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BIDVILLE Games: Who's Selling What?
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 10:51 am    Post subject: BIDVILLE Games: Who's Selling What?  

Recently, Bidville, Inc. submitted their 2004 Annual Report for the Securities & Exchange Commission (Form 10-KSB). This report shows a variety of serious issues about the Bidville corporation and how they are conducting "business".

The full Annual Report that Bidville filed on April 15, 2005 can be viewed here: http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=3607891&Type=ORIG

The Annual Report shows an enormous number of issues:
1. Basic business accounting flaws in measuring business performance
2. Transactions involving other corporations (some of which are no longer in operation) for "consulting" to Bidville
3. Transactions involving other corporations that are actually owned and operated by the very individuals who own and operate Bidville, Inc.
4. Recent purchase of a corporation then the dissolution of that corporation for "poor performance" -- all within the same fiscal year (FY2004)
5. Questionable ethics and conduct of the Board of Directors of Bidville, Inc.
6. Non-disclosure of critical information regarding the operations of Bidville, Inc.

Information about Bidville, Inc. and many of the known Bidville, Inc. business practices will be discussed below in related threads....
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 11:02 am    Post subject:  

Quote: › docWrite("quote")http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=3607891&Type=ORIG
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 11:07 am    Post subject:  

The Bidville, Inc. timeline

Greatestescapes.Com Inc. (original business name) formed on Feb. 10, 1999 in Nevada

Greatestescapes.Com Inc . reorganized on October 12, 2000 Reason: the company acquired one hundred percent (100%) of the issued and outstanding shares of common stock of Capstra Capital, Corp. ("Capstra"), a Washington corporation, from the shareholders thereof in an exchange of an aggregate of 450,000 shares of common stock of Greatestescapes.Com and other consideration consisting of cash and payments of certain fees and expenses equal to $30,000.

Greatestescapes Corp.was formed right after the reorganization and acquisition of the Capstra stocks, on October 12, 2000. Reason: ("Subco"), a newly-formed Washington corporation, formed solely for the purpose of being a wholly-owned subsidiary of the Company.

Subco then merged with Capstra ("the Merger") on the same date, October 12, 2000, effective October 16, 2000. Reason: Reorganization.

Greatestescapes.com, Inc. entered into an agreement with its controlling shareholders and officers whereby the officers would acquire all the assets and operations of the Company in exchange for theassumption of liabilities related thereto. Further, a controlling shareholder surrendered 5,000 shares of common stock to the Company for no consideration, on December 1, 2000. Reason: Following this exchange agreement, Greatestescapes.com, Inc. had no assets, liabilities or operations.

Greatestescapes.com,Inc., changed the corporation name to American Ammunition, Inc. on July 17, 2001. Reason: Not cited; however, Greatestescapes had “no assets, liabilities or operations.”

American Ammunition, Inc., and approved authorization in its Articles of Incorporation to issue 50,000,000 shares, par value of $0.001, of preferred stock of the Corporation upon such terms, conditions, privileges and limitations as the Board of Directors deems appropriate; approved and filed with State of Nevada on July 23, 2001. Reason: Not cited.

American Ammunition, Inc. changed its corporate name to American Recreational Enterprises, Inc. ("AREP") on or about August 31, 2001.

American Recreational Enterprises, Inc. initiated a new business plan on February 14, 2003. Reason: Not cited.

American Recreational Enterprises, Inc. formed a new wholly-owned subsidiary, Lenders/Investors,Inc., April 23, 2003. The subsidiary, Lenders/Investors,Inc., was a Florida corporation, formed for the
purpose of (a)making medium to high risk unsecured loans to third party individuals, corporations and/or other entities;(b)equity investments in early-stage, early-growth, pre-IPO companies with a primary objective of both long-term appreciation as well as short-term profits; and (c)general asset management. From the time it was formed until the subsidiary was subsequently spun off to the Company's shareholders, Lenders/Investors, Inc. had not conducted any business.
Reason: Not cited.

American Recreational Enterprises, Inc. acquired NoBidding, Inc. NoBidding,Inc. and the individual holders of the outstanding capital stock of NoBidding, consummated a reverse acquisition on December 10, 2003. The Agreement provided for one hundred percent (100%) of the shares of NoBidding to be acquired by the Company in exchange for 20,000,000 shares of common stock of the Company and $50,000 cash and for the establishment of a new Board of Directors of the Company consisting entirely of NoBidding directors. The Agreement also mandated that the total issued and outstanding shares of the Company immediately after the closing of the transaction be 25,360,007 shares. The Company's subsidiary, Lenders/Investors, Inc. was spun off to the Company's shareholders prior to the Agreement and Reorganization, leaving NoBidding as the only wholly-owned operating subsidiary of the Company after effecting the Agreement. The Reorganization was accounted for as a reverse acquisition. Note: NoBidding, Inc. ("NoBidding"), a New Jersey corporation formed on April 19, 1999.

