ED Magedson – Founder
Absolutelynewinc650 Townsend Street Suite 475 San Francisco, CA, California USA
Absolutelynewinc (Robert Lugar - Project Licensing Mngr. Lola Akanmu - Project Coordinator Bejamin Stafford - Senior Director, Innovations Group Jose Castello - Director, Innovations Group Michael Reiley - ????) Conspiracy To Defraud The Public - Ponzi Scheme San Francisco, California
To Whom It May Concern:
I am beginning to lose my faith in the US Justice system.
Recently, I uncovered a “Ponzi” scheme that has been scamming unsuspecting Inventors out of enormous amounts of funds. It is a “Conspiracy To Defraud The Public”. I notified The Attorney General’s Office in NY & Sacramento, CA and each department passed the buck to the other without doing anything to remedy the situation. Now they gave me another company that could help me. Round & round we go and nothing gets done. Due to the fact that the scammers ran off with my funds, I do not have enough to hire Legal Assistance.
This is how the scam works.
An Inventor contracts an "Inventor help" establishment that promises to promote, develop and help bring the invention onto the market. In this case it is Absolutelynew, Inc. They have a set price that must be paid before any work is performed. Once the payments are made, they proceed to help get your project on the Market. Drawings & Documentation is prepared and submitted to the contractor for approval. Once approved, they take their time moving toward obtaining a “Patent Pending” status. This was easy for them to achieve, since they have been doing this for years.
So far everything looks great. The next step is to seek a manufacturer to produce the item. Then find companies that could use my item. A quarterly report is submitted on their progress of getting the item on the market to make it seem that they are doing their job. This all looks good until they stopped submitting reports, closed up their company and absconded with all my funds ($17,444.00). My “Patent Pending” status is only good for 1 year and if the project is not on the market and drawing an income by the time the “Patent Pending” status expires and if I don’t apply for a “Non Provisional Patent” that will protect my patent for the next 17 years, the people that I contracted with, claims the item for themselves and begins to mass produce it, leaving the Inventor out of the picture. They purposely stall in order to jump on the Inventors bandwagon knowing that the Inventor doesn’t know how to proceed to the next step.
Before I contracted with this company, I did research on the BBB. They gave this company an “A+” rating. Looking back to that research, I’m wondering how that company (Formerly known as Absolutelynew, Inc., located in San Francisco, CA.) ever achieved that rating from the BBB. Unless I’m wrong, the BBB is an organization that collects dues from any company willing to join them and, in return, receives that rating just for joining. All my funds have been placed on my Discovercard. Discovercard has a policy that “If the goods that were paid for ever breaks or, not delivered, they will refund the payment”. Since these payments were made a little more than a year ago, Discovercard refuses to reimburse me. Absolutelynew, Inc. made sure that the time for reimbursement of funds from the credit card company was lapsed, 120 days, before they closed up shop. They deliberately reneged on their contract.
I am almost sure that the people of the former Absolutelynew, Inc. company will be doing this again under a different name in the near future. I need The FBI to get in on this scam and bring these people to justice. They can not be protected by Corporate Laws. I also need my funds reimbursed so that I can continue to go forth in bringing my project to Market. My Item will help Billions of people throughout the world and I am at a standstill due to lack of funds.
Please help me.
This report was posted on Ripoff Report on 08/06/2013 12:17 PM and is a permanent record located here: http://www.ripoffreport.com/r/Absolutelynewinc/San-Francisco-CA-California-94103/Absolutelynewinc-Robert-Lugar-Project-Licensing-Mngr-Lola-Akanmu-Project-Coordinator-1073531. 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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