Monthly Archives: August 2013

Fear and hate: two sound principles for “social media and IR”

To say the least, investor relations practitioners have not embraced social media, much to the chagrin of most social media ninjas. There are many reasons – and these objections are unique for investor relations departments… predominantly due to the legal nature and predatory audience of their communications.

Reasons include:

  • Insufficient quantitative ROI
  • Lack of staff bandwidth for traditional social media interactions
  • Extension of the zero “chat / stock bulletin board” interaction policy
  • Concern over inconsistent content flow
  • Continued discomfort regarding selective disclosure

Recent research has also shown that social media is taking a back seat for financial communications. Furthermore, Canada’s regulatory body, unlike the USA’s SEC, declared social media an inappropriate media for disclosure.

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So, should an IR department ignore social media? No
. Anyone in a communications role certainly understands INSTINCTIVELY that a media that has millions of people opted-in has potential. It may just be that from the IR perspective, the potential is still too undefined in comparison to marketing, customer service and crisis communications.

It is from the above hypothesis (…plus conversations with IROs), we counsel IR groups on the “tactical strategy” in this white paper. Download the white paper here.

Bottomline: social media is a bona fide newsfeed for millions of people, but for now, IR simply needs to get their news into the stream -with their cashtag- without creating any trace of RegFD risk nor adding any extra work. Risk and hands-free.

One part of shareholder communications is merely delivering content. What will having your news in the social stream bring to your company?

  1. It will assure your financial news is reaching an investor audience in the manner they prefer
  2. It will drive an audience to your investor relations website where those interested parties will view more about your company – even if it is a peripheral view.
  3. It will position your company as a brand that understands and embraces transparency and access in all communications media
  4. It will get the social media gurus to leave you alone

I apologize if we vendors have made social media seem too complicated. It’s not really. Especially for our investor relations website clients.

Have a great day.

I’ll IPO when I’m damn good and ready!

If you are a pre-IPO company, there is a key research report published by Timothy J. Keating, founder and President of Keating Investments. Mr. Keating performed detailed analysis of IPO pricing for the past 12.5 years to see if there was a strategically opportune time for a company to price. I encourage you to download (PDF) this report. It is a very accessible read.

From his research:

 “Contrary to conventional wisdom, and after allowing for prevailing technical market conditions, the IPO market is in fact systemically open most of the time

… On a systemic basis, the IPO window is in fact consistently open throughout the year—except for those weeks in which there is a holiday, or around a holiday.”

windowNYSEWhat does this mean to our S-1 registration clients? Plan your IPO pricing when you are confident with your financial ducks and IR messaging. The market will be here for you.

Preparing for an IPO is a monumental task. As you’ll see in this white paper, the S-1 draft registration ping-pong with the SEC alone can be stressful – especially if you have added an ill-advised “IPO Window” deadline.

The S-1 registration and your IPO pricing has to be perfect. It’s your first impression to build shareholder confidence with the broad market. Set your own deadline for success.

If you are interested is a weekly email recap of IPOs and all SEC transactions, please opt-in here.  It’s the same as we post here each week.

Have a great day.

Forbes: PR Newswire ranked #1

Wow. It’s always nice to be surprised with good news – and I certainly consider the Forbes article “The Press Release Revolution: A Wire Services Comparison Test” as “good news.”

From Forbes:

“Now for our overall results for the wire services who successfully achieve WSJ postings. A drumroll, please:

First Place: For number of pickups, PR Newswire – at the time of this writing, they had 37,000 WSJ results. (Note: These results are for WSJ pickups only. Other sources have noted that on the whole, PR Newswire and Business Wire are roughly equal for overall press posting results.)

Second Place: Business Wire, with 27,400 results.

Third Place: Marketwired, with 14,100 results.

Fourth Place: Globe Newswire, with 7,400 results.

Fifth Place: Thomson Reuters, with 2090 results.”

For investor relations, the article brought up a very important reminder regarding news distribution to major financial portals – and for us, the discussion is in context to “web disclosure” (which is the practice of sending a truncated news release or even NO release.)

