I was talking to a guy in Florida that I know. He has this Shipwreck project he is working on, and he was rambling on about raising money to help him. I kind of felt sorry for him. I have been where he was,many times.
The world of treasure hunting and gold can posses people. It has me and many other people. But the fact remains that treasure hunting can be funded and successful if they step back from the enthusiasm of the project, and operate on a rational level.
Treasure Hunting is a business as well as a passion. If you can be grounded on the numbers and the research, your enthusiasm will sell the project.
Anyway this guy and another guy were trying to raise money in $20-$100 per person. I simply could not understand why the were trying to raise such a small amount of money from like 500 people. It just seemed like a waist of time when they could have asked for $2-$5,000 from each person. I would not have invested and money with these 2 people because they are lost in a dream and not organized.
They had no plans and there research was weak. They also had no idea on how much is needed for treasure recovery or even how much money they needed at all. They had no planning so there is little to no chance of them being successful.
Just because you think you know where a treasure is does not mean you have any idea on how to pinpoint and recover it. That takes money...Lots of it.
For an underwater pin pointing and recovery takes time and money. The fact is they were looking for about $6,000 total from 500 people. There is no way this is enough money for their projects. Also getting 20 bucks from 500 people is going to be a huge problem.
It would be so much easier to find 5 people who want to invest $2,000. They would have fewer people to deal with and $10,000, that is 4 thousand dollars more than they would have got at $20 from 500 people.
They are disorganized and trying to get money from the wrong people. There are people who have thousands of dollars lying around just looking for the right way to invest it. They can be sold the dream if your numbers and organization is sound.
I just do not understand some people.
1 comment:
Eric,
Raising money for a treasure hunting project can also be very illegal if it is not done correctly. In most cases a treasure hunting company has to file with the SEC and develop a professional ppm to present to potential investors if the company wants to raise funds via investors. The cost to create the proper legal documents by an attorney or legal firm that specializes in SEC law will run at least $10,000.00. It took our company almost a month alone just to complete this process, but it is well worth it to insure we are doing things legally correct, and that our Investors have all the documentation and information they need to make an educated decision on investing.
Anyone interested in investing in treasure hunting should only deal with companies that have done it the right way. This should be your first test before you invest in a treasure hunting project with any company. The potential investor will most likely have to be accredited as well to invest.
There are a lot of good treasure hunting companies out there that are doing it right. There are also a lot that are not. Investors should always be aware and make sure to do their homework before investing. I hope this helps you and anyone who is looking into investing in treasure hunting. Good luck to you and all of your readers.
Sincerely,
Jeff Moore
Co-Founder
International Marine Recovery
Post a Comment