Chapter 289 How did an honest man go bankrupt
However, after venting, Long Jiumei's mood calmed down a bit.
She raised her sleeves to wipe the sweat, and combed her hair with her fingers. Then she grabbed her son's hand again, clenched it hard, and stared into Du Caige's eyes: "You must kill him! You must kill him! He killed your damn old man, and he killed me too!"
From Long Jiumei's mouth, Du Caige finally learned the whole story.
Coupled with some information he has learned from other channels, it is almost possible to form a complete puzzle.
He finally understood how an honest man like Du Zhiqiu was trapped in a cage and went bankrupt step by step.
Originally in 2005, Shen Jinsong came back from the Xingtiao Kingdom and planned to start a business. He said that he would build a folk music platform to promote folk music and encourage artists to create folk music.
As a professor of the Folk Music Department of the Modu Conservatory of Music, Du Zhiqiu naturally supports the idea of his lover. He took out most of the family's savings, more than 1 million yuan, and started a company with his lover Shen Jinsong.
At that time it seemed to be 45% of the shares.
Shen Jinsong also invested 1 million yuan, plus technology shares, accounting for 55% of the shares.
The company has made a decent appearance. Although the sparrow is small and complete, it took two months to put up a shelf and start making products.
But making a music platform is very expensive.
It doesn't matter if it's petty.
If you want to make it bigger, you may not even hear a sound if 2 million is thrown in.
It’s just made a prototype, and it hasn’t started to burn money for promotion, and the company has no money.
Du Zhiqiu didn't plan to invest any money, after all, he still wanted to keep some coffin books.
As a result, Shen Jinsong came to visit a few times, and he said, "Your son is very rich, ask him to borrow some money".
But at that time Du Caige was at a low point, and Du Zhiqiu didn't want to take money from his son.
So he gritted his teeth, took out the last bit of savings in the family, mortgaged the house, and put in another 3 million.
And Shen Jinsong also behaved very well and increased Du Zhiqiu's shares.
After investing the 3 million, Du Zhiqiu holds 75% of the shares and Shen Jinsong holds 25%.
With the funds of 3 million, the folk music platform "52 Folk Music" will be ready soon, and then start to promote.
This time is the end of 2005.
Du Zhiqiu also looked at the various data reported by Shen Jinsong. Although the money was gone, he was very relieved.
He deeply felt that he had made a great contribution to the promotion of folk music, obtained great spiritual satisfaction, and felt that this life was worth it.
But Long Jiumei was not happy.
What is spiritual satisfaction, can you eat it?
Can it be used on the face to maintain the skin?
Can you wear it to show off?
Because of this, she quarreled with Du Zhiqiu a lot.
Then he found Shen Jinsong privately and asked to sell the shares to Shen Jinsong.
Shen Jinsong said with a smile, I have no money to buy it, but the platform is doing well now, and some people are willing to buy shares in the company.
Mr. Du invested 4 million and got 75% of the company's shares.
I don't dare to withdraw all his shares, he will scold me to death, otherwise, you will sell 40% of the shares, I will help you negotiate the price, and strive to make the other party pay more than 2.4 million.
Long Jiumei also went to university anyway. Although she is a college student, she still has basic mathematics.
As soon as she summed it up, she found out that it still made money, of course she was very happy.
4 million in exchange for 75% of the shares, equivalent to 53,000 per share.
But if you sell 40% of the shares for 2.4 million, it is equivalent to selling 60,000 per share.
higher than bank interest rates.
So she happily sold 40% of the company's shares and got back 2.7 million, making a small profit.
He also constantly praised Shen Jinsong as a good boy who knew how to honor his teachers and teachers.
Of course, this matter could not be concealed from Du Zhiqiu for a long time.
After Du Zhiqiu found out, although he was a little unhappy, he couldn't lose his temper.
It is estimated that he also thinks that it is good to get back some coffin books.
But at this moment, he discovered two things.
First, the "52 Folk Music" platform has reduced the promotion of folk music. It could even be said to have reversed direction.
Second, the company's valuation is constantly rising, and the valuation has reached more than 60 million.
The remaining 35% of his shares are already worth more than ten million yuan.
This time, is the first half of 2006.
Long Jiumei deeply regretted that the shares were sold too early.
Du Zhiqiu, on the other hand, was thinking about how to get the 52 folk music platform back to its original intention, continue to promote folk music, and protect and support folk music creators.
But he has lost control.
Controlling rights are in the hands of others. Shen Jinsong also said that he could not help.
"Teacher, I also sold a part of the shares. Now my shares and yours together are less than 45%, and the absolute control is in the hands of others. I am just a wage earner now."
"If we want the 52 platform to continue to operate in the way we envisioned, we can only buy some shares back, and we will regain absolute control."
But I have no money! Du Zhiqiu said.
You can borrow it, teacher. Your son is so rich.
I don't want to use my son's money.
You can also borrow it from others. The company appreciates quickly, and you can earn it back immediately. It is absolutely not a loss.
Shen Jinsong is very good at persuasion.
Du Zhiqiu was persuaded.
Of course, it is more because of his dream - to protect and develop folk music.
Now the company's valuation has reached more than 60 million.
Du Zhiqiu must buy at least 6% of the shares in order to join forces with Shen Jinsong to achieve absolute control.
That would require around $3.8 million.
