<SEC-DOCUMENT>0001080657-11-000010.txt : 20110824
<SEC-HEADER>0001080657-11-000010.hdr.sgml : 20110824
<ACCEPTANCE-DATETIME>20110824153622
ACCESSION NUMBER:		0001080657-11-000010
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20110824
DATE AS OF CHANGE:		20110824
EFFECTIVENESS DATE:		20110824

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NETREIT, INC.
		CENTRAL INDEX KEY:			0001080657
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				330841255
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-81315
		FILM NUMBER:		111054025

	BUSINESS ADDRESS:	
		STREET 1:		1282 PACIFIC OAKS PLACE
		CITY:			ESCONDIDO
		STATE:			CA
		ZIP:			92029-2900
		BUSINESS PHONE:		760-471-8536

	MAIL ADDRESS:	
		STREET 1:		1282 PACIFIC OAKS PLACE
		CITY:			ESCONDIDO
		STATE:			CA
		ZIP:			92029-2900

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETREIT
		DATE OF NAME CHANGE:	19990225
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001080657</cik>
        <entityName>NETREIT, INC.</entityName>
        <issuerAddress>
            <street1>1282 PACIFIC OAKS PLACE</street1>
            <city>ESCONDIDO</city>
            <stateOrCountry>CA</stateOrCountry>
            <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
            <zipCode>92029-2900</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>760-471-8536</issuerPhoneNumber>
        <jurisdictionOfInc>MARYLAND</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>NETREIT</previousName>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jack</firstName>
                <middleName>Kendrick</middleName>
                <lastName>Heilbron</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Place</street1>
                <city>Escondido</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kenneth</firstName>
                <middleName>Wayne</middleName>
                <lastName>Elsberry</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Place</street1>
                <city>Escondido</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Larry</firstName>
                <middleName>Gene</middleName>
                <lastName>Dubose</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Place</street1>
                <city>Escondido</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Sumner</firstName>
                <middleName>James</middleName>
                <lastName>Rollings</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Place</street1>
                <city>Escondido</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName>Edward</middleName>
                <lastName>Schwartz</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Place</street1>
                <city>Escondido</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Bruce</firstName>
                <middleName>Atwater</middleName>
                <lastName>Staller</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Place</street1>
                <city>Escondido</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>Gene</middleName>
                <lastName>Bruen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Place</street1>
                <city>Escondido</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>Bradford</middleName>
                <lastName>Hanson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Pl</street1>
                <city>Escondidon</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029-2900</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>Henry</middleName>
                <lastName>Allen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1282 Pacific Oaks Place</street1>
                <city>Escondido</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>92029</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>REITS and Finance</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$5,000,001 - $25,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001209191-09-040460</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-10-15</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>20000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Alternative Wealth Strategies, Inc.</associatedBDName>
                <associatedBDCRDNumber>130933</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1040 N. Kings Hwy., Suite 302</street1>
                    <city>Cherry Hill</city>
                    <stateOrCountry>NJ</stateOrCountry>
                    <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                    <zipCode>08034</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Anthony Kulhanek</recipientName>
                <recipientCRDNumber>1977093</recipientCRDNumber>
                <associatedBDName>Bennett Ross, Inc.</associatedBDName>
                <associatedBDCRDNumber>42850</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>200 Crescent Court, Suite 1801</street1>
                    <city>Dallas</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>75201</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Berthel, Fisher &amp; Company Financial Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>13609</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>701 Tama Street</street1>
                    <street2>Bldg. B</street2>
                    <city>Marion</city>
                    <stateOrCountry>IA</stateOrCountry>
                    <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                    <zipCode>52302</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>IA</state>
                    <description>IOWA</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
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                    <description>MISSOURI</description>
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                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>n/a</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Calton &amp; Associates, Inc.</associatedBDName>
                <associatedBDCRDNumber>20999</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>14497 N. Dale Mabry Hwy.</street1>
                    <city>Tampa</city>
                    <stateOrCountry>FL</stateOrCountry>
                    <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                    <zipCode>33618</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
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                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Cape Securities</associatedBDName>
                <associatedBDCRDNumber>7072</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2005 Pennsylvania Avenue</street1>
                    <city>McDonough</city>
                    <stateOrCountry>GA</stateOrCountry>
                    <stateOrCountryDescription>GEORGIA</stateOrCountryDescription>
                    <zipCode>30253</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <description>ALABAMA</description>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>AR</state>
                    <description>ARKANSAS</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>DC</state>
