Equity Crowdfunding: Bridging the Gap in Start-Up Financing by Joseph A. GillMonica Pollard
A presentation to the Raj Manek Mentorship Program which provided an overview of crowdfunding, the current legal landscape for equity crowdfunding in Canada, current issues in crowdfunding, and how to prepare a business for an equity crowdfunding raise. Includes the implications of using equity crowdfunding to raise capital for start-up businesses and entrepreneurial ventures.
In this web conference we will learn about mutual funds as a tool for long-term savings for families.
We will discuss the elements of a fund and costs associated with funds. We will discuss ways in which mutual funds fit into a military families’ financial plan. We will also learn about performance measures and important characteristics of mutual funds highlighted in the prospectus. Finally we will learn about ways in which we can make decisions using fund screeners. We will use several case studies to illustrate.
Equity Crowdfunding: Bridging the Gap in Start-Up Financing by Joseph A. GillMonica Pollard
A presentation to the Raj Manek Mentorship Program which provided an overview of crowdfunding, the current legal landscape for equity crowdfunding in Canada, current issues in crowdfunding, and how to prepare a business for an equity crowdfunding raise. Includes the implications of using equity crowdfunding to raise capital for start-up businesses and entrepreneurial ventures.
In this web conference we will learn about mutual funds as a tool for long-term savings for families.
We will discuss the elements of a fund and costs associated with funds. We will discuss ways in which mutual funds fit into a military families’ financial plan. We will also learn about performance measures and important characteristics of mutual funds highlighted in the prospectus. Finally we will learn about ways in which we can make decisions using fund screeners. We will use several case studies to illustrate.
VanFUNDING 2016: Mechanics of Securities Crowdfunding RegulationsCraig Asano
Senior Legal Counsel, Corporate Finance, BCSC, Elliot Mak, along with Graham Stanley, General Manager, Community Futures Stuart Nechako discuss crowdfunding regulations BC from a regulator's perspective and a practical portal operators perspective.
Regulation of Equity Crowdfunding in CanadaPemo Theodore
Presentation given by Brian Koscak, Partner, Cassels Brock & Blackwell LLP; Co-Chair, Equity Crowdfunding Alliance of Canada; Chair, Private Capital Markets Association of Canada @SV Crowdfunding Conference April 3, 2014
VanFUNDING 2016: Mechanics of Securities Crowdfunding RegulationsCraig Asano
Senior Legal Counsel, Corporate Finance, BCSC, Elliot Mak, along with Graham Stanley, General Manager, Community Futures Stuart Nechako discuss crowdfunding regulations BC from a regulator's perspective and a practical portal operators perspective.
Regulation of Equity Crowdfunding in CanadaPemo Theodore
Presentation given by Brian Koscak, Partner, Cassels Brock & Blackwell LLP; Co-Chair, Equity Crowdfunding Alliance of Canada; Chair, Private Capital Markets Association of Canada @SV Crowdfunding Conference April 3, 2014
This presentation include Introduction, Origin, Indian scenario, Definition, Growth, category ,Prospectus, Function, Quality Problem and Guideline for Merchant Banking.
Start ups challenges for funding optionsAnjana Vivek
How do you choose from this range of investors and more: HNIs, informal and formal Angel groups,Seed Funds,Venture Capital, Private Equity, Banks, Strategic Investors, Corporate Funds; (Family) Business Groups, Indian & Global, Government supported funds, Impact Investors, Incubators, Accelerators, Crowd funding, Online funding platforms
This presentation discuses the following topics:
What is an IPO?
Why do companies go public?
Advantages and Disadvantages of IPO
Overview of IPO processes
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
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how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
2. • Health and Nutrition products
• Gym Services
• Registered as a Pvt. Ltd. Firm
• In operation for 3 years
• Small manufacturing facility worth `1.2
crore and Gym worth `1.8 crore, total
tangible assets around `3 crore.
Oorja Health & Nutrition
Pvt. Ltd
3. Grow
• Huge demand for its products and service
• There is an opportunity for expansion
• Needs capital
– Around ` 6 crore for expanding gym services
– Around ` 4 crore for health product plant
4. • Founders are hardworking middle class
MBA graduates but don’t have enough
money for expanding their company
• Business loan around 22% + 2.5% as
processing charges, way to costly
• Private investors loss of control with major
equity dilution
What can it do?
5. Outline
What is an IPO ?
