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TRP: These Ides Have Seen A Lot Of Loves...

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Re: TRP: These Ides Have Seen A Lot Of Loves...

Sloe Gin said:
I think we could get a lot of people on the board interested...



yeah, contracts would have to be drawn up...it would get messy with the profits being spread out amongst such a large group...but I could see this group pulling it off. :D
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If we have too many investors we're going to need some heavy duty legal help. There are a bunch of state and federal laws that we will have to comply with to have that many investors. :(
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

legal_hit said:
If we have too many investors we're going to need some heavy duty legal help. There are a bunch of state and federal laws that we will have to comply with to have that many investors. :(
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Wouldn't we have to, or be better off, just forming a corporation?
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

bigblue_dl said:
Wouldn't we have to, or be better off, just forming a corporation?
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Corporation or LLC, we'll still have to comply with the "Blue Sky" (disclosure) laws if we exceed a certain number of investors. It's one of those things we'd have to look into if this idea ever became a reality.
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

Sloe Gin said:
I think we could get a lot of people on the board interested...

yeah, contracts would have to be drawn up...it would get messy with the profits being spread out amongst such a large group...but I could see this group pulling it off. :D
Click to expand...

legal_hit said:
If we have too many investors we're going to need some heavy duty legal help. There are a bunch of state and federal laws that we will have to comply with to have that many investors. :(
Click to expand...

I wonder how many would be interested in ownership and how many would be interested in just working? I, for one, would not seriously consider ownership for years down the line, but would be content cooking/baking.
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

If all it took to run a bar was the ability to suck down mass quantities of booze, you guys would have one heck of a business:p
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

walrus said:
If all it took to run a bar was the ability to suck down mass quantities of booze, you guys would have one heck of a business:p
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I think the key is our ability to get others to suck down mass quantities of booze. :D
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

legal_hit said:
Corporation or LLC, we'll still have to comply with the "Blue Sky" (disclosure) laws if we exceed a certain number of investors. It's one of those things we'd have to look into if this idea ever became a reality.
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Would it be easier to have a small group of owners and a bunch of investors? Id be up for investing in it to get it off the ground but really have no incentive to be part owner once Im paid back.
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

Painted_Bandit said:
Would it be easier to have a small group of owners and a bunch of investors? Id be up for investing in it to get it off the ground but really have no incentive to be part owner once Im paid back.
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If we structure the investments as loans we may be able to get around the disclosure laws.
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

legal_hit said:
If we structure the investments as loans we may be able to get around the disclosure laws.
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Would disclosure laws truly apply if something like this was setup as a closely held investment - a private placement, perhaps - rather than a publicly traded stock?
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

St. Clown said:
Would disclosure laws truly apply if something like this was setup as a closely held investment - a private placement, perhaps - rather than a publicly traded stock?
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It's been a while since I looked into this, but I guess it would depend on what the definition of public offering in Minnesota is. I'm just saying this might, just might balloon out of what I can handle as an in-house counsel. :p I suppose if we get to that point, we'll address it then. :)
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

legal_hit said:
It's been a while since I looked into this, but I guess it would depend on what the definition of public offering in Minnesota is. I'm just saying this might, just might balloon out of what I can handle as an in-house counsel. :p
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Especially if you're drunk at the time ;)

I'm assuming this is what you've been talking about, but here's a question - if a corporation wishes to sell stock, must it be a public offering?
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

Beer Pong Horn said:
Especially if you're drunk at the time ;)

I'm assuming this is what you've been talking about, but here's a question - if a corporation wishes to sell stock, must it be a public offering?
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I'm not a business person, but I believe that answer is no. There are private corporations, Cargill is a prime example. It is a corporation but all of the shares are held tightly among the Cargill extended family, and generally never leave the shores of Lake Minnetonka.
 
Re: TRP: These Ides Have Seen A Lot Of Loves...

Beer Pong Horn said:
Especially if you're drunk at the time ;)

I'm assuming this is what you've been talking about, but here's a question - if a corporation wishes to sell stock, must it be a public offering?
Click to expand...
No. There are "private stock" placements, sometimes called "closely held" investments. These are most commonly involved when a family opens a business and then wants to include other family members into the ownership, or if people invest into odd things that aren't traditionally thought of as "securities," such as performing animals or real estate. We deal with the tracking of such investments in another department on the floor above me, but the analyst who supports that group sits just behind me. (Yes, we have a few performing animals tracked within our closely held operations group - an elephant, most notably.)
 
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