How does truCrowd Florida prevent fraud?
Last Updated: Jan 04, 2016 23:04

Office of Financial Regulation requires all entrepreneurs raising money through truCrowd Florida must claim an exemption from registration by filing a Form, post summaries of their offerings and offering disclosures on at least 21 days before launch of the campaign. The offering disclosures should include risk factors, a description of the business, operations, and management and other information.

Moreover, Office of Financial Regulation also requires all communications between entrepreneurs and investors must occur on truCrowd Florida through open message boards.
Other than these, on our platform, all entrepreneurs must provide certain  self-disclosure items, including:

1. Financial condition of the entrepreneur: a description of the financial condition of the startup
  • The income tax returns filed by the startup for the most recent completed year (if any)
  • Financial statements of the startup

2. Entrepreneur background checks including personal background, experience and credibility information

3. Key business information including:
  • A description of the company’s ownership and capital structure
  • Market opportunity analysis
  • Business plan development
  • Online (social) and offline presence development
  • Pro-active due diligence
  • Start-up valuation
  • A description of the uses of funds

4. Fundraising target amount and deadline

5. The price of the securities being offered
We follow all guidelines provided by the SEC, Title III and The Florida Intrastate Crowdfunding Exemption to ensure the true identity of all entrepreneur accounts and offerings.

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