Crowdfunding: Challenges and Opportunities for Indies. David B. Hoppe Gamma Law, San Francisco
|
|
- Violet Thomasine McGee
- 5 years ago
- Views:
Transcription
1 Crowdfunding: Challenges and Opportunities for Indies David B. Hoppe Gamma Law, San Francisco
2 Estimated $5.1 billion to be raised worldwide through crowdfunding in 2013 massolution,
3
4 Kickstarter Successful Projects (Selected) Source:
5 Kickstarter Unsuccessful Project Statistics (Selected) Source:
6 67,266 backers $3,845,170 pledged of $900,000 goal Mighty No. 9, Kickstarter, August-September 2013
7 Introduction Games on Kickstarter 10,371 campaigns. 35.6% success rate. 72% raise $10,000 or less. Source: Kickstarter; statistics through June 12, 2014.
8 Introduction Other Projects on Kickstarter Music 30,106 campaigns. 55.1% success rate. 84.6% raise $10,000 or less. Source: Kickstarter; statistics through June 12, 2014.
9 Introduction Other Projects on Kickstarter Film & Video 36,446 campaigns. 40.3% success rate. 69.7% raise $10,000 or less. Source: Kickstarter; statistics through June 12, 2014.
10 Introduction Reward Crowdfunding vs. Equity Crowdfunding The Banner Saga, Stoic Kickstarter Source:
11 Introduction Reward Crowdfunding Tax implications. No requirement of US entity.* Segregate funds; preferably establish separate company. Basically unregulated. * - (But may not be able to run campaigns on some crowdfunding sites from all countries.)
12 Introduction Equity Crowdfunding Contributors become investors. Stockholders in your company? Or holders of equity interest in particular projects?
13 Equity Crowdfunding in Europe Europe: Rapid Growth of Equity Crowdfunding European securities regulation has traditionally been lighter than the US. But: Fragmented regulatory regimes. Uncertainty about what s permissible. Currently largely limited to national markets.
14 US Regulation of Crowdfunding The CROWDFUND Act: Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act of 2012, signed April 5, 2012
15 US Regulationof Crowdfunding
16 US Regulation of Crowdfunding The New Crowdfunding Exemption For the first time, ordinary Americans will be able to go online and invest in entrepreneurs that they believe in. President Obama, April 2012 signing ceremony. The thing about crowdfunding is that it brings together unsophisticated issuers with unsophisticated investors what could possibly go wrong? Barbara Roper, Consumer Federation of America.
17 US Regulation of Crowdfunding The New US Crowdfunding Exemption Annual dollar limit on sales by companies. Annual dollar limit on purchases by investors. Must be through crowdfunding website registered with SEC. Required disclosure by company. Audited financials required for offerings >$500,000. Limited ongoing reporting. Must be US company.
18 US Regulation of Crowdfunding Size Limitations Annual limit per company: $1 million.* Annual limit per investor: o Annual income or net worth less than $100K: 5% of income / net worth or $2000, whichever greater. o Annual income or net worth $100K or more: 10% of income / net worth, with cap of $100K. Burden on crowdfunding websites to verify. * - 66 Kickstarter campaigns have raised $1 million or more.
19 US Regulation of Crowdfunding Financials Requirement is based on company s total campaign targets for year: If less than $100K, must provide tax returns and financials certified by CEO. If $100K to $500K, audited financials not required; but financials must be reviewed by CPA. If over $500K, financials must be audited. Indiegogo: a massive dealbreaker.
20 US Regulation of Crowdfunding Exception: Private Placements Amount of capital raised in US private markets compared to IPOs: 4x Estimated annual size: $1.2 trillion.
21 US Regulation of Crowdfunding Exception: Private Placements Accredited investors: net worth of $1 million; or income of $200K ($300K with spouse).* Up to 35 non-accredited investors. Annual limit of $5 million; unless any non-accredited investors are sophisticated. Private placement memorandum for non-accredited investors. Audited financials. * - Compare to UK: complete a short survey that assesses whether you fully understand the high-risk nature of investing.
22 US Regulation of Crowdfunding Crowdfunding Portals for Accredited Investors
23 US Regulation of Crowdfunding Crowdfunding Portals for Accredited Investors No: Limits on offering size (in most cases). Limits on per-investor purchases. All-or-nothing campaign requirement. Ongoing reporting requirements. Requirement of US entity. Also, reduced risk of civil/criminal liability.
24 Will the amount of new money generated by equity crowdfunding and accessible to small/medium-sized companies be enough to make all this worthwhile?
