THE GO ECO GROUP
(formerly, Liberated Energy, Inc)
THE GO ECO GROUP (OTC: LIBE) reported ZERO REVENUE in FY2016 and 1Q/17, $88K in cash and $927K of convertible notes at the end of 1Q/17.
On Feb 17, 2017, THE GO ECO GROUP (OTC: LIBE) filed the following Form 8-K/A
In previous Form 8-Ks and amendments thereto filed with the SEC on September 21, 2016, October 17, 2016, and November 17, 2016, we announced the following:
On September 14, 2016, we entered into a Stock Exchange Agreement (the "Agreement") with Ron Knori ("Knori") the owner of EcoCab Portland, LLC, an Oregon Limited Liability Company ("EcoCab"); EcoCab; and, Brian Conway ("Conway"), wherein we agreed to acquire from Knori 100% of the ownership interest of EcoCab in consideration of issuing Knori 25,553,000 restricted shares of our common stock. Further, as set forth in the Agreement and as further consideration for the acquisition of EcoCab, Conway, our president, agreed to transfer to Knori, 10,000,000 shares of our Series A Preferred Stock which Conway owns and which constitute all of the issued and outstanding shares of our Series A Preferred Stock. Thereafter, EcoCab will be our wholly owned subsidiary corporation. Knori and others selected by Knori will replace Conway and others as directors and officers. Conway will continue to own 11% of our total outstanding shares and his interest will be non-dilutive under certain circumstances. The Agreement is subject to the condition that all of our liabilities will be paid and we shall have executed an agreement with third parties for the ingestion of $200,000. Closing must take place on or before October 31, 2016.
On October 11, 2016, we executed an Amended and Restated Stock Exchange Agreement (the "Amended Agreement") which revised the Agreement by reducing the number of shares to be received by Knori from 25,533,000 to the following: (1) at the first closing, we will issue Knori a number of shares equal to 20% of our total outstanding shares of common stock; (2) if certain conditions are met, at a second closing, we will issue Knori shares which will vest Knori with 30% of our total outstanding shares of common stock; and, (3) if certain conditions are met, we will, at a third closing issue Knori additional shares of common stock to be agreed upon by the parties. If we cannot agree upon the number of shares to be issued, the matter will be submitted to binding arbitration. Also, subject to the satisfaction of certain terms and conditions, we will issue Knori a number of shares of preferred stock. The Amended Agreement is subject to the ingestion of $400,000.
Also, on October 11, 2016, we executed Addendum #1 to the Amended Agreement ("Addendum") wherein Knori agreed to assume liability for all liabilities not identified on Exhibit A and B to the Addendum.
On November 1, 2016, Ron Knori assigned, transferred and conveyed to us all of the membership interests of EcoCab Portland, LLC, an Oregon Limited Liability Company ("EcoCab"). EcoCab is now a wholly owned subsidiary of Liberated Energy, Inc. Concurrently therewith we issued Mr. Knori was issued 360,000 restricted shares of our common stock as partial performance of the terms and conditions of the Amended Agreement and Addendum aforesaid.
On September 7, 2016, we issued a promissory note to Carebourn Capital, L.P. in consideration of a loan to us in the amount of $197,363.70 for the payment of certain outstanding liabilities. The foregoing promissory note contains provisions that allow Carebourn to convert the debt into shares or our common stock.
On September 16, 2016, we issued a promissory note to Carebourn Capital, L.P. in consideration of a loan to us in the amount of $25,000.00 for the payment of certain outstanding liabilities. The foregoing promissory note contains provisions that allow Carebourn to convert the debt into shares or our common stock.
The transactions as described in the foregoing Form 8-Ks and amendments thereto have not been completed as of the date of this report for the reason that Knori has failed to perform certain acts which he contracted to do, has failed to complete the terms of the agreements, and certain statements made by Knori in the agreements aforesaid have been found to be materially false.
We are endeavoring to resolve these issues with Knori, however there is no assurance that the matters will be resolved and as a result thereof we may terminate the foregoing agreements with Knori and sue him for actual and punitive damages as provided for by law.
ITEM 8.01 OTHER EVENTS.
