Advantage Eye Care, Inc.; §7; No Action Recommended, 11/14/1996

No action recommended to require registration of the offer and sale of shares of Advantage Eye Care Inc. (“Advantage”), a cooperative for optometrist-shareholders in purchasing, and negotiating discounts for, services and products. The shares would be offered and sold only to a limited number of optometrists licensed in Texas without any public advertisement or general solicitation and without any commission or other remuneration paid to solicit any offerees or purchasers. The transfers and resales of the shares would be restricted under each subscription agreement and a shareholders’ agreement among the shareholders of Advantage. A shareholder would have no expectation of profits or dividends and no anticipation of any appreciation in the value of the shares. The sole benefit to a shareholder would be the opportunity to save money on purchases of services and products through Advantage.