As mentioned in the previous post, Pace Ellsworth Sets the Record Straight, the family has a relationship are the beneficiaries of a crowd-sourced cryptocurrency fundraising effort at Capistan.com. The managers released this press release regarding the family’s Blessed Little Grooming Company startup.
BLESSED LITTLE GROOMING COMPANY
Contact: PACE ELLSWORTH
May 8, 2015
Capistan was founded for the sole purpose of uniting well qualified entrepreneurs with sound business plans and would be investors who operate in the crypto-currency sphere.
On May 6, 2015, Capistan beneficiary Nicole Naugler, was arrested on multiple charges in Breckinridge County, KY. As of the date of this release, the Blessed Little Grooming Company project, with a goal of $20,000, was funded 108%.
We understand that she was released from jail within 18 hours, however she and her husband were required to relinquish custody of their 10 children.
The vetting process used to select a project for fundraising includes typical lean startup metrics (i.e. customer validation, model pivoting, pro forma analysis) as well as relationship-based, interpersonal scrutiny. Where the former is rigid and objective, the latter is fluid and subjective.
Capistan proposed the Blessed Little Grooming Company project. The predictive financials were and are sound. However, the primary driver for this project was the fact that Nicole Naugler is the entrepreneur. We chose to invest in Nicole because of her industriousness and uncompromising intention to lift her family out of their indigent circumstances to a brighter tomorrow. Her drive to save her family from their current financial and legal circumstances, mixed with her outstanding customer validation history, confirm that we made the correct decision.
Capistan will continue to fund and manage the Blessed Little Grooming company project. Nicole Naugler started with less than most. She is laser focused on her goal, and she is persecuted because of the indigence of her circumstances. She is exactly the kind of person in whom Capistan was designed to invest. The Naugler’s circumstances may adversely affect the project’s deployment timeline. We will reevaluate the needs of the family and inform all who have pledged of any impacts to the schedule.