CinD
06-09-2006, 12:41 PM
Just saw the following post on AFR and was very surprised and disappointed. Anyone else hear anything about this?
{hugs} c :tantrum:
Dear Participants and Friends,
It is with great sadness that we write this letter to all of you who
have worked so hard to help us make the Greater Pittsburgh
Renaissance Festival Village. After many months of trying to find
financing and funding for the 2006 Festival season, we ran out of
options and money on June 1, 2006.
As a consequence, we are unable to open the Festival this year, nor
will it be operated by us in the future. The Festival is for sale
and if purchased by someone interested in this type of venue, there
may be opportunities in the future, but that will be up to whomever
purchases it. You will be notified of any sale.
We have explored private lending institutions and investors, grants,
stock offerings, and have met with local and state economic
development agencies, all to no avail. We were even told by one such
agency representative that, "perhaps this area doesn't want a
Renaissance Festival."
Many of you have offered to help us with loans and had questions
about investing in the Festival itself. Unfortunately, the
Securities and Exchange Commission has many rules and regulations
that would prohibit us from issuing more shares of stocks without a
major expense that we could not afford to take on. This process
takes many months – even up to a year and costs thousands of
dollars. We can not ethically take your money as loans knowing that
we might not be able to pay you back, nor are we willing to take on
the additional liability of legal action by anyone who had invested
without the corporation going through the proper channels for
investments. We know how hard all of you work for your money, and we
are unwilling to allow you to put yourself at a further financial
risk by lending money to something that has yet to become profitable
nor has a payback date for your loans.
Over the years our collective passion has been to put on the best
Renaissance Festival possible. We feel that through your efforts and
ours that we were able to accomplish just that. Sadly, this area was
not supportive of those efforts.
Thank you all for your willingness to help, your years of effort, and
your kindness. We will miss you.
Sincerely,
David M. Pearson
Mary N. Mann
Jim Paradise
Greater Pittsburgh Renaissance Festi
{hugs} c :tantrum:
Dear Participants and Friends,
It is with great sadness that we write this letter to all of you who
have worked so hard to help us make the Greater Pittsburgh
Renaissance Festival Village. After many months of trying to find
financing and funding for the 2006 Festival season, we ran out of
options and money on June 1, 2006.
As a consequence, we are unable to open the Festival this year, nor
will it be operated by us in the future. The Festival is for sale
and if purchased by someone interested in this type of venue, there
may be opportunities in the future, but that will be up to whomever
purchases it. You will be notified of any sale.
We have explored private lending institutions and investors, grants,
stock offerings, and have met with local and state economic
development agencies, all to no avail. We were even told by one such
agency representative that, "perhaps this area doesn't want a
Renaissance Festival."
Many of you have offered to help us with loans and had questions
about investing in the Festival itself. Unfortunately, the
Securities and Exchange Commission has many rules and regulations
that would prohibit us from issuing more shares of stocks without a
major expense that we could not afford to take on. This process
takes many months – even up to a year and costs thousands of
dollars. We can not ethically take your money as loans knowing that
we might not be able to pay you back, nor are we willing to take on
the additional liability of legal action by anyone who had invested
without the corporation going through the proper channels for
investments. We know how hard all of you work for your money, and we
are unwilling to allow you to put yourself at a further financial
risk by lending money to something that has yet to become profitable
nor has a payback date for your loans.
Over the years our collective passion has been to put on the best
Renaissance Festival possible. We feel that through your efforts and
ours that we were able to accomplish just that. Sadly, this area was
not supportive of those efforts.
Thank you all for your willingness to help, your years of effort, and
your kindness. We will miss you.
Sincerely,
David M. Pearson
Mary N. Mann
Jim Paradise
Greater Pittsburgh Renaissance Festi