“IPO Requirements Too High” says Upstate NY farmer

HUDSON NY – Sunny Hill Farm CEO Randy Tryon expressed concern at the Farmers Association meeting regarding the seemingly ‘impossible’ benchmarks set by the NYSE to meet IPO requirements. Designed to “tactically prevent honest American businesses from publicly issuing shares’ current regulations require US based companies to show $2 million in revenue with 20% yoy growth, and a board size of least 250 shareholding members. Additionally underwriting financial institutions are required to put up 40 million in collateral shares. Sunny Hill reported $3,200 in Hay sales and $350 in organic egg sales in Q3 2020, although offset by $14,350 in net operating losses. Mr. Tryon said an IPO would allow him to raise much needed capital to accelerate growth at the farm. He aims to issue 200 million shares at price of $9.50 a share. He declined to specifically say where he saw growth potential but said his first priority is to install a security camera on the donation box at the produce stand.