Subject: File No. S7-06-13
From: Michael G. Roseman
Affiliation: Potential Investor

May 12, 2014

   As someone who was ready to invest in an international startup company
   that is using a crowdsourcing investment site to gather equity, I was
   quite disappointed to learn that you have to be an "accredited
   investor" to participate in any unlisted shares. That means I have no
   ability to gain any equity in this company that I have a great
   interest in supporting. Lowering the net worth requirements to
   something that younger investors have a chance of meeting (eg.
   $200,000) would benefit both sides of the investor/company equation.
   If you are worried the uneducated masses will be bilked into poor
   investment schemes, then an official accreditation process that would
   allow seriously interested parties to invest, yet is simple and fast
   enough that you do not need to be a career investor to diversify your
   holdings. At this point, I am stuck losing this prime opportunity and
   its limited window because of US laws favoring the already-wealthy and
   institutional investors. Just because someone has $1 million wealth
   acquired via some means, including inheritance, doesn't mean they are
   more educated than others who have some available discretionary net
   worth they would like to invest. Please reconsider these limits. Thank you.