Again, you didn't read the agreements very closely. The royalty is only 7% as stipulated in the license agreement. The sales commission was 10% as stated in the consulting agreement. I no longer will receive the sales commission. And the only way I receive the royalty payment(s) is if MSEP sells product. And so far I haven't received a dime. (other than the engagment fee as specified in the license agreement)
Why don't you call David and ask him how much has been sold so far? Or what are his plans for distribution? Or how does he think changing the price point to that of all the other racing brake fluids helps to set Prospeed GS610™ apart as the "premium" product? Or what is he going to say to distributors that paid almost what the new retail price is when they ask how they're supposed to make money? Where have the ads been placed? When do they begin running?
MSEP and MGW entered into the relationship as it appeared to be to the benefit of both parties. There's no denying that. Yep, at the time I needed them and they needed me. They received what could have been a complete turn key operation that didn't require any fidgeting with. But almost immediately following the signing of the 2 agreements, things started to be fidgeted with. Why is anyone asking the question, "Whay would Wachholz leave after only 32 days into the contract? He loses an ongoing 10% commission and 2.5 million shares of stock." I didn't even make it the 6 month minimum to vest the stock. Com'on ... even at a penny that's worth $25k. Why would I walk away from that?
BTW, much of the info you need to determine some of this is out there. But you will have to think in a more critical manner. For example, the last PR was about the "Stars of Karting" sponsorship. Why hasn't anyone asked how this partnership is going to sell brake fluid to the 35 yr old auto enthusiast? How often does this series get any air time? How does this partnership increase product credibility? Oh, btw, notice its owned in part by Bryan Herta. Go ask someone who's not into cars who Bryan Herta is. Now ask them about Karting. Finally ask them about Dale Earnhardt jr.
Now ask exactly what are the 15-25 industry related magazines were part of the "...agressive print campaign" (PR of 22 Aug) I'm tellin' ya ... The info is there if you ask the right questions.
You can bash me all you want here. I don't really care as the proof will ultimatly come out. I find it very interesting that a few on the boards will Google and call MSEP to do DD, but no one ever seems to contact the first line customer; the distributors. These are the first folks to purchase. Or how many have tried to contact me? I posted my number. I received two calls. I'll post it again - 480 703 5865 and my direct e-mail is "michael@prospeedmotorsport.com"
Michael G. Wachholz
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