A quick and continuous downturn in IPO activity has analysts wondering if it will ever pick up again. What a change from early 2015 when the upswing in IPOs looked extremely promising.
Nevertheless, one analyst reports that companies are simply delaying their IPOs, giving them more time to build a record performance and enabling investors to become more familiar with them. Another analyst says last year was the worst year to go public based on statistics from the Wall Street Journal, reporting that 70% of the 175 IPOs are now trading below their IPO prices. Making 2015 the worst downturn in 20 years.
But, not all is doom and gloom. Recently, Silver Run Acquisition Corp. raised $450 million in its IPO, aimed at funding the acquisition of energy companies. This positive turn out means investors are taking advantage of the bargain prices in the energy sector due to a lull in oil prices. And, let’s not forget about Regulation A+, which is expected to offer unprecedented opportunities for small companies going public by performing mini IPOs, according to NASDAQ GlobaNewswire.
Under Regulation A+, small companies can raise up to $50 million from both accredited and non-accredited investors every year. This is $45 million above the $5 million allowed under the Regulation A requirements. Also, because investors have more investment opportunities, smaller companies are likely to raise more capital. And, companies are allowed to propose these security offerings under one of two tiers if they are eligible. To learn more about Regulation A+ and its requirements, read our June 15 blog post.
On a similar note, today’s SEC meeting to discuss the capital formation landscape for small and emerging companies is sure to shed some light on industry activity, and the SEC is encouraging it. We are hopeful that industry feedback from this meeting will somehow put a positive spin on future initial public offerings.
Edgar ® Agents is a full service financial filing and printing service. To learn more about our products for your IPO, do not hesitate to call us at 732-780-5036 or email us at info@edgaragents.com. Or, visit our social media sites on LinkedIn, Twitter and Google+.
Wednesday, October 19, 2016
SEC Meets February 25 to Discuss Crowdfunding
On the heels of the latest US government decision to discuss the elimination of XBRL for small and emerging companies, the SEC has organized another meeting to take place on February 25 to discuss “the capital formation landscape for small and emerging companies, including data on capital raised in unregistered securities offerings.” The public is encouraged to provide their views on this discussion and we’re certain that the recent crowdfunding legislation, which is sure to be discussed, will generate lots of interest.
In October of last year, the SEC approved the new crowdfunding rules and proposed amendments under Title III of the JOBS Act. The new rules allow companies to raise capital through crowdfunding options, designed to assist smaller companies with capital formation. As we all know, crowdfunding is an evolving concept and has been used to raise funds through the Internet for a variety of projects. So, a federal exemption under the securities laws, Title III of the JOBS Act, was created to allow this type of funding for smaller companies to offer and sell securities. Companies can commence these types of offerings on May 16, 2016.
Next week’s meeting will be administered by the Advisory Committee on Small and Emerging Companies, which provides a formal mechanism for the SEC to receive advice and recommendations for privately held small businesses and publicly traded companies with a market capitalization less than $250 million. The meeting will be webcast live and archived on the SEC’s website as well. To learn more about Regulation Crowdfunding, read our November blog post.
To learn more about Edgar ® Agents and our services, visit our website at www.edgaragents.com or call our office at 732-780-5036. Agents are available 24/7, including weekends and holidays.
In October of last year, the SEC approved the new crowdfunding rules and proposed amendments under Title III of the JOBS Act. The new rules allow companies to raise capital through crowdfunding options, designed to assist smaller companies with capital formation. As we all know, crowdfunding is an evolving concept and has been used to raise funds through the Internet for a variety of projects. So, a federal exemption under the securities laws, Title III of the JOBS Act, was created to allow this type of funding for smaller companies to offer and sell securities. Companies can commence these types of offerings on May 16, 2016.
Next week’s meeting will be administered by the Advisory Committee on Small and Emerging Companies, which provides a formal mechanism for the SEC to receive advice and recommendations for privately held small businesses and publicly traded companies with a market capitalization less than $250 million. The meeting will be webcast live and archived on the SEC’s website as well. To learn more about Regulation Crowdfunding, read our November blog post.
