COMMUNITY OWNERSHIP
Our goal is for up to 20% of In Progress to ultimately be owned by its community.
In Progress is exploring the legal structure for a Community Ownership Program through which community members could have an opportunity to own part of the company.
No ownership has yet been awarded through this program.
This page exists so the goal is written down in public while we work out how it could be done properly. Nothing here is an offer, and nothing here is a promise about what any one person would receive.
Proposed milestones
Our proposal divides the community goal into four portions of 5% of In Progress, together making up the contemplated 20%. Each portion is tied to a milestone in the number of qualifying artists and collaborators.
1,000
Proposed 5% of In Progress
10,000
Proposed 5% of In Progress
100,000
Proposed 5% of In Progress
1,000,000
Proposed 5% of In Progress
These are proposed milestones, subject to the final program structure and applicable requirements. Reaching a milestone does not automatically award ownership. How any future portion would be shared among eligible community members has not been determined.
We are starting with artists and collaborators. Each account counts once after publishing a qualifying public Session or having a contribution accepted in another artist's Session. Signing up or listening alone does not count toward these milestones. Demo, test and internal activity is excluded.
Community participation
We record Sessions created, changes saved, contributions sent and accepted, Sessions and official cuts published, and collaborations completed. Your contribution record shows your recorded activity, active days and whether your account counts toward a milestone.
This usage record does not determine what anyone would receive through a future Community Ownership Program. No formula for distributing a future community portion has been set.
Community Points
Community Points recognise real contribution to In Progress. You earn them for making music here with other people:
Community Points and the Community Ownership Program are separate. Points recognise what you have contributed here. They do not convert into ownership, and there is no conversion to announce. Telling us you are interested in ownership earns no points, and you never have to tell us anything to earn them.
Ways to contribute right now
Tell us you are interested and we will keep you posted as this takes shape. It commits you to nothing.
In Progress is considering a future offering of securities that would be exempt from registration under the Securities Act of 1933. In Progress has not yet determined the exemption from registration it may rely upon for any future offer or sale.
No money or other consideration is being solicited, and if sent in response to this communication, it will not be accepted.
No offer to purchase securities can be accepted, and no purchase price can be received, until In Progress determines the exemption under which an offering would be conducted and satisfies any applicable filing, disclosure, qualification, intermediary, or other requirements.
Any indication of interest is non-binding and involves no obligation or commitment of any kind.