How to make money on Shanghai online

How to make money on Shanghai online

Since that was the case, it meant that there was still a possibility of Li Shi investing!

Indeed, after some consideration, Li Shi said, “I have the intention to invest a sum of money into the Cold-Faced Lady, but...”

Meng Chang was originally very happy when he heard the first half of the sentence. However, when he heard the word ‘but’, he was instantly splashed with cold water.

Li Shi did not finish his sentence immediately. Instead, he kept him in suspense and asked, “Boss Meng, do you have confidence in the Cold-Faced Lady model?”

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Meng Chang nodded. “Of course I’m confident. However... there’s still a chance of failure when it comes to entrepreneurship.”

Li Shi considered for a moment and said, “Xue Zhebin and I can invest eight million yuan into you. However, there is a condition. You have to sign a supplementary agreement: You must personally bear unlimited joint and several liability for the company’s debts.”

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Meng Chang could not help but raise his eyebrows slightly when he heard that.

Unlimited joint and several liability. Any literate primary school student who heard these words would feel a chill down their spine.

The so-called unlimited joint and several liability meant that as the founder, he had to bear the company’s loss of money with his own finances.

Logically speaking, most companies were limited liability companies. Even if Meng Chang messed up the company, it would be nothing more than the company going bankrupt. He would not take on the debt personally.

However, if it was unlimited liability, the company’s debt would be transferred to Meng Chang.

There were many situations like this in the entrepreneurial circle. The founders would often have hundreds of millions of yuan of debt on their backs and become executives because they had signed a valuation adjustment mechanism agreement, share buyback agreement, or taken unlimited liability.

The reason why Meng Chang did not get much investment was because he insisted on not signing any valuation adjustment mechanism agreement or agreeing to share buyback.

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That was because once he signed the agreement, it was very likely that he would end up with a huge debt no matter how much investment he took. The risk was too great for him to bear.

However, Boss Li’s condition was different from other investors’. To be fair, it was obviously much more benevolent.

That was because Boss Li did not request for a valuation adjustment mechanism from Meng Chang, nor did he ask Meng Chang to buy back all his shares in the future and spit out all the investments he had obtained. Instead, he had only asked Meng Chang to bear unlimited liability to the company’s debt.

In other words, Meng Chang would have to pay back the debt that the company owed, but the shares would still rot in the hands of the investors.

Meng Chang fell into deep thought.