Regarding SEC regulation D, rule 505, and UN-accredited investors:  I
am aware of the text of all the SEC regulations.  How does the SEC
interpret the requirements for *audited* financial of a start-up that
has very limited assets and no history of operations?  Is a start-up
still required to provide an audited balance sheet?  How substantial
does a company need to be before this is required?  What constitutes
"unreasonable effort or expense" for a company that is trying to raise
several million dollars, but only has a few thousand in assets?