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We have been unsuccessful in locating the documents other than the initial filing which would authorize $MSTO CEO Josh to claim 30% ownership of SBQ (keep in mind the filing just states he has ownership out of the blue) - if you locate it please pass the information along that would be much appreciated. Thanks.
It doesn't take long to realize $MSTO CEO Josh has not taken his employment agreement serious enough to protect his retail stockholders. In fact, his willful misconduct as the company Executive Officer has placed the "Company" in substantial material danger of losing its' listing on the exchange.
4. Termination for Cause by the Company:
4.1 Cause. Reasons and process for termination for Cause. Executive may be terminated from employment with "Cause." For purposes of this Agreement, the term "Cause" shall mean:
Gross negligence or willful misconduct in the performance of duties to the Company that has resulted or is likely to result in substantial and material damage to the Company,
CEO Josh has not kept the terms of his employment agreement in allowing $MSTO (the "Company") to enter the Expert Market.
1.1 Employment. During the Employment Term (as defined below), the Company hires Employee to perform such services as the Company may from time to time reasonably request consistent with Employee's position with the Company (as set forth in Section 1.1 and 1.5 hereof) and Employee's stature and experience as an Executive Officer (the "Services"). The Services and authority of Employee shall include, but not necessarily be limited to, management and supervision of (A) the general accounting, reporting, financial management and regulatory compliance of the Company,
You realize $MSTO CEO Josh has violated his own self written employment contract... he has not maintained his exclusive relationship of employment with the company.
CEO Josh - Performance Requirements
1.4 Exclusive Employment; Non-Competition. Employee agrees that his employment hereunder is on an exclusive basis, and that as long as Employee is employed by the Company, Employee will not engage in any other business activity which is in conflict with Employee's duties and obligations hereunder.
Whats troubling is we think CEO Josh really believes he is transparent with the stockholders. Even the website says: MasterBeat strives to be transparent and to keep our loyal shareholders informed and engaged. We will continue to update shareholders about new developments, challenges and opportunities.
But as we know that has not been the case.
In just the simplest of posts he could have given us an update on the property conditions after the hurricane, or shed some light on his difficulties with the current audit, or better yet run a Q&A on one of the social platforms for the benefit of all.
However, as a parent/grandparent one soon discovers when the kids have done something wrong they generally go find a place to hide. Such is the case with $MSTO CEO Josh.
Keep in mind CEO Josh is a sub-contractor and you know how that goes... you get to hanging around the job sites - chumming and the next thing you think is you are in tight with the GC and have your hands on the cash cow. Well as he soon found out not a single contact he touted stepped up to the plate with his dreams of grandeur.
CEO Josh appears to have toned down his pie-in-the-sky statements (a little) on the website as it now says: MasterBeat Corporation is a publicly traded company specializing in hard, tangible asset acquisitions with an intense focus on real estate and precious metals. Our CEO, Josh Tannariello, has over 19 years of experience in the industry, and plans to build Masterbeat Corp. into an asset-rich conglomerate with a unique model of asset appreciation, revenues, and profits.
...and finally the $MSTO CEO Josh stockholder kick in the teeth
CONSOLIDATIONS
Masterbeat Corporation owns 70% of its subsidiary SBQ, LLC. The remaining 30% is owned by its current Chief Executive Officer.
As noted on many occasions CEO Josh claimed the company was riding on his back when in fact it is the $MSTO retail trader who has financially suffered because he has failed to perform according to his own self written compensation agreement.
All we have asked is for transparency as reasonable as possible and still CEO Josh has remained silent. We have posted consistently the status of the COCs and the financial condition of the company from a retailers perspective. If it is incorrect then please with all due respect correct us with the facts. Let's do a Q&A - oh boy do we have a bunch of questions to ask...
Here's a little more salt in the $MSTO wound
~ CEO Josh Self Written Compensation Package
EXECUTIVE EMPLOYMENT AGREEMENT: This Employment Agreement (the "Agreement") is entered into as of the 15th day of June, 2019 between Joshua Tannariello ("Employee") and MasterBeat Corporation, a Delaware Corporation, its affiliates, predecessors and subsidiaries (the "Company").
