StartEngine is a SCAM to lure in investment money from retail investors and RUG PULL their money to further benefit the upper 1%. THIS is an example of how Capitalism is failing our country. Let me explain:
I like the idea of Start Engine. Giving non institutional investors an opportunity to get in early on projects. Does that mean every project succeeds . . . of course not. You still have to research and follow what's happening, but if you find something you believe in it's nice to get a chance to get in early without already being a BILLIONAIRE.
I had been watching Boxabl for a while. I loved the idea, affordable housing constructs, and I believed this could have a real impact. Having not used StartEngine before I was testing the waters with a small investment, $1500. This purchase at the time was for shares at $.79 which gave me 1875 shares in April of 2025. To get on the NASDAQ, Boxabl merged with FG Merger II Corp (a SPAC). In doing so, OUR SHARES (mine and I'm sure all others like me) were transferred to the SPAC first and then to Boxabl which diluted and devalued EVERY SINGLE STOCK that a retail investor buying into Start Engine placed. This is also called a RUG PULL as if it were a Crypto exchange, or in more social terms, the FACEBOOK EFFECT. This is the ENTIRE purpose of START ENGINE. Scam investors out of their money to benefit the larger/wealthier investors so they can get out early and get their profits.
My 1875 stock buys have been reduced to 148 shares of "preferred stock" and now my $1500 investment a year and a half ago at $.79/share is worth only $580. FIVE HUNDRED AND EIGHTY DOLLARS as an EARLY investment into a company pre-market.
Start Engine is a whole system just to grift on retail investors and screw them out of their money while benefiting the larger investors. DO NOT USE THIS COMPANY!!!
If you have also invested with Start Engine and experienced the same outcome, please let me know. I am working to put together a class action against this company because it's clear that the have NO INTENTION of benefiting the retail investors they are attempting to court through their website.