Just to show how clueless he is -- he's looking for a "minimum" of $500K --- which will fill $467K of business and overhead costs.....
Pretty optimistic... and shows why he's broke. There's NO MARGIN in his business plan. Who could operate a business on 33 grand of capital. There's absolutely no room for any hiccups... He's going to have himself and one other guy - and "contract" employees.... and one guy on commission? Who's going to supply him with anything? Would you? If he just filed BK, and owed you a small fortune? Or would you tell him to # sand and ship the goods to a valuable reseller that actually pays their bills - and whose business just got better because there's one less competitor.
Reading his entire "prospectus" - which was NOT professionally constructed - tells it all... grasping at straws. I will say that reading the prospectus - as shoddy as it was/is - tells me he came out with NOTHING. Many guys that have personal money at least hire lawyers to construct a professional prospectus. My guess is he might still owe the lawyers... LOL
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