I did contact Thankam by phone at a number that I found for her on the web. She informed me that she is a director for RC Marketing, but that it is illegal for me to contact her. She also threatened to call the FBI and said that she would see me in court as I had no right to contact her as a director for a corporate entity.
Wednesday, December 17, 2008
Another Person Added to the RC Marketing Corporate Resolution
A quick search of the public records in New Zealand shows ANOTHER director being added to the Corporate Resolution by the name of Thankam Vaslilakos. A Google search turns up multiple articles about this lady and some transactions that she has been involved in, including this one.
Thursday, December 11, 2008
A Conversation with Westpac Bank
One of the four clients involved in the initial contracts received a letter from Gil on Citi letterhead indicating that paperwork was forthcoming on a Portland Cement deal. When I contacted the phone numbers on the paperwork that we received, I got overwhelming confirmation that we are probably not going to see our money EVER. The phone number to the Sr. Hedge Fund Manager is not correct. So, I contacted the banker at Westpac in New Zealand. The banker there confirmed for me that Paul Douglas and RC Marketing had opened accounts over two years ago with Westpac, but had not done any deals and had not deposited any funds. He said that the bank is "not happy with them" and that they had received "dribs and drabs" of paperwork via SWIFT, much of which had been forwarded to the bank's fraud investigation unit due to the unrealistic nature of it all. This banker had no faith in RC Marketing ever getting a deal done, much less us getting our money back.
Gil Freire continues to send emails to the clients indicating that they will be funded "this week". Week after week, the same emails that all is going well and we will be funded this week. This week never seems to come.
I have also attempted to contact several of the business contacts that I know RC Marketing has to make them aware of the situation. However, I do not get a response from any of them. So, I don't know if they are involved in the bigger scheme or if they are just in denial as to the facts of what is really going on. These gentleman have scammed at least $200K out of people that I know about and I have no idea if there are others around the world as well. They have not performed on any of their promises or contractual obligations in the 14 months that we have been working with them and now are sending documents that are clearly not legitimate out as "proof" that they are really working deals.
Gil Freire continues to send emails to the clients indicating that they will be funded "this week". Week after week, the same emails that all is going well and we will be funded this week. This week never seems to come.
I have also attempted to contact several of the business contacts that I know RC Marketing has to make them aware of the situation. However, I do not get a response from any of them. So, I don't know if they are involved in the bigger scheme or if they are just in denial as to the facts of what is really going on. These gentleman have scammed at least $200K out of people that I know about and I have no idea if there are others around the world as well. They have not performed on any of their promises or contractual obligations in the 14 months that we have been working with them and now are sending documents that are clearly not legitimate out as "proof" that they are really working deals.
Monday, December 1, 2008
November 27, 2008
At approximately 2am EST, I was able to get Paul on the phone in New Zealand. After numerous emails from Gil to all parties involved over the past two weeks, I decided to try to get to the bottom of all the promises of funding that Gil had made to us. Paul was extremely rude and told me that "people in Europe are furious with me and want to come to the USA to see me." He also told me that was the only one standing between me and the "people in Europe." I informed Paul that I was not scared of his threats and that I would be happy to tell anybody that wanted to listen our story. He also told me numerous times during the conversation that we would have been funded weeks ago had it not been for my blog and that I am my own worst enemy. I reminded him that this blog was published on July 31, 2008, a full eight months after the last of our initial four deals was supposed to be funded and that I really didn't think that he could use this as an excuse. He used some profane language and hung up on me telling me never to call his number again.
Over the weekend, we were told by Gil that we would get an update today, Monday, December 1, 2008...it has now been a full year past when the last of our four deals was supposed to be funded and we have not even seen partial funding on any one of the four deals or repayment in any way to the group from whom Paul and Gil "borrowed" $100K back in April 2008, promising repayment within 3 weeks.
Over the weekend, we were told by Gil that we would get an update today, Monday, December 1, 2008...it has now been a full year past when the last of our four deals was supposed to be funded and we have not even seen partial funding on any one of the four deals or repayment in any way to the group from whom Paul and Gil "borrowed" $100K back in April 2008, promising repayment within 3 weeks.
Thursday, November 13, 2008
A phone call from Gil...
Late last night, I received a phone call from Gil. He gave me a myriad of excuses as to why this isn't done and told me that it is "my fault" because of all of the people that I have recently contacting regarding our situation. He said that this blog and my emails have "slowed them down" and made it difficult to do business.
Last week, I sent out an email to every email address that Paul and Gil had ever given to us or that was in any message that had ever been forwarded to us. Paul contacted Patrick to complain about what I was doing, but did not send any funds or close these deals.
Last week, I sent out an email to every email address that Paul and Gil had ever given to us or that was in any message that had ever been forwarded to us. Paul contacted Patrick to complain about what I was doing, but did not send any funds or close these deals.
Tuesday, October 28, 2008
October 26, 2008---More of the same
Here is another promise of "this week" from Gil...same thing we have heard over and over again throughout the past year...it is now Tuesday here in the US and going into Wednesday in New Zealand...still no definitive funding timeline, nor proof of funding capability.
YES YOU I HAVE BEEN SICK A BAD FLUE AND HURTS TO TALK SO ILL CALL YOU THIS MONDAY AFTERNOON...AND TAKE THIS FOR WHAT IT WORTH WE ARE LOOKING REAL GOOD THIS WEEK REAL GOOD..I JUST NOT IN THE MOOD TO HEAR YOU CRAP BUT ARE THERE
***FYI--the client that this was sent to did not receive a call or any communication yesterday afternoon, although numerous attempts were made to contact both Paul and Gil***
YES YOU I HAVE BEEN SICK A BAD FLUE AND HURTS TO TALK SO ILL CALL YOU THIS MONDAY AFTERNOON...AND TAKE THIS FOR WHAT IT WORTH WE ARE LOOKING REAL GOOD THIS WEEK REAL GOOD..I JUST NOT IN THE MOOD TO HEAR YOU CRAP BUT ARE THERE
***FYI--the client that this was sent to did not receive a call or any communication yesterday afternoon, although numerous attempts were made to contact both Paul and Gil***
October 21, 2008
After numerous inquiries by all parties involved as to why we were not getting any answers and why we still did not have funding, this was the response that was sent by Gil.
MY THROAT HURTS TO TALK BUT WE ARE FINE THE BANK WELL IS JUST SLOW GETTING THIS TO B OF A ILL SHOULD REALLY HAVE THIS THERE TOMORROW...ILL CALL YOU AT 1130AM ...OK HANG IN THERE..WE ARE ALMOST DONE..
**It is now October 28 and we still do not have any funding, nor a definitive timeline for funding***
MY THROAT HURTS TO TALK BUT WE ARE FINE THE BANK WELL IS JUST SLOW GETTING THIS TO B OF A ILL SHOULD REALLY HAVE THIS THERE TOMORROW...ILL CALL YOU AT 1130AM ...OK HANG IN THERE..WE ARE ALMOST DONE..
**It is now October 28 and we still do not have any funding, nor a definitive timeline for funding***
Monday, October 13, 2008
October 13, 2008
Phone call from Gil:
Gil told me that this blog has prevented him from closing deals and therefore stopped him from being able to fund our deals. A demand letter for the deposit money on the Houston deal and the biodiesel deal was sent to Paul and Gil last Thursday afternoon giving them 72 hours to return the deposit money prior to a lawsuit being filed. According to Gil, Patrick and Paul are in negotiation to resolve those two deals.
Terry and Brett are still expecting funding and Gil told Terry today that he would be funded "late this week or very early next" due to the bank holiday today and wire transfer situation.
To date, the deals still have not been funded and Gil is now saying that he is going to get his phone number changed because he does not want me to be able to contact him.
Gil told me that this blog has prevented him from closing deals and therefore stopped him from being able to fund our deals. A demand letter for the deposit money on the Houston deal and the biodiesel deal was sent to Paul and Gil last Thursday afternoon giving them 72 hours to return the deposit money prior to a lawsuit being filed. According to Gil, Patrick and Paul are in negotiation to resolve those two deals.
Terry and Brett are still expecting funding and Gil told Terry today that he would be funded "late this week or very early next" due to the bank holiday today and wire transfer situation.
To date, the deals still have not been funded and Gil is now saying that he is going to get his phone number changed because he does not want me to be able to contact him.
October 9, 2008
My Inquiry:
Well, every day that you delay is a day that the FBI has to move forward with their investigation. And a day of more damages incurred by those involved. This really has gotten out of hand and if you are "so close', where is the proof? Where is the money? When will it be here? Was supposed to be "this week" and yet this week is rapidly winding down and still no results...amazing how you believe your own press and just keep on lying to all of us.
Gil's Response:
ok im tierd of trying to work with you all you do is threats... ill get in touch when we are done
Another Response:
I CALLED EARLIER YOU DID NOT ANSWER IM IN A MEETING NOW ILL EMAIL YOU LATER..
And Yet Another Response:
I CALLED 4 OR 5 TIMES ILL LET YOU KNOW
***I did not get any calls from Gil that night on my cell phone or my home phone. There were no voicemail messages or missed calls. I also have gotten no further email updates.
Well, every day that you delay is a day that the FBI has to move forward with their investigation. And a day of more damages incurred by those involved. This really has gotten out of hand and if you are "so close', where is the proof? Where is the money? When will it be here? Was supposed to be "this week" and yet this week is rapidly winding down and still no results...amazing how you believe your own press and just keep on lying to all of us.
Gil's Response:
ok im tierd of trying to work with you all you do is threats... ill get in touch when we are done
Another Response:
I CALLED EARLIER YOU DID NOT ANSWER IM IN A MEETING NOW ILL EMAIL YOU LATER..
And Yet Another Response:
I CALLED 4 OR 5 TIMES ILL LET YOU KNOW
***I did not get any calls from Gil that night on my cell phone or my home phone. There were no voicemail messages or missed calls. I also have gotten no further email updates.
October 8, 2008
My Inquiry (we found out that another group has sent funds to RC Marketing):
I was contacted this afternoon by another group that came across my blog on the internet. They wired $100k to you back in the spring on a short term note and have long been expecting repayment. As required by the open investigation with the FBI, I have passed along the contact information for this group as yet another loss sustained by people doing business with you. This is not getting better, Gil. It appears that there are other goups out there in the same position as us who have tried in good faith to do business with RCM. All any of us want is for you to fund these deals and resolve the situation that this has put all of us in. Funding is the only way to stop this...
Gil's Response:
THIS IS NO MORE THAT WILL COME TO THIS WE ARE CLOSEING THIS WILL LET YOU KNOW
I was contacted this afternoon by another group that came across my blog on the internet. They wired $100k to you back in the spring on a short term note and have long been expecting repayment. As required by the open investigation with the FBI, I have passed along the contact information for this group as yet another loss sustained by people doing business with you. This is not getting better, Gil. It appears that there are other goups out there in the same position as us who have tried in good faith to do business with RCM. All any of us want is for you to fund these deals and resolve the situation that this has put all of us in. Funding is the only way to stop this...
Gil's Response:
THIS IS NO MORE THAT WILL COME TO THIS WE ARE CLOSEING THIS WILL LET YOU KNOW
Monday, October 6, 2008
October 6, 2008---One Full Year Later!
My Inquiry:
Ignoring me...is only making me more and more upset. It is not resolving the issue and certainly not going to make me go away...I would think you would realize that after a full year of dealing with us. This has to get resolved and has to get taken care of...it is not something that we can continue to just pretend never happened. You took money from these clients a year ago, promised them funding and have done nothing but tell tall tales for a year. You have misled these clients down so many roads, told us that things were completed so many times and never delivered on any of your promises. Here we are on another Monday...Tuesday in New Zealand...and no word on an update that was promised last week...you can try to blame me all you want, but all I did was tell the truth about what you have done.
The markets have not gotten any better over the past year...it has only gotten more and more difficult to get money from anywhere. So, not sure how you have not been able to get money in a full year! Absolutely amazing that you have just lied for an entire year and strung us along!
What is going on? Are we going to get money this week or not? Why can't you partially fund as you have told us numerous times you would do? Guess you really don't have any money at all...
Gil's Response:
SARAH
HAVE NOTHING TO TELL YET IT WAS THE WEEKEND...I FIND OUT TODAY AND UPDATE YOU TONIGHT YOU JUST EMAIL TO MUCH DON'T HAVE THE TIME FOR THIS GAME...IT WILL GET DONE THIS SHOULD BE A GREAT WEEK..
Another Response from Gil:
ITS BAD TO GIVE YOU INFO HAVE TO GO NOW UPDATE LATER
Ignoring me...is only making me more and more upset. It is not resolving the issue and certainly not going to make me go away...I would think you would realize that after a full year of dealing with us. This has to get resolved and has to get taken care of...it is not something that we can continue to just pretend never happened. You took money from these clients a year ago, promised them funding and have done nothing but tell tall tales for a year. You have misled these clients down so many roads, told us that things were completed so many times and never delivered on any of your promises. Here we are on another Monday...Tuesday in New Zealand...and no word on an update that was promised last week...you can try to blame me all you want, but all I did was tell the truth about what you have done.
The markets have not gotten any better over the past year...it has only gotten more and more difficult to get money from anywhere. So, not sure how you have not been able to get money in a full year! Absolutely amazing that you have just lied for an entire year and strung us along!
What is going on? Are we going to get money this week or not? Why can't you partially fund as you have told us numerous times you would do? Guess you really don't have any money at all...
Gil's Response:
SARAH
HAVE NOTHING TO TELL YET IT WAS THE WEEKEND...I FIND OUT TODAY AND UPDATE YOU TONIGHT YOU JUST EMAIL TO MUCH DON'T HAVE THE TIME FOR THIS GAME...IT WILL GET DONE THIS SHOULD BE A GREAT WEEK..
Another Response from Gil:
ITS BAD TO GIVE YOU INFO HAVE TO GO NOW UPDATE LATER
Friday, October 3, 2008
October 3, 2008
My Inquiry:
Ignoring me is not solving your problem...another week is ending you have done nothing...another week with no update, no money, no nothing!
Gil's Response:
SARAH
YOU ACT LIKE WE ARE NOT WORKING ON THIS,,, WE TELL WHATS GONING ON THEN YOU SEND EMAIL CALLING US LIARS PAUL HAS NOT STOP I HAVE NOT STOP WITH GETTING PAUL TO GET THIS DONE AND EVEN WITH WHAT IM DOING..THEN HAVE TO READ YOUR SHORT STORIES OF INSALTS..WE HAVE NOT STOP WE BOTH ARE TRYING TO GET A TIME FOR YOU ALL AND IT COMING SOON..THE NO ANSWER BECAUSE OF YOU EMAILS...NOW WHEN I GET THE ANSWER TODAY ILL ANSWER YOU,,, BUT NOT PLAY THIS GAME WITH YOU OF EMAIL.... IM TRYING TO GET THIS DONE FOR YOU ALL...IF WE WERE NOT WE TELL YOU...ILL UPDATE YOU LATER..
Ignoring me is not solving your problem...another week is ending you have done nothing...another week with no update, no money, no nothing!
Gil's Response:
SARAH
YOU ACT LIKE WE ARE NOT WORKING ON THIS,,, WE TELL WHATS GONING ON THEN YOU SEND EMAIL CALLING US LIARS PAUL HAS NOT STOP I HAVE NOT STOP WITH GETTING PAUL TO GET THIS DONE AND EVEN WITH WHAT IM DOING..THEN HAVE TO READ YOUR SHORT STORIES OF INSALTS..WE HAVE NOT STOP WE BOTH ARE TRYING TO GET A TIME FOR YOU ALL AND IT COMING SOON..THE NO ANSWER BECAUSE OF YOU EMAILS...NOW WHEN I GET THE ANSWER TODAY ILL ANSWER YOU,,, BUT NOT PLAY THIS GAME WITH YOU OF EMAIL.... IM TRYING TO GET THIS DONE FOR YOU ALL...IF WE WERE NOT WE TELL YOU...ILL UPDATE YOU LATER..
Thursday, October 2, 2008
October 2, 2008
My most recent inquiry:
It has now been a full day since you promised an email update in a "few hours" and still not a word from you. There is nothing that we have done to cause the inordinate delays...and you can't blame me or the blog on anything because that blog was not published until more than eight months after the last deal was contracted to fund...you sure were in a big hurry to get the money from these clients, but have shown nowhere near the same urgency in getting their funding to them...and the lies continue to amaze us...the stories are so outrageous and unblievable that you have told us...and how many times have you told us things are 100% complete and that funding is imminent? Too many to count and over the course of almost a year...imminent means any minute, not a year later! Amazing...No regard for anything and blaming everyone but yourselves...you need to get this taken care of and fund these deals!
And Gil's Responses:
SARAH
LOOK, I'M WAITING FOR SOMETHING TO ARRIVE AT THE BANK,,IT WAS SENT OK, IT GOES TO ONE BANK THEN TO OUR THEN I CAN DO THIS FOR PAUL AND YOU ALL... I'M SORRY THE BANKS ARE SLOW THEY TOLD ME YESTERDAY THAT IT WOULD BE DONE NOW WE ARE WAITING...NOW ON PAUL'S HE SHOULD HAVE THIS DONE BY NEXT WEEK THEY ARE MANY REASON THAT THIS SLOW DONE ONE WAS YOU,,,, WHAT YOU DID AND US WHAT WE DID AND WHAT IS GOING ON...
IM REAL BUSY WITH EVERYTHING IM DOING THAT THE TRUTH
More Inquiries:
We are all busy, but that is not an excuse for the lack of communication. There are many methods of communication and they are all relatively easy...you told me two weeks ago that your stuff would be done...then you told me last week that both your deal and Paul's would be wrapped up last week...then you said it would all be done this week...and now you are saying next week...all you do is continue to "next week" us...the same thing you have done to us for a year...next week, next week, next week...a few more days, a few more hours...it's 100% complete...and clearly it isn't because it does not take 2 months to wire funds on a deal that is 100% complete. Those are lies! Plain and simple.
I don't care what the excuses are...and really, I will accept no responsibility for your delays...all I did was tell the truth in your own words...EIGHT months after we were supposed to be done dealing with you...at this point, you should be collecting your payoffs on some of these deals and instead, we are still waiting for funds. That blog is not an excuse and no court would see it as such...first and foremost, it is nothing but the truth...it is what you have told us, primarily in your own words...secondly, it was not published until after the most recent time that we were told by Paul that things were 100% complete and that transfers would be out to us before the end of July...EIGHT full months after the last of these deals should have been funded and NINE months after Brett and The Heights were supposed to be closed....not a few days, not even a few weeks...8-9 months!
So, when will we definitely see funds in Patrick's account to settle these deals? When will Paul be in contact with Patrick to make the arrangements and get the paperwork over here to close them? Why have we been told so many times that the funds are in New Zealand, but they never seem to make it here? How much longer are we expected to hang on and wait for you to continue to string us along? It's been a year...should we plan on years more, months, days???
At this point, you have to realize that this is not a game and that we are not going to just disappear and pretend that this never happened. People's lives have been devestated by this experience with you...so, really, we need to know what is going on and when this will be done for real...not some lie about this week, next week, etc. REAL information that is truthful and that you can deliver on.
Sarah
Another Response:
YES WE KNOW THIS BUT EVERYDAY YOU TELL US THIS
Me:
When will we be funded???
