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The purchase order is from a builder. Builders in India reinvest any and all their money into multiple parallel projects and have little liquidity to entertain
by erbdex 11y ago
The purchase order is from a builder. Builders in India reinvest any and all their money into multiple parallel projects and have little liquidity to entertain advance payments. In fact, they're notorious for withholding payments even after availing the services. The reason banks aren't giving us a quick loan.
- danieltillett 11y agoThis suggests that you are going to need more than $500,000 as you wait around for payment. Given you are almost dead and if don't have any options then go to your buyer and say to them unless you pay now there will never be a product. Maybe offer them some period of exclusivity in return for paying now.
- erbdex 11y agoThis sounds good. Since we're product based- we don't really lose much even if we sell the first batch to them at [cost price + salary expenses]. We'd have done an iteration, would have a breathing space and traction even if no cash flow.