Additional stock issuance

brightfuturebrightfuture subscriber Posts: 2
edited May 2006 in Growth Funding
Has anyone ever had an additional stock issuance and if so what was the procedure and cost associated with this process.

Comments

  • robertjrobertj Tampa Bay, Floridasubscriber Posts: 0 Member
    You don`t say in which state you incorporated - but most (if not all) are similiar in that your Articles should have stated how many shares the corporation is aurthorized to issue. If that number was 100,000 then you will need to file an amendment with the state increasing the number of authorized shares to 10 million. In most states there is a form for this. Generally you will need "approval" of the board of directors. Usually there is a filing fee.
    NOTE: A few states have a tax/fee based upon the number of shares authorized.
    Robert Johnson
  • brightfuturebrightfuture subscriber Posts: 2
    We are in Michigan, I called the state of Michigan and they told me their fees but I am not sure if you would have additional from other agencys, attornys Etc..
     
    Thanks for the response
     
    Mike Paige
  • robertjrobertj Tampa Bay, Floridasubscriber Posts: 0 Member
    Mike:
    It`s always a good idea to have someone look over what you`re planning to do before you file with the state. Shouldn`t be more than a couple hundred dollars.
    I can give you the name of an excellent securities attorney - if you contact me off line. [email protected]</A>
    Robert Johnson
  • CrystalguyCrystalguy subscriber Posts: 1
    Michigan has reduced the fees for authorizing stock.
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