Gil's Response:
IM BUSY
Another Inquiry:
I want answers...we are all busy, but we need answers and a resolution...gone ontoo long with neither
And Gil's Response:
WHEN I GET THEM ILL GIVE THEM TO YOU
My reply:
Well...when will i get answers?
And Gil's Answer:
WHEN I GET THEM YOU ARE NOT BUSY YOU EMAIL ME TO MUCH GET A HOBBY ALSO..IL GET MY THING DONE SO WILL PAUL
It has now been a full day since you promised an email update in a "few hours" and still not a word from you. There is nothing that we have done to cause the inordinate delays...and you can't blame me or the blog on anything because that blog was not published until more than eight months after the last deal was contracted to fund...you sure were in a big hurry to get the money from these clients, but have shown nowhere near the same urgency in getting their funding to them...and the lies continue to amaze us...the stories are so outrageous and unblievable that you have told us...and how many times have you told us things are 100% complete and that funding is imminent? Too many to count and over the course of almost a year...imminent means any minute, not a year later! Amazing...No regard for anything and blaming everyone but yourselves...you need to get this taken care of and fund these deals!
And Gil's Responses:
SARAH
LOOK, I'M WAITING FOR SOMETHING TO ARRIVE AT THE BANK,,IT WAS SENT OK, IT GOES TO ONE BANK THEN TO OUR THEN I CAN DO THIS FOR PAUL AND YOU ALL... I'M SORRY THE BANKS ARE SLOW THEY TOLD ME YESTERDAY THAT IT WOULD BE DONE NOW WE ARE WAITING...NOW ON PAUL'S HE SHOULD HAVE THIS DONE BY NEXT WEEK THEY ARE MANY REASON THAT THIS SLOW DONE ONE WAS YOU,,,, WHAT YOU DID AND US WHAT WE DID AND WHAT IS GOING ON...
IM REAL BUSY WITH EVERYTHING IM DOING THAT THE TRUTH
More Inquiries:
We are all busy, but that is not an excuse for the lack of communication. There are many methods of communication and they are all relatively easy...you told me two weeks ago that your stuff would be done...then you told me last week that both your deal and Paul's would be wrapped up last week...then you said it would all be done this week...and now you are saying next week...all you do is continue to "next week" us...the same thing you have done to us for a year...next week, next week, next week...a few more days, a few more hours...it's 100% complete...and clearly it isn't because it does not take 2 months to wire funds on a deal that is 100% complete. Those are lies! Plain and simple.
I don't care what the excuses are...and really, I will accept no responsibility for your delays...all I did was tell the truth in your own words...EIGHT months after we were supposed to be done dealing with you...at this point, you should be collecting your payoffs on some of these deals and instead, we are still waiting for funds. That blog is not an excuse and no court would see it as such...first and foremost, it is nothing but the truth...it is what you have told us, primarily in your own words...secondly, it was not published until after the most recent time that we were told by Paul that things were 100% complete and that transfers would be out to us before the end of July...EIGHT full months after the last of these deals should have been funded and NINE months after Brett and The Heights were supposed to be closed....not a few days, not even a few weeks...8-9 months!
So, when will we definitely see funds in Patrick's account to settle these deals? When will Paul be in contact with Patrick to make the arrangements and get the paperwork over here to close them? Why have we been told so many times that the funds are in New Zealand, but they never seem to make it here? How much longer are we expected to hang on and wait for you to continue to string us along? It's been a year...should we plan on years more, months, days???
At this point, you have to realize that this is not a game and that we are not going to just disappear and pretend that this never happened. People's lives have been devestated by this experience with you...so, really, we need to know what is going on and when this will be done for real...not some lie about this week, next week, etc. REAL information that is truthful and that you can deliver on.
Sarah
Another Response:
YES WE KNOW THIS BUT EVERYDAY YOU TELL US THIS
Me:
When will we be funded???
Gil's Response:
IM BUSY
Another Inquiry:
I want answers...we are all busy, but we need answers and a resolution...gone ontoo long with neither
And Gil's Response:
WHEN I GET THEM ILL GIVE THEM TO YOU
My reply:
Well...when will i get answers?
And Gil's Answer:
WHEN I GET THEM YOU ARE NOT BUSY YOU EMAIL ME TO MUCH GET A HOBBY ALSO..IL GET MY THING DONE SO WILL PAUL
October 1, 2008
My Inquiry:
well after 11:30a my time and still no update...what is going on????
Gil's Response:
SARAH
WE ARE REAL CLOSE I DON'T WANT TO GIVE ALL INFO BECAUSE YOU DONE ENOUGH DAMAGED,,,, SO PLEASE I'M WORKING ON THIS I NEED A FEW MORE HOUR AND ILL SEND ANOTHER EMAIL BUT WE ARE CLOSE...
**As of 10:24am today, October 2, 2008, I have received no additional updates as promised in the above email and we have received no funding.**
well after 11:30a my time and still no update...what is going on????
Gil's Response:
SARAH
WE ARE REAL CLOSE I DON'T WANT TO GIVE ALL INFO BECAUSE YOU DONE ENOUGH DAMAGED,,,, SO PLEASE I'M WORKING ON THIS I NEED A FEW MORE HOUR AND ILL SEND ANOTHER EMAIL BUT WE ARE CLOSE...
**As of 10:24am today, October 2, 2008, I have received no additional updates as promised in the above email and we have received no funding.**
September 30, 2008
My Inquiry:
Still waiting...for definitive details on what is going on and when we will REALLY see funding. You keep promising an update and that you will know more 'tomorrow', but tomorrow never seems to come...when will we know something real? We have been waiting a year now.Is this going to happen this week or are you just going to continue to string us along?
Gil's Reply:
ILL UPDATE YOU TOMORROW BY 1130AM TOMORROW..SORRY FOR THE DELAY JUST BUSY...
GIL
Still waiting...for definitive details on what is going on and when we will REALLY see funding. You keep promising an update and that you will know more 'tomorrow', but tomorrow never seems to come...when will we know something real? We have been waiting a year now.Is this going to happen this week or are you just going to continue to string us along?
Gil's Reply:
ILL UPDATE YOU TOMORROW BY 1130AM TOMORROW..SORRY FOR THE DELAY JUST BUSY...
GIL
Tuesday, September 30, 2008
September 29, 2008
My inquiry:
Monday is now over all over the world and Paul is into Tuesday...Patrick hasn't heard a thing since the end of July...that was TWO months ago...and then, Paul told everyone including me that he was 100% complete and that funds would be transferred immininently...THAT WAS TWO MONTHS AGO...how can we believe anything? You called me in the middle of the night back in July and told me that everything was done and that funds were on their way...again, MORE THAN TWO MONTHS AGO...next week, we will have been dealing with this for a year...and still nothing but empty promises.
What is going on???
Gil's Response:
WE KNOW THE DAYS AND TIME ALL OVER THE WORLD I'M BROKEN ENGLISH REMEMBER...I CAN TELL TIME HERE... NZ THEY 4 HOURS NEXT DAY..SOON WE WILL GET THIS DONE THIS WEEK WE ARE PUSHING FOR THIS WE WANT THIS DONE MORE THEN YOU...
Another Inquiry:
It's been almost a year...and you just keep telling the same thing over andover again...this week, this week and nothing ever happens...what is reallygoing on? When are you really going to fund?
Gil's Last Response:
YES AGAIN I KNOW THIS YOU KEEP SAYING THE SAMETHING OVER AND OVER SOON I WOULD TELL YOU IF THERE WAS NOTHING GOING ON..
Monday is now over all over the world and Paul is into Tuesday...Patrick hasn't heard a thing since the end of July...that was TWO months ago...and then, Paul told everyone including me that he was 100% complete and that funds would be transferred immininently...THAT WAS TWO MONTHS AGO...how can we believe anything? You called me in the middle of the night back in July and told me that everything was done and that funds were on their way...again, MORE THAN TWO MONTHS AGO...next week, we will have been dealing with this for a year...and still nothing but empty promises.
What is going on???
Gil's Response:
WE KNOW THE DAYS AND TIME ALL OVER THE WORLD I'M BROKEN ENGLISH REMEMBER...I CAN TELL TIME HERE... NZ THEY 4 HOURS NEXT DAY..SOON WE WILL GET THIS DONE THIS WEEK WE ARE PUSHING FOR THIS WE WANT THIS DONE MORE THEN YOU...
Another Inquiry:
It's been almost a year...and you just keep telling the same thing over andover again...this week, this week and nothing ever happens...what is reallygoing on? When are you really going to fund?
Gil's Last Response:
YES AGAIN I KNOW THIS YOU KEEP SAYING THE SAMETHING OVER AND OVER SOON I WOULD TELL YOU IF THERE WAS NOTHING GOING ON..
Friday, September 26, 2008
Thursday, September 25, 20008
My inquiry:
Your email said you would email me again yesterday and I got nothing yesterday or today...we are now at the end of yet another week with no results...continuing to tell me that things look good is nothing but the same old same old that we have heard for almost a full year now.
What s going on and when will these deals actually be funded?
Gil's Response:
THIS IS WHY WE DONT TALK TO YOU WE ARE WORKING DAM HARD TO GET THIS DONE BELIEVE IT OR NOT AND ALL YOU DO SMART COMENTS,,,
Another inquiry from me:
So...what is the timeline?
And more promises from Gil:
I WILL TELL YOU TOMORROW AFTER 11 AM
Your email said you would email me again yesterday and I got nothing yesterday or today...we are now at the end of yet another week with no results...continuing to tell me that things look good is nothing but the same old same old that we have heard for almost a full year now.
What s going on and when will these deals actually be funded?
Gil's Response:
THIS IS WHY WE DONT TALK TO YOU WE ARE WORKING DAM HARD TO GET THIS DONE BELIEVE IT OR NOT AND ALL YOU DO SMART COMENTS,,,
Another inquiry from me:
So...what is the timeline?
And more promises from Gil:
I WILL TELL YOU TOMORROW AFTER 11 AM
Wednesday, September 24, 2008
Wednesday, September 24, 2008
More promises:
SARAH
ALL LOOKS REAL GOOD,,,, THE DEALS WILL BE FUNDED SOON IM PUSHING ALL HARD BOTH SIDE PAULS AND MINE...ILL EMAIL TOMORROW
SARAH
ALL LOOKS REAL GOOD,,,, THE DEALS WILL BE FUNDED SOON IM PUSHING ALL HARD BOTH SIDE PAULS AND MINE...ILL EMAIL TOMORROW
Friday, September 19, 2008
The latest:
SARAH
GIVE ME 5 MORE BAKING DAYS I SHOULD HAVE THIS DONE PAUL SHOULD HAVE HIS DONE NEXT WEEK ALSO OK...I COULD TELL WHAT IS GOING ON BUT YOU DON'T BELIEVE ME ANY WAYS SO NEXT WEEK OK AND LESS TYPING FROM BROKEN ENGLISH..
SARAH
GIVE ME 5 MORE BAKING DAYS I SHOULD HAVE THIS DONE PAUL SHOULD HAVE HIS DONE NEXT WEEK ALSO OK...I COULD TELL WHAT IS GOING ON BUT YOU DON'T BELIEVE ME ANY WAYS SO NEXT WEEK OK AND LESS TYPING FROM BROKEN ENGLISH..
Monday, September 15, 2008
A Call From Gil Today
I got a call from Gil today indicating that the deals would be done "soon" and blaming me posting this blog for all of the delays. He would not commit to any timeline or even how the funding would occur...only indicated that the deals were still in process and would be funded "soon."
September 15, 2008
Another week has begun with no contact from Gil or Paul...and shockingly, no funds. Escrow attorney and one of the clients is based in Houston, so weather is definitely impacting our side, but not RC Marketing. They are just choosing not to communicate.
It will be a year on October 6, 2008 that we started dealing with this. Hard to believe that we have been strung along for that long with no resolution.
It will be a year on October 6, 2008 that we started dealing with this. Hard to believe that we have been strung along for that long with no resolution.
Tuesday, September 9, 2008
September 9, 2008 and Nothing but Silence...
Nobody has heard a word from Paul or Gil since the middle of last week when Gil emailed and said they were very close and trying to get it done last week...and then the email that said he would contact me when it is done. And then...nothing! No phone calls, no emails, nothing.
An FBI complaint was filed in mid-March and as slow as the federal government moves, it looks like they might actually get around to this complaint before it funds!
An FBI complaint was filed in mid-March and as slow as the federal government moves, it looks like they might actually get around to this complaint before it funds!
Friday, September 5, 2008
Another week ending with nothing...
My inquiry:
Nearing the end of business on Thursday...and still not a word fromm you...nothing other than that you are "trying to work it out for this week". Well, shockingly, this week is quickly coming to an end and we still don't have any funds in Patrick's escrow account to close these deals...we don't have any documents...we have nothing...not even an communication to indicate the details of how and when funds will be transferred, etc. It is amazing that after almost 11 months, you still continue to lie. You still continue to make promise after promise, both verbally and in writing with no delivery...
My blog didn't do a thing...if the government of China is surfing the google blogs from the closing table to do due diligence on you guys...wow...guess you weren't as close to closing anything as you promised us now over three months ago...and four and five and ten and eleven months ago...your threats are amazing since none of us has done anything wrong and you are the ones that are out of contract...not us...we did what we promised we would do...it is YOU that failed to deliver...
So, New Zealand is now opening for business on Friday and Patrick still hasn't heard a word about settling these deals. The clients haven't heard anything. All we have is Gil's broken English email in all caps with no punctuation stating that it should be this week...so very professional considering the myriad of promises you have made to us throughout the past 11 months.
Here we are at the end of another day...with only one day left in the week here in the US and still not a peep from you...absolutely amazing...but certainly not shocking...
And the response:
well ill contact you when its done so you wont have to deal with the broken English
Nearing the end of business on Thursday...and still not a word fromm you...nothing other than that you are "trying to work it out for this week". Well, shockingly, this week is quickly coming to an end and we still don't have any funds in Patrick's escrow account to close these deals...we don't have any documents...we have nothing...not even an communication to indicate the details of how and when funds will be transferred, etc. It is amazing that after almost 11 months, you still continue to lie. You still continue to make promise after promise, both verbally and in writing with no delivery...
My blog didn't do a thing...if the government of China is surfing the google blogs from the closing table to do due diligence on you guys...wow...guess you weren't as close to closing anything as you promised us now over three months ago...and four and five and ten and eleven months ago...your threats are amazing since none of us has done anything wrong and you are the ones that are out of contract...not us...we did what we promised we would do...it is YOU that failed to deliver...
So, New Zealand is now opening for business on Friday and Patrick still hasn't heard a word about settling these deals. The clients haven't heard anything. All we have is Gil's broken English email in all caps with no punctuation stating that it should be this week...so very professional considering the myriad of promises you have made to us throughout the past 11 months.
Here we are at the end of another day...with only one day left in the week here in the US and still not a peep from you...absolutely amazing...but certainly not shocking...
And the response:
well ill contact you when its done so you wont have to deal with the broken English
Thursday, September 4, 2008
Same old, same old on a different day...
My inquiry:
Not sure how you are doing any business...
...with a full voicemail box...it has been full for weeks! No wonder you can't get anything done and get our deals funded. It is now close of business here on Wednesday and not only do we not have any funding as promised, but we don't even have an update on the status of funding. The week is slowly ticking away and nothing is coming...amazing how you continue to promise, to set expectations and then disappear or get pissed off because we want to know what is going on.
Most of the people involved in these transactions have given up hope that you will ever fund and they are just waiting for the law to catch up with you. I keep hoping that one of these days, you will actually deliver on a promise that you make and get funds here to settle these deals that should have been settled nearly a year ago.
What is going on and why have you disappeared again?
Sarah
Gil's Response:
SARAH BEEN REAL BUSY WORKING ON MY STUFF SO IS PAUL I HAVE NOT EVEN CALL HIM PAUL WE ARE ALMOST DONE...
My second inquiry:
So, are you really going to get through and fund us this week or are we going to be "next weeked" yet again???
And Gil's Response:
WORKING ON THIS FOR THIS WEEK OK
Not sure how you are doing any business...
...with a full voicemail box...it has been full for weeks! No wonder you can't get anything done and get our deals funded. It is now close of business here on Wednesday and not only do we not have any funding as promised, but we don't even have an update on the status of funding. The week is slowly ticking away and nothing is coming...amazing how you continue to promise, to set expectations and then disappear or get pissed off because we want to know what is going on.
Most of the people involved in these transactions have given up hope that you will ever fund and they are just waiting for the law to catch up with you. I keep hoping that one of these days, you will actually deliver on a promise that you make and get funds here to settle these deals that should have been settled nearly a year ago.
What is going on and why have you disappeared again?
Sarah
Gil's Response:
SARAH BEEN REAL BUSY WORKING ON MY STUFF SO IS PAUL I HAVE NOT EVEN CALL HIM PAUL WE ARE ALMOST DONE...
My second inquiry:
So, are you really going to get through and fund us this week or are we going to be "next weeked" yet again???
And Gil's Response:
WORKING ON THIS FOR THIS WEEK OK
Tuesday, September 2, 2008
Blaming me for their failure to fund...
SARAH
LOOK THE THING YOU DONE AND PLEASE DON'T SAY WHAT IT SLOWED MY DEAL DOWN AND PAUL'S ALSO WE ARE WORKING ON THIS WE SHOULD HAVE THIS ALL DONE THIS WEEK,,, THIS IS ALL I'M SAYING WE ARE REAL CLOSE...LET IT HAPPEN AND IT WILL DON'T SAY OR PISS ANY ONE OFF...
BEST REGARDS
GIL
Well...it is nothing but the truth...can't blame anybody but yourselves foryour failure to fund...should have been done months ago.Clients want to know if you are willing to settle this out of court and beforethese federal investigations go any further should you fail to fund yet againthis week? We need resolution within 5 days...sarah
STOP WITH THE THREATS OR ILL STOP EMAILS LET US WORK
LOOK THE THING YOU DONE AND PLEASE DON'T SAY WHAT IT SLOWED MY DEAL DOWN AND PAUL'S ALSO WE ARE WORKING ON THIS WE SHOULD HAVE THIS ALL DONE THIS WEEK,,, THIS IS ALL I'M SAYING WE ARE REAL CLOSE...LET IT HAPPEN AND IT WILL DON'T SAY OR PISS ANY ONE OFF...
BEST REGARDS
GIL
Well...it is nothing but the truth...can't blame anybody but yourselves foryour failure to fund...should have been done months ago.Clients want to know if you are willing to settle this out of court and beforethese federal investigations go any further should you fail to fund yet againthis week? We need resolution within 5 days...sarah
STOP WITH THE THREATS OR ILL STOP EMAILS LET US WORK
Monday, September 1, 2008
Monday, September 1, 2008...no update..."all is the same"
My message to Gil:
Gil,It is Monday and we are all expecting an update today as promised...are you still planning to fund these deals by Wednesday this week?
His response:
SOON AS I KNOW ILL LET YOU KNOW ALLIS THE SAME
Gil,It is Monday and we are all expecting an update today as promised...are you still planning to fund these deals by Wednesday this week?
