I realize it’s not the best climate for small businesses, especially recent start-ups. But when the whole goal of your business–the sole purpose for its existence–is to process membership dues from youth sports clubs? Then you might not want to spend those dues on your own failing company.
Terry Drayton, CEO of Count Me In, is accused of some pretty awful things. A Montclair, NJ., soccer club is owed $142,000. An Anchorage skiing group is down $150,000. And a Seattle baseball league is out $70,000. Where’d the money go? According to a lawsuit filed against Drayton, he has admitted spending the money on paying off his company’s own debts, and buying hardware and software.