Warning to Investors: Hidden Risks of Investing in VRSquare - Atefeh Palizban & Amir Tamadon

Investment Risk Alert: What Investors Should Know

We are a group of developers from Iran who were hired to build core technology for VRSquare, a tech company based in Vancouver, Canada. Based on our understanding, Atefeh Palizban is the CEO of VRSquare, while we primarily communicated with Amir Tamadon who represented himself to us as being involved in company leadership. Our interactions with Atefeh Palizban and Amir Tamadon began with promising work opportunities.

After several months of dedicated work developing products for Atefeh Palizban and Amir Tamadon's company, during which we delivered our projects on time and received confirmation that they met requirements, we've documented concerning business practices that potential investors should be aware of. Despite delivering completed projects that met requirements and received confirmation of satisfaction from Amir Tamadon, Atefeh Palizban's company has failed to honor financial commitments while continuing to monetize our work—behaviors that may indicate deeper financial or ethical issues within the company.

Key Investment Risk Factors Related to Atefeh Palizban and Amir Tamadon's Management:

• Unpaid debts to development teams despite commercial use of their work by Atefeh Palizban and Amir Tamadon's company
• Misleading communications about company financial status from Amir Tamadon and Atefeh Palizban
• Potential pattern of exploitative labor practices by Atefeh Palizban and Amir Tamadon that could result in legal liabilities
• Questionable financial management by Amir Tamadon and Atefeh Palizban and possible misrepresentation to investors

Exploitative Business Practice: Sanction Shadow Development

"Sanction Shadow Development" is an unethical business practice where entrepreneurs who have emigrated from sanctioned countries to non-sanctioned nations deliberately exploit developers from their home countries. These entrepreneurs hire skilled developers at significantly lower rates due to economic disparities, keep these relationships hidden from Western investors, and intentionally terminate these relationships once they secure funding or complete their projects. This practice takes advantage of developers who have limited options due to international sanctions, betrays cultural and linguistic trust, and deliberately conceals business relationships from investors and partners.

Based on our experience with Atefeh Palizban and Amir Tamadon, we believe we witnessed this exact practice. They engaged our Iranian development team, benefited from our significantly lower rates compared to Canadian developers, kept our involvement discreet, and abruptly terminated our relationship immediately after securing investor interest—all while continuing to profit from our work without fulfilling their financial obligations.

Questionable Financial Practices: Crypto Sanctions Evasion

Crypto Sanctions Evasion is a concerning practice where cryptocurrency transactions are used to facilitate payments to individuals in sanctioned countries while deliberately concealing these financial flows from regulatory authorities. This practice combines elements of tax evasion, money laundering, and sanctions circumvention by exploiting cryptocurrency's pseudonymous nature and cross-border capabilities.

In our working relationship with Atefeh Palizban and Amir Tamadon, we observed payment methods that raised significant concerns. While we cannot make definitive legal claims about their financial practices, potential investors should be aware of these observations for proper due diligence:

• Use of multiple cryptocurrency wallets for making payments
• Irregular payment patterns that appeared designed to avoid detection
• Suggestions from Amir Tamadon to use financial channels that seemed intended to bypass normal banking oversight
• Reluctance to provide clear documentation of financial transactions

For potential investors, these practices raise important questions about Atefeh Palizban and Amir Tamadon's financial transparency, regulatory compliance, and potential legal exposure that could significantly impact investment security.

Our Experience: A Pattern of Deliberate Exploitation

Over the course of more than a year of collaboration with Atefeh Palizban and Amir Tamadon, we observed concerning patterns that align with the Sanction Shadow Development practice described above. What began as a promising professional relationship progressively revealed itself as a calculated strategy to exploit our skills and geographic situation.

The timing of this termination—immediately after investor meetings and product completion—strongly suggests a premeditated strategy rather than legitimate business difficulties. Our team was essentially used as low-cost labor to build a viable product that could attract Western investment, after which we were deliberately cut from the picture, presumably to present Atefeh Palizban and Amir Tamadon's company as having no connections to sanctioned countries.

