Letter Of Intent To Purchase Shares: Fill & Download for Free

I'm sure you are pretty embarrassed at this point, and if not, you should be.1. Don't rent space, use a co-working space like hacker dojo and save money or alternatively, look for someone to let you use an office for free, etc. They are out there, I should know, because I'm using one myself.2. For the first 12 months or until you have revenue, you cannot/must not try and take market value salaries. Divide the salaries you have by 3. That's your budget.3. You must use SaaS type services, you are not allowed to invest into your own infrastructure yet. $1K per month to Amazon or someone like them is more than enough. In fact, you should be hustling to get free server space initially.4. Reduce your engineering team for version 1.0 (mvp) to 2-3. In fact, don't you dare try to support 3 different platforms at once. Do it for ONE platform to get to market first.5. You need 1-2 full time sales/business development out there lining up partners/customers for your product. You must task them with raising at least $1M in business in the form of at least a letter of intent until you have your product ready to show, then a real purchase order. If you can't pre-sell your product/service and get at the very least a non-binding letter of intent, you need to really rethink what the hell you are doing.6. As the CEO, you must do a share across all functional areas and you must also continue to build relationships for future funding based on real milestones being accomplished.You need to raise enough funds to last 6+6:6 months for minimal viable product development and building sales pipeline6 months for continued dev, sales and fundraising for next 12-24 depending how far you are along with revenue and relevant tractionYou will either raise another seed round, series A, continue based on revenue, or close shop.Your startup seed round is now around $500-600K which is way more achievable, scrappy, and realistic.Once you have entered the market, kicked some real ass, then you can ask for real money and blow up.Baby steps.Anyone disagree?

Does Huawei have a plan to develop and use its own chips in order to stay afloat?Huawei is still proposing various countermeasures, rather than just wait and die!Huawei has launched a new project code-named "Nanniwan", which aims to circumvent products that contain American technology while accelerating its notebook and smart screen business. It will release new MateBook notebooks in the middle of this month, and neither of them contains American technology.Huawei has invested huge resources in chip design in the past, but unfortunately, it did not engage in chip manufacturing. What Huawei is currently doing is to quickly fill up the chip manufacturing class, including breakthroughs in EDA design, semiconductor materials, manufacturing processes, packaging and testing, etc. This is actually building a de-American chip manufacturing production line. Recently, Huawei's recruitment of lithography process engineers confirmed this fact.At present, the resolution of the Chinese mass-produced domestic lithography machines can reach up to 90nm, and 28nm upgrade products are still on the way. Therefore, Huawei’s supplementary lessons in chip manufacturing are more of a strategic layout. Once the Chinese domestic lithography machines are available, Huawei can guarantee the rapid production of high-end chips.Huawei HiSilicon may have some adjustments, from the design of high-end chips to the main design of low-end chips, in order to reduce the complexity of chip design to match the low-tech manufacturing requirements, from the past to meet the high-end products such as mobile phones and servers to Mainly satisfy smart home products. Chips that make home appliances smart has low process requirements and cost only a few yuan. The world's largest home appliance manufacturing country is China. Therefore, the Chinese market alone contains considerable opportunities. The actual situation is that not only domestic home appliance manufacturers are cooperating with Huawei, but foreign home appliance manufacturers such as Siemens and Panasonic are also cooperating with Huawei on home appliance intelligence.Huawei has signed a letter of intent for cooperation with MediaTek and placed a large order for the purchase of more than 120 million chips. If Huawei’s estimated single-year shipment of mobile phones is about 180 million units, MediaTek’s market share will exceed 60%, far better than Qualcomm.Huawei has no plans to give up self-research. Huawei will take root in all directions and break through the bottlenecks of basic research and precision manufacturing in physics and materials science. In terms of terminal devices, Huawei is vigorously increasing its investment in materials and core technologies, achieving close linkage of new materials with new processes, and achieving breakthrough innovations.Huawei is planning to tap and reserve talents in various fields in colleges and universities, trying to help chip autonomy and the growth of the artificial intelligence industry through the integration of production, education and research.When the time is right, Huawei will surely be like Phoenix Nirvana, soaring 90,000 miles.

I wouldn't hazard to offer tax advice on a public forum, but there is usually a way to do a just-in-time founder stock issuance before a funding event.A letter of intent is an offer, it's not a contract. You could always turn it down. You haven't seen the contract from the accelerator (presumably), nothing is ascertained.Depending on the accelerator, entering the program may not create a formal valuation event. Many offer no cash, or a limited stipend, in exchange for a lot of common stock at an extremely low valuation, with the big money coming later and separately via a side fund. Even if you did have to recognize an increased stock price, you might be able to have founders purchase shares with their contribution of intellectual property and argue that there was no gain at issuance (each founder's basis in their own IP is a matter between them and the IRS, and not something the IRS would typically be in a position to question).Either way, better stop delaying and get that stock issued ASAP. Even if you mess up the vesting and stock purchase terms, you can usually go back and fix that with a lawyer's help.One last thought. If this is a well-established large accelerator like YC, TechStars, 500 Startups, etc., they probably deal with this question often, you might just want to ask them how their companies deal with last minute stock issuance.