StartEngine Heralds a New Era to Lift Up a Diverse Set of Entrepreneurs, Welcomes More of America to Real Entrepreneurial Dreams
SANTA MONICA, CALIF., Jan. 29, 2015 – StartEngine Capital LLC, a wholly-owned subsidiary of StartEngine Crowdfunding, Inc., an industry-leading equity crowdfunding platform, has filed with the United States Securities and Exchange Commission (SEC) to register as a Funding Portal under Title III of the Jumpstart Our Business Startups Act of 2012 enacting equity crowdfunding. StartEngine is one of the first applicants to begin the process to become a registered Funding Portal with the SEC and, when available in February, will apply to become a member of the Financial Industry Regulatory Authority (FINRA) under the historic rules which were approved last October and will go into effect on May 16, 2016, allowing entrepreneurs to raise up to $1M per year via equity crowdfunding from all investors.
“Title III represents the next wave of investment opportunities for entrepreneurs across America, which will stimulate the economy and create jobs,” said Ron Miller, CEO of StartEngine. “The US government has helped by lowering the barrier to entry, and now we will do our part. We believe this will spur a small business revolution, empower more women and minorities and revive the American dream.”
Equity crowdfunding fuels innovation and growth by providing access to capital that can take businesses from ideas to viable products and real jobs. This new source of funding will help all entrepreneurs, but may have an especially meaningful impact for women and minorities who may otherwise struggle to secure funding through traditional means such as venture capital and angel investment. Title III marks another milestone in the rise of online financing and equal investment opportunity for all.
This post was originally produced for Forbes.
Last fall, the IPO market “fizzled” and 2016 has seen the broader market fall well into “ correction” territory (representing more than a 10% drop from the peak). That hasn’t stopped Elio Motors from raising over $16 million in a “mini-IPO” with help from StartEngine.
Elio Motors, founded by Paul Elio, is developing a sub-$7,000, three-wheeled vehicle that seats two people and gets 84 miles per gallon. Last summer, Elio “tested the waters” and found interest of over $27 million (a spokesman says the tally reached $45.6 million). With the SEC’s official sanction, Elio launched their regulation A offering, something of a cross between a traditional IPO and investment crowdfunding, just as the market began to stumble.
Elio explains that as with a traditional IPO, the shares will trade publicly, “ Shares in Elio Motors will soon become eligible to be traded on the OTCQX, the top tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. This will provide liquidity for investors who purchase stock through the Regulation A+ offering.”
“Elio Motors will close out the current Regulation A+ stock offering on Feb. 1, 2016, as one of the steps needed to allow for OTCQX trading,” he adds.
According to Elio, the funds will be used to fund engineering and testing vehicles, the “E-Series” to test “aerodynamics, durability and safety.”
Ron Miller, StartEngine’s CEO, commented on the shifts in the regulatory environment that allow for this offering to take place. “Up until recently, the majority of fundraising opportunities in North America were limited to the wealthiest 3 percent of the population – this includes both startup owners looking to grow their business as well as investors interested in pursuing progressive new financial opportunities.”
“Equity crowdfunding stands to be the biggest financial leap in a generation, allowing everyone to back the the progressive companies of tomorrow. These startups will lead to job creation and enable a new revolution in fundraising, helping everyday investors realize the modern American dream,” Miller concluded.
To learn more about the Elio Motors offering on StartEngine, follow this link.
With just a few days left in the offering window, Elio and Miller will join me here for a live discussion about it on Thursday, January 28, 2016 at 5:00 PM Eastern. Tune in here then to watch the interview live. Post questions in the comments below or tweet questions before the interview to @devindthorpe.
More about Elio Motors:
Founded by car enthusiast Paul Elio in 2009, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The three-wheeled Elio is engineered to attain a highway mileage rating of up to 84 mpg while providing the comfort of amenities such as power windows, power door lock and air conditioning accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio’s first manufacturing site will be in Shreveport, Louisiana.