The Challenge Balance Competing Interests
Agenda Introduction Some Challenges and Alternatives Applicable Laws (Including the JOBS Act) The Security Commonly Discussed Terms Top 10 (or so) Pitfalls Questions and Answers (But Don t Wait) 1 The
More informationCapital Markets Disruptor:
Featured Insight Capital Markets Disruptor: Real Estate Crowdfunding in the United States By Mark Schonberger, Partner and Daniel Koehler, Associate Real Estate Capital Markets Conference January 27, 2017
More informationEquity Crowdfunding Portals. In a Nutshell. Are you thinking about selling securities through the Internet? Crowdfunding in the United States
Equity Crowdfunding Portals In a Nutshell Are you thinking about selling securities through the Internet? February 2015 This is the first of our nutshell series on regulatory developments affecting crowdfunding
More informationSend in the Crowds? Crowdfunding Under the JOBS Act
Send in the Crowds? Crowdfunding Under the JOBS Act By Carl F. Barnes mbbp.com Send in the Crowds? Crowdfunding Under the JOBS Act By: Carl F. Barnes April 2012 With President Obama s signature on the
More informationCrowdfunding Campaigns: Tax and Legal Issues
ATTORNEY NAME Title, PracticeArea email address Crowdfunding Campaigns: Tax and Legal Issues T. Joshua Wu Partner Clark Hill Strasburger OUTLINE What is crowdfunding? How businesses raise funding Traditional
More informationThe Challenge Balance Competing Interests
Agenda Introduction Applicable Laws (Including the JOBS Act) The Security Commonly Discussed Terms Top 10 (or so) Pitfalls Questions and Answers (But Don t Wait) 1 The Challenge Balance Competing Interests
More informationHow to Raise a Little Money Without Spending a Lot
How to Raise a Little Money Without Spending a Lot Benjamin M. Hron bhron@mccarter.com 617.449.6584 @HronEsq Rick M. Lucash rlucash@mccarter.com 617.449.6568 @RickLucash 3.6.13 Overview Securities Used
More informationCrowdfunding Corporate Finance Goes Viral
Your Authority For: Business Law Commercial Litigation Commercial Real Estate Construction Insolvency & Corporate Restructuring Employment & Labour Wills, Estates & Trusts w w w. p a l l e t t v a l o.
More informationONE YEAR OF EQUITY CROWDFUNDING: INITIAL MARKET DEVELOPMENTS AND TRENDS
March 29, 2018 ALTERNATIVE FINANCE SERIES The Alternative Finance Series focuses on the significance of alternative and emerging finance to small businesses. This series covers topics such as securities
More informationRE: FINRA Regulatory Notice 12-34; Request for Comment on Regulation of Crowdfunding Activities
Marcia E. Asquith Office of Corporate Secretary FINRA 1735 K Street, NW Washington, DC 20006-1508 August 31,2012 RE: FINRA Regulatory Notice 12-34; Request for Comment on Regulation of Crowdfunding Activities
More informationOnline Funding and Investment in the Private Markets. March 16, 2016
Online Funding and Investment in the Private Markets March 16, 2016 Disclaimer This presentation has been prepared by FrontFundr, a registered trade name of Silver Maple Ventures Inc. (SMV), an Exempt
More informationCROWDFUNDING AND THE JOBS ACT IN 2016
CROWDFUNDING AND THE JOBS ACT IN 2016 2 Right now, you can only turn to a limited group of investors -- including banks and wealthy individuals -- to get funding. Laws that are nearly eight decades old
More informationStart-Up Funding: Avoiding the Pitfalls and Positioning the Company
Start-Up Funding: Avoiding the Pitfalls and Positioning the Company Oded Green October 23, 2018 Copyright 2018 by K&L Gates LLP. All rights reserved. Agenda Introduction Some Challenges and Alternatives
More informationJumpstart Our Business. Startups (JOBS) Act. March 30, Morrison & Foerster LLP All Rights Reserved mofo.com
Jumpstart Our Business 2011 Morrison & Foerster LLP All Rights Reserved mofo.com Startups (JOBS) Act March 30, 2012 The JOBS Act Background The Jumpstart Our Business Startups Act, H.R. 3606, was passed
More informationTHE JOBS ACT ENHANCES PRIVATE CAPITAL RAISING ACTIVITIES May 2012
THE JOBS ACT ENHANCES PRIVATE CAPITAL RAISING ACTIVITIES May 2012 On April 5, 2012, Jumpstart Our Business Startup Act of 2012 (the JOBS Act ) was enacted into law. In addition to providing an onramp designed
More informationCROWD FUNDING BILLS STALL IN CONGRESS
CROWD FUNDING BILLS STALL IN CONGRESS By: Christine E. McKillip JANUARY 26, 2012 The growth of social media websites over the last ten (10) years has led many entrepreneurs to seek opportunities to access
More informationGetting Ready for Crowdfunding. A Legal Guide to Understanding Federal Equity Crowdfunding Regulations
Getting Ready for Crowdfunding A Legal Guide to Understanding Federal Equity Crowdfunding Regulations Notice Getting Ready for Crowdfunding: A Legal Guide to Understanding Federal Equity Crowdfunding Regulations
More informationWelcome # real challenges. real answers. sm
Welcome RAISING MONEY IN A NEW ERA ROC, Santa Monica October 10, 2013 Crowdfunding Myth or Magic? Polsinelli PC. In California, Polsinelli LLP Welcome Rob Vickery, BNY Mellon Presenters and Sponsors The
More informationDefining Issues. SEC Permits Crowdfunding and Proposes Rules for Regional Securities Offerings. November 2015, No Key Facts.
