Been there Alberta

Edmonton, Canada

#709 Jun 10, 2012
We gnash our teeth and flail our arms - to what avail? Why does everything move so slow? Why are there now more questions than answers?
The judicial process that has been evidenced by us investors is designed to enhance the billing hours for lawyers and accountants. Aitkens rights and interests are being protected. NOT the investors. We are at the mercy of a court system (and particularly in the case of Romaine)that has no compassion for our plight, but only to assess points of law. E & Y are doing what they do best - invoice. Communicating with you about YOUR money is not high on their list. Even if it is billable.
The ASC allowed these companies their exempt status and then abandoned the investors once the s**t hit the fan. Now they say it is a civil matter. Any issues that are emerging that point toward fraud or legal wrong doing seem not to matter. Folks - our system is Alberta is dysfunctional. That is what needs changing.
We are certainly not alone in this miscarriage. Look at all the other losses in the exempt market arena. Many of us are in more than just the Harvest mess.
Why the ASC and the RCMP do not collaborate on these matters when criminality seems to arise, is a mystery unique again to Alberta.
Push for change.
Ernie

Meadow Lake, Canada

#710 Jun 10, 2012
One thing that really pisses me off is people like these idiots and others leading me done the good old proverbial "GARDEN PATH" especially since the advent of the computer and the information highway. Thanks to a couple of people who are more computer savvy than I, I have everything I need at my finger tips. Also I have gained an insight over the years about people in general and I have fought a battle with an insurance company a few years ago and won. I am not here for myself, never have been, never will be, and never have been throught my over 60 years of life. So folks we need to get a serious plan in place and start a legal action starting with the King of this horseshit pile right down to E and Y for not doing the job that is required (that is representing the interests of the investors). All Directors of all companies that have even smiled at Ron should be included. The horses are bolting so lets bolt the frieging door and fast. So let all of us get on board this train and put up a hell of a fight. Contact me cause I cannt do it all. Anyone who chooses to send me down the "GARDEN PATH" move over or the BULLDOSER will get you in the end!
Ernie

Meadow Lake, Canada

#711 Jun 10, 2012
Just as an aside, the definition of "Arms Length" is as follows:is the condition or the fact that partiesto a transaction are independant and on equal footing". I will let you be the judge,jury and hangman in this case.
Hang em High

Edmonton, Canada

#713 Jun 11, 2012
To all of you investors who may be still loyal to Aitkens and his crew, I want to sarcastically give you a big "Thank you" for your "No to the CRO" vote. You have allowed Aitkens the time to no doubt move even more of our money to wherever, and basically tie the hands of the UCC.

Maybe you loyalists can all chip together and give the rest of investors all the money that has been wasted or absconded with since the vote.

If you still have your loyalty at this point you are obviously not paying attention to what has happened over the last six months, and what is happening right now! Please remove your head from your ass and pay attention.

Even though your vote (which influenced the Judges' decision)has rendered the UCC basically powerless, I would like to give my hearfelt thanks to all of the UCC members for their efforts to hold Aitkens accountable for his actions. Without them we would have been even more screwed than we are now.

It dismays me that somoeone has not removed this man from still having power over our investments. I think the Government, the ASC, and the Justice System all share the responsibility for allowing Aitkens to operate in this fashion. Let's hold them accountable as well!

paul shykora ARTs

Calgary, Canada

#715 Jun 11, 2012
..THEN You's are just as much a...Financial-fake,here...eh.. (-)..

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WTF

Edmonton, Canada

#716 Jun 11, 2012
paul shykora ARTs wrote:
..THEN You's are just as much a...Financial-fake,here...eh.. (-)..
Can anyone understand what this means?

Since: Mar 12

Abbotsford, Canada

#717 Jun 11, 2012
Someone that has no stake in the real conversation, maybe it's Aitken eating crow!
Ernie

Meadow Lake, Canada

#718 Jun 11, 2012
Who ever that is obviously is out trying to have fun!!!!!! Or has recently escaped from the local hospital. Hang em you hit the nail on the head with your earlier post. We need to ensure that we get our Governments, all across Cananda to ensure this shit never happens again in OUR country. It is gonna be work but please folks start making noise to your local officials not to the securities commissions because they will protect their jobs before anything else that might show them as slack ass members of buracrusy protecting their big pay cheques and union pensions.
Hang em High

Edmonton, Canada

#721 Jun 12, 2012
I did some checking on line about the dysfunctional Crown Corporation called the ASC and was outraged at how much their executives pay themselves. No wonder Premier Redford wants a raise for governing the whole province and it's finances.

These numbers are from the ASC 2011 annual report. EOE.

Position Base Salary Total Cash & Non
Cash benefits

Chair, ASC 495,000 $709,000

Executive Director 323,000 $522,000

Vice Chair, ASC 295,000 $453,000

Other Vice Chair, ASC 295,000 $425,000

Independent Members 532,000 $532,000

Note that this is for executives ONLY. Other staff salaries can be verified.

Independent members receive a $10,000 annual retainer,$2,500 for committee memberships,$5,000 for committee chairing, and $5,000 for the Lead Independent Member position. Meeting attendance fees include $1,000 for an ASC meeting, and $750 a day for a committee meeting.