Public company newsflow is ticker database driven. If you are practicing pure web disclosure and only posting news to your IR website, you are not getting into the stream. As you will read here, only one-third of investors receive news directly (web disclosure) from the company. If you need to truncated your news from a full-text releases (…mostly earnings), AOK, but I would suggest speaking with your account representative too. Perhaps you are not “strategically shopping” for services correctly.

Many thanks to the authors of the Forbes article and their research. 

forbes

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Have a great day.

Infographic & question #28: Do you use corporate earning guidance and analysts’ consensus in your investment decision process?

Should companies offer guidance? The universal answer is “yes” of course, but are your investor’s using your guidance? They are… and at par with analysts’ consensus numbers. Giving guidance, whether financial or non-financial, assures your voice is in the investor mosaic.

Click to get a full report.
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Learn more about all our investor relations services.

Review all the results from all the questions (so far).

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Last week’s IPOs and Transactions

There were 62 transactions filed with the SEC last week.

Congratulations to all of our corporations and law firms that selected our transactions services last week including Sterling Consolidated Corp. w/ Anslow + Jaclin LLP, Musclepharm Corp. w/ Sichenzia Ross Friedman Ference LLP and German American Bancorp Inc. w/ Barnes & Thornburg LLP and Mark Barnes Law PC. We appreciate that they selected to work with us and we’re pleased that they found us both accurate and affordable.

Free white paper – click image below!

