We’re raising investment dollars for the Piscataquis Village Project through a crowd funding, “Kickstarter” model, where we garner serious and sincere, but non-legally binding investment pledges, which are only payable when and if the Project receives the total dollars in pledges we think are sufficient to break ground on the Project.
This method eliminates the risk of investors putting money into a project that may not be sufficiently capitalized and also gives investors time to raise their funds. Our estimate for the total needed to initiate the Project is $2,000,000. These funds will be used for the acquisition of a site, fees for regulatory approvals, and infrastructure for the initial phase of development. The estimate for Project costs may change as things progress, but no funds will be payable unless investment pledges are sufficient.
The minimum investment pledge is $10,000. As we near our total investment goal, we will ask for an earnest money deposit of 10% of the pledge which would be deposited into an escrow account in order to ascertain the seriousness of our pledges. How long it will take for us to reach our goal is impossible predict, though we think the pace of our pledges will continue to accelerate as the reputation of our Project grows. No money will be collected without legally binding contracts in place.