This is why it is taking longer to raise investment for those who are not familiar with funding process:
Many of people might not be aware of this or take into the consideration the laws that govern raising funds. The main reason why Chaya hasn't been providing much of an updates regarding raising investments is because you can't say that you are raising money when you are working with registered broker dealers. It is illegal by certain laws.
The main thing is that the company has received multiple of offers for funding that it rejected out of concern for over dilution for existing shareholders. You have to be aware of the fact that most of the smaller deals in the United States involve secured debt and SMME rejected many of such an offers because it wants to keep its balance sheet clean out of this type of debt. The job of CEO is to do what is the best for the company and its shareholders, this is the main reason of why rejections had to be made and we have to wait longer for funding. The good news is that the company has been successful in the past in raising money and there is no reason to think that it won't be again. As a matter of fact, I think that we are very close in having the funds needed for the production on terms that are good for all of the shareholders.
In terms of product quality, many people that participate in this forum that have seen the card and are familiar with it wrote regarding this. Technology that has been used, years spend in research with development, and revolutionary ideas behind it, are just a few indicators of a good product.
There are many variables outside of SMME's control or any company. I wrote regarding them in my past posts with few examples.
Although raising funds, takes longer than we would like it or Chaya would like it to be it is for a good reason. In terms of timing, you have to ask yourself, whether it is better to go faster and sacrifice product quality and good funding terms for the sake of finishing things fast. Remember that great things take time to build.
