Securities offerings which do not rise to a level requiring registration are "exempted" from the registration and literature filing requirements of the Wyoming Uniform Securities Act. Several exemptions are found in W.S. 17-4-114 which may apply to offers for, but not sales, used to test the waters, the Internet, the sale of private securities, a company's stock through its employee plan, and for Federal Regulation D, Rule 505 offerings. Keep in mind that persons who claim exemptions from registration have the burden of proving the exempt status of their offering.