Start-Up Funding: Avoiding the Pitfalls. David J. Lehman September 13, 2012. Agenda. Introduction Applicable Laws (Including the JOBS Act) The Security Commonly Discussed Terms Top 10 (or so) Pitfalls Questions and Answers. Funding Cycle.
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Start-Up Funding: Avoiding the Pitfalls
David J. Lehman
September 13, 2012
“Any note, stock, bond, debenture, evidence of indebtedness…investment contract…”
In general: Registration is required with the Securities and Exchange Commission for the sale of securities (e.g., an S-1)
For Unaccredited Investors, detailed information must be provided
If more than $500,000: audited financial statements
Example 1(Priced Round)Initial