That doesn't concern Tech Bureau, because the company does extensive diligence and already provides advice around whether a token sale structure might fall under the jurisdiction of financial regulators.
The sales manager is disciplined, proven and well trained through years of experience in a corporate sale structure.
Multinational companies with national sales structures in the 15-member European Union may be encouraged by today's ruling to refuse to sell to cross-border traders who make a living from the price differentials.
"These individuals have mindshare, but they don't have traditional sales structures," Fishman said.
Both Coda and Zero's direct-sales structures, which hawk the vehicles online rather than through a dealer network, exemplify a continuation of a significant shift in the way Americans buy cars.
The inquiry by the agency follows questions about the company's sales structure.
The result is a pyramid-like sales structure that broadens to include more and more recruits with each descending level.
An analyst at the firm, Shane Dinneen, took the audience through the details, showing charts of the company's sales structure.
Cash raised by the share offer will be used to develop Wolfson's sales structure and enhance its design and test technology.
Mr. Forsee, hired in March to succeed William T. Esrey, who was ousted because of his use of tax shelters, is overhauling the sales structure.
