Bruce Worrall discloses the terms of Intellisphere's convertible note offering during an interview with Nathan Latka.
0:00 / 0:05exact quote · 5.5s
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“If we're doing a convertible note, we're doing a, you know, seven or fifty thousand, six million dollar cap.”
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More from Bruce Worrall
Opinion
Worrall: Intellisphere platform would cost $20M to $30M to build
“We built a massive platform you couldn't build out for, you know, less than 20, thirty million dollars.”
Bruce WorrallApr 19, 2020▶ 8:011730 Burning $45k/mo With $80k in ARR, Why Is He Raising? Product is not proven!
AssertionNot checkable as stated
Worrall: Intellisphere is burning about $45,000 per month
“Well, our burn today, without Since the number of people haven't been paid for quite a while, about five, about 45,000 dollars a month.”
Bruce WorrallApr 19, 2020▶ 6:451730 Burning $45k/mo With $80k in ARR, Why Is He Raising? Product is not proven!
AssertionNot checkable as stated
Worrall: Intellisphere pays roughly $500 per month per offshore worker
“We probably pay depending on the head. On average, maybe about 500 dollars a head, so, which they would normally charge 4000 dollars a head, so we're paying, you know, one-sixth, one-eighth. The offshore rate we've been doing that for many years because, again…”
Bruce WorrallApr 19, 2020▶ 7:281730 Burning $45k/mo With $80k in ARR, Why Is He Raising? Product is not proven!
AssertionNot checkable as stated
Intellisphere finds Facebook ads more cost-effective than long-tail Google
“We've found Facebook to be a little bit more effective, cost effective than the Google long tail.”
Bruce WorrallApr 19, 2020▶ 4:271730 Burning $45k/mo With $80k in ARR, Why Is He Raising? Product is not proven!
AssertionNot checkable as stated
Worrall: Intellisphere generated over $100K in total revenue in 2019
“In 2019, we did a, you know, a little over a 100,000 dollars in total.”
Bruce WorrallApr 19, 2020▶ 5:361730 Burning $45k/mo With $80k in ARR, Why Is He Raising? Product is not proven!
Disclosure
Intellisphere customers currently pay an average of $49 monthly
“They pay anywhere from, well, right now they're paying 49 dollars a month.”
Bruce WorrallApr 19, 2020▶ 2:381730 Burning $45k/mo With $80k in ARR, Why Is He Raising? Product is not proven!
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