Need advise/help as ine of the investor might be killing the company

Mga Sir and MaM, pahelp po sana.

Ganito po kasi, nag start po kami ng business. Ako, yung wife ko at si Investor. Ang role ko at ng misis ko, kami yung focus sa sales. Si Investor is sa financial and management of the other aspects of running the company. During the creating of SEC, may idinagdag sya. Isang Accountant at dalawang kamag anak nya. Minimum of 5 sa SEC kasi. Parang dummy nya yung kamag anak nya. Sya din nagbayad ng part namin para sa paid up capital, which is utang namin sa knya. So wala talaga kaming nilabas na pera para sa pagpapatayo nung company. Aminado naman ako dun. Pinagpapauna ko na para yung magiging advice nyo is fair din kay Investor.

Fast forward after 1 year, yung dalawang kamag anak nya walang participation sa company which is okay, kasi nga dummy. And yung profit sharing na usapan namin, di naman nabawasan yung samin. Kahit sa SEC, same pa din naman. So ok lang.

Ang sistema, after 1 year. Mas malaki na yung sales ni Investor. On our part aminado kami na mas naungusan pa nya kami kahit na forte namin yung sales. Ang problema, parang tinatago nya yung mga sales nya sa amin. Kaya pag nagcocompute na ng Income, madalas negative kami.

Dahil dun, parang tinatakot nya kami na isasara nalang daw nya yung company kasi hindi kumikita. Pero one time, nakita namin sa report ng isang tao namin na may delivery sya sa client nya (which is why bakit mas malaki sales nya samin dahil sa isang client na ito) na wala sa report. Monthly kasi meron kami reporting. Actually daily sya. Andun yung kung magkano puhunan, magkano binenta, magkano ang kinita, para kaninong customer at anung date nag order. Ginawa nya yung report for that month na same month kung kelan nag deliver yung tao namin dun sa client nya, wala yung sales nya para dun sa client nya, which is mali kasi dapat diba nakalagay yun dun.

Ang sitwasyon namin, wala talaga kami physical office. Nirerentahan lang namin yung busness address namin. So lahat ng dokumento nasa knya, Sya din kumakausap sa accountant (which is kawork nya dati sa ibang company). Kaya wala talaga kami access sa physical documents. Meron lang kami reporting online, sa google sheets. Naka base kami sa province at sila naman sa manila. So delivery, collection, sila gumagawa dahil sila yung nasa manila.

Ang mabigat pa, nabalitaan ko lang sa isang taong malapit dun kay Investor na nagpapatayo daw ito ng store. Guess what kung ano yung will be products ng store nya, mga produts na madalas bilhin sa company namin ng client nya. So naisip ko, baka kaya nya pinapatayo yun is para yung sales nya dun sa client nya, dun na lang ipasok sa pinapatayo nyang store at hindi sa company namin para masolo nya yung sales.

Ang sakin lang, ako kasi yung nagpropose sa knya nung business. Kumbaga di nya malalaman yung sistema kung hindi dahil sakin. Kung sino supplier, i mean yung buong network ng negosyo. Ako nagturo sa knya pano mag benta, pano kumausap ng supplier pati mismo pano gumawa ng formal quotation kasi in good faith ako na yung company namin is tulong tulong kami. Pero ang nangyari, dahil sya nga namumuhunan, tapos mas malaki pa yung pinapasok nyang sales sa company namin, parang feeling ko iniisip nya na di na nya kami kailangan. Kasi alam na nya pano patakbuhin kahit wala kami. Remember sinabi nya na magsara na lang daw kami kasi laging negative.

Ang tanong, dun sa mga nasabi ko na ginagawa nya, may mali ba syang nagagawa samin at anu yung pwede namin gawin para di na nya yun maulit or para ilabas nya lahat ng sales nya.

Thank you in advance po sa mga mag papayo. God bless po!

(My Tagalog is bad so perhaps I didn't understand something corect.)

"Dummy".
That's ILLEGAL made by the investor.

"Result".
Well. Unclear if the result is REALY negative or not.
Demand from the investor to get the bookkeeping AND all reciepts and such, and let an acountant chosed by YOU to check all.
Check if AMOUNT of bought and sold products suiit each other.
Do ALSO compare to all you know if all are in the book keeping.

..
What does the contract say?

On the SEC part, I just used the word Dummy because in reality, these persons he added doesn't have any participation in the company's operation, at all. It is him, my wife and I that are running the business. We also have another person but not a co-owner who handles delivery, collections etc.

On the part that we should demand book keeping, according to him, he will do the over all computation of the company and have it checked by our accountant that is also a co-owner. the problem is, this accountant is a friend of him and I do not know if the computation will be correct.

But on the part that we should get our own accountant, thank you on this advise and I will really take this in our consideration,

On the contract side, we do not have any contract, what we have is our Articles of Incorporation wherein our shares are indicated.

gpc091988 wrote:On the SEC part, I just used the word Dummy because in reality, these persons he added doesn't have any participation in the company's operation,

Ok. Then you can't use that against the investor
(Dummy is someone who get pay to do as an other say (and/or PRETEND to be part owner.)

gpc091988 wrote:
On the part that we should demand book keeping, according to him, he will do the over all computation of the company and have it checked by our accountant that is also a co-owner. the problem is, this accountant is a friend of him and I do not know if the computation will be correct.

Yes. That' why you demand it can be checked by an acounyant chosed by YOU. Best of the investor don't even know who it is, alttough it can be some problem to get ok for the book keeping to leave the office, because I guess the investor is some more responcible for BIR. IF that's a problem, it's rather ok to get copies of all and check that.

gpc091988 wrote:
On the contract side, we do not have any contract, what we have is our Articles of Incorporation wherein our shares are indicated.

I see. A fair share? (I mean if the book keeper is done corect.)