Thursday, September 26, 2013

Hey, look us over!

And write us a check...if you're fat enough, because it's legal to invest again in small fry with attitudes;
This week thousands of new and small private businesses, like Rick's Picks, launched public marketing blitzes to sell shares in their companies—a tactic that securities regulators barred more than 80 years ago to protect investors from get-rich-quick scams. On Monday, the SEC lifted that ban, allowing small private companies to publicize investment offers without having to register an initial public offering—which can be a costly and burdensome requirement for those businesses—provided the sales are limited to wealthy investors.
....The public fundraising move is a central provision of the Jumpstart Our Business Startups Act, approved by Congress last year, which seeks to ease restrictions on small businesses raising cash to grow.
Douglas Penman, for instance, says he is planning to make T-shirts promoting investment opportunities in his San Francisco startup, Nukotoys Inc., which makes children's educational trading cards for mobile devices. He's hoping to have the T-shirts worn by skyscraper window washers, to catch the eye of wealthy executives inside. The company, launched in 2010, is looking to raise $2 million to expand its user base, he says.

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