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rated:
Got an email last week from iConsumer. It asked for social security number in order to grant free shares. Has anyone done this? Just want to make sure it's safe.

I looked at my account and there's $22 in pending cash back and $329 in pending stock. I have no idea where most of it came from, I don't recall ever shopping at the sites listed.

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rated:
I did. The site isn't fly-by-night, they've been around for a while and growing steadily, they use standard security measures, their cash-back offering is in-line with what other sites are (i.e. they're not offering ridiculous promos to unsustainably goose growth), and they're registered with the SEC for this stock sharing scheme.

Mind you, I'm not counting on the shares being worth anything, but I don't think there's too much risk in providing my social.

rated:
Where do you see the value of your pending stock?

rated:
barsotti0 said:   Where do you see the value of your pending stock?
  Doesn't show the value just the amount of shares you have.

rated:
I just updated.
Received confirmation email afterwards.

rated:
Yes, I'd love to know what the valuation is. Have about 2000 shares.

rated:
According to the offering circular (https://www.sec.gov/Archives/edgar/data/1652350/000164460016000200/offeringcircular-9.htm) they're planning an IPO price of $0.045 per share.

Of course, the value you'd actually be able to sell at is anyone's guess. We may know sometime next year.

rated:
Bigcrumbs (now Mainstreetshares) does something similar. No idea if/when they'll ever IPO and whether it will be over a $0.01 a share... but supposedly I have ~200 shares! No bonus 100 "shares" though, but you get shares equal to your cash rebates. Supposedly 60% of any cash value when they go public will go to the members' shares. Of course if they were bought for stock, the cash received would be $0. Or if they just go bankrupt

rated:
Check your inbox(es) for an email titled "Your Shares have been issued and transferred"

More:

Hi Jack,

Your shares of iConsumer stock have been issued, and the record keeping for those shares has been transferred to IssuerDirect, our transfer agent.

For the moment, there isn't anything you should do.

The first week of February you should receive an email directly from IssuerDirect. It will look a lot like a bank statement.
It'll list your iConsumer shareholdings, your IssuerDirect Account Number, and your PIN. Examine that statement and if
something is off, please contact us for help. Normally, you'd contact them directly, but we'd like to know about any issues that you see.

Once iConsumer has a ticker symbol, and is actively traded on a market (we're shooting for the OTC QB), then there may be things you'll want to do.
We hope to get those steps (and the other behind the scenes stuff that makes trading easier) done in the first quarter of 2017.

For instance, maybe you want a brokerage firm to handle your iConsumer shares (stockbrokers like Schwab or ETrade ). That way you can
have your broker track your iConsumer shares. To do that, you'd instruct IssuerDirect to transfer your shares to your brokerage account.

Another reason ... maybe you want a broker to try to sell your iConsumer shares. You can sell them yourself now, but finding somebody
who wants to buy them will take work. Brokerage firms make their money, in part, by helping you sell your shareholdings.

A frequently asked question is "Can I get a piece of paper as evidence of my shareholdings?" That is, can you get a stock certificate?
And the short answer is no. Certificates are very pretty, but they get lost and are an expensive pain for the transfer agent.
So iConsumer is "book entry" only. IssuerDirect, by law, is the sole keeper of the records of ownership for iConsumer.

We're working on making sure we post an update at least once a month (around the middle of the month) on our ShareholderAcademy blog.


Thank you!

The iConsumer Team
https://www.iConsumer.com

P.S. Remember that for each iConsumer referral you make you can earn 100 extra shares.
Encourage your friends to join and shop. Visit your personalized tell a friend page today.

rated:
Did any one received the email related to iconsumer shares transfer as below:
Your shares of iConsumer stock have been issued, and the record keeping for those shares has been transferred to IssuerDirect, our transfer agent.

For the moment, there isn't anything you should do.

The first week of February you should receive an email directly from IssuerDirect. It will look a lot like a bank statement. It'll list your iConsumer shareholdings, your IssuerDirect Account Number, and your PIN. Examine that statement and if something is off, please contact us for help. Normally, you'd contact them directly, but we'd like to know about any issues that you see.

Once iConsumer has a ticker symbol, and is actively traded on a market (we're shooting for the OTC QB), then there may be things you'll want to do. We hope to get those steps (and the other behind the scenes stuff that makes trading easier) done in the first quarter of 2017.

For instance, maybe you want a brokerage firm to handle your iConsumer shares (stockbrokers like Schwab or ETrade ). That way you can have your broker track your iConsumer shares. To do that, you'd instruct IssuerDirect to transfer your shares to your brokerage account.