CEO Josh Responsibilities (partial):
1.1 Employment. During the Employment Term (as defined below), the Company hires Employee to perform such services as the Company may from time to time reasonably request consistent with Employee's position with the Company (as set forth in Section 1.1 and 1.5 hereof) and Employee's stature and experience as an Executive Officer (the "Services"). The Services and authority of Employee shall include, but not necessarily be limited to, management and supervision of (A) the general accounting, reporting, financial management and regulatory compliance of the Company, (B) the general accounting, reporting, financial management and regulatory compliance of future acquisitions and Affiliates. For purposes of this Agreement, "Affiliates" shall mean, as to any person, any other person controlled by or under common control with (or, where applicable, controlling), directly or indirectly, such person; and 'person" shall mean any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof, or any other entity; whereas such person in the normal course of business shall be deemed an affiliate of the Company
CEO Josh - $MSTO Employment Period Expiration Date
1.3 Term. The term of Employee's employment under this Agreement (the "Employment Term" or "Term") shall commence on the date first written above (the "Effective Date") and shall end five (5) years after the Effective Date unless sooner extended or terminated in accordance with the provisions of this Agreement.
CEO Josh - Performance Requirements
1.4 Exclusive Employment; Non-Competition. Employee agrees that his employment hereunder is on an exclusive basis, and that as long as Employee is employed by the Company, Employee will not engage in any other business activity which is in conflict with Employee's duties and obligations hereunder. Employee agrees that during the Employment Term, Employee shall not directly or indirectly engage in or participate as an owner, partner, shareholder, officer, employee, director, agent of or consultant for any business that competes with any of the principal activities of the Company. Provided however, that Employee may acquire and/or retain, as an investment, and take customary actions (including the exercise or conversion of any securities or rights) to maintain and preserve Employee's ownership of any one or more of the following (provided such actions, other than passive investment activities, do not unreasonably interfere with Employee's Services hereunder): (i) securities of any corporation that are registered under Sections 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and that are publicly traded as long as Employee is not part of any control group of such corporation and, in the case of public corporations in competition with the Company, such securities do not constitute more than five percent of the voting power of that public corporation; (ii) any ownership interest in a partnership, trust, corporation or other person so long as Employee remains a passive investor in that entity and so long as such entity is not, directly or indirectly, in competition with the Company, (iii) securities or other interests now owned or controlled, in whole or in part, directly or indirectly, by Employee in any corporation or other person and which are identified on Schedule 1.4 hereto; and (iv) securities of the Company or any of its Affiliates. Nothing in this Agreement shall be deemed to prevent or restrict Employee's ownership interest in the Copany and any of its Affiliates or Employee's ability to render charitable or community services not in competition with the Company.
CEO Josh - Compensation
As compensation and consideration for the Services provided by Employee during the Term pursuant to this Agreement, the Company agrees to pay to Employee the compensation set forth below.
2.1 Fixed Annual Compensation. The Company shall pay to Employee salary ("Fixed Annual Compensation') at the rate beginning on the Effective Date and continuing for the term of this agreement as follows:
2.1.1 $180,000.00 per annum at such times and in such amounts as the Company may designate in accordance with the Company's usual salary practices, but in no event less than twice monthly.
2.1.2 If annual revenues exceed $10,000,000.00, $360,000.00 per annum at such times and in such amounts as the Company may designate in accordance with the Company's usual salary practices, but in no event less than twice monthly.
2.1.3 If annual revenues exceed $20,000,000.00, $540,000.00 per annum at such times and in such amounts as the Company may designate in accordance with the Company's usual salary practices, but in no event less than twice monthly.
2.1.4 The Employee agrees that the Fixed Annual Compensation may be accrued at the discretion of the Company.
CEO Josh - Granted Common Shares
2.2 Stock. The Company shall grant to Employee Ten Million (10,000,000) shares of the Company's Common stock upon the effective date of this agreement. The stock shall be fully paid, non-assessable and shall contain other customary rights and privileges, including piggy back registration rights. The certificate evidencing the shares shall bear a restrictive legend. Furthermore, the stock shall vest as of the expiration of the Term of this Agreement
CEO Josh - Bonus
2.3 Bonus. Under this Agreement, Employee shall be entitled to participate in the highest bonus incentive program (hereafter "BIP") set up by the Board. While the specific structure and trigger mechanisms for the BIP are at the sole discretion of the Board, the BIP shall afford Employee the opportunity to earn a cash and/or stock bonus through the Employee's accomplishment of specific pre-identified reasonable milestones in the development of the Company's business. Any payments under the BIP shall be paid annually to Employee and shall be paid no later than the end of the first quarter following the Company's fiscal year-end. In addition to the BIP, Employee shall also be entitled to such additional bonus, if any, as may be granted by the Board (with Employee abstaining from any vote thereon) or compensation or similar committee thereof in the Board's (or such committee's) sole discretion based upon Employee's performance of his Services under this Agreement.
