MJ DeMarco
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So StartEngine is raising money through equity... you can have a chance at owning part of the company! Hooray!
invest.startengine.com
Red flag #1: Kevin 0leary who seems to sell his soul and his endorsement to the higher bidder.
Red flag #2: My experience with WeFunder, read here:
www.thefastlaneforum.com
Sum of that thread? The platform is being used by early startup entrepreneurs as a source for 0%, free loans for an indefinite period of time.
Red flag #3: OMG, read the offering prospectus...
Of course, few people will read the fine print of the offering details....
In short, it looks like the same type of scam Wefunder allows with their companies.
They too are looking to get interest-free loans from "so called" investors which has just been renamed to "Common Stock"...
When you invest, you also relinquish your voting rights to the the majority shareholders. That's right, you get no voting rights. It also says the proceeds are going to marketing and administrative salaries. Of course, they can use the proceeds to pay the CEO and inner C-Suiters millions per year.
This also gives them the power to say, "You get your money back!" while you get no ROI regardless of company performance. And it doesn't matter if they go IPO, sold for billions, or anything...
Also, existing shareholders are able to acquire shares (likely Preferred Shares) at an undisclosed discount.
More details..
More details...
It appears much of the proceeds are going to "Selling Shareholders" -- in other words, they are getting an exit event without really doing anything, growing a company, and having it go public. In short, they are turning this into not only a risk-free venture, but a venture that has already paid them millions. On top of that, more fine print: a 10% - 20% bonus! Wow, what a nice return!
Once again, this appears to be just a bunch of filthy rich people taking advantage of uneducated investors to get free, indefinite 0% interest loans, while also enjoying an exit event without doing much of nothing... just like most equity financing schemes done on these platforms.
IMO, I'd avoid it.
I'm willing to bet with 90% confidence that any investors in this are subjecting themselves to a "best case scenario" of a return of capital (ROC) ... yes, the Interest Free Loan for years while the preferred shareholders make out like bandits.
Folks, in my opinion you'd better off taking that $500 and putting it into Bitcoin, or your own business and/or side hustle.
StartEngine OWN
invest.startengine.com
Red flag #1: Kevin 0leary who seems to sell his soul and his endorsement to the higher bidder.
Red flag #2: My experience with WeFunder, read here:
Avoid the WeFunder Scam and You Avoid Investing Your Money for 0% Return
Folks who are interested in investing in companies via equity crowd sourcing? Avoid WeFunder. I can't speak for how the other equity-crowd-sourcing companies operate. The platform is a joke for investors, but let me tell you, as an early stage company, its a great place to get 0% loans and...
www.thefastlaneforum.com
Sum of that thread? The platform is being used by early startup entrepreneurs as a source for 0%, free loans for an indefinite period of time.
Red flag #3: OMG, read the offering prospectus...
Of course, few people will read the fine print of the offering details....
In short, it looks like the same type of scam Wefunder allows with their companies.
They too are looking to get interest-free loans from "so called" investors which has just been renamed to "Common Stock"...
When you invest, you also relinquish your voting rights to the the majority shareholders. That's right, you get no voting rights. It also says the proceeds are going to marketing and administrative salaries. Of course, they can use the proceeds to pay the CEO and inner C-Suiters millions per year.
This also gives them the power to say, "You get your money back!" while you get no ROI regardless of company performance. And it doesn't matter if they go IPO, sold for billions, or anything...
Also, existing shareholders are able to acquire shares (likely Preferred Shares) at an undisclosed discount.
More details..
More details...
It appears much of the proceeds are going to "Selling Shareholders" -- in other words, they are getting an exit event without really doing anything, growing a company, and having it go public. In short, they are turning this into not only a risk-free venture, but a venture that has already paid them millions. On top of that, more fine print: a 10% - 20% bonus! Wow, what a nice return!
Once again, this appears to be just a bunch of filthy rich people taking advantage of uneducated investors to get free, indefinite 0% interest loans, while also enjoying an exit event without doing much of nothing... just like most equity financing schemes done on these platforms.
IMO, I'd avoid it.
I'm willing to bet with 90% confidence that any investors in this are subjecting themselves to a "best case scenario" of a return of capital (ROC) ... yes, the Interest Free Loan for years while the preferred shareholders make out like bandits.
Folks, in my opinion you'd better off taking that $500 and putting it into Bitcoin, or your own business and/or side hustle.
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