SleepDrops campaign – what happened and next steps

    Sleep Support System Limited, one of the companies in the SleepDrops group, is equity crowdfunding through PledgeMe to fund their expansion plans. So far they have had $784,034 pledged, exceeding their $500,000 goal. You can view their campaign here.


    There has been a high level of interest in the campaign, and queries were raised with SleepDrops, PledgeMe and the Financial Markets Authority. The questions mainly focussed on the financial information provided, the ownership of the IP, the licence agreement and the new building.


    The campaign was put on hold while a review was completed, and SleepDrops prepared responses to the queries. The responses were reviewed by lawyers, an independent accountant, and provided to the FMA.


    The campaign has now been relaunched, with a revised Information Memorandum addressing those questions, as well as an update post and email to all pledgers.


    The campaign will now run until Friday, 28 December at 5pm. Existing pledgers have the opportunity to withdraw their pledge by emailing before the campaign closes.


    Please review the revised information, and if you intend to pledge ask questions, and seek independent advice.

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