Subject: File No. JOBS Act Title III
From: Loris Hemlof

September 1, 2012

When it comes to accredited investors (over $200,000 income or $1m liquid assets) the SEC law has had these accredited rich investors swindled most crowd funding donors. Because most crowd funding donors have not been allowed to recieve equity shares for our donotions we have been swindled by rich accredited rich investors who through the issue of shares for their investments have got to own and feed off of our donations. To be fair all donors should receive shares for our donations. We should be able to make regular installments set by the start-up of say $50 per fortnight for conversion to shares after adding up to $1,500 at a set price set by the start up of say $1500 per share. Redemption buy back should be at 10% of the set issue price and with both purchases and sales free of (speculative transaction) tax until trading at audit intrinsic valuation when listing on the share market. Start ups should manage for themselves own audits, share transactions and share records until listing on the share market. Saving most investors from a 1 to 50% loss in favor of the total swindle by SEC mandated rich investor has only totally ripped off most donors and deminished funds for start-ups.