IPO_banner_blog

Registrant Symbol Form Exchange Law firm / Advisor
STERLING CONSOLIDATED CORP STCC S-1 OTC Anslow + Jaclin, LLP
AROTECH CORP ARTX S-3 Nasdaq Arotech Corporation
GERMAN AMERICAN BANCORP, INC. GABC S-4 Nasdaq Barnes & Thornburg LLP
GRAYBAR ELECTRIC CO INC S-1 Bryan Cave LLP
EXONE CO XONE S-1 Nasdaq Buchanan Ingersoll & Rooney PC
VERISIGN INC/CA VRSN S-4 Nasdaq Cleary Gottlieb Steen & Hamilton LLP
CONSUMER PORTFOLIO SERVICES INC CPSS S-1 Nasdaq Consumer Portfolio Services, Inc.
RE/MAX HOLDINGS, INC. S-1 Davis Polk & Wardwell LLP
THL CREDIT SECURED FLOATING RATE DEBT, LTD. N-2 Dechert LLP
NETWORK 1 SECURITY SOLUTIONS INC NSSI S-1 OTC Eiseman Levine Lehrhaupt & Kakoyiannis, P.C.
EXONE CO XONE S-1 Nasdaq ExOne Company
GO PUBLIC I 10-12G Go Public I, Inc.
GO PUBLIC II INC. 10-12G Go Public II, Inc
ENZYMOTEC LTD. F-1 Gornitzky & Co.
PARKERVISION INC PRKR S-3 Nasdaq Graubard Miller
GREEN PLAINS RENEWABLE ENERGY, INC. GPRE S-3 Nasdaq Green Plains Renewable Energy, Inc.
TOMICHI CREEK OUTFITTERS S-1 Harold P. Gewerter, Esq., Ltd.
GREEN PLAINS RENEWABLE ENERGY, INC. GPRE S-3 Nasdaq Husch Blackwell LLP
IKANOS COMMUNICATIONS IKAN S-1 Nasdaq Ikanos Communications, Inc.
GRAY TELEVISION INC GTN S-3 NYSE Jones Day
POLYONE CORP POL S-4 NYSE Jones Day
HISPANICA INTERNATIONAL DELIGHTS OF AMERICA, INC. S-1 Joseph Sanchez, Esq.
JOHN HANCOCK FLOATING RATE HIGH INCOME FUND N-2 K&L Gates LLP
ILOADAPP S-1 Law Offices of Thomas C. Cook
LIST SOLUTIONS, INC. S-1 Law Offices of Thomas C. Cook
TRANSFER ENTERPRISES, INC. S-1 Law Offices of Thomas C. Cook
BORDERLESS HOLDINGS, INC. S-1 Law Offices of Thomas C. Cook
INDEPENDENT BANK CORP /MI/ IBCP S-1 Nasdaq Lewis, Rice & Fingersh, L.C.
AROTECH CORP ARTX S-3 Nasdaq Lowenstein Sandler LLP
GERMAN AMERICAN BANCORP, INC. GABC S-4 Nasdaq Mark Barnes Law PC
UNLIMITED SKY HOLDINGS, INC. S-1 Mark P. DeVincentis, Esq.
ROI ACQUISITION CORP. II S-1 Nasdaq McDermott Will & Emery LLP
ENZYMOTEC LTD. F-1 Meitar Liquornik Geva Leshem Tal
SPARTAN STORES INC SPTN S-4 Nasdaq Morgan, Lewis & Bockius LLP
RE/MAX HOLDINGS, INC. S-1 Morrison & Foerster LLP
SPARTAN STORES INC SPTN S-4 Nasdaq Nash-Finch Company
EXONE CO XONE S-1 Nasdaq Nelson Mullins Riley & Scarborough LLP
MONTAGE TECHNOLOGY GROUP LTD S-1 Nasdaq O’Melveny & Myers LLP
SHUTTERSTOCK, INC. SSTK S-1 NYSE Orrick, Herrington & Sutcliffe LLP
IKANOS COMMUNICATIONS IKAN S-1 Nasdaq Pillsbury Winthrop Shaw Pittman LLP
MONTAGE TECHNOLOGY GROUP LTD S-1 Nasdaq Pillsbury Winthrop Shaw Pittman LLP
AMERICAN REALTY CAPITAL HOSPITALITY TRUST, INC. S-11 Proskauer Rose LLP
PROSPERITY ACQUISITION, INC. 10-12G Prosperity Acquisition, Inc.
MARIKA INC. S-1 Scott D. Olson, Esq.
MUSCLEPHARM CORP MSLPD S-1 OTC Sichenzia Ross Friedman Ference LLP
THL CREDIT SECURED FLOATING RATE DEBT, LTD. N-2 Sidley Austin LLP
MASONITE INTERNATIONAL CORP 10-12B Simpson Thacher & Bartlett LLP
WALTER ENERGY, INC. WLT S-4 NYSE Simpson Thacher & Bartlett LLP
ENZYMOTEC LTD. F-1 Skadden, Arps, Slate, Meagher & Flom LLP
AMERICAN APPAREL, INC APP S-4 NYSE Skadden, Arps, Slate, Meagher & Flom LLP
PBF ENERGY INC. PBF S-1 NYSE Stroock & Stroock & Lavan LLP
INDEPENDENT BANK CORP /MI/ IBCP S-1 Nasdaq Varnum LLP
MILESTONE INTERNATIONAL, CORP. S-1 W. Scott Lawler
WALTER ENERGY, INC. WLT S-4 NYSE Walter Energy, Inc.
SPARTAN STORES INC SPTN S-4 Nasdaq Warner Norcross & Judd LLP
WEALTH ACQUISITION, INC. 10-12G Wealth Acquisition, Inc.
ROI ACQUISITION CORP. II S-1 Nasdaq Weil, Gotshal & Manges LLP
ADAMIS PHARMACEUTICALS CORP ADMP S-1 OTC Weintraub Tobin Chediak Coleman Grodin
ENZYMOTEC LTD. F-1 White & Case LLP
SHUTTERSTOCK, INC. SSTK S-1 NYSE Willkie Farr & Gallagher LLP
VANTAGESOUTH BANCSHARES, INC. CRFN S-1 NYSE Womble Carlyle Sandridge & Rice, LLP
VANTAGESOUTH BANCSHARES, INC. CRFN S-1 NYSE Wyrick Robbins Yates & Ponton LLP

Post IPO, thousands of organizations count on us to assure regulatory compliance and target new investors. Click here and opt-in to receive this weekly summary via email.

Have a great day.

Halt shmalt… here’s the real news. We just sold another IR Room to a Nasdaq issuer.

Rubbing salt in a competitor’s wound sounds like fun, but when it’s an uncomfortable issue as yesterday’s market halt is, there is no value in it. It was a problem for our clients too.

Where there is great value is in winning business fair and square… like we did again today. Our newly enhanced investor relations website – IR Room MST –  is really turning some IRO heads our way, regardless of which exchange the company is currently listed.

