ALOHA

I started a wearable company and have brought on three other people: CEO, CTO, CHO, & CMO. We have the design and patent. We were selected for an accelerator.

Now I want to bring on a CFO. Is it ethical or even legal to accept a nominal fee of $17.5k to allow a CFO to join us?

  • iamaredditboy@alien.topB
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    10 months ago

    Money in has to exchanged for some financial instrument. He can’t just bring in money into thin air. Are you giving him equity in return? If so discuss that and the valuation with your cfo and make sure he is ok with it. Get legal documents prepared and signed. If you are trying to get him to put some money and thinking you don’t have to give up anything you are clueless about how this works. Also looks like you have too many fancy titles you are bringing in - all this looks ready to go down and go nowhere. Plus you asking this question as well….I would steer clear of anything to do with this company….sorry to burst your bubble….