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however i did not any email from issuerdirect until now.. just wondering we all are in same bucket

rated:
That's my situation, too.

rated:
Did any one received the email related to iconsumer shares transfer as below:
Your shares of iConsumer stock have been issued, and the record keeping for those shares has been transferred to IssuerDirect, our transfer agent.

For the moment, there isn't anything you should do.

The first week of February you should receive an email directly from IssuerDirect. It will look a lot like a bank statement. It'll list your iConsumer shareholdings, your IssuerDirect Account Number, and your PIN. Examine that statement and if something is off, please contact us for help. Normally, you'd contact them directly, but we'd like to know about any issues that you see.

Once iConsumer has a ticker symbol, and is actively traded on a market (we're shooting for the OTC QB), then there may be things you'll want to do. We hope to get those steps (and the other behind the scenes stuff that makes trading easier) done in the first quarter of 2017.

For instance, maybe you want a brokerage firm to handle your iConsumer shares (stockbrokers like Schwab or ETrade ). That way you can have your broker track your iConsumer shares. To do that, you'd instruct IssuerDirect to transfer your shares to your brokerage account.



------------
however i did not any email from issuerdirect until now.. just wondering we all are in same bucket

rated:
i got my issuerdirect email.. looking forward to seeing them being traded on open markets

rated:
Got an email for close to 2000 shares. They loaded opening balance as of 12/29. Is there current valuation? Seems like this should be a taxable transaction for 2016.

rated:
Got my email from IssuerDirect, too. I don't think this is a taxable event. On iConsumer website, there is a cost basis listed under "Transferred Shares". It looks like the cost basis is $0.045 per share. As explained at http://shareholderacademy.com/blog/learning_center/iconsumer-faq... , it's like we paid $0.045 to buy these shares, just not with cash, but with our time.

rated:
gnarlycow said:   Got my email from IssuerDirect, too. I don't think this is a taxable event. On iConsumer website, there is a cost basis listed under "Transferred Shares". It looks like the cost basis is $0.045 per share. As explained at http://shareholderacademy.com/blog/learning_center/iconsumer-faq... , it's like we paid $0.045 to buy these shares, just not with cash, but with our time.
I disagree.

First, iConsumer under "Transferred Shares" shows "cash basis", not "cost basis". Our cost basis is 0. Cash basis is the valuation iConsumer assigns to a non-traded stock and it does look it is $0.045 like you said.

Getting a material benefit in exchange for your time is earnings. Earnings outside of non-taxable account are taxable.  

rated:
Ok, found a better explanation that works for me. They treat this stock as in-lieu of cashback so it is a rebate which is non-taxable.

http://support.iconsumer.com/kb/a289/is-my-stock-taxable.aspx

rated:
FYI, the share statement from Issuer Direct arrived in my email yesterday but went to my spam folder. It did look kinda spammy, subject was "Share Statement for (doveroftke)" (yes, it had parentheses around my name), no message text, and a PDF attached. If you don't see yours, go look in spam.

rated:
I haven't provided my SSN to them. What's the current value of the stock? Is that going to be around $0.045 per share? If it is, I'm not going to bother. Any idea on when/where the stock is listed?

rated:
halluc1nati0n said:   I haven't provided my SSN to them. What's the current value of the stock? Is that going to be around $0.045 per share? If it is, I'm not going to bother. Any idea on when/where the stock is listed?

Two parts:

1. From an April 20 email:

"Help us grow a great company even faster.

We're adding an average of 200 members each day, up from just 62 a day in January. We're over 20,000 members changing the faces of Wall Street.

With your investment, we can grow your company
even faster.

Our stock price has gone from $.045 last year to $.09 this year. Before we raise it again (probably late April), invest to help us become even more valuable.

For as little as $25 (two drinks in a fancy bar) your investing gives us fuel to grow faster.

Wall Street built the competitors. Those investors won when those companies became worth billions. Now ordinary people are building the next wave - iConsumer."

2. Here's their April blog post. See in particular the last question and answer.

"April 2017 – Letter from the CEO

By: Robert Grosshandler | April 17, 2017

This month’s edition of my “everybody’s an insider” update is very sweet …
Marketing – Member and Investor Growth
20,000 Members. Lowered cost of acquisition.

Lots of great stuff going on. The most satisfying is that this past week we broke the 20,000 shareholder hurdle. We were able to do that because our cost of member acquisition continued to improve. We’re upping our marketing budget as quickly as our finances will allow. We believe in the old adage of “strike while the iron is hot.”

20,000 Shareholders

We’ve invested a lot of time and energy into our Change the Faces of Wall Street campaign. It feels good to see it working so well. Thousands and thousands of people have shared their faces with us and their friends because they believe the 99% can build a great business in a new way. They also appreciate earning an additional 100 shares per new shopper they recruit!