Switching is easy.

  1. Pull out the contract for your IR website and news distribution. If you are within a six-month renewal window, switching to IR Room MST will be very straight-forward and you can go live ASAP.  No need to wait for your contact to expire.
  2. View one of our client IR websites here. We host over 900 PR and IR websites.
  3. Download our IR Room MST brochure here.
  4. Schedule a demonstration on the form at the link above.
  5. Be prepared to be pleasantly surprised at the high-value and exclusive ROI features you get from us… including the IR App and the social media roadmap process you can read about in our white paper here.

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As explained here, now is a great time to redefine how to think about and shop for shareholder communications and compliance services.

Have a great day.

Meet active investors at our NexGen Life Sciences virtual conference

As we learned from our survey, almost 50% of your investors attend virtual investor conferences. We’re pleased to offer an easy and affordable opportunity for Life Sciences companies to meet that audience. We still have a couple time-slots open.

September 12: 9:00 am to 5:00 pm ET

Since 2010, RetailInvestorConferences.com has brought companies and investors together will mutual admiration (read testimonials here).

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John Viglotti speaks about the conference series in the one-minute video above. In addition to presenting “a la’ carte” at a particular sector event, clients have bought an entire visibility package from us.

Email John at john.viglotti@prnewswire.com to grab your spot at the Life Sciences event (as well as future months). Presenting at RetailInvestorConferences.com is VERY easy. No one has to travel.

Have a great day.

The Joy of fleX (BRL)

Smart tête-à-tête spurred from the “there is no luxury compliance” statement in the blog post The Strategic Shopping List that we suggest to public companies.

joyofflexBasically, the conversations were based on the point that “some XBRL solutions are better than others.” I asked “how are you defining better?” The replies all went down the path of “there are XBRL DIY portals instead of the expensive full-service XBRL filing.”

That’s not better. That’s different.

In this discussion, “better” is a subjective term in comparison to the objective binary point of being SEC compliant.

A DIY portal may be better for a mega-cap company with a large and XBRL experienced financial reporting department that historically have oodles of edits… but it’s probably not better for a small or micro-cap company that has limited staff and simple books. Full-service may be better for them.

This directly relates to the Strategic Shopping List (thought process) for compliance. You’re not buying better compliance. You’re buying the service that better matches your workflow. That has nothing to do with compliance. It also directly relates to how we counsel clients about our fleXBRL program: we match the XBRL filing service that fits a company’s workflow which does affect budget.

This is how we define the different workflow patterns:

XBRL Complete: Flexible XBRL tagging process between Vintage Filings and client’s on-staff financial team. Our XBRL Dedicated Accountants execute taxonomy tagging process while clients have real-time web portal / Microsoft Office oversight to review, directly edit and submit both XBRL and associated HTML EDGAR files at any time up to filing deadline.

XBRL Command: 100% self-serve web portal / Microsoft Office solution for companies with on-staff XBRL specialist(s).  XBRL and associated HTML EDGAR files can be submitted to the SEC at any time up to filing deadline.

XBRL Core: Traditional Excel-based XBRL tagging and filing solution. All tagging, timeline management and final filing executed by Vintage Filings XBRL specialists. Adherence to filing workflow timeline is essential.

What is your workflow match? Tell us here.

Have a great day.

Vintage Filings and CNW sponsor Canadian Society of Corporate Secretaries annual conference

It seems great governance in 2013 is fueled by great ocean views. Last months’ American Society of Corporate Secretaries annual conference was is Seattle and this week, hundreds of Canadian corporate secretaries have planted themselves in Halifax. We’re there too.

Judging by the very in-depth and intense agenda, I expect the sight of the ocean and the sounds crashing waves will go largely unnoticed by the attendees.  View agenda here.

NOVSCOIn addition to being the Canadian Society of Corporate Secretaries’ official newswire, we also provide their members with our regulatory and investor services: SEDAR filings, financial printing, IR websites, dealing with social media and special USA filings for the companies that are dual listed.

We’re pleased to be in attendance to support the Society’s mission and learn more about how we can improve our products to meet the ever demanding pressures public companies face.

Have a great day.

