From the 8-K filed March 24, 2017 the following was noted:
1) Cresent Construction Company, Inc. was sold to IHSI by Dewey Keith Gabriel for $1,800,000 with $500,000 paid out as a down payment and the balance secured by a note to Gabriel
with payments to be made to him beginning no later than August 9, 2017
2) Gabriel agreed to a 3 year employment agreement
3) A non-compete clause was used in the employment agreement which would not allow Gabriel to engage in or own an interest in a corporation substantially similar to Cresent Construction Company, Inc. during the 3 year term of the employment agreement
The 10Q filed November 20, 2017 revealed that Gabriel had not been paid the first payment due him no later than August 9, 2017 relative to the $1,300,000 note owed for the sale of Cresent Construction Company, Inc. using the reasoning that he had not submitted a written request to be paid.
Now, on 9-7-2017 Gabriel filed with North Carolina Secretary of State, articles of incorporation for a new corporation named
Cresent Construction & Design Solutions, Inc. (ref. Sosid 1622740 and C2017 250 03501)...The NEW corporation has the same address 990 Lee-Ann Drive, Concord, NC and phone number 704-239-2463 as Cresent Construction Company, Inc. reflected in the 8-K mentioned above
The point here....why is Cresent Construction & Design Solutions, Inc. being formed by Gabriel at September 7, 2017 using the same address and phone number as Cresent Construction Company, Inc.
What happened to Cresent Construction Company, Inc...the one sold to IHSI effective March 9, 2017...Does it still exist? Why would it be necessary to operate two corporations very similar to one another out of the same address...Sort of odd.......
----OF COURSE MY OPINIONS AND VIEWS ONLY--