Also need to borrow 1.1 million.
Shen Jinsong introduced a company called "Easy Loan" to Du Zhiqiu, "I know the boss of this company, his surname is Qiu, he is a good person. Ask him to borrow money, don't worry."
So Du Zhiqiu borrowed 1.1 million from Yidai Company.
Made up 3.8 million and repurchased 6% of the company's shares.
He and Shen Jinsong's shares can once again achieve absolute control, allowing the 52 folk music platform to continue to be the light of hope for folk music.
Du Zhiqiu was very satisfied.
But at this time Shen Jinsong told him that the company was out of money.
How can there be no money? Isn't it worth more than 60 million? Du Zhiqiu didn't understand.
Shen Jinsong gave him popular science. Valuation doesn't mean the company really has that much money.
The company's liquidity is actually what you put into it.
Subsequent shares were bought and sold, but the company's liquidity did not grow.
The company is still in the stage of burning money. Only by continuing to burn money and seize market share can the valuation continue to rise.
In the future, the valuation will be several hundred million, or even more than ten billion. If you sell any shares, you can recover tens of millions, teacher.
Du Zhiqiu doesn't care about money.
Long Jiumei's eyes lit up.
But Du Zhiqiu didn't want to invest any more money.
He has borrowed 1.1 million yuan from Yidai Company, and he has never owed that much money in his life.
As an honest man, he felt uncomfortable when he owed money and couldn't sleep.
Shen Jinsong said: Teacher, you don't want to make additional investment, I understand. But the company really can't open the pot. If you don't continue to invest, you can only face bankruptcy.
How can a company with a good valuation of 60 million go bankrupt? Du Zhiqiu didn't understand.
Shen Jinsong gave him some popular science and explained it in detail.
Finally, Shen Jinsong said: The company must raise funds. Either the existing shareholders will invest more, or new shareholders will be introduced, or they will face bankruptcy.
And if you don't invest money, your shares will be diluted and you will lose absolute control again.
But I really have no money. Du Zhiqiu said. I don't want to borrow any more.
But you can afford it, teacher.
Borrow a few million to invest in the company. As long as you survive this period, the company's valuation will soon exceed 100 million. When you sell a little more shares, you can repay the money.
In the end, Du Zhiqiu was persuaded.
Another 2 million yuan was borrowed from Yidai and invested in the company.
And Long Jiumei also got in touch with Shen Jinsong in private.
The wild rise in the company's valuation made her jealous.
She wants to buy some company shares.
"Man, when you're old, you need money. The more money, the better. Everything else is unreliable. Only money is real. Xiao Shen, help your wife."
"No problem, Mistress, I'm not going to help you." Shen Jinsong smiled arrogantly.
He took Long Jiumei to Lao Qiu of Yidai, and asked Long Jiumei to borrow money to buy shares in the company.
But Old Qiu was stern and refused to lend Long Jiumei money.
"She's my wife, you can lend it to her."
"That won't work. She doesn't have anything to mortgage. What if she has a bad debt."
In the end, Lao Qiu proposed to let Long Jiumei borrow money in the name of Du Zhiqiu.
Long Jiumei stole Du Zhiqiu's seal and let him do it.
She borrowed two loans, one of 840,000 yuan and one of 1.2 million yuan, for a total of 2.04 million yuan.
She watched the money transfer to Du Zhiqiu's account, and then to another person's account, and then she herself got 4% of the company's shares.
Shen Jinsong told her that after a year, the company's valuation will reach 500 million, and the 4% stake will be worth 20 million, a tenfold increase.
Long Jiumei would wake up laughing from a dream.
This time, it was the summer of 2006.
The nightmare started a month later.
The once amiable old Qiu suddenly came to the door one day and fiercely demanded Du Zhiqiu to pay back the money.
Am I not making repayments every month as agreed? Du Zhiqiu asked in confusion.
He took out the pension and repaid part of the principal and interest every month, which was agreed long ago.
But you owe me 49.79 million yuan, and you only pay back a few thousand yuan every month, and the interest is not enough. Lao Qiu said.
Du Zhiqiu felt that the other party was crazy. When did I owe you 49.79 million? I only borrowed money from you 2 times in total, one time for 1.1 million and one for 2 million, for a total of 3.1 million.
Your wife also borrowed money from us twice, totaling 2.04 million.
Du Zhiqiu looked at Long Jiumei.
Long Jiumei lowered her head in shame, then glared back viciously. The old lady wants to make some money, can't it! If you have the ability, you can make money for the old lady!
Du Zhiqiu did not argue with her in front of outsiders.
Well, even adding my wife's loan, it's only 5.14 million. Why do you say I owe 49.79 million? Du Zhiqiu asked.
You later lent me 13 more loans one after another, and now you owe me a total of 49.79 million.
Long Jiumei knew that her husband was not such a person.
Is it wrong? she says.
That's right, every transaction is clear and there is a record of the flow of funds.
Lao Qiu showed evidence.
Evidence shows that Du Zhiqiu borrowed from Yidai 17 times in total (including 2.04 million that Long Jiumei borrowed in two instalments in Du Zhiqiu's name).
As for the inexplicably extra 13 loans, all of them used Du Zhiqiu's seal, and the whereabouts of the funds were also very clear.
They all went to Du Zhiqiu and Shen Jinsong's company.
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