Q&A Gold Buy/Sell Tracey K/Richard H 20110929

These are answers to Tracey from Richard, the CEO of the Gold Buy/Sell Program. I thought this may be of interest and benefit to you:

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Here are your answers from Richard, the CEO:

Joe,

My good friend Larry Goldman came over to the office to listen to the call today.  We’ve done biz for many years and he knew I’d be interested.  Good call today, very informative.  Excellent.  We try to answer as many questions as possible while providing a good “Overview” on what it is we do and how we do it.  It’s encouraging to get good/nice feedback…

Questions:

1. Assets that can be used…  Would Real Estate backed mortgages be accepted?  I’m afraid not…  We can only use real cash flow tools.  And if so, at approx. what % to value?   I’ve got performing notes I’d like to leverage.  I’ve also got free and clear real estate I’d like to leverage but due to the crash no banks are making loans to investors anymore.  Greg may be able to help with that, but without seeing any type of package, we certainly can’t “guarantee” anything. 

2. A loan we took out on our 401k for another investment is going to pay back soon and we’re thinking of rolling it into this instead of paying it back.  How long does the paperwork take to process before receiving the first check?  The “paperwork” initially consists of a CIS (Client Information Summary), POF, and copy of a govn’t issued photo id for compliance purposes.  (Compliance for our Managed Buy/Sell Programs only takes a couple of hours on our end to run once initiated…)  We like to do a “one-on-one” introductory conference call to explain everything from “A-Z” and answer any additional questions we can at that time.  If the prospective client is still interested in moving forward, we’ll email a Sample Asset Management Agreement to review along with a Sanitized “Overview” to ensure everyone is comfortable with the “contract language.”  (It’s been at least six months or more since anyone has requested to make even a small change here or there within that document, and its been reviewed by dozens of attorney’s looking to make their next Lexus payment.)  Once we get confirmation that everything is acceptable – we’ll put together and send off the entire package for execution to include: An executable Asset Management Agreement, Distributable Profit Disbursement Arrangement, and Wire Coordinates for our US Trade Account.  These docs contain all of the info necessary to complete any level of due diligence still required.  Process and Procedure dictate we wait until we get a firm commitment from a prospective client that they are moving forward before supplying Passport Numbers, International Gold Trading License, etc… (We have actually had individuals and entities attempt to utilize our licenses and identities without our knowledge or permission in other countries.)  Once the prospective client completes their due diligence (which we are not concerned about in the least – we’ve been doing this a long time and have perfect records), they’ll need to execute the AMA and DPDA with a wet ink signature, scan it, email it to us for execution, and fund the trade account.  The entire process could take as little as 48 hours or as much as 2 full calendar weeks – it’s really up to the client.  The “clock starts ticking” the day the funds clear the trade account.  The first tranche will occur within 25 banking days (from that date) and occur monthly thereafter.  Is there a certain cycle?  I’m afraid I don’t really understand that question… 

3. Tailings… Do I have to own the land on which the tailings sit, or can it be a leased mine with tailings?  I’m assuming you want to pull the cash value out of the tailings, correct?  Again, Greg may be able to offer you viable options to entertain with hard assets.