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You all Nascar folks is Mayfield a good driver with a bad team or does Mayfield stink?
Mountain you write some long interesting chiat, good job IMO
Looks that way to me
gravy agreed 100% we got screwed
PDVP can SMMW be NEXT?
That seems to be the MO
we miss you on the Fact or Fiction board, buy a membership, if you dont want to or whatever myself or Damage has offered to buy you one.
Ibelieve they are going to raise mone in the private placement market, and they have said they were going to do that with the remaining A/S at 1.00 per share so my guess is they may give a discount to the buyers as the public shares are at .38 or something.
Posted on the PDVP board:
Tell me this wasn't Surfer Boy's plan all along.....dilute, dilute, dilute, run away. Looks like the scam was well planned.
Note the bold section.
________________________________________________________________
IN THE CIRCUIT COURT IN AND FOR MARION COUNTY, FLORIDA
CIVIL DIVISION
WAHOO FUNDING, INC., a Florida corporation,
Plaintiff,
v. Case No. 07-757-CA-G
JIM MCGINLEY and LAURA E. ANTHONY,
Defendants.
_________________________________________/
PLAINTIFF'S EMERGENCY MOTION FOR TEMPORARY INJUNCTION
Plaintiff, WAHOO FUNDING, INC. ("Wahoo Funding"), through its undersigned attorneys, pursuant to Fla. R. Civ. P. 1.610, moves this Court to enter a temporary injunction enjoining and prohibiting Defendant, JIM MCGINLEY ("McGinley"), from issuing any more stock in Podium Venture Group, Inc., f/k/a Annapolis Capital Holdings, Inc. ("Podium") pending this Court's determination of the rightful owner of and party entitled to control the shares in Podium that are the subject of this pending litigation. The grounds for, and the substantial matters of law intended to be argued in support of, this motion follow.
1. Wahoo Funding filed its Complaint in this action on March 23, 2007. McGinley was served with the Summons and Complaint on March 29, 2007. McGinley has not filed any pleading or appearance in this action to date.
2. In its Complaint, Wahoo Funding seeks, among other things, declaratory relief in connection with the ownership and control of 23 million shares of preferred stock in Podium (the "Securities") that it agreed to sell to McGinley under the terms of a Stock Purchase and Sale Agreement (the "Sale Agreement") and Escrow Agreement, each dated as of July 25, 2006. Pursuant to the Sale Agreement, McGinley agreed to pay the sum of $200,000.00 to purchase the Securities from Wahoo Funding and to deliver a Promissory Note in that amount (the "Note") to Wahoo Funding. The parties also entered into an Escrow Agreement that provides that Defendant, Laura E. Anthony (the "Escrow Agent"), will hold the Securities in escrow pending full payment of the $200,000.00 to Wahoo Funding.
3. While Wahoo Funding tendered the Securities to the Escrow Agent, McGinley never delivered the original Note to Wahoo Funding. Moreover, McGinley has not paid the full purchase price for the Securities to Wahoo Funding. The Escrow Agent continues in possession of the Securities. Pursuant to the terms of the Escrow Agreement, the Securities are collateral for McGinley's obligation to pay Wahoo Funding the full purchase price under the Sale Agreement.
4. Because McGinley has not paid or delivered the agreed consideration for the Securities, Wahoo Funding requested the Escrow Agent to deliver the Securities to it but she is unable to comply with that request without a court order under the terms of the Escrow Agreement since McGinley, upon information and belief, notified her that he disputes Wahoo Funding's rights and entitlement to the Securities. As a result, Wahoo Funding filed its Complaint for declaratory and other relief with respect to the Securities. In particular, Wahoo Funding seeks a declaration that it is the rightful owner of the Securities and entitled to have the Securities issued in its name for purposes of controlling Podium.
