr-13858	2462	7	the	the	DET
cblr-13858	2462	8	general	general	ADJ
cblr-13858	2462	9	public	public	NOUN
cblr-13858	2462	10	and	and	CCONJ
cblr-13858	2462	11	should	should	AUX
cblr-13858	2462	12	provide	provide	VERB
cblr-13858	2462	13	publicly	publicly	ADV
cblr-13858	2462	14	accessible	accessible	ADJ
cblr-13858	2462	15	communications	communication	NOUN
cblr-13858	2462	16	portals	portal	NOUN
cblr-13858	2462	17	that	that	PRON
cblr-13858	2462	18	allow	allow	VERB
cblr-13858	2462	19	potential	potential	ADJ
cblr-13858	2462	20	investors	investor	NOUN
cblr-13858	2462	21	to	to	PART
cblr-13858	2462	22	communicate	communicate	VERB
cblr-13858	2462	23	about	about	ADP
cblr-13858	2462	24	each	each	DET
cblr-13858	2462	25	offering	offering	NOUN
cblr-13858	2462	26	.	.	PUNCT
cblr-13858	2463	1	investors	investor	NOUN
cblr-13858	2463	2	should	should	AUX
cblr-13858	2463	3	be	be	AUX
cblr-13858	2463	4	allowed	allow	VERB
cblr-13858	2463	5	to	to	PART
cblr-13858	2463	6	invest	invest	VERB
cblr-13858	2463	7	on	on	ADP
cblr-13858	2463	8	those	those	DET
cblr-13858	2463	9	sites	site	NOUN
cblr-13858	2463	10	only	only	ADV
cblr-13858	2463	11	after	after	ADP
cblr-13858	2463	12	viewing	view	VERB
cblr-13858	2463	13	a	a	DET
cblr-13858	2463	14	brief	brief	ADJ
cblr-13858	2463	15	investor	investor	NOUN
cblr-13858	2463	16	education	education	NOUN
cblr-13858	2463	17	video	video	NOUN
cblr-13858	2463	18	or	or	CCONJ
cblr-13858	2463	19	taking	take	VERB
cblr-13858	2463	20	a	a	DET
cblr-13858	2463	21	short	short	ADJ
cblr-13858	2463	22	quiz	quiz	NOUN
cblr-13858	2463	23	.	.	PUNCT
cblr-13858	2464	1	entrepreneurs	entrepreneur	NOUN
cblr-13858	2464	2	posting	post	VERB
cblr-13858	2464	3	on	on	ADP
cblr-13858	2464	4	those	those	DET
cblr-13858	2464	5	sites	site	NOUN
cblr-13858	2464	6	should	should	AUX
cblr-13858	2464	7	be	be	AUX
cblr-13858	2464	8	required	require	VERB
cblr-13858	2464	9	to	to	PART
cblr-13858	2464	10	specify	specify	VERB
cblr-13858	2464	11	a	a	DET
cblr-13858	2464	12	funding	funding	NOUN
cblr-13858	2464	13	goal	goal	NOUN
cblr-13858	2464	14	and	and	CCONJ
cblr-13858	2464	15	should	should	AUX
cblr-13858	2464	16	be	be	AUX
cblr-13858	2464	17	allowed	allow	VERB
cblr-13858	2464	18	to	to	PART
cblr-13858	2464	19	close	close	VERB
cblr-13858	2464	20	an	an	DET
cblr-13858	2464	21	offering	offering	NOUN
cblr-13858	2464	22	only	only	ADV
cblr-13858	2464	23	if	if	SCONJ
cblr-13858	2464	24	that	that	DET
cblr-13858	2464	25	goal	goal	NOUN
cblr-13858	2464	26	is	be	AUX
cblr-13858	2464	27	reached	reach	VERB
cblr-13858	2464	28	.	.	PUNCT
cblr-13858	2465	1	until	until	ADP
cblr-13858	2465	2	then	then	ADV
cblr-13858	2465	3	,	,	PUNCT
cblr-13858	2465	4	investors	investor	NOUN
cblr-13858	2465	5	should	should	AUX
cblr-13858	2465	6	be	be	AUX
cblr-13858	2465	7	free	free	ADJ
cblr-13858	2465	8	to	to	PART
cblr-13858	2465	9	withdraw	withdraw	VERB
cblr-13858	2465	10	their	their	PRON
cblr-13858	2465	11	commitments	commitment	NOUN
cblr-13858	2465	12	.	.	PUNCT
cblr-13858	2466	1	crowdfunding	crowdfunde	VERB
cblr-13858	2466	2	sites	site	NOUN
cblr-13858	2466	3	should	should	AUX
cblr-13858	2466	4	not	not	PART
cblr-13858	2466	5	be	be	AUX
cblr-13858	2466	6	allowed	allow	VERB
cblr-13858	2466	7	to	to	PART
cblr-13858	2466	8	recommend	recommend	VERB
cblr-13858	2466	9	or	or	CCONJ
cblr-13858	2466	10	rate	rate	NOUN
cblr-13858	2466	11	investment	investment	NOUN
cblr-13858	2466	12	opportunities	opportunity	NOUN
cblr-13858	2466	13	,	,	PUNCT
cblr-13858	2466	14	or	or	CCONJ
cblr-13858	2466	15	to	to	PART
cblr-13858	2466	16	advise	advise	VERB
cblr-13858	2466	17	investors	investor	NOUN
cblr-13858	2466	18	about	about	ADP
cblr-13858	2466	19	those	those	DET
cblr-13858	2466	20	opportunities	opportunity	NOUN
cblr-13858	2466	21	,	,	PUNCT
cblr-13858	2466	22	unless	unless	SCONJ
cblr-13858	2466	23	they	they	PRON
cblr-13858	2466	24	are	be	AUX
cblr-13858	2466	25	willing	willing	ADJ
cblr-13858	2466	26	to	to	PART
cblr-13858	2466	27	register	register	VERB
cblr-13858	2466	28	as	as	ADP
cblr-13858	2466	29	brokers	broker	NOUN
cblr-13858	2466	30	or	or	CCONJ
cblr-13858	2466	31	investment	investment	NOUN
cblr-13858	2466	32	advisers	adviser	NOUN
cblr-13858	2466	33	.	.	PUNCT
cblr-13858	2467	1	neither	neither	CCONJ
cblr-13858	2467	2	the	the	DET
cblr-13858	2467	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2467	4	sites	site	NOUN
cblr-13858	2467	5	nor	nor	CCONJ
cblr-13858	2467	6	their	their	PRON
cblr-13858	2467	7	employees	employee	NOUN
cblr-13858	2467	8	should	should	AUX
cblr-13858	2467	9	be	be	AUX
cblr-13858	2467	10	able	able	ADJ
cblr-13858	2467	11	to	to	PART
cblr-13858	2467	12	invest	invest	VERB
cblr-13858	2467	13	in	in	ADP
cblr-13858	2467	14	any	any	PRON
cblr-13858	2467	15	of	of	ADP
cblr-13858	2467	16	the	the	DET
cblr-13858	2467	17	offerings	offering	NOUN
cblr-13858	2467	18	that	that	PRON
cblr-13858	2467	19	appear	appear	VERB
cblr-13858	2467	20	on	on	ADP
cblr-13858	2467	21	the	the	DET
cblr-13858	2467	22	site	site	NOUN
cblr-13858	2467	23	.	.	PUNCT
cblr-13858	2468	1	crowdfunding	crowdfunde	VERB
cblr-13858	2468	2	sites	site	NOUN
cblr-13858	2468	3	that	that	PRON
cblr-13858	2468	4	meet	meet	VERB
cblr-13858	2468	5	these	these	DET
cblr-13858	2468	6	standards	standard	NOUN
cblr-13858	2468	7	and	and	CCONJ
cblr-13858	2468	8	notify	notify	VERB
cblr-13858	2468	9	the	the	DET
cblr-13858	2468	10	sec	sec	PROPN
cblr-13858	2468	11	that	that	SCONJ
cblr-13858	2468	12	they	they	PRON
cblr-13858	2468	13	are	be	AUX
cblr-13858	2468	14	engaged	engage	VERB
cblr-13858	2468	15	in	in	ADP
cblr-13858	2468	16	crowdfunding	crowdfunding	NOUN
cblr-13858	2468	17	should	should	AUX
cblr-13858	2468	18	not	not	PART
cblr-13858	2468	19	be	be	AUX
cblr-13858	2468	20	required	require	VERB
cblr-13858	2468	21	to	to	PART
cblr-13858	2468	22	register	register	VERB
cblr-13858	2468	23	as	as	ADP
cblr-13858	2468	24	brokers	broker	NOUN
cblr-13858	2468	25	or	or	CCONJ
cblr-13858	2468	26	investment	investment	NOUN
cblr-13858	2468	27	advisers	adviser	NOUN
cblr-13858	2468	28	6	6	NUM
cblr-13858	2468	29	"	"	PUNCT
cblr-13858	2468	30	see	see	VERB
cblr-13858	2468	31	securities	security	NOUN
cblr-13858	2468	32	exchange	exchange	PROPN
cblr-13858	2468	33	act	act	NOUN
cblr-13858	2468	34	of	of	ADP
cblr-13858	2468	35	1934	1934	NUM
cblr-13858	2468	36	§	§	PROPN
cblr-13858	2468	37	12(g)(1)(b	12(g)(1)(b	NUM
cblr-13858	2468	38	)	)	PUNCT
cblr-13858	2468	39	,	,	PUNCT
cblr-13858	2468	40	15	15	NUM
cblr-13858	2468	41	u.s.c	u.s.c	ADJ
cblr-13858	2468	42	.	.	PUNCT
cblr-13858	2469	1	§	§	PROPN
cblr-13858	2469	2	781(g)(1)(b	781(g)(1)(b	PROPN
cblr-13858	2469	3	)	)	PUNCT
cblr-13858	2469	4	(	(	PUNCT
cblr-13858	2469	5	2010	2010	NUM
cblr-13858	2469	6	)	)	PUNCT
cblr-13858	2469	7	(	(	PUNCT
cblr-13858	2469	8	requiring	require	VERB
cblr-13858	2469	9	the	the	DET
cblr-13858	2469	10	registration	registration	NOUN
cblr-13858	2469	11	of	of	ADP
cblr-13858	2469	12	companies	company	NOUN
cblr-13858	2469	13	with	with	ADP
cblr-13858	2469	14	more	more	ADJ
cblr-13858	2469	15	than	than	ADP
cblr-13858	2469	16	$	$	SYM
cblr-13858	2469	17	1	1	NUM
cblr-13858	2469	18	million	million	NUM
cblr-13858	2469	19	in	in	ADP
cblr-13858	2469	20	total	total	ADJ
cblr-13858	2469	21	assets	asset	NOUN
cblr-13858	2469	22	and	and	CCONJ
cblr-13858	2469	23	500	500	NUM
cblr-13858	2469	24	or	or	CCONJ
cblr-13858	2469	25	more	more	ADJ
cblr-13858	2469	26	record	record	NOUN
cblr-13858	2469	27	holders	holder	NOUN
cblr-13858	2469	28	of	of	ADP
cblr-13858	2469	29	a	a	DET
cblr-13858	2469	30	class	class	NOUN
cblr-13858	2469	31	of	of	ADP
cblr-13858	2469	32	equity	equity	NOUN
cblr-13858	2469	33	security	security	NOUN
cblr-13858	2469	34	)	)	PUNCT
cblr-13858	2469	35	;	;	PUNCT
cblr-13858	2469	36	rule	rule	VERB
cblr-13858	2469	37	12g-1	12g-1	NUM
cblr-13858	2469	38	(	(	PUNCT
cblr-13858	2469	39	raising	raise	VERB
cblr-13858	2469	40	the	the	DET
cblr-13858	2469	41	asset	asset	NOUN
cblr-13858	2469	42	amount	amount	NOUN
cblr-13858	2469	43	to	to	ADP
cblr-13858	2469	44	$	$	SYM
cblr-13858	2469	45	10	10	NUM
cblr-13858	2469	46	million	million	NUM
cblr-13858	2469	47	)	)	PUNCT
cblr-13858	2469	48	.	.	PUNCT
cblr-13858	2470	1	no	no	INTJ
cblr-13858	2470	2	.	.	NOUN
cblr-13858	2471	1	1	1	NUM
cblr-13858	2471	2	:	:	SYM
cblr-13858	2471	3	1	1	NUM
cblr-13858	2471	4	]	]	PUNCT
cblr-13858	2471	5	cro0wdfunding	cro0wdfunding	PROPN
cblr-13858	2471	6	and	and	CCONJ
cblr-13858	2471	7	securities	security	NOUN
cblr-13858	2471	8	la	la	PROPN
cblr-13858	2471	9	ws	ws	PROPN
cblr-13858	2471	10	133	133	NUM
cblr-13858	2471	11	columbia	columbia	PROPN
cblr-13858	2471	12	business	business	NOUN
cblr-13858	2471	13	law	law	PROPN
cblr-13858	2471	14	review	review	NOUN
cblr-13858	2471	15	unless	unless	SCONJ
cblr-13858	2471	16	they	they	PRON
cblr-13858	2471	17	also	also	ADV
cblr-13858	2471	18	engage	engage	VERB
cblr-13858	2471	19	in	in	ADP
cblr-13858	2471	20	activities	activity	NOUN
cblr-13858	2471	21	other	other	ADJ
cblr-13858	2471	22	than	than	ADP
cblr-13858	2471	23	their	their	PRON
cblr-13858	2471	24	crowdfunding	crowdfunding	NOUN
cblr-13858	2471	25	activities	activity	NOUN
cblr-13858	2471	26	that	that	PRON
cblr-13858	2471	27	would	would	AUX
cblr-13858	2471	28	make	make	VERB
cblr-13858	2471	29	them	they	PRON
cblr-13858	2471	30	such	such	ADJ
cblr-13858	2471	31	.	.	PUNCT
cblr-13858	2472	1	1	1	X
cblr-13858	2472	2	.	.	X
cblr-13858	2472	3	open	open	ADJ
cblr-13858	2472	4	sites	site	NOUN
cblr-13858	2472	5	,	,	PUNCT
cblr-13858	2472	6	open	open	ADJ
cblr-13858	2472	7	communication	communication	NOUN
cblr-13858	2472	8	crowdfunding	crowdfunding	NOUN
cblr-13858	2472	9	sites	site	NOUN
cblr-13858	2472	10	that	that	PRON
cblr-13858	2472	11	want	want	VERB
cblr-13858	2472	12	to	to	PART
cblr-13858	2472	13	take	take	VERB
cblr-13858	2472	14	advantage	advantage	NOUN
cblr-13858	2472	15	of	of	ADP
cblr-13858	2472	16	the	the	DET
cblr-13858	2472	17	proposed	propose	VERB
cblr-13858	2472	18	exemption	exemption	NOUN
cblr-13858	2472	19	should	should	AUX
cblr-13858	2472	20	be	be	AUX
cblr-13858	2472	21	open	open	ADJ
cblr-13858	2472	22	to	to	ADP
cblr-13858	2472	23	the	the	DET
cblr-13858	2472	24	general	general	ADJ
cblr-13858	2472	25	public	public	NOUN
cblr-13858	2472	26	and	and	CCONJ
cblr-13858	2472	27	should	should	AUX
cblr-13858	2472	28	be	be	AUX
cblr-13858	2472	29	required	require	VERB
cblr-13858	2472	30	to	to	PART
cblr-13858	2472	31	provide	provide	VERB
cblr-13858	2472	32	some	some	DET
cblr-13858	2472	33	means	mean	NOUN
cblr-13858	2472	34	,	,	PUNCT
cblr-13858	2472	35	such	such	ADJ
cblr-13858	2472	36	as	as	ADP
cblr-13858	2472	37	an	an	DET
cblr-13858	2472	38	electronic	electronic	ADJ
cblr-13858	2472	39	bulletin	bulletin	NOUN
cblr-13858	2472	40	board	board	NOUN
cblr-13858	2472	41	,	,	PUNCT
cblr-13858	2472	42	that	that	PRON
cblr-13858	2472	43	allows	allow	VERB
cblr-13858	2472	44	investors	investor	NOUN
cblr-13858	2472	45	to	to	PART
cblr-13858	2472	46	communicate	communicate	VERB
cblr-13858	2472	47	freely	freely	ADV
cblr-13858	2472	48	and	and	CCONJ
cblr-13858	2472	49	openly	openly	ADV
cblr-13858	2472	50	about	about	ADP
cblr-13858	2472	51	each	each	DET
cblr-13858	2472	52	offering	offering	NOUN
cblr-13858	2472	53	.	.	PUNCT
cblr-13858	2473	1	these	these	DET
cblr-13858	2473	2	requirements	requirement	NOUN
cblr-13858	2473	3	will	will	AUX
cblr-13858	2473	4	allow	allow	VERB
cblr-13858	2473	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2473	6	sites	site	NOUN
cblr-13858	2473	7	to	to	PART
cblr-13858	2473	8	take	take	VERB
cblr-13858	2473	9	advantage	advantage	NOUN
cblr-13858	2473	10	of	of	ADP
cblr-13858	2473	11	"	"	PUNCT
cblr-13858	2473	12	the	the	DET
cblr-13858	2473	13	wisdom	wisdom	NOUN
cblr-13858	2473	14	of	of	ADP
cblr-13858	2473	15	crowds	crowd	NOUN
cblr-13858	2473	16	"	"	PUNCT
cblr-13858	2473	17	that	that	PRON
cblr-13858	2473	18	is	be	AUX
cblr-13858	2473	19	the	the	DET
cblr-13858	2473	20	foundation	foundation	NOUN
cblr-13858	2473	21	of	of	ADP
cblr-13858	2473	22	crowdsourcing	crowdsourcing	PROPN
cblr-13858	2473	23	,	,	PUNCT
cblr-13858	2473	24	including	include	VERB
cblr-13858	2473	25	crowdfunding.6	crowdfunding.6	PROPN
cblr-13858	2473	26	6	6	NUM
cblr-13858	2473	27	an	an	DET
cblr-13858	2473	28	open	open	ADJ
cblr-13858	2473	29	communications	communication	NOUN
cblr-13858	2473	30	platform	platform	NOUN
cblr-13858	2473	31	will	will	AUX
cblr-13858	2473	32	help	help	VERB
cblr-13858	2473	33	to	to	PART
cblr-13858	2473	34	prevent	prevent	VERB
cblr-13858	2473	35	fraud	fraud	NOUN
cblr-13858	2473	36	by	by	ADP
cblr-13858	2473	37	allowing	allow	VERB
cblr-13858	2473	38	investors	investor	NOUN
cblr-13858	2473	39	with	with	ADP
cblr-13858	2473	40	particular	particular	ADJ
cblr-13858	2473	41	knowledge	knowledge	NOUN
cblr-13858	2473	42	about	about	ADP
cblr-13858	2473	43	an	an	DET
cblr-13858	2473	44	offering	offering	NOUN
cblr-13858	2473	45	or	or	CCONJ
cblr-13858	2473	46	an	an	DET
cblr-13858	2473	47	issuer	issuer	NOUN
cblr-13858	2473	48	to	to	PART
cblr-13858	2473	49	communicate	communicate	VERB
cblr-13858	2473	50	it	it	PRON
cblr-13858	2473	51	to	to	ADP
cblr-13858	2473	52	other	other	ADJ
cblr-13858	2473	53	investors	investor	NOUN
cblr-13858	2473	54	.	.	PUNCT
cblr-13858	2474	1	investors	investor	NOUN
cblr-13858	2474	2	who	who	PRON
cblr-13858	2474	3	are	be	AUX
cblr-13858	2474	4	aware	aware	ADJ
cblr-13858	2474	5	of	of	ADP
cblr-13858	2474	6	a	a	DET
cblr-13858	2474	7	particular	particular	ADJ
cblr-13858	2474	8	entrepreneur	entrepreneur	NOUN
cblr-13858	2474	9	's	's	PART
cblr-13858	2474	10	shady	shady	ADJ
cblr-13858	2474	11	business	business	NOUN
cblr-13858	2474	12	background	background	NOUN
cblr-13858	2474	13	can	can	AUX
cblr-13858	2474	14	communicate	communicate	VERB
cblr-13858	2474	15	that	that	DET
cblr-13858	2474	16	knowledge	knowledge	NOUN
cblr-13858	2474	17	to	to	ADP
cblr-13858	2474	18	others	other	NOUN
cblr-13858	2474	19	.	.	PUNCT
cblr-13858	2475	1	investors	investor	NOUN
cblr-13858	2475	2	with	with	ADP
cblr-13858	2475	3	local	local	ADJ
cblr-13858	2475	4	knowledge	knowledge	NOUN
cblr-13858	2475	5	of	of	ADP
cblr-13858	2475	6	facts	fact	NOUN
cblr-13858	2475	7	inconsistent	inconsistent	ADJ
cblr-13858	2475	8	with	with	ADP
cblr-13858	2475	9	the	the	DET
cblr-13858	2475	10	entrepreneur	entrepreneur	NOUN
cblr-13858	2475	11	's	's	PART
cblr-13858	2475	12	claims	claim	NOUN
cblr-13858	2475	13	can	can	AUX
cblr-13858	2475	14	inform	inform	VERB
cblr-13858	2475	15	others	other	NOUN
cblr-13858	2475	16	.	.	PUNCT
cblr-13858	2476	1	for	for	ADP
cblr-13858	2476	2	example	example	NOUN
cblr-13858	2476	3	,	,	PUNCT
cblr-13858	2476	4	if	if	SCONJ
cblr-13858	2476	5	the	the	DET
cblr-13858	2476	6	entrepreneur	entrepreneur	NOUN
cblr-13858	2476	7	falsely	falsely	ADV
cblr-13858	2476	8	claims	claim	VERB
cblr-13858	2476	9	to	to	PART
cblr-13858	2476	10	own	own	VERB
cblr-13858	2476	11	a	a	DET
cblr-13858	2476	12	facility	facility	NOUN
cblr-13858	2476	13	in	in	ADP
cblr-13858	2476	14	north	north	PROPN
cblr-13858	2476	15	platte	platte	PROPN
cblr-13858	2476	16	,	,	PUNCT
cblr-13858	2476	17	nebraska	nebraska	PROPN
cblr-13858	2476	18	,	,	PUNCT
cblr-13858	2476	19	people	people	NOUN
cblr-13858	2476	20	in	in	ADP
cblr-13858	2476	21	north	north	PROPN
cblr-13858	2476	22	platte	platte	NOUN
cblr-13858	2476	23	can	can	AUX
cblr-13858	2476	24	expose	expose	VERB
cblr-13858	2476	25	the	the	DET
cblr-13858	2476	26	fraud	fraud	NOUN
cblr-13858	2476	27	.	.	PUNCT
cblr-13858	2477	1	in	in	ADP
cblr-13858	2477	2	addition	addition	NOUN
cblr-13858	2477	3	to	to	ADP
cblr-13858	2477	4	preventing	prevent	VERB
cblr-13858	2477	5	fraud	fraud	NOUN
cblr-13858	2477	6	,	,	PUNCT
cblr-13858	2477	7	open	open	ADJ
cblr-13858	2477	8	communication	communication	NOUN
cblr-13858	2477	9	will	will	AUX
cblr-13858	2477	10	lead	lead	VERB
cblr-13858	2477	11	to	to	ADP
cblr-13858	2477	12	better	well	ADV
cblr-13858	2477	13	-	-	PUNCT
cblr-13858	2477	14	informed	inform	VERB
cblr-13858	2477	15	investors	investor	NOUN
cblr-13858	2477	16	.	.	PUNCT
cblr-13858	2478	1	investors	investor	NOUN
cblr-13858	2478	2	with	with	ADP
cblr-13858	2478	3	knowledge	knowledge	NOUN
cblr-13858	2478	4	of	of	ADP
cblr-13858	2478	5	the	the	DET
cblr-13858	2478	6	particular	particular	ADJ
cblr-13858	2478	7	industry	industry	NOUN
cblr-13858	2478	8	or	or	CCONJ
cblr-13858	2478	9	type	type	NOUN
cblr-13858	2478	10	of	of	ADP
cblr-13858	2478	11	product	product	NOUN
cblr-13858	2478	12	can	can	AUX
cblr-13858	2478	13	share	share	VERB
cblr-13858	2478	14	that	that	DET
cblr-13858	2478	15	knowledge	knowledge	NOUN
cblr-13858	2478	16	with	with	ADP
cblr-13858	2478	17	other	other	ADJ
cblr-13858	2478	18	potential	potential	ADJ
cblr-13858	2478	19	investors	investor	NOUN
cblr-13858	2478	20	.	.	PUNCT
cblr-13858	2479	1	investors	investor	NOUN
cblr-13858	2479	2	who	who	PRON
cblr-13858	2479	3	are	be	AUX
cblr-13858	2479	4	also	also	ADV
cblr-13858	2479	5	potential	potential	ADJ
cblr-13858	2479	6	customers	customer	NOUN
cblr-13858	2479	7	can	can	AUX
cblr-13858	2479	8	explain	explain	VERB
cblr-13858	2479	9	why	why	SCONJ
cblr-13858	2479	10	the	the	DET
cblr-13858	2479	11	proposed	propose	VERB
cblr-13858	2479	12	product	product	NOUN
cblr-13858	2479	13	or	or	CCONJ
cblr-13858	2479	14	service	service	NOUN
cblr-13858	2479	15	will	will	AUX
cblr-13858	2479	16	or	or	CCONJ
cblr-13858	2479	17	will	will	AUX
cblr-13858	2479	18	not	not	PART
cblr-13858	2479	19	succeed	succeed	VERB
cblr-13858	2479	20	and	and	CCONJ
cblr-13858	2479	21	can	can	AUX
cblr-13858	2479	22	suggest	suggest	VERB
cblr-13858	2479	23	modifications	modification	NOUN
cblr-13858	2479	24	of	of	ADP
cblr-13858	2479	25	the	the	DET
cblr-13858	2479	26	product	product	NOUN
cblr-13858	2479	27	or	or	CCONJ
cblr-13858	2479	28	service	service	NOUN
cblr-13858	2479	29	.	.	PUNCT
cblr-13858	2480	1	investors	investor	NOUN
cblr-13858	2480	2	with	with	ADP
cblr-13858	2480	3	business	business	NOUN
cblr-13858	2480	4	or	or	CCONJ
cblr-13858	2480	5	accounting	accounting	NOUN
cblr-13858	2480	6	expertise	expertise	NOUN
cblr-13858	2480	7	can	can	AUX
cblr-13858	2480	8	point	point	VERB
cblr-13858	2480	9	out	out	ADP
cblr-13858	2480	10	problems	problem	NOUN
cblr-13858	2480	11	in	in	ADP
cblr-13858	2480	12	the	the	DET
cblr-13858	2480	13	entrepreneur	entrepreneur	NOUN
cblr-13858	2480	14	's	's	PART
cblr-13858	2480	15	business	business	NOUN
cblr-13858	2480	16	plan	plan	NOUN
cblr-13858	2480	17	or	or	CCONJ
cblr-13858	2480	18	projections	projection	NOUN
cblr-13858	2480	19	.	.	PUNCT
cblr-13858	2481	1	investors	investor	NOUN
cblr-13858	2481	2	with	with	ADP
cblr-13858	2481	3	legal	legal	ADJ
cblr-13858	2481	4	expertise	expertise	NOUN
cblr-13858	2481	5	can	can	AUX
cblr-13858	2481	6	point	point	VERB
cblr-13858	2481	7	out	out	ADP
cblr-13858	2481	8	regulatory	regulatory	ADJ
cblr-13858	2481	9	issues	issue	NOUN
cblr-13858	2481	10	the	the	DET
cblr-13858	2481	11	a	a	DET
cblr-13858	2481	12	see	see	NOUN
cblr-13858	2481	13	surowiecki	surowiecki	ADJ
cblr-13858	2481	14	,	,	PUNCT
cblr-13858	2481	15	supra	supra	ADJ
cblr-13858	2481	16	note	note	NOUN
cblr-13858	2481	17	123	123	NUM
cblr-13858	2481	18	,	,	PUNCT
cblr-13858	2481	19	at	at	ADP
cblr-13858	2481	20	230	230	NUM
cblr-13858	2481	21	(	(	PUNCT
cblr-13858	2481	22	peer	peer	NOUN
cblr-13858	2481	23	monitoring	monitoring	NOUN
cblr-13858	2481	24	is	be	AUX
cblr-13858	2481	25	a	a	DET
cblr-13858	2481	26	fundamental	fundamental	ADJ
cblr-13858	2481	27	part	part	NOUN
cblr-13858	2481	28	of	of	ADP
cblr-13858	2481	29	the	the	DET
cblr-13858	2481	30	virtual	virtual	ADJ
cblr-13858	2481	31	world	world	NOUN
cblr-13858	2481	32	.	.	PUNCT
cblr-13858	2481	33	)	)	PUNCT
cblr-13858	2482	1	;	;	PUNCT
cblr-13858	2482	2	schwienbacher	schwienbacher	PROPN
cblr-13858	2482	3	&	&	CCONJ
cblr-13858	2482	4	larralde	larralde	PROPN
cblr-13858	2482	5	,	,	PUNCT
cblr-13858	2482	6	supra	supra	PROPN
cblr-13858	2482	7	note	note	PROPN
cblr-13858	2482	8	14	14	NUM
cblr-13858	2482	9	,	,	PUNCT
cblr-13858	2482	10	at	at	ADP
cblr-13858	2482	11	12	12	NUM
cblr-13858	2482	12	(	(	PUNCT
cblr-13858	2482	13	although	although	SCONJ
cblr-13858	2482	14	crowdfunders	crowdfunder	NOUN
cblr-13858	2482	15	might	might	AUX
cblr-13858	2482	16	not	not	PART
cblr-13858	2482	17	have	have	VERB
cblr-13858	2482	18	any	any	DET
cblr-13858	2482	19	special	special	ADJ
cblr-13858	2482	20	knowledge	knowledge	NOUN
cblr-13858	2482	21	about	about	ADP
cblr-13858	2482	22	the	the	DET
cblr-13858	2482	23	industry	industry	NOUN
cblr-13858	2482	24	in	in	ADP
cblr-13858	2482	25	which	which	PRON
cblr-13858	2482	26	they	they	PRON
cblr-13858	2482	27	are	be	AUX
cblr-13858	2482	28	investing	invest	VERB
cblr-13858	2482	29	,	,	PUNCT
cblr-13858	2482	30	they	they	PRON
cblr-13858	2482	31	can	can	AUX
cblr-13858	2482	32	be	be	AUX
cblr-13858	2482	33	more	more	ADV
cblr-13858	2482	34	efficient	efficient	ADJ
cblr-13858	2482	35	as	as	ADP
cblr-13858	2482	36	a	a	DET
cblr-13858	2482	37	crowd	crowd	NOUN
cblr-13858	2482	38	than	than	ADP
cblr-13858	2482	39	a	a	DET
cblr-13858	2482	40	few	few	ADJ
cblr-13858	2482	41	equity	equity	NOUN
cblr-13858	2482	42	investors	investor	NOUN
cblr-13858	2482	43	alone	alone	ADV
cblr-13858	2482	44	.	.	PUNCT
cblr-13858	2482	45	)	)	PUNCT
cblr-13858	2482	46	.	.	PUNCT
cblr-13858	2483	1	see	see	VERB
cblr-13858	2483	2	also	also	ADV
cblr-13858	2483	3	freedman	freedman	PROPN
cblr-13858	2483	4	&	&	CCONJ
cblr-13858	2483	5	jin	jin	PROPN
cblr-13858	2483	6	,	,	PUNCT
cblr-13858	2483	7	supra	supra	PROPN
cblr-13858	2483	8	note	note	NOUN
cblr-13858	2483	9	599	599	NUM
cblr-13858	2483	10	,	,	PUNCT
cblr-13858	2483	11	at	at	ADP
cblr-13858	2483	12	2	2	NUM
cblr-13858	2483	13	.	.	NOUN
cblr-13858	2483	14	134	134	NUM
cblr-13858	2484	1	[	[	X
cblr-13858	2484	2	vol	vol	NOUN
cblr-13858	2484	3	.	.	NOUN
cblr-13858	2484	4	2012	2012	NUM
cblr-13858	2484	5	entrepreneur	entrepreneur	NOUN
cblr-13858	2484	6	has	have	AUX
cblr-13858	2484	7	not	not	PART
cblr-13858	2484	8	considered	consider	VERB
cblr-13858	2484	9	.	.	PUNCT
cblr-13858	2485	1	not	not	PART
cblr-13858	2485	2	only	only	ADV
cblr-13858	2485	3	would	would	AUX
cblr-13858	2485	4	these	these	DET
cblr-13858	2485	5	communications	communication	NOUN
cblr-13858	2485	6	provide	provide	VERB
cblr-13858	2485	7	investors	investor	NOUN
cblr-13858	2485	8	with	with	ADP
cblr-13858	2485	9	more	more	ADJ
cblr-13858	2485	10	and	and	CCONJ
cblr-13858	2485	11	better	well	ADJ
cblr-13858	2485	12	information	information	NOUN
cblr-13858	2485	13	,	,	PUNCT
cblr-13858	2485	14	they	they	PRON
cblr-13858	2485	15	might	might	AUX
cblr-13858	2485	16	even	even	ADV
cblr-13858	2485	17	help	help	VERB
cblr-13858	2485	18	the	the	DET
cblr-13858	2485	19	entrepreneur	entrepreneur	NOUN
cblr-13858	2485	20	refine	refine	VERB
cblr-13858	2485	21	her	her	PRON
cblr-13858	2485	22	business	business	NOUN
cblr-13858	2485	23	plan	plan	NOUN
cblr-13858	2485	24	.	.	PUNCT
cblr-13858	2486	1	openness	openness	NOUN
cblr-13858	2486	2	like	like	ADP
cblr-13858	2486	3	this	this	PRON
cblr-13858	2486	4	can	can	AUX
cblr-13858	2486	5	also	also	ADV
cblr-13858	2486	6	lead	lead	VERB
cblr-13858	2486	7	to	to	ADP
cblr-13858	2486	8	better	well	ADJ
cblr-13858	2486	9	monitoring	monitoring	NOUN
cblr-13858	2486	10	after	after	SCONJ
cblr-13858	2486	11	an	an	DET
cblr-13858	2486	12	investment	investment	NOUN
cblr-13858	2486	13	is	be	AUX
cblr-13858	2486	14	made	make	VERB
cblr-13858	2486	15	.	.	PUNCT
cblr-13858	2487	1	from	from	ADP
cblr-13858	2487	2	a	a	DET
cblr-13858	2487	3	purely	purely	ADV
cblr-13858	2487	4	economic	economic	ADJ
cblr-13858	2487	5	standpoint	standpoint	NOUN
cblr-13858	2487	6	,	,	PUNCT
cblr-13858	2487	7	it	it	PRON
cblr-13858	2487	8	makes	make	VERB
cblr-13858	2487	9	little	little	ADJ
cblr-13858	2487	10	sense	sense	NOUN
cblr-13858	2487	11	for	for	ADP
cblr-13858	2487	12	someone	someone	PRON
cblr-13858	2487	13	who	who	PRON
cblr-13858	2487	14	has	have	AUX
cblr-13858	2487	15	invested	invest	VERB
cblr-13858	2487	16	a	a	DET
cblr-13858	2487	17	couple	couple	NOUN
cblr-13858	2487	18	hundred	hundred	NUM
cblr-13858	2487	19	dollars	dollar	NOUN
cblr-13858	2487	20	to	to	PART
cblr-13858	2487	21	devote	devote	VERB
cblr-13858	2487	22	a	a	DET
cblr-13858	2487	23	substantial	substantial	ADJ
cblr-13858	2487	24	amount	amount	NOUN
cblr-13858	2487	25	of	of	ADP
cblr-13858	2487	26	time	time	NOUN
cblr-13858	2487	27	and	and	CCONJ
cblr-13858	2487	28	effort	effort	NOUN
cblr-13858	2487	29	to	to	ADP
cblr-13858	2487	30	monitoring	monitor	VERB
cblr-13858	2487	31	.	.	PUNCT
cblr-13858	2488	1	but	but	CCONJ
cblr-13858	2488	2	the	the	DET
cblr-13858	2488	3	social	social	ADJ
cblr-13858	2488	4	aspects	aspect	NOUN
cblr-13858	2488	5	of	of	ADP
cblr-13858	2488	6	crowdfunding	crowdfunding	NOUN
cblr-13858	2488	7	and	and	CCONJ
cblr-13858	2488	8	other	other	ADJ
cblr-13858	2488	9	crowdsourcing	crowdsource	VERB
cblr-13858	2488	10	applications	application	NOUN
cblr-13858	2488	11	often	often	ADV
cblr-13858	2488	12	lead	lead	VERB
cblr-13858	2488	13	people	people	NOUN
cblr-13858	2488	14	to	to	PART
cblr-13858	2488	15	contribute	contribute	VERB
cblr-13858	2488	16	inordinate	inordinate	ADJ
cblr-13858	2488	17	amounts	amount	NOUN
cblr-13858	2488	18	of	of	ADP
cblr-13858	2488	19	time	time	NOUN
cblr-13858	2488	20	and	and	CCONJ
cblr-13858	2488	21	effort	effort	NOUN
cblr-13858	2488	22	to	to	ADP
cblr-13858	2488	23	the	the	DET
cblr-13858	2488	24	enterprise.6	enterprise.6	PROPN
cblr-13858	2488	25	5	5	NUM
cblr-13858	2488	26	a	a	DET
cblr-13858	2488	27	crowdfunding	crowdfunding	NOUN
cblr-13858	2488	28	site	site	NOUN
cblr-13858	2488	29	that	that	PRON
cblr-13858	2488	30	facilitates	facilitate	VERB
cblr-13858	2488	31	open	open	ADJ
cblr-13858	2488	32	communication	communication	NOUN
cblr-13858	2488	33	allows	allow	VERB
cblr-13858	2488	34	these	these	DET
cblr-13858	2488	35	monitors	monitor	NOUN
cblr-13858	2488	36	to	to	PART
cblr-13858	2488	37	share	share	VERB
cblr-13858	2488	38	their	their	PRON
cblr-13858	2488	39	findings	finding	NOUN
cblr-13858	2488	40	with	with	ADP
cblr-13858	2488	41	other	other	ADJ
cblr-13858	2488	42	investors	investor	NOUN
cblr-13858	2488	43	.	.	PUNCT
cblr-13858	2489	1	open	open	ADJ
cblr-13858	2489	2	communication	communication	NOUN
cblr-13858	2489	3	is	be	AUX
cblr-13858	2489	4	not	not	PART
cblr-13858	2489	5	an	an	DET
cblr-13858	2489	6	unmitigated	unmitigated	ADJ
cblr-13858	2489	7	positive	positive	NOUN
cblr-13858	2489	8	.	.	PUNCT
cblr-13858	2490	1	it	it	PRON
cblr-13858	2490	2	can	can	AUX
cblr-13858	2490	3	also	also	ADV
cblr-13858	2490	4	lead	lead	VERB
cblr-13858	2490	5	to	to	ADP
cblr-13858	2490	6	group	group	NOUN
cblr-13858	2490	7	-	-	PUNCT
cblr-13858	2490	8	think	think	NOUN
cblr-13858	2490	9	.	.	PUNCT
cblr-13858	2491	1	deliberative	deliberative	ADJ
cblr-13858	2491	2	discussion	discussion	NOUN
cblr-13858	2491	3	"	"	PUNCT
cblr-13858	2491	4	is	be	AUX
cblr-13858	2491	5	the	the	DET
cblr-13858	2491	6	enemy	enemy	NOUN
cblr-13858	2491	7	of	of	ADP
cblr-13858	2491	8	collective	collective	ADJ
cblr-13858	2491	9	intelligence	intelligence	NOUN
cblr-13858	2491	10	because	because	SCONJ
cblr-13858	2491	11	it	it	PRON
cblr-13858	2491	12	reduces	reduce	VERB
cblr-13858	2491	13	diversity	diversity	NOUN
cblr-13858	2491	14	.	.	PUNCT
cblr-13858	2492	1	"6	"6	NOUN
cblr-13858	2492	2	66	66	NUM
cblr-13858	2492	3	james	james	PROPN
cblr-13858	2492	4	surowiecki	surowiecki	PROPN
cblr-13858	2492	5	,	,	PUNCT
cblr-13858	2492	6	promoter	promoter	NOUN
cblr-13858	2492	7	of	of	ADP
cblr-13858	2492	8	"	"	PUNCT
cblr-13858	2492	9	the	the	DET
cblr-13858	2492	10	wisdom	wisdom	NOUN
cblr-13858	2492	11	of	of	ADP
cblr-13858	2492	12	crowds	crowd	NOUN
cblr-13858	2492	13	,	,	PUNCT
cblr-13858	2492	14	"	"	PUNCT
cblr-13858	2492	15	notes	note	VERB
cblr-13858	2492	16	that	that	SCONJ
cblr-13858	2492	17	group	group	NOUN
cblr-13858	2492	18	judgment	judgment	NOUN
cblr-13858	2492	19	is	be	AUX
cblr-13858	2492	20	most	most	ADV
cblr-13858	2492	21	likely	likely	ADJ
cblr-13858	2492	22	to	to	PART
cblr-13858	2492	23	be	be	AUX
cblr-13858	2492	24	accurate	accurate	ADJ
cblr-13858	2492	25	if	if	SCONJ
cblr-13858	2492	26	each	each	DET
cblr-13858	2492	27	person	person	NOUN
cblr-13858	2492	28	's	's	PART
cblr-13858	2492	29	opinion	opinion	NOUN
cblr-13858	2492	30	is	be	AUX
cblr-13858	2492	31	not	not	PART
cblr-13858	2492	32	determined	determine	VERB
cblr-13858	2492	33	by	by	ADP
cblr-13858	2492	34	the	the	DET
cblr-13858	2492	35	opinions	opinion	NOUN
cblr-13858	2492	36	of	of	ADP
cblr-13858	2492	37	those	those	PRON
cblr-13858	2492	38	around	around	ADP
cblr-13858	2492	39	them	they	PRON
cblr-13858	2492	40	.	.	PUNCT
cblr-13858	2492	41	"	"	PUNCT
cblr-13858	2493	1	according	accord	VERB
cblr-13858	2493	2	to	to	ADP
cblr-13858	2493	3	surowiecki	surowiecki	PROPN
cblr-13858	2493	4	,	,	PUNCT
cblr-13858	2493	5	"	"	PUNCT
cblr-13858	2493	6	the	the	DET
cblr-13858	2493	7	more	more	ADJ
cblr-13858	2493	8	influence	influence	NOUN
cblr-13858	2493	9	a	a	DET
cblr-13858	2493	10	group	group	NOUN
cblr-13858	2493	11	's	's	PART
cblr-13858	2493	12	members	member	NOUN
cblr-13858	2493	13	exert	exert	VERB
cblr-13858	2493	14	on	on	ADP
cblr-13858	2493	15	each	each	DET
cblr-13858	2493	16	other	other	ADJ
cblr-13858	2493	17	,	,	PUNCT
cblr-13858	2493	18	and	and	CCONJ
cblr-13858	2493	19	the	the	DET
cblr-13858	2493	20	more	more	ADV
cblr-13858	2493	21	personal	personal	ADJ
cblr-13858	2493	22	contact	contact	NOUN
cblr-13858	2493	23	they	they	PRON
cblr-13858	2493	24	have	have	VERB
cblr-13858	2493	25	with	with	ADP
cblr-13858	2493	26	each	each	DET
cblr-13858	2493	27	other	other	ADJ
cblr-13858	2493	28	,	,	PUNCT
cblr-13858	2493	29	the	the	PRON
cblr-13858	2493	30	less	less	ADV
cblr-13858	2493	31	likely	likely	ADJ
cblr-13858	2493	32	it	it	PRON
cblr-13858	2493	33	is	be	AUX
cblr-13858	2493	34	that	that	SCONJ
cblr-13858	2493	35	the	the	DET
cblr-13858	2493	36	group	group	NOUN
cblr-13858	2493	37	's	's	PART
cblr-13858	2493	38	decisions	decision	NOUN
cblr-13858	2493	39	will	will	AUX
cblr-13858	2493	40	be	be	AUX
cblr-13858	2493	41	wise	wise	ADJ
cblr-13858	2493	42	ones	one	NOUN
cblr-13858	2493	43	.	.	PUNCT
cblr-13858	2494	1	"668	"668	NOUN
cblr-13858	2494	2	if	if	SCONJ
cblr-13858	2494	3	people	people	NOUN
cblr-13858	2494	4	can	can	AUX
cblr-13858	2494	5	see	see	VERB
cblr-13858	2494	6	what	what	PRON
cblr-13858	2494	7	others	other	NOUN
cblr-13858	2494	8	have	have	AUX
cblr-13858	2494	9	done	do	VERB
cblr-13858	2494	10	before	before	SCONJ
cblr-13858	2494	11	they	they	PRON
cblr-13858	2494	12	act	act	VERB
cblr-13858	2494	13	,	,	PUNCT
cblr-13858	2494	14	they	they	PRON
cblr-13858	2494	15	tend	tend	VERB
cblr-13858	2494	16	to	to	PART
cblr-13858	2494	17	follow	follow	VERB
cblr-13858	2494	18	the	the	DET
cblr-13858	2494	19	actions	action	NOUN
cblr-13858	2494	20	of	of	ADP
cblr-13858	2494	21	others	other	NOUN
cblr-13858	2494	22	,	,	PUNCT
cblr-13858	2494	23	creating	create	VERB
cblr-13858	2494	24	an	an	DET
cblr-13858	2494	25	"	"	PUNCT
cblr-13858	2494	26	information	information	NOUN
cblr-13858	2494	27	cascade	cascade	NOUN
cblr-13858	2494	28	"	"	PUNCT
cblr-13858	2494	29	problem.66	problem.66	NOUN
cblr-13858	2494	30	9	9	NUM
cblr-13858	2494	31	there	there	PRON
cblr-13858	2494	32	is	be	VERB
cblr-13858	2494	33	also	also	ADV
cblr-13858	2494	34	a	a	DET
cblr-13858	2494	35	risk	risk	NOUN
cblr-13858	2494	36	that	that	SCONJ
cblr-13858	2494	37	these	these	DET
cblr-13858	2494	38	open	open	ADJ
cblr-13858	2494	39	forums	forum	NOUN
cblr-13858	2494	40	will	will	AUX
cblr-13858	2494	41	be	be	AUX
cblr-13858	2494	42	the	the	DET
cblr-13858	2494	43	target	target	NOUN
cblr-13858	2494	44	of	of	ADP
cblr-13858	2494	45	spammers	spammer	NOUN
cblr-13858	2494	46	or	or	CCONJ
