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H.R. 2930, The Entrepreneur Access to Capital Act (4 comments ↓ | 10 wiki edits: view article ↓)

  • This item is from the 112th Congress (2011-2012) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

H.R. 2930 would amend the securities laws to provide for registration exemptions for certain crowdfunded securities.

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Michael Barnard

November 10, 2011, 1:46am (report abuse)

The independent film industry has been adversely affected by the economy and technology, more than many other industries.

One symptom of this malaise is the rise of "crowdfunding," the only way many filmmakers have been able to practice their art and craft. We connect with people via crowdfunding who are willing to donate money in order to see independent films continue. It is not a profitable venture for any involved and the amounts are small.

Because of the hindrances of the broad securities regulations, crowdfunding has been only a vehicle for small donations, not large investment. This has kept the independent film industry expressive, but in turmoil and without any financial base for rebuilding its infrastructure.

This is an exciting opportunity for filmmakers to offer real equity investment to those who are interested in independent films. These people want to participate in filmmaking and are knowledgeable about its risks and rewards.

Randy Finch

November 26, 2011, 12:31am (report abuse)

HR 2930 doesn't address why even prize-winning feature length films are not paying back their investors. Without a revenue model for finished films - HR 2930 could actually hurt legitimate filmmakers. If HR 2930 becomes law 1) more economically-unjustifiable films will be made - further glutting the market and making it even harder for professional filmmakers to get a fair price for their finished films and 2) HR 2930 will attract the worst kind of con-men and grifters - ultimately making it harder for professional filmmakers to do business. Instead of championing HR 2930 (a rollback of investor protections that appeals primarily to people who don't understand the economics of professional filmmaking and crooks), low budget filmmakers should focus on developing new revenue streams for finished films. <http://bit.ly/tJp4Ou>

pat owens

November 28, 2011, 8:53pm (report abuse)

HR-2930 is none to soon, my company has been trying to raise money through a Reg-D offering to no avail. I have been offered close to a half million dollars from a large group of small investors that do not qualify under the current regs. Please pass this through as soon as possible so we can survive, and bring in the money that is available.

RICKEY GRAHAM

February 24, 2012, 5:56pm (report abuse)

Feature films, contains no equity during its post-production or production phases, so the risk factors are very great. This bill needs an RD Exemption attached, in order for any investor to have some security.

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