ScamVictimsUnited.com

I've been indirectly told to stop posting on this web site, but they avoid phone calls from investors, and give answers like "you will be surprised" which has no meaning to it. this is the reason why we are posting on this site.

We were informed that we will get paid our $5 share regardless of what the stock hits. He has stated the hedge fund has already bought 1/2 our shares (investors - conversion agreement) and that he should have a date tomorrow as to when we will get that first check. After that, we have to hold on to the other 1/2 shares until 6 mos. time, then we can do whatever we would like. can I ask, desktop, where you got your info?

Also, I don't know how wise it is to invest more money into a company that we can't get our original investment out of right now, I don't know, I could be crazy, but it doesn't make much sense to me....

As an update - no letters have been sent, as promised by Eric, as of yet......

Ok, I am new to the company but definitely not new to investing. Couple of things I can share from a fresh face, so to speak. People have the same complaints for almost two years. It is just a couple of people. I do not know anyone here, but I can surmise that most complaints are from smaller investors and people unfamiliar with private placements in privately held companies.
I have visited the company, they are most definitely real. I have seen the pavers installed and read feedback from people that have used them, all positive. The company is growing. many times when companies first come to investors for funding, it is with somewhat ambitious goals and projections. Most companies fade away and end up dissolving, most of them. This company is part of a bigger entity right now. They are public, they are working on a certified financial statement which will be available to the public in another couple of weeks. The entity they reversed merged into has been public for a long time, various managements, but it has been trading for almost ten years. Once the financials are released, there can be no more discussion of a scam or sham. The process goes through and internal audit, those financial statements then get sent off to be certified by two different CPA firms. The ENTIRE board of directors, corporate counsel, and accountants are all liable if there is anything shady going on in the reporting of the financials. There is no collusion by the above mentioned, but plenty of anger by the shareholders and bondholders if it disappoints. In factuality, that does not constitute any wrong doing, nor does a future promise of performance. Like it or not, that is the truth. For people to suggest they would short a stock at such a low level only shows they are full of anger and void of fact. At this point in time, as with most reverse mergers, there is immediate term upside potential since there is new and fresh ideas. The IUSN stock has come up from 3 cents a share and has traded very little. Were you thinking of shorting one or maybe even two thousand shares? Upside potential of a couple thousand. Great move, unless, there actually is something going on and the stock went to $10, then you would only be down $17,000. To be so late on projected timeframes and return of capital is certainly a reason to be upset, but to make empty remarks and have a jousting contest of rhetoric is pointless and no one of credibility will take anything you say seriously.
I know the corporate counsel for a long time, he is not even close to someone that nears the gray area, let alone crosses over it. I know the auditor, too. They are paid to audit the numbers, they have no stake in the company and could care less how the stock or company performs. Do you really think people that make substantial income and have established careers are going to jeopardize their entire business for one small client? The first post in the prior thread was from December or 2008. It is a couple of people posting on this board. Their is no momentum building. The large investors are not going to get involved in this ranting stuff, they are too busy with being productive.
As long as the doors are open, the company has a chance. There is not going to be day to day news or updates on anything regarding the investments. It will take place on a quarter to quarter basis. The people that are running the company, new and old, and the new business strategy is a formula for success. More than once I have been involved with an investment that has gone far beyond the projected time frame. At times I have been infuriated, that does not mean there is any kind of Ponzi scheme because it is years late.
In regards to Eric, yes he has been in trouble. Does that equate to a lifelong career criminal? Do you think that he is so arrogant/stupid to commit some kind of fraud and knowingly report it to the SEC?? If you do not want to like him because of his past, fine. His past certainly is not a guarantee of the future. Let me ask you something else. Let's say you were an investor in a prior deal and it turned out that after you got your money back and nice profit; it came to light that it was all a scam. How quickly are you calling up the DA's office to return your money since you did not deserve or earn the return?
Stop pointing fingers, stop the rhetoric, the company is public. They will have a shareholders meeting. You can bring up your questions in a professional and adultlike manner at that point in time. A delay and a broken promise does not constitute fraud. Every company that is behind on their noteholders, the stock is down, etc... has a message board full of people pointing and accusing. If you did invest because of a purported crazy interest rate, why did common sense not interfere with the greed? The only reason a Ponzi scheme can happen is because people are greedy. This company is still here. If they close up shop in the middle of the night and move under the cloak of darkness, then call it a scam.
If it is a scam and they are raking in millions of dollars as someone posted a while back, why ruin it by reporting every single dollar to e Federal agency with the risk of prison?? I am an investor, I will be an investor in this company, warts and all. I believe the products and technology they have are marketable and will be in demand. That will generate a large amount of sales, which in turn, they should generate a lot of earnings per share. If they were to have 5 million in net income, that would translate to $.20 per share. A young company like this would have a P/E ratio of 30 or more. That equates to a $5.00 per share price. What if their products get widespread market acceptance? I am investing based on that potential. "Green" technology is a buzz word on Wall Street and the technologies the company has through the Interlink acquisition are formidable. I think it is worth giving them a chance. I am looking at a twenty-four month period. I understand some have been in it for a couple years already, but that is the risk with a new company. Many things can go wrong and get delayed. Anyone notice how well the economy has been steamrolling along the last two plus years. It just might have been a hindrance to the performance of the company and ability to pay the interest and/or return of principal.
The bottom line is if the company was a scam and you were set up and money stolen; they would not be here.

