RE:RE:Stan gives us 15 million reasons this belongs bellow .25 I helighlighted some of the important parts by bolding.
Non-Brokered Private Placement
Non-brokered private placement takes on most of the characteristics of a traditional private placement. The only major difference is that in a non-brokered private placement, a company's investor relations department sells the stock (or other security) directly to investors. By doing this, the company can forgo the fees and hassle of hiring a broker (often an investment bank) and maintains more control over the selling process.
Benefits of Non-Brokered Private Placement
In addition to cost savings related to investment banking fees, companies using non-brokered private placement benefit in other ways. While private placements are still subject to the Securities Act of 1933, the company is not required to register the security offering with the SEC. This saves the company the costs associated with filing and allows it to keep detailed financial information private. With a private placement, the company also has the ability to hand-select investors.