For those of you who are entreprenuerial minded the information in this post could be of significant importance to you. It is in regards to a SCOR – Small Corporate Offering Registration (SCOR), which a startup company or business can utilize to raise up $1million in capital per 12 month period to get your company going. The process is legal, inexpensive, and doesn’t require a bunch of professional assistance to complete the registration. Here’s an excerpt from www.businesspartners.com explaining what a SCOR is.
What is SCOR?
SCOR was designed as a counterpart to federal laws developed to reduce regulatory burdens and help small and startup companies raise venture capital through a simplified and relatively inexpensive public stock offering. In most cases stock sold under a SCOR can be freely traded in the secondary market, making the investment more liquid and thereby appealing to investors. SCOR securities can typically be resold into established secondary markets and permit the sale of securities to an unlimited number of investors, accredited or non-accredited. It is also referred to as a Registration by Exemption, because it is a cross between a Public Offering and a Private Placement.
In some cases more than $1million can be raised although I can’t explain what those are now. Ideally if your going to try to do something like this I think you have a pretty good business plan completed, otherwise completing the SCOR will likely force you to develop one. If you have more questions about it don’t hesitate to drop me an email or call.