CityGuru under attack? Founder Drew Morrison’s reputation at stake? 2015 has certainly been a year to make shareholders flinch as new information continues bubbling to the surface.
Most of this information has been there all along; it is only now that anyone knew to inspect it closer. This is the nature of conducting an investor’s research, or Due Diligence. One piece of information often leads to another piece of information and before long–an entire image begins to emerge.
This was the intent of a few investors when they decided to create and build The CITYGURU Investor website. It was our intent to create a one-stop information depot for current and would be CityGuru investors, shareholders, and creditors where all interested parties could pool their own Due Diligence for free access to all.
As such, we welcome the contributions from anyone (CityGuru investor or not) who wishes to post their thoughts and perceptions as well as Comments to our own posts.
This week, we received correspondence from one of our own fellow investor/shareholders who feels we have over-stepped our right to share information. Actually, we were reprimanded by a fellow investor.
We are publishing the letter in its entirety while protecting the identity of the Investor. It has not been edited and reads just as it did when we received it.
Of course, we replied to it, just as we now invite YOU to reply either by adding your own comments at the bottom of this post, or forwarding your blog contributions.
“As a fellow shareholder of On The Go Technologies/CityGuru, Inc. I am grateful for the Due Diligence you are sharing with us. My own research pales in comparison to yours.
While I and other fellow shareholders share in your concerns over many of the issues you bring to light here, we also feel this information is rather sensitive information that is better kept among those of us who have a need to know. Some of your blogs are nothing more than airing dirty laundry which can only hurt all of us who are heavily invested in CityGuru.
For example, this can only discourage new investors from joining us at a time when the company desperately needs an infusion of new cash. This blog makes it seem that there is dissent in the ranks with serious doubt over Drew Morrison’s ability to lead it. It also encourages more legal actions not just against our founder, but the company as well. Drew’s current litigations are already preventing any possibility of distributions to shareholders.
We are not saying that we should ignore these problems and issues—only that we should use more discretion in dealing with them rather than airing them to the Internet.”
The CITYGURU Investor reply:
Thank you for your suggestions. We are particularly appreciative of the fact that you are a fellow CityGuru investor and/or Shareholder and it is with the highest respect for your opinions that we reply to your letter.
First, if there seems to be any division in the ranks, it is only because we as Investors/Shareholders have differing opinions between those who are content with waiting for Drew Morrison to deliver on empty promises, and those who demand immediate remedial action to re-organize and set this company on a more stable path.
Unlike some of our fellow investors you have spoken who feel this is “airing our dirty laundry”, other fellow investors have chosen to be more proactive by creating this site for the protection of YOUR investment. Until we published this site, all of us were experiencing a serious lack of accurate information and transparency.
Even now there is no cohension, coordination or communication among CityGuru Investors/Shareholders. Previously, this collectively worked against us by keeping us separated, and spoon-fed selective information that had been filtered and sanitized. As we are sure you will agree, we do not filter or sanitize the facts here.
Even now, certain Shareholders hesitate to demand theirs Shareholder Rights out of fear that “making waves” will only jeopardize their investment money!
The CITYGURU Investor has closed the gap that kept us separated and from communicating with accurate information!
Yes, we realize our posts may discourage others who might otherwise invest blindly in our company and founder. But, we have to honestly ask ourselves: “How many of us would have invested our savings in Drew Morrison-CityGuru had this same information been available to us at the time we were instructed to wire our funds to Morrison?” Even with this information there are those of us, such as yourself, that hold Drew Morrison and his vision in high enough esteem that you would have wired your funds to him anyway. This is the way it should be—but each investor is entitled to go into any investment with his/her eyes wide open.
Please recall the Mission of The CITYGURU Investor. By fulfilling this mission, we may actually being sparing CityGuru and founder Drew Morrison from further legalities by discouraging new investors who might otherwise make legal claims of their own, accusing misrepresentation and conversion!
Drew Morrison may argue that the company would be in a better financial standing were it not for his own litigation woes, but we should be reminded that Drew Morrison’s litigation woes are self-inflicted wounds. The reality we all have to face is: even should his legal problems have never occurred—we all would still be wondering, even after 5 years, what happened to our money and when might we expect a return! If only there were accounting records, Morrison’s track record would speak for itself!
Yes, it may look and smell like dirty laundry, but it is ours to clean up. Until we can re-organize this company with a professional and credible leadership to lead us from a Sole Proprietorship to a real corporation, this site may be the only means for you to keep yourself fully informed!
We would ask YOU and other fellow Investors/Shareholders to join US in keeping the lines of communication open; in sharing all Due Diligence; enough that we can perhaps come together to help ourselves to save ourselves!
What do you think? Please leave a comment, or subscribe to email alert as there are a LOT more news coming soon!