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Biotech / Medical : Provectus Pharmaceuticals Inc.
PVCT 0.0648+8.0%Nov 11 3:24 PM EST
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To: Howard Williams who wrote (12521)11/5/2013 10:40:09 AM
From: boomertree23 Recommendations

Recommended By
Howard Williams
Jack Russell
Khris Smith

   of 13111
 
Reincorporation from Nevada to Delaware doesn't seem that big a deal, but it really is in the corporate governance world. Nevada is the scumbag incorporation state.....it's incorporation statute has every pro-management protection provision and every negative shareholder interest provision. In my mind the company's incorporation in Nevada said a lot about management focusing on protecting its interests over the interests of the shareholders. The Nevada incorporation has likely been a big impediment to institutional investors taking serious interest in the company. The Delaware incorporation statute is the gold standard and should give all investors comfort and provides greater legitimacy regarding company governance and accountability. The Delaware Court of Chancery that enforces the Delaware incorporation statute is the most sophisticated and respected in the US. The name change is more window dressing, but the incorporation state change is substantive.

See the following article on Nevada as the incorporation state scam haven: lasvegassun.com
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