Post
Topic
Board Securities
Re: FeedZeBirds
by
evoorhees
on 13/01/2015, 22:09:00 UTC
"Flying private planes with convicted money-launderers".... wow.  Reality: friend has a prop plane, offered to fly Charlie and me to San Francisco from Phoenix after a payment conference. I chose to take that free transportation instead of paying $400 for a commercial ticket.  

I'm sorry I can't provide receipts for the spending of $15,000 raised... it didn't get very far. A couple months dev work, six months of web hosting, and a few grand on advertising. It got spent, the business wasn't earning significant revenue, we closed it down. And then the SEC took $15,000 more from me.  So investors are out $15k net, I'm out $15k net, and SEC is up $15k net. Again, I'd be happy to work with the SEC to transfer the $15k they got back to those who should get it - the shareholders.  That option was not permitted.

No receipts for the web hosting? Not even emails? A few grand on advertising? Where exactly did you advertise?

I understand you're frustrated with the SEC. I've dealt with them too. But the fact that you WERE fined $15k for this, even though you've retained one of the most prominent attorneys in the space, leads me to believe that you aren't disclosing everything.


It was very foolish of me not to keep receipts/emails of that stuff for obvious reasons. Those complaints against me are legitimate and I don't have a good excuse for it.  

Advertising was done on OperationFabulous, A-Ads, and I think CoinURL. A few grand will get you a month of heavy advertising in those channels... it's really not much.

When you say "you WERE fined $15k for this," it's important to define what "this" is. I was fined for failure to register the securities with the SEC. It was not a fine for fraud of any kind, nor were there accusations of fraud from the SEC. I didn't get permission from them to do what I did, and so they took money from me and made life hell for a while.