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As investors, can we demand to see the accounting of where the money went?  I read over my contract recently, and it states that we were supposed to be given annual financials.  We never saw anything.  

$110 million is gone, this movie was not a $70 million dollar movie, but a $110 million dollar movie.

We used our 401k money to invest in this movie.  We were instructed to move it out of our acct into their financial institution - Equity Trust.  We moved $80k, just before the shares increased to $3 per share.  Almost overnight, our balance went from $80k to $240k.  So, how does this work now?  Now that the movie bombed, will our balance go down to $0?  The money is gone, so we can't pull it out, right?  Or, can we?  It still shows a $240k balance.  ???

I would call them immediately and tell them to roll that money to you immediately.  As long as you roll it into another retirement account within 60 days there is no penalty.    I would be shocked if the true value is $240K.   (It figures they are doing business with Equity Trust.  ET has a habit of investing IRA  money into real estate ventures subjecting people to Unrelated Business Income Tax.  Just about all other Trust companies take care of the filing of the Form 990 for their clients.  Not Equity Trust.  They demand their investors pay them tax prep fees to do what they should do for their clients, most of whom have no idea their IRA money is now making them pay a tax (if the UBIT is over $1K).  What is it about Alpine, Oz, et al?

You need to contact the Bridge Group, identify yourself and get the credentials which will allow you to see the financials they provide for Alpine.  Your head will explode.

The only way anything is going to happen is if enough people were to show up in lovely downtown Burbank and demand in unison an accounting.  They are counting on the investors not doing that.

What I am finding shocking if most of these posts are real is the amount of people who invested hundreds of thousands of dollars.  It's one thing if the individuals are multi-millionaires who can absorb the loss readily.  It's quite another to keep reading people drained retirement accounts and took out second mortgages or tapped a home equity LOC to invest.  I understand the arguments a movie was made and that all investments are risks. I get that.  That usually applies.  I would say it does not really apply with these people.  Was Greg, the Carroll Brothers, Neil K. and the other prime people truly aware that many of these people sunk their life savings into this and were not really people of means?  Do they have no sense of shame or any sense of humanity?

The valuation is nonsense. What the managed to do is create a false valuation that unfortunately shows you as earning a capitals gain in your 401K. You need to consult your accountant on the ramifications of this.

I guess you could argue that they were not qualified investors. How could a qualified investor so far beyond their means. A fireman, FIREMAN lost $450K. It breaks my heart. I mean you to talk to a guy about a risky investment and he shares that he is a fireman. Isn't there some ethical motive to at least put some perspective on what this man's income is? Wouldn't you beware that taking $450K out of his 401K, in this economy a form of a crime in and of itself. But the question is if you were the salesman what would you be thinking about it. A proud citizen that serves his country or cashing that commission check for $67,500. Well I think we know Greg's answer. and guess what he congratulated with a big smile too. Another question comes into play when commissions are paid, what becomes the motivation? The project or the commission. If it's such a great deal why not forfeit the 15% with the confidence that the successful movie will be enough reward. Can anyone answer me how long it would take the average 50 year old guy to save $450K. at 50 time is running out and the pasture is calling.

The management structure of an LLC is listed in its operating agreement and on the articles of organization. The operating agreement is similar to the bylaws of a corporation. It lists the names and functions of initial members or managers, voting procedures and meeting times. Members can change the management structure of its LLC according to the rules in the operating agreement. To complete the process, the members of an LLC must vote and approve the changes. After the voting process, an amendment to the articles of organization is filed with the secretary of state’s office.

First step: Vote out the managing members.

That's interesting about Equity Trust.  They do charge us an annual fee.  They charge us $240 annually.  Plus, they charge us a $50 late fee because they do not send a bill and I am expected to just remember when it's due.  What b.s.

The amount of denial in here is pretty bad. Im sorry. BUT YOU HAVE LOST EVERY DIME YOU PUT INTO THIS MOVIE AND THE FRANCHISE. It is worthless. GONE FOREVER. The quicker you get that thru your head and work with your advisor and spouse to determine your next financial steps the quicker you can move on and use it as a lesson.

