[Vineyard Development] a Community Group in Montana Wanted to Revitalize

[Vineyard Development] A community group in Montana wanted to revitalize the area and held a meeting urging residents to invest in local businesses. After the meeting, Mai and Trent, who own Valley Vineyard, decide to expand by adding a spa and first-class restaurant to the property to attract tourists. They plan to raise capital for the vineyard development by issuing securities to local investors. All of Valley Vineyard's property and assets are in Montana and their wine sales are about 85% to stores, consumers, or distributors within the state. Once the spa and restaurant are running, they would like to use their profits to open a small wine-bar in Florida.
-Which of the following statements is false about marketing securities on the internet?

A) Companies are permitted to sell securities online in an initial public offering (IPO) .
B) Some websites allow customers to buy and sell securities online.
C) SEC regulations do not apply to online advertising and securities transactions.
D) The SEC has issued cease-and-desist orders against companies that illegally offered free stock on their websites because they had not registered their stocks with the SEC.
E) The SEC maintains a database to help investors access information about IPOs.