RipStar’s quarterly statement First Quarter 2020.
Highlight- Business is registered in SF CA as of April 4, 2020.
· Secured one $300 investor before terminating the crowd sourcing approach. That investor will maintain a $300 investment annually for as long as he wishes in exchange for 5% lifetime stake in RipStar. A painting will be delivered in the amount of the investment as a gift.
· Since then, a new investor contract was drafted with a range of investment options starting at $15,000 and going up to $120,000 providing up to 75% of profits to the investor in the event they select the highest option. This resulted after being instructed that even a low million dollar hit on a single track if sold to a larger talent (or we grow one) could easily recoup this singular investment. Having been approached several times about tracks already, I'm confident we will be OK regardless. The only reason money is needed at this point is to lift quality and speed productions- putting talent to work including professional vendors for everything we need to complete.
· One donor contributed + $30. and said we should get onto Patreon ASAP
· Two shirts sold in April so far. +$8
· $150 was paid to Dan Medina against his recent contract, leaving a balance owed by RipStar at $600 and $50 a month payments against 3 songs for 2020 was started bring his total contract to - $1000 covering 5 tracks he has produced.
· -$10 thumb drive - to back-up books and past tracks. Also using clouds for now as well.
· -$30 drums
This leaves RipStar’s balance at fiscal -$1,262 including the $300 secured investment, with zero fiscal ongoing debt obligations or other costs at this time.
· One Sponsor Magisto confirmed for 30 days through 5/15/20. Total past years sponsor contributions in services estimated $10,200 with Charityfocus being largest $7,200, Next being Eastwood Guitars $700. 16 Sponsor targets identified for 2020. Total estimated value $20,000 in products and services.
· Two flyers made for song purchasing and shirt announcements.
· www.ripstar.cfsites updated.
· FB page started to orientate 35+ volunteers. Orientating over next 30 days to activate each one.
· Past publishing and poetry book being updated to streamline onboarding future artists and prioritizing tracks to make or re-work.
· Land for use in outdoor festivals has been offered by Tobi Hero.
· Services offered by a number of volunteers needs to be coordinated.
· Extensive and detailed business plan needs to be updated. The plan calls for making over 5 Million viewers up from past 1M total all media combined (last 20 years). The plan is also concerned with strategies to move passive audiences into active participants, volunteers, buyers or donors to grow revenues from past averages $2,000 a year into the neighborhood of $50,000 a year profits or more. In the past, Ripstar’s model made venues 5x Ripstar’s take home. The new model aims to focus less on venues and more on employing artists and creating exceptional art products (shirts) and music we can license or sell to loyal fans.
· Press releases have not been formulated to reignite Ripstar’s global engines. We are awaiting the organization of the 100 songs and the next releases we will feature in that 5 year promotions push.
Any questions, please send them to Robert Jackson, Owner email@example.com