On Friday, January 26, 2018, we filed an offering statement with the SEC.
Once the SEC has qualified it, which is taking about 4 weeks on average these days, we’ll be able to do two things.
First, we’ll be able to issue shares to shareholders. And second, we’ll be able to sell shares to the general public. Unlike most early stage companies, we’re allowed to sell shares to ordinary people – unaccredited investors. We think the 99% can assess the rewards and risks of iConsumer for themselves.
It’s a long document. Some highlights:
- We’re announcing our intention to build our own blockchain-based token (preliminarily called REWARDScoin).
- You’ll be able to buy our equity using Bitcoin.
- We’re selling our stock for $.15 per share. That means that once our offering is qualified, and somebody unrelated to iConsumer invests at that price, we’ll use $.15 per share as the market value for determining how many shares of stock you receive from shopping. Currently, the price we use is $.09 per share.
- It includes restated financial statements for 2016 and the first half of 2017. Our auditors decided that we should be booking the balance sheet portion of the equity our members earn for shopping and referring people differently. We have been booking it as a liability. Now we’re booking it to the equity section. The result of that is that our accounting ratios look better.
11 Comments
Lashon Alston, February 2, 2018 at 12:56 pm
How do I view my status of personal amount?
Kim Logan, February 2, 2018 at 2:07 pm
You can log in to iConsumer to see the number of shares you have earned. In the ‘eyebrow’ after you log in, you’ll see your Shares balance. If you click on it, you can see a detailed breakdown on the My Stats page.
If any of your shares have already been transferred to Issuer Direct, you’ll need to reach out to them for that balance.
Robert Grosshandler, February 2, 2018 at 2:45 pm
We do show on your MyStats page the number of shares, if any, we’ve transferred to Issuer Direct. What happens to them after that is between you and Issuer Direct.
Marcello Huaranga, February 2, 2018 at 4:16 pm
I am new on here. How do I check my status as a shareholder and how can I get in contact with someone.
Robert Grosshandler, February 2, 2018 at 5:10 pm
Welcome.
You can always get up to the minute information about your iConsumer earnings at https://www.iConsumer.com/html/mystats.cfm
If you have shares that have been transferred to the transfer agent (that won’t have happened if you’re new), you’ll receive information from them via email.
The best place to get actual help and learn specifics about your account is over at http://support.iConsumer.com .
WILLIE GRIGGS, February 2, 2018 at 6:57 pm
This is very exciting news. As a shareholder, I look forward to the company growth. Is there a cap on the amount of shares I can purchase, post IPO?
Kim Logan, February 2, 2018 at 11:06 pm
We’re excited too!
You can purchase as many shares as your budget allows, once our offering is approved!
Robert Grosshandler, February 2, 2018 at 11:28 pm
One of the great things about how iConsumer is doing this is that anybody, not just the 1%, can purchase shares in our offering. Kim is so right, you can purchase as many as your budget allows (up to the limits the SEC imposes on percentage of income or net worth). I have some suggestions on how to set your budget. You should only invest as much as you can afford to lose.
We’re still early stage, and therefore, risky. So, as you think about budgeting, ask yourself … would I be ok if I lost all this money?
That doesn’t mean I think you’re going to lose all your money. But that’s the way I approach investments.
One more thing to consider. Every time you buy something via iConsumer you’re earning stock and Bitcoin, and it didn’t cost you any cash out of your pocket. So, in addition to buying our stock, you’d be helping yourself by buying stuff. And even better, when you buy stuff at iConsumer, we make a profit, and that profit helps to increase our value. And that, in turn, should help our stock price to go up. And (yup, one more ‘and’) since you’re a stockholder, that means the stock you own should go up in value. No guarantees, but that’s the plan.
Duane Lester, February 2, 2018 at 9:37 pm
Can I purchase stock and how if so?
Kim Logan, February 2, 2018 at 11:25 pm
Hopefully very soon – we are awaiting SEC qualification of our newest offering (we expect it sometime in 4-6 weeks and will definitely let you know!). Once it is qualified, we’ll provide you with a direct link to purchase shares.
Robert Grosshandler, February 2, 2018 at 11:34 pm
Two ways to buy our stock currently. Both involve waiting.
1) Wait to buy it on the market. You’ll contact a stock broker, and say “I want to buy RWRDP” That’s our stock ticker symbol. We’re so new, they may say “huh”. If they do, we can help, just contact us. Figure late next week for that to be possible. You’ll “bid” for the stock — that is, you’ll say I’ll pay XXX for it, and if somebody wants to sell it to you for XXX, you’re an owner. Bid too low, and nobody will want to sell. Bid really high, and lots and lots of people will want to sell.
2) Wait to buy it from us directly. That’ll be possible once and if our offering is qualified by the SEC. Figure about four more weeks for that to happen. We’ve said we’re going to sell it for $.15/share.