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Founding Partner Marc J. Ross, Esq. Comments on the Launch of New York’s Medical Marijuana Program

Sichenzia Ross Friedman Ference founding partner Marc J. Ross, Esq. was recently asked to contribute insight for Marijuana Investor News’ article, “New York State Begins Medical Marijuana Sales.” This article discusses the limitations of our marijuana program as well as the expectations of the program in the future.
 
Please read the article here.

Partner Gregory Sichenzia Interviewed on the Drop in Reverse Mergers For the PIPEs Report and TheStreet.com

January 12, 2016 – This week, Sichenzia Ross Friedman Ference LLP Partner Gregory Sichenzia was quoted in a PIPEs Report and TheStreet.com article titled “Reverse Mergers Dwindle in Favor of Other Offerings”.  The article discussed the decline in reverse merger transactions in 2015 and the expected popularity of Regulation A+ offerings and self-underwritten offerings in 2016. Read the full article here.

Sichenzia Ross Friedman Ference LLP Attorneys Join Client Oasmia Pharmaceutical AB at NASDAQ Opening Bell Ringing

Press Release – New York, NY – January 11, 2016 – Sichenzia Ross Friedman Ference LLP partners Gregory Sichenzia, Thomas Rose, Henry Nisser and Tara Guarneri-Ferrara and counsel Peter DiChiara joined representatives of client Oasmia Pharmaceutical AB, a developer of a new generation of drugs within human and veterinary oncology, at the NASDAQ MarketSite in Times Square to ring the January 11 opening bell. continue reading >>

Sichenzia Ross Friedman Ference LLP Advises Drone Aviation Holding Corp. on Acquisition of Assets and $1.35 million PIPE Offering

June 4, 2014 – New York- based securities law firm, Sichenzia Ross Friedman Ference LLP, acted as counsel to Zenovia Digital Exchange Corp., a company that provides a Software as a Service-based technology platform for advertisers to access viewable media from publishers worldwide, in its recently completed private placement of units consisting of secured notes and warrants. The company raised an aggregate of $5.0 Million. Aegis Capital Corp. acted as the placement agent in the offering. The Sichenzia Ross Friedman Ference LLP team was led by partners Tom Rose and Marcelle Balcombe.

Media Contact
pr@srf.law
212-930-9700

Sichenzia Ross Ference LLP

Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

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Sichenzia Ross Ference LLP

IBI Times Covers Partner Marc J. Ross’ Marijuana Business Law Class

New York, NY, March 24, 2015 – The International Business Times recently published an article discussing the marijuana business law course currently taught by Marc R. Ross, Esq., founding partner of Sichenzia Ross Friedman Ference LLP, at Hofstra University School of Law. The article, titled Amid Marijuana Legalization Efforts, US Law Schools Offer Pot Courses,” discusses a recent class which “focused on dissecting the tricky legal and policy issues related to legalized cannabis,” continue reading >>

Partner Marc J. Ross Speaks at Another Accredited Marijuana Symposium on the Financial Implications to Marijuana-Related Businesses & NY’s Compassionate Care Act

Hempstead, New York – March 12, 2015 – Global Newswire – Marc J. Ross, founding partner of Sichenzia Ross Friedman Ference LLP, was a featured presenter at Hofstra University School of Law’s symposium: “Puff the Magic Medicine – The Medical Marijuana Movement. The forum, which was both CLE and CME accredited, was part of the ongoing Garfunkel Wild Thought Leadership in Action Speaker Series, and examined the existing conflict between state and federal marijuana laws, continue reading >>

Contravir Pharmaceuticals, Inc. Announces Uplisting to NASDAQ Capital Market

contravir

Sichenzia Ross Friedman Ference LLP Advises ContraVir Pharmaceuticals on NASDAQ Uplisting

New York, NY – February 27, 2015 – (Global Newswire) – Nationally recognized securities andContra Contra
corporate law firm Sichenzia Ross Friedman Ference LLP announced today that the Firm has represented ContraVir Pharmaceuticals, Inc. (NASDAQ: CTRV), a biopharmaceutical company focused on the discovery and development of antiviral therapies, in the Company’s uplisting to the NASDAQ Capital Market. continue reading >>

Partner Gregory Sichenzia Interviewed by TheStreet.com on Baidu’s Stock Growth Potential

February 23, 2015 – Financial news and services website TheStreet.com recently interviewed Sichenzia Ross Friedman Ference LLP Gregory Sichenzia on the stock growth potential for investors of Baidu, China’s largest search engine provider.

Baidu has long been touted as the “Chinese Google” and when asked to compare the two major companies, Mr. Sichenzia said:

“You can still buy Baidu relatively cheaply at a $76 billion market capital and that it is projected to experience 41 percent growth in 2015 while Google is quite expensive at $360 billion market cap with smaller growth potential for 2015,” said Gregory Sichenzia, a founding member of Sichenzia Ross Friedman Ference. “For this reason, Baidu is the better buy for stock investors, as Google, being a more mature company, is limited in upside for investors.”

Read the rest of the article here

Gregory Sichenzia, Esq.

Gregory Sichenzia, a founding member, counsels public and private companies in all securities laws matters, from complex financing transactions and listings on various stock exchanges through everyday regulatory requirements. He has also been responsible for structuring innovative merger and acquisition transactions. Throughout his career he has represented many companies and investment banks in initial public offerings of securities, and has represented numerous public companies in private equity financing transactions (“PIPEs”) and the resulting resale regist
Gregory Sichenzia, Esq.

