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Another good question would be...
Who are GKB Enterprises....??
Is this a division or subsidiary of RVGD or another entity that owns the land / building etc?
It would be somewhat comforting to know that the Company owned a building worth that much free and clear, which is what I'd been assuming (maybe incorrectly) all along, particularly after all the discussion that went on a few months ago about a new facility that the Company was going to build on the adjacent land.
Very little of what went on in terms of communication with Revenge about the building / permits, etc would make much sense if the land doesn't belong to the Company.
Maybe it's just me, but there always seems to be kind of an "Alice in Wonderland" quality about the Company in that a great deal of announcement quality attention is given to some T-shirts, which is fine, but the entire really important concept of doing an offering to pay off some toxic financing and erect a new facility is not elaborated on or explained very much.
Per Adams Co. Indiana Assessor's Office...
Per the Adams County Assessors office as of 7/16/08, the Revenge occupied property is owned by GKB Enterprises, and they acquired it from Decatur Rental Center, Inc.
Here are the links:
http://web1.adams-county.com/pti_release/tpinfo.aspx?parcel=01-05-03-300-015.000-022
http://web1.adams-county.com/images/PropertyCards//01-05-03-300-015.000-022.pdf
If you scroll down on the page the 1sr url links you to, you'll see that its the Revenge building which was the rental center at the time that the pic was taken.
It looks like there are 2.39 acres of land involved as well, with 1.0 being the building / lot, etc.
My understanding was that Revenge owned the land and building, and were going to build the new plant on the balance of the acreage... perhaps GKB is a wholly owned subsidiary or something along those lines.
Just some additional information to digest....
Good Question!
The large US manufacturers will all be receiving significant financial assistance from government subsidized / guaranteed loans, but those are simply "survival" dollars in this financial climate. No administration wants hundreds of thousands of unemployed auto workers with the catastrophic economic impact that would accompany that situation, of course.
The most onerous issue facing the industry is the lack of financial consumer confidence that the market is showing, where buying new cars (and in particular US made cars!) just isn't the first thing on people's minds. There will need to be material changes made in the fundamentals of the US auto industry DNA if it's going to survive in this global market. For a wide variety of reasons way too numerous to start talking about, US automakers just can't manufacture and sell comparable vehicles at the same cost points as their international competition, and it's put them competitively between a rock and a hard place right now.
While a great deal of America's discretionary auto spending is being cut back, historically, this hasn't affected the high end of the market as much, where, by the way, foreign manufacturers such as Daimler-Mercedes, Audi(and Lambo), Ferrari, Maserati (where sales are growing at a 20% annual rate!) Bentley (VW), Rolls Royce (BMW) and Aston Martin show continued strength.
Taking the preceding into consideration, it would suggest that the potential niche market for the GTM is still robust.
History, however, also strongly tells us that boutique auto manufacturers such as Revenge are much more prone to fail than to succeed, and that challenge to Revenge is exacerbated by both the tightened credit markets and the obvious stigma that attaches to start-ups, where a "let's wait and see if they're around a year or so from now until we plunk down $100K (+)" attitude is not uncommon.
In summary, if Revenge is going to make it, then they need a super-solid prototype that will be well received by the automobile media, the video game manufacturers (inclusion of the GTM in all of the car oriented games would be huge) and of course the buying public, limited as they may be, itself. I’m old enough to remember when Car and Driver’s “GTO vs GTO” 1960's article favorably comparing the Pontiac GTO to the Ferrari GTO exploded not only the popularity of the US GTO, but helped the entire Pontiac division of GM as well , and this is the kind of press that can make a difference for Revenge. The power of the media cannot be understated, and Revenge will have only one chance to make a great first impression.
Roll-outs like this are both critical & extremely expensive, as auto shows, sales / marketing materials and advertising in general are all major cash guzzling factors in the equation.
Simply put, Revenge's capital needs will mandate deep-pocket affiliations and / or another trip back to the equity markets to successfully move past the entrepreneurial or developmental stages where it is now and be potentially positioned for market share and hopefully, eventual profitability.
The automobile business is an extremely difficult one to survive in, just in general, with way too many failed examples to even start listing. It's imperative to the future of the Company that the intro is strong and glitch free and that the first units out the door are not only glamorous and fast, but reliable and safe as well.
Revenge has it's work cut out for it, and it's cause hasn't been helped by the chronic shareholder relations-credibility issues that it's allowed itself to be characterized by, which of and unto itself is going to take a great deal of rectification if the Company is to have hopes of success in the capital markets.
