Project/Necessary changes in involvement in EcoReality

From MediaWiki

Jump to: navigation, search
This has been agreed among those involved by unanimous consent on 20111221.
Since it has been agreed, the page is locked.
Contact WikiSysop to make small corrections (spelling, grammar, etc.) or add an agenda item to re-visit this agreement at an appropriate meeting.

Money loss graph.jpg

Contents

Project ID: 136

Project steward

Jan Steinman

Need

To smoothly transition people from the current irreconcilable differences among those invested in EcoReality.

Description

Spring 2010: the directors agreed to put the EcoReality assets up for sale in preparation for dissolving the co-op and paying out the proceeds to debt holders and investors.

July 2010: an investor came forward who was willing to cover about 56% of EcoReality's long-term debt, so we could continue operations and future plans. The directors agreed to seek financing on the balance.

October 2010: together with that new investor, we crafted a business plan in order to qualify for a loan on the balance of our long-term debt. At that time, we assessed EcoReality's finances, and agreed that we had about one year to either make the business plan work, or once again face financial crisis.

October 2011: for various reasons, largely due to differing work-styles, the past year has not seen successful implementation of the business plan, showing a net loss for the year. The members and three major investors have all been made aware of this situation.

November 2011: we are now at a point where EcoReality can no longer service our debt from co-op operations, forcing us to assess site occupants rental fees in order to service debt.

December 2011: one of the three site residents refuses to pay rent or sign a rental agreement (twice) in order to service debt.

January 2012: The three biggest investors agree this is a matter of irreconcilable differences, and seek one of the following solutions:

  1. Someone buy out their full interest in the co-op,
  2. Someone buy out the other investor's full interest in the co-op,
  3. Put the co-op assets up for sale once again, in preparation for dissolving the co-op and paying out proceeds to debt holders and investors.

If we cannot agree on one of these approaches, an unpalatable fourth alternative will occur: foreclosure and forced liquidation of EcoReality assets.

Minutes:20120125: resolution to allow transfer of investment shares upon board approval.

Status

  1. 2011-10-10: Jan verbally informed Ron of the financial situation, and outlined what he saw as the three alternatives cited above.
  2. 2011-10-24: EcoReality retains solicitor Henley-Walden of Sidney to oversee the proper execution of alternatives cited above.
  3. 2011-11-29: vote to approve liquidation of EcoReality assets was defeated by one investor, meaning alternative #3 is not viable unless that investor changes his mind.
  4. 2012-01-06: notification of request to allow transfer of investment shares with approval of Directors.
  5. 2012-03-17: white house rental ads placed on:
  6. 2012-06-01: white house successfully occupied by Geo Morrow.
  7. 2012-07-17: Carol expresses her desire for uninvolvement with EcoReality.
  8. 2014-05-23: Carol hires a lawyer and attempts to force liquidation of EcoReality assets.
  9. 2016-03-20: Carol settles for 8.1% of her initial claim.

Goal or deliverable

  • Implementation of one of the three alternatives cited above, such that
    • the solution is legally not challengeable,
    • in the case of alternative #1 or #2, the intention is that the parties eventually recoup their full investment.
  • Implementation to take place in the first half of 2012.

Timeline, schedule, or end date

  1. 2011-10-10: project started.
  2. 2011-11-29: obtain approval for alternative #3.
  3. 2011-12-23: vetting of coop rules in order to implement alternative #1 or #2.
  4. 2011-12-30: notice of any required special resolutions delivered.
  5. 2012-01-25: special resolution election meeting.
  6. 2012-01-26: submission of any required changes to coop rules.
  7. ... and then a miracle occurs...
  8. 2012-06-30: implementation of one of the three alternatives above.

Plan

  • Inform stakeholders of the situation. DONE
  • Retain legal counsel. DONE
  • Seek initial approval for alternative #3, so it doesn't need to happen later in a panic. DEFEATED
  • Seek approval of three members/directors and the three biggest investors for this plan. DONE
  • Make necessary changes to coop rules in order to implement alternative #1 or #2. DONE
  • Seek investors needed to implement alternative #1 or #2. IN PROCESS

Financial budget

Item Expense
Legal $6,000.00
Travel $500.00
Telephone $50.00
Filing Fees $255.00
Total $6,805.00


Labour budget

This project is not expected to incur any compensated labour expense. The following is provided for planning purposes only, to show how much less labour is available for other co-op business.

Item Hours
Meetings, Phone, Correspondence 200
Writing, Editing 200
Travel 20
Total 420


