Thank you for your interest in Wall&Main. After being 32 months late, on November 30, 2015, the SEC finally approved the Title III Crowdfunding rules. It has been 24 months since we delayed Wall & Main’s Phase Two launch scheduled for November 2013. We are eager to continue our quest to provide entrepreneurs with great potential, and individuals with the desire to help them reach that potential, with the most efficient and effective platform to meet and grow their businesses but it is not clear whether these new rules will enable us to do so.
We will be studying the rules closely and talking to our attorney’s and advisors over the next few weeks to determine if these rules truly provide the opportunities Congress and the Jobs Act intended for Investors, entrepreneurs, and the crowdfunding portals like Wall&Main, who provide the platform for the two to meet.
Our original plan was to begin to crowdfund businesses with two campaign alternatives... a donation/reward platform and an equity/debt platform for accredited investors, and to add the third and most important leg of the stool, an unaccredited investor campaign platform as soon as it was legal. While we believe the first two are both significant opportunities; we formed our business to provide every person, not just the wealthy, the opportunity to invest in quality startups and existing companies looking to expand.
Therefore, it is this final piece of the puzzle, at least for Wall&Main, that is critical to our vision. We hope finally that the rules provide the legal framework that will facilitate equity crowdfunding for all investors, big and small…for entrepreneurs start up and established….and for Wall & Main’s investors and team.
We hope our initial concerns have been rectified in the approved rules. If they do, it is our intention to bring Wall&Main out of hibernation and continue to pursue our vision that crowdfunding is uniquely suited to help both investors and entrepreneurs ultimately succeed ….in capital, company and job formation.
As soon as we make a final determination, we will announce it here at wallandmain.com.
Michael D London