@maxfaxdude That is correct. Colt manufactured the machine gun in 1985, registered the serial number with the ATF prior to the May 1986 cutoff date, then manufactured the firearm again in 2008 on a new receiver with the same serial number. So what you end up with is a pre-May 1986 fully transferable machine gun on the latest available Colt M4 reinforced mil-spec anodized black finish receiver - not the older grey models without the reinforcements. Not sure if you're familiar with the various versions and the evolution of the M16 receiver, however, this machine gun is built on the latest and greatest Colt receiver. Nothing has changed from this version (A4) all the way up to today. Lots have changed from the A1, A2 and A3...this is the A4 receiver. Hope that helps. This is the diamond in the rough, the unicorn, the leprechaun by the pot of gold, the mythical extremely rare transferable Colt black rifle machine gun - new in the box. If the United States Armed Services, local law enforcement, federal law enforcement, etc. ordered an M16A2A4 Safe/Semi/Auto from Colt today - this is the EXACT same machine gun they would receive. If you're an average Joe and you can legally own a firearm and pass a Form 4473, and have a NFA Trust setup as either an individual or a corporation, then you can own this machine gun! EXTREMELY RARE.