MyECheck, Inc. (fka MYEC)

[Long-N-Strong]

Apparently it takes over 900 hours to complete the Form s-1 SEC registration form:

http://en.wikipedia.org/wiki/Form_S-1

Quote:Form S-1 is an SEC filing used by companies planning on going public to register their securities with the U.S. Securities and Exchange Commission (SEC) as the "registration statement by the Securities Act of 1933". The S-1 contains the basic business and financial information on an issuer with respect to a specific securities offering. Investors may use the prospectus to consider the merits of an offering and make educated investment decisions. A prospectus is one of the main documents used by an investor to research a company prior to an initial public offering (IPO). Other less detailed registration forms, such as Form S-3 may be used for certain registrations.

Every business day from 10 to 5, S-1 forms are filed with the SEC's EDGAR filing system, the required filing format of the U.S. Securities and Exchange Commission. However many of these (typically 30% to 90%) are of the related Form S-1/A, which is used for filing amendments to a previously filed Form S-1.

The S-1 form has an OMB Approval Number of 3234-0065 and the online form is only 8 pages. However the simplicity of the form's design is belied by the OMB Office's figure of the Estimated Average Burden - 972.32 hours. This means that much time and effort has been used to collect and display information about the filer (a corporate registrant or new registrant who intends to offer securities). The S-1 form requires that the registrant provide information from diverse sources and incorporate this information using many rules or regulations, such as General Rules and Regulations under the Securities Act, Regulation C, Regulation S-K and Regulation S-X.



http://www.sec.gov/about/forms/forms-1.pdf

Quote:I.
Eligibility Requirements for Use of Form S-1

This Form shall be used for the registration under the Securities Act of 1933 (“Securities Act”) of securities of all registrants for which no other form is authorized or prescribed, except that this Form shall not be used for securities of foreign governments or political subdivisions thereof.

II.
Application of General Rules and Regulations

A.
Attention is directed to the General Rules and Regulations under the Securities Act, particularly those comprising
Regulation C (17 CFR 230.400 to 230.494) thereunder. That Regulation contains general requirements regarding the
preparation and filing of the registration statement.

B.
Attention is directed to Regulation S-K (17 CFR Part 229) for the requirements applicable to the content of the non-financial
statement portions of registration statements under the Securities Act. Where this Form directs the registrant to furnish
information required by Regulation S-K and the item of Regulation S-K so provides, information need only be furnished
to the extent appropriate



http://www.gpo.gov/fdsys/pkg/CFR-2011-title17-vol2/pdf/CFR-2011-title17-vol2-part230.pdf

Long-N-Strong