Monthly Archives: March 2012

Johnson & Johnson reboots their proxy materials with an “eye toward redesigning it for the individual investor”

NYSE held a smart webcast this week. Very interesting thoughts came from the panel in regard to the communications of proxy materials and the effort to consider the retail investor… “proxy statement is a selling tool”

The image below shows the panel ( some of our clients and partners). Here are links to one of the moderator’s synopsis as well as a link to the actual webcast.

One germane point (to me at least) from the webcast – financial printing does NOT need to be dry. Our presses are always running “glossy” full color work for clients – not just the straight-up high volume black and white work.

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Have a great day.

From the Jan 2012 archives: Preparing Your 10-K in XBRL

Per yesterday’s blog, you can understand why my brain hurts. Incredibly detailed work.

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Have a great day.

The importance of your pro forma is to set your basic XBRL structure

As an industry, we’re no longer wet behind the ears in regard to XBRL. We all recognize it’s a more labor intensive process (… why companies hire us) and filing 10-Qs and 10-Ks using XBRL is a multi-step process.

However, XBRL’s foundation is your tried-and-true pro forma draft

Left: teammate Ron Schechter, ex- SEC XBRL Quality Assurance. He’s so smart, my brain weeps after meetings.

The importance of the pro forma is to get the basic structure of the document set along with tagging the majority of the document. Your financial statements may have changes in structure, line items and footnotes since your last filing – that is to be expected. The pro forma does not need to have finalized numbers. The purpose is to focus on the raw structure.

The subsequent first draft is used to solidify the structure of the document and finalize tagging. At this point – in most cases, – all structure should be complete. All footnotes and tables are present, all new line items are finalized and nearly all numbers are filled in for the current period.

This allows our [Vintage Filings] XBRL specialists to complete the structure for the document, perform value analysis to ensure that all related values throughout the document match where appropriate and all columns foot appropriately. We analyze all negative values to ensure they are in accordance with XBRL best practices.

The final draft is used to finalize the numbers and text of the footnotes. At this point the document turn around should be quicker since no new structural changes are introduced. Once your draft is finalized no further changes affecting XBRL should be made.

Well, off to meet with Ron (sniff sniff) to discuss (sob, sob) XBRL Dimensions.

Have a great day.

Snapshots from USA IR Awards 2012

A very fine affair on Thursday night. Below are a few images – I captioned as many as I could and will fill in the names as I uncover them.

ALSO! If you are in a photo and want a high-rez version, please email me at bradley.smith@prnewswire.com. I have a bunch more – including embarrassing ones.

Click on an image to enlarge it.

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Beautifully decorated

Full house!

Ready to serve

Jeff Morgan, CEO National Investor Relations Institute (NIRI)

Team from Robert Webster – they ( as did many people ) thought I was the night’s official photographer and asked me to take their team photo :)

Dennie Kimbrough, IRO – Microsoft & John Viglotti, VP – PR Newswire

The Winners Table! Jillian Psenicka – PR Newswire, Brian Geffer – Allergan, Alain Laurtent – PR Newswire, John Viglotti – PR Newswire, Judy Forest – PR Newswire, Natasha Rodriguez – PR Newswire

Liam Power, SVP – PR Newswire, Sara Altschul, General Council – PR Newswire

Evening host, Neil Stewart, Editor at Large – IR Magazine

Greg Jawski, Emanate PR (right), enjoys some PR Newswire hospitality with Andrew Meranus, SVP & Sara Altschul General Council – PR Newswire

Natasha Rodriguez & Jillian Psenicka – PR Newswire


Scott Mozarsky, CCO – PR Newswire & Marc Edwards – PR Newswire, hosted executive Aaron Palash from Joele Frank

Rebecca Updegraph – Open Exchange, Lee Marshall – Geico / Dairy Queen ;)

Team Q4 from Canada – Catherine Crofton, Darrell Heaps, Sheryl Joyce, Karen Adams ( they are very close )

Partner Amber Seidel, VP – Ipreo

Alain & Scott

Judy, Alain & Amy Ellis-Simon, Managing Director – Bank of America Merrill Lynch. They held a great seminar earlier in the day.

Amy Solomon – BNY Mellon

B-B-B-Bunny and the Jets

VIVPs Andrew & John


Winning + champagne = this photo!

I think that’s Peter Lawford on the left

Jason Fooks & Narissa Khan from iStar Financial enjoy a bit o’ the blarney with Liam

Scottmo doing the Tebow. The crowd went crazy!

Must be a virus – like Bieber Fever

Have a great day.

Last week’s IPOs & Transactions

There were 64 transactions filed with the SEC last week.

