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Renzi Bros. sues Seaway Valley
By DAVID WINTERS
TIMES STAFF WRITER
SATURDAY, SEPTEMBER 25, 2010
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CANTON — A Jefferson County food service distributor has filed suit against Seaway Valley Capital Corp. and its president, Thomas W. Scozzafava, seeking payment on debt totaling about $120,000.
Renzi Bros., Watertown, is a food service distributor that covers 15 counties in the state, including Jefferson, Lewis and St. Lawrence. The company provided food supplies for North Country Hospitality Inc., which includes Sackets Harbor Brewing Co.; Sackets Cantina; Alteri Bakery, Watertown; Jreck Subs Bakery; Good Fellos, Sackets Harbor, and several Jreck Subs locations.
Seaway Valley assumed a roughly $205,000 debt owed to Renzi Bros. when the holding company merged in June 2008 with North Country Hospitality, St. Lawrence County clerk's office records show.
A year later, Renzi Bros. sued for total payment of the debt, claiming North Country didn't make payments. An agreement was reached to pay off the debt, with Mr. Scozzafava giving "his personal guaranty of payment," records show.
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The lawsuit alleges that Renzi Bros. received 10 payments totaling $100,000 before the money stopped coming in May. The suit states that five payments haven't been made since, including a payment for September.
The debt owed totals $120,554.77. The suit was filed Wednesday.
Mr. Scozzafava didn't respond Friday to an e-mail seeking comment.
Lenders to eatery, brew pub file suit
$1M IS OWED: Assets spread in 'fraudulent' way, financiers claim
By BRIAN KELLY
TIMES STAFF WRITER
WEDNESDAY, APRIL 7, 2010
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Financiers of the Sackets Harbor Brew Pub and Good Fellos restaurant claim the owners owe them about $1 million and, if the money is not paid, the lenders want the businesses sold to satisfy the debt.
Stephen and Kathleen Guarino, Medford, N.J., Thomas Guarino, Mount Laurel, N.J., and Phoenix Capital Opportunity Fund L.P. filed state Supreme Court action Monday at the Jefferson County clerk's office against North Country Hospitality Inc. and the company that now controls it, Seaway Valley Capital Corp.
It is alleged that the Guarinos provided a series of loans totaling $525,000 to North Country Hospitality, which defaulted on them. It also is claimed that Phoenix Capital obtained a $547,000 judgment against the company, a judgment that remains unpaid.
According to court documents, Stephen and Kathleen Guarino lent Christopher M. Swartz, former president of North Country Hospitality, $125,000 in April 2005 and $200,000 in September 2006. Thomas Guarino lent Mr. Swartz $100,000 in September 2006 and an additional $100,000 in March 2007.
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In May, a Florida court entered two judgments on behalf of Phoenix Capital against North Country Hospitality because the latter company had defaulted on loan agreements. Mr. Swartz signed a confession of judgment in the matter, conceding the money was owed. The first judgment was for $235,000, while the second was for $22,000.
When the judgment went unpaid by August, Phoenix Capital started action in state Supreme Court seeking its enforcement in New York. On Oct. 1, Judge Hugh A. Gilbert awarded the company summary judgment for the amounts, plus interest.
The debts predate Seaway Valley's ownership of North Country Hospitality, but the lenders claim that as successors in interest, the corporation is liable for payment. Seaway Valley acquired the assets and companies of North Country Hospitality, owner of Alteri Bakery, Sackets Harbor Brewing Co., Sackets Harbor Brew Pub, Good Fellos Brick Oven Pizza and Wine Bar and 1812 Station House, in June 2008.
The lenders claim that the agreement transferring the entities' ownership to Seaway Valley made it responsible for all debts and liabilities "whether known or unknown" as of June 1, 2008. The lenders claim that Thomas W. Scozzafava, chief executive officer of Seaway Valley, knew or should have known of the debts through the due diligence process. <<ANOTHER WHOOPSIE I DIDN'T SEE IT FROM TS>>
The problem for the lenders, it is alleged in the suit, is that the assets of North Country Hospitality have been dispersed among other several other entities controlled by Seaway Valley, causing the lenders to "expend additional effort to track down where the assets have been moved" and to seek judgments against multiple entities.
The lenders claim the transfers are "fraudulent" transactions designed to "have the effect of separating the assets securing the debts from the parties who undertook the obligation to repay" them. They claim the transfers occurred at the direction of Mr. Scozzafava and with his approval.
Neither Mr. Scozzafava nor Mr. Swartz could be reached for comment Tuesday.
The lenders claim they have a security interest in the assets of the Sackets Harbor Brew Pub and Good Fellos, as well as other assets not specified in the suit. They are asking for judgments for all of the money allegedly due, or that all of the assets of the former North Country Hospitality be surrendered to them to be sold to satisfy the debts.
