Tuesday, August 19, 2008 1:40:06 PM
This is from Todd...I doubt he would be posting it, if it is going into "Exhibit A" on a court case and it wasn't true..
One more time.....They gave me a new funds forecast every two weeks and never hit it. The original deal was for 125k/mos for 3 mos starting in feb 07 with us having it done june 1. Their PR's confirm this. Four months later we had only received 187k, not 375 as agreed. I insisted on a new contract with a payment commitment. They tried to put loop holes in the agreement that gave them the out not to pay me based on perceived performance. I ain't dumb, I said no way and made them refine the language to eliminate grey areas. I also agreed to doc the progress for them, and instructed our book keeper to isolate this project. I then setup a nutz'd acct'ing on every nickel including setting up a separate bank account just for this project as I had seen the writing on the wall. They missed their payment agreements again as I guessed they would and we went in to a holding pattern. Whenever money would show it went in to that account and then paid for a new piece of equipment, I'd update the report, put the ball back in their court and wait. Every couple of weeks/months they'd have a new home and scope for it and want estimates to accommodate the new plan. Meanwhile, they never caught up the payments as they didn't have the funds to plug it in, left me hanging while they paid for PR's to raise more money from you. We do 20-50 projects a year, and have for 10 years. All, I repeat all of the others are completed and paid for with less dicking around cumulatively than I've had on this one project. This project represents about 10% of one years avg sales volume. Do the math fly.
