[MUD-Dev] Blacksnow revisted
the_logos at achaea.com
Tue May 7 06:44:40 New Zealand Standard Time 2002
On Sat, 4 May 2002, Amanda Walker wrote:
> On 5/3/02 1:18 PM, Matt Mihaly <the_logos at achaea.com> wrote:
>> Selling shares in a company requires spinning off your game into
>> a separate company, registering with the SEC, and then abiding by
>> the -numerous- rules regarding stock transactions.
> Yes and no. You can incorporate and sell stock without
> registering those shares or listing them on any market. Most of
> the rules apply to what the stockholders can or can't do with the
> shares. You would have to file an annual report and other such
> stuff, of course.
Well, I haven't worked professionally as one for a number of years,
but I'm a stockbroker, and unless my memory has gone wacky you
cannot just incorporate and sell stock. If you're not public you
have to register the names of the future shareholders when you
incorporate, and then gain permission from the state to sell new
shares or to sell existing shares to new stockholders. If you issue
a public offering, the costs involved are, of course, large.
I'm not a lawyer, and so there may be ways to work around this, but
the selling of stock is not something you can just decide to do.
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