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  • Profile photo of draaagondraaagon
    Participant
    @draaagon
    Join Date: 2006
    Post Count: 5

    Hi B-town007, thanks for connecting, I’ve emailed you back.
    Anyone else who has invested, there are no reasons not to connect with other investors. We all made the same less than stellar investment decision.
    There can only be something to be gained from strength in numbers, nothing to be gained from going it alone.
    Dark times, these.
    If you’re sick of this situation impacting on your finances and family, at least connect and give yourself more options.
    The other road is apathy and say goodbye to your investment.
    Message me anytime and I’ll put you in touch with others who’ve already contacted me to date.
    Cheers.

    draaagon
    Email Me

    Profile photo of draaagondraaagon
    Participant
    @draaagon
    Join Date: 2006
    Post Count: 5

    Hi Ripkeda,

    I think the legal action you refer to was the project that Cash Flow Gold, Jason Simpson marketed, but didn’t develop himself.

    I invested in Watford City, the project in which CF Gold was the developer too.

    Some of us have contacted me, another investor just last week. We’d have more strength in numbers of increasing our chances of getting out money back.

    $50,000 a share is a lot of money.

    Again I invite the investors who bought 6 and 10 shares to make contact.

    Jason can’t delay forever. If he doesn’t sell the land when oil goes up and pay us back, we can sue him to do so.

    We collectively have a better chance of pushing him for transparency.

    What is the collective debt owed to investors?

    What is the current value of the land minus encumbrances?

    I’m watching him closely as expect others are.

    Others out there, I invite you to network. We’ve been talking by phone too.

    draaagon
    Email Me

    Profile photo of draaagondraaagon
    Participant
    @draaagon
    Join Date: 2006
    Post Count: 5

    Hi Ripeka,

    I was not aware of any legal action in the US to recover investments in the Baken Saga. Are you referring to CF Gold specifically?

    To date, I have not joined any legal action, the reasons being:

    1. Jason continues to give monthly updates on his efforts to get a loan to pay out investors.
    2. If 1, above, eventually works out, it will save a lot of legal wrangling (and personal drama, time, cost etc)
    3. It might actually be counterproductive to sue the guy if he’s genuinely trying to work out a means of settlement. If he is trying to get a loan and has to deal with a court case, he might decide it is all too hard and go bankrupt.

    He’s trying to pay everyone back what they invested, so in any case, it wouldn’t be a good investment, as the opportunity cost would be great, even if he achieved this. However, getting the sum invested back would be infinitely better than nothing at all.

    I would be interested in networking with other investors who are in a similar boat to just share info for now and I’m holding off on legal action but I’m not going to wait forever and I am not ruling out legal action at a later time (especially if he stops being communicative).

    Collectively, it would be useful to share any info beyond the monthly updates so we all are aware of details any one of us might know regarding getting our money back. Also we would be much stronger collectively if it ever gets to launching a class action or legal recourse of that nature. If you have not given up getting your money back, and you have a stake in this, you should post here.

    If anybody in the same boat wises, I can be contacted by calling 08 9467 3377.

    Please leave a means of contacting you and I will share everything I know. I will also share my real details once we are personally in contact.

    Thank you.

    Draaagon

    draaagon
    Email Me

    Profile photo of draaagondraaagon
    Participant
    @draaagon
    Join Date: 2006
    Post Count: 5

    If any other investors went in as part of this and are nervous right now,please post here. We could network and maybe explore some legal options together if the proposed finance solution doesn’t pan out in 6 weeks. I know 1 Investor bought 10 units .Perhaps she would like to make contact.

    draaagon
    Email Me

    Profile photo of draaagondraaagon
    Participant
    @draaagon
    Join Date: 2006
    Post Count: 5

    H Unlucky, I alsoinvested in this Watford City North Dakota deal in multiple shares in the LLC.

    I’m also very nervous. I spoke to Jason last month. His responses are not as prompt as before and he says he’s under a lot of personal strain.

    Latest is he says he’s going to get a loan to pay all investors back just their investment. No money left for profit. Says it’ll take 12 weeks to complete, that was 6 weeks ago. I’ve not heard anything since.

    Jason would rather take emails than phone calls.

    If anyone else is in the same boat and would like to explore ways in which we could possibly safeguard our investment collectively please do share.

    Perhaps see if this loan pans out over the next 6 week and legal recourse options if it doesn’t?

    draaagon
    Email Me

Viewing 5 posts - 1 through 5 (of 5 total)