TORONTO, Aug. 13, 2013 (GLOBE NEWSWIRE) -- BoardSuite (www.boardsuite.co) announced today it has become part of Crowdfunding Infrastructure Platform (CFIP) for the USA Crowdfunding.
The Crowdfunding Infrastructure Platform (CFIP) is a cost-effective best-of-class, cloud-based tools and processes to seamlessly handle the full spectrum of Title II transactional elements. The platform also provides post-transactional Issuer governance and compliance requirements. CFIP is a seamless back office that helps broker dealers and crowdfunding portals with PRE-DURING-POST transaction.
"As I have repeatedly observed about the sale of securities through funding portals is that there inevitably will be lower cost technology based solutions created to replace conventional means of conducting similar business practices, and not only will these solutions achieve the same results but in many cases exceed them - its just happening sooner and better than what I had envisioned," said Douglas Ellenoff of Ellenoff Grossman & Schole LLP.
With an estimated 6 million accredited investors in the U.S. alone, the opportunity presented by Title II of the JOBS Act is very large. However, the legal and regulatory risk to Portals, Broker Dealers and Issuers is equally large. Properly managing this risk requires a new type of integrated scalable technology and services platform.
"Having BoardSuite as part of CFIP is crucial to the success of a seamless platform that we offer to Broker/Dealers, Issuers and Shareholders," said James R Simpson, co-Founder, CFIP.
BoardSuite plays an integral role in assisting companies through the pre and post stages of a crowd funding transaction. Our products provides tools and processes to organize companies for corporate and financial due diligence. Companies can pre-screen themselves with background checks, corporate searches, etc. Post transaction all the closing documents and new shareholder information will be automatically uploaded in BoardSuite. The company, now having successfully raised its capital, will further benefit as all their new shareholders will be given secure access to see their closing documents, share certificate, and any information the company wishes to share with its shareholders. This brings companies and shareholders together like no other environment that exists today.
"When BoardSuite was built, it was to enable any company to organize and manage their corporate information and capitalization table. At that time crowdfunding had not yet evolved. Today, every private company will benefit from using BoardSuite for crowdfunding events. By seamlessly integrating into BoardSuite, companies will have an ongoing and interactive relationship with their shareholders, eliminating the risk of using email to disseminate confidential information. All shareholders will receive the same information at the same time," said Oscar A Jofre, Founder, President/CEO BoardSuite.
Provided as a FREE SaaS-based service, BoardSuite enables management to manage, organize and share their corporate information securely. BoardSuite enables users to manage their documents, calendaring, committees, contracts, and capitalization table.
BoardSuite was created to mitigate risk by providing directors, officers and shareholders a simple yet powerful solution to address their responsibilities surrounding good governance and compliance, thus allowing them to devote more time towards helping their organizations improve overall business performance.
Award Winning Company
BoardSuite has received notable recognition within the online industry for its achievements. In March 2011, BoardSuite was selected as one of the Top 15 Companies to watch by AlwaysOn OnDemand. In July 2009, BoardSuite was chosen as one of Canada's leading Web 2.0 pioneers at the PICK20 Awards (the only national listing of Canada's up and coming Web 2.0 pioneers). In August 2009, BoardSuite was named by IDC (International Data Corporation) as one of Canada's Top Cloud Computing Solutions to Watch, calling it a "disruptive innovation" in the board portal industry.
CONTACT: Oscar A Jofre President/CEO BoardSuite Corp. Oscar.Jofre@BoardSuite.co BoardSuite Website: www.boardsuite.co Voice: 647-317-1403 James R Simpson CO-Founder CFIP Crowdfunding Infrastructure Platform www.CFIP.us 831-521-1297Source: BoardSuite