Quote:
you don't seem to understand anything I have said

I am pretty sure I understand perfectly. You have a product that works great. You want to finance a business to manufacture the product. You can either file as a public company and offer stock, or seek "angel" qualified investors who the SEC has recognized, or register with the state to form an LCC and sell limited partnership units to anybody while retaining control by making yourself the general partner. You are incensed that the SEC requires angels to be millionaires.

I understand. I just don't agree with you. Your position is very Libertarian: "Why won't the government let me do what I want." My position is from the consumer protection viewpoint. I happen to think that capitalism is a wonderful thing, but needs government regulation to keep it honest and fair.

You never did answer the question of how much your state charges for LLC registration. I would look it up myself, but I'm not sure what state that would be in.