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  • David Duccini
    David Duccini answered 10/5/2022

    How are Self Regulatory Organizations like FINRA financially sustained?

    TLDR;  "Fees & Fines"

    FINRA is a purportedly not-for-profit membership based organization but their Revenue and Expenses are not easily discernible, at least not in public sources like CharityNavigator:

    FINRA likely generates the vast majority ... more

  • Jenny Kassan
    Jenny Kassan answered 10/1/2022

    Are founders putting themselves at risk if they reveal their fundraising plans on a public forum like Twitter?

    Yes!  It is amazing how common it is for founders to publicly pitch investments in their companies.  This is not always illegal.  There are some securities exemptions under which this is allowed (e.g. Regulation Crowdfunding (but with some limitations) and Rule 506(c)).  But most... more

  • Brian Belley
    Brian Belley answered 10/1/2022

    What are the type of securities used on the top Reg CF platforms?

    Here is a breakdown from KingsCrowd for the most popular security types for Regulation Crowdfunding (Reg CF) in 2022 so far:

    As the figures show, the most popular security types in Reg CF in 2022 are:

    1. SAFE (Simple Agreement for Future Equity) - $128.8M, 41%

    2. Equity (Common) - $114.7M, 36%

    3. E... more

  • Brian Christie
    Brian Christie answered 7/16/2022

    Are there any helpful crowdfunding events coming soon?

    Glad to learn of your interest in regulated investment crowdfunding (#RIC).

    Yes, there are a few upcoming events in the space ... 

    SuperCrowd22 will include a Who's Who in regulated crowdfunding and will examine the intersection of crowdfunding and impact investing. It is a web-based event bein... more

  • Sara Hanks
    Sara Hanks answered 6/20/2022

    Form C-TR question on timing of filing.

    Answering a question with a question: how would engaging a transfer agent reduce the number of holders of record?

  • Elizabeth Carter
    Elizabeth Carter answered 6/8/2022

    Do you think DAOs could replace the funding portals and investment crowdfunding?

    Yes to funding portals (and probably should) and no to replacing investment crowdfunding. Rather, DAOs will most likely use investment crowdfunding to fund its projects.

  • Devin Thorpe
    Devin Thorpe answered 5/26/2022

    How would you define impact crowdfunding?

    Great question!

    Impact crowdfunding is what is happening at the intersection of investment crowdfunding and impact investing.

    As you know, investment crowdfunding was authorized by the bipartisan 2012 JOBS Act. It was initially implemented in 2016 with a $1 million cap, which was increased to $5 mil... more

  • Devin Thorpe
    Devin Thorpe answered 5/22/2022

    How much does it cost for a company to run a Reg CF or Reg A+ campaign?

    This is a great question!

    You should expect to spend about 10 percent of the money you raise on the costs of the offering, excluding marketing. I'd caution against spending money on marketing but remember it will take a lot of work.

    Some legal and accounting costs will have to be paid before you can... more

  • Devin Thorpe
    Devin Thorpe answered 5/20/2022

    Could blockchain be useful for the real estate industry?

    Yes! Absolutely!

    Many people believe, I say correctly, that one day soon, we'll use blockchain to record title to all manner of physical or tangible objects, from boats and cars to real estate. The immutable, public nature of blockchain would be perfect for this purpose.

    The trick will be for the bl... more

  • Devin Thorpe
    Devin Thorpe answered 5/20/2022

    What inspired your interest in crowdfunding?

    I love crowdfunding because it helps people who traditionally have had trouble accessing capital. Women and BIPOC founders now have a new path to funding. Small businesses that are integral parts of a community, like restaurants, can now raise money from their customers. Our country is richer becaus... more

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