2 ms·
Sadly, this question cannot be answered based on this information. When you say "pivoting to something completely different," are you going to be using IP deve
by siegel 9y ago
Sadly, this question cannot be answered based on this information.
When you say "pivoting to something completely different," are you going to be using IP developed as part of the current company? If so, starting a new company will be very difficult.
And the note holders don't want their money back, most likely. I mean, if you dissolve, they'll have no choice but to take it. But they were investing to get equity down the road. Query how you raised $2M and apparently haven't spent any of it. How long ago did you enter into these notes? I would have to imagine it was pretty recent. And you didn't know about the pivot then? That's possible, of course. But it's a concern the noteholders may have.
There are lots of strategies to move forward. But it's pretty fact specific. I think fab1an's advice is really the best.