> PROPOSED ONLY: Profit shares would scale with pledge amount under the proposed structure. This is not a confirmed financial instrument. Nothing here constitutes an offer of securities.
There's no way they could get away with something significantly different, right? Like anything else they'd just be liable for being sued?
I guess Spirit will have most of assets liquidated before site author even finds a way to actually accept payments, and SEC won't care until that happens, it is too crazy even to waste time on investigating it.