What should I do when my investors only finance one third of the agreed upon cash and say they are out of funds even though we have a signed agreement?
I entered into an agreement for a software project with two other guys who agreed in writing to finance the project for a certain amount. They have sent one third of the money and say they have no more now. What should I do? I have committed my company's resources to this project and was counting on that funding.
Talk to an attorney about this. This is serious, and requires legal advice from a professional. Expect to pay for a few hours of counsel. They'll have to look at the documentation and know a lot more in detail about your situation, promises made, obligations, legal recourse, etc.
Creating a MAP will take no more than an hour of your time every month and will keep the lines of communication open, ensuring relationships with investors remain strong, and ultimately helping early-stage startups succeed.