Monthly Archives: October 2012

Ti-iii-iii-ime is on YOUR side. Yes it is.

With our new fleXBRL Program, many of our XBRL clients are singing an entirely different Stones tune.

The refrain “I can’t get no satisfaction” (from lack of control) has been silenced. Our three-tiered program delivers the control and choice of workflow that will satisfy your strict internal review process.

Which of our fleXBRL tiers best fits your company and accounting department? Click here to compare and share.

You can always get what you waa-hant – for next quarter’s XBRL anyway.

Have a great day.

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Last week’s IPOs and Transactions

There were 42 transactions filed with the SEC last week.

Congratulations to all of our clients and law firms that used our transactions services last week including Transwitch Corp. (NASDAQ), Response Genetics, Inc. (NASDAQ) and MusclePharm Corp. (OTC). We appreciate that they selected to work with us for this important step in their company’s growth.

Click here and opt-in to receive this weekly summary via email.

Company Name Symbol Form Exchange Advisor / Law Firm
2-TRACK GLOBAL, INC. TOTG 10-12G 2-Track USA, Inc.
ADCARE HEALTH SYSTEMS INC ADK S-3 NYSE Rogers & Hardin LLP
AMICUS THERAPEUTICS INC FOLD S-3 Nasdaq Amicus Therapeutics, Inc.
ARROW CARS INTERNATIONAL INC S-1 Law Offices of David E. Wise, P.C.
BRIGHT HORIZONS FAMILY SOLUTIONS INC. S-1 Bright Horizons Family Solutions Inc.
BRIGHT HORIZONS FAMILY SOLUTIONS INC. S-1 Ropes & Gray LLP
BRIGHT HORIZONS FAMILY SOLUTIONS INC. S-1 Simpson Thacher & Bartlett LLP
COVER ALL TECHNOLOGIES INC COVR S-3 NYSE Sills Cummis & Gross P.C.
CREDIT SUISSE ASSET MANAGEMENT INCOME FUND INC CIK N-2 NYSE Willkie Farr & Gallagher LLP
CUSTOMERS BANCORP, INC. CUUU S-3 Stradley Ronon Stevens & Young, LLP
ENOVA SYSTEMS INC ENA S-3 NYSE Reed Smith LLP
FLAHERTY & CRUMRINE PREFERRED & INCOME ALLOCATION FUND INC N-2 Willkie Farr & Gallagher LLP
GEO POINT RESOURCES, INC. S-1 Leonard W. Burningham, Esq.
HAMPTON ROADS BANKSHARES INC HMPR S-3 Nasdaq Hampton Roads Bankshares, Inc.
HAMPTON ROADS BANKSHARES INC HMPR S-3 Nasdaq Williams Mullen
HERITAGE FINANCIAL GROUP INC HBOS S-3 Nasdaq Bryan Cave LLP
KALLO INC. KALO S-1 OTC Law Office of Conrad C. Lysiak, P.S.
MUSCLEPHARM CORP MSLP S-1 OTC Jones & Keller, P.C.
MUSCLEPHARM CORP MSLP S-1 OTC Reed Smith LLP
NANOVIRICIDES, INC. NNVC S-3 OTC Kane Kessler, P.C.
NAVARRE CORP /MN/ NAVR S-3 Nasdaq Navarre Corporation
NAVARRE CORP /MN/ NAVR S-3 Nasdaq Winthrop & Weinstine, P.A.
ORCHID ISLAND CAPITAL, INC. ORC S-11 Graubard Miller
ORCHID ISLAND CAPITAL, INC. ORC S-11 Hunton & Williams LLP
PRECISION OPTICS CORP INC PREO S-1 OTC Trombly Business Law, PC
RESPONSE GENETICS INC RGDX S-3 Nasdaq Willkie Farr & Gallagher LLP
ROCKDALE RESOURCES CORP BBLS S-1 OTC Hart & Trinen, LLP
SANDRIDGE ENERGY INC SD S-3 OTC Covington & Burling LLP
SANDRIDGE ENERGY INC SD S-3 OTC SandRidge Energy, Inc.
SQN AIF IV, L.P. S-1 Troutman Sanders LLP
STARZ ENTERTAINMENT, LLC S-4 Sherman & Howard L.L.C.
SUFFOLK BANCORP SUBK S-1 Nasdaq Wachtell, Lipton, Rosen & Katz
SYNERGY PHARMACEUTICALS, INC. SGYP S-4 Nasdaq Gracin & Marlow, LLP
SYNERGY PHARMACEUTICALS, INC. SGYP S-4 Nasdaq Sichenzia Ross Friedman Ference LLP
TRANSWITCH CORP /DE TXCC S-3 Nasdaq Pierce Atwood LLP
UNITED INSURANCE HOLDINGS CORP. UIHC S-1 OTC Foley & Lardner LLP
UNITED INSURANCE HOLDINGS CORP. UIHC S-1 OTC Troutman Sanders LLP
VIRTUSA CORP VRTU S-3 Nasdaq Goodwin Procter LLP
VIRTUSA CORP VRTU S-3 Nasdaq Virtusa Corporation
WESTBURY BANCORP, INC. S-1 Luse Gorman Pomerenk & Schick, P.C.
WISHBONE PET PRODUCTS INC. S-1 Nevada Agency & Trust Company
WOWIO, INC. S-1 Richardson & Patel LLP

