Elio Crowdfunding

[LillyMayPatterson #1685 & #5648]

Tell a lie Bower. You will be the one to live with your decision, nobody else. If you can afford going all in, and believe in the project, heck it is a non brainer, lol.

 

[bowers baldwin]

Tell a lie Bower. You will be the one to live with your decision, nobody else. If you can afford going all in, and believe in the project, heck it is a non brainer, lol.

Yea, tell a lie about finances, I should try that with the IRS next year...or worse my wife!

 

[Johnny Acree]

Does anyone know how this will work when it's time to pony up? From my understanding I we can only invest 10% of income, my situation is I have plenty of money to invest, but my yearly income really doesn't reflect that. I am guessing we will have to disclose personal finance records an go from there. What's the cut-off on this, example (fake numbers used here) say I have $100K in the bank but only make $40K a year. How will this factor? Will I be able to go in at 5 or 6 grand?

As I understand it,, it's 10% of income or 10% of net worth not including your home

 

[bowers baldwin]

As I understand it,, it's 10% of income or 10% of net worth not including your home

So as long as am willing to live on the streets, I can invest $200,000+. Got it.

 

[Chris F]

I've been wondering,, What if the offering is over sold? will we get a percentage?, or will they start with the high offers and work down to the lower offers?,, or will it be first come first served?

We need to see the actual offering statement. I've seen deals go each way.

 

[Chris F]

So as long as am willing to live on the streets, I can invest $200,000+. Got it.

That's not what that means. It means that you can't count the value of your home in determining net worth.

 

[bowers baldwin]

That's not what that means. It means that you can't count the value of your home in determining net worth.

Exactly, I sell my house, live on the streets, and invest the proceeds. See it's all legal.

 

[WilliamH]

Yea, tell a lie about finances, I should try that with the IRS next year...or worse my wife!

It's not that Elio or StartEngine want to limit what you can invest.
It's the SEC that wants to limit you because they are rich and if they let you invest as much as you want, you may be rich also. As a result, they try to limit you. Cause only stock brokers and politicians should get rich from playing the stock market.

 

[Hightech]

With a 25 million goal is sounds like they may be going after Tier 1 (20mill cap) and expecting a 20% drop out rate. Tier 1 does not set forth any actual limits.

Tier 2 on the other hand states no more than: (1) 10% of the greater of annual income or net worth (for natural persons)


As I stated earlier, the actual amount of money involved in the grand scheme of things is peanuts compared to real life. SEC has no mandates on verification other self-certification for this; SEC takes into consideration that no one is actually an accredited investor though as they would be subject to verification.

 

[bowers baldwin]

With a 25 million goal is sounds like they may be going after Tier 1 (20mill cap) and expecting a 20% drop out rate. Tier 1 does not set forth any actual limits.

Tier 2 on the other hand states no more than: (1) 10% of the greater of annual income or net worth (for natural persons)


As I stated earlier, the actual amount of money involved in the grand scheme of things is peanuts compared to real life. SEC has no mandates on verification other self-certification for this; SEC takes into consideration that no one is actually an accredited investor though as they would be subject to verification.

Ok, let's play this out as a paranoid person would, I invest $6000, make $1M a few years from now, someone checks into my finances and discovers I only make $40K a year, now my $1M is forfit because I should have not been able to invest all that $ in the first place..