all i see is a wordpress blog with a $55 theme and some review articles and a calendar plugin. a 1-man hobby project wouldn't look much different. what do you need money for?
The site offers a lot of information for alternative coins, we are an information based site above all else. On one side you have a site like Coindesk that is widely reputable and the other side you have coinmarketcap.com and all market based analyzing sites.
Ultimately here is a rough IPO breakdown:
1) 20-25% are being taxed by the IRS according to the new taxation laws. Coins Source will ultimately set-aside this amount.
2) 5-10% For LLC formation, Federal Registration, State of California Taxes and Los Angeles taxation
3) 10% Roughly about 5% is going to go into hiring contract workers to further develop Coins Source, the other 5% is optimizing and buying licenses for software we need to operate efficiently.
4) 20% Several of my employee's have written agreements for payment. We initially had a working income, but several of us decided to take a cut from the IPO based on our work. This does not include my salary or payment for my time (CEO). The rest of the payment is to contractors that've already done work for us and are being put on hold.
5) 10% is going to be set aside for insurance, lawyers and legal consults (for LLC formation)
6) 30% is still to be determined.
This is a very rough outline, i'll go more in depth if you desire. Also if you want to get a copy of the business plan please email us
Stockshares@Coinssource.com or pm me.
Much of the funds will be reinvested in enhancing the website. Again, we've spent hundreds of hours doing the information part of the site, we'd like to enhance it with features such as: heavily involved market analysis, further our techninology through analysing markets for premium members, we need to hire more employee's and we are going to get Coins Source as a(n) LLC.
This is an opprutunity, if you see the niche that Coins Source fulfills in between the empty space in the alternative coin world.
