YayYo
Deals

Senior Exec, Directors Flee YayYo Amidst Promotion, Disclosure Concerns

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A California tech start-up currently in the market with a $50 million Regulation A offering called YayYo has seen an exodus of senior leadership this month amid a storm of criticism over the company’s promotional campaign, which has included cable TV ads and online videos by rappers and TV character actors extolling investment in the company’s stock as an opportunity for retail investors to get in on the next Uber or Lyft.

Med-X
Regulation

After Med-X Suspension is Lifted, SEC Warns Reg A Issuers on Reporting Deadlines

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On May 3 the Securities and Exchange Commission sent out letters to companies who had failed to file their 1-K annual reports this year, reminding them they were supposed to file.

The filing, an abbreviated version of the traditional 10-K filed by larger companies, requires audited financial statements and a management report discussing year-to-year performance along with a complete update of the company’s business, ownership and executive staff.

Enforcement

SEC Issues Subpoenas in AltaVista Capital Investigation

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The Securities and Exchange Commission’s enforcement division delivered subpoenas last week to companies who have fallen victim to an alleged advance-fee scheme tied to Regulation A offerings. The scheme, which was first reported by Growth Capitalist in March, is believed to be led by a Southern California man, Steven J. Muehler, who was permanently banned by the SEC last year.

Reg A+
Premium

March Strongest Month Yet for Reg A Approvals

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March was a record month for new Reg A offerings, following a similarly strong February, collectively making the two months the most active period for offering approvals since the Reg A+ reforms went into effect in June 2015.

The SEC approved 15 Reg A filings in March, besting last September’s record...