Last week’s IPOs and Transactions

There were 79 transactions filed with the SEC last week.

Congratulations to all of our corporations and law firms that selected our transactions services last week including Exeo Entertainment, Inc. w/ South Milhausen PA, Far East Energy Corp. w/ Baker & McKenzie LLP and Enerjex Resources Inc. w/ Kirkland & Ellis LLP. We appreciate that they selected to work with us and we’re pleased that they found us both accurate and affordable.

Free white paper – click image below! 

IPO_banner_blog

Registrant Symbol Form Exchange Law firm / Advisor
ALLY WHOLESALE ENTERPRISES LLC S-3 Ally Wholesale Enterprises LLC
APPLIED OPTOELECTRONICS, INC. S-1 Nasdaq Applied Optoelectronics, Inc.
HUNTER RIDGE HOLDINGS, INC. S-4 Arch Coal, Inc.
AUSCRETE CORP 10-12B Auscrete Corporation
FAR EAST ENERGY CORP FEEC S-3 OTC Baker & McKenzie LLP
PEOPLES FINANCIAL SERVICES CORP. PFIS S-4 OTC Bybel Rutledge LLP
ANGIODYNAMICS INC ANGO S-3 Nasdaq Cadwalader, Wickersham & Taft LLP
VESTA INTERNATIONAL, CORP. S-1 Cane Clark LLP
CHEGG, INC S-1 Chegg, Inc.
ZELTIQ AESTHETICS INC ZLTQ S-3 Nasdaq Cooley LLP
SYSOREX GLOBAL HOLDINGS CORP. SYRX S-1 Davidoff Hutcher & Citron, LLP
BIND THERAPEUTICS, INC S-1 Davis Polk & Wardwell LLP
CHEGG, INC S-1 Davis Polk & Wardwell LLP
OPHTHOTECH CORP. S-1 Davis Polk & Wardwell LLP
CROWN CORK & SEAL CO INC S-4 Dechert LLP
PENNANTPARK FLOATING RATE CAPITAL LTD. PFLT N-2 Nasdaq Dechert LLP
BRT REALTY TRUST BRT S-3 NYSE Dentons US LLP
LCNB CORP LCNB S-3 Nasdaq Dinsmore & Shohl LLP
PHILLIPS EDISON – ARC GROCERY CENTER REIT II, INC. S-11 DLA Piper LLP
LPATH, INC LPTND S-3 Nasdaq DLA Piper LLP
APPLIED OPTOELECTRONICS, INC. S-1 Nasdaq DLA Piper LLP
BIOTA PHARMACEUTICALS, INC. BOTA S-3 Nasdaq DLA Piper LLP
CYMABAY THERAPEUTICS, INC. 10-12G Ernst & Young LLP
FATE THERAPEUTICS INC S-1 Fate Therapeutics, Inc.
ROCKET FUEL INC. S-1 Fenwick & West LLP
CHEGG, INC S-1 Fenwick & West LLP
FIBROCELL SCIENCE, INC. FCSCD S-3 NYSE Fibrocell Science, Inc.
VISUALANT INC VSUL S-1 OTC Fifth Avenue Law Group, PLLC
XOOM CORP XOOM S-1 Nasdaq Gibson, Dunn & Crutcher LLP
BENEFITFOCUS,INC. S-1 Goodwin Procter LLP
FATE THERAPEUTICS INC S-1 Goodwin Procter LLP
XOOM CORP XOOM S-1 Nasdaq Goodwin Procter LLP
MOBIVITY HOLDINGS CORP. MFON S-1 OTC Greenberg Traurig, LLP
UPPERSOLUTION.COM S-1 Harold P. Gewerter, Esq.
QTS REALTY TRUST, INC. S-11 Hogan Lovells LLP
HYPERION THERAPEUTICS INC HPTX S-3 Nasdaq Hogan Lovells US LLP
HUNTER RIDGE HOLDINGS, INC. S-4 K&L Gates LLP
NANOANTIBIOTICS, INC. S-1 K&L Gates LLP
COMMUNITY FINANCIAL SHARES INC CFIS S-1 OTC Kilpatrick Townsend & Stockton LLP
