- Report: #1421016
Complaint Review: VoXox - San Diego California
Reported By:
Steve Collins -
Phoenix, Arizona, United States
Submitted:
Updated:
-
Author Confirmed
Why?
VoXox
5825 Oberlin Drive #5 San Diego, 92121 California, United States
Phone:
858 336 3383 (Bryan Hertz
Web:
www.voxox.com
Categories:
Business Rating:
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VoXox Bryan Hertz Bob Hertz Kevin Hertz Solicited investment funds under false pretenses. Sold personal/founders shares without disclosing to hundreds of investors. San Diego California
Anyone who is a shareholder should contact me (Steve Collins) @ (((REDACTED))). I will be happy to provide documentation regarding my claims.
Voxox and the Hertz family raised over $80m. The investors are comprised of 900 accredited investors, 1 institutional investor who have provided ecquity funding to the company 2 family offices who provided debt funding to the company.
The founders of the company Bryan, Bob and Kevin Hertz collectively sold nearly 12,000,000 founders shares dating back to 2009 without disclosing these transactions to potential investors.
Voxox currently has a $8.5m top line revenue rate. Voxox's monthly burn rate is $500.000.00
Voxox has nearly $8,000.000 in debt instuments that are coming due and have failed to make intrst only payments for years
Perhaps most damaging to the shareholders, Voxox has a $3.5m federal tax liability... None if this is disclosed to current investors. Believeit or not, they are still seeking funding from investors. T
The Hertz family has taken millions of dollars off the table and lined their pockets while failing to execute their ill conceived business plan.
It is my goal to remove the principals from controlling the company. I believe that a forencic accounting would provide further proof of fiscal improprieties. I hope that the IRS, SEC and California Coprorations Commission look into these neferious activiities.
