Monday, March 21, 2016 1:08:57 PM
Transparency with respect to these agreements does make a difference. It allows shareholders and potential investors to understand for themselves which contingencies exist, the ability to comply with them, the cost of repurchase, recourse for all parties etc.
The reason written agreements (contracts) are drawn up and designed/reviewed by legal counsel is to protect the rights of the respective parties, detail terms, serves as proof to promises made etc. Did you sign off on a couple paragraphs or the entire agreement(s)? Why shouldnt your shareholders/potential investors have access to the same documents you required to evaluate for themselves?
Nobody is asking for your entire hard drive (so dramatic). Maybe you just dont want to provide those agreements for review, thats what its starting to sound like to me..
Sure, I understand your desire for access to capital. Yes, thats really important to YOU! However, some would like to evaluate for themselves what the chances of pulling off all youve represented by examining all the pertinent agreements.
How ADIAs destiny was placed in the hands of these people resulting in disaster is enough for you to lose any benefit of doubt moving forward
Provide the agreements!
Whys that such a problem?
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