Why does the company
get listed ?
How does the IPO
happen ?
Pricing of the IPO.
Practical demo from a
retail investor side.
Present scenario.
Grey Market of IPOs.
6. Outline
What is an IPO ?
Why does the company get
listed ?
How does the IPO happen ?
Pricing of the IPO.
Practical demo from a retail
investor side.
Present scenario.
Grey Market of IPOs.
7. An IPO or an initial public offering is the first
sale of ownership units of a company or
shares to general public which can then be
traded on a stock exchange.
What is an IPO ?
8. • The company raises money, this money is
the capital which is not required to be
repaid
• A private company gets converted into a
public company
• It gets listed on the stock exchange
– Shares can be traded on the stock exchange
• Investors are able to buy shares of the
company for the first time
9. Outline
What is an IPO ?
Why does the company get listed ?
How does the IPO happen
?
Pricing of the IPO.
Practical demo from a retail
investor side.
Present scenario.
Grey Market of IPOs.
10. • To raise capital for growth
• Working capital
• Monetize investment of the promoters and
early private investors
• Easier and multiple access to finance
• Diversifying the investor base
• Employee compensation
Why does the company get listed ?
11. Our company finds this as the best possible
solution to raise money with the advantages
listed out earlier
Oorja Health & Nutrition
Pvt. Ltd
12. Outline
What is an IPO ?
Why does the company get
listed ?
How does the IPO happen ?
Pricing of the IPO.
Practical demo from a retail
investor side.
Present scenario.
Grey Market of IPOs.
13. How does the IPO happen ?
1
• Approval of Board of Directors/Initial Procedure
2
• Appointment of Lead Managers/Underwriters
3
• Filing the prospectus with SEBI
4
• Filing the prospectus with the registrar of
Companies
5
• Filing of initial listing application
14. 6 • Promotion of the Issue
7 • Statutory Announcement
8 • Collections of Applications
9 • Processing Applications
10 • Establishing underwriters’ liability
11 • Allotment of shares
15. • Approval by board of directors
Eligibility Criteria
• Registered as a private Ltd company for 3
years
• Regulation 26(1)(a) Net tangible assets of
at least Rs. 3 Crore not more than 50% in
Monetary assets
• Minimum post issue face value
is Rs. 10 crores
1
• Approval of Board of Directors/Initial Procedure
16. • Approved by the founders who are
directors of the company
• Registered as a Pvt. Ltd. Firm
• In operation for 3 years
• Small manufacturing facility worth Rs. 1.2
crore and Gym worth Rs. 1.8 crore, total
tangible assets around Rs. 3 crore.
Oorja Health & Nutrition
Pvt. Ltd
17. • Underwriters: The underwriters which are
the Investment banks take the risks of
distributing the shares i.e. should they not
be able to find investors for the shares
they have to hold the shares.
E.g. Goldman Sachs, Morgan Stanley
Deutsche Bank,
ICICI Securities, SBI capital markets
2
• Appointment of Lead Managers/Underwriters
18. • Underwriters works as a liaison (dealer),
finding buyers for the shares that their
client is offering
• Help in Valuation of the company
• Take the risk on behalf of the company
who wants to gets listed
• Big issues by a consortium of banks
• Fees for underwriting
19. What information do the
underwriters need ?
• Throughout the IPO process the
underwriters
– ask for financial projections
– Historical performance
– Budgeting and forecasting process
– Market share
20. Valuation of the Company
• Discounted Cash Flow Method
• Adjusted Net Asset Value Method
• Multiple Value Method
• Statutory Valuations
21. Discounted Cash Flow Method
Concept of Time Value of Money: It’s the
value of money with a given amount of
interest earned or inflation accrued over a
given amount of time.
23. Time Value of Money
Future
value (5
years)
Present
Value
24. Oorja Health & Nutrition
Pvt. Ltd
The company hires Deutsche Bank as its
underwriter
25. Valuation of Oorja Pvt. Ltd.
After 5 years company will
cumulatively earn
` 90
Crore
It has assets of around ` 10 crore
The rate at which the company
would grow
20%
27. A red herring prospectus is a document
submitted by company as part of the public
offering of ownership units to the Registrar
of Companies and SEBI (Securities and
Exchange Board of India)
3
• Filing the prospectus with SEBI
4
• Filing the prospectus with the registrar of
Companies
28. Red Herring Prospectus
Contents
1. Purpose of issue
2. Disclosure of any option agreement
3. Underwriter’s commissions and discounts
4. Promotion expenses
5. Net proceeds
29. 6. Balance sheet
7. Earnings statements of last 3 years
8. Names and address of all officers,
directors
9. Copy of under writing agreement
10.Legal opinion on the issue
11.Copies of Articles of incorporation
30.
