- Report: #1159994
Complaint Review: worldwidecapitalmergers.com - Nationwide
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worldwidecapitalmergers.com
Nationwide, USA
Phone:
18666034142
Web:
www.worldwidecapitalmergers.com/
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worldwidecapitalmergers.com Mike Ryan Mike Ryan-http://worldwidecapitalmergers.com/ chicago Nationwide
Dear Customers,
Please do not deal with Mike Ryan owner of worldwidecapitalmergers.com
Here is how they work,person or company looking for funding for new business or venture they start to ask for tyour business plan and they say if u dont have one they write you executive summary that is $5000 - 10000 that is free if you send them and sign up and they ask you for engagement fee to start the work .After recieving all money you get call from Mike Ryan and he will introduce as the CEO of company Worldwidecapitalmergers and will say tell me about your project and later after 3-4 days you recieve a call saying your project is approved and viable to funding from banks and you will get money funded for your project in 90 days.When u call after 90 days you will never see the evidence or letter or a termsheet issued by bank or investors .At the end no results.
I will update more,I got all wire transfers from my bank as proof.
this is to confirm your contact with WCM LLC regarding a potential collaborative projected to raise 45MM USD in capital for the purpose of acquiring a hostpital in Baroda India. Your 5 page business plan has been received and is at this considered to be the Executive Summary. I've already spoken with my main office in Chicago, IL and you are on the Monday morning agenda, but I still need to talk with you further to clarify some details.
For your information I would like to let you know that we are a 22 year old investment banking firm specializing in M&A and venture capital funding for your health care industry and we do this globally. The success of such projects is fully contingent upon completing several phases of due dilligence and having full communication, cooperation and coordination at all times as things slow or completely stop IF documents, data or information is needed, but then not provided or available. Please go to the Worldwide Capital & Mergers website and review the "Our Process" blue tab at the top of the page.
After the Monday team meeting we will most likely be requesting your full complete and up to date Business Plan (BP) and we provide a "reverse" Non-Disclosure Agreement upon receipt. If you have any questions about this please email or call me. After the BP is submitted and reviewed we "firm up" a proposal internally based on our team consensus to take your project.
Next, we may then request a conference call with you and your own executive team if necessary and for purposes of further details and clarification on the acquisition as needed so that we can in the future be "mutually clear" as to how we will proceed and what is required. The due dilligence process simply validates and confirms information that is normal protocol for any large project funding.
I am your point of contact Dr. Rajesh during the course of your project. If we "engage" with you to fund the project I am to advise and assist you in understanding anything tat is not clear. Once I feel you and I have reached a consensus on the terms of our engagement then I will prepare a MOU (Memorandum of Understanding) that outline the terms we have verbally formed a consensus on that will both meet your needs to complete your project and meet our investor requirements. You will then sign the MOU, scan the signature page and email it back for our file. We then prepare the Advisory Agreement (AA) which is a "boiler plate" legal document that binds our terms and business relationship based on the MOU details.
Once these documents are completed, we ask you please consider our relationship "exclusive" as this type of funding for a hospital is a "small world" with specific relationships that we bring to pull together a variety of "groups" so as to aggregate 45MM USD. Please think of WCM as the same as an "Investor Relations" internal group of a large coproration that represents the corporation to investors in cycles and pulls funding from a variety of sources. WCM does the same in what is in effect and "outsourced" IR function for your executives and corporations to make this acquisition. We can discuss this further on the phone if you wish.
Our fees are of 3 types only and there are no hidden fees or suprise "add on" fees.
1. Engagement Fee is linked to the AA and is determined after review of your ES and BP and is set by the team once we determin how we need to proceed. The fee itself is not negotiable, but the payment terms are negotiable. If needed, we can discuss this also by phone or even SKYPE if you wish and we are close to beginning. This fee basically is partially covering the development of your IR Package or the same as a Prospectus in a large IR group, but at highly discounted rates as we "back load" our earnings on the Performance Fee.
2. Performance Fee: this fee, for your size deal will be most likely a flat fee on the gross funding of 45MM USD (adusted based on further discussion and ES/BP review). We want to make sure you have your full fundig needed and are not in danger of under funding as it is not efficient to come back and do this twice. We therefore do an current valuation of the hospital as it sits toda and then a post funding valution, which is to include real property, all assets and business cash flows as key to the future value. This is included in your Engagement Fee and the process confirms 45MM USD or equivalent/adjusted amounts. We use a "Modified Lehman's Forumula" for smaller projects, but already in your case this will most likely be a set percentage, around 5% of the gross funding amount and is held out from the 45MM USD. Your ES has 35MM, but you mentioned 45MM previously, so this to will need confirmed please.
3. Travel Expenses: there may or may not be a need for this fee and we do not "mark up" this fee, you can even arrange hotel and air fare for a representative, when the time comes, to inspect the acquisition and meet with your executives, who will confirm all is in order. This sometimes is a WCM Vice President or it an be the "lead" investor. We try NOT to charge these fees, but to plan for the contingency, you should consider travel costs for about 3 days stay including air fare, hotel and meals. Again, it's early in our relationship, we must determine how this plays out and will know more as we collaborate and progress.
I see your office is in Canada and so feel free to call me or skype if you have any questions. I would like to talk with you at least once prior to Monday meeting with my team to get initial approval to take this project. I'm in my office all day today, Friday. Not available Saturday or Sunday. My Monday meeting is early morning and so we should speak today.
Cordially
Cordially
