In This Presentation:

- Crowdfunding - SEC Rules are Out - now what?

..JOBS Act Overview

..Crowdfunding background

..Backdrop: Current Crowdfunding Landscape – Five* Varieties

..Public Equity Crowdfunding

..Public Crowdfunding vs. Other Exemptions

- Peer-to-Peer Lending:

..Peer-to-Peer Lending

..In Philadelphia, it’s worth 50 bucks...

..What’s Going On Here?

..Top Legal issues in Peer-to-Peer

..States Cannot Agree on Legality

..State Consequences

..Securities Law Issues

..Example: SEC Prospectus Filed 3-4 Times Per Day

..Peer-to-Peer: On the horizon...

- Your Questions Answered

- Excerpt from JOBS Act Overview:

- Crowdfunding – online fundraising…but there’s a catch

- Regulation A+ - from $5mm to $50 mm

- Private Placement Reforms

..General Solicitation relaxed – effective Sept. 23

..Enhanced verification of Accredited Investors if Soliciting...