1000 Shares Proposal

Posted on March 20, 2013

Description:

After only two days of participation in Nike+ Accelerator powered by TechStars, we're confident that the shareholders have invested our time wisely. We're making great strides in developing our product and learning the skills needed to pitch it successfully. Morale is high.

One daunting aspect of this project is the limitation of the funding provided. We'd like to deliver a product of the highest quality; it has become clear that to do so will cost more than the $20,000 invested by TechStars. Our vision of the end product requires design and development beyond our current means. Conversations with K5M shareholders have led to an innovative proposal.

We propose that KmikeyM grant 1000 shares to be sold on the market for the purpose of additional funding. In exchange, all our personal future profits from the project will be returned to KmikeyM funds. The shares granted will be sold from an account that will not participate in voting.

The selling of shares provides us with the ability to create the best product possible and increase potential upside. TechStars prides itself on its ability to train companies for future success; we can think of no better opportunity than placing the potential return on our future successes in the hands of the shareholders.