From Ace Monster Toys Wiki
We are currently exploring obtaining a Laser Cutter. They are awesome because they cut things with lasers. The downside is they cost money. The idea currently being considered is a small group of people fund the laser cutter purchase, and put it into the space. Anyone can use it, but must pay a small fee. The fee will be divided among the funders, until their investment is paid off. After that perhaps fee would be lowered, money going toward AMT.
I have started a comparison chart, where we can list the different models under consideration.
These are people who have pledged to donate towards the initial purchase.
- $200 - Hephaestus
- $1000 - Chriszf (Plus perhaps another $1000 in a couple months)
- $1500 - albill
- $500 - sam atman (end of march)
- $500 - Mike G
- $600 - John N
- $1465 - David R
- $500 - Cliff
- $655 - Stefan
Total pledged: $6920
(This is a work in progress)
I, _______________, agree to lend $_____ to ________________ (hereafter known as the Operator) for the purpose of purchasing a Laser Cutter to be located at Ace Monster Toys.
I agree that my only form of repayment for this loan will come from fees collected from users operating the laser cutter, after any maintenance expenses are deducted.
The repayments will be divided among all people who have lent money for this purchase, proportional to the amount they have lent against the total cost. Repayments will be on a quarterly basis.
I understand that I will receive a significantly reduced rate for using the Laser Cutter until I am paid back. This reduced rate will be applied directly against my initial loan, instead of being divided among the rest of the lenders. Thus until my loan is repaid, no money will need to change hands for my usage of the Laser Cutter.
I understand that the Operator will have full responsibility of managing the Laser Cutter, though he may choose to delegate this. The initial fee will be set at $1/min for the general public, $0.50/min for Ace Monster Toys members, and $0.25/min for the reduced rate, but this can be changed in the future if usage is too low or too high. The Operator agrees to try and manage it such that the loans are paid back in as reasonable amount of time as possible.
If more money is collected than needed for the initial purpose, it will be held for one quarter to cover maintenance or upgrade costs, and then re-payed along with the normal schedule as above.
If due to some unforeseen circumstance the Laser Cutter must be liquidated before the loan is paid back, all lenders will receive a proportion of the proceeds of the liquidation, equal to the proportion of their loaned amount to the initial Laser Cutter cost.
Once my loan is fully repaid, I understand that the Laser Cutter ownership will be transferred to Ace Monster Toys, with the exact manner of transfer to be determined at a later date (donation, sell for $0.01, etc, whatever makes the most sense for all involved).