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About Kevin Bousquet
Expertise
I am risk consultant in the field of venture capital. I can answer questions on business start up, dealing with Venture Capital Consultants and the risks involved, due diligence and the due diligence check list, corporate research, reorganizing bad debt, dealing with creditors, raising private capital, factoring and collection issues.

If you are concerned about the risks of dealing with a Venture Capital firm or a Venture Capital Broker feel free to contact me.

I have a large cleint list of Venture Capital firms who retain me to consult on assessing the risks in investing in individuals or private companies seeking capital.

Experience

Education/Credentials
Law Enf Grad (honours)1986, Law/Legal Admin 1991, Certified Fraud Examiner (CFE), English, French, Japanese. Owner Corpa Investigation www.corpa.com since 1991. Advisory Member - Canadian Venture Capital Association.

During the Internet "dot com boom" my venture capital company, "Capital Unlimited" consulted with VC firms and those seeking capital across the globe. I assisted companies (primarly new start ups) in ways to raise capital safely when the banks had turned them down.

I assisted with business plans, incorporations, press releases, financing proposals, private placement memos, invoice factoring, collection issues, trademark issues, asset Protection/restructuring & reorganization of bad debt.

During the dot.com internet boom, my Venture Capital company Capital-Unlimited and website was purchased by Andrew J. Filipowski of DivineInterventures the previous owner of Platinum Ventures.

Platinum Ventures was well documented as being famous for the purchase by Computer Associates for 3.6 Billion the largest software transaction in history at the time of the begining of the Internet dot.com boom.

My investigation company was under a consulting contract for due diligence and with the Divine Interventures team.

My 17 year old company, The Corpa Group continues to work in the field of Venture Capital. We get in the middle of business deals to ensure the deal is safe with no surprises. We use the term "investigate before you invest" which can be seen on our site and blog.

The Corpa Group continues to lessen the risk of any business transactions in the field of Venture Captial.

I do not broker capital, invest in companies, nor do I offer investment advice so please don't ask questions in this area.

You are here: Experts > Business > Small Business Information > Venture Capital & Stock > Private Equity

Topic: Venture Capital & Stock

Expert: Kevin Bousquet
Date: 4/17/2008
Subject: Private Equity

Question
I own shares in a Private Company which I believe is not providing accurate financial information to its shareholders. What are the rules regarding shareholders reviewing the corporate financials, ie, checking their books? Are they required to reveal that information to any shareholder or does their need to be a certain percentage of owners requesting that information

Thanks
Jim Thomas

Answer
Not sure if you are in Canada or the United States.

The basic rule of thumb would be subject to any shareholder agreement that you may have signed when you bought the shares (if any)with respect to the reporting of the balance sheet and income statement to the shareholders. In most cases you are to receive this disclosure when the company files its year end and completes their corporate tax return. The corporate return is normally due six months after the fiscal year end. This is how it works in Canada at least.

It would be important that these documents match what is truly being filed with the IRS or Revenue Canada.

Usually only a majority share holder/s can request an audit, other times there has to be a vote. Sometimes the articles of incorporation themselves can state who gets a vote or can call audits etc..

So you could always try and arrange a meeting and force the other shareholders to push an audit or vote for one, or maybe in this case push a forensic audit.

I would need to see how the structure of the company is laid out, you question is really more of a legal one. I hope I helped a bit.

Kevin Bousquet

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