is...not in
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
fliier, if you are really interested in people responding using rebuttals instead of attacks... Then this link might be helpful for you:
http://answers.yahoo.com/question/index?qid=20090212000640AAr5Fjf
And in response to your last question: I don't think you are necessarily seeing things more clearly than everyone else... Just because we aren't talking about things doesn't mean we haven't discussed those things in the past... For the most part, I don't think anyone is happy about the current state of the company, and many of us are just quietly waiting for an acceptable exit point.
Aletheia, by your questioning of fliier, even you acknowledge that people should have at least some accountability for the "information" they provide.
I have become extremely annoyed by people coming here, making accusations, and then defending those accusations with some cowardly bullshit like "a deficient mind can figured it out" or "this is self evident".
I'm sure you agree with me on this! People who can't backup their assertions, and who say shit like this are USUALLY LYING!!!
Now, you've said over and over that the documents verifying your statements are publicly available... And I assume that you have actually read these publicly available documents since you claim to be referencing them... Well, I'll be honest, I have no idea what documents you are talking about because I haven't read anything stating that Vertility vendors have not been paid. All I'm asking is for you to provide us the links to these documents. I'm sure everyone here would be interested in links to these documents.
Since these links would really help your case, I really don't understand why you are refusing to produce them... Unless you've made the whole thing up.
Now again, please, pretty please, pretty please with sugar on top, please give use the links to these documents and quotes of the passages you are referring to.
Thanks.
Aletheia1, you have NOT done the ONE simple thing that is expected of you!!! DO NOT act like you have!!!
Do I need to remind you that YOU are the one that chose to reignite this battle!
YOU are the one that wanted to redeem yourself by proving to us that you weren't lying about the vendors.
So DO IT! It isn't that hard! Just provide the quote and the link! This is your chance to start showing some integrity! This is your chance to start living up to your name! http://en.wikipedia.org/wiki/Aletheia
This is NOT too much to ask for. Read through my posts, look at the number of times I have used quotes and links to support my accusations? THIS is how people gain credibility!
If you cannot do this, than admit that you were lying, and we will drop it.
But again, YOU were the one that wanted this battle, so don't get pissed at me for giving it to you!
Aletheia1! Please! Quit rambling and just provide a quote and a link verifying your statement about the vendors! That's all I want! A quote! And a link! Nothing else! This shouldn't be this hard!
Thanks!
Aletheia1, don't worry about my attempts to discredit you... You were (and are) doing that to yourself. If, at the time, vendors were being stiffed, then please inform us as to the specifics. You NEVER specified what vendors you were talking about, or to what extent they were being stiffed. Even now I don't know of anything that conclusively proves that. If I'm wrong, please educate me. What direct supporting material do you have? And don't start pulling this "self evident" bullshit again! We still don't know exactly why the CFO left, or what happened with Innovation Solutions, so don't act like that proves any of your accusations... You know, you should just stick to asking your suggestive questions. You were much better at those.
Alethia1, now you say that your statements with the vendors were mere "speculation"... But at the time, you were making those assertions as if you knew them to be indisputable fact!
Come on, you know what you were doing, please don't act like you don't... At this point you're just going to confuse fliier, who I suspect is genuinely baffled by this concept.
By the way, whatever happened back then to make you suddenly stop posting? Did you really get a cease & desist?
fliier, just for the record, I have NEVER suggested that you are Lisa! Please, please, please, at least TRY to get your facts straight!
And if you want to know what strikes my nerve... It is when people on this board pretend to know about things, which they clearly know nothing about! Much of what you say, you say with absolute certainty! And now I know for a FACT, that at least some of your assertions are absolutely false! And that trashes any credibility your other assertions might have!
As far as Aletheia1's statements... I don't know enough to be able to agree with or refute most of Aletheia1's statements. Though, I do know that Aletheia1 is not above lying (or at least SEVERELY stretching the truth) to further his agenda (as was made clear during our exchange in September). Therefore, I am highly skeptical of anything Aletheia says, though I do enjoy reading his posts.
fliier, is it the lack of education? Is it the inbreeding?
What is it with you Tomassonis (and defenders of Tomassonis) that makes you unable to grasp the concept that preposterous assertions require EVIDENCE???
Here is more info on the tea-bagging conservatives' decision to cancel the ecoENERGY Program... Because they are ALL about jobs, I'm sure!
The Conservative government has cancelled its $400-million ecoENERGY Retrofit program ahead of schedule, a move eco-building experts and environmentalists argue sends a dismal message about the country’s commitment to energy-efficient building.
Natural Resources Minister Joe Oliver quietly announced Sunday that the Tories will no longer accept new registrants to the much-lauded initiative, which encourages building and home owners to retrofit old roofs, windows and insulation with eco-friendly alternatives.
The government was expected to close registration March 31 but, citing its accomplishment of funding 250,000 registered homeowners, decided to end it ahead of schedule. The program, which launched in 2007 and was renewed last year, offers Canadians up to $5,000 to make their homes more energy efficient.
The announcement comes amid rising scrutiny of several unexpected policy moves, including looming changes to old age benefits.
“I’m shocked and surprised,” said Jeff Murdock, vice-president of Building Insight Technologies, an eco-energy audit firm in Ontario and British Columbia. “It doesn’t make any sense — for the last couple of months, governments across Canada have been talking about securing Canada’s energy future.”
According to his math, Murdock, whose company belongs to the Save ecoENERGY Coalition, a national association of environmental organizations and eco-energy builders, said the government has allocated only $192 million in ecoENERGY Retrofit grants — less than half of the $400 million that was promised in the June 2011 budget.
He said the cancellation not only hurts retrofitting businesses, but also affects homeowners that planned to register for the program in the next two months.
Homeowners currently registered can receive post-retrofit evaluations and apply for grants until June 30, 2012; the retrofit renovations must be completed by March 31.
Andrew Brown, of Greg Brown Construction, said his Haliburton-based geothermal heating company will likely see a drop in business because of the government’s decision. He suggested an absence of grant funding for home retrofits, which can be expensive, will push people to look for cheaper, less environment-friendly solutions.
The Tories have called the premature end to the program a financial decision.
“The decision to provide time-limited funding demonstrates prudent management by our government to ensure that we can return to balanced budgets during this time of fiscal restraint,” Oliver said in the release.
But critics point to numbers that show grant handouts to be relatively inexpensive, with the average handout being about $1,200 per homeowner.
“They’re claiming fiscal prudence,” said Todd Downey, vice-president of operations at Energuy Canada, a Brantford-based energy auditing company. “It doesn’t make any sense.”
Tom Rand, senior clean tech adviser at Mars Discovery District, said by cancelling the retrofit program the government has silenced a much-needed national discussion on eco-efficient building.
“The federal government supporting eco-energy validates to the public that it’s important to do this work,” he said. “By cancelling eco-energy initiatives, the government has decided not to help that conversation move along.”
http://www.thestar.com/news/canada/politics/article/1123966--federal-government-pulls-plug-on-ecoenergy-retrofit-program
Gabe, it's been two days and we are still waiting for you to defend your position. Do you stand behind your statements or not?
Some of your statements were downright preposterous and therefore require at least something to support them. Do you really have nothing?
I swear! Dealing with the management of these companies is like dealing with children! Are you not even able to answer my one simple question? My question was not unreasonable!
My question was: "If things such as the Joint Venture, the American Sales rights, Newlooks ownership in shares, etc. are so inaccurate, then why is it that you waited until now to bring them up?"
And in case my question confused you, let me be more clear:
On April 21, 2011, WLSA published a PR stating: "Vertility Technology Corporation has acquired an exclusive and perpetual license to manufacture, market and sell all products currently manufactured by FANOTECH (...), and that this license will extend throughout the United States of America"
Starting on July 19, 2011, NLI's filings repeatedly stated: "On February 18, 2011 the Company executed a second addendum to the terms of the June 6, 2010 letter of intent. This addendum provided the Company with an immediate ownership of 10% of Fanotech Manufacturing Group"
If these statements were inaccurate, why didn't you publish clarification immediately following these claims?
