On Sunday, August 9, 2020 at 8:48:13 PM UTC-4, 2G wrote:
On Saturday, August 8, 2020 at 5:44:30 AM UTC-7, wrote:
On Friday, August 7, 2020 at 11:25:04 AM UTC-4, 2G wrote:
On Wednesday, August 5, 2020 at 11:01:48 AM UTC-7, wrote:
Hi Walt. From another former tow pilot. Seminole was doing a rip-roaring business until covid-19 hit. There's money being made there. It's just not being spent where it should be.

That is pure speculation. SLGP has not released any financials, let alone audited financials, whatsoever so we don't even know if SLGP has been profitable and for which years, or by how much. These are essential for any serious investor - omitting them means this is just a trial balloon to test how many suckers there are out there.

Tom
SLGP would not be obligated to release any financial information to anyone other than those buying in. Of course it would be most prudent to have on your side a Business/Real Estate lawyer and of course have your own accountant do a complete audit of the books to establish profitability. I would assume that one would be sharing in the profits at the end of the quarter/year commensurate with their percentage of ownership, perhaps along with the four percent dividend that Mihai guarantees? If NOT then in my Constitutionally protected opinion it would be stupid to purchase any shares. The real telling point will be how many shares RICH buys.

Walt

The very brief offering (sets a record for the shortest prospectus I have ever read) makes no mention of disclosing financials to prospective buyers, only a vague mention of a 4% rate of return. This, in itself, raises concerns: how can any business partnership guarantee a rate of return, especially in the very uncertain times we are in now? This is commonly done in closed-end funds by selling principle to generate cash payments to shareholders, but that would mean selling assets such as aircraft or hangars for SLGP. It sounds more like an aspiration than a guarantee. And then there is the bizarre statement that SLGP will follow all US laws as if that is optional. I strongly urge anyone who is interested in investing in SLGP demand to see audited financials (I doubt that any audit has been performed, but do not know), and unaudited financials should be viewed with a strong dose of skepticism.

Tom

While this does resemble a closed end fund type of transaction simply in that there are a limited number of shares being offered, these will most likely not be sophisticated venture capitalists stepping in to buy. Pursuing a public listing is a very expensive option and very demanding in terms of legal, auditing, and disclosure requirements. I'm not sure that is what he is trying to do but a prudent investor as I have said would insist on an audit by an independent concern. Looks like an attempt to raise some cash and maintain status as an owner until Ms LUCULESCU pays off her loan which appears to be thru him. Okay, I'm in for the same number of shares that Rich buys BUT the investors must be granted 51% ownership and even at that I can see lots of ways this situation could be problematic. Just my humble and Constitutionally protected opinion.

Walt