While it is too early to definitively measure the shopping behavior of these new members, it appears that they are shopping more, and shopping earlier, than our projections. We think that on average a new member is paying for themselves in less than a year.

This week we launched the first of our compensated influencer campaigns. Notable individuals who believe in changing the faces of Wall Street are speaking out on our behalf. We intend to roll out one or two similar campaigns each month.

We want to dramatically increase our rate of membership growth. That requires us to raise additional financing – buying ads takes cash. We’ve begun testing various marketing messages in support of attracting members and others to invest in our stock.

We’ll be giving members a chance to invest before we close our offering and probably raise our share price. We’re so proud that we got the minimum investment amount down to $25.
Investor Marketing

We’re testing investor focused advertising, and beginning to reach out to our members to make sure they can take advantage of our current share price, before it probably gets raised later this Spring.

One of our goals is to get the 99% involved in public company ownership. Building a new company in a new way. The $25 minimum investment is unheard of for companies at our stage of growth and financing. Interestingly, while lots of new investors are coming in at the minimum, many are choosing to invest more. The average is $125.
Financing & Regulatory Compliance
Cash, FINRA (Easier Trading), and the SEC

As mentioned above, we’ll need more cash to fund an increased marketing budget to grow more quickly. At the same time, we need to comply with some arcane FINRA procedures in order to receive a ticker symbol and move forward with our stock being quoted.

This means that later this month we will be closing our current offering. That means no new investors until we submit (and get qualified) a new SEC offering later this Spring. I anticipate that the new offering will reflect a higher price for our stock, in keeping with our increased growth. The SEC is taking about 60 days to qualify new offerings, but there are no guarantees.
Looking Forward

SEC regulations require us to file an annual report this month – a Form 1-K. It’ll contain our audited financials for last year. As always, you can see our latest SEC filings here.
Shareholder Education

We’re constantly adding to the material on Shareholder Academy and in our Knowledge Base to help you understand investing, and more important to us, investing in iConsumer. Many of our shareholders have never been involved as investors in a business before. The more we can help you with information, the brighter our future.
Become an Investor

We’d love for current member / shareholders to consider investing cash to help us grow. The $25 minimum is a wonderful way to get your feet wet. Learn more.

Disclaimer

AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. YOU MAY OBTAIN A COPY OF THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT AT https://www.iconsumer.com/offeringcircular.

YOU SHOULD READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT.
11 Comments

Chris N, April 21, 2017 at 2:13 pm

I’d like to know why Texas residents can’t contribute.

Robert Grosshandler, April 21, 2017 at 2:28 pm

Great question. Because the Texas securities regulators don’t recognize the exemption from the securities laws built into Regulation A+. Such a good question we’re going to write a longer explanation.

Ender, April 21, 2017 at 2:59 pm

With Mr.Grosshandler (hopefully he doesn’t handle his company grossly lol) asking 20% of each and every service, AND owning iconsumer to begin with, wouldn’t it be in his interest to lower his asking fee. With a lowered asking fee, (yes that’s less money in his pocket) iconsumer will have more income to invest in its future.

Unless we would like to see iconsumer go the way of igive (guess who owns that…. yup) it behooves the company to press upon itself to lower it’s own fees.

Build your company and the profits will follow Mr. Grosshandler

iConsumer’s operations are run on technology licensed from Outsourced Site Services, LLC (“OSS”), a company under common control, pursuant to an Amended and Restated License Agreement dated May 25, 2016 (the “License Agreement”), which is summarized under “Interest of Management and Others in Certain Transactions.” iConsumer pays OSS a license fee for the use of this technology, and it is the intention of Robert Grosshandler, who controls both companies, to reduce the fee over time, as described in “Management’s Discussion and Analysis.” Changes in the license fee will impact the company’s expenses and net revenue. Since Mr. Grosshandler controls both companies, and will continue to control iConsumer after this offering, he will have the power to determine whether the company will continue to be able to rely on the OSS license, and the price (whether at market rate, or above or below market rate) it pays for the license.

Robert Grosshandler, April 21, 2017 at 4:31 pm

I want to really thank Ender. Finally, somebody has read our offering circular (“OC”) and has some questions and comments. Our SEC counsel, when she learned that our logs showed very little reading going on, was crestfallen.

We worked long and hard to make sure we covered everything in our OC, and the relationship between iGive / Outsourced Site Services (“OSS”) and iConsumer was really important to get on the record.

The SEC really worries about “affiliated persons.” And I’m really affiliated.

