Eldridge Corporation is seeking to offer $7,000,000 of securities under Regulation D of the Securities Act of 1933. Which of the following is(are) true if Eldridge wants an exemption from registration under the Securities Act of 1933?

  1. I. Eldridge must comply with Rule 506 of Regulation D.
  2. II. These securities could be debentures.
  3. III. These securities could be investment contracts.
    1. a. I only.
    2. b. I and II only.
    3. c. II and III only.
    4. d. I, II, and III.