How to add more shares of private stock?
I have recently started up my small business as an S corp. The lawyer I used gave me 10,000 shares at 10 cents a share, I own 5000. What is the process of adding more shares of stock to the company? Is it just filling out a paper and singing it? I've tried to ask my lawyer this but he avoids the question.
- Anonymous1 month ago
That's a stock split, and whoever owns the remaining 5000 units of stock will need to receive an equal amount of the newly split stock too. What's the point in doing that right now? You're a private company, and you're not selling stock through the stock exchange, you're just assigning stock based on partnership ownership levels.