Why didn't you publish clarification in May 2011, June 2011, July 2011, August 2011, September 2011, October 2011, or November 2011?
Why is it that you waited until your Christmas letter, before you finally denied the existence of these deals?
Do you not see that you have zero credibility right now? And then you expect us to blindly abide by your demands? Seriously?
By the way, the information in the GoDaddy link I provided got changed to a domain-by-proxy shortly after I posted it... But there are other sites, which are a bit slower to update:
http://www.networksolutions.com/whois-search/fanofax.com
And I think that especially BECAUSE of the current situation with fanotech, Simmonds SHOULD NOT be pretending he is someone he's not on chat-boards! It is things like this that make people question his judgment. Enough with the game-playing, just start acting like a CEO. And that includes PROOFREADING the spelling and grammar in ALL written exchanges!!! Your grammar is cringeworthy Mr. Simmonds.
Registrant:
John Simmonds
3565 King Rd
King City, Ontario L4N 7X9
Canada
Registered through: Go Daddy
Domain Name: FANOFAX.COM
Created on: 31-Jan-12
Expires on: 31-Jan-13
Last Updated on: 31-Jan-12
Administrative Contact:
Simmonds, John matthewcsimmonds@hotmail.com
3565 King Rd
King City, Ontario L4N 7X9
Canada
(905) 833-9845 Fax --
Technical Contact:
Simmonds, John matthewcsimmonds@hotmail.com
3565 King Rd
King City, Ontario L4N 7X9
Canada
(905) 833-9845 Fax --
Domain servers in listed order:
NS55.DOMAINCONTROL.COM
NS56.DOMAINCONTROL.COM
Mr. Simmonds, I'm a little confused as to why you are playing these silly games. Why take down your fanofacts site, only to put up another. And why are you posting here under a fake name?
Are you open to a conversation about the state of your companies at this time? Because I think one is way overdue.
http://who.godaddy.com/whoischeck.aspx?Domain=FANOFAX.COM
I can express my opinion of your new button in three words:
AdBlock! AdBlock! AdBlock!
Gabe, below I have posted Mr. Simmonds take on your partnership. Simmonds put considerable effort into supporting his statements with legal documents. If you have a different understanding, please take the time to refute each of Simmonds' claims and provide your own supporting documents.
Thanks in advance, your effort would be greatly appreciated.
There are many inaccuracies in the statements made by the Tomassoni’s and they relate to events over the last two years. We believe all the allegations made against Fanocorp, New Look and their management teams are not only false, but in some instances libelous. This website has been put together for the benefit of those affected by this ongoing dispute and will tie all of our claims back to third party validation or in many cases, Gabe Tomassoni’s own contradictions under oath.
We agree Fanotech Waste is not bankrupt. It is however insolvent based on its inability to pay its creditors as their accounts become due. The draft financial statements (Exhibit B) dated March 31, 2011 prepared by outside accountants shows a large loss and a significant deficit in shareholder equity. It also has a going concern clause in Note 1.
John Simmonds, (“Simmonds”) who is the financial consultant referred to in the letter of December 15, 2011 circulated to suppliers, customers, employees, and others was actually brought in on November 13, 2009 by Lisa Tomassoni to help deal with a problem with the National Bank of Canada, (“NBC”).
November 13, 2009 was the first time John Simmonds had ever met Gabe Tomassoni or visited Fanotech. Around midday, the NBC visited the Bracebridge facility to advise the Tomassoni’s that their account was being placed in special loans due to default on a number of covenants.
Attached are Lisa’s notes of that meeting and a draft letter written by Simmonds as a response to the NBC. A formal Forbearance Agreement was negotiated on December 9, 2009 and the Company was given until February 28, 2010 to pay off the loan. Contrary to Gabe’s sworn affidavit of October 19th, he was under considerable pressure from the NBC to pay off loans and it was John Simmonds who helped negotiate multiple Forbearance Agreements while he attempted to refinance the business.
It was impossible to refinance the business under Gabe’s leadership due to prior bankruptcies and mismanagement, so Simmonds suggested that the Company be taken public through an entity that Simmonds controlled. After several failed attempts to find a suitable vehicle due to historic losses and problems at Fanotech, we settled on the Canadian listed entity of Newlook Industries Corp.
By May 2010, it was obvious that the Tomassoni’s needed help in reviving the business and that is when Simmonds and Gabe Tomassoni agreed to bring in Bob Cariglia and Ross Hill who both had significant truck manufacturing experience.
Very quickly under the new leadership the backlog went from $1M to almost $10M. By summer 2010, despite the ongoing battle with NBC, the new team managed to keep things going while paying down the loan. When Fanotech started missing Emterra deliveries in October 2010, due to Gabe’s inability to produce at his budgeted cost, which we now understand was a chronic and historical Fanotech problem, the NBC demanded an infusion of $500,000. (Exhibit A)
Gabe, being unable to comply asked Simmonds who set up a new Company named Fanocorp and Simmonds raised $1M of new capital from the management team.
Contrary to Gabe’s affidavit, $500,000 was advanced to Gabe and Laura who in turn loaned the funds to Fanoteh Enviro to prevent the NBC from putting Fanotech into bankruptcy.
Deliveries continued to slip in November and December 2010 and another $400,000 was advanced by Fanocorp in order to pay Fanotech employees and suppliers in December 2010. (Exhibit C)
By the end of December 2010, production costs were severely inflated due to gross mismanagement and all customers were badly behind in delivery, Gabe was removed from production and Renny Bidinot, a member of the new management team was brought in to fix the delivery problem.
Gabe continued to resist Renny’s involvement during January 2011 and finally Simmonds delivered an ultimatum to Lisa to get her father out and let Renny Bidinot run things. That finally occurred and by early February 2011, production was finally flowing, unfortunately too late to avoid massive penalties for late delivery. These issues led to severe penalties and the inability to collect receivables. Despite that, Simmonds brought the TD Bank in to take out NBC in February, 2011, providing Simmonds controlled the finances of the Company. It was a condition stipulated by the TD Bank.
We did our best to mange through the problems, but when we could not reach a final settlement on the Emterra account, TD put the Company into special loans in August 2011.
Simmonds still felt the Company could be saved and on August 19, 2011, he entered into a new Agreement with Gabe, scheduled for closing on August 31, 2011. On August 22, 2011, the Tomassoni family met privately and decided that they would breach that Agreement and terminate unilaterally the binding Letter of Intent.
The so called “missing funds” referred to in the December 15, 2011 letter are not missing at all. They are expenses incurred by Fanotech in 2011 and paid on their behalf by Fanocorp or Newlook.
Furthermore, many additional costs were subsidized by Fanocorp or Newlook including Simmonds’ consulting fees. Simmonds never charged Fanotech anything for his time and effort. Many suppliers and customers along with employees acknowledged Simmonds continued efforts for almost 2 years to save the Company.
While we are still hopeful that the parties could still come together and resolve their differences, it was necessary for these facts to be put forth so everyone involved can see what actually transpired and how Fanotech got into the position it finds itself in today.
Gabe, you said: "Obviously someone does not want you to read this information"...
And I ask... What information? Your post didn't provide any information, just lots of assertions and demands... That's probably why your post was removed.
I'm only asking of you what I ask of everyone... Can you please provide evidence to support your assertions? And if you cannot provide evidence, please don't state your opinions as fact.
And if you are interested in a dialogue, I would appreciate it if you could respond to my questions in post #7027.
Thanks,
asdfghj
Here is the removed text if anyone wants to reference it.
Warning!... This text may or may not have been written by Gabriele Tomassoni, and some or all of this text may contain inaccuracies and flat-out lies:
This posting is addressed to John Simmonds WLSA CEO and founder of Vertility.
