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Sunday, July 05, 2020 1:28:36 PM
So even though they didn't raise capital through the Reg A+ yet, the PPP freed up $800k that would have otherwise been needed for payroll and operating cost, this could now be used for development. The PPP provided as much capital as 10-15 million of the Reg A would have towards software development.
This offering is being marketed both publically and privately. There may be a reason they 8k'ed the projected minimum revenue instead of a PR. If private funding is being lined up ahead of time, which is what I suspect, they could announce a substantial offering closing in conjunction with an LOI of an acquisition, supporting the distribution of the software. Money follows the money and this combined with the increase in commons and growth of the company would bring the smaller investors in to close out the offering.
Just some of my thinking.
The CEO did verify that investors in the Reg A+ do not need to disclose their position and that the only requirements are the limits of 10% of net worth. Other than that there is no limit or filing requirements for ownership.
CLWD!!
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