#1
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Public company/IPO?
I read the interview in Launch but was wondering might Semroc go public at some point.
I know this is putting the cart about 10 miles in front of the horse but was just wondering. I know it takes tons of capital or you really have to leverage your equipment leases to tool up for production of parts. I only know metal fab and plastics, don't really know wood and paper but on average my CNC stations are pretty darn expensive. I think we are all using some of the same laser cutting systems (to some extent). So just sort of asking. |
#2
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*Not* so close?
Quote:
Actually, I can't (and won't pretend to) speak for Carl, but I *think* he told me one time (or else I just figured it out using my 2-year business degree) that during the first incarnation of Semroc, he had about 200 investors that he had to answer to. Man, if that was *me,* I'd find it pretty distracting. So, my guess is, "Hard to say," but Carl can elaborate further if he wants. Cheers,
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Jay Goemmer "Centuri Guy"/"Tau Zero" YORF Member 28 Semroc SAM #0029 NAR 86131 "I think about organizing things all the time. Never seems to happen. I find something that piques my interest and I'm off on a quest. Or a Centuri. " --Bill Eichelberger, 02/22/2022 “Centuri fret buzz in an updated form.” Bill “Wallyum” Eichelberger re: Estes Flutter-By 03 Sept 2014 |
#3
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Quote:
Very seriously now, I don't want to give up this dream a second time. It would be nice to be able to expand, hire people, and get more equipment, but we just have to do it at the pace our sales allow. And we don't want to grow too fast. Sheryl told me earlier today that she hoped we never got too big that we could not treat each customer as an individual. She also wanted us to be known in the future as the best model rocket company ever. She did not mention that she wanted to be the richest model rocket company. So I guess we have swapped 200 stockholders to try to appease for about 800 customers that we want to please. As they say in the ad, "All the difference in the world."
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Carl McLawhorn NAR#4717 L2 semroc.com |
#4
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Going public will leave SEMROC vulnerable to possible hostile takeover attempts somewhere
down the road. Don't do it, Carl!
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Dave, NAR # 21853 SR. |
#5
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FYI:
If you issue less than 50% of your stock and keep the rest as closely held/restricted, it won't matter if one person owns all the rest, the person(s) holding the restricted stock have majority interest. At such time that you need to raise more money, you split existing shares but still maintain majority. As well there are a whole bunch of methodologies/options with regards to voting and non-voting shares... but if no IPO, that's fine...I was just wondering. Quote:
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#6
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Quote:
I think you are on track for those accolades! Personally, I get some of the same feelings with Semroc that I got with Estes in the early years. I miss those MRNs, though! James |
#7
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Quote:
Normally I'd think it would be a heck of a lot easier keeping 200 investors happy than 1 wife, but it sounds like in Sheryl's case you caught a big break. Incorpration aside, I hope that if you ever see a financial crunch coming that threatens to take you out again, or feel too weary to maintain your standards and too poor to hire someone to help, that you at least consider accepting non-stock loans. you seem to have strong supporters lurking in here. |
#8
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Carl,
I will have to say that if I were in your position I would avoid going public AT ALL COST. It is a sure fire way to lose control of your company and a sure fire way to have Semroc turned into a company solely motivated by profit and not what hobbyists want.
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When in doubt, WHACK the GAS and DITCH the brake !!! Yes, there is such a thing as NORMAL, if you have to ask what is "NORMAL" , you probably aren't ! Failure may not be an OPTION, but it is ALWAYS a POSSIBILITY. ALL systems are GO for MAYHEM, CHAOS, and HAVOC ! |
#9
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Quote:
Exactly what I meant on my post # 4 above...
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Dave, NAR # 21853 SR. |
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