Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

[ltesprit]

There's no 'jump' into an IPO, Skunk. Microsoft is not an IPO. As I said, check out Bill Gates' ownership share in Microsoft. (Or pick any other company and its founder.)

How can Frank get away with 53%? Easy: he has voting control. And that's a problem. AMEX will make him assign voting power to the common shares before a listing. Why? Because that's proper corporate governance. It prevents management from awarding themselves 53% of a company. It's too late for us, but it will prevent him from increasing his shares even further without an independent board's approval.

That's why a listing is so important. It helps reduce corporate governance abuses.