Your three old daughter could list her hosting company for sale with these people. Doing no due diligence they e-mail out a list trying to put together a seller and buyer. Fees are never set but they will in one breath tell you 2% of annualized revenues and in the next breath say you owe them 5%. They are not a business broker in the true sense of the word. What they do know how to do is refer a hosting company for sale and a buyer and expect a fee. No contract is ever issued.
I'll give you two instances in hopes you look in a different direction for selling your company. They advertised a company saying it did 98K a year when in fact it did only 12K. Yes they base there fees on the now escalated fee of 5% using the 98K figure. The next one was a company they said did 760K a year. What they didn't tell you was the seller raised his rates 60% three months before the sale. Never coming forth and no mention was the amount of cancellations and credit card charge backs that happened over the next months.
Their misrepresentations cost me 500K, neared bankruptcy, and a defunct hosting company. Now to make matters and even more interesting their trying to draw the last drop of blood and suing. I have two hopes and that is they spend a ton of money on legal fees. Hopefully the authorities will step in and stop these people so this doesn't happen anyone else. I often wonder if there was some collusion between them and seller. Virginia must be a safe haven for these people by that I mean all you have to do is put up a sign and you'r in business.
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