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2014年8月15日[URL=http://www.spss.co.uk/ralph-lauren-mens.html][IMG]http://www.nwlc.co.uk/Ralph-Lauren/13561979653.jpg[/IMG][/URL]
Care [URL=http://www.spss.co.uk]ralph lauren shorts[/URL] firm tangled in legal snarls
Biolustr is touted as a revolutionary hair care product that repairs tresses damaged by chemicals and styling tools.
Too bad it can’t straighten out the mess that’s unfolded at [URL=http://www.spss.co.uk/ralph-lauren-mens.html]cheap ralph lauren uk[/URL] the san antonio company that owns it.
Biolustr inc.Officials enticed about 400 investors with prospects of millions in sales from the product and plans for a public offering and a lucrative payoff from an eventual sale to l’oreal, proctor gamble or some other giant in the personal products industry.
None of that happened.
Now biolustr inc.Is fighting for its survival, entangled in legal disputes and corporate infighting.Chief operating officer has accused his boss, ceo michael"The matador"Mata, of using investor money to pay for trysts with women he met in strip clubs, to prop up his girlfriend’s business and to save his home from foreclosure.
In february, buchanan, acting on behalf of biolustr inc., staged a mutiny of sorts by suing on behalf of the company to have Mata booted.
"Due to his actions and financial stress, as well as what i can only deem to be a sex addiction, it is my opinion that is unfit"To be ceo, buchanan said in a sworn statement in the case.
Mata, in interviews, countered that buchanan embezzled at least $200, 000 from biolustr inc., using company money to pay for cruises and a Cadillac Escalade for his wife.
In court papers, buchanan accused mata, who’s also married, of using corporate money to pay for hotel rooms so he could"Rendezvous with women he would meet working at strip clubs. "
Any money that he received was for compensation owed to him, mata responded.
"If the worst thing that he says about me is that i’ve had affairs with women, and i’ve used my own money for them, that’s not a crime,"Mata said.
Buchanan also alleged mata gave $10, 000 in investor money to"One of his girlfriends"To help her business.
"Yeah, i did, absolutely,"Mata said.But he added,"It’s my money, not company money. "
The lawsuit to oust mata was tossed on june 12.
Mata, meanwhile, accused buchanan of opening a bank account in the name of another company, national consolidated, to embezzle at least $200, 000 of biolustr inc.Funds.
Buchanan denied he misused corporate funds.
Buchanan said he set up the account so mata wouldn’t be able to drain it as he had done with biolustr inc.Accounts.
Shareholder, a san antonio mechanic, leveled blame for biolustr inc.’s troubles on both Mata and Buchanan.
"In the final analysis, you have two knuckleheads who stumbled upon a pot of gold,"Presti said. "They allowed themselves to be overtaken by this notoriety and, obviously, the money, and money is the root of all evil. "
Mata acquired rights to biolustr from the inventor for $50, 000 in the early 2000s.He eventually obtained a patent for the product, later assigning a majority interest in it to the company.
Biolustr a hair care system comprised of a shampoo, instant hair repair treatment, maintenance treatment and conditioning sealant launched commercially in 2004.
Early results were promising.The product received accolades from such fashion and lifestyle magazines as glamour, cosmopolitan and vogue, according to a private placement memorandum(Ppm)Given to prospective investors last year.Biolustr inc.But buchanan said sales were closer to $876, 000 that year.He couldn’t explain the discrepancy.Sales in 2010 were $905, 000, he added.
"These guys could have made [URL=http://www.spss.co.uk/ralph-lauren-mens.html]Outlet ralph lauren shirts[/URL] millions if they did it right,"Shareholder said.
Instead, sales plunged to just more than $100, 000 last year.Buchanan explained that the focus of the company turned to raising money from investors rather than on continuing to build sales, he said.
A decision to pull distribution from beauty supply distributor and start its own sales proved"Disastrous. "
But there were other issues.
Mata, in a june interview, conceded that even though he was ceo, he was not overseeing the day to day operations.Through another company, he was selling a line of polo shirts online featuring a matador and bull logo.
