Archive for December, 2008

Ownership of restricted stock in a company usually means (no one!)  can sell their stock or borrow funds using their stock certificates as  collateral without the agreement of the other stockholders.

Restricted stock means exactly that…restricted!  There is a reason for small  business enterprises to put a restriction on the stock of all the shareholders.  You want to be sure no one can put a financial obligation (responsibility) on  your future in the company.

The RESTRICTION must be clearly printed or typed on ALL stock certificates that  are issued. Otherwise, you may be in for a REAL surprise. You may never be  aware that another stockholder has failed you (not lived up to their agreement)  unless he/she defaults (fails to pay) back the loan.

You obviously know that not everyone honors his/her agreements. Some folks  never seem to worry or be concerned about the consequences of their actions.  Dishonesty or lack of integrity is not a concern to them.

A big spender or gambler who is a partner (owns stock) in your firm may just  decide to take their stock certificate/s down to their friendly banker. Reason?  It’s not important! Use their stock certificate to borrow personal funds without  your knowledge.

It seems so harmless! It is…UNLESS they cannot pay back the loan.  Then it becomes YOUR problem, too! You may need funds to finance the business.  Our friendly banker says, sorry…. tough break….etc. Your collateral (value) of  the business is now less the amount of the outstanding (personal) debt.

Your banker will not know about the restriction on your stock (unless)….the  notification has been recorded on each stock certificate. Otherwise, it may as  well not exist as a requirement in your corporate agreements. YOUR ATTORNEY  must make sure the NOTICE is recorded on EACH stock certificate. Something  like….”This stock certificate cannot be used to guarantee any loan, etc.”…

Your attorney must be top notch. Sharp. Knowledgeable. Up to date.  The very best you can find. Dollars well spent….a member of your important  ADVISORS TEAM!

You must have your OWN attorney. Only then can you expect to have someone  looking out TOTALLY for your interest. Anyone who has ever said…”whatever  YOU want will be OK with me, just let YOUR attorney write it out for us”….can  almost be assured of the SHAFT!

Is this an important concern? For you? I don’t know. Ask any wife/husband  who have been thru a divorce. You can be sure they will advise you to have your own attorney. THIS IS IMPORTANT!

The same is true for you in your own business. Even if you are a proprietor  (own it all!) you still must have professional guidance. Most of us are laymen  (not experts) in the field of legal issues. Your money is well spent when you  can sleep in peace knowing that you have done your best to protect the future  of your family and your business.

Just remember that some folks do not always follow the rules. As a matter  of fact, it is often a challenge to them to see what they can get by with today.  They have NO concern about putting YOU at RISK.

Even when you have the best lawyers with outstanding credentials…. there  are No guarantees. An agreement is no better than the parties (individuals)  who are involved and those who attest to its validity and their concurrence.

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BUSINESS TIP:  Restricted STOCK must have the NOTICE recorded directly  on the stock certificate.  This is a contractual requirement.  Your banker  needs to be INFORMED about your business.  Accept No responsibility for LOANS without personal CONTROL OF THE ASSETS. Protect your family!

List your Business on the #2 Virtual Mall on the Internet

ShopRMall.com, Online Shopping Mall, Limited Time Price Reduction
Charlotte, NC 12/04/2008 08:03 PM GMT (TransWorldNews)

ShopRMall.com, The #2 Virtual Mall on the Internet has reduced the price for businesses to be listed in their online shopping mall.  ShopRMall.com is an online shopping mall that offers direct links, coupons, and special offers for over 1,000 name brand and specialty stores.

Ranking.com ranks ShopRMall.com #2 in the category of Shopping/Retailers/Virtual_Malls and gives ShopRMall.com a traffic ranking of #10,602 among all sites on the Internet. Ranking.com calculates the online popularity of the top one million websites in the world and is a trusted source for market research.

Businesses can be listed on ShopRMall.com for only $79.95 per year. Businesses wishing to be added to ShopRMall.com can lock in the price reduction for up to 5 years. The normal price is $159.95. This special offer expires on December 31, 2008.

Online businesses in ShopRMall.com include brand-names stores such as Bloomingdales, Macy’s, Sears, Kohl’s, Target, Eddie Bauer, Barnes & Noble, Zappos, and The Gap.

ShopRMall.com has a shoppers club with over 100,000 club members. The ShopRMall.com Shoppers Club is FREE and uses a double opt-in email for members to join. ShopRMall.com is opposed to unsolicited emails (Spam) in all its forms and does not sell their subscriber list.

In 1999, Eric J. Katowitz, a professional multi-platform engineer and graphic designer with Cire Web Site Design & Hosting, and Mitch Webb, a marketing sales consultant and information architect at Cire Computer Productions, Inc., launched ShopRMall.com to provide greater visibility to their web design and web hosting customers. The online shopping mall became an immediate success with the number of visitors growing exponentially every year.

ShopRMall.com and Cire Web Site Design & Hosting are owned by Cire Computer Productions, Inc., an e-commerce technology, SEO, and interactive Internet services developer.

www.shoprmall.com/join