Applying with the SEC for a 504d registration for ECOBANK
Many of us in this space are aware of the 'SEC', and how they can mess with a project, and thus cause many projects to not allow US citizens. I am firmly of the belief that these government institutions do more harm than good, smothering smaller projects and people while supporting the rich and powerful, but such is life.
It thus came as a surprise to me that for projects under 5 million USD raise, the 504d filing 'seemed' very easy to do.
So I started to do it!
First you have to register with EDGAR, and like any good government website, it is only 'open' monday through friday, with hours of 6am to 10 pm, and not 'open' on holidays. Seriously, the government doesn't even understand the internet yet.
Their 'continue with saved application' function does not work, so prepare to fill in the info as many times as is needed. Par for the course with the government making websites.
So you have to put in all the information, but also include all the information that you are filling out in a notarized document. So far I think this is the process -
- Fill it all out
- Print it out
- Notarize Print out
- Fill it all out again, this time with scanned notarized document uploaded.
- Actually do the filing.
Don't forget other random inconveniences like unspecified file name rules (camel case, literally industry best practice is not allowed) and incomprehensible document type explanations (CORRESP document type???).
And.... its still not working.
Let's call the number!
Their hours are 9 am to 5:30 pm EST - makes sense, I imagine I will actually talk to a human. But, I guess this will have to wait until tomorrow - for the 97th time.
This post is my proof that I have been trying to get this SEC filing done. More updates to come, I have been hustling hard and making great progress on all fronts - well, other than this SEC filling 😅
A blockchain receipt for the impossibility of this process might help in a future court case, but likely I won't be going back to the US any time soon. We are completely legal in Colombia, don't get bothered by the government, live in a mountain community that is completely comfortable saying F off to the government when they make silly rules.
I am heading up the US in June for a few weeks, this will probably be the last time in a long time. If you want to meet up with me - make your intentions known soon!