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    • Proof that Evosport is thousands in debt and soliciting customers for generation of capital

      Most of you saw that Benzboost broke the story last week on Evosport's debt and failure to deliver parts to customers. We quoted this debt as in the hundreds of thousands but now have exact up to date figures that were released by Evosport themselves. Where and why would they reveal these figures? They revealed the details in documents seeking investment from a select, hand picked group of customers in order to get money they need flowing in.

      Evosport has about $300,000 of debt with a quarter million of back orders that have not been fulfilled. They are cash strapped so they have hand picked a number of their customers to solicit for investment purposes. We have been able to get a hold of the proposal with all the details from more than one source. This investment group is being spearheaded by Jim Brady (James J. Brady of Ringler Associates) who is one of their customers. He is also a CLK63 Black Series owner and it is Black Series owners who are mostly being targeted for investment. Why Jim Brady is doing this for Evosport, we have no clue but will certainly try to find out.

      The investment documents are all detailed below. They verify that what was written previously is accurate. We now know the investment amount each customer is being asked to produce is $100k minimum. The documents are dated April 2011 so this information is as up to date as possible. Additionally, we do not know if Jim Brady has already invested as numerous sources have given us varying figures on his own commitment. It could be that he has already committed funds and that they have not been enough to pull Evosport out so other sources are being tapped.

      We feel this information is necessary to not only validate our investigative journalism, much of which was already confirmed by customers coming forward to say they had not received their parts as well as JRCART confirming his issues with Evosport, but also to warn potential investors and customers of the current situation. It is irresponsible to continue to collect money from customers who expect delivery of their parts when there are very real issues that affect if Evosport will even continue to be viable. Not to mention that Brad Otoupalik e-mailed BenzBoost with veiled threats about "slander" which this isn't, it is completely factual based on details Evosport has verified in its own documents sent out into the public. Attempting to silence this on MBworld and threaten us only caused more people to be willing to come forward in support of what BenzBoost had the courage to reveal. We will not be pushed around or intimidated by Evosport or anyone else for that matter for providing the community with the truth MBworld hides from them.

      You can verify all the information in the documents below. You can also see the questionnaire that attempts to assess just how much money the potential investor has. Evosport's fiscal information is all detailed as well as debt and pending litigation involving a damage claim to a Lamborghini. We have also been told of liens which if it becomes necessary we will look into in much further detail. Evosport is apparently in damage control mode attempting to pay off what they can which we have not been able to verify but have received some anonymous tips stating so. Additionally, one tip stated that Bob Otoupolik's credit cards have been locked but we do not know if this is true. If anyone has any information to verify this tip, do not hesitate to contact us.











      This article was originally published in forum thread: Warning to Mercedes Enthusiasts! Evosport hundreds of thousands in debt, not delivering parts started by Sticky View original post
      Comments 493 Comments
      1. MHP LLC's Avatar
        MHP LLC -
        I think you earned that Ultimate Blogger vote today. Wow.
      1. Exeenom's Avatar
        Exeenom -
        This information needs a new thread....
      1. JBond's Avatar
        JBond -
        Click here to enlarge Originally Posted by Exeenom Click here to enlarge
        This information needs a new thread....
        +1
      1. JBond's Avatar
      1. Sticky's Avatar
        Sticky -
        Click here to enlarge Originally Posted by JBond Click here to enlarge
        Yes.
      1. Sticky's Avatar
        Sticky -
        Click here to enlarge Originally Posted by Exeenom Click here to enlarge
        This information needs a new thread....
        No, it's all part of the same topic.

        It will have its own front page post though.
      1. Barfly's Avatar
        Barfly -
        So Evosport is allowed to do this but MHP is still banned?

        ROFL. It's a mad mad mad world.
      1. oldgixxer's Avatar
        oldgixxer -
        this is awesome! Id love to copy&paste in over on MBW but it'll be gone in seconds....
      1. JRCART's Avatar
        JRCART -
        About this time last week I was questioning the validity of some of the claims and figures in your original post but after reading the most recent post I'm not doubting anything. You need to change your name from Sticky to Dick Tracy.
      1. P31-C63's Avatar
        P31-C63 -
        yeah on MBworld!