3.1 Vacation. Employee shall be entitled to an aggregate of four (4) weeks of paid vacation during each year of the Contract Year. Employee shall take vacation at times determined by the Employee, however, with appropriate consideration for the Company's business needs. In addition, Employee shall be entitled to holidays generally observed in the United States and the State of Texas
CEO Josh - Cause For Termination
4. Termination for Cause by the Company:
4.1 Cause. Reasons and process for termination for Cause. Executive may be terminated from employment with "Cause." For purposes of this Agreement, the term "Cause" shall mean:
Gross negligence or willful misconduct in the performance of duties to the Company that has resulted or is likely to result in substantial and material damage to the Company,
Repeated unexplained or unjustified absence from the Company;
A material or willful violation of any federal, state or local law; commission of any act of fraud with respect to the Company, or conviction of a felony or a crime involving moral turpitude causing material harm to the standing and reputation of the Company, in each case as determined in good faith by the Board of Directors of the Company; or substantial or continued unwillingness to perform duties as reasonable directed by Company's Board of Directors.
CEO Josh Signs His Own Compensation Plan
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
Company
Masterbeat Corporation., a Delaware Corporation
By: /s/ Josh Tannariello
Josh Tannariello, CEO Materbeat Corporation
Employee
Josh Tannariello
By: /s/ Josh Tannariello
Josh Tannariello, an Individual
File Date 12-15-2021
$MSTO Beneficial Shareholders. The following are persons or entities owning 5% of the current outstanding shares or more as of the date of this information statement. Josh Tannariello 246 Driftwood Rd, Miramar Beach FL 32550 Owns 20,000,000 Preferred Series A super voting shares – Approx. 97% of outstanding shares Ref: Annual Report For the Period Ending: December 31, 2017
Don't be fooled in thinking $MSTO CEO Josh has your back as a stockholder. Just in case you had any doubt: Each share of convertible Preferred Series A Stock is convertible into 10 shares of common stock, has 100 votes, has no dividend rights except as may be declared by the Board of Directors, and has a liquidation preference of $1.00 per share.
$MSTO is not going PINK anytime soon until CEO Josh reconciles the error of his ways. One example is the REG A 350,000,000 at $.0001 blunder on the last Q filing. Per his REG A he was suppose to issue those shares at $.001 not $.0001 which we think is part of the reason he cannot clear the current audit. He would have to submit an amendment and there is a good chance the old toxic lender Eric and Valerian are not going to budge on that. So as previously noted he is on the 18 month clock before the stock is delisted. Oh and keep in mind all of those shares for a measly $35K. (see note 8: During the six months ended June 30, 2022, the company issued 350,000,000 new shares for the conversion of $35,000 in Cash bringing the total outstanding shares to 1,073,361,015).
0.0002 0.00 (0.00%) Volume: 8,000
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0002 - 0.0002
Last Trade Time: 3:08:56 PM EST
0.0002 0.00 (0.00%) Volume: 21,900
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0002 - 0.0002
Last Trade Time: 2:54:31 PM EST
No changes on Baird and Gulf properties as of this morning. $MSTO CEO Josh had said in his last PR 09/22/2022 (two months ago as of today) COC had started on the electrical and plumbing but the county permit only says driveway connection ~ we don't see the permit for electrical and plumbing?
BP-2022-8179
NSFR
Jurisdiction:Santa Rosa County
Type:Residential Driveway Connection,Residential New Single Family
Create Date:2022-09-20T10:04:06.7
Status:Pending (Under Review)
Business
Applicant
Physical Address
7944 GULF BLVD
32566 Navarre Beach, FL
On June 07, 2021, SBQ announced the purchased of a tract of land in Navarre Beach, Florida for $365,000 to build another upscale Beach Vacation Home. Ground has been broken and is the process of having all the underground electrical and plumbing installed. The pilings have been delivered, and all the lumber, trusses, windows, and appliances have been ordered. The Navarre property is listed for $3.75 million dollars and will be similar in size and style as the recently sold Santa Rosa Rolling Dunes property, which sold for $4.25 million and was the first of multiple custom 5,000 sq. ft. vacation style homes that SBQ will be constructing throughout the Florida Panhandle. The Navarre property will be an 8-bedroom, 8.5 bathroom, 3 story structure with a rooftop deck, and an elevator. The property will be able to sleep multiple families, will include a private resort-style pool with a hot tub, fire pit and much more.
