Saturday, January 07, 2012
When did Alvin New became an investor and board member of MedHab LLC? Where in the following timeline did his initial investment occur and when was he elected to the board? These could be two different dates.
1. MedHab is introduced to the Concho Valley Angel Investor community by Lee Pfluger. Discussions begin with the City of San Angelo (2008)
2. Alvin New meets MedHab's Johnny Ross at an investor presentation. New volunteers to help MedHab with negotiations with the City of San Angelo, the Chamber of Commerce and State of Texas (prior to October 2009).
3. MedHab's Johnny Ross supports Alvin New in his bid for Mayor via a Standard Times Letter to the Editor in October 2009. Ross indicates he will select a plant site in the coming year (2010).
4. Mayor New wins election in December 2009. Turnout is low as citizens are focused on Christmas.
5. MedHab's floats $255,000 in equity in October 2010. Eight investors are shown on the SEC filing. Minimum stake is $25,000.
6. MedHab offers another $1.8 milllion in equity in May 2011. The minimum investment remains at $25,000.
7. Mayor New files an affidavit on his relationship and holdings with MedHab (not published).
8. San Angelo City Council approves a change in its conflict of interest policy to allow elected representatives to hold an equity stake in companies doing business with the city. Council drops their previous standard which would have caused Mayor New to choose between his MedHab stake and being Mayor. (January 2012)
9. City Council gives MedHab a late Christmas present, $3.6 million in economic incentives. (January 2012)
Obviously Mayor New's investment came before Item #7. Maybe New's affidavit will add light to this rough timeline.
by PEU Report/State of the Division at 5:37 PM