New Ventures Society
The purpose of the Society is to promote Educational and Scientific endeavors. We will accomplish this by teaching our membership and the general public about Business and Economics. The best teacher being to actually create the businesses.
The goal of the Society is to:
1) Create ways for our membership to make a stock market profit
2) Create jobs for unemployed Americans
3) Create 10 million new millionaires in our membership from our investment operations
4) Open the path for the colonization of space
To achieve those goals we need to recruit a vast number of members who have a little bit of faith that what we desire can be achieved. Because the goals are so seemingly outlandish we have to take it one step at a time and put very little demand on our membership, especially for investments.
We are allowed to recruit members without limits because of a clause in the Securities Laws. The Texas securities Act (like the Federal act) has a provision (5k) which exempts:
K. Any security or membership issued by a corporation or association, organized exclusively for religious, educational, benevolent, fraternal, charitable, or reformatory purposes and not for pecuniary profit, and no part of the net earnings of which inures to the benefit of any stockholder, shareholder, or individual members, and where no commission or remuneration is paid or given or is to be paid or given in connection with the disposition thereof.
This means that we do not have to get government permission to recruit members and collect dues, but it also limits us to not employ a sales force or give a commission to members for recruiting new members. (we are of course still responsible for making full disclosure of our plans and finances like any other corporation)
So we will have to rely on our membership to recruit their friends and families because they see membership as a very good thing, well worth the $100 a year dues. Our goal of 10 million is reachable but only after we demonstrate our effectiveness by creating our first corporations.
The first year's membership will be unique. It covers the period till December 31, 2017 or the date of closing of the first SEC offering whichever is later.
All membership dues are due by 1 January 2017 (although we can definitely use the money if you decide to pay up immediately).