What issuer diligence actually looks like
The 121-folder standard: what gets collected, why it exists, and what it means when a listing carries it.
Every offering listed on the Deal Box platform carries an issuer-level diligence record before it goes live. The record follows a canonical structure: 121 folders, sections A through L, covering formation documents, capitalization, financial statements, material agreements, intellectual property, regulatory posture, and the offering documents themselves.
The structure exists because the exemption Deal Box operates under carries a corresponding obligation. A platform that hosts 506(c) offerings without charging investors must still be able to show that it performed issuer-level diligence on what it lists, and that the record is auditable.
For investors, the practical meaning is that a listing is not an advertisement. It is the surface of a diligence file. Verification runs first, the offering documents come from the issuer, and the underlying record exists in a form a professional can walk through folder by folder.
For founders, the same structure is the packaging standard: the raise does not ship until the record is complete. It is more work up front. It is also why the offering survives the first sophisticated investor who reads it closely.