The Basics of Borrowing From Friends and Family
Forget for the moment that your investor is a friend or relative.
Make it an “arm’s length” transaction, and insist on the same sort of legal documentation you’d prepare if they were a total stranger.
So if it’s a loan, have your lawyer prepare an IOU (called a “promissory note”) for the friend or relative, and don’t offer less than a commercial interest rate.
If someone buys stock in your business, they are legally your business partner.
Of course, you risk losing friends and straining relationships with relatives.
Be upfront about risks, lay out the business plan that their money will fund, and put the rules behind the investment in writing.
It could be a gift, a loan or an equity investment in the business.
Also, gifts can quickly turn into loans in the minds of friends and relatives should you succeed.
You don’t have to pay them until you make a profit or cash out, but you’re literally turning a friend or a relative into a business partner if you give them an ownership stake in the company.
It’s always advisable to present a formal business plan when pitching to prospective investors — even friends and relatives.
7 Side Hustles to Make Some Extra Cash This Holiday
If you love this time of year, but want to offset some of the cost and ease the January bill hangover, why not make some extra cash this holiday season?
Check out these ideas for embracing the Christmas spirit without absorbing the cost: 1.
All you need to do is go onto these sites to have access to the job offerings.
Sell Christmas trees.
What’s it like buying a Christmas tree where you live?
Provide decoration services These days, families and businesses alike spend a lot of time decorating for the holidays.
The Christmas Decorators began with a small idea to sell decorations for residential customers, but evolved into a thriving full service business.
You can make enough money during the holiday season to last you throughout the year, if you plan things carefully.
The holidays are a busy time of year.
An extra pair of hands will always come in handy; and, if you’ve got time on yours, you can use it to help people get things done.
3 Keys to Stop Being a Helicopter CEO
3 Keys to Stop Being a Helicopter CEO.
Over several years, we’ve grown to more than 40 employees.
But I’ve also found that being a “helicopter boss” just doesn’t work, as your company scales.
You can’t do it all, so find the people who can.
Earlier this year, we completed a series A financing round, and have plans to quadruple in size within months.
But finding ways to keep the lines of communication open can also go a long way toward keeping people happy and on board — something that organizations as diverse as Google, American Express and Southwest Airlines have also recognized.
The tricky part as CEO is finding the time for communication.
Because replacing an employee costs one-fifth of an existing one’s salary, I’d say our lunch-and-learn sessions are an investment of time worth making.
The one area that I did have to brush up on, myself, was investor relations.
Even if you’re not explicitly seeking new funding, you should always be meeting new people and strengthening new investor relationships.
MRF 2017 Resource Limited Partnership announces Initial Public Offering – Maximum $50,000,000
MRF 2017 Resource Limited Partnership announces Initial Public Offering – Maximum $50,000,000.
The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns, including the deductibility of 100% of their original investment.
The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio comprised primarily of equity securities of Canadian exploration, development and production companies involved primarily in the oil and gas and mining sectors.
Middlefield® is a leading provider of flow-through share funds in Canada and has a strong track record of delivering positive after-tax returns.
Since 1983, Middlefield has sponsored 56 public and private flow-through funds and has acted as agent or manager for over $2.5 billion of resource investments.
The syndicate of agents for the offering is being co-led by CIBC Capital Markets and RBC Capital Markets and includes Scotiabank, BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., GMP Securities L.P., Manulife Securities Incorporated, Canaccord Genuity Corp., Middlefield Capital Corporation, Desjardins Securities Inc., Echelon Wealth Partners Inc., Industrial Alliance Securities Inc. and Raymond James Ltd. A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada.
The preliminary prospectus is still subject to completion or amendment.
Copies of the preliminary prospectus may be obtained from members of the syndicate of agents listed above or from your IIROC registered financial advisor using the contact information for such agent or IIROC advisor.
There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
SOURCE MRF 2017 Resource Limited Partnership For further information: please visit our website at www.middlefield.com or contact Nancy Tham or Michael Bury in our Sales and Marketing Department at 1.888.890.1868.
CanniMed Files Final Prospectus and Announces Pricing for Initial Public Offering
SASKATOON, Saskatchewan–(BUSINESS WIRE)–CanniMed Therapeutics Inc. (“CMED” or the “Company”), a leading plant biopharmaceutical company specializing in the production of pharmaceutical-grade cannabis, announced today the pricing of its initial public offering of 5,000,000 common shares at a price of $12.00 per common share (the “Offering”).
