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Report: #69002

Complaint Review: Bring It Home - E-Penzio & Avalon Digital Marketing - Provo Utah

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  • Updated:
  • Reported By: Orinda California
  • Author Not Confirmed What's this?
  • Why?
  • Bring It Home - E-Penzio & Avalon Digital Marketing 5255 N. Edgewood Dr. #250 Provo, Utah U.S.A.

Bring It Home, E-Penzio & Avalon Digital Marketing Misrepresentation fraud not licensed to do business in Califoria, Provo Utah

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Avalon filed chapter 11 banruptcy September 5th. In filing a claim I found that they kept moving. The Newport Beach phone was disconnected months ago yet they use it on SEC reports. The agent for service address listed with the state of CA is an address from 3 or 4 years ago.

They did a reverse merger in September 2002 and the financial statements after that never showed the combined company. They never talked about the fact that the state of Utah fined them $21K on 21 counts of misrepresentation and fruadulent business activities in March 2003. Prior to Sept 2002 all the merged business's had a going concern audit report issued but that was never mentioned in any subsequent financial statements.

Avalon had a $75 million negative retained earnings balance prior to the Sept 2002 merger. One of the Board members has lent them money at interest rates ranging from 14% to 24% through a joint venture he controls.

Steve
San Francisco Area, California
U.S.A.

This report was posted on Ripoff Report on 10/13/2003 06:30 PM and is a permanent record located here: https://www.ripoffreport.com/reports/bring-it-home-e-penzio-avalon-digital-marketing/provo-utah-84604/bring-it-home-e-penzio-avalon-digital-marketing-misrepresentation-fraud-not-licensed-to-69002. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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