Hearing fees are payable to $1,000 per hearing day and $125 per hour for preparation , review and decision writing .
Seriously, check Larry Elford's website at albertafraud.com

Larry as a list of Exempt Market Securities that have failed or are failing in Alberta, screwing investors out of about $1.5 billion dollars so far. Harvest & Foundation are by far the largest both in dollars and number of investors.

Check out this statement which is also from their annual report of 2011.

The report says: "In overseeing Canada’s second-largest capital market, the ASC aims to respond quickly and effectively to the needs of market participants.
We're focused on maintaining a healthy investment environment where all can invest and raise capital with confidence."

Yeah, you've done a great job letting companies raise capital, but a shitty job in policing them. We can invest with CONFIDENCE. What a joke that is, only the joke's on us!

Nice going ASC!!!

Hang em High

Edmonton, Canada

#722 Jun 12, 2012
Forgot to mention, if you look at that failed securities list on Larry's website, I think you'll find a good number of them that were pushed by Pinnacle Wealth Brokers.( Previously Alberta Land Investments). How are they still in business after selling so many failures!
PAUL SHYKORA arts

Calgary, Canada

#725 Jun 13, 2012
...HEY...dHere are ...hundreds of sleazy-companies...who have ..''shafted'' $$$...persons...eh..

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Person of Interest

Calgary, Canada

#726 Jun 13, 2012
The last two posts were made by someone who appears on many, many topix forums. I wonder if other forums have the same opinion.
Hang em High

Edmonton, Canada

#727 Jun 13, 2012
Someone posted a while back that Harvest had one fluke success. I'm wondering what that was since I can't find anything like that.

I do notice in Harvest updates that West Springs Village was to pay a quaterly dividend in early May. Was that it?

According to the SUFs for Legacy there is a promissory notes for a total of $1.94 million from 125 for Liberty Crossing. Of course 125 is in CCAA so that note is worthless. So does that mean that Legacy has a claim against Liberty Crossing? How is that mess going to be sorted out?

As the rest of the companies go into CCAA, I wonder if any of those might have money owed to them from West Springs Village?

Any investors from West Springs or Liberty should be paying attention here! What a mess.

Rodin, any thoughts?
Rodin The Thinker

San Anselmo, CA

#729 Jun 14, 2012
Hang Em High: It is worse than what you noted. If you look at the E & Y site where they now have the list of creditors for 125, 133 and Harvest, you can see the emerging pattern of monies owed to and from each project and various Aitken's holdings. There is no possible proposal that will resolve the debts except liquidation and once that begins there will be cross lawsuits among each project to recover what is owed to the other project. The concern is that some projects are owed money from another project but no one will make the claim as there is no independent representation for a project. For example FROG is owed upwards of $69 million from Harvest and probably from other of Aitken's companies.
Note that Harvest owes money to Lethbridge Mobile Shredding. Wonder what got shredded.
The ASC is an organization to enrich cronies of the government. The same work is done by the Saskatchewan Financial Services department where normal government salaries are paid. It actually was the first to clamp down on Aitkens.
All the companies need to be under CCAA then the investors need to take control of each project. Unfortunately there is still going to be the situation where one project sues the other for money that was mixed up.
Question

Devon, Canada

#731 Jun 14, 2012
There appears to be some justice in a 5.9 B ponzi scheme reported in today's Calgary Herald pg D2.
Hang em High

Edmonton, Canada

#734 Jun 14, 2012
paul shykora ARTs wrote:
<quoted text>..yes ..global...famous artist and such...eh..yada u u (+)..shalom....$$$...and, getting out speech-therapy-pathology,for the world's..children...
Seriously Paul, are you on crack? Take a hike NOW!
Sandy

Lloydminster, Canada

#735 Jun 15, 2012
Can anyone give me a brief synopsis of the pile of legal diocuments legacy investors received from E&Y yesterday. I'm not a lawyer and not 100% sure what exactly I'm voting on
paul shykora ARTs

Calgary, Canada

#736 Jun 15, 2012
Sandy wrote:
Can anyone give me a brief synopsis of the pile of legal diocuments legacy investors received from E&Y yesterday. I'm not a lawyer and not 100% sure what exactly I'm voting on
..WAKE-UP Sandy....you's will ''never'' know,here...OH LOOK at the fake-names,here....and yet you ''think'' dHat they are ..100%..honest,here...giving you 100% honest information...whew...eh..(-)..

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Hang em High

Edmonton, Canada

#737 Jun 15, 2012
Sandy, the UCC now has their analysis of the plan on their website, although they are neither for or against the plan, that is up to each investor. The Monitor is reccomending the plan to avoid insolvency proceedings. However, you must also weigh the risks of accepting the plan.

Here is the link for UCC, it is under that Communications tab.

http://www.foundationinvestorsucc.com/
paul shykora ARTs

Calgary, Canada

#738 Jun 15, 2012
..WAKE UP ..It was ''always'' up to the ...Investor,here....eh....wake -up,and take some SELF-RESPNSIBILITY...eh...

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