Here is where the difficulty
started. Legally, before any stocks could be sold, I needed a clearance from
The Federal Securities and Exchange Commission and from every State’s
Securities Commission which I was to sell these stocks in. In most cases I was
suppose to get legal representation from each state, which would then work up
the clearance papers from there states Securities Commission. After many trips
to Federal Securities and Exchange Commission at Denver, Colorado, I received a
tentative clearance from The Federal Government as long as I could show
clearances which I could present to them from each state. In communicating with
many northern states, I acquired a pile of complicated forms and applications
which in the most part were to be completed by attorneys and be submitted along
with the required bonds. The only state that was more lenient was The State of
Montana in which I could do the paperwork by myself. Here snowmobiles and the
Rupp line was fairly week, however I traveled to Montana to search out Rupp Dealers and Rupp
Owners. I discovered that any investors were reluctant to invest any money until
I had sold more stock. I found one investor who was interested in purchasing a
large number of shares with the idea that he would become an officer within the
corporation He even traveled to Rapid
City to look over the proposed facilities, but after
returning he had a change of heart.
This blog is all about snowmobiles from the 1960's thru the 1980's. The daily posts will feature stories, ads or press releases for a classic snowmobile during that period from various snowmobile magazines and other publications during that period in snowmobile history. Save this blog and view it on a regular basis. You never know, you may see your favorite classic sled featured here !
No comments:
Post a Comment