We live in very challenging times, and the next several months are going to be both critical and highly interesting, particularly for those of us who are RVGD shareholders.
GM Shelves C7 Corvette...
The new C7 body style Corvette anticipated to be released in 2010 (not the supercharged "ZR-1") has been shelved "indefinitely" indicating a 2014 release at the earliest. This is a blow to GM, but may open up their Corvette market niche just enough to sell some GTM's into
From today's "Autoweek Daily Drive" email comes additional grim GM news:
Sinking feeling: GM cost-cutting efforts
By BOB GRITZINGER
Now comes news that GM is, in fact, shelving virtually all product development efforts for 2009 and 2010, all in the name of keeping enough cash on hand to pay the bills. As with the Corvette decision, it all seems shortsighted, as though GM is making a move to save itself in the short run for a future where--because of a lack of new product--its likelihood of survival is tentative at best.
So what comes next? A good guess is that the next big announcement will be the retirement of GM vice chairman and product czar Bob Lutz. Give Lutz credit for keeping GM alive and on the upswing (at least on the product side) thus far, but like Wallace, why would Lutz stay on with zero dollars for product development in the foreseeable future? Lutz, famous for his "Sez Who?" stickers which questioned everything GM was doing wrong when he came on board, doesn't strike us as the kind of guy who likes to take "sorry, we can't afford that" for an answer.
And then what? Can GM's excellent design and product-development staffs survive another round of bean-counting and brand management by people who wouldn't know a good car or truck if it plowed into them in traffic while they were checking their stock prices on their Blackberries while driving into GM's headquarters?
Yes, it turns out the C7 news was just a harbinger of bad news. The iceberg metaphor is apropos, considering GM often is considered as hard to steer as the Titanic, and just as likely to plow into an obstacle as it is to make its way clear. Without product development, GM may be able to float for a while longer. But it will take good products to save the ship from sinking.
Ford, I understand what you're saying, but let's think about it this way for just a moment.....
FF5 does around $7.5mm annually in 62,000 ft of space with a total of around 50 employees, and those employees do mostly manufacturing and packing as you indicate, and virtually no assembly for all intents and purposes. I'm surmising that they have this many employees because that's how many folks Dave and Mark Smith know that they need to make the number of kits that they sell now. The Smith Brothers haven't reached their #1 leading position in the industry by NOT knowing what their costs are, they're pretty sharp.
If RVGD is to hit the "two a week" GTM manufacturing number, that means that FF5 will be making at least 100 bodies and frames a year as contrasted to the 30 or 40 over almost three years that they've made so far. Logic dictates that this means they'll need significantly more labor and operating capital just to do what they're already doing, along with their coupes, cobras etc to knock out that many new GTM bodies. Now, if memory serves me, there are going to be material modifications to the base Revenge GTM, which complicates things even a little further.
We then get to the issue of OEM caliber overall assembly, well above and beyond anything that FF5 does right now, and that means that additional assembly, interior fitting, wiring, soundproofing, interior installation and painting are going to have to be done somewhere, and that place doesn't seem to be part of any current information that I've seen.
My point is a simple one: given that there may be an $80mm contract out there, don't there have to be more big players in the game to make manufacture of 800 GTM's (800 x $100,000) a viable concept?
At the 100 GTM's a year level (two per week), that's eight years of manufacturing to look at, which is going to require more capital for RVGD as well, unless their partner is an entity that hasn't been impacted by the current US / world economic realities regarding credit, operating funds and an evolving market.
All in all, this exercise isn't as simple or off-handedly facile to solve as the current "Go Revenge!!" attitude indicates. There are lots of sound economic reasons that start up car companies seldom make it, even in the best of times, and these realities represent a level of challenge exponentially higher now than when originally conceived.
I look forward to seeing the first Revenge GTM, but am really anxious to see how the overall manufacturing and business operational matrix evolves, because that's what will determine the success of Revenge.
Has anyone ever tried just calling Peter at home?
It may be a better time for him when he's away from the hustle and bustle of the shop.
Rules of common courtesy should be followed of course regarding time of the calls, etc.
You make a good point, particularly when you take into consideration that based on FF5's 08 total projected sales of between seven and eight million, the eighty million number with them would seem to be an unrealistic one. The contracts would have to be with somebody else to hit those numbers.
