News

Number of news items returned: 61 to 80 records of 434

JNCI publication involving CytImmune's CYT-21625

10 March 2018

(7659 views)

  "JNCI publication involving CytImmune's CYT-21625"   "Please find attached [via the link below] an article published in the most recent version of ...

AqMB introduces SupplierLink

08 March 2018

(7404 views)

  AqMB introduces SupplierLink   "Welcome to your virtual marketplace Process designers are busy people. Conferences and trade shows are expensive and the leads ...

"APRA to introduce first prudential standard aimed at tackling growing threat of cyber attacks"

07 March 2018

(7466 views)

"APRA to introduce first prudential standard aimed at tackling growing threat of cyber attacks"   Cyber Research has advised us of another ...

Support Management Solutions: Updates on Board and Development

27 February 2018

(7998 views)

    Support Management Solutions: Updates on Board and Development   "New Director Hugh Hamilton has been appointed to the Board. Hugh has experience in ...

Happy New Year - Funding Strategies Connect Jan 2018

06 February 2018

(6543 views)

    Happy New Year - Funding Strategies Connect Jan 2018   Dear Readers, Happy new year!   Flora Mok and myself were privileged to attend the ...

Squirrel Acquires London Based FCA Licensed Financial Service

05 February 2018

(6152 views)

    Squirrel Acquires London Based FCA Licensed Financial Service   "Squirrel Limited through its wholly owned UK based subsidiary, Squirrel Money Limited is ...

Mark's report on his recent Hong Kong visit

01 February 2018

(6347 views)

    Flora Mok and myself (pictured above) were privileged to attend the Asian Financial Forum, the Asia Private Equity Forum and ...

Dealer Trade Progress Report

25 January 2018

(4959 views)

    Dealer Trade has provided a progress report in regards to: Gumtree - CarRecord Partnership New Manufacturer - Suzuki QLD Dealer Trade UK Fairfax - ...

AqMB offers "PFD export to CAD software, smartPFD mode, plant rollback & simplified stream numbering"

25 January 2018

(5269 views)

    AqMB offers "PFD export to CAD software, smartPFD mode, plant rollback & simplified stream numbering"   Transition easily from BFD to PFD ...

"Support Management Solutions to raise capital for new medical software product"

23 January 2018

(6271 views)

    "Support Management Solutions to raise capital for new medical software product   Support Management Solutions to seek capital in 6-9 months to ...

2017 - its a wrap! Funding Strategies Connect December 2017

19 December 2017

(8561 views)

  2017 - its a wrap! Funding Strategies Connect December 2017     Dear Readers, 2017 - its a wrap! We have completed significant assignments for ...

Squirrel ranked 84th in the 2017 Deloitte Technology Fast 500 awards

18 December 2017

(8785 views)

  "Fresh off the back of Squirrel's recognition as one of the AFR's Fast Starters, I am pleased to announce we ...

Opmantek named 55th Australian Export Awards category winner

15 December 2017

(8380 views)

  Opmantek named  55th Australian Export Awards category winner     On the back of winning the 4th consecutive Queensland Premier's Export Award, Opmantek ...

BlueMount Capital Secures Major Debt Funding

07 December 2017

(8545 views)

    BlueMount Capital Secures Major Debt Funding   "In conjunction with BlueMount Capital’s Melbourne office, I am delighted to announce we have secured ...

"Walking over broken glass for sustainability"

06 December 2017

(7899 views)

    "Walking over broken glass for sustainability"   "Dr Ho’s team, along with industry partners Brisbane City Council and EnviroSand, are investigating mixtures ...

Squirrel recognised in the 2017 AFR Fast Starters List

09 November 2017

(7362 views)

  Squirrel recognised in the 2017 AFR Fast Starters List   Squirrel debut's on the Australian Financial Review's Fast Starters list, as the ...

The market, introductions and news - Funding Strategies Connect October 2017

31 October 2017

(7963 views)

    Dear Reader,   It's an interesting time in the capital markets space at the moment. Australia has seen a large initial coin offering ...

"CaroMel's platform launch set"

27 October 2017

(7355 views)

"CaroMel's platform launch set   Platform launch CaroMel’s platform is ready for launch. The company will now sprint to load the branding and ...