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just what we have in the ibox so far..Outstanding Shares
11,070,675(Confirmed by TA 11/12/2008)
granted, it's almost two years old, looking at the chart, i dont think there could be that much dilution since then
The number one reason that a captive fails to launch is that the business owner does not have or cannot secure the necessary capital to fund the reserve. Concordis Capital, Inc. has eliminated this obstacle by becoming an equity partner in the captive. By funding or partially funding the captive cells, it gives the Company a unique value proposition and it ties the Company more closely to the client.
what's going on ernie nice little volume spike
very nice. can't wait to see what jeff can do!
what filing...i missed it?
he's been gone for a very very long time
I think every single PR needs to be reviewed for honesty, integrity, and flat out lies.
no one is going to try a hostile takeover of a "business plan"...that's all QASP is right now, right? I'm not bashing, i been here since EQUR, but i am literally throwing EVERYTHING Dean has said out of the window. And even JR says QASP has a very "workable business plan"....no mention of assets or patents or anything really.
there is no more OS to be added...we are tapped to the AS. and if JR stays true to his word about not increasing the AS and not RSing, then everything we do will have to be private for now
muuuuuuch better times, but i truly believe that Dean's constant lies were the problem. we have a new team, i'm willing to give them a chance.
Yup, this was on my radar, saw a little movement on March 5th or 6th when it was EQUR, people had RM rumors, and now, a year and a half later, i'm still here..hoping to turn back green
man is it nice to see some new management here...i have literally been in this stock since day NEGATIVE five (bought on RM speculation on March 6th 2009)..i think i'm the longest surviving shareholder, unless someone outdates me back to equus
FACT. let's focus on the NEW ceo and management team. we should be thankful that the lying old fart has been removed and we actually have a chance at pulling off funding.
i have new hope in QASP. i believe we can make it back to the pennies shortly once management gets caught up to date with info, gets funding, closes deals, and fixes the mess dean has created
How does Dean get away with blatantly lying about Jeff Landreth and Gene Johnson?
We would also like to clear the air on some misstatements in the last two PR's.
Jeff Landreth and Gene Johnson have never signed a consultation contract with
Dean Bradley and/or Quasar International Holdings. However, Jeff Landreth
stated, "We respect the current management team and the business plan, and upon
funding, we look forward to exploring all opportunities in the future."
BLAST OFF!!
weeeeeeeeeeeeeeeee!
QASP NEWS!!!!
ACKSONVILLE, FL, Sep 24, 2010 (MARKETWIRE via COMTEX) -- Quasar International
Holdings, Inc. (PINKSHEETS: QASP): Dean Bradley has stepped down from all
corporate positions. Mr. Bradley has also resigned all positions of authority in
all Quasar subsidiaries. Mr. Bradley's 75% voting rights, by way of Series A
Preferred shares, will be placed in a trust fund to be managed and overseen by
attorney Daniel Vaughn, and Apex CEO, Jeff Landreth.
Quasar is very pleased to announce its new corporate structure. Jeff DiGenova
will be taking over the CEO and President positions effective immediately.
Joshua Henderson will be the new COO, and Tracy Rose will be filling the CS
position.
As an update to shareholders, Mr. DiGenova commented, "I know there have been a
lot of concerned shareholders: however, Quasar has a very workable business
plan, and one that I believe we can see to completion. I'm very glad to be in a
position that I can now help Quasar to achieve its objectives. I am receiving
daily updates on the status of our funding, and it looks promising at this
point. One thing I would like to assure our shareholders of is that, at this
time, there will be no changes in our authorized share structure, nor will there
be a reverse split. Any need to raise funds presently to get us to the finish
line must be done privately; it is evident that our shareholders have been
tapped hard enough."
Our headquarters will remain at Herlong Airport. Atlantic Aviation and Corporate
Air Repair will remain as integral parts of the business plan. However, we have
made the decision to rescind the acquisition agreement with CET. The rest of our
target acquisitions are completely committed to joining the Quasar family."
We would also like to clear the air on some misstatements in the last two PR's.
Jeff Landreth and Gene Johnson have never signed a consultation contract with
Dean Bradley and/or Quasar International Holdings. However, Jeff Landreth
stated, "We respect the current management team and the business plan, and upon
funding, we look forward to exploring all opportunities in the future."
This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended and such forward-looking statements
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements as a result of various factors, and other risks.
You should consider these factors in evaluating the forward-looking statements
included herein, and not place undue reliance on such statements. The
forward-looking statements in this release are made as of the date hereof and
Quasar Aerospace Industries, Inc. under take no obligation to update such
statements.
Contact:
Quasar International Holdings, Inc.
IR@quasaraerospace.net
SOURCE: Quasar Aerospace Industries, Inc.
CONTACT: mailto:IR@quasaraerospace.net
Copyright 2010 Marketwire, Inc., All rights reserved.
-0-
SUBJECT CODE: Aerospace and Defense:Aircraft
DEAN IS GONE!!!
ACKSONVILLE, FL, Sep 24, 2010 (MARKETWIRE via COMTEX) -- Quasar International
Holdings, Inc. (PINKSHEETS: QASP): Dean Bradley has stepped down from all
corporate positions. Mr. Bradley has also resigned all positions of authority in
all Quasar subsidiaries. Mr. Bradley's 75% voting rights, by way of Series A
Preferred shares, will be placed in a trust fund to be managed and overseen by
attorney Daniel Vaughn, and Apex CEO, Jeff Landreth.
