State v. Eisbach

Sec. 189.07, Stats., provides:

“Subject to section 189.11, the following transactions may be consummated without registration of the security under section 189.13:

“(1) (a) The sale by a domestic corporation of its securities if the aggregate number of holders of all its securities, after the securities to be issued are sold, does not exceed 15, . . .”

Sec. 189.19 (2), Stats., provides:

“Every director, officer, agent, or employee of any issuer and every dealer, agent, or other person shall be punished by imprisonment in the state prison not exceeding five years, or in a county jail not exceeding…