Countdown Corporation issued $15,000,000 of new securities to finance expansion in overseas markets. The entire block of securities was sold to Magna Insurance and Pension Group without the filing of a registration statement. Resale of the securities by Magna to the general public:
A) Is unrestricted.
B) Would be unlawful because the original sale to Magna was in violation of the Securities Act of 1933.
C) May be made if a registration statement is first put into effect.
D) Can be made without restriction after one year from the original sale to Magna.