Thursday, October 13, 2005

RO and I just got back from the lawyer-- we are forming a corporation to run the business under. It's a little nerve racking. It's amazing how fast we are going through cash and we haven't even opened. No one expense is unreasonable, but there are dozens of expenses.

Right now RO and I are figuring out how to structure the shares. It's fairly simple if RO and I are (and stay) the only owners. Things get much more complicated if we take on other partners. It hard to figure out what's fair. What happens if RO and I split? Should the investors loan us money? Should we let them buy shares? How do they get their money out? How much control do we retain?

Right now I'm the president. So I get to sign my name "Brain Dump, President of Corporation."

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