At this time, The Board of Directors of the Company (the "Board") appointed Gerald C. Parker, Michael Palandro, Robert W. Pearce, C. John Dewey and Edward Orlando (his term would expire would expire on August 23, 2004).

American Recreational Enterprises, Inc. changed the corporate name to Bidville, Inc. on December 10, 2003.

The Bidville, Inc. Company changed its stock symbol on the OTCBB from "AREP" to "BVLE" On January 7, 2004.

Bidville, Inc. acquired 321 Play, Inc. ("321"), a New York corporation, and its subsidiary Buy Sell Connect.com, Inc., also a New York corporation, to operate as subsidiaries of the Company. This acquisition took place on March 24, 2004.

Bidville, Inc. decided to discontinue the operations of 321 Play, Inc. because of the disappointing performance of 321 Play, Inc. on December 31, 2004
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 11:17 am    Post subject:  

Bidville, Inc. OTC Stock blurb from STANDARD & POOR

Bidville, Inc.
BVLE

Business Summary: Provides a website at www.bidville.com to facilitate auction and fixed price e-commerce between unrelated third parties. As of April 2004, the company had about 145,000 active members, with over 3,500 continually active sellers.

Address
601 Cleveland Street
Suite 120
Clearwater , FL 33755
Phone: 727-442-9669
Fax: 727-442-9444
Website: http://www.bidville.com

Transfer Agent
Pacific Stock Transfer Co.

Employees: 3
ShareHolders: 79
Founded: 1999
Domicile: Nevada

Provides a website at www.bidville.com to facilitate auction and fixed price e-commerce between unrelated third parties. As of April 2004, the company had about 145,000 active members, with over 3,500 continually active sellers.

It has over 1.3 million listings at any given time and has a marketing plan for recruiting new members.

The existing Bidville model produces revenues from seller membership fees and a schedule of charges for use of the site that includes certain benefits to enhance product listings. This revenue model will be modified to charge final success fees (but not a listing fee), based on final value of auction, as well as a more sophisticated and expanded listing enhancement program. The existing Bidville membership base will be gradually matriculated into these modifications. On Mar. 24, 2004, Bidville acquired 3 2 1 Play, Inc. (3 2 1) and its subsidiary, Buy Sell Connect.com, Inc., to operate as subsidiaries of the company. In exchange for all of the Common stock of 3 2 1, the company agreed to issue the existing 3 2 1 shareholders 500,000 restricted Common shares of the company and up to an additional 3,000,000 restricted Common shares payable upon 3 2 1 reaching certain performance goals.

History: INCORPORATED in Nevada Feb. 10, 1999, as Greatestescapes.Com Inc. Name changed to American Ammunition, Inc. July 23, 2001; to American Recreational Enterprises, Inc. Oct. 4, 2001; and to Bidville, Inc. Dec. 10, 2003, following the acquisition of NoBidding, Inc. for 20,000,000 Common shares. Prior to the acquisition of NoBidding, the company's subsidiary, Lenders/Investors, Inc., was spun off to the company's shareholders. NoBidding was incorporated in New Jersey Apr. 19, 1999.

Subsidiaries: NoBidding, Inc.

Source: http://www.otcbb.com/sandp/BVLE.htm
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 11:19 am    Post subject:  

There is a very large discrepancy between the membership numbers that Bidville touts and the legal information/salaries/bonuses that are found in the legal financial documents filed by Bidville.

In 2004, an Executive Employment Agreement was provided for the executive directors of Bidville. This Agreement stated that the BV executives would receive a base salary, stock options, and bonus money if specific criteria was met. This Agreement stated that there were Membership Enrollment Bonus monies if Bidville enrollment reached 210,000 members.

Neither Gerald Parker, President and Chairman, nor Michael Palandro, CEO, received a Membership Enrollment Bonus for membership increases.

From the BV 2004 Annual report, the following was noted regarding their bonuses:
"In accordance with his Employment Agreement, Parker received a $50,000 bonus in January 2004 related to the raising of $2,205,000 in private equity capital through a Private Placement Memorandum in December 2003. In addition, the Company accrued a $20,000 performance bonus at December 31, 2004 for Parker."

