I approached Squid Finance from GoBigNetwork, looking for a company that would help me prepare a business plan for an invention, so I could seek for additional funding and get a business going. Not only my invention never took off, but they managed to convince me to invest $20,000 in another business that never took off either.
This company promises "Cash is KING and Squid has money for your developments."
In my case, the company jointly formed with Squid Finance was totally financed with my money, and they took 25% in sweat equity.
After many changes in direction about where the project was going and what should be done, hundreds of emails and broken promises (read this:
"Our goal is the same. I was clear about the fees for Phase I. The detailed plan will be developed and more importantly, we will get to market. Sales will occur. We will have cash flow. This is our commitment. If I get really efficient and make sales easy, you surely will not have a problem. If they are tough..and I spend many a day more than planned, I will not complain.")
The reality is that there has been $0 income, no sales, and no plan developed.
Now I have 75% of a company that has over spent in requests that I approved thinking that they were taking us to the right place, and once we ran out of money, we had nothing. No software platform, no sales, no money to continue.
I wonder if this could be taken to court, but I look into the eyes of my newborn daughter, and I have no words to explain how I feel thinking that someone took away money from me,from her, for nothing.