31. • Initial Listing Application with the concerned stock
exchanges with the listing fees
5
• Filing of initial listing application
6 • Promotion of the Issue
7 • Statutory Announcement
• Promotional Campaign and roadshows
• Approval from stock exchanges and disclosures
32. 8 • Collections of Applications
9 • Processing Applications
10 • Establishing underwriters’ liability
11 • Allotment of shares
34. Traditional Book Building
• The lead underwriter of the deal determines a price range of the
offering through frequent contacts with investors as well as their own
valuations
• Then during the road show process, orders for the shares are
taken—investors invited to the road show can state the quantity of
shares they are interested in acquiring, and the price they are willing
to pay per share
• These orders are compiled to “build a book” and eventually used to
determine the final offering price and allocations
36. • Potential investors
specify how many
shares they want and
how much are they
willing to pay per
share
Company discovers the
“Clearing Price” at
which it could
sell all of its 1000
shares.
38. Outline
What is an IPO ?
Why does the company get
listed ?
How does the IPO happen ?
Pricing of the IPO.
Practical information from a retail
investor side
Present scenario.
Grey Market of IPOs.
39. • Retail Individual Investor : means an investor who applies or
bids for securities of value not more than Rs. 2,00,000/-
• Qualified Institutional Buyer(QIB) :
– Public financial institution as defined in section 4A of the
Companies Act, 1956
– Scheduled commercial banks
– Mutual funds/venture funds/insurance companies/provident
funds
– Foreign Institutional Investor(FII) registered with SEBI
• Non qualified Institutional Buyer : an investor who bids for
an amount above Rs. 2,00,000/- but does not fall in the QIB
category e.g. HNI investors.
Type Of Investors
40. Factors to watch as a retail investor
before investing in IPOs
• Get to know the promoters ,their background and experience
• What is the lock-in period of promoter share holding?
• How has been the performance of the company and are the
financials, specially the recent ones, reliable?
• What is the objective of the issue?
• What has been the utilization of existing capacity?
• What are the key risk factors ?
41. How to apply in an IPO ?
• Non ASBA route
• ASBA route
42. Demat account
• Account where securities are stored in electronic form
• Safe and convenient way of holding securities
• Securities can be transferred at an instruction immediately without
any stamp duty to be paid on it
• It results in significant reduction in paperwork, transaction costs and
time spent
• Four major charges usually levied on a Demat account: Account
opening fee, annual maintenance fee, custodian fee and transaction
fee
47. Application supported by blocked
amount (ASBA)
• It is a payment procedure to pay for the
shares you buy through an offering without
paying anything before the allotment of
shares
49. Benefits of ASBA over traditional cheque
route
• No loss of interest
• Enhances the transparency of the share allotment process
• Amount for which no shares have been allotted is available
immediately on completion of allotment process
• No need to wait for the amount to be refunded
• Multiple bidding facility available
• Customer can revise/withdraw the bid
50. If I get an allotment, how much and when
should I sell?
• There is no perfect answer. Exit depends upon your investment
policy. Best is to set a target
• If you treat IPOs as a pure trading opportunity , sell upon listing if
profits are available
• If you are convinced about a company, do not sell in panic if it lists
below the offer price
• If you invest in an IPO not to buy a trading instrument but to own a
part of that business, then hold on
51. Outline
What is an IPO ?
Why does the company get
listed ?
How does the IPO happen
?
Pricing of the IPO.
Practical demo from a retail
investor side.
Present scenario
Grey Market of IPOs.
52. Largest IPO in India And World
Worth Rs. 15000 Crore
Around $22 billion
Or ` 130000 Crores
53. Largest IPOs in 2012-2013
` 950 crore ` 609 crore
` 4500 crore
55. Such Negative Return because
string of IPOs losing money
In Dec 2012
• Bharti Infratel
• PC Jewelers
• Care
• Veto Switch
• Tara Jewels
In October 2011
• Vaswani Industries
• M and B Switch
• Flexituff
• Taksheel
• Onelife Capital