Benchmark Financial Groups sent us a lease agreement for an 8" printing press that NanoPrint Technologies signed and then sent a check for $7,000, for the first and last month's lease payments. However, Benchmark never signed the agreement or forwarded any funds for this lease, but tried to structure it a different way and get more unrelated collateral to cover the lease. They already had a Corporate guarantee and Personal guarantees from the two main owners of NanoPrint Techniologies, who combined, own more than 70% of the company. Then after about 45 days of them dragging out the process, supposedly looking for ways to make the deal work for them, we finally requested our funds back and Vanessa Stewart filled out the paperwork and told me it had been processed and that there would be some minimal fees netted out for administration purposes which we thought would be the documentation fees of $125 as mentioned in the lease agreement.
When we finally got a check they had backed out approximately $4,200 for underwriting fees as reflected in an attached letter addressing these deductions.
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