December 20, 2012
Dear SEC and Congressional Rulemakers, I was greatly excited to see this past April that POTUS Obama signed legislation lifting the ban on general solicitation. I am somewhat disheatened however that the SEC is taking such a lengthy period to formally implement this provision. While I absolutely stand with the SEC in wanting to make certain that investor protections remain the central focus of any new policy, I would also hope that the SEC recognizes that a company like Presley Investments needs a viable and useful alternative to raising capital in todays financial enviroment.
California has a tremendous amount of potential new acrredited and sophisticated investors that I could never manage to have a conversation with because I don't know them and they don't know me. I am well aware of the specials Domino's Pizza is offering today because I see their advertising in a variety of mediums. For Presley Investments to be able to advertise and get potential new "customers to the counter" so to speak, is for my company and in the words of President Obama, "a potential game changer".
I have seen enough episodes of American Greed to know that as I write this letter, there are con men in this country right now already scheming on how to game the lifting of the advertising ban and steal millions of dollars from unsuspecting investors. But I'm also confident those unsavory individuals account for a only a small number of the new investment companies that will prosper legally once the general solicitation ban is lifted by the SEC.
I intend to do everything in my capacity as the President of Presley Investments to set the standard for new investment companies that will make President Obama look at me and say, "Presley Investments is doing it the right way and making sure its investors come first. This was my vision for the JOBS Act".
For Presley Investments, full transparency is the order of the day. Being able to hold investor seminars and reach a large new pool of investors because of the lifting of the ad ban is truly a blessing for a company like mine and not an opportunity I will abuse or squander.
Please implement the lifting of the general solicitation ban as soon as you are able so that I can raise more capital, earn more profits, employ more good folks, and pay more taxes.
Thank you for your consideration.
Kindly, Reno D Fontana