Foundation Capital Harvest Group of C...
Stressed out

Winnipeg, Canada

#235 Apr 12, 2012
Why is nobody commenting on what happened in Edmonton?
Dannyboy

Calgary, Canada

#236 Apr 12, 2012
And if Roy didn't sell the investments to his family, it tells a most interesting story.
Hold Tight

Calgary, Canada

#237 Apr 12, 2012
Is everyone under the agreement that "WE" the investors DON'T want our assets to be "FIRE SOLD"?
Tyler

Saskatoon, Canada

#238 Apr 12, 2012
Dannyboy wrote:
And if Roy didn't sell the investments to his family, it tells a most interesting story.
There is an Aitkens from Lethbridge as a significant bondholder on Legacy.
Bill

Canada

#239 Apr 12, 2012
I think that is his wife.
Keeping A Cool Head

Calgary, Canada

#243 Apr 12, 2012
Claudine7633 wrote:
Sounds like Dannyboy has some personal issues with Roy Beyer, no need to expose his personal life, this is about the investments
Dannyboy has already admitted he is a non investor in all this so other than a vendetta he has no business interfering/commenting on what we should or should not do with our investments.
disgusted

Cochrane, Canada

#244 Apr 12, 2012
Stressed out wrote:
Why is nobody commenting on what happened in Edmonton?
No one is commenting on what happened in Edmonton because it isn't what they want to hear. Nicole was certainly called out a few times with proof of her manipulations which is exactly what the UCC has been doing all along.
Now you will start to see the actual truth come out as their run is coming to an end. She looked pretty unprepared for that.
Keeping A Cool Head

Calgary, Canada

#245 Apr 12, 2012
Basil wrote:
Who is the "one" raisin brain that keeps putting an "X" beside every and any forum comment that's clearing stating facts that have been proven time and time again, of mismanagement and misappropriation of our funds against Aikens and his band of ambassadors.
WERE NOT MAKING THIS UP..MY FINANCIAL STATEMENT IS EVIDENCE...SORRY TO BREAK THE NEWS TO YOU!!
Buddy, get your head out of your a$$,come clean and seek counseling! YIKES!!!
Well Basil...why don't you come clean and let all of these investors know how much you benefited from selling all these investments to your clients. I am sure they would like to know.
disgusted

Cochrane, Canada

#248 Apr 12, 2012
Calgary Guy wrote:
Well this is just great - when you google 'Keith Prosser' you can see that his page has been removed from the Arlington Street website ("Fabulous Frank" Lonardelli's company)but, you can see a cached version of the page here which was valid until March 31, 2012 -> http://webcache.googleusercontent.com/search...
Are they trying to bury a link between the two of them??
When I went and saw Fabulous Frank talk about 'beyond the bond' last year he struck me as being so full of grease and slime that I had to go home and take a shower after listening to him.
And here I always thought that 'Sophie' had a tough choice to make! Is there an option 'C'?
Calgary Guy, you have hit the nail on the head there!!! They are definitely trying to bury a connection.
Keeping A Cool Head

Calgary, Canada

#249 Apr 12, 2012
Don wrote:
Reading all the comments about Stoney Creek Crossing 11% bond, I think the only solution for investors is to band together and commence a class action suit agaist foundation capital
What project was Stoney Creek Crossing at 11%??? To the best of my knowledge the only bonds at 11% were the FM1 & FM2 projects. If you are referring to Stoney View I believe that bond was only 5% or 6% and it isn't even involved in the CCAA and the maturity date is still a while away.
depressed

Edmonton, Canada

#250 Apr 12, 2012
disgusted wrote:
<quoted text>
No one is commenting on what happened in Edmonton because it isn't what they want to hear. Nicole was certainly called out a few times with proof of her manipulations which is exactly what the UCC has been doing all along.
Now you will start to see the actual truth come out as their run is coming to an end. She looked pretty unprepared for that.
I'll ask again. Why is the case for UCC crumbling?
disgusted

Cochrane, Canada

#254 Apr 12, 2012
depressed wrote:
<quoted text>
I'll ask again. Why is the case for UCC crumbling?
Since you are in Edmonton, did you not see what happened last night? Nicole was really put in her place
Reality Bites

Calgary, Canada

#256 Apr 12, 2012
Hold Tight wrote:
Is everyone under the agreement that "WE" the investors DON'T want our assets to be "FIRE SOLD"?
I MOST CERTAINLY HOPE SO. But if a new CRO comes into play I have a feeling that is exactly what he will do, and his asswipe croonies behind him will buy the land dirt cheap, and once again, we the investors loose and alot of people make alot of money, just not us.

