Ariz. Admin. Code § R14-4-107 - Promoters Equity
A. An amount
equal to the following percentages of a proposed public offering shall, before
new stock is offered to the public, be paid in or contributed in cash, or other
tangibles by the organizers and promoters, except in unusual instances and the
burden shall rest on the applicant to justify its exclusion from the following
schedule:
10% of the first $200,000.00
5% of the second $200,000.00
1% of the balance
B. The value placed on any non-cash assets so
paid in or contributed must be fully substantiated.
Notes
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