The truth is stated in the 'doctors' own words to the investors. His monthly expenses were $800,000 a month of which $90,000 was the cost to
subsidize the income shortfall from the wireless network of which I learned recently he fact he knew didn't work over two years ago. Yes didn't
work in the areas he deployed or intended to deploy.
Who in their right mind would grow a monthly expense to this level with virtually no product (per say) on the street. Virtually NO RETAIL OR WHOLESALE
Think about this seriously?
The 3DH company he was dealing with dumped him over three month ago as he was to have paid them a % of investor income of which they claim they never
received. That company was very similar in that they perpetually raise money too for their 3DH Company and have virtually no income either.
Now 'DR' claims he has another 3DH firm even better and the list goes on. Daren Weeks of 'Fast Tracks to Cash Flow" is 100% implicated although
not directly but he was informed twice that I know of that WebNet had nothing working or any income other than bringing in new investors in through a
perpetual array of new investment vehicles.
There are wrongful dismissal suits, the SEC in Canada and soon the US are investigating along with the Canadian labor Relations.
His landlord in Holland is suing him personally for lease income never paid (in the multi six figures) supported by the Dutch Government because he
never incorporated there yet paid two executives $10,000 (combined) Euro's a month plus a very expensive Condo for over roughly an eight months
period of time and their hands were tied as they weren't allow to do anything. Incidentally one of the two officer he supported there is also being
sued and he was an officer of the company.
The Webnet shares sold to date was roughly 15 to 20 million dollars and another 15 to 20 million plus through Fast Tracks to Cash Flow Seminars.
WebNet paid (as do the other vendors) $10.00 per person that showed up plus 2% of gross investor sales revenue. Just call them to be a vendor to
What could you accomplish with 30 to 45 Million Dollars over three years?
That house (in his letter to investors) that was mortgaged was probably mortgaged to the hilt as it was an attachable. As an asset I can assure you
that those funds are now long gone and this house is now not a beneficial asset to investors.
We really need a forensic audit quickly somehow. I don't' know what needs to be done to justify or warrant this task however if I were to make a
wild guess there would be between $5 Million to $15 Million liquid somewhere in off shore accounts that could be attached which would help staff and
shareholders to get something back.
Bottom line is the 'DR's
' EGO is and has been way out of control and this is his and our biggest downfall other than the fact he has no heart or
mercy for investors WebNet and divisions thereof must have just under or over 4000 investors in shares, Co-Licensed and other divisions ranging from
$2500.00 to over $1,000.00 per investor individually.