price was too low so they backed out of the IPO. I would have made a killing on the IPO. A couple of years later, they were in a cash crunch, and I was in a group of higher-paid middle mgt that were terminated.

I could exercise my options or give them up. I exercised the lowest priced options at a dime a share. but couldn't sell them until they went public, since they were a private company. Six months later, the owners created a holding company, sold the assets of the company to the new holding company, then declared the original company bankrupt and dissolved it. The shares I had purchased are worthless,