818-909-6800

I'm just curious...has anyone rec'd their K-1's?  I assume that I'm not the only one, (lost in the mail?) but I wanted to check.  My taxes are all done, but I'm just waiting on the k1's.  I've sent The Bridgegroup an email about them, but haven't rec'd a response.  No surprise there.  They never make a difference on our taxes anyway, so I'm thinking of just sending in my taxes without the k1.  Thoughts?

K-1's are supposed to go out for US Partnerships by the end of Feb as I recall, so I think it is overdue.  You best call the companies that you are expect to send you a K-1.

I don't think you should send out a 2015 return without a K-1.   If you have filed before and provided K-1 info, NOT having it might be setting you up for a lot of back-forth questions form the IRS or the State.   It might even take up to a year or more before the IRS starts asking, and by then, getting a K-1 can be a real pain.

Please double check with your accountant.  My thoughts are based on experience or call the IRS.

I called the Bridge group. They were not able to tell me when they would be ready. Suprise right?  Not sure what to do now

Thank you B-Edwards and Db for your quick responses.  Every year I have to wait for the K1 from this stupid movie investment.  Losing money in the investment was bad enough, but I am reminded of it every year at tax time.   It's so frustrating!

I have another question since this is my first investment of this sort.  Will there come a time when I no longer have to wait for the K1?  Will that happen if/when they declare the stock worthless?

My info is really VERY general, and based on personal experience only.  As I recall, you are required to file a K-1 if you are in a partnership or limited partnership, but you do want to check with an accountant to be certain.  I do NOT know if loses you might suffer can be used in any way to you advantage on your return.  I also know that some partnerships can be bad about sending out a K-1.  I have had to push a few times.

From the IRS website:  https://www.irs.gov/uac/About-Schedule-K1-Form-1065
- From the IRS Site: The partnership files a copy of this schedule with the IRS to report your share of the partnership's income, deductions, credits, etc.

My 2 cents?  I am not a fan of partnerships as an investment for part of a retirement portfolio.  Partnerships are sophisticated deals, and tend to be higher risk.  I would never do a "buy and hold" strategy with a partnership investment, especially a real estate partnership.  Too risky for me.  A deal like that needs a close eye.

See below, there is a link there to the IRS website.  You need some solid advice on this.  I thought there was a Due By date for the K-1, so you need to find that out.  If Bridge Group is missing a mandated deadline, that don't sound good to me.  If you do not have an accountant, you will want to call the IRS and tell them what you just posted.

I suppose you should be OK to file an amended return if a K-1 is late - this is not all that uncommon - but the very idea makes a lot of people nervous.  But again, ask the IRS about amended returns in this case, and find out what documents Bridge should be issuing, and by when you are supposed to have them.  If Bridge is not doing the job, and not following the IRS regs, you need to get back to IRS and ask what to do and how to protect yourself.

Don't know how you ended up in a partnership.  Someone must have brought this to you, it is not a deal you sign up for with a bank teller or on line.  Tell that person what is happening as well.  I don't know anything about Bridge Group at all.  Someone sold this idea to you, and you should have been told about the risks.  This is not an item for the average person, even if you have some experience with mutual funds, stocks, etc.

Not sure when we will receive K1's ,but if you are an investor you should be getting some communication emails once or twice a year from the Bridge Group and/or Summertime . But based on the last reports sent around, I am wondering if they have the money to have an accounting firm do the 2015 tax returns and issue K1's. My suggestion would be to call up the accounting firm that did them last year and ask them directly.

As far as when this can officially be written off , in compliance with IRS regulations, I would think that this will be the deciding year. There is plenty of publically available info on the plan that they are trying to implement, but it requires them raising more funds. But if they can't issue K1's for the year 2015, I'm not sure what that does as far as valuation of our shares but I would hope we have a decision in 2016 one way or another so that anyone owning this in an IRA doesn't have to deal with the annual fee anymore. And if it is held in a taxable account, to write it off , there needs to be certain tests made to have it declared worthless.

Steven Previch---813-382-3569------For questions about K-1 's

Thanks - I'm assuming you've called him, did he give any indications on the timing of K1's?