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Care [URL=http://www.spss.co.uk]ralph lauren shorts[/URL] firm tangled in legal snarls
Biolustr is touted as a revolutionary hair care product that repairs tresses damaged by chemicals and styling tools.
Too bad it can’t straighten out the mess that’s unfolded at [URL=http://www.spss.co.uk/ralph-lauren-mens.html]cheap ralph lauren uk[/URL] the san antonio company that owns it.
Biolustr inc.Officials enticed about 400 investors with prospects of millions in sales from the product and plans for a public offering and a lucrative payoff from an eventual sale to l’oreal, proctor gamble or some other giant in the personal products industry.
None of that happened.
Now biolustr inc.Is fighting for its survival, entangled in legal disputes and corporate infighting.Chief operating officer has accused his boss, ceo michael"The matador"Mata, of using investor money to pay for trysts with women he met in strip clubs, to prop up his girlfriend’s business and to save his home from foreclosure.
In february, buchanan, acting on behalf of biolustr inc., staged a mutiny of sorts by suing on behalf of the company to have Mata booted.
"Due to his actions and financial stress, as well as what i can only deem to be a sex addiction, it is my opinion that is unfit"To be ceo, buchanan said in a sworn statement in the case.
Mata, in interviews, countered that buchanan embezzled at least $200, 000 from biolustr inc., using company money to pay for cruises and a Cadillac Escalade for his wife.
In court papers, buchanan accused mata, who’s also married, of using corporate money to pay for hotel rooms so he could"Rendezvous with women he would meet working at strip clubs. "
Any money that he received was for compensation owed to him, mata responded.
"If the worst thing that he says about me is that i’ve had affairs with women, and i’ve used my own money for them, that’s not a crime,"Mata said.
Buchanan also alleged mata gave $10, 000 in investor money to"One of his girlfriends"To help her business.
"Yeah, i did, absolutely,"Mata said.But he added,"It’s my money, not company money. "
The lawsuit to oust mata was tossed on june 12.
Mata, meanwhile, accused buchanan of opening a bank account in the name of another company, national consolidated, to embezzle at least $200, 000 of biolustr inc.Funds.
Buchanan denied he misused corporate funds.
Buchanan said he set up the account so mata wouldn’t be able to drain it as he had done with biolustr inc.Accounts.
Shareholder, a san antonio mechanic, leveled blame for biolustr inc.’s troubles on both Mata and Buchanan.
"In the final analysis, you have two knuckleheads who stumbled upon a pot of gold,"Presti said. "They allowed themselves to be overtaken by this notoriety and, obviously, the money, and money is the root of all evil. "
Mata acquired rights to biolustr from the inventor for $50, 000 in the early 2000s.He eventually obtained a patent for the product, later assigning a majority interest in it to the company.
Biolustr a hair care system comprised of a shampoo, instant hair repair treatment, maintenance treatment and conditioning sealant launched commercially in 2004.
Early results were promising.The product received accolades from such fashion and lifestyle magazines as glamour, cosmopolitan and vogue, according to a private placement memorandum(Ppm)Given to prospective investors last year.Biolustr inc.But buchanan said sales were closer to $876, 000 that year.He couldn’t explain the discrepancy.Sales in 2010 were $905, 000, he added.
"These guys could have made [URL=http://www.spss.co.uk/ralph-lauren-mens.html]Outlet ralph lauren shirts[/URL] millions if they did it right,"Shareholder said.
Instead, sales plunged to just more than $100, 000 last year.Buchanan explained that the focus of the company turned to raising money from investors rather than on continuing to build sales, he said.
A decision to pull distribution from beauty supply distributor and start its own sales proved"Disastrous. "
But there were other issues.
Mata, in a june interview, conceded that even though he was ceo, he was not overseeing the day to day operations.Through another company, he was selling a line of polo shirts online featuring a matador and bull logo.
source: please [URL=http://www.spss.co.uk]click[/URL]
Related Articles:
Linked Articles
[URL=http://liushu.hazblog.com/admin.php?ctrl=posts&tab=posts&blog=1#post_10]http://liushu.hazblog.com/admin.php?ctrl=posts&tab=posts&blog=1#post_10[/URL]
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