More about StartEngine:
StartEngine is the premier equity crowdfunding platform, connecting Millennials and aspiring investors with tomorrow’s progressive companies. Based in Los Angeles, the company was created in 2013 by Howard Marks, co-founder of Activision, and Ron Miller. StartEngine aims to revolutionize the startup business model by helping individuals invest in private companies on a public platform, now viable for the first time in history, thereby helping entrepreneurs achieve their dreams. Learn more at http://www.startengine.com
Bio: Paul Elio graduated from General Motors Institute and the Engineering and Management Institute (now Kettering University) in Flint, MI, Magna Cum Laude with a degree in Mechanical Engineering. He began his career at Johnson Controls, the global diversified technology and industrial leader, where he developed business software and training courses for degreed engineers. He left Johnson Controls to start engineering company ESG Engineering as a founding partner. Under Elio’s guidance, ESG was issued several patents and became known for quickly moving ideas from concept to reality. In 2008, Elio led the ESG Engineering team in the development of a three-wheeled, ultra high mileage, safe, ultra low price vehicle. The project led to the creation of Elio Motors within ESG Engineering. Elio has over 18 years of engineering and executive management experience and has spent much of his time in the automotive space focused on technology development. He holds number patents related to mechanisms. Elio resides in Phoenix, Arizona where he is raising his three sons.
Ron Miller is a four time Inc. 500/5000 Award recipient and an Ernst & Young Entrepreneur of The Year Award Finalist. He has visualized, founded, built and sold five companies through management buyouts, private equity firms, private investors and public markets. Currently, Ron is the CEO of StartEngine Crowdfunding, the most successful equity crowdfunding platform to date. Ron founded the San Diego Chapter of the Entrepreneurs Organization (EO) and is also a member of WPO/YPO where he has served on the executive committee. Ron is active in the LA Mayor’s Council on Technology and Innovation, the Advisory Council of USC Greif Center for Entrepreneurial Studies and is an instructor at UCLA Anderson School of Business.
FORT COLLINS, Colorado, January 27, 2016. Community Funded (www.communityfunded.com) today announced that The College of New Jersey (www.tcnj.edu) exceeded its goals for its November 2015 Day of Giving Campaign. During the Day of Giving 759 students, faculty and alumni supporters contributed over $75,000 in just 24 hours – an 800% increase in participation over the college’s Giving Tuesday campaign the year prior.
November 5, 2015 was The College of New Jersey’s inaugural 24-hour college-wide fundraising campaign aimed at boosting support for the college and its departments. This year, alumni, students, parents, faculty, staff and friends made gifts ranging from the minimum $1 to $5000, specifically directing their contributions to one of 13 participating departments and programs, including the TCNJ Fund.
“With tremendous support from Community Funded, we were able to take the Giving Tuesday concept and turn it into an exclusive, overwhelmingly successful Day of Giving event for our college,” said Melissa Lide, associate director of annual giving. “We were able to reach new donors across the country and far surpass our goals.”
Throughout the day, volunteer advocates inspired donors to give back, share their love of TCNJ and boost their favorite department or program. In addition to heavy social media promotion there were on-campus activities to promote the Day of Giving including advertisements in the school newspaper, postcards sent to prospective supporters, a wall set up to allow the TCNJ community to share their support for the college, and radio promotions.
“We’ve worked with development offices for over four years to build the most powerful and easy-to-use crowdfunding platform on the market,” said McCabe Callahan, CEO and Co-founder of Community Funded. “Our Day of Giving module multiplies impact for colleges like TCNJ and in April we’re rolling out even more Day of Giving capabilities and new campaigns with more universities.”
More information on the TCNJ Day of Giving is at: https://dayofgiving.tcnj.edu/
About Community Funded
Community Funded (www.communityfunded.com) provides powerful yet easy-to-use crowd-fundraising solutions that help organizations achieve their development goals. We also offer education and training to ensure success. @communityfunded
FORT COLLINS, Colorado, January 27, 2016. Community Funded (www.communityfunded.com) today announced that Texas State University (http://www.txstate.edu) has chosen Community Funded’s technology platform to allow departments and programs across the campus to implement coordinated and enhanced crowd fundraising campaigns.
Located in the Texas Hill Country, where blackland prairies roll into beautiful hills, Texas State’s roughly 38,000 students choose from 97 bachelor’s, 88 master’s and 12 doctoral degree programs.
“We considered several online crowd fundraising solutions,” said Wesley Clark, Director of Annual Giving for Texas State University. “Community Funded had the range of capabilities, ease-of-use, and commitment to customer success we were seeking.”
Texas State University will use Community Funded’s crowd fundraising platform to connect current and future donors with meaningful funding opportunities.
“We’re very excited to be partnering with Texas State University,” said McCabe Callahan, Co-Founder and CEO of Community Funded. “Our whole company is obsessed with building successful crowd fundraising campaigns and we’re eager to bring our expertise and technology to drive success for Texas State University.”
