All Forum Posts by: Ron Clapp

EVERYONE PLEASE LISTEN!!!!!!!!!!!!

We know that Pinnacle has at least 45 days before they are due to appear in court. What we don't want to happen is for the receiver to think we don't care about our money and drag this case on for years. I looked at his site and he still has cases that date back to 2004.

We need to let the receiver know that we care about our money and we have emotions to our funds whether it be from 5k to 250k. No amount it too little or too high not to care about.

I encourage everyonoe to email their story to [email protected]. You can state how your life has changed since you invested in pinnacle, how bad you need your money back, or that you would like to get your principle back if nothing else. Just say something!!!!!!!

There are 2000 of us and only 1 of them (that I know of). If anyone is interested in hearing what the plan is, please email me at [email protected]

IF YOU WANT ANY CHANCE OF GETTING ANY MONEY BACK PLEASE EMAIL YOUR STORY TO [email protected]

Thanks for your attention!!!!

To all investors,

I just got off the phone with the GA SEC. All of Pinnacles assets have been frozen including their bank accounts. They said that Pinnacle has allegedly has misrepresented material facts. The receiver appointed to the file is Mr. Hays and you can view his site tomorrow for more information about what we should do. That url is www.haysconsulting.net. Be sure you put in dot "net" and NOT dot "com." The receiver is at Pinnacles office now and gathering information and other things. They also stated that the receiver has 45 days to bring their case to court. And it could be 30 days before we have any further updates. It is believed that Pinnacle owns 13 million in real estate. With that being said, they stated that it may not be a total lost for us investors since pinnacle does have assets. But there is no time frame on how long it will take to sell pinnacle's assets to repay investors.

As for the checks that were deposited and have not cleared the bank, I was assured that they will bounce, since pinnacle's accounts are frozen. I would try to go down to the bank and talk to someone about your situation to see if there is anything you can do about avoiding a return check fee. Maybe try to reverse or cancel the deposit. It's worth a try, so you won't encounter any fees on pinnacle's behalf. It's not our fault that their accounts are frozen.

I will update more as more becomes available.

Splinterlife, you have a really good point and I agree with some of them. I think that people have the right to post their thoughts and state facts. But I also believe that people stand to be corrected if they post something that does not apply to pinnacle and claim that pinnacle has broken a law/rule. That only raises panic and adds to our concerns over a false accusation.

I hope this clears up some things. If not let me know.

Nice post Onie. We all need to remember that now is not the time for any legal action and as long as pinnacle is paying we need to give them our support. I wish all of us the best.

Corbin64, thanks for the information. It was very helpful.

I also want to thank the moderator for keeping this forum open to us. As this is probably the main place on the internet when us Pinnacle investors can go to get information and interact with eachother. We should all be grateful for this forum.

If I am not mistaken, this thread has been viewed almost 40,000 times. Which is way way more than any other thread on this forum. This means that either there are a lot more people reading than there is posting or we are logging into this forum more than a few times per day. Biggerpo can you correct me if I am wrong?

Once again, I would like to thank everyone for their support and posts and I hope we will hear more success stories in the near future.

Thanks for the reply tms. I have a better understanding now. Correct me if I am wrong, but are you saying that pinnacle had the option to either register with the SEC or not to register with the SEC? Also, are you saying that only accredited investors can create partnerships and/or invest in real estate? Please correct me if Im wrong as I am open to receiving new information on this topic.

It is to my understanding that when you form a legit LLP or LLC that the members and managers run the corporation based upon their agreement that is on file. Therefore, when the LLP or LLC purchases a property the property is owned by the company and the assigned manager can sign on behalf of the company. Furthermore, when profits come in, it flows through the company and then is disbursed to the members as agreed. Like I said earlier, this is just my understanding and I am not an expert.

Please feel free to email or pm me.

tms, when you enter into a partnership with other's and create a LLP or some other partnership entity to buy real estate are you required to register with the SEC?

Here is pinnacle's ad in the News Week:

http://www.newsweekshowcase.com/real-estate-ga/pinnacle-development.php

I agree, it is illegal to advertise a guaranteed return. And I can honestly say that this has been a good learning experience for a number of us, myself included.

Hello all, I went to Wachovia today at 8:59am and stood in line for 10mins. when I finally got to the teller I had her call to verify the check to ensure it would clear. It took a while but the check did verify. I was then able to deposit the funds in my wachovia account with no holds or problems.

Here is what I have done in the past when I receive a check that is not written on a local bank. I take that check to my bank and have the teller call the other bank on the phone while I am present. Then after they verify that the funds are there and there is not a stop payment on my check number, I asked them to deposit my check and make my funds available that same day or the next business day. This has worked for me in the past but I can not guarantee that it will work at other banks, but it is worth a try.

Cashier checks can be reversed but that is the risk that some of us will have to take. I believe a banker friend of mine told me that cashier check could take up to 3 business days to fully clear opposed to 10 business days for regular checks.

With that being said. I am sure that pinnacle is aware of the severe penalties of mail fraud and writing bad checks; therefore, we should not panic. It appears as though checks are going out and people are being paid.

Congrats to jgr and bigman's friend for their payment I am excited for them. Also, my friend here in my hometown received his check in the mail as well today. Lets hope that this trend continues.

Passivemoney, my friend talked to Robert Hendree today on the phone for a brief moment. But can you please keep us posted on your payment. Also you may want to ask for Cherise the next time you call pinnacle as she seems to be the person that can give you the info you want about your payment as well.

Kerty9, you made a post about your friend that is due in the mid of Oct but pinnacle told them that they shouldn't expect their payment until the end of Nov, is this correct or did you mean the end of Oct? Please correct me if I am wrong, Im just trying to understand.

I encourage everyone to post when they get paid and when they hear of someone else being paid. We all love to hear the successful payment stories.

Livitup, you bring up a good point. I found it rather strange that I receieved check before a few others that were due on sept 26th. My payment was due on sept 27th. I did confirm with a friend of mine that he has received his tracking number for his payment that was due on the 26th. Have you contacted pinnacle about your tracking number? If you have a tracking number then it is in the mail and you can track it at www.usps.com or call the usps customer service number and speak to someone about your package.

I encourage everyone to send an email to [email protected] with your story and please include the project that you are involved in based upon your agreement with pinnacle. If you have any questions please pm me. Thanks 00kevin for posting!

I agree with Chemar22, we do need to show our appreciation to the people at Pinnacle that we have been in contact with and those that are responsible for paying us.

I doubt if I will kiss dirt, but I will definitely understand your excitement when you get your check, lol.

I would like to extend many thanks to Cherise as well. She has been my main contact person since late sept. And she did a fairly good job of keeping me calm during my extended delays.

Bodhi, I can honestly say that neither I, Remy, or any other leaders will stop our pursuit to ensure all investors are paid. We are in this for the long haul and now is not the time for us to bail out just because we have received 2-3 checks out of 2000.

I would like to encourage any and everyone to post when they receive their payment or when they hear of someone else receiving a payment.

Thanks in advance for your support.

Chemar22, taxes were taken out of my check. Yes it was itemized. And I did receive my principle and interest, minus the taxes. They took taxes out of my check for all the interest they have paid me YTD for that account.