cblr-13858	2494	47	advertisements	advertisement	NOUN
cblr-13858	2494	48	,	,	PUNCT
cblr-13858	2494	49	or	or	CCONJ
cblr-13858	2494	50	that	that	SCONJ
cblr-13858	2494	51	users	user	NOUN
cblr-13858	2494	52	will	will	AUX
cblr-13858	2494	53	post	post	VERB
cblr-13858	2494	54	fraudulent	fraudulent	ADJ
cblr-13858	2494	55	comments	comment	NOUN
cblr-13858	2494	56	.	.	PUNCT
cblr-13858	2495	1	crowdfunding	crowdfunde	VERB
cblr-13858	2495	2	sites	site	NOUN
cblr-13858	2495	3	should	should	AUX
cblr-13858	2495	4	not	not	PART
cblr-13858	2495	5	be	be	AUX
cblr-13858	2495	6	"	"	PUNCT
cblr-13858	2495	7	"	"	PUNCT
cblr-13858	2495	8	in	in	ADP
cblr-13858	2495	9	many	many	ADJ
cblr-13858	2495	10	cases	case	NOUN
cblr-13858	2495	11	,	,	PUNCT
cblr-13858	2495	12	the	the	DET
cblr-13858	2495	13	financial	financial	ADJ
cblr-13858	2495	14	return	return	NOUN
cblr-13858	2495	15	seems	seem	VERB
cblr-13858	2495	16	to	to	PART
cblr-13858	2495	17	be	be	AUX
cblr-13858	2495	18	of	of	ADP
cblr-13858	2495	19	secondary	secondary	ADJ
cblr-13858	2495	20	concern	concern	NOUN
cblr-13858	2495	21	for	for	ADP
cblr-13858	2495	22	those	those	PRON
cblr-13858	2495	23	who	who	PRON
cblr-13858	2495	24	provide	provide	VERB
cblr-13858	2495	25	funds	fund	NOUN
cblr-13858	2495	26	.	.	PUNCT
cblr-13858	2496	1	this	this	PRON
cblr-13858	2496	2	suggests	suggest	VERB
cblr-13858	2496	3	that	that	SCONJ
cblr-13858	2496	4	crowdfunders	crowdfunder	NOUN
cblr-13858	2496	5	care	care	VERB
cblr-13858	2496	6	about	about	ADP
cblr-13858	2496	7	social	social	ADJ
cblr-13858	2496	8	reputation	reputation	NOUN
cblr-13858	2496	9	and/or	and/or	CCONJ
cblr-13858	2496	10	enjoy	enjoy	VERB
cblr-13858	2496	11	private	private	ADJ
cblr-13858	2496	12	benefits	benefit	NOUN
cblr-13858	2496	13	from	from	ADP
cblr-13858	2496	14	participating	participate	VERB
cblr-13858	2496	15	in	in	ADP
cblr-13858	2496	16	the	the	DET
cblr-13858	2496	17	success	success	NOUN
cblr-13858	2496	18	of	of	ADP
cblr-13858	2496	19	the	the	DET
cblr-13858	2496	20	initiative	initiative	NOUN
cblr-13858	2496	21	.	.	PUNCT
cblr-13858	2496	22	"	"	PUNCT
cblr-13858	2497	1	belleflamme	belleflamme	PROPN
cblr-13858	2497	2	et	et	PROPN
cblr-13858	2497	3	al	al	PROPN
cblr-13858	2497	4	.	.	PROPN
cblr-13858	2497	5	,	,	PUNCT
cblr-13858	2497	6	supra	supra	PROPN
cblr-13858	2497	7	note	note	PROPN
cblr-13858	2497	8	10	10	NUM
cblr-13858	2497	9	,	,	PUNCT
cblr-13858	2497	10	at	at	ADP
cblr-13858	2497	11	27	27	NUM
cblr-13858	2497	12	.	.	PUNCT
cblr-13858	2498	1	666	666	NUM
cblr-13858	2498	2	howe	howe	NOUN
cblr-13858	2498	3	,	,	PUNCT
cblr-13858	2498	4	supra	supra	PROPN
cblr-13858	2498	5	note	note	NOUN
cblr-13858	2498	6	1	1	NUM
cblr-13858	2498	7	,	,	PUNCT
cblr-13858	2498	8	at	at	ADP
cblr-13858	2498	9	175	175	NUM
cblr-13858	2498	10	.	.	PUNCT
cblr-13858	2498	11	6	6	NUM
cblr-13858	2498	12	surowiecki	surowiecki	ADJ
cblr-13858	2498	13	,	,	PUNCT
cblr-13858	2498	14	supra	supra	ADJ
cblr-13858	2498	15	note	note	NOUN
cblr-13858	2498	16	123	123	NUM
cblr-13858	2498	17	,	,	PUNCT
cblr-13858	2498	18	at	at	ADP
cblr-13858	2498	19	10	10	NUM
cblr-13858	2498	20	.	.	PUNCT
cblr-13858	2498	21	668	668	NUM
cblr-13858	2499	1	i	i	PRON
cblr-13858	2499	2	d.	d.	PROPN
cblr-13858	2499	3	at	at	ADP
cblr-13858	2499	4	42	42	NUM
cblr-13858	2499	5	.	.	PUNCT
cblr-13858	2500	1	669	669	NUM
cblr-13858	2500	2	i	i	PRON
cblr-13858	2500	3	d.	d.	PROPN
cblr-13858	2500	4	at	at	ADP
cblr-13858	2500	5	63	63	NUM
cblr-13858	2500	6	-	-	SYM
cblr-13858	2500	7	64	64	NUM
cblr-13858	2500	8	.	.	PUNCT
cblr-13858	2501	1	no	no	INTJ
cblr-13858	2501	2	.	.	NOUN
cblr-13858	2502	1	1	1	NUM
cblr-13858	2502	2	:	:	SYM
cblr-13858	2502	3	1	1	NUM
cblr-13858	2502	4	]	]	PUNCT
cblr-13858	2502	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2502	6	and	and	CCONJ
cblr-13858	2502	7	securities	security	NOUN
cblr-13858	2502	8	laws	law	NOUN
cblr-13858	2502	9	135	135	NUM
cblr-13858	2502	10	liable	liable	ADJ
cblr-13858	2502	11	for	for	ADP
cblr-13858	2502	12	the	the	DET
cblr-13858	2502	13	content	content	NOUN
cblr-13858	2502	14	of	of	ADP
cblr-13858	2502	15	the	the	DET
cblr-13858	2502	16	comments	comment	NOUN
cblr-13858	2502	17	and	and	CCONJ
cblr-13858	2502	18	should	should	AUX
cblr-13858	2502	19	be	be	AUX
cblr-13858	2502	20	free	free	ADJ
cblr-13858	2502	21	to	to	PART
cblr-13858	2502	22	remove	remove	VERB
cblr-13858	2502	23	irrelevant	irrelevant	ADJ
cblr-13858	2502	24	or	or	CCONJ
cblr-13858	2502	25	fraudulent	fraudulent	ADJ
cblr-13858	2502	26	material	material	NOUN
cblr-13858	2502	27	.	.	PUNCT
cblr-13858	2503	1	2	2	X
cblr-13858	2503	2	.	.	X
cblr-13858	2503	3	no	no	DET
cblr-13858	2503	4	investment	investment	NOUN
cblr-13858	2503	5	advice	advice	NOUN
cblr-13858	2503	6	or	or	CCONJ
cblr-13858	2503	7	recommendations	recommendation	NOUN
cblr-13858	2503	8	a	a	DET
cblr-13858	2503	9	key	key	ADJ
cblr-13858	2503	10	determinant	determinant	NOUN
cblr-13858	2503	11	of	of	ADP
cblr-13858	2503	12	whether	whether	SCONJ
cblr-13858	2503	13	a	a	DET
cblr-13858	2503	14	person	person	NOUN
cblr-13858	2503	15	is	be	AUX
cblr-13858	2503	16	a	a	DET
cblr-13858	2503	17	broker	broker	NOUN
cblr-13858	2503	18	or	or	CCONJ
cblr-13858	2503	19	an	an	DET
cblr-13858	2503	20	investment	investment	NOUN
cblr-13858	2503	21	adviser	adviser	NOUN
cblr-13858	2503	22	is	be	AUX
cblr-13858	2503	23	whether	whether	SCONJ
cblr-13858	2503	24	she	she	PRON
cblr-13858	2503	25	offers	offer	VERB
cblr-13858	2503	26	recommendations	recommendation	NOUN
cblr-13858	2503	27	or	or	CCONJ
cblr-13858	2503	28	investment	investment	NOUN
cblr-13858	2503	29	advice	advice	NOUN
cblr-13858	2503	30	to	to	ADP
cblr-13858	2503	31	investors.6	investors.6	PROPN
cblr-13858	2503	32	7	7	NUM
cblr-13858	2503	33	0	0	NUM
cblr-13858	2503	34	unless	unless	SCONJ
cblr-13858	2503	35	crowdfunding	crowdfunding	NOUN
cblr-13858	2503	36	sites	site	NOUN
cblr-13858	2503	37	are	be	AUX
cblr-13858	2503	38	willing	willing	ADJ
cblr-13858	2503	39	to	to	PART
cblr-13858	2503	40	register	register	VERB
cblr-13858	2503	41	as	as	ADP
cblr-13858	2503	42	brokers	broker	NOUN
cblr-13858	2503	43	or	or	CCONJ
cblr-13858	2503	44	investment	investment	NOUN
cblr-13858	2503	45	advisers	adviser	NOUN
cblr-13858	2503	46	,	,	PUNCT
cblr-13858	2503	47	they	they	PRON
cblr-13858	2503	48	should	should	AUX
cblr-13858	2503	49	not	not	PART
cblr-13858	2503	50	recommend	recommend	VERB
cblr-13858	2503	51	or	or	CCONJ
cblr-13858	2503	52	rate	rate	VERB
cblr-13858	2503	53	the	the	DET
cblr-13858	2503	54	offerings	offering	NOUN
cblr-13858	2503	55	that	that	PRON
cblr-13858	2503	56	appear	appear	VERB
cblr-13858	2503	57	on	on	ADP
cblr-13858	2503	58	the	the	DET
cblr-13858	2503	59	sites	site	NOUN
cblr-13858	2503	60	and	and	CCONJ
cblr-13858	2503	61	should	should	AUX
cblr-13858	2503	62	not	not	PART
cblr-13858	2503	63	advise	advise	VERB
cblr-13858	2503	64	investors	investor	NOUN
cblr-13858	2503	65	about	about	ADP
cblr-13858	2503	66	the	the	DET
cblr-13858	2503	67	merits	merit	NOUN
cblr-13858	2503	68	or	or	CCONJ
cblr-13858	2503	69	risks	risk	NOUN
cblr-13858	2503	70	of	of	ADP
cblr-13858	2503	71	those	those	DET
cblr-13858	2503	72	offerings	offering	NOUN
cblr-13858	2503	73	.	.	PUNCT
cblr-13858	2504	1	without	without	ADP
cblr-13858	2504	2	this	this	DET
cblr-13858	2504	3	restriction	restriction	NOUN
cblr-13858	2504	4	,	,	PUNCT
cblr-13858	2504	5	a	a	DET
cblr-13858	2504	6	crowdfunding	crowdfunding	NOUN
cblr-13858	2504	7	exemption	exemption	NOUN
cblr-13858	2504	8	could	could	AUX
cblr-13858	2504	9	become	become	VERB
cblr-13858	2504	10	a	a	DET
cblr-13858	2504	11	way	way	NOUN
cblr-13858	2504	12	to	to	PART
cblr-13858	2504	13	circumvent	circumvent	VERB
cblr-13858	2504	14	the	the	DET
cblr-13858	2504	15	regulation	regulation	NOUN
cblr-13858	2504	16	applicable	applicable	ADJ
cblr-13858	2504	17	to	to	ADP
cblr-13858	2504	18	ordinary	ordinary	ADJ
cblr-13858	2504	19	brokers	broker	NOUN
cblr-13858	2504	20	and	and	CCONJ
cblr-13858	2504	21	investment	investment	NOUN
cblr-13858	2504	22	advisers	adviser	NOUN
cblr-13858	2504	23	.	.	PUNCT
cblr-13858	2505	1	if	if	SCONJ
cblr-13858	2505	2	crowdfunding	crowdfunde	VERB
cblr-13858	2505	3	sites	site	NOUN
cblr-13858	2505	4	act	act	VERB
cblr-13858	2505	5	as	as	ADP
cblr-13858	2505	6	anything	anything	PRON
cblr-13858	2505	7	other	other	ADJ
cblr-13858	2505	8	than	than	ADP
cblr-13858	2505	9	a	a	DET
cblr-13858	2505	10	neutral	neutral	ADJ
cblr-13858	2505	11	intermediary	intermediary	NOUN
cblr-13858	2505	12	,	,	PUNCT
cblr-13858	2505	13	they	they	PRON
cblr-13858	2505	14	should	should	AUX
cblr-13858	2505	15	have	have	VERB
cblr-13858	2505	16	to	to	PART
cblr-13858	2505	17	face	face	VERB
cblr-13858	2505	18	the	the	DET
cblr-13858	2505	19	regulatory	regulatory	ADJ
cblr-13858	2505	20	consequences	consequence	NOUN
cblr-13858	2505	21	.	.	PUNCT
cblr-13858	2506	1	similarly	similarly	ADV
cblr-13858	2506	2	,	,	PUNCT
cblr-13858	2506	3	if	if	SCONJ
cblr-13858	2506	4	crowdfunding	crowdfunding	NOUN
cblr-13858	2506	5	sites	site	NOUN
cblr-13858	2506	6	set	set	VERB
cblr-13858	2506	7	up	up	ADP
cblr-13858	2506	8	a	a	DET
cblr-13858	2506	9	secondary	secondary	ADJ
cblr-13858	2506	10	trading	trading	NOUN
cblr-13858	2506	11	market	market	NOUN
cblr-13858	2506	12	for	for	ADP
cblr-13858	2506	13	crowdfunded	crowdfunde	VERB
cblr-13858	2506	14	securities	security	NOUN
cblr-13858	2506	15	,	,	PUNCT
cblr-13858	2506	16	the	the	DET
cblr-13858	2506	17	crowdfunding	crowdfunding	NOUN
cblr-13858	2506	18	exemption	exemption	NOUN
cblr-13858	2506	19	should	should	AUX
cblr-13858	2506	20	not	not	PART
cblr-13858	2506	21	free	free	VERB
cblr-13858	2506	22	them	they	PRON
cblr-13858	2506	23	from	from	ADP
cblr-13858	2506	24	having	have	VERB
cblr-13858	2506	25	to	to	PART
cblr-13858	2506	26	register	register	VERB
cblr-13858	2506	27	as	as	ADP
cblr-13858	2506	28	exchanges	exchange	NOUN
cblr-13858	2506	29	or	or	CCONJ
cblr-13858	2506	30	alternative	alternative	ADJ
cblr-13858	2506	31	trading	trading	NOUN
cblr-13858	2506	32	systems	system	NOUN
cblr-13858	2506	33	if	if	SCONJ
cblr-13858	2506	34	such	such	ADJ
cblr-13858	2506	35	registration	registration	NOUN
cblr-13858	2506	36	would	would	AUX
cblr-13858	2506	37	otherwise	otherwise	ADV
cblr-13858	2506	38	be	be	AUX
cblr-13858	2506	39	required	require	VERB
cblr-13858	2506	40	.	.	PUNCT
cblr-13858	2507	1	3	3	X
cblr-13858	2507	2	.	.	X
cblr-13858	2507	3	prohibition	prohibition	NOUN
cblr-13858	2507	4	on	on	ADP
cblr-13858	2507	5	conflicts	conflict	NOUN
cblr-13858	2507	6	of	of	ADP
cblr-13858	2507	7	interests	interest	NOUN
cblr-13858	2507	8	crowdfunding	crowdfunde	VERB
cblr-13858	2507	9	sites	site	NOUN
cblr-13858	2507	10	and	and	CCONJ
cblr-13858	2507	11	their	their	PRON
cblr-13858	2507	12	employees	employee	NOUN
cblr-13858	2507	13	should	should	AUX
cblr-13858	2507	14	not	not	PART
cblr-13858	2507	15	be	be	AUX
cblr-13858	2507	16	allowed	allow	VERB
cblr-13858	2507	17	to	to	PART
cblr-13858	2507	18	invest	invest	VERB
cblr-13858	2507	19	in	in	ADP
cblr-13858	2507	20	the	the	DET
cblr-13858	2507	21	offerings	offering	NOUN
cblr-13858	2507	22	on	on	ADP
cblr-13858	2507	23	their	their	PRON
cblr-13858	2507	24	sites	site	NOUN
cblr-13858	2507	25	,	,	PUNCT
cblr-13858	2507	26	or	or	CCONJ
cblr-13858	2507	27	to	to	PART
cblr-13858	2507	28	have	have	VERB
cblr-13858	2507	29	any	any	DET
cblr-13858	2507	30	financial	financial	ADJ
cblr-13858	2507	31	interest	interest	NOUN
cblr-13858	2507	32	in	in	ADP
cblr-13858	2507	33	the	the	DET
cblr-13858	2507	34	companies	company	NOUN
cblr-13858	2507	35	posting	post	VERB
cblr-13858	2507	36	offerings	offering	NOUN
cblr-13858	2507	37	on	on	ADP
cblr-13858	2507	38	the	the	DET
cblr-13858	2507	39	site	site	NOUN
cblr-13858	2507	40	.	.	PUNCT
cblr-13858	2508	1	some	some	PRON
cblr-13858	2508	2	of	of	ADP
cblr-13858	2508	3	the	the	DET
cblr-13858	2508	4	sec	sec	PROPN
cblr-13858	2508	5	no	no	DET
cblr-13858	2508	6	-	-	PUNCT
cblr-13858	2508	7	action	action	NOUN
cblr-13858	2508	8	letters	letter	NOUN
cblr-13858	2508	9	involving	involve	VERB
cblr-13858	2508	10	matching	match	VERB
cblr-13858	2508	11	services	service	NOUN
cblr-13858	2508	12	condition	condition	NOUN
cblr-13858	2508	13	relief	relief	NOUN
cblr-13858	2508	14	on	on	ADP
cblr-13858	2508	15	the	the	DET
cblr-13858	2508	16	non	non	NOUN
cblr-13858	2508	17	-	-	NOUN
cblr-13858	2508	18	participation	participation	NOUN
cblr-13858	2508	19	of	of	ADP
cblr-13858	2508	20	the	the	DET
cblr-13858	2508	21	site	site	NOUN
cblr-13858	2508	22	and	and	CCONJ
cblr-13858	2508	23	its	its	PRON
cblr-13858	2508	24	employees	employee	NOUN
cblr-13858	2508	25	in	in	ADP
cblr-13858	2508	26	any	any	PRON
cblr-13858	2508	27	of	of	ADP
cblr-13858	2508	28	the	the	DET
cblr-13858	2508	29	posted	post	VERB
cblr-13858	2508	30	offerings	offering	NOUN
cblr-13858	2508	31	.	.	PUNCT
cblr-13858	2509	1	although	although	SCONJ
cblr-13858	2509	2	typically	typically	ADV
cblr-13858	2509	3	unstated	unstate	VERB
cblr-13858	2509	4	by	by	ADP
cblr-13858	2509	5	the	the	DET
cblr-13858	2509	6	sec	sec	PROPN
cblr-13858	2509	7	staff	staff	NOUN
cblr-13858	2509	8	,	,	PUNCT
cblr-13858	2509	9	its	its	PRON
cblr-13858	2509	10	concern	concern	NOUN
cblr-13858	2509	11	is	be	AUX
cblr-13858	2509	12	presumably	presumably	ADV
cblr-13858	2509	13	conflicts	conflict	NOUN
cblr-13858	2509	14	of	of	ADP
cblr-13858	2509	15	interest	interest	NOUN
cblr-13858	2509	16	.	.	PUNCT
cblr-13858	2510	1	if	if	SCONJ
cblr-13858	2510	2	the	the	DET
cblr-13858	2510	3	site	site	NOUN
cblr-13858	2510	4	and	and	CCONJ
cblr-13858	2510	5	its	its	PRON
cblr-13858	2510	6	employees	employee	NOUN
cblr-13858	2510	7	participate	participate	VERB
cblr-13858	2510	8	in	in	ADP
cblr-13858	2510	9	advertised	advertised	ADJ
cblr-13858	2510	10	offerings	offering	NOUN
cblr-13858	2510	11	,	,	PUNCT
cblr-13858	2510	12	they	they	PRON
cblr-13858	2510	13	will	will	AUX
cblr-13858	2510	14	have	have	VERB
cblr-13858	2510	15	a	a	DET
cblr-13858	2510	16	financial	financial	ADJ
cblr-13858	2510	17	interest	interest	NOUN
cblr-13858	2510	18	in	in	ADP
cblr-13858	2510	19	favoring	favor	VERB
cblr-13858	2510	20	or	or	CCONJ
cblr-13858	2510	21	promoting	promote	VERB
cblr-13858	2510	22	particular	particular	ADJ
cblr-13858	2510	23	offerings.6	offerings.6	NOUN
cblr-13858	2510	24	72	72	NUM
cblr-13858	2510	25	if	if	SCONJ
cblr-13858	2510	26	670	670	NUM
cblr-13858	2510	27	see	see	VERB
cblr-13858	2510	28	supra	supra	ADJ
cblr-13858	2510	29	parts	part	NOUN
cblr-13858	2510	30	iv.b.2.c.i	iv.b.2.c.i	NOUN
cblr-13858	2510	31	and	and	CCONJ
cblr-13858	2510	32	iv.c.4	iv.c.4	PROPN
cblr-13858	2510	33	.	.	PUNCT
cblr-13858	2511	1	671	671	NUM
cblr-13858	2511	2	see	see	VERB
cblr-13858	2511	3	,	,	PUNCT
cblr-13858	2511	4	e.g.	e.g.	ADV
cblr-13858	2511	5	,	,	PUNCT
cblr-13858	2511	6	angel	angel	NOUN
cblr-13858	2511	7	capital	capital	PROPN
cblr-13858	2511	8	elec	elec	PROPN
cblr-13858	2511	9	.	.	PUNCT
cblr-13858	2512	1	network	network	PROPN
cblr-13858	2512	2	,	,	PUNCT
cblr-13858	2512	3	sec	sec	PROPN
cblr-13858	2512	4	no	no	DET
cblr-13858	2512	5	-	-	PUNCT
cblr-13858	2512	6	action	action	NOUN
cblr-13858	2512	7	letter	letter	NOUN
cblr-13858	2512	8	,	,	PUNCT
cblr-13858	2512	9	1996	1996	NUM
cblr-13858	2512	10	wl	wl	ADP
cblr-13858	2512	11	636094	636094	NUM
cblr-13858	2512	12	,	,	PUNCT
cblr-13858	2512	13	at	at	ADP
cblr-13858	2512	14	*	*	NOUN
cblr-13858	2512	15	1	1	NUM
cblr-13858	2512	16	(	(	PUNCT
cblr-13858	2512	17	oct	oct	PROPN
cblr-13858	2512	18	.	.	PROPN
cblr-13858	2512	19	25	25	NUM
cblr-13858	2512	20	,	,	PUNCT
cblr-13858	2512	21	1996	1996	NUM
cblr-13858	2512	22	)	)	PUNCT
cblr-13858	2512	23	;	;	PUNCT
cblr-13858	2512	24	atlanta	atlanta	PROPN
cblr-13858	2512	25	econ	econ	PROPN
cblr-13858	2512	26	.	.	PUNCT
cblr-13858	2513	1	dev	dev	PROPN
cblr-13858	2513	2	.	.	PROPN
cblr-13858	2513	3	corp	corp	PROPN
cblr-13858	2513	4	.	.	PROPN
cblr-13858	2513	5	,	,	PUNCT
cblr-13858	2513	6	sec	sec	PROPN
cblr-13858	2513	7	noaction	noaction	NOUN
cblr-13858	2513	8	letter	letter	NOUN
cblr-13858	2513	9	,	,	PUNCT
cblr-13858	2513	10	1987	1987	NUM
cblr-13858	2513	11	wl	wl	NOUN
cblr-13858	2513	12	107835	107835	NUM
cblr-13858	2513	13	,	,	PUNCT
cblr-13858	2513	14	at	at	ADP
cblr-13858	2513	15	*	*	NOUN
cblr-13858	2513	16	1	1	NUM
cblr-13858	2513	17	(	(	PUNCT
cblr-13858	2513	18	feb	feb	PROPN
cblr-13858	2513	19	.	.	PROPN
cblr-13858	2513	20	17	17	NUM
cblr-13858	2513	21	,	,	PUNCT
cblr-13858	2513	22	1987	1987	NUM
cblr-13858	2513	23	)	)	PUNCT
cblr-13858	2513	24	.	.	PUNCT
cblr-13858	2514	1	672	672	NUM
cblr-13858	2514	2	the	the	DET
cblr-13858	2514	3	receipt	receipt	NOUN
cblr-13858	2514	4	of	of	ADP
cblr-13858	2514	5	transaction	transaction	NOUN
cblr-13858	2514	6	-	-	PUNCT
cblr-13858	2514	7	based	base	VERB
cblr-13858	2514	8	compensation	compensation	NOUN
cblr-13858	2514	9	already	already	ADV
cblr-13858	2514	10	gives	give	VERB
cblr-13858	2514	11	crowdfunding	crowdfunding	NOUN
cblr-13858	2514	12	sites	site	NOUN
cblr-13858	2514	13	a	a	DET
cblr-13858	2514	14	financial	financial	ADJ
cblr-13858	2514	15	incentive	incentive	NOUN
cblr-13858	2514	16	to	to	PART
cblr-13858	2514	17	promote	promote	VERB
cblr-13858	2514	18	all	all	PRON
cblr-13858	2514	19	of	of	ADP
cblr-13858	2514	20	the	the	DET
cblr-13858	2514	21	offerings	offering	NOUN
cblr-13858	2515	1	[	[	X
cblr-13858	2515	2	vol	vol	NOUN
cblr-13858	2515	3	.	.	PUNCT
cblr-13858	2516	1	2012136	2012136	NUM
cblr-13858	2516	2	col	col	PROPN
cblr-13858	2516	3	umia	umia	PROPN
cblr-13858	2516	4	b	b	PROPN
cblr-13858	2516	5	usiness	usiness	PROPN
cblr-13858	2516	6	la	la	PROPN
cblr-13858	2516	7	w	w	PROPN
cblr-13858	2516	8	re	re	PROPN
cblr-13858	2516	9	vie	vie	PROPN
cblr-13858	2516	10	w	w	PROPN
cblr-13858	2516	11	recommendations	recommendation	NOUN
cblr-13858	2516	12	and	and	CCONJ
cblr-13858	2516	13	other	other	ADJ
cblr-13858	2516	14	investment	investment	NOUN
cblr-13858	2516	15	advice	advice	NOUN
cblr-13858	2516	16	are	be	AUX
cblr-13858	2516	17	prohibited	prohibit	VERB
cblr-13858	2516	18	,	,	PUNCT
cblr-13858	2516	19	the	the	DET
cblr-13858	2516	20	potential	potential	ADJ
cblr-13858	2516	21	dangers	danger	NOUN
cblr-13858	2516	22	of	of	ADP
cblr-13858	2516	23	-such	-such	ADJ
cblr-13858	2516	24	conflicts	conflict	NOUN
cblr-13858	2516	25	are	be	AUX
cblr-13858	2516	26	reduced	reduce	VERB
cblr-13858	2516	27	.	.	PUNCT
cblr-13858	2517	1	nevertheless	nevertheless	ADV
cblr-13858	2517	2	,	,	PUNCT
cblr-13858	2517	3	a	a	DET
cblr-13858	2517	4	conflict	conflict	NOUN
cblr-13858	2517	5	-	-	PUNCT
cblr-13858	2517	6	of	of	ADP
cblr-13858	2517	7	-	-	PUNCT
cblr-13858	2517	8	interest	interest	NOUN
cblr-13858	2517	9	prohibition	prohibition	NOUN
cblr-13858	2517	10	would	would	AUX
cblr-13858	2517	11	eliminate	eliminate	VERB
cblr-13858	2517	12	any	any	DET
cblr-13858	2517	13	remaining	remain	VERB
cblr-13858	2517	14	incentives	incentive	NOUN
cblr-13858	2517	15	to	to	PART
cblr-13858	2517	16	manipulate	manipulate	VERB
cblr-13858	2517	17	the	the	DET
cblr-13858	2517	18	system	system	NOUN
cblr-13858	2517	19	to	to	PART
cblr-13858	2517	20	promote	promote	VERB
cblr-13858	2517	21	or	or	CCONJ
cblr-13858	2517	22	favor	favor	VERB
cblr-13858	2517	23	particular	particular	ADJ
cblr-13858	2517	24	offerings	offering	NOUN
cblr-13858	2517	25	.	.	PUNCT
cblr-13858	2518	1	such	such	DET
cblr-13858	2518	2	a	a	DET
cblr-13858	2518	3	condition	condition	NOUN
cblr-13858	2518	4	would	would	AUX
cblr-13858	2518	5	also	also	ADV
cblr-13858	2518	6	prevent	prevent	VERB
cblr-13858	2518	7	an	an	DET
cblr-13858	2518	8	issuer	issuer	NOUN
cblr-13858	2518	9	from	from	ADP
cblr-13858	2518	10	setting	set	VERB
cblr-13858	2518	11	up	up	ADP
cblr-13858	2518	12	a	a	DET
cblr-13858	2518	13	sham	sham	ADJ
cblr-13858	2518	14	site	site	NOUN
cblr-13858	2518	15	to	to	PART
cblr-13858	2518	16	promote	promote	VERB
cblr-13858	2518	17	the	the	DET
cblr-13858	2518	18	issuer	issuer	NOUN
cblr-13858	2518	19	's	's	PART
cblr-13858	2518	20	own	own	ADJ
cblr-13858	2518	21	securities	security	NOUN
cblr-13858	2518	22	.	.	PUNCT
cblr-13858	2519	1	whether	whether	SCONJ
cblr-13858	2519	2	or	or	CCONJ
cblr-13858	2519	3	not	not	PART
cblr-13858	2519	4	it	it	PRON
cblr-13858	2519	5	is	be	AUX
cblr-13858	2519	6	necessary	necessary	ADJ
cblr-13858	2519	7	,	,	PUNCT
cblr-13858	2519	8	a	a	DET
cblr-13858	2519	9	conflict	conflict	NOUN
cblr-13858	2519	10	-	-	PUNCT
cblr-13858	2519	11	of	of	ADP
cblr-13858	2519	12	-	-	PUNCT
cblr-13858	2519	13	interest	interest	NOUN
cblr-13858	2519	14	prohibition	prohibition	NOUN
cblr-13858	2519	15	like	like	ADP
cblr-13858	2519	16	this	this	PRON
cblr-13858	2519	17	could	could	AUX
cblr-13858	2519	18	enhance	enhance	VERB
cblr-13858	2519	19	the	the	DET
cblr-13858	2519	20	public	public	ADJ
cblr-13858	2519	21	reputation	reputation	NOUN
cblr-13858	2519	22	of	of	ADP
cblr-13858	2519	23	crowdfunding	crowdfunding	NOUN
cblr-13858	2519	24	sites.673	sites.673	PROPN
cblr-13858	2520	1	such	such	ADJ
cblr-13858	2520	2	restrictions	restriction	NOUN
cblr-13858	2520	3	seem	seem	VERB
cblr-13858	2520	4	relatively	relatively	ADV
cblr-13858	2520	5	harmless	harmless	ADJ
cblr-13858	2520	6	,	,	PUNCT
cblr-13858	2520	7	and	and	CCONJ
cblr-13858	2520	8	the	the	DET
cblr-13858	2520	9	cost	cost	NOUN
cblr-13858	2520	10	to	to	ADP
cblr-13858	2520	11	the	the	DET
cblr-13858	2520	12	site	site	NOUN
cblr-13858	2520	13	of	of	ADP
cblr-13858	2520	14	imposing	impose	VERB
cblr-13858	2520	15	such	such	DET
cblr-13858	2520	16	a	a	DET
cblr-13858	2520	17	policy	policy	NOUN
cblr-13858	2520	18	would	would	AUX
cblr-13858	2520	19	be	be	AUX
cblr-13858	2520	20	small.6	small.6	PROPN
cblr-13858	2520	21	"	"	PUNCT
cblr-13858	2520	22	4	4	NUM
cblr-13858	2520	23	.	.	X
cblr-13858	2520	24	notification	notification	NOUN
cblr-13858	2520	25	to	to	ADP
cblr-13858	2520	26	the	the	DET
cblr-13858	2520	27	sec	sec	PROPN
cblr-13858	2520	28	crowdfunding	crowdfunding	NOUN
cblr-13858	2520	29	sites	site	NOUN
cblr-13858	2520	30	that	that	PRON
cblr-13858	2520	31	meet	meet	VERB
cblr-13858	2520	32	the	the	DET
cblr-13858	2520	33	requirements	requirement	NOUN
cblr-13858	2520	34	of	of	ADP
cblr-13858	2520	35	the	the	DET
cblr-13858	2520	36	exemption	exemption	NOUN
cblr-13858	2520	37	should	should	AUX
cblr-13858	2520	38	not	not	PART
cblr-13858	2520	39	have	have	VERB
cblr-13858	2520	40	to	to	PART
cblr-13858	2520	41	register	register	VERB
cblr-13858	2520	42	as	as	SCONJ
cblr-13858	2520	43	brokers	broker	NOUN
cblr-13858	2520	44	,	,	PUNCT
cblr-13858	2520	45	investment	investment	NOUN
cblr-13858	2520	46	advisers	adviser	NOUN
cblr-13858	2520	47	,	,	PUNCT
cblr-13858	2520	48	or	or	CCONJ
cblr-13858	2520	49	exchanges	exchange	NOUN
cblr-13858	2520	50	,	,	PUNCT
cblr-13858	2520	51	and	and	CCONJ
cblr-13858	2520	52	no	no	DET
cblr-13858	2520	53	other	other	ADJ
cblr-13858	2520	54	special	special	ADJ
cblr-13858	2520	55	registration	registration	NOUN
cblr-13858	2520	56	should	should	AUX
cblr-13858	2520	57	be	be	AUX
cblr-13858	2520	58	required	require	VERB
cblr-13858	2520	59	.	.	PUNCT
cblr-13858	2521	1	however	however	ADV
cblr-13858	2521	2	,	,	PUNCT
cblr-13858	2521	3	sites	site	NOUN
cblr-13858	2521	4	should	should	AUX
cblr-13858	2521	5	have	have	VERB
cblr-13858	2521	6	to	to	PART
cblr-13858	2521	7	notify	notify	VERB
cblr-13858	2521	8	the	the	DET
cblr-13858	2521	9	sec	sec	PROPN
cblr-13858	2521	10	that	that	SCONJ
cblr-13858	2521	11	they	they	PRON
cblr-13858	2521	12	are	be	AUX
cblr-13858	2521	13	acting	act	VERB
cblr-13858	2521	14	as	as	SCONJ
cblr-13858	2521	15	crowdfunding	crowdfunde	VERB
cblr-13858	2521	16	sites	site	NOUN
cblr-13858	2521	17	pursuant	pursuant	VERB
cblr-13858	2521	18	to	to	ADP
cblr-13858	2521	19	the	the	DET
cblr-13858	2521	20	exemption	exemption	NOUN
cblr-13858	2521	21	.	.	PUNCT
cblr-13858	2522	1	the	the	DET
cblr-13858	2522	2	sec	sec	PROPN
cblr-13858	2522	3	,	,	PUNCT
cblr-13858	2522	4	understandably	understandably	ADV
cblr-13858	2522	5	,	,	PUNCT
cblr-13858	2522	6	will	will	AUX
cblr-13858	2522	7	want	want	VERB
cblr-13858	2522	8	to	to	PART
cblr-13858	2522	9	monitor	monitor	VERB
cblr-13858	2522	10	how	how	SCONJ
cblr-13858	2522	11	the	the	DET
cblr-13858	2522	12	crowdfunding	crowdfunding	NOUN
cblr-13858	2522	13	exemption	exemption	NOUN
cblr-13858	2522	14	is	be	AUX
cblr-13858	2522	15	being	be	AUX
cblr-13858	2522	16	used	use	VERB
cblr-13858	2522	17	and	and	CCONJ
cblr-13858	2522	18	whether	whether	SCONJ
cblr-13858	2522	19	sites	site	NOUN
cblr-13858	2522	20	are	be	AUX
cblr-13858	2522	21	in	in	ADP
cblr-13858	2522	22	compliance	compliance	NOUN
cblr-13858	2522	23	.	.	PUNCT
cblr-13858	2523	1	it	it	PRON
cblr-13858	2523	2	can	can	AUX
cblr-13858	2523	3	do	do	VERB
cblr-13858	2523	4	that	that	PRON
cblr-13858	2523	5	only	only	ADV
cblr-13858	2523	6	if	if	SCONJ
cblr-13858	2523	7	it	it	PRON
cblr-13858	2523	8	knows	know	VERB
cblr-13858	2523	9	where	where	SCONJ
cblr-13858	2523	10	crowdfunding	crowdfunding	NOUN
cblr-13858	2523	11	is	be	AUX
cblr-13858	2523	12	occurring	occur	VERB
cblr-13858	2523	13	.	.	PUNCT
cblr-13858	2524	1	a	a	DET
cblr-13858	2524	2	simple	simple	ADJ
cblr-13858	2524	3	notice	notice	NOUN
cblr-13858	2524	4	containing	contain	VERB
cblr-13858	2524	5	the	the	DET
cblr-13858	2524	6	site	site	NOUN
cblr-13858	2524	7	's	's	PART
cblr-13858	2524	8	name	name	NOUN
cblr-13858	2524	9	and	and	CCONJ
cblr-13858	2524	10	url	url	NOUN
cblr-13858	2524	11	would	would	AUX
cblr-13858	2524	12	be	be	AUX
cblr-13858	2524	13	sufficient	sufficient	ADJ
cblr-13858	2524	14	to	to	PART
cblr-13858	2524	15	make	make	VERB
cblr-13858	2524	16	the	the	DET
cblr-13858	2524	17	sec	sec	PROPN
cblr-13858	2524	18	aware	aware	ADJ
cblr-13858	2524	19	of	of	ADP
cblr-13858	2524	20	sites	site	NOUN
cblr-13858	2524	21	that	that	PRON
cblr-13858	2524	22	are	be	AUX
cblr-13858	2524	23	engaged	engage	VERB
cblr-13858	2524	24	in	in	ADP
cblr-13858	2524	25	crowdfunding	crowdfunde	VERB
cblr-13858	2524	26	under	under	ADP
cblr-13858	2524	27	the	the	DET
cblr-13858	2524	28	exemption	exemption	NOUN
cblr-13858	2524	29	.	.	PUNCT
cblr-13858	2525	1	since	since	SCONJ
cblr-13858	2525	2	the	the	DET
cblr-13858	2525	3	sites	site	NOUN
cblr-13858	2525	4	will	will	AUX
cblr-13858	2525	5	be	be	AUX
cblr-13858	2525	6	open	open	ADJ
cblr-13858	2525	7	to	to	ADP
cblr-13858	2525	8	the	the	DET
cblr-13858	2525	9	public	public	NOUN
cblr-13858	2525	10	,	,	PUNCT
cblr-13858	2525	11	including	include	VERB
cblr-13858	2525	12	the	the	DET
cblr-13858	2525	13	sec	sec	PROPN
cblr-13858	2525	14	,	,	PUNCT
cblr-13858	2525	15	the	the	DET
cblr-13858	2525	16	sec	sec	PROPN
cblr-13858	2525	17	will	will	AUX
cblr-13858	2525	18	have	have	VERB
cblr-13858	2525	19	access	access	NOUN
cblr-13858	2525	20	to	to	ADP
cblr-13858	2525	21	all	all	PRON
cblr-13858	2525	22	of	of	ADP
cblr-13858	2525	23	the	the	DET
cblr-13858	2525	24	information	information	NOUN
cblr-13858	2525	25	being	be	AUX
cblr-13858	2525	26	provided	provide	VERB
cblr-13858	2525	27	to	to	ADP
cblr-13858	2525	28	investors	investor	NOUN
cblr-13858	2525	29	.	.	PUNCT
cblr-13858	2526	1	collectively	collectively	ADV
cblr-13858	2526	2	.	.	PUNCT
cblr-13858	2527	1	the	the	DET
cblr-13858	2527	2	concern	concern	NOUN
cblr-13858	2527	3	here	here	ADV
cblr-13858	2527	4	is	be	AUX
cblr-13858	2527	5	the	the	DET
cblr-13858	2527	6	incentive	incentive	NOUN
cblr-13858	2527	7	to	to	PART
cblr-13858	2527	8	promote	promote	VERB
cblr-13858	2527	9	particular	particular	ADJ
cblr-13858	2527	10	offerings	offering	NOUN
cblr-13858	2527	11	in	in	ADP
cblr-13858	2527	12	which	which	PRON
cblr-13858	2527	13	the	the	DET
cblr-13858	2527	14	site	site	NOUN
cblr-13858	2527	15	's	's	PART
cblr-13858	2527	16	operators	operator	NOUN
cblr-13858	2527	17	have	have	AUX
cblr-13858	2527	18	invested	invest	VERB
cblr-13858	2527	19	or	or	CCONJ
cblr-13858	2527	20	plan	plan	VERB
cblr-13858	2527	21	to	to	PART
cblr-13858	2527	22	invest	invest	VERB
cblr-13858	2527	23	.	.	PUNCT
cblr-13858	2528	1	673	673	NUM
cblr-13858	2528	2	of	of	ADP
cblr-13858	2528	3	course	course	NOUN
cblr-13858	2528	4	,	,	PUNCT
cblr-13858	2528	5	if	if	SCONJ
cblr-13858	2528	6	that	that	PRON
cblr-13858	2528	7	is	be	AUX
cblr-13858	2528	8	the	the	DET
cblr-13858	2528	9	case	case	NOUN
cblr-13858	2528	10	,	,	PUNCT
cblr-13858	2528	11	individual	individual	ADJ
cblr-13858	2528	12	sites	site	NOUN
cblr-13858	2528	13	have	have	VERB
cblr-13858	2528	14	a	a	DET
cblr-13858	2528	15	competitive	competitive	ADJ
cblr-13858	2528	16	incentive	incentive	NOUN
cblr-13858	2528	17	to	to	PART
cblr-13858	2528	18	impose	impose	VERB
cblr-13858	2528	19	and	and	CCONJ
cblr-13858	2528	20	promote	promote	VERB
cblr-13858	2528	21	such	such	ADJ
cblr-13858	2528	22	policies	policy	NOUN
cblr-13858	2528	23	,	,	PUNCT
cblr-13858	2528	24	whether	whether	SCONJ
cblr-13858	2528	25	or	or	CCONJ
cblr-13858	2528	26	not	not	PART
cblr-13858	2528	27	the	the	DET
cblr-13858	2528	28	sec	sec	PROPN
cblr-13858	2528	29	requires	require	VERB
cblr-13858	2528	30	them	they	PRON
cblr-13858	2528	31	.	.	PUNCT
cblr-13858	2529	1	674	674	NUM
cblr-13858	2529	2	no	no	DET
cblr-13858	2529	3	employer	employer	NOUN
cblr-13858	2529	4	can	can	AUX
cblr-13858	2529	5	guarantee	guarantee	VERB
cblr-13858	2529	6	that	that	SCONJ
cblr-13858	2529	7	its	its	PRON
cblr-13858	2529	8	employees	employee	NOUN
cblr-13858	2529	9	will	will	AUX
cblr-13858	2529	10	abide	abide	VERB
cblr-13858	2529	11	by	by	ADP
cblr-13858	2529	12	any	any	DET
cblr-13858	2529	13	conflict	conflict	NOUN
cblr-13858	2529	14	-	-	PUNCT
cblr-13858	2529	15	of	of	ADP
cblr-13858	2529	16	-	-	PUNCT
cblr-13858	2529	17	interest	interest	NOUN
cblr-13858	2529	18	policy	policy	NOUN
cblr-13858	2529	19	.	.	PUNCT
cblr-13858	2530	1	if	if	SCONJ
cblr-13858	2530	2	the	the	DET
cblr-13858	2530	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2530	4	site	site	NOUN
cblr-13858	2530	5	has	have	VERB
cblr-13858	2530	6	a	a	DET
cblr-13858	2530	7	conflict	conflict	NOUN
cblr-13858	2530	8	-	-	PUNCT
cblr-13858	2530	9	ofinterest	ofinter	ADJ
cblr-13858	2530	10	policy	policy	NOUN
cblr-13858	2530	11	,	,	PUNCT
cblr-13858	2530	12	informs	inform	VERB
cblr-13858	2530	13	its	its	PRON
cblr-13858	2530	14	employees	employee	NOUN
cblr-13858	2530	15	of	of	ADP
cblr-13858	2530	16	its	its	PRON
cblr-13858	2530	17	policy	policy	NOUN
cblr-13858	2530	18	,	,	PUNCT
cblr-13858	2530	19	and	and	CCONJ
cblr-13858	2530	20	makes	make	VERB
cblr-13858	2530	21	a	a	DET
cblr-13858	2530	22	good	good	ADJ
cblr-13858	2530	23	faith	faith	NOUN
cblr-13858	2530	24	effort	effort	NOUN
cblr-13858	2530	25	to	to	PART
cblr-13858	2530	26	enforce	enforce	VERB
cblr-13858	2530	27	the	the	DET
cblr-13858	2530	28	policy	policy	NOUN
cblr-13858	2530	29	,	,	PUNCT
cblr-13858	2530	30	it	it	PRON
cblr-13858	2530	31	should	should	AUX
cblr-13858	2530	32	qualify	qualify	VERB
cblr-13858	2530	33	for	for	ADP
cblr-13858	2530	34	the	the	DET
cblr-13858	2530	35	exemption	exemption	NOUN
cblr-13858	2530	36	.	.	PUNCT
cblr-13858	2531	1	the	the	DET
cblr-13858	2531	2	site	site	NOUN
cblr-13858	2531	3	should	should	AUX
cblr-13858	2531	4	not	not	PART
cblr-13858	2531	5	be	be	AUX
cblr-13858	2531	6	liable	liable	ADJ
cblr-13858	2531	7	if	if	SCONJ
cblr-13858	2531	8	an	an	DET
cblr-13858	2531	9	employee	employee	NOUN
cblr-13858	2531	10	,	,	PUNCT
cblr-13858	2531	11	without	without	ADP
cblr-13858	2531	12	its	its	PRON
cblr-13858	2531	13	knowledge	knowledge	NOUN
cblr-13858	2531	14	or	or	CCONJ
cblr-13858	2531	15	complicity	complicity	NOUN
cblr-13858	2531	16	,	,	PUNCT
cblr-13858	2531	17	invests	invest	NOUN
cblr-13858	2531	18	in	in	ADP
cblr-13858	2531	19	one	one	NUM
cblr-13858	2531	20	of	of	ADP
cblr-13858	2531	21	the	the	DET
cblr-13858	2531	22	site	site	NOUN
cblr-13858	2531	23	's	's	PART
cblr-13858	2531	24	offerings	offering	NOUN
cblr-13858	2531	25	-	-	PUNCT
cblr-13858	2531	26	for	for	ADP
