If you are looking for information about the Securities Exchange Commission (Federal) exemption, then you should perhaps consult Regulation D, Rule 504. This exemption allows you to seek certain investors and investments without the need for the standard SEC filing requirements. The SEC now allows you to file this Form D online at:
Federal Online Filing Information, Form D
California has similar securities exemptions. The most relevant exemption for low budget productions may be found at Corporations Code 25102(f). California requires a notice to be filed and this notice may be filed online.
Click here to file the California 25102(f) notice online