Can you purchase lots of half penny stocks to practice being on a board of governers?

1 Answer

Answer :

answer:If one is not hired in a senior management position to be part of the Board, something that is very rare, one must buy a controlling interest in the Company to elect oneself. In other words, one must own or control 50% + 1 share of the total float. That much stock is generally not available to be bought on the open market. And in the US, and I imagine also in Canada, one must register with the Securities Regulators to buy that big a piece. In the US, one must register with the Securities and Exchange Commission (“SEC”) if one buys 5% of the stock of a company, and must file regularly with the SEC, and cannot sell in the open market without disclosing it. Being on a Board is not a matter of “fun.” It involves people’s livelihoods, and that is not something to be toyed with.

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