Company requires help to survive
Donation protected
Frogplum is a tech start-up. We launched in 2018 and created a steady growth and expansion. We managed to open an office in Kuwait and started selling our Fleet Management solutions there. From 4 employees to 20 employees in one year. Frogplum has contributed well to the economy and country, we helped over 5 Coop students gain real experience in the tech world. Helped newly graduates with jobs and training. We have the vision to help Canada and the economy and we worked hard on that.
My name is Ivan Krstovic and I am the founder and CEO of Frogplum. It is with great sadness I come to this website to ask for help in saving our company. With COVID-19 crisis, we lost all our revenue, invoices are not being paid, and cashflow is drained. I have taken a second mortgage on my apartment, loans and investments from family and friend in the amount of $1,000,000 to build this company. We believe we had a great goal and mission. However, we never expected to be hit this hard.
Today we are in short term debt of $51,000, being threatened to be evicted and penalized with a full amount of lease agreement of $90,000. We had to layoff employees and ask others to take unpaid leave until we can stand on our feet again. Sadly, day by day it is only getting worse.
We require the amount to pay the bills and keep the business running. We cannot afford to declare bankruptcy because of the personal loans I have taken. Things will only be worse if we close down.
If we manage to raise funds before the end of March we will save the location and pay bills to get back to work.
The government handouts aren't enough, and we are not eligible for business loans due to the fact we are a startup.
I am grateful to each and everyone that contributed to help out with this crisis.
Thank you
My name is Ivan Krstovic and I am the founder and CEO of Frogplum. It is with great sadness I come to this website to ask for help in saving our company. With COVID-19 crisis, we lost all our revenue, invoices are not being paid, and cashflow is drained. I have taken a second mortgage on my apartment, loans and investments from family and friend in the amount of $1,000,000 to build this company. We believe we had a great goal and mission. However, we never expected to be hit this hard.
Today we are in short term debt of $51,000, being threatened to be evicted and penalized with a full amount of lease agreement of $90,000. We had to layoff employees and ask others to take unpaid leave until we can stand on our feet again. Sadly, day by day it is only getting worse.
We require the amount to pay the bills and keep the business running. We cannot afford to declare bankruptcy because of the personal loans I have taken. Things will only be worse if we close down.
If we manage to raise funds before the end of March we will save the location and pay bills to get back to work.
The government handouts aren't enough, and we are not eligible for business loans due to the fact we are a startup.
I am grateful to each and everyone that contributed to help out with this crisis.
Thank you
Organizer
Ivan Krstovic
Organizer
Langley, BC