ALLY WHOLESALE ENTERPRISES LLC S-3 Kirkland & Ellis LLP
ENERJEX RESOURCES, INC. ENRJ S-4 OTC Kirkland & Ellis LLP
BIND THERAPEUTICS, INC S-1 Latham & Watkins LLP
MINERIA Y EXPLORACIONES OLYMPIA, INC. S-1 Lawler & Associates
UNION FIRST MARKET BANKSHARES CORP UBSH S-4 Nasdaq LeClairRyan
GRAPHON CORP/DE GOJO S-1 OTC Manatt, Phelps & Phillips, LLP
ALLY WHOLESALE ENTERPRISES LLC S-3 Mayer Brown LLP
FATE THERAPEUTICS INC S-1 Morgan, Lewis & Bockius LLP
MEETME, INC. MEET S-3 NYSE Morgan, Lewis & Bockius LLP
X-TREME INVESTMENTS INC. S-1 Norman T. Reynolds Law Firm
PEOPLES FINANCIAL SERVICES CORP. PFIS S-4 OTC Penseco Financial Services Corporation
PEOPLES FINANCIAL SERVICES CORP. PFIS S-4 OTC Pepper Hamilton LLP
PETROQUEST ENERGY INC PQ S-4 OTC PetroQuest Energy, Inc.
PETROQUEST ENERGY INC PQ S-3 OTC PetroQuest Energy, Inc.
PETROQUEST ENERGY INC PQ S-4 OTC Porter Hedges LLP
PETROQUEST ENERGY INC PQ S-3 OTC Porter Hedges LLP
PHILLIPS EDISON – ARC GROCERY CENTER REIT II, INC. S-11 Proskauer Rose LLP
HOUSE OF BODS FITNESS, INC. S-1 Raul N. Rodriguez, Esq.
ENERJEX RESOURCES, INC. ENRJ S-4 OTC Reicker, Pfau, Pyle & McRoy LLP
RED METAL RESOURCES, LTD. RMES S-1 OTC Richardson & Patel, LLP
ROCKET FUEL INC. S-1 Rocket Fuel Inc.
AP PHARMA INC /DE/ APPA S-3 OTC Ropes & Gray LLP
FIBROCELL SCIENCE, INC. FCSCD S-3 NYSE Schiff Hardin LLP
ORAGENICS INC OGEN S-3 NYSE Shumaker, Loop & Kendrick, LLP
NORTH BAY RESOURCES INC NBRI S-1 OTC Sichenzia Ross Friedman Ference LLP
QTS REALTY TRUST, INC. S-11 Sidley Austin LLP
SPRINGLEAF HOLDINGS, LLC S-1 Skadden, Arps, Slate, Meagher & Flom LLP
EXEO ENTERTAINMENT, INC. S-1 South Milhausen P.A.
ACEWAY CORP. S-1 Synergen Law Group, APC
UNION FIRST MARKET BANKSHARES CORP UBSH S-4 Nasdaq Troutman Sanders LLP
TEMPRESS TECHNOLOGIES INC S-4 Vinson & Elkins L.L.P.
ABERDEEN AUSTRALIA EQUITY FUND INC IAF N-2 NYSE Willkie Farr & Gallagher LLP
OPHTHOTECH CORP. S-1 Wilmer Cutler Pickering Hale and Dorr LLP
ROCKET FUEL INC. S-1 Wilson Sonsini Goodrich & Rosati PC
APPLIED OPTOELECTRONICS, INC. S-1 Nasdaq Wilson Sonsini Goodrich & Rosati, PC
INNERWORKINGS INC INWK S-3 Nasdaq Winston & Strawn LLP
WIRELESS XCESSORIES GROUP INC WIRX 10-12G OTC Wireless Xcessories Group Inc.
BENEFITFOCUS,INC. S-1 Wyrick Robbins Yates & Ponton LLP
XOOM CORP XOOM S-1 Nasdaq Xoom Corporation
ZELTIQ AESTHETICS INC ZLTQ S-3 Nasdaq ZELTIQ Aesthetics, Inc.

Post IPO, thousands of organizations count on us to assure regulatory compliance and target new investors. Click here and opt-in to receive this weekly summary via email.

Have a great day.