Speaking Federally, there is sort of a "friends and family" exemption.  Rule 504 allows up to $1 million of capital to be raised without a strict disclosure requirement, from pre-existing contacts of the principals only.  504 doesn't override state law, so there might be state laws that are more restrictive.

On Sun, Oct 4, 2015 at 5:35 PM, Stefan Dunkelgrun <[address removed]> wrote:

There is no friends and family exception.

Traditionally you either needed accredited investors or full registration.

Recently, a change allows a limited number of non-accredited investors for small capital raises, but the required disclosures are onerous and expensive, and VCs won't touch a company that has raised funds from non-accredited investors 

On Oct 4, 2015, at 4:32 PM, Dean Collins <[address removed]> wrote:

Lol that referencing a cached page is a cybercrime…. - https://web.archive.org/web/20151001025259/http://forthepeeple.com/#shareholders

 

I am curious though how bodybuilders/roommates etc qualify as “qualified investors”, Brian may not have committed “cyber crimes” but wondering if the Peeple founders committed SEC violations.

 

Any thoughts on how this could be allowed? Eg can you make an exception under SEC fundraising for limited friends and family?

 

 

 

Regards,

 

Dean Collins
[address removed]
[masked]    New York
[masked]    (Sydney in-dial).
[masked] (London in-dial).

 

 

 

 

From: [address removed] [mailto:[address removed]] On Behalf Of Damion Hankejh
Sent: Sunday, October 04,[masked]:04 PM
To: [address removed]
Subject: Re: [newtech-1] Yelp for people

 

Peeple appears to be already caught up in their self inflicted tailspin. A Twitter kerfuffle with noted digital marketing analyst, Brian Solis, after his LinkedIn review article ended with Julia and Nicole cluelessly asserting "arrestable cyber crime." The company's Twitter and Facebook pages have been deleted.

---

Damion Hänkejh | ingk.com/d

 

On Thu, Oct 1, 2015 at 10:18 AM, Damion Hankejh <[address removed]> wrote:

Nicole McCullough is paranoid about her neighbors and babysitters! Julia Cordray is a bubbly, trendy lady who can't wait to showcase her character!

 

This Peeple app is their best bad idea -- dead on arrival.

 

The parody Twitter account is entertaining, though:

https://twitter.com/peopleforpeeple

​

---

Damion Hänkejh | ingk.com/d

 

 

On Wed, Sep 30, 2015 at 10:11 PM, Tasha <[address removed]> wrote:

So, this app comes out in November...

 

Everyone you know will be able to rate you on the terrifying ‘Yelp for people’ — whether you want them to or not - The Washington Post - www.washingtonpost.com

https://www.washingtonpost.com/news/the-intersect/wp/2015/09/30/everyone-you-know-will-be-able-to-rate-you-on-the-terrifying-yelp-for-people-whether-you-want-them-to-or-not/

 

 

 

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