TCBronson
Elio Addict
Not sure how the crowd funding works. So if we invest in the crowd funding opportunity, what exactly do we get in return and when?
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Crowd Funding, What Do We Actually Get.
- Thread starter TCBronson
- Start date
Johnny Acree
Elio Addict
- Joined
- May 12, 2014
- Messages
- 1,530
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All you are promised is Three E Mails saying you own stock in Elio Motors. But,,, in the un-known future, know body knows.
Sethodine
Elio Addict
Q: What do you get?
A: You get the opportunity to buy stock in the company before it goes public, just like millionaire venture capitalists get to do. It levels the investing playing field. The minimum buy-in is 50 shares @ $12 per share, totalling $600.
Q: When does this happen?
A: Everybody who indicates an interest to buy shares will, at a future date, be given the opportunity to actually purchase those shares. There will only be a 7-day window to purchase, and if people want to buy more shares than available, then everybody will be limited to the 50-share minimum so that as many people get a chance to buy-in as possible. However, it looks like there will be plenty to go around (right now, all 11,000+ investors could buy about 200 shares each).
Q: What is this "future date"? When is that?
A: Once the SEC approves Elio's application for Equity Crowdfunding. The "expression of interest" is used both to reserve your shares, and to show the SEC that there is a genuine investor interest in the company. The SEC is meeting to discuss this as we speak, so approval could be any day. Or it could be next month. This is new territory for both industry and government, so baby steps are to be expected.
A: You get the opportunity to buy stock in the company before it goes public, just like millionaire venture capitalists get to do. It levels the investing playing field. The minimum buy-in is 50 shares @ $12 per share, totalling $600.
Q: When does this happen?
A: Everybody who indicates an interest to buy shares will, at a future date, be given the opportunity to actually purchase those shares. There will only be a 7-day window to purchase, and if people want to buy more shares than available, then everybody will be limited to the 50-share minimum so that as many people get a chance to buy-in as possible. However, it looks like there will be plenty to go around (right now, all 11,000+ investors could buy about 200 shares each).
Q: What is this "future date"? When is that?
A: Once the SEC approves Elio's application for Equity Crowdfunding. The "expression of interest" is used both to reserve your shares, and to show the SEC that there is a genuine investor interest in the company. The SEC is meeting to discuss this as we speak, so approval could be any day. Or it could be next month. This is new territory for both industry and government, so baby steps are to be expected.
TCBronson
Elio Addict
Thanks
Ekh
Elio Addict
I would expect a "go" from the SEC in a matter of weeks, if not days. I have no specific source for that conclusion.