Thank you Lou, and a few others for taking the high road during this astounding bashing of a totally above board, honest and legal effort to build a top quality golf club.
And to think this all started when someone asked us about cutting down trees!
I will not attempt to discuss on this forum the details of the business model of Harmony. I will not quote numbers of members who have committed by deposits and Promissory Notes to pay the Initiation Deposit in effect at the time they decided to join. Harmony is represented by prestigious legal counsel and we will defend our honor in court if necessary.
What I WILL say is that at NO time has any person ever been deceived by the membership model for this club. From day One, every person was told we would escrow in a local bank all deposit monies until we reached 100 mbrs. At that point, we felt we would a)have a critical mass of interest in the club, and b) have committed cash deposits and notes that would total enough money to get a significant part (if not all) of the course built...without having to borrow a penny. If we were not able to reach that goal by Apr. 1 of this year, every penny of escrow money, plus interest will be returned by our escrow agent.
I and my partners in this project have invested over $1MM of seed money w/ absolutely no insurance that we'll ever see a dime of return. The mbrs. we have, have obligated close to $2MM that is sitting in escrow and/or is obligated via Promissory Note.
We have a 150 yr. lease on the property that has value, but w/out building the course, we are at great risk of never seeing any return. Is that a strategy of nefarious crooks that have a dark underbelly?
I am disgusted at the insinuations made by Mr. Frey and am truly puzzled at what has triggered his venom. We have no interest in "competing" w/ any local developments, since we don't and won't sell real estate. If there is any local ill will, I can only speculate it possibly came from the principals of Cuscowilla, who have seen some of their members/property owners buy a 2nd membership at Harmony, and who were politely turned down when they attempted to buy us out a year ago.
I will welcome anyone who is w/in driving distance of us to personally come and see the "scam", and discuss in person the details of our membership plan and business model. I will not give Mr. Frey the pleasure of any further response, and would warn him to exercise caution at any further damaging posts on this forum.
Kent Hassell