We may not get enough users on our application for it to succeed. Therefore, we may have to shut down the business entirely.
Users may not subscribe to premium (pay) features which may lower our profits. This would hinder our runway and possibly close the business sooner than expected.
User may not appreciate the application enough to use the application often enough and our application may not get enough traction. This would severely hinder our business and likely end our work on Perchance.
We may not get advertising on our application which slows our growth and lowers our revenue/projections/runway.
A massive influx of users could slow down our server. This would cause a delay in our business.
Death, severe illness, or critical injury to David Gottesmann, Josh Baker, or Eduardo Assola could occur. This could create a disruption in company leadership that would be difficult to recover from.
Our application might need to pivot which would slow down our growth for a period of time. This could slow down our business for an extended period of time.
After our initial runway, if we do not succeed in obtaining enough revenue or a second round of funding, we might not be able to expand to other markets which would be burdensome for our company. This event could hinder our business to the point where we would have to shut down.
Severe economic downturn could slow growth of user acquisition, and/or make it challenging to raise additional venture/growth capital as the company progresses.
Failure to attract competent talent (Developers, sales, management, etc.) to execute of the plans of the company could hinder our business in the future.
Malicious internal attack by disgruntled employee(s) on our operations or software could put us into a position that would be very difficult to recover from.
Extremely competitive and well funded competitor(s) enters market and undermines Perchance's value and user base. A threat like this could come from existing large incumbent players, or other known or unknown early stage competitors.
Unforeseen and aggressive regulatory laws effecting the connecting of people using GPS capabilities (or other integral parts of the dynamic of our application) could harm the industry in a material way that makes the business no longer viable.
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
Perchance is currently an S Corp. The company must convert to a C Corp prior to completing this fundraise.
Eduardo Assola is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.
Dave Gottesmann is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.
Josh Baker is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.