HRAC properties - how does this piece fit into the puzzle?

We should add to the list another question:

Who is the builder of the Holiday Inn Express and Suites at the corner of Hume and Pretty River Parkway in Collingwood that officially is a project of Dunn Capital Corporation, Larry Dunn's Corporation? 

Is the lender HMIC?  

Lots of investors are personal friends and acquaintances of Mr. Dunn and Mr. Dwyer - no one believed that HE management would not be operating in good faith.
Many investors are not nameless, faceless people - they socialized with the directors of HE for many years - they play golf at his club. They know his family.
That is why it has taken us five years to get to this point. Investors had confidence that Dunn and Co. would right the ship and protect our investments.
Now we are beginning to understand that this was not and is not the case.

Good Q, worried , I would take it a step further and also ask: Is the ownership of these projects hurting us?
Being their builder/vendor we are on the hook not only for expenses but also for the scary thing called LIABILITY
Remember HE explanation for selling an HRAC property (our property) from PEI, West Covehead to a numbered corporation owned by the HE Directors? 
According to HE the purpose of this transaction was to limit the LIABILITY of Investors. 

In fact this transaction did not solve the problem, i.e. if the numbered corp is owned by HRAC, and HRAC is owned by HMIC, so are its liabilities. The liabilities are coming back to HMIC.
Not only HE did not explain how this transaction limit our liability, but they did not disclose the costs and property selling price.
forexloonie , I agree with taking these concerns to the security regulator, with so many inconvenient truths piling up, it's time to lift the corporate veil.

With regard to the properties in total - what would be the most up-to-date listing of all properties currently held by HE? And are there other properties besides the Covehead property that have recently sold or even been listed for sale. And where did the proceeds from the Covehead sale go?
Anybody ??

Just to summarize HE response to these unsettling questions related to how the business of Georgian Bay Estates Limited, owned by Larry Dunn is mingled with HRAC: the ONLY explanation that HE provided to the investor who found this information is that HRAC’s Tarion registration fee “is shared with Georgian Bay Estates Limited with the purpose of saving the Shareholders' money”, but also all the checks are in place to ensure that the expenses & liability incurred by Georgian Bay Estates are not supported by HRAC, i.e. shareholders.

This explanation generated more serious questions: Why are HMIC Investors exposed to this complicated scheme that doesn’t seem legal under Tarion rules that requires a builder to be registered in its own name to be legit? How is the concept of “sharing” the enrollment fees implemented operationally, i.e. in books? How are these transactions recorded? 

An investor followed up with these questions addressed to the HE executives these questions were NEVER ANSWERED:

• Not only "sharing" the vendor registration fee, that is very little ($2,500 for a New Entrant builder/vendor and the annual renewal $500), does not justify the trouble of having to keep the accounting clean and an Indemnity Agreement between HRAC & an outside company, but it is also against the HRAC interests and outside its business purview 
  
• HE states that “All costs associated with the Tarion registration are paid pro rata by the companies sharing this Tarion registration.”. What other companies, besides Georgian Bay Estates, are “sharing” the Tarion registration with HRAC?   
• Georgian Bay Estates is not registered with Tarion as a builder, so we don’t see how is the concept of “sharing” the enrolment fees implemented operationally, i.e. in books? And again, the big question WHY is HRAC exposed to this complicated scheme? How is this beneficial for us, like investors? Why was not this disclosed to shareholders? 

Not only these unusual transactions were not disclosed to shareholders, but even after the questions have been asked HE executives did not send a communication to ALL shareholders with clarifications!

A rumor circulating around is that questions like these, qualified as insinuations, "have caused harm to all shareholders in HMIC".

Not very clear HOW? Here we go, another question for HE

Why don't they send a proper explanation to all investors?

More than 2 weeks ago, a fellow Investor sent the following questions to Larry Dunn and Tim Dwyer.
No answers have been provided so far:

"In the last HRAC sales activity report from March 13, 2020, the property “Covehead, PEI all lands” is reported as Sold for $ 110,521 at 79% loss when compared to $521,115 reported as NAV on June 30, 2019. This is a significant loss indeed.

On June 2, 2019 part of Covehead property was acquired from HMIC by “2680692 ON Ltd”, incorporated on Feb 12, 2019 by Tim Dwyer as sole Director according to the Corporate Certificate available in public records at Service ON.
At the time, you explained that such an unusual transaction was necessary to protect Shareholders interest, because the property has common roads which could result in HMIC having a liability to maintain.

Despite your explanation my concern remained that the liability cannot be transferred from HMIC to the numbered corporation as long as HMIC is the only owner of this corporation, as a result responsible for its liabilities.

Now that the property is sold, please explain:
1. After 2680692 sold the land acquired from HMIC, what entity has the liability of common roads?
2. Please, provide financial details for the following transactions: land transfer from HMIC to 2680692, selling price, selling proceeds transferred from 2680692 to HMIC
3. What happens now with 2680692 ON Ltd? (you referred to this corporation as “single use numbered company”)

Thank you for your time"