Jagged Edge Tour Dates
This could be kinda scary
It’s being called “the windowless cabin with a view.”
British developers at the Centre for Process Innovation are gearing up to test the world’s first windowless plane — a truly captivating (or potentially unnerving) flying vehicle that could allow passengers to see what’s going on outside. It may be ready in less than a decade.
Instead of windows, full-length screens allow constant views of the outside sky, with imaging that would come from mounted cameras outside of the aircraft. These screens can actually be switched on and off (according to traveler preference).
In addition to cloud sightings, the screens will also allow users to tap the screen to identify prominent sights… or to just join the mile-high internet surfing club.
The SEC on Wednesday approved game-changing final rules in the implementation of Title IV of the JOBS Act, known as “Regulation A+,” which will allow small businesses and startups to raise up to $50 million from “the crowd.”
As I reported more than a year ago, this little-known provision of the JOBS Act will allow a startup company or emerging business to hold a “mini IPO” from the general public, not just accredited investors, and should be a complete game-changer for the way businesses are funded.
When Congress passed the JOBS Act in April 2012, Regulation A+ was an attempt to fix Regulation A, a rarely-used provision of federal law that allowed companies to raise up to $5 million in a public offering. Regulation A was a bust because it required the company to register its offering in each state where it was to be sold. The cost of complying with each state’s “Blue Sky Law” was exorbitant, compared to more commonly used laws such as Regulation D that allowed a company to raise the same amount of money, or more, without having to pay for expensive state-by-state compliance.
Under the SEC’s new rules for Regulation A+, the amount that could be raised increases to $50 million and the need for state compliance has been eliminated. More importantly, Regulation A+ allows those funds to be raised from the general public, not just accredited investors like with Regulation D offerings.
The question that had everyone in the crowdfunding world holding their collective breath was simple: Would the SEC keep their proposed rules intact when its leadership voted, or would they succumb to the pressure of state securities regulators who were adamantly opposed to lessening of restrictions for their own selfish financial reasons? The answer is that the SEC stuck by their guns and allowed companies to raise Regulation A+ without having to go to each state and spend a fortune registering their offerings.
Another important issue the SEC decided involved who can invest in these offerings. The JOBS Act limited Regulation A+ offerings to “qualified investors” which led some to argue that only “accredited investors” would be allowed to invest. Accredited investors are those individuals who earn more than $200,000 per year or have a net worth of greater than $1,000,000. However, the SEC broadly defined the term “qualified investors” under Regulation A+ to allow anyone to invest, albeit with some limitations as to the amount.
For those worried about protecting investors from fraud, Regulation A+ only allows investors to invest 10 percent of the greater of their annual income or net worth in these securities. The SEC has also implemented other strong investor protections such as “bad actor” background checks on the companies offering the securities, and disclosure of the company’s financial information as part of the offering.
The Regulation A+ rules can be read in full here. There are hundreds of pages, so get ready for a long read or a fast way to bore yourself to sleep. Having read the entire thing, I can tell you with confidence as a crowdfunding attorney that Regulation A+ has a chance to dramatically change the way small and emerging businesses raise capital in America.
The rules released by the SEC today now have to be published in the Federal Register before they become law, which takes about 60 days. As soon as that happens, entrepreneurs will have the ability to raise millions of dollars from “the crowd” in a simplified and comparatively affordable offering using Regulation A+.
Tragic news out of Chicago this afternoon, as it’s being reported that Lil Durk’s manager, OTF Chino, was shot and killed in the city last night. According to The Chicago Tribune, Chino, who’s real name is Uchenna Agina, was sitting in his car outside of a restaurant in Avalon Park when a gunmen approached the vehicle on foot and fired into the car. Two other individuals were wounded in the incident, and no arrests have been made.
This tragic news comes just days after Durk released his new single, “Like Me,” which will be featured on his debut album with Def Jam Records. Durk has yet to tweet or post anything on Instagram since the news broke, but Lil Herb posted about the incident and told Durk to hold his head. We will continue to update this story as more details are released.
LOSO CONTINUES TO KILL HIS FRIDAY NIGHT FREESTYLES
Kevin Durant will have bone graft surgery on his ailing right foot and will miss the remainder of the season, Oklahoma City Thunder general manager Sam Presti announced Friday.
Durant will have the procedure early next week and is expected to return to basketball activities in the next four to six months.
The news comes a week after Presti announced that Durant had been “removed from basketball activities” and insinuated he could be shut down.
“With the focus of this process being aimed entirely on Kevin’s long-term health and stability, it was the consensus of the specialists team, in addition to a collective decision by Kevin, his representation and the Thunder, that to address the setback of the fracture site, a bone graft procedure would be the most proactive and recommended approach,” Presti said in a statement. “The bone graft is the standard procedure for the five to eight percent of Jones fracture surgeries that do not initially have success or experience setbacks sometime within the recovery period.”
Historically, the Jones fracture has never limited or altered a player’s ability to return to play. The bone graft is the next step in resolving the injury for the rare cases that don’t experience a full recovery with an inserted screw (92 to 95 percent of initial Jones fracture surgeries are successful).
“While everyone is disappointed that Kevin falls into that group, we are encouraged that the bone graft procedure has historically demonstrated long-term health and stability,” Presti said.
The Thunder and Durant worked in collaboration with three of the top foot and ankle physicians in the world: Dr. Martin O’Malley, Dr. James Nunley and Dr. Bob Anderson. O’Malley will perform the bone graft surgery in New York.
Durant underwent surgery Feb. 23 to attempt to alleviate soreness and discomfort in his right foot that was being caused by a screw inserted in October during a procedure to repair the Jones fracture. After the second procedure, Durant was re-evaluated after a week, then re-evaluated again after another week, at which point coach Scott Brooks updated the player’s timetable to a “week or two.”
Durant had intensified his on-court workouts before being removed from basketball activities last week, even returning to participate in parts of practice, including some 3-on-3. But the soreness that plagued him before the All-Star break and pushed him toward the second surgery was not resolved, because Durant is one of the unique cases in which the screw didn’t agree properly with the fracture.
Presti said the fracture was healing “excellently” after the second surgery, but given the persistent soreness, the team removed Durant from basketball activities. More evaluation showed signs of regression with the fracture, which led to the decision to take the next step with a bone graft.
The reigning league MVP, Durant averaged 25.4 points, 6.6 rebounds and 4.1 assists in 27 games this season.