Hmm - we can think of only ONE person who would do that because $MSTO CEO Josh is gonna need money on the back end to pay fees. So figure giving the .0001 stock for free (could be discounted below that) then at .0002 that would $2000 a mil in shares. Unless one could suggest a broker is moving it from one pocket to another (doubt it).
0.0002 -0.0001 (-33.33%) Volume: 3,097,202
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0002 - 0.0002
Last Trade Time: 3:42:03 PM EST
0.0003 0.00 (0.00%) Volume: 7,380
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0003 - 0.0003
Last Trade Time: 9:30:10 AM EST
Yep you are right - one of the reasons we mentioned to him why he dumped his ECO LLC partner on a lock out clause and then turned around and got hooked with Eric who had the similar issues plus the RSO. Yes money waving in his face but he knew all along Eric was not going to let him ride easy one only has to look at Eric's toxic past to know better - we haven't checked his stone company in about a month or so but he mentioned one time he was devoting his full time efforts to $MSTO and we said" "doing what?"
There is not enough money on the past deal to run off. But he got caught short handed on the Baird property deal. He had hoped to build two houses but had to combine the two lots into one to try and get around the "wetlands" remediation. The county reports are very tricky and we are not sure he is savvy enough to play that game. His GC is pretty good and knows a lot of people but after the hurricane there are plenty of cash making opportunities instead of chasing down loose ends on the $MSTO county honey do list. That list is a mile long.
If we get to pink we think it will have a short run, he can gather some cash from the diluted shares and many can ride the quick but short lived wave. Let's see how it goes...
That would leave $MSTO with 35% of the winnings minus all the goodies
(100/2 x 70%). If he threw up a non-audit Q he could go back and amend it. We just think his numbers are far too out of wack to fly right now but who knows... he has run a mom and pop business where it is easy to shuffle from one pocket to the other ~ but then again he and Eric have experience together on another ticker too....
We would prefer he throw up a non-audit Q, run pink then go back at it - however he is going to still face a similar issue of reconciliation in following the cash paper trail. Yes there was sales generated but keep in mind it was a 50/50 split with the other LLC, then he grabbed 30% of the balance and $MSTO had some leftovers. We suspect there are some crumbs falling off the table but time will tell.
$MSTO CEO Josh has gotten greedy and he will have to unwind that REG A deal and account for the bank balance difference using diluted stock funding. In addition he has a cash flow shortage with the CE in place since the Baird property has turned into a can of worms. Expecting Gulf will sell anytime soon is pie in the sky. He needs to step back and take his fingers out of the cookie jar. It may be too late but we remain hopeful.
0.0003 0.00 (0.00%) Volume: 60,500
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0003 - 0.0003
Last Trade Time: 10:39:04 AM EST
$MSTO has 18 months to bring the company current while it sits in the expert market. At that point it will be de-listed. The clock started 45 days after the last Q was due. The primary reason the company cannot clear an audit is because the numbers just don't add up. CEO Josh for starters has been issuing diluted shares into the retail market place using a toxic lender. In addition, he incorrectly issued REG A stock at the wrong pps value and didn't even bother to correct it. Further, he has hustled the retail traders out of their paycheck with the outlandish self written compensation plan and then did a slight of hand movement on the SBQ 30% heist. Finally, he purchased the Baird property lots 35/36 with wetlands limitations and is trying to sell the overpriced Gulf property into sliding softening RE market. Don't let him say all of this is on his back - he has covered his cash by encumbering the properties.
I could go on...
0.0003 0.00 (0.00%) Volume: 613,000
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0003 - 0.0003
Last Trade Time: 9:32:09 AM EST
0.0003 0.00 (0.00%) Volume: 100,000
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0003 - 0.0003
Last Trade Time: 10:53:40 AM EST
There is really no new news to report on $MSTO other than the status of the CE removal/audit. That may take some time to sort out since CEO Josh made a few accounting errors whether intentional or not.
The two COC properties (Baird and Gulf) have a bunch of hoops to still jump thru.
Baird has the wetlands, CEO Josh bought lots 35/36 with the intent on building two homes and that did not plan out since you can't build on top of the wetlands without substantial remediation. So he combined the properties and now is stuck going thru the lengthy process of the wetlands work-around. Gulf (Navarre Beach) is a plot up for sale in hopes of finding a buyer in an overpriced and softening market. We see that as a 2023 mid Q2-3 flip with our fingers crossed on a best case scenario.
