Sew Me a Company
It looks like you can now join the actual company, by buying shares! Or you can at least ‘invest’. Let’s go through this process a little bit.
Firstly I have to tell you that she offered me a 50% stake in the LLC which does not exist (and cannot due to the bankruptcies already against her, preventing any such ownership of an LLC) which I thanked her for but was immediately suspicious. Who offers 50% of their company to someone they have met for a month?
Any ‘investment’ in an LLC has strict rules, guidelines and heaps of paperwork before it’s ‘legal’. You’ve all probably heard of an IPO – initial public offering on the stock martket? So a private company investment is pretty much the same in terms of rules and regulations except it’s a private concern, but the paperwork still has to be lodged with the authorities. So although you might get a nice shiny ‘share certificate’ it will not be worth the ink it cost to print it.
Also before investing in a company, you really should ask for a Profit and Loss and Balance Sheet – just to be sure of what you’re buying into – either a credit or debt position. Either is fine if you see potential but it is prudent to understand whether or not you are getting yourself into a debt position at the beginning.
As she doesn’t do her books – at all – and barely her taxes – I strongly doubt a profit and loss will be available any time soon.
You’ll just have to take her word – just like you did when you paid for a pattern update and videos well over a year ago now – still waiting….
Likewise, copies of invoices for costs to run the business should be provided. It would be interesting to see exactly what makes up the now $6-7,000 a month website, which only a couple of months ago cost her $5,000 “all for you. I’m doing this all for you so just be patient and grateful that I’m making you a place”. FML.
These probably won’t be made available but absolutely should be if you’re going to ‘invest’ any extra cash. Again she will prey on the uneducated and marginalised and they will be thrilled to be a stock holder in a company.
Keep in mind, with every purchase you have made from her, you have already ‘invested’ in her company. And what products ‘exactly’ do you have that are original, exclusive, and most importantly delivered?
Carry on and let fear drive you forward.