About Community Funded
Community Funded (www.communityfunded.com) provides powerful yet easy-to-use crowd-fundraising solutions that help organizations achieve their development goals. We also offer education and training to ensure success. @communityfunded
UK-based companies can now reach a wider audience of global angel investors and accelerate the investment deal flow process through online tools
26 January 2016 – CAMBRIDGE, UK – Gust, the online platform powering the entrepreneurial ecosystem, and SyndicateRoom, the UK-based equity crowdfunding platform, announce their collaboration to launch a new service accelerating early-stage investments. Now, UK-based companies on Gust and SyndicateRoom can push their investment opportunities to investors across both platforms, streamlining the entire process. Gust is the world’s largest global network of early-stage investors and founders, and SyndicateRoom is the UK’s only investor-led equity crowdfunding platform, recently named Best Crowdfunding Platform 2015.
“The United Kingdom is a hotbed of early-stage investment opportunities. As with other global innovation centers in the world, it is our goal to get innovative companies funded,” said David S. Rose, CEO of Gust. “Through our collaboration, investors on SyndicateRoom and Gust now have access to highly vetted angel deals, and Gust and SyndicateRoom founders can close deals faster by syndicating across both platforms. By closing more quickly, angel groups can source better deals and founders of early-stage companies can spend less time on fundraising and more time on growing their business.”
The service will provide Gust and SyndicateRoom members outside of the U.S. and Canada with access to highly exclusive deal flow from the world’s leading angel groups. Early-stage companies will accelerate their fundraising by syndicating their opportunity to individual investors on both the Gust and SyndicateRoom platforms, closing investment rounds in a matter of weeks instead of months.
“Our partnership with Gust is based around a shared mission, which is to unite investors with entrepreneurs, to close an ever-growing number of investment rounds and to democratise access to investment in exciting growth businesses,” said Gonçalo de Vasconcelos, CEO and Co-founder of SyndicateRoom. “Our unique investor-led model is given a boost with access to new opportunities from the world’s leading angel groups, while our investors will be excited by this unprecedented deal flow.”
The collaboration builds on Gust’s unparalleled reach into the global angel investment community and SyndicateRoom’s investor-led equity crowdfunding platform.
Gust is a global organization dedicated to empowering the entrepreneurial ecosystem. Gust’s suite of products and services enables connections, illuminates opportunities, and fosters meaningful collaboration for founders, investors, and all ecosystem players. As the world’s largest community of entrepreneurs and early stage investors from 190 countries, Gust is the official platform of the world’s leading national and international angel investor federations, including those in North America, South America, Europe, Africa and the Asia-Pacific region. More than 300,000 startups have already used the platform to connect and collaborate with over 80,000 investment professionals. For more information, please visit www.gust.com, or explore Gust’s most recent local ecosystem launches at Digital.NYC, Tech.London, or StartHub.org.
SyndicateRoom is the only UK-based investor-led equity crowdfunding platform. SyndicateRoom allows its members to co-invest alongside experienced angel investors in highly sophisticated investment opportunities, while enjoying the same share class and same price per share as the lead investors.
SyndicateRoom was founded by Gonçalo de Vasconcelos and Tom Britton, and its own lead investors and advisers are UK Business Angel of the Year Peter Cowley and super-angel Jonathan Milner. SyndicateRoom is authorised and regulated by the Financial Conduct Authority. www.syndicateroom.com
A new series of reports, published this week, reveals that Kickstarter-style rewards crowdfunding is now a global phenomenon providing seed-funding to entrepreneurs across 222 countries and creating an unprecedented ongoing wave of innovation.
The “2016: State of the Crowdfunding Nation” report kicks off a new quarterly series of annual and quarterly reports available from TheCrowdfundingCentre.com on global innovation with a slew of annual and quarterly reports covering 2014 and 2015 as well as ten countries, across 40 different sectors.
While the Technology sector has the highest average pledge and so raises the most, it lags behind Music, Film, Publishing, Art and Design in sixth place overall.
“Rewards Crowdfunding is now the new seed-funding” commented Barry E James, Founder of TheCrowdDataCenter as well as TheCrowdfundingCentre “It’s transforming innovation by transforming the prospects of entrepreneurs across the world, who have been excluded until now. Thus creating an unprecedented ongoing wave of innovation that shows no sign of letting up – quite the reverse. Over the last year it’s settled into a steady rate of growth of around 25%”.
From a high base, created by rapid growth in 2014, rewards Crowdfunding grew over the last year in excess of 25% – 27% as measured by amount raised – with participation (the numbers of pledges) increasing significantly (12%) while the success rate fell by 2% as publicity attracted those less prepared for the process.
