Replies to post #6472 on Yuengling's Ice Cream Corp (YCRM)

[work-n-hard]

Start reading below the RED paragraph.

The proceeds of this offering will not be placed into an escrow account. We will offer our Common Stock on a best efforts basis. As there is no minimum offering, upon the approval of any subscription to this Offering Circular, the Company shall immediately deposit said proceeds into the bank account of the Company and may dispose of the proceeds in accordance with the Use of Proceeds.

[work-n-hard]

The "use of proceeds" is on page 14.
About 40% - for Bank Debt
About 40% - For Inventory
About 10% - Marketing
About 10% - New Product Development

There will be more shares sold to satisfy the deal, plus cash. Since as of the last Q, they only had about $2,000 in cash, the company is going to have to sell even more shares, either directly or to a financier, to come up with the cash part of the deal.
Bottom line is, we don't even know the terms, which means, we don't know how many shares will be sold beyond the 38 million for the "Offering"
The old line, " Buckle up, Butter Cup " comes to mind for shareholders. lol

[work-n-hard]

Just thought about this page, which sums it up.
Page 3 entitled "THE OFFERING".

Use of proceeds: If we sell all of the shares being offered, our net proceeds (after our estimated offering expenses) will be 500,000. We will use these net proceeds for working capital and other general corporate purposes.