The purpose of this posting is to ask you to immediately remove from the site any and all misleading and false references to the Fanotech Companies as follows.
1. Joint Venture. It implies the existence of a joint venture between WLSA (Vertility) and the Fanotech Companies. There is no joint venture in existence past or future. That reference is misleading and should be immediately removed.
2. WLSA owns the American Marketing and Sales Rights. It implies the existence of an agreement between WLSA and the Fanotech Companies. No such agreement was or is in existence. This statement is false and should be immediately removed.
FYI
G. Tomassoni and Laura Tomassoni collectively own 100% of the Fanotech Companies Including Fanotech Enviro, Fanotech Waste Equipment, and Fanocor Enterprises. Not to be confused with Fanocorp Ltd. a Simmonds Company.
Our son Dino and daughter Lisa are an integral and important part of the Fanotech family business and very proud of both. Recently your site has been cowardly used by persons under assumed names (save Brad Herrin) to discredit and ridicule the Companies and all of us and especially Lisa who is definitely not fliier. I would like to ask you and the other users of the site to use the site for business purposes and refrain from personal attacks.
If I may, I would like to suggest that you ask your CEO John Simmonds for more in depth information regarding the other joint ventures. I hope you get a straight answer.
Lastly, I thank you all for your anticipated cooperation and understanding. Should you decide to satisfy your curiosity I welcome you at anytime, my door is always open. I may need a day or two notice, please no phone calls.
Best Regards and Good Luck in all of your future endeavors.
Gabriele Tomassoni
It is interesting that Gabe's message has been deleted! I wonder if it was posted by someone else, without the authorization of Gabe...
Or maybe Gabe just didn't want the job of having defending his position.
It is interesting though... The more volume we get (which all seems to be at the Ask), the lower the price. I wonder why...
Though I'm not too worried, as long as the company keeps pushing forward.
"SoFit" does have a nicer sound and look to it (it makes me think of being So Fit), and doesn't use the tacky and dated "ph" spelling. Though, I did prefer the uniqueness (for Google-searches) of "NowPhit".
If translated from the language "Piemontese", "sofit" translates to "ceiling" in English, which isn't necessarily what athletes like to associate with training. But nobody's going to be aware of that translation .
http://www.logosdictionary.org/pls/dictionary/new_dictionary.gdic.st?phrase_code=4904318
Had they chosen "SoPhit", translations from Hebrew and Greek would have included: "Scout or Guard", "Wisdom or Wise one", and "Shine or Bright".
http://www.hebrewletters.com/item.cfm?itemid=26518
... Sorry, I think I'm just avoiding work
So now we are "SoFit Mobile", not "Nowphit".
More news today and more volume. Maybe you're right on this one.
IAG Announces Development Partnerships
InterAmericanGamingInc. ("IAG" or "the Company") (PINKSHEETS:IAGM) has announced that it has retained Toronto-based Endloop Mobile as its mobile development partner for SoFit Mobile Inc. ("SoFit", formerly Nowphit Operations Inc.), creator of the forthcoming SoFit social gaming platform that empowers individuals to improve their health and fitness. IAG has also partnered with Toronto's Spark Innovations for hardware design and engineering of the proprietary SoFit transmitter and harness components.
"We are excited to announce our partnership with Endloop and Spark," says Marc Askenasi, President and CEO of IAG. "We feel that Endloop's premium brand of mobile expertise is exactly what SoFit needs to be a success." Endloop was named one of the Digital Media companies to watch by Marketing Magazine (September 2011), and has developed mobile apps for brands like Subway, Reactine, and the Rethink Breast Cancer Foundation.
"Spark has over two decades of experience building innovative products for the health and fitness space," Mr. Askenasi says. "They've attained over 200 US patents and worked with brands like Adidas, Burton, and Nike. SoFit is not just a mobile app, there are physical components that complete the platform. To get those right we need a company like Spark to ensure we're constantly innovating the way the mobile software and physical hardware connect."
IAG has also disclosed that Nowphit Operations Inc. ("Nowphit") has officially changed its name to SoFit Mobile Inc. "We had settled on Nowphit before we started working with Endloop and Spark," explains Mr. Askenasi. "It was a working title and at the time of conception it best-represented what the platform was all about. After a number of internal branding sessions and consulting with experts in the creative and branding space, we collectively agreed that SoFit, which is short for Social Fitness, is more appropriate and lends itself to a larger brand strategy that will be illustrated as we roll out the program."
About IAG and SoFit Mobile
IAG is an emerging digital technology company focused on mobile health and fitness. IAG's mission is to build industry-defining businesses through a combination of organic growth and acquisitions.
SoFit Mobile is in the process of developing SoFit - a new social gaming platform that empowers individuals to improve their health and fitness. SoFit products include integrated mobile applications and complementary wireless devices that fuse the on and offline worlds. Products are currently in development and are expected to launch in 2012.
http://ih.advfn.com/p.php?pid=nmona&article=50974770&symbol=IAGM
Gabe, I really appreciate your input here and would love for you to begin a dialogue with us, but I am somewhat put off by your demands since you have no right to demand them.
If things such as the Joint Venture, the American Sales rights, Newlooks ownership in shares, etc. are so inaccurate, then why is it that you waited until now to bring them up? This doesn't make sense and therefore I don't believe these deals didn't take place. We are going to need more proof than just your word. Especially since the court documents say otherwise. Sorry.
And as far as you family goes, I understand it can be annoying to see a guy with the screen name asdfghj suggest that unless she was after his money, there is no logical reason (in his opinion) why someone as young, attractive, and successful as your daughter would ever be interested in someone as old, repulsive, and disreputable as Mr. Simmonds. But the thing is, as annoying as it is, this kind of conversation is protected by the first amendment (and should be expected given the circumstances), and you have no legal right to demand it be shut it down. Again, sorry.
fliier, you might want to read through your own posts before throwing stones...
Brad provides sources and references to support almost everything he says. The only thing you've done here is provide lots of big talk, with absolutely no substance and nothing to back up your assertions.
I also don't like that Enwise is still advertising a "Holiday Promotion" that expired last month: http://www.enwisehomeservices.com/Promotions
Is that company active or not?
zabone,
I can't even count the number of times you've reported that Simmonds doesn't worry (or care) about the share-price... And that I believe!
But has Simmonds ever told you that YOU don't have to worry?
I'm just curious,
asdfghj
Like others have said before... Since the companies we hired to promote the stock are obviously incapable of doing anything, I don't understand why we don't use that money on a stock buy-back plan... At least then the company would have something they could provide updates on.
Even with zero volume, the bid and ask seem to be moving higher.
Wouldn't it be nice if Simmonds could create a Q&A page for WLSA like he did for Fanotech?
We could then go down the list of all our projects and acquisitions, and ask him what (if anything) remains of each.
People have probably forgotten about Enwise because JS made the decision to halt all updates on that side of the company.
Have you gotten word from him as to why he did that? I think that's one big reason investors have been so nervous lately.
For the most part, I don't think anyone here has suggested that they know the "real truth"... Except for maybe you (and sun )!
Why don't you share with us what you "know"...
Unless you are one of those who like to pretend they know it all, while really knowing nothing. Because there seemed to be a surprising number of such people defending the Tomassonis... Seriously!
No kidding, the fact that she was able to con a million dollars out of him only means that he will now have to con an additional million dollars out of us.
And yes... If I had a pool of investors I could scam endless cash from, I could see myself getting conned by her too
I'm left to wonder how much of her interest in him was really an interest in obtaining a million dollars of his cash????
I really don't picture her as being the victim here.