                    <description>DISTRICT OF COLUMBIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
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                    <description>HAWAII</description>
                    <state>ID</state>
                    <description>IDAHO</description>
                    <state>IL</state>
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                    <description>INDIANA</description>
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                    <state>SD</state>
                    <description>SOUTH DAKOTA</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
                    <state>TX</state>
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                    <description>UTAH</description>
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                    <description>WISCONSIN</description>
                    <state>WY</state>
                    <description>WYOMING</description>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Jerry Adams</recipientName>
                <recipientCRDNumber>822763</recipientCRDNumber>
                <associatedBDName>Capital Growth Resources</associatedBDName>
                <associatedBDCRDNumber>7779</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3405 Harvard Ave</street1>
                    <street2>Suite 1100</street2>
                    <city>Dallas</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>92022</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Capwest Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>30002</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3900 S. Wadsworth Blvd., Suite 590</street1>
                    <city>Lakewood</city>
                    <stateOrCountry>CO</stateOrCountry>
                    <stateOrCountryDescription>COLORADO</stateOrCountryDescription>
                    <zipCode>80235</zipCode>
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                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>VA</state>
                    <description>VIRGINIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Centaurus Financial, Inc.</associatedBDName>
                <associatedBDCRDNumber>30833</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>333 City Blvd. West</street1>
                    <street2>Suite 2010</street2>
                    <city>Orange</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92868</zipCode>
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                    <description>CALIFORNIA</description>
                    <state>CO</state>
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                    <description>FLORIDA</description>
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                    <description>MARYLAND</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>NV</state>
                    <description>NEVADA</description>
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                    <description>TENNESSEE</description>
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                    <state>WI</state>
                    <description>WISCONSIN</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Chester Harris</recipientName>
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                <associatedBDName>Chester Harris &amp; Company, Inc.</associatedBDName>
                <associatedBDCRDNumber>7116</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>222 Mamaroneck Avenue</street1>
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                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Melissa Mather</recipientName>
                <recipientCRDNumber>4697533</recipientCRDNumber>
                <associatedBDName>Crown Capital Securities, L.P.</associatedBDName>
                <associatedBDCRDNumber>6312</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>725 Town &amp; Country Road</street1>
                    <street2>Suite 530</street2>
                    <city>Orange</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92868</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>David Harris</recipientName>
                <recipientCRDNumber>500413</recipientCRDNumber>
                <associatedBDName>David Harris &amp; Co., Inc.</associatedBDName>
                <associatedBDCRDNumber>45670</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>222 Mamaroneck Avenue</street1>
                    <city>White Plains</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10605</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Direct Capital Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>29639</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1250 S. Capital of Texas Hwy.</street1>
                    <street2>Bldg. 1, Ste. 410</street2>
                    <city>Austin</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>78746</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Empire Securities Corp.</associatedBDName>
                <associatedBDCRDNumber>2826</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>10 Universal City Plaza, 20th Floor</street1>
                    <city>Universal City</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>91608</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Financial Advisors of America, LLC</associatedBDName>
                <associatedBDCRDNumber>142170</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1930 Palomar Point Way</street1>
                    <street2>Suite 104</street2>
                    <city>Carlsbad</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92008</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <description>ALABAMA</description>
                    <state>AK</state>
                    <description>ALASKA</description>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>DE</state>
                    <description>DELAWARE</description>
                    <state>DC</state>
                    <description>DISTRICT OF COLUMBIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>HI</state>
                    <description>HAWAII</description>
                    <state>ID</state>
                    <description>IDAHO</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>IA</state>
                    <description>IOWA</description>
                    <state>KS</state>
                    <description>KANSAS</description>
                    <state>KY</state>
                    <description>KENTUCKY</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>ME</state>
                    <description>MAINE</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>MS</state>
                    <description>MISSISSIPPI</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>MT</state>
                    <description>MONTANA</description>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                    <state>NV</state>
                    <description>NEVADA</description>
