Vontrader, as I said earlier I think the marketing budget is...

Vontrader, as I said earlier I think the marketing budget is insufficient. It's well short for a start up marketing campaign with 2 target customer segments. Ie just look at social media. $70k includes advertising budget. So unless this is inhouse which I assume it's not as it would be expensed under wages, not social media. I am guessing since the product is still in dev mode they haven't done a Social media strategy or a social media plan. There is like $3-5k right there if they were to use a private contractor, but more like $5-10k with a marketing agency. So no strategy/ plan means they haven't selected which social media platforms they need to use to engage their target markets. Facebook, Twitter, Instagram, YouTube, LinkedIn, etc. To engage 2 customer segments on multiple channels across multiple social media platforms you are looking at most likely $10-20k a month if it more. Then their is content strategy that drives this. Most likely another $3-5k per month to create quality content. No quality content means no customer interest. On top of this you have paid advertising through social media. This part is value for money, but only if done correctly. To do this correctly takes months 6-12 months. There is a lot of trial and error, constantly refining your campaign until it's income producing. IE you can't just blindly put an ad out. You have to do some testing. Select 3 heading titles, 3 images, 3 call to actions using the same emotive intentions for the campaign, and mix and match. Test the response of each, until you have the best heading, with the best image, with the best call to acation. To do this properly may take 6-12 months, and a large sample size will have to be used.

Anyway back to my point. I have read through the prospectus and I think the marketing budget is significantly understated.
Imo dyor