Kensington Resources Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Kensington Resources

KRT 24.83

+1.3%

1:42 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Frank Sauer who wrote (5536)	7/16/1997 9:07:00 PM
From: Stox	of 5597

Hi Frank. I participated in Excel's failed pp at 1.25 as well. I received my full refund (although the interest promissed from Jan'97 when I advanced the funds was never paid) on May 15 or 16th via cheque from Canaccord where Excel keeps these funds (in trust I hope). Judy Ryan told everyone on this thread that Excel had all failed pp funds in their posession by April 29, 1997. Nobody at Excel has ever denied that claim in my numerous conversations with various individuals. I am very shocked that you have been requesting/ demanding repayment of the funds you loaned Excel since early May and have not received anything. If this is the case you should inform Gary S. that you are seeking legal counsel regarding this matter. Have you talked on the telephone with Gary S regarding your loan and refund? The refund process was initiated by a signed fax to Excel indicating my intentions requesting a complete refund due to the cancelling of the pp. Del K. had previously told me several times that Excel clients could actually pull out of the financing at any time even if the pp was not cancelled. This was due to the way Excel works - you don't actually get your name listed in the pp but you loan your money to Excel via a debenture. I also mailed the same letter. I received my refund after a couple of weeks of phone and fax calls. I brought 2 other investment friends into the Excel KRT finanicng and they too received their refunds shortly after I did. I'm sure this has been a very hard time for Excel but this is no excuse for their actions if what you say is true. I have no ill feelings with Excel after this failed business transaction but will seriously consider future business with them based on comments I hear on how they have treated others. Please email me Frank if you have any other questions or comments. I would like to hear how you make out over the next week after the grapevine hears of your dispute. Best of luck and I hope your dealings with Excel have not ruined your feelings about KRT. I look at the failed pp as a godsend as it came at a time when I needed some of the funds for other purposes. Furthermore anyone who was in at 1.25 could have waited and bought 2.5 times as much stock now with the same money. el PS - Frank maybe you should email Buddy as he talks with many KRT and Excel clients. Buddy have there been any other disgruntled Excel clients that have not received their money back yet?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next