Here's the problem. In the US you could probably go after them and win a lawsuit, but unless you're going to pay a top securities attorney $800/hour it's unlikely you'll find someone to sue on a contingency fee unless Rentberry goes out and raises tens of millions. If you lost a lot of money you can try someone like https://www.silvermillerlaw.com/.

The second problem is that savvy investors will not invest in Rentberry. Why do you think they went the reg-cf route instead of the VC route? It's very strange for a company that's raised VC money to go reg-cf. The likely reason Rentberry did it is that no respectable VC would invest in them. Besides the fact that they're a huge lawsuit risk due to the ICO disaster, all you have to do is to just look at their traction- it's awful for how much they've raised.

So even if you win a lawsuit, they won't have many physical assets as they're running out of cash- and their platform and digital assets aren't really worth that much. The value of most real estate portals is derived from a combination of tech and visitors. Rentberry's tech is something you can build out for under $1 million and for a global site they have a pathetic number of visitors.
Put it this way- even ignoring big markets like NYC, there are local sites in small markets like Nashville that have more traffic in their small market than Rentberry has globally. This is important because you need a lot of traffic in a geographic area to be able to monetize your product. If you have 50,000 visitors in Nashville and you're a market leader there, everyone will know you and you can monetize easily, as customers will come to you. If you have 50,000 visitors spread across 1,000+ markets as Rentberry does, nobody will know you and you have to hire salespeople to try and monetize your product. The value you provide as the 30th largest site in a market is also minimal so you'll also have incredibly high churn rates and you likely won't be able to be profitable in any market. So a site with 50k visitors in 1 market can be very profitable while a site with 50 visitors in 1,000 markets is basically going to be losing money in every market it's in.

It's a reg-CF filing and requires a lot of disclosures. In the documents they filed with the SEC as well as on their offering page they claim to have 2019 revenues of $4,398,259. They also claim a 2019 profit of $1,769,739. The issue is that in their financial disclosures these revenues and profits are just from the sale of the ETH raised during the ICO. The actual revenues from the Rentberry platform are almost nothing as they claim $1,530 in monthly revenues and $250,000 in monthly expenses.

Another interesting point is that they project $5 million in 2020 revenue. This seems very strange considering the monthly revenue so far this year is $1,530/month. My guess is this either means: a) they have ICO funds somewhere that they will run through the system as "shill revenue"; or b) they made a forward-looking projection that is potentially fraudulent. Forward-looking statements generally need to be based on a past track record and unless they plan on another ICO scam they have no way of meeting this projection. The track record of their platform seems to be one of little revenue and traction. The only thing they've been good at is duping investors out of their money. This statement has the potential to lead to all types of trouble as it seems to be very misleading and potentially fraudulent.

The reason they've raised over $700k is because they're claiming their ICO proceeds were revenues. So basically, Rentberry's position right now is if you bought Berry tokens you bought a type of worthless airline miles. Their actual revenue in the past 3 months is $1,530/month, but that's in the fine print. Instead, they show over $4 million in revenue which is likely from the ETH they were holding after their ICO.

It's really very shady, and just a money grab. They're currently claiming to be operating at a $250k/month loss so I feel bad for the folks investing in this offering.

Here's an update on Rentberry for you- https://bitcointalk.org/index.php?topic=5251742.0

One of the biggest crypto failures is at it again. After raising over $20MM worth of ETH and seeing their token holders lose over 99% of their investment, Rentberry is no longer focusing on blockchain and moving onto new victims- reg-CF investors via Wefunder. Rentberry claims over $4 million in revenue in 2019 (revenues from selling their crypto holdings it would seem). But in their audited financials, they're only doing $1,500 a month in real revenue over the past 3 months. What sort of due diligence is Wefunder even doing?

https://wefunder.com/myrentberry/about

The tax implications and other issues regarding structure are certainly important, but the big regulatory concern in the US is really regarding securities law and trading of the tokens. That's the biggest hurdle as it really decreases liquidity and essentially kills the main advantage of tokenization (which would be democratized access to real estate investments). If you look at crowdfunding in the US via regulation-CF you'll see how the US efforts to introduce new ways for startups to raise money have failed. There's so much red tape and regulation that even though someone might be able to become an investor in an early stage startup and invest as little as say $100, it's literally a more complicated process than getting a mortgage (you basically have to go through a type of KYC, provide your social security number, income, multiple disclosures on risk, etc). And that's not even considering the difficulties reg-cf portals have with escrow and accepting different types of funding as that's more or less solved by using crypto.

Our founder recently wrote an in-depth article on tokenized real estate. This is useful to anyone interested in better understanding the challenges involved with tokenizing real estate, specifically the legal and regulatory concerns. The article also briefly explores the idea of real estate based loans on blockchain, which present a fantastic use case, and possibly alleviate many of the regulatory concerns as debt notes can be easier to structure in a way as to not have them deemed securities.

https://propertyclub.nyc/article/real-estate-tokenization

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If we're only looking at ICO's KYC/AML is pretty much mandatory right now. I can tell you that no respectable law firm will work with your ICO if you don't do it at the moment and there's a good chance you'll have the SEC or local government regulators knocking on your door as well.

Right now everyone's talking about the ICO scams and potential SEC crackdown in the US, but there are also other important questions for example if the SEC considers all tokens to be securities wouldn't it technically be illegal for any token holder to sell their tokens/coins to another person. I'm not too sure of the answer, but I know that investors in startups that are not publicly traded cannot typically resell their stock (or would have to jump through many hoops to do so). This is why regulating crypto and alt coins is going to prove very tricky.

Just thought I'd throw in my input as my company just announced our ICO. A lot of sites and experts have contacted me about promoting the ICO and in my opinion most are scams. The experts basically just trumpet out any ICO that pays their fee. One of the few good sites I've found is icodrops.com which curates the ICO's they select. Can't say I've found any others that are all that good.

Your personal info should be very safe if the ICO isn't a scam. Most ICO's need to be GDPR-compliant and could face major fines if they aren't.

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