The SEC and the Sundance Kik or How Alternative Fundraising Schemes Get Squashed

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By Vikram Ramakrishnan and Faizaan Shamsi, Vikram Ramakrishnan, and Faizaan Shamsi. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

We look at the SEC’s charging of Kik Interactive’s unregulated securities offering. We recap the SEC complaint, outlining their argument that Kik was a deeply underfunded, low-revenue, high-expense company that attempted a “hail mary” by circumventing securities law by running the Kin ICO. Finally, we step through the pieces of evidence the SEC presents.

Topics:

  • SEC put out a press release along with a complaint on Kik Interactive - SEC Charges Issuer With Conducting $100 Million Unregistered ICO

Links: Press release: https://www.sec.gov/news/press-release/2019-87 Complaint: https://www.sec.gov/litigation/complaints/2019/comp-pr2019-87.pdf Fireside #8: https://www.youtube.com/watch?v=irlVLDKKlr4

53 episodes