Hello :D
Alright here's a small description of my business and its owners:
Two out of the three owners are under the age of 18. We are making a 3D printer, going to various cities, have booked booths at technology expos in the New England area, and will be showing off this printer this fall, seeking angel investing and venture capital. Now here's some general questions answered:
How is this business financed? We currently have funding from our own pockets. We plan to seek larger venture capitalists and angel investors when the printer's first prototype is completed.
What state is this company's office in? The company is currently ran in Maine. We plan to branch out to either New Hampshire or Massachusetts once larger funding is being invested.
How will these minors be able to operate this company? Since I have been studying business administration and management for almost six years, I would consider myself pretty knowledgable about this kind of field. Since I won't be 18 years old for about two and a half years, I plan to emancipate when investors have grown interest. The other minor will be 18 in less than a year.
Can this (product) cause harm to others? Yes. It could cause burns.
Hold up...if you're "so knowledgeable" how come you're asking random people on a forum for help? I'm guessing you all have a lot more experience than me. It's also the same reason I'd go to an accountant or an attorney for help.
How much money do you think you'll make within the next five years? Well, considering if the company receives enough investments within its first round, the prototype is completed within the expected time frame, and we don't get bought out or destroyed by a larger company, we hope to have profits of $500,000 USD or above.
How do you expect to pay back investors? Equity/Ownership of the company.
What entities are being considered? C-corp or an LLC.
Why don't you ask a lawyer or accountant Mr. Powerful Teenager CEO? Well, if you read the TEENAGER part, you can guess 95% of the money being spent is spent on the printer. You can also probably guess I don't make much money at the MINIMUM WAGE job I have now.
How old are you? Take a guess.
THANKS EVERYONE! I appreciate it :o
Alright here's a small description of my business and its owners:
Two out of the three owners are under the age of 18. We are making a 3D printer, going to various cities, have booked booths at technology expos in the New England area, and will be showing off this printer this fall, seeking angel investing and venture capital. Now here's some general questions answered:
How is this business financed? We currently have funding from our own pockets. We plan to seek larger venture capitalists and angel investors when the printer's first prototype is completed.
What state is this company's office in? The company is currently ran in Maine. We plan to branch out to either New Hampshire or Massachusetts once larger funding is being invested.
How will these minors be able to operate this company? Since I have been studying business administration and management for almost six years, I would consider myself pretty knowledgable about this kind of field. Since I won't be 18 years old for about two and a half years, I plan to emancipate when investors have grown interest. The other minor will be 18 in less than a year.
Can this (product) cause harm to others? Yes. It could cause burns.
Hold up...if you're "so knowledgeable" how come you're asking random people on a forum for help? I'm guessing you all have a lot more experience than me. It's also the same reason I'd go to an accountant or an attorney for help.
How much money do you think you'll make within the next five years? Well, considering if the company receives enough investments within its first round, the prototype is completed within the expected time frame, and we don't get bought out or destroyed by a larger company, we hope to have profits of $500,000 USD or above.
How do you expect to pay back investors? Equity/Ownership of the company.
What entities are being considered? C-corp or an LLC.
Why don't you ask a lawyer or accountant Mr. Powerful Teenager CEO? Well, if you read the TEENAGER part, you can guess 95% of the money being spent is spent on the printer. You can also probably guess I don't make much money at the MINIMUM WAGE job I have now.
How old are you? Take a guess.
THANKS EVERYONE! I appreciate it :o
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