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Re: threewheeler post# 3530

Tuesday, 09/29/2015 12:18:24 PM

Tuesday, September 29, 2015 12:18:24 PM

Post# of 6613
This is basically a defunct company with an unproven product.

The company owes Ricker a couple hundred thousand dollars (estimated, according to what I've read in filings) and Ricker as a non employee has also written himself into product royalties should any sales materialize.

Point being, this wouldn't be as attractive to a buyer as you might think.

Also, the STS could be built in someone's garage in a week or two. There is no justification for the amount of time or costs associated with this product.

The real question that should be asked is where $7+ million dollars went under Rickers watch. This company had millions of dollars in project commitments/orders and no product deliveries or sales. There are a lot of questions that need answers including his latest statements regarding no shortage of customers.

If someone were to buy this company they better have deep pockets because there likely would be lawsuits coming.
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