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Friday, December 20, 2024 1:22:46 PM
In October, 2024, the Texas Comptroller’s office placed a hold on Red Gear’s Chase and GECU bank accounts. As of November 15, 2024, the amount of the hold is $234,378.22. This hold is due to a sales audit conducted by the Texas Comptroller’s office from November, 2019 through April, 2023, which is prior to ReachOut Technology’s acquisition of Red Gear’s in October, 2023. Additionally, the last extension to the audit was signed by the previous owners of Red Gear on September 8, 2023, less than a month prior to closing the transaction. This audit was not disclosed in the purchase agreement and violated the Representations and Warranties made by the sellers. This matter has been added to ReachOut’s lawsuit filed against the previous owners.
A sure sign that the debate has been won:
When the response is an attack against the other person.
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