ED Magedson – Founder
2361556 Ontario Ltd, John Berthelot1Industrial Park Road E, Blind River, On, Canada Lindsay, Ontario Canada
2361556 Ontario Ltd, John Berthelot , John Millar Licensed Technology, Non Payment of $ 300,000 plus and Seized Assets Not Belonging to them or Corporation. Blind River Ontario
In 2012, our company sold John Berthelot a License to sell our technology for $ 100,000 and we had obtained financing for him for our maintenace products. His credit was not good and he agreed to a Promissory Note and Personal Guarantee as he was having very difficult time. His bank provided us weak reference but we elected to support. We accepted the Personal Guarantee and he assured us that he had the money and could get the funds.
During the period he was very desperate and we helped finance and even advance money to help him get going. I personally guaranteed his loans so he could open and start business. He has the delusion of impossible business transactions by taking on the biggest companies in road construction, salt distribution, setting up huge factories in Blind River..Building 100 Million Dollar Gravel Pit in Blind River with no money..he and his partner John Millar are in side deals with every transaction. [continued below]....
They agreed to buy Equipment and Inventory and renaged and never made one payment of the $ 300,000 and have now seized and locked us out of our assets. He talks this big story and his credit reference has he has $ 1000 in bank, maxed personally and having problems with paying mortgage.
The entire process is about his need for survival and all companies he has have no capital and worse he victimizes othersonce he finds a new victim. He has this long story of his greatness..semi pro hockey player, great achievements with Cargill, Insurance and saving companies money by his consulting. He went bankrupt we discovered for 10 Million Dollars and we believe escaped Toronto and now trying to set up and scam investors, suppliers, people like us and even government agencies. He illegally is using trademarks, operates with unregistered names in his recent move with 2361556 Ontario Ltd. A 6 month old company with office in Blind River,Lindsay Ontario, Canada. With no experience he is producing products with no knowledge or expertise and this is very frightening. We are warning everyone that he is seeking other investors now to payout the ones he has burned by not living up to agreements or payment.
Do not be a VICTIM of this delusional character and the companies he opens, he will say and do anything for your technology, formulas and way to survive. See Linked In for his other companies..I have reported him to authorities and the lending instiuition for passing off as another company meaning ours.
Do not be on John Berthelot's VICTIM LIST.
This report was posted on Ripoff Report on 10/25/2013 02:09 PM and is a permanent record located here: http://www.ripoffreport.com/r/2361556-Ontario-Ltd-John-Berthelot/Lindsay-Ontario-K9V-4R3/2361556-Ontario-Ltd-John-Berthelot-John-Millar-Licensed-Technology-Non-Payment-of-3-1094625. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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