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Discussion about the Sarbanes Oxley Act
Discussion about the Sarbanes Oxley Act
Discussion about the Sarbanes Oxley Act
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Recommended: Discussion about the Sarbanes Oxley Act
Issue: Whether Mountain Mist’s prospectus is misleading and deceptive? Rules: s708, s710, s729, s715, s728 CA Application: According to ss700-741 CA, fundraising provisions apply when a company seek to raise funds by issuing securities. CA requires to provide adequate disclosing information in prospectus. The prospectus’ intention is that provide protection to normal general investor without special skill and knowledge. In this case, shareholders are willing to invest the Mountain Mist Ltd (MML) because Majid Ting is an expert who can give professional advice. The prospectus must include all information reasonably required by investors and the professional advisers to make decision (s710 CA). To be objective, this means that what investor
Between March 1987 and March 1988, Hanlester issued a private placement memoranda offering limited partnership shares in joint venture laboratories PPCL, Placer, and Omni. Smith Kline entered a laboratory management agreement with PPCL which required PPCL to provide a Medical Director and pay a fee to Smith Kline of $15,000 or 80% of all net cash receipts, whichever is greater. During this time, Ms Hitchcock told prospective partners that the memorandum was sales material only. However, she also told prospective partners that eligibility to purchase shares the number of shares they can purchase was based on volume of business they referred to the laboratories. Also, if the partners did not refer business, they would be pressured to leave the partnership. If the partners did comply, their return on investment was guaranteed. These actions were interpreted by the courts as offers of payment to induce referrals of program related business based on volume of referrals which is
·The proposed band would raise $10 million through a public stock offering. The Treasury would hold one fifth of the stock and name one fifth of the directors, but four fifths of the control would fall to private hands. Private investors could purchase shares by paying for three quarters of their value in government bonds. In this way, the bank would capture a significant portion of the recently funded debt and make it available for loans; it would also receive a substantial and steady flow of interest payments for the Treasury. Anyone buying shares under these circumstances had little chance of loosing money.
The Faith Mountain Company has experienced a great deal of success since opening in 1977. What Cheri and Martin Woodard began as a local store that sold herbs, related products, and antiques has slowly evolved into a major mail-order catalog company and retail store that develops, manufactures, and markets high-quality gifts, apparel, and home accessories. In 1991, Faith Mountain was still a relatively small company with less than 50 employees. However, sales have been steadily increasing for Faith Mountain, as they went from about $1.2 million in sales in 1987 to just over $5 million in 1991. In 1991 The Faith Mountain Company set for itself the overall goal of $25 million in annual sales by 1995, with $10 million coming from sales from the Faith Mountain catalog, $5 million from the retail division, and $10 million from the acquisition and development of another catalog company. Reaching these goals will have implications in all areas of operation, including expansion, human resources, marketing, and finance.
Mountain Man Brewing Company was founded in 1925 by Guntar Prangel who was a coal miner with a home brewery. Consequently, his single product brand “Mountain Man” is marketed largely to other coal miners. Today, the company is still seen as an attractive brand that produces a quality product. Mountain Man Lager emphasizes the use of quality ingredients as well as a bitter flavor and dark coloring. Mountain Man has been an established brand for over 75 years and has the loyalty of older blue-collar clientele. Their lager is the market leader in West Virginia, but Mountain Man also has a strong following in other states such as Illinois, Indiana, Michigan and Ohio. It has generated over $50 million in revenue with 520,000 barrels sold. Not to mention, Mountain Man Lager has been voted as the best known regional beer and has also won “best beer” awards in West Virginia and Indiana. The main advantage that Mountain Man Beer Company has is the loyalty of its consumers, without this loyalty sales will dramatically decrease.
The author and his times: Charles Frazier was born on November 4,1950 in Asheville, North Carolina (sec. 1.1). Frazier’s family influenced him and the placed where he grew up influenced Frazier when he wrote the book. Cold Mountain “is based on local history and stories handed down by Frazier’s father about Frazier’s great-great-uncle William Pinkney Inman (sec. 1.2).
How has MCI raised external funds in the past? How sensible have these decision been?
A mountain man is a male trapper and explorer who lives in the mountains. Mountain men were most common around the North American Rocky Mountains from around 1810 through the 1800s. Almost 3,000 mountain men were in the mountains at around 1820 and 1840, the peak beaver harvest period. While there were many free trappers, most mountain men were employed by major fur companies. The life of company men was nearly militarized. The men who had the company also had mess groups that hunted and trapped in brigades and they all reported to the head of the party. Mountain men rose up in geographic and economic expansion driven by huge earnings in the North American fur trade (wickipedia).
The directors need to be able to view the financial performance of the group in order to make relevant and informed decisions. In order to obtain this information the correct procedures, as mentioned, must be followed to ensure that assets are not overstated and liabilities
receive bank financing for this new entity of HKD 2.3bn as a Delay Draw Term Loan (“DDTL”) plus HKD
It was the summer of 94 when I took a Wilderness Leadership Semester from the Colorado Outward Bound School . Needless to say that it was the most emotional, challenging, and rewarding experience that I have had in all of my 19 ears of existence. One week spent running the Upper Green River in westernColorado and northern Utah. Through The Gates of the Ladour Canyon and Dinosaur National Monument, we floated to end where the Green meets the Colorado River just beyond Echo Canyon. The high desert canyons echoed with rapids ovarious classes; Hells Half Mile and Disaster Falls were the most memorable.
The registration statement contains information about the offering itself along with other information about the company, such as the company's financial statements, management background, any legal issues the company may be involved in, insider holdings, and where the raised capital will be used within the company.
This is a publicly traded company in the US that has been ding quite well in the recent years. The company’s 10k filing for the year 2014. From this statement, the risks facing the company will be identified classified and suggestions made on how best to mitigate them in the subsequent areas. There are various areas that the risks can arise based on the company’s 10k filling (Mertz, 1999).
The second purpose is to disclose risk faced by the company to public including stakeholders and shareholders. Companies are obliged to disclose all the necessary information that is related to the performance of the company to stakeholders and shareholders. This is probably preventing shareholders to make wrong decisions in their investments due to insufficient information provided by the company.
Preparing general-purpose financial statements can be simple or complex depending on the size of the company. Some statements need footnote disclosures while other can be presented without any. Details like this generally depend on the purpose of the financial statements.
Crowdfunding is a new sector and is still developing. It is an exciting opportunity for many of the new, small and medium scale industries whose proposals are rejected by the banks.It may be confusing to most of the users as it is presented in many ways. We have there aspects in Crowdfunding investments or donations, platform, project creators. Crowdfunding works as first the idea or the proposal of the person is uploaded into the platform in which all the donators are registered. The donators view the proposal of the person and then decide to invest o...