504 Reg D and Beyond - Going public without an Underwriter Message Board

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Microcap & Penny Stocks : 504 Reg D and Beyond - Going public without an Underwriter

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To: Chloe R who wrote (22)	7/2/1998 6:56:00 AM
From: american dreamer	of 50

To respond further, in order for a company to file a 15c2-11 (through an approved broker dealer) and begin trading, a company must be a "C" Corporation and have a minimum of, I believe, 35 shareholders. These shareholders must have purchased their stock legitimately for value and must have held their stock for a minimum of 1 year so that it can be traded pursuant to rule 144. Soon, they will also have to have audited financials and file a SEC Form 10 in addition either prior to or after filing the 15c2-11. (probably within a certain time after). In the business these kind of companies are called "144 companies". The other ways to create a tradable stock is through the 504 or one of the several registrations with the SEC. I hope that answers your question.

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