CEO Josh is basically out of money. He has been encumbering $MSTO with his outlandish self written compensation plan and then hijacked 30% of the SBQ profits. That left $MSTO with chump change for cash flow. Thus, he needs to square away the CE to Pink or nothing is going to move forward. The reason being he needs $MSTO pink so he can push off .0001 to Eric or some other greedy toxic lender then sell those shares into retail. We believe he has his hands in the pot on those cheap share give a way with a back end cash return.
It would be nice to hear he settled the REG A stock error and accounted for the difference in cash flow vs bank statement vs Q filings. This is is going to be a very slow process and our guess is a year or more out before Baird hits the MLS and Gulf gets an offer.
Lot 35 (combined 35/36) $MSTO COC project on Baird Road Wetland Delineation survey has been submitted. Findings indicate: based on our thorough assessment, we have determined that neither state nor federal jurisdiction exists over any portion of the above referenced lot. As such, development of this site should not require federal or state permits. However, there are jurisdictional ditches in the road right-of-way adjacent to the property, which would require permitting if impacted by development. That is a nice hurdle to jump over so now we will see if the county wants revised build plans submitted indicating the foundation stilts/pilings.
No changes on the $MSTO Baird and Navarre properties as of the morning. The listing is still the same as well.
0.0003 0.00 (0.00%) Volume: 5,705,047
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0003 - 0.0003
Last Trade Time: 3:46:49 PM EDT
0.0003 -0.0001 (-25.00%) Volume: 729,194
$MSTO
Masterbeat Corporation (CE)
Day Range: 0.0003 - 0.0003
Last Trade Time: 2:45:15 PM EDT
On the $MSTO Baird project - this is the latest submission / response from the county. As one can see it is a can of worms and it will take a long time to see the project finished. Oh and there are no changes on both properties as of this morning...
Once again CEO Josh didn't sit this out and see the ramifications of building on the Florida wetlands but hey he is an out-of-state owner from New Hampshire living in Georgia and it is not like this is his first exposure to them. Heck NH has them too: see Preserving and protecting New Hampshire’s tidal and freshwater wetlands from unregulated alteration ...
Date: October 12, 2022
Through: Jason Catalano, CFM / Building Plans Review Manager
From: Yubeiri Bacon, E.I.
C.C: Andrea Ward, P.E. / Civil Engineer
Re: BPR21-002777
Project Information:
CDLPZ (150%) ? ICPAL (100-yr) ? TIWB (no attenuation) ? MCD ? Wetlands ? WSPZ ?
The project is located at Lot 35 and Lot 36, Block A, Beach Highland S/D, Plat Book 3-50. The property
consists of ±0.49 acres of native vegetation. Existing topography varies from 19-feet to 6.5-feet naturally
draining to an existing pond on the south-east of lot 35.
Plans and/or calculation show impervious as follows: residential structure with detached garage
(2,066ft2
), pool and associated pavers (723 ft2
), and driveway, parking area and walkways ( 4,244 ft2
).
The total impervious area was calculated to be 7,033 ft2, 1
.
The proposed stormwater management system is comprised of two 6-inch-deep swales located along
the rear and in front of the property, both hydraulically connected by a 6-inch PVC pipe. The capacity of
the stormwater system is approximately 2,006 ft3, 6
.
All runoff originating from proposed improvements
is to be conveyed to the proposed retention area via proper grading, gutters, and downspouts.1, 6 The
following needs to be addressed so that we can continue with the review:
1. Provide the survey and topography of lot 36.
2. Provide the environmental assessment for lot 36.
3. The wetland delineation shown Site Plan dated 09/18/2022 does not represent the wetland
delineation shown on the survey dated 08/24/2021. Please add to the site plan and grading plan
the wetland line and the wetland buffer.
4. The existing topography shown in the Grading & Drainage Plan does not match the topography
on the survey. Please add the existing topography to the plans matching the survey. Also, add a
legend on the plans showing which line represent existing and proposed grading.
5. A hydraulic conductivity value of 40 ft/day should not be used for fine grained sands7
. In
addition, a FS=2 must be added.
6. Erosion control measurements to be added to the plans.
7. When submitting irregular swales, please provide the CAD drawings so that we can cross-check
the provided capacity.
8. Due to the location of this property please provide the following4
:
a. A model of the closed basin to include the staging of the receiving wetlands to confirm
there will be no rise of water onto adjacent properties. We are providing a ICPR model
of the area. Please note that if you are using another software you need to calibrate it to
the model provided.
b. A pile supported structure with net earthen fill of zero over the property is required.
c. Compensatory storage is mandatory for this ICPAL and falls in line with Policy I-4.5.2 of
the Comprehensive Plan (see below). Historical drainage patterns must be protected.
d. The FFE of the structures needs to be a foot above the flood elevation identified in the
Bird Road Project report provided by email.
