Anonymous said... As on Novemebr 09, the equipment is all gone, Valcor does not exist anymore for any practical purpose. The main guys are all broke, "everyone else's fault"
Kiss your money goodbye, it is all gone, wasted, disappeared.
Friday, December 4, 2009
Valcor Investment WAS a fraud after all.. according to a visitor.
A post by a visitor to this blog shines some light on the Valcor fraud...
I arranged a buyer for some containers of hardwood and a possible large investor for Valcor. If sample deliveries were satisfactory, the buyer would arrange a sizable investment to get things rolling. Together with my associate, the investor/buyer visited Nicaragua and met with Val Pacheco. This was in April 2009. The buyer ordered several containers of lumber, to be paid for F.O.B. an Atlantic port in Nicaragua. Upon returning to the USA, the buyer called Val Pacheco almost daily to find out when his lumber would be delivered, but nothing ever showed up at the designated Nicaraguan port. At the same time and immediately afterwards my associate made contact with several local "lumber"
sources, who advised us that Val Pacheco's so-called timber concessions were not worth the paper they were written on. In fact we met one local lumber company that had the actual government concessions.
At the same time that all of this was happening, Val Pacheco advised us that the San José, Costa Rica office (meaning Vince Matlock's CR Premier Realty office)was mis-appropriating funds and that we were not to do business through them, but rather directly with him, Val Pacheco. Needless to say this left a rather sour taste with myself, as I am an investor in Valcor through the Costa Rica
office. Shortly after these events CR Premier Realty newsletters stopped and their Escazu office closed, with phones ringing but no one answering.
I confronted Val Pacheco with these issues, in question form, after he accepted my invitation to correspond through one of the common business networks (LinkedIn I think?). However, he never bothered to respond to any of my
questions, such as why he couldn't make deliveries for cash to the Nicaraguan port my buyer had arranged. Clearly, we are dealing with a very small operator who is completely out of his depth.
I do a lot of business in Colombia. Maybe I need to put a Colombian collection agency on the job?
Tuesday, July 21, 2009
Investors are worrying
We have been contacted by current investors in this project, who are worried that they might never see their $10,000 or $20,000 investment again.
The investors have told us that they have tried to telephone the IPEC / Valcor people, but the phones are disconnected and they are not replying to emails.
If you are a current investor and are worried about your investment, if you are a US citizen you should contact the SEC for advice. http://www.sec.gov/
We may also be able to help - so please contact us via this blog and let us know what your situation is.
Please let us know what information you have about your investment. E.g. Registered office for the company, the accountant, etc. Also, have you ever received financial reports, etc.. ?
Tuesday, May 12, 2009
Published Financial Reports not for the right Company?
We have been asking for Valcor to publish audited reports of the company that investors are buying shares into.
When we asked about this, we were told it was not our job to ask questions. But surely it would be beneficial for EVERYONE for any queries to be addressed?
We have promised that we would take down this blog once we were satisfied that:
1) all required information was published
2) everything was done in a transparent manner
3) all unscrupulous practices to get people to invest in this opportunity were stopped.
We have promised this and we will honour our promise.
Whilst a financial report has been made available on the Valcorinvestment website, it does not look like this report is for IPEC, or for Exportaciones Maderas del Atlantic SA. Whereas in fact we would be expecting the reports for both of these.
This means that conditions 1 and 2 have not been satisfied.
Recently we also came across a website advertising this super investment opportunity as recession-proof, talking of full productivity in a few weeks, and promising a dividend in early 2009.
http://www.nuwireinvestor.com/opportunities/timber-investment-after-hurricane-felix-huge-returns-52080.aspx
This seems to contradict our request to stop unscrupulous practices.
We want to be fair to ValcorInvestment. But we also feel it is our duty to protect would-be investors. All this blog does is report facts, and it allows investors to see what ValcorInvestment has promised in the past.
We will honour our promise when the condition is right.
At this time, it seems that ValcorInvestment are not trying to cooperate, and are posting the wrong financial reports as an attempt to confuse. Again, the ball is in your court.
When we asked about this, we were told it was not our job to ask questions. But surely it would be beneficial for EVERYONE for any queries to be addressed?
We have promised that we would take down this blog once we were satisfied that:
1) all required information was published
2) everything was done in a transparent manner
3) all unscrupulous practices to get people to invest in this opportunity were stopped.
We have promised this and we will honour our promise.
Whilst a financial report has been made available on the Valcorinvestment website, it does not look like this report is for IPEC, or for Exportaciones Maderas del Atlantic SA. Whereas in fact we would be expecting the reports for both of these.
This means that conditions 1 and 2 have not been satisfied.
Recently we also came across a website advertising this super investment opportunity as recession-proof, talking of full productivity in a few weeks, and promising a dividend in early 2009.
http://www.nuwireinvestor.com/opportunities/timber-investment-after-hurricane-felix-huge-returns-52080.aspx
This seems to contradict our request to stop unscrupulous practices.
We want to be fair to ValcorInvestment. But we also feel it is our duty to protect would-be investors. All this blog does is report facts, and it allows investors to see what ValcorInvestment has promised in the past.
We will honour our promise when the condition is right.
At this time, it seems that ValcorInvestment are not trying to cooperate, and are posting the wrong financial reports as an attempt to confuse. Again, the ball is in your court.
Monday, May 11, 2009
Valcor Makes their Financial Reports available
Valcor has made their financial reports available.
http://www.valcorinvestment.com/Financials%20Valcor.pdf
It should be noted that all values are in Nicaragua Cordoba. The current exchange rate is approx 20 Cordoba = 1 USD.
