N
niblickspoon
Guest
Idaho
My parents and I invested $1000 each (through an investment group) in a tech company that was supposedly going to go public in the summer of '01. At that time, we were informed that the company had not managed to obtain the necessary funding to proceed further and with the terrorist attacks of 9/11 it was communicated to us that our investment was essentially lost and the development of the company and its proprietary technology was going to proceed no further.
We thus wrote off our investments as a loss, received a loss statement from the investment group and that was that.
Now just recently, we have received registered mail from one of the main principles and owners of the technology. He wants to buy our shares in this investment group at 40% of their value. Or, more exactly, REFUND us 40% of our investment.
On the surface this seems like a grand gesture on his part, but my personal knowledge of him suggests that he would not do such a thing unless he stood to profit by it.
I have researched the company in everyway available to me and have found no new information.
The refund offer must be accepted by next Friday.
My question is; what would be the best thing for us to do? Accept the refund of 40%? Or wait and see if the company is in the process of attempting to go public once again? What would this person's motivation be to offer such a refund, taking for granted that it is not just a noble gesture?
My parents and I invested $1000 each (through an investment group) in a tech company that was supposedly going to go public in the summer of '01. At that time, we were informed that the company had not managed to obtain the necessary funding to proceed further and with the terrorist attacks of 9/11 it was communicated to us that our investment was essentially lost and the development of the company and its proprietary technology was going to proceed no further.
We thus wrote off our investments as a loss, received a loss statement from the investment group and that was that.
Now just recently, we have received registered mail from one of the main principles and owners of the technology. He wants to buy our shares in this investment group at 40% of their value. Or, more exactly, REFUND us 40% of our investment.
On the surface this seems like a grand gesture on his part, but my personal knowledge of him suggests that he would not do such a thing unless he stood to profit by it.
I have researched the company in everyway available to me and have found no new information.
The refund offer must be accepted by next Friday.
My question is; what would be the best thing for us to do? Accept the refund of 40%? Or wait and see if the company is in the process of attempting to go public once again? What would this person's motivation be to offer such a refund, taking for granted that it is not just a noble gesture?