I agree that it's all very sad... But if you remember the girl's picture, I'd say Simmonds was interested in at least some things beyond the girl's company:
http://www.smugmug.com/gallery/17846527_9cPhx4#1364772551_vpVcVP3-X3-LB
Though what I'm still trying to figure out... Is what the hell she ever saw in him:
http://www.smugmug.com/gallery/17846527_9cPhx4#!i=1364771868&k=T3pBdWJ&lb=1&s=A
Here is some of the removed text if anyone wants to reference it:
(37 minutes ago) reality check said:
Who is the idiot posting under seriously? You ask what makes one think Fanotech will go bankrupt? Try the fact that they have sought protection with a trustee to try and make a proposal to the creditors. The company was heading towards bankruptcy well before Simmonds and company got involved. They needed an extension from the courts because the trustee isn't a miracle worker.All it is doing is delaying the inevitable and giving Gabe more time to strip Fanotech Enviro of any assets and hide them in Fanotech Waste. This is exactly the same sleazy way he stiffed his creditors twice before.
I wish the creditors that are being burned would wake up to the Tomassoni's game and petition Fanotech Waste into the same bankruptcy action. How many times are people going to get screwed by dealing with the Tomassoni's ?? I wish the family would take a nice Italian cruise . . . maybe on the Costa Concordia !!!
And don't give them any life jackets !
(2 hours ago) Seriously said:
Seriously John I think you should seek help.
You are not CEO material or even blogger material. Your assessment of who I am is totally off base...I'm done with this site...you are morally bankrupt!
(2 hours ago) j simmonds said:
seriously: obviously family is getting paid. i'm sure you and the rest of the gang are taking good care of yourselves at the expense of other creditors and employees. the last time i tallied up the outstanding debt of the four companies along with the line of credit for the new cottage on rosseau your dad bought for you in june, we're looking at over 10 million in liabilities if you like i can break it down for you. td bank secured 450k
CRA with penalities 2m
unsecured creditors 2.5m
precision 1m
fanocorp 1m
bdc mortgage on bracebridge 1.7m
bdc mortgage on huntsville 800k
shareholde loans 1.6m( includes fanocorp 500k)
unserviced warranties 500k total assets 2 to 3m on a good day agreed? oh yes you have filed for bankruptcy protection. who's drinking koolaid?
(2 hours ago) jsimmonds said:
to brad: i've been trying for 5 months to have that conversation. i asked lisa many times to intercede on my behalf. in december i reached out to gabe directly but received no reply. on december 12 lisa phoned me and asked me to meet her which i did but she really didn't have any purpose for it or if she did she changed her mind. i have been hopeful that we could sit down and reconcile our differences but so far no success. its very frustrating. i've never experienced a situation where people won't at least meet to see if they can resolve their differences, paticularly when there is so much at stake for everyone. for my part there is no ego here. in fact i agreed to step aside if that got a deal done. thanks for the post brad, i appreciate your sage advice.
(3 hours ago) Seriously said:
What makes any of you think Fanotech is going bankrupt? They have paid all of my bills promptly!
Instead of the kool-Aid maybe a dose of reality is called for...
(4 hours ago) Brad Herrin said:
Mr. Simmonds and Mr. Tomassoni:
Gentlemen,
I have read through most of the info provided here. What struck me most was the private email exchange from Aug 22-23, 2011 (less than 5 months ago) between the two of you. It revealed a mutual respect and admiration, as well as a shared vision for the future potential of the merged companies. It also expressed your mutual dissatisfaction in the break down of the deal. I would suggest that after the lawyers sort out the bankrutcy issues and the accountants do their audit, that the two of you check your bruised egos and hurt feelings at the door along with the lawyers, partners, and shareholders and do whatever is necessary to put this deal back together.
Thanks,
Brad Herrin
(8 hours ago) j simmonds said:
so post away. that's what this comment board is for...
(9 hours ago) Seriously said:
Someone who knows The "REAL" Truth about Fanotech and many other issues that have not yet been posted about here...
(9 hours ago) j simmonds said:
whatever you say lisa... three dots are your trademark. if you're not lisa who are you then?
(9 hours ago) Seriously said:
Wrong Again John!
(9 hours ago) j simmonds said:
of course you're lisa its our website. we know who posts.
(9 hours ago) Seriously said:
Not Lisa...
(15 hours ago) j simmonds said:
rob, i will call you today. seriously(lisa) i'm happy to leave it up. just let me know what your wishes are. big al, i will defer to the shareholders on leaving it up or taking it down. nli shareholder: ditto hopefully the fanotech accountant will take me up on my offer
(18 hours ago) Rob F said:
John, did you sink all the Wlsa value into the fanotech deal? I seem to remember talking to you and you saying you would never do what the poulos brothers did....? And what is left now? My investment with you has cost me dearly over the years (more then money as you know) and I am just beside myself with this scenario, AGAIN. Please return my call, I need to know what is left with my investment and what are my options going forward.
Is there a chance to still get Fanotech and get back on track? are there any "plan B"s"?
(18 hours ago) Seriously said:
and wouldn't it also be in Carrie's best interest too John?
(19 hours ago) Seriously said:
I'm sure its in John's best interest to take this site down...I don't think he would like what is posted if we all had our say!!! Isn't that right John?
(20 hours ago) Big Al, said:
I've been shareholder for years. Don't give in John. You're right and you will prevail. Entertained reader was dead on. I assume he's an industry player. Eventually the truth will come out and these people will get their just deserts. I like reading this thread. I now start and finish my day with it. I echo the other shareholder's plea. Leave it up. Let everyone have their say
Thankyou
(20 hours ago) NewLook long time shareholder said:
I have been reading all of this with great interest. It certainly seems the tomasonni family has really destroyed our company along with their own. Why are you Mr simmonds so ready to give up. You obviously believe we as a group have been taken advantage of and it would appear they are all but finished. i urge you to keepthi fight alive for the benefit of all the stakeholders in all the companies. Surely at some point others who have something at stake where will stop assessing blame and rally behind you to bring the various factions together and find a solution where everyone gets saved. iI don't see why you are so anxious to shut down this site as it is now more civil and the dialogue appears to be constructive on both sides and perhaps this will provide a line of communication that will ultimately lead to a resolution.
(22 hours ago) j simmonds said:
to anonymous: new look and gamecorp are theonly ones that come under osc jurisdiction. at least get your facts right before you make accusations. call me tomorrow and we can call the osc together and discuss the situation. i've been in touch with the osc on nli( i've been out of gamecorp for a long time) and there only issue was us not having an annual meeting which we now have ha as of last week. it's sunday night and i can't recall the individual at the osc but i will provide the name tomorrow and you or anyone else for that matter can call him. if you're so confident why are you anonymous? as far as other comments today the entainnment poster really nailed it. i wish i could be that eloquent.
(22 hours ago) j simmonds said:
so let's bring in forensic accountants and review every expense and i will personally guarantee any funds owing to fanotech will be covered. if money is owing the other way gabe hands us the keys and we will fix the business and save everyone from the financial disaster that is looming over us al. let me know if we have a deal. you can pick the independent acountants providing they are a top firm and truly independant
(22 hours ago) Anonymous said:
Fanotech's Accountant is right, follow the money
The OSC is building a case against Mr. Simmonds and all they have to do is follow the path of destruction.
- Fanotech
-Fanocorp
-Copernic
-Newlook Industries
-Wireless Age
-Gamecorp
Just a few of the companies that John Simmonds in the past has been involved in.The one thing they all have in common, is that there all worthless, thanks to Mr Simmonds.
Mr. Simmonds all you are is a criminal, and by putting up this website, I would say delusional.
