Listen "Section 708 Great for Capital Raising"
Episode Synopsis
Section 708 of the Corporations Act enables a private company to raise up to $2M in a 12 month period from a maximum of 20 retail investors. "Retail Investors" are defined as people who are not "Sophisticated Investors". "Sophisticated Investors" are people certified by an accountant as having a net wealth of $2.5M or, for the last 2 years, had a gross income for in excess of $250,000. There is a probation on advertising that the company is seeking to raise capital.... Read The Full Article Here
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