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Market Woes II: Fed Reading RM Blog?
By David Feldman at 10 August, 2011, 10:29 am
Funny, that just a day after I wrote that I think the economy is going to “plod along at very low growth for awhile,” the Fed meets and announces pretty much the same thing! Am I prescient? Brilliant? Are the Governors turning to the Reverse Merger & SPAC Blog for advice? Well if you ask my [...]
Read More >>The SEC Reverse Merger Investor Bulletin: Balanced?
By David Feldman at 24 July, 2011, 5:54 pm
I have finally had the chance to actually sit and read the SEC’s vaunted “Investor Bulletin” on reverse mergers that came out last month. In recent years these bulletins have been seen more often. One warning folks about the retail foreign exchange market. Another on life settlements. A third explaining how say-on-pay works. Yet another on [...]
Read More >>Second Quarter Numbers Hit by China
By David Feldman at 17 July, 2011, 1:50 pm
Just 37 reverse mergers were completed in the second quarter of 2011, according to the Reverse Merger Report. That’s down over 50% from the second quarter of last year. Still way more than IPOs, but down is down. Much of this, of course has to do with China. Only three Chinese APOs were completed in [...]
Read More >>New Reg D “Bad Actor” Proposal: Part II
By David Feldman at 20 June, 2011, 4:52 pm
As mentioned in a prior post, the SEC has proposed, as required by the Dodd-Frank Act, to disqualify so-called “bad actors” from relying on the safe harbor from SEC registration in Rule 506 of Regulation D. In this part of the series we focus on who will be “covered persons” that will disqualify a company [...]
Read More >>SEC To Issue “Investor Bulletin” on Reverse Mergers
By David Feldman at 9 June, 2011, 11:26 am
Reuters is reporting that the Securities and Exchange Commission is about to release a so-called “investor bulletin” about reverse mergers. According to the report, an SEC spokesman said the bulletin would be “outlining the risks involved with reverse mergers.” As we know, the SEC is involved in a wide-ranging investigation of Chinese companies that completed [...]
Read More >>SEC Study Recommends Not Expanding Sarbanes 404(b) Exemption
By David Feldman at 6 May, 2011, 9:52 am
On April 22, the SEC released a study mandated by the Dodd-Frank Act of 2010 to examine whether to exempt additional companies from the burdensome auditor attestation of internal financial controls of public companies. Dodd-Frank created a permanent exemption from these requirements, in Section 404(b) of the Sarbanes-Oxley Act of 2002, for companies with market [...]
Read More >>Small Sigh of Relief – Nasdaq “Seasoning” Proposal Exempts Underwritten Deals
By David Feldman at 29 April, 2011, 8:18 am
Well you can never accuse me of being a good newsman! A short report in our industry trade publication surprised all. Nasdaq apparently was requesting a 6-month wait for all post-reverse merged companies to uplist to Nasdaq. During the 6 months they must trade over the counter at least at $4.00 a share, and the [...]
Read More >>Baby Heading Down with Bathwater? Nasdaq Requests Delay in “Re-IPO” Transactions
By David Feldman at 26 April, 2011, 11:00 am
POST-POSTING NOTE: IT TURNS OUT THE PROPOSAL IS NOT AS BAD AS FIRST THOUGHT AND WRITTEN BELOW, SO PLEASE SEE MY NEXT POSTS WHICH CLARIFY! DNF 4/30/11 The Reverse Merger Wire reported today that the Nasdaq, in a filing with the SEC, is requesting that post-reverse merged companies that wish to uplist to Nasdaq have at [...]
Read More >>Key Recommendations from SEC Small Business Forum
By David Feldman at 22 April, 2011, 11:57 am
Each year following the annual SEC Small Business Forum, the participants look at the recommendations that come from each breakout group and try to rank them in importance. The staff then publishes this ranking, which they have not done yet. But at my panel at the ABA conference last week, some key recommendations were listed. [...]
Read More >>About Chairman Schapiro’s Letter – Increase the Number of Shareholders Requiring Public Reporting?
By David Feldman at 11 April, 2011, 7:32 am
In the prior post I mentioned a series of letters between SEC Chair Schapiro and Rep. Darrell Issa about helping smaller companies access capital and grow. Apparently part of the discussion in the letters is whether to increase the number of shareholders a company must have to require it to become a full public reporting company. [...]
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