James O’Leary & Ansar Khan:

Refulgent Software

GROUP - 10
JAMES O'LEARY AND ANSAR KHAN
 About Case
• O’Leary & Khan are confounders of Refulgent Software

• The company develops Point-of-sale software, called Ambur, for restaurants.

• To keep their set up costs down, they ran their business out of their apartment ad set up their company using LegalZoom.

• They incorporate in August of 2010 & started selling the product in April 2011. Few hundred dollars in expanses in 2010 & no revenue.

•They didn’t realized that they had to file a tax return for 2010, they didn’t end up until late 2011.

•After receiving a letter from the IRS stating that they owned about $10,000 in fines for not filing a return in 2010. And they are luckily,
they were able to talk to them and fine was waived.
•After that O’Leary & Khan figured out pretty much on their own and avoided any major mistakes.

•Then they create a Refulgent software and grew quickly, within the first year, it grew to 400 customers and earned six-figure revenues.
What is Refulgent Software?
Thank You