From Jay Babcock:
One year ago I ran up my credit cards and borrowed money from friends and family in order to buy out my ex-partner in Arthur. Since then I have maxed out my personal and business credit cards to service that debt and to start up publication of Arthur again. We have worked very hard with very little resources: some of us could afford to work pro bono, others could afford to work at well below market, still others couldn’t afford to work for Arthur but did it anyway.
Still, we have bills to pay, and debt to service. Starting up again costs money. And my credit cards are now maxed out.
On the heels of lower than expected ad sales (although they are trending up), increased production and distribution costs (higher quality printing and paper, higher fuel costs, increased printrun), and an “under-performing non-magazine product” (the Living Theatre dvd, for which we’ve sold less than 25% of the printrun since launch, received zero reviews or notices, etc), spiraling debt service payments (now $2k a month) on startup costs, and most importantly ZERO NEW BACKERS… we’ve finally reached the point where
WE HAVE NO MORE MONEY.
If we don’t obtain at least $20k in the next six days, ARTHUR is done. Our long-term prospects are good, if we are fortunate enough to make it through this rough patch.
Please help. No donation is too small.
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