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A company starts with incorporation - a process of forming. These days it's cheap (around $300) and straightforward. You can either incorporate on your own or, better, utilise your accountant or lawyer.
You incorporate in a particular state, usually Delaware with its liberal laws and taxation policies. You don't need to live in Delaware to incorporate there, but you do need to also declare your existence to whatever state(s) you plan to operate in. The corporate laws vary substantially, so ask your lawyer and accountant about regulations in your state.
After incorporation, you issue a stock - a unit of ownership in the company. In startups before funding, there is little reason to spend time on issuing shares, because when financing comes you'll need to reissue. Easiest is to declare that you have 100 shares of common stock and divide it between the founders as agreed prior to starting a company.
There are three principal types of participants in every company - shareholders, directors and management. Shareholders, or the owners, vote and elect the board of directors, who set long-term strategic direction and appoint executive management. The management (CEO, CTO, etc) is responsible for the day-to-day operation of the company.
While you might find this 3-tier structure initially confusing, it does make sense. In large companies directors are mostly outsiders. Directors represent the interest of shareholders and hold management accountable for the performance of the company. In a large corporation, typically the CEO is also a President or Chairman of the board, but the rest are directors outside the company. For small startups, the situation is simpler. You are a shareholder, a director and a manager of your own company.
Key Documents
In a startup, you need to understand when to wear the hat of a shareholder, director or a manager. Looking at a company from the perspective of key legal documents helps you do that.
The first document is Articles of Incorporation, which declares the kind of entity, state of operation, classes of stock, and number of shares. The next is a Shareholders Agreement, which typically discusses the rights and obligations shareholders have in situations like sale of the company, sale of stock, or death of a shareholder. And Corporate Bylaws is the guide by which the board operates; it specifies who can be a director, how often meetings are held, how voting is done.
http://www.readwriteweb.com/archives/startup_inc_starting_a_company.php
Some corporations contain provisions in their charters authorizing the issuance of preferred stock whose terms and conditions may be determined by the board of directors when issued. These "blank check" preferred shares are often used as takeover defense (see also poison pill). These shares may be assigned very high liquidation value that must be redeemed in the event of a change of control or may have enormous supervoting powers.
http://en.wikipedia.org/wiki/Preferred_stock
They must be, and I think the typo is the Fla SOS's fault.
Florida Profit Corporation
MET, S.C. INC.
Filing Information
Date Filed - 07/17/2009
State - FL
Status - ACTIVE
Unless somebody can find MET NC
SRE SC is the vehicle. Methes and Sunsi will provide the technology for it to run.
Now I do
I thought that SRE SC was going to just be the biofuel part of the plan and maybe met and sun the other parts, as separate entities, but now it looks like there is going to be one company doing all the tasks - biofuel wind solar.
Now SRE SC is the umbrella for the operation, in SC at least.
Yea it looks like Pinnacle Energy (SYNJ) only holds 18%
I wonder who the shareholders/officers are SUN and MET?
We know a lot more about SRE SC
Shareholders
Sentenel Renewable Energies (SRE) - 51%
Pinnacle Energy Inc - 18% (sub of SYNJ)
MET NC - 18%
SUN SC - 13%
Mac, Brian, Mark, Howard are the Officers and BOD
Advisors are P. Senilnathan and Kabir
Ik spreek in het Engels
Ik weet niet zeker wat je niet begrijpt
I'm not sure what you mean
but it's Met NC not Met SC
It might be a totally new company
Did you notice the other shareholders?
Met NC
I can't find any info on this, they might just to do a name change of the company that's filed in Florida.
It's an amendment to the articles of incorporation
If you go here
http://www.scsos.com/index.asp?n=18&p=4&s=18&corporateid=558002
you see this
It gives alot more information than just a stock amendment
Shareholders
Officers
Board of Directors
Board of Advisors
SRE S.C. - ARTICLES OF AMENDMENT
I just received this today:
Nice find knack
I like this part
Of the 46 EFRCs, DOE plans to fund 30 annually for five years at a total cost per year of $100 million, and 16 are forward-funded for the full five-year award period with $277 million of Recovery Act funds.
Very nice find Tufan
It's great to see some numbers that recipients have actually recieved instead of just how much the Fed is giving out.
That was awesome! Thanks for the laugh, I needed it...
Have a great weekend
I think you know already
Posted by: CHUNKY44
Date: Tuesday, July 07, 2009
That's 2 billion shares issued in less than a year to varying note holders. Who are those varying note holders? Brian Sorrentino and Cornell Capital are by far, the largest. Total liabilities as of 12/31/08 were $2,671,021, total cash was $4,904. That appears to be what is left of the $10,000 raised in Nov and Dec of 2008 for the issuance of 168 million shares.
