Sally
Full Member
Posts: 105
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Post by Sally on Mar 6, 2016 13:14:58 GMT
The K-1 inquiry is very interesting. We are involved in 3 different "clubs", 2 are associated with managers on Long Island, the third is with a club manager in MA. The 2 on Long Island behave differently in that one sends us a K-1 each year, the other has not sent one for several years saying it's not necessary since the SG became a C corp. The one that sends the K-1 is managed by an accountant - you can take from that whatever you want. Our MA club manager has gone mute, never hear from him.
I think I would tell the club manager looking for the $100 management fee his check is in the mail in 30-45 days, the SG 30-45 day calendar. I think he will get the gist of what you're saying.
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Post by vroom on Mar 6, 2016 15:41:50 GMT
There is no scenario where the treatment should be different for two clubs. Stuff like that is what drives me nuts about this thing.
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Post by berniemadoff on Mar 6, 2016 17:56:41 GMT
Holy shit !!!! Can you imagine investing in is and then having to pay $100 a year fee ? I'm actually starting to feel sorry for some people here .
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Post by jeremynh on Mar 6, 2016 18:54:58 GMT
Holy shit !!!! Can you imagine investing in is and then having to pay $100 a year fee ? I'm actually starting to feel sorry for some people here . Bernie, why? It is highly entertaining! But no worries, SG will surely refund everyone. After having repaid treble damages to Hino, having paid out disgruntled investor Fournier and having paid 3% of every sales dollar generated in power generation. But rumour says there is more news ahead, a big private equity fund is jumping in! The raise is likely closing. Within the next 30 days. in Scuderi terms. It makes no sense to wait for you to invest! Great entertainment. I am waiting for the next season: season 48 or so. It always starts with a great investor letter: Dear (stupid and annoying) investor, we are so busy, exiting... Great progress. My conclusion: More value for money than your HBO! And I can't wait for the final episode. Everyone can guess if it will be an IPO. |
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Post by gman on Mar 6, 2016 19:03:16 GMT
No need for K-1's once SG became a C corp. SG sent out update to many investors once change from LLC to C corp was made.
Surprising that something as simple as K-1 clarification would not be understood by some investors and/or club managers and their accountants.
First week of March has passed and very disappointing to have no news or update from SG. No excuse for it. From my prospective, indicates progress is not going well. SG needs to communicate with their investors within next couple weeks to give update on company whether positive or negative news.
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Post by berniemadoff on Mar 6, 2016 19:34:45 GMT
Jeremy,
I hope the final episode ends up exactly like seinfelds. Hahaha, now that is funny...i kill me ( oh no, not again !!!! )
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Sally
Full Member
Posts: 105
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Post by Sally on Mar 6, 2016 20:45:58 GMT
Tick tock
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Post by berniemadoff on Mar 6, 2016 23:17:51 GMT
I may just rise from the grave and organize a little get together at the scuderi office some morning. Bring some signs, some bullhorns, maybe a newspaper or 2. We can all spend the morning getting to know each other. I'll buy the coffee ( I can afford to )
Thoughts ?
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Sally
Full Member
Posts: 105
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Post by Sally on Mar 7, 2016 12:28:57 GMT
I'm in Bernie if only for the opportunity to meet you.
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Post by jeremynh on Mar 7, 2016 17:54:56 GMT
Bernie,
The Scuderis are looking forward to meet you in person.
There are so many commonalities. Sal's wife has the same first name! All the wonderful investment vehicles set up to invest in SG look also a bit like your feeder funds. And of course both of you hate financial statements.
I am in.
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Post by vroom on Mar 7, 2016 18:13:16 GMT
I love the daylight between no info available for investors, but we are ready for an IPO (um you need 3 years of audits).
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Post by vroom on Mar 7, 2016 22:12:19 GMT
Let's get basic - is there even an office?
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Post by wb2ymc on Mar 15, 2016 0:21:53 GMT
so quiet you can hear a mouse peep.
...but as they say no news is good news (I hope)
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Post by vroom on Mar 15, 2016 0:30:58 GMT
In this case, no news is another day passed toward the statute of limitations.
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Post by wb2ymc on Mar 15, 2016 18:00:59 GMT
My feelings are that the Scuderi Group is keeping it low for now. Either they have a lot cooking (I hope) and are waiting for the right time to announce some very good news or they don't have any thing ready for our consumption.
My advise to you is to hang in there but don't quit your day job just yet.
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