                    <state>NH</state>
                    <description>NEW HAMPSHIRE</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NM</state>
                    <description>NEW MEXICO</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>ND</state>
                    <description>NORTH DAKOTA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>RI</state>
                    <description>RHODE ISLAND</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                    <state>SD</state>
                    <description>SOUTH DAKOTA</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>UT</state>
                    <description>UTAH</description>
                    <state>VT</state>
                    <description>VERMONT</description>
                    <state>VA</state>
                    <description>VIRGINIA</description>
                    <state>WA</state>
                    <description>WASHINGTON</description>
                    <state>WV</state>
                    <description>WEST VIRGINIA</description>
                    <state>WI</state>
                    <description>WISCONSIN</description>
                    <state>WY</state>
                    <description>WYOMING</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Jason LeBlanc</recipientName>
                <recipientCRDNumber>2483128</recipientCRDNumber>
                <associatedBDName>Girard Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>18697</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>9560 Waples Street</street1>
                    <street2>Suite B</street2>
                    <city>San Diego</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92121</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Grant Bettingen, Inc</associatedBDName>
                <associatedBDCRDNumber>16944</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4100 Newport Place, #630</street1>
                    <city>Newport Beach</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92660</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Richard Woollen</recipientName>
                <recipientCRDNumber>1342719</recipientCRDNumber>
                <associatedBDName>Harrison Douglas, Inc.</associatedBDName>
                <associatedBDCRDNumber>16515</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4301 Belknap Road</street1>
                    <city>Charlotte</city>
                    <stateOrCountry>NC</stateOrCountry>
                    <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
                    <zipCode>28211</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
                    <state>VA</state>
                    <description>VIRGINIA</description>
                    <state>WY</state>
                    <description>WYOMING</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>IMS Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>35567</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1500 Citywest Blvd., Suite 500</street1>
                    <city>Houston</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>77042</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>William Lowell</recipientName>
                <recipientCRDNumber>1158722</recipientCRDNumber>
                <associatedBDName>Lowell &amp; Co., Inc.</associatedBDName>
                <associatedBDCRDNumber>24913</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1500 Broadway</street1>
                    <street2>Suite 1208</street2>
                    <city>Lubbock</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>79401</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>MCL Financial Group, Inc.</associatedBDName>
                <associatedBDCRDNumber>41180</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1869 W. Littleton Blvd.</street1>
                    <city>Littleton</city>
                    <stateOrCountry>CO</stateOrCountry>
                    <stateOrCountryDescription>COLORADO</stateOrCountryDescription>
                    <zipCode>80120</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CO</state>
                    <description>COLORADO</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Okoboji Financial Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>33727</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1019 Highway 71 South</street1>
                    <city>Okoboji</city>
                    <stateOrCountry>IA</stateOrCountry>
                    <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                    <zipCode>51355</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>IA</state>
                    <description>IOWA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Omni Brokerage, Inc.</associatedBDName>
                <associatedBDCRDNumber>16878</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>150 W. Civic Center Dr., Suite 103</street1>
                    <city>Sandy</city>
                    <stateOrCountry>UT</stateOrCountry>
                    <stateOrCountryDescription>UTAH</stateOrCountryDescription>
                    <zipCode>84070</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Private Asset Group, Inc.</associatedBDName>
                <associatedBDCRDNumber>142541</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3070 Bristol Street, Suite 500</street1>
                    <city>Costa Mesa</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92626</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Sammons Securities Company, LLC</associatedBDName>
                <associatedBDCRDNumber>115368</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4261 Park Road</street1>
                    <city>Ann Arbor</city>
                    <stateOrCountry>MI</stateOrCountry>
                    <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                    <zipCode>48103</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>KS</state>
                    <description>KANSAS</description>
                    <state>KY</state>
                    <description>KENTUCKY</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Sigma Financial Corporation</associatedBDName>
                <associatedBDCRDNumber>14303</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4261 Park Road</street1>
                    <city>Ann Arbor</city>
                    <stateOrCountry>MI</stateOrCountry>
                    <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                    <zipCode>48103</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Sunset Financial Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>3538</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3520 Broadway</street1>
                    <city>Kansas City</city>
                    <stateOrCountry>MO</stateOrCountry>
                    <stateOrCountryDescription>MISSOURI</stateOrCountryDescription>
                    <zipCode>64111</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MO</state>
