We were incorporated in Minnesota in December 2002 under the name Beta Medical, Inc. In 2003, we changed our name to EnteroMedics Inc. and in 2004 we reincorporated in Delaware.
A transfer agent and registrar for a publicly held company keep records of every outstanding share and the name of the person to whom it is registered. When stock changes hands, the transfer agent transfers the ownership of the stock from the seller's name to the buyer's name. The registrar reconciles all transfer records and makes sure that the number of shares debited is equal to the number of shares credited.
The transfer agent does not maintain records of shares bought and sold through brokerage accounts. Those records are maintained by the specific brokerages through which the shares are bought and sold.