If you don't need the money, and he has nothing to offer in terms of contacts, what good will come of it? You'll be giving up 0.1% of your company, and more imp

If you don't need the money, and he has nothing to offer in terms of contacts, what good will come of it? You'll be giving up 0.1% of your company, and more importantly, telling any potential future investors that you are worth over $1,000,000. I think this will make it more difficult when a potential angel investor comes along with a serious investment offer and plenty of contacts.