Preview of Things to Come..? GTM @ the Track
Just an interesting vid of an LS7 engined GTM casually reeling in the odd Ferrari or two at the track.
Looks like fun!
http://upload.streetfire.net/video/FFR-GTM-on-the-Track-LS1_80716.htm
I'm as surprised as you are about the pricing. It's been a long time since I went out and bought parts to install or have installed, but the prices do seem quite a bit on the high side to me. My frame of reference regards when I peeled my passenger side view mirror off last year, and a 100% new one, with the entire remote apparatus included and painted to match, including installation only came to $365, and that was on an 07 M6, a car that is noted for having high cost replacement "everything"!
I'm as surprised as you are about the pricing. It's been a long time since I went out and bought parts to install or have installed, but the prices do seem on the high side to me
Hobeau96 Let's Take a Quick Look, Ok!....
today you posted:
Posted by: Hobeau96 Date: Friday, July 25, 2008 11:56:20 AM
In reply to: maronti1 who wrote msg# 89972 Post # of 90027
Moronti1!!!
Moronti1! I just got off the phone with the State of Nevada Secretary of States Secuities accounting Department. The issue is as follows. Peters annitial check was not lost by the State office. Payment was denied by Peters bank for insuffient funds. The State office contacted Peter and informed him and Peter subitted a payment by charge card which did not go through. The State office sent Peter a letter on July 21, 2008 and there has been no response from Peter since as of today. The posting of default is current and the hold is still in effect pending a payment response from Peter. (Fact) Could be that Peter has not or has just received the letter from Nevada.
And you know what, I believe you!
Building?....what building
Transparency?.... promised and never delivered
Production schedules? yeah, right.....lol
Gimme a break........ and I'm down... have a great weekend all!
JCMoney...Ridgelines being #1 still way down from last year!
Thats why they moved their production facility, to better accommodate their drop in sales... the fact is that most everybody else is down even more... that's kind of like praising someone for having the best salmon mousse in Compton.. valid fact... but look at the overall picture, it's a comparison of bad to worse.
Same Question Asked Yet Again......!
Does anyone know of a single instance involving a statement made by Collorafi that hasn't been clouded in now ever increasing shades of grey? Has he ever told us the simple truth?
There is no question in my mind that Hobeau96 made the call and was told precisely what he conveyed. His credibility is impeccable. Collorafi's credibility has been consistently flawed to the point of being nonexistent in my opinion.
The bounced check / declined credit card (and yes, these are not good indicators of financial stability, they suggest exactly the opposite, and that's bad.... very very bad) is yet another pathetic example of what we're dealing with here.
The new building fiasco...which, like the preceding has now been revealed for what it was...more deliberate misinformation.
The production updates that never happened.
I'll stop right here without even addressing the big contracts, the share increase, the dilution, the promised transparency or anything else.
Let's just look at the man.
If what we can check on has turned out to be pretty much across the board untrue, then why should we accept anything that he says? These are just the things we now KNOW about, which suggests that there is even a body of information that we’re absolutely clueless about, which is quite ominous to my thinking.
He has failed at every turn to make the slightest attempt at earning the trust of the people who made this Company possible.
There is no reason for a "prudent man" to believe absolutely anything that Collorafi says, because his well earned reputation for less than honest presentation of facts has been established beyond a shadow of a doubt.
I don't care what his business problems are. Every start-up has business problems, and most center around cash flow, just that simple.
Before anyone goes the route of explaining how hard it is to start a new business etc etc etc, let me assure you that I have started a number of businesses and encountered every form of growing pain that can be encountered. Collorafi isn't dealing with an 18% prime rate, cattle not being brought to market (big big problem for a steak house chain) or hurricanes that destroy your manufacturing facility. Several of my companies are now multi billion dollar household names, several were acquired profitably for my shareholders and one was liquidated outright (the shareholders recouped their investment 100% through insurance proceeds).
Regardless of what degree of "end of the world" crisis was going on, know this: I never lied to or hid from a shareholder, not because there were laws about it, but because I brought a degree of personal integrity to what I did, just as Donald Trump did when he did his almost ruinous re-finance, just as Steve Jobs did when he rescued Apple from bankruptcy's door and just as just as Jack Rowe did at Aetna when it was losing a million bucks a day.
If you simply tell a shareholder what you're doing and deal with them honestly, you'll make a friend and an ally. If you treat them like Collorafi does, you plant the seeds of your own demise.
