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(A) Name, legal status, address, website

(B) Names of directors, officers, and 20% stock holders

(C) Description of the business of the issuer and business plan of the issuer

(D) Prior year tax returns & financials

(E) Use of proceeds

(F) Target offering amount, deadline, and progress updates

(G) Share price and methodology for determining price

(H) Cap structure

A, B, E, F, and G are trivially generated (note that the sharks will have fronts to avoid having to put up the same names constantly). F and G are trivial to the point of boilerplating.

C and D may look like serious requirements, but if we're talking about early stage company investments here, how stringent do you think these requirements could be? What do you think the tax returns for a 1-year-old pre-VC tech company look like?

Even the full SEC disclosure policy for IPOs was insufficient to keep clowns out of the public market in '99.




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