What company is GASCO?

The owner of my company will not pay me or anyone else in the company, what should we do?

  • In early August 2010 I first met with the owner of my current company about finding rental space for a start-up business, he was interested in starting a medical marijuana business in CALIFORNIA and needed space. After meeting with him several times, he offered me a position working at his new company as a upper level executive. At the time he was undecided about what type of medical marijuana business to open, eventually he decided to open an analytical laboratory for medical marijuana. I signed a general non-disclosure (bought off rocket laywer.com) that only covers business start-up plans and business opportunities. The company officially opened April 1st 2011, but we had been working on the project since November of 2010. Before the company opened, the owner had agreed to pay me $8,500 per month on 1099 basis, since the company has opened, I have not been paid for any of the work I have completed (on average 25-30 hours per week), and he has not given me anything in writing or independent contractors agreement, I recently filled out a 1099 but that’s all I have filled out with the company. There is a total of 5 individuals In the same situation as myself, When we approach the subject of payment and contracts with the owner he says that we are all partners and shareholders in the business and we don’t need anything in writing, however we have not signed anything that states how much equity we each have in the company, nor have we received any payments . We each have a company card and all expenses are paid i.e. food, gas, lodging, car repairs etc. but we are at a point where we either need it in writing that we are equity partners or payments, is this legal? What should we do? The company is not quite profitable yet, and I could understand not being paid if I were an equal partner. Any help will be appreciated.

  • Answer:

    Hey m8 you go threw the legal way but if this happend to me i would have went and got a basball batt and broken both his legs and arms then tell him he has 1 hour to get the money tell him to call who ever he needs to to make it happen You cant mess with some1z money What a ****

ryan g at Yahoo! Answers Visit the source

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"on a 1099 basis" Um, do you realize that wasn't legal, right? From the description you are either an employee or an owner, but not a contractor. "I recent filled out a 1099" Unless you are the person in charge of cutting checks, you never fill out a 1099-Misc for yourself. Besides, if you haven't gotten paid, you have no income. "we are all partners" Egad, he's learning a vocabulary and has just told you that he's going to tell his accountant this on 4/15/2012, get an extension and then hit you with 1065 k-1s on 9/15/2012 telling you that you had X income during the year. Without proper accounting, any money you receive on those company cards is likely to be income. At any rate, it's time to go to court. He can't just decide to make you all partners.

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