welp...thats it

[daved150]

Tweetwell, we had started to talk with some investors for our company. this is the 3rd ones we've talked with. this morning they decided to pass....so, i get to inform my employee's that it's all done and time to go home. still got a couple things to handle around here, but we'll be done even coming here by thur's or so....i got that, heart sinking into my stomach, thing going on...

[quirkysmilin]

Tweet

well, we had started to talk with some investors for our company. this is the 3rd ones we've talked with. this morning they decided to pass....so, i get to inform my employee's that it's all done and time to go home. still got a couple things to handle around here, but we'll be done even coming here by thur's or so....i got that, heart sinking into my stomach, thing going on...

Oh Dave, I'm so sorry.....you tried so hard. My thoughts are with you and your wife.

[O2BESOHUGE]

TweetYOU WILL BOUNCE BACK DAVE...!

[daved150]

Tweetthanks o2...quirk...man, i've been working my ASS off to save this from going down...i'm so fukin tired!! i mean that real beat down, dragged out, bone hurting tired....

[jamescb77]

Tweetdamn bro that sucks to hear im sorry man. maybe something will turn up between now and then. if not you are a smart guy you will bounce back for sure. if i can help in anyway shoot me a pm bro

[Klash]

TweetThat sucks Dave....guys like you Dave don't get taken down you just change directions...good luck bro!!

[dixiechick]

TweetThat's such a tough thing to do... you and your family are still in my prayers. I keep praying that something good will come your way.

[straydoglogic]

Tweeta bump in the road brother...
im sorry you had to do it..but you'll be aiight...be strong holmes..

[daved150]

Tweetthanks guys...

[trip]

Tweetlike a death, grieving will take place

in no time though, you'll be past this and in a better place for you and your family

good lucky

[956Vette]

TweetBest of luck to you D. Things will turn around

[daved150]

Tweetthanks guys...i'm sure your right trip. i was pretty bumbed after the ford dealer i worked for closed and i got over that...this just seemed to "for sure", ya know? how could this NOT work...ohhhhh..if the nation goes into a tailspin over subprime motgages and the banks decide to raise the critera to the fukin moon...thats ONE way!!! (also...just for shyts and giggles, lets run diesel fuel up to 5$+ a gal!! that'll help fuk them up!!)

[Dzone]

Tweetawwww shit Dave im sorry to hear that! You will have opportunities open up for you that you may not have seen. Let me know if you need anything, or just to vent. If I was a still a drinker Id meet you at the bar tonight...hang in there buddy

[3Vandoo]

Tweetcan I know what is your business and what is up......

[daved150]

Tweet

can I know what is your business and what is up......

long story...it's a truck driver training school with job placement. about 90% of my income is derived from student being able to pull loans. (one prob). when they get the loan, i get a percent of face value of contract as an advance (30%-50% of 5995). if they go over 60days past due in any of the first 4 payments, i get charged back for the advance amount. we counted on industry standard of 30-35% charge back rate...it's been climbing the whole year and is currently at 52%...so, for everyone i train, they just payback the charge back for another student. the lenders also tightened up on criteria (something thats starting to loosen back up a little already, but it 's too late for us) and put an end to my operating cash flow!!! fuel going stupid this summer, coupled with the fact that the lenders wouldnt let us bump up the contract amount, didnt help at all. trucks breaking down also did some damage to us....we're just a victom of bad timing. as the contracts mature (about a yr) they start paying you on the other 40-60% (reserve checks). those can be 20-30k a month...becouse of charge backs going so high, we never got our account up to the necc. amount to start recieving the reserve checks...those makes the diff.