Form S-1 Registration Statement

The basic registration form is Form S-1. It requires companies to disclose, among other things:

• A description of the company's business;
• Its properties;
• Material transactions between the company and its officers and directors;
• Competition;
• Identification of officers and directors and their remuneration;
• Certain pending legal proceedings;
• The plan for distributing the securities; and
• The intended use of the proceeds.

It is not prepared as a fill-in-the-blank form like a tax return but is similar to a brochure, with information provided in a narrative format. There are also detailed requirements concerning financial statements, including the requirement that such statements be audited by an independent certified public accountant.

In addition to the information expressly required by the form, the company must also provide any other information necessary to make the statements complete and not misleading.