A Good Old Moan

I was out with a friend of mine and we had a good old fashioned moan and bitching session about where I find myself now and also where he also found himself.

We had a few laughs I have to say. Both of us were at another venture a few years back that had similar problems and both of us lot time and money and had to build up again. I was relatively lucky in that one as I only had a small amount "owing".

The fun really got going when I was explaining part of the problem and it suddenly became clear to me that there was an even worse problem that had arisen about the way the company had undertaken its business and what it was about to do. They cannot make a clean break and dash off into the distance as they would effectively take the debts of the first company with the new one. I am certain no one has spotted this so far and believes that they can take away the intellectual property of the old business and make it the new businesses without the necessary value being placed on it.

I wish I had pursued a career in Law - the things that these guys are doing would fill a shelf :-)

They are all in conversation today about saving the business and I imagine that they will hear bad news from the investors and will need to rethink their position. They have blindly gone off believing their own spin and now - finally - they may "get it".

Again, I keep getting contacted and people want to drag me back to the undertow. I'm watching from a distance, vulture like, to see what I can rescue from the situation as one of the creditors.