BrisbaneNorg

Former ex-CTO of Omnidrive provides clues

As more information surfaces, has a law been broken here? Trading whilst insolvent? Maybe not as Omnidrive's website is no longer. Omnidrive's CEO Nik Cubrilovic has a lot of explaining to do, for investors spanning 2 continents of Australia and Silicon Valley inthe US. Long known for his association with celebrity blogger "Michael Arrington" and Silicon Valley's hot shot Web 2.0 Investor Jeff Clavier...it seems the facade has fallen and the real picture emerges, with the recent explosive information about how much an investor is owed and has not even received the shares the angel investor paid for...

A comment posted by the EX-CTO of Omnidrive, Phil Morle on Read Write Web

I was CTO at Omnidrive from April through August this year. When I started, Nik Cubrilovic said there was $170K USD available and from this we collaborated on a technology strategy; hired a local engineering team in Sydney and strengthened the relationship with the Indian team. I now believe that this money we planned against didn't exist because I have never seen any of it.

When I finally left in August I had never been paid. Only some of my expenses were paid. The debts to me and debts I have personal knowledge of are around $AU200,000. The office manager, five Indian developers including the VP of Platform Development, the VP Engineering, the office manager, 2 QA testers, a designer and a web developer all ceased working for Omnidrive because they were not paid.

I also understand that a number of people left Omnidrive just before I started because they had not been paid.

In regards to Nik's response, as far as I know there is no one working at Omnidrive today. No one is supporting the customers. No one is developing version 1.0. The Wollongong and Sydney offices have been vacated.

Users pay for Omnidrive via a PayPal account which Nik uses as his personal account. On two occasions I know, this account was empty and servers were taken offline by the supplier because the bill was unpaid due to insufficient funds. Users in each case were told something different. e.g. It was a Denial of Service Attack: http://www.omnidrive.com/blog/2007/08/31/technical-difficulties-with-omnidrive/

I never saw any evidence that the $US170K existed. We were also told on many occasions that a number of investors had 'committed' but money never came. These so-called commitments were quite specific and the failure of money to arrive was almost a daily event.

One such event finally exposed the situation when we were told that a named investor had committed $US50K, he had wired the money to Australia and we had been given a transaction ID to prove it. More than a week passed and I finally contacted the investor directly over Skype and he told me that Nik hadn't even asked him to invest.

At this point I contacted those that I had been told were on the board of Omnidrive only to discover that there was no board.

A couple of weeks later I resigned.

I hope that this illuminates what happened at Omnidrive sufficiently to suggest that Nik's response above is dishonest at best.