This entry is part 6 of 11 in the series OTCBB Shells – The Reverse Merger Process
OTCBB Shells – The Reverse Merger Process

By Ralph Amato

Preliminary Review of the Shell Corporate Profile

Once the Buyer has received a copy of the Shell Corporate Profile he will perform some preliminary due diligence before deciding to move forward with the transaction. If the Buyer is represented by an experienced consultant then the preliminary due diligence will be performed by them. This is a crucial part of the transaction for the Buyer does not want to engage the services of an SEC attorney until he is certain he has a viable shell to purchase. I have seen many a Buyer hastily send the Shell Corporate Profile directly to their attorney with the end result being a huge bill and a shell that does not meet the due diligence requirements for purchase.

The most important part of the preliminary due diligence is reviewing all of the SEC filings of the shell company. Let your consultant handle this. He should be able to ascertain whether you can move forward with the transaction. The quickest place to see all of the SEC filings on an OTCBB company is at www.otcbb.com . The most thorough and comprehensive site for reviewing company SEC filings is at www.sec.gov . The information in the SEC filings will determine who has control of the company, how many shares are outstanding, if there are any outstanding liabilities or litigation, etc. The filings will also give your consultant a substantial amount of information to quiz the Seller, which is usually the CEO of CFO of the shell company.

Ventana Capital Partners assists Buyers and Sellers of OTCBB shells with the purchase or sale of their shells. We can be reached at Ralph@ventnancapitalpartners.com or you can call 858-729-0075.

Series Navigation«OTCBB Shells – The Reverse Merger ProcessOTCBB Shells – The Reverse Merger Process – Part VI»

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