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AL-BEAU
Ownership
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There will be 100 investors only, on a first
come, first served basis. All investors will
meet and be interviewed and accepted or denied
by the principal.
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The cost to each investor is $11,000, ten
thousand for one share in the foal and one
thousand to be put in a working capital account.
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All funds are to be put in an escrow account
until the foal is born, stands and nurses.
All funds, less attorney’s fees, will
be returned to all individual investors if
the foal is aborted, born dead or does not
stand and nurse.
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Within one month of the birth, an LLC corporation
will be formed and a five-member Board of
Directors will be elected, or appointed, from
among the investors. Board members will serve
for one-year terms. They will hold meetings
at least once a month, and those meetings
will be open to all investors. At those meetings,
the board will discuss and vote on expenditures,
decide on the corporation’s actions,
brainstorm, and do whatever is necessary to
make this a profitable and ethical business
venture. The principal will manage the corporation,
at no charge to investors, until and unless
he is voted out by the Board of Directors.
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The principal will maintain control of the
foal for six months after birth, or until
the foal is weaned from the mother, whichever
comes first. This is for the well-being of
both foal and mother.
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Shares in the foal are transferable, but
all transfers must be approved by the board
of directors.
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All decisions of the board of directors are
final.
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Distribution of all profits from this venture
will be made annually, less 10%, WHICH WILL
REMAIN IN THE WORKING CAPITAL ACCOUNT.
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Profits will only be distributed when the
working capital account is not below the $100,000.00
level. All funds above this amount will be
distributed to each investor on a per share
basis.
Return on Investment
Explanation
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