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Per their website:

Status as of September 10th, 2006:

"Our vessel will be moving to La Paz During October, and we expect to make our first trip out of Magdalena Bay during the first week of November."


Does anyone know if any of that has actually happened, and if not what the current status is? Has anyone actually put money into this? If so, are they getting regular status reports and satisfactory explanations for the delays? Just curious.
 

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I think a few people have actually put money into this here. As usual, another promissed date to begin operations as come and passed with no word of anything actually happening. If you look at their website, they are trying to get people to invest in a few other schemes they have created. Most likely so they can get enough money to actually get the PTV vessel in operation. ( Isn't that called a ponzi scam?).
 

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Hmmm.

A "classic" Ponzi scam is to attract new investors in order to pay off dividends and/or loans to previous investors. I don't think that is happening here, as the "earlier" investors weren't promised a return either on their original investment or profits.

I don't know about Ponzi or any other scam. What I do know is that the pro forma always looked odd to me, the carrot of $100,000 blue fins seemed shaky (if it was that easy, every long range boat out of **** would have been doing it), and the lack of response or updating on the website is troubling.

I guess the way to have dealt with this would be to figure that the investment was no more or less solid than taking it to Vegas, and hoping for the best. I have no problem with people investing. I seem to recall that the promoters were actively looking for investments from Allcoasters, which kind of sucked.

Anyway, I'm guessing that the silence speaks volumes and that the ship has yet to make its maiden voyage.
 
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