Defining Issues November 2015, No. 15-51 SEC Permits Crowdfunding and Proposes Rules for Regional Securities Offerings The SEC adopted final crowdfunding rules that permit start-ups and small companies
More informationCrowdfunding for Importers 1 /14. Buyer s Guide Crowdfunding for Importers
Crowdfunding for Importers 1 /14 Buyer s Guide Crowdfunding for Importers Crowdfunding for Importers 2 /14 Copyright Notice This document and its content is copyright of Asiaimportal (HK) Limited - Asiaimportal
More informationCROWDFUNDING. Anna Pinedo David Lynn. May 16, Morrison & Foerster LLP All Rights Reserved mofo.com
CROWDFUNDING 2011 Morrison & Foerster LLP All Rights Reserved mofo.com Anna Pinedo David Lynn May 16, 2012 The JOBS Act - Background The Jumpstart Our Business Startups Act, H.R. 3606 (the JOBS Act ),
More informationCrowdfunding: Additional capital for your business?
Crowdfunding: Additional capital for your business? Rebecca Perkins Orr & Reno, P.A. Association of Corporate Counsel Small Law Department Committee February 12, 2015 Overview 1. What is crowdfunding?
More informationIntroduction About Me
Introduction About Me Partner with the law firm of Freeborn & Peters LLP in Chicago Specialize in securities, commercial finance, real estate and general corporate law Industry recognized expert in crowdfunding
More informationInvestment Crowdfunding for Wineries. February 17, 2017
Investment Crowdfunding for Wineries February 17, 2017 A Little Bit About Me 2 Zach Robins Email: zrobins@winthrop.com Twitter: zjrobins LinkedIn: https://www.linkedin.com/in/zjrobins Winthrop & Weinstine
More informationSEC ADOPTS LONG-AWAITED CROWDFUNDING RULES [OBER KALER]
SEC ADOPTS LONG-AWAITED CROWDFUNDING RULES Publication SEC ADOPTS LONG-AWAITED CROWDFUNDING RULES [OBER KALER] Author Penny Somer-Greif November 01, 2015 A periodic bulletin keeping small businesses informed
More informationNEW FINANCIAL PRODUCT
NPX is transforming the way the nonprofit sector finances impact. NEW FINANCIAL PRODUCT NPX has developed a powerful new financial product that brings together private donors, impact investors and nonprofit
More informationSprowtt Investor Education
Sprowtt Investor Education Legal Notice Pursuant to SEC Regulation Crowdfunding, Rule 302 (a), you must carefully read and agree to the following provisions before continuing with the electronic account
More informationWelcome to RISE WEEK 2013
Welcome to RISE WEEK 2013 Seed and Angel Financing Strategies Hosted by Matthew Lyons Partner, Andrews Kurth LLP Overview Angel Investor Issues Basic Deal Structures: Loans Equity Other Common Pitfalls
More informationRegulation A+: Capital Raise of the Future? LendIT April 12, 2016 Brian S. Korn
Regulation A+: Capital Raise of the Future? LendIT 2016 April 12, 2016 Brian S. Korn Structure of US Securities Laws!2 Securities Act of 1933 Securities Exchange Act of 1934 Trust Indenture Act of 1939
More informationRaising Money? Great! But Know the Legal Issues Involved
Raising Money? Great! But Know the Legal Issues Involved OUR TEAM 414.978.5440 Debt Bank Loans SBA Loan Program Bonds Convertible Notes (initially) Debt vs Equity Equity Joint Venture Friends & Family
More informationBikeRite Kickstarter Campaign
BikeRite Kickstarter Campaign Background Kickstarter (http://www.kickstarter.com/) is a popular crowdfunding site that was launched in 2009. Kickstarter was originally conceived to help artists raise funds
More informationOverview of the SEC s Long-Awaited Crowdfunding Rules
Overview of the SEC s Long-Awaited Crowdfunding Rules By Penny Somer-Greif, Ober Kaler, and Gregory T. Lawrence, Conti Fenn and Lawrence March 17, 2016 By way of background, pursuant to Section 5 of the
More informationSEC Regulation A+ Better than Crowdfunding Real Public Financing for Growth Companies. John Tishler
SEC Regulation A+ Better than Crowdfunding Real Public Financing for Growth Companies John Tishler Sheppard Mullin Richter & Hampton LLP 2015 Old Regulation A From 1980 until JOBS Act in 2012, limit was
More informationMNVest Security Crowdfunding Presented by Chris Hanson Co-founder & CEO of thedatabank,gbc and past Board President of MetroIBA
The MetroIBA Education Committee welcomes you to the webinar: MNVest Security Crowdfunding Presented by Chris Hanson Co-founder & CEO of thedatabank,gbc and past Board President of MetroIBA April 19, 2015
More informationRegulation Crowdfunding. Presented by Chris Russell Leveraging Crowdfunding to Fuel Your Tech Startup June 20, 2017
Regulation Crowdfunding Presented by Chris Russell Leveraging Crowdfunding to Fuel Your Tech Startup June 20, 2017 REGULATION CROWDFUNDING JOBS Act of 2012 added Section 4(a)(6) of the Securities Act of
More information67 th Annual Program of the WV Tax Institute. Crowdfunding. Harley Duncan. October 24, 2016
67 th Annual Program of the WV Tax Institute Crowdfunding Harley Duncan October 24, 2016 Notice The following information is not intended to be written advice concerning one or more Federal tax matters
More informationCrowdfunding: Considerations for Technology SMEs
Crowdfunding: Considerations for Technology SMEs Richard Heap, Partner, Technology Group 24 September 2013 @ Intellect DEFINITION The practice of funding a project or venture by raising many small amounts
More informationTitle III Crowdfunding: Outline For Portals And Issuers
Newsletter Date Mark Roderick is spearheading Flaster Greenberg's Crowdfunding Practice. He speaks and writes regularly on Crowdfunding. Title III Crowdfunding: Outline For Portals And Issuers This outline
More informationWhile you re waiting, check out some upcoming CDFA events
CDFA BNY Mellon Development Finance Webcast Series: Crowdfunding A Finance Opportunity or Fleeting Trend? The Broadcast will begin at 1:00pm (EDT). While you re waiting, check out some upcoming CDFA events
More informationcrowdability THE GREATEST WEALTH- BUILDING OPPORTUNITY OF OUR GENERATION
crowdability THE GREATEST WEALTH- BUILDING OPPORTUNITY OF OUR GENERATION On May 16, 2016, U.S. House of Representatives Bill H.R. 3606 will go into effect, ushering in one of the greatest wealth-generating
More informationEquity Crowdfunding: Is the process whereby people invest in companies in exchange for shares (equity) in the company.
Crowdfunding Guide Disclaimer: Crowd88 does not provide financial or investment advice. This guide has been prepared as a support document to provide a greater understanding of Crowdfunding. It is recommended
More informationKEY PROVISIONS OF THE PROPOSED CROWDFUNDING PROSPECTUS EXEMPTION
KEY PROVISIONS OF THE PROPOSED CROWDFUNDING PROSPECTUS EXEMPTION The following is a summary of the proposed crowdfunding prospectus exemption. We are soliciting comments on the terms and conditions of
More informationInvestor s Guide for Equity CrowdFunding Under Regulation CrowdFunding (Title III)
Investor s Guide for Equity CrowdFunding Under Regulation CrowdFunding (Title III) DreamFunded Marketplace, LLC. May 2016 Introduction As recent history shows, crowdfunding can be an incredible tool for
More informationIntrastate Crowdfunding
Intrastate Crowdfunding Increasing community investing in Alaska January 10, 2018 Penny Gage Business Development Officer Division of Economic Development Division of Economic Development The Division
More informationRaising Capital for Small & Mid-Size Businesses
Raising Capital for Small & Mid-Size Businesses The Nova Scotia Securities Commission Raising Captial for Small & Mid-Size Businesses Raising Capital for Small & Mid-Size Businesses The Nova Scotia Securities
More informationCrowd Funding A New way to Raise Capital
Crowd Funding A New way to Raise Capital Crowdfund investing, also known as crowdfunding was created by the JOBS Act, which is an acronym for Jumpstart Our Business Startups. The Act was signed into law
More informationBAQUA, INC. OWNERSHIP AND CAPITAL STRUCTURE
BAQUA, INC. OWNERSHIP AND CAPITAL STRUCTURE Capitalization Our authorized capital stock consists of 8,000,000 shares of common stock, par value $0.0001 per share, of which 2,189,855 shares are issued and
More informationSolar Crowdfunding. Crowdfunding is an innovative financing method that allows individuals to fund projects listed through online platforms.
