Quote:
Originally Posted by andrewb70
I would like to make a point, but please know that I have never met any of the parties involved, nor have I purchased any products from them. What I am about to say should not be seen as defending anyone.
It is not uncommon for a company to announce new ownership prior to the actual legal standing of "ownership." Many companies do this to facilitate a smooth transition because changing ownership is not like flipping a switch. It is also entirely possible that once a potential buyer digs deeper into the workings of a business, they realize that things are not as they were initially presented to them. Thus, in any deal, be it the sale of a car, house, or business, it is not done, until it is DONE! Intent to purchase is not the same as the act of purchase.
Andrew
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Most companies that understand how business is SUPPOSED to be will NEVER introduce any change in ownership until it is LEGALLY transfered. Sounds like our boy jumped the gun. I don't have a dog in this fight but it sounds to me that maybe Jon "overstated" some of the virtues of the company and when Travis got in there and was able to really see what was going on he backed out.
My question is why would you even get close to closing a deal and announcing that you are the new owner without having audited the books in a way that would confirm moving on with closing said deal? Obviously the ownership change was done prematurely although there are certain disturbing timeline issues that don't bode well for Jon.
I don't think he intentionally tried to rip people off but then again, when you're drowning, many times you'll cling to whatever just to keep your head above water rationalizing that once you get back on track you'll make good on the deal. Not making excuses for the man but I've seen this scenario play out many times.
Do I think he should pay back every penny that was taken from customers that never received product? Of course, but as mentioned, you can't squeeze blood from a stone. I would hope that if NewGen takes off, I doubt it but if it does, Jon would have the integrity of making good on his debts even if, legally, he is not beholden to them.
Another question I have is where did the money end up? There seems to be some confusion as, supposedly, monies were being deposited into Mr. Hensons account even though the ownership and account transfer had already been done and should have, by Jons own account, been deposited into Driverz's account which, supposedly, had been already transferred into Travis's name. So who got the money? My guess is Travis bought the business from Jon and, after having seen how things really were, decided to pull his money back out and the only way he could do that was to raid the coffers. Who loses? The customers. Why? Because they gave their money to people who don't know how to run a business. JMO.
John