To learn more about Edgar ® Agents and our services, visit our website at www.edgaragents.com or call our office at 732-780-5036. Agents are available 24/7, including weekends and holidays.
XBRL May No Longer Be Required
After January’s meeting with the House Committee on Financial Services, the US House of Representatives will consider the Small Company Disclosure Simplification Act at a later date. What does this mean for roughly 60 percent of all reporting companies?
The bill itself will exempt emerging growth companies with total annual gross revenues of less than $250 million from reporting in XBRL. Many claim this is about 60 percent of all reporting companies. The exemption expires five years after enactment or two years after the SEC determines if XBRL outweighs its costs to issuers, but no less than three years after the bill is enacted.
Exactly one year ago from January, heated debates among investors, financial analysts, the SEC and companies made several headlines. Investors and analysts claimed the SEC already allowed too many exemptions and comparing company financials would be almost impossible if such a large amount of data from such a large percentage of reporting companies was not being reported in XBRL. The SEC also claimed XBRL was instrumental in identifying patterns of possible fraud and misreporting.
In opposition, the smaller companies claimed that the cost for XBRL conversions were too large for start-ups within the first five years because the alleged annual cost of XBRL was $10,000, although Edgar ® Agents’ fees are far lower than this. Nevertheless, one year later, the issue is still a concern and the bill has been placed on the Union Calendar for further consideration.
Read the full bill here.
To learn more about Edgar ® Agents and our services, call us at 732-780-5036 or visit our services page for a complete list of our products, including XBRL tagging and XBRL widgets.
The bill itself will exempt emerging growth companies with total annual gross revenues of less than $250 million from reporting in XBRL. Many claim this is about 60 percent of all reporting companies. The exemption expires five years after enactment or two years after the SEC determines if XBRL outweighs its costs to issuers, but no less than three years after the bill is enacted.
Exactly one year ago from January, heated debates among investors, financial analysts, the SEC and companies made several headlines. Investors and analysts claimed the SEC already allowed too many exemptions and comparing company financials would be almost impossible if such a large amount of data from such a large percentage of reporting companies was not being reported in XBRL. The SEC also claimed XBRL was instrumental in identifying patterns of possible fraud and misreporting.
In opposition, the smaller companies claimed that the cost for XBRL conversions were too large for start-ups within the first five years because the alleged annual cost of XBRL was $10,000, although Edgar ® Agents’ fees are far lower than this. Nevertheless, one year later, the issue is still a concern and the bill has been placed on the Union Calendar for further consideration.
Read the full bill here.
To learn more about Edgar ® Agents and our services, call us at 732-780-5036 or visit our services page for a complete list of our products, including XBRL tagging and XBRL widgets.
All You’ll Ever Need for Your Section 16 Filings
Valentine’s day is coming up and the only thing on your mind is your Section 16 filings. Okay, maybe it’s a bit too soon to talk about chocolates and heart-shaped candies, but your Section 16 deadline is creeping up and you need to file ASAP. Don’t forget you can securely file ALL your Section 16 forms on the Edgar ® Agents website using our EA16 portal.
Also remember, your Schedule 13G updates are always due on or around Valentine’s day. And, all Section 16 filings, including Form 5s, need to be posted or linked to your company’s website, which Edgar ® Agents can do for you. We can create a widget for your site the same day you file your forms. What better way to kill two birds with one stone?
Furthermore, to help you remember who needs to file what and what needs to be filed when, Edgar ® Agents provides a Checklist and a Calendar. Use the list to address each task and the calendar to double check deadline dates.
Also available to you are some quick tips to get you started, stay organized and file with the SEC on time and within compliance.
Get Organized
Sort out the most pertinent pieces to the puzzle first and address each task in order.
Use the EA Checklist
Always be aware of your deadlines and use the EA Checklist to assign tasks, take notes and keep track.
Use EA16 Portal
Take advantage of our EA16 portal to create, store and file your Section 16 forms directly with the SEC.
Proofread
Proofread your forms before filing by checking name spellings, signature dates and crucial information.
Apply Policies
Know the SEC policies and double check that you’re compliant with all of them.