Collorafi....... TELL THE TRUTH…... (that is, if you can.......)
As of 7AM, .0001 bid .0004 ask...interesting chop...!
I wonder if this wide differentiation points to another unholy cabal on the part of the MM's?
Cheaper for Buddy to wipe with RVGD share certs..?
Sorry, just a cheap shot at some very low hanging humor fruit.
I'm sure that there are some cheapo generic toilet tissues that are cheaper than .0001... but it's too early to do that level of math right now, so I'm going golfing... have a great day
maronti1...I Respect You & Appreciate Your Efforts...!
But if you sincerely ask yourself "what has Collorafi told us that turned out to be true?". we both know what your answer has to be.
I'd be tickled pink to see the leopard change its spots, but many many years of experience in the investment business community has taught me to recognize that the best predictor of future action is past behavior, and that's pretty darn scary when it comes to Revenge.
I don't mean to be negative so much as I encourage the steadfast scrutiny of someone who has taken our money, fed us fabrication after fabrication (transparency, the share scenario, the building, the production schedule, etc etc etc) and apparently expects us to accept his statements on their face value, when he has done absolutely nothing to earn shareholder trust....and I mean nothing.
We can all hope that things will start getting better, but hope has never been a winning strategy, so I will choose other, more time proven and successful methods with which to proceed.
Look, you're doing the best communication job of anyone on the board, and it's important that you maintain the position you hold with Collorafi. Time and time again, you’ve gone above and beyond the call, for which I am sincerely grateful.
But please don't address any issues of why there shouldn't be an immense aura of negativity hovering over this board.... there’s a .0001 bid out there that pretty much summarizes it all.
In-House IR / Corp. Marketing Head...?
My read on Collorafi's statement (which, of course has been jaded by the manner in which he has lived up to his comments in the past) is that Revenge was looking for someone in the marketing area, which is implied by the comments regarding name and quality recognition, which would seem to be more operational and product oriented than IR based.
Of course if this hotshot recruit is eager to live in Decatur freakin' Indiana, population around 10,000, then he could probably be finessed into taking the IR calls as well, which he might handle at night. Sheesh, he may as well walk the shop dog too.
Thanks JCMoney...Your Efforts Are Appreciated..!
So Collorafi Promised Tranparency AGAIN..?
Were you able to get a sense if this promise of transparency was a better one than his last several?
May we assume, then that he didn't give you any objective and verifiable information on any of the other topics?
Please don't regard this as any kind of criticism whatsoever, but after countless attempts at trying to make contact and elicit some minute particle of factual, impactive and verifiable information, particularly after getting pretty much nothing but unfulfilled statements for so long, I would think that you would be less than satisfied with another statement that he would honor his last several identical statements.....am I missing something here?
JC Money...What Did He Tell You...?
about production?
about the new building?
about financials?
about the share structure?
about transparency?
I think that it's great that you got through and can finally get some answers...
Please share the information about our company, and thanks in advance...!!
I Got A Reply....!
Collorafi answered my email and said to "call him".... I, of course, wanted his response in writing for all the reasons we know so well, but in an attempt toward at least showing good faith on the part of a shareholder, I did exactly what he said and called....three times..... and have never been called back.
He has failed to delievr at absolutely every opportunity he has been given, so my attempts at handling the situation in a professional and courteous manner have ended.
Here's What I'll Do......!
If Collorafi makes something happen with the company we financed for him, then I'll hopefully sell my shares at a profit.
That's why people invest, and by the way, never fall in love with an investment.
However, my personal opinion of his lack of character will not change, as he has continued to display the abject lack of a fundamental good faith relationship with the people who have made this Company possible.
Collorafi has shown ZERO personal or professional integrity in the manner in which he has conducted himself and that, to me, portrays him for exactly what I believe he is, a cheap hustling user who has lucked out in sucking some money from a system that should police itself much more efficiently.
Thanks TP...Much Appreciated!
As I read through them, it's apparent that the dialogue here is much more contemporary and certainly more plentiful.
One more step on the difficult quest for knowledge....LOL!
Any Info From Collorafi Ever...???
Has anyone on this board ever received any information from Collorafi that can be objectively substantiated in any way whatsoever regarding:
The reason for the A/S increase
The "new building" progress
Financial information
The $80 mil "contract(s)"
The promised transparency
Production information
What has he done that he said he would do, besides push puff update crap out about business trips (with no dollar details) or his shop dog?
