ED Magedson – Founder
Kodiak Capital Group, LLC260 Newport Center Drive Newport Beach, California USA
Kodiak Capital Group, LLC Ryan C. Hodson, Colin Manners, Jason Navall, Richard Luthmann, William Newell Kodiak Capital Group, LLC Alleged Fraudulant Activities Newport Beach California
Kodiak Capital: Alleging Investigation Reveals Numerous Lawsuits Alleging Extortion, Racketeering in Organized Crime Act, Upfront Fee Scam, Fraud, Litigation, Failure to Fund, Fraudulent Inducement and Conspiracy, Unfair Trade Practices, Dishonest Business Practices, Alleged Investigation by Federal FTC for Unethical/Unscrupulous Activities.
Baron Energy, Inc. and Kodiak Capital Group, LLC Mutually Agree to Terminate Their Relationship
EGPI Firecreek, Inc. Terminates Relationship With Kodiak Capital Group, LLC and Withdraws S1 Filing
Milwaukee Iron Arena Football, Kodiak Capital Terminate Business Relationship
Wind Works Power Corp. igned a Termination and Release Agreement (the “Termination Agreement”) with Kodiak in connection with the termination of the Investment Agreement entered into between the parties on March 22, 2010.
These private equity firms, i.e. Kodiak have a unique business in that they pump out press releases of funding commitments yet it's impossible to find a company that was ever able to draw down on this "supposed" equity line. All the ELOCs are essentially the same and contingent on the effectiveness of a registration statement with the SEC. The company agrees to fund the company after the company submits a put, which is usually at a 20% discount to the recent trading average. However, I've not been able to find one company with enough trading volume to ever draw down on these lines. It seems like it's all a ploy to get "document preperation" fees and free trading shares in the event something ever clears the s1 process.
Sounds like a good business to be in.
This report was posted on Ripoff Report on 01/27/2014 11:57 AM and is a permanent record located here: http://www.ripoffreport.com/r/Kodiak-Capital-Group-LLC/Newport-Beach-California-92660/Kodiak-Capital-Group-LLC-Ryan-C-Hodson-Colin-Manners-Jason-Navall-Richard-Luthmann-1118748. 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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