5. Despite his failure to pay for the Securities, in late 2006 and early 2007, McGinley caused Podium to issue and sell additional shares of stock in that company to investors. Indeed, McGinley issued shares of stock to himself and others as recently as February 1, 2007 without the consent or knowledge of Wahoo Funding. And, despite the uncertainty over the rights to and ownership of the Securities, and notwithstanding the pendency of this action, Wahoo Funding has learned that McGinley is planning the imminent issuance and sale of more stock in Podium to investors. McGinley's prior sales of additional shares of stock in Podium has diluted, and his plan to issue and sell more shares will continue to dilute, the value of the Securities, the precise subject of this action for declaratory relief and the very collateral for the obligation of McGinley to Wahoo Funding. For that reason, Wahoo Funding requests an emergency temporary injunction prohibiting McGinley from issuing and selling more shares of stock in Podium pending this Court's determination of who is the rightful owner of and party entitled to control the Securities. An injunction on those terms will simply preserve the status quo until the Court can consider and determine the merits of the present controversy and dispute between the parties as it relates to the Securities.
6. Wahoo Funding is entitled to a temporary injunction as a matter of law. First, the Affidavit of Richard Astrom, the President of Wahoo Funding, establishes that Wahoo Funding will suffer irreparable harm if McGinley is not enjoined from issuing and selling shares of stock in Podium during the pendency of this action. Specifically, the issue before the Court in this action is ownership and control of Podium through ownership of the Securities. The continued issuance of stock in Podium will effectively negate control because of the dilution issuance causes. Secondly, the Astrom Affidavit demonstrates that there is a substantial likelihood that Wahoo Funding will succeed on the merits as McGinley has failed to pay for the Securities, or, alternatively, there is a failure of consideration for the Sale Agreement and, therefore, the Court is likely to find that Wahoo Funding is entitled to its collateral, namely, the Securities under the Escrow Agreement and/or has a vendor's lien on the Securities for the unpaid purchase price. Next, Wahoo Funding does not have an adequate remedy at law as money damages are insufficient to compensate Wahoo Funding for McGinley's failure to deliver the Note, consideration for the sale of the Securities under the Sale Agreement, and the loss of control of Podium through McGinley's continuing dilution of the value of the Securities. Lastly, consideration of the public interest weighs in favor of granting a temporary injunction as the restraint against future issuances of stock in Podium will preserve the current value of the Securities, namely, control of Podium. Accordingly, Wahoo Funding has satisfied the legal requirements for and is entitled to entry of a temporary injunction to preserve the status quo as a matter of law.
7. Wahoo Funding requests that the Court set this emergency motion for immediate hearing upon notice to McGinley. Wahoo Funding is ready, willing and able to post a bond, if required, in an amount the Court deems proper, conditioned for the payment of any costs or damages that McGinley may sustain if he is wrongfully enjoined.
WHEREFORE, Wahoo Funding, Inc. requests this Court enter an order temporarily enjoining and restraining Jim McGinley from, and any other person or entity who has been or may be hired or retained by or for him for the purpose of, issuing and selling any shares of stock in Podium Venture Group, Inc. during the pendency of this action, and for such other and further relief as is appropriate.
Respectfully submitted
ARNSTEIN & LEHR LLP
By: ______________________________
Robin S. Trupp
Florida Bar Number 314528
W. Patrick Ayers
Florida Bar Number 615625
302 Knights Run Avenue, Suite 1100
Tampa, Florida 33602
Telephone: (813) 254-1400
Facsimile: (813) 254-5324
Attorneys for Plaintiff
Certificate of Service
I CERTIFY that a copy of Plaintiff's Emergency Motion for Temporary Injunction has been furnished by overnight delivery and regular U.S. mail to Defendant, Jim McGinley, _______________, Portland, Maine _____, and to his counsel in Maine, Lee H. Bals, Esq., Marcus, Clegg & Mistretta, P.A., 100 Middle Street, East Tower, Portland, Maine 04101; and by U.S. mail to Defendant, Laura E. Anthony, 330 Clematis Street, Suite 217, West Palm Beach, Florida 33401, this ___ day of April, 2007.