His response:
SOON AS I KNOW ILL LET YOU KNOW ALLIS THE SAME
Wednesday, August 27, 2008
Yet another promise of "next week"
SARAH
WE ARE THERE OK NOW ILL TELL YOU THIS IS THAT IT SHOULD BE DONE NEXT WEEK THIS IS BECAUSE OF THE BANK NOT THE DEAL OR US BECAUSE OF THINGS THE BANK GOING THROUGH OK..I WONT TELL YOU BECAUSE OF HOW YOU ARE BUT WE ARE THERE ILL UPDATE YOU MONDAY....
BEST REGARDS
GIL
WE ARE THERE OK NOW ILL TELL YOU THIS IS THAT IT SHOULD BE DONE NEXT WEEK THIS IS BECAUSE OF THE BANK NOT THE DEAL OR US BECAUSE OF THINGS THE BANK GOING THROUGH OK..I WONT TELL YOU BECAUSE OF HOW YOU ARE BUT WE ARE THERE ILL UPDATE YOU MONDAY....
BEST REGARDS
GIL
Tuesday, August 26, 2008
The Latest...August 26, 2008
SARAH
COULD NOT CALL YOU BACK THERE NO PHONE NUMBER AFTER WHAT YOU DID WE ARE CLOSE TO FUNDING WILL UPDATE YOU AS SOON AS I KNOW...OR TOMORROW..
BEST REGARDS
GIL
COULD NOT CALL YOU BACK THERE NO PHONE NUMBER AFTER WHAT YOU DID WE ARE CLOSE TO FUNDING WILL UPDATE YOU AS SOON AS I KNOW...OR TOMORROW..
BEST REGARDS
GIL
Monday, August 25, 2008
Another week has begun
Yet another week has begun and still no word as to what is going on. Clients have emailed and called Paul and Gil with no response whatsoever. I just blocked my number and got Gil to answer his cell phone...which by the way is never accepting new messages as the voicemail is always full recently...and he said he would call me back...he said that last week too and never did. When I told him that he never returns calls, he said "I wonder why..." and hung up on me.
So, here we are heading into Labor Day weekend 2008 with no resolution on deals that were supposed to be funded no later than November 30, 2007. What a nightmare!
So, here we are heading into Labor Day weekend 2008 with no resolution on deals that were supposed to be funded no later than November 30, 2007. What a nightmare!
Monday, August 18, 2008
Again, no communication...
I blocked my caller ID and was able to get Gil on the phone at approximately 5:30pm EDT. He indicated that he was in a meeting and would call me back in an hour. It is now after 7pm EDT and still no return call...
Thursday, August 14, 2008
Another Week Past...
Well, we are almost at the end of yet another week and still no funding at all on any of the four deals involved.
I spoke with Paul early my Wednesday morning and he informed me that he had just gotten off a plane from Singapore in Zurich and that he had no updates at that time. I guess what he told me was 100% done is not as he is no longer in New Zealand and we still don't have funds.
I received a call yesterday afternoon, August 13, 2008 from Gil out of the blue. He informed me that all of their deals had gone bad because of this blog and that they were unable to close deals because people had found this and now want them to put up bonds. He also informed me that I was going to be sued by several of their clients, Paul and several governments, including China.
Gil did tell me that he thought these deals were going to be funded next week, but that "Paul would rather die than go down without a fight with me"...still no funds here...
I spoke with Paul early my Wednesday morning and he informed me that he had just gotten off a plane from Singapore in Zurich and that he had no updates at that time. I guess what he told me was 100% done is not as he is no longer in New Zealand and we still don't have funds.
I received a call yesterday afternoon, August 13, 2008 from Gil out of the blue. He informed me that all of their deals had gone bad because of this blog and that they were unable to close deals because people had found this and now want them to put up bonds. He also informed me that I was going to be sued by several of their clients, Paul and several governments, including China.
Gil did tell me that he thought these deals were going to be funded next week, but that "Paul would rather die than go down without a fight with me"...still no funds here...
Monday, August 4, 2008
August 4, 2008
I spoke to Paul at approximately 2:40am EDT...this is after the close of business in New Zealand on Monday. Paul once again assured me that things were 100% complete. He was very short with me and did not want to engage in a conversation. He did, however, tell me that he would be in touch with the escrow attorney "in the morning". I do not know if that is his morning or ours...can only assume that it is his morning as it is now almost noon here on the East Coast of the US and we have not heard a word from him...and it would have to be banking hours in New Zealand for him to send wire transfers to us to settle these deals.
This has been a very long road and I have no idea how it will end. Paul Douglas and Gil Freire have been promising funding to us for over 10 months on these four deals. They have told us funds our coming. They have told us that they have arranged short term funding and yet, we have not seen a dime. The delays have come at inordinate financial, personal and professional stress to all of these clients as well as to me and the other parties involved. We have made commitments and obligations based on the promises of the funds that never have come and thaths caused us all significant consequences.
We will see what today brings and whether or not the escrow attorney hears from Paul to settle these deals. I sure hope that one of these days soon they come through with the funding.
This has been a very long road and I have no idea how it will end. Paul Douglas and Gil Freire have been promising funding to us for over 10 months on these four deals. They have told us funds our coming. They have told us that they have arranged short term funding and yet, we have not seen a dime. The delays have come at inordinate financial, personal and professional stress to all of these clients as well as to me and the other parties involved. We have made commitments and obligations based on the promises of the funds that never have come and thaths caused us all significant consequences.
We will see what today brings and whether or not the escrow attorney hears from Paul to settle these deals. I sure hope that one of these days soon they come through with the funding.
July 31, 2008...I spoke with Paul
I spoke with Gil, who informed me that his father had passed away and that he was dealing with that. So, I contacted Paul directly in New Zealand and he assured me that he was standing by hourly waiting for the call from the bank to send the transfers. He told me that the orders had been given and that this was 100% complete. Paul advised me that he would contact the escrow attorney in Texas as soon as he had the wires ready to go to make settlement arrangements. I asked if it would happen today and he told me that he was confident it would be today or at the very latest, EARLY next week.
Unfortunately, we have heard all that before and if you read back through this blog, you will see where we have been told the same thing several other times.
Unfortunately, we have heard all that before and if you read back through this blog, you will see where we have been told the same thing several other times.
July 28, 2008...supposed to be funded by July 30, 2008
SARAH
YOU NEED TO CALL PAUL ITS HIS EMAIL OR WAIT FOR PATRICK SINCE YOU ARE TALKING TO HIM I WAS BUSY ALL WEEKEND...I HAVE NOT HEARD I WILL LATER BUT FOR NOW I HAVE BEEN BUSY...I BELIEVE WEDS...
BEST REGARDS
GIL
YOU NEED TO CALL PAUL ITS HIS EMAIL OR WAIT FOR PATRICK SINCE YOU ARE TALKING TO HIM I WAS BUSY ALL WEEKEND...I HAVE NOT HEARD I WILL LATER BUT FOR NOW I HAVE BEEN BUSY...I BELIEVE WEDS...
BEST REGARDS
GIL
July 25, 2008...more promises from Paul
Good morning Patrick, I have just got back form Europe...late last night and have just turned on my phone... to see the text message from you etc...Suggestion.. it might pay and help their nerves if you were to let them know that you have seen (admittedly only by email photo) that I holdover 900 million dollars worth of verifiable company shares (company is listed on the Nasdaq exchange..) and this is what we havearranged the credit lines against.- .I still have the big one - the certificate of 7 million shares (393 million worth) here with me and can send that to you again immediately along with a copy of todays Newspaper to verify the dates, who, where, etc..if you want..!!UPDATE..The transfers to you are EXPECTED to take place on or about my Tuesday (or Wednesday) bankers and other interference accepted..The delays over the past week (10 days) has been purely because of the banks and bankers.. (need this hard copy document.. need a hardcopy signature.. electronic or fax not accepted.. etc..) we have jumped thru all the hoops and been round the bloody world three times to fulfill all this.. and do not intend to drop the ball at this stage...Once I see my bankers on Monday morning I expect to speak with George and once is confirmed that all the dramas are over.. I will getGeorge on the phone to you to set up the schedules... who's first, what project is involved.. amounts etc..Best regards, Paul.
July 25, 2008...still telling us all is fine!
SARAH
I JUST GOT UP,, NOW I WAS UP UNTIL 5AM ON SOMETHING ESE,,HE CALLED ME ABOUT 3AM SAYING THAT HE WAS WAITING FOR THIS LAST LETTER THAT WE SPOKE OF AND THAT HE WAS GETTING THIS ABOUT 2,3 HOURS NOW I DON'T KNOW IF HE DID,,,I KNOW ALL IS FINE BECAUSE HE WOULD HAVE CALLED..SO LET ME TALK TO HIM THIS AFTERNOON....THEN I WILL TELL YOU..
BEST REGARDS
I JUST GOT UP,, NOW I WAS UP UNTIL 5AM ON SOMETHING ESE,,HE CALLED ME ABOUT 3AM SAYING THAT HE WAS WAITING FOR THIS LAST LETTER THAT WE SPOKE OF AND THAT HE WAS GETTING THIS ABOUT 2,3 HOURS NOW I DON'T KNOW IF HE DID,,,I KNOW ALL IS FINE BECAUSE HE WOULD HAVE CALLED..SO LET ME TALK TO HIM THIS AFTERNOON....THEN I WILL TELL YOU..
BEST REGARDS
July 23, 2008...another promise of "this week"
SARAH
EVERYTHING HAS NOT CHANGE THEY ARE STILL LOOKING GREAT FOR THIS WEEK... I'M TYPING AS YOU ARE CALLING,,, I HAVE PUT A GOOD SONG THAT I LIKE AS RING TONE BECAUSE OF THE MANY TIMES YOU CALL...IF AND WHEN THIS CHANGES ON HAVE THIS WEEK FUNDS GOING OUT ILL LET YOU KNOW FIRST,,BUT WE ARE GREAT STILL...
GIL
EVERYTHING HAS NOT CHANGE THEY ARE STILL LOOKING GREAT FOR THIS WEEK... I'M TYPING AS YOU ARE CALLING,,, I HAVE PUT A GOOD SONG THAT I LIKE AS RING TONE BECAUSE OF THE MANY TIMES YOU CALL...IF AND WHEN THIS CHANGES ON HAVE THIS WEEK FUNDS GOING OUT ILL LET YOU KNOW FIRST,,BUT WE ARE GREAT STILL...
GIL
July 9, 2008...Paul Threatens Me for Publishing our Story
Good on her..... hope she likes her current address cause we do not have a house in Virginia...if she comes on with crap like this... I will sue her ass and not stop till we get to her lyingtongue... she wants a shit fight.. she has come to the right place... difference is we will be fundedto the hills and her file is so full of evidence that i have had to take it off the computer... not enoughroom for files that i want to keep..The lawyer guys in london will take her apart one piece at a time... let the silly bitch have her time in the sun..cause once we get started on this I wont stop till she is living in a cave..!!!!! and even then it will be one thatwe own..Paul.
July 6, 2008...Paul confirms he has the funds...
--- On Wed, 6/11/08, Paul Douglas wrote:
From: Paul DouglasSubject: Re: latest from NZ..To: pemurphylaw@yahoo.comDate: Wednesday, June 11, 2008, 9:35 PM
Hi Patrick,
To answer your questions: I assume you didn't see any movement on the funds to date? NO.For my own edification, are the funds in NZ, but just not released to your account? YESIs the bank providing any indication on how long they will hold the funds? NO.. but my lawyer is pushing them for that answer...I never kill messengers because in this instance I feel like I am in the exact same boat... everything is done that needs to bedone.. and we are waiting for those people who hold our lives and futures in their hands to finish their damn work.. so no..no bulletscoming your way.Will send you any news that I have .. immediately that i have it... reason I am chewing on their butts so bad is as soon as the fundsare released I send out to youRegards, Paul.
From: Paul Douglas
Hi Patrick,
To answer your questions: I assume you didn't see any movement on the funds to date? NO.For my own edification, are the funds in NZ, but just not released to your account? YESIs the bank providing any indication on how long they will hold the funds? NO.. but my lawyer is pushing them for that answer...I never kill messengers because in this instance I feel like I am in the exact same boat... everything is done that needs to bedone.. and we are waiting for those people who hold our lives and futures in their hands to finish their damn work.. so no..no bulletscoming your way.Will send you any news that I have .. immediately that i have it... reason I am chewing on their butts so bad is as soon as the fundsare released I send out to youRegards, Paul.
June 11, 2008...now tell us funds are not 'released'
To answer your questions: I assume you didn't see any movement on the funds to date? NO.For my own edification, are the funds in NZ, but just not released to your account? YESIs the bank providing any indication on how long they will hold the funds? NO.. but my lawyer is pushing them for that answer...I never kill messengers because in this instance I feel like I am in the exact same boat... everything is done that needs to bedone.. and we are waiting for those people who hold our lives and futures in their hands to finish their damn work.. so no..no bulletscoming your way.Will send you any news that I have .. immediately that i have it... reason I am chewing on their butts so bad is as soon as the fundsare released I send out to youRegards, Paul.
June 10, 2008....promises of no more delays!
Hi Patrick...
Just a real quick note... there are no delays and no holdups... still
expect results today..
Will advise as soon as the funds are..
1. in my account..
2. transfers completed to you and copy in my hands.
Regards,
Paul.
Just a real quick note... there are no delays and no holdups... still
expect results today..
Will advise as soon as the funds are..
1. in my account..
2. transfers completed to you and copy in my hands.
Regards,
Paul.
June 8, 2008...still promising funding
All-
I just spoke to Paul and was informed the following:
The funds have been sent from Zurich (or whereever they were coming from in Europe) and they are in the process of being cleared and receipted into the RCM accounts. This is the first traunch and is not the full $88.6M. Paul stated that he is waiting on a callback from the bank to confirm that the funds have been cleared, which he "believes" should be completed tomorrow morning NZ time.
Regarding Dobbins, Paul stated that he had a man named Claude Lowenz (unsure about spelling all you due diligence people out there) who is standing by to come over and meet with the Dobbins team and make final preparations
Thats all I was told
Patrick
I just spoke to Paul and was informed the following:
The funds have been sent from Zurich (or whereever they were coming from in Europe) and they are in the process of being cleared and receipted into the RCM accounts. This is the first traunch and is not the full $88.6M. Paul stated that he is waiting on a callback from the bank to confirm that the funds have been cleared, which he "believes" should be completed tomorrow morning NZ time.
Regarding Dobbins, Paul stated that he had a man named Claude Lowenz (unsure about spelling all you due diligence people out there) who is standing by to come over and meet with the Dobbins team and make final preparations
Thats all I was told
Patrick
June 5, 2008
Supposed to be funded by June 8, 2008...now August 4, 2008 and still no funds!
Hey Patrick, From what I have seen and what I know.... it appears your Sunday is the day..Will confirm ASAP.Paul.
Hey Patrick, From what I have seen and what I know.... it appears your Sunday is the day..Will confirm ASAP.Paul.
June 4, 2008...the 100% guarantees
Hi Patrick... I have spoken with the bank both here in New Zealand as well as the International Section in Sydney which controls the international transfers for the bank - worldwide - and am confident that the funds will be fully cleared into my account by mid morning tomorrow.. no bloody jokes involved.. we are 100% about this... short to say.. it is finally done and you will see results either Friday (my time) Friday (your time) or my Monday.. Best regards, Paul.
More promises of imminent funding...June 3, 2008
Good afternoon Patrick, Thank you for the email.. Yes I am feeling a million percent better... thank you... can breather quite well know with out going off into a coughing fit... God I hate planes...having spoke to the bankers this afternoon they can still not give me a "this is the hour" notice.. but advise that it is proceeding as quickly as possible. I trust that by this time tomorrow I can confirm most things for you.. including the timing of events.. payments, transfers, etc etc.. You know like I do.. that matters like this take there own sweet time thru the banking systems.. and it is worse when you are standing by hour by hour to receive it. However we know that it has left the other end.. and is only a matter of time before it arrives.Regards, Paul.
Funds are in route...May 29, 2008
All-
I got a text last night from paul that said the following: "good afternoon Patrick,,,,yes, your understanding is correct...A large transfer is indeed on the way down here right now..."
I then texted back asking about specific time, date, etc., and he said he wasn't sure.....
I am going to Mexico today, but if I receive any additional information, I will let all know
Patrick
I got a text last night from paul that said the following: "good afternoon Patrick,,,,yes, your understanding is correct...A large transfer is indeed on the way down here right now..."
I then texted back asking about specific time, date, etc., and he said he wasn't sure.....
I am going to Mexico today, but if I receive any additional information, I will let all know
Patrick
They don't like my inquiries...May 28, 2008
But, once again promise it is done and funds are coming...
SARAH
STOP WITH YOUR CRAP,, WE WILL HEAR FROM HIM TODAY... ALL IS FINE AND WE ARE LOOKING GETTING ALL FUNDS DONE THIS WEEK..SO TRY BE A LITTLE MORE PATIENT OK...DON'T CALL ME ILL CALL OR EMAIL YOU WHEN I KNOW OR HEAR FROM PAUL...
GIL
SARAH
STOP WITH YOUR CRAP,, WE WILL HEAR FROM HIM TODAY... ALL IS FINE AND WE ARE LOOKING GETTING ALL FUNDS DONE THIS WEEK..SO TRY BE A LITTLE MORE PATIENT OK...DON'T CALL ME ILL CALL OR EMAIL YOU WHEN I KNOW OR HEAR FROM PAUL...
GIL
More Delays...May 23, 2008
All-
I received an email from Gil stating that there was a delay with the bank in NZ; he believed that the initial traunch should be going out on Tuesday. If I get any more info, I will let all know
Patrick
I received an email from Gil stating that there was a delay with the bank in NZ; he believed that the initial traunch should be going out on Tuesday. If I get any more info, I will let all know
Patrick
Funds promised again on May 21, 2008
All-
I just got off the phone with Gil. Paul was not able to call me directly, so he had Gil call on his behalf. Per Gil, Paul informed him the funds have been sent to the NZ bank and the first traunch should be going out this afternoon or the following morning, NZ time. Gil has informed me that he should have actual confirmation by this afternoon. There will be 2 traunches, but it is not known the actual amount of each traunch. As soon as I hear back from anyone or as soon as I receive any concrete documentation, I will let all know
Patrick
I just got off the phone with Gil. Paul was not able to call me directly, so he had Gil call on his behalf. Per Gil, Paul informed him the funds have been sent to the NZ bank and the first traunch should be going out this afternoon or the following morning, NZ time. Gil has informed me that he should have actual confirmation by this afternoon. There will be 2 traunches, but it is not known the actual amount of each traunch. As soon as I hear back from anyone or as soon as I receive any concrete documentation, I will let all know
Patrick
Paul's response to our inquiries...
Good afternoon Sarah, Terry and Gil, I am no even going to answer any of this crap as written below... only to say one thing to you... Monday in Europe was a Bank holiday in 90% of the places we are dealing with.. so even with all your abilities.. I doubt that you could do anything when the banks are closed....Get a life....Paul.
May 11, 2008...More promises
Good evening Patrick, I expect to have "firm details" regarding the transfer that we have discussed either on Monday or Tuesday.. (monday being a holiday in some parts of Europe) the bankers have all been affirmative about the payment and I have been hanging on here waiting for the paperwork.. then I can get home for a break before coming back to Europe and then Dubai..to sign off the proposal down there.Will call you first..
