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Microcap & Penny Stocks : 504 Reg D and Beyond - Going public without an Underwriter -- Ignore unavailable to you. Want to Upgrade?

To: micky who wrote (27)	7/2/1998 12:43:00 PM
From: Chloe R	Read Replies (1) \| Respond to of 50

Thank you both. That clears up a lot. But a company bsically has to be a C corp for 1 year with at least 35 shareholders before the 15c-211 applies? Are there any other restrictions also? I'm just wondering whether a reverse merger only makes sense for companies that don't meet that criteria or not. Clo

To: micky who wrote (27)	7/8/1998 11:48:00 AM
From: Chloe R	Read Replies (1) \| Respond to of 50

micky and A.D., I wanted to ask my brother this but I can't get a hold of him. There's a private company I looked at for the first time last week that's doing a 504 for $1 mill in a couple of months but they said I could get in now in a convertible debt arrangement (at a discount of course). Fair enough, but my question was whether such an arrangement reduces the $1 million cap or not or can they float as much convertible debt as they want? I'd never really thought about it before. Thanks in advance, Clo