Collection starts for "Granny Goes To Vegas!"

[GrannyMae]

[ QUOTE ]
Ok, email sent.

There is no mention of how winnings, if any, will be disbursed. Having the money go directly into our True accounts would seem like the best, easiest solution, though, as backers and accounts will be matched up perfectly, thus eliminating the possibility of error that having a variety of disbursement methods might cause.

PS, it is my hope to see footage of Grannie Mae winning a hand with Grannie Mae and standing up and shouting out, no doubt to mystification of most of those around, "Grannie Mae!" That will be well worth the price of admission.

[/ QUOTE ]


hi all,

i just want to make a quick comment on the 'contract' stuff.

following the model that greg had used last year, this is what basically will happen. it worked fine for them, and should do well here.

pre-tournament there is a list that will be constructed that simply identifies all individuals contributions and spells out that each $40 represents x%.

then, all of the people on the list send me an email that simply says
"my name is XXXXX, i have x shares, and i agree that i am responsible for my own taxes. if i live outside the US, i agree that granny will pay my taxes and i will receive the net winnings after the taxes are paid".

that's ALL we need pre-tourney. this list that will be created, these posts etc will clearly define who is in and will serve as a contract to identify all parties.

after the event was over last year, greg's attorney or CPA or whatever, simply contacted each investor and put the action in place for there to be an adjusted w-2 filed.

therefore, WHEN i win, i sign for everything. then we simply have the lawyers create an adjusted w-2 that is filed to represent the partnerships.

this worked well for them, and we will follow the same model. the ONLY other solution is to have 200 (or whatever) individual contracts created prior to the tournament, and that would cost me more than $10k.

so, the list will be public, everyone will email me agreeing in the email that they will pay their own taxes directly or through me, then we sort it out with attorneys afterward.

if this is not acceptable to you, please don't buy a share (ot two).

adjusted w-2's are very common, and if you think i am going to try and deny that all of you own 70% in me, then you don't trust the situation enough to invest. any court would recognize the final list as binding. seperate contracts pre-event are not needed.

i've also got someone checking with greg to see if we can borrow the format of the email he had all the investors send him that agreed they would pay their own taxes.

finally, i heard that top 6 will get over a million this year? wonder if that's true? yes, we are gonna win it all, but there is substantial dollars to be won pretty deep.

bbl