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Rod Turner
Rod Turner is the founder and CEO of Manhattan Street Capital, the #1 Growth Capital service for mature startups and mid-sized companies to raise capital using Regulation A+. Turner has played a key role in building successful companies including Symantec/Norton (SYMC), Ashton Tate, MicroPort, Knowledge Adventure, and more. He is an experienced investor who has built a Venture Capital business (Irvine Ventures) and has made angel and mezzanine investments in companies such as Bloom, Amyris (AMRS), Ask Jeeves, and eASIC.
www.ManhattanStreetCapital.com
Manhattan Street Capital, 5694 Mission Center Rd, Suite 602-468, San Diego, CA 92108.
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So I'll touch briefly on the schedule for Regulation A+ and then I'll get back into marketing and appeal kind of characteristics. So typically it takes a couple of months to prepare the filing documents. The, the critical path item is the audit for companies that have existed and have complex financial statements. Getting the audit done is the most time consuming issue.
For new entities, probably the majority of charge e p T entities are pretty new. In that case, if you've only existed for six months, then an audit is gonna be simpler to produce, right? The, the audit only needs to go back as long as the company has existed. So two months to prepare is with diligent, with diligent approach and with relatively straightforward audit. Two months to prepare then far with the SEC two months to get through the SEC is, is reasonable well when it's well prepared. So four months to be qualified and then you have go, go live in with marketing in month five and you have 12 months or up to three years with which to, to market your rates. And again, you can tail it early, you can end it early at any time. Yeah.
Okay. I've touched, touched on the big picture items there from a schedule standpoint, I think perhaps the other most important thing from schedule perspective is that just because you went live, let's say, you know, this is Thursday, let's say you went live on Tuesday, the ads that you are running right now this week are test ads spending on a low budget with different test messaging and even potentially two or three different landing pages with different leading messages to see what, what is working best and with different target audiences involved. A lot of experimentation at the early stage. So you don't raise mega bucks in the first weeks and you don't spend mega bucks either. And you can with digital advertising, as you probably all fully aware, you can adjust it as you go on a rapid basis and you need to in order to tune it and make it work effectively.
So you don't, you don't benefit in a Regulation A+ context by getting impatient to try to raise all the money in three months. It costs an awful lot more to do that. So normally what you do is you maximize efficiency of marketing outreach and, and as you do so, you step up and spend so that the rate of of capital formation accelerates increases during the year or longer, whatever the period is. But if you wanna raise $40 million, don't expect to raise it in three months unless you've already got a humongous audience of people or a large member base. I was talking to a company two days ago that has is in the gaming business and they have a relatively new gaming platform with 5 million members. So obviously the ability to provide opportunities for those 5 million members to invest can accelerate their rate of for capital formation, can't it?
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