Theme Park coming to Williams (Phoenix: loan, civil lawsuit, legally)

[exlexisnexis]

When will the theme park open its doors? ( lots of information on new website)
Grand Canyon Land Company: Frequently Asked Questions
The dates are in place folks!!!!!!!!!!!!!!!!!!

2008 - Financing
2009 - Design
2010 - Build
2011 - Build
2012 - Open

[kdog]

Originally Posted by exlexisnexis

2008 - Financing

Guess they're behind schedule already.

[exlexisnexis]

#152 Today, 04:21 PM
kdog
Bullish on Kingman


Guess they're behind schedule already.

I am not a betting man but if I was I would bet that you and some other posters will be finding fault with everything about the Theme Park even long after it is up and running.

[LBear]

Originally Posted by exlexisnexis

W

2008 - Financing

Originally Posted by kdog

Guess they're behind schedule already.

2008 - Financing during a great depression....

HA!HA!

If they think that someone will finance them during an economic disaster, they are smoking crack!

Watch, I bet you that by mid 2009, they will announce that they are NOT going ahead because of lack of $$$$. It will be put on hold, indefinitely.

[kdog]

Originally Posted by exlexisnexis

I am not a betting man but if I was I would bet that you and some other posters will be finding fault with everything about the Theme Park even long after it is up and running.

Oh, I have no problem whatsoever with the theme park. In fact, I'm rooting for the theme park. I'll have the family there so fast it will make your head spin. However, I'm also a realist. Get your head out of the sand and take a look at the present state of the economy. I'll bet you a cyber-beer this thing never sees the light of day.

[bluepacific]

Originally Posted by LBear

2008 - Financing during a great depression....

HA!HA!

If they think that someone will finance them during an economic disaster, they are smoking crack!

Watch, I bet you that by mid 2009, they will announce that they are NOT going ahead because of lack of $$$$. It will be put on hold, indefinitely.

How about this potential scenario of an Investors Newsletter.

Dear Investors,

It pains me to inform you that in an effort to increase the necessary funds for the completion of our project, we , on the advice of a former money management consultant, we piggybacked your investment funds in both the Bernard Madoff Investment Company and Nicholas Cosmos' Agape World Inc. Both have failed us miserably and we therefore tried to take out a second mortgage the land we own for the project, but due to devaluation of real estate across the nation, the land is only worth a fraction of what we paid for it. All is not lost however, but we do anticipate a decades long delay before we actually know where we stand.

Regards, Management

Seriously though, I don't see anything positive happening for ANY type of investment scheme these days ANYWHERE and the fact they are searching for more funds would be a definite Red Flag for me.

[LBear]

Originally Posted by bluepacific

Seriously though, I don't see anything positive happening for ANY type of investment scheme these days ANYWHERE and the fact they are searching for more funds would be a definite Red Flag for me.

This is off their web-site:

The purpose of raising capital at this stage is to either purchase land or fulfill our option obligations of the land. The amount which needs to be raised is $1,750,000 and this is being done by an issue of 35 units. Each membership unit is USD $50,000.

1 - How much is the investment?

Your investment is $50,000 USD. This $50,000 per unit shall be repaid to when The Theme Park Company (GCNAE LLC) pays the contracted price for the option on the 130 acres required for the Theme Park. This will happen when the Bond is taken down and is expected to be within 24 months. At this time all interest payments, as outlined below, shall cease. The ownership of the membership unit remains.


Read the part in bold again.
"At this time all interest payments, as outlined below, shall cease." They have repealed the 7% interest they first promised.

They also removed ALL telephone contact #'s from their site. This thing is seriously looking like a possible scam or another possible" Madoff-type" investment scam. How could they just randomly repeal the 7% interest the originally promised their investors?

I hope exlexisnexis is using extreme caution when they are promoting this deal. For if & when it shall fail, some might legally and financially hold exlexisnexis liable, as exlexisnexis is a registered Real Estate agent on this forum, and they are promoting this venture.