The Offering is expected to result in aggregate gross proceeds to CMED of $60,000,000.
In addition, CMED has granted the underwriters an option, exercisable in whole or in part for a period of 30 days following the closing of the Offering, to purchase up to an additional 750,000 common shares at a price of $12.00 per common share, to cover over-allotments, if any (the “Over-Allotment Option”).
Closing of the Offering is expected to take place on or about December 29, 2016, subject to customary closing conditions, at which time the common shares will commence trading on the Toronto Stock Exchange (the “TSX”) under the symbol “CMED”.
The Offering is being made through a syndicate of underwriters led by AltaCorp Capital Inc. and including Canaccord Genuity Corp., Clarus Securities Inc., Mackie Research Capital Corporation and Haywood Securities Inc. A copy of the final prospectus is available on SEDAR (www.sedar.com).
No securities regulatory authority has either approved or disapproved of the contents of this news release.
The common shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About CanniMed Therapeutics Inc.
Forward Looking Statement This press release contains “forward-looking information” within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the trading date of the Company’s common shares and the exercise by the underwriters of the over-allotment option.
trivago Announces Closing of Initial Public Offering and Exercise of Underwriters’ Over-Allotment Option
7 Things Brands Can Learn From Trump’s Social Media Strategy
7 Things Brands Can Learn From Trump’s Social Media Strategy.
In fact, Trump effectively used social media as a way to bypass the media and “tell the people how it really is” (in his view).
Just as Trump sticks up for himself to the general public, your brand can do the same (within reason!).
Trump spent significantly less money than the Clinton campaign and suggested that this was because of the lift he got from his social platforms.
JetBlue is a company known to respond online to customer inquiries and complaints in a friendly, fun way, all within in a timely manner.
Social media activity indicated that Trump was likely to win; and the same platforms can show you how your brand is performing, too.
The younger set doesn’t trust the media the way the boomers used to, either.
But access to a brand through social media does help build legitimate trust for it, because the messaging comes directly from the source.
Your brand can do the same thing by harnessing the power of your supporters and providing sharable links, videos and actionable content.
Find what content works best for your audience member and give them a reason to share it with others.
What Is a Leader’s Most Important Job?
What Is a Leader’s Most Important Job?.
Leadership styles come in all shapes and sizes, and getting the job done, whatever the job may be, seems to be front and center of the focus of most of those in leadership positions.
Provide inspiration.
Besides, my vision is to empower others to empowers others, so I need help!
I am aware that my actions will affect the group as a whole, so I do by best to “walk the walk” and let my words and actions empower and provide inspiration.
Do I make mistakes?
Sure, but isn’t it also inspirational when a leader takes accountability for their words or actions when they are wrong?
There are also times when I need to provide constructive criticism.
Eventually, I have everyone at the office aligned with my principles and the value system that we’ve formed together.
I have seen time and time again that people who feel empowered have much better morale than those who don’t — and this directly translates into better performance.
SBI Life looking at IPO in next 12-18 months
SBI Life looking at IPO in next 12-18 months.
No precise timeline has been set yet, says SBI Chairman Mumbai, Dec 21: The country’s largest lender State Bank of India (SBI) is looking at an initial public offering for its life insurance arm SBI Life Insurance in the next 12-18 months, according to SBI Chairman Arundhati Bhattacharya.
Addressing the media at the inauguration of SBI Life Insurance’s central processing centre in Navi Mumbai, Bhattacharya said, “Yes, we are looking at it in the next year or 18 months.
SBI did not divest 5 per cent in SBI Life as envisaged earlier; it sold only 3.9 per cent on December 9 to investors, including Temasek and KKR at ₹460 a share, valuing the life insurer at ₹46,000 crore.
(Following this transaction, SBI holds 70.1 per cent and its joint venture partner BNP Paribas Cardif 26 per cent].
On this, Bhattacharya said, “We divested less because we wanted to have the ability to do an IPO.
As you know, in an IPO, you have to put 10 per cent, at least.
If they dial up by another 10 per cent we would not have another 10 per cent to divest.
Therefore, we decided to do it at 3.9 per cent so that even if they dial up and in the IPO, only we put our stake, even then we will be at 50.1 per cent, which is where we want to be.” On the valuation of SBI Life Insurance vis-a-vis its private sector peers, Bhattacharya said: “I think ICICI Prudential Life currently is around ₹42,000 crore and ours around ₹46,000 crore.
