The Peoples Air Force.
- 2,500 shares.
- Each share sold for $100US.
- Limit of one share per person per month, twelve per year.
- Shares can only be sold back to corporation for redistribution.
- The initial shares will be to fund the acquisition, restoration and maintenance of an aircraft.
- The acquired aircraft must be a minimum of a two-seater.
-- Aircraft must be airworthy or airworthy within a short period.
- Prefered aircraft would be a large twin (ie C-47, C-7 Caribou, etc...)
- Any and all profits from operation of aircraft will go to maintaining the aircraft and if sufficient funds avaiable to acquisition of additional aircraft.
- Share denote ownership of initial aircraft and any aircraft acquired due to profits off first aircraft.
- Additional sets of shares might be issued to acquire additional aircraft.
-- These shares would denote ownership only of aircraft acquire with funds raised through these shares.
- A board of directors will be voted up and defined.
-- How many members? (Should be odd number)
-- How long do they serve?
-- Do they get a stipend?
-- When/Where should they meet.
- Financial newsletter will be published quarterly.
- All finances should be open and accessable for revue.
-- All expenses will be listed and accountable.
- Web site will be created to support information dissemination.
- All major decisions will be made by shareholder vote.
- Only individuals can purchase shares, no companies.
- Find a lawyer (preferably a warbird enthusiast).
- Find an accountant (preferably a warbird enthusiast).
- Find out step to incorporate.
- Figure out banking information.
- Create and issue shares.
-- Shares will be serial numbered and registered.
- Decide which aircraft to acquire.
-- What are the aircraft's operating cost?
- Decide where the aircraft should be located.
-- Where will it be hangered?
-- What sort of maintenance facilities are available?
-- Should the aircraft spend time in various bases?
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