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Yeah, I'm sure the state SOS's are somewhat limited in their ability to verify the information of the thousands of public companies they get changes on. You figure the RA should be the one responsible for checking to verify the accuracy of any information they are submitting. I wonder, does an RA have any liability in these types of situations?
Wow! Doesn't the SOS verify anything? God knows Pink Sheets doesn't. Geez, we are at the mercy of scam artists it seems. IMO, that RA should be fined, banned, tarred and feathered, etc..
Janiceshell has been doing a fabulous job digging up what happened with SMMT, where it appears someone fradulently changed information with Nevada SOS using someone else's name, in conjunction with starting up a fake website. SMMT is definetly one for people who watch SOS changes to study and be aware of. If it happened once, it could certainly happen again. As Janice says in her message it does beg the question, how widespread is this issue or will it become. If you haven't yet, she is a good Ihub'er to personmark.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=61223808
Okay, thanks...
That costs $10
"Additional Information is available for a fee. You can retrieve Status for a fee of $10.00 or
more detailed information including current franchise tax assessment, current filing history
and more for a fee of $20.00."
Hi creede...
Could you check DE and see if MRVT is active? Tia...
Good morning, levelnever. Perfect information for the thread. Thanks for sharing.
During some DD, I read through this reincorporation document. At the beginning of the document there is a in-depth explanation of the advantages and disadvantages of a move from WA SOS to DE SOS. It's a PDF so I can't link in directly to it. If you want to read through it yourself, here is the page where the PDF is housed:
http://www.airspan.com/about-airspan/shareholder-information/
It's listed as Shareholder Information on Reincorporation (8/19/10).
Below I've quoted some of the relevant sections:
Sure thing. Welcome to the thread.
Thanks this great thanks
Interesting exchange I just found on our sister thread, SOS Changes.
Back at ya, creede...
I see. Thanks for the heads up, Akapak.
Thanks Joby. Hope you have a great rest of the weekend.
No problem. Welcome to the thread!
Great find, levelnever. I am going to repost it with keywords.
re Delaware (DE), Nevada (NV), and Wyoming (WY) -
Welcome to the thread, ChannelTrader. Hope you use this utility all the time.
Thanks for the mark, and back at ya.
re DE -
Another thing that you cannot get (I don't believe) is the back taxes. If memory serves, the reports are $20 each.
A very warm welcome to the thread, xbigshot1. Thank you very much for the kind words!
If you have any experience with any of the state SOS's please lay it on us whenever you please.
Great board.....marked it and marked you.....thanks mikey.
Agreed, creede, both terrific boards...
Welcome to all the new members. We are now 102 strong and counting. Please post here deposit your experience here for us all to share and discuss.
Also, don't forget to mark our sister thread, SOS Changes.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60142394
That would be the place for you to deposit any new changes that find during your DD.
Thanks!!!!
In my very humble opinion, the SOS is where the DD should start. Each person should be make it a habit to check all their favorite stocks with the SOS on a routine basis. If they do that, they gain a huge advantage in the market that often only trades based on hype.
That's the hope, I like the potential here, some great information I've been accumulating for 8 months on SOS Changes thread, will be nice to have a place to discuss the intricate details of SOS issues.
I am going to put it on my "To Do List" to call the NV SOS next week and try to get more clarity. Thanks for bring it to our attention.
Agree. Some of the SOS's still look very antiquated, but some of them are really great (like WY). Hopefully in the future we will see more and more of them become more user friendly.
Thanks, 'cantget' so appears they give out the authorized, but not the meat - address, filings or officer lists. Nice to know, another way to get authorized count without going through TA, especially if TA is gagged.
WOW.........EVERYONE needs to BOOKMARK this board.......
and 'creede' as well..........
talk about GIVING BACK............now this is what i am talking about.....
In that great series of simple to understand articles, one of which I linked to earlier, there was this one which relates to the M-Mar saga for those who have been following it:
http://www.businesslawpost.com/2010/10/how-to-choose-state-of-incorporation_21.html
Either way, have a great weekend everyone. I'm out.