Latest posts by Gregory Sichenzia, Esq. (see all)

    Partner Marc J. Ross Interviewed by International Business Times on Colorado’s Unique Marijuana Tax Problem

    February 10, 2015 – The International Business Times recently interviewed Marc J. Ross, founding partner of Sichenzia Ross Friedman Ference LLP, on the unique tax situation that Colorado now faces after earning more than $50 million in revenue from marijuana sales last year. Due to a 1992 constitutional amendment, the state has a limit on how much tax money the state can take in. continue reading >>

    Sichenzia Ross Friedman Ference LLP Recognized As Number One PIPE Issuer Law Firm for 2014

    Ranked Nation’s Leader in PIPEs Transactions Since 2004 – Also Recognized as Leading Investor and Placement Agent Counsel

    New York, NY – January 15, 2015 – Sichenzia Ross Friedman Ference LLP (“SRFF”) has again earned the title of the number one PIPE issuer law firm in the nation, as ranked by industry league tables: Sagient Research’s PlacementTracker and The Deal’s PrivateRaise. 2014 marked the 10th consecutive year that the firm has ranked #1 in both league tables. SRFF was also ranked a national leader in representing investors and placement agents, by volume of deals advised.

    According to PrivateRaise, SRFF represented issuers in 39 PIPE transactions totaling $253.15 million for an average of $6.49 million per transaction in 2014. Since 2004, when the firm was initially ranked as the #1 PIPE law firm in the country, SRFF has completed approximately 550 such transactions valued at more than $4.0 billion.

    Additionally, Placement Tracker recorded that SRFF advised issuers on 25 PIPE transactions amounting to $149.7 million in 2014.

    Media Contact:
    pr@srf.law
    (212)-930-9700

    Sichenzia Ross Ference LLP

    Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

    Visit SRF's LinkedIn page
    Sichenzia Ross Ference LLP

    Marc J. Ross Teaches First Law School Course on the Business and Legal Issues Related to Marijuana

    NEW YORK, New York — January 8 — Sichenzia Ross Friedman Ference LLP is pleased to announce that founding partner Marc J. Ross will be teaching the first-ever marijuana business and law course at Hofstra University’s School of Law starting in January 2015.  Mr. Ross is a leading authority involving the issues surrounding the marijuana legalization debate and the continue reading >>

    Partner Ben Tan Recognized as Finance Monthly’s 2014 Deal Maker of the Year

    Ben TanSichenzia Ross Friedman Ference LLP is pleased to announce that Partner Ben Tan has been selected as the 2014 Deal Maker of the Year for his representation of Hong Kong Takung Assets and Equity of Artworks Exchange in their  reverse merger with Cardigant Medical Inc.

    Now in its fourth year, the Finance Monthly Deal Maker Awards have quickly gained a reputation as an industry standard for recognising excellence in corporate finance transactions and acknowledge and reward the individuals and firms involved – the bankers, venture capitalists, lawyers, accountants and professional advisors who initiate, structure and negotiate deals for growing organisations.

    Visit here to learn more about the Hong Kong Takung reverse merger and to read about Mr. Tan’s award.

    Sichenzia Ross Friedman Ference LLP Announces Three New Partners for 2015

    New York, NY – (December 23, 2014) – Sichenzia Ross Friedman Ference LLP (“SRFF”), the nationally ranked leading securities and corporate law firm, is pleased to announce today that it has elected three new partners from its attorney ranks. The partnership promotions will be effective starting January 1, 2015.

    We are pleased to welcome three outstanding partner additions for the upcoming new year.” said senior partner Gregory Sichenzia, “These attorneys represent some of the best legal talent in the field of securities and corporate law. Over the years, they have consistently demonstrated legal excellence and shown themselves as experts in a specialized and complex space. We are proud to call them our partners.”

    Sichenzia Ross Friedman Ference LLP’s new partners will include:

    Daniel Scott Furst: Mr. Furst joined the Firm in March 2010. His practice Scott Furstconcentrates on generalcommercial and securities litigation; including arbitration in state and federal courts before regulatory agencies and arbitration tribunals including the Securities and Exchange Commission, Financial Regulatory Authority, and the American Arbitration Association. Mr. Furst specializes in representing public and private companies, broker-dealers, registered representatives and investors.

    Tara Guarneri-Ferrara: Ms. Guarneri-Ferrara focuses her practice in the areas of Tara Guarneri Ferrarasecurities, corporate finance law and mergers and acquisitions. Since her start at SRFF in February 2008, Ms. Guarneri-Ferrara has advised clients in connection with private placements, PIPE transactions, corporate documents and filings and M&A transactions. Ms. Ferrara was also recognized as a 2014 New York Metro Super Lawyers Rising Star.

    Stephen A. Cohen: Mr. Cohen joined SRFF in April 2006. He specializes in representing Steve Cohen issuers and underwriters in corporate finance transactions, mergers and acquisitions and securities law matters. He advises clients on public and private offerings, direct transactions as well as on the formation of private equity hedge funds. Mr. Cohen additionally advises corporations and their boards on securities law compliance, corporate governance and assists them in their periodic reporting requirements. Mr. Cohen was also named by New York Metro Super Lawyers as a 2014 Rising Star.

    About Sichenzia Ross Friedman Ference LLP
    Sichenzia Ross Friedman Ference LLP is a corporate and securities law firm that provides experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world. To learn more about SRFF, visit www.srff.com, SRFF’s LinkedIn, Twitter: @SRFFLLP and Facebook pages.

     

    Partners Gregory Sichenzia and Thomas A. Rose Admitted to Supreme Court Bar

    With Dean Supreme CourtSichenzia Ross Friedman Ference LLP Partners Gregory Sichenzia and Thomas A. Rose was admitted to the Supreme Court Bar on Tuesday, December 9, along with several other notable Benjamin N. Cardoza alumni. Admission to the United States Supreme Court is an honorable distinction for attorneys of good standing and who have been practicing for more than three years. Upon admission, Mr. Sichenzia and Mr. Rose are granted the exclusive ability to argue before the justices of the Supreme Court. Every attorney admitted to the Supreme Court must be sponsored by two attorneys who have been admitted to the Supreme Court Bar. Mr. Sichenzia and Mr. Ross are sponsored by Matthew Diller, the dean of the Benjamin N. Cardoza Law School and Michael Ference, a partner at Sichenzia Ross Friedman Ference LLP.

