Profounder: Micro-investing?

How do they get around the SEC's "sophisticated investor" regulations? Ignoring them may make follow on rounds extremely complex -- if not impossible. Also, having a polluted cap table makes subsequent raises far more difficult. [Edit: By polluted, I mean having many, many investors.]

Just came across these guys. Looks interesting, to say the least. Former Kiva folks involved too, so they know how to do the micro thing. Curious from thoughts/experience/feedback from other HN types that have worked with these guys.

I hate to make a "me-too" comment, but I'm rather interested in this. I hope they're legit and aboveboard. Its hard to find people worth investing in.<p>How does this comapre to Kickstarter?

I know Profounder is in very early stage, but where is the interface for investors? It's important to see how investors will interact with the site.