So far so good… http://sharkback.com
Archive for March, 2012
The JOBS (Jumpstart Our Business Startups) Act that passed in the House today contains some big changes for crowdfunding startups. It now moves on to the Senate.
Right now, its illegal for a startup to solicit investors on platforms like Twitter or Kickstarter. But the JOBS Act would change that. For startups raising $1 million or less, anyone can now buy up to $10,000 or 10 percent of the annual income (whichever is less) in equity
IPO filings of the Securities and Exchange Act of 1934 which said that any company with more than 500 shareholders has to open its financials to the SEC like a public company. But under the JOBS Act, anyone who gives $10,000 or less will not count toward this limit. The act also raises the shareholder limit from 500 to 1,000.
Startups can opt to raise as much as $2 million in this manner; but if they go the crowdfunding route, they will have to provide audited financial statements to their investors. There are some drawbacks for startups. Here are some highlights:
- First, startups must understand that minority stockholders have certain significant rights under state law, including voting rights, the right to inspect the companys books and records, the right to bring a derivative claim on behalf of the company, and certain protections against oppression by the controlling stockholders. Indeed, the more stockholders a startup has, the greater the likelihood that a disgruntled stockholder will cause problems, including filing lawsuits.
- Second, having hundreds of stockholders is an administrative nightmare and will be time consuming and costly. Presumably, each stockholder will be required to execute a subscription agreement and/or stockholders agreement to address key issues such as transfer restrictions, rights of first refusal, and drag-along rights. There will also be administrative issues relating to voting and stock transfer issues.
- Third, startups will likely have difficulty raising funds from VCs and other sophisticated investors if they have hundreds of unsophisticated stockholders. Needless to say, few sophisticated investors will want to sit on the board of directors of such a company due to the risks of lawsuits relating to director liability, and I would assume D&O liability insurance rates will skyrocket for these companies.
The JOBS Act also makes it easier for small companies to go public by increasing the offering threshold for companies exemepted from SEC regulation from $5 to $50 million on companies. Additional regulations will be phased in over a five-year period for companies that stay under $1 billion in revenue.
Pharmacy benefits management vendor changed to Prime Therapeutics. Extended (90 day supply) requires members to visit bcbsnc.com for a listing. Use your current card until March 31 and the new one April 1 2012. Billing moved from 15th of month to 1st of month.
These high power Galium Nitride edge devices are bright!
As much as I don’t like Cree (I have hired many ex-Cree engineers who were very unhappy, but some of the most talented engineers in the semiconductor business) they have a profitable (lucrative) manufacturing process and are SECURELYpatented.
1,598 family groups, 2,267 patent records in the above link
The Japanese are not far behind, but they are behind.
For the record, I have tried many LED indoor bulbs of different temperature (color) and prefer the Honeywell dimmable bulbs.
I use my Thermalball almost every day for my muscles and arthritis and degenerative bone disease, sometimes hot and sometimes cold. I would like 3 large Thermalballs in a canvas sack, but I have to admit a ball is pretty easy to use on its own.
Gee, maybe you should take a look at this and get your product a seal of approval from 8 scientists…is this is an intelligence test or what?
The Arthritis Foundation created the Ease-of-Use Commendation Program to encourage manufacturers to design user-friendly products and packaging that could be recommended to the millions of people living with arthritis.
How are products tested?
The process begins with the manufacturer, who submits a product to the Arthritis Foundation seeking expert evaluation of its product. At the GTRI lab, scientists experienced in the design and evaluation of products conduct tests to find out if the products is easy to use for someone with arthritis. The answer results from a three-step testing process.
- Each product is evaluated by a team of scientists, who test the product against a number of pass or fail requirements specific to the type of product under evaluation. For example, how easy it is to open a medicine bottle or to operate a stationary bike?
- Then the scientists assess and establish user tasks based on every manner in which someone with arthritis might use the product, from the point at which the product is removed from the packaging yes, the package itself is evaluated through multiple uses.
- Finally, a team of eight testers who have moderate-to-severe arthritis are evaluated for grip, torque and muscle strength, endurance, pinch force and range of motion. The testers then get to open and use the product, and then each tester is interviewed by the team of scientists.
We try to be as objective as possible. I rarely ask if a tester likes the product or not, because thats not the issue, says Brad Fain, PhD, senior research scientist at GTRI. I want to know if its easy to use.
How do products earn the Ease-of-Use seal?
To garner a favorable grade from GTRI and become eligible for the Arthritis Foundations Ease-of-Use Commendation, a product must meet the following criteria:
- A pass rating on all the checklist evaluation items, at least five or eight testers must be able to use it with little or no difficulty; and
- No more than one of eight testers should experience great difficulty using the product.
Yes, you read that right; these are street legal.
They run on either Kawasaki or Honda motorcycle engines and co-opt vintage bumper car bodies into the most awesome form of mini-car. There are seven of these little monsters floating around California and they’re all the creation of one man, Tom Wright, a builder in the outskirts of San Diego who figured the leftovers of the Long Beach Pike amusement park needed a more dignified end than the trash heap.
They were originally powered by two cylinder Harley Davidson Motorcycle engines but they vibrated.
Tom replaced them with four cylinder Honda or Kawasaki 750′s capable of 160 MPH, which is terrifyingly fast in machines with such a short wheelbase.
Self: Positive affirmation – I am smart!
world: the economy is weak, jobs are hard to come by
You: Can get as free as free money gets by investing your time by writing precise answers to topics that the (DOD) Department of Defense is interested in.
Four times a year a list of topics is solicited by the government for written phase one proposals. These proposals range from 20 to 40 pages and are not simple to write (usually requiring advanced engineering degrees) as few acceptable solutions exist. This is an entrepreneur’s dream! Written reports and follow-up progress reports can yield up to 60+% for the business owner/inventor. Awards can be up to $100K and matched at 30% from the state of North Carolina. Phase 2 awards, if invited are up to 1.5 million dollars over 3 years. I am currently waiting on an invitation for a Phase II. I know it is hard, but it can be done. We submitted underwater GPS algorithms for divers using portable communicating lasers!
Here are my bookmarks: