Nigel - 11/15/2008 5:04 AM
Hi Greg
I am referring a few Australian divers to divebuddy.com and they all love it! You might notice a few more coming from Western Australia over the next few weeks as I am assisting on an open water course next weekend. Divebuddy.com is good because it is a global site. Whilst other sites like DiveOz.com concentrate at a national or local level and are excellent Divebuddy.com actually allows divers from Australia to connect with divers overseas and get the gossip on where to go what to do and see etc. I think that the site could be enhanced by being able to sort members by location and somehow allowing divers to foucs in on a local level ... Easier said than done I know.
As for taking equity what is the legal structure? Is it a company limited by shares? Would it be your intent to go for an IPO? or keep it limited to 20 shareholders? I am not sure what the laws are in the USA but more than 20 shareholders here in Aus requires you to lodge a prospectus etc etc... Even so if you are thinking of a company limited by shares you’d have to put together a convincing business plan showing a return on investment. Of course that approach is an antipathy to Maggies comments (Hi Maggie - Good to see you last week - when are we going diving again? Nick and I Caught our first cray today!)
Perhaps developing your options is a good way of stepping forward. This way you’ll know how much you need
Kind regards
Nigel