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[ira01]

Prosper got $40M of VC, not $20M..

Are we really sure Prosper got the entire $40 million?  Did the VCs write a $20 million check, followed by another $20 million check?  I suspect not.  I bet Prosper was promised $40 million, but the VCs make payments.  Perhaps 40 $1 million installments.  Which, undoubtedly, stopped when the securities violations were found. (I mean "quiet period" started.)   

It appears from their S-1 that Prosper received the whole $40M.  The investments were structured as stock sales, so the VC got Prosper stock and Prosper got VC cash.  Furthermore, Prosper's cash on hand, also from the S-1, is consistent with their receipt of the entire $40M.

[Senator]

Are we really sure Prosper got the entire $40 million?

No, it appears from their S-1 that Prosper received the whole $40M.

You mean "Yes" where you say "No", right?

[ira01]

Are we really sure Prosper got the entire $40 million?

No, it appears from their S-1 that Prosper received the whole $40M.

You mean "Yes" where you say "No", right?

My "No" refered to the latter part of your post, where you speculated that Prosper received the money in dribs and drabs which would have stopped, rather than in two $20M installments. 

[bamalucky]

I wonder if they had any of it invested with Bernie?

[Senator]

My "No" refered to the latter part of your post, where you speculated that Prosper received the money in dribs and drabs which would have stopped, rather than in two $20M installments. 

Thanks for the clarification.

[beerbud1]

I wonder if they had any of it invested with Bernie?

What would happen if they did?

[brianguy]

AFAIC, my state owes me some money.

[brianguy]

I wonder if they had any of it invested with Bernie?

I think you mean, you wonder if they were one of the folks who "made money" with Bernie 

[Investar]

Are there any summaries of what is currently happening?  Pages and pages of threads on here.  I have roughly $14,000 in loans still with Prosper, and I don't want them sold or anything as they are all current.

YES there is .. .. here:
http://forums.go4reward.com/the-prosper-marketplace/the-prosper-'quiet'-diary-millstones-and-milestones/

(edit to update URL to current SCP Forum format)

[beerbud1]

I spoke with my contact in the Florida Office of Financial Regulation and he tells me that Oregon, Missouri, and Florida are waiting on the sidelines to see What the SEC and NASAA are going to do next.
He said there is still some unresolved issues with NASAA and Prosper.

He led me to believe that Oregon, Missouri, and Florida are planning on filing suit against Prosper depending on what happens with the SEC.

[Senator]

Can anyone make a case that Prosper will survive these lawsuits?

Prosper as on-going concern seems quite unlikely.

[Fred93]

He led me to believe that Oregon, Missouri, and Florida are planning on filing suit against Prosper depending on what happens with the SEC.

SEC has settled.  Do they think there is more coming out of SEC?

[beerbud1]

He led me to believe that Oregon, Missouri, and Florida are planning on filing suit against Prosper depending on what happens with the SEC.

SEC has settled.  Do they think there is more coming out of SEC?

He told me to call him next Tuesday and he would give me an update at that time.

[Investar]

He led me to believe that Oregon, Missouri, and Florida are planning on filing suit against Prosper depending on what happens with the SEC.
He told me to call him next Tuesday and he would give me an update at that time.

Did you follow up since your post on the 12th? Did you get any hints about what the states might know is happening behind closed SEC doors? I interpret your report so far to mean possible OR, FL, MI plans are pretty much on hold pending final SEC action on Prosper's proposed platform? Thanks.

[beerbud1]

He led me to believe that Oregon, Missouri, and Florida are planning on filing suit against Prosper depending on what happens with the SEC.
He told me to call him next Tuesday and he would give me an update at that time.

Did you follow up since your post on the 12th? Did you get any hints about what the states might know is happening behind closed SEC doors? I interpret your report so far to mean possible OR, FL, MI plans are pretty much on hold pending final SEC action on Prosper's proposed platform? Thanks.

I just called him and the final agreement has not been signed yet, and prosper hasn't paid the fine yet to nasaa. He also told me Florida has not signed on to  the agreement yet.