Our Crowdfunding Network Is Growing Part 26

This week has shown little progress with getting our network going. We have all been at a syndication symposium in Vegas most of the week. I did learn quite a bit more about the new crowdfunding rules and met Ruth Hedges. We have been doing quite a bit of promotion for a few crowdfunding conferences in Austin and Vegas too.

Fundrise wants us to have full-up documents ready before we put stuff on their site under 506(c) so I am leaning toward just using some white-labeled back-end software to go with our new Inner 10 Capital site instead. We have another call with Groundbreaker this Friday to discuss using their software for our back end. They have a skeletal CRM system and have partnered with Crowdentials to provide third party verification for reasonableness tests. I liked Crowdbouncer's services better, but nobody has really solved the net worth reasonableness items as far as I can tell thus far. We'll see how that goes.

Our new website is pulling 2-3 investors per week now and Fundrise still has between 3 and 10. We're up to 143 investors total in our collective network that have been identified since January 1st. The notional amount of funding is $8.74M+ from these 143 investors.

Over the next few months we'll likely pare back our efforts and focus on a few items. iFunding isn't going anywhere and we may purchase some lead flow from ForeFund Capital. I also have some calls set up with new portals and services I found from the symposium and I'll likely conclude efforts after this October when I visit Ruth's crowdfunding conference in Vegas and the one in Austin. At that point I will feel like we have surveyed the environment pretty thoroughly. At this point we're leaning toward using iFunding for all our current deal flow and building our own portal through our own site/brand. Fundrise may or may not be part of the mix as things unfold and ForeFund Capital is a possible lead source if we can't generate enough demand or lead flow on our own with automated scripts and PR campaigns. Our PR campaign will probably begin in earnest in June after some of our site changes stabilize and are blessed fully by our securities attorney.