Hi Guys,
I Recently started a new company, and sold 50% to an Investor.
The deal for 50% of shares was
1.) An Interest free loan of up-to $100 000 to grow the business.
2.) $100 down payment.
Funds Received so Far
June - $20 000
July - $2 000
August - The withdraw $7000
So in total I only have $15 000.
This is payday company, although my profits are in arrears with slow paying clients I'm yet to make a loss. I'm still at break-even until I collect the arrears.
But they are not coming to the party with the rest of the FUNDS. So I cannot grow the business at all and can't service new clients, also I have not taken a salary and am running the business 100% by my self.
What should I do? Can I get out this deal?
I Recently started a new company, and sold 50% to an Investor.
The deal for 50% of shares was
1.) An Interest free loan of up-to $100 000 to grow the business.
2.) $100 down payment.
Funds Received so Far
June - $20 000
July - $2 000
August - The withdraw $7000
So in total I only have $15 000.
This is payday company, although my profits are in arrears with slow paying clients I'm yet to make a loss. I'm still at break-even until I collect the arrears.
But they are not coming to the party with the rest of the FUNDS. So I cannot grow the business at all and can't service new clients, also I have not taken a salary and am running the business 100% by my self.
What should I do? Can I get out this deal?
Business Disputes: New Investor Not Coming to the Party
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