Records

1 to 26 of 130 [1] 2 3 4 5 6
WhoInOutHoursTotalActivityAccomplishmentPaid
Jan Steinman2016-03-25 15:00:002016-03-25 16:56:001.93331.93NegotiatingWagner v EcoReality requestno
Jan Steinman2016-03-24 18:10:002016-03-24 19:30:001.33333.26ResearchingCarol hours spreadsheetno
Jan Steinman2016-03-24 09:30:002016-03-24 15:10:005.66678.93Researchingfiguring out how to send Carol moneyno
Jan Steinman2016-02-18 16:05:002016-02-18 16:35:000.50009.43ReviewingCall court about Wagner v EcoRealityno
Jan Steinman2016-01-28 09:50:002016-01-28 11:10:001.333310.76Managing Informationto Ganges to transfer George's loan (for settling Wagner v EcoReality) backno
Jan Steinman2016-01-27 13:01:002016-01-27 14:00:000.983311.74Telephone/Video Communicatingtalk to George about Wagner v EcoReality loanno
Jan Steinman2016-01-26 15:10:002016-01-26 15:34:000.400012.14Telephone/Video Communicatingtry to contact George about Wagner v EcoReality loanno
Jan Steinman2016-01-25 16:14:002016-01-25 16:34:000.333312.47Telephone/Video Communicatingtry to call George about Wagner v EcoReality loanno
Jan Steinman2016-01-21 14:40:002016-01-21 16:40:002.000014.47Shippingmail Wagner v EcoReality docsno
Jan Steinman2016-01-21 13:12:002016-01-21 14:40:001.466715.94CorrespondingWagner v EcoRealityno
Jan Steinman2016-01-20 13:50:002016-01-20 14:40:000.833316.77Reviewingfiguring George's loanno
Jan Steinman2016-01-20 11:10:002016-01-20 11:50:000.666717.44Shippingmail documents for Wagner v EcoRealityno
Jan Steinman2015-12-07 13:17:002015-12-07 14:05:000.800018.24Editingfigure out what needs to be done in Wagner v EcoRealityno
Jan Steinman2015-10-06 13:48:002015-10-06 14:13:000.416718.66NegotiatingCall George S about funding Wagner v EcoReality settlementno
Jan Steinman2015-09-09 00:00:002015-09-09 01:00:001.000019.66ConsultingNotarize document in Wagner v EcoRealityno
Jan Steinman2015-08-23 00:00:002015-08-23 01:00:001.000020.66ResearchingWagner v EcoReality filing researchno
Jan Steinman2015-08-17 17:47:002015-08-17 18:41:000.900021.56ResearchingVerify CPL is removedno
Jan Steinman2015-07-31 14:45:002015-07-31 17:45:003.000024.56TravelingWagner v EcoReality: travel home after JSCno
Jan Steinman2015-07-31 14:00:002015-07-31 14:45:000.750025.31NegotiatingWagner v EcoReality: Judicial Settlement Conferenceno
Jan Steinman2015-07-31 09:25:002015-07-31 11:19:001.900027.21TravelingWagner v EcoReality: travel to Judicial Settlement Conferenceno
Jan Steinman2015-07-31 09:00:002015-07-31 09:25:000.416727.63PreparingPrep Supreme Court Judicial Settlement Conferenceno
Jan Steinman2015-07-29 15:19:002015-07-29 17:20:002.016729.65EditingWagner v EcoReality: complete form F17Ano
Jan Steinman2015-07-24 16:00:002015-07-24 16:56:000.933330.58Telephone/Video CommunicatingWagner v EcoReality: change JCC to JSCno
Jan Steinman2015-07-24 12:00:002015-07-24 13:40:001.666732.25EditingWagner v EcoReality: file papersno
Jan Steinman2015-07-23 14:10:002015-07-23 19:30:005.333337.58NegotiatingWagner v EcoReality settlement acceptanceno
1 to 26 of 130 [1] 2 3 4 5 6

Vehicle Log

WhoVehicleDateDist/TimeCostPurposeNotesPaid
Jan SteinmanBubba2016-01-2824 km$10.560EcoRealityRepay loan taken out to settle Wagner v. EcoRealityno
Jan SteinmanBubba2015-11-022 km$0.880EcoRealityvisit mailboxno
Jan SteinmanCleome's Jetta2015-09-0923 km$5.520EcoRealitylegal: notarize Wagner v EcoReality settlement, deposit (42)no
Jan SteinmanBubba2014-08-1525 km$11.000EcoRealityVancouver Supreme Court for Wagner v. EcoReality JCCno
Jan SteinmanBubba2014-06-2625 km$11.000EcoRealitySend Wagner suit response via Salt Spring Air.no
Jan SteinmanBubba2014-06-2525 km$11.000EcoRealityAttempt to mail EcoReality response to Wagner suit.no
Carol WagnerBlue Jetta2012-06-1228 km$12.320EcoRealitycredit union for Ron, grocyes
Jan SteinmanBlue Jetta2011-10-2721 km$9.240EcoRealityDale Henley, Sidneyyes

Summary

by person

IDWhoHours
2Jan Steinman299.6
2TOTAL:299.6

by activity

IDActivityHours
1Administering1.7
28Consulting19.7
46Controlling Pests52.9
16Corresponding17.3
39Delivering6.6
34Editing12.8
33Entering Data4.0
19Hospitalitizing4.9
5Managing Information1.8
24Negotiating51.6
20Networking7.0
7Planning21.8
15Preparing20.9
11Researching45.2
31Reviewing7.5
21Shipping2.7
25Telephone/Video Communicating6.0
9Traveling4.9
32Writing10.3
32TOTAL:299.6

by vehicle

"Vehicles" with no odometer, such as tractors or stationary equipment, are in tenths of an hour, rather than kilometres.

IDVehicleDistance
1Blue Jetta49 km
5Bubba101 km
12Cleome's Jetta23 km
12TOTAL:173 km


Final accounting

Item Expense
Total

Share your opinion


blog comments powered by Disqus
Personal tools
Get our newsletter!
Name:
Email Address:

disturbance
entry points
help (off site)
Powered by the wind! This server and other
EcoReality operations
are 100% wind powered.
Powered by Mac OS X Powered by Mac MediaWiki Powered by MariaDB Powered by Valentina Studio Pro