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We're a subcontractor source for Ford dump kits that fit 2009 F-250's. A Ford dealer in New York is submitting a bid to supply 17 dumping pick-ups to one of the county governments. The purchasing dept pulled the bid specs. from one of our competitors Ford product. They specify a 6,000lbs. capacity which is double or more the factory F250 payload. Our capacity is 3,700 which is about half ton more considering the installed weight of the kit.
We are going to argue the competitor specs. are out of line with the chassis and will void the truck warranty by default upon installation.
I'm constantly getting ideas for trucks, but I'm too busy and undercapitalized to pursue the products. If I had equity investors willing to put up the funds to patent my ideas and bring them to market it would be a load off my wallet.
I don't go to trade shows because I can't keep these kits in stock ready for sale. Everything is sold before I can even buy the steel to make them. I've got 10 weeks of work as our current backlog. Meaning, if you bought one today, it would show up 10 weeks from now.
Show trucks? Didn't you see them on our home page? There's four of them, one is a GM factory e85 show truck. First GM sponsored dumping pick-up in history. It was in the 2006 SEMA show at Las Vegas, then toured other shows.
Quote[/b] ]I'm constantly getting ideas for trucks, but I'm too busy and undercapitalized to pursue the products. If I had equity investors willing to put up the funds to patent my ideas and bring them to market it would be a load off my wallet.
Is there a way at all to raise funding from lawn care business owners possibly that are looking to invest? Or from other customers you make this product for?
Quote[/b] ]Show trucks? Didn't you see them on our home page? There's four of them, one is a GM factory e85 show truck. First GM sponsored dumping pick-up in history. It was in the 2006 SEMA show at Las Vegas, then toured other shows.
Oh yes I saw the images, great pictures! I didn't know if they were show trucks that installed your product or your trucks that you use to promote your product.
Quote[/b] ]Is there a way at all to raise funding from lawn care business owners possibly that are looking to invest? Or from other customers you make this product for?
No, that would be considered a solicitation of an unregistered security. I try to minimize my criminal activity down to going 4 miles an hour over the speed limit. I have no desire to spend even a minute in jail.
Yes, I can sell shares with some qualifications. *I own shares in an S corporation registered in Virginia. *In order to sell them I have to follow the both the Federal Securities Act of 1933 and rules in this particular state. *I have to file a prospectus containing various information including audited financial statements. *Since I've been in business over three years the statement has to be current aged no more than four months old with a current balance sheet.
The above paragraph where "I" is mentioned means both myself and/or the corporation since we are somewhat joined but separate entities. *When I sold my prior corporation, the agreement excluded shares in return for all assets and my labor. *This allowed us to side step the rules by a certain extent since the securities were not exchanged. *Essentially the old corporation was allowed to die gracefully while it's assets were disposed of at a profit.
Corporations exist to shield the people behind their creation and operations from personal liability. *They are like a new baby but with responsibilities. *By the same token, should a corporation be very successful, then it can exist for eternity even though the founders are mortal.
Getting back to selling shares, it costs the corporation time and money to go thru the paperwork process. *The lawyers and accoutants that specialize in this area are very expensive. *Secondary to that, the existing shareholders ownership and control over operations become diluted or thwarted by greedy new shareholders. *Seldom can a new corporation escape everything going into micromanage mode because second or third parties want to get involved.
I'm not ready for getting grilled by shareholders on a daily basis about the corporations past, present, and future. *Neither do I need my financial statements examined by bean counters who's sole purpose is to cut costs that affect product R & D and quality. *If I say I need to use a high grade stainless bolt, I don't want a numbers guy telling me not to buy it. *Too many cooks spoil the soup, then I get a bill for their unwelcome services.
One of my competitors was convinced to go public on a national scale about a year ago. *The sharks who did the deal approached me first. *I turned them down flat so they found him instead. *The scam is called "reverse merger" and involves a shell corporation that is regstered to sell securities, buying your corporation. *The false promise is access to investors and cash to continue or expand your business. *What happens after the deal is totally different. *These shareholders in the shell put out a bunch of PR and press releases, sell every share they can in days, then leave you to go bankrupt. *So you can check off load hog industries from my list of competition.
Very interesting stuff! Is it possible to have two classes of stock, one with greater voting power than others? So you could theoretically sell one class of stock and then still own the stock with the voting power?
I don't know how that works exactly, but if that were possible, then couldn't money be raised while you still held control of the business and if a shareholder wasn't happy, all they could do was sell their share?