I dont think they will overlook fundamental components of a security such as the DAO's right to vote and receive dividends through ICO's such as Bits.Farm.
In contrast to DAO, the BTS token does not receive dividends. If it would, then it would be a security for sure - but it doesn't and hopefully never automatically receive dividends.
If someone wants to throw/drop money at someone, then that's fine, but doesn't make it a security IMHO - would ETH be a security because of the fork of ETC, or Bitcoin because BTC holders have also received BitcoinCash?
Are you handling the matter Xeroc? Or is there somewhere/way I can track what is going on with respect to the legal issues underpinning BTS? I feel as if a third party
that isnt Paul Hastings LLP or yourself, with legal expertise, could aid in pursuing the best outcome.
The BitShares Blockchain Foundation handles this. It reports on a regular basis on bitshares.foundation and on steem.
You are free to get in contact with them, but I would highly advise you introduce yourself properly and underpin your claim that
an established company like PaulHastings isn't a good choice