(22 hours ago) J simmonds said:
So the money trail is as follows: the bank accounts were always in king city. Newmarket is the commercial center and the accounts always were in king city. Yes we we did set up accounts in nov2010 so we at fanocorp could pay suppliers because with the national we would have been shut down without our 500k and the additional 400k of fanotech bills we paid on their behalf. So I offered gab the opportunity to bring in indepdent accountants to reconcile the inter company accounts. I will if necessary dig out that September 2011 email offering that. The point is gab only wants to look at one side of the accounting because when we show the world what we paid on hois behalf along with all of the expenses we incurred, it's over for gabe
(22 hours ago) j simmonds said:
in response to fanotech accountant: first i would like to know which accountnt i'm respondinding to. vern fish the original one that was there the day i walked through the door and was blamed at least by lisa for most of the problems with the national bank along with fred birmbaum her ex husband evan's best friend who did a poor job with the 2009 financial statements that spooked the national bank and created the covenant issues that led to the calling of the loan in nov 2009. or you could be the new guy brought in to find new money to put a proposal together to convince the creditors to approve a restructuring that gets them x on the dollar for their debt. so lets assume you're the new guy because if your response to me was vern it wouldn't have made much sense. so first let's set the record straight on my cfo issues. gary my original cfo who had been with me from the early 90's left me because he thought i was being played by lisa and was being led down a garden path by tomassoni's. it is true he left on bad terms but he was paid out and in hind sight he was right and i was wrong and i should have listened to him. his understudy who he hired with my blessing who was married to my neice took over and i brought him in to fanotech in early 2010. the tomassoni's took to him quickly and gabe wanted him there full time which we agreed to at 75% of his salary. chris lived in barrie so it was good for him as well and he took on the challenge of the national bank with enthusiam and gusto. chris spent the next year dealing with the daily problems of fanotech and finally realized before anyone else that the company was doomed because of emterra. he left in feb 2011, not feb 2010 that is in gabe's affidavit due in part to my reluctance to recognize the disaster that was unfolding at fanotech. so we brought in mark donavan to try to figure things out and instead of fixing things he decided the best strategy was to bankrupt fanotech. if lisa is honest she will admit that it was his comments that really created the break up.
(1 days ago) entertained reader said:
summary of interesting tale
Nov-09 fanotech on verge of collapse with National Bank about to call loan. Lisa asks boyfriend, John Simmonds to help.
Simmonds buys storyline about Fanotech being worth lots of money and sees opportunity to help girlfriend's father retire and make money as same time.
Simmonds goes through series of different deal structures trying to achieve original two goals, adjusting to realization that he has been fed a false tale by people that he should not trust. Tale complicated by bad decision to do an underpriced deal with Emterra who takes advantage of Fanotech and newbies (both of whom believe big sales will achieve their goals) who sign death warrant contract.
Fanotech follows history of poor production quality, late deliveries, out of control costs and shoddy warranty performance to create unrecoverable financial situation.
Banks act like banks. Simmonds makes mistake of taking out National and whole world falls apart.
Everybody blames everybody else.
Fall-11 - walls come tumbling down.
Jan-12 Gabe, in his third bankruptcy situation, will promise the world to everybody to try to buy acceptance of proposal to delay inevitable collapse.
Only question is- Can a new party step in and save jobs and rescue some value for innocent parties?
(1 days ago) Anonymous said:
I'm sure the truth will come out once the lawyer's along with the Ontario Securities Commission look into the actions of John Simmonds.
(1 days ago) From the accountant at Fanotech said:
Mr. Simmonds
I have been watching the nonsense and misrepresentation of facts on this website supposedly designed to get to the truth which in fact contains falsehoods and fabrications of a lot of crap.
I would suggest that the best way to get to the truth is to follow the money trail.
Some Facts
- The TD bank accounts were funded Feb.17, 2011 from the Newmarket Commercial Branch.
- The National Bank was paid out the same day.
- The accounts for the companies Fanotech Enviro, Fanotech Waste Equipment, and Fanocor Enterprises were set up and available for operation on Nov 30, 2010 and with yourself and other employees of your King Office as signing authorities only, no Tomassoni’ s were on the list.
- Your CFO at the time was operating out of the King offices and had ceased coming to the Bracebridge offices on a regular basis.
- During this period questions regarding finance were ignored, avoided or don’t worry about it, it’s being looked after.
- During this period Gabe was busy co-coordinating production activities in Huntsville and on guise accounting was requested not to burden him with any financial issues.
- The Bank Accounts have been reconciled for Fanotech Enviro, Fanotech Waste, and Fanocor Ent.
- The numbers have been reviewed by one or more of the 3 CFO’s of your group that you had and lost during the period, and your corporate audit group and some significant numbers arise that show unaccounted amounts of money that appear to have evaporated from the coffers of the Fanotech operating companies.
- like the $1.3 Million dollars owing by Fanocorp to the Fanotech operating companies confirmed by your CFO and your appointed auditing firm during the audit completed at Mar 31 2011. The draft statements arrived in June and by this time the amount owing had increased to $1.7 Million.
- The CRA were looking for payment of Source Deductions and HST in excess of $1 million and with no resolution.
- Countless cheques were written on the Fanotech operating companies accounts to Fanocorp in amounts ranging from $25,000 to $250,000 with no explanation which in total far exceed $2.7 million.
- Bank statements don’t generally lie and therefore maybe you would be willing to show the bank statements of Fanocorp and reveal were those funds were diverted to.
- I think that the investors in Fanocorp, Newlook, Verility and WLSA should ask for that accounting.
- The CRA should have had approx $1.6 million of it in total.
- Again I say follow the money trail.
Some other issues to ponder.
The Vertility /Newlook companies have gone through 3 qualified CFO’s during the period of involvement with Fanotech who were CMA’s or CGA’s that have left the organization. Why ? Were they uncomfortable with what they were being asked to do or to report? Not only that, other accounting employees have left your employ all of which seem to have been competent employees.
There is a copy of an email from your CFO to you, warning you, that in reference to happenings with the National Bank to take it easy she is on to us. What would that be?
The reason the Vendors of the operating companies were not paid for their input of goods and services must have been due to evaporation of funds or reallocation to something?
By the way we have copies of the famous 2 cheques for $250,000 ea and the payee on both of them is Gabe not Laura.
(1 days ago) Anonymous said:
Nice website Simmonds, glad to see you doing something constructive with your time.
I'm sure the Ontario Securities Commission would applaud your efforts in saving this company and the others you sent down the tube.
(1 days ago) another proud employee said:
Thank you John for for clarifiying the situation! All the best to you in the future!
(1 days ago) j simmonds said:
this site was created for one reason and one reason only. to address the alegations of gabe tomassoni in his december 15th 2011. we provided a forum because this matter has negatively impacted the lives of a great many people. employees on both sides have been badly affected. some have had to sell their houses. investors have lost a great deal of money including the tomasoni's. creditors collectively stand to lose millions and a promising business has been destroyed. the one thing moose said and he is right that there is great demand for waste equipment right now and those opportunities are lost to all of us. personally this has been devastating and is the toughest thing i've ever had to deal with. i also know that's its taken a huge toll on lisa and her family. i'm truly sorry for the attacks on her personally and sincerely wish her the best for the future. we will be taking this website down at the close of business monday. we have had as of last night well over a thousnad unique visitors and during the day and evening we average 300 to 400 people on it at any given time. i have had many private conversations with people who have taken the time to read it and see for themselves that we did not ever intend to put fanotech in bankruptcy and still would liked to work with everyone involved to save the business from further destruction. for myself, i'm moving on to other opportunities and fortunately have other businesses that will be focused on to enhance shareholder value in both nli and wlsa. this has been a distraction for far too long and now we will wait to see how it plays out. it will likely take substantial amounts of money and as usual only the lawyers will win in the end but our legal system, painfully slow as it is, will determine in the end who was right and who was wrong. in the meantime fanotech competitors benefit and the rest of us suffer.
(1 days ago) j simmonds said:
garbage guy: unfortnately that was the way fanotech was run. we tried to change it and would have if aloowed to complete our deal
(1 days ago) j simmonds said:
it wasn't obvious from moose's first post that he is someone who has been directly involved in the fanotech disput from our side. i guess i should have realized it when he brought up vellis solutions. i won't be responding any further to moose's questions since he already knows the answers and can call me directly.
