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4- The Oakville Beaver, Wednesday January 17, 2007 www.oakvillebeaver.com Investors still hope to recoup some of their losses Continued from page 1 Making the arrest was Det. Jeff Thomson of the fraud squad, who has fielded calls from at least a half-dozen more investors alleging they too lost money. The detective alleges this is a case of "affinity fraud," perpetrated by someone who uses "a known group, like a religion, or family, or people that trust you. "One investor is out $2.2 million," Thomson added. Police allege that between September 2005 and May 2006, investors bought shares in his company, Emexis Integrated Solutions Inc., at 50 cents each, with the option to purchase an equal number of shares at 75 cents. Spencer had promised to take this company public, but then changed his mind. To compensate them, the former Queen's University student promised to buy back all their shares for $1 apiece. Spencer, who has appeared at conferences as a motivational speaker, was living with his parents in a $1.7 million home the trio purchased last year, Living Healthy A series of FREE public education seminars presented by Weedless Wednesday: "Why Stop Here?" 2007 ­ the year to quit smoking! Wednesday, January 24, 2007 y, y, 6:30 pm Displays and Refreshments 7:00 pm Presentation by: Dr. Gail Macpherson, Family Physician Oakville-Trafalgar Memorial Hospital g p 327 Reynolds Street FOR MORE INFORMATION AND TO RESERVE YOUR SEAT TODAY CALL 905-338-4379 Presented in partnership with: Canadian Cancer Society Smokers' Helpline www.smokershelpline.ca Canadian Cancer Society www.cancer.ca Centre for Addiction and Mental Health www.camh.net Halton Council on Smoking or Health ww.choices4health.org Heart and Stroke Foundation of Ontario www.heartandstroke.ca The Lung Association www.on.lung.ca Suppor ted by educational grants by smoking cessation products: according to mortgage documents. It's tucked in a wooded enclave in Eastlake in southeast Oakville. Lawyer Symon Zucker, who has obtained an injunction freezing all of Spencer's assets, went to court last summer and helped some investors recover their money, along with what was promised as a return on investment and court costs. Monday, Zucker said he still believes more money can be recouped. Before Emexis was locked out of its Peter St. offices for missing rent payments, the company was offering marketing and network support for Tablet PC, a type of laptop allowing users to write on the screen itself rather than a keyboard. Richard Powers, assistant dean at the University of Toronto's Rotman School of Management, said it's curious so many investors would put their faith in someone who appears to have had only one other other business venture in university. "How much experience can you have when you're 25 years old?" Powers asked. However, Powers said it's probably not surprising that investors might have dollar signs Adam Spencer in their eyes. After amazingly profitable success stories, such as Google and YouTube, "everybody's hoping -- that they can hit a home run. Unfortunately, if they had done the due diligence, they may not have invested or not invested to the extent that they did." Powers said what likely helped Spencer raise that kind of money was that the company had several vice-presidents with a lot of experience, based on their website profiles. Police have said they are not implicated in any way. "A combination of his salesmanship really and the experience that he surrounded himself with probably gave people some comfort and provided him with some credibility despite the fact he was so young," Powers said. And in the realm of hightech, youth is an asset, not a liability, added Lawrence Booth, a professor of finance who is also with the Rotman School of Management. For example, the co-founders of YouTube were 27 and 29 when Google agreed to pay $1.65 billion (U.S.) in stock for their website that posts videoclips. The Google founders themselves were around the same age. However, Booth said as an investor he wouldn't be quite so enamoured. "I wouldn't give him $8 let alone $8 million because I tend to believe that somebody who's 25 doesn't have the necessary credentials to run a business and make any money," he said, adding there may be something else at play. "Some people just think that somehow somebody's got some secret pipeline to make much, much higher rates of return and they're going to share this with you," Booth said. "But a basic question in finance is `if somebody does have this secret pipeline where they can make more than 10 per cent without any risk, why on earth would they share it with anybody else?'" Roadmap to Success Spring 2007 Workshop Series Strategies and Skills for Managing Conflict When: Tuesday, February 13, 2007, 9 a.m. to noon Location: Oakville Town Hall, Committee Room One Cost: $30/ save $5 off registrations received by Jan. 26, 2007 Learn about the advantages and disadvantages of the five classic strategies for managing conflict and identify the skills that assist in the execution of these strategies. THE CITY'S BEST BRIDAL SHOW OFFERS FREE ADMISSION FOR BRIDES-TO-BE National Trade Centre, Exhibition Place (Direct Energy Centre) Hours: Friday 5pm-10pm Saturday 10am-9pm Sunday 10am-6pm Show Admission: $15. JANUARY 26-28, 2007 Now what do I say? Media and Crisis Training When: Thursday, March 22, 2007, 9 a.m. to noon Location: Oakville Town Hall, Committee Room One Time: 9 a.m. to noon Cost: $30/ save $5 off registrations received by Jan. 26, 2007 Get ready for a media crisis before it hits! This session explores the Content, Clarity and Commitment of great crisis communication plans. FREE BRIDAL GOWN to be given away every 15 minutes from Sposabella & Ballett's, The Wedding Specialists DESTINATION WEDDING FASHION SHOWS Sponsored by Islands of the Bahamas Friday 7:30pm Saturday 2:00pm & 7:00pm Sunday 1:00pm & 4:00pm to any Sandals Resort in the Carribean DREAM HONEYMOON! Attacking the Fundraising Challenge - Lunch & Learn Series When: Feb. 14, Feb. 28, March 14, March 28, 11:30 a.m. to 1 p.m. Location: United Way of Oakville Boardroom Cost: $60 for full series or $20 per workshop $50 Early Bird Special for registrations receieved by Jan. 26, 2007 Are you satisfied with the performance of your current fundraising program? This 4 part "lunch and learn" series allows participants to focus on various fundraising challenges. $5000 THE BIGGEST HOME ACCESSORY BRIDAL GOWN SALE PRIZE PACKAGE from The Bay IN THE CITY! & Home Outfitters National Gift Registry brought to you by Sposabella "BRIDES-TO-BE" ARE FREE Register for your free ticket by January 21, 2007 at www.nationalbridalshow.com Challenging your Concepts of Change - Lunch & Learn Series When: Feb. 20, March 6, March 20, 11:30 a.m. to 1 p.m. Location: United Way of Oakville Boardroom Cost: $60 for full series or $20 per workshop $50 Early Bird Special for registrations receieved by Jan. 26, 2007 This three part "lunch and learn" series is designed to help organizations and individuals manage change. Topics include: Understanding Change as a Process, 10 Principles of Change Management and Tools and Techniques for Coping with Change. Visit the Brides Choice Photography Gallery for photo excellence & great ideas! Sensational Fashion Show & Destination Wedding Ideas! Hundreds of Exhibitors offering services for your special day! Freixenet Sparkling Wine Garden! Everything for the Groom too! To register for a workshop, contact Angele Wilson at (905) 845-5571, ext. 233. www.nationalbridalshow.com For information or exhibitor opportunities 905-815-0017 or 1-800-265-3673