Everything you need to know about Reverse Shell Mergers by Ralph Amato
In my previous Blog (Part 6) I stated that the revised 51-509 Rule for US OTC Issuers only applies to shareholders who reside in British Columbia (“BC”). It does not apply to Canadians that reside in the other 12 provinces of Canada. However, how is one to determine if the shareholder resides in [...]
As far as we can tell any shells coming out of Canada after September 15, 2008 that contains 100% Canadian shareholders will be 100% restricted. This brings up some pretty interesting questions.
Can a company that has 100% Canadian shareholders get approved for trading by FINRA after the revised rule goes effective?
If a company has [...]
So what does this revised BCSC rule 51-509 change mean to Buyers and Sellers of OTCBB shells? The short answer to that question is – PLENTY!
Buyers will now have to make sure that they do not purchase a shell that has Canadian shareholders. The BCSC has, in effect, deemed that all securities issued [...]
What changes is the British Columbia Securities Commission (BCSC) making to the proposed 51-509 Rule?
the Canadian Trading and Quotation System Inc. (CNQ) was added to the list of exchanges that exclude issuers from the proposed instrument
changes were made to the significant connections requirement that will result in an OTC issuer being designated as a reporting [...]
The British Columbia Securities Commission (BCSC) second 30-day comment period for the proposed revised 51-509 rule ended on June 13, 2008. The revised rule changes go effective September 15, 2008 with additional filing requirements going effective September 30, 2008.
So why is the BCSC concerned about the U.S. OTC securities market?
Because “there is a disproportionate [...]
The British Columbia Securities Commission (BCSC) is proposing new rule changes along with the related companion policy’s and forms for issuers quoted in the U.S. over-the-counter markets (OTCBB) and pink sheets. These changes can be located at:
B.C. Instrument (BCI) 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets.
Under the newly proposed rules the BCSC [...]
In regards to the Securities and Exchange Commission (“SEC”) issues as it relates to timing for going public the differences between using an OTCBB shell (the back door) versus filing a registration statement with the SEC your (the front door) are numerous. Going public via an S1 or Form 10 registration statement does allow [...]
If you have a well established business that is profitable and you are seeking to expand nationally or globally then bringing your company public would allow you access to the capital markets to expedite your expansion plans. If there is a “window of opportunity” that you want to access then backing into an OTCBB [...]
Ventana Capital Partners is seeking China based companies who want to go public in the US. We have received several calls from investment bankers seeking to provide funding to companies that meet certain criteria. Companies must be able to demonstrate they are earning in excess of $5 million (US) net income per year, [...]
This is the second year in a row that I have witnessed softness in the marketplace for OTCBB shells during the month of May. I have now dubbed this the “May Effect”. Again there are more Sellers of shells than there are Buyers. This is partly due to the influx of new [...]
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