Well, they owe you SOMETHING, either cash or if they don't have it, equity. Demand what is yours.
First off, you have a right to know the state of the company's finances. If they say they don't have the money, tell them to prove it and show you their bank account balance.
Second, you can be aggressive without getting personal, as long as everyone stays honest. If they're lying to you, then they're douchebags and it is personal.
Third, another way you could do this is to setup a formal loan and repayment plan with set interest rates, payment schedule and penalties. You could probably do this yourself.
Setting up a formal, high interest-bearing loan seems like a great way to incentivize them to pay your money back. If they don't want to play ball, then take them to court.
However, I definitely agree that the solution is NOT to bend over and take it in the ass.
Comments
Well, they owe you SOMETHING, either cash or if they don't have it, equity. Demand what is yours.
First off, you have a right to know the state of the company's finances. If they say they don't have the money, tell them to prove it and show you their bank account balance.
Second, you can be aggressive without getting personal, as long as everyone stays honest. If they're lying to you, then they're douchebags and it is personal.
Third, another way you could do this is to setup a formal loan and repayment plan with set interest rates, payment schedule and penalties. You could probably do this yourself.
Setting up a formal, high interest-bearing loan seems like a great way to incentivize them to pay your money back. If they don't want to play ball, then take them to court.
However, I definitely agree that the solution is NOT to bend over and take it in the ass.
"Well, they owe you SOMETHING, either cash or if they don't have it, equity."
Who would want equity in a failing company? If I were the OP and they offered me equity, I'd be insulted.
You are correct, sir. Equity in this company would be worthless to me, just a token of their appreciation.