I recently did a shoot with the owner of Audacity Brew House here in Denton. Produce Results, a local advertising agency hired me for banner ad they were going to run in Total Wine. Doug is a great guy and if you get a chance, go check out Audacity. They craft over 20 local Texas beers and it's a great atmosphere!
1 Comments
Dec 5, 2017, 11:28:04 AM
Henry - Doug Smith is not someone you want to do business with. He lost every bit of capital that his investors trusted him with. Here's the e-mail he sent to them: 12/4/17
Dear Investors:
We have sold off all of our major assets, most of which shipped out on November 28th. The payments for this equipment are currently in the bank. We have started paying off debts. We have enough money to pay off all secured debts and taxes, we do not have enough money to payoff all of our unsecured debt and will not have anything to return to investor’s. I have hired a lawyer to help me with the process of paying off our debts in the correct order and in closing the business. We are in the process of cleaning and emptying the building; we officially turn over the building on December 15th. Investors can expect a final K-1 in the spring.
Sincerely,
Doug Smith