And for Palandro: "The Company accrued a $20,000 performance bonus at December 31, 2004 for Palandro."

So, Bidville, once again, fails to provide TRUE membership data, and within their corporate structure, no membership bonuses have been paid to the President or CEO.

Source: Bidville, Inc. 2004 Annual Report Form 10-KSB
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 11:46 am    Post subject:  

WHO IS WHO and WHO IS WHERE....Linking the key players:

Board of Directors of Bidville, Inc.

Gerald C. Parker President, Chairman of the Board
Michael Palandro, Chief Executive Officer
Robert W. Pearce, Secretary/Treasurer
Stephen C. Gingrich, Chief Financial Officer

Board of Directors of Royal Palm Capital Group, Inc.
(Royal Palm is an investment company and a major shareholder of Bidville/NoBidding stock)

Mr. Gerald C. Parker, Chairman/Director
Mr. Robert W. Pearce, Chief Executive Officer/Director
Mr. Peter Kirschner, President/Director
Mr. Kevin O'Kane, Vice President/Director

Board of Directors of St. James Investment Group, Inc.
(St. James Investment Group is a consulting firm that is currently under contract with Bidville/NoBidding for consulting.)

Mr. Gerald C. Parker, Director
Mr. Robert W. Pearce, President, Secretary
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angelsolutions



Joined: 08 Mar 2005
Posts: 3289
Location: Corpus Christi, TX

Posted: Wed Apr 20, 2005 11:52 am    Post subject: Re: BIDVILLE Games: Who's Selling What?  

In answer to your question.....
I'm selling....
Selling what? Avon! :D

"The Annual Report shows an enormous number of issues:
1. Basic business accounting flaws in measuring business performance
2. Transactions involving other corporations (some of which are no longer in operation) for "consulting" to Bidville
3. Transactions involving other corporations that are actually owned and operated by the very individuals who own and operate Bidville, Inc.
4. Recent purchase of a corporation then the dissolution of that corporation for "poor performance" -- all within the same fiscal year (FY2004)
5. Questionable ethics and conduct of the Board of Directors of Bidville, Inc.
6. Non-disclosure of critical information regarding the operations of Bidville, Inc. "

I'm a tax auditor these days, and I can tell you that this ENORMOUS number of issues is quite common.

#2 & 3 are very common among those who use corporation structure to conduct business. Example: I form a corporation structure to sell beauty products. :D Then I form another corporation as a beauty consultant. :D Beauty Consultant Inc charges Angelsolutions Inc fees for beauty consultation. Can it be abused? Naturally. I'm not denying that. Can you say Enron? I just wanted to illustrate that this practice isn't out of the ordinary and not always questionable or illegal.

#4 Also common. Example: Angelsolutions Inc. purchases Mary Kay Lady Inc in March. By October, Angelsolutions Inc realizes that Mary Kay Lady Inc isn't the happening thing she thought. Angelsolution's officer, who is now also the officer of Mary Kay Lady Inc, dissolves Mary Kay Lady Inc and lets it fade into the sunset as a learning experience. Sometimes corporations are purchased and tested for performance before an actual decision is made to "keep" it. Keeping it could mean assimilating it into the original corporation or leaving it as a separate entity.

In another example, I form another corporation "Angelsolutions Properties, Inc." Angelsolutions Inc pays rents to Angelsolutions Properties Inc for use of space to have a B&M store. Ownership of all properties resides with Angelsolutions Properties Inc.

#5 Bidville put their questionable ethics right in their annual report???? DANG!

Sorry....couldn't resist that one. I've seen in the news *ahem* quite a few corporations where the directors or officers have been charged with everything from DUI to pedofilia (sp). Does it reflect on the business of the corporation? Sadly, yes. Fairly? Sometimes not. However, it doesn't always mean that the business ITSELF is unethical. Ironically, the business itself could be quite successful, just unfortunately has officers/directors that need to move on.

If your questionable ethics statement results from your #2, 3 & 4, then sorry, but you cost yourself credibility. At least in my book.

This is not a DEFENSE of Bidville. It's an effort to put some reality into your insinuations. I'm not saying Bidville doesn't have technical issues, because they do. I'm not saying Bidville is where EVERYONE should sell, because it's not for everyone. Most sellers around here are game to try many sites. I sure am. I happened to have experienced some success there, and to me, that shows promise. Now that I'm settled there, I'm adding other sites as well. Plain and simple.

