Public Offering to Become a Shareholder in Purism

The buying has stalled out recently, raising almost $345K out of a target goal (stated maximum of offering) of $1.235M. I’m predicting around $440K by the end of 27days … so 35% of the target. The convertible bonds did better. I guess people didn’t believe the $75M valuation.

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Back in February you complained about $226.5K raised and Purism operating at a loss. Today you complain about $345K raised and no mention of Purism’s financials now that you learned they were profitable back in 2023.

Already looking forward to May. Fallacies are fun!

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I simply stated facts and making observations. If you think that they were “complaints”, you’re reading too much into what I said.

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No. You claim the Target is $1.235M. This is not facts. According to Form C the Target is $15,000.

Maximum Offering Amount is $1.235M for a ~3 month period which is close to the $5.000M/year maximum for regCF.

Purism could probably extend the current offering and continue raising $50-80,000/month for some time without adjusting the 75M valuation. It makes a lot of sense to wait it out and prepare for some PR gains.

Look at the balance sheet, soon there’s a closure to the settlements and obligations. Then follows new product announcements and accelerated software development. This will probably please future investors even beyond the current 75M valuation.

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What is listed in “Target” on a Form C is what is known as the “Minimum Target” and, if not met, the offering does not go through. See https://www.sec.gov/Archives/edgar/data/2007806/000166516024000045/offeringmemoformc.pdf where the “minimum target” is clarified. So, perhaps, I used the wrong terminology and I should have used “goal” instead of “target”. What is listed as the “Maximum” on the Form C is the real goal for the offering — that’s what they are hoping to sell. And it is $1.235M. And in their offering doc, one finds out that it’s a soft maximum and that they are allowing there to be “oversubscriptions”.

Purism could probably extend the current offering and continue raising $50-80,000/month for some time without adjusting the 75M valuation.

Maybe. The site does clarify “Closing date is based on the most recent SEC filing and may be subject to change. This campaign may be extended further if an amendment is filed.” Without such an amendment, the offering simply closes in another 25 days or so. That doesn’t mean they couldn’t make another offering, but I don’t think they could just extend without filing/amending.

I doubt it. The announcement that there was a profit in 2023 (un-audited) did provoke some buying. But even then it looks like they will probably sell only a 35% of the offering size. Currently there are 149 investors. That means only 149 people think that the $75M valuation is fair.

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Or maybe he is “reading too much of what you have said”.

Speculating about what potential investors think about the valuation goes well beyond “facts”. Have you talked to any potential investors who decided not to and asked what their reasons were?

Valuation is far far from an exact science. So a valuation is not really a fact as such. (I mean sure, an IPO at $x per share implies a valuation but that is only a part of it.)

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This is likely. I believe already Cardinal Richelieu observed that, “If you give me six internet forum posts written by the hand of the most honest of men, I will find an inconsistency in them which will hang him.” Something along those lines, anyway. :smile:

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An important event that occured was the prominent StartEngine campaign banner on the forums being replaced by the temporary outage. After that was resolved, the StartEngine campaign banner was not restored.

@JCS

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Yes, perhaps you should fix this? Remember you are on a Quixotic quest to reduce misinformation/disinformation. This is also a good opportunity for you to reduce misinformation in your feb post. You can make it more fact-based by adding the 2023 numbers.

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They probably kept the maximum at arbitrary $1.235M to allow for a new offering at higher valuation.

Revenue is up and the project is significantly de-risked. This increases valuation.

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I did not find that I made any errors in my February post. I changed the wording (target) in the most recent post.

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If the $75M valuation were fair, don’t you think there would be significantly more than 150 investors at $344K??? Purism has, IMO, reputational damage to overcome – the examples of them not honoring their refund policy will be a drag that will take time (people forget) to heal IMO.

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Time to leave the pointless and unsubstantiated speculation behind.

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I haven’t contributed because my personal circumstances have changed and I’m unable to responsibly contribute to the campaign, as much as I want to.

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That’s completely understandable, and no worries - your enthusiasm and support has still been very much appreciated and it is best that you prioritize your personal financial needs. :slight_smile:

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You are missing out on an opportunity to reduce misinformation/disinformation. You know 2023 was profitable. Why not bring the facts to your feb 2024 post?

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People differ. $344K@$75M is impressive to me. I’m looking forward to Q2 and Q3. If investments, revenue and profit margins are kept at current levels we will see and end to all obligations and settlements.

edit: 151 investors now :wink:

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There was no misinformation/disinformation. There’s no point to adding facts that weren’t available at the time. i.e. Do you not understand that there’s a difference between countering misinformation/disinformation and being encyclopedic?

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173 investors now :wink: