Before I repost his forum update, I just read this interesting and thought provoking article on Inc.
http://www.inc.com/quora/1-simple-question-you-should-always-ask-to-catch-a-liar.html
FYI - He may be referencing this blog in his posting. To date, I have not seen or received any direct communication from Chris requesting anything posted/emailed to remain confidential. To the potential investors that he mentions: What content of this blog is new information that you did not uncover during your normal due diligence process? I would be surprised if you were not privy to more information (including non-public financials) than I've been able to discover and share. Also, an open invite to any investor/prospect to contact me - even confidentially.
Now to Chris (reprinting in full):
Hi everyone,
Fundraising
It has been a positive couple of weeks. We have some new funds interested and pleased to say we have some committed money due March
.
There is still work to do to bank this, and we need more but it is a step in the right direction.
One of the key meetings this month got postponed, hoping that will bring further good news.
Data
As mentioned in our last update we have been collecting the data necessary to support ongoing due diligence as part of the current funding round. While we'd love to share some of it the timing is not right especially as it may end up in the public domain.
We've already found this to be a liability and has had a negative impact on our funding efforts. Potential investors are extremely sensitive to information leakage and expect confidentiality to maintained.
It's also sucked up valuable days, legal costs and advisor time.
So I urge you all, please hang tight. We are able to produce these machines. And we're working hard to get everyone brewing.
P.s.
I know some of you follow the progress of the bar. There is a new wine bar opening upstairs. A couple came with an idea to utilise the space, so we are letting them run with it. We are hoping it will help with sustainability.
__
As always, any questions let me know.
Fundraising
It has been a positive couple of weeks. We have some new funds interested and pleased to say we have some committed money due March
.There is still work to do to bank this, and we need more but it is a step in the right direction.
One of the key meetings this month got postponed, hoping that will bring further good news.
Data
As mentioned in our last update we have been collecting the data necessary to support ongoing due diligence as part of the current funding round. While we'd love to share some of it the timing is not right especially as it may end up in the public domain.
We've already found this to be a liability and has had a negative impact on our funding efforts. Potential investors are extremely sensitive to information leakage and expect confidentiality to maintained.
It's also sucked up valuable days, legal costs and advisor time.
So I urge you all, please hang tight. We are able to produce these machines. And we're working hard to get everyone brewing.
P.s.
I know some of you follow the progress of the bar. There is a new wine bar opening upstairs. A couple came with an idea to utilise the space, so we are letting them run with it. We are hoping it will help with sustainability.
__
As always, any questions let me know.
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