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Wednesday, August 08, 2007 3:51:32 PM
Thank you for your interest in XXXXXX services.
The following is a list of steps to list your company on the OTCBB exchange using our services:
1) You would buy 100% of the reporting company listed for sale on our home page for XXXXX. If you intend to start a new business you do not have to complete an audit as the reporting company is already audited.
If you have a business that is already operating
your company would merge with the reporting company when a consolidated audit of your private company and the reporting company is completed. After the merger your company would be reporting to the SEC.
2) You would pay the attorney's that we would recommend $30,000 to do all the legal work necessary to list the company on the OTCBB exchange including: an SB-2 registration statement, subscription agreements, offering memorandums, responding to the SEC's and NASD's comments etc..You would give them $10,000 immediately, $10,000 mid-way through the process and $10,000 when your company obtained a listing and their services were no longer needed.
3) The only other fee's are for a transfer agent (approx.$1,000), electronic filing fee's (approx.$1,000) and you must supply an audit for the last two years or since your companies inception. If your company is a start up company our accountant could probably complete your audit for approx. $2,500.00 - $3,500.00.
4) If you decide to go with our program we will introduce you to our attorneys, accountants, transfer agent, electronic filing agent and market makers.
5) If you do not already have 35 shareholder's of the company you must have a minimum of 35 investor's that are not affiliated with the company to purchase a minimum of 1,000 shares each at any price.
To get a company listed on the OTCBB exchange takes approx. 6 to 9 months unless you merge with a company that is already listed. We have seen companies take as little as 5 months to get listed but that does not happen very often and is somewhat un-realistic to expect to get listed in that amount of time.
If you are able to locate company that is already trading on the OTCBB Exchange, once you have completed your due-diligence, have attorney's draft agreements, transfer funds to an escrow account, announce the merger etc. you could have your company trading in 30 - 45 days.[b\] The cost for an OTCBB shell that can only deliver 70 - 90% and has history that is hard to do due-diligence on is around $450K - $550K. Clean companies range from $650K - $750K.
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