Going public can be a defining moment for a business.

Short-term, going public can increase business valuations substantially, often by 300% to 500% or more. This is because publicly traded companies are valued based on future earnings, provide investors with a path to liquidate their investment, provide a high level of business disclosures which make investors more comfortable, and have unique ways to prevent a total loss of business value.

Long-term, public company valuations are substantially higher because the entrepreneur can use their stock, options and warrants to complete acquisitions, attract the best talent, close more deals and raise capital more easily, which amplifies their effort, accelerates their growth and enables smart entrepreneurs to create more value.

Raise Capital

When a company has a clear path and timeline to go public it is faster, easier and less dilutive to raise capital. After a company is publicly traded, it is even faster, easier and less dilutive to raise capital from a larger audience of public debt and equity investors who have interest in wider array of investment structures.

Make Acquisitions

As a public company, it becomes easier to source acquisition opportunities and structure more favorable transaction terms. Going public to acquire private companies that are already profitable is the fastest and most reliable way to build a large and valuable business.

Align Interests

As a public company, it's easier to attract, motivate and reward people through the use of stock options and warrants. In addition to the use of stock options for employees, the use of warrants can be extremely valuable when issued as part of a business development strategy.


Any company can go public, including startups. There are no minimum revenue, asset, or profit requirements to go public in the United States. We routinely work with startups and early-stage companies with no revenue based on the strength of the entrepreneur & team.

However, our ideal partner is a smart and growth-minded entrepreneur who is past the desperation/survival mode and is ready to scale their business and valuation.

We develop the public listing strategy based on our partners’ unique facts and circumstances, bring in all third-party professionals (accounting, audit, legal, etc.), advise our partners through the process and manage everything on their behalf. We are the “CEO” of the initial public offering, direct listing or reverse merger. 

We also provide strategic advice on business growth, acquisitions, financing, corporate communications, and more. 

It’s important to have a very experienced advisor to help you navigate the steps required for a private company to become publicly traded.

For direct listings and reverse mergers, entrepreneurs can raise millions of dollars from their personal and professional networks, as well as through general advertising. 

For initial public offerings, investment bankers can raise significant capital depending on the specific business and market conditions.


We charge an advisory fee payable in cash, but we are largely motivated by equity. As a result, we only engage with companies when we believe our process and strategies will help an entrepreneur build a larger and significantly more valuable business. 

Third-party costs to complete a direct listing, reverse merger or IPO largely depend on the accounting, audit and legal expenses which varies based on many factors. 

Note that it generally costs $20,000 to start the process.

We specialize in a type of direct listing where literally any size company can list their shares in the United States by following the same process used by larger companies to complete a traditional IPO – but without an investment banker. 

There is no minimal amount of revenue or profitability required to become publicly traded. We’ve successfully taken several companies public with $0 in revenue. However, just because it’s possible doesn’t mean it makes sense.

When a company is not presently profitable, the entrepreneur needs to evaluate how they will finance operations until they become profitable. 

Companies with meaningful traction could attract an investment banker to raise capital in an IPO but all others would need to tap into their personal and professional networks before raising capital from others.

A reverse merger is when a private company goes public by merging into a company that is already publicly traded and takes over the board, management and business. 

During the process, the private company must provide the same level of business and financial transparency required in a direct listing or IPO. 

A company can go public faster by reverse merger, but these transactions come with a unique set of disadvantages.

Companies that complete an initial public offering will trade on the New York Stock Exchange or NASDAQ. 

Companies that complete a direct listing or reverse merger typically trade on the OTC QB or OTC Pink and upgrade to a senior stock exchange whenever they qualify.

We have completed research, analysis, and evaluations on a wide range of companies. 

With sufficient information about your business, we can provide a recommended valuation range for your company. However, the final valuation in a direct listing and reverse merger is determined by the entrepreneur. For initial public offerings, the investment bankers determine your valuation.

Not likely.

When investors in small public companies are upset when management teams fail to deliver the promised performance, they typically just sell their stock rather than spend the time, money and headaches required to try and remove founders or management.

Our founder, having spent his whole career active in the micro-cap market watching how companies that go public on the OTCMarkets struggle, decided there was a better way.

We now help CEOs complete initial public offerings, direct listings and reverse mergers.

"Give a man a fish and you will feed him for a day, teach a man to ARBITRAGE and you will feed him forever."

Warren Buffett

The Ultimate Value Creator


Shefford Group, LLC.

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