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How Should A Firm Get Listed?
There are different methods to go public in the US. There are three key levels 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 particulars needed for reports or audited financials on the pinks, however, the pinks have established their own voluntary reporting system and enforce it by publishing symbols to denote the level of disclosure each company 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 expects 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 requires current audited financial statements. There are no fees 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 specifically for emerging and new companies, but clients with well known businesses will want to be on one of the developed and higher stock exchanges - 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 investors, required Board level committees, revenues, and market capitalization. In addition all exchanges want the company to maintain a current reporting status in the Securities and Exchange Commission (SEC). Listing on the exchanges 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 means to:
1) Grow your company faster and make it more strong by increasing your ability to attract "mergers", "acquisitions" and also "strategic partners;
2) Grow 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 cutting down the amount of time it will take to make money on your investment, and also increasing the valuation of your company, as well as, adjusting the liquidity of your asset to a much more liquid form than that of a private firm;
4)Raise money faster and cheaper by increasing the "liquidity" factor for your investors
Now most of these suggestions are for companies going public from scratch. For those of you seeking to buy a shell corporation (public shell), to go for mergers, then you might want to consider changing a quotation as stated above. For more information on this topic try googling phrases like "mergers companies" or "reverse mergers".
How Should A Firm Get Listed?
There are different ways to go public in the US. There are three major levels of listing: OTC PinkSheets, OTC Bulletin Board, and major exchanges.
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