Urgent Decision Needed

Hi Mr Di Yang,

We have met with our immigration counsel about the options for your investment. We need to know from you if you are wanting to make a capital contribution to keep both locations open. We believe the capital contribution needed would be $100,000 to $126,000.

The second option would be to sell one location, then use the capital from the sale to fund the break even of the best location. You have two locations Plaza and Jamacha. We have a buyer and would be able to sell Jamacha for an estimated $75,000 - $100,000. This transaction can happen quickly. In doing this we would reopen Plaza. Plaza is the stronger and more established location. It has the best customer count and has only been closed for 8 days. We would then focus on getting that location to break even and once it is at break even we would work on the job count. The final focus would be on rebuilding the value of the investment. We feel confident we can get the 10 full time employees with 1 location. In doing this, the lease liability would be transferred to the new owner so you would not incur that liability. The negative effect of this would be the value of the investment at the end of the contract.

We have been getting I-526 approvals and RFE's for investors who invested in the same time as you so we expect notification on your file any day now.

Our attorney reviewed your business plan, materials and file. They do not feel this is a material change because the business is the same, the job creation is for the entity not the specific location, the funds were spent on listed expenditures are compliant with the business plan. Our legal team tried to find any way this would be negatively impacted with the filing and at the conclusion they felt that they are even more confident that this will not effect the filing of the I526, or the I829. They reviewed the documentation on the project and indicated that nothing in the documentation forbids this type of action. Since the funds from the business sale are not being used as a refund but rather on the listed expenditures they feel strongly that this is approvable and have advised us as such. They also said that because you are 100% owner there is no confusion about the job creating entity either.

They do want us to create a business plan addendum and submit it to the USCIS providing the updated information if you chose to take this path.

We need to act quickly so we need a decision from you on which path you want to take as soon as possible.

Please let us know what your decision is. Thank you.

Sabrina

Comments (2)

  1. Sabrina Wall :

    Had conference call with Di Yang. He approved the sale of the assets of Jamacha and reopening Plaza.

  2. Sabrina Wall :

    From Di Yang’s email to Sabrina Wall

    Hi Sabrina Wall,

    I confirm to sell the lower performing location and reopen the better performing location.

    Thanks,

    Di Yang

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