said by networkengineer :

First law of investing: Never follow through with a bad investment. This so called 'Pre-IPO' sale was not a real sale. The 'directed share program' was not a stock sale, it was an offer to buy. BIG difference. period. No Argument, No additional info needed. End of story.

Second law of investing: Unless they have your signature or your money, the investment hasn't happened. Until you SIGN for the mortgage on your house, you can walk away. It doesn't matter what promises you made, until you sign, the deal isn't complete. It's the risk of being in business. period. Most people who sell property have had a sale fall through at the last minute. That's life. Period. No Argument, No additional info needed. End of story.

Third law of investing: Weaseling out of things is what separates people from the animals. Except the weasel, of course. Until the brokerage house gets a signature, a check, or transfers the OWNERSHIP of the stock, there is no deal. The reason this entire vonage thing is a non issue, is that the brokerage house NEVER TRANSFERRED THE STOCK to the investor. The brokerage house will NOT transfer the shares until it gets paid. That is the only fact that matters. Period. No Argument, No additional info needed. End of story.

Fourth law of investing: If you own it, you can sell it. Look at it this way, if the person sold the shares at 17 (short sale), then they are LEGALLY OBLIGATED to purchase shares at whatever price the market has, and provide those shares. The reason for the legal obligation is that the seller received payment. If the seller did not receive payment, then the sale did not take place. Period. No Argument, No additional info needed. End of story.