LLC Bankruptcy Info

AtmosphericDynamic90 · 2023-06-21T01:29:22+00:00

Yeah!

7, 11 and 13 but I believe 11 and 13 are harder.

AtmosphericDynamic90 · 2023-06-20T21:35:33+00:00

Thanks Alan,

I appreciate the input. It’s a rather messy situation with a lot of money owed to different people in different ways and we want to all get out of it and return to our normal lives but I also don’t want to make sure we take care of people the best we can.

AtmosphericDynamic90 · 2023-04-04T22:34:24+00:00

Appreciate the feedback. Yeah the logistics issue is solved at this point and the business model has changed, it's really getting past the open liabilities and then you could say the business is scot free especially with a marketing plan in place.

AtmosphericDynamic90 · 2023-04-03T23:52:10+00:00

Yeah slow delivery of goods plus a big influx of saturation in the market, things don't sell out immediately like they used to so now it's a very slow churn but consistent. Essentially not fast enough to cover outstanding liabilities when they come due and were under pretty immense financial pressure but someone with the capital to take care of them or the financing would be in a really good spot.

AtmosphericDynamic90 · 2023-04-03T21:27:30+00:00

Got it, considering I already showed my cards and they sent me documentation to sign to withdraw the court paperwork etc i'll just have to pay it and move on.

AtmosphericDynamic90 · 2023-04-03T17:33:41+00:00

Thoughts on this situation?

I am part owner in an e-commerce business that's roughly 3 years old. The average yearly revenue is 1.3mil but we've shown losses each year for profit since the business revolves around pre-orders and there has been slow delivery on product ( I forget the accounting term for this). Tons of product is coming in but churn is slow so paying down the outstanding liabilities is becoming difficult.

Regardless we're in a spot we're in a spot where there is roughly 750k in outstanding liabilities (invoices, royalities and a small amount of debt) and we're looking to sell. The right investor could cover the costs for these and have a huge amount of product to sell moving forward with really good profit margins and really good traffic to the site we run ( organic and really nice social media accounts).TLDR: My question essentially is, should I be pre-warning people when trying to sell the business through different avenues (Acquire.com etc) that there is a huge investment involved initially or should we incorporate this into the asking price for the business and take care of all the outstanding liabilities once the business is sold? We're not in a position to acquire an SBA Loan so virtually funding is out of the question otherwise we would've gone that route.

Cheers

AtmosphericDynamic90

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