Have a great day.

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RetailInvestorConferences.com 2013 event dates now available: stop putting your CEO on a plane

We’ve just released the calendar for RetailInvestorConferences.com 2013’s events.

Beyond the obvious liquidity a loyal retail base can offer, here are a few more quick points why this series has been successful for issuers:

…Simultaneous, equal engagement with both individual and institutional investors

…Content creation: an “online road-show”

…Easy, affordable and blissfully TRAVEL FREE alternative to physical conferences

…Broad and sector-targeted pre and post event marketing to Wall Street and Main Street

…Clearly establishes your company’s position towards open dialog with individual investors

Please contact me to secure your 2013 date.

In addition to future planning, keep these dates in mind for “spontaneous” news announcements. We have squeezed companies into a month’s agenda at the last minute.

  • January 10, 2013
  • February 7, 2013
  • March 7, 2013
  • April 4, 2013
  • May 5, 2013
  • June 6, 2013
  • July 11, 2013
  • August 1, 2013
  • September 2, 2013
  • October 3, 2013
  • November 7, 2013
  • December 5, 2013

Have a great day.

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Happy Birthday Retail Investor Conferences.com… Happy Birthday Retail Investor Conferences.com… Happy Birthday dear Retail Investor Conferences.coooom… Happy Birthday to you!*

Look who’s two!

Since November 2010, RetailInvestorConferences.com has introduced thousands of investors IN REAL-TIME to companies of all market cap, industries and countries. We hold one conference each month which allows IROs to plan ahead or to be spontaneous if they have immediate news to share. The next event is November 1.

In line with being two, here are just two of the key drivers of its success:

1.) Companies have an easy and consistent resource to engage individual investors… important when the board asks “so, what are we doing with retail?”

2.) Investors have direct UNFILTERED access to CEO and senior executive.
The virtual trade booth is a live, real-time chat. That’s pretty dang transparent and a good step towards building trust.

Companies come to present at RetailInvestorConferences.com either as an “a la carte” purchase or as part of our Capital Markets Visibility 365 program.

Previous blog posts of interest:

http://irblog.prnewswire.com/2012/05/04/real-questions-from-real-investors-really/

http://irblog.prnewswire.com/2012/09/19/worlds-largest-particle-accelerator-nasa-curiosity-mars-rover-our-virtual-investor-conference-platform/

http://irblog.prnewswire.com/2012/10/15/this-particular-conference-will-be-very-important-and-could-lead-to-significant-upside/

*Yes, there’s way too many syllables for the birthday song but everybody should be sung to on their birthday.

Have a great day.

The power of content marketing (via investor relations)

This week, we supported another content marketing conference  – the Inbound Marketing Summit, Boston. In addition to exhibiting, I participated on a panel to discuss Agile Marketing and was interviewed by The Pulse Network to discuss content marketing (I have a face for audio webcasts, no slides).

