I don't think most people understand the *legitimate* reasons that a company goes public. The main one is that they are trying to raise capital. If it's a legit business, they really don't have much reason to go public on the BB. I know of three businesses that were "advised" to go public on the BB (as opposed to working much harder and going on the Nazz or just borrowing the money CHEAPER at a bank) and they totally regret it. The only people that did well on the deals were the underwriters. They ought to call them underTAKERS.
It's not that hard to get on the Nazz, after all. I mean, it's a pain, but hey, that's part of the game. That's part of the reason it's hard, to try and keep the real bad boys in line. You have a business, the business is legit, you are making money, you can get on the Nazz. You can get on the Nazz even if you have never made a single penny in earnings!
So why WHY do these companies go public on the BB? You know? What is the friggin' point? Hello...
There are two I remember clearly. One was a company that claimed they were making money hand-over-fist with porn sites. Porn sites are big money makers. Porn sites are raking in the money (true, they are).
So if this company is making all this money, WHY DO THEY NEED TO RAISE MONEY BY GOING PUBLIC???
And assuming they need the money for more porn sites or whatever, WHY THE BULLETIN BOARD??
Like Doh! What is wrong with this picture, you know?
And the other one was A BANK!
A BANK!
A BANK goes public on the BB.
That's like a guy with blood on his shirt and a sawed off shotgun that comes to your front door at 3 a.m. and says, "I'm a girl scout, you wanna buy some cookies? Tell ya what, give me a thousand dollars, and I'll bring you a box of cookies at some point in the future maybe if I can, OK?" |