Is there any reason at all to take him at his word?
And when did "hoping" become a strategy, anyway?
I have had no success as of yet in securing a copy of the Revenge articles of incorporation, including the bylaws, which may serve to give us some leverage vis a vis the State of Indiana applying some appropriate corporate regulatory pressure. I am still working on it, however.
I plan on speaking with the editor of the Decatur Democrat (local paper there) Wednesday of next week in an effort to apply additional stimulus to Coloraffi performing per his word, as our efforts in dealing professionally and respectfully with him heretofore have been arrogantly ignored.
EDWARD.............
Still waiting on data re: names / url info of the other boards discussing RVGD.....
Please advise per my message yesterday
Thanks in advance for your help
Just Perfect......!
The sad part, ThinkpadX60, is that the “post” was so close to the hollow and off the point posts that we've been getting that it's scary.
The Corvair Spyder part was over the top right on! It fits right in with the GTO (40,808 sold in the US, 2004-2006) (http://en.wikipedia.org/wiki/Pontiac_GTO#cite_note-SMH-1
Of some interest is the fact that during its three years of production the Corvair Spyder sold 38,808 vehicles, (per http://corvaircentral.com/production_totals.asp) strangely similar to the GTO numbers. Both had three year production runs and both sold poorly (based on GM projections, anyway).
So when you picked a car for Peter to be tooling up to mod, you picked an almost absolute parallel, just 44 years apart.... this just gets weirder and weirder by the day… this was just a great post….
Well done……!!!
Hello Edward.....!
It's extremely nice to hear about those rumors on other boards. If you'd be so kind as to point us toward them, I'd like to see what all they have to say, as I'm sure many of us here would as well.
And we're flattered that you came over here with your 1st three IHub posts on the RVGD board......Welcome, and thanks for the input, I'm looking forward to seeing those boards!
Thanks again!
C'mon eye_ater.....!
they were ignored, just as my prior calls and emails were.
This wasn't a trick question at all.... it's situation status quo.
When was the last time that we as shareholders were supplied with one truthful definitive answer to one simple objective question, i.e.?
Shares outstanding?
The "reason" for the A/S increase?
Production information?
Financials?
The new building fiasco?
The often promised and not so far delivered transparency?
The moderator job on this board is indeed a thankless one, because unlike what goes on in the real world of business, RVGD has made the choice not to communicate. You're in a rough spot and I sincerely appreciate the efforts that you have to go through simply to try and maintain. You're a much more patient man than I, and despite getting it from both sides, you've hung in well past my personal threshold of pain.
I for one can't think of many good upbeat reasons for Collorafi's silence, but I can certainly conjure up some train-wreck scenarios for the blatant arrogance and indifference that he displays.
Peter's email Response F/U
He responded in the same manner to me.
I preferred an answer in writing for all the reasons that we have come to know so well, but, in the interest of making what I perceived to be a positive gesture, did call him.
Would anyone like to take a guess about how my three calls were handled?
Oh, c'mon, somebody should take a guess........!
Ok, then, I'll assume that we all know that answer.
Pennimon...Great Characterization..!
The PR information semi-linking FF5 and Revenge was posted as a response to my question on the GTM board over there on June 17th of this year.
My concern had to do with whether or not anyone had ever heard of such a relationship, and the sole response along those lines came in a posting of Peter's PR from that time period by jhilb, who's quite a knowledgeable and prolific contributor over there. He obviously did some searching to come up with Peter's comments, which was very kind of him.
Your take on the make up of the GTM board is 100% spot on. These are guys who are actually the pioneers in the assembly of the GTM, and what they've gone through has been significantly more difficult and infinitely more complex and costly than suggested in any of the FF5 GTM literature.
They seem to be dedicated "motorheads" (and I say that in the most complimentary of ways, because they sure do know their stuff) and are part of and indeed propagate a certain cult of elitism when it comes to getting these babies put together and functioning.... they're at ground zero and may not extend as cordial a welcome as one might think, as many of them are in the business of putting the GTM's together, and whether it be just peripherally or not, human nature would suggest that a "Johnny-come Lately" like Revenge would be nothing but competition and constitute a long term historic dilution of their reputation, heroic efforts and results so far, which have been extensive and meaningful.