                    <description>MISSOURI</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>VSR Financial Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>14503</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>8620 W. 110th Street, Suite 200</street1>
                    <city>Overland Park</city>
                    <stateOrCountry>KS</stateOrCountry>
                    <stateOrCountryDescription>KANSAS</stateOrCountryDescription>
                    <zipCode>66210</zipCode>
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                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Waterford Investor Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>46227</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1201 S. Highland Avenue, Suite 2</street1>
                    <city>Clearwater</city>
                    <stateOrCountry>FL</stateOrCountry>
                    <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                    <zipCode>33756</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Wilbanks Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>40673</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4334 NW Expressway, Suite 222</street1>
                    <city>Oklahoma City</city>
                    <stateOrCountry>OK</stateOrCountry>
                    <stateOrCountryDescription>OKLAHOMA</stateOrCountryDescription>
                    <zipCode>73116</zipCode>
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                <statesOfSolicitationList>
                    <state>AL</state>
                    <description>ALABAMA</description>
                    <state>AK</state>
                    <description>ALASKA</description>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>AR</state>
                    <description>ARKANSAS</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>DE</state>
                    <description>DELAWARE</description>
                    <state>DC</state>
                    <description>DISTRICT OF COLUMBIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>HI</state>
                    <description>HAWAII</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>KS</state>
                    <description>KANSAS</description>
                    <state>KY</state>
                    <description>KENTUCKY</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>ME</state>
                    <description>MAINE</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>MS</state>
                    <description>MISSISSIPPI</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>MT</state>
                    <description>MONTANA</description>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                    <state>NV</state>
                    <description>NEVADA</description>
                    <state>NH</state>
                    <description>NEW HAMPSHIRE</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NM</state>
                    <description>NEW MEXICO</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>RI</state>
                    <description>RHODE ISLAND</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>UT</state>
                    <description>UTAH</description>
                    <state>VT</state>
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                    <state>VA</state>
                    <description>VIRGINIA</description>
                    <state>WA</state>
                    <description>WASHINGTON</description>
                    <state>WV</state>
                    <description>WEST VIRGINIA</description>
                    <state>WI</state>
                    <description>WISCONSIN</description>
                    <state>WY</state>
                    <description>WYOMING</description>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Williams Financial Group Investments, Inc.</associatedBDName>
                <associatedBDCRDNumber>22704</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>12221 Merit Drive, Suite 300</street1>
                    <city>Dallas</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>75251</zipCode>
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                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Workman Securities Corporation</associatedBDName>
                <associatedBDCRDNumber>31898</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>6500 City West Pkwy. #350</street1>
                    <city>Eden Prairie</city>
                    <stateOrCountry>MN</stateOrCountry>
                    <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                    <zipCode>55344</zipCode>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Scott Clampit</recipientName>
                <recipientCRDNumber>1278576</recipientCRDNumber>
                <associatedBDName>American Equity Investment Corp</associatedBDName>
                <associatedBDCRDNumber>40199</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>42222 Grantline Road</street1>
                    <city>New Albany</city>
                    <stateOrCountry>IN</stateOrCountry>
                    <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                    <zipCode>47150</zipCode>
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                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>KY</state>
                    <description>KENTUCKY</description>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Kevin Nevin</recipientName>
                <recipientCRDNumber>2460059</recipientCRDNumber>
                <associatedBDName>Capital Guardian LLC</associatedBDName>
                <associatedBDCRDNumber>137919</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>420 Park St</street1>
                    <city>Belmont</city>
                    <stateOrCountry>NC</stateOrCountry>
                    <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
                    <zipCode>28012</zipCode>
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                    <description>COLORADO</description>
                    <state>ND</state>
                    <description>NORTH DAKOTA</description>
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                    <description>SOUTH DAKOTA</description>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>David Harris</recipientName>
                <recipientCRDNumber>500413</recipientCRDNumber>
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                <associatedBDCRDNumber>7116</associatedBDCRDNumber>
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                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10605</zipCode>
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                    <state>NY</state>
                    <description>NEW YORK</description>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Chester Harris</recipientName>
                <recipientCRDNumber>500745</recipientCRDNumber>
                <associatedBDName>David Harris &amp; Co.</associatedBDName>
