SEC Update – June 8, 2016

By: Robert Grosshandler | June 8, 2016

“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 lessons learned from the Elio Motors offering have meant that a more deliberate process is in place than was previously anticipated.  Our technology provider – FundAmerica, in conjunction with the regulator FINRA, are working through their portion of the offering approval process.

After that approval is done, we still expect about a week of work before we can get “Qualified”.  Our auditors need to sign off on the final offering (two days), and then the SEC has two days to respond.

So, Any Day Now.

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