May 11, 2008...More promises
Good evening Patrick, I expect to have "firm details" regarding the transfer that we have discussed either on Monday or Tuesday.. (monday being a holiday in some parts of Europe) the bankers have all been affirmative about the payment and I have been hanging on here waiting for the paperwork.. then I can get home for a break before coming back to Europe and then Dubai..to sign off the proposal down there.Will call you first..
May 7, 2008...funds were supposed to be 24-36 hours away
Good afternoon Patrick,I have just gotten back into the hotel following a huge day with the banks the lawyers and the investment banker..as I advised you last week the "orders" have been given to the investment banker for the first funds to come to you and I have signed off all of the papers for this to happen.. I am expecting the copies of these transfers in the next 24 to 36 and will send a copy direct to you when these are in my hands.. I will also call you and advise that the transfer is 100% complete.. and the copy is in my hands..The payment out to cover the balance of the "squeaky wheels".. along with the monies for the bio plant will be available about 10days after the first payment is sent...Best regards,Paul.
April 29, 2008...a promise of funds
Good morning Patrick,Thank you for the cell phone message. It just got thru to me.. The banks were closed up here yesterday (Monday)in most part of Eastern Europe.. (where one of our bank accounts are based..) Greece and the surrounding countries included..they were closed for the Orthodox Easter celebrations..Everything is still proceeding 100% for us.. and those shares that I sent the copies to you of are proceeding with the banks very verywell. As you can imagine with an asset like that (just over 950 million) as well as the copper (this parcel just over 195 million) the banks arecautious.. but happy with the authenticity and validity of the assets presented.We anticipate the first of the monies being available to your accounts before the end of this week.. so the little bird concerned wastweeting the correct tune..I will be able to confirm everything to you over the next 24 hours or so.. but have had 100% confirmation that everything is fine..and on track. As above I do seriously expect to have the first of the monies transferred to your accounts before EuropeThursday.. will advise transfer details and amounts as soon as this is available to me from the bank.. as I am told it.."some monies this week... lots of monies available to transfer next week."I will hold them to their word.. and then head back to NZ as quick as.. my granddaughter's first birthday is the 12th May..and I want to be there for that..Best regards,Paul.
April 23, 2008
Another imminent promise of funding from Paul:
All-
I received word from Paul and he indicated the following:
He will be setting out tonight (NZ time, I assume) at 5pm to go to Dubai and then Vienna (he didn’t say that part, this is my assumption based on earlier conversations with him, i.e.- that it will be Dubai then Vienna). He stated that the bank is acting slowly, but that he should be finalizing the CL in Vienna (and I assume in the other European bank) upon his arrival. I assume that once the CLs are finalized, we should see something by Friday or so (this is my assumption again based on earlier conversations with him).
Do not under any circumstances, take my words and beat anyone else over the head with them; I am sending this out to keep all informed, not to provide ammunition…if this occurs from any member of this group, I will stop providing updates.
That’s all I know
Patrick
All-
I received word from Paul and he indicated the following:
He will be setting out tonight (NZ time, I assume) at 5pm to go to Dubai and then Vienna (he didn’t say that part, this is my assumption based on earlier conversations with him, i.e.- that it will be Dubai then Vienna). He stated that the bank is acting slowly, but that he should be finalizing the CL in Vienna (and I assume in the other European bank) upon his arrival. I assume that once the CLs are finalized, we should see something by Friday or so (this is my assumption again based on earlier conversations with him).
Do not under any circumstances, take my words and beat anyone else over the head with them; I am sending this out to keep all informed, not to provide ammunition…if this occurs from any member of this group, I will stop providing updates.
That’s all I know
Patrick
A mid-April Funding promised...April 16, 2008
All-
I received word from Paul and he indicated the following:
He will be setting out tonight (NZ time, I assume) at 5pm to go to Dubai and then Vienna (he didn’t say that part, this is my assumption based on earlier conversations with him, i.e.- that it will be Dubai then Vienna). He stated that the bank is acting slowly, but that he should be finalizing the CL in Vienna (and I assume in the other European bank) upon his arrival. I assume that once the CLs are finalized, we should see something by Friday or so (this is my assumption again based on earlier conversations with him).
Do not under any circumstances, take my words and beat anyone else over the head with them; I am sending this out to keep all informed, not to provide ammunition…if this occurs from any member of this group, I will stop providing updates.
That’s all I know
Patrick
I received word from Paul and he indicated the following:
He will be setting out tonight (NZ time, I assume) at 5pm to go to Dubai and then Vienna (he didn’t say that part, this is my assumption based on earlier conversations with him, i.e.- that it will be Dubai then Vienna). He stated that the bank is acting slowly, but that he should be finalizing the CL in Vienna (and I assume in the other European bank) upon his arrival. I assume that once the CLs are finalized, we should see something by Friday or so (this is my assumption again based on earlier conversations with him).
Do not under any circumstances, take my words and beat anyone else over the head with them; I am sending this out to keep all informed, not to provide ammunition…if this occurs from any member of this group, I will stop providing updates.
That’s all I know
Patrick
Another promise of funding from Paul...April 10, 2008
Just got off the phone with Paul, and was told the following:
There are 3 routes to get the funds, (1) Credit Line from tranche of stock via the Bank of Vienna; (2) Credit line via other tranches of stock via other European bank (I didn’t write it down) and (2) Sam via the Chicago company.
The Bank for (1) has confirmed the CL against the stock and the board of directors has been dragging their feet, but is expected to convene tomorrow to sign off and finalize the CL. Once this occurs, Paul will fly to Vienna (expected to be Monday), sign off on the CL and be able to start pulling from it in 24 hours or so, so Tuesday/Wed next week.
Once he is finished in Vienna, he will drive to Bank (2) and expects to finalize that CL on the same day, with ability to pull from its CL during the same timeline.
Once the CL for (1) is finalized, this will put Sam in Chicago more at ease, and he should be able to send over the funds to fund the smaller deals (i.e.-Heights and Amendola) first, along with part of Terry’s I assume, with the remainder of Terry and Dobbins to be funded as RCM pulls from the CLs.
In other words, there are 3 avenues that, depending on which one is completed first, will be used to fund the smaller deals, with the 2 CLs to be used, depending on which one is completed first, to fund the larger ones.
That’s all I know
Patrick
There are 3 routes to get the funds, (1) Credit Line from tranche of stock via the Bank of Vienna; (2) Credit line via other tranches of stock via other European bank (I didn’t write it down) and (2) Sam via the Chicago company.
The Bank for (1) has confirmed the CL against the stock and the board of directors has been dragging their feet, but is expected to convene tomorrow to sign off and finalize the CL. Once this occurs, Paul will fly to Vienna (expected to be Monday), sign off on the CL and be able to start pulling from it in 24 hours or so, so Tuesday/Wed next week.
Once he is finished in Vienna, he will drive to Bank (2) and expects to finalize that CL on the same day, with ability to pull from its CL during the same timeline.
Once the CL for (1) is finalized, this will put Sam in Chicago more at ease, and he should be able to send over the funds to fund the smaller deals (i.e.-Heights and Amendola) first, along with part of Terry’s I assume, with the remainder of Terry and Dobbins to be funded as RCM pulls from the CLs.
In other words, there are 3 avenues that, depending on which one is completed first, will be used to fund the smaller deals, with the 2 CLs to be used, depending on which one is completed first, to fund the larger ones.
That’s all I know
Patrick
April 6, 2008
Paul is now refusing to talk to me because I filed a case with the FBI after this dragged on for more than 6 months!
Sarah, Given the reports that were sent to me by Terry Lee as well as the lawyers in Houston, confirming that you had gone to the FBIto make complaints about us.. I had a discussion concerning you, the FBI and the clients with my lawyers both here in New Zealand as well as the lawyers in London, and they advised me as follows:"Given that it is 'reported' that Sarah Carswell has laid a complaint with the FBI and further that it is 'reported' that her complaint is that what you have done is criminal and fraudulent and the likes.. and potentially that this will finish infront of the courts.. then the matter is considered "sub judecea" . ........accordingly I have been informed / instructed that I do not speak to you or to Terry Lee or anyone further until this matter is resolved one way or the other..because anything that I may say could be used against me and under New Zealand law (which is the law under which the contracts were signed) I do not have to update, advise, speak too you or anything of the like..and further he advises that I say absolutely nothing to you period.Accordingly I am providing this email to you only out of courtesy.. so you know exactly why I am not replying to your emails or taking your calls.We will continue to work for and on behalf of and in the interests of the clients and have discussed with the lawyers in Houston exactly where we are and what we are doing. However beyond this advice I will not be making any further advices or any future calls or emails to you whatsoever. communication will only be directed via the lawyers.. and that contact will be relating to the clients and settlements etc.Paul Douglas.
Sarah, Given the reports that were sent to me by Terry Lee as well as the lawyers in Houston, confirming that you had gone to the FBIto make complaints about us.. I had a discussion concerning you, the FBI and the clients with my lawyers both here in New Zealand as well as the lawyers in London, and they advised me as follows:"Given that it is 'reported' that Sarah Carswell has laid a complaint with the FBI and further that it is 'reported' that her complaint is that what you have done is criminal and fraudulent and the likes.. and potentially that this will finish infront of the courts.. then the matter is considered "sub judecea" . ........accordingly I have been informed / instructed that I do not speak to you or to Terry Lee or anyone further until this matter is resolved one way or the other..because anything that I may say could be used against me and under New Zealand law (which is the law under which the contracts were signed) I do not have to update, advise, speak too you or anything of the like..and further he advises that I say absolutely nothing to you period.Accordingly I am providing this email to you only out of courtesy.. so you know exactly why I am not replying to your emails or taking your calls.We will continue to work for and on behalf of and in the interests of the clients and have discussed with the lawyers in Houston exactly where we are and what we are doing. However beyond this advice I will not be making any further advices or any future calls or emails to you whatsoever. communication will only be directed via the lawyers.. and that contact will be relating to the clients and settlements etc.Paul Douglas.
Another Call to the attorney on April 3, 2008
All-
I received word from Paul that I would have news within 24 hours (this time tomorrow); so I will keep everyone posted as to all this-
This is all I know, so please don’t grill me with questions…
Patrick
I received word from Paul that I would have news within 24 hours (this time tomorrow); so I will keep everyone posted as to all this-
This is all I know, so please don’t grill me with questions…
Patrick
March 31, 2008
Conversely Sarah, you spoke to the banker in Vienna on Friday.. he gave you the timeframes... BE SATISFIED with that.. you will be updated when he believes that you need to know more..Nothing has changed since you spoke to him at 10pm FRIDAY night Europe time.. and it is now 11.45pm Sunday night (the time changed in Europe over the weekend so they are one hour further ahead of you than Friday). I have more than enough to do than to advise you of what is happening hour by hour. Results are what we are working on right now and time taken out from that activity to spend on the emails is non productive and a complete waste of everyones time.so as expressed above... do not make demands of when we will update you.. or when the banker will talk to you again.. I agree with you in one part only and that is "the settlements"... these settlements are what we want more than you do.. !!We will advise what, when, and how.. but we will advise.. you do not demand when that will take place.Paul.
March 26, 2008
Now they promise a letter, not funds.
All-
This is what I received from Paul this morning:
Good evening Patrick,I have just spoken with the bankers in Vienna, and have made arrangements for a letter to be sent to me from the bank confirming that they have received the ''assets" with a value of USD $..................................and that against these assets they have arranged a creditline in the amount of USD $...................................for me to use in settlement of our respective projects.This letter is arranged and will be in my hands either later tonight my time or on my tomorrow.. i thought that this might be some handy ammunition while we make it all work for each and everyone of them.I will advise you immediately that this letter is on hand.Best regards,Paul.
All-
This is what I received from Paul this morning:
Good evening Patrick,I have just spoken with the bankers in Vienna, and have made arrangements for a letter to be sent to me from the bank confirming that they have received the ''assets" with a value of USD $..................................and that against these assets they have arranged a creditline in the amount of USD $...................................for me to use in settlement of our respective projects.This letter is arranged and will be in my hands either later tonight my time or on my tomorrow.. i thought that this might be some handy ammunition while we make it all work for each and everyone of them.I will advise you immediately that this letter is on hand.Best regards,Paul.
Again with the promises...March 24, 2008
I have spoken to Patrick this morning concerning the completion and funding of your file..
and given the nature of the current communications (Sarah's included) I wish to limit the advices regarding such proposed dates to communication between myself, my lawyers and Patrick.
I can in all good faith advise that matters are very very close to you having the funds in your hands and I have been discussing with Patrick this morning the timing of these events.
I do not propose at this time to say that it is going to be 9am this day or that.. for very obvious reasons.. none the less being at 9.01am on that day i would be receiving a further series of communications regardless of where the banks and bankers are at that time. Please be mindful that the bankers in Europe have been on holiday since Thursday evening and will not be back at work until 9am tomorrow (Tuesday morning) at which time I will be speaking to them , our people in Chicago etc etc. after which I will be able to advise Patrick further regards such timing.
Until then, sincerely,
Paul
and given the nature of the current communications (Sarah's included) I wish to limit the advices regarding such proposed dates to communication between myself, my lawyers and Patrick.
I can in all good faith advise that matters are very very close to you having the funds in your hands and I have been discussing with Patrick this morning the timing of these events.
I do not propose at this time to say that it is going to be 9am this day or that.. for very obvious reasons.. none the less being at 9.01am on that day i would be receiving a further series of communications regardless of where the banks and bankers are at that time. Please be mindful that the bankers in Europe have been on holiday since Thursday evening and will not be back at work until 9am tomorrow (Tuesday morning) at which time I will be speaking to them , our people in Chicago etc etc. after which I will be able to advise Patrick further regards such timing.
Until then, sincerely,
Paul
March 21, 2008...a call to the attorney/more promises
I received word from Paul last night and the following is set to occur:
The Chicago group that is set to advance the initial $50M went well yesterday and are in the process to transfer funds to me for the benefit of the projects as expeditiously as possible.
The BG is in the hands of the bankers who are ready to advance $100M to RCM this next week.
In other words, RCM has 2 routes by which to fund the 4 projects, the $50M from Chicago (which will take care of Heights, Amendola, Terry and some of Dobbins) and/or the $100M advance. Paul has been very forthcoming with responding to my emails, speaking to me via phone, etc. and seems extremely confident that one or both of these avenues will hit next week or sooner (although that is doubtful because of the holiday weekend).
That’s all I know, so I suggest all give them next week to make good on this.
The Chicago group that is set to advance the initial $50M went well yesterday and are in the process to transfer funds to me for the benefit of the projects as expeditiously as possible.
The BG is in the hands of the bankers who are ready to advance $100M to RCM this next week.
In other words, RCM has 2 routes by which to fund the 4 projects, the $50M from Chicago (which will take care of Heights, Amendola, Terry and some of Dobbins) and/or the $100M advance. Paul has been very forthcoming with responding to my emails, speaking to me via phone, etc. and seems extremely confident that one or both of these avenues will hit next week or sooner (although that is doubtful because of the holiday weekend).
That’s all I know, so I suggest all give them next week to make good on this.
March 19, 2008...more assurances of funding!
Things are progressing at a rate that we are all happy with in Vienna and the bank has given us a favorable reply, .. and so to facilitate a closing as quick as possible we have arranged a "cash injection" based upon the Bank Guarantee and other collateral we have arranged, from our man in Chicago. I have a telephone conference with them in Chicago in about 7 hours at which time we envisage that everything will be completed. I will advise Patrick of details concerning those transfers as soon as that information is in my hands. At this time I am in their hands.. but can advise we will be settling these matters in full as quickly as is possible.. exact timing will be advised when confirmed to me.Best regards, Paul.
March 18, 2008...we had hope when he called the attorney
All-
I was just phoned by Paul Douglas and was told the following:
They are in the process of finalizing BG (or whatever you do with a BG) in the amount of $123,560,000 USD (I have seen a copy of the BG attesting to this) and will use that, along with shares from the recent purchase of a company, to collateralize a contractual arrangement with a Chicago based company. The company has $50M in funds allocated for this purpose. Paul has already sent the contract to the Chicago Company, the Chicago Company has already agreed to the contract terms (the Chicago Company is waiting by the phone/email to complete this deal) and the funds should be available this week. Once this is completed, the funds for the 3 smaller deals (Terry, Amendola and Heights) will be wired into my IOLTA account, whereupon I will wire them to the respective parties. As stated, he told me this should happen this week, as the Chicago Company is RWA.
RCM is finalizing a larger deal that will have Dobbins attached to it, and Dobbins should be funded either next week or the following week.
You are free to send this to Client #1, but inform him that, prior to disbursing any funds I will require him to sign a formal release with this firm.
I am now waiting for Paul to get back to me about the final docs, etc., which he told me should be in a few days.
Understand that Paul has NEVER called me before and I take this a light at the end of this tunnel.
I was just phoned by Paul Douglas and was told the following:
They are in the process of finalizing BG (or whatever you do with a BG) in the amount of $123,560,000 USD (I have seen a copy of the BG attesting to this) and will use that, along with shares from the recent purchase of a company, to collateralize a contractual arrangement with a Chicago based company. The company has $50M in funds allocated for this purpose. Paul has already sent the contract to the Chicago Company, the Chicago Company has already agreed to the contract terms (the Chicago Company is waiting by the phone/email to complete this deal) and the funds should be available this week. Once this is completed, the funds for the 3 smaller deals (Terry, Amendola and Heights) will be wired into my IOLTA account, whereupon I will wire them to the respective parties. As stated, he told me this should happen this week, as the Chicago Company is RWA.
RCM is finalizing a larger deal that will have Dobbins attached to it, and Dobbins should be funded either next week or the following week.
You are free to send this to Client #1, but inform him that, prior to disbursing any funds I will require him to sign a formal release with this firm.
I am now waiting for Paul to get back to me about the final docs, etc., which he told me should be in a few days.
Understand that Paul has NEVER called me before and I take this a light at the end of this tunnel.
March 19, 2008...Paul says he will arrange settlements
so much for "good faith...".. I took your calls on Saturday.. against my better judgement and told you exactly what the current up to date information was.. additionally I took calls and made calls to Terry to confirm exactly what was what..Unlike yourself when I spoke to Terry..he listened to what I had to say and understood.. and by the time we conveyed messages backand forth three times.. every one was clear...As I advised.. "as soon as the banker in Europe, confirms that the bank guarantee (which he has already received) is clearedand everything is acceptable (which as I advised would be either Monday or Tuesday) then we would be in a position to have fundswithin 24 to 36 hours..."I did not and continue to advise that I DID NOT at any time advise that funds would be there on Wednesday.. that is what you continuallyrepeated to me and I continually advised you that you were NOT listening.. I even slowed down and spoke one word at a time so you would notget confused.. but still and here we are today and you are saying the same...Further Sarah.. I did you the courtesy of advising you this morning.. in writing exactly that every thing was great.. I know you got this advice..because you sent it on to Brett with your little note..
