The Soho Loft
Crowdfunding and the JOBS Act
in New Jersey
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What is the JOBS Act and what are its impacts and benefits for the crowd funding scene as an alternative funding solution for technology start-ups and SMEs? This and other pertinent topics will be tackled at the special panel discussion organized by The Soho Loft Capital Creation Events for Tech Launch. Tech Launch, as New Jersey's technology accelerator with the slogan "Fund Your idea. Build Your Business. Launch Your Dreams." is in good company.
The latest developments in the legislation change, specifically what it means for the tech industry and how they can take advantage of the opportunities to help grow their businesses, will be some of the session's focus.
“Every week legislators and enforcers implementing the JOBS Act are guiding us in the direction where Small and Medium-sized Enterprises (SME) and start ups can get capital formation solutions.” says David Drake, Founder and CEO of The Soho Loft.
The Soho Loft's Founder and Chairman David Drake will moderate and present on the intricacies and unique developments in the JOBS Act that was signed into law by President Obama Last April 5, 2012 and which has spurred the dynamic growth of the Crowd Funding phenomenon in the USA. He had the privilege to witness this happen all over the nation as he worked with other thought leaders in this space in particular as one of the founding members of CFIRA (CrowdFund Intermediary Regulatory Advocates) and CfPA (Crowdfund Professional Association). Globally, he has taken great strides in partnering with various prestigious international groups for sharing of best practices in particular his being part of the delegation to the US-Europe Transatlantic Economic Council or TEC Forum in Rome and Brussels last July 10-13 with European ministers and legislators as led by the US Ambassador Miriam Sapiro.
The goal of The Soho Loft is to promote and advance crowd fund investing for start-up entrepreneurs and SMEs so they will optimize all their opportunities to grow their business, innovate their products and services and thus create more jobs for their communities. All of which creates a new path to economic prosperity for the local and global communities.
David Drake is the founder of The Soho Loft Capital Creation Event Series (“TSL”) which promotes and facilitates capital formation for the Private Company Marketplace (PCM). Mr. Drake is also the Chairman of LDJ Capital in New York City and a thought leader on the JOBS Act (Jumpstart Our Business Start-Ups Act) including, but not limited to, Reg A+, Reg D 506, Crowd Funding Capital and Onramp IPO. He is a founding executive board member of both the Crowdfund Intermediary Regulatory Advocates (CFIRA) and the leading crowdfunding global trade network, the Crowdfunding Professional Association (CfPA). He was chosen to represent the U.S. Commerce department as a JOBS Act expert delegate at the July 10 2012 meeting in Brussels and July 12-13 2012 Rome US and European Transatlantic Economic Council (TEC) forum led by Ambassador Miriam Sapiro, Deputy US Trade Representative, with European Ministers and legislators.
Panel of Speakers:
Douglas S. Ellenoff
Douglas S. Ellenoff, a member of the Firm since its founding in 1992, is a corporate and securities attorney with a specialty in business transactions and corporate financings. Mr. Ellenoff has represented public companies in connection with their initial public offerings, secondary public offerings, regulatory compliance as well as general corporate governance matters. During his career, he has represented numerous broker-dealers, venture capital investor groups and many corporations involved in the capital formation process.
Mr. Ellenoff and the rest of the corporate department distinguish themselves from many other transactional lawyers on the basis of their ability to be part of the establishment of new securities programs, like PIPEs, SPACs, Registered Directs, Reverse Mergers and CrowdFunding, where the Firm’s professionals have played leadership roles within each of those industries, assisting in the creation, formation and strategies relating to those financings, as well as working closely with the regulatory agencies; including the SEC and FINRA; and the listing exchanges – AMEX and NASDAQ. Ellenoff Grossman & Schole has been heavily involved in CrowdFunding since its inception. The Firm has sponsored conferences, webinars and has been invited to speak at different events on the topic. And recently, Mr. Ellenoff met with the SEC to discuss many aspects of the new law, how the industry currently operates and how both the SEC and FINRA will register and regulate the portals.
