I am hoping someone can assist first time, unexperienced investors with learning the ropes and understanding a little more clearly about trading the penny stocks, and the dangers and opportunities that come with it.
I started a company back in 2000, built it with my own money, sweat and tears until i reached a point that I needed to fund final development of the technology I wanted to deploy. I approached a friend, who after several months suggested they new someone that owned a publicly traded company that was interested in buying my company, and agreed to not only pay me top dollar for mine, but agreed to hire me as a private contractor since its really me and my team that make everything work.
I sold my 8 year old company for 1.4M USD and agreed to accept 100M shares, which I was told would be worth a substantial amount once we completed some final steps, after a year they said I could sell my shares or keep them. So after everything was signed, and all these PR were issued saying they bought me out, and how much money they were going to make, the stock value started to rise, but when it came time for them to pay, there were tons of excuses, and even more promises of payment in the future.
I watched the stock rise and rise as they issued PR regarding me, my professional accomplishments, my company, and my clients and overall business plan. Since there were terms to the shares I was issued, I was told I had to wait a complete year before I could trade my shares, so i continued to rely on my friend of 15 years and the publicly traded companies attorney to advise me.
Again, I'm just a simple kid, who devoted my life and entire career to my company, everyone always said accomplishments can be judged by the success of being a publicly traded company, and I was excited to finally be able to reach all of my goals, more so for the company then for me, but I was seriously mistaken.
One day I learned the company sold a ton of shares at a substantial amount, as the value had gone from $.01 to just under 1.00 a share, based on my creation, yet still I had never been paid. after several heated arguments and threats I was given a choice, (after they made tons of money), I could walk away and give them their shares back, and they would give me my company back, or I could accept more shares.
Since they never paid me a dime, I stopped supporting the company, and the executives i was first aware of, all disappeared, and there are some new people in place, but I have never spoken to anyone.
Next, I was sued because I mentioned I still owned my company, and referred to myself as the owner, despite the fact they never paid me a dime, i learned i really didnt own my company anymore, and had no right to say I did.
So I started a new company, and resumed my business goals, but am pretty much right back where I was in the beginning. I own a substantial company on the verge of generating serious revenue, but all I need to do, is raise deployment funding.
Unfortunately, this fiasco has consumed not only the past 2 years, of mine and my families life, it depleted my savings, cost me the house I purchased thinking they were going to pay me, and I've lost most of my clients.
Since I sold my previous company and was considered nothing more then an employee (never paid), suffered substantial debt in attorney fees and investigators, so I no longer have the perfect credit score. They screwed me, and screwed me good.
Worse, even though I now own more then 51% of their shares, was never an executive, or even an employee, because I am the developer and creator, I am considered an insider, and am prevented from talking about anything to do with them, despite the fact I don't even know if theres anyone left to really run the company, and have had no communication from them at all.
I do know they owe just a small amount of money before they can trade again, but like I said, I have to this day, had no communication with anyone in almost 8 months. Since all of this, I have started a new company on my own, expanded my primary business plan, developed even more amazing technology, and actually launched a beta version and built a completely functional and operational product, but to deploy everything I still need additional funding.
Today I am looking for a simple partnership or investment to complete the final stage and launch this technology. I have an entire new model, new clients, new everything. My first thought was why don't I contact the investors who bought that companies stock, together we could either take over the public company that F&*ked us all, or perhaps find another company similar to mine, to partner with for deployment funding.
I am a simple kid, with simple values - Honesty, integrity, morals who just so happens to be sitting on a goldmine with no way to deliver my product because I cant deploy it. I love what I do, and would never want to ever do anything else, but without the funding it looks grim.
I know if I could reach the right people everything would be awesome, but I have no idea even where to start, and more importantly who to trust.
I do know that public traded company will never become anything without me and the engine i built, but without finding someone to help I honestly don't know where to turn.
The attorneys have told me the best thing to do is sit tight, the public company has no money, so theres no point. I could go to the SEC now that I have more than enough evidence to support what they did was a illegal pump and dump (just learned that term recently), but again there is no money. The best advise they could give me was to start fresh, even after I spent over 50K in legal fees.
So if anyone here has any advice I could sure use it. The total amount of funding needed is in stages, 20K to complete launch, another 20K to deploy and then another 250K to make 2.8M in less then 2 years. All in all, Id be willing to partner 50/50 for the funding. I was also thinking once we are deployed of taking over the public company and doing what was suppose of been done 2 years ago.
All I can say is we are in a critical time window with certain developments, and now is the time to make this all happen. We are in the digital broadcast media industry with technology related to satellite burst broadcasting, and have the delivery engines in place with substantial customer base and global reach.
The Noobie Kid