                <associatedBDCRDNumber>45670</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>222 Mamaroneck</street1>
                    <city>White Plains</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10605</zipCode>
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                    <state>NY</state>
                    <description>NEW YORK</description>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Taseer Badar</recipientName>
                <recipientCRDNumber>2704754</recipientCRDNumber>
                <associatedBDName>EDI Financial Inc</associatedBDName>
                <associatedBDCRDNumber>15699</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>12221 Merit Drive</street1>
                    <street2>Suite 1020</street2>
                    <city>Dallas</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>75251</zipCode>
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                <statesOfSolicitationList>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Fortune Securities, Inc</associatedBDName>
                <associatedBDCRDNumber>40821</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>388 East Valley Blvd</street1>
                    <street2>Suite 208</street2>
                    <city>Alhambra</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>91801</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Douglas Shaner</recipientName>
                <recipientCRDNumber>1699415</recipientCRDNumber>
                <associatedBDName>Independent Financial Group LLC</associatedBDName>
                <associatedBDCRDNumber>7717</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>24501 Del Prado</street1>
                    <street2>Suite D</street2>
                    <city>Dana Point</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92629</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Zoltan Posa</recipientName>
                <recipientCRDNumber>4277093</recipientCRDNumber>
                <associatedBDName>Independent Financial Group LLC</associatedBDName>
                <associatedBDCRDNumber>7717</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>41-750 Rancho Las Plamas Road</street1>
                    <street2>Bldg G</street2>
                    <city>Rancho Mirage</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92270</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Paul Berkemper</recipientName>
                <recipientCRDNumber>2222925</recipientCRDNumber>
                <associatedBDName>National Planning Corp</associatedBDName>
                <associatedBDCRDNumber>29604</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>10825 Watson Road</street1>
                    <street2>Suite 100</street2>
                    <city>St. Louis</city>
                    <stateOrCountry>MO</stateOrCountry>
                    <stateOrCountryDescription>MISSOURI</stateOrCountryDescription>
                    <zipCode>63127</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MO</state>
                    <description>MISSOURI</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>John Moriarity</recipientName>
                <recipientCRDNumber>2720704</recipientCRDNumber>
                <associatedBDName>National Planning Corp</associatedBDName>
                <associatedBDCRDNumber>29604</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1516 Parkway West</street1>
                    <city>Festus</city>
                    <stateOrCountry>MO</stateOrCountry>
                    <stateOrCountryDescription>MISSOURI</stateOrCountryDescription>
                    <zipCode>63028</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MO</state>
                    <description>MISSOURI</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>n/a</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Newbridge Securities Corp</associatedBDName>
                <associatedBDCRDNumber>104065</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1451 West Cyprus Creek Road</street1>
                    <street2>Suite 204</street2>
                    <city>Ft. Lauderdale</city>
                    <stateOrCountry>FL</stateOrCountry>
                    <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                    <zipCode>33309</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <description>ALABAMA</description>
                    <state>AK</state>
                    <description>ALASKA</description>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>AR</state>
                    <description>ARKANSAS</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>DE</state>
                    <description>DELAWARE</description>
                    <state>DC</state>
                    <description>DISTRICT OF COLUMBIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>HI</state>
                    <description>HAWAII</description>
                    <state>ID</state>
                    <description>IDAHO</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>IA</state>
                    <description>IOWA</description>
                    <state>KS</state>
                    <description>KANSAS</description>
                    <state>KY</state>
                    <description>KENTUCKY</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>MS</state>
                    <description>MISSISSIPPI</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>MT</state>
                    <description>MONTANA</description>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                    <state>NV</state>
                    <description>NEVADA</description>
                    <state>NH</state>
                    <description>NEW HAMPSHIRE</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NM</state>
                    <description>NEW MEXICO</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>ND</state>
                    <description>NORTH DAKOTA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>PR</state>
                    <description>PUERTO RICO</description>
                    <state>RI</state>
                    <description>RHODE ISLAND</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                    <state>SD</state>
                    <description>SOUTH DAKOTA</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>UT</state>
                    <description>UTAH</description>
                    <state>VT</state>
                    <description>VERMONT</description>
                    <state>VA</state>
                    <description>VIRGINIA</description>
                    <state>WA</state>
                    <description>WASHINGTON</description>
                    <state>WV</state>
                    <description>WEST VIRGINIA</description>
                    <state>WI</state>
                    <description>WISCONSIN</description>
                    <state>WY</state>
                    <description>WYOMING</description>