Number of Projects launched on major platforms increased slightly (2%) while the numbers of projects (fixed model) exceeding target fell by 9%. 4% fewer ‘Flex’ campaigns raised money. Overall contributions increased by 40% and average pledges by 11% with the average number of backers per project also up 12%.
Total funding is estimated at over $1Billion with more than $820Million from just the two top platforms, Kickstarter ($590m) and Indiegogo ($233M). The worldwide total is estimated to be in excess of $1.6Billion – and could be as high as double that given the known high levels of additional activity in China and other non-English speaking territories. In addition to off-platform funding, such as $100m to Star Citizen alone.
Fixing Seed Funding and Deal-Flow?
The report finds that rewards crowdfunding is “The New Seed Funding” and that it is at least as significant as the larger numbers claimed for equity crowdfunding – set to surpass VC funding in 2016 (which itself is estimated to provide about $30Bn annually). The report point out that viewed as seed-funding rewards is 10x more valuable to entrepreneurship and the economy than the equivalent amount in angel and VC funding because the funding ask of angels and VCs is two or three orders of magnitude (ie 10 to 100 times) more than at seed stage. This is “not unlike addressing the ‘First Time Buyer’ problem in the housing market” it says.
“What this new data is telling us is that rewards crowdfunding’s growth is sustained and at a high enough level to be making a significant impact on the mainstream economy, especially entrepreneurship and innovation. Seed-funding has always been an important but difficult, and so under-served, market. Feeding as it does ‘upstream’ investment. The structural difficulties, exacerbated by the financial and banking crisis, have become worse but it looks very much as if rewards crowdfunding is now providing a real alternative” commented Dr Richard Swart of UC Berkeley
“ This represents serious capital injected into an economy that will have a lasting impact” commented Sherwood Neiss, Partner, Crowdfund Capital Advisors & one of the architects of the USA’s JOBS act.
The “State of the Crowdfunding Nation” report is released Tuesday and information is available at TheCrowdfundingCentre.com/report.
CFX Markets, the secondary market for crowdfunding assets, announced today the addition of real estate crowdfunding platform Earlyshares to its online network. EarlyShares will allow its investors to list shares on the CFX secondary market, subject to SEC resale restrictions.
“We’ve always believed that the crowdfunding industry needs an industry-wide secondary market to achieve its full potential, and the addition of EarlyShares to CFX Markets is a big step in that direction,” said CFX Markets Managing Director Juan Hernandez. “EarlyShares has become one of the leading real estate crowdfunding platforms in the industry, and we’re thrilled to welcome them to CFX.”
EarlyShares co-founder and Chief Strategy Officer Heather Schwarz added that “We’re excited about the development of a secondary market for crowdfunding investments, the next step in full investor flexibility, and we look forward to providing our investors with that flexibility through CFX. As investment crowdfunding grows, liquidity is only going to become more important, and we at EarlyShares are excited about being able to offer the option of liquidity to our investors.”
CFX Markets allows investors to buy and sell shares of crowdfunding investments from other participants in the market. Investors simply sign up for a free CFX account and authenticate their identity on the CFX platform. CFX then automatically pulls updated data from the partner portal, and sellers indicate the price that they’d like to sell an asset for (an offer, or “ask”).
Interested buyers can review listed assets and offers, along with historical financial data on each asset, before posting bids to buy listed assets. Nearly two dozen crowdfunding platforms have already joined CFX Markets and have made their investment offerings available for resale on CFX, including PeerRealty, American Homeowner Preservation, CrowdFranchise, and PropertyStake.
The CFX platform is currently in invitation-only mode. Investors interested in buying or selling shares of crowdfunding assets may request access at CFXinvesting.com. Crowdfunding portals interested in listing their investment offerings on CFX Markets may contact CFX at email@example.com for more information.
About CFX Markets
CFX Markets is the secondary market for crowdfunding assets. CFX provides an open and secure network to facilitate secondary market transfers of private securities in alternative asset classes. The CFX platform brings the option of liquidity to the 8.7 Million accredited investors who invest nationwide in the crowdfunding industry. The secure online market connects various leading crowdfunding portals across the industry. For more information, visit CFXinvesting.com.
