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Gold/Mining/Energy : Venture Capital Pools
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To: Baywall who wrote ()8/18/1998 12:12:00 PM
From: Krazy Kanuk  Read Replies (1) of 3
 
Actually the VSE has already launched the VCP vehicle and I think it's going to be a lemon. I have read the details of the structure and requirements for VCP'S and I can tell you they will be unlikely to attract any business from people who understand the challenges presented "post-IPO". You must sell you seed at a price between $0.10 and $0.15. Then your IPO must be done NO HIGHER than double the price of the seed. To raise any reasonable amount of money you will have such a bloated float at such low prices that you will be cleaning up the market until the next Millenium. To make matters worse, it is required to be a completely "blind" pool. That means that the management CAN'T have any idea what major transaction it wishes to pursue. This isn't a vehicle, it is a fishing licence. I could go on but I suggest that you contact the VSE and get a copy of the outline for yourself, you will be amazed at the lack of foresight this document encompasses.

I will continue to favour JCP's as they are better structures for people that actually want to create something rather than "look" for a business and simply come up dry after spending all the investor's money. That is my take. Anyone read the structure differently, I would be interested in your interpretation.
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