August 2013 Key Messages Crowdfunding is an innovative financing method that allows individuals to fund projects listed through online platforms. Almost anyone can participate in crowdfunding, and minimum
More informationCrowdfunding: Maximizing the Promise and Minimizing the Peril. August A Roundtable Discussion
August 2012 Crowdfunding: Maximizing the Promise and Minimizing the Peril A Roundtable Discussion Bradley D. Belt, Chris Brummer, and Daniel S. Gorfine Crowdfunding: Maximizing the Promise and Minimizing
More informationCANADA. 1 Current market of Crowdfunding platforms in Canada
CANADA 1 Current market of Crowdfunding platforms in Canada Crowdfunding is divided into Non-Equity and Equity Crowdfunding platforms in Canada 1. Non-Equity platforms, as it name implies, do not involves
More informationThe Jumpstart Our Business Startups Act
The Jumpstart Our Business Startups Act Richard B. Levin April 3, 2012 Baker & Hostetler LLP - 2012 Summary Congress recently passed the Jumpstart Our Business Startups Act (the JOBS Act ). The JOBS Act:
More informationCrowdfunding under the JOBS Act. Brian Korn November 27, 2012
Crowdfunding under the JOBS Act Brian Korn November 27, 2012 Crowdfunding background Capital Raising Online While Deterring Fraud and Unethical Non- Disclosure Comprises Title III of the Jumpstart Our
More informationPresented by Chad Williams
Presented by Chad Williams disclaimer The material in this presentation has been prepared by Red Cloud Klondike Strike Inc. ( Red Cloud ) and is general background information current as at the date of
More informationTHE JOBS ACT: DOES THE INCOME CAP REALLY PROTECT INVESTORS?
THE JOBS ACT: DOES THE INCOME CAP REALLY PROTECT INVESTORS? LINA JASINSKAITE I. INTRODUCTION The Jumpstart Our Business Startup Act ( JOBS Act ) allows a forprofit business to access equity based financing
More informationEquity Crowdfunding: Past, Present & Future Canadian Crowdfinance Summit. March 1, 2017 Presented by Ryan Feit
Equity Crowdfunding: Past, Present & Future Canadian Crowdfinance Summit March 1, 2017 Presented by Ryan Feit T H E A G E N D A Section I Section II Quick Introduction The Past Section III The Present
More informationFINAL EQUITY CROWDFUNDING RULES ADOPTED BY THE SEC
November 2015 By Michael Campoli FINAL EQUITY CROWDFUNDING RULES ADOPTED BY THE SEC TO PROMOTE CAPITAL RAISING BY EMERGING COMPANIES On October 30, 2015, the U.S. Securities and Exchange Commission (the
More informationRegulatory Alert November 2013
THE SEC ISSUES PROPOSED CROWDFUNDING RULES Opening investing to the crowd but with many strings attached On October 23, 2013 the United States Securities and Exchange Commission ( SEC ) released its proposed
More informationCLIENT UPDATE JOBS ACT TITLE III CROWDFUNDING MOVES CLOSER TO REALITY
CLIENT UPDATE JOBS ACT TITLE III CROWDFUNDING MOVES CLOSER TO REALITY NEW YORK Peter J. Loughran pjloughran@debevoise.com Paul M. Rodel pmrodel@debevoise.com Lee A. Schneider lschneider@debevoise.com Raj
More informationCROWDFUNDING IN DENMARK
CROWDFUNDING IN DENMARK MAY 2015 TABLE OF CONTENTS 1. Summary... 4 2. Introduction... 9 3. Clarification of underlying concepts... 10 4. The extent of crowdfunding... 13 5. Regulatory framework for crowdfunding
More informationCrowdfunding. Don Minges. A new way to raise financing. SCORE Charlotte - January 27, Copyright 2014, NumbersGuyCFO, LLC All rights reserved.