So Sarah, professional courtesy aside.. you will NOT be getting any further advices from me.. because you have insulted me for the last time.. you have also twisted things that I have said to suit yourself for the last time.. I suggest that you concentrate your time and efforts elsewhere and wait for the settlements to take place.Gentlemen, I will be advising Patrick later tonight concerning the timing of the settlements and to make the necessary arrangements..and as necessary will be advising you both of those settlements under separate cover.regards, Paul
So Sarah, professional courtesy aside.. you will NOT be getting any further advices from me.. because you have insulted me for the last time.. you have also twisted things that I have said to suit yourself for the last time.. I suggest that you concentrate your time and efforts elsewhere and wait for the settlements to take place.Gentlemen, I will be advising Patrick later tonight concerning the timing of the settlements and to make the necessary arrangements..and as necessary will be advising you both of those settlements under separate cover.regards, Paul
March 17, 2008...Paul Says All is well...
since the phone has started to ring its nuts off.. I guess it is time for me to wake up and start work again... people.. just a hint..
given that I tend to work with Europe and Dubai as well as the East coast of USA I do tend to work hours that other people would not necessarily work.. it is worse than being a shift worker..
at least as a shift worker people leave you alone when you are supposed to be sleeping..
However that said.. when I got to bed this morning.. (5 hours ago) the bankers had confirmed to me that everything was STILL going well and that we are still on track for this week.
Soon as I get any definite timing regards settlements etc.. I will advise you immediately.. however as above.. it is 100% okay..
Bank is happy.. clients (in Europe) are happy.. office in Dubai is working brilliantly.
regards,
Paul.
given that I tend to work with Europe and Dubai as well as the East coast of USA I do tend to work hours that other people would not necessarily work.. it is worse than being a shift worker..
at least as a shift worker people leave you alone when you are supposed to be sleeping..
However that said.. when I got to bed this morning.. (5 hours ago) the bankers had confirmed to me that everything was STILL going well and that we are still on track for this week.
Soon as I get any definite timing regards settlements etc.. I will advise you immediately.. however as above.. it is 100% okay..
Bank is happy.. clients (in Europe) are happy.. office in Dubai is working brilliantly.
regards,
Paul.
March 16, 2008...Gil Gets Mad!
DEAR ALL
THIS IS WHY I DON'T WANT TO TALK TO SARAH NOW OR ANYMORE SHE CALLS ME THIS MORNING LIKE CRAZY AND TERRY TALKS TO PAUL,,SARAH TALKS TO PAUL AND THEN PAUL LEAVES MASSAGE FOR TERRY I WAS ON ALSO,,SARAH CALL ME AFTER SHE TALK TO AND THEN WANTS ME TO AGREE WHAT PAUL SAYS I WASN'T ON THE CALL....NOW MATT TOLD ME HE SPOKE TO TERRY AND SARAH AND SAID THEY WERE OK,,,I TOLD THIS TO SARAH AND SHE TELL MATT I WAS THROWING HIM UNDER THE BUS THIS IS THE BULLSHIT THAT I DON'T UNDERSTAND SHE LIES,,NOW I CALL TO TELL HER THIS AND SHE DOSE NOT ANSWER THE PHONE THIS IS A FIRST..
GIL
THIS IS WHY I DON'T WANT TO TALK TO SARAH NOW OR ANYMORE SHE CALLS ME THIS MORNING LIKE CRAZY AND TERRY TALKS TO PAUL,,SARAH TALKS TO PAUL AND THEN PAUL LEAVES MASSAGE FOR TERRY I WAS ON ALSO,,SARAH CALL ME AFTER SHE TALK TO AND THEN WANTS ME TO AGREE WHAT PAUL SAYS I WASN'T ON THE CALL....NOW MATT TOLD ME HE SPOKE TO TERRY AND SARAH AND SAID THEY WERE OK,,,I TOLD THIS TO SARAH AND SHE TELL MATT I WAS THROWING HIM UNDER THE BUS THIS IS THE BULLSHIT THAT I DON'T UNDERSTAND SHE LIES,,NOW I CALL TO TELL HER THIS AND SHE DOSE NOT ANSWER THE PHONE THIS IS A FIRST..
GIL
More promises...and no delivery!
for the point of EXTREME clarity.. I will call and advise WHEN I get the confirmation form our bank / bankers.. ONLY WHEN I GET THE CONFIRMATION will I call .. I will not be calling prior to that. WHEN I GET THE ADVICE THAT IT IS RECEIVED AND ACCEPTED... I WILL CALL.. DO NOT ASSUME ANYTHING...I have back up plans as I have advised 'people' before.. and these are subject to getting confirmation that the BG etc is on hand.. accepted and cleared.and further as I told you I will be leaving for Europe "as a result of what is happening in Europe".. so I will not be travelling until these instruments are cleared.Paul.
March 12, 2008...another broken promise!
As per our telephone conversation.. after your email... I can only conclude that some things do not translate well between "kiwi" and american.. cause you missed what I was saying in one or two (several actually) places.. I will go through your email and make the corrections so you have it plain. Best regards, Paul.
At 03:54 p.m. 13/03/2008, Terry wrote:
Paul, I received your voicemail and was happy to hear your update. You are fine up to here..From what I understand, you have cash (not cash.. as I pointed out in our phone call one is a Bank Guarantee and the second one is a "Confirmation of funds / Assets" and the third instrument is a "blocking of funds" )in route from a bank in Belgium to your banker in Europe and you are expecting confirmation of receipt of those funds (no.. expecting to receive the bank advices' tonight..no one mentioned money tonght.) tonight I am expecting confirmation and an update between midnight or 1am your time (I am expecting these advices before midnight / 1am my time - NZ time) At that point, we are expecting to hear that the funds have cleared and posted to your accounts. (upon confirmation by the bankers that any one of these instruments have arrived and any one of these instruments 'cleared' then we will have the funds inside 24 hours. )Please call me at any time of the day or night to update me with when funds will be on hand in Patrick's trust account so we can be funded. You can reach me at 210-xxx-xxxx. I will await your update for funding by close of our work week this week as promised in our conversation last evening.
At 03:54 p.m. 13/03/2008, Terry wrote:
Paul, I received your voicemail and was happy to hear your update. You are fine up to here..From what I understand, you have cash (not cash.. as I pointed out in our phone call one is a Bank Guarantee and the second one is a "Confirmation of funds / Assets" and the third instrument is a "blocking of funds" )in route from a bank in Belgium to your banker in Europe and you are expecting confirmation of receipt of those funds (no.. expecting to receive the bank advices' tonight..no one mentioned money tonght.) tonight I am expecting confirmation and an update between midnight or 1am your time (I am expecting these advices before midnight / 1am my time - NZ time) At that point, we are expecting to hear that the funds have cleared and posted to your accounts. (upon confirmation by the bankers that any one of these instruments have arrived and any one of these instruments 'cleared' then we will have the funds inside 24 hours. )Please call me at any time of the day or night to update me with when funds will be on hand in Patrick's trust account so we can be funded. You can reach me at 210-xxx-xxxx. I will await your update for funding by close of our work week this week as promised in our conversation last evening.
another 100% guarantee!
Client #3 spoke with Paul in New Zealand on March 11, 2008...
Per my conversation with Paul at 5:45 PM today, He has assured me that 100% he will fund the projects this week. ( I know we have all heard this before.) He said that I will have an update from him at 10:00 AM ish in the morning . He will be speaking to the banks in Europe this evening his time to complete the transaction for payouts from BG’s.
He will give me direct update tomorrow. We will see!!
Sarah he does not want you to call Gil until I have heard from him, that should be tomorrow morning.
Well, Let’s see what happens!!
Per my conversation with Paul at 5:45 PM today, He has assured me that 100% he will fund the projects this week. ( I know we have all heard this before.) He said that I will have an update from him at 10:00 AM ish in the morning . He will be speaking to the banks in Europe this evening his time to complete the transaction for payouts from BG’s.
He will give me direct update tomorrow. We will see!!
Sarah he does not want you to call Gil until I have heard from him, that should be tomorrow morning.
Well, Let’s see what happens!!
March 10, 2008...More promises
LOOK IM STILL WORKING ON THIS SO ILLEMAIL YOU BOTH IN THE MORNING OK,,
AND WE SOULD HAVE SOME GOOD NEWS...
GIL
AND WE SOULD HAVE SOME GOOD NEWS...
GIL
Good new promised on March 10, 2008
LOOK IM STILL WORKING ON THIS SO ILLEMAIL YOU BOTH IN THE MORNING OK,,
AND WE SOULD HAVE SOME GOOD NEWS...
GIL
AND WE SOULD HAVE SOME GOOD NEWS...
GIL
March 9, 2008...
We were told they were working on getting short term funds to carry us through...and again that the deals were within a week of funding.
I WAS WORKING ALL DAY AND UP UNTIL 2AM I MEET 3 PEOPLE YESTERDAY FOR A SHORT LOAN NOW BEING THAT IT WAS SATURDAY EVEN IF THEY ALL SAID YES THEY CANT DO ANY THING UNTIL MONDAY,,NOW WE ARE ALL TALKING I'M TRYING TO GET THIS DONE FOR MANY REASON MYSELF AND YOU ALL....
ALL 3 OF THEM AND I HAVE DECIDED UNTIL MONDAY TO SEE IF WE CAN COME TO A DECISION BECAUSE OF THE DEAL AND WHAT THEY WANT IN RETURN...
NOW I DID NOT PROMISE SARAH A DROP DEAD DATE,,I SAID THAT I WILL DO MY BEST TO GET ONE BECAUSE I KNOW THAT WE ARE AT THE END OF THE HELL,,AND I BELIEVE WE WILL BE DONE THIS WEEK....
NOW I WILL TALK TO PAUL TODAY AND EVERY ONE THAT I CAN OVER THERE THAT I CAN TO SEE WHAT DAY WE WILL GET THIS DONE AND I WILL LET YOU KNOW AS SOON AS I FIND OUT...
BEST REGARDS
GIL
I WAS WORKING ALL DAY AND UP UNTIL 2AM I MEET 3 PEOPLE YESTERDAY FOR A SHORT LOAN NOW BEING THAT IT WAS SATURDAY EVEN IF THEY ALL SAID YES THEY CANT DO ANY THING UNTIL MONDAY,,NOW WE ARE ALL TALKING I'M TRYING TO GET THIS DONE FOR MANY REASON MYSELF AND YOU ALL....
ALL 3 OF THEM AND I HAVE DECIDED UNTIL MONDAY TO SEE IF WE CAN COME TO A DECISION BECAUSE OF THE DEAL AND WHAT THEY WANT IN RETURN...
NOW I DID NOT PROMISE SARAH A DROP DEAD DATE,,I SAID THAT I WILL DO MY BEST TO GET ONE BECAUSE I KNOW THAT WE ARE AT THE END OF THE HELL,,AND I BELIEVE WE WILL BE DONE THIS WEEK....
NOW I WILL TALK TO PAUL TODAY AND EVERY ONE THAT I CAN OVER THERE THAT I CAN TO SEE WHAT DAY WE WILL GET THIS DONE AND I WILL LET YOU KNOW AS SOON AS I FIND OUT...
BEST REGARDS
GIL
Thursday, July 31, 2008
February 29, 2008---supposed to be funded within 36 hours
Received you mail a little while ago.. and to be fair.. can understand your frustrations.. and as you rightfully point out.. we have been as frustrated as you guys for the same reasons.. and others.. however to get right down to it.. I can advise you as follows:1. The Bank Guarantee (as attached) has been sent to our bankers (via HSBC - just like Gil said) and they (HSBC) have confirmed to my bankers that they have received it and are working as quick as they can to get it moved over to my bank and bankers. Once confirmed that the bankers have it on hand and all is okay with it.. (and I have absolutely no concerns about this at this time.. I know the client and the bankers that this has come from.. and they are SOLID..!! as above once confirmed.. I will have the cash to settle you (and our other clients) within 36 hours..2. additionally I have another Bank Guarantee (of which I am holding the MT799 transfer copies) arriving at our bank in Vienna which has come to me via Dresdner Bank in Germany.. and similarly to the situation in ( 1 above) as soon as the BG is confirmed as being on hand we will have the cash in 36 hours.. as above I know the client who in this instance happens to be the United Nations.. they have put up a chunk of cash for a project and our client (who happens to be the Finance minister for that country ) is investing it with us. for a twelve month period.. we help to build the school and hospital as a result of our profits from the investment and at the end of the 12 month term we give him a large chunk of cash monies to build other infrastructure in his country and also put the BG back in his hands..Client #3, as above it has been a struggle for you, me Gil and everyone else.. aside from dealing with a few delusional brokers in the USA.. making all sorts of weird and wonderful statements simply to get folks off the phone.. while making life so much more difficult for those of us working to make these projects and funding happen for everyone. While we might be 10,000 kilometres away we are very aware of the financial difficulties that folks are finding themselves in all over the country.. while most folks in USA only know of New Zealand from the "Lord of the Rings" or Zena or whatever.. we know the States on a minute by minute basis.. we have CNN, CNBC , NBC etc all arriving down here live 24 hours a day.. and are very aware of exactly how tough it is.. We will be doing absolutely everything possible to move this forward in any way possible.. but please be assured.. this is the truth.. and nothing but..I personally expect to have this wrapped up and completed during the early part of next week and will endeavour to keep you updated either directly as time permits or via Gil.. who is getting a copy of this so he knows exactly what i have told you..Best regards, Paul.
February 25, 2008---told us we would be funded "tomorrow"
ITS GOING TO BE TIGHT ON THE FUNDS WE ARE GETTING THIS DONE,,,, AND IT SOON I'M WAITING ON SOME PAPER WORK THIS WILL BE TOMORROW MATT KNOWS OF THIS..THEN THEY TRANSFER OUT ALL...PLEASE IF THIS IS TRUE ON YOUR HOUSE ILL KEEP U UPDATED ON THE TRANSFER NOW I DON'T WANT YOU TO EMAIL ME ANYTHING OR SEND ME ANYTHING ILL UPDATE BY EMAIL..
GIL
GIL
February 10, 2008
This is what I received from Paul yesterday.
I can concur from what I know is that Sarah has been so out rightly annoying that things have been said simply to get her off the telephone lines.. and some of that has been reported back and forth along with the real facts of the matter have caused this confusion, all of which has served to achieve nothing but annoy the hell out of everyone concerned.. however that said I can advise you of the following which is the fact s as they stand right at this minute.
1. We had and still do have EVERY intent to fund our clients (yourself included).. there has never been any other intent from our side.. situation is that I have 450 million dollars of Bank Guarantees sitting in the bank in Sydney Australia which have been there since October and we have not been able to get them cleared via the bank in Sydney.. nor the issuing bank.. if they had of cleared we would have been able to fund immediately.2. Consequence of that we had to bring other Bank Guarantees into the bank.. (which we have done) the latest arriving in the past few days and we are literally waiting for the European Bank to affirm these guarantees as genuine.. (which we know they are cause they were issued by a Government - the original funds coming from the United Nations). - Soon as the bank gets the go ahead my trustee bank can draw down on the credit lines ( Which have already been approved - as per my letters) and then the transfers can take place via my lawyers here to the lawyers in the USA (Patrick) for immediate settlements.That is the update as of 30 seconds ago.. so you can not get news any fresher than that.I will advise immediately.. that the bank gets the go ahead regarding the collateral (bank guarantees) - this information is due and expected in the next two / three / four days.. the exact minute / hour or day I can not give you.. all I know from what the bankers have advised me is it will be VERY soon.
I can concur from what I know is that Sarah has been so out rightly annoying that things have been said simply to get her off the telephone lines.. and some of that has been reported back and forth along with the real facts of the matter have caused this confusion, all of which has served to achieve nothing but annoy the hell out of everyone concerned.. however that said I can advise you of the following which is the fact s as they stand right at this minute.
1. We had and still do have EVERY intent to fund our clients (yourself included).. there has never been any other intent from our side.. situation is that I have 450 million dollars of Bank Guarantees sitting in the bank in Sydney Australia which have been there since October and we have not been able to get them cleared via the bank in Sydney.. nor the issuing bank.. if they had of cleared we would have been able to fund immediately.2. Consequence of that we had to bring other Bank Guarantees into the bank.. (which we have done) the latest arriving in the past few days and we are literally waiting for the European Bank to affirm these guarantees as genuine.. (which we know they are cause they were issued by a Government - the original funds coming from the United Nations). - Soon as the bank gets the go ahead my trustee bank can draw down on the credit lines ( Which have already been approved - as per my letters) and then the transfers can take place via my lawyers here to the lawyers in the USA (Patrick) for immediate settlements.That is the update as of 30 seconds ago.. so you can not get news any fresher than that.I will advise immediately.. that the bank gets the go ahead regarding the collateral (bank guarantees) - this information is due and expected in the next two / three / four days.. the exact minute / hour or day I can not give you.. all I know from what the bankers have advised me is it will be VERY soon.
March 24, 2008
Another email from Paul...now refusing to deal with the clients or make promises, but stating that we are "very close to having funds in our hands"...that was four months ago and we still do not have any funding.
Good afternoon Client #1,
I have spoken to the escrow attorney this morning concerning the completion and funding of your file..
and given the nature of the current communications (Sarah's included) I wish to limit the advices regarding such proposed dates to communication between myself, my lawyers and the escrow attorney.
I can in all good faith advise that matters are very very close to you having the funds in your hands and I have been discussing with the escrow attorney this morning the timing of these events.
I do not propose at this time to say that it is going to be 9am this day or that.. for very obvious reasons.. none the less being at 9.01am on that day i would be receiving a further series of communications regardless of where the banks and bankers are at that time. Please be mindful that the bankers in Europe have been on holiday since Thursday evening and will not be back at work until 9am tomorrow (Tuesday morning) at which time I will be speaking to them , our people in Chicago etc etc. after which I will be able to advise the escrow agent further regards such timing.
Until then, sincerely,
Paul
Good afternoon Client #1,
I have spoken to the escrow attorney this morning concerning the completion and funding of your file..
and given the nature of the current communications (Sarah's included) I wish to limit the advices regarding such proposed dates to communication between myself, my lawyers and the escrow attorney.
I can in all good faith advise that matters are very very close to you having the funds in your hands and I have been discussing with the escrow attorney this morning the timing of these events.
I do not propose at this time to say that it is going to be 9am this day or that.. for very obvious reasons.. none the less being at 9.01am on that day i would be receiving a further series of communications regardless of where the banks and bankers are at that time. Please be mindful that the bankers in Europe have been on holiday since Thursday evening and will not be back at work until 9am tomorrow (Tuesday morning) at which time I will be speaking to them , our people in Chicago etc etc. after which I will be able to advise the escrow agent further regards such timing.
Until then, sincerely,
Paul
Gil doesn't want to deal with me anymore...
February 3, 2008:
I THINK I NEED TO DEAL WITH THEM ALL DIRECT SO THIS WONT BE A PROBLEM FOR YOU AND YOU CAN DEAL WITH YOUR PROBLEMS ON HAND ,,,,,SO I WILL BE EMAIL ALL TOMORROW THAT I WILL DEAL WITH THEM DIRECT SO I DON'T HAVE TO DO THIS WITH YOU EVERY DAY SO YOU CAN CONCENTRATE ON YOUR ISSUE OK...WE ARE REALLY SORRY FOR THE BROKEN PROMISES AS YOU SAY,,, WE TELL YOU AND THEM WHAT THEY TELL US,,,,, IF THIS WAS NOT GOING TO HAPPEN I WOULD TELL ALL OK....... SO WHAT ALL ARE GOING THROUGH WE ARE GOING THROUGH MORE OK....
