Off to the Reverse Merger Conference - hope you all join!
The Reverse Merger Conference, produced by DealFlow Media, takes place this week in Los Angeles. I think to summarize the state of our RM world, it is flux. But truthfully, when was it not thus? And isn't that what makes it exciting to wake up every day? The conference should be quite interesting. Here are a few tidbits of the panels and my thoughts on some:
1. On Wednesday, just after lunch (I know, not great time), I am on a panel talking about the pros and, yes cons of Form 10 shells.
2. Tim Keating will be talking about self-filings as a more attractive option than prior to the recent SEC rule changes (I agree!).
3. My partner Joe Smith will be on a panel talking about trends in financing and how to close deals in a "less than liquid" trading environment. For those of you who have never heard Joe speak at a PIPE conference, buckle your seat belts!
4. An academic study of 1900 reverse mergers since 1996 will be presented - really looking forward to that.
5. Another panel talks about where your post-merger company's stock should trade.
6. I love this totally objective topic heading: why regulators hate reverse mergers (I think some do, but many do not).
7. An update on China, SAFE 106 and such is another one I'm looking forward to. Has everyone now adopted the "sell the company to an unaffiliated BVI company and then have make-goods for the former owners allowing them to earn back the lost shares through performance" model? Some are going directly for government approval rather than these Rube Goldberg-type structures, what about that? Anyway, let's see what the experts say.
8. The last speaker is talking about how to analyze the cleanliness of a shell and will talk about footnote 32 shells. One thing I will say for those of you following my commentary on footnote 32. The SEC and those of us supporting them in issuing the footnote are fighting the equivalent of the US war on drugs. Except, unlike the US which is spending billions and managing to try to empty the ocean with a bucket, unfortunately the SEC has not even devoted the necessary enforcement resources to go after fraudulent footnote 32 shells.
All in all, as usual, Steven, Brett and Eric at DealFlow have picked the hot topics that we all want to hear more about. Also make sure you all join us at the cocktail party on Wednesday as drinks are on us at Feldman Weinstein & Smith (we are sponsoring the event)! And of course stop by our table in the sponsors' area if you want a free pen!
To my law colleagues in the RM world, thanks for a year in which we banded together to strategize about our advocacy approach to the SEC as major rule changes came about. I thank you all for that as well as for your continued professionalism and "high road" approach to your practices and work in RM. I'll post a post-mortem next weekend...
1. On Wednesday, just after lunch (I know, not great time), I am on a panel talking about the pros and, yes cons of Form 10 shells.
2. Tim Keating will be talking about self-filings as a more attractive option than prior to the recent SEC rule changes (I agree!).
3. My partner Joe Smith will be on a panel talking about trends in financing and how to close deals in a "less than liquid" trading environment. For those of you who have never heard Joe speak at a PIPE conference, buckle your seat belts!
4. An academic study of 1900 reverse mergers since 1996 will be presented - really looking forward to that.
5. Another panel talks about where your post-merger company's stock should trade.
6. I love this totally objective topic heading: why regulators hate reverse mergers (I think some do, but many do not).
7. An update on China, SAFE 106 and such is another one I'm looking forward to. Has everyone now adopted the "sell the company to an unaffiliated BVI company and then have make-goods for the former owners allowing them to earn back the lost shares through performance" model? Some are going directly for government approval rather than these Rube Goldberg-type structures, what about that? Anyway, let's see what the experts say.
8. The last speaker is talking about how to analyze the cleanliness of a shell and will talk about footnote 32 shells. One thing I will say for those of you following my commentary on footnote 32. The SEC and those of us supporting them in issuing the footnote are fighting the equivalent of the US war on drugs. Except, unlike the US which is spending billions and managing to try to empty the ocean with a bucket, unfortunately the SEC has not even devoted the necessary enforcement resources to go after fraudulent footnote 32 shells.
All in all, as usual, Steven, Brett and Eric at DealFlow have picked the hot topics that we all want to hear more about. Also make sure you all join us at the cocktail party on Wednesday as drinks are on us at Feldman Weinstein & Smith (we are sponsoring the event)! And of course stop by our table in the sponsors' area if you want a free pen!
To my law colleagues in the RM world, thanks for a year in which we banded together to strategize about our advocacy approach to the SEC as major rule changes came about. I thank you all for that as well as for your continued professionalism and "high road" approach to your practices and work in RM. I'll post a post-mortem next weekend...
Labels: Reverse Merger Conference
posted by David N. Feldman at
6/14/2008 06:42:00 AM
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