I see plans where there is no company, a one man army. There are obviously no customers and no revenues. There is a spreadsheet which shows an exit valuation of $50MM. The entrepreneur wants to raise $1.4 MM and is prepared to invest the princely sum of $10,000 including money from friends and family. Obviously this is the first company that the entrepreneur is doing and there is no lawyer that the entrepreneur has and no advisors.
Another plan was trying to raise debt from angels at 9% because that is higher than the fixed deposit rate ?
Would you invest as an angel? If you would there is a bridge in Brooklyn I want to sell to you.
Please do not send me plans like this. You are wasting my time and yours.
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