I THINK I NEED TO DEAL WITH THEM ALL DIRECT SO THIS WONT BE A PROBLEM FOR YOU AND YOU CAN DEAL WITH YOUR PROBLEMS ON HAND ,,,,,SO I WILL BE EMAIL ALL TOMORROW THAT I WILL DEAL WITH THEM DIRECT SO I DON'T HAVE TO DO THIS WITH YOU EVERY DAY SO YOU CAN CONCENTRATE ON YOUR ISSUE OK...WE ARE REALLY SORRY FOR THE BROKEN PROMISES AS YOU SAY,,, WE TELL YOU AND THEM WHAT THEY TELL US,,,,, IF THIS WAS NOT GOING TO HAPPEN I WOULD TELL ALL OK....... SO WHAT ALL ARE GOING THROUGH WE ARE GOING THROUGH MORE OK....
January 22, 2008 and still not word...
So, the nasty emails continue from Gil...
HELLO PAUL AND ALL
LAST NIGHT SARAH HAS CALLED ME LAST NIGHT OVER AND OVER MOBIL AND LAND LINE,,,,I HAD A DEATH IN THE FAMILY AND WAS ON THE PHONE WHEN SHE WAS DOING THIS....NOW I KNOW MY PERSONAL AFFAIRS HAS NOTHING TO DO WITH THIS BUT SHE HAS DONE THIS SINCE I DAY ONE,,, THEN WHAT EVER YOU ARE DOING ALL SHE SAYS IS WHATS UP....NOW ALL I WANT IS THIS DONE AS SOON AS WE CAN WE HAVE MAD EVERY POSSIBLE WAY TO GET THIS DONE AS FAST AS WE CAN,,,WE WANT HER OUT OF MY LIFE AS FAST AS WE CAN SO....
SO THIS IS WHY LAST NIGHT I UNPLUG EVERYTHING SARAH GET A HOBBY...
BEST REGARDS
GIL
HELLO PAUL AND ALL
LAST NIGHT SARAH HAS CALLED ME LAST NIGHT OVER AND OVER MOBIL AND LAND LINE,,,,I HAD A DEATH IN THE FAMILY AND WAS ON THE PHONE WHEN SHE WAS DOING THIS....NOW I KNOW MY PERSONAL AFFAIRS HAS NOTHING TO DO WITH THIS BUT SHE HAS DONE THIS SINCE I DAY ONE,,, THEN WHAT EVER YOU ARE DOING ALL SHE SAYS IS WHATS UP....NOW ALL I WANT IS THIS DONE AS SOON AS WE CAN WE HAVE MAD EVERY POSSIBLE WAY TO GET THIS DONE AS FAST AS WE CAN,,,WE WANT HER OUT OF MY LIFE AS FAST AS WE CAN SO....
SO THIS IS WHY LAST NIGHT I UNPLUG EVERYTHING SARAH GET A HOBBY...
BEST REGARDS
GIL
They get abusive...
Gil does not like being expected to perform to his word and starts sending nasty emails.
SEE THIS WHY WE DON'T WANT TO DEAL WITH YOU,,, BECAUSE OF THIS SHIT,,I'M ON A CONFERENCE CALL AND YOU ARE CALLING MY LAND LINE AND MOBIL WE ARE DOING ALL WE CAN I TOLD MATT THAT WE WILL GET A LETTER OUT TO PAT FOR TERRY AND THE OTHERS SO WHEN I GET THIS TONIGHT OUR TOMORROW MORNING I WILL FORWARD ON....YOU GIVE YOU A INCH YOU TAKE A MILE.... IF TOMORROW IS TO LATE ,,,,YOU BEEN SAYING THIS SHIT SINCE I MEET YOU OK... SO I WILL CALL YOUR BUSINESS PARTNER MATT AND SEND HIM EVERYTHING AND COPY YOU OK....
GIL
SEE THIS WHY WE DON'T WANT TO DEAL WITH YOU,,, BECAUSE OF THIS SHIT,,I'M ON A CONFERENCE CALL AND YOU ARE CALLING MY LAND LINE AND MOBIL WE ARE DOING ALL WE CAN I TOLD MATT THAT WE WILL GET A LETTER OUT TO PAT FOR TERRY AND THE OTHERS SO WHEN I GET THIS TONIGHT OUR TOMORROW MORNING I WILL FORWARD ON....YOU GIVE YOU A INCH YOU TAKE A MILE.... IF TOMORROW IS TO LATE ,,,,YOU BEEN SAYING THIS SHIT SINCE I MEET YOU OK... SO I WILL CALL YOUR BUSINESS PARTNER MATT AND SEND HIM EVERYTHING AND COPY YOU OK....
GIL
Holiday excuses...
...an email from Gil on December 28, 2007
the banks are on a skeleton crew because of the holidays i will update you today when i speak to or the banker ok.....
the banks are on a skeleton crew because of the holidays i will update you today when i speak to or the banker ok.....
More promises of imminent funding...
As previously advised I will let you know by phone and or email (most likely both) the very minute the cash is clear in my account.. we do expect and have been expecting this to take place imminently.with regard to Clients #1 and #2.. these settlements would take place on the very same day.. cause there is no hold up or other things to arrange,,with Clients #3 and #4.. both would be settled approximately 7 days after the first two.. so that will give us an approximate guideline that we can reply on.. Appreciate all that you are doing.. and we are doing the same.Very best regards, Paul.
As previously advised I will let you know by phone and or email (most likely both) the very minute the cash is clear in my account.. we do expect and have been expecting this to take place imminently.with regard to Clients #1 and #2.. these settlements would take place on the very same day.. cause there is no hold up or other things to arrange,,with Clients #3 and #4.. both would be settled approximately 7 days after the first two.. so that will give us an approximate guideline that we can reply on.. Appreciate all that you are doing.. and we are doing the same.Very best regards, Paul.
Paul Gets Mad...December 6, 2007
I have today been subjected to the most unbelievable and unreasonable tirade from both partners on client #2 project with regard their project, the funding process and the transfer of funds..Consequence of this... you can please take note of the following facts and information....Fact... 1. Given that these two initial projects Clients #1 and #2 are being funded out of my own personal funds.. (i.e. my commissions from work that I have personally done with the Trust and further that as a result of these earnings I was happy to "put that money back into circulation" it is my decision to proceed or stop as and when I see fit.2. Yes we have all suffered because of these delays.. which have been completely out of my control and beyond the control of my bankers and or attorney / lawyers.. and despite what they had to say in his opening gambit this morning... I most certainly do understand.. none the less the people in Africa who I support.. having to wait for the money before we can get the next shipment of food aid over to them.. 40 tonnes of it are sitting in containers waiting to be airlifted.. right now as we speak.. so people like him do not really know what they are saying.. and I accept that is because of ignorance.. only problem is that some people have more ignorance than others.3. Would any banker or lender be happy to receive the type of emails that these two gentlemen have been party too in the past few days.. yes there have been delays.. and as above apart from the serious and on going need to have monies available for the projects and peoples that I support both here in New Zealand as well as other Aid activities that my trust, my company and my family look after.. we also have two settlements that we are seeking to have completed.. and that is hurting me here personally as well.. so YES I do understand.. However those matters aside... please consider that the matter with Client #2 is at an end.. and accordingly the funds as transferred to my accounts herein New Zealand will be returned to your office forthwith.Under no circumstances would I ever have considered lending money to either of these people iftheir lack of business acumen and or professionalism had been displayed to me prior to theirapplication landing on my desk.The other transactions currently being processed will continue to a conclusion and be funded in due course.Yours sincerely, Paul Douglas
No funds were ever returned to this client and they are still not funded!
No funds were ever returned to this client and they are still not funded!
December 2, 2007-Paul's responses in CAPS
Paul went so far as to say that the funds were just waiting to clear customs and that all the paperwork had been done...
Good Morning Paul- Hope you had a relaxing weekend. Just wanted to see when we should have some update about the four clients. Please help me with the following questions: 1. Has all the paperwork been completed for the Client #2 & Client #1? YES In other words, its my understanding that the funds go from customs (where the delay is) to your account, to your lawyers account, to my account for Client #2 & Client#1s attorney for his deal. Have you already made the preparations with your bank and your attorney so that your signature will not be needed to effectuate these transfers ultimately to the clients? YES 2. Have the funds for the Heights & Amendola at least cleared customs yet? IT IS CURRENTLY 8AM IN THE MORNING DOWN HERE.. (I.E. PCT MINUS 3 HOURS) When will I hear from your attorney? AT PREVIOUSLY ADVISED.. ONCE THE FUNDS TRANSFER INTO HIS ACCOUNT. I am available all day and can be reached at 713-xxx-xx31 NOTED AND ADVISED. 3. Have the funds come in from Zurich for Client #3 & Client #4 NOT YET.. BUT AS BEFORE IT IS ONLY 8AM .. and have all the pre-work been done for them YES as well so that your signature has already been provided to effectuate the transfers? YES BEST REGARDS, PAUL.
Good Morning Paul- Hope you had a relaxing weekend. Just wanted to see when we should have some update about the four clients. Please help me with the following questions: 1. Has all the paperwork been completed for the Client #2 & Client #1? YES In other words, its my understanding that the funds go from customs (where the delay is) to your account, to your lawyers account, to my account for Client #2 & Client#1s attorney for his deal. Have you already made the preparations with your bank and your attorney so that your signature will not be needed to effectuate these transfers ultimately to the clients? YES 2. Have the funds for the Heights & Amendola at least cleared customs yet? IT IS CURRENTLY 8AM IN THE MORNING DOWN HERE.. (I.E. PCT MINUS 3 HOURS) When will I hear from your attorney? AT PREVIOUSLY ADVISED.. ONCE THE FUNDS TRANSFER INTO HIS ACCOUNT. I am available all day and can be reached at 713-xxx-xx31 NOTED AND ADVISED. 3. Have the funds come in from Zurich for Client #3 & Client #4 NOT YET.. BUT AS BEFORE IT IS ONLY 8AM .. and have all the pre-work been done for them YES as well so that your signature has already been provided to effectuate the transfers? YES BEST REGARDS, PAUL.
December 1, 2007
Funds were supposed to be out within the week...again, now July 31, 2008 and we still have not been funded on any one of the four projects.
Seems like stuff still does not translate well from "Kiwi English" to America English"... (must be a bit like Apple Mac and Microsoft Windows.."'cause I am going to be "in hospital" on my Tuesday.. for an Angioplasty and stuff.. I hope and pray that I will be back out and available for "light duties" on my Wednesday.. and that by that time everything will already be wrapped up.. With Terry and Dobbins I expect that your time frames for next week are "not to far out" and that we can have them wrapped up and done by your Friday as well..However... as below... I will confirm these matters personally to you by phone.. when each cash amount goes into my bank account and also once this is transferred to my lawyers account for him to settle with you..that will not change no matter where I am.. Thanks for the prayers.. and thoughts it is much appreciated..Best regards, Paul.
Seems like stuff still does not translate well from "Kiwi English" to America English"... (must be a bit like Apple Mac and Microsoft Windows.."'cause I am going to be "in hospital" on my Tuesday.. for an Angioplasty and stuff.. I hope and pray that I will be back out and available for "light duties" on my Wednesday.. and that by that time everything will already be wrapped up.. With Terry and Dobbins I expect that your time frames for next week are "not to far out" and that we can have them wrapped up and done by your Friday as well..However... as below... I will confirm these matters personally to you by phone.. when each cash amount goes into my bank account and also once this is transferred to my lawyers account for him to settle with you..that will not change no matter where I am.. Thanks for the prayers.. and thoughts it is much appreciated..Best regards, Paul.
November 30, 2007
Paul tells us that a large sum of cash is in route to his accounts in New Zealand...and yet, here it is on July 31, 2008 and we have not settled these deals. What happened to the cash, Paul???
I do not know how when I speak English.. and advise simple information that this looses what I have to say when it gets translated into American. So to avoid any further translation issues I am stating how it is as simply as possible.FACTS.1. At this point in time there is a "HUGE" sum of money on its way form the bank / trust in Zurich to my accounts down here.. (this is for the two deals in America - Amendola and "the Heights" as well as a very large project that my company is involved with in China2. These funds are NOT yet cleared into my accounts.. 3. The bank / bankers and authorities are doing what they can to expedite this clearance. 4. Upon this clearance taking place - I will transfer into my lawyers account such funds as are necessary to settle both of your clients requirements. ( As advised to Sarah.. once this has happened I will call and confirm that the funds are now in my (and / or) his account.)5. Once these funds are in his account he (my lawyer) will contact Patrick to effect settlements and closing and then transfer such settlement to Patrick directly from HIS Trust account to such accounts as confirmed directly between Patrick and my lawyer.6. Copies of all of the settlements (including the fees applicable to Sarah - which will be transferred directly to her accounts) will be forwarded to Patrick for his handling and respective advices to the various parties.SUMMARY.It is known that the clients and all concerned in this have had a rough ride.. and for some of that I apologise (even though the delays are out of my control) it is hard when we are waiting for events to unfold to understand the processes and timing of events.. However as I stated to Sarah a few minutes ago.. while she is dealing with people wanting to finish their projects.. I have a Government wanting to finalise matters on this project prior to the 12 December and they are pushing considerably harder (and the penalties for not closing are extreme) so believe me when I say that I also understand the frustrations.Sincerely, Paul.
I do not know how when I speak English.. and advise simple information that this looses what I have to say when it gets translated into American. So to avoid any further translation issues I am stating how it is as simply as possible.FACTS.1. At this point in time there is a "HUGE" sum of money on its way form the bank / trust in Zurich to my accounts down here.. (this is for the two deals in America - Amendola and "the Heights" as well as a very large project that my company is involved with in China2. These funds are NOT yet cleared into my accounts.. 3. The bank / bankers and authorities are doing what they can to expedite this clearance. 4. Upon this clearance taking place - I will transfer into my lawyers account such funds as are necessary to settle both of your clients requirements. ( As advised to Sarah.. once this has happened I will call and confirm that the funds are now in my (and / or) his account.)5. Once these funds are in his account he (my lawyer) will contact Patrick to effect settlements and closing and then transfer such settlement to Patrick directly from HIS Trust account to such accounts as confirmed directly between Patrick and my lawyer.6. Copies of all of the settlements (including the fees applicable to Sarah - which will be transferred directly to her accounts) will be forwarded to Patrick for his handling and respective advices to the various parties.SUMMARY.It is known that the clients and all concerned in this have had a rough ride.. and for some of that I apologise (even though the delays are out of my control) it is hard when we are waiting for events to unfold to understand the processes and timing of events.. However as I stated to Sarah a few minutes ago.. while she is dealing with people wanting to finish their projects.. I have a Government wanting to finalise matters on this project prior to the 12 December and they are pushing considerably harder (and the penalties for not closing are extreme) so believe me when I say that I also understand the frustrations.Sincerely, Paul.
More Lies...Paul's response in red
Thanks, Paul...A couple of questions... 1. Client #3's contract expires today and he loses $50K to the seller if he does not provide proof of funding by 5pm in Texas today? Can we get a firm committment letter? Will his deal be funded tonight or tomorrow? am printing this off right now... Patrick sent over a draft.. which needed a little bit of tweaking.. and i have just heard back form our lawyer confirming what i can say and what i can not.. so it will be there in a few minutes. 2. Client #1 and #2...will these deals be funded tonight or tomorrow? as I advised you last night.. they will be funded within a few hours.. once those funds have cleared into our accounts.. Have funds been cleared and posted to your trust account in New Zealand? as per number 2 above.. we have the champagne in the bucket.. and two glasses on standby.. I will let you know when we have let the corks fly..!! Paul.
November 29, 2007
Paul is hoping for good news:
Hi xxxx, Thank you for all this detail.. it is brilliant... YES it would be handy if you could repeat the email you have previously sent regarding your payments etc.. this way i can add it directly to the correct files..Best regards, Paul.P.S. Meeting the bankers at 2.30 pm this afternoon so hopefully good news will flow to all following this meeting..
Hi xxxx, Thank you for all this detail.. it is brilliant... YES it would be handy if you could repeat the email you have previously sent regarding your payments etc.. this way i can add it directly to the correct files..Best regards, Paul.P.S. Meeting the bankers at 2.30 pm this afternoon so hopefully good news will flow to all following this meeting..
November 27, 2007
Paul is not happy with us:
After my last email I thought you may have got the message that I was going to bed to catch upon some sleep.. 'cause you allexpect for me to be working tonight with the Trust in Zurich...and that does not happen when I have been awake for more than20 hours of the past 24.. and following the workload over the weekend... If my cardiologist even knew HALF .. he would have my butt back in the Surgical Ward.. (where I have to be again next Tuesday 4th)so put it in the Diary and do not expect anything from me for at least 36 hours at that time....Client #3.. was at absolutely NO time EVER told that there would be no fees on his file.. and to the contrary even under his own signaturehe signed and returned that the fee was dropped from 24,000 to 6,000. So sir.. if he wants to have a go... then by God I am just aboutangry enough to say "bring it on".... Everyone everywhere in the world knows what the state of the mortgage market in the USA is right now.. and none more so that the Trust itself.... so politely as I can.. I suggest that all of these cowboys should just cool their heals... cause you know just like I do... that if therewas anywhere else in the world for them to get their money.. they would already be talking to them..Additionally you point out that these projects mean the world to them.... if that was sincerely the case them you would expect that they wouldin at least two of the cases that we have been presented.. not be borrowing 100% of the project... I could just fall in love with a project as well...if it was doing it with someone else's money..!!As before ALL has been arranged.. and these deals will be settled.. but by jumping on phones 20 times a day and bugging people.. that is theclient's phoning me.. emailing me and then you and Gil repeating the call all over again.. does not make for a sensible or reasonable use of mytime.I will call you and email you and fax you if necessary as soon as I get the copy.. then we will be buggin you for settlement details 40 times a day... so rest up.. cause that is what I am trying to do.Respectfully, Paul.
After my last email I thought you may have got the message that I was going to bed to catch upon some sleep.. 'cause you allexpect for me to be working tonight with the Trust in Zurich...and that does not happen when I have been awake for more than20 hours of the past 24.. and following the workload over the weekend... If my cardiologist even knew HALF .. he would have my butt back in the Surgical Ward.. (where I have to be again next Tuesday 4th)so put it in the Diary and do not expect anything from me for at least 36 hours at that time....Client #3.. was at absolutely NO time EVER told that there would be no fees on his file.. and to the contrary even under his own signaturehe signed and returned that the fee was dropped from 24,000 to 6,000. So sir.. if he wants to have a go... then by God I am just aboutangry enough to say "bring it on".... Everyone everywhere in the world knows what the state of the mortgage market in the USA is right now.. and none more so that the Trust itself.... so politely as I can.. I suggest that all of these cowboys should just cool their heals... cause you know just like I do... that if therewas anywhere else in the world for them to get their money.. they would already be talking to them..Additionally you point out that these projects mean the world to them.... if that was sincerely the case them you would expect that they wouldin at least two of the cases that we have been presented.. not be borrowing 100% of the project... I could just fall in love with a project as well...if it was doing it with someone else's money..!!As before ALL has been arranged.. and these deals will be settled.. but by jumping on phones 20 times a day and bugging people.. that is theclient's phoning me.. emailing me and then you and Gil repeating the call all over again.. does not make for a sensible or reasonable use of mytime.I will call you and email you and fax you if necessary as soon as I get the copy.. then we will be buggin you for settlement details 40 times a day... so rest up.. cause that is what I am trying to do.Respectfully, Paul.
