在美国，这种投资机会受投资条例D第 506(c)条的监管，该条例允许 "广泛征集和一般投资广告"，但只限于经认可投资者（净资产超过100万美元或收入超过20万美元，请参考详细定义）。根据S条例，非美国居民投资者透过S投资条例可以获得资格，最低投资额为5,000美元。有关详细信息，请参见我们的投资摘要。有关条款和风险的描述，请索取私募备忘录。
Given the traction achieved by TransparentBusiness so far, what is your estimate of the likelihood of TransparentBusiness
由于我们向全国各地的政治家展示了TransparentBusiness的好处，美国32个州的立法员已经提出了法案，力图使政府承包商必须具备这种透明度。照片中，TransparentBusiness联合创始人Silvina Moschini与Joe Biden和参议员Corey Booker一起的合照。
参议员Jim Nielson和众议员Ken Cooley向TransparentBusiness首席执行官Alex Konanykhin颁发了加州参议院经济发展认可证书合照。
... a New York-based software startup called TransparentBusiness Inc. has drawn backing from Fortune 500 executives through a relatively new type of securities offering called 506(c) as part of an effort to raise $10 million this year.
Alex Konanykhin, CEO of TransparentBusiness, said he decided to reach out directly to accredited investors by purchasing ads in financial publications. One particularly bold ad includes the figure, 90,000%, with a question mark next to it.
Konanykhin said the ad speaks to the large market opportunity for his company's software, which helps governments eliminate fraud by verifying billable hours charged by outside contractors. ...
Thus far, TransparentBusiness Inc. has raised about $500,000 under the 506(c) offering plus an earlier round of about $1.5 million through a convertible offering. It's currently offering 10 percent of the company for $10 million, with a minimum investment of $5,000.
The company's investors in the convertible offering include: ... Ken Arredondo, former President of CA Technologies and a TransparentBusiness. board member ($150,000); Jorge Titinger, former CEO of SGI ($100,000); Ximena Querol, CEO of Sector3 Social Venture Group ($125,000) and Andrew Winn, former portfolio manager at BarclaysGlobal Investments and now senior vice president of TransparentBusiness ($110,000).
One of the investors, Ken Arredondo, told The Deal he invested in TransparentBusiness and agreed to serve on its board of directors because of the company's strong management team and the huge market opportunity to increase transparency of outsourced contracts worldwide. He believes in the company's product and said it's unique.
"It's a Saas-based, easy-to-use tool," he said. "There are a lot of technology players out there that are a lot bigger, but none of them have what they have. There will be competition, but they have the product now. They have first-mover advantage."
Arredondo plans to keep his investment in the company for at least two to five years. By then, the company could be large enough for an IPO or a sale.
A 506(c) offering, unlike other private offerings such as private-investments-in-public-equity, or PIPE deals, don't carry the same restrictions around the marketing of private offerings. (continue reading).
...Just a few years ago, a software contractor over billed New York City more than $500 million dollars on a single municipal project.
Given that Rhode Island spends hundreds of millions of dollars annually on large, complex professional service contracts, I am concerned the state is vulnerable to similar examples of time sheet fraud. That’s why I have introduced legislation (H-7788) that requires the transparent verification of billable activity.
In the absence of such verification, our agency auditors cannot verify the accuracy of contractual billing, so the state essentially pays contractors on the honor system, leaving open the possibility for fraud, waste and abuse. Further, state officials cannot efficiently monitor the status of ongoing, complex contracts, one of the major reasons we have seen some projects go far over budget and past deadlines.
To remedy the situation, my legislation would require that state contractors use newly available transparency and accountability tools to ensure that they are staying on task toward delivering contractually promised system functionalities.
By requiring vendors to use software that periodically takes screenshots of work being performed and provides automated real-time cost status of key tasks, we can significantly increase our capacity to manage complex projects, while protecting the state from padded invoices and time sheet fraud.
These software tools, such as TransparentBusiness from leading payroll and human services provider ADP, are already in use in the private sector, and Rhode Island can take advantage of these best practices in managing its state contractors.
Upgrading legacy information systems and other complex projects will always be a challenge, but let’s strengthen our state’s overall information technology project management capacity with powerful new transparency and billing verification tools designed to prevent time sheet fraud.
By Brian Patrick Kennedy, the Speaker pro tempore of the House of Representatives of Rhode Island.