Subscribe to this topicForums > Allenvest Investment Group Public Forum > Topic: Halt Payment Request
| Sep 16th 2007, 00:19 Savvy Moyer |
Halt Payment Request | |
| It pains me to be the drafter of this request as I have wanted to support Allen as much as possible throughout this changeover. But at this point even my patience has found a point where it is at an end. The lack of communications and the lack of any real progress toward paying off the investors in the Land Fund or the Limited Partnership followed by the failure to post financials and becoming a halted stock on the exchange warrent a call to action. I don't know what the structure is for JTF financial to reimburse AIG the balance of the 7 million owed for the purchase of the former AVIX Stock Exchange. So please treat this request accordingly. At this time I wish to formally request that Arbitage Wise and the management of JTF Financial STOP all payment plans to the account of Investor Allen or any known representative of Allenvest Investment Group until the current state of AIG can be resolved. Should Allenvest continue with the current lack of communication, and become a delisted company on SLCapEx I request that all funds owed to AIG be utilized to settle accounts in the following manor. Structuring payment would be up to the management of CapEx as they are the only ones who will know how much they can pay out at any given time. The following are the AIG products of which *I* am aware. If there are others which need to be compensated, I am sure investors in those products will speak up accordingly. An accounting of all Land Fund claimants to come forward reimbursed no less than their innitial investment into the land fund. At last declaration I BELIEVE the compensation expectation was $0.50L per share + 1 share of AIG. I am sure someone will correct me on that. An accounting of all Allenvest Limited Partnership claimants to come forward reimbursed no less than initial investment into the ALP. Known expectation on Limited Partnership as last stated by Allen was a minimum value of $2.14L per share Both of these should be simple matters of claiments presenting the notecard created by Investor Allen in world stating their investment in the coinciding fund. Remainder of the balance of the debt owed to AIG should then be paid out as periodic dividends to the shareholders list for AIG not including anyone known to be representatives of Allenvest Financial. Once all outside shareholders have been reinbursed up to $1L per share in AIG any remaining funds would be accessible to Investor Allen and AIG IF good faith efforts have been made to redeem the company and its intentions moving forward. With only 1.7 million shares of AIG not in the hands of Investor Allen, paying these out as well as the above listed accounts should be an attainable goal. These #'s are also based on the assumption that everyone who has an account with Allenvest Financial will eventually be able to recapture all of the funds currently sitting in those accounts (Even if they can only do it $1000L per day). IF Allenvest Financial fails through no fault of the account holders, efforts should be made to compensate them as well. In the end, I hope that Allen comes through and makes this request unnecessary, but my faith is shaken, and at this point I do not feel it appropriate for JTF to compensate the CEO of a falling company while the shareholders lose their shirts. Thanks for listening! -Savvy Moyer Allenvest Limited Partnership Investor AIG Shareholder |
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| Sep 16th 2007, 01:58 Cash Yiyuan |
Re: Halt Payment Request | |
| I too support you request Savvy. I do hope Allen comes through, but I cannot be sure as my tickets still remain open: Customer Support Open Customer Support Issues Ticket# Issue Status Created 367 UPDATE REQUEST New 2007-09-12 18:45:49 368 AIG New 2007-09-13 01:44:12 370 AIG New 2007-09-13 17:45:49 I have also supported the vision from the start. Regards, Cash Yiyuan Allenvest Limited Partnership Investor AIG Shareholder SLCX Shareholder |
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| Sep 16th 2007, 02:50 San Liadis |
Re: Halt Payment Request | |
| I as a shareholder of the landfunds also support the request of Sawy. I hope SLCapex is taking the properiate action in this. |
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| Sep 16th 2007, 06:12 Valerian Dryke |
Re: Halt Payment Request | |