And, if you put HDFC and Max together, probably it will be a little more.
Facebook Introduces Live Audio
Facebook Introduces Live Audio.
Have something super timely to share with your Facebook audience, but don’t want to go live and show your face?
The social network has just the thing.
The feature should make it a lot easier.
It may also be especially useful when you’re trying to go live from an area with weak network connectivity, they said. “From interviews to book readings, we’re excited about the layer of interactivity that Live Audio brings to both the broadcaster and listener,” Ip and Radhakrishnan wrote.
The new format should be more broadly available to publishers and people early next year.
You’ll be able to discover these Live Audio broadcasts right from your News Feed and interact with them just like you can live videos — by asking questions and leaving reactions in real time, and/or sharing the broadcast with friends.
The new feature comes after Facebook just last week debuted Live 360, which combines Live and 360-degree videos.
More from PCMag
Learn a New Language and Save $90 With Rosetta Stone
Learn a New Language and Save $90 With Rosetta Stone.
In light of this, one of the best things a young entrepreneur can do is learn a new language, particularly when fostering business relationships globally.
For an effective way to master those skills, we recommend Rosetta Stone ($90 off for a limited time).
Why learn another language?
You’ll adapt better to the increasing number of global business interactions.
You’ll think bigger.
This will even strengthen the way you approach building your business model.
Being a great listener.
There’s certainly no small talk when you initially learn a new language, meaning you’re able to speak right to the heart of the issue or solution.
If you purchase them, we may get a small share of the revenue from the sale from our commerce partners.
Is a Robot the ‘New Entrepreneur’?
Is a Robot the ‘New Entrepreneur’?.
When you look back throughout history, you can see that robotization isn’t new; there have been continuous advancements in automation, impacting industries, workers and entrepreneurs of all kinds.
In 1900, 41 percent of the U.S. workforce was employed in agriculture.
Glass-bottle blowing also developed an automatic model; it was introduced in 1905.
Immediately, glass-blowing output went from six men blowing 2,880 bottles in a day, to two men blowing 17,280 in a day, disrupting glass-production employment.
And that trend continues: Many types of industries today are methodically becoming automated over time.
and automation, in fact, is doubling each year.
Interestingly enough, the two other labor classifications (according to the NBER) that have actually seen annual increases in U.S. employment share are: Managerial/technology/finance/public safety (up 1 percent per year since 1980) Service occupations (up 1.1 percent per year since 1980) The first group might be expected — after all, these are the technologists building out the new A.I.
However, the second classification typically comes as a surprise to most when they discover that service occupations are the fastest-growing (human) part of the U.S. workforce.
Service work requires a specific skill honed over time, a direct client relationship and a sense of flexibility (or adaptation) on a per-job basis.
7 Steps to Achieving Any Goal in Life
The best way to achieve any goal in life is to not only set them the right way, but also to plan and execute their actions in accordance with achieving those dreams over time.
Because setting goals on New Year’s Eve, or any other day for that matter, can’t be done arbitrarily in the mind.
That might be why 34 percent of people give up on their New Year’s goals after the first month.
When you follow a proven plan for setting and achieving your goals the right way, you’re more likely to see things through.
What do you want to achieve?
If you plan to lose 50 pounds in the next 12 months, describe what your day looks like by the time you reach that goal.
You can’t just want to lose weight or make more money because those are goals you’ve always wanted.
Take the time to jot down the things that make you into who you are.
You’ll find your goal-setting journey to be much more harmonious and fluid when you pick relevant goals to your life and who you are deep down inside.
When do you plan on achieving this goal?
Employee Sues Google for ‘Illegal’ Confidentiality Policies
Employee Sues Google for ‘Illegal’ Confidentiality Policies.
The Information has reported that a Google employee brought a lawsuit against his employer, accusing the company for internal confidentiality policies that supposedly breach California labor laws.
One of the more egregious complaints is that Google apparently runs an internal “spying program” that encourages employees to snitch on one another if they think someone leaked information to the press.
Further, Google apparently warns employees to not write about potentially illegal activities within the company, even to Google’s own attorneys.
Essentially, the lawsuit alleges that employees are barred from discussing anything about Google anywhere.