(1 days ago) j simmonds said:
anonymous: i assume this is an employee while the other anonymous i addressed already is not the same person. in 2010 we invested in real dollars almost a million. you as employee also so the eforts of myself who worked tirelessly for free to save the business from bankruptcy if you are a long time employee you also know i wasn't well and it almost killed me when i put off my durgery in december 2010. things went bad when we couldn't deliver early 2011.as employee you decide who's to blame. i've already stated there is lots of blame to go around.
(1 days ago) j simmonds said:
to proud employee:much of what you say is actually true. gabe and his staff have put out good performing products for the most part over the years. unfortunately due to a job shop mantality they product was delivered over budgeted cost and late. we definitely bit off more than we could chew with emterra and miller and the only person to realize that prior to taking on the business was lisa. if we had have listened to her we wouldn'y be in this mess. she also along with dino in february 2011 realized we were not going to meet deliveries and thats why with their agreement we put renny in charge. yes we did sloppy work but we had a gun to our head from emterra and the region of niagara. it also was further complicated by emterra not paying, fanotech scrambling to provide loaners to the region, hense the deal with precision. i unfortunately at the time was having bypass surgery so i wasn't much help. its all water under the bridge and i could go on forever with all the little details. bottom line it was a team effort and there were holes in the team from both sides. the sad thing was instead of learning from this mistake we started blaming each other and fighting and that's why the business is now going bankrupt/ if you ask lisa she will tell you i have spent a great deal of time asking her to bring the parties together to fix this. it was in my opinion within her power to do so. perhaps the employees should ask the tomassoni's why they decided not to complete the transaction. finally read the affidavit from gabe doesn't it seem strange that there is no mention of te !.6m owing from emterra.
(1 days ago) j simmonds said:
#3124: in both cases we did put out press releases with the full support and knowledge of the tomassoni's. you can also see from above if you click on new agreement that this was binding on the tomassoni's.the tomassoni's can now say whatever they want but the fact is we had agreements in place and they renegged.
anonymous:it is well documented that i never received any money from fanotech during my time there. i had my first maserati prior to ever visting fanotech. if you take the time to read the above information you will see for more than the first year we put money into fanotech. that too is well documented and validated with cancelled checks etc. no one in our group had signing authority at the national bank which was fanotech's bank until feb 2011. so how could we use fanotech's money if we didn't even have access to it. you should oerhaps spend a little more time reviewing the material before making your accusations.
another proud employee:the management team didn't disappear when those orders were completed.yhe only person who left the day to day operations was renny and that was at the request of lisa because laura and dino decided they didn't like having him around. my mistake was caving into that pressure. in hind sight thinks would be much different today if i hadn't. its ironic because it was when we were finalizing our deal and discussing the transition it was the idea of renny coming back that probably blew up the deal. as far paying the bills go it was not collecting from enterra that created the problems of cash flow. you should look at your pat stub of july 24th 2011. you wil see it was from fanocorp, not fanotech. the reason was fanotech's line of credit had been frozen so we covered the payroll. a very strange move for someone who was trying to bankrupt the company.
(1 days ago) unhappy-WLSA-investor-number-3124 said:
Mr. Simmonds, can you please respond to the other topics addressed in the Tomassoni-letter:
1) Mr. Simmonds, your PR stated: "Vertility Technology Corporation has acquired an exclusive and perpetual license to manufacture, market and sell all products currently manufactured by FANOTECH (...), and that this license will extend throughout the United States of America". It should be noted that if this deal had been reversed, a follow-up PR should have been submitted... Yet, there have been no subsequent PRs published on this matter.
The Tomassoni-letter stated: "Fanotech has not licensed its American marketing and sales rights to anyone"
Which statement (if any) is the truthful statement?
2) Mr. Simmonds, every recent filing NLI has published (including the most recent December progress report) states: NLI "currently owns 10% of Fanotech"
The Tomassoni-letter stated: "No other entity has ever acquired any shares of any of the Fanotech companies"
Which statement (if any) is the truthful statement?
Thanks.
unhappy-WLSA-investor-number-3124
(1 days ago) Anonymous said:
Simmonds drove two different Maserati's over the duration of his destruction of Fanotech.
(1 days ago) Anonymous said:
Fanotech was just cashflow to pay the inflated salaries of "Criminal Simmonds" and his lackeys. The only problem is that he hadn't actually acquired the company...
(1 days ago) Anonymous said:
Start looking for a job!
Simmonds starting bleeding the company dry the first day he walked into Fanotech.
(2 days ago) another proud employee said:
anonymous you obviously have nothing at stake here! you should not comment again!
(2 days ago) Anonymous said:
Simmonds You Suck, and I'm going to sue you.
(2 days ago) another proud employee said:
John! your office was responsible for paying the bill was it not? Why were the suppliers not paid? why did paychecks bounce? And to go along with proud employee what happened to our full bonus of 1000 dollars per unit deliverd to be split up between us! this was promised from your mouth and noone elses when YOU announced that DINO was to run both shops and Gabe would be looking after engineering!Im just curious because it seems that as soon as the Emterra and Miller orders were finished the Managment team dissapeared!
(2 days ago) proud employee said:
I wont address the pretzel logic of all the legalspeak that appears on this site.I do however submit the following. item 1 emterra the ground work for this order had been laid long before the new socalled management team apeared.This was acheived by Gabe myself and others working 7 days a week for months to establish engineering protocals,hydraulics,electrical, fixturing, tooling and shop logistics.By the time Rennie and company showed up we were well on our way.I wont lightly dismiss Rennies ability,he did manage to push these units through but as stated the warranty claims did noone any favours.These claims did not occur primarily due to design flaws but shamefully poor workmanship, which I can state with certainty was pointed out and dismissed QUOTE get it out the door.Gabe was kept out of this regretfully because it would not have been allowed under his tenure.Gabe made us do things over till it met his satisfaction,and I am sure it hurt his bottom line doing so,but not once did i hear thats good enough.
Item 2 the new management team I saw nothing encouraging from them just hollow promises,we had our issues but these were not the people to resolve them.
Item 3 our promised bonus. it was written boldly on our communall message board that it will appear in one week.alot of weeks have gone by notwithstanding the denials, 50 sets of eyes saw it
Item 4 loyalty and respect cannot be bought with coffe and donuts it is earned by hours of hard dirty work,smashed fingers,24 hr side by side marathons,heartfelt generosity and honesty.These are the traits that we employees of Fanotech have long witnessed and admired . Anyone contemplating taking over Fanotech would do well to remember this. Because if you want more than an empty building we had better see a lot less name calling character assasination and downright vindictiveness than what is being displayed.
(2 days ago) Anonymous said:
the people to do it are the long time invested employees of fanotech! who are dedicated to OUR customers!!! they are the ones with the most to lose! much more than a few dollars invested. most that are left have more than 10 years servicing OUR customers!
