A Reno company that seeks to smooth reciprocal play between members of golf courses worldwide plans to raise $50,000 through a public stock offering of 1 million shares at 5 cents each.
In addition, shareholders of MyOtherCountryClub.com plan to sell as many as 900,000 of their shares through the offering.
In a filing with the Securities and Exchange Commission, the company said it plans to use proceeds of the offering for Web site development, marketing and working capital.
MyOtherCountryClub.com, founded in 2009, plans to develop a Web site that will allow members of private golf courses to easily take advantage of their reciprocal-play rights at other courses.
The company was founded in mid-2009 and hasn't yet generated any revenues. As of May 1, it didn't have any agreements with golf clubs to participate in its program.
In 2009, it posted a loss of $18,299.
The company's officers and directors, including President Michael F. Smith, plan to handle the stock sale, and MyOtherCountryClub.com hasn't hired an underwriter.
The SEC hasn't yet declared the company's offering documents as effective.
