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FOLSOM POINT CHANGES LEGAL STRUCTURE FROM S CORP TO LLC Change Marks Growth and Increased Flexibility for Clientele
January 1, 2007
(Boulder, CO) - Folsom Point, Inc. announced today an official change to the legal structure of the business from an S Corporation to a Limited Liability Company (LLC). The change in legal form supports the company's effort to provide even better service and more expansive skills to a wide range of international customers.
The decision was made at a Folsom Point, Inc. board meeting which took place on October 1, 2006. The majority stockholders voted unanimously to change the legal form of the company and adopt a revised business name.
As of January 1, 2007, the company name will change from Folsom Point, Inc. to Folsom Point, LLC. All other facets of the business including products, services, location and ownership, will remain the same. Additionally, the company will continue to be woman- and minority-owned with Dominica (Nicky) Lee elected as Managing Partner of Folsom Point, LLC.
"Last year marked another milestone for Folsom Point as we completed our 6th year in business," said Nicky Lee, CEO of Folsom Point, Inc. and now Managing Partner of Folsom Point, LLC. "In evaluating our past successes and plans for the future, it was important to adapt the legal form to the circumstances and dimension of the company. We believe this will enable even more flexibility as we continue to grow."
The company will begin the transition process immediately. This will include updating the 8(a) BD, Small Disadvantaged Business (SDB) and Disadvantaged Business Enterprise (DBE) minority-owned business certifications with the U.S. Small Business Administration and Colorado Department of Transportation (CDOT).
Revised business information for the company is provided below:
Folsom Point, LLC About Folsom Point
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