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Looks like you can buy a piece of Seminole



 
 
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  #11  
Old July 20th 20, 12:12 PM posted to rec.aviation.soaring
Bob Youngblood
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Default Looks like you can buy a piece of Seminole

On Sunday, July 19, 2020 at 4:52:53 PM UTC-4, Bob Youngblood wrote:
On Friday, July 17, 2020 at 5:12:36 PM UTC-4, wrote:
This is on the SLGP web site.

Important Notice

Dear Friends,

Seminole-Lake is my soul business and for as long as I lived, my intention was never to sell it.

Due to family problems and COVID-19 issues I must take a decision about its future, therefore I’m determined to sell half of the business. Given that I decided to transform SLG and the real estate into a shareholder company which total value is $3,000,000.

From the 20 shares that the company will have, each of $150,000, I plan to sell 50%.

I’ll guarantee all shareholders a profit of minimum 4% cash or 5% in services such as parking, hangar rent, glider rental or tows. All of the shareholders’ rights will be respected according to the US laws (to participate in shareholders’ meetings, to come forth and make decisions with regards to increase the business, investment policy, usage of active assets all in accordance to the law).

I plan to keep 50% of the shares and my representative will be Angelica-Mihaela Luculescu, who will be mandated to represent me within the limitations of a power of attorney.

I also wish to add that Ms. Luculescu intends to purchase the remaining 50% shares, however until we decide the formalities between ourselves, she will remain my representative at the shareholders meetings.

The sale of the shares will take place on March 31st, 2021. Until then everyone interested should sign up with the office. I wish to note that there will not be additional shares sold over the 50% limit. This idea will not come into fruition unless all of the 50% shares are sold.

I set this deadline for March 31st, 2021 so that until then there’s enough time for negotiations, registering and to provide the necessary information that will convince you to become partners in this business.

Mihai Tanjala


Maybe the Romanian dictator should call Nevin Shapiro or Bernie Shapiro oe even Hunter Biden, they have enough cash to float a great deal. Bernie Madoff, sorry for the slip.

Ads
  #12  
Old July 20th 20, 03:01 PM posted to rec.aviation.soaring
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Default Looks like you can buy a piece of Seminole


What about a default agreement? Would that hold up in court if the property is confiscated by the US Marshall?


Obviously you would need to consult an attorney prior to any purchase such as this. I would not be overly concerned with Romania trying to secure the property if they have not already tried, I understand all is well with Mihai in the land of Vlad the Impaler according two one Naval Aviator. The bottom line is could you do better investing your 150K elsewhere and I think the answer is obvious. To match the market over time a 3 million dollar investment would have to be returning 300K per year profit. It would require a good look at the books.

Walt
  #13  
Old July 20th 20, 03:15 PM posted to rec.aviation.soaring
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Default Looks like you can buy a piece of Seminole

On Sunday, July 19, 2020 at 2:29:54 PM UTC-4, Stephen Szikora wrote:
Google Ponzi.


Not much chance of that, a Ponzi would require new and older investors over a period of time. Looks like this if done at all will be done at once. Will be interesting to see who if anyone buys into the deal, maybe Rich will become a 50/50 partner? The property owners on the field most likely have no need to buy in to support the operation as they should be protected contractually. The owner will have to maintain and operate the facility and if the economy goes to heck we all know how well such an operation would fare.

Walt
  #14  
Old July 21st 20, 01:27 AM posted to rec.aviation.soaring
Shaun Wheeler
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Default Looks like you can buy a piece of Seminole

A Florida land deal. What could possibly go wrong?
  #15  
Old July 22nd 20, 03:07 AM posted to rec.aviation.soaring
2G
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Default Looks like you can buy a piece of Seminole

On Monday, July 20, 2020 at 5:27:37 PM UTC-7, Shaun Wheeler wrote:
A Florida land deal. What could possibly go wrong?


I am certain that Mr. Tanjala, being such an honest and upstanding citizen (of Romania) would gladly provide 5 years of audited financial statements, tax returns, and an appraisal of SGP by a certified business appraiser.

Tom
  #16  
Old July 22nd 20, 10:42 AM posted to rec.aviation.soaring
Rakel
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Default Looks like you can buy a piece of Seminole

On Tuesday, July 21, 2020 at 10:07:49 PM UTC-4, 2G wrote:
On Monday, July 20, 2020 at 5:27:37 PM UTC-7, Shaun Wheeler wrote:
A Florida land deal. What could possibly go wrong?


I am certain that Mr. Tanjala, being such an honest and upstanding citizen (of Romania) would gladly provide 5 years of audited financial statements, tax returns, and an appraisal of SGP by a certified business appraiser.