I think it could be useful for Valor to include a statement explaining the reports. When looking at the reports, I have a number of questions:
1) These reports seem to be for Valcor SA. Aren't investors investing into "Exportaciones Maderas del Atlantic SA", which owns 100% of "IPEC International". ? Shouldn't these reports be made available as well?
2) "sales" for the whole year on the results show 28,378 "dolares". is this USD? AUD? CAD? and it this all that was sold in one year of operations?
3) "assets" shows that the concessions are worth 5,131,865 "dolares". Again, what is the currency here?
Maybe Valcor could provide a statement to accompany the results?
http://www.valcorinvestment.com/Financials%20Valcor.pdf
It should be noted that all values are in Nicaragua Cordoba. The current exchange rate is approx 20 Cordoba = 1 USD.
I think it could be useful for Valor to include a statement explaining the reports. When looking at the reports, I have a number of questions:
1) These reports seem to be for Valcor SA. Aren't investors investing into "Exportaciones Maderas del Atlantic SA", which owns 100% of "IPEC International". ? Shouldn't these reports be made available as well?
2) "sales" for the whole year on the results show 28,378 "dolares". is this USD? AUD? CAD? and it this all that was sold in one year of operations?
3) "assets" shows that the concessions are worth 5,131,865 "dolares". Again, what is the currency here?
Maybe Valcor could provide a statement to accompany the results?
Wednesday, May 6, 2009
Valcor Investment: a post by a visitor to this blog
Here is a comment that was left on this blog by a visitor last week.
For those wondering if Valcor is real or a fraud, ask yourself these questions.
1. Who are they currently selling to? Can they prove it.
2. What volume are they selling? Does this volume match their claimed sawing capacity? They claim to be sawing 300,000 bd ft a week of mahogany and cocobolo. Peru ecports about 150,000 bd ft a week of mahognay, and they are the world's largest exporter of mahogany. Not too many buyers out there for 10,000 bd ft a month of cocobolo, certainly not in the US.
If he is selling 300,000 bd ft of mahogany and cocobolo a week, that should be between $1 million and 1.5 million per week in income, depending on grades sold. 30,000 bd ft a week would be between $100,000 and $150,000 per week
3. Do you think Valcor can cut and sell more mahogany than Peru?
4. Ask to speak to people who are buying from Valcor.
5. Call Sitco lumber in the US and ask about Valcor. Do they buy from them, do they know them, what do they think of them?
6. If they were selling to Bosovich from Peru, why does their website say they have a deal with Bozeman? Can't they spell their name properly if they have a deal with them?
7. why is their website down today?
8. If you invested money with them, why did you not buy a bridge in Brooklyn instead? Or maybe stocks in Worldcom or Enron? Those would have been better investments.
1. Who are they currently selling to? Can they prove it.
2. What volume are they selling? Does this volume match their claimed sawing capacity? They claim to be sawing 300,000 bd ft a week of mahogany and cocobolo. Peru ecports about 150,000 bd ft a week of mahognay, and they are the world's largest exporter of mahogany. Not too many buyers out there for 10,000 bd ft a month of cocobolo, certainly not in the US.
If he is selling 300,000 bd ft of mahogany and cocobolo a week, that should be between $1 million and 1.5 million per week in income, depending on grades sold. 30,000 bd ft a week would be between $100,000 and $150,000 per week
3. Do you think Valcor can cut and sell more mahogany than Peru?
4. Ask to speak to people who are buying from Valcor.
5. Call Sitco lumber in the US and ask about Valcor. Do they buy from them, do they know them, what do they think of them?
6. If they were selling to Bosovich from Peru, why does their website say they have a deal with Bozeman? Can't they spell their name properly if they have a deal with them?
7. why is their website down today?
8. If you invested money with them, why did you not buy a bridge in Brooklyn instead? Or maybe stocks in Worldcom or Enron? Those would have been better investments.
Friday, April 24, 2009
Still waiting for financial reports from Valcor
Financial reports were promised about a month ago but still no sign of them. Why the delay? Why have there been no financial reports ever published for this company?
There is an interesting comment posted for the last post.
There is an interesting comment posted for the last post.
Sunday, March 29, 2009
Valcor to publish audited reports!
Better late than never!
We look forwards to these documents finally being made available to investors and potential investors so that they can evaluate the opportunity!
We are happy that this blog has helped bring better corporate governance to this company. Whilst we have received no positive comments about this blog by current shareholders in the company, we strongly believe that our commitment to bring better fiscal policy to the company is in their best interest. After all, have shareholders been happy sitting on their investment for the past year, without ever having seen a proper financial report?
Thursday, March 12, 2009
Valcor investment not offering to comment on performance.
A few weeks ago, Dan Chambers left a comment on this blog saying that we were scaring investors away from a legitimate opportunity.
In our reply, we asked Dan to offer us a progress report of the Valcor timber opportunity so that this could be published to increase transparency and to encourage investors in what he says is a great company.
In our reply, we asked Dan to offer us a progress report of the Valcor timber opportunity so that this could be published to increase transparency and to encourage investors in what he says is a great company.
On a number of occasions we have made it very clear that we will remove this blog if transparent, accurate information is given about the Valcor Investment opportunity and IPEC international. We do not want to see inaccurate press releases and pushy tactics to get private investors' money. Dan, the ball is in your court. Why not use this opportunity to make this blog a supporter of your opportunity and a great public relations tool?
We will remove this blog if we are happy that you are being fully transparent and honest.
I'll post an update to the homepage of the blog in a couple of weeks - so if you have some verifiable, solid information and results I promise to include them.
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