All Forum Posts by: Carlos Ptriawan

also look at https://www.justice.gov/usao-sdny/pr/founder-cyberfraud-prev... , the CEO of this company is serving 5 years in prison time.

What dealbreaker's analysis say the tuesday morning/REV/Invictus deals is similar to previous event in 2020 when Invictus (the bankruptcy specialist hedge fund) that tried to save Tuesday Morning in 2023 was also trying to save NS8 in 2020 but the NS8 CEO is stealing 125 mil to their own pocket and now in jail. Just last year the executives of Invictus is fired by the owner (ex-GS executive). 

What I don't get is the relationship between REV and Invictus. But co-owner of REV is also having site like deal.ai and such.... it was way more complicated than what we thought it was. It's total double collusion corruption mixed with highly leveraged debt + scam + ponzi.

Quote from @V.G Jason:

Quote from @Carlos Ptriawan:

based on very quick AI search , the norada failed because of REV and the REV failed because in 2023 it tried to acquire tuesday morning using convertible debt loan but on Q1 2022 the creditor in this case wells fargo bank, stopped the credit funding hence tuesday morning filed bankruptcy causing REV to file bankruptcy causing norada investor to lose money. 

From AI Financial difficulties: Despite the $35 million investment from REV, Tuesday Morning continued to struggle financially. The company revised its projections to forecast a potential $29 million adjusted EBITDA loss for the fiscal year following the acquisition. This suggests the capital injection was insufficient to fully stabilize the company's finances.
Bankruptcy filing: In February 2023, just months after the REV acquisition, Tuesday Morning filed for Chapter 11 bankruptcy protection for the second time. The company cited its creditors, led by Wells Fargo, terminating its ability to borrow more money to finance operations and accelerating credit facility obligations as contributing factors.

 Goofy Wells Fargo backing up Tao Lopez? Wells Fargo can't get out of it's own way how does Tao keep doing this over and over again, and folks never remember?

It tapped out 02/2023? So for 1yr + Norada has been running on E or am I misreading that?

so during the bankruptcy proceeding, the court only allowed 1/5 of funding requested ; after that event WFC increased the reserve requirements of their credit line for tuesday morning, forcing TM filed bankruptcy again. this time forcing the REV also to close the shop.


i still curious whether any of investor really really ever receive 25% annualized or this is just their day dream as well. 

Also the whole chain of event has correlation with hedge fund that's owned by ex-GS executive and this hedge fund is also fighting in court with Jeffries. What a total mess lol

https://dealbreaker.com/2023/11/hedge-fund-that-invested-in-...  

based on very quick AI search , the norada failed because of REV and the REV failed because in 2023 it tried to acquire tuesday morning using convertible debt loan but on Q1 2022 the creditor in this case wells fargo bank, stopped the credit funding hence tuesday morning filed bankruptcy causing REV to file bankruptcy causing norada investor to lose money. 

From AI Financial difficulties: Despite the $35 million investment from REV, Tuesday Morning continued to struggle financially. The company revised its projections to forecast a potential $29 million adjusted EBITDA loss for the fiscal year following the acquisition. This suggests the capital injection was insufficient to fully stabilize the company's finances.
Bankruptcy filing: In February 2023, just months after the REV acquisition, Tuesday Morning filed for Chapter 11 bankruptcy protection for the second time. The company cited its creditors, led by Wells Fargo, terminating its ability to borrow more money to finance operations and accelerating credit facility obligations as contributing factors.

Quote from @Engelo Rumora:

Quote from @James Hamling:

Quote from @Carlos Ptriawan:

Quote from @James Hamling:

Quote from @Jay Hinrichs:

Quote from @Bruce Parkinson:

Is anyone filing a complaint with the SEC or FINRA against Norada?

probably way to early to do that.. dont you think ?  I mean has anyone proven that something was not disclosed or done against SEC rules ? 

Everything I can find on this "notes investing" reads to me as CLO investing. 

And I think it may be more a matter of people jumping into CLO investing without really knowing or comprehending what they were even doing, as crazy as that sounds. 

Really ? CRE CLO is still regulated though. So CLO is still typically investing inside real estate, but this company seems operating more like fund manager/unregulated private equity when they invested to REV,

It has been a while Norada and Lane was on my "bizarre investment" watch list with their return level of post-usury level that can't be beaten or understood in this market in 21st century.

I was think before Norada is more like Peer Street , but no, he's more advanced than that. Even PS blowing up is not really news, it was expected.

What is inside the book of Norada really ?

No, from what I read the "notes" (CLO's) were completely separate from the real estate operations of things. 

And I found one business strategy talking about turning RadioShack into a crypto clearing house...

Nothing I found makes any real business sense to be honest. 

I was at a business dinner in NYC mid 2017 with a few Wall St guys and they said they would plow their retirement funds into Overstock (Beyond).

Similar concept, changed from e-commerce to crypto exchange.

They are still around and price is at what is was in 2017 although it did 10x at one point during crypto moon in 2021.

So I guess it is possible but highly unlikely IMO

 Tai Lopez is outright fraud based on utube ->  watch?v=TENZ8t8ufIM

you may want to check when this lopez guy had dinner with your friend. lol

Quote from @James Hamling:

Quote from @Carlos Ptriawan:

Quote from @James Hamling:

Quote from @Jay Hinrichs:

Quote from @Bruce Parkinson:

Is anyone filing a complaint with the SEC or FINRA against Norada?

probably way to early to do that.. dont you think ?  I mean has anyone proven that something was not disclosed or done against SEC rules ? 

Everything I can find on this "notes investing" reads to me as CLO investing. 

