360 Sports, Inc. was notified by the Securities and Exchange Commission (SEC) today that the most recent Offering Circular has been qualified. The Offering circular was filed on April 3th, 2017 and allows 360 Sports, Inc. to continue selling shares on a continuous basis until April 2nd, 2018.
"This is a milestone for both 360 Sports, Inc. and small business owners in general", stated 360 Sports, Inc. CEO, Robert Licopoli.
The securities may not be sold nor may offers to buy be accepted before the offering statement filed with the Commission is qualified. The 360 Sports, Inc. Offering Circular shall not constitute an offer to sell or the solicitation of an offer to buy nor there would any sales of these securities in any state in which such offer, solicitation or sale be unlawful before registration or qualification under the laws of any such state. 360 Sports, Inc. may elect to satisfy our obligation to deliver a Final Offering Circular by sending a notice within two business days after the completion of a sale to shareholders that contains the URL where the Final Offering Circular or the offering statement in which such Final Offering Circular was filed may be obtained.
360 Sports, Inc. is offering a maximum of 20,000,000 of Class A Common Shares at a fixed price of $1 per share (one dollar) in a "Tier 1 Offering" under Regulation A (the "Offering"). This Offering is being conducted on a "Best Efforts" minimum/maximum. 360 Sports, Inc.'s Class A Common Shares are not listed on any national securities exchange or in the over-the-counter inter-dealer quotation system and there is no market for the Class A Common Shares. Please see Part II Item 14 for the disclosure of the Securities Being Offered in the Offering Statement.
The Offering will terminate on April 2, 2018; or when the Board of Directors decides that it is in our best interest to terminate the Offering. There is not a minimum required sale in order to effectively operate the company. Every dollar shall proportionately be applied to The Company's use of proceeds starting with management, technology, legal and accounting expenses. In the event 360 Sports, Inc. does not sell any Class A Common Shares by April 2, 2018, the use of proceeds will be adjusted to prioritize the capital investment received to be used on building out technology, marketing, legal and accounting platforms. The offering will commence within two calendar days after the qualification date and maintained in line with the Securities Act Rule 251(d)(3)(i)(F).
This Form 1-A is following the Offering Circular format rather than Part I of Form S-1. The purchase of the securities offered through this Offering Circular involves a high degree of risk. You should carefully read the entire Offering Circular, including the section entitled "Risk Factors" before buying any Class A Common Shares. Risk Factors section can be found by referencing Part II Item 3.