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move-to-py-tad3-docs.txt
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move-to-py-tad3-docs.txt
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## Use claimable balances for restricted shares # and stock grant
# Sorobon for stock options
# todo: move to internal/contracts
include:
- clause for uncertificated shares + conversion thereof in toto
- if private, clause recognizing all private sales as undeniable
- blanket Rule 144 release clause
- blanked post-IPO lockup release
- recognition of fractional shares in any denomination
- blanket indemnification against accounting standards review
- As applicable: all stock certificates previously issued by the Company are voided and cancelled, and all shares are recorded in electronic, book-entry form (i.e., uncertificated shares). If you have in your possession a Company stock certificate, please note that it does not represent any currently outstanding shares of the Company and, consequently, you should not deposit any such certificate with your broker. If you find any outstanding stock certificates in your possession, please return the certificates to the attention of Shredding Facilities, 99 Wall Street #4640, New York, NY 10005.
- operating clause: The Company does not currently and has never previously at the issuance of offered securities: had no or nominal operations and either (i) no or nominal assets, (ii) assets consisting solely of cash and cash equivalents, or (iii) assets consisting of any amount of cash and cash equivalents and nominal other assets.
- clause that lets them pay late, but 10% of their contract value will be added pro rata to their next bill for each month a late payment is made, starting 3 business days after due date
- blanked denial of right of first refusal or any oversight of seconday transactions
- (private) clause that says we will not restrict sales to new outside investors to prevent reaching the registration requirement shareowner threshold [+affidavit clause that they will send us a notice within five business days of reaching 10M thresh]
# todo: move to GTassets/#authSharesNotIssued, revise affiliate holding scheme
holding account federation descriptions:
private.affiliate.holdings
Control securities for private issuers which require special resale provisions.
reserved.employee.holdings
Undistributed stock allocated under an employee benefit plan.
offering.holdings
reg.a
Undistributed stock allocated for a Regulation A offering.
reg.cf
Undistributed stock allocated for a Regulation CF offering.
reg.d
Undistributed stock allocated for a Regulation D offering.
treasury.holdings
Treasury stock held by an issuer.
(including schema for federation resolution)