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Thanks for the answer. As stated, I wish to give a bit of equity to my key people in my satellite offices (I retain 60%, give away 40%). The issuance of stock, particularly 'ghost stock' that only comes into effect with an equity event, would be desirable. I also wish to insulate the parent, so that any litigation against the satellites does not effect the parent. Revenue is $3M+ per office, so $850 ann. doesn't scare me in the least.