Friends at FC.. do you remember back in September when there some *interesting* things happened at Herbalizer headquarters, and then suddenly the founder and CEO (me) was gone?
MODS: this writing belongs here, not in a different thread. This IS about the product and its warranty, and directly affects Herbalizer users who spent a lot of money on a product that
should last them a long time.
It is time to share just a bit, because you need to know. In short, by the end of August last year, 8 months after launch, Herbalizer had just barely become profitable.. like by a few thousand dollars, not much, but at least profitable for three consecutive months and with steady positive growth. I felt good and that my startup would make it. And then.. we had our annual shareholder meeting Aug 23rd, and without any advance softening of the blow, the board of directors was changed under majority vote by Bob Pratt, Sheila Hoyt, Marianne Harmon and Stephen Harmon, and Brian Edwards. 13 days later I was fired from the company that I built, without severance (note to entrepreneurs, protect yourself first! ..I did not). So there I was, suddenly without the company that I spent over four years building and with no income, just personal debt that I used to float the company. So I sold my things and went on a road trip (with Herbie of course).
I'm the largest shareholder, owning 38%. And after the hostile takeover, knowing my somewhat desperate financial situation at the time, I was offered $50,000 for a total buyout. Hmmm.. does that sound like a fair deal for creating Herbalizer?
MODS.. hold on.. I'm getting to it..
So they stole my company and want me out for cheap which I refused, and in the mean time they discovered that they aren't doing well without me. Enter overpriced attorneys and lawsuits, fraud allegations, etc.. On Friday last week (3 days ago) I received notice that the company has assigned its assets to a third party for auction, and at the same time "1Ready, LLC" made a purchase agreement for those assets. 1Ready, LLC is owned by Marianne and Stephen Harmon (mentioned above). In this way they turned Herbalizer into a shell company, to remove all value of my stock and give to themselves any remaining assets (IP, product inventory, etc.). Unscrupulous? You bet! Why? Greed. Illegal? The courts will determine. Is there two sides to this story? Of course.
Yes, this shit is made for TV. Eventually I'll write a story called
Startups, Greed and the Business of Weed. In one respect, it is upsetting that all of my work was for this, but in another respect I'm loving the full journey of the entrepreneur! Sometimes you have to grab your balls and say
Fuck It!
So why am I telling you all this? Well, I am sorry to say that in conjunction with turning Herbalizer into a shell company, they are dissolving the business. This means that Herbalizer is going away. Support is going away. Accessories are going away. And,
the Herbalizer warranty will not be honored.
I suspect that by the end of this month your warranty will no longer be valid, if not sooner. And if you do have a warranty problem I suggest you get it serviced immediately if you can!
I felt compelled to tell, since the Herbalizer was my baby and a product I once endorsed.
below is a transcript from their attorney: