Thursday, January 04, 2024 12:38:23 AM
Sigh....
Form 10 registration statement is automatically effective 60 days after filing, regardless of whether the issuer has responded to all Securities and Exchange Commission (the “SEC”) comments. Registration statements on Form S-1 register specific securities of a company. Form S-1 can be used to register shares for a company to sell to investors, specific sh ares for the issuer’s shareholders to resell. Form S-1 can also be used to register both simultaneously.
The S-1 registers and offers specific shares for the issuer or its stockholders to sell to the public. Form S-1 can be used for an Initial Public Offering (“IPO”) or Direct Public Offering (“DPO”). Sharp obviously filed the Form 10 for the expediency at the time. If he chooses to file an S-1, typically the SEC renders comments to registration statements on Form S-1 within 30 days after filing. Upon satisfaction of all comments, the SEC will declare the registration statement effective.
Nice try though.
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