[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 she does not have to register with the SEC?

A) Yes,but only if she has no more than 55 unaccredited investors.
B) Yes,but only if she has no more than 65 unaccredited investors.
C) Yes,the private placement exemption allows firms to issue an unlimited number of securities to an unlimited number of accredited investors.
D) Yes,but only if she has no more than 35 unaccredited investors.
E) Yes,the private placement exemption allows firms to issue an unlimited number of securities to an unlimited number of investors.