Internet Stock Sales
With the Internet, promoters of stock have a new way of reaching large numbers of people financially able to afford investments in securities. However, all securities laws apply to the Internet, and they are being enforced. State attorneys general have issued cease and desist orders to promoters not registered in their states.
Under current law, you must be registered in a state in order to sell stock to its residents. If you are not registered in a state, you must turn down any residents from that state who want to buy your stock.