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Originally Posted by roncri
Ok you asked for it. First let me say that I truly believe that the NAEB board is trying their best, but yes, I have some issues.
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1. I've asked before but never really got an answer. Who on the board has experience dealing with an OEM in matters like this? I have, and frankly it's a PITA. You have to have very detailed contracts that spell out both milestones and penalties for missing those milestones. You may not get your product any sooner but the OEM's milestone estimates become a lot more accurate.
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Answer: *NONE* of us. Of course, had someone - such as yourself - offered to pony up the same share of startup money as the rest of us did, you too could have been on the NAEB board. Where were you, hmmm...? Funny, but your comments strike me as Tuesday-Morning quarterbacking - from the safety and comfort of your Barcalounger.
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2. The decision to keep this a "Family Business" and only look for funding with the Barflies. 1.5-2.0 million in financing would have let you place an order for at least 5,000 units and would have given you a lot more leverage with the OEM.
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Answer: We *didn't* try to keep this a 'family business'. But what we *did* look into was the process of outside funding. Guess what? We're too small for the V-Caps and too niche-market. And raising the money by selling shares or bonds - weeeeell... That was out of the question as well. That left deep-pocket relatives - of which those of us who *DID* chip in to form NAEB, didn't have. Again. Lot's of Tuesday-Morning quarterbacking. Man, that Barcalounger must be *VERY* comfortable.
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I have no problem with what NAEB is trying to accomplish or their dedication. I do have problems with some of their decisions and the consequences that came out of them.
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Thanks for the 'after-the-horse-has-escaped' barn-door closing. You have a problem with our decisions? Why didn't you join NAEB and offer it earlier?
Derek