Let's say that you want to raise money in a brand-new business by getting people to invest by buying shares.
You go to your friends and family and having 100 shares on sale at 1 each, some may want 1 others 2, 5, 10 etc
You end up with a list of subscribers, who agree to take up a number of shares. The number of shares each person agrees to take up is explicitly stated on the Memorandum of Association.
Have we yet reached the point where we can say we have issued the shares? Or at a point where I can say the issued capital is...?
If not, at what point exactly can I say, the issued capital is...? Thanks.