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4 Steps to Success In Life, Business, The Universe And
Everyone wants to succeed in life. And no one starts a business of any sort, on-line or off-line, wanting to fail.
Yet the sad fact is that 80% of offline and 97% of internet businesses will fail in the first year. 84% of internet businesses...
Become An Affiliate Champion: 10 Tips
Affiliates programs are one of the easiest ways to make money in the internet. Small fortunes have been made for smart people who have taken advantage of this powerful marketing technique.
This tips intend to help you on your way to become a...
Choosing a Mortgage Lender
Just as there are many types of mortgages and mortgage deals to choose from, there are also many sources where you can go to get a mortgage. Your key choices are to use a mortgage broker, a more general financial adviser, or shop around yourself and...
I Can't Afford A PR/Publicity Campaign -- Can I?
It’s a phrase I hear over and over again from many entrepreneurs, small businesses owners and inventors: “I’d love to hire someone to launch our publicity campaign professionally, but we can’t afford it, so I’m just going to have to do it on my...
Naming Names... How to Name your Business, Product or Service
Sometimes the best inspiration comes from hearing about the deconstruction of other company's names. For you, I am happy to share how I came up with "Slice A Day :: your slice on marketing"...
First the purpose and vision of my site was to...
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Small Corporate Offering Registration (SCOR)
The Small Corporate Registration was designed specifically for
small businesses. It allows small companies to raise equity or
debt capital publicly without having to register with Securities
and Exchange Commission. It is designed to streamline the state
review process by using standardized forms and reviews. Each
states separately reviews the company's filings and issues a
permit allowing general solicitation to the public in that state.
Permits are generally issue within 30 days ( in Nevada) or it
may take up six months (as is the case in California) depending
on each state's regulatory standard.
This form of registration is available to small securities
issuers pursuant to Regulation D, Rule 504, of the Securities
and exchange Act of 1933, as amended.
It allows small companies to be able to raise up to one million
dollars in equity financing with certain limitations and
guidelines. This program is known as Registration By Exemption
because it is basically a hybrid between a public offering and a
private placement.
This type of offering is often referred to as DPO, or Direct
Public Offering because the stock can be sold to the public
without the use of an underwriter or agent (Broker). These
securities can also be sold to the public and be resold into
established secondary market.
Under an SCOR offering a company can advertise for investors,
and sell securities to anybody who expresses an interest, this
provides a great advantage over a 504 offering where the
offering is restricted to only 35 non-accredited investors.
Being able to list the securities on the Nasdaq Bulletin Board
or the Pink Sheets is another positive for DPO's because it
makes the investment more liquid and appealing to investors.
You can anticipate receiving comments from examiners in many of
the states in which registration is sought, depending on the
regulatory approach taken by the state, those comments may be
limited to request for disclosure of additional information or
may require certain terms of the offering to be modified with
the states fairness laws.
Failure to resolve outstanding comments can lead to denial of
application for registration by the state. The states may make
applicable substantive fairness standard as an appendix to the
filing instructions or make use other means to make the
available.
SCOR offering may be done in selected states and it requires
audited financial statements. An experience securities lawyer is
required, one that is familiar with the process and is familiar
with states requirements.
The issuer must be incorporated since it will selling stock in
the corporation, It must have a Business Plan because much of
the information required in the offering circular can be taken
from the business plan.
A company should gauged investors interest in the offering
before launching a DPO. Some of the advantages of a DPO are that
it be
advertise to the public, the company can solicit
investors, and it works best when offered directly to targeted
group.
These groups are referred to as affinity groups or groups that
have some type of connection with the company, its product or it
services. A company that can easy contact its customer has an
advantage over one that may have many customers but no
information on them at all. For example a company in the medical
field may target doctors, but since it is impossible to know all
the doctors in the area it may need to purchase a list of
doctors from a direct mail company.
Regulation D 504 does not require audited financial but you can
only sell to 35 non-accredited investors the rest must be
accredited. Soliciting and advertising for investors is not
allowed.
An accredited investor: · A natural person who has individual
net worth, or joint net worth with the person's spouse, that
exceeds $1 million at the time of the purchase. · Accredited
investors are natural persons with income exceeding $200,000 in
each of the two most recent years or joint income with a spouse
exceeding $300,000 for those years and a reasonable expectation
of the same income level in the current year. · A broker/dealer
registered with the Commission under the Exchange Act purchasing
for its own account as an investment is included. [Rule
501(a)(1)]. · A trust with assets in excess of $5 million, not
formed to acquire the securities offered, whose purchases a
sophisticated person makes. · A charitable organization,
corporation, or partnership with assets exceeding $5 million. ·
A director, executive officer, or general partner of the company
selling the securities. Regulation D 504 Is easy, fast and
inexpensive to prepare. No underwriter, broker or agent is
required, stock may sold company employees.
None of these type offerings are one-sized fits all each must be
evaluated on its on merit and the needs of the company. Nor are
these the only options.
Upon completion of the offering the company must request for a
Market Maker to file a 15c211 to have the shares of the company
publicly quoted.
For additional information please visit:
http://www.genesiscorporateadvisors.com
Joseph Quinones, President of Genesis Corporate Advisors has
spent over 25 years in the securities industry. In 1992 he
founded JDQ Financial Group, Inc. and proceeded to build it up
from a one Man operation to the point where it employed many
traders, advised numerous client, and generated millions in
revenues. http://www,genesiscorporateadvisors.com
About the author:
Joseph Quinones, President of Genesis Corporate Advisors has
spent over 25 years in the securities industry. In 1992 he
founded JDQ Financial Group, Inc. and proceeded to build it up
from a one Man operation to the point where it employed many
traders, advised numerous client, and generated millions in
revenues. http://www,genesiscorporateadvisors.com
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