It has come to our attention that Ronald Knori ("Knori") the person described in Item 1 above continues to represent to the world that he is an agent for Go Eco Group, formerly Liberated Energy, Inc. and Eco Cab Portland, LLC and has authority to speak for and bind the aforesaid entities. This is to serve as notice to the world, that Ron Knori is not an agent for Go Eco Group, formerly Liberated Energy, Inc. or Eco Cab Portland, LLC. and he does not have any authority to contract for, speak for or bind Go Eco Group, formerly Liberated Energy, Inc. or Eco Cab Portland, LLC. Anyone who relies on Knori's statements relative to Go Eco Group, formerly Liberated Energy, Inc. or Eco Cab Portland, LLC. does so at his own risk and Go Eco Group, formerly Liberated Energy, Inc. or Eco Cab Portland, LLC will not be bound by Knori's statements.
Ecocab Portland posted the following on its Facebook page on February 28, 2017
•EcoCab is an employee-only green energy transportation company using luxury Teslas as taxis in Portland Oregon.
•EcoCab is also a leading medical transportation provider in the Portland community providing a new level of member experience for
thousands of clients each month
•It is a modern taxi company for a new era of customer expectation and on-demand transportation. At this time, it’s strategically positioned between taxi and town car services. Relevant differences:
•Our people & culture: our skill and passion to deliver exceptional experiences to all internal and external partners.
•Our fleet of Tesla vehicles. Electric cars (zero emissions) and luxury service has created a fast loyalty and buzz with the brand.
•A high-performance culture through meticulous hiring and regular coaching, focused on high-quality client experience through all phases of client acquisition and delivery.
•Our employee model is unique in the industry and provides an easier path to hold quality standards at all levels. (versus the driver subcontractor model that is commonplace in the industry)
•A reliable ‘brand experience’
•Mobile App Technology to satisfy customer on-demand expectations.
•Manage data: Geographic, Demographic, Brand experience Unshakeable facts:
•EcoCab has been in business since July 22, 2015
•EcoCab has grown to 46 vehicles in their fleet with a facility two miles out of downtown Portland.
•EcoCab has increased revenues every month since it’s start date
•EcoCab has been asked to be a top partner with a national medical provider. Due to our member experience expertise we have been asked to develop a model for USA expansion. To be able to start operation in cities across the USA.
•Revenue per hour has increased from $12.25/hr in September of 2015 to over $28.50 in October 2016.
•EcoCab has grown to over 90 employees on their team in their first 12 months of operations.
•EcoCab has a leadership team with a proven track record in successful and sustainable start-ups
•Leadership Team – Proven track records:
•Brian P Conway – CEO of Liberated Energy
Chief Executive Officer and Chief Financial Officer of Liberated Energy, Inc. Over 20 years of proven success in marketing and business development for both private and publicly traded companies. Starting off in database management and sales for Venture Direct on Madison Avenue, he crossed over to Wall Street as a co-founder of Waypoint Capital Partners. During this time, he has overseen national sales, marketing, business and product development, national account customers, and new business relations with international and US companies
•Ron Knori – CEO of EcoCab
•Founder and President of Twin City Painting, Inc (2003), EcoCab, LLC (2012), and EcoCab Portland, LLC (2015). Start up track record in international franchise organization from 1994-2002.
•Brian Honeyman – President
•President and/or executive leadership roles in 3 international franchise organizations. 25 years of success leading, managing, and developing managers, field staff, sales teams, and customer service/admin teams. Mentoring and developing the next generation of management leadership, while establishing a firm path to ongoing corporate prosperity. Experienced in leading thousands of employees working across the country.
•Edward Leaman – Brand Expert, Professor at Stanford, has worked with brands: Nike, Calvin Klein, Tommy Hilfiger, First Service etc.…
•Wendi Kellington: Kellington Law Group – Attorney and legal expert focusing on regulatory matters.
•EcoCab & Wendi have already had many legal victories that have improved the industry within the Portland community
•Leonard Bergstein – President of Northwest Strategies. PR and paid lobbyist in Portland.
•Carter Mackley – Mackley & Mackley, PLLC, startup business attorney
Medical Transportation: Leadership & Partnership
§In February 2016 we began a partnership with a national medical transportation organization to provide quality transportation for their members in Portland.
§This organization provides over 150,000 rides a month to Portland residents who need reliable transportation for various medical appointments they each have.
§In meetings with their management team we were asked if we could grow our fleet to 100 vehicles to provide needed quality rides and experiences for their members in
§We have also been asked to prepare an expansion model to expand into cities across the USA. Using the partners national dispatch team we would provide drivers and vehicles at a flat rate per hour.
§These partners require the capacity that a taxi company has but are VERY frustrated with all current cab providers as they are not providing a quality and caring experience for their members due to a subcontracting model and that the members do not provide tips as part of the compensation package; and a simply lack of leadership and quality standards.
§There are hundreds of other partnership opportunities within the Medical Transportation industry