George will have a video out reference this stuff very soon. Episode 2.
The III community has been stunned the past few weeks with complaints of mistakes made on the part of Sam and Holly Kerodin. Those complaining may or may not have legitimate grievances, but the situation has been compounded by the responses of Sam and his supporters.
The complainers have been pretty unified in their complaints of fiscal mismanagement.
The Sam defenders (to include Sam) have been pretty unified in attacking the complainers instead of addressing the complaints.
In a bold move, Sam announced an audit by a third party auditor. Probably a good move. But also a safe move.
In a Clintonesque move, Sam has been very specific when he does address the complaints. Very specific. The bigger question is what isn’t being audited? Perhaps his own choice of words is appropriate here, “WHO BENEFITS”?
Sam and Holly have been some of the bigger supporters of Legal zoom over the years! They currently have no less than 15 businesses registered in Idaho. If you count the ones that have been forfeited or dissolved just in the past three years, it goes up to 26!
The big business seems to be III Percent LLC. It has six additional “Doing Business As” (DBA) listings registered, to include MacGregor and Grey, America 527, Samuel White, Spartan MMA Academy, Light Warrior Fitness, and Studio III.
A recent venture is the III Partners LLC, registered a mere ten days ago.
With the exception of the III Percent Society for America Ltd, they are all LLCs. The simple definition of a limited liability company (LLC) is that it is a form of business entity that limits the liability of its owners while allowing flexibility in operation and management and passing through its income to its members with no tax at the entity level. In other words, there is no business income tax per se; the income is treated as individual income.
So, let’s look at what is currently registered for business in Idaho.
III Arms Idaho LLC
III Comms Idaho LLC
III Partners Idaho LLC
III Percent LLC
DBA MacGregor & Grey
DBA America 527
DBA Samuel White
DBA Spartan MMA Academy
DBA Light Warrior Fitness
DBA Studio III
III Percent Patriots Idaho LLC
III Percent Society for America Ltd Idaho Non Profit
Idaho Patcon Idaho LLC
Citadel Land Development LLC
DBA Rightful Liberty Project
Who funds what and where does the money go? Are donations and funding to one cause diverted to support another cause?
In the interests of transparency, the Kerodins owe it to their supporters to open up and explain where the interests of these various businesses cross and where is the money shared. If it says III on it or is related to III ventures, we deserve transparency
No, I have no idea who George Patton is – this GP, not the tank guy. But he’s done his research, that’s for sure.
Comments and links come from a disposable email address. I damned sure didn’t write it – there ain’t a single cuss word in there.