[RockOut Investors] Kassie, the President of RockOut, Inc

[RockOut Investors] Kassie, the president of RockOut, Inc., intends to line up celebrities in the music industry to invest in her recording company. Kassie has targeted 70 individuals to whom RockOut will make the private offer, although she knows not all of them are millionaires. Kassie is thrilled when her attorney tells her she does not have to register with the SEC and she does not have to waste her time providing financial information, in fact, the SEC does not ever have to be involved because it is a private offering. Kassie's attorney also suggests spreading the word about the securities in an effort to obtain more investors.
-Is Kassie's attorney correct that the SEC does not have to be involved because this is a private placement situation?

A) Yes, under the private placement exemption, issuers do not have to register securities with the SEC.
B) Yes, under the private placement exemption, issuers are permitted, but not required, to notify the SEC of any sales made under the exemption.
C) No, under the private placement exemption, while issuers do not have to register securities with the SEC, issuers must notify the SEC of any sales made under the exemption.
D) No, under the private placement exemption, issuers must register securities with the SEC and notify the SEC of any sales made under the exemption.
E) No, under the private placement exemption, issuers must either register securities with the SEC or notify the SEC of any sales made under the exemption.