Quasar is very pleased to announce its new corporate structure. Jeff DiGenova
will be taking over the CEO and President positions effective immediately.
Joshua Henderson will be the new COO, and Tracy Rose will be filling the CS
position.
As an update to shareholders, Mr. DiGenova commented, "I know there have been a
lot of concerned shareholders: however, Quasar has a very workable business
plan, and one that I believe we can see to completion. I'm very glad to be in a
position that I can now help Quasar to achieve its objectives. I am receiving
daily updates on the status of our funding, and it looks promising at this
point. One thing I would like to assure our shareholders of is that, at this
time, there will be no changes in our authorized share structure, nor will there
be a reverse split. Any need to raise funds presently to get us to the finish
line must be done privately; it is evident that our shareholders have been
tapped hard enough."
Our headquarters will remain at Herlong Airport. Atlantic Aviation and Corporate
Air Repair will remain as integral parts of the business plan. However, we have
made the decision to rescind the acquisition agreement with CET. The rest of our
target acquisitions are completely committed to joining the Quasar family."
We would also like to clear the air on some misstatements in the last two PR's.
Jeff Landreth and Gene Johnson have never signed a consultation contract with
Dean Bradley and/or Quasar International Holdings. However, Jeff Landreth
stated, "We respect the current management team and the business plan, and upon
funding, we look forward to exploring all opportunities in the future."
This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended and such forward-looking statements
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements as a result of various factors, and other risks.
You should consider these factors in evaluating the forward-looking statements
included herein, and not place undue reliance on such statements. The
forward-looking statements in this release are made as of the date hereof and
Quasar Aerospace Industries, Inc. under take no obligation to update such
statements.
Contact:
Quasar International Holdings, Inc.
IR@quasaraerospace.net
SOURCE: Quasar Aerospace Industries, Inc.
CONTACT: mailto:IR@quasaraerospace.net
Copyright 2010 Marketwire, Inc., All rights reserved.
-0-
SUBJECT CODE: Aerospace and Defense:Aircraft
wtheck happened today?
so basically.... long story, short:
we're all still in the crapper?
no PM, nope, still stuck in that craphole.
what ever happened to James Ray and Mark Lundquist? Not even a PEEP about them or their positions since the original PR stating they were "on the team"
IT DOESNT LOOK LIKE IT WAS THE LOCATION, BUT RATHER VERY VERY POOR MANAGEMENT THAT KILLED THE LEGACY OF A RETAIL CHAIN THAT HAD LASTED OVER 100 YEARS BEFORE SCAMZAFAVA TOOK OVER!!!
Fashion Kraze Will Open Stores In Ex-Hackett Spots
By MARTHA ELLEN
WEDNESDAY, SEPTEMBER 15, 2010
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CANTON - Fashion Kraze plans to open stores by the end of the month at former Hacketts locations in Gouverneur and Watertown.
"We're also looking to go into Potsdam and Lake Placid," said Richard A. Greenspan, president of Masters Inc., operator of Fashion Kraze, which specializes in discount name-brand clothing. "We like it up there."
Masters provided the clothing line for WiseBuys before it consolidated with Hacketts. Afterward, Masters opened several stores in the north country, including Gouverneur, as Fashion Kraze.
It closed its Gouverneur store, then located in the Remington Furniture Co. building, 67 E. Main St., at the end of 2009 because of a lack of sales. People complained parking was a problem, Mr. Greenspan said.
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His company was contacted by Soggs Commercial Properties, which owns both the Gouverneur and Watertown properties where Hacketts was located.
"We've rented a piece of the old Hacketts buildings to them," Randolph B. Soggs said. "It's about 15,000 square feet at each of the locations. We're anticipating they'll do very well."
The Watertown property has additional space of 1,000 square feet and 7,200 square feet available. Dollar General is moving to the center of the plaza so it has more room, Mr. Soggs said.
In Gouverneur, Mr. Soggs is negotiating with a national chain he declined to identify for the remaining 37,000 square feet.
"We'd be very excited to have someone with us," Mr. Greenspan said.
Masters opened Fashion Kraze in Canton at the former Aubuchon building in Midtown Plaza before moving last year to the vacant Hacketts building in University Shopping Plaza. It also operates a Fashion Kraze in Hamilton in a location where Hacketts once was, Mr. Greenspan said.
does anyone know if ANY of verity's posts have come to fruition? or is he just the ONLY person to "be in contact with behind the scenes information" which i find hard to believe.
how about some documents? or a press release regarding the situation
haven't heard crap from the company in close to a month...
too bad they are still in BK
because it's just fluff. not good news at all. just the same thing over and over and over again.
RSI still showing that it has room to drop.
no volume because everyone is well aware of the scam that is going on behind the scenes with becker and scozzafava
can't afford those...i'm stuck with Popov and Taaka.
drinking my QASP-related pains away...supposedly we will all have happy faces next week...whats the deal? i could use an upgrade on my vodka
update me!
LOL this isn't going anywhere.
"oversold" because the company is dumping.