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Posted On: 04/18/2023 8:21:09 PM
Post# of 85938
Doc mentioned SEC last step also that is a requirement for Nasdaq. Since we are a non IPO.
SEC registration
Exchange Act Registration
Even if your company does not have an effective registration statement for a public offering, it could still be required to file a registration statement and become a reporting company under Section 12 of the Exchange Act if:
it has more than $10 million in total assets and a class of equity securities, like common stock, that is held of record by either (1) 2,000 or more persons or (2) 500 or more persons who are not accredited investors
Looks like we have to get 10 million in assets not a problem with Doc current companied. But he will have to merge companies and register. Could be just a few days on the OTC. It's my opinion that Nasdaq application could be filed already. Finacial just have to be merged with private companies and combined financial filed with the SEC.
I might be mistaken looking for other opinions. I only owned a class S corporation so my best guess
SEC registration
Exchange Act Registration
Even if your company does not have an effective registration statement for a public offering, it could still be required to file a registration statement and become a reporting company under Section 12 of the Exchange Act if:
it has more than $10 million in total assets and a class of equity securities, like common stock, that is held of record by either (1) 2,000 or more persons or (2) 500 or more persons who are not accredited investors
Looks like we have to get 10 million in assets not a problem with Doc current companied. But he will have to merge companies and register. Could be just a few days on the OTC. It's my opinion that Nasdaq application could be filed already. Finacial just have to be merged with private companies and combined financial filed with the SEC.
I might be mistaken looking for other opinions. I only owned a class S corporation so my best guess
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