Reg,SCOR,Offerings,Reg,SCOR,Of finance, share, loan Reg D/SCOR Offerings
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Reg D (SCOR) OfferingsBy William CatePublished May 2000[http://home.earthlink.net/~beowulfinvestments/] [http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/] I don't fund private companies! Without liquidity, professionalmoney isn't interested in your company. See my "Simple Secret" report fora discussion of the need for liquidity. Section 12 Para 504 Reg D of the 1934 Securities Act allowsentrepreneurs to raise up to one million U. S. Dollars from the public. Youdon't need an audit. Your offering is exempt from a review by the U. S.Securities and Exchange Commission (SEC). About 38 States, relying on thisprovision, allow entrepreneurs access to investors under the SCOR (SmallCorporate Offering Registration). If you don't file with the SEC or yourState, you aren't protected from investor action, should anything go wrongwith your company. Since the odds of investment failure are over 95%, youare inviting serious legal problems, if you don't do the simple Governmentfiling. Any book on "going public" will give more help on doing the properfiling.In January 1998, "Money" published an article on the success ofRegD/SCOR offerings. Then, the entrepreneur had one chance in four ofraising at least $200,000. This means that 75% of the entrepreneurs doingREGD/SCOR offerings were wasting their time. Your odds of success areprobably worse today. Starting in June 1999, the National Association ofSecurities Dealers (NASD) stopped the listing of RegD/SCOR offerings fromtrading on the OTCBB. Without OTCBB liquidity, investor interest inRegD/SCOR offers has declined.Until 1984, there was strong interest among many American brokeragefirms to sell RegD/SCOR offerings. They were sold as Tax Shelters. The1984 Tax Act ended the use of Tax Shelters. By 1987, most brokerage firmswere no longer interested in RegD/SCOR offerings. Today, I'm unaware of anyNASD member willing to sell a RegD/SCOR speculation to their clients.Without a professional network to sell the RegD/SCOR package, the officersand directors of the company are the only LEGAL sellers of these RegD/SCORpackages.I stress legal sellers, because there's no shortage of "Finders"willing to hunt investors. The "Finders" should talk to their attorney.They would learn that they can't act as a financial broker without beinglicensed. Part of the license requirement is that you are a member of theNASD. The reason that "Finders" rarely have a regulatory problem is theyrarely find a speculator to investor in a RegD/SCOR offering. Over the past20 years, I've seen hundreds of "Finders" come and go. They try to raisemoney for a year or two. They fail. They disappear. Someone else thinksthat they can make money as a "Finder." It's a procession that goes nowhere.Raising risk capital is a dangerous business. If you don't do itright, and something goes wrong, you may spend over one million dollars onlegal fees. If I were seeking money for a private company, I wouldn't wastetime and money on a RegD/SCOR offering. My advice is create cashflow. Does your group have a limitedbudget? Do a turnaround to have cashflow. Take your company public via aspinoff. Strengthen your share price and use your strong share price to buycash-producing assets. In a few years, seek to sell your company at MarketCapitalization. It's the only formula that works well. It will work as longas we have a Bull Stock Market. This Bull will pass. Start now or sufferin the Bear Market that must follow. This is your golden opportunity forsuccess. If you don't grab your brass ring soon, you probably won't getanother chance in your lifetime.To contact the author: Visit the Beowulf Investments website: [http://home.earthlink.net/~beowulfinvestments/] Or, visit the Global Village Investment Club Website:[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/] Article Tags: Regd/scor Offerings
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