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Absolutely right TP.... here they can shield their homesteaded property, expansive work related personal property, some clothing etc etc etc.
Lots of states have funny rules about that. I was financing a chain of medical centers in Texas in the late 80's and one of the Dr.'s protected himself and his Dr. wife from a potential malpractice claim based on that states' allowance that actually abstracted their specific "personal horse, one only each" from judgment, so what they did is go to the Keeneland yearling auction and buy a million buck + horse each, which shielded over two million from judgment collection... apparently the rule went back to the old cowboy days, but these docs used it for some high level thoroughbreds and got extensive protection.
I would monitor the SEC page(s) and see what transpires first. Staying on top of the situation is very important.
There's no direct specified method of dispersal indicated in the order.
Based on my personal experience, the first dollars collected will go to the attorneys, the SEC fine and the related direct costs of prosecution.
The balance, if any, that may possibly be collected usually then goes into a fund and the injured / damaged parties file for the respective percentages / dollars they believe that they are owed or entitled to. Proving these numbers etc. can, of course, be extremely difficult. It's not uncommon for an attorney (or group of related or even unrelated attorneys) to advertise and directly solicit shareholders (not only current shareholders, either, this number would include former shareholders as well who feel that they were affected) for representation and go after some money on a contingency basis as a group, which is much easier, obviously, that having each shareholder retain counsel and pay them to go after an unknown sum that may well be significantly less than the attendant legal costs..
Needless to say, this can be a real mess and usually takes years to ever sort out.
For what it's worth, there's quite a vast difference between getting a judgment and actually collecting on that judgment.
If anyone here thinks that they're going to see any of the money soon if ever, they need to d a little research on what usually happens in situations like this, starting with personal and / or corporate bankruptcy on the part of the "losing" parties.
Perfectly articulated, Dog, spot on.....!
Dog................THANKS!!!!!
Dog.... shareholder suit??? May 5, 2010 suit???
Where might "inquiring minds" seek further information please?
I figured that a "wise old dog" could point a "doddering old codger" like me in the right direction!
Have a great weekend..... it's almost cocktail hour down here!
The first time Jack crashed, up just outside Talladega AL, he was pulled out of the plane by a local farmer who honest to god just happened to be a retired Marine rescue chopper officer that personally specialized in underwater pilot recovery.... what are the odds!
Maybe his "business relationship" with Peter is the only unlucky thing that's happened to him!
I wonder if the items and equipment that are no longer in the Decatur building that Peter was RENTING were property of RVGD and therefore STOLEN by someone.
If so, who could be such a COMMON THIEF?
My question would be: IS PETER COLLORAFI A THIEF AS WELL AS A LIAR?
All of us will have to make our own decision on that matter.
I will personally contribute hard cash to assist in the determination and prosecution of any THIEF that has STOLEN parts, equipment or any other material originally purchased and owned by Revenge Designs Inc., also known as Revenge Designs, a public company, symbol RVGD.
Dog, Tuna, Thinkpad, Hawk and anyone else interested in pursuing such a prosecution please contact me, let's set up an organization and I will be pleased to provide seed money for this exercise.
This is not a joke and I'm not just blowing smoke, I'm ready.
Your characterization of Peter's behavior is 100% factually bereft.
He lied about the $80m "contract".
He lied about buying the building, which was a declared "use of funds" emanating from the private placement if memory serves me.
He lied about the "new building" throughout and never even went through the building permit application process.
He lied about assembly updates regarding the GTM.
He lied about delivering financial and developmental transparency.
He lied about GTM-R dealership relationships.
He lied about the network of "magic motor" installation centers.
He lied about having a completed vehicle at the most recent auto show. In fact, to my knowledge, nobody has ever seen either the GTM-R or the "Verde" / "Blade" actually run.
Based on his abject lack of performance, we can logically assume that he also lied to the County that provided the $300,000 "loan".
He is, was and apparently continues to be a bold faced liar, period.
If it is beyond anyone's comprehension to grasp this fact, I feel nothing but pity for them.
.
It's amazing how contrite someone can be (in this case, Peter the bold-faced liar) AFTER they get caught. Thanks solely to Captain Jim, we learned the truth before Peter, that walking, talking BS'sing piece of human waste, could further advance his "one trick pony" theory of corporate financing.
Thank you, Captain, and may the depth of Hades swallow you, Peter!
Reap what ye shall sow!
At one time he SAID he had 12.
At one time or another, he has SAID many things, pretty much all of which have been proven to be BS and more BS.
No $80m contracts, no building purchase, no building addition, no financial transparency, no magic motor installations, no GTM-R sales, no magic motor Verde, really not much of anything, and clearly absolutely nothing that that generated one thin dime of shareholder value.
