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From: Perry and Lorae Merritt (plmerritt, hypermall dot net)
Date: 2002.01.22 - 15.39 MST
X-Mailer: Microsoft Outlook Express 6.00.2600.0000
Since Don asked, thought I'd drop you a quick note on the funding status.
Last week it felt like we'd take one step forward, one step back and then
one step sideways. This week doesn't look a whole lot better. The guy in
Palm Springs is still reportedly in for a million and is trying to get some
of his friends to come in with him to get us to our full funding amount. The
friends want a better stock price than we offered and hence more ownership
of the company. We're trying not to give the ownership of the company away
and we also want to maintain a pool of stock that we can give our beloved
employees. As a result, we've figured out a funding schedule that allows us
to recieve 1-2 million dollars in the first round at a lower stock price and
then subsequent rounds of funding will come at higher prices. Afterall, the
further we get into development, the more the company is worth. Anyway, our
contact, Iggi left for Singapore Sunday afternoon and won't be back until
Saturday. There is a chance he'll contact the Palm Springs guy on Wednesday
and let us know. Otherwise it will be a quite week on that front. Iggi is
also showing our stuff to some Asian investors while he's there.
We have a patent lawyer that will review and file our provisional patents
this week for the same price as the patent office charges to file. Basically
$160 per patent. He's doing it so that when we file our utility patents
we'll use him. Utility patents cost upwads of $10,000 to file. Over the
weekend I sent him the two patents. We're scheduled to meet the guy on
Thursday. He also asked for a copy of our business plan executive summary.
They work with two different venture capitalist firms and he said he would
show it to them. We sent him the executive summary this weekend also.
Wish I could tell you it's time to get off your butts and get to work, but I
can't.
P
----- Original Message -----
From: "Don jessup" <djessup72, yahoo dot com>
To: <antera, cryptofreak dot org>
Sent: Tuesday, January 22, 2002 3:33 PM
Subject: RE: Check it out.
>
> Any new news?
>
>
> --- Kevin and Karen Martindale
> <kevindm, mindspring dot com> wrote:
> > Cool, Perry.
> > It's this kind of stuff that makes me anxious to get
> > back to work.
> >
> > Kevin
> > -----Original Message-----
> > From: owner-antera, cryptofreak dot org
> > [mailto:owner-antera, cryptofreak dot org]On
> > Behalf Of Perry and Lorae Merritt
> > Sent: Sunday, January 20, 2002 8:22 PM
> > To: antera, cryptofreak dot org
> > Subject: Check it out.
> >
> >
> > http://216.241.44.185/index.shtml
> >
>
>
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