Foundation Capital Harvest Group of C...
Investor from the North

Grande Prairie, Canada

#646 May 24, 2012
SpitFire - what about the bonds on the projects that are not yet due (eg. Stoney View and Rockyview)that we know little of their progress? Any ideas/insight on FROG???

Since: May 12

Location hidden

#647 May 24, 2012
Spitfire: Great idea. Have a group hire a lawyer to set out the claim in a manner a judge can understand, put the evidence and law in a package, get the Plaintiff polished in a presentation and file the first suit. See how it goes. If it fails, correct it and start a second and so forth. Once the format for one has been developed and succeeded then have thousands sue.
You could keep Aitkens in court for the rest of his life.
Hang em High

Edmonton, Canada

#648 May 24, 2012
Rodin & Spitfire. If the first attempt fails in small claims, can you refile the same claim with better evidence, or is it a one shot try? Does anybody know?

Since: May 12

Location hidden

#650 May 24, 2012
Hang Em High: Each person gets 1 shot per contract but many signed up for more than one project. If you lose, the loss is only against Aitkens not a total loss. Also if it was done as group effort the failure rate would be low as the group will get better in its court arguments as each consecutive person appeared.
As for FROG well records is there a government agency that you can ask that if you give them a name they give you well record and royalty payments for that name.By the way the FROG offering memorandum says they WILL give financial reports. As they supposedly filed tax returns, there must be financial records. Audited statements are not needed as probably nobody will ever get audited statements because no auditor will touch this mess.Any financial records should be produced.

Since: May 12

Location hidden

#651 May 24, 2012
If you go to the Ernst & Young document center website you will see that they posted the consent order following the May 10 hearing. Read it as it sets out time lines that are leading to the monitor suing Aitken and companies for the missing money, cutting Aitken and cohorts fees, taking control of the reorganization efforts and firing his consultants.
The hearing went well for the creditors as it sets out the path to tighten the noose.
Hang em High

Edmonton, Canada

#652 May 24, 2012
For those of you who bought this crap from Pinnacle Wealth Brokers, here is a link to an Alberta Venture story about that company under it's old name Alberta Land Investment Brokers.

http://albertaventure.com/2010/01/the-un-brok...

Give it a read, almost every product he was flogging at that time has failed. This is directly from the article.

The ventures ALIB (a name Zurfluh says will likely change this year as the company rebrands itself and outgrows its provincial namesake) is flogging right now include Harbour View Landing, a residential development in Comox, B.C.; Evolve Opportunity Fund, which buys and holds apartment buildings; the Life Settlements Debenture Offering from Calgary’s Focused Money Solutions Inc., which purchases life insurance policies from holders no longer in need of them or unable to pay the premiums; Arizona Acquisition Fund, a Calgary-based buyer of recession-ravaged property in the southwestern United States; and Canadian Horizons Blended MIC, a mortgage holder.

Almost all of these have failed and there, are lawsuits pending. Most of the products on his shelves are this crap. This is one agency that needs to go down for sure in this fiasco.

I wish Ab Venture would do a follow up story on all the crap investments they have sold. Maybe I can get them to do just that.

Perfect exapmle of a broker flogging bullshit securities for commissions not looking out for the investors.
SpitFire

Regina, Canada

#654 May 25, 2012
Investor from the North wrote:
SpitFire - what about the bonds on the projects that are not yet due (eg. Stoney View and Rockyview)that we know little of their progress? Any ideas/insight on FROG???
For the bonds which have yet to come due, the only option is to wait for Foundation to default on those too but there's no reason you can't get everything ready and file once their due date has passed. Foundation will, as they know their game well, throw those under CCAA protection slightly before the due date but again, it's Aitkens and whovere else is on your OM that you want to name. Each "project" will have it's own "reason" for not being paid out, you'll have to figure out how and why the contract was breeched.
For FROG, my understanding is that they were hitting dead lease sites that had been tried numerous times. Unfortunately those sites are on public record and if that is true, aside from being evil, cruel and sleazy, not much can be done. The interesting thing is that their have been rumours that Foundation is being sued for not paying the drilling companies. If that's the case, where has all the investor money gone??? Personally I have no interest in FROG, so only have read things through my digging into Foundation.
Concerned

Calgary, Canada

#655 May 25, 2012
I found this about Shire, boy does it sound eerily similiar!

http://cto-iov.csa-acvm.ca/ArticleFile.asp...
Concerned

Calgary, Canada

#656 May 25, 2012
Oh and here is their blog.

http://shireinvestor.blogspot.ca/
Wow

Edmonton, Canada

#657 May 25, 2012
Hang em: Good work. Do you know status of Harbour View Landing in all this mess?
Other projects

Edmonton, Canada

#658 May 26, 2012
When people got in these projects did you ask what happens at the end of the project and the bonds can't be paid?
I did, and the answer I got was that they would be extended, with land you may have to wait.