November 15, 2007
More emails from Paul:
Good evening Patrick, We are standing by waiting for the copies etc of all matters.. as advised to you this morning.. additionally with regard to Client #3... his stuff is still sitting in Zurich waiting on the Trust to act upon it.. Mr "I am in".. "I am out".. I am in".. "I am out".. and now I am "back in again"... is not in what I would call "the priority list..."The file is being dealt with.. but the others will have "long grey beards" before ....he is satisfied.Client #4 is proceeding quite quickly and we expect to have "major movement" on that in the next few days as well.. will advise.Going back to sleep now.. last nights flight was 18 hours in total.. and a very upset crying baby shared the plane in the seats next to Dianaand myself..Regards, Paul.
Good evening Patrick, We are standing by waiting for the copies etc of all matters.. as advised to you this morning.. additionally with regard to Client #3... his stuff is still sitting in Zurich waiting on the Trust to act upon it.. Mr "I am in".. "I am out".. I am in".. "I am out".. and now I am "back in again"... is not in what I would call "the priority list..."The file is being dealt with.. but the others will have "long grey beards" before ....he is satisfied.Client #4 is proceeding quite quickly and we expect to have "major movement" on that in the next few days as well.. will advise.Going back to sleep now.. last nights flight was 18 hours in total.. and a very upset crying baby shared the plane in the seats next to Dianaand myself..Regards, Paul.
November 22, 2007
On this date, we received a signed, sealed letter from Stephen Paul Douglas indicating that the approvals for Client #1 and #2 we already done and that funds had been remitted to the trust accounts in New Zealand to settle these deals.
Again, that was November 22, 2007 and it is now July 31, 2008. To date, these deals still have not been funded.
Again, that was November 22, 2007 and it is now July 31, 2008. To date, these deals still have not been funded.
More and More Promises...November 2007
Hi Gil, Here are the answers to the questions asked..
Client #1- will definitely sue Jackson, will probably sue me, Sarah, Matt, you and RC Marketing. In all these, the damages would be easy to assess (loss of opportunity costs, i.e.- profits derived from the project, along with their earnest money, paid fees, and all other costs and expenses) at all times we have been told that they needed to be funded by the end of the month.. and everything is still scheduled for that to happen. Despite the amount of time that it took for Matthew Jackson to get back to us with the details. some aspects of these files have NEVER been answered but in order to achieve the funding in the required time we have shelved the unanswerd questions and given instructions to the lawyer to go ahead ASAP. Remember also that they only asked for the additional 500,000 US dollars during the course of last week..
Client #2- I know #2 wants to sue Jackson, and they could easily sue all of us and, because it would be a suit on a written contract, they would automatically get attys fees, etc. and would undoubtedly win against all of us. Also, because I have been acting in the capacity of lawyer, they could file a grievance against me with the State of Texas Bar, whereupon I would get publicly reprimanded (which would ruin my legal reputation) or disbarred. the comments on the Amendola file are identical to this and as above the lawyers have been instructed and we still believe that they will have the proposed loan by the end of the month.. despite USA having "the Holiday.."
Client #3- if #3 project isnt funded by Monday the 26th, he will lose his $150K that he borrowed from an associate of his. The associate will likely go after #3 for this. If #3 wanted to, he could go after all of us for the earnest $ and lost opportunity costs. Also, since my law partner has been acting in the capacity of an attorney, his law license is on the line here also. Well "hello... so far we do not even have a signed agreement with this file .. let alone the client information nor any of the other information... or the fees ..so if he wants us to "pull a rabbit out of the hat" for him.. I am prepared to burn some midnight oil.. BUT I need the information. In other words, if these parties lose their projects, they will be able to successfully sue us for A LOT more than just the up front fees that have been charged thus far. I dont know about Virginia law, but in Texas, these people would be successful in any such lawsuits, which would potentially leave us all destitute and us losing our law licenses. So, the 3 questions I desperately need answered:
When will the Client #1 and #2 fund? I firmly believe that this will take place over the course of the next few days
Will Client #3's project fund before November 27th? not a show in "hades".. unless I get all of the requested information.
Can I have Tim the NY attorneys contact info and try to reach him myself? I could probably educate him in 10 mins on TX real estate law & could even do it via email- Tim is "out of State".. at present.. and I believe that he will not be back before "the holiday".. so is likely that we will use athe office in LA to settle this via the NZ lawyers office. Best regards, Paul.
Client #1- will definitely sue Jackson, will probably sue me, Sarah, Matt, you and RC Marketing. In all these, the damages would be easy to assess (loss of opportunity costs, i.e.- profits derived from the project, along with their earnest money, paid fees, and all other costs and expenses) at all times we have been told that they needed to be funded by the end of the month.. and everything is still scheduled for that to happen. Despite the amount of time that it took for Matthew Jackson to get back to us with the details. some aspects of these files have NEVER been answered but in order to achieve the funding in the required time we have shelved the unanswerd questions and given instructions to the lawyer to go ahead ASAP. Remember also that they only asked for the additional 500,000 US dollars during the course of last week..
Client #2- I know #2 wants to sue Jackson, and they could easily sue all of us and, because it would be a suit on a written contract, they would automatically get attys fees, etc. and would undoubtedly win against all of us. Also, because I have been acting in the capacity of lawyer, they could file a grievance against me with the State of Texas Bar, whereupon I would get publicly reprimanded (which would ruin my legal reputation) or disbarred. the comments on the Amendola file are identical to this and as above the lawyers have been instructed and we still believe that they will have the proposed loan by the end of the month.. despite USA having "the Holiday.."
Client #3- if #3 project isnt funded by Monday the 26th, he will lose his $150K that he borrowed from an associate of his. The associate will likely go after #3 for this. If #3 wanted to, he could go after all of us for the earnest $ and lost opportunity costs. Also, since my law partner has been acting in the capacity of an attorney, his law license is on the line here also. Well "hello... so far we do not even have a signed agreement with this file .. let alone the client information nor any of the other information... or the fees ..so if he wants us to "pull a rabbit out of the hat" for him.. I am prepared to burn some midnight oil.. BUT I need the information. In other words, if these parties lose their projects, they will be able to successfully sue us for A LOT more than just the up front fees that have been charged thus far. I dont know about Virginia law, but in Texas, these people would be successful in any such lawsuits, which would potentially leave us all destitute and us losing our law licenses. So, the 3 questions I desperately need answered:
When will the Client #1 and #2 fund? I firmly believe that this will take place over the course of the next few days
Will Client #3's project fund before November 27th? not a show in "hades".. unless I get all of the requested information.
Can I have Tim the NY attorneys contact info and try to reach him myself? I could probably educate him in 10 mins on TX real estate law & could even do it via email- Tim is "out of State".. at present.. and I believe that he will not be back before "the holiday".. so is likely that we will use athe office in LA to settle this via the NZ lawyers office. Best regards, Paul.
More Empty Promises
Another email in which funding is promised imminently dated November 15, 2007:
Good afternoon Gil, The following information has been supplied to our lawyers for them to prepare the loan agreement / documentsfor signing by , concerning their project in "The Heights", Houston TexasNAME OF CLIENT :
Houston Texas 77004 U.S.A.
ADDRESS OF PROJECT : Houston, TexasAMOUNT OF LOAN : USD $2,200,000.00 (Two Million Two Hundred Thousand US dollars) INTEREST ON LOAN : 4% (FOUR PERCENT) PER ANNUM - paid quarterly in arrears COST OF BORROWING : 4% (FOUR PERCENT) TO BE WITHDRAWN FROM THE LOAN PROCEEDS. CLIENT'S LAWYERS : , P.C. LAWYER's ADDRESS : Houston, Texas 77027LAWYER's NAME : LAWYER's PHONE No. : (1- Security details will be arranged and confirmed between the two lawyers prior to the loan agreement / documentbeing forwarded to the clients lawyers office. This discussion between the two lawyers will be necessitated to ensurethe requirements of the New Zealand Mortgage Lendor's regulations are complied with. These regulations ensure that the borrower has the security / securities required to effect such borrowings.It is anticipated that the Lawyer will be in position to commence work on the legals and also the financial reporting information to our bankers on Monday (New Zealand time) and once that part is done will be able to contact the lawyerin Texas immediately. We anticipate that settlement could take place as early as your Tuesday if "EVERYTHING" fromboth sides goes thru without a hitch.Best regards, Paul DouglasDirector.
Good afternoon Gil, The following information has been supplied to our lawyers for them to prepare the loan agreement / documentsfor signing by , concerning their project in "The Heights", Houston TexasNAME OF CLIENT :
Houston Texas 77004 U.S.A.
ADDRESS OF PROJECT : Houston, TexasAMOUNT OF LOAN : USD $2,200,000.00 (Two Million Two Hundred Thousand US dollars) INTEREST ON LOAN : 4% (FOUR PERCENT) PER ANNUM - paid quarterly in arrears COST OF BORROWING : 4% (FOUR PERCENT) TO BE WITHDRAWN FROM THE LOAN PROCEEDS. CLIENT'S LAWYERS : , P.C. LAWYER's ADDRESS : Houston, Texas 77027LAWYER's NAME : LAWYER's PHONE No. : (1- Security details will be arranged and confirmed between the two lawyers prior to the loan agreement / documentbeing forwarded to the clients lawyers office. This discussion between the two lawyers will be necessitated to ensurethe requirements of the New Zealand Mortgage Lendor's regulations are complied with. These regulations ensure that the borrower has the security / securities required to effect such borrowings.It is anticipated that the Lawyer will be in position to commence work on the legals and also the financial reporting information to our bankers on Monday (New Zealand time) and once that part is done will be able to contact the lawyerin Texas immediately. We anticipate that settlement could take place as early as your Tuesday if "EVERYTHING" fromboth sides goes thru without a hitch.Best regards, Paul DouglasDirector.
Loan Change for Client #1
Due to the delays and the costs that Client #1 was incurring, RC Marketing agreed to increase the loan amount from $1M to $1.5M. The letter assured us that there would be no delays and that funding would occur within 3-4 days of the loan approval...and that loan approval would take a "few days". This letter was received on November 14, 2007 and as of today, July 31, 2008, this deal has still not been funded.
Client #4
On November 11, 2007, a contract was issued to fund $60M in debt service for biodiesel project in Texas. On November 13, 2007, a letter was issued stating that if the deal didn't fund on or before November 30, 2007 for any reason "attributable to RC Marketing", the fees paid would be returned at that time.
The $6000 paid in due diligence fees has not been returned and as of today, July 31, 2008, this project has not been funded.
The $6000 paid in due diligence fees has not been returned and as of today, July 31, 2008, this project has not been funded.
Due Diligence...
Here is some information we were able to find on the internet...
1. Press Release announcing deal
http://www.scoop.co.nz/stories/BU0608/S00520.htm
2. Do a search in this Notice of Annual Meeting for "R.C. Marketing"
http://www.wdtl.com/pdf/2.WT4844Noticeof2006AGM_final_.pdf
3. Press Release announcing collapse of deal
http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10412799
This let's us know they really do discuss investing with others. We don't know if the investor that pulled out is R.C. or somebody else.
But the there are always countless legitimate reasons for a pull-out by an investor. In the end, I think it's an overall good thing to find. If you look at the dates, the time between the two press releases is very quick. From 10-6 to 11-28. Anything could have happened to kill the deal.
1. Press Release announcing deal
http://www.scoop.co.nz/stories/BU0608/S00520.htm
2. Do a search in this Notice of Annual Meeting for "R.C. Marketing"
http://www.wdtl.com/pdf/2.WT4844Noticeof2006AGM_final_.pdf
3. Press Release announcing collapse of deal
http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10412799
This let's us know they really do discuss investing with others. We don't know if the investor that pulled out is R.C. or somebody else.
But the there are always countless legitimate reasons for a pull-out by an investor. In the end, I think it's an overall good thing to find. If you look at the dates, the time between the two press releases is very quick. From 10-6 to 11-28. Anything could have happened to kill the deal.
Proof of Funds...
When we asked for Proof of Funds, we were sent this:
Good morning Gil, Here is some other information and confirmation through the banks that RC Marketing Limitedhas capability to handle these deals.. it shows we have bank guarantees sitting here in Aucklandin the amount of USD $450,000, 000 I am waiting for the screen print of the other monies to arrive.. one will show RC Marketing has 4B sitting in HSBC in London and the other account has 5B in it on "time deposit.".As soon as these final two pieces of paper arrive I will forward them to you immediately.. in the meantimeI wondered if this was sufficient information to get started with.. i will leave that decision up to you.Best regards, Paul.
Good morning Gil, Here is some other information and confirmation through the banks that RC Marketing Limitedhas capability to handle these deals.. it shows we have bank guarantees sitting here in Aucklandin the amount of USD $450,000, 000 I am waiting for the screen print of the other monies to arrive.. one will show RC Marketing has 4B sitting in HSBC in London and the other account has 5B in it on "time deposit.".As soon as these final two pieces of paper arrive I will forward them to you immediately.. in the meantimeI wondered if this was sufficient information to get started with.. i will leave that decision up to you.Best regards, Paul.
More emails...
We were sent emails with schedules in it and the names of people that were supposed to be doing site inspections...
This email was received on November 8, 2007:
Hi Gil, I have had look at this schedule and am happy to confirm it "tentatively" at this point..there is one matter outstanding that I have to address here on my Monday / Tuesday and at thattime will be able to confirm 100% as regards to the timing.. however I will be working to achieve what you have proposed at this time.Second point.. the Chinese Officials will NOT be with us in Las Vegas.. but my people will be thereto go over the entire proposal with Segura.. we have everything arranged in China from the very top of the Government downwards. Following the meeting in Las Vegas and the signing off of matters with Segura our people will be travelling to China to meet with the Government and finalise all mattersover there and then sign the contracts with the government there to implement matters.We have already set up the infrastructure in China.. the company, the people to run and manageour project, the people to implement the matters from a Government level and the people we willneed as "support staff" to deal with any issues on installing / training / operating / and support. This includes arranging office facilities and the like... it is all set to go.All these things were very important to the government to show we were not just "fly by nighters"we also had to put up a USD $10 million bond to the government to show we had the ability to evenpropose such a joint Venture with the Government and Local Authorities.The names of the two people (my business analyst and project manager) will be there in Las Vegaswith me and then they will go on down to Texas to review the three projects there - before going backto New Zealand and then before the end of the month meeting me in China, along with the Chinesedelegation from the Government. Their names are "Claude Lewenz" - Business Analyst (he is also our company C.E.O.)and the other is "Bede Roughton" - Company Director and also the Project Manager.Once they have done the appraisals and we have their joint reports - the four projects will be able tobe implemented VERY quickly. I will also bring another person into the discussions with regard to Vietnamand he is John Dietrich from Louisiana. John is already involved with me in the project in Korea and we willbe able to use his expertise to get this moving. No one knows as much about casinos / gaming licences / consents and the like in this field.. than John does.Best regards, Paul.
Dear Gil, The following is a tentative schedule of activity for RCM's meetings with officials from Securiport, China, Viet Nam and Telca Communications: Day/Date: Tues,13 Nov: Ed/Lang receive names of Chinese officials attending mtgs with Securiport. Wed/Thurs, 14/15 Nov: Paul and Chinese officials arrive in Las Vegas. Thurs, 15 Nov: The Jones Goup arrives in Las Vegas. Fri/Sat, 16/17 Nov. Contract discussions and signing between Seuriport and Chinese officials. Sun, 18 Nov: Telca Communications contract signing. Mon/Tues, 19/20 Nov: Vietnam Group discussions concerning Theme Park and oil projects in Viet Nam. Wed, 21 Nov: Freire family and Jones Group depart for Virginia for Thanksgiving. Regards, Ed
This email was received on November 8, 2007:
Hi Gil, I have had look at this schedule and am happy to confirm it "tentatively" at this point..there is one matter outstanding that I have to address here on my Monday / Tuesday and at thattime will be able to confirm 100% as regards to the timing.. however I will be working to achieve what you have proposed at this time.Second point.. the Chinese Officials will NOT be with us in Las Vegas.. but my people will be thereto go over the entire proposal with Segura.. we have everything arranged in China from the very top of the Government downwards. Following the meeting in Las Vegas and the signing off of matters with Segura our people will be travelling to China to meet with the Government and finalise all mattersover there and then sign the contracts with the government there to implement matters.We have already set up the infrastructure in China.. the company, the people to run and manageour project, the people to implement the matters from a Government level and the people we willneed as "support staff" to deal with any issues on installing / training / operating / and support. This includes arranging office facilities and the like... it is all set to go.All these things were very important to the government to show we were not just "fly by nighters"we also had to put up a USD $10 million bond to the government to show we had the ability to evenpropose such a joint Venture with the Government and Local Authorities.The names of the two people (my business analyst and project manager) will be there in Las Vegaswith me and then they will go on down to Texas to review the three projects there - before going backto New Zealand and then before the end of the month meeting me in China, along with the Chinesedelegation from the Government. Their names are "Claude Lewenz" - Business Analyst (he is also our company C.E.O.)and the other is "Bede Roughton" - Company Director and also the Project Manager.Once they have done the appraisals and we have their joint reports - the four projects will be able tobe implemented VERY quickly. I will also bring another person into the discussions with regard to Vietnamand he is John Dietrich from Louisiana. John is already involved with me in the project in Korea and we willbe able to use his expertise to get this moving. No one knows as much about casinos / gaming licences / consents and the like in this field.. than John does.Best regards, Paul.
Dear Gil, The following is a tentative schedule of activity for RCM's meetings with officials from Securiport, China, Viet Nam and Telca Communications: Day/Date: Tues,13 Nov: Ed/Lang receive names of Chinese officials attending mtgs with Securiport. Wed/Thurs, 14/15 Nov: Paul and Chinese officials arrive in Las Vegas. Thurs, 15 Nov: The Jones Goup arrives in Las Vegas. Fri/Sat, 16/17 Nov. Contract discussions and signing between Seuriport and Chinese officials. Sun, 18 Nov: Telca Communications contract signing. Mon/Tues, 19/20 Nov: Vietnam Group discussions concerning Theme Park and oil projects in Viet Nam. Wed, 21 Nov: Freire family and Jones Group depart for Virginia for Thanksgiving. Regards, Ed
Client #3
On November 8, 2007, RC Marketing Ltd. issued a contract to fund $24M on a commercial project in San Antonio, TX. He was also given a letter stating that within 7-10 days, they would have a consultant on site to review the project. The on site visit never occured and to date, this project has not been funded.
What RC Marketing Does...
They sent us information about projects they are involved in:
Framework of
Seattle Investments (China) LTD
1. Mission and Vision
For many years now, every generation has felt that life was getting better, that we were improving quality of life for our children. In the last decade or so, we hear a different view - that if we don't do something about it, we may be viewed as the golden era, fuelled by a mortgage on the future, a debt our children must pay. We deem this unacceptable.
