Form SB-1

Form SB-1

An SEC form used by small businesses to register offerings of up to $10 million of securities, provided the company has not registered over $10 million in securities offerings during the preceding 12 months.
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Small businesses now may use newly created Form SB-1 to register offerings up to $10 million during any continuous 12-month period.
Although some Regulation A disclosure is used, Form SB-1 offerings are not exempt transactions as defined under Regulation A but merely a means for companies to make public offerings of registered securities with fewer disclosure requirements.
The SEC refers to registrants using Form SB-1 as transitional small business issuers.
The new form SB-1 transitional issuer registration statement may be used for public offerings of up to $10 million in any continuous 12-month period.
At the same time, the company also confirmed its ongoing process for the filing of Form SB-1 with SEC to be listed on the OTCBB; however, hiring a qualified Canadian legal and accounting firm is a crucial step for Pilgrim Petroleum Corporation," stated Rafael Pinedo, Company President and CEO.
Additionally, legal counsel for Group Management Corporation today confirmed that the Company has filed a form SB-1, registering for sale 11,666,666 shares of Kadalak Entertainment Group, Inc.
s registration statement on Form SB-1, relating to a secondary offering of its common stock by selling stockholders, became effective on February 4, 2000, and may be viewed on the Internet using the Netword: NTWD SB-1A.