As most of you already know, I am not a very good blogger. I am not good because I rarely post. The reason for this is because I don't really don't get out and do much...and what is going on in my life has generally not been very good lately. I also do not like to complain, so I just don't write. I have heard from a lot of you asking for an update of some kind. With that, I have decided to recap my last 20 days or so. Basically, there were three "eventful" things that have happened to me recently, so I am going to write about these in three separate posts. The good news is that you will get three new posts from me. lol!

This is the first.

I am not sure if this event would be considered good or bad. Overall it was very bad, and took its toll on me and many others. Just over a year and a half ago, my partner (walleyeman) and I sold our old company to firm based out of DC. A week or so later we got embroiled in what many (including myself) have called a "frivolous" lawsuit which basically boiled down to a money grab. This stemmed from a LOI (Letter of Intent) that we signed stating that we would sell the company to a guy out of Arizona. The LOI stated that we needed to close the transaction by a certain date, all changes to the document had to be done in writing, and that an Asset Purchase Agreement (APA) had to be completed and accepted by all parties. The APA is the heart of the agreement. This spelled-out every detail of what was to be sold, for how much, and all the "what ifs". We never even got to this document.

Bottom line is that NONE of those things happened, and the deal fell apart. We were assured by our original lawyer, that this happens all the time, and not to worry about it. A month later, a new buyer came along and we sold the company to them. This was not a huge deal mind you, but the guy who sued us was asking for around $15 Million dollars in compensation! Well, after a year and a half of turning over hard drives, submitting facts, documents, etc. the suit finally ended last week. As it turned out, this guy never even had the money to purchase the company in the first place...he was just looking for a free ride. As I am glad the suit is over, it did take its toll on me and others. Not only was there a great amount of stress and frustration over how the legal system could let this kind of thing continue, it also had a monetary toll. In the end, we ended up paying the lawyers around $400,000 to defend us. As you can imagine, It basically wiped us out. We never even got to celebrate the sale of our old company because we were immediately pulled into a legal mess....and from there is got worse!