Are balance sheets or profit and loss statements necessary to produce for early stage startups with no revenue?
Posted by David S. Rose on February 6th, 2014
Investors absolutely need to know the specific financial status of a company before they invest, because they are going to be part owners of the business. How much would you be willing pay someone to take over their bank account if you had no idea how much was in it?
So yes, it is absolutely standard practice for investors to require both existing financials
