As of Thursday 19 JanuaryKodak filed for bankruptcy protection Neate, and has until to reshape its business and exit out of the bankruptcy plan Business Spectator, Introduction Eastman Kodak Kodak was once a leader Finnerty, and legendary brand in the photographic film industry Associated Press, b. Recently, Kodak lost 90 percent of its market value Weiss, and is facing the threat of extinction Associated Press, b.
However, Kodak case analysis the turn of the new century, Kodak began feeling the pangs of disruption brought on by the digital era. Kodak soon descended into a mere relic of its illustrious past. Kodak seemingly met its demise when it ultimately filed for Chapter 11 bankruptcy protection in Since then, Kodak has re-emerged into the limelight from its relative state of reclusion.
Kodak now seeks to re-establish itself as a dominant force in the marketplace. Kodak is having a new moment. Kodak plans to release its KODAKOne image rights management platform, which purports to enable photographers to manage their content ownership rights and license their works via blockchain technology.
This is because according to Mr.
Marble, the Kodak ICO is being run as a private placement. While this may not in and of itself be all that novel, given the size of Kodak and the likelihood of a liquid secondary trading market developing for the Kodak coin, it begs the question — which exemption will cover the resale of these coins?
Will secondary sales of Kodak coins be exempt from SEC registration? They are obscure securities law exemptions that cover the resale of restricted securities, which most retail investors never come in contact with. It is essentially an implied exemption that the SEC has tolerated for decades.
KODAKCoin owners would then be free to resell their coins to others [assuming they are not part of a scheme to evade the securities laws] in compliance with U. Any subsequent purchaser would theoretically be able to do the same. Fixing the Obstacles in Transferring Restricted Securities In the past, the transfer of restricted securities in a private sale has been notoriously cumbersome and problematic.
First, your trades had to go through a transfer agent. As a result, usually only insiders and institutions trade in restricted stock. Individuals can instantly and directly trade cryptocurrencies, which basically eliminates all of the aforementioned problems, thereby removing these barriers to the quick development of a liquid secondary trading market.
Since Kodak coins are being issued by a seasoned issuer and former Fortune company, these securities will probably be listed on crypto exchanges in relatively short order.
Even if Kodak coins are not listed, a secondary trading market will, without a doubt, naturally develop online somewhere probably offshore. What does that restriction really mean in practical terms?
This development raises a litany of issues. While this blog post can hardly address them all, here are two that we find particularly interesting: DTCC could hold Kodak coins and deposit these securities into street name — Kodak coins would have a ticker symbol and may even trade on a recognized securities exchange.
It would be impracticable for the SEC to track down each seller that they have jurisdiction over to ensure compliance with Section 4 a 7.
While we at JPF Securities Law would love if all Kodak coin sellers called [us] their trusted securities counsel for a legal opinion prior to any resale of their coins, we know that there is little likelihood of this occurring.
Kodak and the SEC have got to be thinking the same thing.Case study A * urbanagricultureinitiative.com 3 Figure A.2 Top-level page from Kodak to Target User Population There were a number of different user groups within the target user population for the Kodak .
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Latest Breaking news and Headlines on Eastman Kodak Co. (KODK) stock from Seeking Alpha. Read the news as it happens! A Strategic Analysis A case study of how Kodak is guilty on four counts of serious corporate failure his study undertakes an analysis of five fundamental dichotomies.
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