Thanks for the reflections. We've turned away from the $20K offer for help too. Just didn't make a lot of sense. And, while turning away, we suggested to the lawyer that if he'd bring a demonstration of interest from the prospective investors he mentioned, we gladly revisit the decision to have him do the PPM. Seems we sort of trapped him in his pitch, on the one hand he's supposed to be telling others about our great business opportunity, then he'd have to hand off a PPM that reveals all our warts, and weaknesses. Haven't heard any more from him on the matter.
Did get a 'Blue Sky' assessment of the needs, and requirements for selling securities in the immediate 4 state area, from a different firm, and discovered the the rules for filing a PPM with each state vary somewhat. But the requirements of the PPM are basically stipulated by the SEC, and, while not a simple task, an adequate job can be done with a lot of elbow grease and plenty of outside reviewers.
Bottom line is, we now have a PPM, which we will use as the 3rd step in our invester-document presentation package. Our first level of interaction, beyond conversation, is an NDA. If that flies, we'll pass along our Biz Plan, and an investor qualifier document. If that flies, and the prospect qualifies, we'll send along the PPM, and register it with the appropriate authorities. If that flies, we'll consider an offer, and if not, at least we'll have made a token effort to protect our flank from someone trying to hijack our strategy.
BTW, I love the Teton valley, spent many years camping, hunting, skiing, fishing, and chasing girls around the valley between the 60's and the 80's. Sometimes I miss it, alway's will love it, Especially now, it's spring time.
Regards,
Boom