What has happened since the end of 2008? Well, let's look at the company PR from 4/01/09 (see below), where we find out that the float (not the o/s, but the float) went from 181 million to 931 million in just a little over two months. (Read Brian's spin on the need to continue equity financing and note the irony in the title of the PR).
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39346890&txt2find=cornell
The Debentures bear interest at 12%, mature three years from the date of issuance, and are convertible into our common stock, at the Investor's option, at a conversion price, equal to the lower of (i) $0.0132 or (ii) 85% of the lowest weighted average price during the 30 trading days immediately preceding the conversion date.
To that end, on December 30th 2005, the company then executed a Securities Purchase Agreement (the “Agreement”) for the sale of (i) $1,150,000 in secured convertible debentures (the “Debentures”) and (ii) stock purchase warrants (the “Warrants”) to buy 120,000,000 shares of our common stock. In accordance with EITF-00-19 and SFAS 150, since there is no explicit limit on the number of shares that are to be delivered upon exercise of the conversion feature, the Company is not able to assert that it will have sufficient authorized and un-issued shares to settle the conversion option. As a result, the conversion feature should be accounted for as a derivative liability, with the fair value recorded in earnings each period.
On February 6th 2006 the company issued an additional $700,000 of the 1,150,000 debenture and on June 8th 2006 issued the final $150,000 of the $1,150,000 debenture.
As of March 31st, 2009, the Company converted $257,600 of its debenture to equity reducing the outstanding debenture balance from $1,150,000 to $892,400.
I learned that the hard way a long time ago
This from a few weeks ago
It's almost nothing
As of July 31 - 34,029 shares short
Im using alphatrade -what do you use
Huh? L2 shot Sure...NP
STEW is gone now
It's looking good kirk - YW
They were the second one to show up and change from closed to a date
NITE can do what they want
Nice job!
Yea very interesting because we know it's not leftovers from yesterday
Q1 2009 filing on Pinksheets
They're showing up now
The greatest power is often simple patience.
Download it here if the links don't work
http://www.mediafire.com/file/hjr4jzothyz/SYNJ Q1 2009.pdf
Companies "go dark" to save the cost of reporting. It happens more frequently now because of SOX.
.0023---7,233,887---$16,638
.0024---18,401,450---$44,163
.0025---6,966,169---$17,415
.0026---4,242,400---$11,030
I was thinking about big board AH, but in this case it would be T trades.
Remember a bunch of those 9 million T trades going through a while ago
Sometimes they cross stock between accounts this way, a lot of times you see it AH.
NITE absorbed about one percent of his total monthly share volume in one hour.
Nice find - Good reading
NP YW - They always include that reference to Am. Nortel like it's some big achievement
AMERICAN NORTEL COMMUNICATIONS, INC.
Business Entity Information
Status:Revoked
File Date:8/3/2007
http://tinyurl.com/NevadaSecSt
Looks good so far
Now would be the time to release
Short Interest (Shares Short) - 34,000
Short Interest - Prior 332,700
Short % Increase / Decrease - 89.78 %
I started thinking about it when gogo posted:
Posted by: gogospeedracer
Date: Thursday, July 30, 2009
did I mention ALL military vehicles are multifuel vehicles no need to change a thing, just pump it and drive it.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40061940
Lamont A. Hale
Senior Vice President and Chief of Business Development
Mr. Hale has been with SRE since its founding. He is a retired United States Marine who served from 1982 to 2003. During this time, he held various senior staff positions as an advisor, instructor, and operations chief.
In 2003, he incorporated LH International Consultancy, which specializes in assisting companies write and implement policies, procedures, and training programs for staff operations in both the US and abroad.
His firm has worked with leading media organizations, oil companies, security companies, and various Fortune 500 corporations.
Mr. Hale has a proven track record managing and maximizing profits and saving for multimillion dollar projects in the military and private industry.
Joint Test and Evaluation Program
The Office of the Secretary of Defense (OSD), Director, Operational Test and Evaluation, sponsors the Joint Test and Evaluation program to conduct tests and evaluations; and provide information required by Congress, OSD, the Unified Commands and DoD components relative to joint operations.
JTEM welcomed three new members to the staff. CPT Lamont Hale assumed duty as the Deputy, Transition and Operations Office.
http://www.jte.osd.mil/docs/highlights/Newsletter%20aug%2008-08.pdf
Joint Test and Evaluation Program Office
4850 Mark Center Drive
Tenth Floor
Alexandria, VA 22311
Joint Test and Evaluation
Suffolk Facility
7025 Harbour View Blvd., Suite 105
Suffolk, VA 23435