3 ms·
I love the idea but I'm a little worried about how they keep calling it an investment. I don't know the details but the phrase "accredited investor" and the is
by pchristensen 17y ago
I love the idea but I'm a little worried about how they keep calling it an investment. I don't know the details but the phrase "accredited investor" and the issues Prosper had come to mind. I sure hope they don't get into trouble for using the word "investment" without discussing the return.
EDIT: Oh, there's a spreadsheet at the bottom with potential return information.
- tialys 17y agoYeah, they raised over $19,000 the first day, panicked and called their lawyer, but they've determined it doesn't violate any SEC laws, so it's back up and moving.
- falsestprophet 17y agoThe only way they could have accomplished this is by calling a lawyer that doesn't know anything about securities law.
- anigbrowl 17y agoI looked at the agreement and the law firm. They have no background in entertainment law and it shows. I hate to be the bad guy and am not a lawyer but even I can see it's a ticking time bomb. I don't know about securities, but I do know a fair bit about entertainment contracts. In the event that any of the principals is reading this, read clause J again. That is the least of the things wrong with it.