| I fully agree with Savvy's proposition. People on Capex forums know I've always taken the side of Allen so far, but constant failing communication from AIG is now just plainly unacceptable. I've been thinking about the solution stated above for a while now, but wanted to give Allen all possible chances before we unfortunately put pressure on Arbitrage. But Allen obviously isn't truly working toward a resolution of the problem and, given the actual situation, the fact he was online 3 days ago just makes his silence even more insulting. As I've stated in the Land Fund thread yesterday, while this puts in the hands of Arbitrage a hot case to deal with, I believe he is already facing the ethical problem of paying millions to someone who owes millions to JTF/Capex customers. The solution proposed here does raise problems (can everyone prove his/her investment claims with Allen and the related amounts?), but is also the most logical and convenient for everyone, including for JTF/Capex since the refunded capital will ,for the most part, be reinvested in the bank and exchange. At least, I know my 250,000 will. :) Let's see what Arbitrage himself think of this. Should we proceed, I am willing to give a helpful hand. I'd be proud to take part in an operation which contributes to the healing of a rather unclean and unreliable market. Valerian |
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| Sep 16th 2007, 09:22 Enky Nakamura |
Re: Halt Payment Request | |
| I'm too a shareholder of one of the 2 landfunds and i fully support the request of Sawy. We have to consider also AFB, that it's part of AIG. At the moment i think AFB counts more then 7 million in cash deposit, personally i think that this asset must be considered in the event that aig will be delisted, i dont know if Arbitrage Wise and the capex are willing to reimburse everyone involved with AIG Subsidiaries (AFBbank,land funds, limited partnership) Still hoping for a friendly solution of the problem. Enky |
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| Sep 16th 2007, 10:01 Ashleigh Wade |
Re: Halt Payment Request | |
| I support this plan Savvy. My instinct wants to believe that Allen is very busy in RL and on a trip as I have known him to travel. But these issues need to be addressed as priority number one as soon as feasibly possible. Communication has diminished to a point that is ridiculous. I have been a huge supporter of Allen and I know him to have a strong constitution. He has weathered attacks of character from day one and built a series of businesses that have helped open up the SL markets and new ways of thinking. It's sad to see that it has come to this point. I believe, however, the old man will pop up in a day or two and wonder why we are all so pissed off. Communication MUST be improved. I would like to include a consideration for the landowners in Allenvest Estates if the need arises. There are some really great things going on there. I understand Allen has some great ideas for development and a lot of people are working hard. It looks good :) I sincerely hope that Allen realizes that this matter has now become very serious and needs to be addressed. Ash |
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| Sep 16th 2007, 10:19 Enky Nakamura |
Re: Halt Payment Request | |
| Thank You Ashleigh for your opinion, after all i agree with you, "Communication has diminished to a point that is ridiculous." I hope that this problem is due to his Real life being too busy for him to be able to come around often, but finding 3 minutes each week to keep updated HIS INVESTORS AND CUSTOMERS isnt an impossible task. I call it "respect":) Cya Ashleigh Take Care Enky |
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| Sep 16th 2007, 10:58 Isegrim Nikolaidis |
Re: Halt Payment Request | |
| Dont forget that in opposit to SL, RL has something called accidents and deseases. I hope not for his sake, but he might as well be hospitalised. It is just one of the many considderations to keep in mind. |
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| Sep 16th 2007, 11:07 Marc Attenborough |
Re: Halt Payment Request | |
| I agree that something needs to be done, however, the order should follow the standard real world procedures. #1 Creditors - (People who have money on deposit at the bank) #2) Preferred Stock Holders - (The land fund and partnerships, etc) #3) Common Stock Holders - AIG Shareholders. Creditors are the only ones who should expect to recieve all of their money. Everyone else will likely recieve substantially less than $1 per share. It all depends on how much assets are left after creditors are paid. |
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| Sep 16th 2007, 11:09 Valerian Dryke |
Re: Halt Payment Request | |
| Don't know about his physical health, Isegrim, but I do know he has a personal affair going on. That's personal matter, but he's been running after two rabbits recently - female rabbits... When I have such stories going on in my own RL, I tend to be less available for other matters. Ah! That is just another wild interpretation of what may be going on. :) | ||
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