________________________________
Attorney
13395_1
Ironic but since Asstrom is so experienced I guess he knew what Jim was doing unreal
That pretty much tells the whole story to me, he was selling/diluting shares all the while and didnt pay for the shell. According to that it seems to me that even ASSTROM the crook was trying to stop Mckinley from diluting so IMO Jim was FOS and took whatever money he could and screwed everyone along the way knowing exactly what he was doing. JMO FWIW
How can we get the court order and find out the real truth of what happened here, would we go to the court and get it antone know?
Well I guess at this point all we can do is hope for the best, what ever that might be. GLTA
k9 I think the business plan was great, the magazine was slick a nice new surf shop opened up I know Jim loved what he was doing but why hurt us shareholders who supported his dreams, I am pissed but I guess what hurts the most I for one like many others believed in Jim, he served his country had a dream and seemed to have a clear vision and now were stuck with the crook ASSTROM.
gorbec you are right, IMO we would not have gotten screwed like this if Jim paid and got rid of Asstrom we would still have our assets and who knows Jim may of built a nice good company here, now we are stuckholders with POS ASSTROM in charge, what a shame.
RJTrotts very well said.
Shame we didnt make todays Indy race would have been some good exposure as this is a biggie today.
Sorry board just venting as I see whats left of our investment/gamble going down the toilet tomorrow I hope not but with Asstrom at the helm now I dont hold out much hope.
I am just plain pissed off here we got plain out fuked, and I am going to make waves I lost $$$$$ here and I believed in Jim and now as you say it looks like a pre planned scam. IMO
02 we shareholders bought a company the purported to have a magazine a surf shop and a online clothing store (enrino) plus it was announce another store to be in Boston and now we have nothing but a shell if thats not fraud I dont know what is. JMO
Agreed 100% is pretty easy to find out about Asstrom and what he is.
And another thing I find strange Jim said he was changing the T/A never happpened, Jim said that the Magazine deal was a done deal with SMMW never happaned, Jim never reported any kind of revenue numbers on and on it went, the more I think about what transpired the more it stinks to high heaven and Jim is right in the middle of it.
Well if Jim didnt know Asstrom then thats his fault for not doing his DD before buying the shell, I dont buy it because remember folks why this happened Jim didnt pay for the shell, if he did this would not of happened, I wonder if good old Jim boy didnt sucker everyone take the money and not pay for the shell knowing all the time what he was doing. One call I can tell you is that I will be speaking to my Lawyer tomorrow to see what if any legal rights I may have in this rip off. GLTA
Again you present distorted facts, Jim bought a block of prferred shares (30 M or so) that gave him control of the company. Jim did not pay for those shares, while Jim didnt pay for those shares he was selling common shares in to the market to us. Asstrom sued for non payment and I guess he won and got the preferred shares back that Jim didnt pay for hence where we are. With Asstrom at the helm and a company with no assets. Its like Jim bought the shell on consignment raised money didnt pay for the shell gave it back to Asstrom and kept the money he raised (ours)and then went home with free money and us shareholders left with not what we we sold.
My guess is they may not be using all of them just a guess
Thats correct he didnt make it, but I didnt watch what happened with the car anyone know?
Yea it does seem that way.
Why do you think she did that?
Maybe when sony gets out of jail he can ask if they can make it free again.
oh ok so only members can post here now, why did they do that? the board was building.
If so how do you find that out?
Do we know for sure that its a premium board now?
Why, nobody is really that bad here.
Me too maybe asstrom will resell the shell to a good business (and Jim had a nice business going) like his and the guy will pay for the shell and get us going again. sorry folks just venting as I am pissed at Jim for giving back the shell and asstrom just suks.
What dont you get here Jim is responsible here, IMO Asstrom couldnt get the shell back if Jim paid him so what happened with all our money?
We shareholders are the losers here, and Jim IMO could have and should have fixed this so we the shareholders didnt get screwed and that was his job as the CEO, instead we (shareholders) got shafted.
Thats Bull all he had to do was pay for the shell, what happened to all us shareholders money? We got nothing Asstrom has his shell and Jim has the assets that he bought with our money and we have nothing so that is pure BS. IMO
Really that stinks can we fix it?
I didnt watch it what happened?