The CrowdCheck Blog has an interesting post on “The case of the vanishing Form 1-A filings.” Most everything that was filed to date has disappeared, probably because of defects like lack of financial statements.
The initial filings seemed to be of low quality. I feel for the SEC staff, because it appears they will have their hands full as people lob in poorly conceived filings. It appears they will have to do more babysitting than assisting in capital formation transactions on simplified terms.
The high quality bona fide filings will come in time. I suspect that most of those have been filed confidentially and we’ll just have to wait to see those.
[Update: Some of the filings CrowdCheck said had vanished have reappearred. But I still think the SEC staff is going to have its hands full dealing with a lot of these filings.]