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 国内办学投资三问 -- 股份的分配 |
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国内办学投资三问 -- 股份的分配 -- 游客 - (1232 Byte) 2003-9-23 周二, 00:47 (1951 reads) |
hghg
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作者：游客 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
to me the 12% equity stake is not a good deal at all.
1.the right side of the balance sheet: (i assume that the loan is the loan, not the equity investment, otherwise, it shouldn't be called as a loan.)
debt 6 mln
equity 2 mln
Total 8 mln
if i invest 1 mln, i should ask for 50% equity, not 12%.
2. Risk free investment promise. Don't buy that except 1.) there is an insurance against your claim; 2.) you have full confidence on the people that you are dealing with. To me, the promise doesn't worth a dime. No risky investment can guarantee that it is risk free and your investment is a risky one. So I won't give even 1% equity for risk free promise.
For the management team, generally, it is beneficial to grant them some equity stake to align their interest with that of the firm. But in this case, they already hold more 50% stake, the incremental stake won't really make any difference. Depend on your return expectation, the school can either pay them a annual salary, or you give up some of your equity. (Since u own only 12%, no room for you to give up any more equity.)
3. School management and audit. U r here in US and have 12% stake, guess u will have very limit influence in the school management. The key issue to you is how to audit the income statement. You must make sure they are telling the truth about the p/l.
4. If loan is not available, you may be asked to provide more money to save your investment. Cross your finger, my friend.
It seems that you were given some promises about the investment. I would rather to hear from them about what the major risks are.
Good luck.
作者：游客 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 国内办学投资三问 -- 股份的分配 -- 胡思乱想 - (1232 Byte) 2003-9-23 周二, 00:47 (1951 reads) - not a good deal, my friend -- hghg - (3256 Byte) 2003-9-23 周二, 03:06 (495 reads)
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