Let's buy Spirit Airlines. Is it a trap?

Let's buy Spirit Airlines. Is it a trap? Listen. 124,000 people just pledged $88,000,000 to buy Spirit Airlines. But is it possible? Let's explore the receipts together. Receipt number one is the federal law called the Howey Test. The moment that someone takes money from the public with the promise of profit, they have created a security according to this law. That means that they must register their company with the SEC or the Security Exchange Commission. And that is why nothing is being sold now, because this boy doesn't want to go to jail. Receipt number two, and this is what personally piqued my interest. On the website, there's a box you can check for accredited investor. What this means is any individual who has a net worth of a million dollars or they earn an annual income of $200,000 or more. Most of America does not qualify. So when a pledge form asks what type of investor are you, it is quietly sorting you into two lanes. The private lane moves fast and includes mostly wealthy people and can raise unlimited capital. But public crowdfunding must be capped at $5,000,000. So if you are not one of the hundreds of thousands of people if this thing is successful that gets in on that $5,000,000 raise, then you have to get in on it in another year. Number three, since no money has been collected, right now this is a mailing list. So make sure that you trust the person who is collecting it. Now can this be done? Yes. It's been done historically by the Green Bay Packers. In 1923, the owners sold shares for as few as $5. So this is what it would take to build a Spirit Airlines 2.0. Real money raised the legal way through Regulation A plus. Professional operators at the top, right, not just passionate founders. This video was helpful, comment Professor Kez.