Crowdfunding A new way to raise financing Don Minges SCORE Charlotte - January 27, 2014 Copyright 2014, NumbersGuyCFO, LLC All rights reserved. 1 Objectives To review how crowdfunding may be an appropriate
More informationCROWD-FUNDING IN BUSINESS VENTURES: RAISING CAPITAL FROM THE PUBLIC
CROWD-FUNDING IN BUSINESS VENTURES: RAISING CAPITAL FROM THE PUBLIC First Run Broadcast: March 18, 2014 1:00 p.m. E.T./12:00 p.m. C.T./11:00 a.m. M.T./10:00 a.m. P.T. (60 minutes) Crowd-funding is an innovation
More informationThe Invest Georgia Exemption
ADVISORY LITIGATION PRIVATE EQUITY CONVERGENT The Invest Georgia Exemption Michael Stegawski michael@convergentcapitalgroup.com 800.750.9861 x101 This memorandum is provided for educational and informational
More informationCDFIs and the U.S. Crowdfunding Act
1 CDFIs and the U.S. Crowdfunding Act New sources of community Development capital created by the Crowdfunding Act Dave Wilkinson City First Enterprises July 19, 2012 Created by: https://www.hightable.com/infographic/42332
More informationRead Before Investing
10/5/2018 INVESTMENT CROWDFUNDING INVESTOR GUIDELINES Read Before Investing FUNDANNA BYTRUCROWD, INC TABLE OF CONTENTS OPENING AN ACCOUNT... 2 Fees... 2 Conditions and Process... 2 Communications... 2
More informationSEC Adopts Regulation Crowdfunding to Facilitate Early Capital Raises
Corporate & Securities/Capital Markets GT Alert November 2015 SEC Adopts Regulation Crowdfunding to Facilitate Early Capital Raises On Oct. 30, 2015, the Securities and Exchange Commission (SEC) adopted
More informationUnited States. Bryan Chegwidden, James Thomas and Sarah Davidoff Ropes & Gray LLP. Country Q&A. Investment Funds Handbook 2011.
United States Bryan Chegwidden, James Thomas and Sarah Davidoff Ropes & Gray LLP www.practicallaw.com/5-501-3486 Retail funds: overview 1. Please give a brief overview of the retail funds market in your
More informationArticle. Crowd funding evolution and management. Pammy Jaiswal Vinod Kothari Consultants Private Limited.
Article Crowd funding evolution and management Pammy Jaiswal Vinod Kothari Consultants Private Limited pammy@vinodkothari.com December 05, 2015 Check at: http://india-financing.com/staffpublications.html
More informationSUMMARY RESPONSES TO THE PUBLIC CONSULTATION ON CROWDFUNDING IN THE EU. EUROPEAN COMMISSION Directorate General Internal Market and Services
EUROPEAN COMMISSION Directorate General Internal Market and Services FINANCIAL MARKETS Securities markets SUMMARY RESPONSES TO THE PUBLIC CONSULTATION ON CROWDFUNDING IN THE EU March 2014 1 The European
More informationUnderstanding Funding Options Beyond the Bank
Understanding Funding Options Beyond the Bank Funding can be a confusing maze for a new small business owner. The Initiative for a Competitive Inner City, ICIC, helps break down financing options that
More informationRead Before Investing
11/1/2017 INVESTMENT CROWDFUNDING INVESTOR GUIDELINES Read Before Investing TRUCROWD, INC CONTENTS OPENING AN ACCOUNT... 2 Fees... 2 Conditions and Process... 2 Communications... 2 SECURITIES OFFERED ON
More informationThe New Risks in Town: Adapting AML for Crowdfunding and other Online Lending Risks
The New Risks in Town: Adapting AML for Crowdfunding and other Online Lending Risks Tuesday April 4 1:30 PM Moderator: Megan Davis Hodge, Executive Compliance Director, BSA/AML Officer, Ally Financial
More informationFunding Outside VCs What Are The Alternatives?
Funding Outside VCs What Are The Alternatives? Jean-Michel Deligny, Managing Director jmd@go4venture.com 2014 Summer Meeting, Barcelona 17 London Paris New York San Francisco 48 Charles Street Berkeley
More informationTHE PENNSYLVANIA STATE UNIVERSITY SCHREYER HONORS COLLEGE DEPARTMENT OF FINANCE. Does Equity Crowdfunding Have Potential in the U.S.?
