December 23, 2012
Good Evening - My name is Debo Ayeni and I started a web development company back in 2009. We have what me and many investors I have pitched to, is what can best be described as an original idea and innovative concept. We have projected consistent growth in revenue and hiring once we can get our product to market, but we need funds in order to do this. Unfortunately, for the past 4 years we have been unable to get the funding required to bring it to market. I believe crowdfunding is now our best and perhaps final option and am urging the S.E.C. and FINRA to complete the rules governing crowdfunding in a thoughtful and deliberate manner, but most importantly, in an extremely timely manner as well. I am constantly reading articles stating that the Commission is behind on rulemaking for a variety of reasons, with some (and I really hope this isn't accurate) being based on politics instead of the best interests of the public, investors, and small businesses. I just want to reiterate that behind these small business are passionate entreprenuers of all ages, from all walks of life, who only want to use their skills and talents to build something positive, hire employees, help these employees accomplish their goals as well, and further contribute to American society by offering the public innovative goods and services. Because of a very deep, and very damaging recession, it has been extremely difficult to attain funding to to do this from the channels that would have provided it before the great recession. To its credit, Congress recognized this and in a rare feat of bipartisanship passed the JOBS Act to help rectify it. Now, I am urging the S.E.C. and FINRA to follow through on Congress' legislation and complete the rule writing required by the JOBS Act in a responsible fashion and as soon as possible. There are literally hundreds of thousands of small business owners all across the country that are betting their livelihoods, and their families as well, that you will do this. Please don't let us down. Thank you for your time.