Private University a private nonprofit educational institutionlocated in Califor

Private University a private nonprofit educational institutionlocated in California decides to issue Shares in Learningcertificates in a one-time offering to the public. These shareswill be sold for $500 each and entitle the bearer to redeem eachcertificate for two undergraduate or one graduate college credit inany of its schools at any time in the future. The shares may alsobe resold without restriction by the initial purchaser. Theoffering will be made via the Internet.