A Reno start-up that wants to develop a chain of retail flotation-tank therapy spas last week filed a registration statement to raise $20,000 through a public stock offering.
In documents filed with the Securities and Exchange Commission, Step Out Inc. says it wants to raise the money to open its first location in the Reno area.
The shares will be sold by Sterling Hamilton, a 25-year-old Reno resident who is the president, chief executive and chief financial officer of Step Out. Assuming he sells all 2 million shares set for the public offering, Hamilton will have 83.3 percent control of the company.
Hamilton has worked the past five years as a software and Web developer for several companies in northern Nevada.
The company hasn't generated any revenue since its inception in May. It's bought a flotation tank and is testing it.
The company plans to open its first retail location in Reno next summer.
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