Our Crowdfunding Network Is Growing Part 65

Last night I learned that Title IV will be fully implemented after a 3-year wait for final rules.  If all goes well the final rules should be complete next week and promoters should be able to use them 60 days from next week.  We've been busy studying the new rules and what everyone's best guess about how they'll be constructed.  

Non-accredited investors will be able to invest the lesser of 10% of their net worth or income and it appears that they'll be able to self-certify these values.  Thus promoters can take in from $1 to $99.999k depending on they structure their offering.  It will be interesting to see how the industry reacts to the final rules and who they'll allow to invest.  There are other practical constraints on the number of investors one can take in (500 or so) which is likely to govern what the share prices are set at.  

We're busy forming the requirements for our new site in anticipation of the final rules.  If folks are allowed to self-certify the process should be fairly straightforward.  If, however, there are more requirements to take in non-accredited investors or if reporting requirements are somehow onerous it may kill things altogether.  I guess we'll find out next week whether or not things are workable!

We are all set to put out our 4th crowdfunded deal.  Some things that worked in the testing environment are broken in production.  This points to the fact that we need a pre-production environment for testing on future deals, especially when we have several going at once.  We're working to get all of this out next week and hopefully we can get the money raised in a month or so.  We anticipate using this raise to build out our investor list and test out marketing processes so time is not really a big deal.  We have plenty of time to close on this project.