Congratulations to all of our clients that filed last week, including American Realty Capital Trust, CIS Acquistion and Secure IT Corp. We appreciate that they selected to work with us for this important step in their company’s growth.

Registrant Symbol Form Exchange Advisor / Law Firm
AASTROM BIOSCIENCES INC ASTM S-3 Nasdaq Goodwin Procter LLP
AMERICAN BAR ASSOCIATION MEMBERS / NORTHERN TRUST COLLECTIVE TR   S-1   Sidley Austin LLP
AMERICAN REALTY CAPITAL TRUST IV, INC.   S-11   Proskauer Rose LLP
APOLLO RESIDENTIAL MORTGAGE, INC. AMTG S-11 NYSE Clifford Chance US LLP
AVI BIOPHARMA INC AVII S-3 OTC Markets Latham & Watkins LLP
AVI BIOPHARMA INC AVII S-3 OTC Markets White Summers Caffee & James, LLP
BERRY PLASTICS GROUP INC   S-1   Berry Plastics Corporation
BERRY PLASTICS GROUP INC   S-1   Cahill Gordon & Reindel LLP
BERRY PLASTICS GROUP INC   S-1   Wachtell, Lipton, Rosen & Katz
BGC PARTNERS, INC. BGCP S-3 Nasdaq Morgan, Lewis & Bockius LLP
CIS ACQUISITION LTD.   F-1   Forbes Hare
CIS ACQUISITION LTD.   F-1   Loeb & Loeb LLP
CLOVIS ONCOLOGY, INC. CLVS S-1 Nasdaq Latham & Watkins LLP
CLOVIS ONCOLOGY, INC. CLVS S-1 Nasdaq Willkie Farr & Gallagher LLP
CRYOPORT, INC. CYRX S-1 OTC Markets Snell & Wilmer L.L.P.
DURATA THERAPEUTICS, INC.   S-1   Davis Polk & Wardwell LLP
DURATA THERAPEUTICS, INC.   S-1   Wilmer Cutler Pickering Hale and Dorr LLP
EDWARDS GROUP LTD   F-1   Davis Polk & Wardwell LLP
EDWARDS GROUP LTD   F-1   Weil, Gotshal & Manges LLP
E-WASTE CORP.   S-1   Harrison Law, P.A.
GINKGO RESIDENTIAL TRUST INC.   S-11   Clifford Chance US LLP
GINKGO RESIDENTIAL TRUST INC.   S-11   Hunton & Williams LLP
HALCON RESOURCES CORP HK S-3 Nasdaq Thompson & Knight LLP
HALLMARK HEALTHCARE COMPANY, LLC   S-4   Kirkland & Ellis LLP
HEELYS, INC. HLYS S-3 Nasdaq Locke Lord LLP
HOMEOWNERS CHOICE, INC. HCII S-3 Nasdaq Foley & Lardner LLP
HOMEOWNERS CHOICE, INC. HCII S-3 Nasdaq Homeowners Choice, Inc.
ILLINOIS TOOL WORKS INC ITW S-4 NYSE Drinker Biddle & Reath LLP
LEVEL 3 COMMUNICATIONS INC LVLT S-4 NYSE Willkie Farr & Gallagher LLP
METROPOLITAN HEALTH NETWORKS INC MDF S-3 NYSE Greenberg Traurig, P.A.
MONACO SPINCO INC.   10-12G   MeadWestvaco Corporation
MONACO SPINCO INC.   10-12G   Skadden, Arps, Slate, Meagher & Flom LLP
MONACO SPINCO INC.   10-12G   Wachtell, Lipton, Rosen & Katz
NORIT N.V.   F-1   Cleary Gottlieb Steen & Hamilton LLP
NORIT N.V.   F-1   Skadden, Arps, Slate, Meagher & Flom LLP
NORTHEAST BANCORP /ME/ NBN S-1 Nasdaq Goodwin Procter LLP
NORTHEAST BANCORP /ME/ NBN S-1 Nasdaq Nutter McClennen & Fish LLP
NORTHSTAR REALTY FINANCE CORP. NRF S-3 NYSE Sullivan & Cromwell LLP
NOVALED AG   F-1   Latham & Watkins LLP
NOVALED AG   F-1   Sullivan & Cromwell LLP
OBJET LTD   F-1 Nasdaq Cooley LLP
OBJET LTD   F-1 Nasdaq Davis Polk & Wardwell LLP
OBJET LTD   F-1 Nasdaq Meitar Liquornik Geva & Leshem Brandwein
OBJET LTD   F-1 Nasdaq Yigal Arnon & Co.
OCEAN RIG UDW INC. ORIGV F-1 Nasdaq Morgan, Lewis & Bockius LLP
OCEAN RIG UDW INC. ORIGV F-1 Nasdaq Seward & Kissel LLP
PRUCO LIFE OF NEW JERSEY VARIABLE CONTRACT REAL PROPERTY ACC   S-1   Goodwin Procter LLP
PRUCO LIFE VARIABLE CONTRACT REAL PROPERTY ACCOUNT   S-1   Goodwin Procter LLP
PRUDENTIAL VARIABLE CONTRACT REAL PROPERTY ACCOUNT   S-1   Goodwin Procter LLP
REMARK MEDIA, INC. MARK S-3 Nasdaq Greenberg Traurig, LLP
SCBT FINANCIAL CORP SCBT S-3 Nasdaq Nelson Mullins Riley & Scarborough LLP
SECURE IT CORP   S-1   Law Offices of Jonathan D. Strum
SIGNAL ADVANCE INC   10-12G   Signal Advance, Inc.
SPECTRUM GROUP INTERNATIONAL, INC. SPGZ S-1 OTC Markets Kramer Levin Naftalis & Frankel LLP
SWIFT ENERGY CO SFY S-4 NYSE Baker Hostetler LLP
SWIFT ENERGY CO SFY S-4 NYSE Swift Energy Company
TESARO, INC.   S-1   Hogan Lovells US LLP
TESARO, INC.   S-1   Latham & Watkins LLP
TRANSGENOMIC INC TBIO S-1 OTC Markets Husch Blackwell LLP
UNITIL CORP UTL S-3 NYSE Dewey & LeBoeuf LLP
UNITIL CORP UTL S-3 NYSE Dewey & LeBoeuf LLP
W. P. CAREY INC.   S-4   Clifford Chance US LLP
W. P. CAREY INC.   S-4   DLA Piper LLP (US)
WESTINGHOUSE SOLAR, INC. WEST S-3 Nasdaq DLA Piper LLP (US)

