I think this sounds awesome.. 
These are some of my qustions:
- You say compliance with Canada.. however, the securities compliance for crowdfunds in Canada are provincial and not federal.. will that be the level of compliance you will accomplish?
- You say maw paw shops.. that suggests to me you are going to need boots on the ground so to speak to act as gateways/hand holders to these businesses that otherwise know nothing about this opportunity to crowdfund. does the business model incorporate regional partners?
- You mention seeking out existing ATM operators.. I have a friend in my area that owns many in this area and manages them from top to bottom. What would be the advantage to him to incorporate this into his existing ATMs..can he?
- I have tens of thousands of sq/ft of space in the bunker that would be ideal for assembly and/or distribution... need a Canadian distributor? Guaranteed to keep inventory safe under all conditions!
Looking forward to your reply!
I apologize, this is why I don't belong as the public voice of this. According to the new guidance, US & Canadian companies can participate in JOBS act funding in accordance with US law. Furthermore, parties from outside the US & Canada can participate by contributing capital, i.e. investing but cannot request capital e.g. make an offering. In the USA, state law was completely pre-empted by the SEC in this regard. It's possible some states such as AZ will likely sue to block the SEC. If that occurs it would be a direct threat to our business model.
Canadian companies are welcome to participate, but I expect that local laws there would not be superseded by SEC rules. I recommend everyone with questions about legal applicability to their own situation consult this...
http://www.sec.gov/rules/final/2015/33-9741.pdf In short if I were a Canadian company seeking funding from the USA, I would definitely speak to my lawyer first.
As to number 2, we need boots on the ground everywhere, but we are waiting to put those boots on the ground until we have the shape of things hammered out. I personally think we need to look at adding a marketing director as soon as possible. If
anyone is interested including newmine & tonyk2, the application form involves PMing me or Alec and introducing yourself at this point.
#3, incorporating into existing ATMs. The help is totally welcome. Alec struck a deal recently for expansion in Mexico that should add several units. I'm doing my part to make sure those units integrate correctly. We're also working on a deal for exposure in the USA at the moment. Canada would be a good market into as well.
Right my focus is on adapting existing Bitcoin ATMs to add Bitshares functionality to them. If there were enough similar units from other manufacturers, I might push up the schedule. I would do this if I could ascertain that there was someone with a sincere interest in the selling of bitshares through them.
Odd you mention it though. At the moment I'm fixing an ATM. Specifically the thing on my desk in testing right now is a Skyhook, primarily because the software is already open source and I know a guy. I've talked with other MFRs and have SDK access to about 3 different makes. So it's more a matter of time than anything.
As for the opportunity for the ATM owner/operator. It's the opportunity to add a new revenue stream to your ATM business. You set your margins and buy/sell coins directly. We're working on a plan to reduce the bagholder risk while providing immediately liquidity too, but that plan needs a lot of work before it's worth discussing. So can he participate? Depends on the make and model right now. If it's a skyhook I could use help in testing. If it's not Skyhook, then PM me and we can talk. SDK availability is the biggest hold up not really technical challenges. A couple of MFRs are already in exclusive agreements with other crypto-companies, so my plan there is to work with those guys.
#4 Despite the fact I'm coding ATM software right this moment, I'm not in the ATM business. I do know that there is a distributor opportunity from the MFR we are working most closely with. So if you want to PM me your contact details I'll have them get a hold of you ASAP.
As far as us going into a bunker, it sounds like fun. Probably going to need flame proof suits by the time this thread concludes
I think I addressed everything, now if you'll excuse me the build tree on the replacement skyhook firmware just caught fire and I need to go see what's failing. I'll check back in a few hours.
Topic: gemspace -- SEC compliant platform (Read 21061 times)