Tom


Just like the Commander in Tweet ?
  #17  
Old July 22nd 20, 04:40 PM posted to rec.aviation.soaring
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Posts: 85
Default Looks like you can buy a piece of Seminole

On Tuesday, July 21, 2020 at 10:07:49 PM UTC-4, 2G wrote:
On Monday, July 20, 2020 at 5:27:37 PM UTC-7, Shaun Wheeler wrote:
A Florida land deal. What could possibly go wrong?


I am certain that Mr. Tanjala, being such an honest and upstanding citizen (of Romania) would gladly provide 5 years of audited financial statements, tax returns, and an appraisal of SGP by a certified business appraiser.

Tom


It would be quite foolish for anyone to buy into ANY business without a thorough look at the books and I would suggest a Forensic Accountant and they ain't cheap. Problem for SLGP is the glider community is quite small and everyone knows everyone else. Whether what we have heard is true or not may be in question but perception is everything. If Mihai wants to sell it he is going to have to let it go CHEAP and I mean CHEAP.

It might make a nice RV/Trailer park but I'm sure there is a contractural requirement that it remains a GP as per the homeowners on the field. It was easier for Knut to make a go of it with his wife running the office as all he needed was a tow pilot or an instructor. Our Romanian friend on the other hand needs an entire staff as he can do little to nothing himself. Even in a vibrant economy it might be a bit of a stretch for someone to lay out 3 million for the place. The stock market would be a better choice. JMHO.

Walt
  #18  
Old July 22nd 20, 08:27 PM posted to rec.aviation.soaring
Bob Youngblood
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Posts: 390
Default Looks like you can buy a piece of Seminole

On Wednesday, July 22, 2020 at 11:40:10 AM UTC-4, wrote:
On Tuesday, July 21, 2020 at 10:07:49 PM UTC-4, 2G wrote:
On Monday, July 20, 2020 at 5:27:37 PM UTC-7, Shaun Wheeler wrote:
A Florida land deal. What could possibly go wrong?


I am certain that Mr. Tanjala, being such an honest and upstanding citizen (of Romania) would gladly provide 5 years of audited financial statements, tax returns, and an appraisal of SGP by a certified business appraiser.

Tom


It would be quite foolish for anyone to buy into ANY business without a thorough look at the books and I would suggest a Forensic Accountant and they ain't cheap. Problem for SLGP is the glider community is quite small and everyone knows everyone else. Whether what we have heard is true or not may be in question but perception is everything. If Mihai wants to sell it he is going to have to let it go CHEAP and I mean CHEAP.

It might make a nice RV/Trailer park but I'm sure there is a contractural requirement that it remains a GP as per the homeowners on the field. It was easier for Knut to make a go of it with his wife running the office as all he needed was a tow pilot or an instructor. Our Romanian friend on the other hand needs an entire staff as he can do little to nothing himself. Even in a vibrant economy it might be a bit of a stretch for someone to lay out 3 million for the place. The stock market would be a better choice. JMHO.

Walt


The business valuation can easily be determined, net profit over a specific period could determine the goodwill. The next part would be FMV for plant and equipment. I honestly doubt that the value for all would come close to the asking price. My honest opinion is that if it were sold today it would be sold for a loss of the original purchase price.
  #19  
Old July 22nd 20, 11:48 PM posted to rec.aviation.soaring
[email protected]
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Posts: 85
Default Looks like you can buy a piece of Seminole

On Wednesday, July 22, 2020 at 3:28:00 PM UTC-4, Bob Youngblood wrote:
On Wednesday, July 22, 2020 at 11:40:10 AM UTC-4, wrote:
On Tuesday, July 21, 2020 at 10:07:49 PM UTC-4, 2G wrote:
On Monday, July 20, 2020 at 5:27:37 PM UTC-7, Shaun Wheeler wrote:
A Florida land deal. What could possibly go wrong?

I am certain that Mr. Tanjala, being such an honest and upstanding citizen (of Romania) would gladly provide 5 years of audited financial statements, tax returns, and an appraisal of SGP by a certified business appraiser.

  #20  
Old July 23rd 20, 05:42 AM posted to rec.aviation.soaring
2G
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Posts: 1,190
Default Looks like you can buy a piece of Seminole

On Wednesday, July 22, 2020 at 2:42:19 AM UTC-7, Rakel wrote:
On Tuesday, July 21, 2020 at 10:07:49 PM UTC-4, 2G wrote:
On Monday, July 20, 2020 at 5:27:37 PM UTC-7, Shaun Wheeler wrote:
A Florida land deal. What could possibly go wrong?


I am certain that Mr. Tanjala, being such an honest and upstanding citizen (of Romania) would gladly provide 5 years of audited financial statements, tax returns, and an appraisal of SGP by a certified business appraiser.

Tom


Just like the Commander in Tweet ?


Sure, JUST like that!
 




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