But I am saying that your constant posting of "facts" is purely negative. It does more to imply a grudge than anything else.

Here we go....I'll just get flamed again.

sylvia
angelsolutions
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nancybusinraleigh



Joined: 20 Feb 2005
Posts: 219
Location: North Carolina

Posted: Wed Apr 20, 2005 11:55 am    Post subject: Re: BIDVILLE Games: Who's Selling What?  

No, you flame others, not the other way around :lol:


And hang on there's more coming. And you keep defending everything about Bidville management....that's good :)
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 12:03 pm    Post subject:  

According to the Bidville 2004 Annual Report, Bidville, Inc has hired a consulting firm that is operated and owned by the same directors at Bidville, Inc/NoBidding.

This consulting firm, St. James Investment Group, Inc. is partnered with one of Bidville's large stockholders, Royal Palm Capital Group, Inc.

All three corporations are Florida corporations, and the Board of Directors for all three corporations are the same people.

ST. JAMES INVESTMENT GROUP, INC.
PRINCIPAL ADDRESS
625 N. FLAGLER DR., #605
WEST PALM BEACH FL 33401
Changed 11/10/2004

ROYAL PALM CAPITAL GROUP, INC.
PRINCIPAL ADDRESS
625 N. FLAGLER DRIVE, #605
WEST PALM BEACH FL 33401 US
Changed 01/24/2005

NOBIDDING INCORPORATED
PRINCIPAL ADDRESS
625 N FLAGLER DRIVE #509
WEST PALM BEACH FL 33401

Gerald C. Parker, the Chairman and President of Bidville/NoBidding is consulting to his own company, Bidville, from a different company. And all the while, he is also serving as the Chairman/Director of Royal Palm Capital Group, Inc.


And Robert W. Pearce, Secretary and Treasurer of Bidville/NoBidding is joining him in this consulting effort. Pearce's is also the CEO/Director of the St. James Investment Group. as well as CEO/Director at Royal Palm Capital Group, Inc.

What will the St. James consulting firm do for Bidville? According to the 2004 Annual Report that Bidville prepared, "The Company engaged St. James to render advice and assistance with regard to strategic transactions, planning, financing, public relations, and investor relations."

Now isn't that cozy? So if the investing firm, Royal Palm, wants to engage in investor relations with Bidville/NoBidding, they hire themselves through St. James Investment Group so that they can talk with themselves about Bidville/NoBidding.

And they are on the payroll with each corporation, taking bonuses and monies for duties in each corporation, talking amongst themselves (and to themselves).

The blurb at the Royal Palm site states:
"An important member of the Royal Palm team is our partner company: St. James Investment Group Inc., a merchant banking and consulting firm. We rely on St. James to review investments, make recommendations and perform thorough due diligence. This due diligence expands beyond a company's walls. St. James carefully analyzes and evaluates the target's external environment, such as industry, regulatory and competitive dynamics.

Following the closing of a transaction, the St. James team will fill or replace key management positions as necessary. At all times, the St. James team will maintain an active role in all aspects of the portfolio companies’ operations."

And how much will Bidville pay the St. James consulting firm to do this?

First year: $180,000 (retroactive from 10/2004 - 10/2005), Second year forward, the amount will be $20,000/month.
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angelsolutions



Joined: 08 Mar 2005
Posts: 3289
Location: Corpus Christi, TX

Posted: Wed Apr 20, 2005 12:06 pm    Post subject: Re: BIDVILLE Games: Who's Selling What?  

Told ya, folks.

Never have I flamed you or Patches, nancy and you well know it.

Perhaps you should read my post again, nancy. I plainly said I wasn't defending Bidville. Man, I wish you guys would "research" eBay this way. LOL

I'll repeat what I've said before nancy. Not playing word twisting games with you.

sylvia
angelsolutions
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nancybusinraleigh



Joined: 20 Feb 2005
Posts: 219
Location: North Carolina

Posted: Wed Apr 20, 2005 12:10 pm    Post subject: Re: BIDVILLE Games: Who's Selling What?  

I love the inbreeding that is showing up Patches, they obviously plan to peel off the top of all companies/consultants joined at the hip with one another, well actually, with oneself, Gerald Parker seems to be creating an entire array of 'hats' to wear, all which pay him off the top.

And BidVille showed a profit of $299.00 in the last annual report. Now we know why :roll:
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 12:12 pm    Post subject:  

"I'm a tax auditor these days, and I can tell you that this ENORMOUS number of issues is quite common."

