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[Pennimon]

Frosen -How do I know about such a partnership? I know you said you first based your rvgd investment on dd, but then switched to "vibes". Guess its apparent "vibes" dont work for ya either so lets go back to simple dd. Read this over and the answer should slap you in the face. Further explanation comes after the pr excerpt...

Pr of 3/14/08

Revenge Designs, Inc. Enters Second Phase of Its $80M Production

DECATUR, IN , a specialty car designer and production assembler, provides a corporate update to its shareholders on its previously announced $80M production.

The company in its first phase agreements anticipates constructing up to 1,000 high performance vehicles in the first four years. Revenge Designs, Inc. will assemble the vehicles and sell them under a joint venture agreement. The company is currently pre-arranging sales leads with over 100 General Motors dealerships across the United States. The base price will start at approximately $80,000 per vehicle and there will be an optional Spec R model in excess of 600 HP starting at $110,000.

The second phase requires the construction by Revenge Designs, Inc. of an additional 20,000 square feet of production space, designed specifically for the assembly of the new "All American Supercar." The company successfully raised the necessary working capital in its recent regulation D offering to begin construction of this new facility. The company will also increase its current workforce to over 25 employees in order to support the additional work load.

Notice the part where its says JOINT VENTURE??? OK, now lets look at what a joint venture is. Heres are definition excerpts from Cornell University Law School(google):

joint ventures: an overview

A joint venture is a legal organization that takes the form of a short term partnership in which the persons jointly undertake a transaction for mutual profit. Generally each person contributes assets and share risks. Like a partnership, joint ventures can involve any type of business transaction and the "persons" involved can be individuals, groups of individuals, companies, or corporations.

In the United States, joint ventures are governed by state Partnership, Contracts, and Commercial Transactions law. A joint venture is also treated like a partnership for Federal Income Tax purposes.


Additional - from June 10th 2008 pr:

"Once our promotional GTMs are completed and approved by Factory 5 Racing, both companies will then proceed together to achieve maximum sales."

Basically when two separate entities or individuals combine assets and talent with both working together to achieve a common goal - sharing the rewards while both remaining a separate entity, it could then be said they are working in partnership.

Lastly, I wanted to make sure that Factory Five not only KNEW about these pr's announcing their (limited) partnership or joint venture, but actually confirmed it. This they of course should not do,since they ARE in the business of selling kit cars, and currently have an inventory of them.

It would not make sense for them to PUBLICLY confirm this BEFORE signing off on the production prototypes - meaning they are ready to OFFICIALLY announce their participation (joint venture or partnership)and actively participate in pr's and marketing the PRODUCTION GTM. There are other valid reasons not to prematurely announce this limited and intial four year partnership in producing the production GTM.

What I did do is have Mr. Dave Borden ask Factory Five Racing as they would more likely answer his questions rather than providing "no comment at this time" to numerous idiotic phone calls. This is Mr. Bordens reply to a pm I sent him on the F5 forums:

"Thanks for the heads up... actually, I wasnt purposely avoiding your question. I was out of town when you asked the question without access to a computer. I asked about them, but there was no big news he could share other than they purchased kits and (F5)planned to do what revenge said they would. I didnt reply to anyone regarding the question via PM or otherwise. I get a huge number of questions and at times and honestly have not found a way to keep up with stuff.

Im looking forward to seeing what they come out with....

David "


Quote:
Originally Posted by Pennimon
Hi Dave,

Just thought I 'd pass this along to you by pm. Its a post I did for the rvgd message board on investors forum....

Posted by: Pennimon Date: Monday, August 04, 2008 2:14:42 PM
In reply to: None Post # of 90887

Last post for the day - re: F5 forums and Revenge GTM's:

The factory five forums have been notoriously quiet on the subject of a Revenge GTM production vehicle. Not a peep despite Dave Borden visiting F5 when he was supposed to ask about it.
Mr. Borden has even neglected to publicly answer a forum inquiry about his visit, though I suspect (jmho)he may have answered the post by pm.

This is a good thing. Were Revenge GTMs just so much BS, we would have been beat up real bad on the F5 forums. The fact we have not been beat up by builders says a whole lot in itself. I have no doubt at all that if Revenge was going to be just another builder and not to be partnered up with FActory Five, we would get beat up plenty. Factory Five has earned their respect and I believe to intentionally damage Revenge Designs is to damage the future of Factory Five. This they wont do.

I dont think I'll bring it up there again out of respect for both Factory Five and their current rec. builders. For the Revenge GTM to become a topic on its on there would be a big dis-service to our pioneer owner builders, and would surely put a crinkle in GTM kit sales - remember Factory Five is in the business of selling kit cars....we dont want to sour the deal or any sales of kits for Factory Five.

If Revenge and F5 DID NOT have an understanding in place, I have no doubt at all it would have been reported pronto, and the name Revenge Designs beaten into the ground there. The forums are really excellent dd in understanding the huge amount of work that goes into the GTM especially the current body panel assembly (drill and rivet)and the huge amount of time needed for fit and finish. Even now with over 200 kits sold, a person probly has more fingers and toes than there are finished quality GTM's on the road today.

The preliminary GTM marketing has already been done with the KIT cars, and its plain to see from reading articles the GTM is ALREADY a huge success - thanx to Factory Fives excellent marketing efforts along with the outstanding work by current builders of the GTM mentioned on the F5 site....

JMHO -P

So Frosen...hope that answers your question about the partnership or joint venture (used interchangably),and the frivolity of relying on "vibes".

I also would like you to acknowledge and understand Phase One and Phase Two of the agreements in relation to the 80M contract, AND the scheduling of the construction for the proposed building addition. Clearly it states that the proposed building construction takes place in Phase Two.

Since we have not completed Phase One, it might be a little premature considering F5 has not even signed off on the production prototypes yet. I dont know about you Frosen but putting the horse before the cart makes sense to me.

Regards,

Penn.


















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