     

    Gallery:

    With Justice Scalia
    Partners with Justice Scalia

     

    Supreme Court

     

    Solar3D Retains Sichenzia Ross Friedman Ference As SEC Counsel

    Sichenzia Ross Friedman Ference LLP to Advise the Company on Securities Related Matters and for Potential Uplisting to a Senior Exchange

    SANTA BARBARA, CA — (Marketwired) — 12/04/14 — Solar3D, Inc.(OTCQB: SLTD), a leading solar power company and the developer of a proprietary high efficiency solar cell, today announced that it has retained Sichenzia Ross Friedman Ference LLP (www.srff.com) to represent SLTD on general securities matters and a potential uplisting to a senior exchange.

    Sichenzia Ross Friedman Ference LLP is the top ranked securities law firm as recognized by industry league tables. The firm’s services include but are not limited to providing oversight for stock exchange listing matters, initial and secondary public offerings, alternative public offerings, private investment  in public equity (PIPE) transactions, as well as mergers and acquisitions.

    In early 2014, the company acquired SUNworks, a Sacramento-area solar design and installation firm. Last month, Solar3D agreed to acquire MD Energy, a California-based solar construction firm.

    “We are thrilled to be working with Sichenzia Ross Friedman Ference,” said Jim Nelson, CEO of Solar3D. “Led by Gregory Sichenzia, this firm will act as our securities law partner and will play an important role as we continue to experience substantial growth and pursue new opportunities in the public equity space. The firm’s experience and track record as a strategic partner for growth companies seeking to achieve the next level of development will be very helpful, as Solar3D continues to pursue its aggressive plan for growth in 2015.”

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP provides experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters.

    The firm’s clients range from start-ups to established, listed companies. They include private and public corporations,
    partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. Sichenzia Ross also advises institutional investors on transactions involving complex securities law considerations.

    To learn more, visit https://srf.law.

    About Solar3D, Inc.
    Solar3D is a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell. The company’s
    SUNworks division focuses on the design, installation and management of solar power systems for commercial, agricultural and residential customers. SUNworks is one of the fastest growing solar systems providers in California and has delivered hundreds of 2.5 kilowatt to 1-megawatt commercial systems and has the capability of providing systems as large as 25 megawatts. Solar3D’s technology division is developing a patent-pending 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. The Solar3D Cell collects sunlight from a wide angle and lets light bounce around in 3-dimensional microstructures on the solar cell surface. The Company’s mission is to further the widespread adoption of solar power by deploying affordable, state-of-the-art systems and developing breakthrough new solar technologies.

    To learn more about Solar3D, visit our website at
    http://www.Solar3D.com.

    DelMar Pharmacueticals Retains Sichenzia Ross Friedman Ference as Their Designated Advisor for Disclosure on OTCQX Exchange

    DMPI-300

    Sichenzia Ross Friedman Ference LLP Serves as DelMar Pharmacueticals ‘ Designated Advisor for Disclosure on OTCQX Exchange

    PRESS RELEASE – December 2, 2014 — Global Newswire

    New York based securities and corporate law firm, Sichenzia Ross Friedman Ference LLP announced today that it has served DelMar Pharmaceuticals Inc. (OTCQX: DMPI), a clinical and commercial stage drug development company, as their Designated Advisor for Disclosure (“DAD”) on their listing on the OTCQX marketplace exchange.

    About Sichenzia Ross Friedman Ference LLP
    Sichenzia Ross Friedman Ference LLP is a corporate and securities law firm that provides experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world. To learn more about SRFF, visit www.srff.com, SRFF’s LinkedIn, Twitter: @SRFFLLP and Facebook pages.

    Blacksands Petroleum Announces Private Placement of $1.0 Million

    Sichenzia Ross Friedman Ference LLP Represents Blacksands Petroleum on a Private Placement of $1.0 Million of Series C Convertible Preferred Stock

    New York, NY – – (Global Newswire – November 3, 2014) – New York-based securities law firm Sichenzia Ross Friedman Ference LLP announced that it represented Blacksands Petroleum, Inc. (OTCQB: BSPE), an oil and gas exploration and production company, in a PIPE transaction with an accredited investor, whereby Blacksands sold 1,000,000 shares of Series C Convertible Preferred Stock, at a purchase price of $1.00 per share. The aggregate value of the offering was $1,000,000.

    The Sichenzia Ross Friedman Ference LLP team was led by Partner Marc J. Ross, Partner James M. Turner and Associate Sharon A. Carroll.

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP is a corporate and securities law firm that provides experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world. To learn more about SRFF, visit www.srff.com, SRFF’s LinkedIn, Twitter: @SRFFLLP and Facebook pages.

    HongKong Takung & Equity of Artworks Exchange Announces Reverse Merger With Cardigant Medical

    Sichenzia Ross Friedman Ference LLP Advises HongKong Takung Assets and Equity of Artworks Exchange Co. Ltd., on a Reverse Merger with Cardigant Medical Inc.

    Press Release – October 28, 2014 (Global Newswire) – New York-based securities law firm, Sichenzia Ross Friedman Ference LLP, announced that it has represented HongKong Takung Assets and Equity of Artworks Exchange Co.,Ltd. (“Takung”), a Hong Kong-based online platform for artists, art dealers and art investors to trade valuable artwork, in a reverse merger with U.S. company, Cardigant Medical, Inc. (“Cardigant”). The reverse merger was completed on October 20, 2014.

    Pursuant to the reverse merger, Cardigant l acquired all the issued and outstanding capital stock of Takung and in exchange, Takung shareholders acquired 209,976,000 restricted shares of Cardigant’s common stock. Simultaneous with the reverse merger, all the remaining assets and operations of Cardigant were spun-off.

    As a result of the reverse merger, Takung is now the sole wholly-owned operational subsidiary of Cardigant Takung management has taken over management of Cardigant.