[HAVOC]

The investment part if this all sounded good until I came across this:

[SIZE=4]

Grand Canyon Land Company, LLC
$1,750,000
LIMITED LIABILITY COMPANY MEMBERSHIP UNITS
CONFIDENTIAL PRIVATE OFFERING MEMORANDUM

[/SIZE]

Maximum Membership Units Offered: 35
Price Per Unit: $50,000
Minimum Investment: $50,000 (1 Unit)

[SIZE=1](1)

[/SIZE][SIZE=3]

Grand Canyon Land Company, LLC (the “Company” or “Land Company”), an Arizona Limited
Liability Company, is offering a maximum, with no minimum, of 35 membership units for
$50,000 per unit. The offering price per unit has been arbitrarily determined by the Company.
See Risk Factors: Offering Price.

[/SIZE][SIZE=3]

THESE ARE SPECULATIVE SECURITIES WHICH INVOLVE A HIGH DEGREE OF RISK.
ONLY THOSE INVESTORS WHO CAN BEAR THE LOSS OF THEIR ENTIRE INVESTMENT
SHOULD INVEST IN THESE UNITS.
THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), THE SECURITIES LAWS OF THE
STATE OF ARIZONA, OR UNDER THE SECURITIES LAWS OF ANY OTHER STATE OR
JURISDICTION IN RELIANCE UPON THE EXEMPTIONS FROM REGISTRATION
PROVIDED BY THE ACT AND REGULATION D RULE 504 PROMULGATED THEREUNDER,
AND THE COMPARABLE EXEMPTIONS FROM REGISTRATION PROVIDED BY OTHER

APPLICABLE SECURITIES LAWS.

This can be found under the documents tab on their home page. The document is titled "Grand Canyon Land Company Reg D. The rest of the document is quite scary as well.


[/SIZE]

[HAVOC]

Originally Posted by LBear

This is off their web-site:

The purpose of raising capital at this stage is to either purchase land or fulfill our option obligations of the land. The amount which needs to be raised is $1,750,000 and this is being done by an issue of 35 units. Each membership unit is USD $50,000.

1 - How much is the investment?

Your investment is $50,000 USD. This $50,000 per unit shall be repaid to when The Theme Park Company (GCNAE LLC) pays the contracted price for the option on the 130 acres required for the Theme Park. This will happen when the Bond is taken down and is expected to be within 24 months. At this time all interest payments, as outlined below, shall cease. The ownership of the membership unit remains.


Read the part in bold again.
"At this time all interest payments, as outlined below, shall cease." They have repealed the 7% interest they first promised.

They also removed ALL telephone contact #'s from their site. This thing is seriously looking like a possible scam or another possible" Madoff-type" investment scam. How could they just randomly repeal the 7% interest the originally promised their investors?

I hope exlexisnexis is using extreme caution when they are promoting this deal. For if & when it shall fail, some might legally and financially hold exlexisnexis liable, as exlexisnexis is a registered Real Estate agent on this forum, and they are promoting this venture.

What they are saying is, you make an investment of $50,000 and while they have that $50,000 it is accruing 7% interest annually which they will give to you. After 24 months they give you your $50,000 back so it is no longer accruing that interest (thats why they stop paying the interest) but you retain ownership of the unit. So you get your 50,000 grand back, you get whatever 24 months of interst @ 7% amounts to, and one unit or "share" in the company.

[exlexisnexis]

Oh, I have no problem whatsoever with the theme park. In fact, I'm rooting for the theme park. I'll have the family there so fast it will make your head spin. However, I'm also a realist. Get your head out of the sand and take a look at the present state of the economy. I'll bet you a cyber-beer this thing never sees the light of day.

I appreciate you giving this a chance,hey if it does not work out the city will take over the property and use the buildings for schools.
I will take you up on the cyber beer bet.