oldgrowth28
3 years ago
Bear in mind, Enable and subsidiary Sol Rayo were on par with Enphase back 15 years or so in the ultracapacitor segment. The defamation and interstate securities fraud charges sustained by the company, CEO David Walker and company officials were ultimately refuted in court, and punitive damages of $1.5 million against Steven Oshinsky, ostensibly an agent of some sort, were awarded. Mr. Oshinsky has shall we say friends in high places. Company understandably went underground, now shell or dark horse lotto or viable company with track record of successfully performing an NSF grant (Extending the lifespan of Li-ion anodes/cathodes (and incidentally preventing fires) by 30% with a spray-on nano coating) and bringing a solar rechargeable RFID device to market, remains to be seen. Under 250 Million Shares Issued and Outstanding.
$EIPC
hh718
4 years ago
Steven Oshinsky's story is an interesting one. While he was doing all he could to ruin Sol Rayo, steal their trade secrets, and discredit management, he took a wild cross-country trip. I know, because while researching his "efforts" and trying to figure out whose agent he was, he got in one-vehicle wreck on a gravel road in Iowa. Likely drunk at the time, he faced no consequences. My guess was that he was working for the Koch Bros. who were having a field day short-selling and destroying small companies working on the cutting edge of the green energy revolution. Yes the company has gone dark, but imo with good reason. I'm willing to bet that CEO David Walker still has something up his sleeve.
EIPC
mr_tech_russ
4 years ago
That judgement was many years ago
and they never collected anything from the guy. First of all they guy would have to have that amount of assets, the EIPC lawyer or investigator would have to locate the assets and the assets themselves would have to be able to be seized. Below are all the protected items in Florida. Also non-exempt assets could easily have been transferred to his wife, who in FL is NOT liable for her husband's debts, or simply hidden. It's pretty easy to avoid payment, there's even people who specialize in advising people how to do it.
The key assets that are protected from creditors in Florida include:
Homestead, with some acreage limitations.
The wages of someone who qualifies as head of household.
Annuities.
Life Insurance.
Retirement Accounts. For example: an IRA or 401k.
Tenants by entireties property when the judgment is separate.
Interest in a multi-member LLC with a properly written LLC operating agreement (but still subject to a charging lien).
Disability income.
$1,000 of value in a vehicle.
$1,000 of personal property (or $4,000 if you do not own a home).
Prepaid collect plans.
Various generic exemptions, such as health aids, medical savings accounts, and unemployment benefits.
Social security.
Some properly-drafted estate planning trusts protect the beneficiariesโ interest and inheritance from their creditors
hh718
4 years ago
Strongly disagree. Copying and pasting from Bababooyah's Post #1900 --
"A lawsuit involving Enable IPC subsidiary SolRayo, Inc. against Steven Oshinsky was concluded in February with the court awarding a $2.5 million judgment in favor of SolRayo. The Los Angeles Superior Court found that Steven Oshinsky had breached an oral contract with SolRayo and, in addition, โintentionally interfered with [SolRayoโs] existing economic and contractual relationships and misappropriated and disclosed trade secrets to third parties.โ The judge also found that Oshinsky โtook these actions intentionally, maliciously, and fraudulently and with a purpose and intention of causing severe harm and damage toโ SolRayo. Oshinsky did this personally and through the use of alter ego and front companies, including JMPW Management, LLC and Ram Capital Management Trust as part of his โscheme to damage and injureโ SolRayo. $1.5 million against Steven Oshinsky was awarded in actual damages along with an additional $1 million in punitive damages."
>> Had I been in CEO David Walker's position at this time, I might have ducked underground as well. Being targeted by corporate skullduggery is no fun and can fray the nerves of the most sensible of fellows. Again, the one time I spoke with Mr. Walker, he indicated he was moving ahead with research.
$EIPC
#AintOverTillSheSings!