Fund: GreenHills Ventures
Posted by mlinderman on 2007-11-14
"On October 7, 2007 Mlinderman posted a message on this website (The October 7th Posting") concerning the Company's engagement of GreenHills Ventures, LLC and Emanuel Martinez to perform the required due diligence on the Company and to assist in identifying certain investors from GreenHillsVentures Wealth Management Group (which is a separate and distinct entity from the GHV Fund, LP, an early stage venture fund). I hereby unequivocally retract and rescind the October 7th Posting.
The Posting made reference to a $15,000 fee that was paid by the Company to GreenHills Ventures.
I think and believe that the fee received by GreenHills Ventures was used to cover only a portion of the actual out-of-pocket expenses and the Company has been advised the actual expenses incurred by GreenHills Ventures went over the fee paid for completing its due diligence and preparing a due diligence package and certain investor presentations for use by the Company. I also note that GreenHills Ventures and Emanuel Martinez succeeded in bringing an investor group to the Company with the appropriate background and expertise, but ultimately that investor and others decided not to invest in the Company.
The Company apologizes for making the Posting in haste and causing questions to be raised regarding the ethics and the good reputation of both Emanuel Martinez and the GreenHills Ventures team.
I do not and have never meant to suggest that GreenHills Ventures or Mr. Martinez acted unethically, or illegally, or improperly in connection with its agreement with the Company. Accordingly, I hereby retract the October 7th Posting in its entirety"