"We are launching any day now" CaroMel Ltd Podcast

19 October 2017

(7557 views)

    "We are launching any day now"   Podcast: Listen as Raghu Rajakumar spoke to Greg McLardie, Managing Director of CaroMel Ltd. CaroMel is ...

LeenLife signs Agreement with BioCube

17 October 2017

(7638 views)

  LeenLife Pharma International: Production and Operations in North America Exclusivity Agreement with BioCubeTM   "October 17, 2017 CSE - LLP The Company is pleased to ...

Crowd-sourced equity funding bill to pass Senate

16 February 17

 Crowd-sourced equity funding bill to pass Senate

 

"Retail investors will soon be able to buy up to $10,000 of equity in their favourite business ideas, with "crowd-sourced funding" legislation set to pass the Senate with Greens support.

The legislation will allow unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas, with a 48-hour cooling off period applying.

"Crowd-sourced equity funding will offer a new funding option for small businesses," said Treasurer Scott Morrison while introducing the Bill to the Lower House.

"It complements other forms of crowdfunding already available, such as rewards-based crowdfunding and peer-to-peer lending, to offer start-ups greater choice in how they fund and finance their operations.

"It will serve as both a complement and a source of competition to more traditional funding options for small businesses, including bank debt products."

However, entrepreneurs are divided over whether businesses will want to use the legislation, given it excludes proprietary companies, a structure used by around 99 per cent of Australian businesses, and would compel them to become unlisted public companies.

Crowdfunding portals like VentureCrowd and Equitise have previously been available only to "sophisticated investors" with more than $2.5 million of assets outside the family home or income above $250,000 a year.

Retail investors were restricted to opportunities from matching services like The Australian Small Scale Offerings Board (ASSOB), operating under Section 708 of the Corporations Act, which allowed up to 20 investors at any one time raise a maximum of $2 million a year.

"We just have to turn down the $5000-$10,000 investors in that environment," said ASSOB chief executive Will Leitch, who welcomed the new legislation as something that would "get the early-stage economy working".

Greens backing

The Greens' Treasury spokesperson, Peter Whish-Wilson, said his party would support the crowd-sourced funding bill, enough for it to pass the Senate without Labor Party support.

The Labor Party will put forward an amendment to extend the cooling-off period to five days, for which Opposition innovation spokesman Ed Husic claimed he had Greens and Nick Xenophon Team support. Mr Husic was also considering an amendment that "the compulsion to convert to an unlisted public company is dropped and the government...allow for a wider range of start-ups and small businesses to access the equity crowdfunding regime".

Mr Husic has previously said his feedback from businesses is that flipping to public status is a costly distraction, that few will undertake.

"Without liberalisation, this bill will be ScoMo's dodo," he said, referring to the Treasurer.

The bill does grant five-year holidays for newly converted public companies from continuous disclosure, holding annual general meetings, auditing accounts and providing paper annual reports.

That's not enough for Troy Douglas, co-founder of sugar-free soft drinks maker Nexba, which is raising $1 million from sophisticated investors through VentureCrowd. Mr Douglas said he would be unwilling to convert to public company status, even if it meant widening his pool of potential investors.

"It's just an unnecessary administrative burden," he said, pointing to the potential information his competitors could get from the quarterly updates required.

However ASSOB's Mr Leitch already compels businesses raising through his platform to be public, even though he doesn't have to under Section 708 of the Corporations Act.

"If you're raising $1 million, you should be willing to face your shareholders," he said.

It was "a myth" that converting to a public company was onerous, he added.

"It costs about $700, you need a quarterly disclosure statement saying you're spending the money the way you said you would and that you're not insolvent, and you need to appoint three directors - which should be a helpful thing anyway," he said.

The government has promised to include proprietary companies in crowd-sourced equity funding in future, but for now Mr Leitch said this bill was a "huge improvement" on the previous regime.

Small Business Minister and Nationals MP Michael McCormack said the bill would be a boon for regional businesses in particular, located as they are away from traditional angel investor networks in the cities. 

The Senate was delayed on Thursday debating parliamentary entitlements legislation, so the Corporations Amendment (Crowd-sourced Funding) Bill may not now be debated until Parliament returns on March 20, although with Greens support its passage is assured.

The Senate Economics Committee recommended on Monday that the Upper House pass the bill, with a review after two years. The laws will come into effect six months from royal assent."

Australian Financial Review, Michael Bailey, 16 February 2017

Read the full article here