Add "Our business model consists of paying salaries to ourselves, using investor funds."
The regulations that public firms are burdened with are intended to make it possible for investors to figure out if these kinds of shenanigans are happening at your company. Private firms are exempt, because only sophisticated investors can invest in them, and they can do their own due dilligence/can afford to lose their investment.
If your crowdfunded startup is willing to provide enough information for your investors to be able to figure this out, you may as well take it public.
The regulations that public firms are burdened with are intended to make it possible for investors to figure out if these kinds of shenanigans are happening at your company. Private firms are exempt, because only sophisticated investors can invest in them, and they can do their own due dilligence/can afford to lose their investment.
If your crowdfunded startup is willing to provide enough information for your investors to be able to figure this out, you may as well take it public.