Thanks for that. Learn something new everyday
Just want to say thanks to all that posted here today. I think we have a special synergy with the two SOS threads. I think we may actually be able to create forums of real value, and become better investors in the process.
I used PGIE,
I go here first,
https://delecorp.delaware.gov/tin/GINameSearch.jsp
and get the file number.
I asked for the authorized shares and the preferred
for
file #3684074 PGI ENERGY, INC.
But my question disappeared and it didn't show up on the transcript I had e-mail to me. If you don't ask for the preferred you might get one number with the common and preferreds added together
----------------------------------------------------------
Chat InformationRouting your chat request to a Corporations Information Center Representative . You are person 1 of 1 waiting to be served. Important: Please do not provide sensitive information (such as social security numbers, etc.) while chatting.
Chat InformationYou are now chatting with 'Kim' with the Delaware Division of Corporations Information Center.
Kim: Hello, Please hold as I review your question.
Kim: 1 COMMON A 1,000,000,000 .010000
Kim: 2 PREFERRED B 20,000,000 .010000
Kim: 3 PREFERRED C 1,000 .010000
ron: thank you
Kim: Thank you for contacting us online.
Please use the button (in the upper right corner of this window) to close this session. You will be prompted to have a transcript E-mailed to you and rate this service. Good-bye.
Interesting...I found this enlightening read after your post comparing DE, WY and NV.
http://www.businesslawpost.com/2010/10/how-to-choose-state-of-incorporation.html
How about GFME? I've already looked it up a few months back, but just an example. If you can post the chat as well, that would be really helpful.
give me a DEL corp I will try right now
WY has a legal instrument called a Close Trust. It is a way to shelter personal / buisness assets and limits liability.
Very useful against creditors, lawsuits, gold giggers, etc.
Hmm...weird, I wonder either the people I've gotten in the chat, just haven't known what they are doing or they changed their policy. If anyone else happens to try again, please let us know the outcome of your chat.
Documents you will have to pay for but I have always been able to get AS.
I give the name and the file number.
Unless they changed their policy recently.
Maybe I'm wrong, but when I've tried it I couldn't get anything without paying. Just to be sure, I just chatted with a Deleware rep and this is the conversation.
Here is the link btw for those who have never used it before. It's at the bottom of the page:
http://www.corp.delaware.gov/contact.shtml
Delaware will give you the info, there is a chat button where you can ask and get your answer either through the chat or they will email it later.
On those other SOS's that provide free information, I didn't mean that the companies are preferred, but the SOS is preferred because it provides free information. In fact many of the best companies remain on the DE. I just want to have my cake and eat it too :) Free info. and best companies in OTC both. Time to get a lobbyist...LOL...
Yeah, therein lies the dilemma. DE has some real solid by-the-book companies due to the stricter regulations, but at the expense of information given out to shareholders. I believe if we could get DE to give out open and free information that the penny market and OTC would be alot better off. And it would probably lead to every state that isn't giving out free information to follow the lead.
I have seen the Authorized shares "Unlimited" on a few WY corps.
WY corporate law also less strict than DE...
There are some preferred SOS's IMO (like WY) which provide free information to the general public , they don't have to pay the fees that DE incurs. I think DE helps out the bigger shareholders who have the funds to constantly put down $20 bucks here and there, but it limits things for the small-time investor attempting to research a broad variety of stocks. Certainly it's not advantageous for DD'ing the thousands of penny companies on there.
Transparency is key in the pink sheets IMO, the less walls that are up surrounding this information, the more that the market can effectively operate and incorporate any company changes into the PPS. Without these internal changes being made free to the public, it only continues to encourage insiders and big pockets in gaining the upper hand and making money off of others. I hope that in the future more SOS's transition to the free information platform.
Does anyone here know why a company would choose to move from DE to WY?
Also, would all of the state taxes for DE have to be paid for them to be able to execute the move?
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Welcome to The Secretary of State (SOS) Board! This board was created to help us more effectively make decisions regarding OTC stocks, by learning how to more efficiently obtain information from the State of Incorportion.
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