Communiclique Data Details

Before Communiclique was exposed as a giant Ponzi scheme, the company Andy Powers and Ram Reddy were telling anyone who would listen that it was a Billion Dollar Unicorn. Now we know it is practically worthless. A group of investors recently won a judgment to put the company in receivership. The Bankruptcy lawsuit shed light on the murky details of this company (first story on this dumpster fire company and Andy Powers here) Here are just a few facts recently made public thanks to the bankruptcy proceedings. The Cap Table and how much each investor would have realized if the company exited at a billion dollar valuation. Shareholder Shares Percentage Value Empower LLC/Andy Powers 6,389,000 27.61% $ 276,149,974 Srin Reddy 5,000,000 21.61% $ 216,113,612 Devasena Reddy Irrev Trust 1 2,042,687 8.83% $ 88,290,493 Parva Reddy Family Trust 2 2,042,666 8.83% $ 88,289,586 Parva Reddy Family Trust 1 1,242,750 5.37% $ 53,715,038 Ram Reddy 720,000 3.11% $ 31,120,360 Jason Donahue Trust 526,000 2.27% $ 22,735,152 Kamakshi Radha Reddy 500,000 2.16% $ 21,611,361 Jai Gupta 476,191 2.06% $ 20,582,271 Jason Donahue IRA 400,000 1.73% $ 17,289,089 New Angel Capital LLC 333,334 1.44% $ 14,407,603 Diwakar Nagula 272,728 1.18% $ 11,788,047 Sam Medile 260,000 1.12% $ 11,237,908 Tim Gentry 250,000 1.08% $ 10,805,681 Federal Express Investments 238,096 1.03% $ 10,291,157 Barique Holdings 173,612 0.75% $ 7,503,983 Most Holdings 152,000 0.66% $ 6,569,854 Justin Connor 120,000 0.52% $ 5,186,727 Janardhan Nukalapati 100,000 0.43% $ 4,322,272 Ram Gupta 100,000 0.43% $ 4,322,272 Tim Lee 90,000 0.39% $ 3,890,045 Seetaramayya Nagula 90,000 0.39% $ 3,890,045 Andrew Schwartzman 89,960 0.39% $ 3,888,316 Gemma Medile 80,000 0.35% $ 3,457,818 Stephen Clune 80,000 0.35% $ 3,457,818 Satish Nagula 68,183 0.29% $ 2,947,055 Kishor Nagula 68,183 0.29% $ 2,947,055 Chuckie Reddy 60,000 0.26% $ 2,593,363 John Carleton 55,753 0.24% $ 2,409,796 Shapur Bashar 53,334 0.23% $ 2,305,241 Shankar Ram 50,000 0.22% $ 2,161,136 Robert and Carole Donahue Family Trust 50,000 0.22% $ 2,161,136 Dean Catino 45,000 0.19% $ 1,945,023 Carolyn Lee IRA 43,333 0.19% $ 1,872,970 Ashok Patel 43,000 0.19% $...

Anchorage Capital Committed Fiduciary Malfeasance

A private equity company called Anchorage Capital is suing Trustify. They think they were cheated. To my eye, it appears that Anchorage CEO, Lance Ulrich, and junior, master of the universe wannabe, Adam Besvinick cheated Anchorage's limited partners. Anchorage Capital Committed Fiduciary Malfeasance when they invested in a steaming turd called Trustify. If you are a limited partner invested in Anchorage Capital, this tale might just give you pause. In May 2017, Anchorage Capital invested slightly over $4.7 million in the A-round of a little DC-based company called Trustify. Trustify raised just under $7 million in their prior two seed rounds, $1.9 million on October 30, 2015, and $5 million in a second seed round on October 30, 2015. The terms of the A-round bogle the mind. Sources say that a rookie VC, Adam Besnivick, shepherded the deal for Anchorage. Rookie-hood can be the only excuse for the unforced errors of that investment. Let us take stock of all the mistakes made by Anchorage and all the red flags they ignored. Lead Investor Malfeasance - At $4.7 million of a $7 million round. You would think that anyone making such a relative sizeable investment in the first institutional round of a company would...