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Types of Public Shells

Our public shell inventory includes a number of different types of public shells, many of which can be helpful depending on the budget, strategy and general situation of the company looking to make a deal.

 

Trading, Non-Reporting

 

Companies which trade, but are not fully reporting typically are found on the Pink Sheets (a trading service not associated with NASD and out of the jurisdiction of the SEC). A trading, but non-reporting corporation can either be a delinquent filer that is no longer current with the SEC. These types of organizations may successfully avoid review if reporting is brought current. This is due to the nature of the exchange on which they trade.

 

Some companies may trade, but may have never previously reported. This means they have never filed a registration statement to become a reporting company. These types of corporations typically require an SEC review (but not always). These types of firms also may qualify for “piggyback” exemption if they get up-to-date on their reporting requirements.

 

Finally, a firm without a 15c211 on file is typically designated as a Pink Sheet stock with the NASD and will not have a NASD symbol. Shares of this type are typically only sold by brokers on a level-two quote with a bid/offer of one share by one share.

 

Reporting, Non-Trading

 

When a company is reporting, but not trading it is typically a blank check company that has simply filed a Form 10-K with no actual business. There is typically no symbol and only a single shareholder. The company will likely have a gray sheet, an inactive symbol and may or may not be reporting. Because the company is not yet trading there is typically no Market Maker.

 

In order to become trading the firm will need a shareholder base of at least 50 or more and will need to file a Form 15c211 with the NASD to obtain a trading symbol. Reporting companies have typically gone through the rigors of a corporate audit.

 

Non-Trading, Non-Reporting

 

A corporation that is not trading nor reporting typically only has a shareholder base. No stock symbol is registered and the company may or may not have once been a reporting company.

 

Non-trading and non-reporting corporations must file with the SEC before becoming a reporting company. Filing means a full company audit as well as filing a new 15c211 with the NASD to get a stock symbol. Because of the nature of these types of shells, we typically stear away from them.

 

Trading and Reporting

 

A trading and reporting entity is one who is current on filing both annual 10K reports with an audit as well as 10Q and 8K reports.

 

We’re experts in manufacturing and producing shell corporations which are clean and ready for reporting. Contact us for more information.