    “The successful completion of the merger represents a major milestone for Takung, positioning the company for growth and access to the capital market,” said Benjamin Tan, Partner who led the Sichenzia Ross Friedman Ference LLP team. “It is our honor and privilege to be instrumental in the reverse merger and wish Takung all the very best.”

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP is a corporate and securities law firm that provides experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world. To learn more about SRFF, visit www.srff.com, SRFF’s LinkedIn, Twitter: @SRFFLLP and Facebook page.

    Sichenzia Ross Friedman Ference LLP Again Ranked As #1 PIPE Issuer Law Firm for 2014

    New York, NY – (October 9, 2014) – Sichenzia Ross Friedman Ference LLP led the national PIPE league tables in the first three quarters of 2014 by ranking #1 as the most active issuer counsel in the industry-standard DealFlow Report and in PlacementTracker’s PIPE Market League Tables. Since 2004, when the firm was initially ranked as the #1 PIPE U.S. law firm, Sichenzia Ross has consistently maintained its position at the top of the national rankings. Additionally, Sichenzia Ross ranked as the fourth most active investor counsel and the seventh most active placement agent counsel for the first nine months of 2014.The DealFlow Report ranking reflects the strong position that Sichenzia Ross has been able to maintain in the market over the past year. In the first three quarters of 2014, the firm has represented 33 issuers in transactions totaling over $253 million.Additionally, Sichenzia Ross was ranked 1st in 2014 for issuer counsel transactions by Placement Tracker, a project of Sagient Research. According to Sagient, in the first three quarters of 2014, Sichenzia Ross has advised issuers on 23 transactions amounting to over $141 million.


    *PIPEs Rankings are measured by the number of placements advised according to The DealFlow Report. Rankings include only PIPE transactions that have a value of at least $1.0 million. Visit the Sagient Research’s PlacementTracker’s League Tables to learn more about the PIPE Industry Tables.
    Media Contact:
    pr@srf.law


    Sichenzia Ross Ference LLP

    Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

    Visit SRF's LinkedIn page
    Sichenzia Ross Ference LLP

    Sichenzia Ross in the news: “Three things that could go wrong with Alibaba IPO” (CNBC)

    Three things that could go wrong with Alibaba IPO

     

    There are any number of reasons to find Alibaba alluring: a global footprint, scads of cash and ownership that has its eyes focused firmly on future growth. That doesn’t mean, though, that the glittery initial public offering, which prices Thursday evening, is all gold. Indeed, there are at least three potential drawbacks investors should consider before banging at the door Friday to get a piece of what very likely will be the largest IPO ever.

    1. It plays in China, but will it play in the U.S., too?

    China-based Alibaba’s sales over the past year totaled nearly $300 billion, which dwarfs U.S. competitors like Amazon and eBay. But there’s still that nagging worry over whether it will connect with U.S. consumers, who in the past have been less than willing to buy into Chinese retailers of any sort.

    “We think it’s going to be challenging for them to gain a lot of traction, at least directly, with Western and particularly U.S. consumers,” Scott Kessler, equity analyst at S&P Capital IQ, said in an interview. Indeed, there is a long and unpleasant history for Chinese companies in the West, whether it’s with consumers or investors. Publicly traded Chinese stocks gained just 7.9 percent from 1993 to 2013, a time when U.S. stocks returned 555 percent, according to calculations recently reported by The Associated Press.

    “Just because the Western world is largely untapped for (Alibaba), suddenly there seems to be this massive potential,” Kessler added. “While that may be the case in some respects, we think it’s been very difficult for Chinese companies to make major inroads with Western and specifically U.S. consumers.”

    2. And then there’s that whole China thing

    Because of a long history of financial curiosities, Chinese companies carry their own special cloak of mystery. For Alibaba, it’s a little different, but still enough to give pause. No one is challenging the company’s riveting sales or profit figures, but there is some concern about the way Alibaba is headquartered in China but incorporated in the Cayman Islands. It’s certainly not the first company to do that—China prevents foreign ownership of company assets—but there are still some unique challenges.

    For one, investors won’t own common shares, they’ll actually be buying American depositary receipts. FinancialWeb does a nice job of explaining the potential issues here:

    One of the disadvantages of investing in an ADR is a lack of information. There is not as much information available about many foreign companies as there tends to be about domestic companies. This can increase your risk as an investor.Another disadvantage of investing in an ADR is that you have to worry about political conditions in the country where the company is located. This can add another layer of risk for you to be concerned with.

    “Political conditions” in China obviously can be tenuous, but hopes are that Alibaba can overcome any China-related stigma.

    “This may signify a born-again trust in Chinese companies, at least in the big bulge-bracket scale,” said Gregory Sichenzia, an IPO and securities lawyer with Sichenzia Ross Friedman Ference in New York. “What we’re hoping to see is that Alibaba does restore some confidence in investing in Chinese companies.

    3. Of course, there’s been just a little bit of … HYPE!!!!

    Yes, if you haven’t seen the headlines, Wall Street’s a little excited over this one, and we know these things don’t always end well. They don’t always begin so well, either.

    In fact, Alibaba itself is highly conscious of the 2012 Facebook debacle, arguably the host-hyped IPO ever. The social network’s market debut was a disaster: Nasdaq failed to get trading off on time, underwriter Morgan Stanley priced the shares at the top of the expected range then had to scramble just to get the stock to break even on the opening day, and investors dumped Facebook shares for months after.

    “The price seems to be creeping up every day,” Sichenzia said. “It’s getting expensive even as we speak, before it trades, which scares me a little bit. There is a lot of hype here. There is going to be a little bit of a bubble.” Alibaba took the unconventional step of listing a big tech company on the New York Stock Exchange instead of the Nasdaq. For that reason, and the Cayman Islands issue, Alibaba will not be included in most major indexes and thus most big exchange-traded funds, potentially limiting its liquidity.