File
Securely file your forms directly with the SEC with confidence using our EA16 Portal.
Finally, be aware that Edgar ® Agents are available 24/7 to answer any of your questions or to help you file your Section 16 forms on time. Contact us today.
Also remember, your Schedule 13G updates are always due on or around Valentine’s day. And, all Section 16 filings, including Form 5s, need to be posted or linked to your company’s website, which Edgar ® Agents can do for you. We can create a widget for your site the same day you file your forms. What better way to kill two birds with one stone?
Furthermore, to help you remember who needs to file what and what needs to be filed when, Edgar ® Agents provides a Checklist and a Calendar. Use the list to address each task and the calendar to double check deadline dates.
Also available to you are some quick tips to get you started, stay organized and file with the SEC on time and within compliance.
Get Organized
Sort out the most pertinent pieces to the puzzle first and address each task in order.
Use the EA Checklist
Always be aware of your deadlines and use the EA Checklist to assign tasks, take notes and keep track.
Use EA16 Portal
Take advantage of our EA16 portal to create, store and file your Section 16 forms directly with the SEC.
Proofread
Proofread your forms before filing by checking name spellings, signature dates and crucial information.
Apply Policies
Know the SEC policies and double check that you’re compliant with all of them.
File
Securely file your forms directly with the SEC with confidence using our EA16 Portal.
Finally, be aware that Edgar ® Agents are available 24/7 to answer any of your questions or to help you file your Section 16 forms on time. Contact us today.
What Do You Get with Section 16 Online Filings?
Within the next 30 days, hundreds of thousands of Section 16 filings will take place and Edgar ® Agents is proud to be handling many of them. Actually, many of our clients will be handling their own filings using our EA16 online portal.
With EA16, you can create, manage and file all your Forms 3, 4 and 5 directly with the SEC at your own pace. Here are some cool features to consider with our EA16 portal.
Handle your own filings
Our Section 16 portal allows clients to validate, test and file their Forms 3, 3/A, 4, 4/A, 5 and 5/A directly with the SEC in real-time. You can control the entire filing process from start to finish.
Save, revisit and work on a single draft
EA16 allows you to save and revisit current drafts and previous submissions. The portal stores a complete history of all filings so you can work on a draft, save it and come back to it later if you need to. You can also retrieve an older submission should you need it for reference.
No training necessary
The EA16 portal is user friendly and includes a template that looks identical to a traditional Form 3/A, 4. 4/A, 5 and 5/A. With a simple click of a button, you can fill out and file an approved template directly with the SEC. Edgar ® Agents representatives are also available 24/7 to guide you through the portal submission process.
Multiple people work simultaneously
Multiple users can work on the same draft under a single account. If necessary, users can also be assigned different administrative rights.
Manage multiple issuers and reporting parties
If you are filing for multiple reporting parties or have multiple issuers, you can manage all parties under your own password without having to sign in separately for each individual party. The EA16 portal allows you to easily manage multiple issuers and reporting entities throughout the system.
No software purchase necessary
Use the Edgar ®There is no software to purchase and no installation is required. You just need to call Edgar ® Agents to set you up on our secure portal. The portal can then be accessed directly from www.edgaragents.com.
Agents Checklist
Edgar ® Agents has designed a very basic checklist to follow when preparing to file Section 16 forms online. Click here to get a copy of the checklist for you and your staff.
Edgar ® Agents representatives are available 24/7 to set you up with the EA16 portal or to simply answer any of your questions. Do not hesitate to contact our offices to learn more about EA16 and our other services.
With EA16, you can create, manage and file all your Forms 3, 4 and 5 directly with the SEC at your own pace. Here are some cool features to consider with our EA16 portal.
Handle your own filings
Our Section 16 portal allows clients to validate, test and file their Forms 3, 3/A, 4, 4/A, 5 and 5/A directly with the SEC in real-time. You can control the entire filing process from start to finish.
Save, revisit and work on a single draft
EA16 allows you to save and revisit current drafts and previous submissions. The portal stores a complete history of all filings so you can work on a draft, save it and come back to it later if you need to. You can also retrieve an older submission should you need it for reference.
