Roxxit Corporation is in the business of providing cloud computing and other network solutions. It is incorporated and headquartered in Ames, Iowa, where all 225 of its employees are resident. It does business in 27 states, as well as Canada and Mexico. Roxxit is a nonpublic company; that is, it is not a company required to file periodic reports with the SEC under the Securities Exchange Act of 1934. Roxxit wants to raise $835,000 of capital by selling its common shares to 53 investors, mostly individuals and businesses in the Ames area, but also some investors in Omaha, Nebraska, and Chicago, Illinois. Is Roxxit eligible to make an offering that is exempt from registration under Rule 504 of the Securities Act of 1933? What must Roxxit do to comply with Rule 504?