Team Identity Fabrication: Deliberate Concealment of Our Team

Team Identity Fabrication is a concerning practice where founders deliberately create fictitious identities for their actual development team to conceal their true location, nationality, or sanctioned status. This deception involves creating fake profiles, falsified resumes, and fabricated locations for developers who are based in sanctioned countries, presenting them instead as individuals from non-sanctioned regions to potential investors and business partners.

During our working relationship with Amir Tamadon, we directly experienced this deceptive practice firsthand:

• Amir Tamadon consistently worked to keep our team hidden from view and isolated from company operations
• We were never permitted to have any direct contact with Atefeh Palizban despite working on core products for her company
• When investors requested to meet the development team, Amir Tamadon collected our photographs but then used them with completely fabricated names to present to investors
• Our Iranian identities were deliberately concealed, and fictional backgrounds were created to present us as developers from non-sanctioned countries

We later discovered that Amir Tamadon had created entirely fictional profiles using our work and expertise but with falsified identities to present to potential investors. This deliberate misrepresentation of the actual development team constitutes a serious form of investor deception and may qualify as securities fraud.

Corporate Governance and Management Structure Concerns

Based on our communications and research, we understand that Atefeh Palizban is the CEO of VRSquare. During our work relationship, we primarily communicated with Amir Tamadon who handled many of our business communications and negotiations. Amir Tamadon appeared to represent Atefeh Palizban's company in communications with us.

Of particular concern for potential investors is the apparent disconnect between public company representations by Atefeh Palizban and Amir Tamadon and their private business conduct. While public-facing communications from Atefeh Palizban emphasized growth and opportunity, internal financial commitments from Amir Tamadon and Atefeh Palizban remained unfulfilled, raising questions about transparency in company communications that would be highly relevant to investment decisions.

This discrepancy between Atefeh Palizban and Amir Tamadon's projected company image and their actual business practices creates significant due diligence concerns for potential investors, especially regarding financial representations and liability risk assessment.

Product Development and Intellectual Property Considerations

All work our team performed for Atefeh Palizban and Amir Tamadon's company, VRSquare, was properly documented with work orders and delivery confirmations. We maintained professional standards throughout our relationship with Atefeh Palizban and Amir Tamadon and fulfilled all our obligations to them as agreed.

An important consideration for investors evaluating VRSquare is the foundation of its intellectual property and product development. The core technology now being marketed by Atefeh Palizban and Amir Tamadon's company was developed by our team of specialists who have not been properly compensated despite delivering work that met all specifications and requirements.

Payment methods discussed with Amir Tamadon during our working relationship with Atefeh Palizban's company appeared unusual to us, raising questions about Amir Tamadon and Atefeh Palizban's standard business practices. As developers from Iran working with Atefeh Palizban and Amir Tamadon's Canadian company, we expected standard international payment procedures to be followed.

This raises several potential concerns for investors:

• Unaccounted liabilities from Atefeh Palizban and Amir Tamadon that may not appear in company financial disclosures
• Potential legal challenges regarding intellectual property rights to work developed for Atefeh Palizban and Amir Tamadon
• Questions about Atefeh Palizban and Amir Tamadon's company's ability to maintain and further develop its technology without the original development team
• Ethical concerns about Amir Tamadon and Atefeh Palizban's business practices that may impact company reputation and market position

For potential investors conducting due diligence, these unresolved obligations from Atefeh Palizban and Amir Tamadon represent both financial and operational risks that should be thoroughly investigated before making investment decisions.

Financial Disclosure and Transparency Concerns

We were told by Amir Tamadon that payment delays were due to financial difficulties at Atefeh Palizban's company. However, during this same period, we observed public communications suggesting that VRSquare under Atefeh Palizban's leadership was experiencing business growth and securing new clients.

