Pigeon King responds to Better Farming
Regarding your articles on Pigeon King International Inc. I would like to make some corrections.
Firstly, I began Multiplication Contracting Pigeon Breeding Stock in 2001, not 2004.
Money used for improvements at Sacred Dove Ranch were shareholder advances and show as part of what I took out of the business. If you average what I took out over the last 8 years you will paint a totally different picture.
Half of all the money you are showing as Bank Deposits and Bank Withdrawals is actually in house transfers from PKI to Sacred Dove Ranch Inc. and Benn Contracting Inc. This money was transferred back to PKI.
Sacred Dove Ranch Inc. is a holding company used as a savings account to hold cash assets. Benn Contracting is an in-house model for demonstrating sub contracting of Pigeon Breeding Stock.
Actual pigeon sales is only 23 million. All the rest is money flowing from PKI and back to PKI. No money mysteriously disappeared and no crime is involved. Bank records prove clearly how the money went back and forth between the 3 corporations. All 3 corporations have Canadian and USA dollar accounts.
It is unfortunate that you did not understand this before you published such misleading analysis.
I built my house at Cochrane to have a place to live near the Squab Processing Plant not to retire. I had no intention of ever retiring. The Cochrane property has always been in my name personally owned by me. It is called Sacred Dove Ranch, however, it is completely separate from my holding company, Sacred Dove Ranch Inc.
Multiplication Contracting of any type of livestock is not a pyramid or Ponzi scheme.
I trust you will publish on your web site and magazine.
I am forwarding this to Susan Taves at BDO Dunwoody.
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