Business Services Industry
St. Paul, Minn.-Based Ruminator Books Hopes to Sell $1 Million Worth of Stock.
Knight Ridder/Tribune Business News, October, 2003
By Tim Huber, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Oct. 30--Ruminator Books is banking on a long-shot: selling its own stock to customers loyal enough to buy an investment that isn't likely to produce a profit.
St. Paul-based Ruminator hopes to sell up to $1 million worth of its self-issued stock to stave off a dire financial situation. The offering is made possible by a little-used tool called the Small Corporate Offering Registration or SCOR that allows small companies to raise money without the complications of full-fledged securities offerings.
What investors need to know is that unlike 3M or other public companies, Ruminator's stock won't be listed on an exchange, so there will be no ready market...
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