Each month, I’m bringing all of our stakeholders up to speed on events affecting their participation in the growth of iConsumer. Our goal is to make everybody an insider as we chart new territory in building a crowdfunded business. Marketing Our Faces of Wall Street campaign has launched full blast and is doing quite nicely. … Continue reading March 2017 – Letter from the CEO
It’s been a busy month for iConsumer. On February 13, 2017, the SEC re-qualified our offering. When we started this process, I was most worried that the SEC would be a major challenge. As I have stated before, I was worried for no reason. They have been terrific. This time around, they had a couple … Continue reading February 2017 – Letter from the CEO
Act I was designed to support a small raise of capital from friends and family. That capital gave us third-party validation as to our stock valuation, funding to get us listed and traded on the OTC QB, and the funds to launch a member recruitment campaign. Now, Act II. Make it possible for members and … Continue reading SEC Update – Act II: Getting Ready to Widely Launch the IPO – Our Amended SEC Filing
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
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
We have submitted our Form 1-A (the form required by Reg. A) to our SEC counsel for final review. We believe that this will be submitted to the SEC later this week. We completed preparing marketing documents (a “pitch” deck and a one-pager). We’ve begun sharing these with potential investors that have previously expressed an … Continue reading SEC Status Update – Feb. 15, 2016
We continue to work with our SEC counsel on our reply to the SEC comments. It is definitely taking us longer than we anticipated. We have learned an enormous amount in the last two months about how to structure our offering so that it is clearer, and hopefully more attractive to prospective investors. Additionally, we’ve … Continue reading SEC Status Update – Dec. 12, 2015
iConsumer has received its first comments from the SEC. It took less than a month from when we filed our paperwork. Now, our task is to answer those comments. ================================ NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED, AND IF SENT IN RESPONSE, WILL NOT BE ACCEPTED. NO OFFER TO BUY THE SECURITIES CAN BE … Continue reading SEC Status Update – Oct. 25, 2015