- Report: #757379
Complaint Review: Apple Rush
| Apple Rush 1724 Robin Lane
Glenview, Illinois United States of America |
|
Apple Rush Sharon Corr, Robert Corr Consumate Scam Artists, Stealing to the tune of hundreds of thousands of dollars Glenview, Illinois
*General Comment: Rebuttal Lies
*General Comment: Rebuttal Lies
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Fix it the right way.
Corporate Advocacy Program™
http://www.applerush.com Company website dead.
3. GOING CONCERN
The Company has incurred cumulative losses of $6,420,452 since inception. These conditions raise substantial doubt as to the Company's ability to continue as a going concern. In order to meet its upcoming continuing obligations, include any adjustments that might be necessary should the Company be unable to continue as a going concern.
D-Bar Manufacturing Inc.
P.O. Box 1418
Abilene, TX 79604
Incorporated in Texas (March 16, 1998)
Now Doing Business As:
Apple Rush Co., Inc.
P.O. Box 9
Dolton, IL 60419
Transfer Agent (gagged)
Island Stock Transfer
100 Second Ave. South
Suite 104N
St. Petersburg, FL 33701
Telephone: 727-289-0010 begin_of_the_skype_highlighting 727-289-0010 end_of_the_skype_highlighting
Fax: 727-289-0069
E-mail Address:
info@islandstocktransfer.com
Latest Financial Reports (FY 2010 & Q1 2011)
Numbers in red are losses or liabilities
CURRENT DEBT (As of 31 March 2011)
Accrued interest (in default) $492,654
Convertible notes payable (in default) $1,281,493
Long-term debt (non-convertible) note (in default) $232,114
Other payables (in default) $106,058
Short-term notes (non-convertible) (in default?) $100,000
Trade payables (in default) $567,731
Total liabilities $4,523,913
Accumulated deficit ($6,420,452)
FY 2010 revenues and operating costs
Gross profit $25,438
Cash $1,596
Operating loss ($1,161,467)
Net loss ($1,520,843)
Total losses since inception $6.2 million
$1.2 million+ Estimated liability from pending lawsuits
Q1 2011 revenues and operating costs
Gross profit $2,376
Cash $3,529
Operating loss ($93,591)
Net loss ($176,476)
Total losses since inception ($6.420,452)
$1.2 million+ Estimated liability from pending lawsuits
Q1 2011: 100,000,000 new shares issued per month (ave.)
O/S 640Mil, A/S 750Mil (reported March 31, 2011)
Current A/S & O/S unknown
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=apru#getFilings
Quick Summary
1) No ownership of Apple Rush brand or trademark; no 2011 production cited,
2) No 2011 sales except minor draw-down of old inventory,
3) Apple Rush Co. (APRU) "Not in good standing" in Texas, its primary state of incorporation; AR cannot legally transact ordinary business in USA;
4) Apple Rush Co. (APRU) corporate status revoked in Illinois, its headquarter state,
5) Courts have gaveled $644,000 in judgments against Apple Rush Co., Inc. to several plaintiffs for breach of contract; another $900,000 in damages is sought in pending legal lawsuits against Apple Rush Co. Inc.,
6) AR distributor (subsidiary Garden Distributing Inc.) dissolved,
7) No Chapter 11 bankruptcy protection from creditors and litigants which are owed ~$5 million by the firm,
8) No protection against future lawsuits,
This report was posted on Ripoff Report on 07/27/2011 08:36 PM and is a permanent record located here: http://www.ripoffreport.com/r/Apple-Rush/Glenview-Illinois-60025/Apple-Rush-Sharon-Corr-Robert-Corr-Consumate-Scam-Artists-Stealing-to-the-tune-of-hundre-757379. 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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Search Tips#1 General Comment
Rebuttal Lies
AUTHOR: anonymous - (United States of America)
SUBMITTED: Sunday, April 01, 2012
#2 General Comment
Rebuttal Lies
AUTHOR: anonymous - (United States of America)
SUBMITTED: Sunday, April 01, 2012
based on a dispute in a family trust matter. The comments are slanderous, false, and lack credence.