Hi there Joker,

Just one quick note to your long post - I am new investing, but, from what I can understand, the principals of the company should be consistent with their information - correct. Please review thru this and the other Permapave link. We have been told one thing, only to find out, its another. We've been told - face to face - by Eric, you will be paid this week, and not have it happen. It has taken 9 mos. for our conversion agreements to be given to us (signed copies) after being told the "copier is broken", "office is closed", "no one to copy" - 9 mos of this, before we could obtain them. We have been told, story, after story, which I have logged everything on this site, only to find out, its another story as to why we can't get our money. I am personally owed $1000 of an interest check that they refuse to pay me, even though it was in a signed contract - they acknowledge they owe it to me, but refuse to pay me unless I start legal action. So, yes, I'm new to investing, but if the company can't be straight with the investors, and if every step of the way we have been told something untrue, you would think otherwise as well - this isn't even including the plant owners, who have had to change to a different company because of their issues with the company - tell me, is this all normal? There is more than just a "few investors" most just don't post on the site because of scare tactics made to them if they do post.

I appreciate your input, and value your opinion, and hopefully you will have a good experience with this whole thing - and it is good to have different perspectives on investing with companies - most have had too many bad experiences with this investment and this company to look at it any differently now, but hey, according to one of the principals, we should find out today when we will get our investment check, and he has already stated how they are calculating our first check amount - as listed above in another post - so hopefully this is all done, and we will find out today when we will get our money. Lets hope he doesn't go back on his word again - and we can close up shop. Although, to date, still no letter, as promised on Monday, that was supposed to go out in 2 days, Wednesday, has been received by anyone, that put the calculations that he has given over the phone as to the pay out on paper....