EarlyShares is the trusted real estate crowdfunding platform that gives accredited investors direct access to vetted, return driven investments in commercial real estate. Under new securities regulations, EarlyShares streamlines the processes of real estate investing and capital raising to make them more accessible, transparent, and data-driven. Thousands of investors are seeking to invest nearly $300 million on EarlyShares in the next 12 months. Last year, EarlyShares was ranked as a top 10 real estate crowdfunding platform in a detailed survey and review conducted by TheRealEstateCrowdfundingReview.com. For more information or to join the ‘Future of Investing,’ visit EarlyShares.com.
SANTA MONICA, CA, Jan. 22, 2016 /PRNewswire/ – In a first for the cleantech automotive industry, Dubuc Motors will launch its electric supercar, the Tomahawk, on an equity crowdfunding platform, StartEngine. Dubuc Motors, a spirited and respected startup, will unveil a world’s first with a 2+2 all-electric supercar offering an extended range.
The launch comes at a time of exciting growth in the electric vehicle market. The total EV market, including plugins, hybrids and other electric vehicles, is expected to jump from 2.6 million vehicles sold in 2015 to more than six million vehicles by 2024. The total sales of plugin electric vehicles alone were expected to reach one million in the United States during the same period, according to hybridcars.com and navigantresearch.com.
Already boasting accolades and recognition internationally, Dubuc Motors has arrived to “complete the Tesla line” and the electric vehicle market.
“Nearly 15 years ago, we decided to combine our automotive passion with a stubborn belief that a cleaner and more viable way of producing cars was possible. Our commitment and dedication through exhaustive R&D and numerous prototypes have led us here today. The Tomahawk embodies ingenuity and furthermore is a great vehicle to drive and promote our engagement towards sustainable development”, said Mike Kakogiannakis, co-founder of Dubuc Motors.
“A dual revolution is now underway in the worlds of both transportation and entrepreneurship,” said Ron Miller, CEO at StartEngine. “Equity crowdfunding is fueling innovation, enabling investors across America to support progressive companies like Dubuc Motors at a ground floor level.”
Beginning on January 22, investors will learn about an opportunity to become part of EV history when Dubuc tests the waters with a funding campaign on the StartEngine equity crowdfunding platform.
View the Dubuc Motors video: https://www.startengine.com/startup/dubuc-motors
In just three years’ time, the Belgian start-up MyMicroInvest has become the largest crowdfunding platform in Belgium. The organisation is now ready to take the leap and expand internationally into Europe.
What is Crowdfunding?
Crowdfunding is a form of alternative finance, whereby a project or venture is funded with small amounts of money, of 100 euros or more, from (a large group of) private individuals. Sometimes start-ups or young entrepreneurs find it difficult to obtain funding through the traditional channels. Crowdfunding allows them to raise the funding they need for their growth plans.
There are two types of Crowdfunding. Under the non-financial or donation model, the public lends its support to creative, artistic or charity projects without expecting a financial return. Well-known platforms include Kickstarter and KissKissBankBank. Financial crowdfunding allows the public to collectively invest in start-ups or small enterprises. In this model, we distinguish between Equity Crowdfunding (invest in exchange for shares) and Loan Crowdfunding (lend in exchange for fixed returns, i.e. interest).
While crowdfunding as a way of publicly raising funds has been in existence for quite some time, the modern Crowdfunding boom started in 2008, as a result of a combination of a number of factors. On the one hand, there was the development of the Internet with its improved functionality and the emergence of social media. On the other hand, the financial crisis prompted investors to look at alternatives.
Crowdfunding in Belgium
Crowdfunding as such is a very recent phenomenon but it is growing at a very fast pace. It is estimated that in 2015 alone 16 billion euros were raised through Crowdfunding. The Belgian market is estimated to be worth 5 to 6 million, of which 40% was raised through MyMicroInvest.
To the best of our knowledge, the Belgium Top 3 by:
– Budget raised
– Number of members
– Number of projects
MyMicroInvest develops a funding model for selected projects, which consists of a combination of professional investments on the one hand and crowdfunding on the other. Consequently, it can offer private individuals a unique opportunity to invest in risk capital, along with professional investors and business angels, enjoying the same conditions and allowing them to diversify their investment portfolio.
MyMicroInvest has more than 31,000 members. Since its inception in July 2011, the platform has already raised over 15 million euros for 42 different projects.
In November 2013, MyMicroInvest raised a capital of 1.3 million euros for Newsmonkey, the new, young and somewhat rebellious (Dutch-language) news website. It was the largest equity crowdfunding transaction in Europe at the time, with no fewer than 1,487 private investors subscribing (along with professional investors).
