Vicom isn't the last company, it wasn't even the first. It was simply the one that I got nailed on.
The government has a word for the practice of brining up a company, accumulating debt and assets, transferring the assets to a new company and then closing the one with debt. It's called 'Pyramiding'. This is what I believe they were doing. Most of the companies stayed in existence for less than a year. Assets were transferred to associates for less than their value and then transferred back into a new company. Customers, phone lines, furniture, employees, sometimes even the same office locations, was merged into a new company name leaving the investors of the old company with nothing but debt.
If you can't, don't be too hard on yourself. The IRS couldn't either. With a little help from Omni Financial. And a little more help.
Too bad I don't have a letter signed by Mark sent to the clients that the two companies are the same with "...the same people, employees and owners". Oh wait! I do.
Note: If you have any of Mark's cards with President of Hypervelocity, Mpact Development and whatever his newest company is, please send them to me. I'd like to add them to the web.
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