nogunha, read your links first before you post them and you'll learn that of all the angel groups that are listed, virtually every single one (with the single most notable exception being "Gathering of Angels" which I personally belong to here in the Naples FL branch) bases their investments on criteria involving certain types of "business specific" i.e. tech, bio, pharm, building, etc. opportunities or geographic locations, neither of which apply even marginally to RVGD.
I understand that you have no exposure to angel investment, so I'm going to give you a summary snapshot of how it works.
First of all, the applicant usually (one way or another)comes into contact with a member and a conversation about the company ensues. If some degree of merit is perceived, the applicant is then asked to provide a business plan and personal / financial / references and records. The data gathered is then analyzed and the applicant is subjected to the questions, criticisms and comments of the group (or a designated representative).
A valuation of the company's potential is then performed and an offer (if one is made) will be based on a weighted formula that takes into consideration the current status of the company (some refer to this as the relative "fragile status"), the judged ability of the founder(s) to actually get the business plan to work and what the timing and financial magnitude of what the angel's eventual exit strategy would be. Typical adjunct codicils to any angel investment would include non-dilutive rights, first refusal rights, a degree of financial control, numeric control board membership positions, and fulfillment penalties in conjunction with claw-back privileges.
A couple of things stand dramatically in the way of RVGD securing angel funding, first and foremost being the fact that it's already a public company, which would necessitate doing a total restructuring, and that wouldn't bode well at all for current shareholders.
Secondly, please know that the comprehensive body of due diligence investigation that a company goes through to get the first nickel from an angel investor is "beyond extensive", and that less than 10% of angel investment applicants get past this stage alone.
RVGD has too many current structural obstructions, too many long established warts and too many already documented shortfalls to generally appeal to an angel investor, they want new, they want fresh and they want clean..... don't forget that angels have chosen able to be angels not just because they're financially well positioned, but that they are real businessmen who pretty commonly have well above average ability to judge and evaluate the companies and the people they choose to work with.
Angels are the toughest investor nut to crack, they don't really have gossamer wings, bright smiles or halos,....metaphorically, even..... my group wouldn't even consider looking at a company like Revenge, particularly once they invested 10 minutes in some google research.
Just for the fun of it, watch "Shark Tank" on ABC or "Dragon's Den" on BBC and you'll see angel investors at work..... and they're not "angelic" at all..... they truly are "sharks and dragons"!