Peter is a bold faced liar.
That about sums it up
Excuse me while I vomit at the thought yet again!
I humbly apologize to the Easter Bunny for comparing his credibility in any way whatsoever to Peter Collorafi.
After all, I actually DID get eggs and stuff up until 1949 or so..... which is probably more than any of us got from Peter...
Believing in RVGD at this point is several stages below believing in the Easter bunny and the tooth fairy.
I believe that just like the pps, peter, RVGD and dougie are already pretty much gone.....
You're spot on.
As we gain insight into any subject, a person of reasonable intelligence digests and absorbs new information, evaluates that body of material and either modifies or maintains their original opinion.
It's called educated thought process and good common sense, nothing more, nothing less.
All of us believed in Peter at one time, that's why we invested.
His comprehensively documented abject implosion as a CEO coupled with his well evidenced ongoing disdain for the investors that made his failed dream possible have caused virtually all of his original supporters to understand that indeed, "the emperor has no clothes".
Peter C. has delivered absolutely zero shareholder value whatsoever.
He is an obvious liar and in the opinion of many, nothing better than a common thief.
It's beyond my comprehension that anyone could intelligently bring themselves believe a word that he says anymore.
The Lingenfelter GTO plan died, the Ridgeline plan died, the $80m contract was a sham, the Revenge building was never purchased, the new building was never started, the huge GTM-R "buyer interest" never existed, the "Magic Motor" Verde died, the "Magic Motor" installation centers and franchises died.... in fact, none of us know if the GTM-R or the Verde / Blade / BS-Mobile ever even ran.
Peter has failed and bailed on Revenge Designs Inc. We never even got a kiss after we were used and violated.
It's over. It's just that simple, the fat lady has sung, the turkey needs a fork stuck in it and RVGD is dust in the wind........period.
Imagine if a magic millionaire rabbit came to each and every RVGD shareholders home and gave them a kajillion or maybe even a gazillion dollars, wouldn't that be nice, too...... because our chances are much better with the magic rabbit than with Peter, as history so aptly demonstrates....(it's that whole "learning from the past to better understand the future" thing)
After around a year of "You Lie & I'll Swear To It" BS from the Doug & Peter show, it appears that the truth has finally come out.
Just as there are not going to be any 750 "Verdes" or "Blades" manufactured by RVGD, (much like the 1,000 Revenge GTO's and / or the who knows what number of GTM-R's), there aren't any "magic motors", either, just a dark facility with some part time help making race girdles.
There was no deal with the enormous E85 processor. (much like no deal with a big car dealership chain, maybe Penske)
There were no "orders" (much like the no $80m "contracts") for 300,000 "magic motors".
There was no actual manufacturing facility (much like the never happened groundbreaking for the expansion in Decatur) pumping out the "magic motors".
There was pretty much nothing but BS, as time has now proven....
In reflection, Doug just about paralleled the Revenge business model of pumping out "information" with no verifiable substance, perhaps simply to buy time in hopes of coming into contact with some even greater fools, hopefully with deep and deeper pockets.
Something to think about might be to see if Doug & / or his Company were the source of the $450K "investment that maybe wasn't" in one financial instrument configuration or another.
By the way, this sad ending was prophesied pretty concisely just after the big news came out after the "GTM-R is dead, long live the magic motor supercar" announcement by many insightful board contributors, most of whom were criticized for negativity and their lack of belief in the ridiculous voodoo physics supposedly involved.
This turkey has been done and ready for a fork for a long time……
I feel certain that a man of Peter's personal integrity can be counted on to maintain, per long established behavior patterns, his historic record when it comes to honesty and fair dealing.
In other words, Henry County is undoubtedly toast!
ROFLMAO!!!!
I'm sure that you're right.
Of interest to me since we heard about the "big new plans" is how the body of potential disgorged assets rights and intellectual property surrounding the "Blade" etc "creation" that has been developed under Revenge Design Inc.'s ownership, and therefore a well publicized asset that can belong to no entity other than RVGD. It would certainly seem that every design aspect of the new vehicle was developed on the corporate nickel of RVGD, which would then obviously own those rights.
I know that it's silly to attribute things like legalities, ethics and common business practices to the exercise at hand, but does Peter really get anything and everything that Revenge Designs owns or is entitled to as kind of a "gracious parting gift"?
The more I read what I just wrote, the sillier it gets, Peter, of course, will do whatever he wants with the Company we paid for, as always. Maybe marcg, Maronti and jimp can ask the next time they have their regular and highly substantive phone calls with him.
Then again perhaps "Protectorman" can expand his range of duties!
...
It's called the "happy lemming syndrome", Dog..... they smile till they hit the bottom of the cliff, and then their corpses still smile.... they BELIEVE!!!!
