New Investor Not Coming to the Party

Discussion in 'Growing and Managing a Business' started by faultykid, Sep 3, 2015.

  1. faultykid

    faultykid
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    Hi Guys,

    I Recently started a new company, and sold 50% to an Investor.

    The deal for 50% of shares was

    1.) An Interest free loan of up-to $100 000 to grow the business.
    2.) $100 down payment.

    Funds Received so Far
    June - $20 000
    July - $2 000
    August - They withdraw $7000
    So in total I only have $15 000.

    This is payday company, although my profits are in arrears with slow paying clients I'm yet to make a loss. I'm still at break-even until I collect the arrears.

    But they are not coming to the party with the rest of the FUNDS. So I cannot grow the business at all and can't service new clients, also I have not taken a salary and am running the business 100% by my self.

    What should I do? Can I get out this deal?
     

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