Rate my equiptment

Want to shoot my own ultra low budget films. Here is a list of equiptment that I am considering:

I own:
JVC GYHM100U
G5 W/ FCP

EQUIPTMENT I AM THINKING ABOUT PURCHASING:

(LIGHTS)
1. LOWEL DP3 LIGHTING KIT
2. WORKLIGHTS

(SOUND)
1. NTG- 2 OR 3 SHOTGUN KIT
2. ENG-44 FIELD MIXER
3. ZOOM H4N

(B CAM)
1. GH1 W/ KIT LENS
2. LETUS 35MM ADAPTER FOR GYHM100U W/ NIKKOR 28MM F2.8 LENS

(SOFTWARE)
MAGIC BULLET LOOKS

MY GOAL:

IS TO MAKE ULTRA LOW BUDGET MOVIES THAT I CAN SELL ON THE STREET AND SHOW TO INVESTORS. IDEALLY, I HOPE TO RAISE ENOUGH MONEY TO EITHER GET A BETTER CAMERA (EX3 OR HPX500) OR GET FINANCED TO SHOOT A BIGGER BUDGET MOVIE.

IF I GET A BETTER CAMERA:
I WILL SHOOT MY SCRIPTS AND SHOW THEM TO INVESTORS, IN HOPES OF THEM TO FINANCE A "FILM-OUT".

IN CONCLUSION:

Please give me your open honest opinion. If you believe their are flaws in my plan of attack, let me know. I trying to figure out the best way to work my way up the ladder, realistically.
 
It depends on what you're planning to shoot, but I'd probably rather have just the one camera and buy another mic as Alcove said, and then spend the remainder on more lighting equipment or perhaps a dolly or crane. In most cases the audience will never know how many cameras you shot it on, and I think a second camera is probably not the best investment in terms of added production value.
 
I would also recommend that you look into renting. Or even buy everything except the camera and digital audio recorder and rent those. The digital technology portion of you kit will be out of date six to eighteen months from now.
 
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