Hi Everyone,
I wanted to re-post my info and some facts on this new thread and encourage anyone else who has had good or bad experiences to do the same.
I, unfortunately, did sign the conversion agreement, and have not received any interest checks since early 2009. I have over six figures invested with PermaPave , Permeable solutions. In fact, Perma pave has owed me my last interest check from 2009 before the agreement was signed, and I have yet to receive that last interest check, even though I've called Eric Aronson personally, called Fred Aaron, and a couple of other workers in the Perma Pave office. I have even spoken with the most recent person doing the financial work for PermaPave - she has confirmed that I am owed one last month's interest check, and still, to this day, NO ONE from the company HAS BOTHERED TO PAY ME THIS LAST INTEREST CHECK OWED TO ME - THEY ARE NOW OFFICIALLY ONE YEAR LATE on money owed to me. My question is, If this company was really a stand up company, don't you think they could pay their investors the money they legitimately owe them (outside of the conversion agreement).
Here are some more facts:
It will be over a year since Eric has stated he had a buyer for Permapave. One full year.
Eric has said recently in the early part of May 2010 , he has a buyer and confirmed the deal being almost closed - this buyer is going to purchase most rights to PermaPave Verigreen, Permeable solutions, for $100 million - $25 million is supposed to be the first check cut - and this is to pay off investors, bills, etc of PermaPave - basically their debt. Fred Aaron, as of 2 weeks ago, has not confirmed this info, and stated that Eric is entertaining multiple offers from different companies, and that financials are still not done. The financials are the only thing holding up the sale of the company - financials that have taken a year to complete so far. These are two different conflicting stories, and I'd like to know - which is true, and which is false, and why we are getting conflicting information.
Also - we are still not being told the name of the interested company who would like to purchase PermaPave - yet some investors were asked to come down to the office to meet them about 2 mos ago - so, why is it that some investors are given this info and some are not - why is there no consistency in such an important piece of info.?
It has taken over a year to complete financials - Eric stated sometime in early April 2010 that ALL financials were completed, yet, now, here we are in June - and we are being told that there were three parts to the books that need to be completed and we are on the last one. No commitment from anyone as to when they will be completed, just that they are hoping for July - Again, more stories - unsure which is correct.
I have finally received a signed copy of the conversion agreement, after almost a year of asking for it.
Eric’s Past – He has gone to jail for securities fraud.
http://www.barternews.com/archive/10-5-99.htmIs currently in a lawsuit.
http://www.courthousenews.com/2009/04/08/Permapave.pdfThose are just some of many facts that reflect that there is a lot more wrong with this company than just " a struggling company in hard economic times". These facts, coupled with many I haven't even listed, are the reason why this site exists and people are unhappy. It’s the constant lies we receive, the non-receipt of $ and paperwork and simple questions that can’t be given or answered and different stories that we are unsure which are correct.