Frequently Asked Questions

How can First Dominion Financial, Ltd. benefit me?
Among other things, our firm helps business owners take their company public. Our integrated service approach can simplify the process and enable you to become public faster and at a reasonable cost. We help to minimize the obstacles to go public, and enable you to capitalize on the advantages that being public can offer.

Why can’t our lawyer take us public?
Many professionals recognize that they do not have an understanding of complex issues outside their discipline. Although some accountants and attorneys have played a role in helping a company become publicly traded, few have an understanding of the entire process. Since this is a complex process, we believe that it is important to hire a firm that has the knowledge, skill and experience to walk you through each step of the entire process. It would be important at this point to ask them how much they would charge for the same service we at First Dominion Financial, LTD provide.

Will there be any surprise costs?
We use a detailed contract that clarifies exactly what costs all parties are responsible for. First Dominion makes every effort to eliminate surprises relating to the total cost of becoming public.

When can I sell my shares?
Generally speaking, insiders are allowed to sell some of their shares once they have owned their shares for more than six months and their company has been a reporting issuer for more than three months.

Can you help us if we are already an SEC reporting issuer but are not currently trading?
Yes, we may be able to help you become trading. Since Jon Ruco, Ltd., our affiliate is a Registered U.S. Securities and Exchange Commission authorized EDGAR Filing Agent, we may also be able to reduce your document formatting and filing costs.

We heard that it was easier to list on the Pink Sheets, should we consider that?
We do not believe there is any value to being traded on the Pink Sheets. The Pink Sheets marketplace is not electronic, trades only by appointment and consists of hundreds of companies that have no reporting requirements. As a result, most investors will not invest in a Pink Sheet listed company and most brokers will not accept orders to buy or sell shares of a Pink Sheet stock.

If I am listed on a stock exchange outside the United States could I obtain a second listing on the NASDAQ? Are the markets linked?
Markets for the same security trading in different countries tend to trade in tandem. However, the NASDAQ market may offer your company more visibility, liquidity and a higher valuation. As a result, your domestic share price may increase in value.

Will you help us raise capital?
We are not registered broker/dealers and do not raise capital for our clients. However we do refer clients to our affiliates that may be able to aid in raising investment capital for you.

Is going public worth the expense?
The costs of going public are well worth the benefit of achieving your personal and corporate goals. Given all the advantages and disadvantages of going public, most CEO’s believe that going public was the right decision for them and for their company.

What are the benefits of listing on the NASDAQ Over-the-Counter Bulletin Board?
The NASDAQ Over-the-Counter Bulletin Board is mainly for small public companies commonly known as micro-cap issuers that wish to provide liquidity for their initial investors. It provides an outlet for these micro-cap issuers to raise seed capital through outside investors and then to provide these initial investors an outlet to sell their stock. In short, the NASDAQ Over-the-Counter Bulletin Board provides liquidity for investors, which makes it much easier for micro-cap issuers to access the capital markets or investors.

What are the initial financial requirements for listing on the NASDAQ Over-the-Counter Bulletin Board?
There are no initial assets or income requirements for listing on the NASDAQ Over-the-Counter Bulletin Board. However, the issuer must have up-to-date financial statements audited by a PCAOB member (see below). Also, the company must have a shareholder base and provide financial disclosure requirements to the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC).

Will my company be worth more as a public company?
Yes. You will have the benefit of selling stock that is liquid, making acquisitions, selling your company outright or many other benefits that strengthen your company’s value.

Can First Dominion Financial, Ltd. give legal advice?
No. Although First Dominion has lawyer associates, no one in the company will give legal advice to our clients. We are not lawyers but we will refer you to a securities attorney who will render quality service at a reasonable price.

Will I need an Audit to go public?
Yes, two years maximum.

Will First Dominion offer accounting advice?
No. We will not offer accounting advice as part of our service but will refer you to independent Public Company Accounting Oversight Board “PCAOB” member. The member is an associate of ours and is qualified to audit your company for the SEC and answer your accounting questions