Startup Business Plan

Corporate Governance Requirements For Angel Investors

Angel Investing is inherently risky. Startups, in general, aren't for the weak at heart. It is even more perilous when investing with minimal leverage that comes with a small investment of $25 - $50 thousand. Over a 10 year period, I made 7 investments that returned 180 percent. Over the same period of time, the S&P returned 250 percent. Yes, I took 50 times the risk to get a fraction of the return. How could I have improved the returns? I should have insisted that companies followed certain corporate governance norms. And if I didn't have the leverage to dictate good governance, I should have invested alongside someone who had the power to mandate good corporate governance terms. Let's look at my investments to illustrate what I mean? Winners With Responsible Leadership Social Tables - Great Management Team, Frequent Credible Business Status, and Financial Reporting and Regular Board Supervision Veenome - Great Founder, Frequent Credible Business Status and regular investor conference calls seeking input. Sideways With Responsible Leadership TalkLocal - Great Management Team, Frequent Credible Business Status, and Financial Reporting and regular investor conference calls seeking input. Winners With Leadership Issues none Losers With Leadership Issues SpotFlux - Not sure, I invested...

In with Amify and Out with Trustify

Remember back a few years ago, when Trustify was a thing? Back then Danny Boice and Jennifer Mellon were spending their investor's money like drunken sailors. With big fanfare and much press, these two crooks announced their big office opening on the 8th floor of 201 12th St. South in Crystal City. Then all of a sudden, the companies phones were turned off and one day, people showed up for work and the locks were changed. Trustify was evicted for non-payment. Boice, Mellon and the company were sued by their Landlord, JBG Smith and smith was awarded $263,477.21 by the courts. If you aren't up to date on the Trustify Debacle, it's a long story. Trustify was a start-up that got lots of local and national hype for being the next Uber. It was the Uber of Private Investigators because just like Uber, a thing that users use multiple times a month, everyone needs a private eye two or three times a week. This company raised $20 million dollars and cheated investors out of all that money. Founders Jen Mellon and Danny Boice did not try to build a legitimate business. They built a company that looked shiny, allows them to...

Former Trustify Employees Awarded $260 Thousand Judgement

Eight former Trustify employees, Matthew Scott, Elisabeth Nugent, Kevin Wiggins, Stacy Blackburn, Bey Wesley, Matthew Blanchard, Bernadette Vielhaber and Andrew Little, seeking $35 thousand in back pay. A court awarded these former employees $259,425.49 for several weeks back-pay, lost wages while unemployed, damages and Labor Law violations. The troubles for the bankrupt company and it's two co-founders Danny Boice and Jennifer Mellon keep adding up. Good luck with collections as this group of creditors get in line with other burned creditors. Litigant Type Status Amount Commonwealth of Virginia Tax Lien Judgment $593,054.03 JBG Smith Office Rent Judgment $263,477.21 Centro GS Software Judgment $25,000.00 Eight Former Trustify Employees Back Pay/FinesDamages Judgment $259,425.49 Buckley Sanders LLP Legal Bills Judgment $245,945.00 Dini Von Mueffling Communications Press Relations/Marketing Law Suit $240,305.26 Total $1,627,206.99 If you're keeping score at home, it is now 5 wins for the litigants, zero wins for Boice and Mellon. The latest woes for the Husband and Wife couple keep adding up. In addition these judgment and active lawsuits there is an active criminal investigation ongoing by the FBI into fraud and embezzlement accusations. Danny Boice and Jen Mellon are legally separated and headed to divorce court. Finally, there is still a bankruptcy case pending in Deleware courts. Trouble keeps adding up for the couple in May 2017 threatened to sue me for exposing their fraud and abuse (see post)...

Hey Washingtonian? Is This An Apology?

Hey Washingtonian, do you call this an apology? 'When you wrote the article, Is the Blogger “Mr. Cranky” Out to Save DC’s Tech Industry—Or Destroy It?', you did your best to defend Jennifer Mellon and Danny Boice, the crooks who run Trustify. Sure you printed my response, "Mr. Cranky Responds," Yet, as time goes by, the facts of the case, show that you totally blew it (see post). Now almost a year later, we see that Jen Mellon and Danny Boice are being sued for embezzlement and fraud in a bankruptcy suit brought by Trustify investor, Anchorage Capital. Add on four large legal judgments and one additional lawsuit still pending for a total of $1.5 million and I'd say that that's proof that Trustify is a Dumpster Fire. So when you published this listing in your September magazine. Was that the best you could do for an apology? When you admit that, as you say, "Danny Boice, former CEO of the embattled tech startup Trustify," are you saying, "We're sorry Mr. Cranky, you were right? By the way, you should check out all the real estate juggling performed by these two crooks (see about the Boice/Mellon real estate shenanigans here).  ...

