I bought stock in a Co. with the promise of a License to use a Patented Process as a Perk to buying stock. The License Fee at the time was listed to be $50,000.00. Now that we have 80-100 investors and we are getting more Licensees paying deposits, the cost of the license now is $5,000.00. Only 10% of original. I have been advised that no license will be issued until a training on the Patented Process is completed.
I have for a year now requested a written copy of the promised License.
I have made numerous request for a hard copy of the Pre-License.
I have been told to apply for the license with 3 different separate forms in the past 6 months so far.
I have been threatened that I will loose the License area if I don't apply soon, long after having confirmation of receipt of it.
When I asked where is it listed that a Stockholder gets a license? I was told in an email it is listed in the CEO's Book of rules listed under "Perks" that a stockholder can receive a License to use the Patented Process.
I have asked for a copy of that BOOK OF RULES only to be told it is Private and Nevada law makes it private. He does not have to provide any proof.
Now I have asked again this week for a Hard Copy of what I have been promised for a year now to get Proof I get the License so I can get my Corporation Filed.
Without this License, I can not base any Corporate start up filings and subsequent manufacturing. I have stated this numerous times to the CEO.
Now this week I have been threatened by the CEO that I could be removed as a stockholder under his "Book of rules" as "Undesirables". All this for asking to obtain a Hard Copy what has been a Verbal and email Promise for a year now.
Now I am told not to contact him anymore until they decide to Train me then I will have my License.
Is what I ask for unreasonable?
Is it a Valid reason to remove me and ruin a years worth of work planning a Major Manufacturing facility?
If I am removed, I would think I would have a Civil Case. Anyone concur?