What is the true financial condition of Vox? Frankly, it appears NO ONE, including management, really knows. However, it appears a new repayment schedule for the long overdue tax revenue has been arranged. Most of Vox’s operating Costs and Expenses are known or easy to estimate.

But that’s not enough. The announcement about the Fundraiser Blues Extravaganza to Save Vox is a strong indication that recent revenue figures are too low to meet current monthly expenses. In fact, holding the fundraiser suggests the NY Dept of Finance is holding a sword over Vox in the form of demanding a one-time major repayment — or else.

Coincidently, Hicks slithered out of his ownership role at just the moment the responsibility of ownership might have turned into a big personal tax liability. Hicks included no relevant details about the source of the $10,000 he received for his Vox equity. Thus, the transaction is immediately a murky affair.

However, as any flim-flammer knows, when you can sell a worthless item for $10,000, you take the deal, especially if the sale indemnifies you against future liabilities related to the worthlessness of the thing that has been sold.

Prediction: After a year of wrestling with the Vox fraud and getting paid in worthless stock, Debi Ryan will begin looking for a new job that utilizes her management skills and compensates her fairly. With this experience on her resume, she can show prospective employers she is an accomplished problem solver and manager.

“An offer was made to me to buy out my shares for $10,000. After talking to Debi, I decided to take the deal, and also donate 1/3 back to the company, donate 1/3 to Debi who has worked this year for stock.”

Is this the final rip-off? Or is there more to come? Usually running a business into a ditch, defrauding investors, defrauding the Department of Taxation and stiffing vendors is enough to force the offender into forfeiting his stake for ZERO Dollars. Instead, Hicks has bamboozled people again.

Founders generally get their stock for free — it is their compensation for delivering their brain-child. Thus, paying Hicks to buy out equity he obtained for nothing is yet another blunder.

Creditors should scream. The guy who owns the equity is the guy with the claim on the Residual Value — in other words, the value remaining AFTER all the other bills are paid. AFTER the creditors are paid. Hicks is absolutely the LAST person in line when it comes to getting money out of the business.

Once again, this is why bankruptcy was the way to go. In bankruptcy all equity is cancelled and the creditors get in line to get paid. Following that, everyone starts fresh.

Instead, hapless investors and overburdened customers were/are taken to the cleaners for $120,000.