|Tom Biscardi has filed for an initial public offering through the SEC|
In a Wall Street Journal article titled Bigfoot Isn’t Just a Mythic Figure, He’s an Investment Opportunity, a journalist reports on an initial public offering filed by Tom Biscardi to raise millions dollars by selling stock in Bigfoot Project Investments. With only sales and assets totaling a little over $6000 they are able to leverage a new 2012 law that allows start-up businesses to raise cash by offering stocks to the public through an exchange. Companies like Twitter have leveraged the same law.
Read an exerpt from the article below:
Mr. Biscardi and his partners hope to raise as much as $3 million by selling stock in Bigfoot Project Investments. They plan to spend the money making movies and selling DVDs, but are also budgeting $113,805 a year for expeditions to find the beast. Among the company’s goals, according to its filings with the Securities and Exchange Commission: “capture the creature known as Bigfoot.”Click the following link to read our entire coverage of Tom Biscardi dating back to 2008. Our favorite Tom Biscardi post is Finally! A Journalist Does Real Research on Tom Biscardi
Investment advisers caution that this IPO may not be for everyone. For starters, it involves DVDs, a dying technology, said Kathy Boyle, president at Chapin Hill Advisors. Then there is the Sasquatch issue. She reckons only true believers would be interested in such a speculative venture.
“This would be the kind of thing where if you believed in Bigfoot, or you thought there really was a Bigfoot and you actually had some money to burn and wanted to play with this, then go for it,” Ms. Boyle said. A lot of ifs.
It turns out the IPO doesn’t have many fans in the Bigfoot community, either. Purists are chafing at what they see as the crass commercialization of a serious pursuit.
Mr. Biscardi, who has trumpeted a number of Bigfoot sightings and captures that didn’t pan out, is a controversial figure among Bigfoot enthusiasts. In 2008, he held a news conference in Palo Alto, Calif., to detail his examination of what he said was the carcass of a male Bigfoot that checked in at 7 feet 7 inches tall and weighed more than 500 pounds. The Bigfoot, found by two men in Georgia, turned out to be a rubber gorilla costume stuffed with animal parts and outfitted with a set of teeth that may have been bovine in origin.
Asked about the incident, Mr. Biscardi said he had been deceived. But that hasn’t quieted skeptics in the community like Kathy Strain, who said she is astonished the Georgia debacle didn’t put an end to Mr. Biscardi’s pursuit of Bigfoot.
“It just makes it a big joke,” she said.
Ms. Strain has been fascinated with Bigfoot since she was a girl in California and mistook the 1972 documentary style film called “The Legend of Boggy Creek” as real. Now a 46-year-old U.S. Forest Service worker, she wants to bring the rigors of science to Bigfooting.
Mr. Biscardi is well aware of his many detractors and says it comes with the territory of being such a high-profile member of the Bigfoot community.
“When you’re king of the mountain, everybody’s trying to knock you down,” he said.