And I think it may be more a matter of people jumping into CLO investing without really knowing or comprehending what they were even doing, as crazy as that sounds. 

Really ? CRE CLO is still regulated though. So CLO is still typically investing inside real estate, but this company seems operating more like fund manager/unregulated private equity when they invested to REV,

It has been a while Norada and Lane was on my "bizarre investment" watch list with their return level of post-usury level that can't be beaten or understood in this market in 21st century.

I was think before Norada is more like Peer Street , but no, he's more advanced than that. Even PS blowing up is not really news, it was expected.

What is inside the book of Norada really ?

No, from what I read the "notes" (CLO's) were completely separate from the real estate operations of things. 

And I found one business strategy talking about turning RadioShack into a crypto clearing house...

Nothing I found makes any real business sense to be honest. 

 haha crypto operating radioshack back-end with real estate flipper as storefront ; holy cow.... 

these kind of super return can only be done legally if you sell zepbound or nvidia H100 GPU lol lol

i hope nobody among us would be an actor inside next episode of netflix's 'American Greed' lol

Quote from @James Hamling:

Quote from @Jay Hinrichs:

Quote from @Bruce Parkinson:

Is anyone filing a complaint with the SEC or FINRA against Norada?

probably way to early to do that.. dont you think ?  I mean has anyone proven that something was not disclosed or done against SEC rules ? 

Everything I can find on this "notes investing" reads to me as CLO investing. 

And I think it may be more a matter of people jumping into CLO investing without really knowing or comprehending what they were even doing, as crazy as that sounds. 

Really ? CRE CLO is still regulated though. So CLO is still typically investing inside real estate, but this company seems operating more like fund manager/unregulated private equity when they invested to REV,

It has been a while Norada and Lane was on my "bizarre investment" watch list with their return level of post-usury level that can't be beaten or understood in this market in 21st century.

I was think before Norada is more like Peer Street , but no, he's more advanced than that. Even PS blowing up is not really news, it was expected.

What is inside the book of Norada really ?

Quote from @Alan F.:

Quote from @Carlos Ptriawan:

Quote from @David C.:

You will have to get permits and disclose your contractor ...

AB 968 requires the seller of a singlefamily residential property to disclose work done on the property, if the seller obtained title of the property within the previous 18 months. Specifically, the law requires the seller to provide information regarding all room additions, structural modifications, alterations, or repairs made to the property since obtaining title if they were performed by a contractor. Only contracts totaling $500 or more are required to be reported. The name of each contractor with whom the seller entered into a contract for the work and copies of permits must also be disclosed. This disclosure requirement applies on or after July 1, 2024.

 lol the best to sell is after one year anyway …. This regulation only ask about another 6 months 

 Holding period is 18 months, as I recall.

 one year is to avoid dealer tax regulation, add another 6 months, yeah so total 18 months anyway , this doesn't change much expect folks would do less agressive buying.

also for me in this market it doesn't make sense to immediately sell but better wait for 14 months at least.

Quote from @Mike K.:

I work for a bank that lost $3 billion last year.   I'm worried about the bank going under and losing my job.  Can't say any more than that. Taking on heavy debt with a negative cash flow on the promise of future appreciation doesn't work for me. Trust when I tell you the house of cards is going to collapse. It's not sustainable. The website I purchased has stable income with a large positive cash flow which will help me feed my family and get through what is coming. I apologize if my tone is harsh. I'm really trying to help people expand their thinking beyond only focusing on RE investments.

 You are brave person to able to say that in bp lol

Quote from @Engelo Rumora:

Quote from @Carlos Ptriawan:

Quote from @Engelo Rumora:

Quote from @Jay Hinrichs:

Quote from @Engelo Rumora:

Quote from @Michael P.:

If only it was that easy amigo.

Bitcoin Jesus renounced us citizenship in 2014.

Didn't pay $200m in taxes I believe for 2012 (While still a citizen).

Interpol just picked him up in Spain not too long ago.

So you gotta do the fraud after you renounce your residency in order to run and have better chance of not getting dragged back to US soil hehe

well Clayton Morris just took off with the 4 to 5 mil he made selling fake houses in indy and other places.. well houses existed they just forgot to rehab them.

Good luck finding me in Croatia mate

My ex's dad who sold his financial advisory firm in 2006 to AXA Asia Pacific for $300m told me "If you're going to go to jail, don't go for $5m, go for $500m" hahaha

 Basically you said that 5 years in jail is okay if you can keep 500mil in the bank considering everything :)

Don’t take it seriously is only a joke lol

Would you go to a while collar jail for 5 years if you can keep $500m?

Many folks would I bet 

Personally, I have no price and prefer sleeping well at night haha  

Jay knows an instance where my company was printing money “cleanly” but where in bed with an operator that wasn’t legit.

Cut ties and cost us probably millions in doing so…

 This is actually more common than what people thought  lol lol 

So the bank owner that flew to China is very literal meaning , they robed  their own banks , fly with their own jet, with all hard cash money ….. and no , this is not Escobar operation …. 

Except it is more legal and a reality.

Quote from @David C.:

You will have to get permits and disclose your contractor ...

AB 968 requires the seller of a singlefamily residential property to disclose work done on the property, if the seller obtained title of the property within the previous 18 months. Specifically, the law requires the seller to provide information regarding all room additions, structural modifications, alterations, or repairs made to the property since obtaining title if they were performed by a contractor. Only contracts totaling $500 or more are required to be reported. The name of each contractor with whom the seller entered into a contract for the work and copies of permits must also be disclosed. This disclosure requirement applies on or after July 1, 2024.

 lol the best to sell is after one year anyway …. This regulation only ask about another 6 months