[ExI] Important question - need your advice

[Stirling Westrup]

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Gina Miller wrote:
> Hello everyone, I have some questions that I thought some of you might be able to answer. Okay if I am set up as a company (that can't change either), and I am beginning a project that I will need money to create, (but hopefully later will make sales) what are my legal ways of obtaining money to get the project started. Is it legal to get funding from individuals and other groups if I am a company, or is that only for non profits? Do you guys know what my options are or how I can go about getting money to start a project that is under a registered company? I am not being 'hired' but the content of my project may be of interest to people, companies, and non profits that are close to me. That's why I had been thinking I could ask, but I don't know if as a company that is possible, is there a way? Any advice and information would be greatly appreciated. 
> 
My experiences are Canadian, so your laws may well differ. When I (and a few
others) started up Strategy First many years ago, we went to everyone we could
think of that might be interested and asked them to invest some minor amount
($25 - $1000, basically whatever we thought we could get). Since we weren't
even incorporated yet, just registered, we wrote receipts that said it was a
loan to the company. We used that money to pay for phone calls and
correspondence with bigger investors. (This wasn't my department, so I'm a bit
vague on how we did it.) When we had secured sufficient money, we hired a
lawyer that set up a share system, and then we offered all our creditors the
option of being repaid in shares. Since they had been told this was the plan
when first approached, they all agreed.

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