New Horizon intends to price initial public sale of 1 million shares

Funds from 180-day offering to be used for general corporate purposes

By Devika Patel

Knoxville, Tenn., Feb. 14 - New Horizon Equity Group, Inc. will sell 1 million common shares in its initial public offering, according to a Form S-1 filed Friday with the Securities and Exchange Commission.

The offering will be open for 180 days.

Proceeds will be used for general corporate purposes.

New Horizon expects its shares will trade on the OTCBB, but noted in the filing that it may receive very minimal proceeds from the offering and investors may end up holding shares in a company that has not received enough proceeds from the offering to begin operations.

Through Dec. 31, New Horizon has a net loss of $5,780. The company consists of one officer and director who will devote about 10 hours per month to the company. If it sells all of the offering shares, marketing efforts will be at a maximum level and the company expects it would generate a profit in about six months.

The company is based in Sacramento, Calif., and is targeting new and struggling businesses in need of restructuring or development.

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