This company signed a distributor agreement with me in 2006 in which they guaranteed to buy back any unsold inventory at the orginal cost anytime later than 10 months from the time the agreement was signed. They offered to warehouse the inventory until it was sold, so I never received any actual products. They were to market the product and fill orders from the inventory owned by the distributors like myself who had purchased it in the first place. Nothing was sold, despite a few newletters with glowing reports of their progress the intention of which seemed to be to solicit further investment.
They sent me a sample of the product, which was a badly made CD touting some pretty commonly known time and project management techniques. After a couple of years I asked them to buy back the inventory. They dodged my calls... one day when I had nothing to do I tied up their 1 800 line for a few hours... and finally contacted me to say that they were legitimately in business but impatient investors threatening court action were harming their reputation and impeding their efforts to make sales.
I took my documents to the local RCMP office where they told me it was civil matter and I should take it to a lawyer or small claims court. I live in New Brunswick and the company was then in Alberta, so I am not in a positiion to file a claim. Hiring a lawyer to deal with the matter would be prohibitively expensive since I had be cautious enough to invest only a relatively small amount. Basically they are getting away with the scam, and I wonder how many other small investors like me lost a few thousand dollars and have no recourse.
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