cblr-13858	2531	27	example	example	NOUN
cblr-13858	2531	28	,	,	PUNCT
cblr-13858	2531	29	through	through	ADP
cblr-13858	2531	30	a	a	DET
cblr-13858	2531	31	false	false	ADJ
cblr-13858	2531	32	identity	identity	NOUN
cblr-13858	2531	33	.	.	PUNCT
cblr-13858	2532	1	cro0wdfunding	cro0wdfunde	VERB
cblr-13858	2532	2	and	and	CCONJ
cblr-13858	2532	3	securities	security	NOUN
cblr-13858	2532	4	la	la	PROPN
cblr-13858	2532	5	ws	ws	PROPN
cblr-13858	2532	6	137no	137no	PROPN
cblr-13858	2532	7	.	.	PUNCT
cblr-13858	2533	1	1	1	NUM
cblr-13858	2533	2	:	:	SYM
cblr-13858	2533	3	1	1	NUM
cblr-13858	2533	4	]	]	PUNCT
cblr-13858	2533	5	this	this	DET
cblr-13858	2533	6	notice	notice	NOUN
cblr-13858	2533	7	should	should	AUX
cblr-13858	2533	8	not	not	PART
cblr-13858	2533	9	trigger	trigger	VERB
cblr-13858	2533	10	any	any	DET
cblr-13858	2533	11	other	other	ADJ
cblr-13858	2533	12	regulatory	regulatory	ADJ
cblr-13858	2533	13	requirements	requirement	NOUN
cblr-13858	2533	14	.	.	PUNCT
cblr-13858	2534	1	the	the	PRON
cblr-13858	2534	2	more	more	ADV
cblr-13858	2534	3	the	the	DET
cblr-13858	2534	4	sec	sec	PROPN
cblr-13858	2534	5	requires	require	VERB
cblr-13858	2534	6	from	from	ADP
cblr-13858	2534	7	these	these	DET
cblr-13858	2534	8	sites	site	NOUN
cblr-13858	2534	9	,	,	PUNCT
cblr-13858	2534	10	the	the	PRON
cblr-13858	2534	11	greater	great	ADJ
cblr-13858	2534	12	the	the	DET
cblr-13858	2534	13	cost	cost	NOUN
cblr-13858	2534	14	that	that	PRON
cblr-13858	2534	15	will	will	AUX
cblr-13858	2534	16	be	be	AUX
cblr-13858	2534	17	passed	pass	VERB
cblr-13858	2534	18	along	along	ADP
cblr-13858	2534	19	to	to	ADP
cblr-13858	2534	20	crowdfunding	crowdfunde	VERB
cblr-13858	2534	21	entrepreneurs	entrepreneur	NOUN
cblr-13858	2534	22	,	,	PUNCT
cblr-13858	2534	23	and	and	CCONJ
cblr-13858	2534	24	the	the	DET
cblr-13858	2534	25	less	less	ADV
cblr-13858	2534	26	effective	effective	ADJ
cblr-13858	2534	27	the	the	DET
cblr-13858	2534	28	crowdfunding	crowdfunding	NOUN
cblr-13858	2534	29	exemption	exemption	NOUN
cblr-13858	2534	30	will	will	AUX
cblr-13858	2534	31	be	be	AUX
cblr-13858	2534	32	.	.	PUNCT
cblr-13858	2535	1	5	5	X
cblr-13858	2535	2	.	.	X
cblr-13858	2535	3	investor	investor	NOUN
cblr-13858	2535	4	education	education	NOUN
cblr-13858	2535	5	many	many	ADJ
cblr-13858	2535	6	of	of	ADP
cblr-13858	2535	7	the	the	DET
cblr-13858	2535	8	investors	investor	NOUN
cblr-13858	2535	9	on	on	ADP
cblr-13858	2535	10	crowdfunding	crowdfunde	VERB
cblr-13858	2535	11	sites	site	NOUN
cblr-13858	2535	12	will	will	AUX
cblr-13858	2535	13	be	be	AUX
cblr-13858	2535	14	unsophisticated.6	unsophisticated.6	PROPN
cblr-13858	2535	15	75	75	NUM
cblr-13858	2535	16	the	the	DET
cblr-13858	2535	17	participation	participation	NOUN
cblr-13858	2535	18	of	of	ADP
cblr-13858	2535	19	so	so	ADV
cblr-13858	2535	20	many	many	ADJ
cblr-13858	2535	21	unsophisticated	unsophisticated	ADJ
cblr-13858	2535	22	investors	investor	NOUN
cblr-13858	2535	23	offers	offer	VERB
cblr-13858	2535	24	a	a	DET
cblr-13858	2535	25	rare	rare	ADJ
cblr-13858	2535	26	investor	investor	NOUN
cblr-13858	2535	27	-	-	PUNCT
cblr-13858	2535	28	education	education	NOUN
cblr-13858	2535	29	opportunity	opportunity	NOUN
cblr-13858	2535	30	.	.	PUNCT
cblr-13858	2536	1	before	before	SCONJ
cblr-13858	2536	2	she	she	PRON
cblr-13858	2536	3	is	be	AUX
cblr-13858	2536	4	given	give	VERB
cblr-13858	2536	5	access	access	NOUN
cblr-13858	2536	6	to	to	ADP
cblr-13858	2536	7	any	any	DET
cblr-13858	2536	8	offerings	offering	NOUN
cblr-13858	2536	9	,	,	PUNCT
cblr-13858	2536	10	each	each	DET
cblr-13858	2536	11	crowdfunding	crowdfunde	VERB
cblr-13858	2536	12	investor	investor	NOUN
cblr-13858	2536	13	should	should	AUX
cblr-13858	2536	14	be	be	AUX
cblr-13858	2536	15	required	require	VERB
cblr-13858	2536	16	to	to	PART
cblr-13858	2536	17	complete	complete	VERB
cblr-13858	2536	18	a	a	DET
cblr-13858	2536	19	brief	brief	ADJ
cblr-13858	2536	20	investor	investor	NOUN
cblr-13858	2536	21	-	-	PUNCT
cblr-13858	2536	22	education	education	NOUN
cblr-13858	2536	23	video	video	NOUN
cblr-13858	2536	24	or	or	CCONJ
cblr-13858	2536	25	quiz	quiz	NOUN
cblr-13858	2536	26	prepared	prepare	VERB
cblr-13858	2536	27	by	by	ADP
cblr-13858	2536	28	the	the	DET
cblr-13858	2536	29	sec.6	sec.6	PROPN
cblr-13858	2536	30	6	6	NUM
cblr-13858	2536	31	this	this	DET
cblr-13858	2536	32	article	article	NOUN
cblr-13858	2536	33	is	be	AUX
cblr-13858	2536	34	not	not	PART
cblr-13858	2536	35	suggesting	suggest	VERB
cblr-13858	2536	36	that	that	SCONJ
cblr-13858	2536	37	the	the	DET
cblr-13858	2536	38	sec	sec	PROPN
cblr-13858	2536	39	certify	certify	NOUN
cblr-13858	2536	40	whether	whether	SCONJ
cblr-13858	2536	41	investors	investor	NOUN
cblr-13858	2536	42	are	be	AUX
cblr-13858	2536	43	qualified	qualified	ADJ
cblr-13858	2536	44	to	to	PART
cblr-13858	2536	45	invest	invest	VERB
cblr-13858	2536	46	or	or	CCONJ
cblr-13858	2536	47	that	that	SCONJ
cblr-13858	2536	48	the	the	DET
cblr-13858	2536	49	education	education	NOUN
cblr-13858	2536	50	be	be	VERB
cblr-13858	2536	51	in	in	ADP
cblr-13858	2536	52	the	the	DET
cblr-13858	2536	53	form	form	NOUN
cblr-13858	2536	54	of	of	ADP
cblr-13858	2536	55	a	a	DET
cblr-13858	2536	56	full	full	ADJ
cblr-13858	2536	57	course	course	NOUN
cblr-13858	2536	58	on	on	ADP
cblr-13858	2536	59	investment	investment	NOUN
cblr-13858	2536	60	.	.	PUNCT
cblr-13858	2536	61	'	'	PUNCT
cblr-13858	2537	1	such	such	ADJ
cblr-13858	2537	2	requirements	requirement	NOUN
cblr-13858	2537	3	would	would	AUX
cblr-13858	2537	4	unduly	unduly	ADV
cblr-13858	2537	5	burden	burden	VERB
cblr-13858	2537	6	crowdfunding	crowdfunding	NOUN
cblr-13858	2537	7	and	and	CCONJ
cblr-13858	2537	8	chill	chill	VERB
cblr-13858	2537	9	its	its	PRON
cblr-13858	2537	10	development	development	NOUN
cblr-13858	2537	11	.	.	PUNCT
cblr-13858	2538	1	this	this	DET
cblr-13858	2538	2	article	article	NOUN
cblr-13858	2538	3	merely	merely	ADV
cblr-13858	2538	4	suggests	suggest	VERB
cblr-13858	2538	5	the	the	DET
cblr-13858	2538	6	use	use	NOUN
cblr-13858	2538	7	of	of	ADP
cblr-13858	2538	8	a	a	DET
cblr-13858	2538	9	brief	brief	ADJ
cblr-13858	2538	10	educational	educational	ADJ
cblr-13858	2538	11	film	film	NOUN
cblr-13858	2538	12	or	or	CCONJ
cblr-13858	2538	13	quiz	quiz	NOUN
cblr-13858	2538	14	with	with	ADP
cblr-13858	2538	15	feedback	feedback	NOUN
cblr-13858	2538	16	that	that	PRON
cblr-13858	2538	17	would	would	AUX
cblr-13858	2538	18	take	take	VERB
cblr-13858	2538	19	no	no	DET
cblr-13858	2538	20	more	more	ADJ
cblr-13858	2538	21	than	than	ADP
cblr-13858	2538	22	five	five	NUM
cblr-13858	2538	23	or	or	CCONJ
cblr-13858	2538	24	ten	ten	NUM
cblr-13858	2538	25	minutes	minute	NOUN
cblr-13858	2538	26	to	to	PART
cblr-13858	2538	27	complete	complete	VERB
cblr-13858	2538	28	.	.	PUNCT
cblr-13858	2539	1	such	such	DET
cblr-13858	2539	2	a	a	DET
cblr-13858	2539	3	short	short	ADJ
cblr-13858	2539	4	presentation	presentation	NOUN
cblr-13858	2539	5	would	would	AUX
cblr-13858	2539	6	not	not	PART
cblr-13858	2539	7	make	make	VERB
cblr-13858	2539	8	crowdfunding	crowdfunding	NOUN
cblr-13858	2539	9	investors	investor	NOUN
cblr-13858	2539	10	sophisticated	sophisticated	ADJ
cblr-13858	2539	11	,	,	PUNCT
cblr-13858	2539	12	but	but	CCONJ
cblr-13858	2539	13	it	it	PRON
cblr-13858	2539	14	would	would	AUX
cblr-13858	2539	15	allow	allow	VERB
cblr-13858	2539	16	the	the	DET
cblr-13858	2539	17	sec	sec	PROPN
cblr-13858	2539	18	to	to	PART
cblr-13858	2539	19	warn	warn	VERB
cblr-13858	2539	20	them	they	PRON
cblr-13858	2539	21	of	of	ADP
cblr-13858	2539	22	the	the	DET
cblr-13858	2539	23	potential	potential	ADJ
cblr-13858	2539	24	pitfalls	pitfall	NOUN
cblr-13858	2539	25	and	and	CCONJ
cblr-13858	2539	26	risks	risk	NOUN
cblr-13858	2539	27	associated	associate	VERB
cblr-13858	2539	28	with	with	ADP
cblr-13858	2539	29	small	small	ADJ
cblr-13858	2539	30	business	business	NOUN
cblr-13858	2539	31	investments	investment	NOUN
cblr-13858	2539	32	.	.	PUNCT
cblr-13858	2540	1	the	the	DET
cblr-13858	2540	2	mechanics	mechanic	NOUN
cblr-13858	2540	3	would	would	AUX
cblr-13858	2540	4	be	be	AUX
cblr-13858	2540	5	relatively	relatively	ADV
cblr-13858	2540	6	simple	simple	ADJ
cblr-13858	2540	7	.	.	PUNCT
cblr-13858	2541	1	when	when	SCONJ
cblr-13858	2541	2	investors	investor	NOUN
cblr-13858	2541	3	first	first	ADV
cblr-13858	2541	4	register	register	VERB
cblr-13858	2541	5	with	with	ADP
cblr-13858	2541	6	the	the	DET
cblr-13858	2541	7	crowdfunding	crowdfunding	NOUN
cblr-13858	2541	8	site	site	NOUN
cblr-13858	2541	9	,	,	PUNCT
cblr-13858	2541	10	they	they	PRON
cblr-13858	2541	11	could	could	AUX
cblr-13858	2541	12	be	be	AUX
cblr-13858	2541	13	linked	link	VERB
cblr-13858	2541	14	to	to	ADP
cblr-13858	2541	15	the	the	DET
cblr-13858	2541	16	sec	sec	PROPN
cblr-13858	2541	17	material	material	NOUN
cblr-13858	2541	18	;	;	PUNCT
cblr-13858	2541	19	they	they	PRON
cblr-13858	2541	20	would	would	AUX
cblr-13858	2541	21	be	be	AUX
cblr-13858	2541	22	returned	return	VERB
cblr-13858	2541	23	to	to	ADP
cblr-13858	2541	24	the	the	DET
cblr-13858	2541	25	crowdfunding	crowdfunding	NOUN
cblr-13858	2541	26	site	site	NOUN
cblr-13858	2541	27	when	when	SCONJ
cblr-13858	2541	28	the	the	DET
cblr-13858	2541	29	educational	educational	ADJ
cblr-13858	2541	30	video	video	NOUN
cblr-13858	2541	31	or	or	CCONJ
cblr-13858	2541	32	quiz	quiz	NOUN
cblr-13858	2541	33	is	be	AUX
cblr-13858	2541	34	67	67	NUM
cblr-13858	2541	35	,	,	PUNCT
cblr-13858	2541	36	see	see	VERB
cblr-13858	2541	37	supra	supra	PROPN
cblr-13858	2541	38	part	part	PROPN
cblr-13858	2541	39	vi.b.2	vi.b.2	PROPN
cblr-13858	2541	40	.	.	PUNCT
cblr-13858	2542	1	676	676	NUM
cblr-13858	2542	2	see	see	VERB
cblr-13858	2542	3	sbe	sbe	PROPN
cblr-13858	2542	4	council	council	NOUN
cblr-13858	2542	5	proposal	proposal	NOUN
cblr-13858	2542	6	,	,	PUNCT
cblr-13858	2542	7	supra	supra	PROPN
cblr-13858	2542	8	note	note	VERB
cblr-13858	2542	9	405	405	NUM
cblr-13858	2542	10	(	(	PUNCT
cblr-13858	2542	11	proposing	propose	VERB
cblr-13858	2542	12	that	that	SCONJ
cblr-13858	2542	13	investors	investor	NOUN
cblr-13858	2542	14	be	be	AUX
cblr-13858	2542	15	required	require	VERB
cblr-13858	2542	16	to	to	PART
cblr-13858	2542	17	take	take	VERB
cblr-13858	2542	18	an	an	DET
cblr-13858	2542	19	online	online	ADJ
cblr-13858	2542	20	test	test	NOUN
cblr-13858	2542	21	prior	prior	ADV
cblr-13858	2542	22	to	to	ADP
cblr-13858	2542	23	investing	investing	NOUN
cblr-13858	2542	24	)	)	PUNCT
cblr-13858	2542	25	.	.	PUNCT
cblr-13858	2543	1	677	677	NUM
cblr-13858	2543	2	others	other	NOUN
cblr-13858	2543	3	have	have	AUX
cblr-13858	2543	4	suggested	suggest	VERB
cblr-13858	2543	5	certification	certification	NOUN
cblr-13858	2543	6	of	of	ADP
cblr-13858	2543	7	investors	investor	NOUN
cblr-13858	2543	8	.	.	PUNCT
cblr-13858	2544	1	see	see	VERB
cblr-13858	2544	2	,	,	PUNCT
cblr-13858	2544	3	e.g.	e.g.	ADV
cblr-13858	2544	4	,	,	PUNCT
cblr-13858	2544	5	choi	choi	NOUN
cblr-13858	2544	6	,	,	PUNCT
cblr-13858	2544	7	supra	supra	PROPN
cblr-13858	2544	8	note	note	PROPN
cblr-13858	2544	9	510	510	NUM
cblr-13858	2544	10	,	,	PUNCT
cblr-13858	2544	11	at	at	ADP
cblr-13858	2544	12	310	310	NUM
cblr-13858	2544	13	-	-	SYM
cblr-13858	2544	14	11	11	NUM
cblr-13858	2544	15	(	(	PUNCT
cblr-13858	2544	16	proposing	propose	VERB
cblr-13858	2544	17	that	that	SCONJ
cblr-13858	2544	18	investors	investor	NOUN
cblr-13858	2544	19	be	be	AUX
cblr-13858	2544	20	licensed	license	VERB
cblr-13858	2544	21	)	)	PUNCT
cblr-13858	2544	22	;	;	PUNCT
cblr-13858	2545	1	finger	finger	NOUN
cblr-13858	2545	2	,	,	PUNCT
cblr-13858	2545	3	supra	supra	PROPN
cblr-13858	2545	4	note	note	NOUN
cblr-13858	2545	5	638	638	NUM
cblr-13858	2545	6	,	,	PUNCT
cblr-13858	2545	7	at	at	ADP
cblr-13858	2545	8	759	759	NUM
cblr-13858	2545	9	-	-	SYM
cblr-13858	2545	10	62	62	NUM
cblr-13858	2545	11	(	(	PUNCT
cblr-13858	2545	12	2009	2009	NUM
cblr-13858	2545	13	)	)	PUNCT
cblr-13858	2545	14	(	(	PUNCT
cblr-13858	2545	15	proposing	propose	VERB
cblr-13858	2545	16	that	that	SCONJ
cblr-13858	2545	17	investors	investor	NOUN
cblr-13858	2545	18	be	be	AUX
cblr-13858	2545	19	licensed	license	VERB
cblr-13858	2545	20	)	)	PUNCT
cblr-13858	2545	21	.	.	PUNCT
cblr-13858	2546	1	see	see	VERB
cblr-13858	2546	2	also	also	ADV
cblr-13858	2546	3	hass	hass	ADV
cblr-13858	2546	4	,	,	PUNCT
cblr-13858	2546	5	supra	supra	PROPN
cblr-13858	2546	6	note	note	NOUN
cblr-13858	2546	7	198	198	NUM
cblr-13858	2546	8	,	,	PUNCT
cblr-13858	2546	9	at	at	ADP
cblr-13858	2546	10	112	112	NUM
cblr-13858	2546	11	(	(	PUNCT
cblr-13858	2546	12	arguing	argue	VERB
cblr-13858	2546	13	that	that	SCONJ
cblr-13858	2546	14	unseasoned	unseasoned	ADJ
cblr-13858	2546	15	issuers	issuer	NOUN
cblr-13858	2546	16	should	should	AUX
cblr-13858	2546	17	have	have	VERB
cblr-13858	2546	18	to	to	PART
cblr-13858	2546	19	make	make	VERB
cblr-13858	2546	20	a	a	DET
cblr-13858	2546	21	suitability	suitability	NOUN
cblr-13858	2546	22	determination	determination	NOUN
cblr-13858	2546	23	before	before	ADP
cblr-13858	2546	24	selling	sell	VERB
cblr-13858	2546	25	securities	security	NOUN
cblr-13858	2546	26	to	to	ADP
cblr-13858	2546	27	unsophisticated	unsophisticated	ADJ
cblr-13858	2546	28	retail	retail	ADJ
cblr-13858	2546	29	investors	investor	NOUN
cblr-13858	2546	30	)	)	PUNCT
cblr-13858	2546	31	.	.	PUNCT
cblr-13858	2547	1	138	138	NUM
cblr-13858	2547	2	columbia	columbia	PROPN
cblr-13858	2547	3	b	b	PROPN
cblr-13858	2547	4	usiness	usiness	PROPN
cblr-13858	2547	5	la	la	PROPN
cblr-13858	2547	6	w	w	PROPN
cblr-13858	2547	7	re	re	PROPN
cblr-13858	2547	8	vie	vie	PROPN
cblr-13858	2547	9	w	w	PROPN
cblr-13858	2548	1	[	[	X
cblr-13858	2548	2	vol	vol	NOUN
cblr-13858	2548	3	.	.	PUNCT
cblr-13858	2548	4	2012	2012	NUM
cblr-13858	2548	5	completed.6	completed.6	NOUN
cblr-13858	2548	6	78	78	NUM
cblr-13858	2548	7	there	there	PRON
cblr-13858	2548	8	is	be	VERB
cblr-13858	2548	9	no	no	DET
cblr-13858	2548	10	easy	easy	ADJ
cblr-13858	2548	11	way	way	NOUN
cblr-13858	2548	12	to	to	PART
cblr-13858	2548	13	guarantee	guarantee	VERB
cblr-13858	2548	14	that	that	SCONJ
cblr-13858	2548	15	investors	investor	NOUN
cblr-13858	2548	16	actually	actually	ADV
cblr-13858	2548	17	pay	pay	VERB
cblr-13858	2548	18	attention	attention	NOUN
cblr-13858	2548	19	-	-	PUNCT
cblr-13858	2548	20	or	or	CCONJ
cblr-13858	2548	21	,	,	PUNCT
cblr-13858	2548	22	in	in	ADP
cblr-13858	2548	23	the	the	DET
cblr-13858	2548	24	case	case	NOUN
cblr-13858	2548	25	of	of	ADP
cblr-13858	2548	26	a	a	DET
cblr-13858	2548	27	video	video	NOUN
cblr-13858	2548	28	,	,	PUNCT
cblr-13858	2548	29	even	even	ADV
cblr-13858	2548	30	watch	watch	VERB
cblr-13858	2548	31	it	it	PRON
cblr-13858	2548	32	.	.	PUNCT
cblr-13858	2549	1	however	however	ADV
cblr-13858	2549	2	,	,	PUNCT
cblr-13858	2549	3	this	this	DET
cblr-13858	2549	4	requirement	requirement	NOUN
cblr-13858	2549	5	would	would	AUX
cblr-13858	2549	6	at	at	ADV
cblr-13858	2549	7	least	least	ADJ
cblr-13858	2549	8	give	give	VERB
cblr-13858	2549	9	unsophisticated	unsophisticated	ADJ
cblr-13858	2549	10	investors	investor	NOUN
cblr-13858	2549	11	an	an	DET
cblr-13858	2549	12	opportunity	opportunity	NOUN
cblr-13858	2549	13	to	to	PART
cblr-13858	2549	14	learn	learn	VERB
cblr-13858	2549	15	something	something	PRON
cblr-13858	2549	16	.	.	PUNCT
cblr-13858	2550	1	those	those	PRON
cblr-13858	2550	2	who	who	PRON
cblr-13858	2550	3	choose	choose	VERB
cblr-13858	2550	4	not	not	PART
cblr-13858	2550	5	to	to	PART
cblr-13858	2550	6	take	take	VERB
cblr-13858	2550	7	advantage	advantage	NOUN
cblr-13858	2550	8	of	of	ADP
cblr-13858	2550	9	this	this	DET
cblr-13858	2550	10	opportunity	opportunity	NOUN
cblr-13858	2550	11	have	have	VERB
cblr-13858	2550	12	only	only	ADV
cblr-13858	2550	13	themselves	themselves	PRON
cblr-13858	2550	14	to	to	PART
cblr-13858	2550	15	blame	blame	VERB
cblr-13858	2550	16	.	.	PUNCT
cblr-13858	2551	1	heminway	heminway	NOUN
cblr-13858	2551	2	and	and	CCONJ
cblr-13858	2551	3	hoffman	hoffman	NOUN
cblr-13858	2551	4	propose	propose	VERB
cblr-13858	2551	5	to	to	PART
cblr-13858	2551	6	accomplish	accomplish	VERB
cblr-13858	2551	7	the	the	DET
cblr-13858	2551	8	same	same	ADJ
cblr-13858	2551	9	objective	objective	NOUN
cblr-13858	2551	10	in	in	ADP
cblr-13858	2551	11	a	a	DET
cblr-13858	2551	12	slightly	slightly	ADV
cblr-13858	2551	13	different	different	ADJ
cblr-13858	2551	14	way	way	NOUN
cblr-13858	2551	15	-	-	PUNCT
cblr-13858	2551	16	by	by	ADP
cblr-13858	2551	17	requiring	require	VERB
cblr-13858	2551	18	each	each	DET
cblr-13858	2551	19	crowdfunding	crowdfunding	NOUN
cblr-13858	2551	20	web	web	NOUN
cblr-13858	2551	21	site	site	NOUN
cblr-13858	2551	22	to	to	PART
cblr-13858	2551	23	include	include	VERB
cblr-13858	2551	24	cautionary	cautionary	ADJ
cblr-13858	2551	25	language	language	NOUN
cblr-13858	2551	26	and	and	CCONJ
cblr-13858	2551	27	certain	certain	ADJ
cblr-13858	2551	28	other	other	ADJ
cblr-13858	2551	29	limited	limited	ADJ
cblr-13858	2551	30	disclosures.6	disclosures.6	NOUN
cblr-13858	2551	31	79	79	NUM
cblr-13858	2551	32	this	this	PRON
cblr-13858	2551	33	is	be	AUX
cblr-13858	2551	34	a	a	DET
cblr-13858	2551	35	plausible	plausible	ADJ
cblr-13858	2551	36	alternative	alternative	NOUN
cblr-13858	2551	37	,	,	PUNCT
cblr-13858	2551	38	but	but	CCONJ
cblr-13858	2551	39	the	the	DET
cblr-13858	2551	40	proposal	proposal	NOUN
cblr-13858	2551	41	set	set	VERB
cblr-13858	2551	42	forth	forth	ADP
cblr-13858	2551	43	above	above	ADV
cblr-13858	2551	44	has	have	VERB
cblr-13858	2551	45	two	two	NUM
cblr-13858	2551	46	advantages	advantage	NOUN
cblr-13858	2551	47	.	.	PUNCT
cblr-13858	2552	1	first	first	ADV
cblr-13858	2552	2	,	,	PUNCT
cblr-13858	2552	3	it	it	PRON
cblr-13858	2552	4	allows	allow	VERB
cblr-13858	2552	5	a	a	DET
cblr-13858	2552	6	disinterested	disinterested	ADJ
cblr-13858	2552	7	party	party	NOUN
cblr-13858	2552	8	-	-	PUNCT
cblr-13858	2552	9	the	the	DET
cblr-13858	2552	10	sec	sec	PROPN
cblr-13858	2552	11	-	-	PUNCT
cblr-13858	2552	12	to	to	PART
cblr-13858	2552	13	control	control	VERB
cblr-13858	2552	14	the	the	DET
cblr-13858	2552	15	disclosure	disclosure	NOUN
cblr-13858	2552	16	and	and	CCONJ
cblr-13858	2552	17	the	the	DET
cblr-13858	2552	18	context	context	NOUN
cblr-13858	2552	19	in	in	ADP
cblr-13858	2552	20	which	which	PRON
cblr-13858	2552	21	it	it	PRON
cblr-13858	2552	22	is	be	AUX
cblr-13858	2552	23	presented	present	VERB
cblr-13858	2552	24	.	.	PUNCT
cblr-13858	2553	1	second	second	ADJ
cblr-13858	2553	2	,	,	PUNCT
cblr-13858	2553	3	cautionary	cautionary	ADJ
cblr-13858	2553	4	language	language	NOUN
cblr-13858	2553	5	and	and	CCONJ
cblr-13858	2553	6	mandatory	mandatory	ADJ
cblr-13858	2553	7	disclosures	disclosure	NOUN
cblr-13858	2553	8	tend	tend	VERB
cblr-13858	2553	9	to	to	PART
cblr-13858	2553	10	be	be	AUX
cblr-13858	2553	11	ignored	ignore	VERB
cblr-13858	2553	12	,	,	PUNCT
cblr-13858	2553	13	as	as	SCONJ
cblr-13858	2553	14	anyone	anyone	PRON
cblr-13858	2553	15	who	who	PRON
cblr-13858	2553	16	has	have	AUX
cblr-13858	2553	17	dealt	deal	VERB
cblr-13858	2553	18	with	with	ADP
cblr-13858	2553	19	the	the	DET
cblr-13858	2553	20	detailed	detailed	ADJ
cblr-13858	2553	21	scroll	scroll	NOUN
cblr-13858	2553	22	-	-	PUNCT
cblr-13858	2553	23	down	down	ADP
cblr-13858	2553	24	licenses	license	NOUN
cblr-13858	2553	25	on	on	ADP
cblr-13858	2553	26	the	the	DET
cblr-13858	2553	27	internet	internet	NOUN
cblr-13858	2553	28	can	can	AUX
cblr-13858	2553	29	attest	attest	VERB
cblr-13858	2553	30	.	.	PUNCT
cblr-13858	2554	1	under	under	ADP
cblr-13858	2554	2	this	this	DET
cblr-13858	2554	3	proposal	proposal	NOUN
cblr-13858	2554	4	,	,	PUNCT
cblr-13858	2554	5	investors	investor	NOUN
cblr-13858	2554	6	would	would	AUX
cblr-13858	2554	7	be	be	AUX
cblr-13858	2554	8	forced	force	VERB
cblr-13858	2554	9	to	to	PART
cblr-13858	2554	10	engage	engage	VERB
cblr-13858	2554	11	on	on	ADP
cblr-13858	2554	12	some	some	DET
cblr-13858	2554	13	level	level	NOUN
cblr-13858	2554	14	with	with	ADP
cblr-13858	2554	15	a	a	DET
cblr-13858	2554	16	non	non	ADJ
cblr-13858	2554	17	-	-	ADJ
cblr-13858	2554	18	graded	grade	VERB
cblr-13858	2554	19	quiz	quiz	NOUN
cblr-13858	2554	20	,	,	PUNCT
cblr-13858	2554	21	even	even	ADV
cblr-13858	2554	22	if	if	SCONJ
cblr-13858	2554	23	they	they	PRON
cblr-13858	2554	24	breeze	breeze	VERB
cblr-13858	2554	25	through	through	ADP
cblr-13858	2554	26	it	it	PRON
cblr-13858	2554	27	.	.	PUNCT
cblr-13858	2555	1	6	6	X
cblr-13858	2555	2	.	.	X
cblr-13858	2555	3	funding	funding	NOUN
cblr-13858	2555	4	goals	goal	NOUN
cblr-13858	2555	5	and	and	CCONJ
cblr-13858	2555	6	withdrawal	withdrawal	NOUN
cblr-13858	2555	7	rights	right	NOUN
cblr-13858	2555	8	entrepreneurs	entrepreneur	NOUN
cblr-13858	2555	9	should	should	AUX
cblr-13858	2555	10	be	be	AUX
cblr-13858	2555	11	required	require	VERB
cblr-13858	2555	12	to	to	PART
cblr-13858	2555	13	include	include	VERB
cblr-13858	2555	14	a	a	DET
cblr-13858	2555	15	funding	funding	NOUN
cblr-13858	2555	16	goal	goal	NOUN
cblr-13858	2555	17	in	in	ADP
cblr-13858	2555	18	their	their	PRON
cblr-13858	2555	19	online	online	ADJ
cblr-13858	2555	20	proposals	proposal	NOUN
cblr-13858	2555	21	and	and	CCONJ
cblr-13858	2555	22	should	should	AUX
cblr-13858	2555	23	not	not	PART
cblr-13858	2555	24	be	be	AUX
cblr-13858	2555	25	allowed	allow	VERB
cblr-13858	2555	26	to	to	PART
cblr-13858	2555	27	close	close	VERB
cblr-13858	2555	28	offerings	offering	NOUN
cblr-13858	2555	29	unless	unless	SCONJ
cblr-13858	2555	30	and	and	CCONJ
cblr-13858	2555	31	until	until	SCONJ
cblr-13858	2555	32	investors	investor	NOUN
cblr-13858	2555	33	have	have	AUX
cblr-13858	2555	34	pledged	pledge	VERB
cblr-13858	2555	35	at	at	ADP
cblr-13858	2555	36	least	least	ADJ
cblr-13858	2555	37	that	that	DET
cblr-13858	2555	38	amount	amount	NOUN
cblr-13858	2555	39	.	.	PUNCT
cblr-13858	2556	1	until	until	ADP
cblr-13858	2556	2	then	then	ADV
cblr-13858	2556	3	,	,	PUNCT
cblr-13858	2556	4	investors	investor	NOUN
cblr-13858	2556	5	should	should	AUX
cblr-13858	2556	6	be	be	AUX
cblr-13858	2556	7	free	free	ADJ
cblr-13858	2556	8	to	to	PART
cblr-13858	2556	9	change	change	VERB
cblr-13858	2556	10	their	their	PRON
cblr-13858	2556	11	minds	mind	NOUN
cblr-13858	2556	12	and	and	CCONJ
cblr-13858	2556	13	withdraw	withdraw	VERB
cblr-13858	2556	14	their	their	PRON
cblr-13858	2556	15	pledges	pledge	NOUN
cblr-13858	2556	16	.	.	PUNCT
cblr-13858	2557	1	these	these	DET
cblr-13858	2557	2	requirements	requirement	NOUN
cblr-13858	2557	3	allow	allow	VERB
cblr-13858	2557	4	the	the	DET
cblr-13858	2557	5	social	social	ADJ
cblr-13858	2557	6	networking	network	VERB
cblr-13858	2557	7	aspect	aspect	NOUN
cblr-13858	2557	8	of	of	ADP
cblr-13858	2557	9	crowdfunding	crowdfunde	VERB
cblr-13858	2557	10	to	to	PART
cblr-13858	2557	11	work	work	VERB
cblr-13858	2557	12	fully	fully	ADV
cblr-13858	2557	13	.	.	PUNCT
cblr-13858	2558	1	investors	investor	NOUN
cblr-13858	2558	2	can	can	AUX
cblr-13858	2558	3	communicate	communicate	VERB
cblr-13858	2558	4	with	with	ADP
cblr-13858	2558	5	each	each	DET
cblr-13858	2558	6	other	other	ADJ
cblr-13858	2558	7	while	while	SCONJ
cblr-13858	2558	8	the	the	DET
cblr-13858	2558	9	offering	offering	NOUN
cblr-13858	2558	10	is	be	AUX
cblr-13858	2558	11	open	open	ADJ
cblr-13858	2558	12	and	and	CCONJ
cblr-13858	2558	13	withdraw	withdraw	VERB
cblr-13858	2558	14	their	their	PRON
cblr-13858	2558	15	bids	bid	NOUN
cblr-13858	2558	16	678	678	NUM
cblr-13858	2558	17	crowdfunding	crowdfunding	NOUN
cblr-13858	2558	18	sites	site	NOUN
cblr-13858	2558	19	would	would	AUX
cblr-13858	2558	20	not	not	PART
cblr-13858	2558	21	be	be	AUX
cblr-13858	2558	22	required	require	VERB
cblr-13858	2558	23	to	to	PART
cblr-13858	2558	24	present	present	VERB
cblr-13858	2558	25	the	the	DET
cblr-13858	2558	26	sec	sec	PROPN
cblr-13858	2558	27	material	material	NOUN
cblr-13858	2558	28	to	to	ADP
cblr-13858	2558	29	investors	investor	NOUN
cblr-13858	2558	30	or	or	CCONJ
cblr-13858	2558	31	to	to	PART
cblr-13858	2558	32	endorse	endorse	VERB
cblr-13858	2558	33	the	the	DET
cblr-13858	2558	34	sec	sec	PROPN
cblr-13858	2558	35	educational	educational	ADJ
cblr-13858	2558	36	materials	material	NOUN
cblr-13858	2558	37	as	as	ADP
cblr-13858	2558	38	their	their	PRON
cblr-13858	2558	39	own	own	ADJ
cblr-13858	2558	40	,	,	PUNCT
cblr-13858	2558	41	only	only	ADV
cblr-13858	2558	42	to	to	PART
cblr-13858	2558	43	limit	limit	VERB
cblr-13858	2558	44	access	access	NOUN
cblr-13858	2558	45	to	to	ADP
cblr-13858	2558	46	investors	investor	NOUN
cblr-13858	2558	47	who	who	PRON
cblr-13858	2558	48	have	have	AUX
cblr-13858	2558	49	viewed	view	VERB
cblr-13858	2558	50	such	such	ADJ
cblr-13858	2558	51	material	material	NOUN
cblr-13858	2558	52	.	.	PUNCT
cblr-13858	2559	1	therefore	therefore	ADV
cblr-13858	2559	2	,	,	PUNCT
cblr-13858	2559	3	any	any	DET
cblr-13858	2559	4	claim	claim	NOUN
cblr-13858	2559	5	that	that	SCONJ
cblr-13858	2559	6	the	the	DET
cblr-13858	2559	7	exemption	exemption	NOUN
cblr-13858	2559	8	compels	compel	VERB
cblr-13858	2559	9	speech	speech	NOUN
cblr-13858	2559	10	in	in	ADP
cblr-13858	2559	11	violation	violation	NOUN
cblr-13858	2559	12	of	of	ADP
cblr-13858	2559	13	the	the	DET
cblr-13858	2559	14	first	first	ADJ
cblr-13858	2559	15	amendment	amendment	NOUN
cblr-13858	2559	16	seems	seem	VERB
cblr-13858	2559	17	weak	weak	ADJ
cblr-13858	2559	18	.	.	PUNCT
cblr-13858	2560	1	see	see	VERB
cblr-13858	2560	2	generally	generally	ADV
cblr-13858	2560	3	erwin	erwin	PROPN
cblr-13858	2560	4	chemerinsky	chemerinsky	PROPN
cblr-13858	2560	5	,	,	PUNCT
cblr-13858	2560	6	constitutional	constitutional	ADJ
cblr-13858	2560	7	law	law	NOUN
cblr-13858	2560	8	:	:	PUNCT
cblr-13858	2560	9	principles	principle	NOUN
cblr-13858	2560	10	and	and	CCONJ
cblr-13858	2560	11	policies	policy	NOUN
cblr-13858	2560	12	1001	1001	NUM
cblr-13858	2560	13	-	-	SYM
cblr-13858	2560	14	02	02	NUM
cblr-13858	2560	15	(	(	PUNCT
cblr-13858	2560	16	4th	4th	ADJ
cblr-13858	2560	17	ed	ed	NOUN
cblr-13858	2560	18	.	.	PROPN
cblr-13858	2560	19	2011	2011	NUM
cblr-13858	2560	20	)	)	PUNCT
cblr-13858	2561	1	(	(	PUNCT
cblr-13858	2561	2	discussing	discuss	VERB
cblr-13858	2561	3	the	the	DET
cblr-13858	2561	4	compelled	compel	VERB
cblr-13858	2561	5	speech	speech	NOUN
cblr-13858	2561	6	issue	issue	NOUN
cblr-13858	2561	7	under	under	ADP
cblr-13858	2561	8	the	the	DET
cblr-13858	2561	9	first	first	ADJ
cblr-13858	2561	10	amendment	amendment	NOUN
cblr-13858	2561	11	)	)	PUNCT
cblr-13858	2561	12	;	;	PUNCT
cblr-13858	2561	13	ronald	ronald	PROPN
cblr-13858	2561	14	rotunda	rotunda	PROPN
cblr-13858	2561	15	&	&	CCONJ
cblr-13858	2561	16	john	john	PROPN
cblr-13858	2561	17	e.	e.	PROPN
cblr-13858	2561	18	nowak	nowak	PROPN
cblr-13858	2561	19	,	,	PUNCT
cblr-13858	2561	20	treatise	treatise	NOUN
cblr-13858	2561	21	on	on	ADP
cblr-13858	2561	22	constitutional	constitutional	ADJ
cblr-13858	2561	23	law	law	NOUN
cblr-13858	2561	24	:	:	PUNCT
cblr-13858	2561	25	substance	substance	NOUN
cblr-13858	2561	26	and	and	CCONJ
cblr-13858	2561	27	procedure	procedure	NOUN
cblr-13858	2561	28	63	63	NUM
cblr-13858	2561	29	-	-	SYM
cblr-13858	2561	30	64	64	NUM
cblr-13858	2561	31	(	(	PUNCT
cblr-13858	2561	32	4th	4th	ADJ
cblr-13858	2561	33	ed	ed	NOUN
cblr-13858	2561	34	.	.	PROPN
cblr-13858	2561	35	2008	2008	NUM
cblr-13858	2561	36	)	)	PUNCT
cblr-13858	2561	37	(	(	PUNCT
cblr-13858	2561	38	same	same	ADJ
cblr-13858	2561	39	)	)	PUNCT
cblr-13858	2561	40	.	.	PUNCT
cblr-13858	2561	41	'	'	PUNCT
cblr-13858	2562	1	see	see	VERB
cblr-13858	2562	2	heminway	heminway	NOUN
cblr-13858	2562	3	&	&	CCONJ
cblr-13858	2562	4	hoffman	hoffman	PROPN
cblr-13858	2562	5	,	,	PUNCT
cblr-13858	2562	6	supra	supra	PROPN
cblr-13858	2562	7	note	note	PROPN
cblr-13858	2562	8	142	142	NUM
cblr-13858	2562	9	,	,	PUNCT
cblr-13858	2562	10	at	at	ADP
cblr-13858	2562	11	957	957	NUM
cblr-13858	2562	12	-	-	SYM
cblr-13858	2562	13	59	59	NUM
cblr-13858	2562	14	.	.	PUNCT
cblr-13858	2563	1	no	no	INTJ
cblr-13858	2563	2	.	.	PUNCT
cblr-13858	2564	1	i:1	i:1	CCONJ
cblr-13858	2564	2	]	]	PUNCT
cblr-13858	2564	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2564	4	and	and	CCONJ
cblr-13858	2564	5	securities	security	NOUN
cblr-13858	2564	6	laws	law	NOUN
cblr-13858	2564	7	139	139	NUM
cblr-13858	2564	8	columbia	columbia	PROPN
cblr-13858	2564	9	business	business	NOUN
cblr-13858	2564	10	law	law	PROPN
cblr-13858	2564	11	review	review	NOUN
cblr-13858	2564	12	if	if	SCONJ
cblr-13858	2564	13	they	they	PRON
cblr-13858	2564	14	conclude	conclude	VERB
cblr-13858	2564	15	,	,	PUNCT
cblr-13858	2564	16	based	base	VERB
cblr-13858	2564	17	on	on	ADP
cblr-13858	2564	18	the	the	DET
cblr-13858	2564	19	information	information	NOUN
cblr-13858	2564	20	shared	share	VERB
cblr-13858	2564	21	,	,	PUNCT
cblr-13858	2564	22	that	that	SCONJ
cblr-13858	2564	23	the	the	DET
cblr-13858	2564	24	offering	offering	NOUN
cblr-13858	2564	25	is	be	AUX
cblr-13858	2564	26	not	not	PART
cblr-13858	2564	27	a	a	DET
cblr-13858	2564	28	suitable	suitable	ADJ
cblr-13858	2564	29	investment	investment	NOUN
cblr-13858	2564	30	.	.	PUNCT
cblr-13858	2565	1	the	the	DET
cblr-13858	2565	2	all	all	ADV
cblr-13858	2565	3	-	-	PUNCT
cblr-13858	2565	4	or	or	CCONJ
cblr-13858	2565	5	-	-	PUNCT
cblr-13858	2565	6	nothing	nothing	PRON
cblr-13858	2565	7	condition	condition	NOUN
cblr-13858	2565	8	also	also	ADV
cblr-13858	2565	9	protects	protect	VERB
cblr-13858	2565	10	the	the	DET
cblr-13858	2565	11	most	most	ADV
cblr-13858	2565	12	optimistic	optimistic	ADJ
cblr-13858	2565	13	and	and	CCONJ
cblr-13858	2565	14	foolhardy	foolhardy	ADJ
cblr-13858	2565	15	investors	investor	NOUN
cblr-13858	2565	16	from	from	ADP
cblr-13858	2565	17	their	their	PRON
cblr-13858	2565	18	own	own	ADJ
cblr-13858	2565	19	improvidence	improvidence	NOUN
cblr-13858	2565	20	.	.	PUNCT
cblr-13858	2566	1	unless	unless	SCONJ
cblr-13858	2566	2	the	the	DET
cblr-13858	2566	3	entrepreneur	entrepreneur	NOUN
cblr-13858	2566	4	can	can	AUX
cblr-13858	2566	5	convince	convince	VERB
cblr-13858	2566	6	other	other	ADJ
cblr-13858	2566	7	,	,	PUNCT
cblr-13858	2566	8	more	more	ADV
cblr-13858	2566	9	rational	rational	ADJ
cblr-13858	2566	10	,	,	PUNCT
cblr-13858	2566	11	investors	investor	NOUN
cblr-13858	2566	12	to	to	PART
cblr-13858	2566	13	participate	participate	VERB
cblr-13858	2566	14	,	,	PUNCT
cblr-13858	2566	15	the	the	DET
cblr-13858	2566	16	foolhardy	foolhardy	NOUN
cblr-13858	2566	17	are	be	AUX
cblr-13858	2566	18	not	not	PART
cblr-13858	2566	19	at	at	ADP
cblr-13858	2566	20	risk	risk	NOUN
cblr-13858	2566	21	.	.	PUNCT
cblr-13858	2566	22	"	"	PUNCT
cblr-13858	2567	1	the	the	DET
cblr-13858	2567	2	all	all	ADV
cblr-13858	2567	3	-	-	PUNCT
cblr-13858	2567	4	or	or	CCONJ
cblr-13858	2567	5	-	-	PUNCT
cblr-13858	2567	6	nothing	nothing	PRON
cblr-13858	2567	7	condition	condition	NOUN
cblr-13858	2567	8	also	also	ADV
cblr-13858	2567	9	forces	force	VERB
cblr-13858	2567	10	the	the	DET
cblr-13858	2567	11	entrepreneur	entrepreneur	NOUN
cblr-13858	2567	12	to	to	PART
cblr-13858	2567	13	carefully	carefully	ADV
cblr-13858	2567	14	consider	consider	VERB
cblr-13858	2567	15	her	her	PRON
cblr-13858	2567	16	financing	financing	NOUN
cblr-13858	2567	17	needs	need	NOUN
cblr-13858	2567	18	before	before	ADP
cblr-13858	2567	19	posting	post	VERB
cblr-13858	2567	20	her	her	PRON
cblr-13858	2567	21	proposal	proposal	NOUN
cblr-13858	2567	22	.	.	PUNCT
cblr-13858	2568	1	since	since	SCONJ
cblr-13858	2568	2	overreaching	overreach	VERB
cblr-13858	2568	3	could	could	AUX
cblr-13858	2568	4	cause	cause	VERB
cblr-13858	2568	5	the	the	DET
cblr-13858	2568	6	offering	offering	NOUN
cblr-13858	2568	7	to	to	PART
cblr-13858	2568	8	fail	fail	VERB
cblr-13858	2568	9	,	,	PUNCT
cblr-13858	2568	10	the	the	DET
cblr-13858	2568	11	entrepreneur	entrepreneur	NOUN
