Ultra Technology store forced out of business by Humboldt Bank

[jfox@xxxxxxxxxxxxxxxxxxx (Jeff Fox)]

Humboldt Bank:

This letter is to inform the staff at Humboldt Bank, the Ultra Technology
customers who have been effected by the actions of Humboldt Bank, the Federal
Banking Regulation Agency, and the California Attourney General that Huboldt
Bank has taken the stance that I must shut down the Ultra Technology Online
Store.  Humboldt bank siezed all of the funds in the Ultra Technology
account over a month ago and althought I have sent them 28 mail messages
and made multiple long distant calls every day they have never sent
me a single reply to my email or resolved the issue.

They informed me by phone today that they will continue to hold the funds and
will not give me a date when they will transfer the funds.  They have
even gone so far as to claim a catch 22 situation which is that I
have not shipped the products so they cannot give me the money.  I have
told them that I ship the products when I get the money because I
cannot ship until it is paid for.  They want me to ship the $1000 worth
of products and then wait more than a month for the $1000 that they
have siezed.  It has now been over a month and they will still not even
give me a date when they intend to transfer the funds.

I have informed them many many times that I have not been able to ship
product or even buy food, and that I have had to go a couple of weeks
without eating while waiting for them correct their error.  When we
setup the account I estimated that the store would do $200 worth of
business in the first month and that it would ramp up to thousands
of dollars per month.  Someone ordered a DYOP kit and it resulting in
the bank having an excuse to sieze all of the funds in my account and
sit on them indefinately because it cost more than $200.

I have informed the bank that I cannot continue to operate the business
indefinately with no income and that if they refuse to turn over the
money that my customers have spent for Ultra Technology products that
they will have forced me to close the store, inform my customers, file
complains with the banking commision, the California Attourney General,
and file a law suit against them.  They have still refused to even give
me a date when they will transfer the money that they have taken from
my customers and turn it over to me.

If I do not get a call from the Bank today giving me a date when they
intent to transfer the funds I will take the store offline tonight
and file the complaints and law suits tomorrow.  I have kept people
informed of these developments through the MISC mail list, however
it appears that like my job at iTV and the account at Humboldt Bank
that the MISC mail list has been shut down for some time so I am
cc'ing all the customers whose orders are going to canceled because of
Humboldt Bank.

If you are not pleased with this situation please do not complain to
me.  Please file your complaints with Allen Rode arode@humboldtbank.com
or with the president of Humboldt Bank or with the appropriate regluatory
agencies.  You may of course file your own law suits but there will be
little that you can get out of Ultra Technology since there are no longer
any funds here.  I know that Humboldt Bank has siezed money from a number
of you and I would appreciate it if you tell Humboldt Bank what you
think of the actions that they have taken.

Let's hope that Humboldt Bank decides to turn over all of the money from
the Ultra Technology customers that they have siezed and been sitting on
for more than a month or at least gives me a date at which they will
transfer that money to me so that I can ship you your products.  Let's
hope that Humboldt Bank does not follow through on their threats to
continue to hold the money indefinately until Ultra Technology has been
forced out of business.

Best wishes,
Jeff Fox
Ultra Technology