I want to reply to "Caveat Emptor's" post re CSMG, and my involvement with that company. Yes, I was the acting CFO at the time the Company failed, essentially in 2009, when the founder and CEO died. As anyone knows, it takes literally tens of millions of $ to get any medical device past the FDA and into the marketplace. We had a firm commitment to execute an IPO in 2008, which would have provided the funds to move the Company to the next level. As you recall, there were virtually NO IPO's completed in 2008, during the crash. I don't live in Texas (Corp. HQ), and was basically standing in as CFO, in an effort to protect the interest of the shareholders (including me). I took no salary for the last several years I was in that position, and to whomever posted that post, I lost a lot more money than he did in the downfall of CSMG. The technology was, and remains world-class technology, and will surely be exploited by another company in time.
As to the other charge of a multi-million $ lawsuit by another company for fraud. If you read the article completely in the Rochester Bus. Journal, it states at the bottom that the lawsuit was dismissed, 3 weeks after that article was published. The fraud charges were totally bogus, and the details too long to enumerate here, but just say we were never served papers in the case, and paid no funds to the plaintiff. The case was dismissed when the manufacturer paid the investor back basically all of his money invested (about $500K). Our little company put $200K into the venture, and never recovered one dime in the settlement. So don't take as gospel everything you read in a local paper.