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Post IPO, thousands of organizations count on us to assure regulatory compliance and target new investors.

Have a great day.

The IR Awards are nice acclaim for the under-appreciated

I’ve ALWAYS said this. I like the IR Awards a lot.

Kudos to Ian Richman and the CrossBorder / IR Magazine team for creating a truly fine, sincere and respectful event.

Of course, it’s a commercial venture – but that does not diminish the patina that it is a top-class event that rewards Investor Relations practitioners.

IR is a ridiculously hard job – iconicly punctuated by the CEO running down the hall yelling “why is our stock down?” A little spotlight is good for the entire niche (plus VERY rewarding for the actual winners).

PR Newswire – Vintage Filings likes to associate ourselves with events, organizations and people that love the business of  investor relations. We have a full brigade of executives on duty at tonight’s gig.  And judging by the “NIRI Booth Size Barometer,” many of my peers have pulled their support’s depth.  Not us. We’re a long-term investor in the niche – not just a day-trader.  : )

See you tonight as soon as my tux is out of the dryer!

Have a great day.

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Tonight’s attendees from PR Newswire – Vintage Filings

Scott Mozarsky, EVP & Chief Commercial Officer

Sara Altschul, SVP & General Council

Liam Power,Senior Vice President

Marc Edwards, Business Development

Alain Laurtent, Account Manager

Natasha Rodriguez, Account Manager, Agency Vertical

John Viglotti, Vice President

Andrew S. Meranus, Vice President, Business Development/Agency Markets

Jillian Psenicka, Business Development

David Dowling, Executive Account Manager

Judy Forest, Newswire Business Development

Bradley Smith, Director of Marketing

This media is VERY social with self-directed investors

RetailInvestorConferences.com has introduced thousands of self-directed investors directly to CEOs and senior executives from the Fortune 500 down to growth-hopeful companies trading under a buck.  Once a month, the two sides are engaging with one another.

And what do I mean by engaging? I mean conversing: asking questions in real-time during a presentation as well as “chatting” in RetailInvestorConferences.com’s lounge as well as the company’s’ “trade booth.”

Click to view image details.

This dialog is the best aspect of the platform. Forgive the marketing drama, but truly we are empowering the indiviudal investor. When was the last time you heard a Main Street voice on an earnings call? Exactly.

Cheers to the list of public companies who have stepped up to the “retail investor” plate. Congratulations to the individual investors themselves  who, for 17 consecutive monthly conferences, have broken down the stereotype that retail investors are inconsequential, bothersome blue hairs calling into IR once a year to see what the lunch will be at the annual shareholder meeting.

Self-directed investors have put their financial futures into their control.  They have questions as pertinent as institutional investors.

Have a great day.