Ryan Feit co-founded SeedInvest because he saw the need for a better way to connect entrepreneurs and investors. On the entrepreneurial side, Ryan previously founded multiple startups. On the investor side, Ryan worked at Carlson Capital, Wellspring Capital Management and Lehman Brothers in New York City where he invested in, financed and managed dozens of private and public businesses. Ryan co-founded the Crowdfunding Professional Association and currently serves as an Executive Board Member. Ryan also serves as a Leader of the Crowdfund Intermediary Regulatory Advocates group. Whenever given the chance, Ryan enjoys traveling and has been to 75 countries. Ryan received an MBA in Entrepreneurial Management from The Wharton School of the University of Pennsylvania and a BBA in Finance and Accounting from the University of Wisconsin-Madison.
Jed is a Founder, and the Chief Operating Officer, of RocketHub.com, one of the world’s largest and most successful crowdfunding platforms. He regularly speaks at events across the nation, educating people on the fundamentals of running a successful crowdfunding campaign. In May 2012, Jed co-authored a whitepaper, entitled Regulation of Crowdfunding: Building On the Jumpstart Our Business Startups Act, which has received acclaim from both the SEC and FINRA. However, Jed’s professional career began (at the age of eight) when he took to the stage as an actor and singer. During his twenty-year career as a performer, Jed toured both nationally and internationally as a boy soprano, made his Broadway debut (at the age of fifteen) in the Tony Award winning musical The Secret Garden, and is featured as “Rod McCalister” in the hit movies Home Alone and Home Alone II: Lost in New York.
Jed is a graduate of Harvard University where he earned his degree in Astronomy & Astrophysics. He completed original research identifying optical counterparts to gamma-ray bursts, and mapping NGC4258 in neutral-Hydrogen. He lives in New York City with his wife Kate, son Zeke, and little dog Sophie.
Richard J. Salute
Richard J. Salute, CPA, is Capital Markets and SEC Practice Director with J.H. Cohn. As an expert in SEC matters, Rich has been the key accounting and finance professional in numerous initial public offerings, and has represented clients that trade securities on the New York Stock Exchange, the American Stock Exchange, the NASDAQ and other over-the-counter markets. Rich is the Office Managing Partner for J.H. Cohn’s Long Island office. He has over 35 years of audit, accounting and tax experience.
Prior to joining J.H. Cohn, Rich spent 29 years at a global accounting firm managing complex audits for both public and private companies. During his tenure there, he was responsible for providing clients with strategic planning services, as well as consultation with regard to corporate finance, mergers and acquisitions, and process evaluation. Rich’s clients included large multinational companies and entrepreneurial start ups. In addition to his client responsibilities, he started three businesses for that firm ? the Enterprise Group (New York Metropolitan area), the Technology Practice (New York office) and the Bankruptcy and Corporate Recovery Practice (nationwide).
Rich is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.
The Soho Loft Capital Creation Events ("TSL") is a global event platform that strives to promote and advance strategic and diligent mainstream and alternative investing for start-up entrepreneurs and small and medium-sized enterprises. TSL seeks to provide relevant education and visionary leadership training in the areas of capital formation, crowd funding, angel networking, non-conventional funding, eb5 green card programs, micro-finance, venture capital, private equity and hedge funds. All creative investing solutions are focused in allowing the start-ups and SMEs to optimize all opportunities to grow their business through product/service/market/human resource innovation while seeking to do so in a socially and environmentally responsible manner. All of which are directed to creating a new path to socio-economic prosperity.
David Drake, Founder and Chairman of TSL, a subsidiary of LDJ Capital, has founded the Crowdfund Intermediary Regulatory Advocates (CFIRA) towards these goals. He is also a representative of the U.S. Commerce delegation to Brussels and Rome with European Ministers and legislators at theTransatlantic Economic Council forum in July 2012. Overall, TSL's mission is to bring global awareness and develop infrastructure to facilitate the country’s capital formation, innovation and job creation. As such, The Soho Loft operates as the leading global corporate strategy adviser on financial and economic policy including, but not limited to, capital access and capital formation strategies for corporations and governments.
When & Where
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