No training necessary
The EA16 portal is user friendly and includes a template that looks identical to a traditional Form 3/A, 4. 4/A, 5 and 5/A. With a simple click of a button, you can fill out and file an approved template directly with the SEC. Edgar ® Agents representatives are also available 24/7 to guide you through the portal submission process.
Multiple people work simultaneously
Multiple users can work on the same draft under a single account. If necessary, users can also be assigned different administrative rights.
Manage multiple issuers and reporting parties
If you are filing for multiple reporting parties or have multiple issuers, you can manage all parties under your own password without having to sign in separately for each individual party. The EA16 portal allows you to easily manage multiple issuers and reporting entities throughout the system.
No software purchase necessary
Use the Edgar ®There is no software to purchase and no installation is required. You just need to call Edgar ® Agents to set you up on our secure portal. The portal can then be accessed directly from www.edgaragents.com.
Agents Checklist
Edgar ® Agents has designed a very basic checklist to follow when preparing to file Section 16 forms online. Click here to get a copy of the checklist for you and your staff.
Edgar ® Agents representatives are available 24/7 to set you up with the EA16 portal or to simply answer any of your questions. Do not hesitate to contact our offices to learn more about EA16 and our other services.
Edgar ® Agents Checklist Prevents Section 16 Errors
Did you know you could create, manage and live file your Section 16 Forms 3, 4 and 5 straight from the Edgar ® Agents website? For several years now, we have helped our clients manage all their Section 16 filings using our EA16 system online. This feature gives our clients complete control over their Forms 3, 4 and 5 documents.
We have also recently created a very basic checklist of tasks to complete before filing your Section 16 forms online because checklists in law offices have shown to improve workflow, documentation, consistency and even profits. Our EA checklist will ensure you have all the necessary information you need to keep you compliant before you file.
Coupled with the EA checklist, the EA16 system will facilitate your Section 16 filings in several ways. Our system allows you to validate, test and live file with the SEC from the Edgar ® Agents site at your convenience. In addition, a complete history of your filings is stored in our system so drafts can be retrieved and edited with each new filing. Submit live and test filings to EDGAR ® with real-time status and manage multiple issuers and reporting entities throughout the system.
Also, use the EA checklist to break down the filing process for your clients or share it with your staff so you are all on the same page. To learn more about the EA16 system and other Edgar ® Agents services, call our offices at 732-780-5036 or visit our website at www.edgaragents.com.
Click here to get your EA Checklist.
We have also recently created a very basic checklist of tasks to complete before filing your Section 16 forms online because checklists in law offices have shown to improve workflow, documentation, consistency and even profits. Our EA checklist will ensure you have all the necessary information you need to keep you compliant before you file.
Coupled with the EA checklist, the EA16 system will facilitate your Section 16 filings in several ways. Our system allows you to validate, test and live file with the SEC from the Edgar ® Agents site at your convenience. In addition, a complete history of your filings is stored in our system so drafts can be retrieved and edited with each new filing. Submit live and test filings to EDGAR ® with real-time status and manage multiple issuers and reporting entities throughout the system.
Also, use the EA checklist to break down the filing process for your clients or share it with your staff so you are all on the same page. To learn more about the EA16 system and other Edgar ® Agents services, call our offices at 732-780-5036 or visit our website at www.edgaragents.com.
Click here to get your EA Checklist.
Our 2016 Filing Calendar is Here!
Edgar ® Agents is excited to wish you all a very joyous holiday this year, and remember to keep track of the SEC’s filing schedule using our 2016 calendar. Here you will find the most pertinent SEC filing dates, plus SEC holidays, for the year.
Please also note that Edgar ® Agents will be open every day, 24 hours and 7 days a week including weekends, for your convenience. Please feel free to print as many copies for your staff and clients.
Click here to get your 2016 Edgar ® Agents Filings Calendar
Please also note that Edgar ® Agents will be open every day, 24 hours and 7 days a week including weekends, for your convenience. Please feel free to print as many copies for your staff and clients.
Click here to get your 2016 Edgar ® Agents Filings Calendar
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