Oh, Mark, you are so bright on this one - yes, the "Angel" does take a financial interest in owning the companies. We were committed to be seen by senior management and then, they stopped looking at deals, we didn`t even get looked at, but we did have them do the business valuation - We turned down, what I knew was a bad offer (but still money) at $500K for 50% of Client Keeper and 100% of the online rights with us receiving a 50% profit royalty. The offer is so full of flags but it was real and we turned it down on the advice of the Frihet representative because our valution shows that $500K represents 7% of the company and patent and licensing potential today, but if they would not have encouraged us, we would have taken the offer been on our way to marketing our product offerings the right way three months ago.
Now, we sit, no money from Frihet, the individual termed and no $500K or bridge loan or business lines etc. Really a tough lesson. I plan on finding a personal conversation with their owner - very soon.....