Nearly all the companies submitting business plan at Silicon
Alley Entrepreneurs Club (SAEC) are privately owned. If you
are to invest in them, you will probably have to purchase
unregistered stock. This stock cannot be sold on any public
market but can only be bought or sold privately. As a result,
the owner may end up holding the stock for a long, long time
and may even lose all of his or her investment.
In order to protect unwary investors, the Securities and
Exchange Commission limits the purchase of private stock to
"sophisticated" or "accredited" investors.
The SEC defines a sophisticated investor as a private individual
who, with his or her spouse, either: a) has a net worth of
at least $1 million, or 2) has had an income of at least $200,000
for the past two consecutive years.
Although Silicon Alley Entrepreneurs Club (SAEC) is not offering
stock for sale, we are limiting the viewing or receiving by
mail of executive summaries and business plans to SEC-accredited
investors. This will require you to make a declaration of
your income and net worth. If you do not have a net worth
of $1 million or income of $200,000 for two consecutive years,
you should not write/register as an investor. You are legally
responsible for the truth of this declaration.
SEC Laws and regulations will change over time and you are
responsible to keep up to date with those changes and make
sure that you still qualify to be a "sophisticated"
or "accredited investors" as long as you are participating
in viewing/receiving business plans from Silicon Alley Entrepreneurs
By writing to SAEC to view or receive executive summaries
or business plans by mail or email you are declaring yourself
as an investor.
By declaring yourself as an investor you agree that:
You and your spouse have a net worth of more than $1 million.
You and your spouse have had a combined income of more than
$200,000 for the past two consecutive years.
Join the Silicon Alley Entrepreneurs Club's (SAEC) Investor
Consortium and help the entrepreneurs of Silicon Alley.
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