Obscene Jeans Corp is a development-stage company, incorporated in the State of Florida on September 21, 2009 (just a few months ago!). The company intends to design, develop, manufacture, wholesale, market, distribute and sell a high-end women’s collection of “Obscene Brand Jeans” including t-shirts, jackets and sweatshirts to compliment the core of their intended collection of jeans. They intend to use the latest materials and newest ideas in washes and stitching techniques. They intend to market and sell their product line primarily in the United States and Italy. They recently filed with the Securities and Exchange Commission as part of the process to complete a direct public offering (DPO). The Company intends to design, develop, manufacture, wholesale, market, sell and distribute their products by attendance at industry and trade shows and by entering into sales agency or distribution agreements with independent agents, each of whom is granted exclusive rights to market and sell “Obscene Brand Jeans” in its respective territory. They currently have no such agreements in place with commissioned sales agents and distributors in the United States and Italy.
They intend to support our independent sales agents and distributors through attendance at all of the major trade and fashion industry exhibitions, advertising in trade publications and by intending to market and sell their collection of products via their website “obscenejeans.com “. They have registered the domain name; however have not yet begun development of the website. Their intended initial strategy is to limit distribution to high-end retailers, department stores and boutiques, building a reputation for producing fresh innovative quality collection of products and with on-time delivery. They do not currently plan to launch an aggressive advertising campaign to consumers.
The company has 9,000,000 shares of common stock issued and outstanding. Through this offering they will register 3,000,000 shares of common stock for offering to the public. These shares represent additional common stock to be issued by them. They may endeavor to sell all 3,000,000 shares of common stock after this registration becomes effective. The price at which they offer these shares is fixed at $0.0175 per share for the duration of the offering. They will receive all proceeds from the sale of the common stock and intends to use the proceeds from this offering to formulate the business and marketing plan.
Prior to this, there has been no public trading market for the common Stock of Obscene Jeans Corp. The offering of the 3,000,000 shares is a “best efforts” offering, which means that their director and officers will use their best efforts to sell the common stock and there is no commitment by any person to purchase any shares. There is no minimum number of shares required to be sold to close the offering. This offering will continue for the longer of: (i) 90 days after the registration statement becomes effective with the Securities and Exchange Commission, or (ii) the date on which all 3,000,000 shares registered hereunder have been sold. Total of 3,000,000 shares = $52,500
There is no historical financial information about the company upon which to base an evaluation of their performance. They have not spent any money on operations as of February 28, 2010 and their only activity consisted of the sale of 9,000,000 shares of their common stock to their sole director and officer for aggregate proceeds of $9,000.
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A self underwritten offering is conducted by a private company and their advisers to provide shareholder liquidity, access investment capital, complete mergers and acquisitions using stock and to issue warrants to provide employees and third parties with an extra incentive. Contact Public Financial Services to learn more about the advantages, costs and timing to take your private company public!