Well, hello there, Angelsolutions. I thought you had placed my ID on "IGNORE"? Or did you now realize that the "Large List of Auction Sites" is under my guise and I am the author of the thread you have been viewing?

..."tax auditor these days" as opposed to the other days, when you are selling DING-DONG...Avon Calling!

Alot of people get murdered, but does that make it excusable because it is, as you put it, 'quite common'???

Sorry, but your continual snide remarks are only just that. Unless you know what you are actually talking about and have fact, not some silly little Avon-related comparison, go find something else to post your venom. Unless you decide to be reported for your continued harassment of me on this website. Just remember -- your own words are MY proof.
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 12:18 pm    Post subject:  

How about a list all of the corporations that have been registered by Gerald C. Parker in Florida? Most every one of the corporations is inactive and, frankly, I got bored looking them up, but here is the list:

PARKER, GERALD C


CREDIT INFORMATION SYSTEMS, INC. (Involuntarily dissolved)
NOBIDDING INCORPORATED (Active)
CIRILIUM HOLDINGS, INC. (The other company in the Royal Palm Capital Group portfolio)
BUY SELL CONNECT, INC. (Active)
3-2-1 PLAY, INC. (Active)
FIRST STANDARD VENTURES LTD. COMPANY (Inactive: Revoked for Annual Report)
INVESTMENT MANAGEMENT OF AMERICA, INC. (Inactive: Revoked for Annual Report)
CREDIT PROPERTIES, INC. (Involuntarily dissolved)
CREDIT INFORMATION SYSTEMS, INC. (Inactive: Voluntary dissolution)
KP LIQUIDATING, INC. (Inactive: Voluntary dissolution)
DYNA-TEC SUPPLY, INC. (Involuntarily dissolved)
PARKER RESTAURANTS, INC. (Inactive: Admin Dissolution for Annual Report)
CONTEMPORARY DESIGNS, INC. (Inactive: Admin Dissolution for Annual Report)
TEL TEK COMMUNICATIONS, INC. (Inactive: Admin Dissolution for Annual Report)
PREMIER ENTERTAINMENT, INC. (Inactive: Admin Dissolution for Annual Report)
KING/PARKER INVESTMENT, INC. (Inactive: Admin Dissolution for Annual Report)
ROYAL PALM CAPITAL GROUP, INC. (Active)
DYNA-TEC MARKETING SYSTEMS, INC. (Inactive: Admin Dissolution for Annual Report)
IMAGE TECHNOLOGY GROUP, INC. (Inactive: Admin Dissolution for Annual Report)
FLORIDA GULF REAL ESTATE SERVICES, INC. (Inactive: Admin Dissolution for Annual Report)
LANDMARK EQUITY GROUP, INC. (Inactive: Admin Dissolution for Annual Report)
NATIONAL LIQUID PRODUCTS, INC. (Inactive: Admin Dissolution for Annual Report)
GREYHOUSE SERVICES CORPORATION (Inactive: Admin Dissolution for Annual Report)
ST. JAMES PARTNERS, INC. (Inactive: Admin Dissolution for Annual Report)
JHH MANAGEMENT CORP. (Inactive: Admin Dissolution for Annual Report)
CAPITAL CREDIT SERVICES, INC. (Inactive: Admin Dissolution for Annual Report)
ST. JAMES TRANSPORTATION, INC. (Inactive: Admin Dissolution for Annual Report)
LC ENTERPRISES, INC. (Inactive: Admin Dissolution for Annual Report)
NC VENTURES, INC. (Inactive: Admin Dissolution for Annual Report)
ST. JAMES CAPITAL, INC.
ST. JAMES CONSTRUCTION CO., INC.
CENTRAL FLA WIRELESS COMMUNICATIONS, INC.
SAFETY HARBOR VENTURES GROUP, INC.
CAPITAL CREDIT SERVICES OF TAMPA, INC.
FIRST CHANCE MARINE FINANCE, INC.
PUBLIC ACCESS TECHNOLOGY.COM, INC.
AWAY ACQUISITION CORPORATION
IMA LEASING, INC.
IMA TRANSPORTATION, INC.
NEW IMAGE CONSTRUCTION GROUP, INC.
FIRST STANDARD VENTURES LTD. COMPANY
CRABBY BILL'S RESTAURANTS, INC.
CREDIT PROPERTIES, INC.
AMERICAN MANUFACTURERS VENTURES, LLC
IMA EMPLOYEES' STOCK, LLC
IMA PROPERTIES, LLC
PUBLIC ACCESS TECHNOLOGIES VENTURES 1, LLC
BYEBYENOW.COM VENTURES 1, LLC
LIQUIDGOLF VENTURE PARTNERS II, LLC.
DYNA-TEC MARKETING SYSTEMS, INC.
CRABBY BILL'S MANAGEMENT CORP.
ST. JAMES PARTNERS, INC.
JHH MANAGEMENT CORP.
CAPITAL CREDIT SERVICES, INC.
ST. JAMES TRANSPORTATION, INC.
LC ENTERPRISES, INC.
ST. JAMES CAPITAL, INC.
SAFETY HARBOR VENTURES GROUP, INC.
FIRST CHANCE MARINE FINANCE, INC.
IMA LEASING, INC.
IMA TRANSPORTATION, INC.
U.S. LIQUIDATORS INC.