I am pretty sure that a defines percentage ( between 1% & 3%) was to be reserved to cover the costs of K1's. The LLC should use the reserved money to pay all of the fees to generate K1's. I guess that this would be in the $20,000 range considering the absurd number of investors. There should be K1's for Dorothy & Emerald sent out separately.  I believe that each K1 should indicate a lower valuation. It can take between 5-10 years before the LLC can be legally closed. This creates a HUGE burden on those with holdings in a trust company. That IRA is physically worthless to you, the investor, but for financial purposes, it has a valuation based on an accounting matrix. I would contact the IRS about these holdings, file a complaint on the late K1's, and figure out why in the hell The Bridge Group is so useless in providing essential information. This could cause a delay in filing, and therefore, an extension needs to be filed. That's a hassle. If you are getting money back, this delays that return. I fully agree that the only thing worse than a bad investment is being reminded of it every year and losing more money because of fees and hassles. I am also concerned that this is yet another indicator of mismanagement and a huge question about use of funds. The LLC should have used caution in dispersing funds to Summertime. It didn't the manager had a fiduciary responsibility to the members.  Just my two cents of thought.

I googled Steven Previch. I saw this excerpt in an article:
"Inspirational Vision Media Inc. (IVM) is a newly formed Nevada C corporation whose purpose is to bring together in a J/V StereoVision, Alpine Pictures, Dorothy of Oz LLC and the Emerald City of Oz LLC under the umbrella of the publicly traded company, Inspirational Vision Media Inc. This includes the "Legends of Oz - Dorothy Returns" 3D animated feature film from the ten book "Legends if Oz" series by leading children's author Roger Baum. Roger Baum is the direct descendent of "Wizard of Oz" author L. Frank Baum. The IVM-SVE J/V will continue to exploit the "Legends of Oz" franchise while developing in-house funding, production, and distributions capabilities for all IVM, SVE, and client intellectual properties." (http://www.marketwired.com/press-release/insp ... vsn-2105530.htm)

My question is WHY is this "company" attempting a J/V with Alpine Pictures, Dorothy of Oz and Emerald City of Oz? Why is Summertime not listed?  It doesn't seem like Alpine would have any value. The Oz crap was heavily panned by the media and lost over $100M, and may very well be encumbered with debt. Where is the value in this? Is this shell company just plying the investor pool for funds? I just don't get it. Why would anyone want to invest in a company that puts forth effort and money to J/V with a worthless entity? Also, why are there no statements from Neil Kaufman or Jeff Urdank? Or from the Carroll Brothers or Centineo?
Why is all of this being told by IVM and information slid out by The Bridge Group, which oddly is unable actually to answer any questions when and if you ca n reach someone there?

I did not think this could get any sleazier. I hope that somehow someone reads this thread and backs out of putting another red cent into this. I get this best guy to rip off is the guy that fell for the scam already. Dupe the duped.

BTW: does anyone know what the Carroll Brothers, Neil Kaufman or Greg Centineo are up to? When they were raising money and live it big, I heard a lot. Now nothing. AND I MEAN NOTHING.

I hope you are right about the reserve funds for the K1's but I do recall a message somewhere that I believe indicated that part of the funds they were looking to raise were going to be used for the K1 tax prep fee. Maybe I am wrong on this point but if they had the money, I would have thought they would have banged the K1's out already. I did see a message last week that they are working on preparing the K1's so maybe we will be ok on that front.

As far as the LLC's taking 5-10 years to legally close, that may be the case , I don't know. But for those who hold this in an IRA and are worried about paying yearly fees , you can withdrawal your shares from the IRA and stop the annual fee payment. You would have taxable income based on the reported value of the investment , which is reported by the company to the IRA custodial. It's not done by an accounting matrix , but by a third party valuation supplied to the trustee. The valuation to the trustee for 12/31/15 is still not done as far as I know but is should be less than a penny per share, if not zero. In my opinion, there is no way any reputable valuation firm can come to any other valuation based on the assets (negative) or the proposed plans.

Yes I believe that I did see that "they" are raising funds to pay for the Ki's, but I am still curious why they don't have funds in reserve. I am guessing those "reserve" funds went into someone's pocket. Just another indication of misused funds.
I am fairly certain that a valuation cannot just arbitrary and that there must be a formula the accounting company uses to determine valuation. I did find this website: http://www.thebreusgroup.com/one-of-a-kind/ .  I just don't understand why this is so messy. Was the goal ever to make a profitable film or just to raise money. Seems  they do pretty well rasing money and taking fees for making movies that don't sell. I would feel that reputable company would have prepared an exit strategy. I still feel that there are just too many unanswered questions.