There is a redemption clause in the OM that says that if the corporation does not have the money at maturity it has the right to extend the bond. I'd like to see that happen. Extend the bond and have a small team very small work on increasing the value of the land and wait for the market. Geezes people we do that with our mutual funds and just HOPE they go back up. We are smart enough to know that it WILL go back up in value doen't we? I DO
Calgary Investor

Calgary, Canada

#257 Apr 12, 2012
Buuker wrote:
Legacy holders be aware that there were 2 OMs, at least. There is the one I was sold under, the original, which came with my bond certificate and another one put out in Sept, 2006. When I asked Foundation for my signed documents last Nov, 2011 they sent the updated OM as part of my package, as if that was the one I had purchased under. I have been too busy digging other places to compare the two, so I don't know if or what they are trying to slide by me but BE AWARE.
I know that neither one says, under the 4 intentioned Business Strategies.that they would sifen our money away and not pay out by Dec 31, 2011. Breach of Contract.
They both STINK.
According to Ron Aitken's affidavit of Dec. 20, 2011 (on the monitors site for those who want to review it themselves), there were three OMs for the Legacy project. The first was issued July 2005. The second was issued Sept 2006. The third was issued Oct. 2007.

On Dec. 15. 2005, Legacy entered into an Investment Agreement with Harvest Capital Management, signed on behalf of Legacy by Ron Aitkens and on behalf of Harvest by Ron Aitkens. This Investment Agreement contemplated investing some of the money raised from investors through the OMs into projects other than Legacy.

I invested in Legacy through the second OM. The Investment Agreement was not disclosed in the second OM as a Material Agreement (section 2.8 of the OM). I believe it should have been disclosed but that is something the ASC will have to determine. I can say however if I had seen the Investment Agreement when I was provided the 2nd OM, I would not have invested if I knew at that time a) that it was contemplated that the funds that I was to invest would be invested firstly in projects other than acquisition of the Legacy lands or b) that because the deadline to exercise the option to the additional Legacy lands was not until July 21, 2017 that Legacy didn't contemplate exercising the option until that date. This agreement was entered into in Dec. 2005, well before the market tanked yet Ron as principal of Legacy was already planning to invest the money raised from investors in projects other than the Legacy lands.

I haven't seen the third OM as it was not provided as part of Ron Aitkens affidavit of Dec. 20, 2011, but the Investment Agreement probably should have been included in that OM as well.

depressed

Edmonton, Canada

#258 Apr 12, 2012
disgusted wrote:
<quoted text>
Since you are in Edmonton, did you not see what happened last night? Nicole was really put in her place
No, I am not in Airdrie or Legacy so I couldn't go. Please do tell who called Nicole out, and about what?
Janet Kelly

Airdrie, Canada

#259 Apr 12, 2012
I am a investor and I gave my proxy as well as several of our friends and family to place a CRO into Harvest. I did this after I read the monitors report and contacted our lawyer who reviewed the monitors report. He and his firm provided us with a statement that clearly indicated how inappropriate Ron's actions were and they have stated that he will not escape charges by our securities commission who is currently investigating Harvest and that it would seem to them that this file will go to the RCMP for criminal proceedings.

I'm confused by how everyone has all these opinions but have not consulted with lawyers to get a professional opinion. Anyone, it seems to me who actually gets a lawyer because i didn't understand all the information in the affidavits and the monitors report cannot be confused as to how badly we have been harmed by Ron Aitkens and Roy Beyer.
thoughts on Beyond

Airdrie, Canada

#260 Apr 12, 2012
Ian.

I'm an investor and financial planner and I have gone to all the meetings and read the monitors reports, it's clear what has taken place and I am embarrassed by how little I actually knew about how our and my clients monies were squandered.