Gerald C. Parker presently owns about 24% of Bidville, Inc. He also owns 54.75% of St. James Investment Group, Inc. and 37% of Royal Palm Capital Group, Inc. Gerald C. Parker may be deemed a control person of either St. James, Royal Palm or both. In the event he is deemed a control person in either of these entities, he may be deemed to beneficially own or control the shares of the Company owned by that entity.

As a result, St. James, Royal Palm, and/or Gerald C. Parker may be deemed to control or beneficially own a large percentage of the Company's issued and outstanding stock. In doing so, he may control decisions of the shareholders to elect directors, retain existing directors or make other important stockholder decisions. His opinions as a shareholder may influence his decisions as corporate officer and director, for which he owes the stockholders a fiduciary duty. In such a case, a conflict of interest may be deemed to exist.

Source: Florida Department of State, Division of Corporations
http://www.sunbiz.org/
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ThePerfectGift



Joined: 17 Feb 2005
Posts: 710
Location: I am 30 something :)

Posted: Wed Apr 20, 2005 12:18 pm    Post subject: Re: BIDVILLE Games: Who's Selling What?  

Okay everybody Breathe

In and Out

and remember we are all entitled to opinions on every issue - a great part of this board - lets respect each others rights

:)

The articles posted are quite convincing - but it is good to see th other side too

and Avon does make some nice stuff - I use it :)

Happiness all around :)
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Patches



Joined: 07 Mar 2005
Posts: 56
Location: Virginia's Shenandoah Valley

Posted: Wed Apr 20, 2005 12:24 pm    Post subject:  

On August 25, 2003 (Closing Date), NoBidding, Inc. (NoBidding) experienced a change in control whereby 85 shares of the 100 shares of issued and outstanding stock (85.0%) of NoBidding was sold by the then sole shareholder, Dr. Edward Orlando (Seller), to Royal Palm Capital Group, Inc. (a Florida corporation) (Royal Palm) for gross proceeds of $300,000. The purchase price was paid with cash in the amount of approximately $225,000 on or in advance of the Closing Date and a note payable to Dr. Orlando by Royal Palm in the amount of $75,000, bearing interest at 6.0% per annum which was paid in full, including accrued interest, on or before the original maturity date of February 21, 2004. The $75,000 note was secured by the 85 shares of stock purchased by Safety Harbor Capital Corporation LLC and Royal Palm. (Source: From BV 2004 Annual Report, F-4, NOTE)

Who is and why was Safety Harbor picking up a note by purchasing NoBidding stock??? Safety Harbor Capital Corp, LLC, is not listed as a corporation, but this Fla. Limited Liability corporation was a definate match:

SAFETY HARBOR CAPITAL GROUP, LLC
PRINCIPAL ADDRESS
625 NORTH FLAGLER DR., STE. 509
WEST PALM BEACH FL 33401
Changed 06/05/2003

Doesn't that address look familiar? WHY, yes! It is SAFETY HARBOR CAPITAL GROUP, LLC with the same address for NoBidding, Inc.
NOBIDDING INCORPORATED
PRINCIPAL ADDRESS
625 N FLAGLER DRIVE #509
WEST PALM BEACH FL 33401

So why would that be? Probably because the company is owned by….
Robert W. Pearce, CEO and Director of Royal Palm, and the Secretary/Treasurer at NoBidding.....
PEARCE, ROBERT W
625 NO. FLAGLER DRIVE, SUITE 509
WEST PALM BEACH FL 33401

Sources: Bidville, Inc. 2004 Annual Report;
Florida Department of State, Division of Corporations
http://www.sunbiz.org/
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