Episode 1: Hal “Corky” Kessler explains Sec. 181

Episode 1: Hal “Corky” Kessler explains Sec. 181.

The JOBS Act of April 2012 is a Failure for America.

THIS IS A MAJOR JOBS PROBLEM AND NEEDS OUR ATTENTION:

America needs good jobs. Joblessness and low-wage jobs have crippled the survival and prosperity of millions of Americans, and are a drag on our entire economy.

The promise of the JOBS Act, signed into law a year ago and supported by the most bi-partisanship effort in recent history, is DEAD because the Federal Securities and Exchange Commission (SEC) has failed to enact it.

The JOBS Act established a deadline of Wednesday, July 4, 2012, for the SEC to promulgate rules and regulations for the implementation of TITLE II—ACCESS TO CAPITAL FOR JOB CREATORS (commonly referred to as the “general solicitation rule“). The SEC missed that deadline. The agency did publish proposed rules for TITLE II on August 29, 2012, but has not implemented them. There is no anticipated date for finalizing the rules for Title II of the JOBS Act.

The JOBS Act established a deadline of Monday, December 31, 2012 for the SEC to promulgate rules and regulations for the implementation of TITLE III—CROWDFUND (commonly referred to as “Equity Crowdfunding“). The SEC missed the deadline, and has no anticipated date for the rulemaking to implement TITLE III.

AMERICA NEEDS JOBS! Hope from the JOBS Act of 2012 has been *crushed* by the SEC’s inaction and dismissal of the JOBS Act!

Call your representative and complain.

Find your representative here: http://www.house.gov/representatives/find/

See the potential for the JOBS Act at “FILMMAKERS, IT’S 2013. DO YOU KNOW WHERE YOUR JOBS ACT IS?“

EQUITY CROWDFUNDING RULEMAKING APPROACHES SOON.

I was at a seminar this week that purported to be about the new EQUITY CROWDFUNDING, but sadly, the panel was populated by finance professionals whose disdain for those of us who are not “high end, high net worth” made the panel useless.

These types of professional fundraisers, coming from the status quo investment community, are not willing to acknowledge that the true value of EQUITY CROWDFUNDING is the escape from the expense, time and headache of pursuing Reg D exemptions and PPMs (“Private Placement Memorandums”). They collect monstrous fees to create those, so they have no respect for those who pursue crowdfunding as an entry to the financial world.

URGENT UPDATE for filmmakers regarding the Crowdfunding Act of the JOBS ACT

The Securities and Exchange Commission is accepting comments on how it will formulate rules for the new equity CROWDFUNDING act that was included in the JOBS ACT. (See my story on ReelGrok.com at http://www.reelgrok.com/jobs-act-crowdfunding)

This is important for indie filmmakers, since the ability to reasonably raise up to $1,000,000 from investors could reinvigorate the indie film biz.

Our chance to rebuild the independent film industry.

FILMMAKERS, this is very important:

WHAT CONGRESS DID
The house has passed the Entrepreneur Access to Capital Act which offers a tremendous opportunity to rebuild the independent film industry. The Act is designed to allow businesses to raise capital through crowdfunding. Under current securities laws, filmmakers can only ask for donations, and donors support the film without any participation in its potential profit.

MOVIES IN A BAD ECONOMY

Image via Wikipedia

You know that your favorite movies, and even ones you don’t like, exist in an uneasy alliance of art and commerce. Movies have the potential to be both emotionally and financially powerful; sometimes one, sometimes the other, sometimes both. They brew in a caldron of artistic expression, profit potential, and career possibilities. Some movies find life solely because of demand for profit, and some find life solely because of someone’s passion for storytelling. Some come together for any number of reasons between those two ends of the spectrum.

Why Make Movies?

Read about the making of the independent feature film NATE AND KELLY here:

Has a movie ever touched your life?

The cost of asses-in-seats

Here’s what I think specifically about MARKETING LOW-BUDGET INDIE FEATURE FILMS (NARRATIVE FICTION).

This is an effort to help visualize the numbers needed for this new world of filmmakers becoming responsible for their own direct distribution.