Sorry for the confusion. I told him if he gave me £1500 he can have 10%.
But in fact it was actually less than 10% of the funds i put into it. around £17000. But him being a good friend i didn't mind.
The reason i delayed him actually becoming a shareholder was because he gave me the money bit by bit and making up excuses.
I know i was very foolish for allowing this.
I would work on a stall in a shopping centre and he would try to set up the website. the stall done terrible but in fact saved the life of the business as he admitted to me when i closed it he felt bad because he had basically done nothing to help as the website had only took £240 in them 6 months .the stall i worked on actually took £6000 and enabled us to change our product and become successful because the website really started to pick up once he started doing some work.
He believes i made the business fail and he made it work.
The problem with his family getting involved is he is discussing the business with them and not with me. allowing them to see the websites turnover and profits. The business started 31/08/2012. we actually spoke to the accountant a few weeks ago about putting him down as a shareholder and both agreed we both start to get the same basic salary of £650 a month.
Now he isnt happy and at first said he wants a bigger share, after i refused he said he wanted a salary that as far as i am concerned would completely drain the business of everything . the salary added up to £3400 a month.
I want to offer him a fair amount because i do appreciate the work he has done lately. i want to offer him £5000 and im on my own. I have contacted you first before i make him any offer to find out if he refuses could he sue me.