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<DIV>In a message dated 6/22/2004 2:33:09 AM Eastern Standard Time, delirium@hackish.org writes:</DIV>
<BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: blue 2px solid"><FONT face=Arial>Erik Moeller wrote:<BR><BR>>Face-to-face meetings are much more productive than IRC simply because <BR>>real human interaction has a much higher bandwidth than letters in a <BR>>window on a computer screen. </FONT></BLOCKQUOTE></DIV>
<DIV>I completely agree with this. In fact, I will suggest that a breakdown of how the money we have will be used is probably very important at this stage. I suggest something along the following lines:</DIV>
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<DIV>60% --- servers and hardware</DIV>
<DIV>20% --- bounties for software development (let's face it, there are certain things we need, and we can't just wait for people to develop them)</DIV>
<DIV>10% --- incrementals, to include this board meeting and other outstanding expenses, for instance, as people begin to fill positions, they should be issued with business cards so that they can meet with others professionally. This is especially important for fundraising purposes. You have to invest money if you want to make money. This will also cover postage, letterhead, and, of course, board meetings. Of course, this should also be limited to a set portion of the budget and not exceed that. It can also be used for salaries for lawyers, accountant, etc. if the need be. </DIV>
<DIV>10% --- Emergency use. This should be locked in a high-interest account at three-month intervals. It can serve as a back-up reserve just in case. The sum should be augmented regularly, but the interest would be split between the various projects. </DIV>
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<DIV>This is only a preliminary sketch of how money might be allocated. While it prioritizes hardware, it recognizes that there are other expenses that should be covered if we are to grow. </DIV>
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<DIV>Assuming we have about $25,000, it should cover start-up costs. </DIV>
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<DIV>I also want to pledge to donate a certain amount each month, provided an arrangement can be made to take it directly from my bank account at regular intervals. I hope others will be willing to do the same. This sum can be part of the steady income that we will also require. Fund-raising drives are great, but we also need to know that every month a certain amount is coming in dependably.</DIV>
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<DIV>Danny</DIV></BODY></HTML>