Most companies tend to start a business with some savings, money they’ve accumulated in the bank, credit card debt, vendor credit terms, some advances from friends and family, and occasionally 401(k) or self-directed IRA distributions. It is rare for a start-up to use a PPM or, said differently, Offering Documents, unless it is the type of start-up that you read about in the newspaper, such as a technology play or something of that nature. There is no real rule of thumb that we can offer, but generally speaking, if the amount of start-up capital is less than $250,000 and the individuals that are putting up the money tend to be the entrepreneur or the entrepreneur’s friends and family, a PPM is probably not required. When you start upping the ante from there, the discussion starts getting more interesting.