Hub You - Going Public: How Long Does it Take?

We have highlighted the major time elements to provide a basic understanding of the process.

1. The financial audit:
Completing the financial audits is perhaps the most time consuming part of the IPO process. The actual timeframe will largely depend on the current state of your financial books and records. If your firm is organized, has internally generated income statements, balance sheets and statements of cash flow - with notations, you should be in pretty good shape. If your books and records are already prepared by a CPA, reviewed by an accounting firm or audited - that is best. Generally, it will take about 30 days for a start-up to be audited, while it can take 60-120+ days for a large operating business to be audited.

2. Preparation of the registration statement:
Preparing the registration statement to be filed with the SEC requires a complete review of all corporate and financial books, records and documents. The better organized companies are able to provide all of the necessary documents upon request. The review itself can take a few days to few weeks. Once complete, the registration statement can be drafted normally within two to eight weeks. Usually, the registration statement is done before the financial audits. Once the financial audits are complete, they are integrated into the registration statement and filed with the SEC.

3. The SEC review process:
Once the registration statement is filed with the Securities and Exchange Commission, the review and comment phase follows a certain path. Generally, the SEC will review the initial filings and will respond with comments in approximately 30 days. At that point, the company and its advisors are responsible for addressing each of the comments. This could take several hours to several days, depending on the nature of the comments. Once the response is completed, a revised registration statement is filed with the SEC. The review and comment process continues until the SEC is satisfied. This normally takes between 60 days and 120 days, but could last materially longer - depending on the company and its advisors.

2. Preparation of the registration statement:
Preparing the registration statement to be filed with the SEC requires a complete review of all corporate and financial books, records and documents. The better organized companies are able to provide all of the necessary documents upon request. The review itself can take a few days to few weeks. Once complete, the registration statement can be drafted normally within two to eight weeks. Usually, the registration statement is done before the financial audits. Once the financial audits are complete, they are integrated into the registration statement and filed with the SEC.

3. The SEC review process:
Once the registration statement is filed with the Securities and Exchange Commission, the review and comment phase follows a certain path. Generally, the SEC will review the initial filings and will respond with comments in approximately 30 days. At that point, the company and its advisors are responsible for addressing each of the comments. This could take several hours to several days, depending on the nature of the comments. Once the response is completed, a revised registration statement is filed with the SEC. The review and comment process continues until the SEC is satisfied. This normally takes between 60 days and 120 days, but could last materially longer - depending on the company and its advisors. Is Your Corporate Wellness Program Floundering?
Is Your Corporate Wellness Program Floundering?Companies are instituting corporate wellness programs, often with mixed results. The idea behind a corporate wellness program is actually quite solid: these programs are opportunities for employees to get the help they need to prevent illness.The general idea of a corporate wellness program is that since as many as 80% of illnesses can be avoided with some preventative care, mobe audited, while it can take 60-120+ days for a large operating business to be audited.

2. Preparation of the registration statement:
Preparing the registration statement to be filed with the SEC requires a complete review of all corporate and financial books, records and documents. The better organized companies are able to provide all of the necessary documents upon request. The review itself can take a few days to few weeks. Once complete, the registration statement can be drafted normally within two to eight weeks. Usually, the registration statement is done before the financial audits. Once the financial audits are complete, they are integrated into the registration statement and filed with the SEC.

3. The SEC review process:
Once the registration statement is filed with the Securities and Exchange Commission, the review and comment phase follows a certain path. Generally, the SEC will review the initial filings and will respond with comments in approximately 30 days. At that point, the company and its advisors are responsible for addressing each of the comments. This could take several hours to several days, depending on the nature of the comments. Once the response is completed, a revised registration statement is filed with the SEC. The review and comment process continues until the SEC is satisfied. This normally takes between 60 days and 120 days, but could last materially longer - depending on the company and its advisors. Calculating the Human Costs of Downsizing
Downsizing is never an easy decision. There is an inherent conflict between protecting the company’s interests and that of employees. This balancing act can be a real dilemma for an organization as it tries to insure its long-term survival, and its desire to protect the welfare of its employees.Handled improperly, a company downsizing can damage the public standing of both the organization and its management. People have long memorafted normally within two to eight weeks. Usually, the registration statement is done before the financial audits. Once the financial audits are complete, they are integrated into the registration statement and filed with the SEC.

3. The SEC review process:
Once the registration statement is filed with the Securities and Exchange Commission, the review and comment phase follows a certain path. Generally, the SEC will review the initial filings and will respond with comments in approximately 30 days. At that point, the company and its advisors are responsible for addressing each of the comments. This could take several hours to several days, depending on the nature of the comments. Once the response is completed, a revised registration statement is filed with the SEC. The review and comment process continues until the SEC is satisfied. This normally takes between 60 days and 120 days, but could last materially longer - depending on the company and its advisors. Conference Call Etiquette For A Business Meeting
Here, I will share my experience with you on the decorum required. I learnt what not to do from my first conference call and what to do from the second.My first experience with a conference call was on sales strategy with corporate office. I logged into the conference bridge as per the agreed schedule, but soon realized that most of the other attendees were late. Some people I could not identify were talking, adding to the noise ipproximately 30 days. At that point, the company and its advisors are responsible for addressing each of the comments. This could take several hours to several days, depending on the nature of the comments. Once the response is completed, a revised registration statement is filed with the SEC. The review and comment process continues until the SEC is satisfied. This normally takes between 60 days and 120 days, but could last materially longer - depending on the company and its advisors.

3. The stock exchange review process:
Each of the stock exchanges have a different review process. Generally, there are no stock exchange concerns if you satisfy all of the SEC requirements. However, the stock exchanges will look at different factors, including the number of shareholders, amount of capital invested and the relationship between and among all shareholders. One of their primary issues is to ensure that no individual or group controls the 'public-float'. The review and comment process with the stock exchange is similar to that of the SEC. It can last between two weeks and three months, depending on the company and its advisors.

If handled properly, it should take an average company between six and nine months to go public via an initial public offering (IPO) or direct public offering (DPO) - if it is coordinated and managed properly.

It is very important to hire knowledgeable, experienced and qualified professional advisors to keep each of the parties involved in a going-public transaction on track and on budget.

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