Thursday, June 4, 2015

Tech808 is this Saturday June 6th at George Washington University

Tech808 is this Saturday June 6th at George Washington University and it's shaping up to be one of the rarest types of tech conferences to hit the DC area. Tech808's mission is to bring awareness of the possibilities of tech entrepreneurship within the urban culture.

Who Should Attend Tech808?
Wantrepreneurs: You are the new guy/girl on the block. You want to start a company but have no idea how. You might have a 9 to 5 gig, been laid off, or decided it was time for a change. All of our speakers have been there, #Tech808 will not only educate you on tactics needed, but it will also leave YOU INSPIRED TO CHASE YOUR DREAMS!

Entrepreneurs: So you already started to chase your dreams? Salutes on that! Now join us at #Tech808 to learn how to take your company and yourself to the next level. We’ve brought together some incredible speakers to teach YOU their tactics that have led them to success.

Speakers/sessions include:
Paul Brunson - "Business Lessons I Learned From 3 Billionaires"
Sheena Allen / Benjamin Young - "How To Build Your First App" These two combined have over 10 millions downloads on the app store.
Dwight Peters - "Hustlers Ambition" How he came from sleeping on a couch to a $100,000 in profits building a tech business in 1 year.
And many many more!

Tickets are on sale now for $75, but using the promo code "family" will bring the cost down to just $55.
RSVP now to learn actionable tips you can apply to your business the same day.

Saturday, May 23, 2015

Illinois Approves Intrastate Crowdfunding

As one author noted, "Here are some of the main points of the Illinois Intrastate Crowdfunding Bill (HB 3429).

Adds new definition of 'accredited investor' which is now tied to the federal definition (see new 815 ILCS 5/2.34).

Amends the transaction exemption provided by 815 ILCS 5/4(H) to allow for offers, sales and/or issuances of securities to any 'accredited investor' and for the general promotion of the same (to the extent specified in the Bill).

Provides new definition of  'qualified escrowee,' which includes title insurance companies and banks authorized to do business in Illinois who maintain at least one (1) physical location in the state (see new 815 ILCS 5/2.35).

Provides new Intrastate Crowdfunding Exemption (see 815 ILCS 5/4(T)). Highlights include:
$1,000,000 funding cap unless the Issuer has made available to prospective purchasers audited financial statements, in which case the funding cap will be $4,000,000. – See subsection (2)
Max amount received by an issuer from any particular purchaser (other than accredited investors) is limited to $5,000 per year. – See subsection (3).

Requires use of a 'qualified escrowee' for the collection of funds from potential purchasers. – See subsection (8).

Requires the issuer, and each internet portal used, to establish commercially reasonable measures for limiting access to information to residents of Illinois. – See subsection (11).

Allows for 'general announcement' of offering by issuer. – To be in final administrative rules.
Requires delivery (or electronic access to) internally prepared quarterly financial statements/business reporting of issuer.  – To be in final administrative rules.

Provides new definition of 'registered internet portal.' (see 815 ILCS 5/2.36).

Establishes new provision related to offerings made through a 'qualified internet portal' (see 815 ILCS 5/8d). Highlights include:

Provides for an exemption from registration as a 'dealer' or 'investment adviser' under the Act for an internet portal that meets certain requirements. Specifies certain actions which do not, by themselves, constitute offering investment advice or recommendations. – See subsection (b).

The portal shall be owned by an entity organized, or otherwise qualified to do business, in Illinois and in good standing. – To be in final administrative rules.

Allows for 'general announcement' of offering by internet portal. – To be in final administrative rules."