Archive for September 16th, 2005
So, I’ve done some checking concerning selling shares of the company at this stage. I got good news and bad news… Well that’s not entirely true… I got bad news.
At this stage since my business license has not been transfered from Sole Proprietorship to Corporation; we can’t sell shares.
I am given the impression, we can take loans from people, that would be payed back in either cash, IOU, or some agreement to get a piece of the company at some point in the future.
So, basically, it looks like all we can do is ask for loans for people, track how much they’ve loaned us, find out how long they are willing to hold for either cash or equal to cash payback, and then hope.
Really a kinda sticky wicket
So, round 1 of the entrepreneurial game didn’t go quite as well as planned. But even if I wind up pulling down only enough to survive and pay bills until I go back to full time work, this isn’t stopping our work or research on this project.
I guess the good news, is it gave us a fairly swift kick in the pants. (I just wish it’d come about 2 months earlier)
I’ve already discussed the project with about 4 people, 2 seem interested in possibly putting in money. I have about 3 more people asking. everyone for the most part has gotten excited when I’ve lifted the cover off the project.