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Posted by R. C. White on June 15, 2007, 2:58 pm
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Hi, Dana.
In addition to all the other very good advice you've received, please advise
your "friend" that SHE should see a lawyer...FAST!
You, the potential investor, could lose your investment (plus time,
inconvenience, embarrassment, etc.)
Your friend, the potential seller of securities, could spend time in jail.
The federal securities laws are so strict that even unintentional offerings
of unregistered securities can carry severe penalties. I've never been an
attorney, but I've watched several clients as they dealt with these complex
rules.
I'm not accusing your friend of any wrongdoing or bad motives. Many (most?)
small companies are started in much this way, and some become successful.
Many of us can point to investments that we wish we had made when we had the
opportunity. But many of us also are very happy that we dodged the snares
that were in our path. And YOU used the phrase "pressuring me". That does
not sound good at all.
BOTH of you should consult competent lawyers!
RC
--
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
rc@grandecom.net
Microsoft Windows MVP
(Currently running Vista Ultimate x64)
> Are there private company stock & options forms on the web I can print?
>
> A friend is pressuring me to buy into her company which she started a year
> ago and now she needs US $15K dollars. She is willing to sell me 1 percent
> for $15K dollars but she has no formal stock option form for that.
>
> I've never done anything like this in my life.
>
> Is there a standard private company stock sale form on the web which I can
> look at to give me ideas. Is there a web site that gives advice to novice
> investors who want to have the right forms for this standard transaction?
>
> Like, how long is the typical options last? How do you price them when the
> company hasn't sold anything yet?
>
> Can you help advise me on what forms to use for private stock & options?
>
> Thanks for listening, as always.
>
> D.
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