As a rule, financing of any business is effected by the means of (1) own funds, (2) procurement of banking capital and (3) by the means of procurement of investment capital.

For the moment the financing of business by the means of a bank loan demands careful legal examination of a borrower, and our company may successfully perform it.

Within the scope of our services for the business financing our experts:

• carry out a complex or severable due diligence of the borrower’s property activity;
• prepare a report, containing the due diligence’ results, followed by a detailed description of the risks detected;
• analyze a credit agreement;
• represent the borrower at the negotiations and etc.

The most attractive source of business-projects financing is the procurement of investment capital through securities’ placement.

At the present moment the following types of securities are issued in Russia for effective capital leverage:

• debenture securities (such as bonds and bills of exchange;
• securities that provide direct or implicit interest in the capital of a company (i.e. the equity securities, such as shares — common and preferred issued by joint-stock companies exclusively, the equity options as well as the bonds convertible into the shares).

Emission of shares and bonds is conducted in several stages:

1. Preparation for the state registration of the securities’ issue includes:
   • preparation of the securities distribution decision;
   • preparation of the Decision on issue;
   • preparation of the Prospectus (Circular note) (preparation of the Prospectus is necessary in case of public offering or in case of securities distribution towards to potential purchasers, the number of which exceeds 500);
   • preparation of the decision, approving the Decision on issue and the Prospectus;
   • preparation of any other documents, necessary for the securities’ issue state registration.
2. State registration of the securities’ issue;
3. Placement of the securities (placement of the securities can be carried out through stock exchange or at the after-market, but in both cases careful adjustment with a legal expert is necessary);
4. State registration of the Report on the results of placement or submission to the registering body the Notification on the results of placement. This stage includes the following actions:
   
   • preparation of the Report on the results of placement as well as other necessary documentation and;
   • submission of the documents to the registering body.

Should the Prospectus be registered, the stages mentioned above are to be followed by information disclosure.