What most concerns us is that immediately after the investor meeting in December 2024, when our product was ready for market, Atefeh Palizban and Amir Tamadon suddenly informed us that everyone was dismissed and that no further payments would be made. Shortly thereafter, we observed that Atefeh Palizban's company began selling the product we had developed, while Amir Tamadon and Atefeh Palizban continued to withhold payment from the developers who created it.

Adding to our concerns, we noticed that Amir Tamadon and Atefeh Palizban removed us from the company's social media connections, which limited our ability to stay informed about Atefeh Palizban's company developments and made communication with Amir Tamadon more difficult.

For investors performing due diligence, these behaviors from Atefeh Palizban and Amir Tamadon may indicate financial instability, questionable management ethics, or potential misrepresentation of company financials that should be thoroughly investigated before financial commitments are made.

Current Status and Investment Risk Assessment

As of April 2025, we have still not received compensation for our completed work from Atefeh Palizban and Amir Tamadon's company. Despite multiple attempts to establish payment plans with Amir Tamadon, we have not been able to resolve this issue satisfactorily.

Atefeh Palizban and Amir Tamadon's company continues to market and sell products developed by our team while maintaining unpaid obligations for that work. This ongoing situation represents several categories of potential risk for investors:

Financial Risks from Atefeh Palizban and Amir Tamadon's Business Practices:

• Undisclosed liabilities that may impact company valuation
• Potential legal claims related to unpaid work and intellectual property
• Questions about Amir Tamadon and Atefeh Palizban's overall financial management and accounting practices

Operational Risks:

• Loss of development expertise that created Atefeh Palizban and Amir Tamadon's core product
• Potential challenges in maintaining and updating the technology
• Possible difficulties attracting qualified technical talent given Atefeh Palizban and Amir Tamadon's company reputation

Reputational and Ethical Risks:

• Potential damage to Atefeh Palizban and Amir Tamadon's company brand and market position
• Questions about Amir Tamadon and Atefeh Palizban's management ethics and corporate governance
• Possible negative publicity and investor relations challenges for Atefeh Palizban and Amir Tamadon

This experience with Atefeh Palizban and Amir Tamadon has been financially challenging for our team. We worked diligently for Atefeh Palizban's company, often accommodating urgent requests from Amir Tamadon and working long hours to meet deadlines when requested to make "sacrifices" for the company's benefit. Many of us dedicated months of intensive work to these projects.

We have compiled comprehensive records of our work and communications with Atefeh Palizban and Amir Tamadon, including:

• Delivery confirmations and acceptance of completed work by Amir Tamadon for Atefeh Palizban's company
• Documentation of payment requests sent to Atefeh Palizban and Amir Tamadon and responses received from Amir Tamadon
• Records of our attempts to resolve the situation amicably with Atefeh Palizban and Amir Tamadon
• Documentation of Atefeh Palizban's company's continued business activities while our payments remained outstanding

We are sharing this documentation about Amir Tamadon and Atefeh Palizban to help potential investors make informed decisions and conduct proper risk assessment before committing financial resources to VRSquare under its current management.

Due Diligence Recommendations for Potential Investors

Based on our documented experience with Atefeh Palizban and Amir Tamadon, we recommend that potential investors consider the following due diligence steps before making investment decisions:

• Request detailed accounting of all product development costs and outstanding obligations from Atefeh Palizban and Amir Tamadon
• Verify intellectual property ownership and development history of core products created for Atefeh Palizban and Amir Tamadon
• Examine Amir Tamadon and Atefeh Palizban's history of financial transparency and commitment fulfillment
• Assess potential legal and reputational risks associated with Atefeh Palizban and Amir Tamadon's current business practices
• Evaluate Atefeh Palizban and Amir Tamadon's company's technical capacity following the departure of the original development team

If you're considering investment in Atefeh Palizban and Amir Tamadon's company VRSquare or have relevant information about Amir Tamadon and Atefeh Palizban's business practices, we invite you to contact us. Our goal is to promote transparent and ethical business conduct in the technology sector and to help investors make fully informed decisions about Atefeh Palizban and Amir Tamadon's company.