cblr-13858	2568	12	has	have	VERB
cblr-13858	2568	13	an	an	DET
cblr-13858	2568	14	incentive	incentive	NOUN
cblr-13858	2568	15	to	to	PART
cblr-13858	2568	16	request	request	VERB
cblr-13858	2568	17	only	only	ADV
cblr-13858	2568	18	the	the	DET
cblr-13858	2568	19	true	true	ADJ
cblr-13858	2568	20	minimum	minimum	NOUN
cblr-13858	2568	21	amount	amount	NOUN
cblr-13858	2568	22	needed	need	VERB
cblr-13858	2568	23	to	to	PART
cblr-13858	2568	24	fund	fund	VERB
cblr-13858	2568	25	the	the	DET
cblr-13858	2568	26	project	project	NOUN
cblr-13858	2568	27	.	.	PUNCT
cblr-13858	2569	1	this	this	PRON
cblr-13858	2569	2	should	should	AUX
cblr-13858	2569	3	lead	lead	VERB
cblr-13858	2569	4	to	to	ADP
cblr-13858	2569	5	more	more	ADV
cblr-13858	2569	6	careful	careful	ADJ
cblr-13858	2569	7	budgeting	budgeting	NOUN
cblr-13858	2569	8	before	before	SCONJ
cblr-13858	2569	9	the	the	DET
cblr-13858	2569	10	funding	funding	NOUN
cblr-13858	2569	11	request	request	NOUN
cblr-13858	2569	12	is	be	AUX
cblr-13858	2569	13	posted	post	VERB
cblr-13858	2569	14	.	.	PUNCT
cblr-13858	2570	1	some	some	PRON
cblr-13858	2570	2	of	of	ADP
cblr-13858	2570	3	the	the	DET
cblr-13858	2570	4	existing	exist	VERB
cblr-13858	2570	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2570	6	sites	site	NOUN
cblr-13858	2570	7	already	already	ADV
cblr-13858	2570	8	impose	impose	VERB
cblr-13858	2570	9	all	all	DET
cblr-13858	2570	10	-	-	PUNCT
cblr-13858	2570	11	or	or	CCONJ
cblr-13858	2570	12	-	-	PUNCT
cblr-13858	2570	13	nothing	nothing	PRON
cblr-13858	2570	14	requirements	requirement	NOUN
cblr-13858	2570	15	,	,	PUNCT
cblr-13858	2570	16	8	8	NUM
cblr-13858	2570	17	'	'	PUNCT
cblr-13858	2570	18	and	and	CCONJ
cblr-13858	2570	19	such	such	ADJ
cblr-13858	2570	20	requirements	requirement	NOUN
cblr-13858	2570	21	are	be	AUX
cblr-13858	2570	22	common	common	ADJ
cblr-13858	2570	23	in	in	ADP
cblr-13858	2570	24	other	other	ADJ
cblr-13858	2570	25	areas	area	NOUN
cblr-13858	2570	26	of	of	ADP
cblr-13858	2570	27	securities	security	NOUN
cblr-13858	2570	28	regulation	regulation	NOUN
cblr-13858	2570	29	.	.	PUNCT
cblr-13858	2571	1	some	some	DET
cblr-13858	2571	2	securities	security	NOUN
cblr-13858	2571	3	offerings	offering	NOUN
cblr-13858	2571	4	include	include	VERB
cblr-13858	2571	5	minimum	minimum	ADJ
cblr-13858	2571	6	sales	sale	NOUN
cblr-13858	2571	7	conditions.68	conditions.68	NOUN
cblr-13858	2571	8	2	2	NUM
cblr-13858	2571	9	completing	complete	VERB
cblr-13858	2571	10	an	an	DET
cblr-13858	2571	11	offering	offering	NOUN
cblr-13858	2571	12	when	when	SCONJ
cblr-13858	2571	13	that	that	DET
cblr-13858	2571	14	minimum	minimum	NOUN
cblr-13858	2571	15	is	be	AUX
cblr-13858	2571	16	not	not	PART
cblr-13858	2571	17	met	meet	VERB
cblr-13858	2571	18	'	'	PUNCT
cblr-13858	2571	19	this	this	DET
cblr-13858	2571	20	all	all	ADV
cblr-13858	2571	21	-	-	PUNCT
cblr-13858	2571	22	or	or	CCONJ
cblr-13858	2571	23	-	-	PUNCT
cblr-13858	2571	24	nothing	nothing	PRON
cblr-13858	2571	25	restriction	restriction	NOUN
cblr-13858	2571	26	"	"	PUNCT
cblr-13858	2571	27	'	'	PUNCT
cblr-13858	2571	28	imposes	impose	VERB
cblr-13858	2571	29	a	a	DET
cblr-13858	2571	30	lot	lot	NOUN
cblr-13858	2571	31	of	of	ADP
cblr-13858	2571	32	market	market	NOUN
cblr-13858	2571	33	discipline	discipline	NOUN
cblr-13858	2571	34	.	.	PUNCT
cblr-13858	2571	35	.	.	PUNCT
cblr-13858	2572	1	you	you	PRON
cblr-13858	2572	2	can	can	AUX
cblr-13858	2572	3	see	see	VERB
cblr-13858	2572	4	whether	whether	SCONJ
cblr-13858	2572	5	an	an	DET
cblr-13858	2572	6	artist	artist	NOUN
cblr-13858	2572	7	or	or	CCONJ
cblr-13858	2572	8	organizer	organizer	NOUN
cblr-13858	2572	9	can	can	AUX
cblr-13858	2572	10	get	get	VERB
cblr-13858	2572	11	sufficient	sufficient	ADJ
cblr-13858	2572	12	attention	attention	NOUN
cblr-13858	2572	13	to	to	ADP
cblr-13858	2572	14	a	a	DET
cblr-13858	2572	15	project	project	NOUN
cblr-13858	2572	16	.	.	PUNCT
cblr-13858	2572	17	'	'	PUNCT
cblr-13858	2572	18	"	"	PUNCT
cblr-13858	2572	19	tina	tina	PROPN
cblr-13858	2572	20	rosenberg	rosenberg	PROPN
cblr-13858	2572	21	,	,	PUNCT
cblr-13858	2572	22	on	on	ADP
cblr-13858	2572	23	the	the	DET
cblr-13858	2572	24	web	web	NOUN
cblr-13858	2572	25	,	,	PUNCT
cblr-13858	2572	26	a	a	DET
cblr-13858	2572	27	revolution	revolution	NOUN
cblr-13858	2572	28	in	in	ADP
cblr-13858	2572	29	giving	giving	PROPN
cblr-13858	2572	30	,	,	PUNCT
cblr-13858	2572	31	n.y	n.y	PROPN
cblr-13858	2572	32	.	.	PROPN
cblr-13858	2572	33	times	times	PROPN
cblr-13858	2572	34	(	(	PUNCT
cblr-13858	2572	35	mar	mar	PROPN
cblr-13858	2572	36	.	.	PROPN
cblr-13858	2572	37	31	31	NUM
cblr-13858	2572	38	,	,	PUNCT
cblr-13858	2572	39	2011	2011	NUM
cblr-13858	2572	40	)	)	PUNCT
cblr-13858	2572	41	,	,	PUNCT
cblr-13858	2572	42	http://opinionator.blogs.nytimes.com/2011/03/31/onthe-web-a-revolution-in-giving/	http://opinionator.blogs.nytimes.com/2011/03/31/onthe-web-a-revolution-in-giving/	VERB
cblr-13858	2572	43	(	(	PUNCT
cblr-13858	2572	44	quoting	quote	VERB
cblr-13858	2572	45	ethan	ethan	PROPN
cblr-13858	2572	46	zuckerman	zuckerman	PROPN
cblr-13858	2572	47	,	,	PUNCT
cblr-13858	2572	48	senior	senior	ADJ
cblr-13858	2572	49	researcher	researcher	NOUN
cblr-13858	2572	50	at	at	ADP
cblr-13858	2572	51	harvard	harvard	PROPN
cblr-13858	2572	52	's	's	PART
cblr-13858	2572	53	berkman	berkman	PROPN
cblr-13858	2572	54	center	center	PROPN
cblr-13858	2572	55	for	for	ADP
cblr-13858	2572	56	internet	internet	NOUN
cblr-13858	2572	57	and	and	CCONJ
cblr-13858	2572	58	society	society	NOUN
cblr-13858	2572	59	)	)	PUNCT
cblr-13858	2572	60	.	.	PUNCT
cblr-13858	2573	1	"	"	PUNCT
cblr-13858	2573	2	81	81	NUM
cblr-13858	2573	3	see	see	NOUN
cblr-13858	2573	4	,	,	PUNCT
cblr-13858	2573	5	e.g.	e.g.	ADV
cblr-13858	2573	6	,	,	PUNCT
cblr-13858	2573	7	kickstarter	kickstarter	PROPN
cblr-13858	2573	8	basics	basic	NOUN
cblr-13858	2573	9	,	,	PUNCT
cblr-13858	2573	10	kickstarter	kickstarter	NOUN
cblr-13858	2573	11	,	,	PUNCT
cblr-13858	2573	12	http://www.kickstarter	http://www.kickstarter	PROPN
cblr-13858	2573	13	.	.	PUNCT
cblr-13858	2573	14	com	com	NOUN
cblr-13858	2573	15	/	/	SYM
cblr-13858	2573	16	help	help	NOUN
cblr-13858	2573	17	/	/	SYM
cblr-13858	2573	18	faq	faq	NOUN
cblr-13858	2573	19	/	/	SYM
cblr-13858	2573	20	kickstarter%20basics#allofund	kickstarter%20basics#allofund	PROPN
cblr-13858	2573	21	(	(	PUNCT
cblr-13858	2573	22	last	last	ADV
cblr-13858	2573	23	visited	visit	VERB
cblr-13858	2573	24	mar	mar	PROPN
cblr-13858	2573	25	.	.	PROPN
cblr-13858	2573	26	5	5	NUM
cblr-13858	2573	27	,	,	PUNCT
cblr-13858	2573	28	2012	2012	NUM
cblr-13858	2573	29	)	)	PUNCT
cblr-13858	2573	30	;	;	PUNCT
cblr-13858	2573	31	company	company	NOUN
cblr-13858	2573	32	terms	term	NOUN
cblr-13858	2573	33	and	and	CCONJ
cblr-13858	2573	34	conditions	condition	NOUN
cblr-13858	2573	35	for	for	ADP
cblr-13858	2573	36	services	service	NOUN
cblr-13858	2573	37	,	,	PUNCT
cblr-13858	2573	38	profounder	profounder	NOUN
cblr-13858	2573	39	,	,	PUNCT
cblr-13858	2573	40	supra	supra	PROPN
cblr-13858	2573	41	note	note	NOUN
cblr-13858	2573	42	112	112	NUM
cblr-13858	2573	43	(	(	PUNCT
cblr-13858	2573	44	"	"	PUNCT
cblr-13858	2573	45	if	if	SCONJ
cblr-13858	2573	46	the	the	DET
cblr-13858	2573	47	aggregate	aggregate	ADJ
cblr-13858	2573	48	value	value	NOUN
cblr-13858	2573	49	of	of	ADP
cblr-13858	2573	50	pledges	pledge	NOUN
cblr-13858	2573	51	that	that	PRON
cblr-13858	2573	52	company	company	NOUN
cblr-13858	2573	53	receives	receive	VERB
cblr-13858	2573	54	in	in	ADP
cblr-13858	2573	55	its	its	PRON
cblr-13858	2573	56	raise	raise	NOUN
cblr-13858	2573	57	does	do	AUX
cblr-13858	2573	58	not	not	PART
cblr-13858	2573	59	meet	meet	VERB
cblr-13858	2573	60	company	company	NOUN
cblr-13858	2573	61	's	's	PART
cblr-13858	2573	62	raise	raise	NOUN
cblr-13858	2573	63	goal	goal	NOUN
cblr-13858	2573	64	within	within	ADP
cblr-13858	2573	65	the	the	DET
cblr-13858	2573	66	time	time	NOUN
cblr-13858	2573	67	period	period	NOUN
cblr-13858	2573	68	allotted	allotted	ADJ
cblr-13858	2573	69	,	,	PUNCT
cblr-13858	2573	70	profounder	profounder	NOUN
cblr-13858	2573	71	will	will	AUX
cblr-13858	2573	72	no	no	ADV
cblr-13858	2573	73	longer	long	ADV
cblr-13858	2573	74	continue	continue	VERB
cblr-13858	2573	75	to	to	PART
cblr-13858	2573	76	support	support	VERB
cblr-13858	2573	77	the	the	DET
cblr-13858	2573	78	making	making	NOUN
cblr-13858	2573	79	or	or	CCONJ
cblr-13858	2573	80	collection	collection	NOUN
cblr-13858	2573	81	of	of	ADP
cblr-13858	2573	82	pledges	pledge	NOUN
cblr-13858	2573	83	for	for	ADP
cblr-13858	2573	84	that	that	DET
cblr-13858	2573	85	particular	particular	ADJ
cblr-13858	2573	86	raise	raise	NOUN
cblr-13858	2573	87	,	,	PUNCT
cblr-13858	2573	88	pledges	pledge	NOUN
cblr-13858	2573	89	will	will	AUX
cblr-13858	2573	90	not	not	PART
cblr-13858	2573	91	be	be	AUX
cblr-13858	2573	92	converted	convert	VERB
cblr-13858	2573	93	to	to	ADP
cblr-13858	2573	94	investments	investment	NOUN
cblr-13858	2573	95	and	and	CCONJ
cblr-13858	2573	96	funds	fund	NOUN
cblr-13858	2573	97	distributed	distribute	VERB
cblr-13858	2573	98	to	to	ADP
cblr-13858	2573	99	company	company	NOUN
cblr-13858	2573	100	,	,	PUNCT
cblr-13858	2573	101	and	and	CCONJ
cblr-13858	2573	102	no	no	DET
cblr-13858	2573	103	money	money	NOUN
cblr-13858	2573	104	will	will	AUX
cblr-13858	2573	105	change	change	VERB
cblr-13858	2573	106	hands	hand	NOUN
cblr-13858	2573	107	on	on	ADP
cblr-13858	2573	108	the	the	DET
cblr-13858	2573	109	website	website	NOUN
cblr-13858	2573	110	.	.	PUNCT
cblr-13858	2573	111	"	"	PUNCT
cblr-13858	2573	112	)	)	PUNCT
cblr-13858	2573	113	.	.	PUNCT
cblr-13858	2574	1	but	but	CCONJ
cblr-13858	2574	2	cf	cf	NOUN
cblr-13858	2574	3	frequently	frequently	ADV
cblr-13858	2574	4	asked	ask	VERB
cblr-13858	2574	5	questions	question	NOUN
cblr-13858	2574	6	,	,	PUNCT
cblr-13858	2574	7	indiegogo	indiegogo	NOUN
cblr-13858	2574	8	,	,	PUNCT
cblr-13858	2574	9	http://www.indiegogo.com/about/faqs	http://www.indiegogo.com/about/faqs	PRON
cblr-13858	2574	10	(	(	PUNCT
cblr-13858	2574	11	last	last	ADJ
cblr-13858	2574	12	visited	visit	VERB
cblr-13858	2574	13	mar	mar	PROPN
cblr-13858	2574	14	.	.	PROPN
cblr-13858	2574	15	5	5	NUM
cblr-13858	2574	16	,	,	PUNCT
cblr-13858	2574	17	2012	2012	NUM
cblr-13858	2574	18	)	)	PUNCT
cblr-13858	2574	19	(	(	PUNCT
cblr-13858	2574	20	follow	follow	VERB
cblr-13858	2574	21	"	"	PUNCT
cblr-13858	2574	22	creating	create	VERB
cblr-13858	2574	23	a	a	DET
cblr-13858	2574	24	campaign	campaign	NOUN
cblr-13858	2574	25	"	"	PUNCT
cblr-13858	2574	26	hyperlink	hyperlink	NOUN
cblr-13858	2574	27	)	)	PUNCT
cblr-13858	2574	28	(	(	PUNCT
cblr-13858	2574	29	"	"	PUNCT
cblr-13858	2574	30	with	with	ADP
cblr-13858	2574	31	flexible	flexible	ADJ
cblr-13858	2574	32	funding	funding	NOUN
cblr-13858	2574	33	you	you	PRON
cblr-13858	2574	34	still	still	ADV
cblr-13858	2574	35	keep	keep	VERB
cblr-13858	2574	36	the	the	DET
cblr-13858	2574	37	money	money	NOUN
cblr-13858	2574	38	you	you	PRON
cblr-13858	2574	39	raise	raise	VERB
cblr-13858	2574	40	with	with	ADP
cblr-13858	2574	41	your	your	PRON
cblr-13858	2574	42	campaign	campaign	NOUN
cblr-13858	2574	43	.	.	PUNCT
cblr-13858	2575	1	you	you	PRON
cblr-13858	2575	2	will	will	AUX
cblr-13858	2575	3	be	be	AUX
cblr-13858	2575	4	charged	charge	VERB
cblr-13858	2575	5	a	a	DET
cblr-13858	2575	6	9	9	NUM
cblr-13858	2575	7	%	%	NOUN
cblr-13858	2575	8	fee	fee	NOUN
cblr-13858	2575	9	on	on	ADP
cblr-13858	2575	10	the	the	DET
cblr-13858	2575	11	money	money	NOUN
cblr-13858	2575	12	you	you	PRON
cblr-13858	2575	13	raise	raise	VERB
cblr-13858	2575	14	,	,	PUNCT
cblr-13858	2575	15	despite	despite	SCONJ
cblr-13858	2575	16	the	the	DET
cblr-13858	2575	17	unmet	unmet	NOUN
cblr-13858	2575	18	funding	fund	VERB
cblr-13858	2575	19	goal	goal	NOUN
cblr-13858	2575	20	.	.	PUNCT
cblr-13858	2576	1	with	with	ADP
cblr-13858	2576	2	fixed	fix	VERB
cblr-13858	2576	3	funding	funding	NOUN
cblr-13858	2576	4	,	,	PUNCT
cblr-13858	2576	5	indiegogo	indiegogo	PROPN
cblr-13858	2576	6	will	will	AUX
cblr-13858	2576	7	refund	refund	VERB
cblr-13858	2576	8	all	all	DET
cblr-13858	2576	9	your	your	PRON
cblr-13858	2576	10	campaign	campaign	NOUN
cblr-13858	2576	11	's	's	PART
cblr-13858	2576	12	contributions	contribution	NOUN
cblr-13858	2576	13	if	if	SCONJ
cblr-13858	2576	14	your	your	PRON
cblr-13858	2576	15	goal	goal	NOUN
cblr-13858	2576	16	is	be	AUX
cblr-13858	2576	17	unmet	unmet	NOUN
cblr-13858	2576	18	,	,	PUNCT
cblr-13858	2576	19	and	and	CCONJ
cblr-13858	2576	20	you	you	PRON
cblr-13858	2576	21	will	will	AUX
cblr-13858	2576	22	not	not	PART
cblr-13858	2576	23	be	be	AUX
cblr-13858	2576	24	charged	charge	VERB
cblr-13858	2576	25	any	any	DET
cblr-13858	2576	26	fees	fee	NOUN
cblr-13858	2576	27	.	.	PUNCT
cblr-13858	2576	28	"	"	PUNCT
cblr-13858	2576	29	)	)	PUNCT
cblr-13858	2576	30	.	.	PUNCT
cblr-13858	2577	1	682	682	NUM
cblr-13858	2577	2	see	see	VERB
cblr-13858	2577	3	regulation	regulation	NOUN
cblr-13858	2577	4	s	s	NOUN
cblr-13858	2577	5	-	-	PUNCT
cblr-13858	2577	6	k	k	ADJ
cblr-13858	2577	7	,	,	PUNCT
cblr-13858	2577	8	item	item	NOUN
cblr-13858	2577	9	501(a)(8)(ii	501(a)(8)(ii	NUM
cblr-13858	2577	10	)	)	PUNCT
cblr-13858	2577	11	,	,	PUNCT
cblr-13858	2577	12	example	example	NOUN
cblr-13858	2577	13	b	b	X
cblr-13858	2577	14	,	,	PUNCT
cblr-13858	2577	15	17	17	NUM
cblr-13858	2577	16	c.f.r	c.f.r	NOUN
cblr-13858	2577	17	.	.	PUNCT
cblr-13858	2578	1	§	§	PROPN
cblr-13858	2578	2	229.501(a)(8)(ii	229.501(a)(8)(ii	NUM
cblr-13858	2578	3	)	)	PUNCT
cblr-13858	2578	4	(	(	PUNCT
cblr-13858	2578	5	2012	2012	NUM
cblr-13858	2578	6	)	)	PUNCT
cblr-13858	2578	7	(	(	PUNCT
cblr-13858	2578	8	requiring	require	VERB
cblr-13858	2578	9	that	that	SCONJ
cblr-13858	2578	10	any	any	DET
cblr-13858	2578	11	such	such	ADJ
cblr-13858	2578	12	conditions	condition	NOUN
cblr-13858	2578	13	be	be	AUX
cblr-13858	2578	14	disclosed	disclose	VERB
cblr-13858	2578	15	on	on	ADP
cblr-13858	2578	16	the	the	DET
cblr-13858	2578	17	front	front	ADJ
cblr-13858	2578	18	cover	cover	NOUN
cblr-13858	2578	19	of	of	ADP
cblr-13858	2578	20	the	the	DET
cblr-13858	2578	21	registration	registration	NOUN
cblr-13858	2578	22	statement	statement	NOUN
cblr-13858	2578	23	)	)	PUNCT
cblr-13858	2578	24	.	.	PUNCT
cblr-13858	2579	1	140	140	NUM
cblr-13858	2580	1	[	[	X
cblr-13858	2580	2	vol	vol	NOUN
cblr-13858	2580	3	.	.	PUNCT
cblr-13858	2580	4	2012	2012	NUM
cblr-13858	2580	5	constitutes	constitute	VERB
cblr-13858	2580	6	securities	security	NOUN
cblr-13858	2580	7	fraud	fraud	NOUN
cblr-13858	2580	8	.	.	PUNCT
cblr-13858	2580	9	'	'	PUNCT
cblr-13858	2581	1	since	since	SCONJ
cblr-13858	2581	2	no	no	DET
cblr-13858	2581	3	contract	contract	NOUN
cblr-13858	2581	4	of	of	ADP
cblr-13858	2581	5	sale	sale	NOUN
cblr-13858	2581	6	is	be	AUX
cblr-13858	2581	7	allowed	allow	VERB
cblr-13858	2581	8	before	before	SCONJ
cblr-13858	2581	9	a	a	DET
cblr-13858	2581	10	registration	registration	NOUN
cblr-13858	2581	11	statement	statement	NOUN
cblr-13858	2581	12	is	be	AUX
cblr-13858	2581	13	effective,6	effective,6	NOUN
cblr-13858	2581	14	investors	investor	NOUN
cblr-13858	2581	15	who	who	PRON
cblr-13858	2581	16	express	express	VERB
cblr-13858	2581	17	interest	interest	NOUN
cblr-13858	2581	18	before	before	ADP
cblr-13858	2581	19	that	that	DET
cblr-13858	2581	20	time	time	NOUN
cblr-13858	2581	21	are	be	AUX
cblr-13858	2581	22	free	free	ADJ
cblr-13858	2581	23	to	to	PART
cblr-13858	2581	24	change	change	VERB
cblr-13858	2581	25	their	their	PRON
cblr-13858	2581	26	minds	mind	NOUN
cblr-13858	2581	27	and	and	CCONJ
cblr-13858	2581	28	withdraw	withdraw	VERB
cblr-13858	2581	29	their	their	PRON
cblr-13858	2581	30	offers	offer	NOUN
cblr-13858	2581	31	.	.	PUNCT
cblr-13858	2582	1	similarly	similarly	ADV
cblr-13858	2582	2	,	,	PUNCT
cblr-13858	2582	3	shareholders	shareholder	NOUN
cblr-13858	2582	4	whose	whose	DET
cblr-13858	2582	5	shares	share	NOUN
cblr-13858	2582	6	are	be	AUX
cblr-13858	2582	7	subject	subject	ADJ
cblr-13858	2582	8	to	to	ADP
cblr-13858	2582	9	a	a	DET
cblr-13858	2582	10	tender	tender	NOUN
cblr-13858	2582	11	offer	offer	NOUN
cblr-13858	2582	12	are	be	AUX
cblr-13858	2582	13	free	free	ADJ
cblr-13858	2582	14	to	to	PART
cblr-13858	2582	15	withdraw	withdraw	VERB
cblr-13858	2582	16	their	their	PRON
cblr-13858	2582	17	tenders	tender	NOUN
cblr-13858	2582	18	at	at	ADP
cblr-13858	2582	19	any	any	DET
cblr-13858	2582	20	time	time	NOUN
cblr-13858	2582	21	prior	prior	ADV
cblr-13858	2582	22	to	to	ADP
cblr-13858	2582	23	closing	closing	NOUN
cblr-13858	2582	24	of	of	ADP
cblr-13858	2582	25	the	the	DET
cblr-13858	2582	26	offer	offer	NOUN
cblr-13858	2582	27	.	.	PUNCT
cblr-13858	2582	28	'	'	PUNCT
cblr-13858	2583	1	crowdfunding	crowdfunde	VERB
cblr-13858	2583	2	investors	investor	NOUN
cblr-13858	2583	3	should	should	AUX
cblr-13858	2583	4	receive	receive	VERB
cblr-13858	2583	5	similar	similar	ADJ
cblr-13858	2583	6	protection.686	protection.686	ADJ
cblr-13858	2583	7	c.	c.	NOUN
cblr-13858	2583	8	other	other	ADJ
cblr-13858	2583	9	possible	possible	ADJ
cblr-13858	2583	10	requirements	requirement	NOUN
cblr-13858	2583	11	1	1	NUM
cblr-13858	2583	12	.	.	PUNCT
cblr-13858	2584	1	non	non	ADJ
cblr-13858	2584	2	-	-	ADJ
cblr-13858	2584	3	profit	profit	ADJ
cblr-13858	2584	4	versus	versus	ADP
cblr-13858	2584	5	profit	profit	NOUN
cblr-13858	2584	6	status	status	NOUN
cblr-13858	2584	7	crowdfunding	crowdfunding	NOUN
cblr-13858	2584	8	sites	site	NOUN
cblr-13858	2584	9	should	should	AUX
cblr-13858	2584	10	not	not	PART
cblr-13858	2584	11	be	be	AUX
cblr-13858	2584	12	required	require	VERB
cblr-13858	2584	13	to	to	PART
cblr-13858	2584	14	have	have	VERB
cblr-13858	2584	15	nonprofit	nonprofit	ADJ
cblr-13858	2584	16	status	status	NOUN
cblr-13858	2584	17	.	.	PUNCT
cblr-13858	2585	1	the	the	DET
cblr-13858	2585	2	sec	sec	PROPN
cblr-13858	2585	3	no	no	DET
cblr-13858	2585	4	-	-	PUNCT
cblr-13858	2585	5	action	action	NOUN
cblr-13858	2585	6	letters	letter	NOUN
cblr-13858	2585	7	applying	apply	VERB
cblr-13858	2585	8	the	the	DET
cblr-13858	2585	9	definitions	definition	NOUN
cblr-13858	2585	10	of	of	ADP
cblr-13858	2585	11	broker	broker	NOUN
cblr-13858	2585	12	and	and	CCONJ
cblr-13858	2585	13	investment	investment	NOUN
cblr-13858	2585	14	adviser	adviser	NOUN
cblr-13858	2585	15	to	to	ADP
cblr-13858	2585	16	internet	internet	NOUN
cblr-13858	2585	17	matching	matching	NOUN
cblr-13858	2585	18	sites	site	NOUN
cblr-13858	2585	19	have	have	AUX
cblr-13858	2585	20	often	often	ADV
cblr-13858	2585	21	focused	focus	VERB
cblr-13858	2585	22	on	on	ADP
cblr-13858	2585	23	the	the	DET
cblr-13858	2585	24	provider	provider	NOUN
cblr-13858	2585	25	's	's	PART
cblr-13858	2585	26	nonprofit	nonprofit	ADJ
cblr-13858	2585	27	status.8	status.8	PROPN
cblr-13858	2585	28	a	a	DET
cblr-13858	2585	29	for	for	ADP
cblr-13858	2585	30	-	-	PUNCT
cblr-13858	2585	31	profit	profit	NOUN
cblr-13858	2585	32	provider	provider	NOUN
cblr-13858	2585	33	obviously	obviously	ADV
cblr-13858	2585	34	has	have	VERB
cblr-13858	2585	35	a	a	DET
cblr-13858	2585	36	stronger	strong	ADJ
cblr-13858	2585	37	incentive	incentive	NOUN
cblr-13858	2585	38	to	to	PART
cblr-13858	2585	39	push	push	VERB
cblr-13858	2585	40	investors	investor	NOUN
cblr-13858	2585	41	and	and	CCONJ
cblr-13858	2585	42	entrepreneurs	entrepreneur	NOUN
cblr-13858	2585	43	to	to	PART
cblr-13858	2585	44	complete	complete	VERB
cblr-13858	2585	45	the	the	DET
cblr-13858	2585	46	proposed	propose	VERB
cblr-13858	2585	47	transactions	transaction	NOUN
cblr-13858	2585	48	,	,	PUNCT
cblr-13858	2585	49	even	even	ADV
cblr-13858	2585	50	if	if	SCONJ
cblr-13858	2585	51	those	those	DET
cblr-13858	2585	52	transactions	transaction	NOUN
cblr-13858	2585	53	are	be	AUX
cblr-13858	2585	54	not	not	PART
cblr-13858	2585	55	in	in	ADP
cblr-13858	2585	56	the	the	DET
cblr-13858	2585	57	investors	investor	NOUN
cblr-13858	2585	58	'	'	PART
cblr-13858	2585	59	best	good	ADJ
cblr-13858	2585	60	interests	interest	NOUN
cblr-13858	2585	61	.	.	PUNCT
cblr-13858	2585	62	"	"	PUNCT
cblr-13858	2586	1	this	this	PRON
cblr-13858	2586	2	is	be	AUX
cblr-13858	2586	3	especially	especially	ADV
cblr-13858	2586	4	true	true	ADJ
cblr-13858	2586	5	"	"	PUNCT
cblr-13858	2586	6	exchange	exchange	NOUN
cblr-13858	2586	7	act	act	NOUN
cblr-13858	2586	8	rule	rule	VERB
cblr-13858	2586	9	10b-9(a)(2	10b-9(a)(2	NOUN
cblr-13858	2586	10	)	)	PUNCT
cblr-13858	2586	11	,	,	PUNCT
cblr-13858	2586	12	17	17	NUM
cblr-13858	2586	13	c.f.r	c.f.r	NOUN
cblr-13858	2586	14	.	.	PUNCT
cblr-13858	2587	1	§	§	PROPN
cblr-13858	2587	2	240.10b-9(a)(2	240.10b-9(a)(2	NUM
cblr-13858	2587	3	)	)	PUNCT
cblr-13858	2587	4	(	(	PUNCT
cblr-13858	2587	5	2012	2012	NUM
cblr-13858	2587	6	)	)	PUNCT
cblr-13858	2587	7	.	.	PUNCT
cblr-13858	2588	1	see	see	VERB
cblr-13858	2588	2	also	also	ADV
cblr-13858	2588	3	in	in	ADP
cblr-13858	2588	4	the	the	DET
cblr-13858	2588	5	matter	matter	NOUN
cblr-13858	2588	6	of	of	ADP
cblr-13858	2588	7	richard	richard	PROPN
cblr-13858	2588	8	h.	h.	PROPN
cblr-13858	2588	9	morrow	morrow	PROPN
cblr-13858	2588	10	,	,	PUNCT
cblr-13858	2588	11	exchange	exchange	PROPN
cblr-13858	2588	12	act	act	PROPN
cblr-13858	2588	13	release	release	VERB
cblr-13858	2588	14	no	no	NOUN
cblr-13858	2588	15	.	.	NOUN
cblr-13858	2588	16	40,392	40,392	NUM
cblr-13858	2588	17	(	(	PUNCT
cblr-13858	2588	18	sept	sept	PROPN
cblr-13858	2588	19	.	.	PROPN
cblr-13858	2588	20	2	2	NUM
cblr-13858	2588	21	,	,	PUNCT
cblr-13858	2588	22	1998	1998	NUM
cblr-13858	2588	23	)	)	PUNCT
cblr-13858	2588	24	(	(	PUNCT
cblr-13858	2588	25	violation	violation	NOUN
cblr-13858	2588	26	to	to	PART
cblr-13858	2588	27	sell	sell	VERB
cblr-13858	2588	28	securities	security	NOUN
cblr-13858	2588	29	after	after	ADP
cblr-13858	2588	30	the	the	DET
cblr-13858	2588	31	deadline	deadline	NOUN
cblr-13858	2588	32	set	set	VERB
cblr-13858	2588	33	in	in	ADP
cblr-13858	2588	34	the	the	DET
cblr-13858	2588	35	offering	offering	NOUN
cblr-13858	2588	36	document	document	NOUN
cblr-13858	2588	37	for	for	ADP
cblr-13858	2588	38	raising	raise	VERB
cblr-13858	2588	39	the	the	DET
cblr-13858	2588	40	required	require	VERB
cblr-13858	2588	41	minimum	minimum	NOUN
cblr-13858	2588	42	amount	amount	NOUN
cblr-13858	2588	43	)	)	PUNCT
cblr-13858	2588	44	.	.	PUNCT
cblr-13858	2589	1	m	m	PROPN
cblr-13858	2589	2	see	see	VERB
cblr-13858	2589	3	securities	security	NOUN
cblr-13858	2589	4	act	act	NOUN
cblr-13858	2589	5	of	of	ADP
cblr-13858	2589	6	1933	1933	NUM
cblr-13858	2589	7	§	§	PROPN
cblr-13858	2589	8	5(a)(1	5(a)(1	NUM
cblr-13858	2589	9	)	)	PUNCT
cblr-13858	2589	10	,	,	PUNCT
cblr-13858	2589	11	15	15	NUM
cblr-13858	2589	12	u.s.c	u.s.c	ADJ
cblr-13858	2589	13	.	.	PUNCT
cblr-13858	2590	1	§	§	PROPN
cblr-13858	2590	2	77e(a)(1	77e(a)(1	NUM
cblr-13858	2590	3	)	)	PUNCT
cblr-13858	2590	4	(	(	PUNCT
cblr-13858	2590	5	2010	2010	NUM
cblr-13858	2590	6	)	)	PUNCT
cblr-13858	2590	7	.	.	PUNCT
cblr-13858	2591	1	exchange	exchange	PROPN
cblr-13858	2591	2	act	act	PROPN
cblr-13858	2591	3	rule	rule	VERB
cblr-13858	2591	4	14d-7(a)(1	14d-7(a)(1	PROPN
cblr-13858	2591	5	)	)	PUNCT
cblr-13858	2591	6	,	,	PUNCT
cblr-13858	2591	7	17	17	NUM
cblr-13858	2591	8	c.f.r	c.f.r	NOUN
cblr-13858	2591	9	.	.	PUNCT
cblr-13858	2592	1	§	§	PROPN
cblr-13858	2592	2	240.14d-7(a)(1	240.14d-7(a)(1	NUM
cblr-13858	2592	3	)	)	PUNCT
cblr-13858	2592	4	(	(	PUNCT
cblr-13858	2592	5	2012	2012	NUM
cblr-13858	2592	6	)	)	PUNCT
cblr-13858	2592	7	.	.	PUNCT
cblr-13858	2593	1	6	6	NUM
cblr-13858	2593	2	another	another	DET
cblr-13858	2593	3	possibility	possibility	NOUN
cblr-13858	2593	4	would	would	AUX
cblr-13858	2593	5	be	be	AUX
cblr-13858	2593	6	to	to	PART
cblr-13858	2593	7	impose	impose	VERB
cblr-13858	2593	8	a	a	DET
cblr-13858	2593	9	minimum	minimum	ADJ
cblr-13858	2593	10	time	time	NOUN
cblr-13858	2593	11	period	period	NOUN
cblr-13858	2593	12	that	that	PRON
cblr-13858	2593	13	offerings	offering	NOUN
cblr-13858	2593	14	must	must	AUX
cblr-13858	2593	15	be	be	AUX
cblr-13858	2593	16	open	open	ADJ
cblr-13858	2593	17	before	before	SCONJ
cblr-13858	2593	18	they	they	PRON
cblr-13858	2593	19	may	may	AUX
cblr-13858	2593	20	close	close	VERB
cblr-13858	2593	21	,	,	PUNCT
cblr-13858	2593	22	similar	similar	ADJ
cblr-13858	2593	23	to	to	ADP
cblr-13858	2593	24	the	the	DET
cblr-13858	2593	25	minimum	minimum	ADJ
cblr-13858	2593	26	offering	offering	NOUN
cblr-13858	2593	27	period	period	NOUN
cblr-13858	2593	28	the	the	DET
cblr-13858	2593	29	sec	sec	PROPN
cblr-13858	2593	30	requires	require	VERB
cblr-13858	2593	31	for	for	ADP
cblr-13858	2593	32	tender	tender	ADJ
cblr-13858	2593	33	offers	offer	NOUN
cblr-13858	2593	34	.	.	PUNCT
cblr-13858	2594	1	see	see	VERB
cblr-13858	2594	2	17	17	NUM
cblr-13858	2594	3	c.f.r	c.f.r	NOUN
cblr-13858	2594	4	.	.	PUNCT
cblr-13858	2595	1	§	§	PROPN
cblr-13858	2595	2	240.143	240.143	NUM
cblr-13858	2595	3	-	-	SYM
cblr-13858	2595	4	1(a	1(a	NUM
cblr-13858	2595	5	)	)	PUNCT
cblr-13858	2595	6	.	.	PUNCT
cblr-13858	2596	1	in	in	ADP
cblr-13858	2596	2	many	many	ADJ
cblr-13858	2596	3	cases	case	NOUN
cblr-13858	2596	4	,	,	PUNCT
cblr-13858	2596	5	it	it	PRON
cblr-13858	2596	6	will	will	AUX
cblr-13858	2596	7	take	take	VERB
cblr-13858	2596	8	time	time	NOUN
cblr-13858	2596	9	for	for	SCONJ
cblr-13858	2596	10	the	the	DET
cblr-13858	2596	11	entrepreneur	entrepreneur	NOUN
cblr-13858	2596	12	to	to	PART
cblr-13858	2596	13	convince	convince	VERB
cblr-13858	2596	14	sufficient	sufficient	ADJ
cblr-13858	2596	15	investors	investor	NOUN
cblr-13858	2596	16	to	to	PART
cblr-13858	2596	17	meet	meet	VERB
cblr-13858	2596	18	the	the	DET
cblr-13858	2596	19	entrepreneur	entrepreneur	NOUN
cblr-13858	2596	20	's	's	PART
cblr-13858	2596	21	funding	funding	NOUN
cblr-13858	2596	22	goal	goal	NOUN
cblr-13858	2596	23	;	;	PUNCT
cblr-13858	2596	24	no	no	DET
cblr-13858	2596	25	regulatory	regulatory	ADJ
cblr-13858	2596	26	minimum	minimum	NOUN
cblr-13858	2596	27	is	be	AUX
cblr-13858	2596	28	needed	need	VERB
cblr-13858	2596	29	in	in	ADP
cblr-13858	2596	30	such	such	ADJ
cblr-13858	2596	31	cases	case	NOUN
cblr-13858	2596	32	.	.	PUNCT
cblr-13858	2597	1	but	but	CCONJ
cblr-13858	2597	2	a	a	DET
cblr-13858	2597	3	regulatory	regulatory	ADJ
cblr-13858	2597	4	minimum	minimum	NOUN
cblr-13858	2597	5	would	would	AUX
cblr-13858	2597	6	insure	insure	VERB
cblr-13858	2597	7	that	that	SCONJ
cblr-13858	2597	8	investors	investor	NOUN
cblr-13858	2597	9	have	have	VERB
cblr-13858	2597	10	time	time	NOUN
cblr-13858	2597	11	to	to	PART
cblr-13858	2597	12	consider	consider	VERB
cblr-13858	2597	13	the	the	DET
cblr-13858	2597	14	offering	offering	NOUN
cblr-13858	2597	15	and	and	CCONJ
cblr-13858	2597	16	communicate	communicate	VERB
cblr-13858	2597	17	with	with	ADP
cblr-13858	2597	18	each	each	DET
cblr-13858	2597	19	other	other	ADJ
cblr-13858	2597	20	even	even	ADV
cblr-13858	2597	21	in	in	ADP
cblr-13858	2597	22	the	the	DET
cblr-13858	2597	23	most	most	ADV
cblr-13858	2597	24	popular	popular	ADJ
cblr-13858	2597	25	offerings	offering	NOUN
cblr-13858	2597	26	.	.	PUNCT
cblr-13858	2598	1	the	the	DET
cblr-13858	2598	2	author	author	NOUN
cblr-13858	2598	3	does	do	AUX
cblr-13858	2598	4	not	not	PART
cblr-13858	2598	5	advocate	advocate	VERB
cblr-13858	2598	6	such	such	DET
cblr-13858	2598	7	a	a	DET
cblr-13858	2598	8	minimum	minimum	ADJ
cblr-13858	2598	9	limit	limit	NOUN
cblr-13858	2598	10	,	,	PUNCT
cblr-13858	2598	11	but	but	CCONJ
cblr-13858	2598	12	,	,	PUNCT
cblr-13858	2598	13	if	if	SCONJ
cblr-13858	2598	14	it	it	PRON
cblr-13858	2598	15	is	be	AUX
cblr-13858	2598	16	sufficiently	sufficiently	ADV
cblr-13858	2598	17	short	short	ADJ
cblr-13858	2598	18	,	,	PUNCT
cblr-13858	2598	19	it	it	PRON
cblr-13858	2598	20	would	would	AUX
cblr-13858	2598	21	not	not	PART
cblr-13858	2598	22	substantially	substantially	ADV
cblr-13858	2598	23	burden	burden	VERB
cblr-13858	2598	24	issuers	issuer	NOUN
cblr-13858	2598	25	using	use	VERB
cblr-13858	2598	26	the	the	DET
cblr-13858	2598	27	exemption	exemption	NOUN
cblr-13858	2598	28	.	.	PUNCT
cblr-13858	2599	1	6	6	NUM
cblr-13858	2599	2	..	..	PUNCT
cblr-13858	2599	3	see	see	VERB
cblr-13858	2599	4	supra	supra	PROPN
cblr-13858	2599	5	part	part	NOUN
cblr-13858	2599	6	iv.b.2.e	iv.b.2.e	NOUN
cblr-13858	2599	7	and	and	CCONJ
cblr-13858	2599	8	text	text	NOUN
cblr-13858	2599	9	accompanying	accompany	VERB
cblr-13858	2599	10	note	note	NOUN
cblr-13858	2599	11	363	363	NUM
cblr-13858	2599	12	.	.	PUNCT
cblr-13858	2599	13	'	'	PUNCT
cblr-13858	2600	1	see	see	VERB
cblr-13858	2600	2	verstein	verstein	NOUN
cblr-13858	2600	3	,	,	PUNCT
cblr-13858	2600	4	supra	supra	PROPN
cblr-13858	2600	5	note	note	NOUN
cblr-13858	2600	6	12	12	NUM
cblr-13858	2600	7	,	,	PUNCT
cblr-13858	2600	8	at	at	ADP
cblr-13858	2600	9	18	18	NUM
cblr-13858	2600	10	(	(	PUNCT
cblr-13858	2600	11	arguing	argue	VERB
cblr-13858	2600	12	that	that	SCONJ
cblr-13858	2600	13	peer	peer	NOUN
cblr-13858	2600	14	-	-	PUNCT
cblr-13858	2600	15	to	to	ADP
cblr-13858	2600	16	-	-	PUNCT
cblr-13858	2600	17	peer	peer	NOUN
cblr-13858	2600	18	lending	lending	NOUN
cblr-13858	2600	19	platforms	platform	NOUN
cblr-13858	2600	20	"	"	PUNCT
cblr-13858	2600	21	have	have	VERB
cblr-13858	2600	22	an	an	DET
cblr-13858	2600	23	incentive	incentive	NOUN
cblr-13858	2600	24	to	to	PART
cblr-13858	2600	25	encourage	encourage	VERB
cblr-13858	2600	26	lending	lending	NOUN
cblr-13858	2600	27	.	.	PUNCT
cblr-13858	2600	28	.	.	PUNCT
cblr-13858	2600	29	.	.	PUNCT
cblr-13858	2601	1	while	while	SCONJ
cblr-13858	2601	2	lenders	lender	NOUN
cblr-13858	2601	3	bear	bear	VERB
cblr-13858	2601	4	the	the	DET
cblr-13858	2601	5	brunt	brunt	NOUN
cblr-13858	2601	6	of	of	ADP
cblr-13858	2601	7	the	the	DET
cblr-13858	2601	8	loss	loss	NOUN
cblr-13858	2601	9	if	if	SCONJ
cblr-13858	2601	10	the	the	DET
cblr-13858	2601	11	lending	lending	NOUN
cblr-13858	2601	12	is	be	AUX
cblr-13858	2601	13	imprudent	imprudent	ADJ
cblr-13858	2601	14	"	"	PUNCT
cblr-13858	2601	15	)	)	PUNCT
cblr-13858	2601	16	.	.	PUNCT
cblr-13858	2602	1	cro	cro	NOUN
cblr-13858	2602	2	wdfundinvg	wdfundinvg	PROPN
cblr-13858	2602	3	and	and	CCONJ
cblr-13858	2602	4	securities	security	NOUN
cblr-13858	2602	5	la	la	PROPN
cblr-13858	2602	6	ws	ws	PROPN
cblr-13858	2602	7	141no	141no	PROPN
cblr-13858	2602	8	.	.	PUNCT
cblr-13858	2603	1	1:1	1:1	NUM
cblr-13858	2603	2	]	]	PUNCT
cblr-13858	2603	3	)	)	PUNCT
cblr-13858	2603	4	when	when	SCONJ
cblr-13858	2603	5	the	the	DET
cblr-13858	2603	6	site	site	NOUN
cblr-13858	2603	7	operator	operator	NOUN
cblr-13858	2603	8	's	's	PART
cblr-13858	2603	9	compensation	compensation	NOUN
cblr-13858	2603	10	depends	depend	VERB
cblr-13858	2603	11	on	on	ADP
cblr-13858	2603	12	completion	completion	NOUN
cblr-13858	2603	13	of	of	ADP
cblr-13858	2603	14	the	the	DET
cblr-13858	2603	15	transaction	transaction	NOUN
cblr-13858	2603	16	,	,	PUNCT
cblr-13858	2603	17	as	as	ADP
cblr-13858	2603	18	in	in	ADP
cblr-13858	2603	19	the	the	DET
cblr-13858	2603	20	case	case	NOUN
cblr-13858	2603	21	of	of	ADP
cblr-13858	2603	22	many	many	ADJ
cblr-13858	2603	23	existing	exist	VERB
cblr-13858	2603	24	crowdfunding	crowdfunding	NOUN
cblr-13858	2603	25	sites	site	NOUN
cblr-13858	2603	26	.	.	PUNCT
cblr-13858	2604	1	but	but	CCONJ
cblr-13858	2604	2	that	that	DET
cblr-13858	2604	3	profit	profit	NOUN
cblr-13858	2604	4	motive	motive	NOUN
cblr-13858	2604	5	also	also	ADV
cblr-13858	2604	6	gives	give	VERB
cblr-13858	2604	7	companies	company	NOUN
cblr-13858	2604	8	incentives	incentive	NOUN
cblr-13858	2604	9	to	to	PART
cblr-13858	2604	10	establish	establish	VERB
cblr-13858	2604	11	crowdfunding	crowdfunding	NOUN
cblr-13858	2604	12	sites	site	NOUN
cblr-13858	2604	13	in	in	ADP
cblr-13858	2604	14	the	the	DET
cblr-13858	2604	15	first	first	ADJ
cblr-13858	2604	16	place	place	NOUN