9. Note that the parcel is at the bottom of a basin which had has flooding issues in the past. We are
providing the report and ICPR2 model by ATKINS (2015)1
for you information. It is the
responsibility of the engineer of record for the stormwater system to perform their due
diligence to design on the best interest of the public health and safety. Special attention to be
taken to existing and under construction properties adjacent to this one that are at a lower
grade.
The following polices of Walton County Comprehensive Plan are relevant to this project:
Policy I-4.1.2: Walton County shall require all new stormwater management systems be designed and
installed to provide adequate flood protection for all primary structures and to protect the structural
integrity of all roadways.
Policy I-4.1.3: Walton County shall require that all new stormwater management systems safely handle
all stormwater run-off that flows into, across, and/or is discharged from the site without creating any
additional flooding to adjacent property owners.
Policy I-4.1.4: Walton County shall have the authority to require the design of stormwater management
systems to be compatible with natural terrain or landscape barriers that protect the site against
flooding.
Policy I-4.1.5: Walton County shall require that retention/detention areas be designed and located so
that they do not adversely reduce the existing flood storage of the floodplain.
Policy I-4.2.5: Walton County shall continue to require erosion and sediment control plans be submitted
and approved prior to a pre-construction conference as regulated through the Land Development Code.
These plans shall be developed in accordance with water management district’s Best Management
Practices.
Policy I-4.5.2: Walton County shall continue to ensure the stormwater management regulations in the
Land Development Code protect natural drainage features by requiring compensatory storage,
nonstructural techniques when feasible, erosion and sediment control, maintenance of natural hydro
periods, and maximization of on-site detention/retention where feasible.
Policy I-4.5.3: As part of the development review process, the county may require an impact evaluation
that addresses the effects of new development on surrounding existing stormwater management
systems
Any additional supporting documents will need to be resubmitted through our on-line portal under the
referenced BPR number at https://www2.citizenserve.com/waltonplanning. Feel free to contact me
with any questions at 850-267-1955 or BacYubeiri@co.walton.fl.us.
? Final grades will be minimized in order to follow the surface profiles of the existing grades and protect
historical drainage patterns.
? All erosion control measures (BMPs) must be in place prior to site disturbance. Silt fencing shall encompass
the entire property boundary during site disturbance. Section 4.03.03 (B)(6)(c): Specific erosion control
measures shall be utilized during construction activity, such as staked and staggered hay bales, siltation
barriers, floating silt and filter berms. Further, erosion and sedimentation controls shall be left in place until
the disturbed areas are stabilized with permanent vegetation that will prevent the transport of sediment off
site.
? Pine straw is not considered permanent stabilization since it does not establish roots. If pine straw is used it will
need to be in addition to vegetation.
? Fill and clearing must be kept to a minimum outside of the building foot-print and driveway.
? All stormwater runoff generated from improvements shall be retained on site and directed towards the
stormwater management area.
? Fill or construction debris may not encroach into the roadway or obstruct existing drainage patterns.
? Driveway connections must not inhibit stormwater conveyance. They must be consistent with existing
driveways and conform to the approved master plan as applicable. Consult with public works if there are
any questions.
? Once the proposed stormwater management system has been constructed you must submit the following:
i. Certificate of Completion to the County;
ii. Final topographic survey showing the extents and depth of the SWMF;
iii. A minimum of four pictures from each side of the house (north, south, east, and west).
Walton County Comprehensive Plan:
? Policy I-4.1.3: Walton County shall require that all new stormwater management systems safely handle all
stormwater run-off that flows into, across, and/or is discharged from the site without creating any additional
flooding to adjacent property owners.
? Policy I-4.1.4: Walton County shall have the authority to require the design of stormwater management
systems to be compatible with natural terrain or landscape barriers that protect the site against flooding.
? Policy C-1.4.3 (4). Utilizing site specific erosion control measures, during and after construction, in accordance
with the Best Management Practices as established by FDEP. In addition to erosion control during
construction, stabilization of the shoreline shall be provided by prohibiting clearing of existing native
vegetation within a minimum 50 foot setback except as provided for in the Land Development Code for
access and ecological or safety related management of this buffer area.
