PETITION IS DENIED.
with the expectation of profits, (4) to be derived solely from the efforts of
others.
Ciiting SEC v. Glenn W. Turner Enterprises, Inc. et al., the Court therefore
ruled that the business operation or the scheme of Petitioner constitutes an
investment contract that is a security under R.A. No. 8799. Thus, it must be
registered with Public Respondent SEC before its sale or offer for sale or
distribution to the public. As petitioner failed to register the same, its offering
to the public was rightfully enjoined by Public Respondent SEC. The CDO was
proper even without a finding of fraud.
PETITION IS DENIED.