PubSub Explains Why Bankruptcy Is Likely
By: Andy Beal
You have to feel for Bob Wyman, founder of PubSub. He uses his blog to explain how some minor shareholders...
...are using blocking tactics to prevent the company from merging or raising money.
Link: Bob Wyman's blog
What has prevented us moving forward is a battle with a group of minority shareholders, some of whom claim to be lead by our ex-CEO Salim Ismail and are, in any case, primarily his "friends and family." This group is using very unusual clauses in our Shareholder's agreements to block mergers or financings. We've found it difficult to determine their motives, however, some have said that they believe that it is in their interest to drive the company into bankruptcy so that they can buy our software and start a new company.
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About the Author:
Andy Beal is an internet marketing consultant and considered one of the world's most respected and interactive search engine marketing experts. Andy has worked with many Fortune 1000 companies such as Motorola, CitiFinancial, Lowes, Alaska Air, DeWALT, NBC and Experian.
You can read his internet marketing blog at Marketing Pilgrim and reach him at [email protected].
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