Attributes of a Good Stormwater System
New development or improvements to a parcel must be designed to comply with the stormwater quality and quantity
requirements outlined in the Walton County LDC, The Walton County Comprehensive Plan, all applicable state and
federal regulations, as well as, the Florida Building Code. An applicant for an individual permit must provide reasonable
assurance that a SWMF, dam, impoundment, reservoir, works, or appurtenant work will meet the established criteria
including a determination that the activity:
A. Will not cause adverse water quantity impacts to receiving waters and adjacent lands;
B. Will not cause adverse flooding to on-site or off-site property, and/or structures;
C. Will not cause adverse impacts to existing (natural or man-made) surface water storage and conveyance
capabilities;
D. Will not cause adverse secondary impacts to water resources, and will not otherwise adversely impact the
maintenance of surface or groundwater levels or surface water flows (natural or man-made);
E. Will be easily constructed and function as proposed, based on generally accepted engineering and scientific
principles;
F. Will not adversely impact the value of functions provided to fish, wildlife, and listed species by wetlands and other
surface waters.
Low Impact Development Concept
**LIMITING SITE DISTURBANCE AND FILL IS THE KEY CONCEPT OF LOW IMPACT DEVELOPMENT
A. Minimize site disturbance and compaction of soils through low impact clearing, grading, and construction
measures.
B. Preserve or conserve existing site features and assets that facilitate natural hydrologic function.
C. Reduce stormwater storage requirements for your property by decreasing impervious (paved) surfaces.
D. Promote the distribution of retention, detention, treatment, and infiltration of runoff.
E. Harvest stormwater and rainwater on site.
We don't think he will let the $MSTO RE projects hit the skids. A problem is he bit off more than he had a budget for... with the expectation of reaping a heavy bonus on a nearly defunct Reg A offering which left him in a corner.
We reminded him countless times when he gave Eric .0001 shares it set a precedent for the future Reg A solicitation. As we stated to him no savvy "qualified" investor is going to pay .001 when he gave Eric .0001 -- he should have known that from the very beginning.
Eric is a slick cookie but CEO Josh has worked with him before so he knew the can of worms he was getting into. The thing is we get the impression he wanted $MSTO to be a better project than the last. But when you have Eric shoving cash in your face and you didn't stick to your business plan (oh where is that??) it is no surprise we ended up here.
Then the Q filings become problematic as previously discussed. We would like to know who pushed the Baird Road property on him especially since it was "wetlands" and there is a whole bunch of hoops to jump to get that project thru the county and that takes cash... if one reads the county COC reports he has a long way to go to clear that property.
Navarre is another issue. He is over priced pushing into a soft market and needs that COC loan based on an escrow buyer. We don't see that property selling at that price or even close to it - just look at the recent comps.
So where does that leave us? We think CEO Josh needs to hit the brakes for a minute and see how deep he is into Eric for, then figure a way to clean the books up to clear the audit.
As noted, getting pass an audit requires a solid paper trail. One past company we had sat thru a forensic audit to settle a key person death and it was not pretty. We have some ideas for him but they will not fly because he has his hand too deep in the cookie jar thinking he "deserves" some rich scheme payout. You cannot continue to encumber the company books with back compensation payments and SBQ 30% entitlements and then expect the company to grow - especially as an OUT-OF -STATE owner. That is outrageous. He has been in the construction industry long enough to know those situations require a bunch of finesse, ingenuity, and some good fortune to pull off.
His top priority is laying down the money paper trail. We have a hunch as stated many times before and to him it's dirty and he will have to come clean on some of it.
Just for some $MSTO clarity sake let me run some things thru the pass and off the cuff and cut to the chase. Me/us/our/companies have gone thru a ton of audits over the last 3-4 "decades" and without a doubt the number one reason for any and all delays was "money" - not the lack of it but how it was processed - that is the books are not balancing because the money that passed thru the companies went hayward for various reasons.
It doesn't take a rocket scientist to see the numbers hitting the previous Qs were out of shape, commingled, diluted financial assets, inaccurate statements, existing errors not corrected, and the list goes on. Example as with the Reg A share offering and receipt for payment contrary to the (legal) filed offering statements. When CEO Josh runs a hammer and nail company for the most part there is open game in moving funds around from one pocket to another. But when he runs a public company it gets a little more sticky.
CEO Josh has a whole host of issues he has created with his pie-in-the-sky forward thinking PRs. We think part of it was building high end properties as an "out of state owner". We have done it many times and it sucks without an in-house manager with eyes on the property. Many way outside the box in reality set in place to push the pps for .0001 toxic dilution shares (Eric). There are way too many items to discuss in this one post (e.g., why he bought a wetland property, no financial statements on JTEC, self written compensation plan, 30% ownership of SBQ out of nowhere, unrestricted share offerings, increased A/S without a business plan, outdated website, and the list goes on).
