F Update
Below same summary as yesterday but with confirmed speaking engagements included.
Current Liabilities: £ 4,684,436 (completeness not confirmed, no tax status available) Might be able to negotiate to defer / convert into 10-year notes (approx. £ 2.5 million)
Business Model:
Use Mothers Army brand (MA) in all activities.
(MA stands for integrity, consciousness, morals, etc)
Revenues:
Current deals, not signed — DS reviewed contracts:
Handmade Films for animation of children characters:
o [ ] Executive Producer for series "Tea For Ruby": 15% of producer fee,
7.5% of Handmade feeo [ ] Series "Tea for Ruby": £125K upon signing against 5% of production
budget; 30% adjusted gross of all revenueo [ ] Series "Little Red": £75K upon signing against 2.5% of production
budget; 30% adjusted gross of all revenueo [ ] Series Nat Geo Kids: £15K per episode; 15% producers fee; 30% of
adjusted grosso [ ] Option to acquire 500,000 shares in Handmade Kids Inc. (to be
established) as non-executive Director
Current deals, not signed, DS is still waiting for contract drafts to verify:
Book "Mothers First" to be published by Atria: US$500k milestone based plus unknown royalty
Star Branding (Hilfiger) & Castle Hill (manufacturer): fashion line with Tommy Hilfiger support. Castle Hill guarantees sale of US$18m over 3 years of which F. royalty is 8% of which 40% goes to Star Branding (note: bad financial deal but F states that Tommy Hilfiger wants to create TV show staring F and himself about the launch of this label - this would put F. back on screens of US households)
Speaking Engagements Confirmed Bookings:
Gilda's Club Cancer Benefit
Friday, March 19, 2010
Davenport, Iowa
Fee: US$45K gross/US$35K net plus US$7500 travel
Michigan State University — Women in Leadership
Friday, April 16, 2010
Detroit/Lansing, Michigan
Fee: US$40K net plus $7K travel
Women for Women Annual Power of the Purse Luncheon
Wednesday, May 5, 2010
Greenville, NC
Fee US$25K minus 12% plus roundtrip air UK/US
Celebrity Series/Washington Speakers Bureau Monday May 10, 2010 Denver, Colorado Fee: US$50k + hotel and meals — does not include air /ground travel
Discussions held but no contracts, nothing verified:
Handmade/United Business Media merchandise: US$ tbd
QVC selling products of F: US$ tbd
Frozen Food with Findus Group: US$ tbd
TV show Pony Express in association with Target: US$ tbd
Structure:
Mothers Army Inc or Ltd (need to check tax / JEE preference) 49% F equity / 51% JEE F Salary on US$250.000/year Receive income as loan: pledge stock
Initial Basic Set Up: (fire all current staff)
Office in New York (or London)
1 Managing Director (identified by DS)
1 PA
Estimated Basic Budget p.a (not disucsed with F.) : US$ 1.1 million
F Salary US$250.000
MD Salary US$170.000
Legal US$200.000
Travel US$300.000
Office costs incl PA: US$150.000
Misc : US$30.000
Note: question is whether the office and her location should be in NYC. Would make sense because UK market is poison for her and business is in US. Travel costs would be exchanged for NYC living cost (rent etc)
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