Our Crowdfunding Network Is Growing Part 72

My what a tangled web we weave...

I feel a bit like Alice tumbling down the rabbit hole trying to navigate the securities laws of late for our new portal.  Trying to get a straight answer on whether or not we need to register as a RIA is very difficult.  I think we've resolved ourselves to send one of our team members to get the Series 65 in case state regulators later ask for us to adhere to the RIA regime.  Mark Roderick has some great posts on this on his site, but nobody seems to know the right answer.

After much other gymnastics I think we have a pretty clear path forward on the "operating company" for our new debt fund that will eventually issue securities under Title IV and pave the way for non-accredited investors to invest on our site.  We'll eventually open things up under 506(c) though to bridge the 6-month brain damage gap with The SEC under Tier II of Title IV.  

We have implemented a lot of bug fixes and site enhancements.  We need to implement the automated emails with our now-functioning CRM.  That will be a good task for next week.

We are scheduled to meet with pre-funding partners next week and have been busy building pitch decks for that.  This weekend is our Board meeting, the Successful Syndicators Symposium, and the kickoff meeting for our new portal of portals.  We also have a syndication conference next week.  So things will be pretty busy.

Given all of the fuss we haven't had much time to advertise our Gloucester project.  Hopefully we'll get some more investors there, but there really is not rush.  The way the deal is structured we can keep marching along and funding is not delaying the project at all.  Worst case we'll buy the remaining securities from our own coffers.  I expect a debt project to do better as our third offering.