Wednesday, February 25, 2009

Fatal but not serious

We are now in desperate need of investment. Government grants are paying 50% of dev wages, but not coming close to covering our burn. Customers are showing muted interest but we are three months from potential --albeit unlikely-- revenues; the present investors are asking for such unlikely things a business plans and revenue forecasts; senior staff has not met with the Board of Advisors in over a year, and we are out of money.

Well, we better be.

Why should I make such a statement?

Because, I was just told by our intrepid COO that they will not be able to pay me what is owed on the first of the upcoming month. I will have to wait at least a week for the funds from the gov't.

But all is good. There are no problems. Nothing to worry about.

Arrgghh...