Does your machine happen to look anything like this (minus the magnetics of course):
Posted on 09/15/2014 1:09:08 PM PDT by lafroste
Does anyone here have any experience with crowd funding? In order to finish the development of my new product, I need to raise approximately $65,000 to finish, prototype, and produce an initial product run of 100 units. I have already built the entire machine, minus the magnetics necessary to power it. I would like to try crowdfunding since I cannot find any other venues for funding. Does anyone have suggestions or experiences with this strategy? Thanks for any advice received!
I sold carbon credits for 1/2 price off. Cash only.
I’m not familiar with Crowd Funding. It feels like posting on FR to ask for people how they would go about getting some donatations to finish a big business opportunity might be a type of crowd funding.
Some inventors and entrapenuers, especially when they are absolutely positive about the returns, go to the bank and get a loan.
Easy.
Post a Crowd Funding plea claiming that you are in need of cash to get an abortion, get Gay Married, adopt a baby with your same sex spouse and have said baby baptized in the Church of Satan.
The cash will roll in.
You’re at the most cynical website on the internets.......
good luck. LOL.
Seems to me like crowdfunding would run afoul of U.S. Security laws.
From Cambridge,Madison and San Francisco.
Have you tried all local/state venture capital type groups available? SBA?
” the magnetics necessary to power it. “
Don’t take any Saudi Money, you may end up beside yourself...
Literally, your head may end up alonside your body as in side by side after it is detached....
Sounds like you are talking about a “free energy device” here.....
BEWARE, Beware!!!!
Please read: “Let There Be Light” by Robert Heinlein.
http://en.wikipedia.org/wiki/Let_There_Be_Light_(short_story)
Thank you very much for the link. It’s a fascinating article, and I learned some things from it.
FR isn’t cynical! It’s truth! I should know, I’ve been here quite a while (14 years).
I'm thinking of crowd funding a project myself, and have looked closely at the Kickstarter model. There, people post projects with funding goals. If fans of a project pledge enough to meet the funding goal, then the money flows to the project owner. If the funding goal is not met, then the contributors keep their money. This prevents projects from proceeding with funds that even the project owner thinks are insufficient. It's important to keep your contributors informed throughout the project so they realize you tried your darnedest even if you failed, and you didn't just run off with the money.
In order to attract money, the project owner offers rewards, depending on the amount of the contribution. The rewards cannot be equity (or the SEC gets involved) and they cannot be cash (per Kickstarter rules). The typical rewards are recognition at the lowest levels and priority access to the product at higher levels. For example, if someone is putting a new electronic watch into production (the Pebble watch was funded through Kickstarter), you might get gratitude for a $25 contribution, but you might get an actual watch for a $200 contribution, once the watches are in production.
As with older forms of investment, early contributions typically come from friends and family, who want you to succeed even if they don't necessarily want your product. Later contributions depend on your ability to market your project and your product.
Kickstarter contributions are more like NPR donations than they are regular investments. You put up money to watch the project happen, but -- unlike NPR -- you take a chance on whether you get the premium or not. Kickstarter project owners are "legally obligated" to come through on the premium offers, but there's no formal enforcement mechanism.
I had that same thought. A Sub s corp is limited to the number of shareholders. However, if no equity ownership is offered then I don’t think the SEC would care.
Good Lord! It is not a “free energy” device by any stretch of the imagination. “Magnetics” simply refers to various types of transformers, which are magnetic devices.
Give it up. If its successful Obama will take it away saying, “You didn’t build that” or if it fails a lot of innocent capital will be wasted. Just slink back in to subservience to the all knowing, all powerful bureaucratic machine in Washington and await your chocolate ration like everyone else./sarc
I have in the past. SBA is out because I don’t have a saleable product yet. I found some VCs when this venture started and was able to finish most of the device design, including lots of unique custom parts, and all that works fine. But when my original magnetics designer screwed me, they blamed me and things got ugly.
Does your machine happen to look anything like this (minus the magnetics of course):
[ Good Lord! It is not a “free energy” device by any stretch of the imagination. “Magnetics” simply refers to various types of transformers, which are magnetic devices. ]
Sorry, I jumped to some conclusions, “magnetics” is a trigger word for me when talking about “power related” devices....
You looking for a loan or a gift?
If a loan, what do you have as collateral?
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