For those of you who didn't receive this email, there will be no K-1s coming. See the email below

Dear Dorothy of Oz LLC (DOZ) and Emerald City of Oz LLC (ECOZ) Members,
Since adjusting our strategy regarding the Oz Project and notifying everyone concerned last week by email and press release, the IVM team has received a number of calls from the DOZ and ECOZ members as to the status of the J/V going forward.  Again, as stated in last week’s email and press release, due to unforeseeable events and elements out of our control, the IVM and SVE management teams decided it is in the best interests of the IVM and SVE shareholders to instead of IVM acquiring the DOZ and ECOZ LLC’s outright, we will look to work with individual DOZ and ECOZ accredited investor members regarding their interest in participating in IVM’s forward looking plan.

Attached to this email is our SEC attorney approved outline of the offer to the DOZ and ECOZ accredited investor members, sent to everyone last week, regarding their opportunity to participate in IVM’s future. If you are interested in participating please contact either Steve or Herky and we’ll make every effort to accommodate you.

Please understand neither IVM nor SVE has, or has ever had, any authority over either the DOZ or ECOZ LLC’s. Therefore, IVM and SVE are not responsible or obligated to provide any services or pay any debts, such as the K-1’s, for the DOZ or ECOZ LLC’s. The DOZ and ECOZ LLC members are going to have to get together and come to some determination as to how to proceed from here. As a soon to be DOZ and ECOZ LLC member, IVM is willing to coordinate this effort. We sincerely believe the Dorothy of Oz film deserves a chance at receiving the fair market recognition it deserves and we will continue to work to try and find a way to bring that to fruition.

Safe Harbor Statement: Except for historical information, this document may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1933 as amended. It is recommended that you consult your attorney or financial advisor before making any investment decisions.

Dorothy of Oz LLC (DOZ) and Emerald City of Oz LLC (ECOZ) Members Be Advised:
The Inspirational Vision Media (IVM) management team has worked diligently with the StereoVision (SVE) management team to bring together the “Legends of Oz” group of companies in our effort to revitalize the franchise. When we began this undertaking both the DOZ and ECOZ LLC’s where late in their filings and suspended from doing business by their respective Secretaries of State. At some substantial expense of time and money to IVM and SVE, both LLC’s are now reinstated and active.
In our working on DOZ, ECOZ, Alpine Pictures (AP) and Star Guardian (SG), we have found elements in all four companies that have led us to believe it is in the best interests of the SVE and IVM shareholders that we adjust our strategy.

IVM has completed agreements with AP and SG to acquire all of their assets including the rights to Roger Baum’s “Legends of Oz” nine book series. IVM did not acquire either of these two companies, just their assets.

SVE has committed a convertible debenture of six million of its publicly traded one year hold restricted shares, (OTC:SVSN) at $.05 per share to raise the $300k to take IVM public. Similar to IVM’s deal with AP and SG, IVM will not be acquiring the DOZ and ECOZ LLC’s.
IVM will though be offering individuals owning DOZ and ECOZ membership interests that participate in SVE’s $300k debenture, a buyout of their DOZ or ECOZ membership interests with pro rata shares of IVM. This offer is for pre-qualified accredited investors only.
This first round of financing is structured as follow; for $25k or 10% of your DOZ or ECOZ investment, whichever is less, invested in SVE’s $300k debenture which is convertible at $.05, you will receive the option to convert your DOZ or ECOZ membership interests into IVM stock pro rata to the 33,000,000 shares offered.
Example, with $120mil being the total invested in the movie “Dorothy Returns” through the DOZ and ECOZ LLC’s, if you invested $1.2mil you were to have received 330,000 IVM shares for your DOZ or ECOZ membership interests.
 Under the adjusted plan, if you invested $1.2mil in ECOZ or DOZ, and if you contribute $25,000 to the $300k SVE convertible debenture, you will have the option to convert your $25k debenture to 500,000 SVE publicly traded one year hold shares (OTC:SVSN) and IVM will give you a three year option to sell your DOZ or ECOZ membership interests to IVM for the same pro rata 330k IVM shares. If you invested $50k and you contribute 10% ($5,000) to the SVE’s$300k debenture you will have the option to convert your $5k SVE debenture to 100,000 shares of SVE’s publicly traded one year hold restricted stock (OTC:SVSN), and receive a three year option to sell your DOZ or ECOZ membership interests for the pro rata amount of IVM shares. This is a first come first serve offer. It could be completed or withdrawn at any time without prior notice. Please contact Steve Previch or Herky Williams with any questions or comments you may have.  Thanks.

