No Payment to Appraisers

By | April 13, 2019

Last week VaCAP shared information on Clarocity Corporation and how the main investor StableView Assets was seizing the shares and foreclosing on the working assets, which includes Clarocity Valuation Services.  StableView in turn had an agreement to sell Clarocity Valuation Services to I Look About. We warned to proceed with caution or do not proceed at all.   We described the situation as a “soap opera.”  We continue to monitor them and have learned many things. We debated on sharing this information with everyone, however we feel obligated to keep our members informed.

First of concern is the name Clarocity is no longer being used. It has been changed back to Zaio. This in itself raises a huge red flag as Zaio simply does not have a positive reputation among appraisers.  Much is also learned by the investor comments on the Bullboard.  Investors, who are also getting the short end of the stick, have uncovered some pretty concerning information and one investor has come right out and stated:

“What we have here is a significant MORAL HAZARD facing the CEO and Control Person.  The presser clearly states that Stableview plans to seize the assets but leave behind the $7.53M in debt AND OTHER ACCOUNTS PAYABLE.  Which translates into Colin screwing over every outstanding appraiser payment for which work has already been completed.  I DONT KNOW HOW A SINGLE APPRAISER COULD ACCEPT AN ORDER FROM CLAROCITY WITH SUCH NOTIFICATION!”

There really is nothing else we can say. See the entire comment and others on the Stockhouse Bullboard  here.

 

 

Thank You for being part of VaCAP!

 

 

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