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  1. #1
    Join Date
    Mar 2001
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    Detroit MI
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    * Looking for Few Investors

    Last edited by janderfox; 07-17-2002 at 01:35 PM.
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  2. #2
    Join Date
    Feb 2001
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    speak to your lawer.. they always have plenty of clients with money... we were able to raise $250K from an overseas investor through our evil lawer..
    I have servers at: NetDepot/GNAX (A), SoftLayer (A), LiquidWeb (B+), DedicatedNow (B+), Nectartech (B) and more!

  3. #3
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    Mar 2001
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    Detroit MI
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    Hehe thanks,

    I'll consider that.

    --JCA Justin
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  4. #4
    Greetings Janderfox:

    "Merchantica.com is looking for few investors willing to invest in the company with a guaranteed 125% ROI."

    Please consult your attorney over issues that may rise based on making statements like the above.

    The S.E.C. has a heavy hand -- criminal charges -- against anyone who tries to take a risk-based investment that guarantees a specific ROI or other type of profit, reward, etc.

    Please note I'm not stating your above statement is incorrect or otherwise illegal. I am stating you should consult your attorney to find out if you can make such statements without ending up in jail or in front of a judge.

    Thank you.

  5. #5
    Join Date
    Mar 2001
    Location
    Detroit MI
    Posts
    43
    Hi,

    Thanks for the concern. Before I made this statement, I did consult with my attorney.

    In essence, he explained to me that "investment" was the wrong idea, and "loan with interest" was more like what we are requesting. I decided to use the word investment to invite more investors into the pool. In the prospectus, the entire details are explained.

    I assure you, everything is 100% legal.

    Best Regards,

    --JCA Justin
    Netatic Web Hosting - The World's Best Web Hosting
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  6. #6

    Your lawyer said

    "Investment" was the wrong word, but you used it anyway?

  7. #7
    Join Date
    Aug 2000
    Posts
    1,167
    Merchantica.com was registered on May 25 and the web site has no content. It takes more than a newly coined domain name to be an online business, let alone a business anyone wants to inject their hard-earned money into. I also balk at the use of the term "investment". The word "guarantee" gives me problems too, especially since there's no track record here.

  8. #8
    Join Date
    Mar 2001
    Location
    Detroit MI
    Posts
    43
    Well he said it jokingly. Lol, I'ts kind of hard to explain. He said I could use the word investment as long as I didn't respresent the opportunity as a risk opportunity where there is a possibility that money could be lost.

    --JCA Justin
    Netatic Web Hosting - The World's Best Web Hosting
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  9. #9

    Well, ignore your lawyer...ignore all securities and lending laws

    And just see how much trouble you can get into.....and if you say there is no possibility of loss.....find investors who are willing to accompany you to a fantasy world....

  10. #10
    Join Date
    Mar 2001
    Location
    Detroit MI
    Posts
    43
    Originally posted by alchiba
    Merchantica.com was registered on May 25 and the web site has no content. It takes more than a newly coined domain name to be an online business, let alone a business anyone wants to inject their hard-earned money into. I also balk at the use of the term "investment". The word "guarantee" gives me problems too, especially since there's no track record here.
    Oh please...

    The company is months in the making. I have had and still have several developers developing many complex systems for the project. The website was last on the list of things that need to be developed, and FYI, it is almost complete, and won't be made avaliable to the public until the company's launch. Thousands of dollars have already be invested, and more on the way. We just decided to expand our investor profile.

    If you are curious, please go ahead and complete the NDA so I can send you over the prospectus, once you read the prospectus, you will better understand, it is a loan, not a risk-based investment.

    --JCA Justin
    Netatic Web Hosting - The World's Best Web Hosting
    http://www.netaticwebhosting.com

  11. #11
    Join Date
    Mar 2001
    Location
    Detroit MI
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    Incognito,

    Just got off the phone with my lawyer, just to make sure everything was fine. He again advised me that everything was fine, as long as I didn't represent the opportunity as a risk-based investment, which I'm not. I had him look over your comments and he assured me that I was in violation of no law.

    But you guys are starting to worry me. So... I'll change the wording of things just to console you people.

    Thanks,

    --JCA Justin
    Netatic Web Hosting - The World's Best Web Hosting
    http://www.netaticwebhosting.com

  12. #12
    Join Date
    Aug 2000
    Posts
    1,167
    Originally posted by janderfox
    I'll change the wording of things just to console you people.
    As far as I can tell no one is shedding tears over this, so consoling isn't what's called for. Clarity will go a long way, though.

  13. #13
    Join Date
    Mar 2001
    Location
    Detroit MI
    Posts
    43
    alchiba,

    You're completely right.

    --JCA Justin
    Netatic Web Hosting - The World's Best Web Hosting
    http://www.netaticwebhosting.com

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