- Seattle Investments Limited
Seattle Investments (China) Limited (Ltd) is the investment arm of Seattle Investments Ltd in China. As such, its mission is to wisely invest funds whose profits can then go to support good works. It applies broader principles so that its profit making endeavours seek - in addition to being economically profitable - to assure that the social, cultural and environmental effects are positive, or at the very minimum, that they not be adverse.
Seattle Investments Ltd believes that China is a good place for us to realize the mission and it will be good for all of us: Seattle Investments, China as well as other parts of the world.
2. Business Structure
Seattle Investments (China) Ltd will be registered in Shanghai – the economic and financial centre in China – as the holding company for all the other investments in China. While the head office of Seattle Investments (China) Ltd is registered in Shanghai, other offices in some other important cities will be set up to look after the potential business opportunities in targeted regions.
At the beginning, sub offices will be set up in the following cities: Beijing, Nanjing, Hangzhou, Guangzhou - these cities are the regional economic centres located in the wealthiest provinces. The total GDP of these provinces is about 50% of the whole of China’s GDP. Further more, Beijing is the capital of China and many big government projects are decided there.
While a potential business opportunity is matured to an outstanding project through the hard work of the Project Development Department, Seattle Investments (China) Ltd will raise money from its mother company Seattle Investments Ltd. and register a subsidiary company to actuate the project. Projects with common elements may be incorporated into a single company to reduce unnecessary duplication of infrastructure, but for very substantial projects there are often advantages in registering a specific subsidiary company.
3. Company Structure
In Seattle Investments (China) Ltd there will be many different functional departments with initially, four local offices. Each functional department and local office will be led by a Manager who reports directly to the General Manager. Every Manager will have a very detailed and clear Job Description, Person Specification and Accountabilities detailing their responsibilities, tasks, and expectations. Their achievements will be reviewed every 3-6 months through a rigorous appraisal process.
The General Manager is responsible for the day to day work of the company and will enjoy clear delegated authority to make these day to day decisions within the general policy directions determined by the Board of Directors and the strategic direction set by the Managing Director. The General Manager reports directly to the Managing Director.
4. Business Development
To make the Seattle brand famous and successful in China, relationships with the Government, banks and other large companies are very important. As a new comer, Seattle Investments (China) Ltd must create long-term relationships with all the important people and organizations.
To create such a relationship with the Government and the bank, we need to know what the Government thinks and wants at any given time. We need to know clearly its industry policies, and the government project lists. We need to be active in meetings held by the Government and if possible become the supporter and sponsor for these meetings.
To create a good relationship with big companies, the quickest way is to join the business association with which we have the most in common. Another very useful way is to become a friend and classmate of the leader of these companies. This can be achieved by joining the EMBA class. If we want to go deep into the Shanghai high grade business society, the best route is through the China Europe International Business School EMBA Class, and if we want to get to know businessmen in Beijing, then the most effective method is though joining the Beijing University EMBA class.
To create a high grade brand in China it is essential to create relationships with newspaper reporters and TV station personnel and management. The newspapers and TV stations are controlled and monopolized by the Government, and their number is limited. So the power of the media in China is far more influential than the media of other countries.
Creating these effective relationships will make it very easy for us to be successful in the China market. Further more, because it is developing so rapidly, China needs these funds urgently, so if Seattle Investments China Limited becomes well recognized, famous even, and enjoys effective relationships with all the important organizations and people, then we can expect outstanding and safe business opportunities and projects to come to us automatically.
Further more, because of our special New Zealand background, agriculture and environment technology projects in China will be recognized and easily accepted business opportunities. We should pay more attention to these fields.
5. Business Costs for Seattle China and its further projects
Costs for Seattle Investments (China) Limited
Head Office
Beijing Office
Nanjing Office
Hangzhou Office
Guangzhou Office
Office Purchasing
￥15,000,000
￥2,000,000
￥2,000,000
￥2,000,000
￥2,000,000
Office Fitment
￥3,000,000
￥400,000
￥400,000
￥400,000
￥400,000
Car purchasing
￥5,000,000
￥1,500,000
￥1,500,000
￥1,500,000
￥1,500,000
Company Registration Fee
￥1,000,000
￥0
￥0
￥0
￥0
Security System
￥2,000,000
￥500,000
￥500,000
￥500,000
￥500,000
Entertainment and Gifts p.a.
￥2,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Business trip cost p.a.
￥2,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Administration cost p.a.
￥1,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Office Cost p.a.
￥1,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Government fees p.a.
￥1,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Personnel Cost p.a.
￥22,000,000
￥1,000,000
￥1,000,000
￥1,000,000
￥1,000,000
Sub Total
￥55,000,000
￥5,900,000
￥5,900,000
￥5,900,000
￥5,900,000
Total Cost in RMB
￥78,600,000
Total Cost in US Dollars
US$10,621,622
1. The head office in Shanghai will be 500m2 and the other offices will be 100m2.
2. The head office will buy3 cars and the other office will have only 1 car.
3. The head office will have 11 manager level staff and 40 normal level staff plus 5 part-time advisors.
4. The other offices each will have 1 manager level staff and 5 normal level staff.
5. The manager level staff average compensation will be RMB500,000 per year, and the normal level staff average compensation will be RMB100,000 per year. The part-time working advisor average compensation will be RMB200,000 per year. The compensation for MD and GM are included. The usual ratio is 5:1 for Responsibility For: Responsibility To in compensation.
Costs and return for Seattle Hi-Tech Ltd
The Securiport project will be the main business of Seattle Hi-Tech Ltd. There are lots of new airports being built in China, but the biggest four airports are Beijing Airport (Beijing), Pudong Airport (Shanghai), Hongqiao Airport (Shanghai) and Baiyun Airport (Guangzhou). As our business model, if we place Securiport systems for these airports for free, and get US$10 in return from each passenger, then our income will be as below:
Air Port
Beijing
Pudong
Hongqiao
Baiyun
Nanjing
Hangzhou
Number of Passengers per year
48,500,000
26,660,000
19,350,000
20,320,000
5,500,000
6,000,000
System Cost
US$100,000,000
US$50,000,000
US$50,000,000
US$50,000,000
US$30,000,000
US$30,000,000
income per year
US$485,000,000
US$266,600,000
US$193,500,000
US$203,200,000
US$55,000,000
US$60,000,000
maintain service cost per year (5% of the income)
US$24,250,000
US$13,330,000
US$9,675,000
US$10,160,000
US$2,750,000
US$3,000,000
profit for the first year
US$360,750,000
US$203,270,000
US$133,825,000
US$143,040,000
US$22,250,000
US$27,000,000
The system cost and the maintain service costs are estimates here, but because of the huge number of the passengers, the profit will be quite good even in the first year. To set up a company and start the Securiport business in China, it will cost no more than US$10 million.
Costs and return for Seattle Oil Ltd
China imported 949 million barrels of crude oil in 2006.
The crude oil business will not cost too much investment, perhaps only US$10 million. The profit will be US$50 million if we can get 5% of the 949 million barrels in one year and earn only US$1 per barrel. Now the China government’s policies about licenses to import crude oil have been changed. More province level companies have now got the right to import crude oil into China, so it is a good chance for us to start our business in China now.
Costs and return for Seattle Manufacture Ltd
To set up a factory in China to manufacture the seats, the investment may need to be about US$5 million. The profit rate for the seats in China may be about 3% to 12%, depends on the quality and quantity.
Costs and return for Seattle Education Ltd
The Investment for a school similar to the East Century School in Shanghai is about RMB60 million (US$8.1 million). The education industry’s profit rate is about 10%-35%, depending upon the type of education.
Costs and return for Seattle Food Ltd
Usually for a food company that imports wine or milk powder products into China, requires a registration fund of RMB10 million to RMB100 million (US$1.35 million to US$13.5 million), and usually the profit rate is about 15%.
Costs and return for Seattle Real Estate Ltd
The Government’s requirement for foreign real estate companies is usually at least US$10 million, and the average profit rate for the real estate company is about 27% in China. Some companies claim that the profit rate is only a little more than 10%, but researchers indicate that it is often up to 45%.
Costs and return for Seattle Bank
The Government’s requirement for registration capital of a foreign invested bank is at least RMB300, million (US$41 million) for the first class (which can only do some kinds of financial services) and RMB1, billion (US$135 million) for the second class (which can do all kinds of financial services). In China the profit rate of the foreign bank is 8%. The Bangladeshi economist Muhammad Yunus’s Grameen (who lent loans to millions of poor people and got the Nobel Peace Prize in year 2006) Bank’s profit rate is 10% per year.
The OLPC project
The OLPC project (http://laptop.org/) is aimed to supply laptops worth only US$100 to poor children for education. We may get involved in the project in some way to make us use the least money, but get the most for the poor children as well as our good brand in China. If we spend US$10 million on this project, we may help up to 100,000 poor children to get better education. This money can be spent during up to ten years, and each year we can give 10,000 laptops to poor children. With this activity, our Seattle brand will be famous and recognized by both the China government and Chinese normal people, and the cost is only US$1 million per year.
6. Points To Notice
a) The China companies law has some very strict regulations on an investment company (Usually an Investment company needs at least USD30 million registration capital), so if we do not put up the USD30 million, then we may need to use some other name instead, for example Seattle China Ltd. But the final result is up to the Shanghai Pudong district industrial and commerce administration.
b) It will take about 2-3 months to complete the whole registration process, so if we want to start our business for next year, we have to prepare the documents and start to register it right now.
c) Before the company registration application is lodged, the office of the company must be rented or purchased.
Framework of
Seattle Investments (China) LTD
1. Mission and Vision
For many years now, every generation has felt that life was getting better, that we were improving quality of life for our children. In the last decade or so, we hear a different view - that if we don't do something about it, we may be viewed as the golden era, fuelled by a mortgage on the future, a debt our children must pay. We deem this unacceptable.
- Seattle Investments Limited
Seattle Investments (China) Limited (Ltd) is the investment arm of Seattle Investments Ltd in China. As such, its mission is to wisely invest funds whose profits can then go to support good works. It applies broader principles so that its profit making endeavours seek - in addition to being economically profitable - to assure that the social, cultural and environmental effects are positive, or at the very minimum, that they not be adverse.
Seattle Investments Ltd believes that China is a good place for us to realize the mission and it will be good for all of us: Seattle Investments, China as well as other parts of the world.
2. Business Structure
Seattle Investments (China) Ltd will be registered in Shanghai – the economic and financial centre in China – as the holding company for all the other investments in China. While the head office of Seattle Investments (China) Ltd is registered in Shanghai, other offices in some other important cities will be set up to look after the potential business opportunities in targeted regions.
At the beginning, sub offices will be set up in the following cities: Beijing, Nanjing, Hangzhou, Guangzhou - these cities are the regional economic centres located in the wealthiest provinces. The total GDP of these provinces is about 50% of the whole of China’s GDP. Further more, Beijing is the capital of China and many big government projects are decided there.
While a potential business opportunity is matured to an outstanding project through the hard work of the Project Development Department, Seattle Investments (China) Ltd will raise money from its mother company Seattle Investments Ltd. and register a subsidiary company to actuate the project. Projects with common elements may be incorporated into a single company to reduce unnecessary duplication of infrastructure, but for very substantial projects there are often advantages in registering a specific subsidiary company.
3. Company Structure
In Seattle Investments (China) Ltd there will be many different functional departments with initially, four local offices. Each functional department and local office will be led by a Manager who reports directly to the General Manager. Every Manager will have a very detailed and clear Job Description, Person Specification and Accountabilities detailing their responsibilities, tasks, and expectations. Their achievements will be reviewed every 3-6 months through a rigorous appraisal process.
The General Manager is responsible for the day to day work of the company and will enjoy clear delegated authority to make these day to day decisions within the general policy directions determined by the Board of Directors and the strategic direction set by the Managing Director. The General Manager reports directly to the Managing Director.
4. Business Development
To make the Seattle brand famous and successful in China, relationships with the Government, banks and other large companies are very important. As a new comer, Seattle Investments (China) Ltd must create long-term relationships with all the important people and organizations.
To create such a relationship with the Government and the bank, we need to know what the Government thinks and wants at any given time. We need to know clearly its industry policies, and the government project lists. We need to be active in meetings held by the Government and if possible become the supporter and sponsor for these meetings.
To create a good relationship with big companies, the quickest way is to join the business association with which we have the most in common. Another very useful way is to become a friend and classmate of the leader of these companies. This can be achieved by joining the EMBA class. If we want to go deep into the Shanghai high grade business society, the best route is through the China Europe International Business School EMBA Class, and if we want to get to know businessmen in Beijing, then the most effective method is though joining the Beijing University EMBA class.
To create a high grade brand in China it is essential to create relationships with newspaper reporters and TV station personnel and management. The newspapers and TV stations are controlled and monopolized by the Government, and their number is limited. So the power of the media in China is far more influential than the media of other countries.
Creating these effective relationships will make it very easy for us to be successful in the China market. Further more, because it is developing so rapidly, China needs these funds urgently, so if Seattle Investments China Limited becomes well recognized, famous even, and enjoys effective relationships with all the important organizations and people, then we can expect outstanding and safe business opportunities and projects to come to us automatically.
Further more, because of our special New Zealand background, agriculture and environment technology projects in China will be recognized and easily accepted business opportunities. We should pay more attention to these fields.
5. Business Costs for Seattle China and its further projects
Costs for Seattle Investments (China) Limited
Head Office
Beijing Office
Nanjing Office
Hangzhou Office
Guangzhou Office
Office Purchasing
￥15,000,000
￥2,000,000
￥2,000,000
￥2,000,000
￥2,000,000
Office Fitment
￥3,000,000
￥400,000
￥400,000
￥400,000
￥400,000
Car purchasing
￥5,000,000
￥1,500,000
￥1,500,000
￥1,500,000
￥1,500,000
Company Registration Fee
￥1,000,000
￥0
￥0
￥0
￥0
Security System
￥2,000,000
￥500,000
￥500,000
￥500,000
￥500,000
Entertainment and Gifts p.a.
￥2,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Business trip cost p.a.
￥2,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Administration cost p.a.
￥1,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Office Cost p.a.
￥1,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Government fees p.a.
￥1,000,000
￥100,000
￥100,000
￥100,000
￥100,000
Personnel Cost p.a.
￥22,000,000
￥1,000,000
￥1,000,000
￥1,000,000
￥1,000,000
Sub Total
￥55,000,000
￥5,900,000
￥5,900,000
￥5,900,000
￥5,900,000
Total Cost in RMB
￥78,600,000
Total Cost in US Dollars
US$10,621,622
1. The head office in Shanghai will be 500m2 and the other offices will be 100m2.
2. The head office will buy3 cars and the other office will have only 1 car.
3. The head office will have 11 manager level staff and 40 normal level staff plus 5 part-time advisors.
4. The other offices each will have 1 manager level staff and 5 normal level staff.
5. The manager level staff average compensation will be RMB500,000 per year, and the normal level staff average compensation will be RMB100,000 per year. The part-time working advisor average compensation will be RMB200,000 per year. The compensation for MD and GM are included. The usual ratio is 5:1 for Responsibility For: Responsibility To in compensation.
Costs and return for Seattle Hi-Tech Ltd
The Securiport project will be the main business of Seattle Hi-Tech Ltd. There are lots of new airports being built in China, but the biggest four airports are Beijing Airport (Beijing), Pudong Airport (Shanghai), Hongqiao Airport (Shanghai) and Baiyun Airport (Guangzhou). As our business model, if we place Securiport systems for these airports for free, and get US$10 in return from each passenger, then our income will be as below:
Air Port
Beijing
Pudong
Hongqiao
Baiyun
Nanjing
Hangzhou
Number of Passengers per year
48,500,000
26,660,000
19,350,000
20,320,000
5,500,000
6,000,000
System Cost
US$100,000,000
US$50,000,000
US$50,000,000
US$50,000,000
US$30,000,000
US$30,000,000
income per year
US$485,000,000
US$266,600,000
US$193,500,000
US$203,200,000
US$55,000,000
US$60,000,000
maintain service cost per year (5% of the income)
US$24,250,000
US$13,330,000
US$9,675,000
US$10,160,000
US$2,750,000
US$3,000,000
profit for the first year
US$360,750,000
US$203,270,000
US$133,825,000
US$143,040,000
US$22,250,000
US$27,000,000
The system cost and the maintain service costs are estimates here, but because of the huge number of the passengers, the profit will be quite good even in the first year. To set up a company and start the Securiport business in China, it will cost no more than US$10 million.
Costs and return for Seattle Oil Ltd
China imported 949 million barrels of crude oil in 2006.
The crude oil business will not cost too much investment, perhaps only US$10 million. The profit will be US$50 million if we can get 5% of the 949 million barrels in one year and earn only US$1 per barrel. Now the China government’s policies about licenses to import crude oil have been changed. More province level companies have now got the right to import crude oil into China, so it is a good chance for us to start our business in China now.
Costs and return for Seattle Manufacture Ltd
To set up a factory in China to manufacture the seats, the investment may need to be about US$5 million. The profit rate for the seats in China may be about 3% to 12%, depends on the quality and quantity.
Costs and return for Seattle Education Ltd
The Investment for a school similar to the East Century School in Shanghai is about RMB60 million (US$8.1 million). The education industry’s profit rate is about 10%-35%, depending upon the type of education.
Costs and return for Seattle Food Ltd
Usually for a food company that imports wine or milk powder products into China, requires a registration fund of RMB10 million to RMB100 million (US$1.35 million to US$13.5 million), and usually the profit rate is about 15%.
Costs and return for Seattle Real Estate Ltd
The Government’s requirement for foreign real estate companies is usually at least US$10 million, and the average profit rate for the real estate company is about 27% in China. Some companies claim that the profit rate is only a little more than 10%, but researchers indicate that it is often up to 45%.
Costs and return for Seattle Bank
The Government’s requirement for registration capital of a foreign invested bank is at least RMB300, million (US$41 million) for the first class (which can only do some kinds of financial services) and RMB1, billion (US$135 million) for the second class (which can do all kinds of financial services). In China the profit rate of the foreign bank is 8%. The Bangladeshi economist Muhammad Yunus’s Grameen (who lent loans to millions of poor people and got the Nobel Peace Prize in year 2006) Bank’s profit rate is 10% per year.
The OLPC project
The OLPC project (http://laptop.org/) is aimed to supply laptops worth only US$100 to poor children for education. We may get involved in the project in some way to make us use the least money, but get the most for the poor children as well as our good brand in China. If we spend US$10 million on this project, we may help up to 100,000 poor children to get better education. This money can be spent during up to ten years, and each year we can give 10,000 laptops to poor children. With this activity, our Seattle brand will be famous and recognized by both the China government and Chinese normal people, and the cost is only US$1 million per year.
6. Points To Notice
a) The China companies law has some very strict regulations on an investment company (Usually an Investment company needs at least USD30 million registration capital), so if we do not put up the USD30 million, then we may need to use some other name instead, for example Seattle China Ltd. But the final result is up to the Shanghai Pudong district industrial and commerce administration.
b) It will take about 2-3 months to complete the whole registration process, so if we want to start our business for next year, we have to prepare the documents and start to register it right now.
c) Before the company registration application is lodged, the office of the company must be rented or purchased.
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