cblr-13858	2604	17	and	and	CCONJ
cblr-13858	2604	18	to	to	PART
cblr-13858	2604	19	develop	develop	VERB
cblr-13858	2604	20	and	and	CCONJ
cblr-13858	2604	21	improve	improve	VERB
cblr-13858	2604	22	those	those	DET
cblr-13858	2604	23	sites.689	sites.689	NOUN
cblr-13858	2604	24	with	with	ADP
cblr-13858	2604	25	the	the	DET
cblr-13858	2604	26	exception	exception	NOUN
cblr-13858	2604	27	of	of	ADP
cblr-13858	2604	28	kiva	kiva	X
cblr-13858	2604	29	(	(	PUNCT
cblr-13858	2604	30	admittedly	admittedly	ADV
cblr-13858	2604	31	a	a	DET
cblr-13858	2604	32	big	big	ADJ
cblr-13858	2604	33	exception	exception	NOUN
cblr-13858	2604	34	)	)	PUNCT
cblr-13858	2604	35	,	,	PUNCT
cblr-13858	2604	36	for	for	ADP
cblr-13858	2604	37	-	-	PUNCT
cblr-13858	2604	38	profit	profit	NOUN
cblr-13858	2604	39	sites	site	NOUN
cblr-13858	2604	40	have	have	AUX
cblr-13858	2604	41	driven	drive	VERB
cblr-13858	2604	42	business	business	NOUN
cblr-13858	2604	43	-	-	PUNCT
cblr-13858	2604	44	related	relate	VERB
cblr-13858	2604	45	crowdfunding	crowdfunding	NOUN
cblr-13858	2604	46	.	.	PUNCT
cblr-13858	2605	1	limiting	limit	VERB
cblr-13858	2605	2	crowdfunding	crowdfunde	VERB
cblr-13858	2605	3	to	to	ADP
cblr-13858	2605	4	non	non	NOUN
cblr-13858	2605	5	-	-	NOUN
cblr-13858	2605	6	profits	profit	NOUN
cblr-13858	2605	7	would	would	AUX
cblr-13858	2605	8	seriously	seriously	ADV
cblr-13858	2605	9	restrict	restrict	VERB
cblr-13858	2605	10	its	its	PRON
cblr-13858	2605	11	development	development	NOUN
cblr-13858	2605	12	.	.	PUNCT
cblr-13858	2606	1	some	some	PRON
cblr-13858	2606	2	of	of	ADP
cblr-13858	2606	3	the	the	DET
cblr-13858	2606	4	proposed	propose	VERB
cblr-13858	2606	5	restrictions	restriction	NOUN
cblr-13858	2606	6	on	on	ADP
cblr-13858	2606	7	crowdfunding	crowdfunding	NOUN
cblr-13858	2606	8	sites	site	NOUN
cblr-13858	2606	9	,	,	PUNCT
cblr-13858	2606	10	such	such	ADJ
cblr-13858	2606	11	as	as	ADP
cblr-13858	2606	12	the	the	DET
cblr-13858	2606	13	prohibition	prohibition	NOUN
cblr-13858	2606	14	of	of	ADP
cblr-13858	2606	15	investment	investment	NOUN
cblr-13858	2606	16	advice	advice	NOUN
cblr-13858	2606	17	and	and	CCONJ
cblr-13858	2606	18	the	the	DET
cblr-13858	2606	19	conflicts	conflict	NOUN
cblr-13858	2606	20	-	-	PUNCT
cblr-13858	2606	21	of	of	ADP
cblr-13858	2606	22	-	-	PUNCT
cblr-13858	2606	23	interest	interest	NOUN
cblr-13858	2606	24	bar	bar	NOUN
cblr-13858	2606	25	,	,	PUNCT
cblr-13858	2606	26	should	should	AUX
cblr-13858	2606	27	temper	temper	VERB
cblr-13858	2606	28	some	some	PRON
cblr-13858	2606	29	of	of	ADP
cblr-13858	2606	30	the	the	DET
cblr-13858	2606	31	adverse	adverse	ADJ
cblr-13858	2606	32	effects	effect	NOUN
cblr-13858	2606	33	of	of	ADP
cblr-13858	2606	34	the	the	DET
cblr-13858	2606	35	profit	profit	NOUN
cblr-13858	2606	36	motive	motive	NOUN
cblr-13858	2606	37	.	.	PUNCT
cblr-13858	2607	1	reputational	reputational	ADJ
cblr-13858	2607	2	constraints	constraint	NOUN
cblr-13858	2607	3	should	should	AUX
cblr-13858	2607	4	also	also	ADV
cblr-13858	2607	5	moderate	moderate	VERB
cblr-13858	2607	6	a	a	DET
cblr-13858	2607	7	site	site	NOUN
cblr-13858	2607	8	's	's	PART
cblr-13858	2607	9	interest	interest	NOUN
cblr-13858	2607	10	in	in	ADP
cblr-13858	2607	11	pushing	push	VERB
cblr-13858	2607	12	investors	investor	NOUN
cblr-13858	2607	13	toward	toward	ADP
cblr-13858	2607	14	inappropriate	inappropriate	ADJ
cblr-13858	2607	15	investments	investment	NOUN
cblr-13858	2607	16	;	;	PUNCT
cblr-13858	2607	17	a	a	DET
cblr-13858	2607	18	site	site	NOUN
cblr-13858	2607	19	that	that	PRON
cblr-13858	2607	20	develops	develop	VERB
cblr-13858	2607	21	a	a	DET
cblr-13858	2607	22	reputation	reputation	NOUN
cblr-13858	2607	23	for	for	ADP
cblr-13858	2607	24	losing	lose	VERB
cblr-13858	2607	25	investments	investment	NOUN
cblr-13858	2607	26	will	will	AUX
cblr-13858	2607	27	suffer	suffer	VERB
cblr-13858	2607	28	a	a	DET
cblr-13858	2607	29	loss	loss	NOUN
cblr-13858	2607	30	of	of	ADP
cblr-13858	2607	31	customers	customer	NOUN
cblr-13858	2607	32	as	as	SCONJ
cblr-13858	2607	33	investors	investor	NOUN
cblr-13858	2607	34	move	move	VERB
cblr-13858	2607	35	to	to	ADP
cblr-13858	2607	36	more	more	ADV
cblr-13858	2607	37	reputable	reputable	ADJ
cblr-13858	2607	38	sites.90	sites.90	NOUN
cblr-13858	2607	39	2	2	NUM
cblr-13858	2607	40	.	.	PUNCT
cblr-13858	2607	41	mandatory	mandatory	ADJ
cblr-13858	2607	42	disclosure	disclosure	NOUN
cblr-13858	2607	43	by	by	ADP
cblr-13858	2607	44	entrepreneurs	entrepreneur	NOUN
cblr-13858	2607	45	senate	senate	PROPN
cblr-13858	2607	46	bill	bill	PROPN
cblr-13858	2607	47	1970	1970	NUM
cblr-13858	2607	48	imposes	impose	VERB
cblr-13858	2607	49	extensive	extensive	ADJ
cblr-13858	2607	50	mandatory	mandatory	ADJ
cblr-13858	2607	51	disclosure	disclosure	NOUN
cblr-13858	2607	52	requirements	requirement	NOUN
cblr-13858	2607	53	as	as	ADP
cblr-13858	2607	54	a	a	DET
cblr-13858	2607	55	condition	condition	NOUN
cblr-13858	2607	56	of	of	ADP
cblr-13858	2607	57	the	the	DET
cblr-13858	2607	58	exemption	exemption	NOUN
cblr-13858	2607	59	.	.	PUNCT
cblr-13858	2608	1	it	it	PRON
cblr-13858	2608	2	would	would	AUX
cblr-13858	2608	3	require	require	VERB
cblr-13858	2608	4	detailed	detailed	ADJ
cblr-13858	2608	5	standardized	standardized	ADJ
cblr-13858	2608	6	disclosure	disclosure	NOUN
cblr-13858	2608	7	about	about	ADP
cblr-13858	2608	8	the	the	DET
cblr-13858	2608	9	issuer	issuer	NOUN
cblr-13858	2608	10	,	,	PUNCT
cblr-13858	2608	11	its	its	PRON
cblr-13858	2608	12	business	business	NOUN
cblr-13858	2608	13	and	and	CCONJ
cblr-13858	2608	14	business	business	NOUN
cblr-13858	2608	15	plan	plan	NOUN
cblr-13858	2608	16	,	,	PUNCT
cblr-13858	2608	17	its	its	PRON
cblr-13858	2608	18	ownership	ownership	NOUN
cblr-13858	2608	19	and	and	CCONJ
cblr-13858	2608	20	capital	capital	NOUN
cblr-13858	2608	21	structure	structure	NOUN
cblr-13858	2608	22	,	,	PUNCT
cblr-13858	2608	23	the	the	DET
cblr-13858	2608	24	offering	offering	NOUN
cblr-13858	2608	25	,	,	PUNCT
cblr-13858	2608	26	the	the	DET
cblr-13858	2608	27	rights	right	NOUN
cblr-13858	2608	28	of	of	ADP
cblr-13858	2608	29	the	the	DET
cblr-13858	2608	30	securities	security	NOUN
cblr-13858	2608	31	being	be	AUX
cblr-13858	2608	32	sold	sell	VERB
cblr-13858	2608	33	,	,	PUNCT
cblr-13858	2608	34	and	and	CCONJ
cblr-13858	2608	35	even	even	ADV
cblr-13858	2608	36	financial	financial	ADJ
cblr-13858	2608	37	statements	statement	NOUN
cblr-13858	2608	38	prepared	prepare	VERB
cblr-13858	2608	39	by	by	ADP
cblr-13858	2608	40	independent	independent	ADJ
cblr-13858	2608	41	accountants	accountant	NOUN
cblr-13858	2608	42	and	and	CCONJ
cblr-13858	2608	43	audited	audit	VERB
cblr-13858	2608	44	in	in	ADP
cblr-13858	2608	45	some	some	DET
cblr-13858	2608	46	cases	case	NOUN
cblr-13858	2608	47	.	.	PUNCT
cblr-13858	2609	1	mandatory	mandatory	ADJ
cblr-13858	2609	2	disclosure	disclosure	NOUN
cblr-13858	2609	3	requirements	requirement	NOUN
cblr-13858	2609	4	like	like	ADP
cblr-13858	2609	5	those	those	PRON
cblr-13858	2609	6	will	will	AUX
cblr-13858	2609	7	unduly	unduly	ADV
cblr-13858	2609	8	increase	increase	VERB
cblr-13858	2609	9	the	the	DET
cblr-13858	2609	10	cost	cost	NOUN
cblr-13858	2609	11	of	of	ADP
cblr-13858	2609	12	crowdfunding	crowdfunde	VERB
cblr-13858	2609	13	.	.	PUNCT
cblr-13858	2610	1	"1	"1	NOUN
cblr-13858	2610	2	1	1	NUM
cblr-13858	2610	3	entrepreneurs	entrepreneur	NOUN
cblr-13858	2610	4	will	will	AUX
cblr-13858	2610	5	need	need	VERB
cblr-13858	2610	6	to	to	PART
cblr-13858	2610	7	hire	hire	VERB
cblr-13858	2610	8	689	689	NUM
cblr-13858	2610	9	see	see	NOUN
cblr-13858	2610	10	olivia	olivia	PROPN
cblr-13858	2610	11	l.	l.	PROPN
cblr-13858	2610	12	walker	walker	PROPN
cblr-13858	2610	13	,	,	PUNCT
cblr-13858	2610	14	the	the	DET
cblr-13858	2610	15	future	future	NOUN
cblr-13858	2610	16	of	of	ADP
cblr-13858	2610	17	microlending	microlending	NOUN
cblr-13858	2610	18	in	in	ADP
cblr-13858	2610	19	the	the	DET
cblr-13858	2610	20	united	united	PROPN
cblr-13858	2610	21	states	states	PROPN
cblr-13858	2610	22	:	:	PUNCT
cblr-13858	2610	23	a	a	DET
cblr-13858	2610	24	shift	shift	NOUN
cblr-13858	2610	25	from	from	ADP
cblr-13858	2610	26	charity	charity	NOUN
cblr-13858	2610	27	to	to	ADP
cblr-13858	2610	28	profits	profit	NOUN
cblr-13858	2610	29	?	?	PUNCT
cblr-13858	2610	30	,	,	PUNCT
cblr-13858	2610	31	6	6	NUM
cblr-13858	2610	32	ohio	ohio	PROPN
cblr-13858	2610	33	st	st	PROPN
cblr-13858	2610	34	.	.	PROPN
cblr-13858	2610	35	bus	bus	PROPN
cblr-13858	2610	36	.	.	PUNCT
cblr-13858	2611	1	l.j	l.j	AUX
cblr-13858	2611	2	.	.	PROPN
cblr-13858	2611	3	383	383	NUM
cblr-13858	2611	4	,	,	PUNCT
cblr-13858	2611	5	393	393	NUM
cblr-13858	2611	6	-	-	SYM
cblr-13858	2611	7	95	95	NUM
cblr-13858	2611	8	(	(	PUNCT
cblr-13858	2611	9	2011	2011	NUM
cblr-13858	2611	10	)	)	PUNCT
cblr-13858	2611	11	(	(	PUNCT
cblr-13858	2611	12	arguing	argue	VERB
cblr-13858	2611	13	that	that	SCONJ
cblr-13858	2611	14	,	,	PUNCT
cblr-13858	2611	15	for	for	SCONJ
cblr-13858	2611	16	microlending	microlende	VERB
cblr-13858	2611	17	to	to	PART
cblr-13858	2611	18	succeed	succeed	VERB
cblr-13858	2611	19	in	in	ADP
cblr-13858	2611	20	the	the	DET
cblr-13858	2611	21	united	united	PROPN
cblr-13858	2611	22	states	states	PROPN
cblr-13858	2611	23	,	,	PUNCT
cblr-13858	2611	24	it	it	PRON
cblr-13858	2611	25	needs	need	VERB
cblr-13858	2611	26	to	to	PART
cblr-13858	2611	27	be	be	AUX
cblr-13858	2611	28	transformed	transform	VERB
cblr-13858	2611	29	into	into	ADP
cblr-13858	2611	30	a	a	DET
cblr-13858	2611	31	for	for	ADP
cblr-13858	2611	32	-	-	PUNCT
cblr-13858	2611	33	profit	profit	NOUN
cblr-13858	2611	34	industry	industry	NOUN
cblr-13858	2611	35	)	)	PUNCT
cblr-13858	2611	36	.	.	PUNCT
cblr-13858	2612	1	690	690	NUM
cblr-13858	2612	2	see	see	VERB
cblr-13858	2612	3	verstein	verstein	NOUN
cblr-13858	2612	4	,	,	PUNCT
cblr-13858	2612	5	supra	supra	PROPN
cblr-13858	2612	6	note	note	NOUN
cblr-13858	2612	7	12	12	NUM
cblr-13858	2612	8	,	,	PUNCT
cblr-13858	2612	9	at	at	ADP
cblr-13858	2612	10	14	14	NUM
cblr-13858	2612	11	(	(	PUNCT
cblr-13858	2612	12	arguing	argue	VERB
cblr-13858	2612	13	that	that	SCONJ
cblr-13858	2612	14	peer	peer	NOUN
cblr-13858	2612	15	-	-	PUNCT
cblr-13858	2612	16	to	to	ADP
cblr-13858	2612	17	-	-	PUNCT
cblr-13858	2612	18	peer	peer	NOUN
cblr-13858	2612	19	lending	lending	NOUN
cblr-13858	2612	20	platforms	platform	NOUN
cblr-13858	2612	21	"	"	PUNCT
cblr-13858	2612	22	have	have	VERB
cblr-13858	2612	23	long	long	ADJ
cblr-13858	2612	24	-	-	PUNCT
cblr-13858	2612	25	term	term	NOUN
cblr-13858	2612	26	incentives	incentive	NOUN
cblr-13858	2612	27	to	to	PART
cblr-13858	2612	28	cultivate	cultivate	VERB
cblr-13858	2612	29	impressive	impressive	ADJ
cblr-13858	2612	30	returns	return	NOUN
cblr-13858	2612	31	to	to	PART
cblr-13858	2612	32	gain	gain	VERB
cblr-13858	2612	33	customers	customer	NOUN
cblr-13858	2612	34	"	"	PUNCT
cblr-13858	2612	35	)	)	PUNCT
cblr-13858	2612	36	.	.	PUNCT
cblr-13858	2613	1	69	69	NUM
cblr-13858	2613	2	.	.	PUNCT
cblr-13858	2614	1	heminway	heminway	NOUN
cblr-13858	2614	2	and	and	CCONJ
cblr-13858	2614	3	hoffman	hoffman	NOUN
cblr-13858	2614	4	concede	concede	VERB
cblr-13858	2614	5	that	that	SCONJ
cblr-13858	2614	6	one	one	NUM
cblr-13858	2614	7	of	of	ADP
cblr-13858	2614	8	"	"	PUNCT
cblr-13858	2614	9	[	[	X
cblr-13858	2614	10	t]he	t]he	ADV
cblr-13858	2614	11	major	major	ADJ
cblr-13858	2614	12	disadvantagels	disadvantagel	NOUN
cblr-13858	2614	13	]	]	PUNCT
cblr-13858	2614	14	of	of	ADP
cblr-13858	2614	15	this	this	DET
cblr-13858	2614	16	type	type	NOUN
cblr-13858	2614	17	of	of	ADP
cblr-13858	2614	18	disclosure	disclosure	NOUN
cblr-13858	2614	19	requirement	requirement	NOUN
cblr-13858	2615	1	[	[	X
cblr-13858	2615	2	is	be	AUX
cblr-13858	2615	3	]	]	X
cblr-13858	2615	4	its	its	PRON
cblr-13858	2615	5	cost	cost	NOUN
cblr-13858	2615	6	.	.	PUNCT
cblr-13858	2615	7	"	"	PUNCT
cblr-13858	2616	1	heminway	heminway	PROPN
cblr-13858	2616	2	&	&	CCONJ
cblr-13858	2616	3	hoffman	hoffman	PROPN
cblr-13858	2616	4	,	,	PUNCT
cblr-13858	2616	5	supra	supra	PROPN
cblr-13858	2616	6	note	note	PROPN
cblr-13858	2616	7	142	142	NUM
cblr-13858	2616	8	,	,	PUNCT
cblr-13858	2616	9	at	at	ADP
cblr-13858	2616	10	959	959	NUM
cblr-13858	2616	11	.	.	PUNCT
cblr-13858	2617	1	broad	broad	ADJ
cblr-13858	2617	2	,	,	PUNCT
cblr-13858	2617	3	ambiguous	ambiguous	ADJ
cblr-13858	2617	4	disclosure	disclosure	NOUN
cblr-13858	2617	5	requirements	requirement	NOUN
cblr-13858	2617	6	are	be	AUX
cblr-13858	2617	7	equally	equally	ADV
cblr-13858	2617	8	dangerous	dangerous	ADJ
cblr-13858	2617	9	.	.	PUNCT
cblr-13858	2618	1	senate	senate	PROPN
cblr-13858	2618	2	bill	bill	PROPN
cblr-13858	2618	3	1791	1791	NUM
cblr-13858	2618	4	,	,	PUNCT
cblr-13858	2618	5	for	for	ADP
cblr-13858	2618	6	142	142	NUM
cblr-13858	2618	7	col	col	PROPN
cblr-13858	2618	8	umia	umia	PROPN
cblr-13858	2618	9	b	b	PROPN
cblr-13858	2618	10	usiness	usiness	PROPN
cblr-13858	2618	11	la	la	PROPN
cblr-13858	2618	12	w	w	PROPN
cblr-13858	2618	13	re	re	PROPN
cblr-13858	2618	14	vie	vie	PROPN
cblr-13858	2618	15	w	w	PROPN
cblr-13858	2619	1	[	[	X
cblr-13858	2619	2	vol	vol	NOUN
cblr-13858	2619	3	.	.	PUNCT
cblr-13858	2619	4	2012	2012	NUM
cblr-13858	2619	5	attorneys	attorney	NOUN
cblr-13858	2619	6	and	and	CCONJ
cblr-13858	2619	7	accountants	accountant	NOUN
cblr-13858	2619	8	to	to	PART
cblr-13858	2619	9	comply	comply	VERB
cblr-13858	2619	10	,	,	PUNCT
cblr-13858	2619	11	and	and	CCONJ
cblr-13858	2619	12	the	the	DET
cblr-13858	2619	13	increased	increase	VERB
cblr-13858	2619	14	cost	cost	NOUN
cblr-13858	2619	15	will	will	AUX
cblr-13858	2619	16	drive	drive	VERB
cblr-13858	2619	17	away	away	ADV
cblr-13858	2619	18	small	small	ADJ
cblr-13858	2619	19	,	,	PUNCT
cblr-13858	2619	20	marginal	marginal	ADJ
cblr-13858	2619	21	entrepreneurs	entrepreneur	NOUN
cblr-13858	2619	22	.	.	PUNCT
cblr-13858	2620	1	crowdfunding	crowdfunding	NOUN
cblr-13858	2620	2	site	site	NOUN
cblr-13858	2620	3	operators	operator	NOUN
cblr-13858	2620	4	might	might	AUX
cblr-13858	2620	5	help	help	VERB
cblr-13858	2620	6	entrepreneurs	entrepreneur	NOUN
cblr-13858	2620	7	to	to	PART
cblr-13858	2620	8	complete	complete	VERB
cblr-13858	2620	9	the	the	DET
cblr-13858	2620	10	required	required	ADJ
cblr-13858	2620	11	disclosure	disclosure	NOUN
cblr-13858	2620	12	,	,	PUNCT
cblr-13858	2620	13	but	but	CCONJ
cblr-13858	2620	14	that	that	PRON
cblr-13858	2620	15	does	do	AUX
cblr-13858	2620	16	not	not	PART
cblr-13858	2620	17	eliminate	eliminate	VERB
cblr-13858	2620	18	the	the	DET
cblr-13858	2620	19	cost	cost	NOUN
cblr-13858	2620	20	,	,	PUNCT
cblr-13858	2620	21	and	and	CCONJ
cblr-13858	2620	22	such	such	ADJ
cblr-13858	2620	23	advice	advice	NOUN
cblr-13858	2620	24	increases	increase	VERB
cblr-13858	2620	25	the	the	DET
cblr-13858	2620	26	likelihood	likelihood	NOUN
cblr-13858	2620	27	that	that	SCONJ
cblr-13858	2620	28	the	the	DET
cblr-13858	2620	29	site	site	NOUN
cblr-13858	2620	30	operator	operator	NOUN
cblr-13858	2620	31	will	will	AUX
cblr-13858	2620	32	be	be	AUX
cblr-13858	2620	33	treated	treat	VERB
cblr-13858	2620	34	as	as	ADP
cblr-13858	2620	35	a	a	DET
cblr-13858	2620	36	broker	broker	NOUN
cblr-13858	2620	37	or	or	CCONJ
cblr-13858	2620	38	investment	investment	NOUN
cblr-13858	2620	39	adviser.69	adviser.69	NOUN
cblr-13858	2620	40	2	2	NUM
cblr-13858	2620	41	a	a	DET
cblr-13858	2620	42	better	well	ADJ
cblr-13858	2620	43	option	option	NOUN
cblr-13858	2620	44	for	for	ADP
cblr-13858	2620	45	crowdfunding	crowdfunde	VERB
cblr-13858	2620	46	filings	filing	NOUN
cblr-13858	2620	47	would	would	AUX
cblr-13858	2620	48	be	be	AUX
cblr-13858	2620	49	the	the	DET
cblr-13858	2620	50	very	very	ADV
cblr-13858	2620	51	simple	simple	ADJ
cblr-13858	2620	52	notice	notice	NOUN
cblr-13858	2620	53	filing	filing	NOUN
cblr-13858	2620	54	required	require	VERB
cblr-13858	2620	55	by	by	ADP
cblr-13858	2620	56	house	house	NOUN
cblr-13858	2620	57	bill	bill	PROPN
cblr-13858	2620	58	2930	2930	NUM
cblr-13858	2620	59	.	.	PUNCT
cblr-13858	2620	60	'	'	PUNCT
cblr-13858	2621	1	the	the	DET
cblr-13858	2621	2	proponents	proponent	NOUN
cblr-13858	2621	3	of	of	ADP
cblr-13858	2621	4	strong	strong	ADJ
cblr-13858	2621	5	mandatory	mandatory	ADJ
cblr-13858	2621	6	disclosure	disclosure	NOUN
cblr-13858	2621	7	requirements	requirement	NOUN
cblr-13858	2621	8	are	be	AUX
cblr-13858	2621	9	missing	miss	VERB
cblr-13858	2621	10	one	one	NUM
cblr-13858	2621	11	of	of	ADP
cblr-13858	2621	12	the	the	DET
cblr-13858	2621	13	important	important	ADJ
cblr-13858	2621	14	facets	facet	NOUN
cblr-13858	2621	15	of	of	ADP
cblr-13858	2621	16	the	the	DET
cblr-13858	2621	17	argument	argument	NOUN
cblr-13858	2621	18	for	for	ADP
cblr-13858	2621	19	small	small	ADJ
cblr-13858	2621	20	business	business	NOUN
cblr-13858	2621	21	exemptions	exemption	NOUN
cblr-13858	2621	22	.	.	PUNCT
cblr-13858	2622	1	for	for	ADP
cblr-13858	2622	2	offerings	offering	NOUN
cblr-13858	2622	3	below	below	ADP
cblr-13858	2622	4	a	a	DET
cblr-13858	2622	5	certain	certain	ADJ
cblr-13858	2622	6	size	size	NOUN
cblr-13858	2622	7	,	,	PUNCT
cblr-13858	2622	8	the	the	DET
cblr-13858	2622	9	cost	cost	NOUN
cblr-13858	2622	10	of	of	ADP
cblr-13858	2622	11	any	any	DET
cblr-13858	2622	12	regulatory	regulatory	ADJ
cblr-13858	2622	13	requirements	requirement	NOUN
cblr-13858	2622	14	-	-	PUNCT
cblr-13858	2622	15	even	even	ADV
cblr-13858	2622	16	a	a	DET
cblr-13858	2622	17	minimal	minimal	ADJ
cblr-13858	2622	18	disclosure	disclosure	NOUN
cblr-13858	2622	19	requirementexceeds	requirementexceed	VERB
cblr-13858	2622	20	the	the	DET
cblr-13858	2622	21	benefit	benefit	NOUN
cblr-13858	2622	22	.	.	PUNCT
cblr-13858	2623	1	for	for	ADP
cblr-13858	2623	2	those	those	DET
cblr-13858	2623	3	small	small	ADJ
cblr-13858	2623	4	offerings	offering	NOUN
cblr-13858	2623	5	,	,	PUNCT
cblr-13858	2623	6	an	an	DET
cblr-13858	2623	7	unconditional	unconditional	ADJ
cblr-13858	2623	8	exemption	exemption	NOUN
cblr-13858	2623	9	makes	make	VERB
cblr-13858	2623	10	sense.694	sense.694	PROPN
cblr-13858	2623	11	no	no	ADV
cblr-13858	2623	12	matter	matter	ADV
cblr-13858	2623	13	how	how	SCONJ
cblr-13858	2623	14	attractive	attractive	ADJ
cblr-13858	2623	15	registration	registration	NOUN
cblr-13858	2623	16	and	and	CCONJ
cblr-13858	2623	17	standardized	standardized	ADJ
cblr-13858	2623	18	disclosure	disclosure	NOUN
cblr-13858	2623	19	seem	seem	VERB
cblr-13858	2623	20	in	in	ADP
cblr-13858	2623	21	the	the	DET
cblr-13858	2623	22	abstract	abstract	NOUN
cblr-13858	2623	23	,	,	PUNCT
cblr-13858	2623	24	they	they	PRON
cblr-13858	2623	25	make	make	VERB
cblr-13858	2623	26	no	no	DET
cblr-13858	2623	27	economic	economic	ADJ
cblr-13858	2623	28	sense	sense	NOUN
cblr-13858	2623	29	for	for	ADP
cblr-13858	2623	30	the	the	DET
cblr-13858	2623	31	very	very	ADV
cblr-13858	2623	32	small	small	ADJ
cblr-13858	2623	33	offerings	offering	NOUN
cblr-13858	2623	34	that	that	PRON
cblr-13858	2623	35	crowdfunding	crowdfunding	NOUN
cblr-13858	2623	36	facilitates	facilitate	VERB
cblr-13858	2623	37	.	.	PUNCT
cblr-13858	2624	1	although	although	SCONJ
cblr-13858	2624	2	it	it	PRON
cblr-13858	2624	3	allows	allow	VERB
cblr-13858	2624	4	easier	easy	ADJ
cblr-13858	2624	5	comparisons	comparison	NOUN
cblr-13858	2624	6	among	among	ADP
cblr-13858	2624	7	investment	investment	NOUN
cblr-13858	2624	8	opportunities	opportunity	NOUN
cblr-13858	2624	9	and	and	CCONJ
cblr-13858	2624	10	therefore	therefore	ADV
cblr-13858	2624	11	has	have	VERB
cblr-13858	2624	12	some	some	DET
cblr-13858	2624	13	value	value	NOUN
cblr-13858	2624	14	to	to	ADP
cblr-13858	2624	15	investors,9	investors,9	NOUN
cblr-13858	2624	16	standardization	standardization	NOUN
cblr-13858	2624	17	of	of	ADP
cblr-13858	2624	18	disclosure	disclosure	NOUN
cblr-13858	2624	19	is	be	AUX
cblr-13858	2624	20	a	a	DET
cblr-13858	2624	21	bad	bad	ADJ
cblr-13858	2624	22	idea	idea	NOUN
cblr-13858	2624	23	for	for	ADP
cblr-13858	2624	24	another	another	DET
cblr-13858	2624	25	reason	reason	NOUN
cblr-13858	2624	26	.	.	PUNCT
cblr-13858	2625	1	crowdfunding	crowdfunding	NOUN
cblr-13858	2625	2	is	be	AUX
cblr-13858	2625	3	still	still	ADV
cblr-13858	2625	4	in	in	ADP
cblr-13858	2625	5	a	a	DET
cblr-13858	2625	6	very	very	ADV
cblr-13858	2625	7	early	early	ADJ
cblr-13858	2625	8	stage	stage	NOUN
cblr-13858	2625	9	of	of	ADP
cblr-13858	2625	10	development	development	NOUN
cblr-13858	2625	11	.	.	PUNCT
cblr-13858	2626	1	standardization	standardization	NOUN
cblr-13858	2626	2	of	of	ADP
cblr-13858	2626	3	what	what	PRON
cblr-13858	2626	4	appears	appear	VERB
cblr-13858	2626	5	on	on	ADP
cblr-13858	2626	6	crowdfunding	crowdfunding	NOUN
cblr-13858	2626	7	sites	site	NOUN
cblr-13858	2626	8	could	could	AUX
cblr-13858	2626	9	discourage	discourage	VERB
cblr-13858	2626	10	experimentation	experimentation	NOUN
cblr-13858	2626	11	and	and	CCONJ
cblr-13858	2626	12	instance	instance	NOUN
cblr-13858	2626	13	,	,	PUNCT
cblr-13858	2626	14	requires	require	VERB
cblr-13858	2626	15	issuers	issuer	NOUN
cblr-13858	2626	16	to	to	PART
cblr-13858	2626	17	disclose	disclose	VERB
cblr-13858	2626	18	"	"	PUNCT
cblr-13858	2626	19	all	all	DET
cblr-13858	2626	20	rights	right	NOUN
cblr-13858	2626	21	of	of	ADP
cblr-13858	2626	22	investors	investor	NOUN
cblr-13858	2626	23	,	,	PUNCT
cblr-13858	2626	24	including	include	VERB
cblr-13858	2626	25	complete	complete	ADJ
cblr-13858	2626	26	information	information	NOUN
cblr-13858	2626	27	about	about	ADP
cblr-13858	2626	28	the	the	DET
cblr-13858	2626	29	risks	risk	NOUN
cblr-13858	2626	30	,	,	PUNCT
cblr-13858	2626	31	obligations	obligation	NOUN
cblr-13858	2626	32	,	,	PUNCT
cblr-13858	2626	33	benefits	benefit	NOUN
cblr-13858	2626	34	,	,	PUNCT
cblr-13858	2626	35	history	history	NOUN
cblr-13858	2626	36	,	,	PUNCT
cblr-13858	2626	37	and	and	CCONJ
cblr-13858	2626	38	costs	cost	NOUN
cblr-13858	2626	39	of	of	ADP
cblr-13858	2626	40	offering	offer	VERB
cblr-13858	2626	41	.	.	PUNCT
cblr-13858	2626	42	"	"	PUNCT
cblr-13858	2627	1	s.	s.	PROPN
cblr-13858	2627	2	1791	1791	NUM
cblr-13858	2627	3	,	,	PUNCT
cblr-13858	2627	4	112th	112th	PROPN
cblr-13858	2627	5	cong	cong	NOUN
cblr-13858	2627	6	.	.	PUNCT
cblr-13858	2628	1	§	§	PROPN
cblr-13858	2628	2	2(b)(1)(a	2(b)(1)(a	NUM
cblr-13858	2628	3	)	)	PUNCT
cblr-13858	2628	4	(	(	PUNCT
cblr-13858	2628	5	2011	2011	NUM
cblr-13858	2628	6	)	)	PUNCT
cblr-13858	2628	7	.	.	PUNCT
cblr-13858	2629	1	what	what	PRON
cblr-13858	2629	2	does	do	AUX
cblr-13858	2629	3	it	it	PRON
cblr-13858	2629	4	mean	mean	VERB
cblr-13858	2629	5	to	to	PART
cblr-13858	2629	6	provide	provide	VERB
cblr-13858	2629	7	"	"	PUNCT
cblr-13858	2629	8	complete	complete	ADJ
cblr-13858	2629	9	"	"	PUNCT
cblr-13858	2629	10	information	information	NOUN
cblr-13858	2629	11	about	about	ADP
cblr-13858	2629	12	all	all	DET
cblr-13858	2629	13	the	the	DET
cblr-13858	2629	14	risks	risk	NOUN
cblr-13858	2629	15	of	of	ADP
cblr-13858	2629	16	the	the	DET
cblr-13858	2629	17	offering	offering	NOUN
cblr-13858	2629	18	?	?	PUNCT
cblr-13858	2630	1	this	this	DET
cblr-13858	2630	2	uncertain	uncertain	ADJ
cblr-13858	2630	3	requirement	requirement	NOUN
cblr-13858	2630	4	merely	merely	ADV
cblr-13858	2630	5	provides	provide	VERB
cblr-13858	2630	6	fodder	fodder	NOUN
cblr-13858	2630	7	for	for	ADP
cblr-13858	2630	8	subsequent	subsequent	ADJ
cblr-13858	2630	9	investor	investor	NOUN
cblr-13858	2630	10	lawsuits	lawsuit	NOUN
cblr-13858	2630	11	against	against	ADP
cblr-13858	2630	12	issuers	issuer	NOUN
cblr-13858	2630	13	who	who	PRON
cblr-13858	2630	14	were	be	AUX
cblr-13858	2630	15	not	not	PART
cblr-13858	2630	16	advised	advise	VERB
cblr-13858	2630	17	by	by	ADP
cblr-13858	2630	18	sophisticated	sophisticated	ADJ
cblr-13858	2630	19	securities	security	NOUN
cblr-13858	2630	20	counsel	counsel	NOUN
cblr-13858	2630	21	.	.	PUNCT
cblr-13858	2631	1	692	692	NUM
cblr-13858	2631	2	see	see	VERB
cblr-13858	2631	3	supra	supra	ADJ
cblr-13858	2631	4	parts	part	NOUN
cblr-13858	2631	5	iv.b.2.c.i	iv.b.2.c.i	NOUN
cblr-13858	2631	6	and	and	CCONJ
cblr-13858	2631	7	iv.c.4	iv.c.4	PROPN
cblr-13858	2631	8	.	.	PUNCT
cblr-13858	2632	1	693	693	NUM
cblr-13858	2632	2	see	see	VERB
cblr-13858	2632	3	h.r	h.r	PROPN
cblr-13858	2632	4	.	.	PROPN
cblr-13858	2632	5	2930	2930	NUM
cblr-13858	2632	6	,	,	PUNCT
cblr-13858	2632	7	112th	112th	PROPN
cblr-13858	2632	8	cong	cong	NOUN
cblr-13858	2632	9	.	.	PUNCT
cblr-13858	2633	1	§	§	PROPN
cblr-13858	2633	2	2(b	2(b	NUM
cblr-13858	2633	3	)	)	PUNCT
cblr-13858	2633	4	(	(	PUNCT
cblr-13858	2633	5	2011	2011	NUM
cblr-13858	2633	6	)	)	PUNCT
cblr-13858	2633	7	(	(	PUNCT
cblr-13858	2633	8	requiring	require	VERB
cblr-13858	2633	9	information	information	NOUN
cblr-13858	2633	10	about	about	ADP
cblr-13858	2633	11	the	the	DET
cblr-13858	2633	12	issuer	issuer	NOUN
cblr-13858	2633	13	,	,	PUNCT
cblr-13858	2633	14	its	its	PRON
cblr-13858	2633	15	principals	principal	NOUN
cblr-13858	2633	16	,	,	PUNCT
cblr-13858	2633	17	the	the	DET
cblr-13858	2633	18	purpose	purpose	NOUN
cblr-13858	2633	19	of	of	ADP
cblr-13858	2633	20	the	the	DET
cblr-13858	2633	21	offering	offering	NOUN
cblr-13858	2633	22	,	,	PUNCT
cblr-13858	2633	23	the	the	DET
cblr-13858	2633	24	target	target	NOUN
cblr-13858	2633	25	offering	offering	NOUN
cblr-13858	2633	26	amount	amount	NOUN
cblr-13858	2633	27	,	,	PUNCT
cblr-13858	2633	28	and	and	CCONJ
cblr-13858	2633	29	the	the	DET
cblr-13858	2633	30	deadline	deadline	NOUN
cblr-13858	2633	31	for	for	ADP
cblr-13858	2633	32	reaching	reach	VERB
cblr-13858	2633	33	that	that	DET
cblr-13858	2633	34	target	target	NOUN
cblr-13858	2633	35	)	)	PUNCT
cblr-13858	2633	36	.	.	PUNCT
cblr-13858	2634	1	694	694	NUM
cblr-13858	2634	2	the	the	DET
cblr-13858	2634	3	author	author	NOUN
cblr-13858	2634	4	explains	explain	VERB
cblr-13858	2634	5	this	this	DET
cblr-13858	2634	6	point	point	NOUN
cblr-13858	2634	7	in	in	ADP
cblr-13858	2634	8	much	much	ADV
cblr-13858	2634	9	greater	great	ADJ
cblr-13858	2634	10	detail	detail	NOUN
cblr-13858	2634	11	elsewhere	elsewhere	ADV
cblr-13858	2634	12	.	.	PUNCT
cblr-13858	2635	1	see	see	VERB
cblr-13858	2635	2	bradford	bradford	NOUN
cblr-13858	2635	3	,	,	PUNCT
cblr-13858	2635	4	securities	security	NOUN
cblr-13858	2635	5	regulation	regulation	NOUN
cblr-13858	2635	6	and	and	CCONJ
cblr-13858	2635	7	small	small	ADJ
cblr-13858	2635	8	business	business	NOUN
cblr-13858	2635	9	,	,	PUNCT
cblr-13858	2635	10	supra	supra	PROPN
cblr-13858	2635	11	note	note	PROPN
cblr-13858	2635	12	605	605	NUM
cblr-13858	2635	13	,	,	PUNCT
cblr-13858	2635	14	at	at	ADP
cblr-13858	2635	15	29	29	NUM
cblr-13858	2635	16	-	-	SYM
cblr-13858	2635	17	33	33	NUM
cblr-13858	2635	18	;	;	PUNCT
cblr-13858	2635	19	bradford	bradford	NOUN
cblr-13858	2635	20	,	,	PUNCT
cblr-13858	2635	21	transaction	transaction	NOUN
cblr-13858	2635	22	exemptions	exemption	NOUN
cblr-13858	2635	23	,	,	PUNCT
cblr-13858	2635	24	supra	supra	PROPN
cblr-13858	2635	25	note	note	PROPN
cblr-13858	2635	26	509	509	NUM
cblr-13858	2635	27	,	,	PUNCT
cblr-13858	2635	28	at	at	ADP
cblr-13858	2635	29	614	614	NUM
cblr-13858	2635	30	-	-	SYM
cblr-13858	2635	31	22	22	NUM
cblr-13858	2635	32	.	.	PUNCT
cblr-13858	2636	1	699	699	NUM
cblr-13858	2636	2	see	see	VERB
cblr-13858	2636	3	heminway	heminway	NOUN
cblr-13858	2636	4	&	&	CCONJ
cblr-13858	2636	5	hoffman	hoffman	PROPN
cblr-13858	2636	6	,	,	PUNCT
cblr-13858	2636	7	supra	supra	PROPN
cblr-13858	2636	8	note	note	PROPN
cblr-13858	2636	9	142	142	NUM
cblr-13858	2636	10	,	,	PUNCT
cblr-13858	2636	11	at	at	ADP
cblr-13858	2636	12	938	938	NUM
cblr-13858	2636	13	-	-	SYM
cblr-13858	2636	14	39	39	NUM
cblr-13858	2636	15	(	(	PUNCT
cblr-13858	2636	16	arguing	argue	VERB
cblr-13858	2636	17	that	that	SCONJ
cblr-13858	2636	18	standardization	standardization	NOUN
cblr-13858	2636	19	promotes	promote	VERB
cblr-13858	2636	20	efficiency	efficiency	NOUN
cblr-13858	2636	21	)	)	PUNCT
cblr-13858	2636	22	.	.	PUNCT
cblr-13858	2637	1	no	no	INTJ
cblr-13858	2637	2	.	.	PUNCT
cblr-13858	2638	1	i	i	PRON
cblr-13858	2638	2	:	:	PUNCT
cblr-13858	2638	3	1	1	X
cblr-13858	2638	4	]	]	X
cblr-13858	2638	5	crowdfund1ng	crowdfund1ng	NOUN
cblr-13858	2638	6	and	and	CCONJ
cblr-13858	2638	7	securities	security	NOUN
cblr-13858	2638	8	laws	law	NOUN
cblr-13858	2638	9	143	143	NUM
cblr-13858	2638	10	freeze	freeze	VERB
cblr-13858	2638	11	its	its	PRON
cblr-13858	2638	12	development	development	NOUN
cblr-13858	2638	13	.	.	PUNCT
cblr-13858	2639	1	instead	instead	ADV
cblr-13858	2639	2	of	of	ADP
cblr-13858	2639	3	forcing	force	VERB
cblr-13858	2639	4	all	all	DET
cblr-13858	2639	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2639	6	sites	site	NOUN
cblr-13858	2639	7	into	into	ADP
cblr-13858	2639	8	a	a	DET
cblr-13858	2639	9	federally	federally	ADV
cblr-13858	2639	10	mandated	mandate	VERB
cblr-13858	2639	11	standard	standard	ADJ
cblr-13858	2639	12	disclosure	disclosure	NOUN
cblr-13858	2639	13	model	model	NOUN
cblr-13858	2639	14	,	,	PUNCT
cblr-13858	2639	15	regulators	regulator	NOUN
cblr-13858	2639	16	should	should	AUX
cblr-13858	2639	17	allow	allow	VERB
cblr-13858	2639	18	them	they	PRON
cblr-13858	2639	19	to	to	PART
cblr-13858	2639	20	search	search	VERB
cblr-13858	2639	21	for	for	ADP
cblr-13858	2639	22	the	the	DET
cblr-13858	2639	23	format	format	NOUN
cblr-13858	2639	24	that	that	PRON
cblr-13858	2639	25	investors	investor	NOUN
cblr-13858	2639	26	find	find	VERB
cblr-13858	2639	27	most	most	ADV
cblr-13858	2639	28	useful	useful	ADJ
cblr-13858	2639	29	.	.	PUNCT
cblr-13858	2640	1	3	3	X
cblr-13858	2640	2	.	.	X
cblr-13858	2640	3	restrictions	restriction	NOUN
cblr-13858	2640	4	on	on	ADP
cblr-13858	2640	5	resale	resale	NOUN
cblr-13858	2640	6	the	the	DET
cblr-13858	2640	7	three	three	NUM
cblr-13858	2640	8	bills	bill	NOUN
cblr-13858	2640	9	outstanding	outstanding	ADJ
cblr-13858	2640	10	in	in	ADP
cblr-13858	2640	11	congress	congress	PROPN
cblr-13858	2640	12	all	all	PRON
cblr-13858	2640	13	restrict	restrict	VERB
cblr-13858	2640	14	the	the	DET
cblr-13858	2640	15	resale	resale	NOUN
cblr-13858	2640	16	of	of	ADP
cblr-13858	2640	17	crowdfunded	crowdfunde	VERB
cblr-13858	2640	18	securities	security	NOUN
cblr-13858	2640	19	.	.	PUNCT
cblr-13858	2640	20	"	"	PUNCT
cblr-13858	2641	1	heminway	heminway	NOUN
cblr-13858	2641	2	and	and	CCONJ
cblr-13858	2641	3	hoffman	hoffman	NOUN
cblr-13858	2641	4	argue	argue	VERB
cblr-13858	2641	5	that	that	SCONJ
cblr-13858	2641	6	such	such	ADJ
cblr-13858	2641	7	restrictions	restriction	NOUN
cblr-13858	2641	8	are	be	AUX
cblr-13858	2641	9	necessary	necessary	ADJ
cblr-13858	2641	10	because	because	SCONJ
cblr-13858	2641	11	a	a	DET
cblr-13858	2641	12	resale	resale	NOUN
cblr-13858	2641	13	market	market	NOUN
cblr-13858	2641	14	may	may	AUX
cblr-13858	2641	15	not	not	PART
cblr-13858	2641	16	provide	provide	VERB
cblr-13858	2641	17	new	new	ADJ
cblr-13858	2641	18	investors	investor	NOUN
cblr-13858	2641	19	with	with	ADP
cblr-13858	2641	20	direct	direct	ADJ
cblr-13858	2641	21	access	access	NOUN
cblr-13858	2641	22	to	to	ADP
cblr-13858	2641	23	the	the	DET
cblr-13858	2641	24	information	information	NOUN
cblr-13858	2641	25	available	available	ADJ
cblr-13858	2641	26	on	on	ADP
cblr-13858	2641	27	the	the	DET
cblr-13858	2641	28	crowdfunding	crowdfunding	NOUN
cblr-13858	2641	29	site	site	NOUN
cblr-13858	2641	30	itself	itself	PRON
cblr-13858	2641	31	,	,	PUNCT
cblr-13858	2641	32	so	so	SCONJ
cblr-13858	2641	33	resales	resale	NOUN
cblr-13858	2641	34	are	be	AUX
cblr-13858	2641	35	more	more	ADV
cblr-13858	2641	36	conducive	conducive	ADJ
cblr-13858	2641	37	to	to	PART
cblr-13858	2641	38	fraud.69	fraud.69	VERB
cblr-13858	2641	39	7	7	NUM
cblr-13858	2641	40	restrictions	restriction	NOUN
cblr-13858	2641	41	on	on	ADP
cblr-13858	2641	42	resale	resale	NOUN
cblr-13858	2641	43	are	be	AUX