        I didn't doubt the claims, now, no one can--nice work Sticky--let me register another vote on Ultimate Blogger!
      1. 930chas's Avatar
        930chas -
        Holy $#@! Sticky!! This is incredible stuff.
      1. Jake@Eurocharged.com's Avatar
        Jake@Eurocharged.com -
        wow! 252k worth of backorders~!!!!!!!!!!!!!!!!!!!!!!

        great info sticky!
      1. propain's Avatar
        propain -
        wow... that is gonna stir up some $#@! sticky. Nice work.
      1. bobsaggit's Avatar
        bobsaggit -
        Ah Simons trust fund must have ran out years ago if this is the jam they are in now.

        Oh well. I doubt they can negate any of these facts now.Click here to enlarge
      1. Yomama69's Avatar
        Yomama69 -
        1.6M in gross revenue in 2010 and 300K in debt with 250K in back orders in 1Q. Something tells me the books are cooked or there is some awful mismanagement going on at Evosport. Either way, what intelligent individual is going to invest money into this sinking ship?
      1. c32AMG-DTM's Avatar
        c32AMG-DTM -
        Click here to enlarge Originally Posted by Sticky Click here to enlarge
        Most of you saw that Benzboost broke the story last week on Evosport's debt and failure to deliver parts to customers. We quoted this debt as in the hundreds of thousands but now have exact up to date figures that were released by Evosport themselves. Where and why would they reveal these figures? They revealed the details in documents seeking investment from a select, hand picked group of customers in order to get money they need flowing in.

        Evosport has about $300,000 of debt with a quarter million of back orders that have not been fulfilled. They are cash strapped so they have hand picked a number of their customers to solicit for investment purposes. We have been able to get a hold of the proposal with all the details from more than one source. This investment group is being spearheaded by Jim Brady (James J. Brady of Ringler Associates) who is one of their customers. He is also a CLK63 Black Series owner and it is Black Series owners who are mostly being targeted for investment. Why Jim Brady is doing this for Evosport, we have no clue but will certainly try to find out.

        The investment documents are all detailed below. They verify that what was written previously is accurate. We now know the investment amount each customer is being asked to produce is $100k minimum. The documents are dated April 2011 so this information is as up to date as possible. Additionally, we do not know if Jim Brady has already invested as numerous sources have given us varying figures on his own commitment. It could be that he has already committed funds and that they have not been enough to pull Evosport out so other sources are being tapped.

        We feel this information is necessary to not only validate our reporting, much of which was already confirmed by customers coming forward to say they had not received their parts as well as JRCART confirming his issues with Evosport, but also to warn potential investors of what they are getting themselves into. It is irresponsible to continue to collect money from customers who expect delivery of their parts when there are very real issues that affect if Evosport will even continue to be viable. Not to mention that Brad Otoupalik e-mailed BenzBoost with veiled threats about "slander" which this isn't, it is completely factual based on details Evosport has verified in its own documents sent out into the public. Attempting to silence this on MBworld and threaten us only caused more people to be willing to come forward in support of what BenzBoost had the courage to reveal. We will not be pushed around or intimidated by Evosport or anyone else for that matter for providing the community with the truth MBworld hides from them.

        You can verify all the information in the documents below. You can also see the questionnaire that attempts to assess just how much money the potential investor has. Evosport's fiscal information is all detailed as well as debt and pending litigation involving a damage claim to a Lamborghini. We have also been told of liens which if it becomes necessary we will look into in much further detail. Evosport is apparently in damage control mode attempting to pay off what they can which we have not been able to verify but have received some anonymous tips stating so. Additionally, one tip stated that Bob Otoupolik's credit cards have been locked but we do not know if this is true. If anyone has any information to verify this tip, do not hesitate to contact us.

        Interesting update, thanks Sticky. FWIW, the accedited investor document is standard boiler-plate for such an offering. If interested:

        http://www.sec.gov/info/smallbus/qasbsec.htm

        http://www.sec.gov/answers/accred.htm
      1. blkclk550's Avatar
        blkclk550 -
        is every $#@!ing mod on MBW having PMS? every $#@!ing thread gets closed as soon as they see people getting in to arguments! it's a $#@!ing forum thats what it's made for! people voicing their opinions.
      1. PetroC63's Avatar
        PetroC63 -
        Wow!

        So, everything reported was pretty much 100% accurate?
      1. blkclk550's Avatar
        blkclk550 -
        UH OH! i got banned for the 10th time!
      1. Sonny's Avatar
        Sonny -
        The writing has been on the wall for those that have been doing business with them over the last 6 months or so. I remember questioning whether they were using deposits on orders for business cash flow back in January. I hope the customers who are waiting for their orders get their money or products.