SCIOTA, Pa., Oct. 9, 2012 /PRNewswire/ -- AmeriWorks Financial Services, Inc. (OTC: AWKS) announced today that it has acquired a 35% interest in SmallStock Capital, Inc. ("SSTK"). SSTK is a private investment banking company offering financial consulting services to private and public companies in all forms of corporate governance, capital structures and the development of private placements and other securities related services. In addition, SSTK is currently developing a new web site called the SmallStock Exchange where private placements under the expanded Regulation 506 rules of the new JOBS Act along with a crowd funding platform will allow small US businesses to offer their securities to the public. SSTK plans to preview the SmallStock Exchange to the public by January 15, 2013 and register with the Securities & Exchange Commission ("SEC") as a funding portal. The SmallStock Exchange will provide free membership to investors allowing members to review all security offerings posted on the exchange website and participate in any offering or crowd funding through a uniform policy to be established by SSTK, including the escrow of funds through approved escrow agents and the protection of investor participation in small offerings by the use of approved subscription agreements. Business securities offerings will be posted for an exchange fee.
"SmallStock Capital first provided financial consulting services in 1995 as an affiliate of First Summit Securities, Inc., an NASD broker/dealer," stated Louis Perosi, Jr., President of AWKS. "In addition, the concept of an Internet based URL to offer and sell private placements was first filed with the SEC by SSTK in 1996 under the proposed name the SmallStock Journal. The 1996 filing was based on the relaxed rules governing private placements under Rule 504 of the Securities Act of 1933, as amended. However, when the SEC reversed its rulings on Rule 504 in 1997, SSTK withdrew its application at that time," said Perosi. The JOBS Act provides a new window of opportunity for SSTK to use its previous experience to launch the SmallStock Exchange in compliance with all SEC regulations and certain self-regulated policies. The exchange website will also allow private companies a platform to post private stock prices for their shareholders; publish blogs, corporate information, press releases and; find links to other security professionals and on-line brokers. One of the proposed exchange polices will be an executive testing requirement for the top two executives of each business planning to use the exchange website as a source of public funding. Called the Executive Fiduciary & Responsibilities Exam, ("EFRE") the course will be a joint effort between AWKS and SSTK with the course content published on a training site presently owned by AWKS at www.pos-university.com. The course price has initially been set at $750. As crowd funding sites begin to show up in anticipation of the expected new SEC rules governing such sites, it is important to note that many businesses attempting to raise funds from the public have executives who have little or no knowledge of their responsibilities to public shareholders. The SmallStock Exchange may be the only funding platform to impose certain self-regulated policies regarding business funding and require executives to test their understanding of the transition from a private company to a quasi- public or public company and their responsibilities thereafter.
AWKS and SSTK are also developing www.StreetDocs.biz, a web site where small businesses can find forms and documents for everything from employee agreements to reverse merger documents in template form. SSTK expects more than 200 forms to be initially available at www.StreetDocs.biz and is establishing a vendor account with Pay Pal for buyers of the forms found at www.StreetDocs.biz. SSTK expects the offer of forms and documents at this website to be supplemented with other business related services after the initial launch of the site expected January 15, 2013.
For more information contact Louis Perosi, Jr., President of AmeriWorks Financial Services, Inc. at 1-888-282-2802. AWKS is traded in the OTC Markets Pink Sheets.
This press release is not an offer to sell or a solicitation to buy the shares of stock, which offer to sell or solicitation to buy can only be made through a prospectus or an offering memorandum. For more information, contact AWKS and the contact person shown above.
SOURCE AmeriWorks Financial Services, Inc.