Panel of Experts describes the “Road to an IPO”

This morning a panel of experts convened at the NASDAQ MarketSite to describe the measures that any company considering an IPO in the future should be taking: 1) Strengthen internal controls to be in compliance with SOX 404, 2) Develop accurate forecasting of quarterly earnings, 3) Streamline the quarterly closing process (the SEC is unforgiving to companies that cannot file their 10-k within 45 days), 4) Look to add independent board members as necessary, 5) Look to add a financial expert to the Board audit committee, 6) Look into enhanced Directors and Officers liability insurance 7) Make sure your CEO/CFO has the energy and commitment to speak to analysts and investors, on a pre-IPO and post-IPO basis, 8) Consider if this is the right time to hire a COO and full-time Investor Relations officer. Panel members included Mark Davis (Deloitte & Touche), Stephen Older (Akin, Gump, Strauss, Hauer & Feld), James Runcie (UBS Investment Bank), David Guyer (Eyetch Pharmaceuticals), Heather Sweeny (NASDAQ), and moderator Ed Paisley (The Deal). The panel discussion was sponsored by the Executive Council of New York.