You'd probably need to talk to a lawyer. I know it's at least borderline illegal in the UK due to various investment laws; I think you can only talk to a certain limited number of investors there before you need to go through a registered investment company. No idea about other countries.

Of course in reality the police probably have more important things to worry about unless you run off with all the money.

My answer will depend on your answer to these questions:

Are you offering securities in a legal company? Or are you looking
for anyone who will sign an agreement and give you money?

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The aim of an argument or discussion should not be victory, but progress.
Joseph Joubert, essayist (1754-1824)

we are actually trying to see what route is more beneficial to us. i know i know according to sec you can only solicit accredited investors (net worth $1 mil or $200,000 income) i am curious if the law only applies when an actual business plan or prospectus is given to an investor and then they actually invest. because my understanding of the law is that if someone is not an accredited investor and they invest and then you loose all of their money they have the right to sue you because generally they don't know all of the risks involved and they don't have sound advisors to tell them what the investment is all about (i.e. an attourney)
does that help you kind of understand where i am going with this?

interesting read, I was thinking of advertising to build capital for an unrelated project

You are correct, fj.

If you take out ads in newspapers and certain film magazines and
you actually get people to invest - unaccredited investors - and
for any reason they feel the investment wasn't sound, thay can sue.
And the law is on thier side.

Are you seriously considering approaching investors like this? Do
you honestly think that people answering an ad in newspapers and
certain film magazines are going to come through with the money
you need to make your movie?

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The aim of an argument or discussion should not be victory, but progress.
Joseph Joubert, essayist (1754-1824)

i am finding out more and more that you have to find creative ways of making money for a film. it is not like investors our beating down any filmmakers door to invest money. filmmaking is a non traditional inverstment and i have to think of some non traditional ways of getting money for this project. it might happen that someone is reading the newspaper they see our ad, tell their uncle, who is an accredited investor and they might invest. it is not likely but it could happen.