Besides content marketing, the video interview veered to investor relations (as a function) and its general view on content marketing. Sadly, IR recently showcased a great example of the power of content marketing.

Last Thursday was the perfect storm of three content market strategies aligning simultaneously: 1.) story  2.) timing and 3.) context. Look at the results. It happened in moments.

Had Google’s earnings story been positive, would the drop been different? We all know that answer. But that’s moot.

Working with the story we have (missed expectations), the topic of timing is the discussion. If the 8-k was not mis-sent dabsmack center during the trading day but sent after the market close as the company planned, the IR team would have had both the conference call and the subsequent hours til market open to execute investor relations with their shareholders – to explain the story in context of the future steps and adjustments for the company: IE guidance.

1.) story  2.) timing and 3.) context.  Investor relations and content marketing have a lot in common.

Have a great day.

The mosaic of shareholder communications

The National Investor Relations Institute (NIRI for you out of the core niche) have been producing excellent survey information from their membership.

Their most recent paper is a survey regarding companies switching exclusively to a web disclose model for the broad release their material news.

This model came from a 2008 revisiting on 2000’s RegFD regulation. In context of IR, web disclosure refers to the practice of public companies distributing their material news via their own channels and networks rather than using a newswire.

Frankly, we’ve never focused on this – we are a vendor.  We are OBVIOUSLY biased toward any “best practices” that prefer the use our products. Instead, we just focus on “best products” and totally trust that clients and prospective clients can decide for themselves what strategy works for best for them and for their shareholders.

Read the NIRI report here.

Please review their report. My read on the NIRI report is that shareholder communications (like any modern marketing) is a mosaic of media and messages. Coincidentally, we doooooooo happen to have shareholder communications tools that touch all the communication points discussed in the study.

Newswire, IR websites, earnings webcasts, SEC filing: regardless of the individual tiles in your IR mosaic with us, we are thankful for your business.

Have a great day.

Last week’s IPOs and Transactions

There were 53 transactions filed with the SEC last week.

Congratulations to all of our clients and law firms that used our transactions services last week including Medgenics, Inc. (NYSE), Lone Star Gold, Inc. (OTC) and Repros Therapeutics, Inc. (NASDAQ). We appreciate that they selected to work with us for this important step in their company’s growth.

Click here and opt-in to receive this weekly summary via email.

