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Attention Investors:
The state of Kansas has a program called the Kansas Angel Investor Tax Credit program. Through this program, qualified Kansas companies can offer investors a tax credit equal to 50% of the amount they invest. These are state of Kansas tax credits. They can also be issued to non-Kansas residents and sold back to Kansans for cash. Their cash value is around 80 to 85% of their face value. In other words, Kansas residents get half their investment back via these credits and non-Kansans get around 40% of their investment back in cash within months of the initial investment.
HyperBorean has issued some of these tax credits this year. The state has pulled all of the unallocated credits back into its pool and will give approved companies a final allocation that must be used between November 1 and November 15. I think that HyperBorean will probably be given $200k in credits to issue to investors on 11-1. The two week deadline is pretty tight to bring new investors up to speed on the company, allow them time to conduct due diligence and then close a funding deal.
For more information on this, email Dick Sommerstad at sommerstadpc@gmail.com.
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