My husband and I also received a letter today. It was on Permeable Solutions letterhead, with Permapave contact information, in a VeriGreen envelope (any red flags here
). Anyway, the letter informed us that the company is now Interlink, a publicly traded company that manufactures hi-tech (media) products; isn't it kind of strange that a cement type/green company merged with a company that sells music and movies (hmmmm.....).
The letter also states that if we want our stock certificates we have to sign a ridiculous release form exempting Eric (and everyone affiliated with Eric) from accountability and responsibility for all and any of their egregious actions. So in addition to expecting us to completely waive our rights, he wants us to basically forgive all the lies, excuses, stall tactics and deceit that has transpired over the last almost three years now. And in addition to that, it would be a three week wait period to get the stock certificates from a transfer agent in New Jersey (see where this is headed?).
Not to mention the letter conveniently states the original debenture agreement (signed back in January 2009) was based on an improper rate of interest. This changes our conversion agreement (that we were coerced into signing in June 2009; Eric told us the Company was sold at that time and we needed to sign this agreement so that the sale could go through. We were supposed to receive our money in 60 days) which cut our shares literally in half. The letter informs us our new share amount, it did not indicate any type of payment amount; not that we expect to ever be paid anyway.
When questioned tonight by another investor, Eric remained steadfast on his explanation that despite what that letter states, investors will get $5.00 a share although it is not in writing and although his attorney and chief financial officer say it is untrue.