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February 20, 2014, 11:27:15 PM |
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I'm familiar with the Small Company Offering Registration (SCOR) that is available in some states in the US.
Its a "low-doc" way for a company to become public -- essentially allowing it to raise capital from anyone (vs the typical SEC rule for "high net-worth" individuals not related to you) -- obviously you can sell stock to "friends/family/fools" on a small basis.
Most SCOR registrations allow you to sell up to $1M every 12 months, and I think the stock needs to have a minimum par value of $1.
Most of these little companies have classically traded on "bulletin-board" exchanges.
AFAIK, but IANAL, you can operate your own private bulletin-board for your share holders.
You can CERTAINLY have buy-sell agreements in place that can preferentially allow the company right of first-refusal to re-aquire.
ERGO...I wonder if this would be a viable method to establishing a legal micro-exchange, effectively sanctioned by your state?
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