My thinking since day 1 has been along the lines of some merger format (even to the contemplation of a reverse acquisition, as indicated in my post #88941) that would enable both parties to do what they do best, and hopefully remove the dreadfully inadequate CEO from Revenge and let him do what everyone seems to indicate he does best, and that's do cars without having to worry about the business aspect of things, which has been a catastrophe, at least in terms of shareholder's value, and a continuation of past business failure, given the validity of Redback's recent detailed post #89300, (which I personally happen to believe in full).
At any length, great post!
Common DOJ Legal Phraseology...
This phrase is common to many if not all DOJ prosecutions of securities fraud cases, among others.
For some additional interesting material, copy the entire phrase into the Google search window and check some of the kind of secutities cases that absolutely are being prosecuted.
Local Decatur Newspaper Anyone....?
The Decatur Daily Democrat
141 S. Second Street
Decatur, IN 46733
Phone: (260) 724-2121
Fax: (260) 724-7981
E-mail: comp@decaturdailydemocrat.
Meet the staff
Ron L. Storey Publisher publisher@decaturdailydemocrat.com
Bob Shraluka Editor bob@decaturdailydemocrat.com
Jodi Lippert Business Mgr. jlippert@decaturdailydemocrat.
Do inquiring Decatur minds want to know???
A "Think About It" Scenario.....
Let's figure that Peter got in way, way over his head, first on the stock side with the Carnes dealings and secondly on the production side when his optimism in terms of requisite resources and timelines proved to be a disaster. Worse, it's been a train-wreck throughout in terms of what he said and what's come back around on him like a boomerang from hell, and has all the potential in the world of causing him significant civil and even possibly criminal problems, particularly in today's markets.
Peter needs an out. He needs a way to keep the world off his back and the wolves away from his door, so perhaps he's presented with a scenario like this from an "enlightened" third party who has experience in the slippery world of penny stocks (speaking very very generously about the penny part, of course).
First of all, Peter gets more treasury stock authorized; he's going to need a big number in there to pull this one off.
He then does the "impossible", and reverse splits the O/S on a let’s say 1 for 1000 share basis, thus leaving approximately 1.5 million shares outstanding (@ $.025?) (assuming that the entire "old” 1.5 billion A/S has all reached the float, which, of course we don't know for sure), with the billion new treasury shares still sitting there.
The next step would be to initiate a reverse acquisition with a company with which he sees a logical synergistic relationship, (which translated loosely, means a comfortable and potentially highly profitable place for him to land, g'day!) which, solely for the sake of conversation and with absolutely no factual basis whatsoever, we'll call "Newco 5".
Revenge "acquires" Newco 5 for let's say 100 million of the new billion treasury shares, (or whatever number works, based on the valuation schedule adopted, but it really doesn't make any difference, because Peter owns all the voting shares and can make the deal for book value or goodwill or whatever he can agree to with Newco 5), and Newco 5 emerges as the surviving entity, with the reverse split RVGD shareholders and the current Newco 5 shareholders all owners of a spanking new Company.
Hypothetically, this new company is already profitable, and the "old" Revenge becomes, let's say (again) just for the sake of conversation, the dedicated assembly and advanced design entity / division of the mother Company, Newco 5.
Newco 5 can then take a pressure free year to age it's stock, get it's ducks in a row and brag to the market place how they've done a seamless synergy based acquisition that will add, oh, let's pick a number at random, how's about $80 million a year to their gross sales, while they work on whatever kind of vehicles that the market wants from that point forward. They can do a tidy little secondary offering with all the old RVGD unpleasantness behind them, and have real numbers, a real Company and real PR's to present to the investment community, all for a modest cost in the overall scheme of things.
In this scenario, Peter wins big (the methods in which his compensation can be structured for this maneuver are endless) and gets a lot of upset shareholders off his back as he can hold both palms in the air and say "I put us into an industry leader that has the wherewithal do absolutely everything I ever said we would do...my shareholders are extremely lucky and my conscience is more than clear". Tell me you couldn't see that phrase in a gracious parting Peter Coloraffi PR!
Peter Wins…..
Newco 5 Wins…..
The current RVGD shareholders get the royal shaft of course, which they’ve been prepped for, lied to and scared with for the past several months as the share price evaporated and they looked at possible quintuple zeros. (just a metaphor, relax) Under this format, they’d at least have a piece of something, with the only problem being the term that they’d be holding the shares to make a little, which might be long down the road, but not the 5 zeros, they’re looking at on the horizon right now……hopefully
Then they'll all sit back and put another shareholder on the barbie.
