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Electronic Stock for Private Companies: The Step-by-Step Implementation Guide Congratulations on deciding to move over to electronic stock! You should be able to significantly decrease your equity-administration costs and increase your level of service to your shareholder. While this guide will provide you with all of the information you need to migrate to electronic shares by yourself, feel free to visit Capshare if you want us to do all of the work for you. We can migrate you to a completely electronic stock solution for as little as $100. We will offload all of the work described below for you. A Few Important Disclaimers Before we dive in, it turns out that there are significantly different considerations for companies who are just starting from scratch or companies that have already issued paper stock certificates. So we will direct some of our comments to those companies migrating from paper at the end of each section. Feel free to ignore those comments if they don't apply to your company. Please note that this guide is US-centric. We hope to broaden it to include more information for other countries, so check back frequently. In the meantime for those outside of the US, you can take comfort in the fact that most non-US countries we have researched have laws that are even more friendly to electronic stock than the US. We have performed research on all 50 states and their laws regarding using uncertificated shares. Some of the most important states for incorporation, like Delaware, have made significant changes to their laws to make issuing uncertificated shares even easier. While we will continue to refine this document to add more and more state-level detail, this guide is set up to work for any US-based company regardless of the state in which it is domiciled. This may mean that you take a few minor additional steps that may not be strictly

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