SEC filings....

Is anyone here really up to speed on SEC filings, can anyone boil this all down for me and explain it in 20 words or less? :)

http://www.sec.gov/cgi-bin/browse-ed...ion=getcompany SnapShot Energy LLC


I see that they make reference to their LLC incorporation several years back but I dont quite understand exactly what all of the attached HTTP and XML docs are saying...

THey were raising 1million, had about 300k to raise, then the latest filing showed 260 k to be raised, 260 k raised, 0 outstanding to be raised...

Not sure what to read into all of these docs...

If I wasn't impaired I'd look. Maybe tomorrow [emoji16]


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Usually the 10-K annual and the 10-Q Quarterly is what you are looking for, obviously the 10-Q is the most current since it is filed within a certain period after the Quarter ends.

Is that what you mean?

http://www.investopedia.com/articles.../sec-forms.asp

This is a small company with a MAJOR technology that they have licensed... I have been following them for a while, I don't think they are trying to raise venture capital OR trying to go public... I am just trying to make sense out of what these filings might mean for them and what they are trying to do...

I know a group of attorneys that used to pay themselves through their CORP as equal shareholders with dividends rather than take a salary and pay all of the withholdings through payroll...

I'm just trying to interpret what MIGHT be going on from the filings, I'm not familiar with this particular type of filing.

if they are a private corporation I don't believe they would need any sec filings, that's just for publicly traded corps or corps wishing to go public. it would make no sense to go public with all the requirements unless you are raising additional funds.

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Originally Posted by 2manymustangs

This is a small company with a MAJOR technology that they have licensed... I have been following them for a while, I don't think they are trying to raise venture capital OR trying to go public... I am just trying to make sense out of what these filings might mean for them and what they are trying to do...

I know a group of attorneys that used to pay themselves through their CORP as equal shareholders with dividends rather than take a salary and pay all of the withholdings through payroll...

I'm just trying to interpret what MIGHT be going on from the filings, I'm not familiar with this particular type of filing.

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They're probably a LLC, LLP or Sub S, all are flow throughs. No payroll taxes, in fact no tax withholding at all but quarterly ES payments.


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Quote:

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Originally Posted by sangermike

if they are a private corporation I don't believe they would need any sec filings, that's just for publicly traded corps or corps wishing to go public. it would make no sense to go public with all the requirements unless you are raising additional funds.

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OR a public/private company? can a corp (like I described my attorney friends having) have shares of ownership/dividends without having these SEC filings? where ALL shares are owned internally within their little clique... ??? :)


THis is an interesting deal, Dr. Yuanhi Zhang has a patent/lock on a thermal pressure conversion process that is about 75% efficient for turning PIG SHIaT or COW SHIaT or HUMAN SHIaT or any other carbon based material into something like heating oil or diesel fuel... OR both as I understand it, from liquid biomass feed stock... I have been waiting abut 10 years to see one of these in operation, he has been running this thing in the lab at at UofI Urbana for a long time now and has carefully licensed the technology to this group / company...

LOTS O PIG farms in Illinois... :)


http://abe.illinois.edu/faculty/Y_Zhang

Quote:

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Originally Posted by Hotboat

They're probably a LLC, LLP or Sub S, all are flow throughs. No payroll taxes, in fact no tax withholding at all but quarterly ES payments.


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They are a LLC based on the filings... so they can do the ES payments and still be private with privately held shares in the corp? I don't follow that sort of thing closely...

Quote:

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Originally Posted by 2manymustangs

They are a LLC based on the filings... so they can do the ES payments and still be private with privately held shares in the corp? I don't follow that sort of thing closely...

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Yessir


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It looks like they have sold securities/interests in the company to the public, but they are not a "public company."

https://www.sec.gov/info/smallbus/secg/formdguide.htm
https://en.wikipedia.org/wiki/Form_D

LLC can have owners, members, and managing members. Untangling these types of ownerships interests is generally not possible since they have no reason to disclose their inside operations to the public. Often times the only people who truly know the ownership interests are the owners themselves.

You might be able to find UCC Filings and recorded documents at the county recorder level in Chicago to uncover ownership interests; usually financing documents and their signature blocks will disclose the type of interests. For example, the loan might be in the name of "abc llc", and you find the companies who signed the docs are actually "def Inc." and "ghi inc" as members, or managing members (of abc llc), etc., etc.

You can throw tons of time at it....