I for one will never touch something else besides index funds again. Had I left my money in the stock funds since 2007 I sold to buy this worthless investment I would be happy as a clam right now. Thank god I didn't put more in than I did.

That said it wouldn't have been so bad if it just had flopped and that was that. Except it is quite clear that the producers and many that worked on this movie such as Neil, Greg, Bonne Radford, and the Carroll Brothers likely lined their pockets along the way.

Not releasing financials are a pretty big red flag. Not to mention they still likely have between 10 and 40 million left in the bank which should immediately be returned to the shareholders.

Hollywood is filled with the most unethical scum on the planet. Worse than Wall Street. They sat their with a smile on their face as they told relatively small time middle class people of the riches they could make because Shrek and Cars. All the while hiding behind the fine print and Safe Harbor statements.

These people belong on an "American Greed" profile on MSNBC.

I hope they are never ever able to swindle people out of hard earned money again.

Im so sad to see the story of the fireman, veterans and other good middle class family people that will likely now have to take out loans to put their children through college. I Hope Radford, the Carrol Brothers, Neil and Greg think about that next time they treat themselves to a fancy nightclub or another first class trip to Cannes.

Just spoke to Equity Trust…We can't get out of the annual fee ($240) unless DOZ devalues the shares to zero.  Until then, we are stuck paying.  We can not cash out, since there is no money there, just the value of the shares - $3 per share.  If we take the shares out, we have to pay 10% penalty, plus taxes on their current value - $3 per share.

Yes, if the movie did cost $70 million to make and they collected $110 million.  They should have $40 million left, give or take.  What if we, the investors, collectively paid for a lawyer to subpoena their financials and somehow require them to disburse anything remaining?  Are there any investors out there that have knowledge of the law with an opinion on this?  Even if they have to pay back Clarius, that still leaves about $10 million.  That is still about a 10% payback.  It's better than nothing.  I don't know, I'm just grasping at straws here.  This is so frustrating.

Keep emailing the [removed:lang] and tell them you demand answers as I have. That is all we can do. They are under no contract to return the money. They have a vested interest to hold the money and keep taking their "salary." I've already consulted an attorney. We are [removed:lang]. These sub humans live the high life in Hollywood after [removed:lang] us all.

I cringe when I see their emails now. I can't believe what a sucker I was. What a numbskull I was to believe all of this. But it would have been true if they made a good movie, not outsourced the animation to india. The movie sucked royally and everyone knows that.

The Carroll bros and company screwed us and there is absolutely nothing we can do about it.

Don't be so hard on yourself.  I doubt you thought this was going to make you rich beyond your dreams.  It was an investment to help you fund your retirement. There is nothing greedy about wanting to prepare for your future.  They did not work hard at anything other than getting novices such as us to invest in their organization.  The  real fault lies with them.  God don't like ugly, and they will be rewarded for what they have done.  That does not mean we just let it go.  Just have the perspective they are bad people and bad comes back to bad.  We all learned an expensive lesson, but we learned.

I hope The Carrolls, Neil, Marc, Greg, Bonne and the rest realize how bad many good people think they are.  I hope they remember this when they do stand before God one day.  The money will be dust.  It won't have been worth it.

So they are telling you you can cash out at $240k?  I am missing something.  IF they will allow you to take out $240K, do so, pronto.  Pay the $24K penalty.  You will still be ahead.

to read these posts.  I had the opportunity to invest in this but i passed because it just sounded too good to be true. At the same, I still had the nagging belief that it would do well and I would regret my decision.  Thankfully I don't have to regret that but still, it is absolutely wrenching to see good, honest people taken to the cleaners by people without a conscience.  I hope you are right - that one day, when these evil people stand before God, it won't have been worth it, but at the same time, when all the rest of you do, this will truly have been rendered meaningless and inconsequential.

No, we can NOT cash out.  We can take out the shares, meaning we get a piece of paper.  It made no sense to me either, but that's what he said.

before God?-- im sure they will stand before upset investor long before that time----i would not be comfortable in their shoes for one moment . think about it----now, thats the makings of a new book/movie--doncha think?