501 LLC

EASY RIDERS

CHEAP
FAST
FLEXIBLE
SAFE
TAX TRICKS
FINITE LIFE
INFINITE SCOPE

Malcomb Forbes rode a Harley. Richard Branson is Peter Pan. Warren Buffett - Chief Elf, North Pole?
Ted Turner? Ya gotta laugh at such ungainly wisdom.
If Joe Firmage can inspire investment, so can you!

They each exemplify the breed of Maverick CEO we seek to play "Patron" for a few months. You must be A Rebel With A Cause, who wants to see how many ways our deux ex machina can Activate and Market any Cause you currently support - and how Our Cause already supports yours:

Our Cause: Music Speaks Louder Than Words
Our Target: Women... and The Men Who Love Them

PROJECT 501
Just You and Me. Patron and Artist. Gambler and Prototype. No IPOs. No Legal Battalions. Not "til Death Do Us Part". Project 501 will be one privately-held LLC with a finite lifespan - during which it might spawn dozens of intrapreneural LLCs. If you are not having fun, you can ask for your money back after we...

build [one] liveCaster Studio
use Studio to produce [one] fogBound TV Pilot
launch [one] Mobile Grassroots Platform, and
craft [one] Internet Research Portal

CHANNEL 501


In short, an LLC (Limited Liability Company) is not a Corporation. It is a business entity with a finite lifespan, closely related in form and function to the centuries-old British "Ltd." and Germany's "GmbH". If you are not yet familiar with this business instrument, please study the information provided via the links below --- because this is the only way you will be invited to invest in any M-SPAN Virtual Venture. An LLC combines the best aspects of Incorporation with all the tax advantages of Partnership... without the red tape of either. LLC(s) ensure "most favorable" tax positions and superb mutual liability treatment -- vital protections when dealing with Entertainment or innovation. This combination of benefits has never before existed in America in such a simple, flexible, and cost-effective form. Still largely unknown in our Financial communities, the LLC is now recognized as a legal instrument by the IRS and 47 of the 50 States.
Key Features TAXES The 1976 Tax Reform destroyed Limited Partnerships for Creative Risk. That is why the Independent Film movement died. Today, the LLC restores and improves an Investor's Tax benefits and Liability protections. 75% of Hollywood's own 1998 films were each LLC productions. TASKING We endorse the ShowBiz Metaphor for all Creative Risk. But making Movies is about 10th on our list. Each LLC can have as broad or narrow a Mandate as we desire, without Government interventions. COSTS About $3,500 each. Zero Red Tape with minimal document filings. done in a week. Compare to $35,000 SCORs and $500,000 IPOs that take 8-12 months to ramp up. In a life at the speed Of 'net, only LLCs make sense for any start-up in any Industry. LIMITED LIFESPAN Evolving technologies will continue to shape marketplaces in so many new ways, it is foolish to predict five years out. Our LLCs all come with a 2-3 year cutoff - by then, you close shop, put it in turnaround to recoup, or break it up into a nest of new task-targeted, time-limited LLCs.
LLC Overview: What is an LLC? LLC Tax Advantages (summary) Compare Lawyer's simple summary of Advantages see also: Hollywood Accounting Practices (favorite buzzword: "bulletproof") FOR ENTREPRENEURS - The Lowe.Org Learning Environment for Entrepreneurs Shrewd & Savvy - Why Do It In Another State (Nevada) MyCorporation.Com (50-State DO-IT-YOURSELF Services)
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