According to the lawsuit, current labor laws state that employees should be able to discuss workplace conditions and potential violations inside the company without the fear of retribution.
Additionally, that it should relax the policies so that employees are allowed to speak about the company to outsiders under certain circumstances.
If successful, the state would collect 75 percent of the penalty, while the rest would be paid out over to the company’s 65,000 employees. “Google’s motto is ‘don’t be evil.’
Nicole Lee
5 Serious Business Books to Read Over the Holidays
5 Serious Business Books to Read Over the Holidays.
If you are looking for some book suggestions that aren’t just entertaining, but that can actually teach you a thing or two, here are some of the best business books to consider reading over the holidays.
1.Tools of Titans This book by Tim Ferris a great read if you are looking for a book with straightforward tips that you can start utilizing.
This book is also filled with different insights on habit forming and what habits today’s most successful titans have.
Ten Restaurants That Changed America This book takes a detailed look at different businesses that both succeeded and failed and why they succeeded and failed.
This is an easy and entertaining read that looks at the importance of capitalizing on changing trends in order to stay relevant in the market.
If you want to hear first hand from a very wealthy individual what it takes in order to build that wealth, this the book for you.
Only the Paranoid Survive.
This book is raw and straightforward as it talks about all of the hard, dirty and non-glamorous parts of starting and running a business.
The author, Ben Horowitz, is the co-founder of Andreessen Horowitz and he takes a very brutally honest approach to detailing what it takes to run, sell and manage a company.
7 Ways to Live With Job Stress That Isn’t Going Away
In Potentially Risky Strategy, U.S. Startups Are Piling on Debt
Persado CEO Alex Vratskides could raise venture funding.
His New York-based startup doubled annual revenue this year and is on track to break even in 2017.
TriplePoint’s volume is up more than 25 percent.
Western Technology Investment CEO Maurice Werdegar called volume “robust” and described the lending environment as “hyper-competitive.” Borrowing capital allows startups to postpone valuation negotiations that come with raising equity.
They require timely payments from all their companies, with interest that’s designed to provide the lender with a more predictable and less risky source of revenue than venture investing.
He says he didn’t consider tapping VCs again because another round would have diluted his shares too much.
The offers had interest rates ranging from 9 percent to 15 percent over two to five years, and the terms protecting the lenders varied.
Driscoll passed on that, opting instead for cleaner terms for a $14.25 million loan in October at around a 14 percent rate from Wellington Financial and City National Bank.
VCs have long arranged lines of credit for startups—which they can draw from, or not—at the time they invest to help them meet operating costs and ensure they don’t run out of cash between rounds.
So long as the terms are structured properly, it can be a good way to minimize dilution and build to the next funding round, he says.
Freshii files for initial public offering of shares
Freshii files for initial public offering of shares.
Restaurant chain Freshii Inc. is going ahead with an initial public offering of its shares.
Freshii says the offering will include a treasury offering by the company and a secondary offering by certain shareholders, including Matthew Corrin, Freshii’s chairman and chief executive.
The number of shares to be sold and the price has not yet been determined.
The offering will be managed by a syndicate of underwriters, led by joint bookrunners CIBC Capital Markets and RBC Capital Markets.
BNN previously reported the filing was expected as early as mid-December and that the healthy fast-food chain hopes to raise between $75-$100 million, with the final amount to be determined by investor appetite.
Freshii sells salads, bowls, burritos, wraps, soups, juices, smoothies and frozen yogurt.
Clocking in at 226 pages, the preliminary prospectus for Freshii’s initial public offering gives prospective investors a look at the company’s fundamentals.
While some key information about the offering – like the number of shares and price – are yet to be determined, the filing offers a window into the business behind Pangoa bowls and Smokehouse burritos.
Here’s some of what the filing tells us about Freshii, by the numbers: 244: Stores as of Sept. 25 4: Company-owned stores as of Sept. 25 810-840: Target for number of stores by end of fiscal 2019 4.8%: Same-store sales growth in 2015 (vs. 8.2% in 2014) $11,102,000: Revenue in fiscal 2015 (vs. $9,000,000 in fiscal 2014) $1,728,000: Net loss in fiscal 2015 (vs. $1,016,000 net profit in fiscal 2014) 67: Risk factors listed in the prospectus 10: Votes per Class B share 0: Anticipated dividend Source: Freshii IPO prospectus, all dollar figures in USD.