    Securities lawyer Andrew Stoltmann warned investors to consider all the potential pitfalls.”Investors should steer clear of the Alibaba IPO despite the breathtaking pitches of near-certain riches by their financial advisers and stockbrokers,” he said. “Thousands of investors have been burned and scammed by believing the hype when it comes to Chinese companies. Alibaba might be the next one to lure unsuspecting investors into large losses.”

    CNBC Interviews Sichenzia Ross Partner Gregory Sichenzia: “Alibaba won’t pull page from Facebook IPO, but is it safe?”

    forwebsite


    September 16, 2014
    : CNBC interviewed Sichenzia Ross Friedman Ference LLP’s senior partner Gregory Sichenzia regarding possible legal implications of Alibaba’s upcoming initial public offering on the New York Stock Exchange. CNBC asked how Alibaba’s corporate domicile in the Cayman Islands could potentially affect investors; to which Sichenzia answered “If things go bad, the claim is against the Cayman company,” he said. “For an investor, it could be very frustrating to enforce your rights.” Visit here to read the rest of the article.

    Sichenzia Ross Friedman Ference LLP Advises Calpian Inc. on $8.3 Million Private Placement of Common Stock and Warrants

    calpian

    May 27, 2014 (GLOBE NEWSWIRE) – New York-based securities law firm, Sichenzia Ross Friedman Ference LLP announced that it has represented Calpian Inc. (OTCQB: CLPI), a global processing and mobile payments technology company, on a private placement offering of units in the aggregate amount of $8.3 million. Each unit consisted of one share of common stock and a warrant to purchase one fifth of one share of common stock, priced at $1.00 per unit. The warrants are exercisable at $1.25 per share. National Securities acted as the lead placement agent. The Sichenzia Ross  Friedman Ference LLP team was led by partner Darrin M. Ocasio and associate Jay Yamamoto.

    Media Contact
    pr@srf.law
    212-930-9700

    Sichenzia Ross Ference LLP

    Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

    Visit SRF's LinkedIn page
    Sichenzia Ross Ference LLP

    SRFF Ranked Number One PIPE Issuer Law Firm for the Second Quarter of 2014

    New York, NY (July 17, 2014 ) – Sichenzia Ross Friedman Ference has again been ranked the number one PIPE issuer law firm in the nation for the second financial quarter of 2014 (April, May and June of 2014), as ranked by the industry-standard DEAL FLOW REPORT* . Since 2004, when the firm was initially ranked as the #1 PIPE law firm nationwide, Sichenzia Ross has completed approximately 500 such transactions valued at more than $3.0 billion, making it the #1 overall ranked firm for the period. The DEAL FLOW REPORT ranking reflects the strong position that Sichenzia Ross has been able to maintain in the market over the past sixteen years.

    * PIPEs Rankings are measured by the number of placements advised according to The PIPEs Report and Privateraise.com. The rankings include only PIPE transactions that have a value of at least $1.0 million. For more information about PIPE rankings, go to www.privateraise.com.

    Media Contact

    pr@srf.law
    212-930-9700

    Sichenzia Ross Ference LLP

    Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

    Visit SRF's LinkedIn page
    Sichenzia Ross Ference LLP

    Sichenzia Ross Friedman Ference LLP Advises Aegis Capital Corp. on $1.8 million Public Offering of CollabRX, Inc.

    collabNEW YORK, June 19, 2014 (GLOBE NEWSWIRE) — New York- based securities law firm, Sichenzia Ross Friedman Ference LLP announced that it has represented Aegis Capital Corp. as the sole underwriter in a $1.8 million public offering for CollabRX, Inc. (NASDAQ: CLRX), a provider of cloud-based expert systems designed to inform healthcare decision-making. The underwriting was pursuant to a prospectus supplement to an effective S-3 registration statement. The offering consisted of 913,500 shares of common stock valued at $2.00 per share. The Sichenzia Ross Friedman Ference LLP team was led by partners Gregory Sichenzia, Marcelle Balcombe and associate Jeff Cahlon.

    Media Contact
    pr@srf.law
    212-930-9700

    Sichenzia Ross Ference LLP

    Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

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    Sichenzia Ross Ference LLP

    Jeffrey J. Fessler named 2014 New York SmartCEO Attorney of the Year

    JFessler_LinkedInNEW YORK, June 24, 2014 (GLOBE NEWSWIRE) — New York SmartCEO Magazine, in conjunction with Citibank, has named Sichenzia Ross partner, Jeffrey J. Fessler the New York 2014 Attorney of the Year.

    The ESQ awards program was established to recognize the top attorneys who have made an outstanding impact on privately held companies. Fessler was chosen out of more than twenty finalists nominated regionally for the prestigious award. “SmartCEO’s dedication to the entrepreneurial and business community is impressive. I am grateful for their recognition and this is a great honor” Fessler said.

    According to SmartCEO, an independent committee of local business leaders selected Fessler after reviewing submissions sent in from the entire New York region. All of the award finalists were celebrated at a ceremony in June and will be profiled in the July/August issue of SmartCEO Magazine. Watch this event video to learn more about the award and Mr. Fessler.

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP is a corporate and securities law firm that provides experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world. To learn more, visit www.srff.com

    About SmartCEO

    SmartCEO is an exclusive community of CEOs and business executives, highly regarded mentors and well-respected thought leaders whose experiences benefit their organizations and the communities in which they serve. SmartCEO’s mission is to educate and inspire the business community through the pages of its award-winning magazine, connections at C-level events and access to valuable online resources. To learn more, visit www.smartceo.com

    Partners Gregory Sichenzia, Tom Rose and Associate Jay Yamamoto attend the NASDAQ Opening Bell with Fusion Telecommunications International Inc.

