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The asset in question is a "share" that entitles the bearer to college credits in any school at the future date. A college credit is not a claim to a cash flow, nor it is claim to equity. Therefore, this is not a security. Rather, it is a coupon by which a product can later be acquired. There is no difference between this asset……The home security market offers many plug and play equipment packages that center around an audible alarm to deter intruders who trigger a door or window sensor. They do not offer professional monitoring, so there’s no monthly service contract involved.

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The ever present media, as well as governing body watchdogs, mean that even one toe over the line is quickly fodder for an international scandal that can endanger the entire mission.