traklight slides vvreo
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Crowdfunding Update for VVREO - JOBS Act; Lessons Learned Crowdfunding Campaigns.TRANSCRIPT
"TRAKLIGHT", "ID YOUR IP", "IP VAULT", and "IP CLOUD" are registered trademarks of The PIP Vault, LLC. © MMXIII The PIP Vault, LLC. All Rights Reserved.
Mary Juetten, Founder & CEOJill HowardAllen, COO
Feb 21, 2014VVREO
L Crowdfunding Overview
REWARDS BASED:Indiegogo, Kickstarter, Rocket Hub
EQUITY BASED (JOBS Act):Debt or Security
OTHER:Angel List, Lending Club, Prosper, MicroVentures
RULES: 585 PAGES
295 Questions
Equity/Debt Status
Equity/Security is not yet Legal (Title III)
Rule comment period ended Feb 3rd, 2014
Intrastate live in several states
10 Requirements JOBS Act
1. Registration & Incorporation in US2. Names – Directors, Officers, >20% SH3. Business Description & BUSINESS PLAN4. Prior years Tax Returns 5. Financial Statements6. Use of Proceeds7. Offering Details & Progress Updates8. Share price & methodology (VALUATION)9. Ownership & capital10. Capital (existing, offering & differences)
Rules – FORM C Disclosure
1. Registration & Incorporation in US2. Names – Directors, Officers, >20% SH3. Business Description ONLY4. Prior years Tax Returns 5. Financial Statements ONGOING & ANNUAL
REPORTS6. Use of Proceeds7. Offering Details & Progress Updates8. Share price & methodology (VALUATION)9. Ownership & capital10. Capital (existing, offering & differences)
GAAP Financial Statements
< $100K – CEO$100K to < $500K Review$500K = AUDIT by non-PCAOB but licensed
Certified Professional Accountant (CPA) Firm
Not the same CPA as preparations!
Devil in the Details
$XM Valuation/ $X per share price/ Total $XK
Spend: MAKE SELL OPERATE
$XK Now $XK $YK $ZK$XK Next $XK $YK $ZK$XK Then $XK $YK $ZK
$
Valuation Issues
Recent Venture Beat article:
- Employee Stock Options- Key Performance Indicators (KPIs)
EQUITY is not Easy
Requirements include:
Business Plan
Financial Statements
Background Checks
Valuation
IDENTIFY IP
PROTECT IP
PICK A PLATFORM
BUILD SOCIAL CAPITAL
CREATE A PITCH
CROWDFUNDING APPROACH
Case Study: Lessons Learned
What they do.
• Genetic Art– Ts– Portraits
• Channels– Obsessed pet owner– Animal organizations
• Convert Steel shipping containers into medical clinics
• Cooling/Heating installed• Most of medical equipment
needs/electric and sink• Durable• Quickly Installed
Seriously?... Try again?
• Lessons learned• New plan of action• New cause• New business
opportunity
The new plan.
• Pre-Selling• HEAVY PR
– Social Presence– Local media
• Partnering• Get it in writing• New rewards structure• SCHEDULE
Results?!
ONLINE
Campaign
Business Plan
Projections
`
STEP 5: CREATE PITCH
Ignorance is NOT a Defense
Be Careful:
Video
Copy
Business Plans
READ READ READ
Read License & Permission to Use
Check out CreativeCommons.org
Questions?
Mary Juetten
@traklight
IDENTIFY. PROTECT. SUCCEED.
www.traklight.com
TAKE OUR FREE RISK QUIZ
USE CODE THANK YOU FOR FREE ID YOUR IP REPORT
Jill HowardAllen
@traklight