Reliance on Key Personnel. ATC has exclusive responsibility for trading Commodity Interests for the Fund. ATC depends on the services of a limited number of key persons. If they cannot or will not provide those services, it could adversely affect ATC’s ability to trade for the Fund. If this occurs, the Fund and/or the Sponsor may terminate the contract with ATC.
Reliance on Key Personnel. Lorilei's operations are dependent on the efforts, experience and relationships of Gerald R. Cunningham, Leigh A. Cunningham and Lorilei's other essential staff. Furthermore, Lorilei will likely be dependent on the senior management of any businesses acquired in the future. If any of these individuals become unable to continue in their role Lorilei's business or prospects could be adversely affected. Although Lorilei has entered into an employment agreement with each of Lorilei's executive officers, there can be no assurance that such individuals will continue in their present capacity for any particular period of time. Reliance on FCC Rules. Lorilei utilizes FCC rules mandated by Section 612 of the Communications Act in order to gain access to cable systems. If these rules are repealed or modified by Congress, or in the event the FCC drastically alters its rules on leased access, these events could have a material adverse effect on Lorilei's business, financial condition and results of operations. Control of Existing Management Pursuant to the terms of the reorganization agreement between Lorilei and the Registrant, Lorilei's current management will have the right to elect a majority of the members of its board of directors for the foreseeable future, unless Lorilei fails to attain at least 70% of its EBITDA projections. Such requirement may prevent or delay AmeriNet from taking actions to correct problems with Lorilei's management and such inability may materially impair Lorilei's operations. Item 504. Use of Proceeds Set forth below is Lorilei's anticipated use of the cash available to Lorilei after deduction of estimated remaining offering expenses of $12,500. Pursuant to the Reorganization Agreement, Lorilei would receive $487,500 of net proceeds from this reorganization after deduction of the expenses of the reorganization. The net proceeds of this offering will be used: To pay existing accounts receivable and personal property and real estate taxes.; To repair existing equipment and purchase new equipment To employ additional support staff To pay advertising and marketing costs, and To provide working capital. The amounts and timing of expenditures for each purpose is subject to the broad discretion of the management and will depend on factors such as the amount of net proceeds available to Lorilei and the effects of competition, many of which are beyond Lorilei's control. Accounts Payable and Taxes $198,854.00 Equipment 8,000.00 Salaries 30,646.00 ...
Reliance on Key Personnel. Our success depends to a large extent on the efforts of Txx Xxxx, Ip. There is no assurance that she will not voluntarily terminate her employment with ALTB. The loss of any of our key personnel could be detrimental to our ongoing operations. Our success will also depend on our ability to attract and retain qualified personnel in order to manage our existing operations as well as our future growth.
Reliance on Key Personnel. The Company’s success is, and will continue to be, substantially dependent upon the continued services of its current management. The inability or unwillingness of existing management to continue to operate in their respective capacities would materially and adversely affect the Company’s operating results and the ability of the Company to manage its operations.
Reliance on Key Personnel. The operations of the Company will be largely dependent upon the personal efforts of key personnel. There is no guarantee that the Company will be able to identify, attract, motivate, train and retain highly skilled managerial, financial, technical, business development, sales and marketing and other personnel. Competition for these employees is intense.
Reliance on Key Personnel. The co-op will hire numerous employees to operate the business under the direction of the board of directors. Our ability to hire and retain qualified personnel depends on many factors, some of which the board can control and some of which they cannot. There is an inherent risk that we will not be able to attract and maintain enough qualified staff to competently operate the business. It is also possible that to hire and retain qualified personnel, HVC will need to spend more money than is budgeted for, resulting in lack of profitability. As of this writing, there is no plan in place for what HVC would do in the event of the loss of key personnel due to death, disability, or employees quitting and any of these events could result in losses in revenues. Among the personnel we will need to rely on will be some personnel who exercise significant responsibilities in their day to day duties and the co-op will need to rely on these key personnel to exercise good judgment and serve the co-op's interests. It is possible that key personnel may mismanage the co-op's resources, resulting in losses and liabilities for the co-op that would negatively impact the co-ops ability to pay investors.
