On Friday, January 26, 2018, we¬†filed an offering statement¬†with the SEC.
Once the SEC has¬†qualified it, which¬†is taking about 4 weeks on average these days, we’ll be able to do two things.
First, we’ll be able to issue shares to shareholders.¬† And second, we’ll be able to sell shares to the general public.¬† Unlike most early stage companies, we’re allowed to sell shares to ordinary people – unaccredited investors.¬† We think the 99% can assess the rewards and risks of iConsumer for themselves.
It’s a long document.¬† Some highlights:
- We’re announcing our intention to build our own blockchain-based token (preliminarily called REWARDScoin).
- You’ll be able to buy our equity using Bitcoin.
- We’re selling our stock for $.15 per share.¬† That means that once our offering is qualified, and somebody unrelated to iConsumer invests at that price, we’ll use $.15 per share as the market value for determining how many shares of stock you receive from shopping.¬† Currently, the price we use is $.09 per share.
- It includes restated financial statements for 2016 and the first half of 2017.¬† Our auditors decided that we should be booking the balance sheet portion of the equity our members earn for shopping and referring people differently.¬† We have been booking it as a liability.¬† Now we’re booking it to the equity section.¬† The result of that is that our accounting ratios look better.