cblr-13858	2641	44	neither	neither	ADV
cblr-13858	2641	45	necessary	necessary	ADJ
cblr-13858	2641	46	nor	nor	CCONJ
cblr-13858	2641	47	desirable	desirable	ADJ
cblr-13858	2641	48	,	,	PUNCT
cblr-13858	2641	49	although	although	SCONJ
cblr-13858	2641	50	their	their	PRON
cblr-13858	2641	51	presence	presence	NOUN
cblr-13858	2641	52	will	will	AUX
cblr-13858	2641	53	not	not	PART
cblr-13858	2641	54	unduly	unduly	ADV
cblr-13858	2641	55	chill	chill	VERB
cblr-13858	2641	56	use	use	NOUN
cblr-13858	2641	57	of	of	ADP
cblr-13858	2641	58	the	the	DET
cblr-13858	2641	59	exemption	exemption	NOUN
cblr-13858	2641	60	.	.	PUNCT
cblr-13858	2642	1	the	the	DET
cblr-13858	2642	2	existing	exist	VERB
cblr-13858	2642	3	crowdfunding	crowdfunding	NOUN
cblr-13858	2642	4	sites	site	NOUN
cblr-13858	2642	5	do	do	AUX
cblr-13858	2642	6	not	not	PART
cblr-13858	2642	7	maintain	maintain	VERB
cblr-13858	2642	8	trading	trading	NOUN
cblr-13858	2642	9	markets	market	NOUN
cblr-13858	2642	10	,	,	PUNCT
cblr-13858	2642	11	and	and	CCONJ
cblr-13858	2642	12	they	they	PRON
cblr-13858	2642	13	can	can	AUX
cblr-13858	2642	14	not	not	PART
cblr-13858	2642	15	easily	easily	ADV
cblr-13858	2642	16	establish	establish	VERB
cblr-13858	2642	17	such	such	ADJ
cblr-13858	2642	18	markets	market	NOUN
cblr-13858	2642	19	without	without	ADP
cblr-13858	2642	20	registering	register	VERB
cblr-13858	2642	21	as	as	ADP
cblr-13858	2642	22	exchanges	exchange	NOUN
cblr-13858	2642	23	or	or	CCONJ
cblr-13858	2642	24	alternative	alternative	ADJ
cblr-13858	2642	25	trading	trading	NOUN
cblr-13858	2642	26	systems.6	systems.6	PROPN
cblr-13858	2642	27	6	6	NUM
cblr-13858	2642	28	if	if	SCONJ
cblr-13858	2642	29	crowdfunding	crowdfunding	NOUN
cblr-13858	2642	30	platforms	platform	NOUN
cblr-13858	2642	31	do	do	AUX
cblr-13858	2642	32	establish	establish	VERB
cblr-13858	2642	33	their	their	PRON
cblr-13858	2642	34	own	own	ADJ
cblr-13858	2642	35	trading	trading	NOUN
cblr-13858	2642	36	platforms	platform	NOUN
cblr-13858	2642	37	,	,	PUNCT
cblr-13858	2642	38	information	information	NOUN
cblr-13858	2642	39	about	about	ADP
cblr-13858	2642	40	the	the	DET
cblr-13858	2642	41	entrepreneur	entrepreneur	NOUN
cblr-13858	2642	42	and	and	CCONJ
cblr-13858	2642	43	the	the	DET
cblr-13858	2642	44	offering	offering	NOUN
cblr-13858	2642	45	is	be	AUX
cblr-13858	2642	46	available	available	ADJ
cblr-13858	2642	47	on	on	ADP
cblr-13858	2642	48	-	-	PUNCT
cblr-13858	2642	49	site	site	NOUN
cblr-13858	2642	50	.	.	PUNCT
cblr-13858	2643	1	given	give	VERB
cblr-13858	2643	2	the	the	DET
cblr-13858	2643	3	small	small	ADJ
cblr-13858	2643	4	amounts	amount	NOUN
cblr-13858	2643	5	invested	invest	VERB
cblr-13858	2643	6	,	,	PUNCT
cblr-13858	2643	7	active	active	ADJ
cblr-13858	2643	8	trading	trading	NOUN
cblr-13858	2643	9	markets	market	NOUN
cblr-13858	2643	10	are	be	AUX
cblr-13858	2643	11	unlikely	unlikely	ADJ
cblr-13858	2643	12	to	to	PART
cblr-13858	2643	13	develop	develop	VERB
cblr-13858	2643	14	outside	outside	ADP
cblr-13858	2643	15	the	the	DET
cblr-13858	2643	16	crowdfunding	crowdfunding	NOUN
cblr-13858	2643	17	site	site	NOUN
cblr-13858	2643	18	.	.	PUNCT
cblr-13858	2643	19	'	'	PUNCT
cblr-13858	2644	1	resale	resale	NOUN
cblr-13858	2644	2	restrictions	restriction	NOUN
cblr-13858	2644	3	are	be	AUX
cblr-13858	2644	4	likely	likely	ADJ
cblr-13858	2644	5	to	to	PART
cblr-13858	2644	6	serve	serve	VERB
cblr-13858	2644	7	only	only	ADV
cblr-13858	2644	8	as	as	ADP
cblr-13858	2644	9	a	a	DET
cblr-13858	2644	10	trap	trap	NOUN
cblr-13858	2644	11	for	for	ADP
cblr-13858	2644	12	the	the	DET
cblr-13858	2644	13	unwary	unwary	ADJ
cblr-13858	2644	14	.	.	PUNCT
cblr-13858	2645	1	unsophisticated	unsophisticated	ADJ
cblr-13858	2645	2	investors	investor	NOUN
cblr-13858	2645	3	,	,	PUNCT
cblr-13858	2645	4	who	who	PRON
cblr-13858	2645	5	are	be	AUX
cblr-13858	2645	6	unlikely	unlikely	ADJ
cblr-13858	2645	7	to	to	PART
cblr-13858	2645	8	understand	understand	VERB
cblr-13858	2645	9	or	or	CCONJ
cblr-13858	2645	10	even	even	ADV
cblr-13858	2645	11	be	be	AUX
cblr-13858	2645	12	aware	aware	ADJ
cblr-13858	2645	13	of	of	ADP
cblr-13858	2645	14	such	such	ADJ
cblr-13858	2645	15	restrictions	restriction	NOUN
cblr-13858	2645	16	,	,	PUNCT
cblr-13858	2645	17	would	would	AUX
cblr-13858	2645	18	be	be	AUX
cblr-13858	2645	19	exposed	expose	VERB
cblr-13858	2645	20	to	to	ADP
cblr-13858	2645	21	liability	liability	NOUN
cblr-13858	2645	22	whenever	whenever	SCONJ
cblr-13858	2645	23	they	they	PRON
cblr-13858	2645	24	sell	sell	VERB
cblr-13858	2645	25	their	their	PRON
cblr-13858	2645	26	crowdfunded	crowdfunde	VERB
cblr-13858	2645	27	securities	security	NOUN
cblr-13858	2645	28	to	to	ADP
cblr-13858	2645	29	uncle	uncle	PROPN
cblr-13858	2645	30	ernie	ernie	PROPN
cblr-13858	2645	31	or	or	CCONJ
cblr-13858	2645	32	aunt	aunt	VERB
cblr-13858	2645	33	emma	emma	PROPN
cblr-13858	2645	34	.	.	PUNCT
cblr-13858	2646	1	and	and	CCONJ
cblr-13858	2646	2	,	,	PUNCT
cblr-13858	2646	3	if	if	SCONJ
cblr-13858	2646	4	resale	resale	NOUN
cblr-13858	2646	5	restrictions	restriction	NOUN
cblr-13858	2646	6	are	be	AUX
cblr-13858	2646	7	given	give	VERB
cblr-13858	2646	8	any	any	DET
cblr-13858	2646	9	teeth	tooth	NOUN
cblr-13858	2646	10	,	,	PUNCT
cblr-13858	2646	11	such	such	ADJ
cblr-13858	2646	12	resales	resale	NOUN
cblr-13858	2646	13	could	could	AUX
cblr-13858	2646	14	cause	cause	VERB
cblr-13858	2646	15	6	6	NUM
cblr-13858	2646	16	see	see	VERB
cblr-13858	2646	17	supra	supra	PROPN
cblr-13858	2646	18	part	part	PROPN
cblr-13858	2647	1	v.g	v.g	PROPN
cblr-13858	2647	2	.	.	PROPN
cblr-13858	2647	3	697	697	NUM
cblr-13858	2647	4	see	see	VERB
cblr-13858	2647	5	heminway	heminway	NOUN
cblr-13858	2647	6	&	&	CCONJ
cblr-13858	2647	7	hoffman	hoffman	PROPN
cblr-13858	2647	8	,	,	PUNCT
cblr-13858	2647	9	supra	supra	PROPN
cblr-13858	2647	10	note	note	PROPN
cblr-13858	2647	11	142	142	NUM
cblr-13858	2647	12	,	,	PUNCT
cblr-13858	2647	13	at	at	ADP
cblr-13858	2647	14	954	954	NUM
cblr-13858	2647	15	.	.	PUNCT
cblr-13858	2647	16	69	69	NUM
cblr-13858	2647	17	see	see	VERB
cblr-13858	2647	18	supra	supra	PROPN
cblr-13858	2647	19	part	part	NOUN
cblr-13858	2647	20	iv.a	iv.a	VERB
cblr-13858	2647	21	.	.	PUNCT
cblr-13858	2648	1	69	69	NUM
cblr-13858	2648	2	however	however	ADV
cblr-13858	2648	3	,	,	PUNCT
cblr-13858	2648	4	the	the	DET
cblr-13858	2648	5	notes	note	NOUN
cblr-13858	2648	6	offered	offer	VERB
cblr-13858	2648	7	by	by	ADP
cblr-13858	2648	8	prosper	prosper	NOUN
cblr-13858	2648	9	and	and	CCONJ
cblr-13858	2648	10	lending	lending	NOUN
cblr-13858	2648	11	club	club	NOUN
cblr-13858	2648	12	are	be	AUX
cblr-13858	2648	13	traded	trade	VERB
cblr-13858	2648	14	on	on	ADP
cblr-13858	2648	15	a	a	DET
cblr-13858	2648	16	platform	platform	NOUN
cblr-13858	2648	17	maintained	maintain	VERB
cblr-13858	2648	18	by	by	ADP
cblr-13858	2648	19	folioifn	folioifn	NOUN
cblr-13858	2648	20	,	,	PUNCT
cblr-13858	2648	21	a	a	DET
cblr-13858	2648	22	registered	register	VERB
cblr-13858	2648	23	broker	broker	NOUN
cblr-13858	2648	24	-	-	PUNCT
cblr-13858	2648	25	dealer	dealer	NOUN
cblr-13858	2648	26	.	.	PUNCT
cblr-13858	2649	1	see	see	VERB
cblr-13858	2649	2	prosper	prosper	NOUN
cblr-13858	2649	3	registration	registration	NOUN
cblr-13858	2649	4	statement	statement	NOUN
cblr-13858	2649	5	,	,	PUNCT
cblr-13858	2649	6	supra	supra	PROPN
cblr-13858	2649	7	note	note	PROPN
cblr-13858	2649	8	81	81	NUM
cblr-13858	2649	9	,	,	PUNCT
cblr-13858	2649	10	at	at	ADP
cblr-13858	2649	11	11	11	NUM
cblr-13858	2649	12	;	;	PUNCT
cblr-13858	2649	13	lending	lend	VERB
cblr-13858	2649	14	club	club	NOUN
cblr-13858	2649	15	registration	registration	NOUN
cblr-13858	2649	16	statement	statement	NOUN
cblr-13858	2649	17	,	,	PUNCT
cblr-13858	2649	18	supra	supra	PROPN
cblr-13858	2649	19	note	note	PROPN
cblr-13858	2649	20	81	81	NUM
cblr-13858	2649	21	,	,	PUNCT
cblr-13858	2649	22	at	at	ADP
cblr-13858	2649	23	11	11	NUM
cblr-13858	2649	24	.	.	PUNCT
cblr-13858	2650	1	it	it	PRON
cblr-13858	2650	2	is	be	AUX
cblr-13858	2650	3	not	not	PART
cblr-13858	2650	4	clear	clear	ADJ
cblr-13858	2650	5	how	how	SCONJ
cblr-13858	2650	6	actively	actively	ADV
cblr-13858	2650	7	those	those	DET
cblr-13858	2650	8	notes	note	NOUN
cblr-13858	2650	9	are	be	AUX
cblr-13858	2650	10	traded	trade	VERB
cblr-13858	2650	11	.	.	PUNCT
cblr-13858	2651	1	[	[	X
cblr-13858	2651	2	vol	vol	NOUN
cblr-13858	2651	3	.	.	PUNCT
cblr-13858	2651	4	2012144	2012144	NUM
cblr-13858	2651	5	col	col	PROPN
cblr-13858	2651	6	umia	umia	PROPN
cblr-13858	2651	7	b	b	PROPN
cblr-13858	2651	8	usiness	usiness	PROPN
cblr-13858	2651	9	la	la	PROPN
cblr-13858	2651	10	wre	wre	PROPN
cblr-13858	2651	11	vie	vie	PROPN
cblr-13858	2651	12	w	w	PROPN
cblr-13858	2651	13	cro	cro	PROPN
cblr-13858	2651	14	wdfunding	wdfunding	NOUN
cblr-13858	2651	15	and	and	CCONJ
cblr-13858	2651	16	securities	security	NOUN
cblr-13858	2651	17	laws	law	NOUN
cblr-13858	2651	18	issuers	issuer	NOUN
cblr-13858	2651	19	to	to	PART
cblr-13858	2651	20	lose	lose	VERB
cblr-13858	2651	21	their	their	PRON
cblr-13858	2651	22	exemptions	exemption	NOUN
cblr-13858	2651	23	.	.	PUNCT
cblr-13858	2651	24	'o	'o	PUNCT
cblr-13858	2652	1	given	give	VERB
cblr-13858	2652	2	the	the	DET
cblr-13858	2652	3	limited	limited	ADJ
cblr-13858	2652	4	danger	danger	NOUN
cblr-13858	2652	5	,	,	PUNCT
cblr-13858	2652	6	resale	resale	NOUN
cblr-13858	2652	7	restrictions	restriction	NOUN
cblr-13858	2652	8	are	be	AUX
cblr-13858	2652	9	undesirable	undesirable	ADJ
cblr-13858	2652	10	.	.	PUNCT
cblr-13858	2653	1	d.	d.	PROPN
cblr-13858	2653	2	preemption	preemption	PROPN
cblr-13858	2653	3	of	of	ADP
cblr-13858	2653	4	state	state	NOUN
cblr-13858	2653	5	law	law	NOUN
cblr-13858	2653	6	securities	security	NOUN
cblr-13858	2653	7	regulation	regulation	NOUN
cblr-13858	2653	8	in	in	ADP
cblr-13858	2653	9	the	the	DET
cblr-13858	2653	10	united	united	PROPN
cblr-13858	2653	11	states	states	PROPN
cblr-13858	2653	12	is	be	AUX
cblr-13858	2653	13	a	a	DET
cblr-13858	2653	14	polycentric	polycentric	ADJ
cblr-13858	2653	15	combination	combination	NOUN
cblr-13858	2653	16	of	of	ADP
cblr-13858	2653	17	federal	federal	ADJ
cblr-13858	2653	18	and	and	CCONJ
cblr-13858	2653	19	state	state	NOUN
cblr-13858	2653	20	regulation	regulation	NOUN
cblr-13858	2653	21	.	.	PUNCT
cblr-13858	2654	1	issuers	issuer	NOUN
cblr-13858	2654	2	offering	offer	VERB
cblr-13858	2654	3	securities	security	NOUN
cblr-13858	2654	4	must	must	AUX
cblr-13858	2654	5	deal	deal	VERB
cblr-13858	2654	6	not	not	PART
cblr-13858	2654	7	only	only	ADV
cblr-13858	2654	8	with	with	ADP
cblr-13858	2654	9	the	the	DET
cblr-13858	2654	10	registration	registration	NOUN
cblr-13858	2654	11	requirements	requirement	NOUN
cblr-13858	2654	12	of	of	ADP
cblr-13858	2654	13	the	the	DET
cblr-13858	2654	14	federal	federal	PROPN
cblr-13858	2654	15	securities	securities	PROPN
cblr-13858	2654	16	act	act	PROPN
cblr-13858	2654	17	,	,	PUNCT
cblr-13858	2654	18	but	but	CCONJ
cblr-13858	2654	19	also	also	ADV
cblr-13858	2654	20	with	with	ADP
cblr-13858	2654	21	the	the	DET
cblr-13858	2654	22	registration	registration	NOUN
cblr-13858	2654	23	requirements	requirement	NOUN
cblr-13858	2654	24	in	in	ADP
cblr-13858	2654	25	all	all	PRON
cblr-13858	2654	26	of	of	ADP
cblr-13858	2654	27	the	the	DET
cblr-13858	2654	28	states	state	NOUN
cblr-13858	2654	29	in	in	ADP
cblr-13858	2654	30	which	which	PRON
cblr-13858	2654	31	they	they	PRON
cblr-13858	2654	32	offer	offer	VERB
cblr-13858	2654	33	the	the	DET
cblr-13858	2654	34	securities	security	NOUN
cblr-13858	2654	35	.	.	PUNCT
cblr-13858	2655	1	congress	congress	PROPN
cblr-13858	2655	2	has	have	AUX
cblr-13858	2655	3	preempted	preempt	VERB
cblr-13858	2655	4	state	state	NOUN
cblr-13858	2655	5	registration	registration	NOUN
cblr-13858	2655	6	requirements	requirement	NOUN
cblr-13858	2655	7	for	for	ADP
cblr-13858	2655	8	the	the	DET
cblr-13858	2655	9	offering	offering	NOUN
cblr-13858	2655	10	of	of	ADP
cblr-13858	2655	11	certain	certain	ADJ
cblr-13858	2655	12	securities,70	securities,70	NOUN
cblr-13858	2655	13	'	'	PUNCT
cblr-13858	2655	14	but	but	CCONJ
cblr-13858	2655	15	the	the	DET
cblr-13858	2655	16	securities	security	NOUN
cblr-13858	2655	17	sold	sell	VERB
cblr-13858	2655	18	by	by	ADP
cblr-13858	2655	19	small	small	ADJ
cblr-13858	2655	20	issuers	issuer	NOUN
cblr-13858	2655	21	on	on	ADP
cblr-13858	2655	22	crowdfunding	crowdfunding	NOUN
cblr-13858	2655	23	sites	site	NOUN
cblr-13858	2655	24	do	do	AUX
cblr-13858	2655	25	not	not	PART
cblr-13858	2655	26	fall	fall	VERB
cblr-13858	2655	27	within	within	ADP
cblr-13858	2655	28	the	the	DET
cblr-13858	2655	29	preempted	preempted	ADJ
cblr-13858	2655	30	categories	category	NOUN
cblr-13858	2655	31	.	.	PUNCT
cblr-13858	2656	1	even	even	ADV
cblr-13858	2656	2	if	if	SCONJ
cblr-13858	2656	3	the	the	DET
cblr-13858	2656	4	sec	sec	PROPN
cblr-13858	2656	5	adopts	adopt	VERB
cblr-13858	2656	6	a	a	DET
cblr-13858	2656	7	crowdfunding	crowdfunding	NOUN
cblr-13858	2656	8	exemption	exemption	NOUN
cblr-13858	2656	9	,	,	PUNCT
cblr-13858	2656	10	the	the	DET
cblr-13858	2656	11	states	state	NOUN
cblr-13858	2656	12	would	would	AUX
cblr-13858	2656	13	remain	remain	VERB
cblr-13858	2656	14	free	free	ADJ
cblr-13858	2656	15	to	to	PART
cblr-13858	2656	16	regulate	regulate	VERB
cblr-13858	2656	17	crowdfunding.702	crowdfunding.702	PROPN
cblr-13858	2656	18	state	state	NOUN
cblr-13858	2656	19	securities	security	NOUN
cblr-13858	2656	20	laws	law	NOUN
cblr-13858	2656	21	also	also	ADV
cblr-13858	2656	22	require	require	VERB
cblr-13858	2656	23	the	the	DET
cblr-13858	2656	24	registration	registration	NOUN
cblr-13858	2656	25	of	of	ADP
cblr-13858	2656	26	brokers	broker	NOUN
cblr-13858	2656	27	and	and	CCONJ
cblr-13858	2656	28	other	other	ADJ
cblr-13858	2656	29	agents	agent	NOUN
cblr-13858	2656	30	engaged	engage	VERB
cblr-13858	2656	31	in	in	ADP
cblr-13858	2656	32	securities	security	NOUN
cblr-13858	2656	33	activities.70	activities.70	PRON
cblr-13858	2656	34	s	s	AUX
cblr-13858	2656	35	exempting	exempt	VERB
cblr-13858	2656	36	crowdfunding	crowdfunding	NOUN
cblr-13858	2656	37	sites	site	NOUN
cblr-13858	2656	38	from	from	ADP
cblr-13858	2656	39	federal	federal	ADJ
cblr-13858	2656	40	regulation	regulation	NOUN
cblr-13858	2656	41	as	as	SCONJ
cblr-13858	2656	42	brokers	broker	NOUN
cblr-13858	2656	43	or	or	CCONJ
cblr-13858	2656	44	investment	investment	NOUN
cblr-13858	2656	45	advisers	adviser	NOUN
cblr-13858	2656	46	would	would	AUX
cblr-13858	2656	47	not	not	PART
cblr-13858	2656	48	protect	protect	VERB
cblr-13858	2656	49	them	they	PRON
cblr-13858	2656	50	from	from	ADP
cblr-13858	2656	51	similar	similar	ADJ
cblr-13858	2656	52	state	state	NOUN
cblr-13858	2656	53	regulation	regulation	NOUN
cblr-13858	2656	54	.	.	PUNCT
cblr-13858	2657	1	the	the	DET
cblr-13858	2657	2	exchange	exchange	PROPN
cblr-13858	2657	3	act	act	NOUN
cblr-13858	2657	4	limits	limit	VERB
cblr-13858	2657	5	the	the	DET
cblr-13858	2657	6	power	power	NOUN
cblr-13858	2657	7	of	of	ADP
cblr-13858	2657	8	states	state	NOUN
cblr-13858	2657	9	to	to	PART
cblr-13858	2657	10	regulate	regulate	VERB
cblr-13858	2657	11	brokers	broker	NOUN
cblr-13858	2657	12	and	and	CCONJ
cblr-13858	2657	13	their	their	PRON
cblr-13858	2657	14	associated	associated	ADJ
cblr-13858	2657	15	persons,704	persons,704	NOUN
cblr-13858	2657	16	but	but	CCONJ
cblr-13858	2657	17	,	,	PUNCT
cblr-13858	2657	18	as	as	SCONJ
cblr-13858	2657	19	explained	explain	VERB
cblr-13858	2657	20	earlier	early	ADV
cblr-13858	2657	21	,	,	PUNCT
cblr-13858	2657	22	crowdfunding	crowdfunde	VERB
cblr-13858	2657	23	sites	site	NOUN
cblr-13858	2657	24	would	would	AUX
cblr-13858	2657	25	not	not	PART
cblr-13858	2657	26	be	be	AUX
cblr-13858	2657	27	brokers	broker	NOUN
cblr-13858	2657	28	under	under	ADP
cblr-13858	2657	29	the	the	DET
cblr-13858	2657	30	proposed	propose	VERB
cblr-13858	2657	31	crowdfunding	crowdfunding	NOUN
cblr-13858	2657	32	exemption	exemption	NOUN
cblr-13858	2657	33	.	.	PUNCT
cblr-13858	2658	1	the	the	DET
cblr-13858	2658	2	700	700	NUM
cblr-13858	2658	3	heminway	heminway	NOUN
cblr-13858	2658	4	and	and	CCONJ
cblr-13858	2658	5	hoffman	hoffman	NOUN
cblr-13858	2658	6	recognize	recognize	VERB
cblr-13858	2658	7	this	this	DET
cblr-13858	2658	8	issue	issue	NOUN
cblr-13858	2658	9	.	.	PUNCT
cblr-13858	2659	1	they	they	PRON
cblr-13858	2659	2	note	note	VERB
cblr-13858	2659	3	that	that	SCONJ
cblr-13858	2659	4	"	"	PUNCT
cblr-13858	2659	5	any	any	DET
cblr-13858	2659	6	regulatory	regulatory	ADJ
cblr-13858	2659	7	solution	solution	NOUN
cblr-13858	2659	8	should	should	AUX
cblr-13858	2659	9	address	address	VERB
cblr-13858	2659	10	the	the	DET
cblr-13858	2659	11	manner	manner	NOUN
cblr-13858	2659	12	in	in	ADP
cblr-13858	2659	13	which	which	PRON
cblr-13858	2659	14	investor	investor	NOUN
cblr-13858	2659	15	violations	violation	NOUN
cblr-13858	2659	16	of	of	ADP
cblr-13858	2659	17	any	any	DET
cblr-13858	2659	18	resale	resale	NOUN
cblr-13858	2659	19	prohibition	prohibition	NOUN
cblr-13858	2659	20	impact	impact	NOUN
cblr-13858	2659	21	the	the	DET
cblr-13858	2659	22	issuer	issuer	NOUN
cblr-13858	2659	23	's	's	PART
cblr-13858	2659	24	exemption	exemption	NOUN
cblr-13858	2659	25	.	.	PUNCT
cblr-13858	2659	26	"	"	PUNCT
cblr-13858	2660	1	heminway	heminway	PROPN
cblr-13858	2660	2	&	&	CCONJ
cblr-13858	2660	3	hoffman	hoffman	PROPN
cblr-13858	2660	4	,	,	PUNCT
cblr-13858	2660	5	supra	supra	PROPN
cblr-13858	2660	6	note	note	PROPN
cblr-13858	2660	7	142	142	NUM
cblr-13858	2660	8	,	,	PUNCT
cblr-13858	2660	9	at	at	ADP
cblr-13858	2660	10	954	954	NUM
cblr-13858	2660	11	n.367	n.367	NOUN
cblr-13858	2660	12	.	.	PROPN
cblr-13858	2660	13	701	701	NUM
cblr-13858	2660	14	see	see	VERB
cblr-13858	2660	15	securities	security	NOUN
cblr-13858	2660	16	act	act	NOUN
cblr-13858	2660	17	of	of	ADP
cblr-13858	2660	18	1933	1933	NUM
cblr-13858	2660	19	§	§	PROPN
cblr-13858	2660	20	18	18	NUM
cblr-13858	2660	21	,	,	PUNCT
cblr-13858	2660	22	15	15	NUM
cblr-13858	2660	23	u.s.c	u.s.c	ADJ
cblr-13858	2660	24	.	.	PUNCT
cblr-13858	2661	1	§	§	PROPN
cblr-13858	2661	2	77r(a	77r(a	NUM
cblr-13858	2661	3	)	)	PUNCT
cblr-13858	2661	4	,	,	PUNCT
cblr-13858	2661	5	(	(	PUNCT
cblr-13858	2661	6	b	b	X
cblr-13858	2661	7	)	)	PUNCT
cblr-13858	2661	8	(	(	PUNCT
cblr-13858	2661	9	2010	2010	NUM
cblr-13858	2661	10	)	)	PUNCT
cblr-13858	2661	11	.	.	PUNCT
cblr-13858	2662	1	702	702	NUM
cblr-13858	2662	2	cohn	cohn	PROPN
cblr-13858	2662	3	&	&	CCONJ
cblr-13858	2662	4	yadley	yadley	PROPN
cblr-13858	2662	5	,	,	PUNCT
cblr-13858	2662	6	supra	supra	PROPN
cblr-13858	2662	7	note	note	PROPN
cblr-13858	2662	8	11	11	NUM
cblr-13858	2662	9	,	,	PUNCT
cblr-13858	2662	10	at	at	ADP
cblr-13858	2662	11	13	13	NUM
cblr-13858	2662	12	(	(	PUNCT
cblr-13858	2662	13	"	"	PUNCT
cblr-13858	2662	14	even	even	ADV
cblr-13858	2662	15	when	when	SCONJ
cblr-13858	2662	16	the	the	DET
cblr-13858	2662	17	issuer	issuer	NOUN
cblr-13858	2662	18	is	be	AUX
cblr-13858	2662	19	able	able	ADJ
cblr-13858	2662	20	to	to	PART
cblr-13858	2662	21	qualify	qualify	VERB
cblr-13858	2662	22	for	for	ADP
cblr-13858	2662	23	exemption	exemption	NOUN
cblr-13858	2662	24	from	from	ADP
cblr-13858	2662	25	the	the	DET
cblr-13858	2662	26	1933	1933	NUM
cblr-13858	2662	27	securities	security	NOUN
cblr-13858	2662	28	act	act	PROPN
cblr-13858	2662	29	,	,	PUNCT
cblr-13858	2662	30	there	there	PRON
cblr-13858	2662	31	is	be	VERB
cblr-13858	2662	32	no	no	DET
cblr-13858	2662	33	guarantee	guarantee	NOUN
cblr-13858	2662	34	,	,	PUNCT
cblr-13858	2662	35	other	other	ADJ
cblr-13858	2662	36	than	than	ADP
cblr-13858	2662	37	rule	rule	NOUN
cblr-13858	2662	38	506	506	NUM
cblr-13858	2662	39	,	,	PUNCT
cblr-13858	2662	40	that	that	SCONJ
cblr-13858	2662	41	the	the	DET
cblr-13858	2662	42	offering	offering	NOUN
cblr-13858	2662	43	will	will	AUX
cblr-13858	2662	44	be	be	AUX
cblr-13858	2662	45	exempt	exempt	ADJ
cblr-13858	2662	46	from	from	ADP
cblr-13858	2662	47	state	state	NOUN
cblr-13858	2662	48	securities	security	NOUN
cblr-13858	2662	49	regulation	regulation	NOUN
cblr-13858	2662	50	.	.	PUNCT
cblr-13858	2662	51	"	"	PUNCT
cblr-13858	2662	52	)	)	PUNCT
cblr-13858	2662	53	.	.	PUNCT
cblr-13858	2663	1	a	a	DET
cblr-13858	2663	2	crowdfunding	crowdfunding	NOUN
cblr-13858	2663	3	site	site	NOUN
cblr-13858	2663	4	could	could	AUX
cblr-13858	2663	5	avoid	avoid	VERB
cblr-13858	2663	6	the	the	DET
cblr-13858	2663	7	application	application	NOUN
cblr-13858	2663	8	of	of	ADP
cblr-13858	2663	9	a	a	DET
cblr-13858	2663	10	particular	particular	ADJ
cblr-13858	2663	11	state	state	NOUN
cblr-13858	2663	12	's	's	PART
cblr-13858	2663	13	securities	security	NOUN
cblr-13858	2663	14	law	law	NOUN
cblr-13858	2663	15	by	by	ADP
cblr-13858	2663	16	not	not	PART
cblr-13858	2663	17	selling	sell	VERB
cblr-13858	2663	18	in	in	ADP
cblr-13858	2663	19	that	that	DET
cblr-13858	2663	20	state	state	NOUN
cblr-13858	2663	21	.	.	PUNCT
cblr-13858	2664	1	most	most	ADJ
cblr-13858	2664	2	states	state	NOUN
cblr-13858	2664	3	have	have	AUX
cblr-13858	2664	4	adopted	adopt	VERB
cblr-13858	2664	5	an	an	DET
cblr-13858	2664	6	exemption	exemption	NOUN
cblr-13858	2664	7	for	for	ADP
cblr-13858	2664	8	internet	internet	NOUN
cblr-13858	2664	9	offerings	offering	NOUN
cblr-13858	2664	10	when	when	SCONJ
cblr-13858	2664	11	(	(	PUNCT
cblr-13858	2664	12	1	1	X
cblr-13858	2664	13	)	)	PUNCT
cblr-13858	2664	14	the	the	DET
cblr-13858	2664	15	offer	offer	NOUN
cblr-13858	2664	16	specifically	specifically	ADV
cblr-13858	2664	17	indicates	indicate	VERB
cblr-13858	2664	18	it	it	PRON
cblr-13858	2664	19	is	be	AUX
cblr-13858	2664	20	not	not	PART
cblr-13858	2664	21	being	be	AUX
cblr-13858	2664	22	offered	offer	VERB
cblr-13858	2664	23	to	to	ADP
cblr-13858	2664	24	the	the	DET
cblr-13858	2664	25	residents	resident	NOUN
cblr-13858	2664	26	of	of	ADP
cblr-13858	2664	27	that	that	DET
cblr-13858	2664	28	state	state	NOUN
cblr-13858	2664	29	;	;	PUNCT
cblr-13858	2664	30	(	(	PUNCT
cblr-13858	2664	31	2	2	X
cblr-13858	2664	32	)	)	PUNCT
cblr-13858	2664	33	no	no	DET
cblr-13858	2664	34	offer	offer	NOUN
cblr-13858	2664	35	is	be	AUX
cblr-13858	2664	36	specifically	specifically	ADV
cblr-13858	2664	37	directed	direct	VERB
cblr-13858	2664	38	to	to	ADP
cblr-13858	2664	39	anyone	anyone	PRON
cblr-13858	2664	40	in	in	ADP
cblr-13858	2664	41	that	that	DET
cblr-13858	2664	42	state	state	NOUN
cblr-13858	2664	43	;	;	PUNCT
cblr-13858	2664	44	and	and	CCONJ
cblr-13858	2664	45	(	(	PUNCT
cblr-13858	2664	46	3	3	X
cblr-13858	2664	47	)	)	PUNCT
cblr-13858	2664	48	no	no	DET
cblr-13858	2664	49	securities	security	NOUN
cblr-13858	2664	50	are	be	AUX
cblr-13858	2664	51	sold	sell	VERB
cblr-13858	2664	52	in	in	ADP
cblr-13858	2664	53	that	that	DET
cblr-13858	2664	54	state	state	NOUN
cblr-13858	2664	55	.	.	PUNCT
cblr-13858	2665	1	see	see	VERB
cblr-13858	2665	2	sjostrom	sjostrom	PROPN
cblr-13858	2665	3	,	,	PUNCT
cblr-13858	2665	4	supra	supra	PROPN
cblr-13858	2665	5	note	note	NOUN
cblr-13858	2665	6	198	198	NUM
cblr-13858	2665	7	,	,	PUNCT
cblr-13858	2665	8	at	at	ADP
cblr-13858	2665	9	30	30	NUM
cblr-13858	2665	10	.	.	PUNCT
cblr-13858	2666	1	703	703	NUM
cblr-13858	2666	2	see	see	VERB
cblr-13858	2666	3	generally	generally	ADV
cblr-13858	2666	4	12a	12a	NOUN
cblr-13858	2666	5	long	long	ADJ
cblr-13858	2666	6	,	,	PUNCT
cblr-13858	2666	7	supra	supra	PROPN
cblr-13858	2666	8	note	note	NOUN
cblr-13858	2666	9	148	148	NUM
cblr-13858	2666	10	,	,	PUNCT
cblr-13858	2666	11	at	at	ADP
cblr-13858	2666	12	8	8	NUM
cblr-13858	2666	13	-	-	SYM
cblr-13858	2666	14	3	3	NUM
cblr-13858	2666	15	-	-	PUNCT
cblr-13858	2666	16	8	8	NUM
cblr-13858	2666	17	-	-	SYM
cblr-13858	2666	18	6	6	NUM
cblr-13858	2666	19	.	.	PUNCT
cblr-13858	2667	1	securities	security	NOUN
cblr-13858	2667	2	exchange	exchange	PROPN
cblr-13858	2667	3	act	act	PROPN
cblr-13858	2667	4	of	of	ADP
cblr-13858	2667	5	1934	1934	NUM
cblr-13858	2667	6	§	§	PROPN
cblr-13858	2667	7	15(i	15(i	NUM
cblr-13858	2667	8	)	)	PUNCT
cblr-13858	2667	9	,	,	PUNCT
cblr-13858	2667	10	15	15	NUM
cblr-13858	2667	11	u.s.c	u.s.c	ADJ
cblr-13858	2667	12	.	.	PUNCT
cblr-13858	2668	1	§	§	PROPN
cblr-13858	2668	2	78o(i	78o(i	NUM
cblr-13858	2668	3	)	)	PUNCT
cblr-13858	2668	4	.	.	PUNCT
cblr-13858	2669	1	no	no	INTJ
cblr-13858	2669	2	.	.	NOUN
cblr-13858	2670	1	1	1	NUM
cblr-13858	2670	2	:	:	SYM
cblr-13858	2670	3	1	1	NUM
cblr-13858	2670	4	]	]	SYM
cblr-13858	2670	5	145	145	NUM
cblr-13858	2670	6	columbia	columbia	PROPN
cblr-13858	2670	7	business	business	NOUN
cblr-13858	2670	8	law	law	PROPN
cblr-13858	2670	9	review	review	NOUN
cblr-13858	2670	10	states	state	NOUN
cblr-13858	2670	11	would	would	AUX
cblr-13858	2670	12	be	be	AUX
cblr-13858	2670	13	free	free	ADJ
cblr-13858	2670	14	to	to	PART
cblr-13858	2670	15	construe	construe	VERB
cblr-13858	2670	16	the	the	DET
cblr-13858	2670	17	term	term	NOUN
cblr-13858	2670	18	"	"	PUNCT
cblr-13858	2670	19	broker	broker	NOUN
cblr-13858	2670	20	"	"	PUNCT
cblr-13858	2670	21	more	more	ADV
cblr-13858	2670	22	broadly	broadly	ADV
cblr-13858	2670	23	than	than	ADP
cblr-13858	2670	24	under	under	ADP
cblr-13858	2670	25	federal	federal	ADJ
cblr-13858	2670	26	law	law	NOUN
cblr-13858	2670	27	.	.	PUNCT
cblr-13858	2671	1	however	however	ADV
cblr-13858	2671	2	,	,	PUNCT
cblr-13858	2671	3	the	the	DET
cblr-13858	2671	4	sec	sec	PROPN
cblr-13858	2671	5	probably	probably	ADV
cblr-13858	2671	6	could	could	AUX
cblr-13858	2671	7	effectively	effectively	ADV
cblr-13858	2671	8	preclude	preclude	VERB
cblr-13858	2671	9	state	state	NOUN
cblr-13858	2671	10	regulation	regulation	NOUN
cblr-13858	2671	11	of	of	ADP
cblr-13858	2671	12	crowdfunding	crowdfunding	NOUN
cblr-13858	2671	13	sites	site	NOUN
cblr-13858	2671	14	as	as	ADP
cblr-13858	2671	15	investment	investment	NOUN
cblr-13858	2671	16	advisers	adviser	NOUN
cblr-13858	2671	17	.	.	PUNCT
cblr-13858	2672	1	the	the	DET
cblr-13858	2672	2	investment	investment	NOUN
cblr-13858	2672	3	advisers	adviser	NOUN
cblr-13858	2672	4	act	act	VERB
cblr-13858	2672	5	provides	provide	VERB
cblr-13858	2672	6	that	that	SCONJ
cblr-13858	2672	7	states	state	NOUN
cblr-13858	2672	8	may	may	AUX
cblr-13858	2672	9	not	not	PART
cblr-13858	2672	10	require	require	VERB
cblr-13858	2672	11	the	the	DET
cblr-13858	2672	12	registration	registration	NOUN
cblr-13858	2672	13	,	,	PUNCT
cblr-13858	2672	14	licensing	licensing	NOUN
cblr-13858	2672	15	or	or	CCONJ
cblr-13858	2672	16	qualification	qualification	NOUN
cblr-13858	2672	17	of	of	ADP
cblr-13858	2672	18	advisers	adviser	NOUN
cblr-13858	2672	19	excepted	except	VERB
cblr-13858	2672	20	from	from	ADP
cblr-13858	2672	21	the	the	DET
cblr-13858	2672	22	federal	federal	ADJ
cblr-13858	2672	23	definition	definition	NOUN
cblr-13858	2672	24	in	in	ADP
cblr-13858	2672	25	section	section	NOUN
cblr-13858	2672	26	202(a)(11	202(a)(11	NUM
cblr-13858	2672	27	)	)	PUNCT
cblr-13858	2672	28	of	of	ADP
cblr-13858	2672	29	the	the	DET
cblr-13858	2672	30	act,7	act,7	NOUN
cblr-13858	2672	31	05	05	NUM
cblr-13858	2672	32	and	and	CCONJ
cblr-13858	2672	33	one	one	NUM
cblr-13858	2672	34	of	of	ADP
cblr-13858	2672	35	the	the	DET
cblr-13858	2672	36	exceptions	exception	NOUN
cblr-13858	2672	37	in	in	ADP
cblr-13858	2672	38	202(a)(11	202(a)(11	NUM
cblr-13858	2672	39	)	)	PUNCT
cblr-13858	2672	40	is	be	AUX
cblr-13858	2672	41	for	for	SCONJ
cblr-13858	2672	42	advisers	adviser	NOUN
cblr-13858	2672	43	designated	designate	VERB
cblr-13858	2672	44	by	by	ADP
cblr-13858	2672	45	the	the	DET
cblr-13858	2672	46	sec.7	sec.7	PROPN
cblr-13858	2672	47	06	06	PROPN
cblr-13858	2672	48	states	state	NOUN
cblr-13858	2672	49	could	could	AUX
cblr-13858	2672	50	develop	develop	VERB
cblr-13858	2672	51	coordinated	coordinated	ADJ
cblr-13858	2672	52	exemptions	exemption	NOUN
cblr-13858	2672	53	that	that	PRON
cblr-13858	2672	54	would	would	AUX
cblr-13858	2672	55	also	also	ADV
cblr-13858	2672	56	free	free	VERB
cblr-13858	2672	57	crowdfunded	crowdfunde	VERB
cblr-13858	2672	58	offerings	offering	NOUN
cblr-13858	2672	59	from	from	ADP
cblr-13858	2672	60	state	state	NOUN
cblr-13858	2672	61	regulatory	regulatory	ADJ
cblr-13858	2672	62	requirements	requirement	NOUN
cblr-13858	2672	63	.	.	PUNCT
cblr-13858	2673	1	this	this	PRON
cblr-13858	2673	2	would	would	AUX
cblr-13858	2673	3	not	not	PART
cblr-13858	2673	4	be	be	AUX
cblr-13858	2673	5	unprecedented	unprecedented	ADJ
cblr-13858	2673	6	.	.	PUNCT
cblr-13858	2674	1	many	many	ADJ
cblr-13858	2674	2	states	state	NOUN
cblr-13858	2674	3	,	,	PUNCT
cblr-13858	2674	4	for	for	ADP
cblr-13858	2674	5	example	example	NOUN
cblr-13858	2674	6	,	,	PUNCT
cblr-13858	2674	7	have	have	AUX
cblr-13858	2674	8	adopted	adopt	VERB
cblr-13858	2674	9	a	a	DET
cblr-13858	2674	10	uniform	uniform	ADJ
cblr-13858	2674	11	limited	limited	ADJ
cblr-13858	2674	12	offering	offering	NOUN
cblr-13858	2674	13	exemption	exemption	NOUN
cblr-13858	2674	14	(	(	PUNCT
cblr-13858	2674	15	"	"	PUNCT
cblr-13858	2674	16	uloe	uloe	NOUN
cblr-13858	2674	17	"	"	PUNCT
cblr-13858	2674	18	)	)	PUNCT
cblr-13858	2674	19	that	that	PRON
cblr-13858	2674	20	coordinates	coordinate	VERB
cblr-13858	2674	21	with	with	ADP
cblr-13858	2674	22	rule	rule	NOUN
cblr-13858	2674	23	505	505	NUM
cblr-13858	2674	24	of	of	ADP
cblr-13858	2674	25	regulation	regulation	NOUN
cblr-13858	2674	26	d.701	d.701	ADV
cblr-13858	2674	27	however	however	ADV
cblr-13858	2674	28	,	,	PUNCT
cblr-13858	2674	29	states	state	NOUN
cblr-13858	2674	30	have	have	AUX
cblr-13858	2674	31	been	be	AUX
cblr-13858	2674	32	unwilling	unwilling	ADJ
cblr-13858	2674	33	to	to	PART
cblr-13858	2674	34	extend	extend	VERB
cblr-13858	2674	35	the	the	DET
cblr-13858	2674	36	uloe	uloe	NOUN
cblr-13858	2674	37	to	to	PART
cblr-13858	2674	38	rule	rule	VERB
cblr-13858	2674	39	504,"as	504,"as	NOUN
cblr-13858	2674	40	and	and	CCONJ
cblr-13858	2674	41	it	it	PRON
cblr-13858	2674	42	is	be	AUX
cblr-13858	2674	43	unlikely	unlikely	ADJ
cblr-13858	2674	44	they	they	PRON
cblr-13858	2674	45	will	will	AUX
cblr-13858	2674	46	extend	extend	VERB
cblr-13858	2674	47	it	it	PRON
cblr-13858	2674	48	to	to	ADP
cblr-13858	2674	49	any	any	DET
cblr-13858	2674	50	other	other	ADJ
cblr-13858	2674	51	exemption	exemption	NOUN
cblr-13858	2674	52	for	for	ADP
cblr-13858	2674	53	offerings	offering	NOUN
cblr-13858	2674	54	to	to	PART
cblr-13858	2674	55	unaccredited	unaccredited	ADJ
cblr-13858	2674	56	,	,	PUNCT
cblr-13858	2674	57	unsophisticated	unsophisticated	ADJ
cblr-13858	2674	58	investors.o	investors.o	NOUN
cblr-13858	2674	59	'	'	PUNCT
cblr-13858	2674	60	the	the	DET
cblr-13858	2674	61	north	north	ADJ
cblr-13858	2674	62	american	american	ADJ
cblr-13858	2674	63	securities	security	NOUN
cblr-13858	2674	64	administrators	administrators	PROPN
cblr-13858	2674	65	association	association	PROPN
cblr-13858	2674	66	is	be	AUX
cblr-13858	2674	67	working	work	VERB
cblr-13858	2674	68	on	on	ADP
cblr-13858	2674	69	a	a	DET
cblr-13858	2674	70	model	model	NOUN
cblr-13858	2674	71	crowdfunding	crowdfunding	NOUN
cblr-13858	2674	72	rule	rule	NOUN
cblr-13858	2674	73	,	,	PUNCT
cblr-13858	2674	74	but	but	CCONJ
cblr-13858	2674	75	it	it	PRON
cblr-13858	2674	76	has	have	AUX
cblr-13858	2674	77	not	not	PART
cblr-13858	2674	78	yet	yet	ADV
cblr-13858	2674	79	been	be	AUX
cblr-13858	2674	80	705	705	NUM
cblr-13858	2674	81	investment	investment	NOUN
cblr-13858	2674	82	advisers	adviser	NOUN
cblr-13858	2674	83	act	act	VERB
cblr-13858	2674	84	of	of	ADP
cblr-13858	2674	85	1940	1940	NUM
cblr-13858	2674	86	§	§	PROPN
cblr-13858	2674	87	203a(b)(1)(b	203a(b)(1)(b	PROPN
cblr-13858	2674	88	)	)	PUNCT
cblr-13858	2674	89	,	,	PUNCT
cblr-13858	2674	90	15	15	NUM
cblr-13858	2674	91	u.s.c	u.s.c	ADJ
cblr-13858	2674	92	.	.	PUNCT
cblr-13858	2675	1	§	§	PROPN
cblr-13858	2675	2	80b3a(b)(1)(b	80b3a(b)(1)(b	NUM
cblr-13858	2675	3	)	)	PUNCT
