Fresh Seasonal Fruit Company has assets of less than $10 million and fewer than fifty shareholders.Gourmand Pastries,Inc.,has assets of more than $50 mil-lion and more than five hundred shareholders.The Securities Exchange Act of 1934 applies to

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The Securities Exchange Act of 1934 applies to companies that have assets of more than $10 million and over 500 shareholders. Since Gourmand Pastries has assets over $50 million and more than 500 shareholders, it falls under the purview of the Act. However, since Fresh Seasonal Fruit has assets less than $10 million and fewer than fifty shareholders, it is exempt from the Act.

Fresh Seasonal Fruit Company Has Assets of Less Than $10