I plan to be debt free in a year, so I hope to be ok. Everyone all paid off and ready to roll.

Matt Liotta wrote:

I wouldn't worry about it since the way you did it put the investors at risk more so than you. There is a better way to do it and before your company gets too successful you may want to visit a lawyer and get things cleaned up.

-Matt

Brian Rohrbacher wrote:

Just typed up something on the laptop that said, "I owe you "this" much", and we both signed it. Not fancy, but a little better than an oral agreement. I won't miss a payment and will pay them back if it takes closing the WISP and working 3 jobs. Missing payments is not an option. Only if I'm laid up in the hospital. Personal guaranteed? Well, I told them I will pay it back... I know the agreement leaves a lot open, but I trust these 4 people. Anyway, so they are not investors. Lastly, lets just leave me be about this :) I'd rather not try to defend a million questions about what if this and what if that. It is what I did and it is done.

Charles Wu wrote:

that would be a loan
what type of collateral do they have? or what happens if you miss a payment?
have you personally guaranteed the money?
-Charles
-------------------------------------------
WISPNOG Park City, UT
http://www.wispnog.com <http://www.wispnog.com/>
August 15-17, 2005

    -----Original Message-----
    *From:* [EMAIL PROTECTED]
    [mailto:[EMAIL PROTECTED] *On Behalf Of *Brian Rohrbacher
    *Sent:* Monday, August 22, 2005 10:20 PM
    *To:* WISPA General List
    *Subject:* Re: [WISPA] Taking on an investor?

Well, I guess we would call them loans as I have all control. Correct me if I am wrong. They gave me money at a fixed rate. Loans or investments?

    Charles Wu wrote:

    well...in determing their "dumbness" (assuming you're willing to
    divulge this information) - what sort of investment / equity
    share / control do your investors have?
I mean...assuming it's you and the other 4, does everyone have
    an equal share? (which is a different story all together) or
    does 1 single person have a majority share and the other 4 are
    minority partners
         -Charles
-------------------------------------------
    WISPNOG Park City, UT
    http://www.wispnog.com <http://www.wispnog.com/>
    August 15-17, 2005

        -----Original Message-----
        *From:* [EMAIL PROTECTED]
        [mailto:[EMAIL PROTECTED] *On Behalf Of *Brian
        Rohrbacher
        *Sent:* Monday, August 22, 2005 8:05 PM
        *To:* WISPA General List
        *Subject:* Re: [WISPA] Taking on an investor?

        Well, I guess I found four "dumb" people that got me
        started.  All my start up funds came from 4 people.  All
        four were subs from a previous WISP I  owned,  (before my
partner took everything over and left me out in the cold) they all said, "I want you providing service, not the "other
        guy".  So here I am.  7 months in and going strong.  Oh,
        almost forgot, like my lawyer has me say......all that is
        just my opinion.  ;-)               I think "dumb" investors
        are great!
                 Charles Wu wrote:

        sure
a passive minority equity position stake in a privately
        held company is worthless, as legally, the person with the
        majority stake can make 100% of the decisions (in terms of
        purchasing, spending, cash distribution, etc)
think about it, if it was your money, would you be willing
        to just "invest it" into a company when the majority
        partner can do whatever he/she wants to and you have no
        recourse?
                 -Charles
-------------------------------------------
        WISPNOG Park City, UT
        http://www.wispnog.com <http://www.wispnog.com/>
        August 15-17, 2005

            -----Original Message-----
            *From:* [EMAIL PROTECTED]
            [mailto:[EMAIL PROTECTED] *On Behalf Of
            *Dylan Oliver
            *Sent:* Monday, August 22, 2005 4:10 PM
            *To:* WISPA General List
            *Subject:* Re: [WISPA] Taking on an investor?

            Charles,

            would you expand on that?

            On 8/22/05, *Charles Wu* <[EMAIL PROTECTED]
            <mailto:[EMAIL PROTECTED]>> wrote:

                FWIW...no invester (other than friends and family)
                worth their salt will be
                willing to invest capital into the company for a
                minority position, as that
                is basically a sure way to guarantee the loss of
                their money

                That said, there is a fool born every day

                -Charles


            --             Dylan Oliver
            Primaverity, LLC
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