What are the costs and benefits of raising private capital through the Nasdaq OMX Portal Market system?

I am hoping to receive responses from bankers whom have recent experience with the trading of the restricted securities currently being offered through the Nasdaq Portal Alliance system.

What is the success rate of issuers (on the Nasdaq Portal Market) meeting their fund raising goals? More specifically, with the success of pre-earnings and start-up firms that use the system to raise early capital.

How common is it for an entrepreneur with five years of real estate development experience to raise capital through the Nasdaq Portal, to fund the entrepreneur’s future commercial and residential developments? Is a sponsoring Broker or Stock Transfer Agent required to list on the Nasdaq OMX Portal system? Can the whole issuance, from beginning to end, be executed entirely by the issuing firm (through this Nasdaq Portal Trading System)?

I am currently a student in Financial Accounting at a university in California. I have been doing a bit of research on this topic of the Nasdaq Portal trading system. I hope to one day utilize it as an investment tool.

Any feedback is greatly appreciated.

I am not curious as to the NASDAQ PORTAL participants and all the bureaucratic nonsense that is currently happening, I am more interested in the results being realized from issuers utilizing the NASDAQ OMX MARKET PORTAL system – and in their ventures in acquiring private (sophisticated) investor capital.

The main benefit should be obvious – little regulatory oversight from the SEC.

It will be interesting to see the final form of the Portal Alliance after the financial market finishes its current gyrations. It appears at least six or seven of the original thirteen members no longer exist in the same form as when the Alliance was first formed.

"The founding members of The PORTAL Alliance are Bank of America, Bear Stearns, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, NASDAQ, UBS and Wachovia Securities"

If you’re "hoping to use the Alliance as an investment tool", you DO realize it’s open only to qualified investors with more than $100 million in assets, right? In other words, it’s the new old boys club.

Carpe diem