Urgent Financial Issues [SDW1]
for C4 Employees
Here are some of the issues C4 and its employees are facing that we need to try to assist with if, if at all possible. Another payday will go by tomorrow that we will not make. However if we can do something, it will go a long way. List does not denote priority just items hitting serious unintended consequences.
Chet Poulton [SDW2]– has not been paid since Jan 20th – extremely
patient and understanding however I know he is getting to the last of his
savings. Chet can become critical very soon.
***Jake Graff [SDW3]– Paid up to Feb 20th. Due to the lateness of our checks and 3
months of unemployment prior to his job at C4 he is behind on House payments.
As of tomorrow C4 will owe him 2 paychecks totaling $3100. He needs to make 3
payments by Weds when foreclosure begins on his home. His payment is $3500. He has said that if we can take care of our 2
checks he can handle the rest but he has no other options at this time.
Michael Bailey – Mike has been paid up to Feb 5th. (He was paid Friday for the 5th.) Mike has tuition due Weds, he can come up with most of it but needs a couple hundred to make it. CBC did loan Mike $260 2 weeks ago for rent. The 3 checks owed to Mike (including Mar 20th) total about $2400.
Doug Cannon – Doug has been wise in his financial planning and knows how to handle a start-up. However he has not been paid since Jan 20th and has put several incidental C4 expenses on his consulting firms AMEX Account and 1 large expense, Cold Fusion $8000. His AMEX account is due Mar 20th (tomorrow). He has said that he can get by if we can just take care of Cold Fusion and $650 that is left on his consulting fees from December.
David Scholes – David has received checks up to Feb 5th. David is in a similar situation as Jake with keeping up with house payments and family expenses. Though foreclosure is not near his credit is being knocked, or so he has commented. He is a little upset about the chance of missing the extremely good investment opportunity of purchasing land from his neighbor.
Bills and Utilities – We are getting near 90 days since we last paid our bills and utilities. We are beginning to get shut off notices or final notices.
IRS – We are beginning to get notices from the state and IRS regarding taxes, penalties and fees. With the exception of the Jan 5th payroll Tax payments have not been made. We can negotiate much better terms regarding past taxes if we are paying current withholding.