Review and restate simple contract for $25,000 loan with repayment terms taken from notes provided

Yes.

12% interest amoratized over the time I use the money.

Paid back to you in equal amounts matching anything I take out for my self.

All expenditures approved until full amount returned.

Estimation of complete ROI, six months.

I suggested that as I pay you off, that the interest stay on the full amount. So 1% per month. So the likely return will be a total of $1,500 if I wait the entire time to pay you back, but you will have received much of the money back already, assuming that I am paying myself as we go along.

My plan is to spend about 75% of my time on this project.

At the end of this period, and you are paid in full, you will maintain a 10% stake in whatever developed from this project. This project coming under the heading of Kiev Academy Art Supplies. It would not apply to anything generated from a potential art show in Kiev or things related to Martin Ricks Fine Art LLC.

We should have Mark Strong set up a new LLC for KAAS (Kiev Academy Art Supplies)

I assume that Ill need additional capital for the growth but may be able finance it by a combination of banking and a credit line from Ukraine, something they have already alluded to.

Questions of suggestions, lets take this to a lawyer and have him draw up papers based on this as the basis for doin business.

Thanks
About the recuiter
Member since Aug 31, 2017
Aaron D.
from Auckland, New Zealand

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