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                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Steven Brodt</recipientName>
                <recipientCRDNumber>1757324</recipientCRDNumber>
                <associatedBDName>Newport Coast Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>16944</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>82-33 Grenfell St.</street1>
                    <city>Kew Gardens</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>11415</zipCode>
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                <statesOfSolicitationList>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Ray Kim</recipientName>
                <recipientCRDNumber>4446196</recipientCRDNumber>
                <associatedBDName>Newport Coast Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>16944</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>20241 SW Birch St.</street1>
                    <street2>Suite 100</street2>
                    <city>Newport Beach</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>92660</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Aaron Heimowitz</recipientName>
                <recipientCRDNumber>241866</recipientCRDNumber>
                <associatedBDName>Newport Coast Seciruties, Inc.</associatedBDName>
                <associatedBDCRDNumber>16944</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>8233 Grenfell St.</street1>
                    <city>Kew Gardens</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>11415</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>James Kent, Jr</recipientName>
                <recipientCRDNumber>2255753</recipientCRDNumber>
                <associatedBDName>Newport Coast Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>16944</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>696 1st Ave., N.</street1>
                    <street2>Suite 200</street2>
                    <city>St. Petersburg</city>
                    <stateOrCountry>FL</stateOrCountry>
                    <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                    <zipCode>33701</zipCode>
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                <statesOfSolicitationList>
                    <state>FL</state>
                    <description>FLORIDA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Scott Barringer</recipientName>
                <recipientCRDNumber>1385168</recipientCRDNumber>
                <associatedBDName>Newport Coast Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>16944</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>6053 S. Quebec St.</street1>
                    <street2>Suite 200</street2>
                    <city>Greenwood Village</city>
                    <stateOrCountry>CO</stateOrCountry>
                    <stateOrCountryDescription>COLORADO</stateOrCountryDescription>
                    <zipCode>80111</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CO</state>
                    <description>COLORADO</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Les Anderson</recipientName>
                <recipientCRDNumber>873403</recipientCRDNumber>
                <associatedBDName>Wilson-Davis &amp; Co., Inc.</associatedBDName>
                <associatedBDCRDNumber>3777</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4866 Viewmont St.</street1>
                    <city>Halladay</city>
                    <stateOrCountry>UT</stateOrCountry>
                    <stateOrCountryDescription>UTAH</stateOrCountryDescription>
                    <zipCode>84117</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>(Wilson) Williams Financial Group</associatedBDName>
                <associatedBDCRDNumber>22704</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>27111 N. Haskell Ave.</street1>
                    <street2>Suite 2900</street2>
                    <city>Dallas</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>75204</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Dell Raymond Hughes</recipientName>
                <recipientCRDNumber>1804123</recipientCRDNumber>
                <associatedBDName>Wilbanks Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>40673</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>121 E. Main St.</street1>
                    <city>Jenks</city>
                    <stateOrCountry>OK</stateOrCountry>
                    <stateOrCountryDescription>OKLAHOMA</stateOrCountryDescription>
                    <zipCode>74037</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>William Brooks</recipientName>
                <recipientCRDNumber>4856808</recipientCRDNumber>
                <associatedBDName>Wilbanks Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>46227</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>121 E. Main St.</street1>
                    <city>Jenks</city>
                    <stateOrCountry>OK</stateOrCountry>
                    <stateOrCountryDescription>OKLAHOMA</stateOrCountryDescription>
                    <zipCode>74037</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>DE</state>
                    <description>DELAWARE</description>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Ivan Norman</recipientName>
                <recipientCRDNumber>349137</recipientCRDNumber>
                <associatedBDName>Regal Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>7279</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1330 Gateway Blvd.</street1>
                    <city>Far Rockaway</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>11691</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Bruce Beetz</recipientName>
                <recipientCRDNumber>1527269</recipientCRDNumber>
                <associatedBDName>Oak Tree Securities</associatedBDName>
                <associatedBDCRDNumber>18126</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>PO Box 1371</street1>
                    <city>Hollister</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>95024</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Fortune Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>40821</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>388 E. Valley Blvd.</street1>
                    <street2>Suite 208</street2>
                    <city>Alhambra</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>91801</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>David Harris</recipientName>
                <recipientCRDNumber>500745</recipientCRDNumber>
                <associatedBDName>Chester Harris &amp; Co.</associatedBDName>
                <associatedBDCRDNumber>7116</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>222 Mamaroneck Ave.</street1>
                    <city>White Plains</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10605</zipCode>
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                <statesOfSolicitationList>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Vernon Lucas Albright</recipientName>
                <recipientCRDNumber>1346110</recipientCRDNumber>
