| Author |
Message |
Willis Huang (Willis360)
Intermediate Member
Username: Willis360
Post Number: 1133
Registered: 8-2001
| | Posted on Thursday, February 20, 2003 - 6:31 pm: | |
Jason, read the books and consult an attorney who's specialized on this stuff. Good luck! |
Jason Williams (Pristines4)
Junior Member
Username: Pristines4
Post Number: 125
Registered: 12-2002
| | Posted on Thursday, February 20, 2003 - 4:42 pm: | |
I apologize Willis.
Fred,
It's a pretty small company. 5 employees in all. I would mainly like to raise money for advertising and such. I make some as is right now, just by word-of-mouth, but when the site actually gets up and running smoothly, I hope to begin advertising in magazines and such.
Could you explain a bit more about the "reverse-merger"?
Thanks.
Jason- |
Fred (I Luv 4REs) (Iluv4res)
Member
Username: Iluv4res
Post Number: 340
Registered: 8-2002
| | Posted on Thursday, February 20, 2003 - 2:21 pm: | |
Jason,
You need to identify why you want to go public and the size of the company.
For a smaller company, a cheaper way to "go public" is through a reverse-merger. You find a clean shell that is publicly traded and reverse-merge your company into it. You can then offer additional shares to raise capital, etc.
If you have a large company, going public will involve top-notch lawyers, bankers and a strong resumed management team at the very least. A lot of the proceeds go towards this. Very expensive route.
Also, FYI, being public involves quite a few additional parameters. There are many SEC requirements, publications and hoops that you will need to go through regularly. In addition, you will always be under the public scrutiny to boost current share price, which sometimes conflicts with future endeavors.
Think about WHY you want to go public. If it's to raise capital, perhaps there are other ways to do so.
Please post more info on what you're looking to do. |
Willis Huang (Willis360)
Intermediate Member
Username: Willis360
Post Number: 1132
Registered: 8-2001
| | Posted on Thursday, February 20, 2003 - 1:59 pm: | |
You should at least make it clear that that's your business on the website. Under construction or not.
|
Jason Williams (Pristines4)
Junior Member
Username: Pristines4
Post Number: 124
Registered: 12-2002
| | Posted on Thursday, February 20, 2003 - 1:37 pm: | |
Willis and Tim,
My site is currently under construction - hence the reason there is only one page viewable.
We are currently putting together my stock list of performance parts.
I specialize in aftermarket performance parts for Acura, Audi, BMW, Ferrari, Honda, Nissan, MINI, VW, Porsche, Toyota, and many more. I also carry radar detectors and jammers, as well as a few posters.
Tim, haven't you asked this before? And haven't I explained it to you before? I seem to recall . . . |
Tim N (Timn88)
Intermediate Member
Username: Timn88
Post Number: 2417
Registered: 6-2001
| | Posted on Thursday, February 20, 2003 - 12:42 pm: | |
I dont think what you have could even be called a company. It doesnt look like you offer any products or services. I always thought this was a requirement of a company. |
Willis Huang (Willis360)
Intermediate Member
Username: Willis360
Post Number: 1131
Registered: 8-2001
| | Posted on Thursday, February 20, 2003 - 12:18 pm: | |
Jason, I looked at your website. I'm trying to figure out the nature of your business. Are you a car broker? I can't click on any of the car brands listed on the site. |
Rodney Haas (Icars)
Junior Member
Username: Icars
Post Number: 157
Registered: 3-2002
| | Posted on Thursday, February 20, 2003 - 11:19 am: | |
Jason,
Going public in today's market is not a real good idea. If your company is hot enough to make any money in the public sector, you could probably raise just as much from private offerings. I would get an attorney who can get you in contact with banking institutions who specialize |
Jason Williams (Pristines4)
Junior Member
Username: Pristines4
Post Number: 115
Registered: 12-2002
| | Posted on Thursday, February 20, 2003 - 10:49 am: | |
Thanks for the tips. :-)
Any more comments? |
Robert Callahan (Rcallahan)
New member
Username: Rcallahan
Post Number: 46
Registered: 7-2002
| | Posted on Thursday, February 20, 2003 - 9:29 am: | |
Jason,
My advice is to keep the company private. I don't know any of the aspects or goals of your company, but, other than getting a bunch of money, it's not worth it.
Bob |
TomD (Tifosi)
Advanced Member
Username: Tifosi
Post Number: 2799
Registered: 9-2001
| | Posted on Thursday, February 20, 2003 - 8:44 am: | |
you will need an securties attorney, a good accountant - prob big 5, a CFO with experience going public, an experienced management team and an investment banker to start. These days these guys have a lot of time on their hands but they ain't cheap and you better have something good and profitable - the days of smoke and mirrors are over - best bet - read the books you have ordered and then proceed |
Ken Thomas (Future328driver)
Member
Username: Future328driver
Post Number: 282
Registered: 12-2001
| | Posted on Thursday, February 20, 2003 - 8:32 am: | |
I am an attorney so this may sound self-serving, but you should probably seek some legal advice from an attorney that has experience taking companies public. |
Jason Williams (Pristines4)
Junior Member
Username: Pristines4
Post Number: 114
Registered: 12-2002
| | Posted on Thursday, February 20, 2003 - 8:21 am: | |
Does anyone know the specifics on how it's done.
Or perhaps a company I could contact to get a little more information from.
I already ordered "Going Public," but it hasn't come in yet, so I still know next to nothing.
Could someone give me some advice.
Thanks!
Jason- |