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Saturday, June 20, 2009 9:07:58 AM
This is just my impression of what happened (some of it is guesswork)
Late 2007- Unwin strengthens the spooztoolz product and rewrites some of the code
Early 2008- Further restructuring of code due to Groves and He issues
Mid 2008- Spooz has to dilute us severely to keep paying its staff, but deals are coming along nicely... we just might make it
Fall 2008- Economy crashes, Spooz loses a funding source that was a critical part of the business plan. Spooz cannot dilute anymore.
-Spooz can no longer aford to pay Unwin, so Unwin parts with the indication that his new company Kaitrade will sell spooztoolz. Jim Hensel tags along. Kaitrade negotiates a good cut that they won't have to share with us measely share holders.
-Unwin realizes that he could write a program that does some of the same stuff as Spooztoolz and may also be easier to integrate into existing systems.
Late 2008
-Discussions between Paul and John about a potential shift in the platform go poorly, and Spooz has no leverage.
2009
-Kaitrade develops its "new" platform and pitches the concept successfully to Spooz's target clients
-Kaitrade launches and we get nothing
My conclusion: The combination of a bad economy and some poor management decisions resulted in an opportunity for Unwin to screw us over, which he did with skill and precision.
My opinion: Mr. Unwin did not pay attention in his engineering ethics class, and if Spooz can get the funds to go after Kaitrade in a court of law, they should do so. While I'm sure John modified the program, I cannot believe that he did not incorporate any proprietary ideas gained while working for Spooz under some sort of NDA or non-compete agreement.
My two cents, or 200 spzi shares worth on a good day.
Peace,
Gbathat
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God grant me the serenity to deal with the things I cannot change; courage to change the things I can and should; and wisdom to know the difference.
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