• Report: #1037917

Complaint Review: Data Connect Corporation

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  • Submitted: Mon, March 25, 2013
  • Updated: Mon, March 25, 2013

  • Reported By: Daniel — Newton Iowa
Data Connect Corporation
6555 South Kenton St., Suite # 310 Centennial, Colorado United States of America

Data Connect Corporation Data Experts This Company sold stock in a Company called Data Experts and changed the name of the Company to Data Connect Corporation. Telling the Investors they are different companies....taking the Investors mon Centennial, Colorado

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Tim Hobbs CEO and Owner of Data Connect Corporation. Started a Company called Data Experts in the late 1980's he needed Capitol to build his company so he sold stock to individuals and promised them a return on their money. In 1992 my wife and her Ex-husband purchased 7500.00 worth of Stock while Tim Hobbs explained how the program he was developing would store data for the medical community along with information that could be sold to virtually any company.  Shortly after Tim sold these stocks he called my wife and told her he was going to change the name of the company because there was another company using the name Data Experts. But assured her that her investment was secure. He not only told her they were secure he hired her to work for him doing Trade shows. In February of 2012 she contacted Tim Hobbs and asked him how to go about getting a return on her investment.. he never responded. [continued below]....
..... So we called the CFO who immediately set out to find out how much her Investment was.. there was numerous correspondence back and forth with David Blackburn. We filed a report with the BBB and the case was closed... below is an email that was sent between Maria Sharp Ingle and David Blackburn in which they Admit she bought stock but it was in no way affiliated with Data Connect. Tim Hobbs closed the company and opened a New company. He never told any of the Investors this at all. He also claims that no money was transferred back and forth..

Well  What Happened to the money from the Original company Data Experts and Why was it sold if it was worth nothing. Then Why did Tim Hobbs tell my Wife for 20 years that her Investment was still there and he would get her stock as soon as the company was profitable... I have done some investigation on Data Connect Corporation and found out the company had an annual income of 9.5 million... I then talked with Maria's Ex-husband who told me that his mother and family friend had purchased stock with the company and never received a penny or any notifications about their Investments. Both his Mother and her Friend have passed away since then and never received a penny or any notifications that the company had changed names. I have tried to reach an agreement with this company for several months now and they fail to communicate back. They are Crooked as can be and Tim Hobbs is still leading the way. I would be very careful doing any business with this company. Below is an Email Confirming that Tim Hobbs sold the stock to her but with no explanation of where a sold broke company went. But the continuation of the same work with a change in Company name that many original investors, Invested in. 

Here is the email that CFO David Blackburn sent my wife Maria:

Hi Maria sorry for the delay. In researching this, apparently the situation was that you and several other folks/venture capitalists invested in a company called Data Experts, a predecessor company (and totally unrelated) to Data Connect Corporation (DCC). Data Experts, the company, went broke.  DCC and Data Experts were never combined as businesses nor was there any intermingling of funds although DCC was created (on paper and with the State of Colorado) within a short time of the Data Experts closing. Yet nothing happened for a while with DCC.  Many original investors in Data Experts and others then went into a company that was called Optical Interstore. Tim sold his shares of Optical Interstore to one of the other Optical Interstore investors. At that time he started up DCC, as the only stockholder of that company at that time. In reviewing the shareholder records of DCC, I have no record of you ever owning any shares of that particular entity (e.g. Data Connect Corporation). If you are associating any potential ownership of DCC with others who may have invested or owned any shares of Data Experts (such as Anne Gordon), please be advised that they (and she) purchased shares from Tim or other subsequent owners of DCC shares that Tim sold much later, during the period 2005-2011. Hope this helps and refreshes your memory as to what occurred back in the 1980s. Thanks again for your inquiry. David BlackburnChief Financial Officer303.840.7477, Ext 1112 - Phone303.840.7385 - General Office Fax303.840.7477 - Main Office ***Please note new mailing address, effective Sept. 7th***6555 South Kenton StreetSuite 310Centennial, CO 80111 dblackburn@dataconnectcorp.com

Why would someone buy shares of a company that was Broke makes no sense to me...sounds like manipulating paper to eliminate Investors.... Second- how would David Blackburn Know that no money was intermingled.... he was not there at that time as Tim Hobbs was the sole owner of both at the end and in the beginning. This Company has Crooked written all over it and Tim Hobbs is leading the Charge as he has for many years.

This report was posted on Ripoff Report on 03/25/2013 05:34 PM and is a permanent record located here: http://www.ripoffreport.com/r/Data-Connect-Corporation/Centennial-Colorado-80111/Data-Connect-Corporation-Data-Experts-This-Company-sold-stock-in-a-Company-called-Data-Exp-1037917. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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