Something very "Deja Vu" about the dealer concept.
Eastern European dealers?
Premier US exotic car dealers?
PENSKE?????? IS IT PENSKE??????? PENSKE IS HUGE!!!
Sadly, Dog, I agree 100%
Maybe what we need here is a new and improved rumor.
Let me know how you like this one:
A friend of a good friend of mine was out in the almost Everglades area of Naples where the Ford test track is, the one with the 12,000 ft straightaway track running just east of and almost connected to the semi-oval track itself, about a half mile off I-75 by where Desoto and SE 34th Ave intersect. There was a guy there with a bright green colored rocket of a car that was kind of camouflaged with stripes all over, like you see in the spy photos that they said was running the new ultra light weight 5.0 prototype Coyote V8 with racing mods. Now, he didn't know which or who the big shots that were by the car were, but the word was that this disguised prototype had done over 210 on the straight track and handled better than their mule Ferrari on the twisty course. One of the guys with the car had some kind of foreign accent, maybe Irish or British, who knows... but the big shots (who came over in a blue chopper with a "Ford" oval on the door) were all slapping him on the back and they were saying stuff like "we have a deal, mate". Nobody knows what was going on, because as soon as they noticed my friend's friend and his crew, they had the prototype covered up and rolled into a race trailer and they left. Of course, it's hard to draw a 100% conclusion, but he just wanted to tell me what his friend saw.
How was that..... can I give good rumor or what? (still cracked up about the "dividend royalties"!!!)
You know what I'm thinking, Dog, is that maybe he created the new entity just to be a marketing / dedicated "middle man" company for another outfit that's already doing "replica" GT40's, (and there are maybe 15-20 of them that I'm aware of) which was the base car for the "Verde" (now "Blade") at the most recent show. The price is high enough that they could do onesies and twosies and still pay some kind of a token "design royalty dividend" (that still cracks me up!) and he would really not have to do a whole lot.
Peter would be rid of the shareholder headaches and just do some designing and some "sincere" Aussie accented selling. If he can move a dozen or so a year, he could probably make himself an ok living, cuz this whole "green thing" hasn't been working out so well.
He wouldn't need much of an investment (if any), and he could keep on running the slick ads and maybe grab another cool award or two.
Of course, I can't fathom a 4,000 unit production run at all, but Peter has never let things like valid numbers etc get in the way of a good PR.
Obviously, the RVGD shareholders would keep on being treated in the same way they have been, but it's been obvious for some time now that the shareholder base is the very absolute least of his concerns.
best as always.......!
Let's look at some issues:
First of all, there was never any "hire". The CONNECT E.I.R. stands for "Entrepreneur In Residence", it's a networking group that's free, see below:
"The CONNECT Springboard| E.I.R Program is fortunate to draw upon a pool of highly-qualified individuals who volunteer their time to serve as Springboard Entrepreneurs in Residence. Entrepreneurs in Residence are invited to serve based upon their experience in raising venture capital and growing successful companies.
Currently CONNECT has close to 100 EIRs volunteering their time and expertise towards the Springboard program."
So there has been no "hire". Somebody's volunteering some of their free time (and maybe hoping).
Secondly, the entire concept of "Royalty Dividends" is totally subjective as well as typically RVGD quality "vague to the utmost" and clearly begs the fundamental questions and obviously failed challenges that have plagued the RVGD exercise in general since its inception.
Nobody has any idea about how much a "dividend royalty" (if one ever happens) might be, period.
Further, such a "Royalty Dividend" would obviously be paid to the Company that is doing the design, NOT TO THE SHAREHOLDERS. The shareholders didn't do any designing, the Company that they've funded the past seevral years did.
When (and if) any sum of money were to flow to RVGD, any payout (again, if any) to the shareholders would be, of course, at Peter's sole discretion. He will be fully within his rights to keep every red cent of anything collected within the coffers of the Company in perpetuity if he so desires, attributing it to R & D, related design cost offsets, additional staffing, expanded studios, equipment purchases, any variety of other capital or facility expenditures he deems appropriate and, of course, raises and bonuses also solely as he determines.
In short, he can do whatever he wants and, due to never once financially reported squat (because RVGD is non-reporting.... his shareholders "trust" him) or ever once providing absolutely any financial information whatsoever in the entirety of his Revenge past history, would have no reason to start now, why should he, after all?
To summarize.... any idea of what might be going to happen here of a positive nature, (so far, it's just one more engorged number after another pulled out of thin air that's being bandied about, along with the 4,000 Blade number), is completely without objective or discernible basis or value, and the long suffering shareholders here yet again are being asked to trust Peter Coloraffi to deliver. Right...... Sure Thing!
