Pond Inlet Housing Association

In response to the complaint filed by *** *** of EcoSoulLife US, we suspended services due to possible accounting fraud We were hired by EcoSoulLife (ESL) to find an investor for equity financing October **, During our routine due-dilligence process we discovered that a
current equity partner had made no capital contribution and when we queried the CEO JR M*** and the VP of operations we were told that they had indeed made an investment, however, it was in a previous, now defunct, business that has no affiliation with current ownership *** *** and *** *** then suggested we move the numbers from the previous investment into the current books in an effort to justify the equity ownership At this point we instructed *** *** and *** *** to unwind the equity partner who had no investment in order to move forward in a legitimate manner ESL's refusal to adhere to our advice and insistence on "cooking the books" led us to suspend further work Following legal counsel we decided not to release the valuation or any documents associated with our name for fear of fraudulent practices by ESL We strongly urge any potential investor in EcoSoulLife US to proceed with extreme caution and order a forensic accounting

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID# ***, and have determined that my complaint has NOT been resolved because:
The detail provided by *** *** is not correct There was never a suggestion to "cook the books" from our side at all If you read the email chain that Mr M*** attached, my suggestion to Mr M*** was to address his question regarding the AU contribution directly with the AU team because I was not informed enough on their summary of expenses to answer questions regarding the validity of the expense or how it applied to the US market Mr M*** had at this time ceased communications and would not do the due diligence to have his questions answered by the Australian team The investment made by the Australian team, current or historic, was all related to EcoSouLife and its intent to expand the business, the only thing in question at all was if the itemized expenses were directly related to the expansion into the US market specifically There has never been a time that Mr M*** informed us in writing or otherwise that he had been advised not to proceed with the evaluation set forth in the agreement, the communication just ceased If *** *** has decided not to deliver the items laid out in the agreement we merely request that he return the money paid for these services and we will happily consider the contract to be null and void There was never any suggestion of fraud at all from him or his council, we had not even fully quantified the financial contribution from the Australian team so it would be impossible to state that they had not contributed a sufficient amount to justify their share or to state that their creation of the brand and all of the products alone did not justify their ownership percentage We are just looking for him to either fulfill the agreement as is stands or to return the funds paid to him because he is unable to provide the services that he has contractually agreed to
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Sincerely,
*** ***