They're the Little IPOs That Could
Though the IPO window appears closed to all but a select few companies, that hasn't stopped an optimistic breed of start-ups from pinning their dreams on going public.</br></br>Their initial public offerings aren't underwritten by investment banks, they price their stock for $1 a share or less, and they are hoping to sell enough to eventually list on the OTC Bulletin Board. Although they span a wide variety of industries, from mining to technology, they have a lot in common: no revenue and, in most cases, no product or operating business.</br></br>Some own land they seek to explore or develop. Others have product prototypes they want to manufacture and distribute. All are willing to give the public markets a shot at a time when only two mature companies have gone public in the past six months.</br></br>"You put it out there, and whatever comes back, comes back. But my ideal would be to have one investor with deep pockets" buy all the shares and become a long-term partner, said Trevor Blank, chief executive of Skyhigh Resources Inc., which registered in October to raise $25,000.</br></br>The company, which incorporated nearly two years ago, has no revenue but owns a 1,200-acre property in Canada that it wants to explore for gold, silver and platinum. Its cash balance, according to its prospectus: "nil."