Appearing for first time four months after terrorist attacks of 9/11, Web site of McWhortle Enterprises' publicized launch of Bio-Hazard Alert Detector. Detector, which is small enough to slip into a man's jacket pocket, a woman's purse or child's backpack, was first product offered by company to the general public. Based upon McWortle's experience of providing defense systems to far-flung executives of Fortune 500 companies, Detector works by sensing microscopic levels of hazardous bioorganisms and deadly virus organisms. Owners of a Detector can have considerable peace of mind, safe in knowledge that it emits an audible beep and flashes when in presence of all known biohazards. huge potential market for Detector and McWhortle's previous success-as evidenced on its Web site by customer testimonials and an audio interview with its president Thomas J. McWhortle III-led company to announce an initial public offering (IPO) in a press release of January 25, 2002.2 While McWhortle's stated intention was to file its Registration Statement with U.S. Securities and Exchange Commission (SEC) five days later in order to enact IPO, press release also stressed that The SEC has advised us that they have 'pre-approved' our IPO because nation needs a product like this on market as quickly as possible to protect Americans from terrorism. Those who responded to press release by trying to in McWhortle through invest now section of its Web site were told that IPO was presubscribed but that stage 2 bidding was still available. However, those who passed through portal and attempted to participate in stage 2 bidding
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Paul Langley (2007) studied this question.