Archive for November, 2008
The RM Holiday Wish List
By David Feldman at 27 November, 2008, 9:53 am
Before heading over to my family’s Thanksgiving feast, I thought I would jot down some things we are all hoping for in the reverse merger world (and, well, just the plain old world) for the holidays and the year ahead… * I wish that the SEC eliminates the “evergreen” requirement for a former shell to be current [...]
Read More >>Is Consumer Spending Looking Up this Holiday Season?
By David Feldman at 27 November, 2008, 9:40 am
Considering the latest financial headlines, you would assume that the vast majority of the US population would be planning on sizable spending cutbacks this holiday season. However a recent survey by ABI Research has shown that not all consumers intend to cut back on spending, and some are even thinking of spending more than last year.
Read More >>Tip of the Week: Inappropriate Expenses and Compensation for Shells
By David Feldman at 22 November, 2008, 8:25 am
Public shells may engage in activities that seem commonplace and appropriate for operating companies, including compensating management, hiring public relations firms, paying rent for office space, issuing press releases that disclose important events, and raising money to cover all these expenses. These are innocuous activities for a public company. But if a shell company (assuming it is not a SPAC) is engaging in them, it is a sign that someone without the highest integrity is in charge.
Read More >>SEC Staffer Signals Possible Action on 144(i); Chairman Goldschmidt?
By David Feldman at 21 November, 2008, 7:19 am
Yesterday I attended the SEC’s annual Government-Business Forum on Small Business Capital Formation. Much of the “doom and gloom” attitude we saw at the PIPE Conference last week was continued at this event. There was some good news however. One of the panelists mentioned that “a group of prominent law firms” (thanks for the plug [...]
Read More >>Avoiding Labor Disputes
By David Feldman at 21 November, 2008, 4:30 am
Boeing’s longest labor dispute in the past decade came to a close this month as union machinists returned to work. The strike cost Boeing an estimated $100 million dollars a day in deferred revenue and further delayed the production of the 787 Dreamliner aircraft.
Read More >>Off to the SEC Conference
By David Feldman at 19 November, 2008, 5:18 am
I am headed to our nation’s capital (I expect the cowboy hat concessions to be replaced with sneaker and basketball displays) for tomorrow’s annual SEC small business capital conference. Typically SEC Chairman Cox leads it off and I assume he will again. It is a great opportunity to have access to senior SEC staffers that [...]
Read More >>Thoughts about the PIPE Conference
By David Feldman at 18 November, 2008, 4:20 pm
I was thrilled to once again participate in a panel at this year’s DealFlow Media PIPE Conference last week at the New York Hilton. It does seem more and more that PIPEs and reverse mergers are more and more intertwined as businesses. It was also our firm’s pleasure to sponsor the event as well as [...]
Read More >>Top Reasons to Buy in a Bad Market
By David Feldman at 18 November, 2008, 4:14 pm
The stock market is in full-blown panic mode – and the closing bell on Wall Street reinforces that each day. Huge swings in the Dow Jones Industrial Average are commonplace, and every barometer of volatility out there has its needle pegged to the top of the dial.
Read More >>Recent SEC Guidance Allows More Private Offerings While Public Offering Registrations are Pending
By David Feldman at 17 November, 2008, 9:39 am
Something else we learned at the PLI Securities Regulation Institute last week. Until recent interpretive guidance provided last summer by the SEC, if a public company had a pending registration statement under the Securities Act of 1933 (such as Form S-1 or F-1), the only safe way to raise money privately during that time was [...]
Read More >>How Will the Economy Affect Retail Sales this Holiday Season?
By David Feldman at 17 November, 2008, 9:22 am
The holiday season is a key time for retailers each year; however with the current state of the economy, retailers may have to become more strategic with how they operate in the coming months. In a recent survey conducted by Harris Interactive, 84% of U.S. adults are currently taking steps to save money as a result of the current economic climate. According to the survey, 70% of adults are reducing their discretionary spending. Only one-in-four U.S. adults are still willing to splurge this holiday season, given the economic times.
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