Inspired Builders, Inc. just filed a prospectus, suggesting it plans to soon issue some securities

Inspired Builders, Inc. just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:

USE OF PROCEEDS

Our offering is being made in a direct public offering without the involvement of underwriters or broker-dealers. We intend to disburse the proceeds from this offering in the priority set forth below within the first 12 months after successful completion of this offering.

Not taking into account any possible additional funding or revenues, we intend to use the proceeds from this offering as follows. The following chart indicates the a pproximate amount of funds that we will allocate to each item, but does not indicate the total fee/cost of each item. The amount of proceeds we allocate to each item is dependent upon the amount of proceeds we receive from this offering:

If we sell all of the Shares being offered, our net proceeds will be $1,000,000. If the Offering is fully subscribed, the proceeds will be applied in the manner described below. If less than the full numbers of shares are subscribed, the proceeds will be applied in the order of priority listed. If we are only to receive between $0 and $250,000, we would need to amend our business plan. The following table sets forth a breakdown of the estimated use of the net proceeds as we currently expect to use them, assuming the sale of 100%, 75%, 50% and 25% of the Shares offered for sale in this offering:

The above figures represent only estimated costs. As indicated in the table above, if we sell only 75%, or 50%, or 25% of the Shares offered for sale in this offering, we would expect to use the resulting net proceeds for the same purposes as we would use the net proceeds from a sale of 100% of the Shares, and in approximately the same proportions. However, the lower our net proceeds, the less we would expect to use the funds in the expenditure categories.

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(1)      Capital Purchases — This may include but is not limited to purchase of office and administrative equipment such as computers, computer monitors, laptops,  and cell phones.

(2)      Contractors — This may include but is not limited to contractor services for business services, sales representatives, technical support staff, mining professionals, engineers, and administrative staff.

(3)      General & Administrative — This may include, but is not be limited to rent, insurance, internet, office equipment, office supplies, postage, subscriptions, overnight delivery services, telephone, utilities, web hosting.

(4)      Research & Development — This may include, but is not limited to, identifying potential properties, joint ventures, partnerships, etc.

(5)      Salaries and Consulting Expense — We anticipate meeting all staffing need through a combination of outside third-party service providers (contractors) and salaried employees. Some of our officers and directors are employed outside of the Company and will only be able to devote a limited amount of time to the development of our business unless this Offering is successful. The allocation of funds for salaries and consulting expense is for new-hires and filling part and full time positions necessary to expand the Company operations. Our officers and directors do not make a salary and no use of proceeds from this offering will be used to pay any salary to them. At 25% of the proceeds we estimate it will be able to accommodate up to 0 employees; at 50% of the proceeds we will be able to accommodate up to 1-3 part time employees and at 75-100% of the proceeds we estimate we can accommodate a staff of up 1-3 part time employees.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Inspired Builders: Gkin) Announces Opening Of The Tepa Gold Mine - July 14, 2022

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