SUre, happy to answer any questions.
First off, so you know a little about me. I have been a very active investor and banker for 20 years. That unfortunately has led me to experience almost every sham and excuse that is in existence. They start in many ways, but always end the same. Company is out of business and no one is to be found.
This company is real. Regardless of how late paperwork and monies have been, the company does exist and they are doing business. Many if not most times the management that runs the company makes statements and plans based on what they are told and what is seemingly close to closing. I have been there and I have been wrong many times. My timing has been off by years on some things and other times it has been far faster than projected. When things have gone wrong I have been accused of everything, including it all being a scam. I can tell you first hand, I would not answer or return calls and correspondence if I was trying to hide. Personally, I have never tried to hide and when there was bad news, I delivered it. It is not a pleasant thing to do and inevitably, the largest headache comes from the smaller investor. It is not an indictment in any way, on the small investor. With all the press and scams that have been brought to light, the first thing that runs through anyone's mind is they have been had.
Perma-Pave does not have any signs of this. They may have been dead wrong on their timing and some may have had legal issues in the past, yet, that does not constitute a fraud. Try to visit the plant and office. One of the first things to look for is unhappy employees. When their paychecks are late or things appear to be heading south, they will always know. If the offices are filled with empty desks, perhaps many people have quit or been fired. These offices do not resemble any of that. In fact, it seems to be quite the opposite. the employees actually seem very happy. Several discussed the company as if it was their own project. Those are all good signs. Is it infallible? Not at all, it is most definitely a very strong sign.
It would seem that most of the noteholders if not all, are very behind. That is not uncommon, unfortunately. The good news is though, you have a company that seems to be in the right sector, "green technology", aggressive people in sales, and a finished product that is aesthetically pleasing with a politically correct functionality. I think now that they are publicly traded, you will find renewed interests from the investing public. They have decent and good people on the board. It is HIGHLY doubtful that the newly appointed board members are going to risk their law careers on a small company like this. Mr. Aaron was with the SEC prior to private practice. I would take that as a positive. Of course, there is no assurance that any one person is not on the take, but a married man with two young children, good practice does not need the aggravation. if you are on the Board of a company, you are PERSONALLY responsible for any fraud that occurs in that company. It comes with a lot of risk.
Maybe Eric was guilty of the charges, maybe he was just a fall guy, or maybe it was just the government out for vengeance, we will never know. We do know that regardless of the circumstances, he served his time and that is that. I would have a hard time believing he or anyone would actually go out and run a shady business with a huge bullseye on their back due to prior issues. I think Eric is very confident, not arrogant. It is not a crime to be late nor to be wrong in estimation of timing. I think everything was said with the hope of it all happening. I can tell you first hand, it is far better to have things happen as you want then to have delays. It makes my job running the company easier then it is to answer angry (rightfully so) phone calls.
I think if Perma-Pave was downsizing their office, laying off people and closing plants, it would be a bad sign. One thing people need to understand, when a lawsuit is filed, regardless of it's validity, it needs to be defended. That is neither inexpensive or quickly done. It also can scare off potential investors.
My advice, based on my experience, is to try to be patient and look at the whole picture. when things go wrong, psychologically, we try to validate our beliefs by attaching various negatives to a notion. The interest is late and three other people said they have not gotten paid, the partnership split up, someone made a mistake in the past, this is the third change in direction, etc... and that will manifest the belief that something wrong has occurred into a "fact". Now share that with other unhappy people and viola', you have a conspiracy. If you have not visited, make an appointment to go and see the company. Look at their site and read/watch/view all the information there. Why not call people in the building business, especially commercial contractors, and ask if the products have an relevancy in the field.
I have been on both sides of the phone call when things are delayed or have changed endless amount of times. They are both miserable experiences. As hard as it may seem, try to take a step back and look at it from a new investor standpoint. Where is the company today? Do they have a viable product? Can it be sold? Do they have the ability to sell it? The answers to those questions should point you in the right direction. Your participation may be two years old, lots of bad feelings and emotions harbor future judgment.
I would be happy to answer any specific question if you want to message me privately.

Just a quick update as to what Eric is telling us in regards to the people who signed the conversion agreement getting their funds. He has stated that he had to file a form with the government today, and yesterday. Then, the government makes him wait a week to be able to pay us, so he has said that we will get our money next week sometime - so that would be 8/23-8/27 - Eric has stated we will get our funds. Also, no letters were ever sent out to us as promised by him and Fred and Erika as far as amounts go. And, as a side note, last week, he stated we would be called into the office this week to go over how much we will be getting paid, and when - this has not happened and he is going out of town this week. I will keep the site posted as to if he makes good on his word (unfortunately he has not in the past) on getting our money next week.

This is all just beyond insane. I have been told by Fred Aaron, Eric's lawyer, that they are in the "quiet stage" of the process. This means that he nor any one else cannot give out any specifics of the deal. Quite convenient of an excuse, it would seem, kind of a blanket stall tactic. I cannot even receive a simple return call from Fred as to an ETA for the letter stating what the investors are suppose to receive that Fred promised we would receive no later than the end of July (uh, it's the middle of August), nor can I receive an answer to the question that specifically applies to my husband and I...What is situation for us in the event of a sale or merger for those who still hold Convertible Debentures. We were never allowed the opportunity to sit like the other investors with Erica to find out this information, instead, my husband had to sit with Eric who had nothing but non pertinent information for him (all of which can be heard on the tape). No one else is capable of answering that for us, so we are still sitting here in the dark, as usual. My husband has requested multiple times a meeting for an update with Eric, or anyone for that matter, to no avail. SOMEONE should be able to answer my questions for goodness sakes.

For the joker All that you have said was the same "stuff" that the other damage control posters have said....it is a real company with real product.....I know Eric had a past........Would he still be taking calls if this wasn't real....blah blah blah, same "stuff", different day. The only posts I find to be valid and worthy of my time reading are the people who are updating real concrete facts, like how no one can get answers.

So it seems the end of my rope is here and I am at a fork in the road. Go to specific organizations that are trained to help me find out exactly what is going on or I can sit and wait (and wait and wait). I myself am not a big fan of waiting.

