WHAT BILL IS DOING WITH HIS MONEY (MUST READ, UNBIASED POST)
Okay so after reading the article over the weekend posted Globe and Mail. i decided to do more research. I had to find out where the 4.6 million is going. Its shocking that a news paper can post such an article without doing some research if the CEO is pocketing the money, or if he is really putting it back into the company. I'm a Realtor in Michigan so I have a little more knowledge than most in real estate transactions, and title work. This is a true unbiased post (so chubbs Checker please go easy on me)
The Good:
1) On 12/10/2014 GBS Holding, LLC has purchased 9.14 acres of Vacant Land in Las Vegas from a comapny called Speedway 18.44, LLC. The vacant land is by what looks like an industrial buildings. the purchase was for $1,395,000. The lot is Between Azure ave Beesley, NV (I CAN EMAIL YOU THE DEED)
The bad:
1) Bill has paid off his mortgage at his primary residence. He received a Mortgage Discharge on April 30th 2014 from his lender, Unity Bank. The original mortgage in the amount of $1,000,000 was taken out on 10.29.2007. I would assume he paid about 950k off on april 30th. However I don't know the amount because a mortgage discharge letter does not state how much he paid. The only way someone can get a discharge letter is when he sells his home or pays it off, in both scenarios the bank is paid off, and that's why they give you a discharge letter.
2) Bill on 7/22/2014 bought a the house on 7377 Summer Duck Way, North Las Vegas, NV, 89084 for $335,000 which appears to be a cash sale as i do not see a recorded mortgage note.
3) on 12/15/2014 Bill appears to have quite Claimed the Property on 7377 Summer Duck Way to a Company GBS Holdings, LLC which is managed by Rump Ventures, LLC (managed by Bill) and BIO ONE VENTURES, LLC (Managed By Randy Hayman)
Looks like Bill Paid himself, which he should have, but he also put in 1.4 million of that money into vacant land in Vegas. Less
