I'm not even sure if what I have is considered a security. It is a one page contract entitled "Stock Option Purchase Agreement." It starts out, "Homestead Investments, a Limited Liability Corporation of Utah (hereinafter "Seller"), wishes to sell an option to purchase directly from Seller, Class B common non-voting stock in AirSwitch Corp (now Switchpoint Networks), a Utah Corporation, owned by Seller as of the date of this agreement. Gary Gummow (myself) of Utah (hereinafter "Buyer"), wishes to purchase an option on said AirSwitch Corp. stock currently owned by Seller." I have no certificates or anything else. Paragraph 9 says "This contract is transferrable and can be reassigned with the consent of the parties." I have been told this means I can sell. I'm not sure if I would be selling an options security, or just a contract or what. But I am told that others with the same contract have been able to sell. My only question is what kinds of advertising activities are legal. There is nothing in the contract about that. Paragraph 8 says "Buyer and Seller acknowledge that this option agreement and this written document memorializing the agreement, in no way, shape or form, constitiute a public or private security offering by AirSwitch Corp." The contract is between me and Homestead Investments which owns the actual AirSwitch/Switchpoint stock, but I wonder if this statement also means that the agreement is not a security instrument -???