THE PENNSYLVANIA STATE UNIVERSITY SCHREYER HONORS COLLEGE DEPARTMENT OF FINANCE Does Equity Crowdfunding Have Potential in the U.S.? JAMES BRANDOLINI SPRING 2014 A thesis submitted in partial fulfillment
More informationMARKETING AN EMERGING INVESTMENT FUND
MARKETING AN EMERGING INVESTMENT FUND LEGAL AND BUSINESS CONSIDERATIONS WHEN RAISING CAPITAL Capital Fund Law Group John S. Lore, Esq. Managing Partner There are significant risks involved in marketing
More informationTHE IMPACT OF THE JOBS ACT ON INDEPENDENT FILM FINANCE
From the SelectedWorks of Sahil Chaudry September 24, 2013 THE IMPACT OF THE JOBS ACT ON INDEPENDENT FILM FINANCE Sahil Chaudry Available at: https://works.bepress.com/sahil_chaudry/1/ The Impact of the
More informationLaunch_NY: Q1 What kind of corporat structure works best? LLP S Corp? #LaunchHour 6/17/2015 4:09:11 PM
TwitterChat 6/17/15 Equity & Founders Shares Q1 Launch_NY: Q1 What kind of corporat structure works best? LLP S Corp? #LaunchHour 6/17/2015 4:09:11 PM A1 StartUpGrindBuf: A1 真 id consult a lawyer but llc
More informationWhat Constitutes a Security and Requirements Relating to the Offer and Sales of Securities and Exemptions From Registration Associated Therewith
What Constitutes a Security and Requirements Relating to the Offer and Sales of Securities and Exemptions From Registration Associated Therewith Many people don t realize that every offer and sale of a
More informationREVERSE MERGERS WILL REQUIRE INCREASED DISCLOSURE IN SHORTER PERIOD
REVERSE MERGERS WILL REQUIRE INCREASED DISCLOSURE IN SHORTER PERIOD By Mitchell C. Littman mlittman@lkllp.com Susan G. Curtis scurtis@lkllp.com This article appeared in the New York Law Journal column
More informationEntrepreneurial Trends in the Financial Industry - FinTech
2016 INVESTMENT MANAGEMENT CONFERENCE Entrepreneurial Trends in the Financial Industry - FinTech Sasha Burstein, Partner, San Francisco Edward Dartley, Partner, New York Michael W. McGrath, Partner, Boston
More informationFinTech What is True Financial Innovation?
FinTech What is True Financial Innovation? DR. BRIAN J. ADAMS ASSOCIATE PROFESSOR & ASSOCIATE DEAN PAMPLIN SCHOOL OF BUSINESS UNIVERSITY OF PORTLAND FinTech Financial services (such as payments, lending,
More informationThe Fairshare Model A Performance-Based Capital Structure for Companies Seeking Venture Capital via a CrowdFunded Initial Public Offering (IPO)
The Fairshare Model A Performance-Based Capital Structure for Companies Seeking Venture Capital via a CrowdFunded Initial Public Offering (IPO) The Nuts & Bolts slide deck for experts in capital structures
More informationRegulation of Private Funds and Their Advisers Under the Dodd-Frank Wall Street Reform and Consumer Protection Act
Regulation of Private Funds and Their Advisers Under the Dodd-Frank Wall Street Reform and Consumer Protection Act August 3, 2010 I. INTRODUCTION On July 21, 2010, President Obama signed into law the Dodd-Frank
More informationSecurities Developments Medley Session One
Securities Developments Medley Session One Teleconference Wednesday, February 8, 2017 11:00 AM 12:00 PM EST Presenters: Ze -ev Eiger, Partner, Morrison & Foerster LLP Anna Pinedo, Partner, Morrison & Foerster
More informationCoAssets Ltd (CAX) November 2015
CoAssets Ltd (CAX) November 2015 Southeast Asia s Fastest Growing Crowdfunding Platform Our Brands Disclaimer This presentation has been produced by CoAssets Limited (CoAssets) and may contain forward
More informationCROWD-SOURCED EQUITY FUNDING. For small to medium businesses in conducting capital raises including Crowdfunding. A SMARTER PERSPECTIVE
CROWD-SOURCED EQUITY FUNDING 2018 For small to medium businesses in conducting capital raises including Crowdfunding. A SMARTER PERSPECTIVE Crowd-Sourced Equity Funding 4 I INTRODUCTION Ramsden Lawyers
More informationSECURITIES & PRIVATE EQUITY AND VENTURE CAPITAL
SECURITIES & PRIVATE EQUITY AND VENTURE CAPITAL May 2012 JOBS Act Seeks to Improve Access to Capital for Startup and Other Private Companies On April 5, 2012, President Obama signed the Jumpstart Our Business
More informationAugust 17, David W. Blass Securities and Exchange Commission 100 F Street, NE Washington, D.C
August 17, 2012 David W. Blass Securities and Exchange Commission 100 F Street, NE Washington, D.C. 20549-7010 Marcia E. Asquith Office of the Corporate Secretary FINRA 1735 K Street, NW Washington, DC
More informationCAMAC's Report on Equity Crowdfunding: Does it Pave the Way to Bridge the Capital Gap for Start- Ups and Small Scale Enterprises in Australia?