Registrant Symbol Form Exchange Advisor / Law Firm
800 COMMERCE, INC. S-1 Martin & Pritchett, P.A.
ACADIA HEALTHCARE COMPANY, INC. ACHC S-3 Nasdaq Waller Lansden Dortch & Davis, LLP
AZURE HOLDING GROUP CORP. S-1 Zouvas Law Group, P.C.
BEAVER CREEK PIPELINE, L.L.C. S-4 Vinson & Elkins L.L.P.
BIOPHARMA MANUFACTURING SOLUTIONS INC. S-1 Cassidy & Associates – Lee W. Cassidy
CAESARS ENTERTAINMENT CORP CZR S-4 Nasdaq Paul, Weiss, Rifkind, Wharton & Garrison LLP
CITY HOLDING CO CHCO S-4 Nasdaq Jackson Kelly PLLC
CITY HOLDING CO CHCO S-4 Nasdaq Silver, Freedman & Taff, L.L.P.
COIL TUBING TECHNOLOGY, INC. CTBG S-1 OTC Loev Law Firm, PC
CORNERSTONE STRATEGIC VALUE FUND INC CLM N-2 NYSE Blank Rome LLP
CORNERSTONE TOTAL RETURN FUND INC CRF N-2 NYSE Blank Rome LLP
CREATIVE APP SOLUTIONS, INC. S-1 Creative App Solutions, Inc.
FREESEAS INC. FREE F-1 Nasdaq Broad and Cassel
FS INVESTMENT CORP II N-2 Alston & Bird LLP
FS INVESTMENT CORP II N-2 Dechert LLP
GULF SOUTH PIPELINE COMPANY, LP S-4 Vinson & Elkins L.L.P.
HOWARD HUGHES CORP HHC S-3 NYSE Jones Day
IMMUDYNE, INC. IMMD S-1 Newman & Morrison LLP
INTERNATIONAL STEM CELL CORP ISCO S-1 OTC DLA Piper LLP
LIBERTY SPINCO, INC. 10-12B Liberty Spinco, Inc.
LONE STAR GOLD, INC. LSTG S-1 OTC Anslow + Jaclin, LLP
M&T BANK CORP MTB S-4 NYSE Hudson City Bancorp, Inc.
M&T BANK CORP MTB S-4 NYSE Sullivan & Cromwell LLP
M&T BANK CORP MTB S-4 NYSE Wachtell, Lipton, Rosen & Katz
MARCUS CORP MCS S-3 NYSE Foley & Lardner LLP
MARKWEST HYDROCARBON INC MWP S-3 Vinson & Elkins L.L.P.
MEDGENICS, INC. MDGN.WT S-3 NYSE Barack Ferrazzano Kirschbaum & Nagelberg LLP
MIDWAY GOLD CORP MDW S-3 NYSE Dorsey & Whitney LLP
MILLENNIAL MEDIA INC. MM S-1 NYSE Cooley LLP
MILLENNIAL MEDIA INC. MM S-1 NYSE Millennial Media, Inc.
MILLENNIAL MEDIA INC. MM S-1 NYSE Wilson Sonsini Goodrich & Rosati PC
NEXTIER SOLUTIONS CORP S-4 Paul, Weiss, Rifkind, Wharton & Garrison LLP
ORIENTAL FINANCIAL GROUP INC OFG S-1 NYSE Cleary Gottlieb Steen & Hamilton LLP
ORIENTAL FINANCIAL GROUP INC OFG S-1 NYSE Skadden, Arps, Slate, Meagher & Flom LLP
QVC INC S-4 Sherman & Howard L.L.C.
REPROS THERAPEUTICS INC. RPRX S-3 Nasdaq Jackson Walker L.L.P.
RESOURCE REAL ESTATE OPPORTUNITY REIT II, INC. S-11 DLA Piper LLP
SHELLPOINT MORTGAGE ACCEPTANCE LLC S-3 SNR Denton US LLP
TORNIER N.V. TRNX S-3 Nasdaq Oppenheimer Wolff & Donnelly LLP
TRIANGLE PETROLEUM CORP TPLM S-3 NYSE Skadden, Arps, Slate, Meagher & Flom LLP
TUMI HOLDINGS, INC. TUMI S-1 NYSE Cravath, Swaine & Moore LLP
TUMI HOLDINGS, INC. TUMI S-1 NYSE Skadden, Arps, Slate, Meagher & Flom LLP
U.S. WELL SERVICES, LLC S-4 Porter Hedges LLP
UNIGENE LABORATORIES INC UGNE S-1 OTC Reed Smith LLP
UNITED DEVELOPMENT FUNDING IV S-11 Morris, Manning & Martin, LLP
UNITED DEVELOPMENT FUNDING IV S-11 Proskauer Rose LLP
VOYAGER OIL & GAS, INC. EOX S-3 NYSE Mayer Brown LLP
VOYAGER OIL & GAS, INC. EOX S-3 NYSE Voyager Oil & Gas, Inc.
WINTRUST FINANCIAL CORP WTFC S-4 Nasdaq Barack Ferrazzano Kirschbaum & Nagelberg LLP
WINTRUST FINANCIAL CORP WTFC S-4 Nasdaq Sidley Austin LLP
WISDOMTREE INVESTMENTS, INC. WETF S-3 Nasdaq Goodwin Procter LLP
YY INC. F-1 Simpson Thacher & Bartlett LLP
YY INC. F-1 Skadden, Arps, Slate, Meagher & Flom LLP

Have a great day.

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Infographic & question #6: Do you exercise your annual proxy vote?

Is communication, transparency and access leveling retail and institutional behavior? How they exercise their voting rights is amazingly similar.  Here are the results from all the questions (so far).

