Tag Archives: general solicitation

CEO Pleads Guilty to Securities and Wire Fraud

On October 3, 2012, Robert Kelly, CEO of software development company Wwebnet, Inc., was arrested on charges of securities and wire fraud. According to Forbes, from 2004 to 2008, Kelly “solicited investors to send money to various Wwebnet-related bank accounts, telling them that the funds would be used to develop software comparable to Apple iTunes,

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To Syndicate Or Not To Syndicate Your Startup (Continued)….

For the past two weeks, we have been discussing syndication as it relates to raising capital for startups: what is it and what are the advantages of using a syndicate, such as AngelList, to raise capital?  As promised, this week, we will examine the disadvantages and/or risks of using a syndicate.  As we noted last

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To Syndicate Or Not To Syndicate Your Startup….

Last week, we discussed the process for startups looking for capital, or funding.  In particular, we discussed AngelList, which is one of the most popular services for startups.  AngelList is a syndicate service with ten of thousands of backers.  Forbes magazine has described it much like social network sites such as Facebook, LinkedIn, and Twitter,

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What Your New and Growing Business Needs to Know Before Looking for Capital

In October,we discussed Title II of the JumpStart Our Business Startups Act, or JOBS Act, which took effect on September 23, 2013. Title II lifted the 80-year-old ban on general solicitation in this country, allowing small businesses and startups to publicly advertise that they are seeking investment, and the new law seems to be working:

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Small Businesses and Startups Rejoice: The Ban on General Solicitation Has Been Lifted

Last Monday, September 23, 2013, Title II of the Jumpstart Our Business Startups Act, or JOBS Act, took effect.  Title II lifted the ban on general solicitation, allowing small businesses and startups to publicly advertise that they are seeking investments.  For the past 80 years, general solicitation has been illegal in this country pursuant to

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