cblr-13858	2675	4	(	(	PUNCT
cblr-13858	2675	5	2010	2010	NUM
cblr-13858	2675	6	)	)	PUNCT
cblr-13858	2675	7	.	.	PUNCT
cblr-13858	2675	8	"	"	PUNCT
cblr-13858	2676	1	investment	investment	NOUN
cblr-13858	2676	2	advisers	adviser	NOUN
cblr-13858	2676	3	act	act	VERB
cblr-13858	2676	4	of	of	ADP
cblr-13858	2676	5	1940	1940	NUM
cblr-13858	2676	6	§	§	PROPN
cblr-13858	2676	7	202(a)(11)(g	202(a)(11)(g	NUM
cblr-13858	2676	8	)	)	PUNCT
cblr-13858	2676	9	,	,	PUNCT
cblr-13858	2676	10	15	15	NUM
cblr-13858	2676	11	u.s.c	u.s.c	ADJ
cblr-13858	2676	12	.	.	PUNCT
cblr-13858	2677	1	§	§	PROPN
cblr-13858	2677	2	80b2(a)(11)(g	80b2(a)(11)(g	NOUN
cblr-13858	2677	3	)	)	PUNCT
cblr-13858	2677	4	(	(	PUNCT
cblr-13858	2677	5	2010	2010	NUM
cblr-13858	2677	6	)	)	PUNCT
cblr-13858	2677	7	.	.	PUNCT
cblr-13858	2678	1	.o	.o	PROPN
cblr-13858	2678	2	.	.	PUNCT
cblr-13858	2679	1	there	there	PRON
cblr-13858	2679	2	are	be	VERB
cblr-13858	2679	3	actually	actually	ADV
cblr-13858	2679	4	two	two	NUM
cblr-13858	2679	5	versions	version	NOUN
cblr-13858	2679	6	of	of	ADP
cblr-13858	2679	7	the	the	DET
cblr-13858	2679	8	uniform	uniform	NOUN
cblr-13858	2679	9	limited	limited	ADJ
cblr-13858	2679	10	offering	offering	NOUN
cblr-13858	2679	11	exemption	exemption	NOUN
cblr-13858	2679	12	.	.	PUNCT
cblr-13858	2680	1	see	see	VERB
cblr-13858	2680	2	12b	12b	NOUN
cblr-13858	2680	3	long	long	ADV
cblr-13858	2680	4	,	,	PUNCT
cblr-13858	2680	5	supra	supra	PROPN
cblr-13858	2680	6	note	note	NOUN
cblr-13858	2680	7	148	148	NUM
cblr-13858	2680	8	,	,	PUNCT
cblr-13858	2680	9	apps	app	NOUN
cblr-13858	2680	10	.	.	PUNCT
cblr-13858	2681	1	c	c	X
cblr-13858	2681	2	,	,	PUNCT
cblr-13858	2681	3	c-1	c-1	NOUN
cblr-13858	2681	4	.	.	PUNCT
cblr-13858	2682	1	for	for	ADP
cblr-13858	2682	2	a	a	DET
cblr-13858	2682	3	general	general	ADJ
cblr-13858	2682	4	discussion	discussion	NOUN
cblr-13858	2682	5	of	of	ADP
cblr-13858	2682	6	the	the	DET
cblr-13858	2682	7	uloe	uloe	NOUN
cblr-13858	2682	8	,	,	PUNCT
cblr-13858	2682	9	see	see	VERB
cblr-13858	2682	10	12	12	NUM
cblr-13858	2682	11	long	long	ADJ
cblr-13858	2682	12	,	,	PUNCT
cblr-13858	2682	13	supra	supra	PROPN
cblr-13858	2682	14	note	note	NOUN
cblr-13858	2682	15	148	148	NUM
cblr-13858	2682	16	,	,	PUNCT
cblr-13858	2682	17	7	7	NUM
cblr-13858	2682	18	-	-	SYM
cblr-13858	2682	19	85	85	NUM
cblr-13858	2682	20	-	-	PUNCT
cblr-13858	2682	21	7	7	NUM
cblr-13858	2682	22	-	-	PUNCT
cblr-13858	2682	23	107	107	NUM
cblr-13858	2682	24	.	.	PUNCT
cblr-13858	2683	1	70s	70	NOUN
cblr-13858	2683	2	only	only	ADV
cblr-13858	2683	3	four	four	NUM
cblr-13858	2683	4	states	state	NOUN
cblr-13858	2683	5	have	have	VERB
cblr-13858	2683	6	exemptions	exemption	NOUN
cblr-13858	2683	7	for	for	ADP
cblr-13858	2683	8	offerings	offering	NOUN
cblr-13858	2683	9	under	under	ADP
cblr-13858	2683	10	rule	rule	NOUN
cblr-13858	2683	11	504	504	NUM
cblr-13858	2683	12	,	,	PUNCT
cblr-13858	2683	13	and	and	CCONJ
cblr-13858	2683	14	at	at	ADP
cblr-13858	2683	15	no	no	DET
cblr-13858	2683	16	time	time	NOUN
cblr-13858	2683	17	has	have	AUX
cblr-13858	2683	18	there	there	PRON
cblr-13858	2683	19	been	be	AUX
cblr-13858	2683	20	any	any	DET
cblr-13858	2683	21	serious	serious	ADJ
cblr-13858	2683	22	effort	effort	NOUN
cblr-13858	2683	23	to	to	PART
cblr-13858	2683	24	coordinate	coordinate	VERB
cblr-13858	2683	25	the	the	DET
cblr-13858	2683	26	uloe	uloe	NOUN
cblr-13858	2683	27	with	with	ADP
cblr-13858	2683	28	rule	rule	NOUN
cblr-13858	2683	29	504	504	NUM
cblr-13858	2683	30	.	.	PUNCT
cblr-13858	2684	1	12	12	NUM
cblr-13858	2684	2	long	long	ADV
cblr-13858	2684	3	,	,	PUNCT
cblr-13858	2684	4	supra	supra	PROPN
cblr-13858	2684	5	note	note	NOUN
cblr-13858	2684	6	148	148	NUM
cblr-13858	2684	7	,	,	PUNCT
cblr-13858	2684	8	at	at	ADP
cblr-13858	2684	9	7	7	NUM
cblr-13858	2684	10	-	-	SYM
cblr-13858	2684	11	199	199	NUM
cblr-13858	2684	12	.	.	NOUN
cblr-13858	2684	13	7	7	NUM
cblr-13858	2684	14	most	most	ADJ
cblr-13858	2684	15	states	state	NOUN
cblr-13858	2684	16	have	have	AUX
cblr-13858	2684	17	adopted	adopt	VERB
cblr-13858	2684	18	a	a	DET
cblr-13858	2684	19	uniform	uniform	ADJ
cblr-13858	2684	20	private	private	ADJ
cblr-13858	2684	21	offering	offering	NOUN
cblr-13858	2684	22	exemption	exemption	NOUN
cblr-13858	2684	23	that	that	PRON
cblr-13858	2684	24	exempts	exempt	VERB
cblr-13858	2684	25	offerings	offering	NOUN
cblr-13858	2684	26	to	to	ADP
cblr-13858	2684	27	no	no	DET
cblr-13858	2684	28	more	more	ADJ
cblr-13858	2684	29	than	than	ADP
cblr-13858	2684	30	a	a	DET
cblr-13858	2684	31	few	few	ADJ
cblr-13858	2684	32	people	people	NOUN
cblr-13858	2684	33	in	in	ADP
cblr-13858	2684	34	the	the	DET
cblr-13858	2684	35	state	state	NOUN
cblr-13858	2684	36	.	.	PUNCT
cblr-13858	2685	1	see	see	VERB
cblr-13858	2685	2	12	12	NUM
cblr-13858	2685	3	long	long	ADJ
cblr-13858	2685	4	,	,	PUNCT
cblr-13858	2685	5	supra	supra	PROPN
cblr-13858	2685	6	note	note	NOUN
cblr-13858	2685	7	148	148	NUM
cblr-13858	2685	8	.	.	PUNCT
cblr-13858	2686	1	that	that	DET
cblr-13858	2686	2	exemption	exemption	NOUN
cblr-13858	2686	3	is	be	AUX
cblr-13858	2686	4	unlikely	unlikely	ADJ
cblr-13858	2686	5	to	to	PART
cblr-13858	2686	6	work	work	VERB
cblr-13858	2686	7	for	for	ADP
cblr-13858	2686	8	most	most	ADJ
cblr-13858	2686	9	crowdfunded	crowdfunde	VERB
cblr-13858	2686	10	offerings	offering	NOUN
cblr-13858	2686	11	.	.	PUNCT
cblr-13858	2687	1	it	it	PRON
cblr-13858	2687	2	focuses	focus	VERB
cblr-13858	2687	3	on	on	ADP
cblr-13858	2687	4	the	the	DET
cblr-13858	2687	5	number	number	NOUN
cblr-13858	2687	6	of	of	ADP
cblr-13858	2687	7	offerees	offeree	NOUN
cblr-13858	2687	8	in	in	ADP
cblr-13858	2687	9	the	the	DET
cblr-13858	2687	10	state	state	NOUN
cblr-13858	2687	11	,	,	PUNCT
cblr-13858	2687	12	not	not	PART
cblr-13858	2687	13	the	the	DET
cblr-13858	2687	14	number	number	NOUN
cblr-13858	2687	15	of	of	ADP
cblr-13858	2687	16	purchasers	purchaser	NOUN
cblr-13858	2687	17	,	,	PUNCT
cblr-13858	2687	18	effectively	effectively	ADV
cblr-13858	2687	19	precluding	preclude	VERB
cblr-13858	2687	20	publicly	publicly	ADV
cblr-13858	2687	21	advertised	advertise	VERB
cblr-13858	2687	22	offerings	offering	NOUN
cblr-13858	2687	23	.	.	PUNCT
cblr-13858	2688	1	i	i	PRON
cblr-13858	2688	2	d.	d.	PROPN
cblr-13858	2688	3	some	some	DET
cblr-13858	2688	4	states	state	NOUN
cblr-13858	2688	5	have	have	AUX
cblr-13858	2688	6	altered	alter	VERB
cblr-13858	2688	7	their	their	PRON
cblr-13858	2688	8	versions	version	NOUN
cblr-13858	2688	9	of	of	ADP
cblr-13858	2688	10	the	the	DET
cblr-13858	2688	11	exemption	exemption	NOUN
cblr-13858	2688	12	to	to	PART
cblr-13858	2688	13	focus	focus	VERB
cblr-13858	2688	14	on	on	ADP
cblr-13858	2688	15	the	the	DET
cblr-13858	2688	16	number	number	NOUN
cblr-13858	2688	17	of	of	ADP
cblr-13858	2688	18	purchasers	purchaser	NOUN
cblr-13858	2688	19	,	,	PUNCT
cblr-13858	2688	20	but	but	CCONJ
cblr-13858	2688	21	even	even	ADV
cblr-13858	2688	22	some	some	PRON
cblr-13858	2688	23	of	of	ADP
cblr-13858	2688	24	those	those	DET
cblr-13858	2688	25	states	state	NOUN
cblr-13858	2688	26	still	still	ADV
cblr-13858	2688	27	put	put	VERB
cblr-13858	2688	28	an	an	DET
cblr-13858	2688	29	outside	outside	ADJ
cblr-13858	2688	30	limit	limit	NOUN
cblr-13858	2688	31	on	on	ADP
cblr-13858	2688	32	the	the	DET
cblr-13858	2688	33	number	number	NOUN
cblr-13858	2688	34	of	of	ADP
cblr-13858	2688	35	offerees	offeree	NOUN
cblr-13858	2688	36	.	.	PUNCT
cblr-13858	2689	1	i	i	PRON
cblr-13858	2689	2	d.	d.	PROPN
cblr-13858	2689	3	other	other	ADJ
cblr-13858	2689	4	states	state	NOUN
cblr-13858	2689	5	read	read	VERB
cblr-13858	2689	6	a	a	DET
cblr-13858	2689	7	sophistication	sophistication	NOUN
cblr-13858	2689	8	requirement	requirement	NOUN
cblr-13858	2689	9	into	into	ADP
cblr-13858	2689	10	the	the	DET
cblr-13858	2689	11	exemption	exemption	NOUN
cblr-13858	2689	12	,	,	PUNCT
cblr-13858	2689	13	which	which	PRON
cblr-13858	2689	14	would	would	AUX
cblr-13858	2689	15	preclude	preclude	VERB
cblr-13858	2689	16	public	public	ADJ
cblr-13858	2689	17	offerings	offering	NOUN
cblr-13858	2689	18	.	.	PUNCT
cblr-13858	2690	1	i	i	PRON
cblr-13858	2690	2	d.	d.	NOUN
cblr-13858	2690	3	146	146	NUM
cblr-13858	2691	1	[	[	X
cblr-13858	2691	2	vol	vol	NOUN
cblr-13858	2691	3	.	.	PUNCT
cblr-13858	2691	4	2012	2012	NUM
cblr-13858	2691	5	cro	cro	NOUN
cblr-13858	2691	6	wdfunding	wdfunding	NOUN
cblr-13858	2691	7	and	and	CCONJ
cblr-13858	2691	8	securities	security	NOUN
cblr-13858	2691	9	laws	law	NOUN
cblr-13858	2691	10	publicly	publicly	ADV
cblr-13858	2691	11	released	release	VERB
cblr-13858	2691	12	.7	.7	NOUN
cblr-13858	2691	13	"	"	PUNCT
cblr-13858	2691	14	even	even	ADV
cblr-13858	2691	15	if	if	SCONJ
cblr-13858	2691	16	a	a	DET
cblr-13858	2691	17	model	model	NOUN
cblr-13858	2691	18	rule	rule	NOUN
cblr-13858	2691	19	is	be	AUX
cblr-13858	2691	20	developed	develop	VERB
cblr-13858	2691	21	,	,	PUNCT
cblr-13858	2691	22	its	its	PRON
cblr-13858	2691	23	success	success	NOUN
cblr-13858	2691	24	would	would	AUX
cblr-13858	2691	25	depend	depend	VERB
cblr-13858	2691	26	on	on	ADP
cblr-13858	2691	27	uniform	uniform	ADJ
cblr-13858	2691	28	adoption	adoption	NOUN
cblr-13858	2691	29	by	by	ADP
cblr-13858	2691	30	all	all	DET
cblr-13858	2691	31	the	the	DET
cblr-13858	2691	32	states	state	NOUN
cblr-13858	2691	33	,	,	PUNCT
cblr-13858	2691	34	and	and	CCONJ
cblr-13858	2691	35	the	the	DET
cblr-13858	2691	36	history	history	NOUN
cblr-13858	2691	37	of	of	ADP
cblr-13858	2691	38	other	other	ADJ
cblr-13858	2691	39	state	state	NOUN
cblr-13858	2691	40	-	-	PUNCT
cblr-13858	2691	41	coordinated	coordinate	VERB
cblr-13858	2691	42	exemptions	exemption	NOUN
cblr-13858	2691	43	is	be	AUX
cblr-13858	2691	44	not	not	PART
cblr-13858	2691	45	encouraging	encouraging	ADJ
cblr-13858	2691	46	.	.	PUNCT
cblr-13858	2692	1	because	because	SCONJ
cblr-13858	2692	2	of	of	ADP
cblr-13858	2692	3	state	state	NOUN
cblr-13858	2692	4	securities	security	NOUN
cblr-13858	2692	5	law	law	NOUN
cblr-13858	2692	6	,	,	PUNCT
cblr-13858	2692	7	a	a	DET
cblr-13858	2692	8	federal	federal	ADJ
cblr-13858	2692	9	crowdfunding	crowdfunding	NOUN
cblr-13858	2692	10	exemption	exemption	NOUN
cblr-13858	2692	11	would	would	AUX
cblr-13858	2692	12	not	not	PART
cblr-13858	2692	13	by	by	ADP
cblr-13858	2692	14	itself	itself	PRON
cblr-13858	2692	15	allow	allow	VERB
cblr-13858	2692	16	entrepreneurs	entrepreneur	NOUN
cblr-13858	2692	17	to	to	PART
cblr-13858	2692	18	avoid	avoid	VERB
cblr-13858	2692	19	the	the	DET
cblr-13858	2692	20	cost	cost	NOUN
cblr-13858	2692	21	of	of	ADP
cblr-13858	2692	22	regulation	regulation	NOUN
cblr-13858	2692	23	.	.	PUNCT
cblr-13858	2693	1	unless	unless	SCONJ
cblr-13858	2693	2	state	state	NOUN
cblr-13858	2693	3	law	law	NOUN
cblr-13858	2693	4	was	be	AUX
cblr-13858	2693	5	preempted	preempt	VERB
cblr-13858	2693	6	,	,	PUNCT
cblr-13858	2693	7	a	a	DET
cblr-13858	2693	8	federal	federal	ADJ
cblr-13858	2693	9	exemption	exemption	NOUN
cblr-13858	2693	10	would	would	AUX
cblr-13858	2693	11	merely	merely	ADV
cblr-13858	2693	12	shift	shift	VERB
cblr-13858	2693	13	the	the	DET
cblr-13858	2693	14	cost	cost	NOUN
cblr-13858	2693	15	to	to	ADP
cblr-13858	2693	16	another	another	DET
cblr-13858	2693	17	level	level	NOUN
cblr-13858	2693	18	in	in	ADP
cblr-13858	2693	19	the	the	DET
cblr-13858	2693	20	federal	federal	ADJ
cblr-13858	2693	21	system	system	NOUN
cblr-13858	2693	22	.	.	PUNCT
cblr-13858	2694	1	absent	absent	ADJ
cblr-13858	2694	2	corresponding	correspond	VERB
cblr-13858	2694	3	state	state	NOUN
cblr-13858	2694	4	exemptions	exemption	NOUN
cblr-13858	2694	5	,	,	PUNCT
cblr-13858	2694	6	a	a	DET
cblr-13858	2694	7	federal	federal	ADJ
cblr-13858	2694	8	exemption	exemption	NOUN
cblr-13858	2694	9	would	would	AUX
cblr-13858	2694	10	therefore	therefore	ADV
cblr-13858	2694	11	accomplish	accomplish	VERB
cblr-13858	2694	12	little.1	little.1	ADV
cblr-13858	2694	13	'	'	PART
cblr-13858	2694	14	compliance	compliance	NOUN
cblr-13858	2694	15	with	with	ADP
cblr-13858	2694	16	state	state	NOUN
cblr-13858	2694	17	regulation	regulation	NOUN
cblr-13858	2694	18	alone	alone	ADV
cblr-13858	2694	19	is	be	AUX
cblr-13858	2694	20	"	"	PUNCT
cblr-13858	2694	21	prohibitively	prohibitively	ADV
cblr-13858	2694	22	costly	costly	ADJ
cblr-13858	2694	23	if	if	SCONJ
cblr-13858	2694	24	companies	company	NOUN
cblr-13858	2694	25	are	be	AUX
cblr-13858	2694	26	seeking	seek	VERB
cblr-13858	2694	27	to	to	PART
cblr-13858	2694	28	raise	raise	VERB
cblr-13858	2694	29	only	only	ADV
cblr-13858	2694	30	small	small	ADJ
cblr-13858	2694	31	amounts	amount	NOUN
cblr-13858	2694	32	of	of	ADP
cblr-13858	2694	33	money	money	NOUN
cblr-13858	2694	34	.	.	PUNCT
cblr-13858	2695	1	"712	"712	NOUN
cblr-13858	2695	2	therefore	therefore	ADV
cblr-13858	2695	3	,	,	PUNCT
cblr-13858	2695	4	states	state	NOUN
cblr-13858	2695	5	should	should	AUX
cblr-13858	2695	6	be	be	AUX
cblr-13858	2695	7	preempted	preempt	VERB
cblr-13858	2695	8	from	from	ADP
cblr-13858	2695	9	requiring	require	VERB
cblr-13858	2695	10	the	the	DET
cblr-13858	2695	11	registration	registration	NOUN
cblr-13858	2695	12	of	of	ADP
cblr-13858	2695	13	offerings	offering	NOUN
cblr-13858	2695	14	that	that	PRON
cblr-13858	2695	15	comply	comply	VERB
cblr-13858	2695	16	with	with	ADP
cblr-13858	2695	17	the	the	DET
cblr-13858	2695	18	proposed	propose	VERB
cblr-13858	2695	19	crowdfunding	crowdfunding	NOUN
cblr-13858	2695	20	exemption	exemption	NOUN
cblr-13858	2695	21	.	.	PUNCT
cblr-13858	2696	1	"'3	"'3	PUNCT
cblr-13858	2696	2	the	the	DET
cblr-13858	2696	3	most	most	ADV
cblr-13858	2696	4	effective	effective	ADJ
cblr-13858	2696	5	way	way	NOUN
cblr-13858	2696	6	to	to	PART
cblr-13858	2696	7	preempt	preempt	VERB
cblr-13858	2696	8	state	state	NOUN
cblr-13858	2696	9	law	law	NOUN
cblr-13858	2696	10	is	be	AUX
cblr-13858	2696	11	through	through	ADP
cblr-13858	2696	12	congressional	congressional	ADJ
cblr-13858	2696	13	action.1	action.1	CCONJ
cblr-13858	2696	14	congress	congress	PROPN
cblr-13858	2696	15	could	could	AUX
cblr-13858	2696	16	simply	simply	ADV
cblr-13858	2696	17	add	add	VERB
cblr-13858	2696	18	crowdfunded	crowdfunded	ADJ
cblr-13858	2696	19	securities	security	NOUN
cblr-13858	2696	20	to	to	ADP
cblr-13858	2696	21	the	the	DET
cblr-13858	2696	22	existing	exist	VERB
cblr-13858	2696	23	list	list	NOUN
cblr-13858	2696	24	of	of	ADP
cblr-13858	2696	25	preempted	preempted	ADJ
cblr-13858	2696	26	offerings	offering	NOUN
cblr-13858	2696	27	.	.	PUNCT
cblr-13858	2696	28	"	"	PUNCT
cblr-13858	2697	1	this	this	PRON
cblr-13858	2697	2	is	be	AUX
cblr-13858	2697	3	precisely	precisely	ADV
cblr-13858	2697	4	what	what	PRON
cblr-13858	2697	5	house	house	NOUN
cblr-13858	2697	6	bill	bill	NOUN
cblr-13858	2697	7	2930	2930	NUM
cblr-13858	2697	8	proposes	propose	VERB
cblr-13858	2697	9	710	710	NUM
cblr-13858	2697	10	see	see	NOUN
cblr-13858	2697	11	nasaa	nasaa	PROPN
cblr-13858	2697	12	completes	complete	VERB
cblr-13858	2697	13	draft	draft	NOUN
cblr-13858	2697	14	of	of	ADP
cblr-13858	2697	15	model	model	NOUN
cblr-13858	2697	16	crowdfunding	crowdfunding	NOUN
cblr-13858	2697	17	rule	rule	NOUN
cblr-13858	2697	18	,	,	PUNCT
cblr-13858	2697	19	sec	sec	PROPN
cblr-13858	2697	20	.	.	PROPN
cblr-13858	2697	21	l.	l.	PROPN
cblr-13858	2697	22	daily	daily	PROPN
cblr-13858	2697	23	(	(	PUNCT
cblr-13858	2697	24	bna	bna	PROPN
cblr-13858	2697	25	)	)	PUNCT
cblr-13858	2697	26	(	(	PUNCT
cblr-13858	2697	27	dec	dec	PROPN
cblr-13858	2697	28	.	.	PROPN
cblr-13858	2697	29	5	5	NUM
cblr-13858	2697	30	,	,	PUNCT
cblr-13858	2697	31	2011	2011	NUM
cblr-13858	2697	32	)	)	PUNCT
cblr-13858	2697	33	.	.	PUNCT
cblr-13858	2698	1	the	the	DET
cblr-13858	2698	2	model	model	NOUN
cblr-13858	2698	3	rule	rule	NOUN
cblr-13858	2698	4	apparently	apparently	ADV
cblr-13858	2698	5	would	would	AUX
cblr-13858	2698	6	not	not	PART
cblr-13858	2698	7	exempt	exempt	VERB
cblr-13858	2698	8	issuers	issuer	NOUN
cblr-13858	2698	9	from	from	ADP
cblr-13858	2698	10	filing	file	VERB
cblr-13858	2698	11	a	a	DET
cblr-13858	2698	12	state	state	NOUN
cblr-13858	2698	13	disclosure	disclosure	NOUN
cblr-13858	2698	14	document	document	NOUN
cblr-13858	2698	15	.	.	PUNCT
cblr-13858	2699	1	i	i	PRON
cblr-13858	2699	2	d.	d.	PROPN
cblr-13858	2699	3	71	71	NUM
cblr-13858	2700	1	rutheford	rutheford	NOUN
cblr-13858	2700	2	campbell	campbell	PROPN
cblr-13858	2700	3	argues	argue	VERB
cblr-13858	2700	4	that	that	SCONJ
cblr-13858	2700	5	requiring	require	VERB
cblr-13858	2700	6	federally	federally	ADV
cblr-13858	2700	7	exempted	exempt	VERB
cblr-13858	2700	8	small	small	ADJ
cblr-13858	2700	9	business	business	NOUN
cblr-13858	2700	10	offerings	offering	NOUN
cblr-13858	2700	11	to	to	PART
cblr-13858	2700	12	comply	comply	VERB
cblr-13858	2700	13	with	with	ADP
cblr-13858	2700	14	state	state	NOUN
cblr-13858	2700	15	registration	registration	NOUN
cblr-13858	2700	16	requirements	requirement	NOUN
cblr-13858	2700	17	is	be	AUX
cblr-13858	2700	18	inconsistent	inconsistent	ADJ
cblr-13858	2700	19	with	with	ADP
cblr-13858	2700	20	the	the	DET
cblr-13858	2700	21	sec	sec	PROPN
cblr-13858	2700	22	's	's	PART
cblr-13858	2700	23	reckoning	reckoning	NOUN
cblr-13858	2700	24	of	of	ADP
cblr-13858	2700	25	the	the	DET
cblr-13858	2700	26	appropriate	appropriate	ADJ
cblr-13858	2700	27	balance	balance	NOUN
cblr-13858	2700	28	between	between	ADP
cblr-13858	2700	29	investor	investor	NOUN
cblr-13858	2700	30	protection	protection	NOUN
cblr-13858	2700	31	and	and	CCONJ
cblr-13858	2700	32	capital	capital	NOUN
cblr-13858	2700	33	formation	formation	NOUN
cblr-13858	2700	34	and	and	CCONJ
cblr-13858	2700	35	imposes	impose	VERB
cblr-13858	2700	36	an	an	DET
cblr-13858	2700	37	"	"	PUNCT
cblr-13858	2700	38	unwarranted	unwarranted	ADJ
cblr-13858	2700	39	drag	drag	NOUN
cblr-13858	2700	40	on	on	ADP
cblr-13858	2700	41	capital	capital	NOUN
cblr-13858	2700	42	formation	formation	NOUN
cblr-13858	2700	43	.	.	PUNCT
cblr-13858	2700	44	"	"	PUNCT
cblr-13858	2701	1	rutheford	rutheford	PROPN
cblr-13858	2701	2	b.	b.	PROPN
cblr-13858	2701	3	campbell	campbell	PROPN
cblr-13858	2701	4	,	,	PUNCT
cblr-13858	2701	5	jr	jr	PROPN
cblr-13858	2701	6	.	.	PROPN
cblr-13858	2701	7	,	,	PUNCT
cblr-13858	2701	8	blue	blue	ADJ
cblr-13858	2701	9	sky	sky	NOUN
cblr-13858	2701	10	laws	law	NOUN
cblr-13858	2701	11	and	and	CCONJ
cblr-13858	2701	12	the	the	DET
cblr-13858	2701	13	recent	recent	ADJ
cblr-13858	2701	14	congressional	congressional	ADJ
cblr-13858	2701	15	preemption	preemption	NOUN
cblr-13858	2701	16	failure	failure	NOUN
cblr-13858	2701	17	,	,	PUNCT
cblr-13858	2701	18	22	22	NUM
cblr-13858	2701	19	j.	j.	PROPN
cblr-13858	2701	20	corp	corp	PROPN
cblr-13858	2701	21	.	.	PROPN
cblr-13858	2701	22	l.	l.	PROPN
cblr-13858	2701	23	175	175	NUM
cblr-13858	2701	24	,	,	PUNCT
cblr-13858	2701	25	208	208	NUM
cblr-13858	2701	26	(	(	PUNCT
cblr-13858	2701	27	1997	1997	NUM
cblr-13858	2701	28	)	)	PUNCT
cblr-13858	2702	1	[	[	X
cblr-13858	2702	2	hereinafter	hereinafter	NOUN
cblr-13858	2702	3	campbell	campbell	PROPN
cblr-13858	2702	4	,	,	PUNCT
cblr-13858	2702	5	blue	blue	ADJ
cblr-13858	2702	6	sky	sky	NOUN
cblr-13858	2702	7	laws	law	NOUN
cblr-13858	2702	8	]	]	PUNCT
cblr-13858	2702	9	.	.	PUNCT
cblr-13858	2703	1	more	more	ADV
cblr-13858	2703	2	recently	recently	ADV
cblr-13858	2703	3	,	,	PUNCT
cblr-13858	2703	4	campbell	campbell	PROPN
cblr-13858	2703	5	has	have	AUX
cblr-13858	2703	6	called	call	VERB
cblr-13858	2703	7	for	for	ADP
cblr-13858	2703	8	the	the	DET
cblr-13858	2703	9	complete	complete	ADJ
cblr-13858	2703	10	preemption	preemption	NOUN
cblr-13858	2703	11	of	of	ADP
cblr-13858	2703	12	all	all	DET
cblr-13858	2703	13	state	state	NOUN
cblr-13858	2703	14	registration	registration	NOUN
cblr-13858	2703	15	requirements	requirement	NOUN
cblr-13858	2703	16	.	.	PUNCT
cblr-13858	2704	1	see	see	VERB
cblr-13858	2704	2	rutheford	rutheford	PROPN
cblr-13858	2704	3	b.	b.	PROPN
cblr-13858	2704	4	campbell	campbell	PROPN
cblr-13858	2704	5	,	,	PUNCT
cblr-13858	2704	6	jr	jr	PROPN
cblr-13858	2704	7	.	.	PROPN
cblr-13858	2704	8	,	,	PUNCT
cblr-13858	2704	9	federalism	federalism	NOUN
cblr-13858	2704	10	gone	go	VERB
cblr-13858	2704	11	amuck	amuck	ADV
cblr-13858	2704	12	:	:	PUNCT
cblr-13858	2704	13	the	the	DET
cblr-13858	2704	14	case	case	NOUN
cblr-13858	2704	15	for	for	ADP
cblr-13858	2704	16	reallocating	reallocate	VERB
cblr-13858	2704	17	governmental	governmental	ADJ
cblr-13858	2704	18	authority	authority	NOUN
cblr-13858	2704	19	over	over	ADP
cblr-13858	2704	20	the	the	DET
cblr-13858	2704	21	capital	capital	NOUN
cblr-13858	2704	22	formation	formation	NOUN
cblr-13858	2704	23	activities	activity	NOUN
cblr-13858	2704	24	of	of	ADP
cblr-13858	2704	25	businesses	business	NOUN
cblr-13858	2704	26	,	,	PUNCT
cblr-13858	2704	27	50	50	NUM
cblr-13858	2704	28	washburn	washburn	NOUN
cblr-13858	2704	29	l.j	l.j	PROPN
cblr-13858	2704	30	.	.	PROPN
cblr-13858	2704	31	573	573	NUM
cblr-13858	2704	32	(	(	PUNCT
cblr-13858	2704	33	2011	2011	NUM
cblr-13858	2704	34	)	)	PUNCT
cblr-13858	2704	35	.	.	PUNCT
cblr-13858	2705	1	712	712	NUM
cblr-13858	2705	2	shane	shane	NOUN
cblr-13858	2705	3	,	,	PUNCT
cblr-13858	2705	4	supra	supra	PROPN
cblr-13858	2705	5	note	note	NOUN
cblr-13858	2705	6	588	588	NUM
cblr-13858	2705	7	.	.	NOUN
cblr-13858	2705	8	711	711	NUM
cblr-13858	2705	9	others	other	NOUN
cblr-13858	2705	10	agree	agree	VERB
cblr-13858	2705	11	that	that	SCONJ
cblr-13858	2705	12	any	any	DET
cblr-13858	2705	13	crowdfunding	crowdfunding	NOUN
cblr-13858	2705	14	exemption	exemption	NOUN
cblr-13858	2705	15	should	should	AUX
cblr-13858	2705	16	preempt	preempt	VERB
cblr-13858	2705	17	state	state	NOUN
cblr-13858	2705	18	law	law	NOUN
cblr-13858	2705	19	.	.	PUNCT
cblr-13858	2706	1	see	see	VERB
cblr-13858	2706	2	heminway	heminway	PROPN
cblr-13858	2706	3	&	&	CCONJ
cblr-13858	2706	4	hoffman	hoffman	PROPN
cblr-13858	2706	5	,	,	PUNCT
cblr-13858	2706	6	supra	supra	PROPN
cblr-13858	2706	7	note	note	PROPN
cblr-13858	2706	8	142	142	NUM
cblr-13858	2706	9	,	,	PUNCT
cblr-13858	2706	10	at	at	ADP
cblr-13858	2706	11	960	960	NUM
cblr-13858	2706	12	;	;	PUNCT
cblr-13858	2706	13	pope	pope	NOUN
cblr-13858	2706	14	,	,	PUNCT
cblr-13858	2706	15	supra	supra	PROPN
cblr-13858	2706	16	note	note	PROPN
cblr-13858	2706	17	99	99	NUM
cblr-13858	2706	18	,	,	PUNCT
cblr-13858	2706	19	at	at	ADP
cblr-13858	2706	20	1000	1000	NUM
cblr-13858	2706	21	.	.	PUNCT
cblr-13858	2707	1	714	714	NUM
cblr-13858	2707	2	see	see	VERB
cblr-13858	2707	3	cohn	cohn	PROPN
cblr-13858	2707	4	&	&	CCONJ
cblr-13858	2707	5	yadley	yadley	PROPN
cblr-13858	2707	6	,	,	PUNCT
cblr-13858	2707	7	supra	supra	PROPN
cblr-13858	2707	8	note	note	PROPN
cblr-13858	2707	9	11	11	NUM
cblr-13858	2707	10	,	,	PUNCT
cblr-13858	2707	11	at	at	ADP
cblr-13858	2707	12	82	82	NUM
cblr-13858	2707	13	(	(	PUNCT
cblr-13858	2707	14	calling	call	VERB
cblr-13858	2707	15	for	for	ADP
cblr-13858	2707	16	congressional	congressional	ADJ
cblr-13858	2707	17	action	action	NOUN
cblr-13858	2707	18	to	to	PART
cblr-13858	2707	19	preempt	preempt	VERB
cblr-13858	2707	20	state	state	NOUN
cblr-13858	2707	21	registration	registration	NOUN
cblr-13858	2707	22	requirements	requirement	NOUN
cblr-13858	2707	23	for	for	ADP
cblr-13858	2707	24	all	all	DET
cblr-13858	2707	25	federally	federally	ADV
cblr-13858	2707	26	exempted	exempt	VERB
cblr-13858	2707	27	offerings	offering	NOUN
cblr-13858	2707	28	except	except	SCONJ
cblr-13858	2707	29	the	the	DET
cblr-13858	2707	30	intrastate	intrastate	ADJ
cblr-13858	2707	31	exemption	exemption	NOUN
cblr-13858	2707	32	)	)	PUNCT
cblr-13858	2707	33	.	.	PUNCT
cblr-13858	2708	1	711	711	NUM
cblr-13858	2708	2	see	see	VERB
cblr-13858	2708	3	securities	security	NOUN
cblr-13858	2708	4	act	act	NOUN
cblr-13858	2708	5	of	of	ADP
cblr-13858	2708	6	1933	1933	NUM
cblr-13858	2708	7	§	§	PROPN
cblr-13858	2708	8	18	18	NUM
cblr-13858	2708	9	,	,	PUNCT
cblr-13858	2708	10	15	15	NUM
cblr-13858	2708	11	u.s.c	u.s.c	ADJ
cblr-13858	2708	12	.	.	PUNCT
cblr-13858	2709	1	§	§	PROPN
cblr-13858	2709	2	77r	77r	NOUN
cblr-13858	2709	3	(	(	PUNCT
cblr-13858	2709	4	2010	2010	NUM
cblr-13858	2709	5	)	)	PUNCT
cblr-13858	2709	6	.	.	PUNCT
cblr-13858	2710	1	no	no	INTJ
cblr-13858	2710	2	.	.	PUNCT
cblr-13858	2711	1	i:1	i:1	PROPN
cblr-13858	2711	2	]	]	X
cblr-13858	2711	3	147	147	NUM
cblr-13858	2711	4	to	to	PART
cblr-13858	2711	5	do	do	VERB
cblr-13858	2711	6	.	.	PUNCT
cblr-13858	2712	1	however	however	ADV
cblr-13858	2712	2	,	,	PUNCT
cblr-13858	2712	3	even	even	ADV
cblr-13858	2712	4	house	house	NOUN
cblr-13858	2712	5	bill	bill	PROPN
cblr-13858	2712	6	2930	2930	NUM
cblr-13858	2712	7	preempts	preempt	VERB
cblr-13858	2712	8	only	only	ADV
cblr-13858	2712	9	state	state	NOUN
cblr-13858	2712	10	offering	offer	VERB
cblr-13858	2712	11	registration	registration	NOUN
cblr-13858	2712	12	requirements	requirement	NOUN
cblr-13858	2712	13	.	.	PUNCT
cblr-13858	2713	1	it	it	PRON
cblr-13858	2713	2	leaves	leave	VERB
cblr-13858	2713	3	the	the	DET
cblr-13858	2713	4	states	state	NOUN
cblr-13858	2713	5	free	free	ADJ
cblr-13858	2713	6	to	to	PART
cblr-13858	2713	7	regulate	regulate	VERB
cblr-13858	2713	8	crowdfunding	crowdfunding	NOUN
cblr-13858	2713	9	intermediaries	intermediary	NOUN
cblr-13858	2713	10	as	as	ADP
cblr-13858	2713	11	brokers	broker	NOUN
cblr-13858	2713	12	.	.	PUNCT
cblr-13858	2714	1	another	another	DET
cblr-13858	2714	2	possibility	possibility	NOUN
cblr-13858	2714	3	is	be	AUX
cblr-13858	2714	4	intriguing	intriguing	ADJ
cblr-13858	2714	5	,	,	PUNCT
cblr-13858	2714	6	but	but	CCONJ
cblr-13858	2714	7	it	it	PRON
cblr-13858	2714	8	is	be	AUX
cblr-13858	2714	9	less	less	ADV
cblr-13858	2714	10	likely	likely	ADJ
cblr-13858	2714	11	.	.	PUNCT
cblr-13858	2715	1	section	section	NOUN
cblr-13858	2715	2	18(b)(3	18(b)(3	NUM
cblr-13858	2715	3	)	)	PUNCT
cblr-13858	2715	4	of	of	ADP
cblr-13858	2715	5	the	the	DET
cblr-13858	2715	6	securities	security	NOUN
cblr-13858	2715	7	act	act	PROPN
cblr-13858	2715	8	preempts	preempt	VERB
cblr-13858	2715	9	state	state	NOUN
cblr-13858	2715	10	securities	security	NOUN
cblr-13858	2715	11	requirements	requirement	NOUN
cblr-13858	2715	12	"	"	PUNCT
cblr-13858	2715	13	with	with	ADP
cblr-13858	2715	14	respect	respect	NOUN
cblr-13858	2715	15	to	to	ADP
cblr-13858	2715	16	the	the	DET
cblr-13858	2715	17	offer	offer	NOUN
cblr-13858	2715	18	or	or	CCONJ
cblr-13858	2715	19	sale	sale	NOUN
cblr-13858	2715	20	...	...	PUNCT
cblr-13858	2716	1	[	[	X
cblr-13858	2716	2	of	of	ADP
cblr-13858	2716	3	securities	security	NOUN
cblr-13858	2716	4	]	]	PUNCT
cblr-13858	2716	5	.	.	PUNCT
cblr-13858	2716	6	.	.	PUNCT
cblr-13858	2716	7	.	.	PUNCT
cblr-13858	2717	1	to	to	ADP
cblr-13858	2717	2	qualified	qualified	ADJ
cblr-13858	2717	3	purchasers	purchaser	NOUN
cblr-13858	2717	4	,	,	PUNCT
cblr-13858	2717	5	as	as	SCONJ
cblr-13858	2717	6	defined	define	VERB
cblr-13858	2717	7	by	by	ADP
cblr-13858	2717	8	the	the	DET
cblr-13858	2717	9	commission	commission	NOUN
cblr-13858	2717	10	by	by	ADP
cblr-13858	2717	11	rule	rule	NOUN
cblr-13858	2717	12	.	.	PUNCT
cblr-13858	2718	1	"n	"n	PRON
cblr-13858	2718	2	'	'	PUNCT
cblr-13858	2718	3	the	the	DET
cblr-13858	2718	4	statute	statute	NOUN
cblr-13858	2718	5	itself	itself	PRON
cblr-13858	2718	6	does	do	AUX
cblr-13858	2718	7	not	not	PART
cblr-13858	2718	8	define	define	VERB
cblr-13858	2718	9	"	"	PUNCT
cblr-13858	2718	10	qualified	qualified	ADJ
cblr-13858	2718	11	purchaser	purchaser	NOUN
cblr-13858	2718	12	;	;	PUNCT
cblr-13858	2718	13	"	"	PUNCT
cblr-13858	2718	14	instead	instead	ADV
cblr-13858	2718	15	,	,	PUNCT
cblr-13858	2718	16	it	it	PRON
cblr-13858	2718	17	says	say	VERB
cblr-13858	2718	18	that	that	SCONJ
cblr-13858	2718	19	the	the	DET
cblr-13858	2718	20	sec	sec	PROPN
cblr-13858	2718	21	"	"	PUNCT
cblr-13858	2718	22	may	may	AUX
cblr-13858	2718	23	define	define	VERB
cblr-13858	2718	24	the	the	DET
cblr-13858	2718	25	term	term	NOUN
cblr-13858	2718	26	.	.	PUNCT
cblr-13858	2718	27	.	.	PUNCT
cblr-13858	2718	28	.	.	PUNCT
cblr-13858	2719	1	differently	differently	ADV
cblr-13858	2719	2	with	with	ADP
cblr-13858	2719	3	respect	respect	NOUN
cblr-13858	2719	4	to	to	ADP
cblr-13858	2719	5	different	different	ADJ
cblr-13858	2719	6	categories	category	NOUN
cblr-13858	2719	7	of	of	ADP
cblr-13858	2719	8	securities	security	NOUN
cblr-13858	2719	9	,	,	PUNCT
cblr-13858	2719	10	consistent	consistent	ADJ
cblr-13858	2719	11	with	with	ADP
cblr-13858	2719	12	the	the	DET
cblr-13858	2719	13	public	public	ADJ
cblr-13858	2719	14	interest	interest	NOUN
cblr-13858	2719	15	and	and	CCONJ
cblr-13858	2719	16	the	the	DET
cblr-13858	2719	17	protection	protection	NOUN
cblr-13858	2719	18	of	of	ADP
cblr-13858	2719	19	investors	investor	NOUN
cblr-13858	2719	20	.	.	PUNCT
cblr-13858	2720	1	"	"	PUNCT
cblr-13858	2720	2	"	"	PUNCT
cblr-13858	2720	3	'	'	PUNCT
cblr-13858	2720	4	the	the	DET
cblr-13858	2720	5	sec	sec	PROPN
cblr-13858	2720	6	could	could	AUX
cblr-13858	2720	7	define	define	VERB
cblr-13858	2720	8	the	the	DET
cblr-13858	2720	9	term	term	NOUN
cblr-13858	2720	10	"	"	PUNCT
cblr-13858	2720	11	qualified	qualified	ADJ
cblr-13858	2720	12	purchaser	purchaser	NOUN
cblr-13858	2720	13	"	"	PUNCT
cblr-13858	2720	14	to	to	PART
cblr-13858	2720	15	include	include	VERB
cblr-13858	2720	16	everyone	everyone	PRON
cblr-13858	2720	17	who	who	PRON
cblr-13858	2720	18	purchases	purchase	VERB
cblr-13858	2720	19	in	in	ADP
cblr-13858	2720	20	a	a	DET
cblr-13858	2720	21	federally	federally	ADV
cblr-13858	2720	22	exempted	exempt	VERB
cblr-13858	2720	23	crowdfunding	crowdfunding	NOUN
cblr-13858	2720	24	offering	offering	NOUN
cblr-13858	2720	25	,	,	PUNCT
cblr-13858	2720	26	thereby	thereby	ADV
cblr-13858	2720	27	exempting	exempt	VERB
cblr-13858	2720	28	crowdfunding	crowdfunding	NOUN
cblr-13858	2720	29	offerings	offering	NOUN
cblr-13858	2720	30	from	from	ADP
cblr-13858	2720	31	state	state	NOUN
cblr-13858	2720	32	registration	registration	NOUN
cblr-13858	2720	33	requirements	requirement	NOUN
cblr-13858	2720	34	.	.	PUNCT
cblr-13858	2720	35	"	"	PUNCT
cblr-13858	2721	1	this	this	PRON
cblr-13858	2721	2	would	would	AUX
cblr-13858	2721	3	not	not	PART
cblr-13858	2721	4	solve	solve	VERB
cblr-13858	2721	5	the	the	DET
cblr-13858	2721	6	"	"	PUNCT
cblr-13858	2721	7	broker	broker	NOUN
cblr-13858	2721	8	"	"	PUNCT
cblr-13858	2721	9	or	or	CCONJ
cblr-13858	2721	10	"	"	PUNCT
cblr-13858	2721	11	investment	investment	NOUN
cblr-13858	2721	12	adviser	adviser	NOUN
cblr-13858	2721	13	"	"	PUNCT
cblr-13858	2721	14	issues	issue	NOUN
cblr-13858	2721	15	under	under	ADP
cblr-13858	2721	16	state	state	NOUN
cblr-13858	2721	17	law	law	NOUN
cblr-13858	2721	18	,	,	PUNCT
cblr-13858	2721	19	but	but	CCONJ
cblr-13858	2721	20	it	it	PRON
cblr-13858	2721	21	would	would	AUX
cblr-13858	2721	22	exempt	exempt	VERB
cblr-13858	2721	23	the	the	DET
cblr-13858	2721	24	offerings	offering	NOUN
cblr-13858	2721	25	themselves	themselves	PRON
cblr-13858	2721	26	from	from	ADP
cblr-13858	2721	27	registration	registration	NOUN
cblr-13858	2721	28	.	.	PUNCT
cblr-13858	2722	1	however	however	ADV
cblr-13858	2722	2	,	,	PUNCT
cblr-13858	2722	3	it	it	PRON
cblr-13858	2722	4	is	be	AUX
cblr-13858	2722	5	reasonably	reasonably	ADV
cblr-13858	2722	6	clear	clear	ADJ
cblr-13858	2722	7	that	that	SCONJ
cblr-13858	2722	8	when	when	SCONJ
cblr-13858	2722	9	congress	congress	PROPN
cblr-13858	2722	10	added	add	VERB
cblr-13858	2722	11	this	this	DET
cblr-13858	2722	12	provision	provision	NOUN
cblr-13858	2722	13	to	to	ADP
cblr-13858	2722	14	the	the	DET
cblr-13858	2722	15	securities	security	NOUN
cblr-13858	2722	16	act	act	PROPN
cblr-13858	2722	17	,	,	PUNCT
cblr-13858	2722	18	in	in	ADP
cblr-13858	2722	19	the	the	DET
cblr-13858	2722	20	national	national	ADJ
cblr-13858	2722	21	securities	securities	PROPN