Preventing yesterday from happening tomorrow

Due to the nature of this blog, I have a vested interest in discussing yesterday’s RR Donnelley and Google affair. To be clear, RR Donnelley is a competitor and I want all their clients to switch to us. In fact, I want everyone to use PR Newswire and Vintage Filings.

Now that’s cleared up, let’s talk about IR and compliance.

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Yesterday’s pre-release of Google’s earnings numbers had the media, industry and pundits in a tizzy. StockTwits’ $GOOG and $RRD feed was blazing with blame and snark. CNBC was giddy with experts. Ouch. From an investor relations and compliance officer perspective, this is the stuff of nightmares.

The disclosure/compliance product points that come to mind: control and content

Google passed on control of their draft SEC file, assumingly to give RRD time to correctly format the financial tables. Replacing the “PENDING LARRY QUOTE” text would be a simple cut-n-paste of the real content once closer to the final submission.

Controlling one’s own “SEC destiny” is a very current topic in this blog, birthed from the recent release of our new fleXBRL Program.

Bottom-line for companies: if they wish, control (workflow) over their SEC filings can remain with the company right up to the final “Submit” by the company’s internal team. That is a real boon for XBRL and can be for straight-up EDGAR as well.

Google has taken steps to control their content. As written up in IR Magazine yesterday, Google practices “web disclosure,” which simply means Google does not use a newswire service to disclose their material news. In line with RegFD, they are their own recognized distribution channel. That can work for you when you are $200B+ market cap and 85% institutionally held. Being omnipresent as Google helps here too.

That brings us to the moneyball question: can a newswire prevent yesterday’s gaffe from happening again? Not at all… if the 8-K file is sent separately to an independent EDGAR filer. It would be moot to have the earnings release edited and scheduled correctly with a newswire service if the 8-K is pre-released by an independent EDGAR shop. Additionally, this model means the IRO must simultaneously control two vendors and their disparate filing processes. On earnings day.

Being a company man, I’d like to think our integrated PR and SEC workflow would have prevented this very uncomfortable pre-release. The earning announcement would have had to 1.) get through our extremely attentive press release editors and then 2.) passed onto our 8-K filing desk for their expert review. Single vendor workflow (control) with dual editorial processes.

(That’s the sales pitch, BTW, regarding the value Vintage Filings adds to our newswire disclosure.)

The take away: Control your SEC processes. Streamline your disclosure paths. More eyeballs reviewing content is smart.

Have a great day.

XBRL Detailed Footnote Tagging webinars to earn CPE credits – Oct. 23rd & 30th

We’re pleased to sponsor these two educational XBRL webinars. Learning objectives: provide you with the continuing skills needed for mapping and tagging your XBRL detailed footnotes. The registration link is at the bottom of this post and it is a special “I-am-a-reader-of-this-content-rich-IR-and-SEC-compliance-blog” rate!

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Introduction to XBRL Detailed Footnote Tagging: Session I 
October 23, 2012, 2:00 – 3:30pm ET

2 CPE credits, NASBA Field of Study: Accounting

Topics include:

  • Review of SEC requirements for footnote tagging
  • Taxonomy summary and data tagging trends year 1 vs. year 2
  • Process framework
  • Basics of detailed tagging: nomenclature, taxonomy structure, non-dimensionalized structure, more
  •  Things you need to know”
  •  Q & A throughout the presentation – all registrants will be encouraged to queue a question

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Introduction to XBRL Detailed Footnote Tagging: Session II
October 30, 2012, 2:00 – 3:15 pm ET

1.5CPE credits, NASBA Field of Study: Accounting  - NOTE: Session I is a pre-requisite

Topics include:

  • Brief review of Session I content with additional Q & A
  • Advanced Detailed Tagging: Multiple dimensions, multiple axes and calculations
  • “Things you need to know” and specific scenarios from participants

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Presented by XBRL.US:

  • Gregg Saunders, Lead Taxonomist, XBRL.US
  • Ron Schechter, Manager of XBRL Services, Vintage Filings

Special Price: $79 per session, or both sessions for $139
Please register
 online here

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