NEW YORK, NY — (Marketwired) — 11/03/15 — EFactor Group Corp. (OTCQB: EFCT) (“EFactor Group”, the “Group” or the “Company”), the premier business network for entrepreneurs designed to provide a variety of tools and business services to help drive business success, today commented on the U.S. Securities and Exchange Commission–s (“SEC”) adoption of rules to permit companies to offer and sell securities through crowdfunding.
The final rules of Regulation Crowdfunding adopted by the SEC permit individuals to invest in securities-based crowdfunding transactions subject to certain investment limits. The rules also limit the amount of money an issuer can raise via crowdfunding, impose certain disclosure requirements on issuers regarding their business and securities offerings, and create a regulatory framework for broker-dealers and funding portals that facilitate crowdfunding transactions. The new crowdfunding rules and forms will become effective 180 days after they are first published in the Federal Register. The forms enabling funding portals to register with the SEC will become effective Jan. 29, 2016.
“Social networking has been the driving force of the crowdfunding movement,” began Adriaan Reinders, CEO and Co-Founder of EFactor Group. “As a social network of entrepreneurs guiding our members to building a better business, funding is a key component of our services offering. The ability to combine our platform and guide members through RocketHub–s planned equity-based crowdfunding platform means we provide an end-to-end chain of everything an entrepreneur needs. We are very excited for the combination of these platforms and how then can empower our members– businesses.”
RocketHub–s co-founder, Alon Hillel-Tuch, has been a long-standing supporter of crowdfunding. He has been repeatedly invited by FINRA as an annual conference speaker, met with SEC Commissioners including Chairman Walter, and was requested to testify in-front of U.S. Congress twice as an equity crowdfunding expert.
“RocketHub has worked to shape the JOBS Act via two U.S. Congressional testimonies, the authorship of three acclaimed white papers on equity crowdfunding, and multiple in-person consultation meetings with the SEC. We are excited to have direct access to EFactor Group members, made up of over two million entrepreneurs. No other funding platform has immediate access to such a large and diverse community of potential issuers and investors. We expect to roll out a dynamic equity crowdfunding product under the RocketHub suite of funding options.”
One of EFactor Group–s advisors is Douglas S. Ellenoff, partner at Ellenoff Grossman and Schole LLP (“EGS”), also EFactor Group–s present counsel. Mr. Ellenoff has taken a leadership role in the crowdfunding industry. EGS has sponsored crowdfunding conferences and webinars and has been invited to speak at numerous crowdfunding events and is actively engaged with funding portals, broker-dealers, technology solution providers, software developers, investors and entrepreneurs on crowdfunding matters.
“At the heart of any financing is the opportunity to enable entrepreneurs to convert their ideas into robust operating businesses and organizations,” Mr. Ellenoff added. “The JOBS ACT and Regulation Crowdfunding–s expanded investing public is a welcome addition to the many financing structures currently available. We are looking forward to counseling entrepreneurs on complying with the detailed crowdfunding rules adopted by the SEC and supporting entrepreneurship in companies such as EFactor and RocketHub.”
EFactor Group Corp. is the premier business network for entrepreneurs designed to provide a variety of tools and business services to help drive business success. Through its wholly owned business services subsidiaries, EFactor Group provides its growing entrepreneurial community of over 2.0 million members with social networking and education, entrepreneur-focused business services, and financing opportunities including crowd funding. A proprietary selection and matching algorithm to offer specific content and resources tailored to each entrepreneur–s unique business needs. With members in every country in all 196 countries in the world across 240 industry groups, EFactor Group has built the only comprehensive entrepreneurial community that serves as a source of inspiration and ideas on platform that also consolidates essential services to foster business growth.
EFactor Group–s operations are categorized by the following Business Divisions:
1. Social Networking
2. Business Services
3. Funding options.
For more information about EFactor Group Corp. (OTCQB: EFCT) please visit: . Or see our company video :
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not statements of historical fact and often contain words such as “may,” “will,” “expect,” “believe,” “anticipate,” “plan,” “estimate,” “seek,” “could,” “should,” “intend,” “potential,” or words of similar meaning. Forward-looking statements are based on management–s current expectations, beliefs, assumptions and estimates regarding our company, industry, economic conditions, government regulations, energy policies and other factors. These statements are subject to significant risks, uncertainties, and assumptions that are difficult to predict and could cause actual results to differ materially and adversely from those expressed or implied in the forward-looking statements. These risks include risk factors described from time to time in the reports and registration statements we file with the Securities and Exchange Commission, including those in our most recent Form 10-K and any updates thereto in our Forms 10-Q. There may be other risks and uncertainties that are not currently known to us or that we currently believe are not material. We make forward-looking statements based on currently available information, and we assume no obligation to, and expressly disclaim any obligation to, update or revise publicly any forward-looking statements made in this release, whether as a result of new information, future events or otherwise, except as required by law.
Marion Freijsen
Co-Founder/COO
EFactor Group Corp.
Main: +1 650 380 8280
Email:
EFactor email:
John Mattio
Corporate and Investor Communications
EFactor Group Corp.
Main: +1 203 297 3911
Email:
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