The licensing fee iConsumer pays OSS includes services and technology. All the people who make iConsumer tick work for OSS. Nobody works for iConsumer. All the servers, bandwidth, cloud computing, backups, programming by teams on three continents, conversations with the stores, help desk staffing, and more are paid for by OSS.

More than 6 full-time people, between staff and contractors. And all that overhead.

Last year, as you’ll see when our audited financials are released later this month, iConsumer paid OSS less than $100,000. For services and overhead that I estimate cost me (because I own iGive / OSS) easily over $500,000. And no, my salary is not included in that number.

As an alternative, I could have lent iConsumer the $400,000 it needed to employ some of those six people and to pay its overhead bills itself. But then iConsumer would show a much bigger loss, have a much bigger debt on its books, and be less attractive to investors, which would mean that the stock price might not go up the way we want it to, which would be bad.

And, in the end, it’s all about the stock price. I certainly want it to go up. That’s a major part of how i win. And, because every member is a shareholder, that’s how our members win as well.

Again, thanks for your comments. Our engaged members are the reason we can blow the roof off this place and prove that we can build a great business in a brand new way.

P.S. Make your life easier and our profits larger. Get the iConsumer Button!

Laura Brigham, April 21, 2017 at 5:32 pm

Kudos Mr. Grosshandler – well done! And thank you to Ender. Looking forward to the opportunities presented.

Terrence Brannon, April 21, 2017 at 6:26 pm

Regarding shopping at Amazon.com it says “Amazon is different. You’ll get great deals, you’ll save money, you’ll help build value in iConsumer (your business) but you won’t get cash back or stock awarded for purchases made at Amazon.”

My questions about this are:

1 – will the prices for purchases be lower than if I simply visited Amazon.com without going through your portal?
2 – How will I help build value in iConsumer?

Robert Grosshandler, April 21, 2017 at 6:38 pm

This is a day for some great questions.

1 – No. But never higher. And maybe someday soon. We’re not big enough yet, but as we get more and more members, Amazon may want to work us to offer special deals to our members. And then, the answer will be yes! It’s one of the many ways that bigger is better for iConsumer.

I have Amazon as one of my favorite stores. Makes it really easy.

2- Amazon pays us a commission when you shop there via the links on our site or in our apps. The more money iConsumer makes, the more likely it is that the value of our company (your company) goes up. The price of a share of stock is supposed to go up when the value of the company goes up. That doesn’t always happen (stock prices are subject to many influences) but it’s very rare for stock prices to go down if the value of the company goes up, and it’s quite usual for the stock price to go up if the value goes up.

The SEC is always watching over our shoulders to make sure we don’t promise anything. But all things being equal, more profits translates into a higher stock price.

Ender, April 22, 2017 at 1:34 am

I assume what you’re telling me is that you are not trying to ‘fix the stock price. Martha Stuart is no one to look up to unless you’re trying to bake a cake.

Robert Grosshandler, April 22, 2017 at 9:08 am

We looked to Martha for our wedding ideas. That went well – 29 years so far. Her journey into jail for insider trading — not something I want to explore.

In fact, the whole point of this monthly “insider’s blog” is to give every shareholder in iConsumer equal access to information about our company.

I am definitely doing everything I can to affect the direction the price of our stock takes. I want it to be going up, up, up. I don’t control that, but I have a bit of influence.

We all have real influence . It’s the point I’m trying to make in this blog. Every time you choose to make a purchase via iConsumer, you help the stock price go up. Every time you make a purchase at Amazon, you really help the stock price go up. Every new member you refer means another chance to earn profits for iConsumer. Every dollar you invest gives us more money to attract new members. More members = more profits. More profits often (but not always (Hi SEC!)) translates into a higher stock price.

For the first time, customers win by being better customers. Together we’re building a great company where everybody has a stake in the outcome

Chris, April 22, 2017 at 1:43 am

Could you provide your stock symbol on the OTCQB market?

Thanks

Robert Grosshandler, April 22, 2017 at 8:48 am

We don’t have one yet. When we do, you’ll probably be able to hear me shout for joy. We have many steps to accomplish first.

1) FINRA is requiring us to close the current offering. We’ll do that later this month, at which point we can no longer sell stock to investors until we file a new offering and it gets qualified by the SEC.
2) A broker dealer applies on our behalf (again) to FINRA.
3) FINRA approves the application. 3- 6 weeks if all goes well.
4) We file to get DTC approval for our stock to be electronically transferred.
5) We get DTC approval. 3- 6 weeks if all goes well.
6) We seek a symbol from FINRA.
7) They get us that symbol. Supposedly 1 week.
8) We apply to the OTC to be quoted on their QB market.
9) OTC says yes. Supposedly 1 week.
10) I shout very loudly.

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