    NEW YORK, June 9, 2014–Senior partners Gregory Sichenzia, Tom Rose, associate Jay Yamamoto and Fusion Telecommunications International Inc. (NASDAQ: FSNN) celebrated Fusion’s inaugural trading day by ringing the Monday morning opening bell of the NASDAQ stock exchange. The NASDAQ stock market is the second largest stock exchange in the world by market capitalization. To learn more, watch the event video here

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    16th Anniversary of Sichenzia Ross Friedman Ference LLP – A History of Unwavering Excellence

    We are proud to announce that today marks the 16th anniversary of the founding of Sichenzia Ross Friedman Ference LLP. SRFF was founded in 1998, and all of its original founding partners are with the firm today. This commitment is echoed by the stability of our attorneys and our long-term relationships with our clients—some of which have been with SRFF since our inception. We are grateful for such deep-rooted client partnerships and for our enduring relationships with the New York City community and our supporters.

    Sichenzia Ross Friedman Ference LLP Again Ranked Number One PIPE Issuer Law Firm for 2014

    Firm Has Been the Nation’s Leader in PIPEs Transactions Since 2004

    Also Ranked Among the Leaders as Investor and Placement Agent Counsel

    New York, NY (April 24, 2014 ) – Sichenzia Ross Friedman Ference LLP (SRFF) has again been ranked the number one PIPE issuer law firm in the nation for YTD 2014, as ranked by the industry-standard DEAL FLOW REPORT. continue reading >>

    Sichenzia Ross Friedman Ference LLP Advises Scilex Pharmaceutical, Inc. on $5 Million Private Placement Transaction

    NEW YORK, March 20, 2014 – New York- based securities law firm, Sichenzia Ross Friedman Ference LLP, acted as counsel to Malvern Pa.-based Scilex Pharmaceuticals, Inc. a company engaged in transdermal delivery systems with its recently completed private placement of units consisting of common stock and warrants. The Company raised an aggregate of $5.0 Million. Aegis Capital Corp. acted as the placement agent the offering. The Sichenzia Ross Friedman Ference LLP team was led by Jeffrey Fessler and Marcelle Balcombe

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP are corporate and securities lawyers that provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world.

    Sichenzia Ross Friedman Ference LLP Advises Can-FiteBioPharma Ltd. on $5 Million PIPE Transaction

    NEW YORK, March 11, 2014 – New York- based securities law firm, Sichenzia Ross Friedman Ference LLP, acted as counsel to Israel based Can-Fite BioPharma Ltd. (TASE CFBI and CANF NYSE MKT) an advanced clinical stage drug development company with its recently completed private placement of American Depository Receipts (“ADR’s”) each of which consist of two Ordinary Shares. The Company raised approximately $5 Million. Roth Capital Partners acted as the placement agent the offering. The Sichenzia Ross Friedman Ference LLP team was led by Gregory Sichenzia and Gary Emmanuel.

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP are corporate and securities lawyers that provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world.

    Sichenzia Ross Friedman Ference LLP Advises Aegis Capital Corp. on $10 million Secondary Public Offering and NASDAQ Listing of SMPT, Inc.

    NEW YORK, February 5, 2014 (GLOBE NEWSWIRE) — New York- based securities law firm, Sichenzia Ross Friedman Ference LLP announced that it has represented Aegis Capital Corp. as sole underwriter in a $10.0 million secondary public offering and NASDAQ listing for SMPT, Inc.(“SMPT. NASDAQ”). The underwriting was pursuant to a to an effective S-1 registration statement. The offering consisted of 1,600,000 shares at an offering price of $.6.25 per share. The Sichenzia Ross team was led by partners Gregory Sichenzia and Marcelle Balcombe.

    Media Contact:

    pr@srf.law
    212-930-9700

    Sichenzia Ross Ference LLP

    Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

    Visit SRF's LinkedIn page
    Sichenzia Ross Ference LLP

    Sichenzia Ross advises Del Mar Asset Management Ltd. on $5 million purchase of Common Stock of Patent Properties, Inc. from Walker Digital LLC.

    NEW YORK, January 24, 2014 – New York- based securities law firm, Sichenzia Ross Friedman Ference LLP, acted as counsel to New York, New York-based Del Mar Asset Management Ltd. in the purchase of $5 million of Common Stock of Patent Properties, Inc. (PPRO. OTCQB), an intellectual property company that develops and commercializes a unique portfolio of assets, from Walker Digital LLC. Broadband Capital Management LLC., acted as the placement agent the offering. The Sichenzia Ross team was led by Gregory Sichenzia and Jay Yamamoto.

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP are corporate and securities lawyers that provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world.

    Sichenzia Ross Friedman Ference LLP Advises Fusion Telecommunications International, Inc. on $22.5 Million PIPE Transaction

    NEW YORK, January 24, 2014 – New York- based securities law firm, Sichenzia Ross Friedman Ference LLP, acted as counsel to New York, New York-based Fusion Telecommunications International, Inc., (FSNN. OTCQB) an emerging leader in cloud services in connection with its recently completed private placement of units consisting of common stock and warrants. The Company raised an aggregate of $22.5 Million,. Aegis Capital Corp. acted as the placement agent the offering. The Sichenzia Ross team was led by Gregory Sichenzia and Thomas Rose.

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP are corporate and securities lawyers that provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world.

    Sichenzia Ross Friedman Ference LLP Advises Aegis Capital Corp. on $4.0 million Secondary Public Offering of Intellicheck Mobilisa, Inc.

    NEW YORK, January 8, 2014 (GLOBE NEWSWIRE) — New York- based securities law firm, Sichenzia Ross Friedman Ference LLP announced that it has represented Aegis Capital Corp. as sole underwriter in a $4.0 million secondary public offering for Intellicheck Mobilisa (“IDN” NYSE MKT. The underwriting was pursuant to a prospectus supplement to an effective S-3 registration statement. The offering consisted of 8,947,000 shares including the underwriter’s overallotment option at an offering price of $.45 per share. The Sichenzia Ross team was led by partners Gregory Sichenzia and Marcelle Balcombe.

