an eco-clothing company managed by the people who wear it
September 05, 2008
FAQ
- Can anyone become an nvohk member?
- How long are the memberships?
- Will members own the Company?
- What decisions will members be involved in making?
- Are members the sole governing body for the Company?
- Will members be liable for the Company's financial or other obligations?
- Can the Company be sold?
- What will be done with all the membership money?
- What will the Company do with all of its profits?
- Can anyone become an nvohk member?
Anyone that is 13 years old or older can become an nvohk member. We welcome anyone with creativity, vision and an interest in shaping a new company and/or a desire to improve our environment.
- How many members will nvohk recruit?
nvohk membership will be limited to 40,000 members. However, when 400 plus members have joined and paid their membership fees, the Company will begin operations.
- Will there be an age restriction on members?
You must be at least 13 years old to join.
- How many members will nvohk recruit?
- How long are the memberships?
nvohk will offer an annual membership for $50. If members wish to continue participating in nvohk beyond their first year, they must renew their membership by paying their $50 annual fee. However, members are under no obligation to participate in nvohk for any specific length of time.
- How do I terminate my membership?
Memberships will automatically terminate if the annual membership fee is not paid. This fee will not be prorated for members who participate in nvohk for less than a twelve month period.
- Are membership fees refundable?
Membership fees are not refundable nor will they be prorated for members who participate in nvohk for less than a twelve month period. In the event that less than 400 members activate and pay their membership by August 15, 2008, nvohk will donate all membership revenue collected less associated payment processing fees (e.g., credit card processing fees) to an environmental charity (e.g., Surfrider Foundation, NRDC, etc.) on behalf of its members.
- How do I terminate my membership?
- Will members own the Company?
Unfortunately, no. Due to prohibitive costs associated with SEC regulations and filings, nvohk can not be owned by it's members. However, nvohk members will have a meaningful impact on the operation and development of the Company but will not have an ownership or equity stake in it.
- What tangible benefits can members expect?
Once 400 plus members have joined and paid the annual membership fee, they will receive an exclusive nvohk t-shirt. In addition, members will receive reward points based on the Company's profitability. These reward points (like airline miles, but you can actually use them) can be used to purchase nvohk product!Members get 25% off all nvohk products purchased from nvohk.com.
Aside from these tangible benefits, members will have the satisfaction of knowing that they are providing considerable and meaningful support to leading environmental organizations.
Basically, you can get free products, 25% off any products you buy and the privilege of participating in developing and managing a new eco-friendly clothing company.
- Who will own the Company, if not the members?
nvohk, inc. is a closely held private company.
- What tangible benefits can members expect?
- What decisions will members be involved in making?
Members will decide on logo design, product design, product mix, advertising and sponsorships among others. In short, members will have a meaningful impact on the development of the nvohk brand.
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- Are members the sole governing body for the Company?
Members will play a significant role in the development and operation of nvohk. However, as with any successful enterprise there must be checks and balances. To this end, nvohk's board of directors will hire an experienced management team to lead project management, operations, marketing, and financial management decisions.
- Will members have any recourse against the governing body and management if the Company is unprofitable or otherwise unsuccessful?
No. Nvohk's members and management will form a partnership that will ultimately drive the Company's success. Consequently, recourse against one group or the other would be inappropriate.
- Will members have any recourse against the governing body and management if the Company is unprofitable or otherwise unsuccessful?
- Will members be liable for the Company's financial or other obligations?
No. Members will never be held liable for any of nvohk's obligations, financial or otherwise.
- Can members be held liable for decisions detrimental to the Company?
No. However, the structure of the nvohk membership provides a compelling incentive for members to make sound decisions that are in the best interests of the Company.
- Can members be held liable for decisions detrimental to the Company?
- Can the Company be sold?
Although this is technically a possibility it is probably unlikely. Community involvement, the very element that will make nvohk a success, would be a tough pill to swallow for most if not all major Corporations.
- Who will make the decision to sell the Company?
Should an appropriate opportunity to sell present itself, the board of directors will make the final decision.
- What happens to our membership in the event the Company is sold?
Because the membership is in essence the Company, it is unlikely that any new ownership would significantly change the structure or operation of the nvohk. However, it will ultimately be up to the new ownership to decide how to run the Company.
- Who will make the decision to sell the Company?
- What will be done with all the membership money?
Money collected from membership fees will provide the capital necessary to launch and operate nvohk. Even in profitability, this money will be integral in funding activities such as marketing and product development.
- When will the membership fees be collected?
Prior to launch, membership fees will be collected once 3,000 future members have joined. Once nvohk begins operations, the renewal fees will be collected on the member's anniversary of joining the nvohk team while new members will pay their fees upon joining nvohk.
- When will the membership fees be collected?
- What will the Company do with all of its profits?
35% of nvohk's net profits will be distributed to the Company's member base in the form of reward points (like airline miles on a 1 to 1 ratio of dollars to points) redeemable for nvohk product. In addition, 10% of its net profit will be donated to environmental organizations chosen by nvohk's members. The remaining profits will be reinvested in nvohk.
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