MISM: Franchising for the Future (The Future is Now) Message Board

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Microcap & Penny Stocks : MISM: Franchising for the Future (The Future is Now)

MISM 0.450

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Jan 21 4:00 PM EST

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To: Ned Land who wrote (645)	7/12/1998 11:15:00 AM
From: Leroyt	of 1072

To all on Private Placements: The following is my understanding of 504 private placements after discussing the issue with a corporate attorney a couple of months back. 504 Private Placements can be made up to $1 million. Stock is issued to the parties providing the financing. MIS apparently made a private placement early this year. Generally, the amount of stock is price well below the market value to the issuers are insured of recouping their money which the issuers often do to get their cash and move on. 504 Private Placements DO NOT have to be reported to shareholders until there are reported statements or annual reports. Since MIS is a non-reporting company they are under no obligation to report the PP. In general, I don't like PP's. Too secretive and often subject to abuse. But MIS apparently has used this funding to finalize these deals and in the process of trying to secure the loans. One of the previous loans (that fell through) required a $250k deposit just to initiate the loan process. I also understand that since PP's are secretive and often subject to abuse the SEC is considering outlawing their further use. This is probably a couple of years away. Another form of funding was Reg S (which I don't know the details on) but were very abused and are now outlawed by the SEC. I am sure that "Ned" understands that 504 PP's don't require a company press release. Ned has stated: "That's so sleazy". Either he is ignorant (which I don't believe) or trying to bad-mouth MIS. later and good luck to all MIS investors. Hoping the coming week is a good one. later, leroyt

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