Question: did the organizer have collateral each time they tried organizing the event?
Everything that has been mentioned thus so far has been good but I think someone said this already. They did/didn't account for overhead and sunk it all into assets?
So did this person have insurance/collateral? Kind of obvious that they didn't... For $150 and a large group like this... They were taking a huge risk knowing that if it flops he has nothing to fall back on.
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