I wasn't told the truth there, nothing about the DIP and the high fees that would have to be paid for land to sit.
Wow

Edmonton, Canada

#659 May 26, 2012
How can we find out if $$ raised for other projects that aren't under CCA are still invested in the individual projects or if they as someone suggested, been raped" as their bonds have yet to come due???
Haditwithyouclow ns

Calgary, Canada

#660 May 27, 2012
I'm think we all are pretty confident funds have been shuffled around like a deck of cards, that even Donut Aikens doesn't know where or what they were used for. The monitor couldn't get these guys to support their agreument and supply them with a decent set of books, they certainly aren't going to give us any!!!! Not that we haven't asked, I'm still waiting for the books from FROG, I can't wait to see the debauchery that investment is in!
Wow wrote:
How can we find out if $$ raised for other projects that aren't under CCA are still invested in the individual projects or if they as someone suggested, been raped" as their bonds have yet to come due???
Norma

Calgary, Canada

#662 May 28, 2012
That's hysterical Steve!!
Steve S wrote:
Oh look, some old faithful follower of this clown must of been back on the forum as evident from the above five comments with 'lightbulb and lemons. Yea the only thing that's a lemon around here as we've all come to know is The Harvest Group and the idiots that flogged this shit!!
Go make yourself useful and do us all a BIG favor and see if you can find where all our money went and report back!!

Since: May 12

Location hidden

#663 May 30, 2012
Go to Ernst & Young Document center under motions and also monitors report. They have filed for a hearing on May 31 to extend the stay on 2 projects to June 8th. Aitkens will be quitting as director and a new board installed.
If you want to really do something get on the board. You can direct the lawsuits against Aitkens and the persons who sold the projects plus cut costs of the carrying. You will need to know what directors will be paid and reimbursed and their liability. A lot of the investors should not get a free ride, the passive do nothings..
As an insider you will get a lot of information.
Note that monitor says there were a lot cash transactions, that is, Aitkens used the projects as a piggy bank. I think this indicates fraud on the companies in particular criminal activity or tax evasion.
Ernie

Meadow Lake, Canada

#664 May 31, 2012
Anybody know what we need to do if we want to be on the board and help control whats left
Nelly - Chilliwack

Chilliwack, Canada

#665 May 31, 2012
Ernie wondered where you had gone to. Just wondering if your lawyer had any insight and if there are any developments. I did look through Ernst and Youngs monitor report and the requirements are quite stringent. Certainly not looking for lay people to jump on board from the looks of it. Look up the monitors fifth report on the UCC website. Sure is quiet around here! But we're all still broke from the looks of things!
Ernie

Meadow Lake, Canada

#666 May 31, 2012
Hi just looking over the lists of creditors on the monitor site and noticed Dick Deweert has invested almost 150,000. bucks in these. I'm not convinced that some how he will manage to get his money. He started the Miracle Channel but was forced out supposedly because of an affair. He is closely associated with both Ron and Roy. He was trying to start up a program and they were to be guests but when the ASC nailed them they choose not to appear. HMMMMMM Check it out it makes for interesting reading. Do NOT read at bed time cause it really isn't a bed time story and you will be just pissed off and not be able to sleep!! LOL
postman56

Calgary, Canada

#667 Jun 1, 2012
Another date has come and gone without any solid strategic information on the restructuring of this investment (FROG) should be call "DOG!!
3000 plus investors, 69 Million raised, 40 million LOST!!
How much more of this investment will be pissed away by evaluations on previous ,evaluations,management fees, partnership agreements,law suits,lawyers and Aikens! Is there anyone positive about this firm..YIKES

"CALGARY, ALBERTA (March 26, 2012)— Foundation Group Capital Trust (“FR” or the “Trust”)
Within the next month, we expect to make further announcements regarding the new strategy for
growth and eventual liquidity. Also, we intend to hold investor meetings to explain this strategy in detail
and to answer any questions you may have. We will release the dates for these meetings as soon as they are set.
Ernie

Meadow Lake, Canada

#668 Jun 1, 2012
Hi to those of you who contacted me. I have been away and sufffering the flu but I have not forgotten. I am working on something that I will share with those who contacted me hopefully early this next week. I have you in my e mail and set up as a group so I will let you know. Hang in there cause the shit will hit the fan.

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