Monday, August 26, 2019 4:40:53 AM
In 1996 John Fanning founded Netcapital LLC, by 2010 it's just one of several LLCs that Fanning uses to invest in small companies. Here's an example that impacts VSTR, his investment into Paul Riss' company:
https://www.prnewswire.com/news-releases/netcapital-signs-agreement-to-buy-out-pervasips-lender-121885338.html
However in 2012 John Fanning's son starts a company called Zelgor, and hires a fellow student from his university named Jason Frishman as a consultant. Frishman understands the Jobs act and convinces John Fanning Sr. to let him use the Netcapital domain name for a new company that will use it to profit via equity crowdfunding.
Now go to Netcapital's About us page: https://netcapital.com/about
You will notice that John Fanning Sr. and Paul Riss are connected to Netcapital, Riss as Chef compliance officer and Fanning as an advisor. These to me are much more important to this story than may readily be apparent. If we return to 2014 Frishman has this great idea but how can he bring it to fruition?
Well remember that Netcapital had been one of several LLCs that Fanning used to invest in small companies, another such company was a company called Vaxstar LLC. And in 2010 Fanning had uses Vaxstar to divest the costs of his Netgames associated businesses such as Chess,net made himself an advisor and to become it's largest shareholder. So once he saw the potential of Frishman's equity crowdfunding idea in 2014 he had to change the direction of Valusetters and clean up the Netcapital LLC from the debts that it had incurred the earlier struggling investment in Pervasip. So that is what he did. First Valusetters changed its focus from games, to providing the same services that Netcapital does in a complimentary way.
From VSTR's 2018 10K:
Then a few months later Valuesetters absorbed all of Netcapital LLC's bad debts. From Pervasip's 10K:
More importantly it allowed Netcapital LLC to start with a clean slate and gave it a sister company that could help it get off to a good start. Eventually with the new management team that came to the VSTR in 2017, Valuesetters and Netcapital entered into a fully symbiotic relationship where the success of one depends on the other. Valuesetter's needs Netcapital's funding portal to attract clients, and Netcapital needs Valuesetters to write their clients offering pages, assist with digital marketing in such a way as to attract investors etc. Since they already function as two halves of the same company it makes sense that someday they will merge into one company.
Recent NCPL News
- Netcapital Announces Exercise of Warrants for $2.2 Million Gross Proceeds • Business Wire • 05/24/2024 08:47:00 PM
- Netcapital Announces Intention to Complete a Reverse Stock Split at Special Stockholder Meeting • Business Wire • 05/24/2024 04:38:00 PM
- Netcapital Pursues Broker-Dealer License to Increase Potential Revenue Generation • Business Wire • 05/08/2024 12:00:00 PM
- Netcapital Announces Third Quarter Fiscal 2024 Financial Results • Business Wire • 03/18/2024 09:41:00 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 03/05/2024 10:18:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 10:10:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 09:00:28 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 08:47:07 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 01/09/2024 11:05:14 AM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 01/09/2024 11:03:11 AM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/04/2024 09:31:19 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 12/29/2023 06:07:13 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/27/2023 09:14:28 PM
- Netcapital Announces Closing of $4 Million Public Offering • Business Wire • 12/27/2023 06:19:00 PM
- Form 424B4 - Prospectus [Rule 424(b)(4)] • Edgar (US Regulatory) • 12/26/2023 08:22:39 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 12/22/2023 05:15:14 AM
- Netcapital Announces Pricing of $4 Million Public Offering • Business Wire • 12/22/2023 02:27:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/14/2023 10:12:08 PM
- Netcapital Funding Portal Revenues Increase by More Than 150% • Business Wire • 12/14/2023 09:10:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/14/2023 09:06:01 PM
- Netcapital to Present at The Singular Research Best of the Uncovereds Conference on December 7, 2023 • Business Wire • 12/05/2023 09:15:00 PM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 11/30/2023 10:19:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/21/2023 10:14:44 PM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 11/15/2023 09:05:55 PM
- AMERICAN WEEKEND ENTERTAINMENT TEAMS WITH NETCAPITAL FOR CAPITAL RAISE • PR Newswire (US) • 11/08/2023 05:01:00 PM
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