18 June 2014 Practice Group: Corporate/M&A Capital Markets CAMAC's Report on Equity Crowdfunding: Does it Pave the Way to Bridge the Capital Gap for Start- Ups and Small Scale Enterprises in Australia?
More informationWho
Financing Made Easy Who is @MichaelBowers? Director of the Center for Workforce Development at Columbus State Community College District Center Manager for Ohio SBDC at Columbus State 2002-2013 SBDC State
More informationFiscal year ended December 31, 2017 Earnings Briefing
Fiscal year ended December 31, 2017 Earnings Briefing Loadstar Capital K.K. Securities code: 3482 February 2018 Loadstar Capital ALL RIGHTS RESERVED Table of Contents 1. Overview of Financial Results for
More informationThe FAST Act and Other Recent Developments Affecting the IPO Market
The FAST Act and Other Recent Developments David A. Westenberg Author, Initial Public Offerings: A Practical Guide to Going Public Partner, WilmerHale, Boston On December 4, 2015, President Obama signed
More informationRegulatory Landscape of Private Securities Primary and Secondary Markets in the U.S.
Regulatory Landscape of Private Securities Primary and Secondary Markets in the U.S. Vladimir Ivanov U.S. Securities and Exchange Commission Washington DC Disclaimer The Securities and Exchange Commission,
More informationThe Coming Transformation in Private Capital Markets
The Coming Transformation in Private Capital Markets By David M. Freedman Originally published by Financial Poise, March 1, 2016 The Jumpstart Our Business Startups Act of 2012 spawned several innovations
More informationCrowdfunding 2016: A Guide to the New Rules for Raising Capital
Crowdfunding 2016: A Guide to the New Rules for Raising Capital Benjamin M. Hron Bhron@mccarter.com 617.449.6584 @HronEsq Twitter #mecic Overview of Rules Crowdfunding Exemption Requirements on Issuers
More informationDisclosure Controls. Boris Feldman NIRI San Francisco Chapter October 3,
Disclosure Controls Boris Feldman NIRI San Francisco Chapter October 3, 2002 www.borisfeldman.com Topics Statutory and Regulatory Framework Principles of Design Components Alternative Structures for Disclosure
More informationBACKGROUNDER Abstract The Heritage Foundation
BACKGROUNDER No. 2883 Don t Overregulate Business Brokers David R. Burton Abstract Business brokers make the market for closely held small businesses more efficient, by helping entrepreneurs to sell their
More informationPromoting A New Source Of Liquidity For Small Businesses: An Examination Of U.S. Regulation Of Crowdfunding
North East Journal of Legal Studies Volume 36 Spring/Fall 2017 Article 3 3-20-2017 Promoting A New Source Of Liquidity For Small Businesses: An Examination Of U.S. Regulation Of Crowdfunding Roy J. Girasa
More informationFUNDRAISING MANIFESTO
The Life Science Executive s FUNDRAISING MANIFESTO BEST PRACTICES FOR IDENTIFYING CAPITAL IN THE BIOTECH AND MEDTECH ARENAS Dennis Ford PUBLISHED BY Life Science Nation 9-B Hamilton Place, Boston, MA 02108
More informationThe Impact of the JOBS Act on Independent Film Finance
DePaul Business and Commercial Law Journal Volume 12 Issue 2 Winter 2014 Article 4 The Impact of the JOBS Act on Independent Film Finance Sahil Chaudry Follow this and additional works at: http://via.library.depaul.edu/bclj
More informationMontana State Auditor
Montana State Auditor The Office of Montana State Auditor, Commissioner of Securities and Insurance, is a criminal justice agency. Our primary mission: to protect Montana s consumers through insurance
More information