I invested in two companies and was given stock in both of them.
One company I invested $25,000. I was brought into it by a former business partner and the company was touted by a local former politician with a great reputation but the guy who actually operated the company seemed sketchy. I invested five years ago and have not heard anything more about it. I’ve inquired about it but have never been given a straight answer. I was even told by the sketchy guy that he thought the stock was actually put in the name of my former business partner even though I gave the funds. The company was formed out of state and it looks like it was dissolved by that state for failure to file annual reports. Any suggestions or did I just lose the investment?
The second company is a legitimate business which required that I be a member of an organization in order to purchase/own the stock. I acquired $32,500 in stock in 2023. I’m now likely moving on from the group and am required to sell the stock back to the company. The issue is the Board last valued the company in 2021 so, even though it should be worth more, the company will only pay me the $32,500 I paid since they have the value as the same. Is that the way this normally works? Is there a requirement for the company to update their valuation or can they choose when they want to?
Any advice/suggestions would be appreciated.
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