Pre-JOBS Act Crowdfunding – The Intrastate Exemption
Pre‐JOBS Act Crowdfunding – The Intrastate ExemptionMay 16th 1pm to 2pm ESThttps://www.brighttalk.com/webcast/9407/73453Learn how intrastate crowdfunding is on the verge of setting the national crowdfunding precedent, uniting communities and inspiring local economic growth. Moderator: Dara Albright, Founder, NowStreet – Panelists: *Douglas S. Ellenoff, Partner at Ellenoff, Grossman & Schole; * Richard J. Salute, CPA, Consultant with extensive expertise in capital markets and securities regulations; *Jeff Bekiares and Megan Johnson, Co‐Founders of SparkMarket, the nation’s first bona fide crowdfunding portal allowing unaccredited investors to legally crowdfund via intrastate exemption.
Intrastate CrowdfundingPresented by Richard SaluteMay 16, 2013
Why Intrastate Crowdfunding is so significant• Small regulatory appetite on a federal level• Traditional SMEs have been deserted:– Banks aren’t lending– Public markets are no longer viable options
Companies that stand to benefit from Intrastate Crowdfunding• Real Estate• Restaurants• Retail Shops• Mom & Pops
The Importance of Transparency• The team: – Describe the management skills and experience and why they can execute the business plan.– Best practice for achieving transparency requires that you have the correct advisors i.e., Attorney’s, Accountants and Investment Bankers.– Consider forming Boards of Directors and Advisors.
Don’t Mess with the Crowd!Especially when they are your neighbors• On going communications with Stakeholders– Look at best of breed to see examples of transparency.– Discuss key metrics good or bad.– The crowd is efficient be careful not to under estimate its power.– Never forget that you are selling a portion of your business.– Good Luck!