There are lots and lots of ways to address something like this, but the more you look at it, don't you think this would make some good sense to Peter?
Don’t you think he’s tired of all this grief?
Think about it……………and have a lovely evening all!
New Level of Weird....!
We have claims of Revenge Pontiac G8 orders...fully unsubstantiated and long subject of well deserved ridicule
We have claims of unpaid creditors.... and office visits so concerning that they ask us to call the Mayor for confirmation.... does Revenge owe the freakin' Mayor.... how did he get dealt into this fiasco, anyway???
We have wrong names being thrown around for wrong Mayors
We have major "secrets" about Peter and his dealings that are obviously too secret to be discussed in public
We have claims of financial malfeasance in Australia
We even had mentions about Subaru last week for God's sake
What we DON'T have, from any one of the above, and of course Mr. Peter Collorafi (the $80 mil contracts, the building moving along, often promised transparency and all the other various and sundry BS we've been fed), is the fundamental and very simple "Verifiable Truth" about much anything except the “four cars commonly parked there” which has the ring of truth about it (Peter, his kid, his wife and one other worker, which, based on how long this is taking, seems about right...and the source has been a constant in good information with no axe to grind)
Peter Collorafi may be the financial devil incarnate for all we know, but one thing that we absolutely 100% DO know is that until somebody presents something along the line that is a single "evil Australia & creditors" verifiable fact or statement about the guy (who I don't happen to like, actually), we will continue to bump around in the dark.
This just gets stranger by the day….
Why can’t they just tell us the truth…?
Dog...Thanks!
I would assume that nobody would be stupid, contemptuous of their shareholders literacy (or intelligence) or outright arrogant enough to blatantly deviate from the UOP.
It's common to use enough vaguery in those things to do an acceptable CYA job.
It'll be interesting to see how this one plays out won’t it!
Has anybody gotten a kiss yet?
No Building Plans Ever Formally Submitted....?
Case in point regarding the ever increasing lack of credibility from Peter Collorafi.
The more we learn, the less we seen to actually know.
Question: Was there a formal "Use of Proceeds" memorandum or section within the Reg D., and did it address the new building? I've written the SEC for a copy, but thought that someone on here might know.
Time Requisites Not The Point....!
The amount of time and resources that Peter has to spend getting the GTM to market in an OEM configuration isn't, in my opinion, the point at all.
Mr. Peter Coloraffi's fundamental credibility as the spokesperson, CEO and operator for the Company that we provided him with is the point.
The production timeline isn't what we were told it would be.
The building isn't happening as we were told it would be.
The transparency isn't happening as we were told it would be.
If what he has to go through to get a vehicle to market is surprising to Peter in it's time and demands, then he's a poor excuse of a CEO, because he's the one who's supposed to know about the process, just as he has represented to us.
He's supposed to be the expert.
With all of his "connections" in the automobile industry, it appears particularly disingenuous of him to infer that what he's encountering is coming as a big surprise.
He's undertaken an extremely time consuming and resource depleting endeavor, as the folks at Ultima and Tesla can attest. If he's surprised about it now, then we're all in big trouble. If he was less than forthcoming to us regarding his timeline, then his track record of impaired credibility remains a constant.
I for one would certainly appreciate knowing what's going on instead of being expensively kidded along, which is certainly how it appears right now.
For the umpteenth time, don't we deserve the whole truth from the Company?
Bush....RVGD Price....?
Wha....?
Didn't Pennisi's Buy HDT From Peter...?
As I recall, when Peter Brock had his falling out with Holden, Peter bought the company. I don't know what Peter did with it, but if memory serves me, he (and maybe some family member) operated it for several years and sold out to the Pennisi brothers who ran it for 13 or so years before selling out in 2007 to Peter Champion.
They would certainly seem to be excellent informational sources.
"Proof" not an RVGD strong suit....!
There's not a lot of "proof" as it is commonly referred to emanating from the Revenge offices.
At this point, pretty much anything regarding the $80 mil contracts, production numbers, financials the new building that the Reg.D was done for and the fundamental promised transparency are all in the "trust us" category, and our options are to hang in or not.
I'm hanging for some specific reasons, but it's virtually impossible to apply normal DD standards in the evaluation of this Company due to their fundamental lack of communication efforts about much of anything besides vague and very general information and pics of the shop dog.
Their credo throughout has been "we don't need to show you no steenkin substance" and we're in a take it or leave it position.