- Report: #401343
Report - Rebuttal - Arbitrate
Complaint Review: Squid Finance
Squid Finance10800 Alpharetta HWY, Suite 208 #516 Roswell, Georgia U.S.A.
Squid Finance Entrepreneur ripped off in new business venture by this company, lost $20K Roswell Georgia
*Author of original report: Agreed Path Forward with Squid Development
*REBUTTAL Owner of company: World Class Business Enteprenuer with 20+ yrs Exp. with Fortune 500 companies cries for help!
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.
This report was posted on Ripoff Report on 12/14/2008 08:48 PM and is a permanent record located here: http://www.ripoffreport.com/r/Squid-Finance/Roswell-Georgia-30076/Squid-Finance-Entrepreneur-ripped-off-in-new-business-venture-by-this-company-lost-20K-R-401343. 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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