investor update: A short update on the situation with ITL. Apparently ITL has stopped funding all of their startup investments, speculation is that ITL's damaged reputation has prevented them from being able to raise any capital at all.
Follow along with an internet start-up firm.
investor update: A short update on the situation with ITL. Apparently ITL has stopped funding all of their startup investments, speculation is that ITL's damaged reputation has prevented them from being able to raise any capital at all.
time is money: still waiting for word on the bank loan, but it looks like friends and family may have come through to buy us another week. I know this site is a little thin on details, but that is changing today as we put a web summary online.
dotpublishing - looking forward: We had a meeting at BOI today and discussed the revisions to our plan some. We have a good, solid plan in place that lets us bring our first person interactive system online in just under a year for just about 18 million dollars. While this is more money than some of our recent plans we continue to agree with our advisors that we need to cut our time to market and that costs more money.
Currently, our immediate concern is a $20,000 operating cost we have for the next 6 weeks. We have a number of sources to secure a $60,000 bridge in that time that will carry us through the process of securing primary capital.
So, where do you find $20,000 when you're investor packs it in suddenly? Friends and Family are pretty much tapped out... and SBA loans take 90-120 days to come through. Some of the founders spent today filling out loan forms at their banks hoping we can just put the money in ourselves.
During the next 3 weeks we will be finishing up our demonstration/trailer CD-ROM for potential investors, and it is looking exceptionally impressive so we are looking forward to having a chance to show it off. Some of it will be available on the company website and linked here.
dotpublishing - a big hello world: We picked up some publicity yestarday that helped us a bit, and we appreciate everyone who took the time to give us feedback. We seem to have a some confusion about what it is dotPublishing actually does ... an inevitable one since we do not have full information currently available. Here is a response to some of that confustion on one of the forums discussing us. Please take a second to read it. Thank you and check back soon for more information.
"Actually, your looking at some of the sites we
are involved in currently, and I do understand how it can
be confusing, but I want to be very clear on this.... None of the projects we have planned currently will feature adult content. In fact, the current project is science fiction based :) We do currently have a few adult sites in our portfilio - and the two of the girls on our team run a "lifecam" webcam site (no sex involved, though they do some nudity), but that is more of an artifact of our past - not a vision for the future. This company "grew up" in the adult website biz, it's where we got our start in design, and that is the place I learned the most about programming software to run extremely high traffic sites. Also, we learned a lot about how to make money on the web there (content). In a world where amazon is losing buckets of cash I know adult sites netting more than $ 1/4 million a day. So, our company does have a past that wends through the more steamy side of the net, that is not our future, nor is it the projects we need money for. Anyway, thanks for taking the time to check it out at all :)" |