2. Domobios: Acar’Up
In June 2015, the Brussels company Acar’Up SPRL raised 100,000 euros in just 18 minutes’ time for “Acar’up”, their natural product to combat dust mites. The crowdfunding campaign also offered them a unique opportunity for community marketing. The users of their product also became brand ambassadors.
A top-notch medical project involving the Life Observer Mobile of the Walloon company 2-Observe. Their concept monitors the respiratory movements of patients in hospitals and nursing homes and informs nursing staff in case of problems. Fifty crowd investors raised 155,000 euros, together with a few business angels, so the concept could be further developed.
4. The Green Link
The Green Link is a Paris-based parcel-delivery service, which offers company an energy-friendly solution for the “last mile” in their delivery chain. The Green Link also wants to play a social role, caring for the elderly who are unable to leave their homes. MyMicroInvest raised an investment of 99,500 euros through Crowdfunding (5-year loan).
MyMicroInvest is a very fast-growing player in a fast-growing market. The platform currently employs 24 people. The MyMicroInvest platform has been adapted on the legal and technical level to fulfil the European legal conditions in force, so investment projects can be launched outside of Belgium at an affordable cost.
The combination of both these factors enable MyMicroInvest to develop activities in five new European countries, namely Poland, Switzerland, Italy, France and the Netherlands (check the prospectus for the financial perspectives).
To date, MyMicroInvest has already raised a capital of 3 million euros for its European expansion. This budget will be supplemented with Crowdfunding – MyMicroInvest’s DNA.
MyMicroInvest has chosen a specific type of Crowdfunding for its own campaign, namely “live” Crowdfunding. The funding is raised by interested investors, within a limited time frame, during an event, which is filmed and broadcast live through the Internet. This allows the attendees and Internet users to follow the event, participate in the Q&A and invest “live” in the proposed project. Live Crowdfunding creates a new way of investing, which gathers entrepreneur(s) and investors during a unique and hyper-interactive event. MyMicroInvest hopes to raise a record amount of 1 million euros during the Live Crowdfunding event on 20 January 2016.
Investors in the U.S. and Globally Have 30 Days to Purchase Stock
DENVER, Colo., Jan. 20, 2016 — XTI Aircraft Company (XTI) today launched a formal stock offering and is accepting investments to support development of the revolutionary new TriFan 600 aircraft. This 30-day opportunity to invest is not only open to those who have expressed interest in investing in the company, but to all investors around the globe. Shares in XTI may be purchased at www.startengine.com/startup/xti.
The announcement immediately followed today’s qualification of XTI’s offering statement from the U.S. Securities and Exchange Commission (SEC) under Regulation A+. XTI’s crowdfunding campaign is one of the first ever to move from testing the waters to a live offering. XTI is offering a unique opportunity for the general public to invest in an exciting aerospace company with a game-changing product, a world-class leadership team, and significant growth potential.
“This is a limited-time opportunity to join all of us on the XTI leadership team as shareholders,” said XTI’s Executive Vice Chairman Jeff Pino. “We’re on track to make this aircraft a reality. We understand the risks, but we also know that the potential return is very strong. We couldn’t be more excited.”
Since last August, more than 2,000 potential investors expressed $19 million in interest to develop the six-seat fixed-wing airplane that combines the speed, range and comfort of a business jet with the ability to take off and land like a helicopter.
“The TriFan 600 has captured the imagination of large and small investors,” said XTI founder and Chairman David Brody. “They’re impressed by the aircraft’s potential to revolutionize air travel and by the company’s leadership team.”
The TriFan 600 would become the first commercial high-speed, long-range vertical takeoff and landing (VTOL) airplane to provide true door-to-door travel. Conceptual engineering of the aircraft has been completed and has been validated by an independent team of technical experts. Plans call for completion of a flying concept demonstrator prototype in three years.
In December, the TriFan 600 earned the prestigious “Best of What’s New” award from Popular Science, which recognized the aircraft as one of 2015’s greatest innovations and a revolution in its field. Also in 2015, the U.S. Patent and Trade Office issued XTI its first patent, as an entirely new airplane design and configuration.
XTI Aircraft Company is a privately owned aviation business based in Denver. XTI is guided by a leadership team with decades of experience, a deep well of expertise, and success bringing new aircraft to market. XTI is founded on a culture of customer-focused problem solving to meet the evolving needs of modern travelers.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. YOU MAY OBTAIN A COPY OF THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT FROM http://www.sec.gov/Archives/edgar/data/1638850/000164460015000027/offeringc
YOU SHOULD READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT.
THIS PRESS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.