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Dorm99.com has burned through nearly all of its initial $200,000 funding round and obtained a convertible bridge loan to continue operations. According to an unaudited financial statement from September 2006, Dorm99.com had cash outflows of over $178,000 USD for the period. The bridge loan carries 8% interest and must be paid back in full by December 31, 2007 if not converted to equity in the next funding round. Dorm99.com has the technology resources to support up to 2 million users, having spent $67,000 o

Author

Raisul Islam

Language

EN