OTCBB Shells – The Reverse Merger Process – Part VI

Submitted By Ralph Amato

Preparation of Shell Due Diligence by Seller

After your initial review of the shell you and your SEC attorney will perform a complete due diligence review. For Ventana Capital Partners clients we use a ten page due diligence questionnaire that we have the Seller complete before we ever approach a Buyer. We do this for several reasons.

  1. If the Seller balks at completing the questionnaire he is either uncooperative or is hiding something.

  2. If Seller displays any of the above characteristics run in the opposite direction. He will never provide the information you need to close on the shell. Therefore it is better to find this out sooner than later.

  3. If there are any missing documents the Seller has time to locate them

  4. If the due diligence is properly completed you will have all documents at your disposal when the Buyers SEC counsel requests them.

  5. It will demonstrate to Buyers counsel that you are professional in your approach and respect his time.

  6. You can close on the transaction in two weeks from start to finish.


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