(2 days ago) MOOSE said:
MY RESPONSE TO TOMASSONI - OBVIOUSLY LOGIC PLEASE - HE'S THE ONLY GUY ALIVE WHO CONSIDERS HIM AN INVENTOR. THE REASON WHY INVESTORS ARE INTERESTED IN A COMPANY THAT YOU'VE DESTROYED FOR NKICKS IS THAT IN THE HANDS OF COMPETENT MANUFACTURING PEOPLE WHO UNDER THE BAGE OF 70, NOT SENILE AND NOT DEMENTED, THE TECHNOLOGIES WHICH YOU'VE STOLEN HERE AND THERE OVER THE YEARS FROM EZPAC AND OTHERS - HAVE VALUE IN AN INDUSTRY WHERE THE DEMAND HIS HITTING THE HEIGHTS WHILE YOU'RE JUST PROVING TO ANY DOUBTERS WHAT A FOOL YOU ARE. TO SIMMONDS - 3 QUESTIONS - TO THE NEAREST $10,000 HOW MUCH OF WLSA NLI AND FANOCORP MONEY HAVE YOU SPENT ON FANOTECH AND THE TOMASSONIS - INCLUDING ALL THE JEWELRY, TRIPS, CARS, TRUCKS, CLOTHES, DINNERS, PAYMENTS ON TOMASSONI BEHALF AND WHAT DO THE SHAREHOLDERS HHAVE TO SHOW FOR IT? WHICH ROYAL WE IN YOUR KINGDOM OWNS 10% OF FANOTECH AND IS THAT AGREED WITH BY THE TOMASSONIS? THE ONLY FUTURE PLAN I CAN SEE IS TO PICK UP THE PIECES OF FANOTECH OUT OF BANKRUPTCY AND START FRESH. GIVEN THE INDUSTRY STARVATION FOR EQUIPMENT THAT PROBABLY WORKS AND I GUESS THERE'S LONG TERM PAIN FOR LONG TERM GAIN - TWO QUESTIONS - DO YOU HAVE THE MONEY AND PEOPLE TO DO IT - IF SO WHO ARE THEY? AND WHAT GUARANTEE DO SHAREHOLDERS HAVE THAT YOU WON'T PLAY SANTA CLAUS WITH THE TOMASSONIS AGAIN AND SPEND OUR MONEY ON THEM OR FORGIVE THEIR DEBTS OR PROTECT THEM AGAINST LEGAL CLAIMS? MOOSE
(2 days ago) Garbage guy said:
Having been a Fanotech supplier for years, I can tell you that getting our invoices paid has always been a nightmare with them.Can't count how many hundreds of voicemails and emails were needed to collect a 1500$ bill. Hopefully investors will get their money back, enough is enough...
(3 days ago) j simmonds #3 said:
i'm answering rob f i agree with richard a i sympathise with disappointed.
(3 days ago) j simmonds said:
there is a limit of words in a response so this is second response today:
to situation:Fanotech consists of 3 entities. waste owned by laura. enviro owned by gabe and fanocor eneterprises an admin company with no assets owned by gabe. the real estate is in another company owned by gabe. they have a notice of intention to file a retructuring of enviro under the bankruptcy act. this will allow them to preserve waste in tact and offer some percentage of debts to creditors of enviro. they have had two extensions from the bankruptcy court and the new deadline is jan 31. we will have to wait and see what their proposal is and how many cents on the dollar the are offering creditors
still wondering: precision as a favour to emterra purchased equipment required by the region of niagara for a start date of feb 28, 2011 this was due to the delivery schedule missed by fanotech for the order to be complete by feb 15th fanoech was already in default on their emterra contract and had embarrassed not only emterra but the key personnel at the region. these units were actually leased to fanotech by precision and guaranteed by emterra. when the dust settled emterra and gabe couldn't agree on penalties and the recourse on the lease. due to gabes failure to deliver despite almost 9 months everyone has huge costs associated with the failure and of course gabe wants to blame everyone else. based on my knowledge of the situation precision and emterra will claw back a million dollars in escrow and the cra( canada's irs) who are expecting some of it will get nothing and gabe will have personal liability which will likely negatively impact enviro's proposal to creditors. the waraanty issues are also a major issue and i believe emterra is exposed due to outstanding warranty claims and i know precision is badly under water on their lease. in terms of liabilities there are many secured lenders with cross guarantees between financial institutions. throw personal debt on top of it all and i can;t see how any proposal will work out for them.
(3 days ago) j simmonds said:
My plan is to respond daily to legitimate questions. i will address my response to those identities named.
Logic PLease: nli has a binding agreement which the tomassoni's are in breach of. funds were advanced to gabe and laura tomassoni as part of that agreement funded by fanocorp. we believe laura tomassoni owes that money to fanocorp personally since she was party to the original agreement.any other funds disputed between fanotech and nli or wlsa are irrelevant to that claim. the original deposit of 1818000 shares of new look given to gabe's holding company are also retrieveable. furthermore the whole fanotech breach started with the tomassoni family trying to continue to run and operate the business post closing. i agree with your statement that they are not credible business people but the value of fanotech was realized very early by us due to that fact. unfortunately the closing was extended numerous times due to the banking issues and delivery problems all created under gabe's management.
Sag: i never knew about Lisa's past with Vellis Solutions. during that period in her life she had claimed to me she was the youngest female vp at a japanese electronics company. i had no reason not to believe that. it wasn't until a week after the deal blew up that a friend advised me of the circumstances surrounding the fraud againt the DND. i really couldn't believe it so i did personally engage the services of an investigator who quickly confirmed her involvement in the case. i was hoping that this subject would not come up but now that has i don't believe it has any relevance to this matter and it was before she starting her career at fanotech. i understand she made a deal with the rcmp and was not charged of any crime. i consider it a dead issue and will not be comenting further.
moose: as stated above we did not discover vellis until after the deal blew up. i also think i address you comments in the logic segment. if however you feel my explanation inadequate ask me specific question and i will address them.
(3 days ago) Logic Please said:
Let’s apply some logic.
I am an investor and worried about the prospectus of ever getting anything out of this deal.
What motivated Simmonds to operate in this very unprofessional and non-business like manner?
From what I can understand, this saga started in early 2010 and ended in August 2011 altogether about 19-20 months. This was plenty of time to perform due diligence.
I also noticed that the upfront money had changed from the original Copernic deal.
Why did Tomassoni after that long refuse the deal, this is a strange and possibly very important piece of info. Does anyone know the circumstances?
Next, I am puzzled by the comments, which seem to be conflicting. If in fact Fanotech is a nothing company and the Tomassoni’s are not credible business people what are we doing spending time and money in that direction. Is it to recover our investment?
If I read between the lines Fanotech may have a bigger claim than Newlook, so where is the logic?
Why are many of the comments directed to persons and not the companies, it appears to pursuit a personal vendetta rather than a business transaction.
When is someone going to say something constructive?
(3 days ago) Sag said:
Mr. Simmonds did you approve the comment from MOOSE? This seems to be the work of a Private Investigator, are we the shareholders paying for those services too?
(3 days ago) MOOSE said:
I AM A WLSA AND NLI SHAREHOLDER. I AM PLEADING WITH THEUNEDUCATED FOOLS WHO SEEM MORE AMUSED WITH SCURILLOUS GOSSIP THAN THE WELFARE OF SHAREHOLDERS, TO CEASE AND DESIST. WE ALL KNOW THAT WLSA AND NLI HAD A BINDING CONTRACT TO BUY FANOTECH AND THAT FANOTECH BREACHED THAT CONTRACT. WE ALSO KNOW THAT THE TOMASSONI FAMILY HAVE A BUSINESS REPUTATION WHICH IS AWFUL - PREVIOUS BANKRUPTCIES, INVOLVEMENT IN THE LARGEST FRAUD ON THE CANADIAN GOVERNMENT IN HISTORY (PAUL CHAMPAGNE -THE BAXTER - PETER MELLON - THE CARNEGIE MELLON FINANCIAL GROUP - LISA TOMASSONI - VELLIS SOLUTIONS INC. - $160 MILLION COMPUTER FRAUD OF DEPARTMENT OF NATIONAL DEFENCE - NO RESTITUTION BY CRIMINALS - HEWLETT PACKARD PAID $140 MILLION - CHAMPAGNE WENT TO JAIL FOR 7 YEARS - MELLON AND TOMASSONI DIDN'T GO TO JAIL). MY QUESTION IS WHY DIDN'T SIMMONDS AND ALL HIS SO CALLED EXECUTIVE EXPERTS DO BACKGROUND CHECKS AND DUE DILIGENCE BEFORE SIGNING A DEAL WITH CROOKS? DON'Y BLAME THE CROOKS - THAT'S WHAT THEY ARE. BLAME SIMMONDS' PEOPLE FOR NOT DOING THEIR JOBS. GET RID OF THEM AND LET THE CROOKS GO TO JAIL. MOOSE
(3 days ago) what is the situation? said:
Can someone tell us what is truthfully going on with Fanotech? I had been told they were in bankruptcy proceedings with BDO as trustee. Then I get a letter from Gabe saying they are not bankrupt. I have had some of Fanotech's creditors tell me they owe over $10M,yet Gabe is quoting on supplying trucks for some large bids and promising delivery dates we all know he will not meet. What is the truth? Are they bankrupt or not?
