February 3

Protected: 220 Update February 2023


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220 Shareholder

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Protected: 220 Nov 27, 2022 Update

Protected: 220 Nov 27, 2022 Update
  • OK here we go again. Sounds like we almost had an offer a few weeks ago, then it disappeared in the Canadian atmosphere. Must have been linked to the Chinese spy balloon? Kind of like almost winning the lottery. Does anyone know the name of this US based company, or has the company even been created?

    • Marshall, if you go and read the past blogs you will see we talked about Metroconnect and Ioticiti. these are the companies or same company we have been dealing with.
      if you have more questions please contact your managing partner directly.

      • The only person representing the investors that is participating in the meetings with Lou and Ioticiti is Lloyd. Can we please get a response from Lloyd so we really know what is going on? After months and months of speculation, Lou is the only guy who can tell us what transpires. Clearly, you talk with him. Let’s cut the middlemen out (they don’t appear to know anything) and have the person heading up our negotiation team give us a real update. Just curious, why do we only have one person (Lou) representing us in these negotiations? Not fair to expect him to carry all of the burdens. As far as asking our managing partners questions, that is a futile effort. They have not been seen or heard from in years.

  • I for one am getting tired of them dangling carrots. They don’t seem to have any since of fairness. They know that they have no competition for what we are offering so they are taking their sweet time while we have to sweat them out.
    There, I got it off my chest.

    • This is like the trick where the magician hides the bean under 3 cups and constantly moves the cups around so you never know where the bean is. It feels like we have been “played” by Lou for the last several years. Something is going to happen “tomorrow” but then it never does. Can anyone provide examples of where Lou did meet a commitment or promise? To my knowledge, we have never gotten anything in writing from him. Always verbal promises and then no follow through. So this “switcheroo” from a Canadian company to a US-based company is just the latest example. Promises an offer before Christmas and then we get nothing. And we never hold him accountable with penalties for non-performance. Is there no one in that company who can negotiate in good faith? Maybe we could figure out a way to get a little leverage so we can negotiate from a position of strength instead of always just accepting their delaying tactics. Do we know what the “market value” of our assets is? Otherwise, how do we determine whether what they consider to be a “fair” offer isn’t really a lowball offer? I would love for one of the managing partners involved in the negotiations to offer their opinion or rebuttal. Way too many red flags on this deal. I hope for the best but always prepare for the worst.

      • Did you send an email to Dan Tveite asking him this? I always deal directly with him and he is awesome at responding with any info he has. If I recall, way back there were a few times that Lou did come through in a timely manner with what he said he would do/find out/etc. Keith his email: dptveite@gmail.com

      • John, the only time I can really say Lou followed through is when we got access to the data room. We were told the data room would be expanded but that has not happened.

        • Getting access to a data room is a pretty low bar for meeting a commitment. What good did that do us? He has an awful track record over the last 3-4 years. And he continues to play us. What is the key event that is going to make them come to the table with a “real” offer in writing? All we have gotten over the last two years is unfulfilled promises of an offer, then time after time he weasels his way out with other diversions. The latest example was his promise of an offer by Christmas with Canadian stock, then at the last minute changing the offer to a mystery US company with no timetable for completion. More smoke and mirrors. I understand this is just as frustrating for you. My understanding is that we have over 100 accredited investors. Collectively, this group has to have some pretty smart people. I know there are more than a few lawyers. We are being taken for a ride. Until we band together and bundle our interests so we can gain some leverage, we will always be the sheep in this relationship with Lou.

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