Skip to content

Ironic Public Offering

September 8, 2010

With its S-1 filed yesterday, a San Diego startup called Awareness for Teens, Inc., took the first major step in going public.  It hopes to raise $25,000 toward the launch of its “financial literacy and money management program for teenagers.”  As the filing explains, “many young people fail in the management of the first consumer credit experience, [and] establish bad financial management habits.”

We can safely speculate that program enrollees will be warned against frivolous and reckless spending.  They will presumably learn the folly of overextending their credit, of taking on substantial debt without a reliable source of income.

All of which allows us — if we are prone to cynicism — to see this offering itself as highly ironic.  As the familiar bold, all-caps risk factor language reminds us,

THIS OFFERING IS HIGHLY SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK TO THE PUBLIC INVESTORS AND SHOULD BE PURCHASED ONLY BY PERSONS WHO CAN AFFORD TO LOSE THEIR ENTIRE INVESTMENT.

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: