regulation equity crowdfunding - final
TRANSCRIPT
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8/19/2019 Regulation Equity Crowdfunding - Final
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Equity Crowdfunding
akaRegulation Crowdfundin
aka
Reg CF Crowdfunding
Overview
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Presenter Bio
• Casey Barach• BS, JD, MBA
• SVP, Tri-ED
• Director, KIN@NKY
• UTech Acce!erator Pro"ra#, $o%n&er
• UTech $%n& I ' II, $o%n&er• Kent%c(y An"e! Ta) Cre&it, A%thor
• E*%ity Bac(e& Entrerene%r
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JOBS ActTimeline
Ari! +, . J%#start /%r
B%siness Start%sAct 0J/BS Act1
Sete#2er 3,.3 4enera!
So!icitation 0Tit!eII1
J%ne .5, .+ 6e" A7 0Tit!e
IV1
Jan%ary 5,.8 6e" C$
0Tit!e III1
M"#
CF $'au
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O*er*iew of +Crowdfundi
Reward)Crowdfunding
Equity FundingCrow
-latform) Kic(starter An"e!9ist, See&In:est $%n&
.(o Can -lay/ E:eryoneAccre&ite& In:estors
/n!y;E
Regulatory/ None 6e" D 6
.(at Are 0ouBuying/
Prototye o= Pro&%ctSec%rities >/?nershi
Se/?
A!so 9en&in" 2ase& Intrastate 6oya!tyy2ri&s
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Equity Crowdfundingig(lig(t)
;9o? cost< #ass #ar(et =%n&raisin" otion
A!!o?s a co#any to %2!ic!y =%n&raise % to .M
E)an&s the oo! o= otentia! in:estors
9i#its in:estor in:est#ent a#o%nts
SEC 6e*%ire#ents $or#s, $inancia!s, A&:ertisin", An
6eorts
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%m2act 3 .(y do yocare/
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%m2act 3 .(y do yocare/ T?o 6easons
Ne? #eans o= raisin" caita!
E)an&s the oo! o= otentia! in:estors
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45S5 %n*e)tor -o2ulationAccredited %n*e)tor .orld6
F
Gesti#
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45S5 %n*e)tor -o2ulationEquity Crowdfunding %n*e)tor .o
Gesti#
H8F
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Equity CrowdfundingT(ree -layer)
$%n&in" Porta!G
G/n!ine Bro(er-Dea!ers or $%n&in"Porta!s
In:estoCo#any
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Equity Crowdfunding%n*e)tor)
•Se!= Accre&itation Inco#e, Netorth ' In:est#ents to Date
•6esa!es restricte& =or one year
• In:est#ent a#o%nt !i#its
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Equity Crowdfunding%n*e)tor %n*e)tment 'imit)
Deter#ine Ann%a! Inco#e an& NetorthG
I= either- ., or
!ess
4reater o= , or+F o= the !esser
I= 2oth o:er .,
.F o= !esser
Gsa#e &enition as 6e" D
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%n*e)tor %n*e)tment 'im
%n*e)tor
Annual%ncome
%n*e)tor 7et.ort(
'e))er
Calculation
3, .+, 3, 4reater o= , or +F o= 3, 0.,+
.+, , , 4reater o= , or +F o= , 0,
.+, ., ., .F o= ., 0.,1
, 5, , .F o= , 0,1
.,,
,,
.,,
.F o= .,,0.,1, s%2Lect to ., ca
Se!= Accre&itation 2y In:estor
Inco#e, Net orth ' In:est#ents A#o%nts
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Equity CrowdfundingT(ree -layer)
$%n&in" Porta!G
In:estoCo#any
G/n!ine Bro(er-Dea!ers or $%n&in"Porta!s
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Equity CrowdfundingCom2any
•
9i#it - .M in ro!!in" . #onths•M%st %se a $IN6A aro:e& =%n&in" orta! 0one at a ti#
•/n!y US entities
•B%siness P!an re*%ire&
•SEC $or# C
•B%siness Na#e
•$inancia!s 0 Years1•/erin" In=or#ation
•$o!!o?in" $IN6A aro:a!, . &ays 0coo!in" o erio&
•/n"oin" Ann%a! 6eort, inc!%&es nancia! reortin"
•A&:ertisin" !i#its - =act%a!
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Equity CrowdfundingCom2any Financial 8i)clo)ure Require
Rai)ing 91##:or 'e))
Rai)ing 91##: to9;##:
Rai)ing 9;##:91M
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Rai)ing 91##: or 'e))
The co#any #%st ro:i&e nanciastate#ents certie& 2y the e)ec%ti:e
ocer o= the iss%er to 2e tr%e an&co#!ete in a!! #ateria! resectsO
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Rai)ing 91##: to 9;##
The co#any #%st ro:i&enancia! state#ents re:ie?e& 2y a
%2!ic acco%ntant that isin&een&ent o= the iss%erO
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Equity CrowdfundingT(ree -layer)
$%n&in" Porta!G
In:estoCo#any
G/n!ine Bro(er-Dea!ers or $%n&in"Porta!s
Equity Crowdfunding
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Equity CrowdfundingFunding -ortal)
•M%st 2e $IN6A re"istere& an& aro:e&
•Ser:ices oere& ?i!! ran"e =ro# 2asic to a&&e& s
•May 2e a =orei"n entity
•May recei:e cash an&>or e*%ity as co#ensation
•M%st ro:i&e in:estors ?ith e&%cationa! #ateria•M%st ro:i&e co##%nication channe!s =or &isc%s
oerin"s on the orta!
•May not oer in:est#ent a&:ice or #a(e reco#
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E
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-otential %))ue)
I#!e#entation &atesE)enses9e"a!
Acco%ntin"
Porta! ' Porta! Ser:ices
No oo!in" o= 99Cs
Porta! re*%ire#ents
$%t%re nancin" i#act
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Than( Yo%Casey Barach
casey@n(yinno:ationOor"
mailto:[email protected]:[email protected]