I also went to the Beyond The bond Presentation and the agents event that the former CEO held and I have no idea how people on this blog ( 2 bloggers) can say what they are saying. I also digitally recorded those presentations. The CEO never said he was he was going to be in the newly formed company to manage the projects he said he was going to place a new team in to manage the projects. He also said that any percentage of the new company equity that was issued to the management team was going to be earned and that the management team would attract money into the new company. Last point on this was that all of this had to be sanctioned by the court of queens bench and only after recording a third party fairness opinion. And yes, I took a copy of that presentation and if you want me to post the slides I can try and do that.

With respect to the comment around "firesale" aprasals, he stated and it's on my audio recording that the investors needed to know given there bonds were coming due what the fair market value of the lands were and that the executive land bank commissioned the appraisals and they showed the lands were worth aprox 55-60 million.

I also google searched him and there are over 10 article's on his history and as being pretty good (any one can search this) developer and those were articles from the major papers in Calgary, Edmonton, Winnipeg and Toronto. There is also an interesting paragraph on how he has never advertised and only deals with accredited investors, that sounds like a successfull track record to me.[unlike Ron's snake-oil sales history]

At the end of the day he's not there anymore and kind of like the presentation I went to in Calgary Ron has an amazing way of blaming everyone but himself, even guys who didn't raise and or make a cent off any of these projects.
Calgary Investor

Calgary, Canada

#261 Apr 12, 2012
Just read the latest affidavit from Kyle Brown posted on the monitors site here: http://bit.ly/HBuEJ8 It has a really good synopsis of things and if one takes the time to go through it in its entirety it will likely be enlightening.
libelous slander

Airdrie, Canada

#262 Apr 12, 2012
Hi,

Just a note to a couple posters on this forum, possibly a husband-wife team.

All IP addresses can be tracked to the source computer(s) making the comment(s).

A courtorder can force your ISP to provide investigators with your identity.

Only make factual statements on this forum, or if you make a statement but are unsure of that statement's validity then state so.

Govern yourself accordingly.
Anonymous

Edmonton, Canada

#263 Apr 12, 2012
Ron spent the meeting and the question & answer session trying to give excuses and mitigate all his errors by simply blaming our economy!
Shameless. Wake up people. A bad economy, no matter how bad, is never a viable reason to grant someone like Ron Aitken, the right to blatantly rip money out of secure land and invest it into risky assets out of the province, heck, out of the country, and all without investor knowledge OR permission!

So back to the meeting. Many excuses and mainly questions were answered with answers that didn't really answer the question. Mind-bogglingly frustrating!

Investors learned nothing new, or at least nothing not already presented by the UCC presentations. Well other than Noel Winters & Dave Murphy's work on the projects over the past 3 months.

Let's talk about Noel Winters. So he admits that he's been working with Ron Aitkens and engaged by the company since 2008! So he's not someone new -- why hasn't he developed any of the projects yet, especially considering their great "potential"...yet nothing has been completed in the last 5 years?!! The lame answer given was something along the lines of "no companies were developing in that time frame" but let's be honest here...Walton still developed, Western Securities and Qualico both developed; clearly it's just another excuse!

The Monitor told us that they are making Mr. Aitkens come up with Repayment of Funds from his company. I've interpreted that to mean the Monitor agrees the money should not have been removed in the first place. He actually stated it "needs to come back right away"!!

At the end of it all, how do we trust the current management after all this rigamarole? It appears that we are being fed the same old story, year after year, FOR 5 YEARS NOW!!
"Give us your money, trust us, we just need more time..."
How can we continue to swallow these obscene untruths?!

Now I understand fully why there is a push to get Ron Aitkens OUT!
Aitkens and his managment team are costing investors over $80K/month based on the Monitor's reports. The expected cost for a new CRO is only $20K/month. There is no negotiated profit lift and I think it's a pretty straightforward solution to this bull$hit scam we've ended up in the middle of.

...in my humble opinion.
Basil wrote:
I'd appreciate if anyone is able to provide details of last nights dog and pony show in Edmonton?
The general mood,how they plan on fixing this mess,where all the money went, do we own waterfront property at least in Panama?

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