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ISSUER Views: Crowdfunding, the JOBS Act, and the Future of Innova@on Funding
Mary JueCen, Founder & CEO @maryjueCen @traklight
March 19, 2014 LES: Silicon Valley Chapter
L OVERVIEW
REWARDS BASED: Indiegogo, Kickstarter, Rocket Hub & 1500+ more
EQUITY BASED (non-accredited): Debt or Security OTHER (accredited): Angel List, Lending Club, Prosper, MicroVentures
ISSUER : JOBS Act
1. Registra@on & Incorpora@on in US 2. Names – Directors, Officers, >20% SH 3. Business Descrip@on & BUSINESS PLAN 4. Prior years Tax Returns 5. Financial Statements 6. Use of Proceeds 7. Offering Details & Progress Updates 8. Share price & methodology (VALUATION) 9. Ownership & capital 10. Capital (exis@ng, offering & differences)
SEC RULES: 585 PAGES
SEC: 295 Questions
Equity/Debt Status
Ready, Set, Not Yet!
SEC Rule comment ended Feb 3rd, 2014 Intrastate live in several states
Photo credit – Richard Winchell
RULES – FORM C Disclosure
1. Registra@on & Incorpora@on in US 2. Names – Directors, Officers, >20% SH 3. Business Descrip@on ONLY 4. Prior years Tax Returns 5. Financial Statements ONGOING & ANNUAL
REPORTS 6. Use of Proceeds 7. Offering Details & Progress Updates 8. Share price & methodology (VALUATION) 9. Ownership & capital 10. Capital (exis@ng, offering & differences)
GAAP Financial Statements
< $100K – CEO Ø $100K to < $500K Review Ø $500K = AUDIT by non-PCAOB but licensed Certified Professional Accountant (CPA) Firm Not the same CPA as preparations
Devil in the Details $XM Valuation/ $X per share price/ Total $XK
Use of Proceeds MAKE SELL OPERATE $XK Now $XK $YK $ZK $XK Next $XK $YK $ZK $XK Then $XK $YK $ZK
$
EQUITY CHALLENGES:
Business Plan Financials Attestation Valuation
IDENTIFY IP
PROTECT IP
PICK A PLATFORM
BUILD SOCIAL CAPITAL
CREATE A PITCH
CROWDFUNDING APPROACH
Got Intellectual Property? Why Care…
• IP theft costs $250 billion annually • 100% of all companies have IP • Intangible assets are often more than 75% of company values; startups more than 90%
Disclaimer: This is intended to be general information. Nothing in this presentation constitutes legal advice. Please consult with an attorney before making any intellectual property protection decisions.
IDENTIFY & PROTECT IP
WHY WHO WHAT WHEN WHERE
✔
ONLINE: Campaign Business Plan Projections Videos Music
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CREATE PITCH
Questions?"
Mary [email protected]"@traklight @maryjuetten"
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