Like the 1,000 GTO's
Like the $80,000,000 contract
Like the new building
Like the scads of GTM-R's that were being ordered at the 1st shows
Like the "Magic Motor" installation centers
Like the "Verde" itself (well, except for drivetrain or interior, that is)
Like all of the other promises that have been made on this three year parade to zero revenues and abject shareholder devastation.
Those who do not learn from history are destined to repeat its mistakes.
Revenge is and was (and by now has comprehensively proven itself to be time and time again) just such a mistake, simple stuff.
And all wide-eyed self-deluding lemmings should line up over there at the edge, peer into the deep abyss of lost shareholder value and keep smiling, because Peter is going to start doing the right thing real soon.... it was in a press release, so it must be true, right!...... Jump at will.
Peter loves you, and his new Company does too........!
Quite perfectly articulated. Thank you!
Dog IS The MAN!
Magnificent!!!!!!
Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clao Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap Clap........ lighters held in the air!!!
Just Great, and Thanks!!!!
I humbly second "Hotel California".... spot on perfect!
Wise old Dog indeed!
Dog, be careful here, and don't "pull on Protector-Man's" cape, or was that an old Jim Croce song...... hmmmm in fact, the entire "protector of the realm" concept is an interesting one indeed, on many fronts.
I wonder if a special costume goes along with the title, and further wonder what a "super-hero stock protector" outfit is comprised of..... utility belt, x-ray vision, the ability to cloud men's minds...... mind boggling..... and is there a theme song?
Sorry double post, excuse me please!
When you've been in a business for your entire adult life and some new bit of "relevant" nomenclature comes to your attention, perhaps one's intellectual curiosity may be piqued enough to invest 30 seconds in simply checking it out.
Mine was, I did and I've done well enough to be able to enjoy quite an adequate variety of hobbies, while still retain enough brain function to always be willing to consider and briefly research something new.
Now I'm going golfing........
Thanks for your concern, however!
First of all, there really is no such term as "due diligence gag" per se, and while your explanation is certainly clear, I had never heard the term in 40+ years of investment banking, so I checked through Investopedia and InvestorWords and learned that no, it really doesn't exist.
An agreement not to discuss anything going on with a merger or acquisition is readily understandable (as is a pre-offering quiet period), and extremely commonplace as you indicated.
Both kkgd and myself, by sheer coincidence are familiar with a "little gem" of a triple zero fiasco named RVGD (Revenge Designs), who's CEO has grossly mischaracterized virtually each and every occurrance that has come along the past several years, from breaking ground on a new building that didn't ever exist, to "announcing" an $80,000,000 non-existent contract to hyping a chain of radical "new" 110mpg engine installation centers to just about anything you might imagine, and it's gone on ad naseum for literally years now.
Yes, it can be worse, much much worse!
Waving this hand good bye as Decatur IN fades slowly into the sunset, hearing "Taps" being played softly on the background and wondering what "might have been'......nahhhhh probably just good riddance, enough vapid, hollow (at best), deceptive (at worst) BS from one company for one lifetime.....
Nope, "bashers" and "pumpers" alike appear to be taking a day off, maybe in preparation for a "major PR" or a R/S..... who the heck knows?
Anyway, AutoWeek has a great article about the new hybrid Porsche 918 spyder supercar... 680 hp, 78mpg, 200mph and 0-60 in 3.2...... but who would believe a "no-name" like Porsche, what do they know about cars, anyway??? Then again, maybe Pete and Doug have been consulting there and that's why things have been so quiet here on the home front.
(sometimes I crack myself up!).....and the beat goes on!
I've known Harrison Parrish for almost 20 years, and your take on him is spot on.
I became involved as a shareholder here solely because he became a part of the team, it's just that simple.
Harrison is a bright guy, a 100% straight shooter and simply wouldn't attach his name, reputation, time or energy to something that he wasn't confident about..... he sure doesn't need the money after his timely stock sales at Movie Gallery when he moved three million of his shares at an average price of over $22.
In my opinion, following him is following smart money.
Spot On Dr. Nuclear, concise, articulate and to the point.
Regardless of the degree of enthisiasm that some display toward the future of RVGD, the facts at hand support a contradictory opinion quite eloquently.
Dog, do you believe that this is yet another part of the conspiracy?
"Global Lock Stiletto AIG".... mmmmm good
I'll take two, you silver tongued dog devil!
Emily Got Married! Lovely Emily LeVault, Revenge's director of marketing (way back, when they at leaset "SEEMED" like they were going to have a vehicle to market and hopefully sell) got married in Late December.
Congratulations to Emily, who not only was a breath of fresh air, but actually could spell and use proper grammar in what she wrote.
I guess those were the "Good Old Days!
She's now Emily DeVault-Hall....