                <associatedBDName>Workman Securities Corp.</associatedBDName>
                <associatedBDCRDNumber>31898</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2310 West Arthur Ave.</street1>
                    <street2>Suite 3</street2>
                    <city>Chicago</city>
                    <stateOrCountry>IL</stateOrCountry>
                    <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                    <zipCode>60645</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Michael Ruff</recipientName>
                <recipientCRDNumber>1988736</recipientCRDNumber>
                <associatedBDName>Sunset Financial Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>3538</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2225 Perryton Pkwy</street1>
                    <city>Pampa</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>79065</zipCode>
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                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>United Equity Securities LLC</associatedBDName>
                <associatedBDCRDNumber>47261</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>10700 Richmond Ave.</street1>
                    <street2>Suite 252</street2>
                    <city>Houston</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>77042</zipCode>
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                <statesOfSolicitationList>
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                    <description>ARIZONA</description>
                    <state>AR</state>
                    <description>ARKANSAS</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>HI</state>
                    <description>HAWAII</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>IA</state>
                    <description>IOWA</description>
                    <state>KS</state>
                    <description>KANSAS</description>
                    <state>KY</state>
                    <description>KENTUCKY</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>MT</state>
                    <description>MONTANA</description>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                    <state>NV</state>
                    <description>NEVADA</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NM</state>
                    <description>NEW MEXICO</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>ND</state>
                    <description>NORTH DAKOTA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>RI</state>
                    <description>RHODE ISLAND</description>
                    <state>SD</state>
                    <description>SOUTH DAKOTA</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>VA</state>
                    <description>VIRGINIA</description>
                    <state>WA</state>
                    <description>WASHINGTON</description>
                    <state>WI</state>
                    <description>WISCONSIN</description>
                    <state>WY</state>
                    <description>WYOMING</description>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>na</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Steven Falk &amp; Assoc., Inc.</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>11280 Granite Ridge Dr.</street1>
                    <street2>Suite 1042</street2>
                    <city>Las Vegas</city>
                    <stateOrCountry>NV</stateOrCountry>
                    <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                    <zipCode>89135</zipCode>
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                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>DC</state>
                    <description>DISTRICT OF COLUMBIA</description>
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                    <description>FLORIDA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>NV</state>
                    <description>NEVADA</description>
                    <state>NH</state>
                    <description>NEW HAMPSHIRE</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>RI</state>
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                <recipientName>Mark Tidwell</recipientName>
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                <recipientName>Sang Shin</recipientName>
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                    <zipCode>60025</zipCode>
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                <statesOfSolicitationList>
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                    <description>ILLINOIS</description>
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                <foreignSolicitation>false</foreignSolicitation>
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                <recipientName>Jeremy Winters</recipientName>
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                </recipientAddress>
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                <recipientName>Jamie Ellis</recipientName>
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                <associatedBDName>Calton &amp; Associates, INc.</associatedBDName>
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                <recipientName>R. William Manning</recipientName>
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                <recipientName>Yi-Chen Yang</recipientName>
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                </statesOfSolicitationList>
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            <recipient>
                <recipientName>David Carpinello</recipientName>
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                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Gregory Anderson</recipientName>
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                </recipientAddress>
                <statesOfSolicitationList>
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                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>James Gingus</recipientName>
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                <statesOfSolicitationList>
                    <state>NM</state>
                    <description>NEW MEXICO</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>200000000</totalOfferingAmount>
            <totalAmountSold>82400000</totalAmountSold>
            <totalRemaining>117600000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>2</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1870</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>16000000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>NETREIT, INC.</issuerName>
                <signatureName>Jack K. Heilbron</signatureName>
                <nameOfSigner>Jack K. Heilbron</nameOfSigner>
                <signatureTitle>Chairman and CEO</signatureTitle>
                <signatureDate>2011-08-24</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