Many of you are correct - the goal post has not moved on the filing dates. There is one primary reason the audit and the Qs are not filed: you need to follow the money trail.
...one quick note: when it comes to an audit if you show a buck in revenue then you need to show where it is or went. If the transactions in the bank don't add up with the transactions on the register there is a problem Houston. One of the issues we see is the .0001 cheap stock for money on the front end and how that money got parsed on the backend after it was sold into the retail market/float.
See if you can figure it out... it's a hunch but with years of CEO experience - I think it is a good one.
...especially when I know how easy this is to fix $MSTO. he has gotten too greedy of a pocket book for an out of state job (two of them) he has little oversight control and not even the common courtesy to give a simple update on the RE properties as a result of the hurricane. I have access to the county records too and spoke with both of them - while I remain silent per the wishes of the family there is just too much I know about this whole mess. ok let's carry on. man I was flipping Vegas RE when he was still in his diapers. Come on - CEO Josh at least do the minimum - fix the last Q it's wrong.
0.0003 -0.0001 (-25.00%) Volume: 3,825,438
Day Range: 0.0003 - 0.0003
Masterbeat Corporation (CE)
$MSTO
Last Trade Time: 1:10:19 PM EDT
Just checked the status of the two $MSTO build properties and no changes in the application and permit process. Navarre still listed "for sale" as well. We will keep everyone posted if there are county website or MLS changes.
We wish... if you are referring to the Rolling Dunes sales - but the short answer is no ~ $MSTO does not have that amount of cash. The company and its holdings got 50% since we were in partners with another family LLC.
"Then" with the 50% balance SBQ hijacked 30% going into CEO Josh treasurer chest. Then $MSTO had some other interesting handouts and swamp property (wetlands) shenanigans we should have never gotten involved with - and the list goes on.
We sure wish the $MSTO stockholders would wake the heck up and ask CEO Josh for some hometown transparency. That's not gonna happen because the slight of hand movement would get exposed.
Let's see if he can drag us out of EM to pink. It's just paperwork + fuzzy math.
Ref:
Press Release: 01/04/2022
Masterbeat Corporation (OTC PINK: MSTO), a company specializing in hard, tangible asset acquisitions with an intense focus on real estate, collectible classic automobiles, and other tangible assets, is pleased to announce it has sold its 183 Rolling Dunes, Santa Rosa Beach, Florida beach property for $4.25 Million ($4,250,000). The land acquisition and construction costs for this property are $1.85 Million ($1,850,000) which realizes a $2.4 Million ($2,400,000) gross profit for the Company.
In February of 2021, SBQ announced the acquisition and purchase of a parcel of land (183 Rolling Dunes) in a high-end area located in the sunny beach town of Santa Rosa Beach, Florida. The Rolling Dunes lot was purchased for $400,000, with an estimated construction cost of $1,450,000, for an “all in” cost of $1,850,000. At the time, comparable properties in the immediate area were selling for between $2.5 Million and $3.2 Million and generating an annual rental revenue of approximately $300,000 per year.
In July, 2021, SBQ announced that SBQ had broken ground and was going to be starting construction on the 183 Rolling Dunes asset. In August, 2021, they announced the lot was cleared and construction had started. In October of 2021, the 183 Rolling Dunes property was listed on the Multiple Listing Service (MLS) with an asking price of $4.25 Million.
In December, 2021, SBQ received an all-cash offer and agreed to sell the property for the asking price of $4.25 Million. The funds are in escrow until the completion of the build which is still expected to be completed in April, 2022. The 183 Rolling Dunes property will realize a gross profit of $2.4 Million ($2,400,000) and, after the Realtor Commission of 4 % ($170k), a net profit of $2.23 Million ($2,230,000) for the Company.
Yes agreed. The disappointing thing is $MSTO CEO Josh has eyes bigger than his stomach but the two projects could still get done if he would stop shuffling .0001 diluted stock around with no accountability and get his paper work in order.
He needs:
1. Be more transparent with the stockholders
2. Keep the stockholders updated via the social media
3. Engage the stockholders on a Q&A which fleshes out issues
4. Get a securities attorney to review the filings and state of affairs
5. Recognizes he is not the person for handling the financial filings
6. Back track a little and clarify the past projects status and future endeavors
... there is a whole laundry list of items he could do in the meantime, e.g., clean up the rotten out of date web site, amend the misstated previous Q Reg stock filing, reduce the A/S, adjust his self written compensation plan, dump the SBQ 30% strangle hold, share we go on?