Hoo boy! We received our comments from FINRA today. They are very mechanical in nature. The next step is to address their comments, which involves a couple of very slight tweaks to the offering circular, and some of the documentation between FundAmerica and iConsumer. Then, the SEC gets to look at it. Then, if … Continue reading SEC / FINRA Update – August 11, 2016
The SEC turned around our offering quickly. At that point, it became necessary to get FINRA sign off. One of the most fun learning experiences I’ve had recently is understanding what FINRA is. It stands for Financial Industry Regulatory Authority, and basically regulates “broker-dealers”. Those are the folks who help you buy and sell securities … Continue reading SEC / FINRA Update – August 9, 2016
Today we file! Working with our auditors at Wipfli, our technology and escrow provider at FundAmerica, and our SEC counsel Sara Hanks, we’re ready to file what we hope and believe is our final version of the Offering Circular. Once the auditor gives us its final consent, an Edgarized version (basically, a brain-dead HTML version … Continue reading SEC Update – July 8, 2016
It’s time we laid out our fundamental strategy – how we plan to use equity crowdfunding to create a company with over 1,000,000 customers and shareholders. How we plan to create a company to rival eBates, RetailMeNot, ShopAtHome, and a bunch of others. We’re doing it by making our customers, every one of our customers, … Continue reading The Strategy – Ownership is the Ultimate Loyalty Program
It is always gratifying when a much bigger company adopts your strategy. Especially if they’re not a competitor of ours. T-Mobile, the cellular provider, just announced that they will be giving new customers stock in T-Mobile. And they will be giving customers who refer new customers more stock. Sound familiar to iConsumer? We certainly think … Continue reading We’re Not Alone – Stock Up! from T-Mobile
“Any Day Now.” For six weeks, a process that was expected to take one or two days has been dragging along. We are awaiting for approvals outside of our control. Our final filing is ready. Our marketing campaign is ready. Our users are ready. But the powers that be are not. It appears that the … Continue reading SEC Update – June 8, 2016
Perhaps the most eagerly awaited portion of the JOBS Act, Title III, the part of that act that actually has “crowdfunding” in its name, became live in May. The requirements for using it are much less strict than the requirements surrounding Title IV. Most notably, investors are maxed as to the amount they can invest, … Continue reading Equity Crowdfunding – The Next Chapter
Elio Motors used Reg. A+ to go public. They are now listed on the OTC. We’ll be watching to see how they do in the markets. Here’s a story on Elio Motors in INC magazine.
Last Friday, our SEC counsel submitted our updated filing to the SEC. You are welcome to view it on the SEC’s site. It includes several important changes and additions, including the subscription agreement. The most important change, to my mind, is the simplification of the offer into two pieces. For those folks who subscribe early, there … Continue reading SEC Update – March 20, 2016
January was a great month for iConsumer. We had our first real revenue, and first real member growth. About $40,000 in revenue for the month. We added 1690 members. We did our first two promotions. The first was a Double Cash Back event. The second was “Share the Love”, a refer a shopper and get … Continue reading Company Update – Traction!