Rebirth 79: I opened a bank in the United States

Chapter 298 Change of Company Nature
The current HT executive vice president responsible for managing the supply side, that is, also in charge of the factory production, was transferred to the factory as the general manager, and then the director of the supply relationship department who was originally responsible for procurement, overall planning, and scheduling was moved to Dongfeng Express; the former Dongfeng Express The general manager of express delivery has abdicated as the vice president of administration, and the business part is under the leadership of the new general manager.

For a company like ht that has just started and is growing rapidly, the location is still easy to find.The overall transfer, although the transfer letter has not yet been issued, but in the words of Jinas, they should not have much opinion.

After all, Dongfeng Express and food companies are basically based on HT. HT's business growth is accelerating, and the prospects of the two companies are not too bad. At this time, they are transferred to be the top leaders.It's almost like going for gold plating.
Even if there is no stock incentive, as long as the thinking does not slip.Taking advantage of the general trend of HT's take-off for several years, the work resume of the general manager of a medium-sized enterprise is always indispensable.At that time, whether it is job-hopping, if the salary is raised, it will be almost at your fingertips.

Such an adjustment also weakened Jinas's influence within HT.Although he didn't cut much, and Carter didn't substantially weaken the other party's right to speak, his attitude did have to be made clear in advance.

This is also the purpose of Jinas's reminder just now.
"Anna's current ability, do you think it is enough to be promoted to director?"

"Enough, if there is any problem, I will help her look at it"

Needless to say, as the person who reminded Carter, Jinas nodded almost without thinking when he heard this question.

Anna, as Carter's almost only direct descendant in the ht company, let alone made progress recently, even if she made no achievements.It's up to her
Talking about this is not certain, as if the vice president position that Carter forgot is for whom
Both sides know it well!

It is far better to be a villain first and then a gentleman than to be suspicious without reason.Jinas does not object to Carter's placing a direct descendant in the company, it's just a simple balance, after all, the company is still his company, isn't it?
"I have entrusted Kravis Law Firm with the restructuring of the company, and they will send someone over to assist us in completing the change in the nature of the company."

After discussing the personnel arrangement and making a little plan for Anna's career, Carter started to advance the next topic: the change of the company's nature!

And this matter is the real purpose of Carter's coming here.

There are several types of companies in the United States, such as llc, llp, inc, etc., which sound like a mess.But in fact, after sorting out the logic map one by one, it is actually not that complicated.

Generally speaking, the full name of HT Company should be Havana Tacos LLC. This LLC refers to Limited Liability Company, which is a limited liability company.

Strictly speaking, the equity owners of this kind of company cannot be called shareholders, but can only be called members!Because it does not have a registered share capital, naturally it cannot be said to have the ability to issue shares.

Similarly, another disadvantage of LLC is that the members are responsible for the company's debts.It's not like I imagined, the company went bankrupt, I filed for bankruptcy directly, and then the boss was fine.The debt owed by the company, the boss has to pay for it personally!

There are disadvantages, and naturally there are advantages. The biggest advantage of LLC is in tax consolidation.Because the company's profit and loss are deeply tied to the boss, or the members themselves.If the company makes money, it basically means that the boss has made money. If the company loses money, the bosses have to pay to fill the hole.

Therefore, for llc, its tax declaration can directly go to personal income tax, and corporate income tax can be exempted.And INC, which is called Incorporation, is different!

The company is separated from the shareholders, and everyone is an independent entity.After the corporate income tax is paid, if there is a dividend, that is, the shareholders want to make money from the shares they hold, then I am sorry, and then pay the personal capital gains tax!

Double taxation is fine, there are some harsh places, and there is a third personal income tax
After these incomes increase, the personal income will increase, and it is extremely easy to push up the personal tax payable when calculating taxes, and continue to pay a higher tax.
Therefore, if you want to register an inc, you must do a very adequate tax planning in the early stage.Including but not limited to hiring more professional tax accountants and lawyers to set up a framework, and then pay attention to the channels of money flow all the time during the business process.Tax and legal costs have risen significantly.

Hearing this complicated introduction, Carter, who was a small family back then and found it bothersome, immediately chose to register as an llc.But now that there is a plan for financing and listing, the nature of the company has to be changed from a limited liability company to a joint stock company.

"The underwriter, do you have any goals?"

Guinas is no stranger to things that even Carter, a rookie, understands.If Carter doesn't come again, he himself will fly to Georgia to talk to Carter about this issue.

"It's not urgent. The valuation they are giving is too low now, which is not very cost-effective. First adjust the overall structure, and then after the share capital registration is clear, let's talk about it. I plan to register 40 shares first, and calculate the pre-transaction valuation. Currently the actual The assets are 1600 million, and the average share is 40 US dollars. When the time comes, you can get the agreement and replace it in parallel when registering the share capital.”

Carter touched his chin, thinking about how many shares should be registered for the first registered share capital.Since it is rushing to go public, it is necessary to consider a transaction cost issue.

The higher the individual share value, the lower the stock's trading volume.The transaction threshold is high, and most people can't afford it.
According to the rules and practices of US stock brokers, the minimum trading unit is an integer multiple of 100 shares.Even for 100 shares, a simple transaction requires an investment of 4000 US dollars, which is not a small number.And more importantly, this is still a pre-transaction valuation with no water injection. No, this is not a valuation anymore, but the actual value!
If you use the pre-transaction valuation algorithm to temporarily divest Jim's 460 million investment and count it as an angel investment.Then assume that HT with an actual asset value of 1200 million US dollars registers 30 shares.

那么2%的股份，就是6000股。6000股卖了460万，平均单股价值就高达766.6美元，反推后的目前估值是2个亿。

Under this theoretical model, Carter, who holds 96% of the shares, or 28 shares, has a personal worth of 8 million.But this number is simply meaningless now.Because of this value, it has not been recognized by the public, let alone the public. At present, even the capital market does not accept such a high valuation.

In this case, talking about social status is playing hooliganism.
Generally speaking, if the number of registered share capital is small, the value of a single share in the future will inevitably remain high, which is not conducive to the circulation of stocks in the secondary market.Although there are a series of operations such as additional stock issuance and share splits that can avoid this problem, if the foundation can be laid in the initial stage, it will undoubtedly be much more convenient in the future.

At least you don't need to modify it back and forth, which will increase the cost for no reason.
(End of this chapter)