John Whitfield, attorney for Lawrence Holmes and Jason Myers, said Waide has spent $300-400,000 of the company's money on things like massages, iTunes and baseball tickets.
Waide's attorney, Todd P'Poole, said his client is the founder and majority shareholder of the company and has a right to use company credit cards for personal use.
The two sides met privately after four hours of testimony. Whitfield said Waide and his attorney agreed to employ a custodian to monitor the company's finances and agreed to immediately stop paying Waide his $100,000 salary.
Whitfield said the case will 'definitely' go to trial. P'Poole said he plans to prove Myers and Holmes benefitted more from the company than Waide.