How to buy and sell stock of my own Inc.

[NHS]

Hey Guys,
I have recently formed a corporation (New York). During the initial signup, I used

*Stock Information
# of Shares Type of Stock $ Value per Share
100 Par Value .01

Now I want to buy all these share myself or add more value to them or increase #of shares to about 20,000.

Can anyone be kind enough to guide me to the process of buying my own shares or how to increase their value and total amount of share available?

Thanks.

 

[tranquility]

You don't just "sign up" for a corporation, each decision made is important. The legal importance is why serious people get an attorney to help.

I'm not sure why you need more shares or what you mean by "increase their value". Par value is not really that significant any more and is not required in NY. To increase share value, make money.

In hindsight, you should have authorized more shares. Now, you may need to reorganize. See http://codes.lp.findlaw.com/nycode/BSC/5 .

 

[NHS]

Thanks for the reply. Well I am kinda dumb.

I don't even plan to sell any share to be honest. So let me rephrase my inquiry as you sound like someone with experience,

Do I have to issue share to my employees? As I am the founder, Can I hold/buy 51% share in advance?

 

[Zigner]

Thanks for the reply. Well I am kinda dumb.

I don't even plan to sell any share to be honest. So let me rephrase my inquiry as you sound like someone with experience,

Do I have to issue share to my employees? As I am the founder, Can I hold/buy 51% share in advance?

What makes you think you have to issue shares to employees? Really - it's a serious question. I am curious as to how you came to think this as a possibility.

 

[NHS]

I have heard somewhere that, if you for example hire someone such as manager, you have to issue stock? I am still going through the process of understanding my legal responsibilities .

Thanks.

 

[Antigone*]

I have heard somewhere that, if you for example hire someone such as manager, you have to issue stock? I am still going through the process of understanding my legal responsibilities .

Thanks.

I really think you need to educate yourself a bit more before venturing into the business world. Your bad decision could have serious financial implications.

 

[NHS]

That is why I decided to ask you guys who are more knowledgeable than myself.

 

[Antigone*]

That is why I decided to ask you guys who are more knowledgeable than myself.

You come to a forum to get a quick question answered. You go to school to get an education. You are in the wrong place. If you want someone to handle the legalities for you and help you make sound business decisions, you will need to pony up some bucks to pay a consultant.

 

[tranquility]

Get a book from Nolo Press or something. Since the corporation needs money to run, the amount of your investment is going to be the "cost" of the shares you take.