> > I don't think divulging the details of IBPhoenix's current accounts
> > on a public list is probably a good idea, but upto date accounts
> > have always been filed with Companies House in the UK, so if
> > somebody really wanted to see them, they could get them.
>
> Of course I do this. You file balance sheets only. For the financial
> year ended June 2004 the equity was GBP 25K, euro 37K in real money.
> If the company were valued at intrinsic, 100% would be 37K, so
> investors would have to pay euro 375 per percent shareholding. I
> think a lot of people can afford that.

> Sounds like a sustainable setup, with room to auto-finance normal
> growth. So either the above is not correct, or Paul has a specific
> plan in mind.

Your figures though interesting do not reflect reality...

P&L
2001 2002 2003 2004
Turnover 21,884 61,684 58,789 124,289
Cost of Sales - (1,433) (5) -
Grosss Profit 21,884 60,251 58,784 124,289
Administrive Expenses (29,669) (53,276) (54,004) (103,807)
Operating Profit (7,785) 6,975 4,780 20,442
Interest receivable - - 25 204
Profit before tax (7,785) 6,975 4,805 20,646
Tax on profit - - - -
Profit for Financial Year (7,785) 6,975 4,805 20,646

Accounts for 2005 are in preperation, as I am legally obliged to do.
Currently, the following work for IBPhoenix in a variety of ways, or are paid
monthly for work done, Paul Reeves, Dimitrios, Helen, Paul Beach, Pavel Cisar,
and Ann Harrision +/- (Jim Starkey), Philippe Makowski may be joining us.

I would like to get some more people on board, to help with
a, finding new things we could sell, improving our support expertise
and infrastructure and organising the conference. As well as
bespoke development etc etc however our current mechanism of organic
growh will not allow this. As we are running about right in terms of
revenues v's expenses.

As Paul points out we are not VC attractive, so angel investment would
be required to take us to the next step. In terms of an integrated Firebird
stack, the thought has crossed my mind... although to make it work would
require some serious effort and thought. Soemthing we don't have the
bandwidth for yet. However providing suitable integrated development solutions
for Firebird and maintaining them in a managed way, would I think benefit
not only developers but companies using and deploying the software.

More feedback required :-)

Regards
Paul