Updated contact info:
Steve Previch  IVM CEO  email: steve@ivmi.biz   702-772-6889
Herky Williams IVM CCO email: herky@ivmi.biz  702 337 4326

I got this email, as well as the periodic emails from The Bridge Group.  The Bridge Group sounded like they had some things in the works.  They were suing Clarion, they were working on negotiating a tv series deal, etc.  I was certainly skeptical, but at least it was something.  According to this email, Bridge Group, DOZ and ECOZ llc's are completely gone now?  And, unless we want to pay IVM more money, we don't even have shares in their stock?  Is that right?  Can they do that?  Can they acquire the rights to the franchise and not pay the investors in the franchise anything?  If so, how did they do that?  Money must have been exchanged.  Don't we all own a part of the franchise that we just lost?  I appreciate any clarification that anyone can offer.

Interesting.  Were there really people who invested as much as $1.2M?  Gulp.

I suppose it will be just a matter of time before these people start calling others to raise money.  Hopefully there is enough information here to alert unsuspecting individuals, if they think to research and Google.  Here's hoping.

This is just amazing. Is it humanly possible to create a more murky deal than this? I'd like to know who is paying for The Bridge Group? How did they get so involved? Shouldn't information be coming from Neil Kaufman and Jeff Urdank? As far as I know, these are the managing members. Michael Douglas has nothing to do with this at all. Legal action against Clarion requires the retention of a legal team. Who is paying the billable hours for that? Who is negotiating a TV series, and WHO is going to finance that?  For the life of me, I can figure out this IVM / SVE deal.  What is the valuation of .05 based on? It appears to me, and please correct me if I am wrong, is that they are just squeezing the investor ( sucker) lists for more money. I can see no value in any of this.
Isn't there some legal responsibility to properly conduct business. The money "reserved" was to pay for K1's. It clearly states in the PPM's that a percentage of funds raised was t be reserved for legal & accounting. That money is apparently gone. Mismanaged, pocketed, shifted to other accounts or spent on holidays.
It is pretty shocking that people can get away with stuff like this.

So NOW, thousands of investors, maybe tens of thousands of investors are trying to figure out how to file the taxes, and they are all stuck with this nonsense. How much are the FEES for the empty IRA accounts?
Has any received a letter of apology from Ryan Carroll, Roland Carroll, Rene Torres, Bonne Radford, Greg Centineo, Neil Kaufman or Jeff Urdank?

Does anyone know how we petition or who we petition for a list of investors to contact? Apparently they don't mind selling that information off to other entities like IVM / SVE.
Does anyone have any suggestions on how to get the attention of some reporters? There was interest at one time.
I find it a bit tragic that with all this blatant information available, not a single legal entity has taken notice.
These guys should all be jailed. It is racketeering. RICO ACT. Mail fraud, embezzlement co-mingling of funds
I am contacting The HOLLYWOOD REPORTER, VARIETY, JUST JARED, The Wrap.com, Rip Off Report, Facebook, Linked-In and every state I can,
No, it's not about getting a dime back it is the principle of the matter.

These people should not be allowed to walk the streets with other people's money jingling in their pockets.

I hope a few of you join in my efforts.

These guys at  IVM SVE are

If Ryan Carroll and his cronies aren't filing K1 s. Can't the government, IRS fine them? How are we going to file our taxes?  I thought when we invested, we were buying into all the books, intellectual property, ect. How can they transfer our rights without our consent? This has to be illegal, what can we do to stop this from hurting any more people?

I am another stupid investor in this movie.  I just want to share some information that I received a few days ago.  I got a phone call from Herzy Williams with IVM.  He wanted to answer any questions that I might have regarding this whole mess.  Since not that many people saw the movie, he and his company felt there was still some value in the movie. So, he wanted to re-release the movie under a different name and make some changes and possibly get the franchise started again.  But, after delving Into the doz LLC, here are some things he found out...1) we, as investors, do not have any rights to the franchise, only the movie.  According to him, the Doz LLC needed to file some paperwork amounting to $6 million to give the investors rights to anything other than the movie.  They never did this, so we as investors, never had rights to anything other than the movie itself.  So, he can buy the rights to everything related to DoZ, except the movie, since we have the rights to that.  2) he can not acquire the rights to the movie because there is a $20 million lien against the movie.  As well as, unpaid legal fees against Clarius, and $78,000 owed the accountant for the k-1's.  The Doz LLC no longer exists, so we, as investors, are in a bus with no driver. The LLC can't pay their legal team or the accountant, so they've abandoned ship.  3) one of the Carroll brothers is in jail the other one is in hiding.

If anyone would like more clarification, his number is (702) 337-4326.  if anyone knows anything else, or if you believe this info is incorrect, please post a comment.  This is, as I understand it, according to Herzy Williams with IVM.

Since we only have the rights for the movie, and not the franchise as we were told, I wonder if we now can look into a class action suit.  Any ideas