(3 days ago) still wondering said:
I had commented earlier asking what the truth is about the involvement of Precision in all this,but no one has responded.Perhaps Mr. Simmonds could set the record straight. I had heard that Precision had leased a bunch of trucks to Fanotech to replace trucks they couldn't deliver on time to Emterra for the Niagara contract.
I heard the lease payments were NSF and bounced and now Precision is suing Fanotech.I had also heard that Mr. Simmonds was negotiating with Precision to buy Fanotech.
Word is Emterra is also suing Fanotech as all the trucks are falling apart. Any truth to these stories?
(3 days ago) rob f said:
john, at this point you really need to address the shareholders. I want to know "what is left" for the investors. Can this company survive another lawsuit?
Investors, like myself, that have withstood these years of disappointment don't deserve this again and don't deserve a 2 cent stock.
(3 days ago) disappointed said:
I am disappointed the comments about the Tomassoni's were removed. I think the industry should know the truth about this family,their disceitful practices and the lies they tell. I don't feel sorry for them and I hope they go down in flames and suffer,like the many suppliers, customers and employees they have harmed.
This industry is far better off without thm.
(3 days ago) Richard A. said:
Richard A.said:
Thank you John for removing the comments because many of them were counter productive and destructive in nature. I hope in the future people can keep the conversation civil and on topic.
(3 days ago) j simmonds said:
i apologize for the some of the comments made today on this website. as you can see we have removed all the comments. we will now manage the site to limit comments to issues related to the business. all personal attacks will be removed. this site is primarily for the benefit of our shareholders and other stakeholders who have been negatively impacted by the breaches and false statements made by gabe tomassoni. i particularly want to apologize to lisa for the comments made with reference to her conduct in this mess. she does not deserve these attacks on her character. unfortunately she and i are the focal point of the dispute and i'm sure the misguided loyalty to me prompted some of those silly comments.
Here is some of the removed text if anyone wants to reference it:
Home Page
There are many inaccuracies in the statements made by the Tomassoni’s and they relate to events over the last two years. We believe all the allegations made against Fanocorp, New Look and their management teams are not only false, but in some instances libelous. This website has been put together for the benefit of those affected by this ongoing dispute and will tie all of our claims back to third party validation or in many cases, Gabe Tomassoni’s own contradictions under oath.
We agree Fanotech Waste is not bankrupt. It is however insolvent based on its inability to pay its creditors as their accounts become due. The draft financial statements (Exhibit B) dated March 31, 2011 prepared by outside accountants shows a large loss and a significant deficit in shareholder equity. It also has a going concern clause in Note 1.
John Simmonds, (“Simmonds”) who is the financial consultant referred to in the letter of December 15, 2011 circulated to suppliers, customers, employees, and others was actually brought in on November 13, 2009 by Lisa Tomassoni to help deal with a problem with the National Bank of Canada, (“NBC”).
November 13, 2009 was the first time John Simmonds had ever met Gabe Tomassoni or visited Fanotech. Around midday, the NBC visited the Bracebridge facility to advise the Tomassoni’s that their account was being placed in special loans due to default on a number of covenants.
Attached are Lisa’s notes of that meeting and a draft letter written by Simmonds as a response to the NBC. A formal Forbearance Agreement was negotiated on December 9, 2009 and the Company was given until February 28, 2010 to pay off the loan. Contrary to Gabe’s sworn affidavit of October 19th, he was under considerable pressure from the NBC to pay off loans and it was John Simmonds who helped negotiate multiple Forbearance Agreements while he attempted to refinance the business.
It was impossible to refinance the business under Gabe’s leadership due to prior bankruptcies and mismanagement, so Simmonds suggested that the Company be taken public through an entity that Simmonds controlled. After several failed attempts to find a suitable vehicle due to historic losses and problems at Fanotech, we settled on the Canadian listed entity of Newlook Industries Corp.
By May 2010, it was obvious that the Tomassoni’s needed help in reviving the business and that is when Simmonds and Gabe Tomassoni agreed to bring in Bob Cariglia and Ross Hill who both had significant truck manufacturing experience.
Very quickly under the new leadership the backlog went from $1M to almost $10M. By summer 2010, despite the ongoing battle with NBC, the new team managed to keep things going while paying down the loan. When Fanotech started missing Emterra deliveries in October 2010, due to Gabe’s inability to produce at his budgeted cost, which we now understand was a chronic and historical Fanotech problem, the NBC demanded an infusion of $500,000. (Exhibit A)
Gabe, being unable to comply asked Simmonds who set up a new Company named Fanocorp and Simmonds raised $1M of new capital from the management team.
Contrary to Gabe’s affidavit, $500,000 was advanced to Gabe and Laura who in turn loaned the funds to Fanoteh Enviro to prevent the NBC from putting Fanotech into bankruptcy.
Deliveries continued to slip in November and December 2010 and another $400,000 was advanced by Fanocorp in order to pay Fanotech employees and suppliers in December 2010. (Exhibit C)
By the end of December 2010, production costs were severely inflated due to gross mismanagement and all customers were badly behind in delivery, Gabe was removed from production and Renny Bidinot, a member of the new management team was brought in to fix the delivery problem.
Gabe continued to resist Renny’s involvement during January 2011 and finally Simmonds delivered an ultimatum to Lisa to get her father out and let Renny Bidinot run things. That finally occurred and by early February 2011, production was finally flowing, unfortunately too late to avoid massive penalties for late delivery. These issues led to severe penalties and the inability to collect receivables. Despite that, Simmonds brought the TD Bank in to take out NBC in February, 2011, providing Simmonds controlled the finances of the Company. It was a condition stipulated by the TD Bank.
We did our best to mange through the problems, but when we could not reach a final settlement on the Emterra account, TD put the Company into special loans in August 2011.
Simmonds still felt the Company could be saved and on August 19, 2011, he entered into a new Agreement with Gabe, scheduled for closing on August 31, 2011. On August 22, 2011, the Tomassoni family met privately and decided that they would breach that Agreement and terminate unilaterally the binding Letter of Intent.
The so called “missing funds” referred to in the December 15, 2011 letter are not missing at all. They are expenses incurred by Fanotech in 2011 and paid on their behalf by Fanocorp or Newlook.
Furthermore, many additional costs were subsidized by Fanocorp or Newlook including Simmonds’ consulting fees. Simmonds never charged Fanotech anything for his time and effort. Many suppliers and customers along with employees acknowledged Simmonds continued efforts for almost 2 years to save the Company.
While we are still hopeful that the parties could still come together and resolve their differences, it was necessary for these facts to be put forth so everyone involved can see what actually transpired and how Fanotech got into the position it finds itself in today.
I must say I'm pleasantly surprised with the dialog over at the fanofacts site. Lots of interesting information provided by other people, and lots of interesting responses by JS.
If anyone has any burning questions, now is probably the time to ask... Simmonds has warned that site will be coming down by close of business Monday.
http://www.fanofacts.com/
At the end of this month, Gary Schwartz (Nowphit Vice-Chairman) & Marc Askenasi (Nowphit CEO) will be holding some sort of a discussion on "Tips for Mobile Success".
Damn, the redirects have reverted back. Though, as of now, the signup page is still up if anyone wants to sign up for whatever it is we are signing up for:
http://signup.nowphit.com/
http://www.nowphit.com now redirects to a signup page, instead of to the interamericangaming website.
It seems things are a bit closer to moving.
I have a few I found at around a penny, which is about all I can afford right now...
Most of my money is tied up in a little company that is promoting green energy & energy conservation solutions... By abstaining from all promotion