Posts by Loftus

Bart Stuck of Signal Lake is involved ... hVault employees beware

One of the NAB 2012 photos shows venture capitalist Bart Stuck of Signal Lake (wearing hVault credentials and an hVault nametag) pointing out the hVault system to Douglas Trumbull.

hVault employees and investors beware! Before investing time and money in any venture that involves Bart Stuck, please carefully look into his history with startups, especially InPhase. A previous Register commenter posted (31 Dec 2010):

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"Bart Stuck managed to single handily drive InPhase into the ground and cause a lot of damage by misrepresenting the funding situation to the employees for 11 months. Many people were driven into bankruptcy because they believed Bart's promises for money and then later (when they stopped believing) were faced with walking away from the promise of tens of thousands in backpay."

"More than 60 employees stuck it out for 11 months at minimum wage only to be laid off in February of 2010. {Acadia Woods] put $5M into the company in March in an attempt to revive the company with the expectation that Bart would match this and get the company back on its feet. Once again, Bart failed to deliver on his promise and is now claiming (to the courts) that he owns close to 50% of the company (an undelivered promise is worth 50% ownership... please!) which is a complete lie to keep things tied up in court long enough that he can find another sucker investor to put money into it and prolong the agony."

"[Acadia Woods] would have put more money in and rescued the technology, but with Bart in control of the BOD there is no way they were going to invest more money and see it go to waste. Bart got control of InPhase from NVP because of [Acadia Woods'] investment; not his own. [Acadia Woods] is fighting in court for things to be set straight, but unfortunately Bart's situation is more analogous to a prisoner on death row. The longer he keeps it dragged out in court the longer he can prolong his survival. When the court makes its final decision, he will be sued for everything he has. Unfortunately, this promising technology is collateral damage to a bad situation all stemming from false promises and manipulation on the part of Bart Stuck.

InPhase was close to launching this technology. Yes, there were bugs to work out and manufacturing issues to solve, but what new technology doesn't have this. History should look back on InPhase's attempt to develop this technology and it will see how greed and manipulation caused a promising technology to fail. That is the travesty in this whole situation."

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hVault employees - If Bart Stuck asks you to take a cut in pay because the money is coming "in just a few weeks" run as fast as you can. Month after month he stood in front of dozens of desperate InPhase employees whose pay had been slashed to minimum wage promising the same thing. There was always just one more hurdle until the papers were signed by a mysterious overseas conglomerate. At one point, the lawyers were on the plane back from Europe with the signed papers. Nothing ever materialized. In short, he lied. Over and over. Do your research and due diligence and see for yourself how trustworthy Bart Stuck is when it comes to employees whose lives he ruined. Can *you* stomach 11 months at minimum wage?