September 17, 2012
I am an independent film maker and not definitely not part of the Hollywood elite that we hear so much about. I currently have and am involved in four different legitimate feature films all slated to be made entirely in the United States, one in Colorado and North Carolina, one in Los Angeles, and two more in North Carolina the films post production will also be done in the US as well, Not Canada, Europe or Mexico.
The total budgets for these films is collectively twenty million US dollars we will have recognizable cast and experienced crews also two thirds of the monies spent will go directly to the local economies of Colorado Springs, Little Rock Ark., The Piedmont Triad are of NC, as well as Los Angeles. The other third goes directly to labor which is US JOBS. We will also be creating over 500 US jobs in each market and for each film.
I do not understand why the SEC is not supporting the spirit of the law to allow legit businesss the ability of profit sharing for small business such as mine.
All of these films will have a separate LLC, which means monies to local and state governments, collective bargaining agreements with the Screen Actor Guild three will have agreements with the IASTE, and Teamsters locals as well. Three will also have completion bonds to ensure the films are completed.
In these hard times for economic development I fail to see the purpose of all the feet dragging and not for the life of me, do I understand why the SEC is not allowing crowd funding to be a source for both job growth and profit sharing of products that will be consumed here and especially sold the worldwide market.
International sales of American entertainment create US jobs and Profits for investors, not out sourcing of jobs and money to foreign entities. I understand fully the need to protect investors the answer is simple put a sliding scale on the amount to invest If less than 5000 no requirement, if over 5000 USD the Investor worth at least 100k and so on.
I am pleading with the SEC to do their job and make the rules for crowd funding simple and allow profit sharing for the investors for crowd funding on a smaller level please do your job so I can both do mine and hire at least 2000 people to do theirs.