Jennifer Mellon and Danny Boices’s Trustify Woes Add Up

Are you keeping score of Jennifer Mellon and Danny Boice's Trustify Woes? Well, I am. First, there is the bankruptcy case that alleges Jen Mellon and Danny Boice embezzled cash and defrauded investors. In this suit, Anchorage Capital who invested $6.5 million in Trustify alleges that Boice transferred $750 thousand per year into a personal account used to fund Boice and Mellon's household expenses. This was in addition to the $600 thousand a year the couple paid themselves to be officers of a money-losing dumpster fire. The suit alleges many transgressions against all the Trustify officers but specifically names Jen Mellon and Danny Boice multiple times. The suit stresses the importance of cutting Boice and Mellon off from the company's cash as soon as possible (see paragraphs 34 and 25 from the suit). 34. The facts likewise show the dire need for this Court to issue an Order maintaining Trustify's status quo and enjoining Boice, Jennifer Mellon, and Trustify's other current and former officers or representatives, from disbursing any funds or transferring any assets other than those needed to meet Trustify's day-today obligations, and from continuing to engage in the wrongful conduct that is causing damage to the interests of Trustify, its stockholders, and its investors. 35. Indeed, given...

Jen Mellon’s New House – Trustify Investor Asset Search

(Updated 3:25PM 8/06/2019) When we last left the scurrilous retroactive co-founder and former President of Trustify,  Jennifer Mellon, estranged wife of Danny Boice, she landed a cushy government job as the Confidential Assistant to FERC Chairman Neil Chatterjee. At that time she was engaging in real estate transactions that feel a lot like money laundering and fraud to me. On March 18, 2019, Mellon's soon to be ex-husband, Danny Boice transferred the title of their Sea Isle NJ, beach vacation home to Mellon for $1 dollar. That's right, you heard me...

We Missed Trustify Loses Lawsuit with Centro Global Solutions

Bad news for Danny Boice and Jennifer Melon. While we were sleeping we missed another judgment against former dumpster fire now smoldering embers company, Trustify. On June 3, Winchester Virginia-based, Contact Management Software Provider, Centro Global Solutions, won a $25,000 judgment against the firm that ceased operations months ago. Add this judgment to Danny Boice and Jen Mellon's woes, a list that includes: Boyce owes his ex-wife over $50 thousand in court fees and back child support Trustify owes - Dini von Mueffling Communications LLC – Suing for $240 thousand Trustify lost a judgment to eight former employees, Matthew Scott, Elisabeth Nugent, Kevin Wiggins, Stacy Blackburn, Bey Wesley, Matthew Blanchard, Bernadette Vielhaber and Andrew Little – Suing for $35 thousand – (see the filing here and here’s an article) Trustify owes $250 thousand to their attornies, Buckley Sandler LLP, Trustify owes Kastle Systems Trustify lost a judgment to JBG Smith Properties for $260 thousand Trustify owes ADP Trustify owes Bill.com Trustify owes Hubspot Boice has not paid a court judgment of $7,250 against him from Northern Virginia cosmetic and reconstructive surgeon Suzanne Kim Doud Galli for his nose job Trustify owes - Multiple contract Private Investigators – Estimated to be in excess of over $150...

Scammer Danny Boice Scammed by AdvisoryCloud

There's nothing more fitting than when a scammer is scammed. Let me set the Stage. Danny Boice is a well-documented perpetrator of fraud and embezzlement. He recently spent time in orange and white striped prison garb and leg shackles to explain to a judge why a guy who owned a $1.5 million home, a Tesla, had a chauffeur, maid, nanny, the groundskeeper was $50K in arrears on child support. Boice has allegedly scammed people of over $30 million dollars while embezzling the cash for personal use. So it's only fitting that this clown is now paying AdvisoryCloud to find paid advisory positions and AdvsoryCloud will work as hard for Danny's benefit as Danny worked for the benefit of his employees, vendors, customers, and investors when he was at Trustify. In other words, they're going to keep his money and laugh at him! Who is AdvisoryCloud? AdvisoryCloud is the F-rated Better Business Bueruea, 1-star Tust Pilot ranked, scam company that charges people who are too niave to be advisors as evidenced by the fact that they are not smart enough to check internet reviews before paying AdvisoryCloud to not get them an advisory position for which they are obviously not qualified. Here's how Danny Boice describes himself...

Join the I Hate Mr. Cranky Club

Hi Folks, there's a new club forming. It's the "I Hate Mr. Cranky Club. A little background. I've always had my detractors and haters. When a person is a pig-headed arrogant meat-waffle like I am it's only natural. Add on that I call out crooks, cheats, and slime and you can multiply the haters club into a battalion of know-nothing shit-stirrers. Remember the illiterate, chickenshit, weasel who created a blog about Mr. Cranky (see post)? That was the start of a concerted effort to uncover dirt and trash my reputation. The only problem these provocateurs have is I'm a little too squeaky clean to be provoked. I wouldn't start calling out crooks if I had anything to hide. I'm stupid, just not that stupid. When I started my cranky crook coverage I knew I had to have and maintain a spotless ethics and criminal record. I knew that I would have to keep my nose clean while I was exposing, scam artists, bullshitocrats, and criminals? Especially when some of those crooks like Danny Boice and Matt De Leon are supposed to be private detectives? Don't you think that if there was some evil in my background, they would have exposed it by...