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[ applause ] and we are anticipating donald trump s arrival any moment. not sure if he s already in the hall. we are told that a while ago that he was on his way. he will make an appearance first at the liberty ball which is right above where we are. we ll bring that to you live. it is certainly what so many of the thousands of people who are here at the freedom and the liberty balls are waiting for. they want to see melania trump. they want to see the 45th president of the united states dancing the first dance with the first lady. another historic moment of what has been an extraordinary day. and john king, i mean, the amount of energy that those two must have, because i m exhausted ....
Have liberty balls. the issue was the cpsc said they weren t safe. children were following them. you never marketed them to kids, did you? no. no. bucky balls were always marketed and intended for adults. the product had five warnings on it, keep away from all children. and we had a very vigorous safety program to ensure that they weren t getting into children s hands at all times. give me a blow-by-blow. what happened exactly? well, the company started in 2009. we created a product called bucky balls, a partner and i. it really was the ultimate, you know, entrepreneur success story. we grew from a company with $1,000 each into a company that had 5,000 retailers selling our product. we were poised to do about $25 million in 2012 and working very, very closely with the consumer product safety commission at all times until july 12th, 2012, when they came to us and they said, we are suing you in federal in ....
Papers on the fast and furious. a house being washed away in a recent typhoon. watch this. brand new numbers show the storm killed at least 3600 people and injured more than 12,000. nearly 1200 people are still missing. anna? all right. thanks, clayton. it all started with $1,000 investment in high powered magnet. 2012 bucky balls was set to bring in 25 million in sales until the consumer product safety commission deemed the desk toy too dangerous to sell and the business was forced to fold. this wasn t enough for the cpsc. for the very first time ever, folks, they re going after an individual, suing the former ceo craig zucker for an estimated $57 million. zucker won t go down without making a fight. he is making his own legal move and joins us now this morning. good morning. good morning. these are a lot of fun. now that you ve had problems with these bucky balls, now you ....
we have taken a very unprecedented action and this week actually sued the consumer product safety commission back. we ve taken the issue into a federal court in maryland to determine that the cpsc and the government have no jurisdiction over us. we ve asked the court to help determine to create an injunction to come after me, but i think, you know, what you can learn in this case is that sometimes the government changes their mind and unfortunately in this case when they changed their mind the repercussions were that they decided an individual should pay that price, and i think that that is a scary place for entrepreneurs. yeah. i think people need to be careful of working with regulators if this is where they re going to act. where can we get information about liberty balls if we want to support you and enjoy the great toys. this is a product called liberty products. some t-shirts, other stuff. ....
Balls. we disagree with the commission s assessment and it is the first time someone took such an aggressive approach. steve: they want $57 million from you. i don t have that much money. i m still a very small business owner. i think the fight and the reason we launched a new campaign called united we ball. steve: plus you ve got these liberty balls. same thing but bigger, we re very concerned about the idea of the government trying to do away with limited liability for company officers and entrepreneurs. this means an individual who runs a company, lawfully following the rules, not breaking any law, can now be responsible for the company s actions. we and people in washington and business owners are concerned about it. we ve created a campaign to raise money to fight the commission. we intend to win and we intend to make sure that doesn t happen to any entrepreneurs ever again. steve: it is a crazy story. good luck. can i tell people ....