I do not have the ability to give anyone any information. I am an outsider, someone that is considering an investment. That is all. I am certainly not damage control, if I come across that way, I assure you it is mistaken.
As for a "quiet stage" that is the "quiet period" when company can not discuss any information as per the SEC. It comes with filings and the timing of them. I do not know what is being filed so I can not answer to that. I honestly do not know. As far as the convertible debenture, that should be fairly easy to decipher. Read the terms of the bond and if necessary, consult someone that is fluent in investments. They may appear complicated, but they are usually standard verbiage.
I understand not being good with waiting, entirely. What are your options? It seems that a merger is some sort of trigger that gets the bond holders some sort of return. It might be best to see what that is. "Agencies" tend to move very slow and it is not likely they will ever do anything in the long run.
I personally do not know any of the investors or really the people in the company. The good news for you is the company now will have published financials. Granted the ones they put out are far from impressive, but they are the old company, IUSN and it appears they were mostly dormant.
Again, I am definitely not here for damage control, someone said there was some posting here on the company and it had a bit of a track record. I was just reading through it and it seemed that it was general angst with very long delays and unkept promises.

Quick Update:

There was an investor phone meeting yesterday, and Eric Aronson and Fred Aaron were the only ones present to represent Permapave, at the phone meeting to answer investor questions. The summary of the meeting was that Fred will be getting out that letter to let us know how much we will be getting by Thursday (he is going on vacation - and wants to get this out before he goes). Funds will be either paid by check or stock. A 2 week time frame from today of funds to be received by investors was given by one of the company's representative, and the other company representative gave a 4 week time frame from today. Reason for delay: Filing government forms, making sure everything is in order.

Will update if I get any other info.

I have emailed Fred for questions regarding specifics of what else needs to be done, and again, my $1000 interest check that is owed to me, confirmed by the company as owed to me, but yet, still not paid as of today.

Update 8/28 - After two attempts to reach Fred by email, and phone, I have still gotten no answer regarding my $1000 interest check. I will keep trying the Permapave office number since Fred is now on vacation. No letters received as of yet.

Update 8/30 - It has been confirmed by a phone call to Permapave on Friday, 8/27, that the letter mentioned above, to give the investors the total amounts that we will be paid, has not been mailed out as of Friday 8/27.

Someone suggested I invest in this company about a year ago and I am sure glad I didnt.

I was told that people invested money to buy containers and got a huge return. Which they did get a few checks and invested more...never to see the money again. It seems like the goal was to gain peoples trust so they invest more, and as soon as the pot was full...no more money was being given out.

"When something is too good to be true it usually is."

How much have you invested? How much are you looking to get back?

Are you talking about a $1000 or hundreds of thousands?

For years I have read the same basic sad thread. Real people so desperately looking to get their investments back- against what seems to appear to be people from the company creating bogus screen names to try to continue their "hold out a little more " smoke screens, as well as trying to defend and hide the basic fact that money was promised - and will probably never be delivered.
Unfortunately the good people of the world that "believed" will have to learn a hard lesson- and the scammers of the world will continue to try and dupe them (and others) with their empty promises.
Best of luck to all the victims. It is advisable that you probably will get a better result if you also somehow ban together legally if you haven't yet.

Quick update:

No letter received, that was stated to go out almost two weeks ago, to give us figures on what our payouts are supposed to be.
No phone calls/emails returned as of yet.
Still no answer on my interest check questions (i.e. - $1000 interest check has not been paid to me and has been outstanding for almost 2 years now).

When I do get a return call or email or the letter, I will update accordingly. If statements made are kept by company's representatives, I will state that as well as I would love to post some positive information for everyone and hopefully I will be able to soon

Hope everyone had a good Holiday

Due to the non receipt of phone calls and emails from Eric and Fred (representatives of PermaPave), I would like to know if anyone is interested in getting together to discuss what our options are in this situation (it has now been about 2 1/2 years - or longer for some, since we have invested our $ with this company, only to receive little to no information (and the information received turns out to expire or be incorrect). I have talked to a few other investor thru the Private Message (PM) that would be interested in getting together, and would like to make an inquiry of anyone else who would be interested in holding this initial meeting. I think, if we are split up, it is more difficult to get things done, but if we band together, we can try to figure out positive solutions to our investment issue.

If anyone is interested, please contact me in the upcoming week thru PM or you can email me using the email button below
(This post was edited by admin to remove the email address. It is not safe to post your email address on open message boards like this since that is how scammers and spam lists find email addresses to mail to.)

Everyone is interested in getting together. You call the District Attorney and see if there is an investigation. If there is then post it and we can all call and give our names.