Monday, June 11, 2007
Some Updates
I will be leaving wednesday for a road trip to Tennessee to see Bannaroo. I am pretty excited. While I am gone, Nick and Miles will be working on a number of things. We just created an escrow account and will be uploading funds to that today and tomorrow. The funds will then be released over the next couple of days seeing that Ryan and Rohit have completed the tasks associated with the first phase. They will also be working with Rohit to answer his questions about our comments on the first designs so that they can get a better idea of what we want from the next set. The database and design architecture documents are also in the process of being reviewed. Although, we can't really comment to much on these because they mostly contain technical jargon. We are going to see if we can find a friend that is familiar with web programming to make sure the documents make sense.We have agreed as team that we will be all splitting equity and all costs associated with launching the business. Now that we have finally decided this we can obtain the LLC, a tax identification number, and create a joint small business bank account from where we will upload our investments and use to pay for all of our costs. On other news, Miles and I are glad that Nick will be an equal equity holder and founder, and that we have been able to better align all of our goals, expectations, and visions for the future. Nick will also start contributing to this blog shortly.I have sparked interest with our first potential advertiser, them being a real estate office that I will be working for part time. We have four other start ups that we may and will likely be affiliated with when we launch and possibly further into the future.We are hoping to call our company Text Works, pending on the availability of the name for LLC registration. Yet we are still trying to come up with an appropriate domain and application name.
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