2 years, 3 months ago
Is SharesPost, http://www.sharespost.com, legit or is it a scam? It just seems fishy that people can sell shares of a privately held company
Separate topics with commas, or by pressing return. Use the delete or backspace key to edit or remove existing topics.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$1 Answer
SharesPost.com is entirely legit and legal. The site has helped numerous users connect to buy and sell literally millions of dollars with of stock.
Using SharesPost, Buyers and Sellers can generally make use of a Section 4(1) exemption, and in some cases, Rule 144. Supporting such an exemption is the fact that only SharesPost members with a password protected account are able to participate in postings, only accredited investors can be SharesPost Buyers, and only sellers holding their shares for at least a year can be SharesPost Sellers.
SharesPost is a “passive bulletin board” that enables its members to post and manage information about potential sales and provides sample forms of contracts that members may use to transact should they choose to do so. SharesPost members can review these posted sample forms of contracts and, if they meet certain legal and financial criteria, use a third party service to electronically execute them off of the SharesPost website. Any resulting transaction is managed by a licensed, third party escrow company. SharesPost takes no commission or success-based compensation in connection with such transaction, nor does SharesPost handle the securities or sales proceeds at anytime. SharesPost does not purchase or hold any shares of companies listed on the site. SharesPost does not give any investment advice or opinion as to the value of any shares. Accordingly, SharesPost has not registered with the SEC or any government authority as a broker dealer or an exchange at this time.
Using SharesPost, Buyers and Sellers can generally make use of a Section 4(1) exemption, and in some cases, Rule 144. Supporting such an exemption is the fact that only SharesPost members with a password protected account are able to participate in postings, only accredited investors can be SharesPost Buyers, and only sellers holding their shares for at least a year can be SharesPost Sellers.
SharesPost is a “passive bulletin board” that enables its members to post and manage information about potential sales and provides sample forms of contracts that members may use to transact should they choose to do so. SharesPost members can review these posted sample forms of contracts and, if they meet certain legal and financial criteria, use a third party service to electronically execute them off of the SharesPost website. Any resulting transaction is managed by a licensed, third party escrow company. SharesPost takes no commission or success-based compensation in connection with such transaction, nor does SharesPost handle the securities or sales proceeds at anytime. SharesPost does not purchase or hold any shares of companies listed on the site. SharesPost does not give any investment advice or opinion as to the value of any shares. Accordingly, SharesPost has not registered with the SEC or any government authority as a broker dealer or an exchange at this time.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$Report Abuse
