At the moment the situation is as follows- the investor signed the offering documents via a convertible note for the amount of $250K. Now the investor has gone dark and is not responding to emails and has not wired the agreed amount. Appreciate the help.
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The chance to get a GOOD atterney on contingency basis is not that high, and it will mean you will pay a lot to him of investment, not debt.. And as you are seeking money, it's hard to imagine you have extra funds, time and attantion for a legal fight payed to atterneys on hourly fees. Just forget it.
Founder, The Bespoke CMO. Advisory Board Member & Advisor
September 28th, 2016
You can drive yourself crazy trying to figure out why this happened, and drive yourself to distraction trying to figure out to pursue him. Neither is productive. Even if you locate him, litigation is never a good way to start a relationship. Really scrutinize your process in case there is anything to be learned for next time. And move onto next time as quickly as possible. You attracted interest - you'll attract it again. Good luck.
Independent Venture Capital & Private Equity Professional
September 28th, 2016
Maybe he is dead. It happens. More than likely, you need an aggressive lawyer to chase him down. If he has signed the offering documents, he has entered into a contract (unless there is an escape clause in there somewhere) and is obligated to abide by it.
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Don’t waste time and resources in trying to force an investment or honoring of an agreement.
The investor will ave lots of "outs" and a countersuit could prove distracting.
Founder and CEO of Enteros. Years of successful experience in startup business and database technology.
September 29th, 2016
Unless this is a desperate situation, save your energy and go after other investors. This is not a period in the life of your young company to consider legal action (even if you can do it for free and could win)