There is little sex in this story, it centers on a husband who is focused on his company and almost loses his wife.
I hate JFK on Fridays; it's always congested with people scrambling to get out of town. That's exactly why I contracted a limo service to drive me from my westside NYC apartment each and every Friday at 1:30 to catch the 3:00 direct flight to LAX. A twenty minute ride in the morning is at least an hour or more during rush hour, so I would plan to leave mid day to avoid the traffic. Besides, no respectable investment firm is working on Friday afternoon from Memorial Day to Labor Day weekend.
I am Mark Collins, CEO and Chairman of ComNet, a growing telecom security system provider for the government and local telephone networks. Our headquarters is in Irvine, Ca. So one might ask; why I am I commuting to NYC once a week? Capital. The company needs operating capital for expansion; I am the pitch man to the investors. I average two- three pitches per week to the top investment firms in the city.
It was a pleasant, clear day and the air was fresh from the northerly winds. I relaxed in the back of the limo and I thought about my performance for the week.
Stark capital was hot on doing a deal, they were a boutique firm, with about 15 million to invest, they wanted to take control of the board for their money and go public for liquidity, not surprising but undervalued, you see ComNet was valued on the market based upon last money in at $100M, so to get control for $15M is a sweetheart deal for their investors. This is an investment fund of last resort.
Then there was Capital Corp starring the Prince of Darkness, Harold Gold a distinguished looking man of 45, with thick salt and pepper hair, a runners body and very tanned, he was somewhat abrupt and even more rude, but he was loaded with cash, they had over $150M to invest in network security systems, they knew our technology, so it made my presentation on our projected market share easier to connect the dots. Even though he wore a poker face throughout the presentation, his interest in our technology was unquestionable.
My last meeting was the most interesting, it was with J. D. Withers, one on one in his Park Avenue office, his net worth was one βbillion dollars, he liked the deal, but it was " too small" he seemed truly to be sorry. But, " I have some friends who could take advantage of this, who else have you talked with." I told him about my ventures trying to raise capital; he perked up when he heard Capital Corp.
"Who are you pitching at Capital" he inquired?
"Harold Gold, the man known as the Prince of Darkness, he did not seem to like me much."
My thoughts were interrupted as the limo approached the American Airline Terminal by my cell phone.
"Hello, this is Mark Collins."
"Yes Hello Mr. Collins, we have a package that just arrived for you at the JFK American Airlines terminal, you can pick it up at the Ambassadors club at the front desk". "I am Judy, you can ask for me please."
It seemed strange to me that Claire, my personal assistant, never told me about a package when I called over an hour ago. I wonder what this package is all about. I will find out soon enough I thought.
After going through security, I proceed to check-in at the Ambassador Club, I was in first class, the flight was on time, I asked the clerk if Judy could be paged, she smiled and said. "Good taste, I will get her for you."
As I was waiting for the arrival of the package, I noticed a rather attractive blonde, about 5 feet 6 inches in height, in a black business suit, smiling while approaching me.
"Mr. Collins, I am Judy Smith, an associate in the law firm of Greene, Kaplan, and Stein. Our firm represents the investment firm of Capital Corp International and they would like for you to read their preliminary letter of intent for funding ComNet to the tune of .......$50M in both debt instruments and equity, subject to satisfactorily passing our due diligence questions about ComNet and its key personnel."
"In other words this letter is a notice of intent, therefore it is non- binding until you receive the results of our due diligence is that correct Mrs. Smith?
"Yes, that is correct "she looked concerned.
" So I assume Capital Corp will not have a problem with me continuing to pursue other sources of funding while you are making your decision, is that correct also Mrs. Smith?"
"If you pass the initial preliminary audits on back ground checks and financial statements we will provide a penalty of $500K for not proceeding with funding as specified in our letter of intent."
"Plus our legal and accounting expense of course, isn't that right Mrs. Smith?" I negotiated.
"Ms. Smith, I am not married," she continued, " I am authorized to agree to those terms but there will be a full blown audit, performed by an independent accounting firm of course and we will check your corporation papers, taxes, etc. but our initial request is that you response to our questionnaire about the key personnel in the company. Unless fraud is involved, we will pay the penalty if we recant." She answered.
"How many key employees are on the questionnaire Ms Smith, may I ask? Meanwhile, I heard my flight was being called for last boarding.
"Mr. Collins, it is all explained in the package, Mr. Gold handled it himself "for his eyes only". You can reach me at this number 24 hours a day, it's my company cell phone number, I mean anytime, and I am here to make this deal work. Have a great flight; we look forward to your answers on Monday so we can proceed with a formal offer. Good Bye Mr. Collins."
"Good bye Ms. Smith, I sure we will see each other again."
On the plane, the stewardess had prepared a well drink of Bombay Sapphire gin with green olives, (on the rocks of course), along with some heated pistachio nuts to get me started. I had placed the package into my briefcase which I stowed under my seat for takeoff.
I rang the bell for the stewardess.
"Yes, Mr. Collins how can I help you" with a broad smile.
"I am going to be on the phone with my attorney most of this flight, please respect my need for privacy, so skip the pleasantries and I will pre order my food, and I will ring you when I need refills, deal? I will not be upset if you just leave me alone."
"Sure, I can do that Mr. Collins, here is the menu and I will place your dinner order for you, do want refills when you are finished or when you call me"