Common shares? Let’s argue <smile>

creative_mind

Good day everyone,

I have just joined this forum and I am jumping right in with a question. :-)
Can anybody help with an advice on common shares issuing and distribution?

My company is completing a unique portal for business community (software and a business method – patent pending). I invested over a year in concept and business method testing and a few dozens thousands of my cash.
Now it’s almost done and we are launching it in June. I have a first 1000 subscribers waiting for it to be finally on-line as unfortunately we delay with launch – development and testing takes longer than promised by a vendor. We have a very loyal community formed and great testimonials. We also have a few investors lined up and open for more (btw, if anyone interested to discuss it – Offering Memorandum is available, just send me a private message or e-mail to asmith30081973 at hot mail.

Now the question:
Besides share certificates and Shareholders Agreement, as an investor what would you expect to receive – I mean any other legal documents besides to what I have just mentioned?

Also can anyone advise on regulations in your area regarding accredited/non-accredited investors if a company that distributes common shares (company A) is a major shareholder of the company for which investment is raised (company A=B? And what if company A owns only 5% of equity in company B?

Any gurus here?
Thank you in advance for any advise.

Sorry, no promised argument here :-)… just questions…

nrsql

Lets get ths straight.
You're setting up a company, have investers and are touting for more but seem to have no idea about how to run a business and have no one to give you advice?

creative_mind

You are welcome to assume whatever you like. :-)
I spent enough till now for legal assistance, and assumed that that's what forums for. :-) To ask/recieve/give advices.
So, no, your assumptions are incorrect.

It is a first time we do a pivate placements and it's obvious that at this stage you have questions. It's not atter what you don't know, but rather how fast you find solutons.
And no matter what someone's assumptions are, so far I had a great deal of success to find them.

And I still would appreciate any advise from those that understand what I am asking about.

Thank you.

nailman

ever thought of asking your accountant

creative_mind

My accountant has not dealt with private placements as well and seems to learn along with me. Lawyer i used for of preparation of our legal documents is not a security lawyer. Security lawyer will be hired as soon as we oficially start PP - in a month to check all related PP documents.
Thought I might get some answers before... if people are friendly :-)

Deemy

So your looking to sell shares in your 'business idea'

What about the Dragons on BBC .... they will buy shares

Cook_County

It is clear from what you have written that you are not from the UK. Where are you from and what qualifications does your accountant possess if he/she is not capable of advising you?