    Media Contact:

    pr@srf.law
    212-930-9700

    Sichenzia Ross Ference LLP

    Sichenzia Ross Ference LLP is a nationally recognized securities and corporate law firm that provides experienced representation in all matters involving the securities industry. Super Lawyers consistently recognizes our attorneys as among the highest rated securities lawyers in the nation. Our attorneys specialize in advising clients on private placements, initial (IPOs) and secondary public offerings, alternative public offerings, preparation of SEC filings and listings on major capital stock exchanges such as the NYSE (New York Stock Exchange), NASDAQ and OTC markets. In addition, our litigation and arbitration attorneys are highly skilled in representing clients from routine lawsuits to complex cases before the SEC, FINRA and other tribunals. We also represent clients in a range of residential and commercial real estate and trusts and estates matters.

    Visit SRF's LinkedIn page
    Sichenzia Ross Ference LLP

    Sichenzia Ross Friedman Ference LLP Advises Vuzix Corporation on $8.05 Million Public Offering

    NEW YORK, August 6, 2013 – New York- based securities law firm, Sichenzia Ross Friedman Ference LLP, acted as counsel to Rochester, New York-based Vuzix Corporation., a leading supplier of video eyewear products in the consumer, commercial and entertainment markets, in connection with its recently completed underwritten public offering of common stock and warrants. The Company raised an aggregate of $8.05 Million, inclusive of the over-allotment option. Aegis Capital Corp. acted as the sole underwriter in the offering. The Sichenzia Ross team was led by Gregory Sichenzia, Tara Guarneri-Ferrara and Jeff Cahlon.

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP are corporate and securities lawyers that provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world.

    Sichenzia Ross Friedman Ference LLP Advises Rightscorp Inc. on Reverse Merger and $1.0M Financing

    NEW YORK, October 30, 2013 (GLOBE NEWSWIRE) — New York- based securities law firm, Sichenzia Ross Friedman Ference LLP announced that it has represented Rightscorp Inc. (OTC QB: RIHT), a software company that monitors the global Peer-to-Peer file sharing networks for illegally downloaded digital media, in a reverse merger and $1.0 million private placement financing. continue reading >>

    Sichenzia Ross Friedman Ference LLP Welcomes Franciscus L. Diaba

    Sichenzia Ross Friedman Ference LLP is pleased to announce that Franciscus L. Diaba has joined SRFF to form and grow an Intellectual Property group within the firm.

    Mr. advises clients on all aspects of intellectual property law, including counseling, litigation, licensing, and corporate transactions. His intellectual property practice spans a variety of areas, including telecommunications, fashion, entertainment, electronics, pharmaceuticals, medical devices, semiconductors, e-commerce services, and computer software.

    Mr. Diaba has counseled clients on monetizing IP assets, IP issues during equity investments and mergers and acquisitions, and IP portfolio development. He has counseled clients on intellectual property capture, prosecution, and enforcement. He has also negotiated and drafted IP licenses, provided legal opinions to clients on freedom to operate issues, and conducted IP due diligence. Mr. Diaba has negotiated and drafted outsourcing and other commercial agreements involving brands, media, and technology.

    Mr. Diaba has been employed as an attorney with the IP law firm of Fish & Neave. He has also worked as an attorney in the IP Practice Group of Kramer Levin Naftalis & Frankel LLP, and has served as Counsel to Christian Dior S.A., where he managed the company’s intellectual property portfolio and litigation matters. Prior to becoming an attorney, Mr. Diaba had also been employed by General Motors Corporation as a Project Engineer. Mr. Diaba holds a B.S. in Mechanical Engineering from the State University of New York at Buffalo, and a Juris Doctor degree from Franklin Pierce Law Center (now the University of New Hampshire School of Law).

    Sichenzia Ross Friedman Ference LLP Advises Synergy Pharmaceuticals, Inc. on $90 Million Public Offering

    New York based securities law firm, Sichenzia Ross Friedman Ference LLP, acted as counsel to New York-based Synergy Pharmaceuticals, Inc., a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders, in connection with its recently completed underwritten public offering of common stock. The Company raised an aggregate of $90 Million, inclusive of the over-allotment option. Credit Suisse, Citigroup and Canaccord Genuityacted as the joint book running managers in the offering.

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP are corporate and securities lawyers that provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world.

    Sichenzia Ross Friedman Ference LLP Advises Synergy Pharmaceuticals, Inc. on $103 Million Public Offering.

    New York based securities law firm, Sichenzia Ross Friedman Ference LLP, acted as counsel to New York-based Synergy Pharmaceuticals, Inc., a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders, in connection with its recently completed underwritten public offering of common stock. The Company raised an aggregate of $103 Million, inclusive of the over-allotment option. Credit Suisse, Citigroup and Canaccord Genuityacted as the joint book running managers in the offering.

    About Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP are corporate and securities lawyers that provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF’s clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF’s practice includes the representation of clients located in the United States and throughout the world.

    Sichenzia Ross Friedman Ference LLP To Sponsor the 25th Annual Roth OC Conference from March 17th – 20th in Dana Point, CA

    New York, NY (March 13, 2013) – Sichenzia Ross Friedman Ference LLP (SRFF) today announced its participation as a Silver Sponsor for the 25th Annual Roth OC Conference to be held at the Ritz Carlton in Dana Point, California from March 17th – 20th. This conference is hosted by Roth Capital Partners, an investment banking firm, headquartered in Newport Beach, CA, dedicated to the small-cap public market. continue reading >>

    5 Reasons Why Equity-Based Crowdfunding Under the JOBS Act Won’t Work

    There’s so much hype surrounding crowdfunding and for good reason. Stories like the one of Ouya, a game console developer that raised $950,000 in just 8 hours on Kickstarter capture our imaginations. In 2012 alone, over 2 million people pledged approximately $319 million on Kickstarter while global crowdfunding is predicted to grow to $6 billion in 2013.

