Where Should You Go Public?
There are several ways to go public in the US. There are three main stages of listing:
Here are the levels of stock listing.
OTC PINK SHEETS:
The oldest quotation service for over the counter securities usually called "the pinks". There are technically no prerequisites for reports or audited financials on the pinks, though, the pinks have instituted their own voluntary reporting system and enforce it by publishing symbols to indicate the level of disclosure each organization is subscribing to. To publish voluntary details requires fees of about $5000 a year.
THE OTC BB: The OTC Bulletin Board is managed by the Financial Industry Regulatory Authority (FINRA) and mandates that all companies whose stock is traded on the OTC Bulletin Board maintain their current reporting status with the Securities and Exchange Commission (SEC), which needs current audited financial statements. There are no charges paid to FINRA for this quotation, but maintaining a public company current with its SEC reports can cost $25,000 - $50,000 a year.
EXCHANGES:
The OTC PINK SHEETS and the OTC Bulletin Board are convenient stock markets particularly for upcoming and new companies, but clients with well established businesses will want to be on one of the developed and higher stock markets - Nasdaq Small-Cap, Nasdaq NMS or NYSE. Each of these stock exchanges has its own qualifications that a company must meet to be listed on the exchange. Usually the types of qualification factors they look for include asset levels, number of financial partners, required Board level committees, revenues, and market capitalization. In addition all exchanges require the company to maintain a current reporting status in the Securities and Exchange Commission (SEC). Listing on the stock markets usually involves charges in the range of hundreds of thousands of dollars.
For a US company a quotation on the US stock markets strengthen points. For Example, a quotation is a method to:
1) Grow your company quicker and make it more powerful by increasing your ability to attract "mergers", "acquisitions" as well as "strategic partners;
2) Develop your company faster and make it more powerful by improving its ability to compete for large corporate contracts;
3) Leverage your personal ROI as an owner by minimizing the amount of time it takes to make money on your investment, as well as increasing the valuation of your company, as well as, converting the liquidity of your asset to a more liquid form than that of a private firm;
4)Raise money faster and cheaper by increasing the "liquidity" factor for your shareholders
Now most of these factors are for firms going public from scratch. For those of you looking to buy a shell corporation (public shell), to try mergers, then you might want to look at changing a quotation as stated above. For more information on this topic try googling phrases like "mergers companies" or "reverse mergers".
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