> He walked out "only" after Morris asked him to become a co-borrower on the $500k LOC. Not due to Morris' behavior...
Maybe he didn't want to invest in Morris' behavior.
The preferred stock is dubious since it's been arbitrarily issued by the one-man Board of Director of a public company with no corporate legal counsel. And, paying a Vegas attorney for an opinion letter is not corporate counsel.
Given how much money went to development, the team obviously did their job. Customers were up and running - with glowing reviews. You even said that you "love this software." Nothing significant has changed since the team left, so you need to make up your mind - you're confusing us shareholders.
I agree with you that the next wave of money was needed for marketing and sales, though So, where has that $500K gone? I still don't see any marketing or sales!
Sounds pretty smart for the contracted dev team to have moved on from that situation. Strange that the exec leadership hasn't been able to move things forward. I wonder where the $500K and the energy has been spent over the past two months.
