I received a fax stating that this company was buying business in our industry, I answered the fax and Dennis Punzalan came out on June 15 to gather information from us to see if our company qualified to be listed with Alliance Acquisitions. The major part of qualifing with Alliance was to have a large accounting firm do an evaluation of the books. The cost of this was $4000.00 We made sure Alliance had all the tax information they needed to get a valuation on our business. While Dennis was here we signed a contract that Alliance would find and qualify at least one buyer. If not the $4000.00 would be refunded.
On June 20 we were notified that we were accepted to be listed and we waited for a buyer to be qualified and call.in the past year I called the headquarters in GA a number of times to see when they would be sending us a name of a buyer, their answer was they were working on it. It has been a year since we listed the business and have not received one name of a potential buyer.
I faxed in a request for a refund and received a letter from Marvin (Randy) Hicks stating that Alliance believes that it has met the obligations. If I do not agree with this I am suppose to get a hold of an Arbitration Association for apppropritate forms. We were promised a refund and we expect to get one.
When we met with Dennis Punsalan he wanted to make sure we were interested in selling our business and the fax that we first received has in large letters we Guarantee a Qualified Buyer for you Business.
I am in the process of notifing our State Attorney General about this rip off.
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