cblr-13858	2722	22	market	market	NOUN
cblr-13858	2722	23	improvement	improvement	NOUN
cblr-13858	2722	24	act	act	NOUN
cblr-13858	2722	25	of	of	ADP
cblr-13858	2722	26	1996	1996	NUM
cblr-13858	2722	27	,	,	PUNCT
cblr-13858	2722	28	it	it	PRON
cblr-13858	2722	29	intended	intend	VERB
cblr-13858	2722	30	"	"	PUNCT
cblr-13858	2722	31	qualified	qualified	ADJ
cblr-13858	2722	32	purchaser	purchaser	NOUN
cblr-13858	2722	33	"	"	PUNCT
cblr-13858	2722	34	to	to	PART
cblr-13858	2722	35	encompass	encompass	VERB
cblr-13858	2722	36	only	only	ADV
cblr-13858	2722	37	"	"	PUNCT
cblr-13858	2722	38	sophisticated	sophisticated	ADJ
cblr-13858	2722	39	investors	investor	NOUN
cblr-13858	2722	40	,	,	PUNCT
cblr-13858	2722	41	capable	capable	ADJ
cblr-13858	2722	42	of	of	ADP
cblr-13858	2722	43	protecting	protect	VERB
cblr-13858	2722	44	themselves	themselves	PRON
cblr-13858	2722	45	in	in	ADP
cblr-13858	2722	46	a	a	DET
cblr-13858	2722	47	manner	manner	NOUN
cblr-13858	2722	48	that	that	SCONJ
cblr-13858	2722	49	716	716	NUM
cblr-13858	2722	50	senate	senate	PROPN
cblr-13858	2722	51	bill	bill	NOUN
cblr-13858	2722	52	1791	1791	NUM
cblr-13858	2722	53	takes	take	VERB
cblr-13858	2722	54	a	a	DET
cblr-13858	2722	55	slightly	slightly	ADV
cblr-13858	2722	56	more	more	ADJ
cblr-13858	2722	57	conservative	conservative	ADJ
cblr-13858	2722	58	approach	approach	NOUN
cblr-13858	2722	59	.	.	PUNCT
cblr-13858	2723	1	it	it	PRON
cblr-13858	2723	2	preempts	preempt	VERB
cblr-13858	2723	3	state	state	NOUN
cblr-13858	2723	4	offering	offering	NOUN
cblr-13858	2723	5	registration	registration	NOUN
cblr-13858	2723	6	requirements	requirement	NOUN
cblr-13858	2723	7	,	,	PUNCT
cblr-13858	2723	8	but	but	CCONJ
cblr-13858	2723	9	allows	allow	VERB
cblr-13858	2723	10	the	the	DET
cblr-13858	2723	11	issuer	issuer	NOUN
cblr-13858	2723	12	's	's	PART
cblr-13858	2723	13	home	home	NOUN
cblr-13858	2723	14	state	state	NOUN
cblr-13858	2723	15	,	,	PUNCT
cblr-13858	2723	16	and	and	CCONJ
cblr-13858	2723	17	any	any	DET
cblr-13858	2723	18	state	state	NOUN
cblr-13858	2723	19	in	in	ADP
cblr-13858	2723	20	which	which	PRON
cblr-13858	2723	21	the	the	DET
cblr-13858	2723	22	purchasers	purchaser	NOUN
cblr-13858	2723	23	of	of	ADP
cblr-13858	2723	24	more	more	ADJ
cblr-13858	2723	25	than	than	ADP
cblr-13858	2723	26	50	50	NUM
cblr-13858	2723	27	%	%	NOUN
cblr-13858	2723	28	of	of	ADP
cblr-13858	2723	29	the	the	DET
cblr-13858	2723	30	offering	offering	NOUN
cblr-13858	2723	31	amount	amount	NOUN
cblr-13858	2723	32	reside	reside	VERB
cblr-13858	2723	33	,	,	PUNCT
cblr-13858	2723	34	to	to	PART
cblr-13858	2723	35	require	require	VERB
cblr-13858	2723	36	notice	notice	NOUN
cblr-13858	2723	37	filings	filing	NOUN
cblr-13858	2723	38	and	and	CCONJ
cblr-13858	2723	39	charge	charge	NOUN
cblr-13858	2723	40	fees	fee	NOUN
cblr-13858	2723	41	.	.	PUNCT
cblr-13858	2724	1	see	see	VERB
cblr-13858	2724	2	supra	supra	PROPN
cblr-13858	2724	3	part	part	NOUN
cblr-13858	2724	4	v.g.2	v.g.2	NOUN
cblr-13858	2724	5	.	.	PUNCT
cblr-13858	2724	6	"	"	PUNCT
cblr-13858	2725	1	securities	security	NOUN
cblr-13858	2725	2	act	act	NOUN
cblr-13858	2725	3	of	of	ADP
cblr-13858	2725	4	1933	1933	NUM
cblr-13858	2725	5	§	§	PROPN
cblr-13858	2725	6	18(b)(3	18(b)(3	NUM
cblr-13858	2725	7	)	)	PUNCT
cblr-13858	2725	8	,	,	PUNCT
cblr-13858	2725	9	15	15	NUM
cblr-13858	2725	10	u.s.c	u.s.c	ADJ
cblr-13858	2725	11	.	.	PUNCT
cblr-13858	2726	1	§	§	PROPN
cblr-13858	2726	2	77r(b)(3	77r(b)(3	PROPN
cblr-13858	2726	3	)	)	PUNCT
cblr-13858	2726	4	(	(	PUNCT
cblr-13858	2726	5	2010	2010	NUM
cblr-13858	2726	6	)	)	PUNCT
cblr-13858	2726	7	.	.	PUNCT
cblr-13858	2727	1	718	718	NUM
cblr-13858	2728	1	i	i	PRON
cblr-13858	2728	2	d.	d.	PROPN
cblr-13858	2728	3	71	71	NUM
cblr-13858	2728	4	others	other	NOUN
cblr-13858	2728	5	have	have	AUX
cblr-13858	2728	6	made	make	VERB
cblr-13858	2728	7	similar	similar	ADJ
cblr-13858	2728	8	suggestions	suggestion	NOUN
cblr-13858	2728	9	.	.	PUNCT
cblr-13858	2729	1	shortly	shortly	ADV
cblr-13858	2729	2	after	after	SCONJ
cblr-13858	2729	3	these	these	DET
cblr-13858	2729	4	preemption	preemption	NOUN
cblr-13858	2729	5	provisions	provision	NOUN
cblr-13858	2729	6	were	be	AUX
cblr-13858	2729	7	added	add	VERB
cblr-13858	2729	8	by	by	ADP
cblr-13858	2729	9	the	the	DET
cblr-13858	2729	10	national	national	PROPN
cblr-13858	2729	11	securities	securities	PROPN
cblr-13858	2729	12	markets	markets	PROPN
cblr-13858	2729	13	improvement	improvement	PROPN
cblr-13858	2729	14	act	act	NOUN
cblr-13858	2729	15	of	of	ADP
cblr-13858	2729	16	1996	1996	NUM
cblr-13858	2729	17	,	,	PUNCT
cblr-13858	2729	18	campbell	campbell	PROPN
cblr-13858	2729	19	proposed	propose	VERB
cblr-13858	2729	20	that	that	SCONJ
cblr-13858	2729	21	the	the	DET
cblr-13858	2729	22	sec	sec	PROPN
cblr-13858	2729	23	define	define	VERB
cblr-13858	2729	24	"	"	PUNCT
cblr-13858	2729	25	qualified	qualified	ADJ
cblr-13858	2729	26	purchaser	purchaser	NOUN
cblr-13858	2729	27	"	"	PUNCT
cblr-13858	2729	28	to	to	PART
cblr-13858	2729	29	include	include	VERB
cblr-13858	2729	30	all	all	DET
cblr-13858	2729	31	purchasers	purchaser	NOUN
cblr-13858	2729	32	in	in	ADP
cblr-13858	2729	33	offerings	offering	NOUN
cblr-13858	2729	34	pursuant	pursuant	ADJ
cblr-13858	2729	35	to	to	ADP
cblr-13858	2729	36	the	the	DET
cblr-13858	2729	37	rules	rule	NOUN
cblr-13858	2729	38	504	504	NUM
cblr-13858	2729	39	,	,	PUNCT
cblr-13858	2729	40	505	505	NUM
cblr-13858	2729	41	,	,	PUNCT
cblr-13858	2729	42	147	147	NUM
cblr-13858	2729	43	,	,	PUNCT
cblr-13858	2729	44	and	and	CCONJ
cblr-13858	2729	45	regulation	regulation	VERB
cblr-13858	2729	46	a	a	DET
cblr-13858	2729	47	exemptions	exemption	NOUN
cblr-13858	2729	48	.	.	PUNCT
cblr-13858	2730	1	campbell	campbell	PROPN
cblr-13858	2730	2	,	,	PUNCT
cblr-13858	2730	3	blue	blue	ADJ
cblr-13858	2730	4	sky	sky	NOUN
cblr-13858	2730	5	laws	law	NOUN
cblr-13858	2730	6	,	,	PUNCT
cblr-13858	2730	7	supra	supra	PROPN
cblr-13858	2730	8	note	note	NOUN
cblr-13858	2730	9	711	711	NUM
cblr-13858	2730	10	,	,	PUNCT
cblr-13858	2730	11	at	at	ADP
cblr-13858	2730	12	207	207	NUM
cblr-13858	2730	13	.	.	PUNCT
cblr-13858	2731	1	see	see	VERB
cblr-13858	2731	2	also	also	ADV
cblr-13858	2731	3	sjostrom	sjostrom	ADJ
cblr-13858	2731	4	,	,	PUNCT
cblr-13858	2731	5	supra	supra	PROPN
cblr-13858	2731	6	note	note	NOUN
cblr-13858	2731	7	198	198	NUM
cblr-13858	2731	8	,	,	PUNCT
cblr-13858	2731	9	at	at	ADP
cblr-13858	2731	10	58788	58788	NUM
cblr-13858	2731	11	(	(	PUNCT
cblr-13858	2731	12	noting	note	VERB
cblr-13858	2731	13	this	this	PRON
cblr-13858	2731	14	as	as	ADP
cblr-13858	2731	15	a	a	DET
cblr-13858	2731	16	possible	possible	ADJ
cblr-13858	2731	17	solution	solution	NOUN
cblr-13858	2731	18	to	to	ADP
cblr-13858	2731	19	the	the	DET
cblr-13858	2731	20	problem	problem	NOUN
cblr-13858	2731	21	state	state	NOUN
cblr-13858	2731	22	regulation	regulation	NOUN
cblr-13858	2731	23	poses	pose	NOUN
cblr-13858	2731	24	to	to	ADP
cblr-13858	2731	25	internet	internet	NOUN
cblr-13858	2731	26	offerings	offering	NOUN
cblr-13858	2731	27	)	)	PUNCT
cblr-13858	2731	28	.	.	PUNCT
cblr-13858	2732	1	[	[	X
cblr-13858	2732	2	vol	vol	NOUN
cblr-13858	2732	3	.	.	PROPN
cblr-13858	2732	4	2012148	2012148	NUM
cblr-13858	2732	5	col	col	PROPN
cblr-13858	2732	6	umbia	umbia	PROPN
cblr-13858	2732	7	business	business	PROPN
cblr-13858	2732	8	la	la	PROPN
cblr-13858	2732	9	w	w	PROPN
cblr-13858	2732	10	re	re	PROPN
cblr-13858	2732	11	vie	vie	PROPN
cblr-13858	2732	12	w	w	PROPN
cblr-13858	2732	13	renders	render	VERB
cblr-13858	2732	14	regulation	regulation	NOUN
cblr-13858	2732	15	by	by	ADP
cblr-13858	2732	16	state	state	NOUN
cblr-13858	2732	17	authorities	authority	NOUN
cblr-13858	2732	18	unnecessary	unnecessary	ADJ
cblr-13858	2732	19	.	.	PUNCT
cblr-13858	2733	1	"72	"72	NOUN
cblr-13858	2733	2	0	0	NUM
cblr-13858	2733	3	rutheford	rutheford	NOUN
cblr-13858	2733	4	campbell	campbell	PROPN
cblr-13858	2733	5	argues	argue	VERB
cblr-13858	2733	6	that	that	SCONJ
cblr-13858	2733	7	this	this	DET
cblr-13858	2733	8	legislative	legislative	ADJ
cblr-13858	2733	9	history	history	NOUN
cblr-13858	2733	10	should	should	AUX
cblr-13858	2733	11	not	not	PART
cblr-13858	2733	12	limit	limit	VERB
cblr-13858	2733	13	the	the	DET
cblr-13858	2733	14	sec	sec	PROPN
cblr-13858	2733	15	,	,	PUNCT
cblr-13858	2733	16	721	721	NUM
cblr-13858	2733	17	but	but	CCONJ
cblr-13858	2733	18	the	the	DET
cblr-13858	2733	19	sec	sec	PROPN
cblr-13858	2733	20	proposal	proposal	NOUN
cblr-13858	2733	21	to	to	PART
cblr-13858	2733	22	implement	implement	VERB
cblr-13858	2733	23	section	section	NOUN
cblr-13858	2733	24	18(b)(3	18(b)(3	NUM
cblr-13858	2733	25	)	)	PUNCT
cblr-13858	2733	26	,	,	PUNCT
cblr-13858	2733	27	still	still	ADV
cblr-13858	2733	28	not	not	PART
cblr-13858	2733	29	adopted	adopt	VERB
cblr-13858	2733	30	,	,	PUNCT
cblr-13858	2733	31	equates	equate	VERB
cblr-13858	2733	32	the	the	DET
cblr-13858	2733	33	term	term	NOUN
cblr-13858	2733	34	qualified	qualified	ADJ
cblr-13858	2733	35	purchaser	purchaser	NOUN
cblr-13858	2733	36	with	with	ADP
cblr-13858	2733	37	the	the	DET
cblr-13858	2733	38	term	term	NOUN
cblr-13858	2733	39	"	"	PUNCT
cblr-13858	2733	40	accredited	accredited	ADJ
cblr-13858	2733	41	investor	investor	NOUN
cblr-13858	2733	42	"	"	PUNCT
cblr-13858	2733	43	in	in	ADP
cblr-13858	2733	44	regulation	regulation	NOUN
cblr-13858	2733	45	d.	d.	NOUN
cblr-13858	2733	46	722	722	NUM
cblr-13858	2733	47	because	because	SCONJ
cblr-13858	2733	48	most	most	ADJ
cblr-13858	2733	49	crowdfunding	crowdfunding	NOUN
cblr-13858	2733	50	investors	investor	NOUN
cblr-13858	2733	51	are	be	AUX
cblr-13858	2733	52	not	not	PART
cblr-13858	2733	53	accredited	accredited	ADJ
cblr-13858	2733	54	investors	investor	NOUN
cblr-13858	2733	55	,	,	PUNCT
cblr-13858	2733	56	the	the	DET
cblr-13858	2733	57	sec	sec	PROPN
cblr-13858	2733	58	is	be	AUX
cblr-13858	2733	59	unlikely	unlikely	ADJ
cblr-13858	2733	60	to	to	PART
cblr-13858	2733	61	include	include	VERB
cblr-13858	2733	62	them	they	PRON
cblr-13858	2733	63	within	within	ADP
cblr-13858	2733	64	the	the	DET
cblr-13858	2733	65	definition	definition	NOUN
cblr-13858	2733	66	of	of	ADP
cblr-13858	2733	67	"	"	PUNCT
cblr-13858	2733	68	qualified	qualified	ADJ
cblr-13858	2733	69	purchaser	purchaser	NOUN
cblr-13858	2733	70	"	"	PUNCT
cblr-13858	2733	71	for	for	ADP
cblr-13858	2733	72	purposes	purpose	NOUN
cblr-13858	2733	73	of	of	ADP
cblr-13858	2733	74	preemption	preemption	NOUN
cblr-13858	2733	75	.	.	PUNCT
cblr-13858	2734	1	viii	viii	PROPN
cblr-13858	2734	2	.	.	PUNCT
cblr-13858	2735	1	conclusion	conclusion	NOUN
cblr-13858	2735	2	the	the	DET
cblr-13858	2735	3	sec	sec	PROPN
cblr-13858	2735	4	should	should	AUX
cblr-13858	2735	5	adopt	adopt	VERB
cblr-13858	2735	6	an	an	DET
cblr-13858	2735	7	exemption	exemption	NOUN
cblr-13858	2735	8	to	to	PART
cblr-13858	2735	9	facilitate	facilitate	VERB
cblr-13858	2735	10	crowdfunded	crowdfunde	VERB
cblr-13858	2735	11	securities	security	NOUN
cblr-13858	2735	12	offerings	offering	NOUN
cblr-13858	2735	13	.	.	PUNCT
cblr-13858	2736	1	that	that	DET
cblr-13858	2736	2	exemption	exemption	NOUN
cblr-13858	2736	3	should	should	AUX
cblr-13858	2736	4	include	include	VERB
cblr-13858	2736	5	the	the	DET
cblr-13858	2736	6	basic	basic	ADJ
cblr-13858	2736	7	features	feature	NOUN
cblr-13858	2736	8	outlined	outline	VERB
cblr-13858	2736	9	above	above	ADV
cblr-13858	2736	10	.	.	PUNCT
cblr-13858	2737	1	issuers	issuer	NOUN
cblr-13858	2737	2	should	should	AUX
cblr-13858	2737	3	be	be	AUX
cblr-13858	2737	4	able	able	ADJ
cblr-13858	2737	5	to	to	PART
cblr-13858	2737	6	raise	raise	VERB
cblr-13858	2737	7	a	a	DET
cblr-13858	2737	8	maximum	maximum	NOUN
cblr-13858	2737	9	of	of	ADP
cblr-13858	2737	10	$	$	SYM
cblr-13858	2737	11	250,000-$500,000	250,000-$500,000	NUM
cblr-13858	2737	12	each	each	DET
cblr-13858	2737	13	year	year	NOUN
cblr-13858	2737	14	without	without	ADP
cblr-13858	2737	15	registration	registration	NOUN
cblr-13858	2737	16	or	or	CCONJ
cblr-13858	2737	17	other	other	ADJ
cblr-13858	2737	18	information	information	NOUN
cblr-13858	2737	19	requirements	requirement	NOUN
cblr-13858	2737	20	,	,	PUNCT
cblr-13858	2737	21	provided	provide	VERB
cblr-13858	2737	22	that	that	SCONJ
cblr-13858	2737	23	each	each	DET
cblr-13858	2737	24	investor	investor	NOUN
cblr-13858	2737	25	invests	invest	VERB
cblr-13858	2737	26	annually	annually	ADV
cblr-13858	2737	27	no	no	ADV
cblr-13858	2737	28	more	more	ADJ
cblr-13858	2737	29	than	than	ADP
cblr-13858	2737	30	either	either	CCONJ
cblr-13858	2737	31	$	$	SYM
cblr-13858	2737	32	500	500	NUM
cblr-13858	2737	33	or	or	CCONJ
cblr-13858	2737	34	2	2	NUM
cblr-13858	2737	35	%	%	NOUN
cblr-13858	2737	36	of	of	ADP
cblr-13858	2737	37	the	the	DET
cblr-13858	2737	38	investor	investor	NOUN
cblr-13858	2737	39	's	's	PART
cblr-13858	2737	40	annual	annual	ADJ
cblr-13858	2737	41	income	income	NOUN
cblr-13858	2737	42	,	,	PUNCT
cblr-13858	2737	43	whichever	whichever	PRON
cblr-13858	2737	44	is	be	AUX
cblr-13858	2737	45	greater	great	ADJ
cblr-13858	2737	46	.	.	PUNCT
cblr-13858	2738	1	those	those	DET
cblr-13858	2738	2	crowdfunded	crowdfunde	VERB
cblr-13858	2738	3	offerings	offering	NOUN
cblr-13858	2738	4	should	should	AUX
cblr-13858	2738	5	include	include	VERB
cblr-13858	2738	6	a	a	DET
cblr-13858	2738	7	funding	funding	NOUN
cblr-13858	2738	8	goal	goal	NOUN
cblr-13858	2738	9	and	and	CCONJ
cblr-13858	2738	10	should	should	AUX
cblr-13858	2738	11	not	not	PART
cblr-13858	2738	12	close	close	VERB
cblr-13858	2738	13	until	until	SCONJ
cblr-13858	2738	14	that	that	DET
cblr-13858	2738	15	goal	goal	NOUN
cblr-13858	2738	16	is	be	AUX
cblr-13858	2738	17	met	meet	VERB
cblr-13858	2738	18	.	.	PUNCT
cblr-13858	2739	1	until	until	ADP
cblr-13858	2739	2	then	then	ADV
cblr-13858	2739	3	,	,	PUNCT
cblr-13858	2739	4	investors	investor	NOUN
cblr-13858	2739	5	should	should	AUX
cblr-13858	2739	6	be	be	AUX
cblr-13858	2739	7	free	free	ADJ
cblr-13858	2739	8	to	to	PART
cblr-13858	2739	9	withdraw	withdraw	VERB
cblr-13858	2739	10	from	from	ADP
cblr-13858	2739	11	the	the	DET
cblr-13858	2739	12	offering	offering	NOUN
cblr-13858	2739	13	.	.	PUNCT
cblr-13858	2740	1	the	the	DET
cblr-13858	2740	2	exemption	exemption	NOUN
cblr-13858	2740	3	should	should	AUX
cblr-13858	2740	4	also	also	ADV
cblr-13858	2740	5	require	require	VERB
cblr-13858	2740	6	that	that	SCONJ
cblr-13858	2740	7	the	the	DET
cblr-13858	2740	8	offering	offering	NOUN
cblr-13858	2740	9	be	be	AUX
cblr-13858	2740	10	made	make	VERB
cblr-13858	2740	11	on	on	ADP
cblr-13858	2740	12	a	a	DET
cblr-13858	2740	13	crowdfunding	crowdfunding	NOUN
cblr-13858	2740	14	site	site	NOUN
cblr-13858	2741	1	that	that	PRON
cblr-13858	2741	2	:	:	PUNCT
cblr-13858	2741	3	720	720	NUM
cblr-13858	2741	4	h.r	h.r	PROPN
cblr-13858	2741	5	.	.	PROPN
cblr-13858	2741	6	rep	rep	PROPN
cblr-13858	2741	7	.	.	PROPN
cblr-13858	2741	8	no	no	PROPN
cblr-13858	2741	9	.	.	PUNCT
cblr-13858	2741	10	622	622	NUM
cblr-13858	2741	11	-	-	SYM
cblr-13858	2741	12	104	104	NUM
cblr-13858	2741	13	,	,	PUNCT
cblr-13858	2741	14	pt	pt	X
cblr-13858	2741	15	.	.	PROPN
cblr-13858	2741	16	1	1	NUM
cblr-13858	2741	17	,	,	PUNCT
cblr-13858	2741	18	at	at	ADP
cblr-13858	2741	19	31	31	NUM
cblr-13858	2741	20	(	(	PUNCT
cblr-13858	2741	21	1996	1996	NUM
cblr-13858	2741	22	)	)	PUNCT
cblr-13858	2741	23	.	.	PUNCT
cblr-13858	2742	1	see	see	VERB
cblr-13858	2742	2	also	also	ADV
cblr-13858	2742	3	s.	s.	PROPN
cblr-13858	2742	4	rep	rep	PROPN
cblr-13858	2742	5	.	.	PROPN
cblr-13858	2742	6	no	no	PROPN
cblr-13858	2742	7	.	.	PUNCT
cblr-13858	2743	1	293104	293104	NUM
cblr-13858	2743	2	,	,	PUNCT
cblr-13858	2743	3	at	at	ADP
cblr-13858	2743	4	10	10	NUM
cblr-13858	2743	5	(	(	PUNCT
cblr-13858	2743	6	1996	1996	NUM
cblr-13858	2743	7	)	)	PUNCT
cblr-13858	2743	8	.	.	PUNCT
cblr-13858	2744	1	721	721	NUM
cblr-13858	2744	2	campbell	campbell	PROPN
cblr-13858	2744	3	,	,	PUNCT
cblr-13858	2744	4	blue	blue	ADJ
cblr-13858	2744	5	sky	sky	NOUN
cblr-13858	2744	6	laws	law	NOUN
cblr-13858	2744	7	,	,	PUNCT
cblr-13858	2744	8	supra	supra	PROPN
cblr-13858	2744	9	note	note	NOUN
cblr-13858	2744	10	711	711	NUM
cblr-13858	2744	11	,	,	PUNCT
cblr-13858	2744	12	at	at	ADP
cblr-13858	2744	13	207	207	NUM
cblr-13858	2744	14	-	-	SYM
cblr-13858	2744	15	08	08	NUM
cblr-13858	2744	16	.	.	PUNCT
cblr-13858	2745	1	campbell	campbell	PROPN
cblr-13858	2745	2	notes	note	VERB
cblr-13858	2745	3	that	that	SCONJ
cblr-13858	2745	4	the	the	DET
cblr-13858	2745	5	statute	statute	NOUN
cblr-13858	2745	6	itself	itself	PRON
cblr-13858	2745	7	contains	contain	VERB
cblr-13858	2745	8	no	no	DET
cblr-13858	2745	9	such	such	ADJ
cblr-13858	2745	10	restriction	restriction	NOUN
cblr-13858	2745	11	and	and	CCONJ
cblr-13858	2745	12	states	state	NOUN
cblr-13858	2745	13	that	that	SCONJ
cblr-13858	2745	14	the	the	DET
cblr-13858	2745	15	legislative	legislative	ADJ
cblr-13858	2745	16	history	history	NOUN
cblr-13858	2745	17	is	be	AUX
cblr-13858	2745	18	"	"	PUNCT
cblr-13858	2745	19	so	so	ADV
cblr-13858	2745	20	disjointed	disjointed	ADJ
cblr-13858	2745	21	and	and	CCONJ
cblr-13858	2745	22	confusing	confusing	ADJ
cblr-13858	2745	23	as	as	SCONJ
cblr-13858	2745	24	to	to	PART
cblr-13858	2745	25	be	be	AUX
cblr-13858	2745	26	essentially	essentially	ADV
cblr-13858	2745	27	worthless	worthless	ADJ
cblr-13858	2745	28	.	.	PUNCT
cblr-13858	2745	29	"	"	PUNCT
cblr-13858	2746	1	i	i	PRON
cblr-13858	2746	2	d.	d.	PROPN
cblr-13858	2746	3	at	at	ADP
cblr-13858	2746	4	208	208	NUM
cblr-13858	2746	5	.	.	PUNCT
cblr-13858	2747	1	section	section	NOUN
cblr-13858	2747	2	18	18	NUM
cblr-13858	2747	3	requires	require	VERB
cblr-13858	2747	4	the	the	DET
cblr-13858	2747	5	sec	sec	PROPN
cblr-13858	2747	6	to	to	PART
cblr-13858	2747	7	define	define	VERB
cblr-13858	2747	8	the	the	DET
cblr-13858	2747	9	term	term	NOUN
cblr-13858	2747	10	"	"	PUNCT
cblr-13858	2747	11	consistent	consistent	ADJ
cblr-13858	2747	12	with	with	ADP
cblr-13858	2747	13	the	the	DET
cblr-13858	2747	14	public	public	ADJ
cblr-13858	2747	15	interest	interest	NOUN
cblr-13858	2747	16	.	.	PUNCT
cblr-13858	2747	17	"	"	PUNCT
cblr-13858	2748	1	securities	security	NOUN
cblr-13858	2748	2	act	act	NOUN
cblr-13858	2748	3	of	of	ADP
cblr-13858	2748	4	1933	1933	NUM
cblr-13858	2748	5	§	§	PROPN
cblr-13858	2748	6	18(b)(3	18(b)(3	NUM
cblr-13858	2748	7	)	)	PUNCT
cblr-13858	2748	8	,	,	PUNCT
cblr-13858	2748	9	15	15	NUM
cblr-13858	2748	10	u.s.c	u.s.c	ADJ
cblr-13858	2748	11	.	.	PUNCT
cblr-13858	2749	1	§	§	PROPN
cblr-13858	2749	2	77r(b)(3	77r(b)(3	PROPN
cblr-13858	2749	3	)	)	PUNCT
cblr-13858	2749	4	(	(	PUNCT
cblr-13858	2749	5	2010	2010	NUM
cblr-13858	2749	6	)	)	PUNCT
cblr-13858	2749	7	.	.	PUNCT
cblr-13858	2750	1	campbell	campbell	PROPN
cblr-13858	2750	2	also	also	ADV
cblr-13858	2750	3	points	point	VERB
cblr-13858	2750	4	out	out	ADP
cblr-13858	2750	5	that	that	SCONJ
cblr-13858	2750	6	,	,	PUNCT
cblr-13858	2750	7	in	in	ADP
cblr-13858	2750	8	considering	consider	VERB
cblr-13858	2750	9	what	what	PRON
cblr-13858	2750	10	is	be	AUX
cblr-13858	2750	11	in	in	ADP
cblr-13858	2750	12	"	"	PUNCT
cblr-13858	2750	13	the	the	DET
cblr-13858	2750	14	public	public	ADJ
cblr-13858	2750	15	interest	interest	NOUN
cblr-13858	2750	16	,	,	PUNCT
cblr-13858	2750	17	"	"	PUNCT
cblr-13858	2750	18	the	the	DET
cblr-13858	2750	19	sec	sec	PROPN
cblr-13858	2750	20	must	must	AUX
cblr-13858	2750	21	consider	consider	VERB
cblr-13858	2750	22	not	not	PART
cblr-13858	2750	23	only	only	ADV
cblr-13858	2750	24	investor	investor	NOUN
cblr-13858	2750	25	protection	protection	NOUN
cblr-13858	2750	26	,	,	PUNCT
cblr-13858	2750	27	but	but	CCONJ
cblr-13858	2750	28	also	also	ADV
cblr-13858	2750	29	"	"	PUNCT
cblr-13858	2750	30	whether	whether	SCONJ
cblr-13858	2750	31	the	the	DET
cblr-13858	2750	32	action	action	NOUN
cblr-13858	2750	33	will	will	AUX
cblr-13858	2750	34	promote	promote	VERB
cblr-13858	2750	35	efficiency	efficiency	NOUN
cblr-13858	2750	36	,	,	PUNCT
cblr-13858	2750	37	competition	competition	NOUN
cblr-13858	2750	38	,	,	PUNCT
cblr-13858	2750	39	and	and	CCONJ
cblr-13858	2750	40	capital	capital	NOUN
cblr-13858	2750	41	formation	formation	NOUN
cblr-13858	2750	42	.	.	PUNCT
cblr-13858	2750	43	"	"	PUNCT
cblr-13858	2751	1	campbell	campbell	PROPN
cblr-13858	2751	2	,	,	PUNCT
cblr-13858	2751	3	blue	blue	ADJ
cblr-13858	2751	4	sky	sky	NOUN
cblr-13858	2751	5	laws	law	NOUN
cblr-13858	2751	6	,	,	PUNCT
cblr-13858	2751	7	supra	supra	PROPN
cblr-13858	2751	8	note	note	NOUN
cblr-13858	2751	9	711	711	NUM
cblr-13858	2751	10	,	,	PUNCT
cblr-13858	2751	11	at	at	ADP
cblr-13858	2751	12	207	207	NUM
cblr-13858	2751	13	.	.	PUNCT
cblr-13858	2752	1	722	722	NUM
cblr-13858	2752	2	see	see	VERB
cblr-13858	2752	3	defining	define	VERB
cblr-13858	2752	4	the	the	DET
cblr-13858	2752	5	term	term	NOUN
cblr-13858	2752	6	"	"	PUNCT
cblr-13858	2752	7	qualified	qualified	ADJ
cblr-13858	2752	8	purchaser	purchaser	NOUN
cblr-13858	2752	9	"	"	PUNCT
cblr-13858	2752	10	under	under	ADP
cblr-13858	2752	11	the	the	DET
cblr-13858	2752	12	securities	security	NOUN
cblr-13858	2752	13	act	act	NOUN
cblr-13858	2752	14	of	of	ADP
cblr-13858	2752	15	1933	1933	NUM
cblr-13858	2752	16	,	,	PUNCT
cblr-13858	2752	17	securities	security	NOUN
cblr-13858	2752	18	act	act	NOUN
cblr-13858	2752	19	release	release	VERB
cblr-13858	2752	20	no	no	NOUN
cblr-13858	2752	21	.	.	NOUN
cblr-13858	2752	22	33	33	NUM
cblr-13858	2752	23	-	-	SYM
cblr-13858	2752	24	8041	8041	NUM
cblr-13858	2752	25	,	,	PUNCT
cblr-13858	2752	26	sec	sec	PROPN
cblr-13858	2752	27	docket	docket	NOUN
cblr-13858	2752	28	s7	s7	PROPN
cblr-13858	2752	29	-	-	PUNCT
cblr-13858	2752	30	23	23	NUM
cblr-13858	2752	31	-	-	SYM
cblr-13858	2752	32	01	01	NUM
cblr-13858	2752	33	(	(	PUNCT
cblr-13858	2752	34	dec	dec	PROPN
cblr-13858	2752	35	.	.	PROPN
cblr-13858	2752	36	19	19	NUM
cblr-13858	2752	37	,	,	PUNCT
cblr-13858	2752	38	2001	2001	NUM
cblr-13858	2752	39	)	)	PUNCT
cblr-13858	2752	40	.	.	PUNCT
cblr-13858	2753	1	no	no	INTJ
cblr-13858	2753	2	.	.	NOUN
cblr-13858	2754	1	1	1	NUM
cblr-13858	2754	2	:	:	SYM
cblr-13858	2754	3	1	1	NUM
cblr-13858	2754	4	]	]	PUNCT
cblr-13858	2754	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2754	6	and	and	CCONJ
cblr-13858	2754	7	securities	securities	PROPN
cblr-13858	2754	8	ia	ia	PROPN
cblr-13858	2754	9	ws	ws	PROPN
cblr-13858	2754	10	149	149	NUM
cblr-13858	2754	11	(	(	PUNCT
cblr-13858	2754	12	1	1	NUM
cblr-13858	2754	13	)	)	PUNCT
cblr-13858	2754	14	notifies	notifie	NOUN
cblr-13858	2754	15	the	the	DET
cblr-13858	2754	16	sec	sec	PROPN
cblr-13858	2754	17	that	that	SCONJ
cblr-13858	2754	18	it	it	PRON
cblr-13858	2754	19	is	be	AUX
cblr-13858	2754	20	facilitating	facilitate	VERB
cblr-13858	2754	21	crowdfunding	crowdfunding	NOUN
cblr-13858	2754	22	offerings	offering	NOUN
cblr-13858	2754	23	under	under	ADP
cblr-13858	2754	24	the	the	DET
cblr-13858	2754	25	exemption	exemption	NOUN
cblr-13858	2754	26	;	;	PUNCT
cblr-13858	2754	27	(	(	PUNCT
cblr-13858	2754	28	2	2	X
cblr-13858	2754	29	)	)	PUNCT
cblr-13858	2754	30	is	be	AUX
cblr-13858	2754	31	open	open	ADJ
cblr-13858	2754	32	to	to	ADP
cblr-13858	2754	33	the	the	DET
cblr-13858	2754	34	general	general	ADJ
cblr-13858	2754	35	public	public	NOUN
cblr-13858	2754	36	;	;	PUNCT
cblr-13858	2754	37	(	(	PUNCT
cblr-13858	2754	38	3	3	X
cblr-13858	2754	39	)	)	PUNCT
cblr-13858	2754	40	provides	provide	VERB
cblr-13858	2754	41	a	a	DET
cblr-13858	2754	42	communication	communication	NOUN
cblr-13858	2754	43	portal	portal	NOUN
cblr-13858	2754	44	that	that	PRON
cblr-13858	2754	45	allows	allow	VERB
cblr-13858	2754	46	investors	investor	NOUN
cblr-13858	2754	47	to	to	PART
cblr-13858	2754	48	communicate	communicate	VERB
cblr-13858	2754	49	about	about	ADP
cblr-13858	2754	50	each	each	DET
cblr-13858	2754	51	offering	offering	NOUN
cblr-13858	2754	52	;	;	PUNCT
cblr-13858	2754	53	(	(	PUNCT
cblr-13858	2754	54	4	4	X
cblr-13858	2754	55	)	)	PUNCT
cblr-13858	2754	56	requires	require	VERB
cblr-13858	2754	57	investors	investor	NOUN
cblr-13858	2754	58	to	to	PART
cblr-13858	2754	59	fulfill	fulfill	VERB
cblr-13858	2754	60	a	a	DET
cblr-13858	2754	61	simple	simple	ADJ
cblr-13858	2754	62	education	education	NOUN
cblr-13858	2754	63	requirement	requirement	NOUN
cblr-13858	2754	64	before	before	ADP
cblr-13858	2754	65	investing	invest	VERB
cblr-13858	2754	66	;	;	PUNCT
cblr-13858	2754	67	(	(	PUNCT
cblr-13858	2754	68	5	5	X
cblr-13858	2754	69	)	)	PUNCT
cblr-13858	2754	70	does	do	AUX
cblr-13858	2754	71	not	not	PART
cblr-13858	2754	72	invest	invest	VERB
cblr-13858	2754	73	,	,	PUNCT
cblr-13858	2754	74	and	and	CCONJ
cblr-13858	2754	75	does	do	AUX
cblr-13858	2754	76	not	not	PART
cblr-13858	2754	77	allow	allow	VERB
cblr-13858	2754	78	its	its	PRON
cblr-13858	2754	79	employees	employee	NOUN
cblr-13858	2754	80	to	to	PART
cblr-13858	2754	81	invest	invest	VERB
cblr-13858	2754	82	,	,	PUNCT
cblr-13858	2754	83	in	in	ADP
cblr-13858	2754	84	the	the	DET
cblr-13858	2754	85	site	site	NOUN
cblr-13858	2754	86	's	's	PART
cblr-13858	2754	87	offerings	offering	NOUN
cblr-13858	2754	88	;	;	PUNCT
cblr-13858	2754	89	and	and	CCONJ
cblr-13858	2754	90	(	(	PUNCT
cblr-13858	2754	91	6	6	X
cblr-13858	2754	92	)	)	PUNCT
cblr-13858	2754	93	does	do	AUX
cblr-13858	2754	94	not	not	PART
cblr-13858	2754	95	offer	offer	VERB
cblr-13858	2754	96	investment	investment	NOUN
cblr-13858	2754	97	advice	advice	NOUN
cblr-13858	2754	98	.	.	PUNCT
cblr-13858	2755	1	the	the	DET
cblr-13858	2755	2	enactment	enactment	NOUN
cblr-13858	2755	3	of	of	ADP
cblr-13858	2755	4	a	a	DET
cblr-13858	2755	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2755	6	exemption	exemption	NOUN
cblr-13858	2755	7	would	would	AUX
cblr-13858	2755	8	be	be	AUX
cblr-13858	2755	9	no	no	DET
cblr-13858	2755	10	panacea	panacea	NOUN
cblr-13858	2755	11	.	.	PUNCT
cblr-13858	2756	1	none	none	NOUN
cblr-13858	2756	2	of	of	ADP
cblr-13858	2756	3	the	the	DET
cblr-13858	2756	4	requirements	requirement	NOUN
cblr-13858	2756	5	that	that	SCONJ
cblr-13858	2756	6	this	this	DET
cblr-13858	2756	7	article	article	NOUN
cblr-13858	2756	8	proposes	propose	VERB
cblr-13858	2756	9	will	will	AUX
cblr-13858	2756	10	guarantee	guarantee	VERB
cblr-13858	2756	11	that	that	SCONJ
cblr-13858	2756	12	investors	investor	NOUN
cblr-13858	2756	13	receive	receive	VERB
cblr-13858	2756	14	their	their	PRON
cblr-13858	2756	15	expected	expect	VERB
cblr-13858	2756	16	returns	return	NOUN
cblr-13858	2756	17	.	.	PUNCT
cblr-13858	2757	1	none	none	NOUN
cblr-13858	2757	2	of	of	ADP
cblr-13858	2757	3	these	these	DET
cblr-13858	2757	4	requirements	requirement	NOUN
cblr-13858	2757	5	will	will	AUX
cblr-13858	2757	6	protect	protect	VERB
cblr-13858	2757	7	investors	investor	NOUN
cblr-13858	2757	8	from	from	ADP
cblr-13858	2757	9	the	the	DET
cblr-13858	2757	10	losses	loss	NOUN
cblr-13858	2757	11	often	often	ADV
cblr-13858	2757	12	incurred	incur	VERB
cblr-13858	2757	13	by	by	ADP
cblr-13858	2757	14	investors	investor	NOUN
cblr-13858	2757	15	in	in	ADP
cblr-13858	2757	16	small	small	ADJ
cblr-13858	2757	17	businesses	business	NOUN
cblr-13858	2757	18	.	.	PUNCT
cblr-13858	2758	1	none	none	NOUN
cblr-13858	2758	2	of	of	ADP
cblr-13858	2758	3	these	these	DET
cblr-13858	2758	4	requirements	requirement	NOUN
cblr-13858	2758	5	will	will	AUX
cblr-13858	2758	6	prevent	prevent	VERB
cblr-13858	2758	7	fraud	fraud	NOUN
cblr-13858	2758	8	.	.	PUNCT
cblr-13858	2759	1	that	that	PRON
cblr-13858	2759	2	is	be	AUX
cblr-13858	2759	3	not	not	PART
cblr-13858	2759	4	the	the	DET
cblr-13858	2759	5	point	point	NOUN
cblr-13858	2759	6	of	of	ADP
cblr-13858	2759	7	the	the	DET
cblr-13858	2759	8	proposed	propose	VERB
cblr-13858	2759	9	crowdfunding	crowdfunding	NOUN
cblr-13858	2759	10	exemption	exemption	NOUN
cblr-13858	2759	11	.	.	PUNCT
cblr-13858	2760	1	instead	instead	ADV
cblr-13858	2760	2	,	,	PUNCT
cblr-13858	2760	3	the	the	DET
cblr-13858	2760	4	proposed	propose	VERB
cblr-13858	2760	5	crowdfunding	crowdfunding	NOUN
cblr-13858	2760	6	exemption	exemption	NOUN
cblr-13858	2760	7	is	be	AUX
cblr-13858	2760	8	an	an	DET
cblr-13858	2760	9	attempt	attempt	NOUN
cblr-13858	2760	10	to	to	PART
cblr-13858	2760	11	promote	promote	VERB
cblr-13858	2760	12	small	small	ADJ
cblr-13858	2760	13	business	business	NOUN
cblr-13858	2760	14	capital	capital	NOUN
cblr-13858	2760	15	formation	formation	NOUN
cblr-13858	2760	16	by	by	ADP
cblr-13858	2760	17	exempting	exempt	VERB
cblr-13858	2760	18	offerings	offering	NOUN
cblr-13858	2760	19	where	where	SCONJ
cblr-13858	2760	20	the	the	DET
cblr-13858	2760	21	cost	cost	NOUN
cblr-13858	2760	22	of	of	ADP
cblr-13858	2760	23	registration	registration	NOUN
cblr-13858	2760	24	clearly	clearly	ADV
cblr-13858	2760	25	exceeds	exceed	VERB
cblr-13858	2760	26	any	any	DET
cblr-13858	2760	27	possible	possible	ADJ
cblr-13858	2760	28	benefits	benefit	NOUN
cblr-13858	2760	29	.	.	PUNCT
cblr-13858	2761	1	the	the	DET
cblr-13858	2761	2	proposed	propose	VERB
cblr-13858	2761	3	exemption	exemption	NOUN
cblr-13858	2761	4	allows	allow	VERB
cblr-13858	2761	5	smaller	small	ADJ
cblr-13858	2761	6	,	,	PUNCT
cblr-13858	2761	7	unsophisticated	unsophisticated	ADJ
cblr-13858	2761	8	investors	investor	NOUN
cblr-13858	2761	9	to	to	PART
cblr-13858	2761	10	act	act	VERB
cblr-13858	2761	11	as	as	ADP
cblr-13858	2761	12	capitalists	capitalist	NOUN
cblr-13858	2761	13	and	and	CCONJ
cblr-13858	2761	14	to	to	PART
cblr-13858	2761	15	learn	learn	VERB
cblr-13858	2761	16	by	by	ADP
cblr-13858	2761	17	doing	do	VERB
cblr-13858	2761	18	,	,	PUNCT
cblr-13858	2761	19	while	while	SCONJ
cblr-13858	2761	20	protecting	protect	VERB
cblr-13858	2761	21	those	those	DET
cblr-13858	2761	22	investors	investor	NOUN
cblr-13858	2761	23	from	from	ADP
cblr-13858	2761	24	catastrophic	catastrophic	ADJ
cblr-13858	2761	25	losses	loss	NOUN
cblr-13858	2761	26	they	they	PRON
cblr-13858	2761	27	can	can	AUX
cblr-13858	2761	28	not	not	PART
cblr-13858	2761	29	bear	bear	VERB
cblr-13858	2761	30	.	.	PUNCT
cblr-13858	2762	1	finally	finally	ADV
cblr-13858	2762	2	,	,	PUNCT
cblr-13858	2762	3	the	the	DET
cblr-13858	2762	4	proposed	propose	VERB
cblr-13858	2762	5	exemption	exemption	NOUN
cblr-13858	2762	6	attempts	attempt	VERB
cblr-13858	2762	7	to	to	PART
cblr-13858	2762	8	bring	bring	VERB
cblr-13858	2762	9	securities	security	NOUN
cblr-13858	2762	10	regulation	regulation	NOUN
cblr-13858	2762	11	into	into	ADP
cblr-13858	2762	12	the	the	DET
cblr-13858	2762	13	modern	modern	ADJ
cblr-13858	2762	14	world	world	NOUN
cblr-13858	2762	15	of	of	ADP
cblr-13858	2762	16	social	social	ADJ
cblr-13858	2762	17	networking	networking	NOUN
cblr-13858	2762	18	and	and	CCONJ
cblr-13858	2762	19	the	the	DET
cblr-13858	2762	20	internet	internet	NOUN
cblr-13858	2762	21	-	-	PUNCT
cblr-13858	2762	22	to	to	PART
cblr-13858	2762	23	reconcile	reconcile	VERB
cblr-13858	2762	24	the	the	DET
cblr-13858	2762	25	regulatory	regulatory	ADJ
cblr-13858	2762	26	requirements	requirement	NOUN
cblr-13858	2762	27	of	of	ADP
cblr-13858	2762	28	1933	1933	NUM
cblr-13858	2762	29	with	with	ADP
cblr-13858	2762	30	the	the	DET
cblr-13858	2762	31	realities	reality	NOUN
cblr-13858	2762	32	of	of	ADP
cblr-13858	2762	33	the	the	DET
cblr-13858	2762	34	twenty	twenty	NUM
cblr-13858	2762	35	-	-	PUNCT
cblr-13858	2762	36	first	first	ADJ
cblr-13858	2762	37	century	century	NOUN
cblr-13858	2762	38	.	.	PUNCT
cblr-13858	2763	1	[	[	X
cblr-13858	2763	2	vol	vol	NOUN
cblr-13858	2763	3	.	.	PROPN
cblr-13858	2763	4	20	20	NUM
cblr-13858	2763	5	12150	12150	NUM
cblr-13858	2763	6	col	col	PROPN
cblr-13858	2763	7	umbia	umbia	PROPN
cblr-13858	2763	8	b	b	PROPN
cblr-13858	2764	1	usiness	usiness	PROPN
cblr-13858	2764	2	la	la	PROPN
cblr-13858	2764	3	w	w	PROPN
cblr-13858	2764	4	re	re	PROPN
cblr-13858	2764	5	vie	vie	PROPN
cblr-13858	2764	6	w	w	PROPN