So, if you are a Linux company with $157k in losses, $0 in revenues and no history of operations, what do you do? Go public. Excerpt from Monday's Wall Street Journal:
interactive.wsj.com
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LinuxOne Inc., a Mountain View, Calif., provider of Linux software and services, hopes to cash in on the Linux craze with an initial public offering as early as Monday.
It expects to raise as much as $24.8 million in an offering of three million shares, the company stated in a filing with the Securities and Exchange Commission. The proposed price was raised last week to $8.25, up from the $6 to $8 LinuxOne had previously estimated.
LinuxOne, however, admits in the risk factors noted in its filing that "we do not have a history of operations." The company was only incorporated last March, and through Oct. 31 reported zero revenue and operating losses of $157,896.
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Hope everyone had a good Christmas.
-Eric |