    So far so good. But existing crowdfunding models are based on donation and reward based models where backers donate money to projects with no prospect of enjoying the upside of a successfully funded crowdfunding project. That’s where equity-based crowdfunding comes in. Rather than donate money in a crowdfunded business, backers, or more precisely, investors, invest money in the business and in return receive shares or other similar equity interests in the business with the prospect of sharing in the upside. It sounds simple but raising money from investors in this way requires compliance with the securities laws which until the enactment of the JOBS Act last April were ill-equipped to accommodate this kind of money-raising.

    With the passing of the JOBS Act, equity-based crowdfunding will become legal once the SEC issues its crowdfunding rules (which we are still waiting for) to fill in the gaps left by Congress. Nevertheless, regardless of the make-up of the SEC’s rules, equity-based crowdfunding under its current formulation in the JOBS Act, is not a viable model. Here’s five reasons why:

    1. There are limits on the amounts that can be raised

    What if a crowdfunding offering were to enjoy the kind of success that Ouya experienced? After raising almost $1 million in its first 8 days, Ouya went on to raise a further $7.5 million in less than a month. Under the JOBS Act however, companies conducting equity-based crowdfunding are limited to raising just $1 million in a twelve-month period. This may sound like a lot of money to a mom and pop type business but if you are like Ouya that requires large expenditures on R&D or are otherwise capital intensive, $1 million will not go very far.

    2. How do you manage 100s or 1000s of investors?

    Crowdfunding is premised on large numbers of investors investing small amounts of money. Managing 100s or even 1000s of investors is going to present real challenges for equity-based crowdfunded companies. Corporate formalities such as holding shareholder meetings and maintaining up-to-date shareholder records have the potential to become administrative nightmares. And how does one handle the $100 investors who think that their stake in the company entitles them to weekly update calls with the CEO? Is it realistic to expect a startup to dedicate disproportionate amounts of time to investor relations when time could be better spent building the business?

    3. Costs of compliance will be disproportionately high

    Unlike donation-based crowdfunding, certain legal requirements must be met in order to comply with the rules that govern equity-based crowdfunding. The underlying rationale of the equity-based crowdfunding rules is the prevention of fraud. To that end, among other things, companies will be required to prepare disclosure documents detailing the terms of the offering, the risks involved and information about the company and management. In addition, companies will have to provide financial statements that in some cases will need to be audited. The time and cost of hiring professionals to prepare these documents is likely to be in the thousands or even tens of thousands of dollars not to mention other costs such as fees of the crowdfunding platform that will host the offering.

    4 Crowdfunding will create significant legal exposure for companies and their management

    If a company undertakes the task of drafting the disclosure documents themselves to save on costs, the likely byproduct of which is sloppy drafting, then there is an increased risk of getting sued for having misled investors. This risk is compounded threefold. First, by the JOBS Act itself that makes available an investor-friendly remedy against a company and its management for material misstatements and omissions. Second, by virtue of the fact that less sophisticated investors have less capacity to lose money and therefore a greater incentive to sue or at least threaten to sue. And third, statistically 25% of startups will fail within the first year resulting in a greater likelihood of disgruntled investors.

    5. Who will want to invest in a company that has been crowdfunded?

    Raising capital for a company is usually not a one-off event. Once the crowdfunding option has been exhausted and a company seeks traditional means of raising capital, will sophisticated investors such as VCs and angel investors really want to put their money into a crowdfunded company that is burdened with the types of problems discussed above?

    In short, donation-based crowdfunding works in part because the access created by online crowdfunding platforms such as Kickstarter to large pools of potential backers is unimpeded from both a technological and legal standpoint. However standing in between a company and large pools of potential investors in equity-based crowdfunding are burdensome regulatory requirements which while having the noble aim of protecting investors from fraud ultimately will have the effect of impeding access to capital. If Ouya were to have launched an equity-based crowdfunding money raise, its doubtful that we’d be seeing their first delivery of consoles this March.

    The information in this article is of a general nature and should not be relied upon as legal advice.

     

    Follow Gary Emmanuel on Twitter: www.twitter.com/securitiesattny

    Hurricane Sandy Update

    To all our clients and friends,

    As of this morning, November 5, 2012, many of us at Sichenzia Ross Friedman Ference LLP (“SRFF”) are returning to the office and available to resume assisting with your legal and business needs. We apologize for any inconvenience or delay in services that you may have experienced. Power was out at both our offices and our remote disaster recovery backup location. Fortunately, our systems all worked the way they were supposed to, and some of us were able to provide services throughout last week while working remotely.

    We now have our phone and backup internet access restored, but our primary internet access is still out due to a Verizon substation being out of commission. Again, we apologize if this causes any delays in communications or services to you, and assure each of you that we are working tirelessly to restore full and uninterrupted services.

    In addition, we all experienced varying degrees of outages and/or losses of property at our homes. In some cases, our homes still do not have power or heat, and our children still do not have school. Fortunately, however, all of us at SRFF are safe and sound. Of course, we are the lucky ones. We are working on a plan to assist those in the tri-state area that are far less fortunate than us, many of whom have lost their homes and are still without power, heat or water. We sincerely hope that each of you, including your families and friends, who were affected by Hurricane Sandy, are safe, sound and have sustained minimal damages.

    We wish to thank all of you who have reached out to us over the last few days to offer your support. We are deeply appreciative.

    We also look forward to speaking with each of you shortly and getting back to what we know and do best – providing our clients with a personalized focus and helping them to reach their goals in an expeditious, cost-effective and informed manner.

    Sincerely,

    Sichenzia Ross Friedman Ference LLP

    Sichenzia Ross Friedman Ference LLP Advises Aegis Capital Corp on $17.5 million Secondary Public Offering for Ampio Pharmaceuticals, Inc.

    NEW YORK, July 12, 2012 (GLOBE NEWSWIRE) — New York- based securities law firm, Sichenzia Ross Friedman Ference LLP announced that it has represented Aegis Capital Corp and Fordham Financial Management, Inc.as co- managing underwriters in a $17.5 million secondary public offering for Ampio Pharmaceuticals, Inc. (“AMPE” NASDAQ). continue reading >>