TRANSPARENCY AND ACCOMPLISHMENT Dear Fellow St
Post# of 4333
Posted On: 10/16/2014 1:29:05 PM
TRANSPARENCY AND ACCOMPLISHMENT
Dear Fellow Stakeholders,
As with any emerging company on the brink of a powerful national presence, opportunities for leadership and challenge will arise to test our mettle. How we deal with these opportunities and challenges will establish our leadership, transparency and trust within this new industry.
I am confident that with our outstanding executive team, growth strategy and your support, we will emerge as a market leader, providing technology for the medical benefits of cannabis to our target communities and proudly contributing to job growth. To accomplish our growth objectives we will leverage our leadership, execute our strategy and continue to develop our reputation, which are all critical to our success. As we move forward, be assured there will be times when our principles are challenged. It is important at these times to provide response to sort myth from truth and continue our development; this is one of those times.
Recently, I have become aware of a specific challenge, which has developed into a question regarding INCC’s leadership experience and two isolated business dealings within my background, which I consider important enough to warrant a personal letter. My intent for this communication is, first, to provide disclosure and, second, to share the expert backgrounds and areas of focus for the INCC leadership team and provide an timeline of accomplishments of our progress toward achieving our goals—to assure you of our level of skill and commitment to building INCC.
First, to address questions regarding my background, and for the sake of transparency, I provide the following:
Challenges: details and resolution
After more than 26 years of experience assisting many organizations with capital acquisition and business growth within the finance and real estate industries, I personally experienced two very challenging professional events, resulting in my filing for bankruptcy in September 2013, which was also discharged in December of the same year. Here are the primary details of the two isolated incidents, which, while a challenge for me at the time, will have NO impact on INCC!
1-2-1 Direct Response
In 2009, I purchased 1-2-1 Direct Response, a telemarketing company located in Pennsylvania serving a tri-state area and employing more than 750 full-time staff. In 2010, we discovered $900,000 of unsatisfied payroll taxes. I addressed this situation by removing the senior executive and, taking the helm of the toxic subsidiary. The IRS imputed me personally with $1.3M of civil penalties. In 2010, 1-2-1 Direct Response was sold to a buyer who I believed would grow the company beyond its current position and maintain current staff levels.
Hawkeye Commercial Property
In 2003, two investors and I purchased commercial property in Florida, to develop commercial condominiums. In 2007, after a successful phase1 launch, the real estate market crashed severely impacting our property value and ability to maintain the asset value required by the lender, ultimately resulting in foreclosure. Discontent among our investment group grew, resulting in a lawsuit. Not wanting to go through a lengthy and costly legal battle, I settled for $1.5M, with no admission of guilt or wrongdoing.
With the above addressed, I would like to take this opportunity to move us forward by sharing a brief introduction to your INCC executive team and their areas of responsibility and our collective accomplishments.
As of today, INCC’s executive team is securing additional capital, performing due diligence for additional acquisition targets and creating opportunities for our innovative technologies and distribution channels.
Dear Fellow Stakeholders,
As with any emerging company on the brink of a powerful national presence, opportunities for leadership and challenge will arise to test our mettle. How we deal with these opportunities and challenges will establish our leadership, transparency and trust within this new industry.
I am confident that with our outstanding executive team, growth strategy and your support, we will emerge as a market leader, providing technology for the medical benefits of cannabis to our target communities and proudly contributing to job growth. To accomplish our growth objectives we will leverage our leadership, execute our strategy and continue to develop our reputation, which are all critical to our success. As we move forward, be assured there will be times when our principles are challenged. It is important at these times to provide response to sort myth from truth and continue our development; this is one of those times.
Recently, I have become aware of a specific challenge, which has developed into a question regarding INCC’s leadership experience and two isolated business dealings within my background, which I consider important enough to warrant a personal letter. My intent for this communication is, first, to provide disclosure and, second, to share the expert backgrounds and areas of focus for the INCC leadership team and provide an timeline of accomplishments of our progress toward achieving our goals—to assure you of our level of skill and commitment to building INCC.
First, to address questions regarding my background, and for the sake of transparency, I provide the following:
Challenges: details and resolution
After more than 26 years of experience assisting many organizations with capital acquisition and business growth within the finance and real estate industries, I personally experienced two very challenging professional events, resulting in my filing for bankruptcy in September 2013, which was also discharged in December of the same year. Here are the primary details of the two isolated incidents, which, while a challenge for me at the time, will have NO impact on INCC!
1-2-1 Direct Response
In 2009, I purchased 1-2-1 Direct Response, a telemarketing company located in Pennsylvania serving a tri-state area and employing more than 750 full-time staff. In 2010, we discovered $900,000 of unsatisfied payroll taxes. I addressed this situation by removing the senior executive and, taking the helm of the toxic subsidiary. The IRS imputed me personally with $1.3M of civil penalties. In 2010, 1-2-1 Direct Response was sold to a buyer who I believed would grow the company beyond its current position and maintain current staff levels.
Hawkeye Commercial Property
In 2003, two investors and I purchased commercial property in Florida, to develop commercial condominiums. In 2007, after a successful phase1 launch, the real estate market crashed severely impacting our property value and ability to maintain the asset value required by the lender, ultimately resulting in foreclosure. Discontent among our investment group grew, resulting in a lawsuit. Not wanting to go through a lengthy and costly legal battle, I settled for $1.5M, with no admission of guilt or wrongdoing.
With the above addressed, I would like to take this opportunity to move us forward by sharing a brief introduction to your INCC executive team and their areas of responsibility and our collective accomplishments.
As of today, INCC’s executive team is securing additional capital, performing due diligence for additional acquisition targets and creating opportunities for our innovative technologies and distribution channels.
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