Tallahassee Reports has learned that the owners of the Edison Restaurant in Cascades Park, did not disclose investors in the Edison restaurant on the application for a beverage license, as required by Florida state law.
Cascade Holdings, LLC, doing business as The Edison, filed for a Florida state beverage license on September 2, 2015. The license allows for the sale of alcohol on the restaurant premises.
The beverage license application states:
I swear under oath or affirmation under penalty of perjury as provided for in Sections 559.791, 562.45 and 837.06, Florida Statutes, that I have fully disclosed any and all parties financially and or contractually interested in this business and that the parties are disclosed in the Disclosure of Interested Parties of this application. I further swear or affirm that the foregoing information is true and correct.
Both Adam Corey and Ryan Grindler, managers of Cascade Holdings, signed the documents in the presence of a notary public. See application here.
The Tallahassee Democrat reported for the first time, in an article on October 18th, 2015, that there were financial investors beyond Corey and Grindler.
From the article:
One of the investors is Sean Pittman, whose company, ESP Media, has worked for Gillum’s campaigns. Pittman also is a city lobbyist, who for years has subcontracted under powerful Florida lobbyist Ron Book.
Pittman is one of about a dozen wealthy investors. The smallest investment is one percent, representing $12,500, Corey said, and no one owns more than 10 percent. Corey secured a commercial loan to transform the eyesore into a showpiece.
Corey and Grindler told the Democrat that they had rather not reveal the names of the investors.
However, the application for a Florida state beverage license includes one page dedicated to disclosing investors and related questions. Go to page 7 of the application here.
Corey and Grindler disclosed that they were the only owners, which contradicts the statements made to the Tallahassee Democrat.
Tallahassee Reports talked to Department of Business and Professional Regulation (DBPR) and was told that all investors with more than a 1/2 percent interest would have to be disclosed, even if the investment occurred after the beverage application was filed.
A public records request by TR revealed that no such disclosure has been filed with the DBPR.
In addition, sources tell TR that there are questions about the timing of the investments and the filing of the beverage license application.
As previously stated, the application for the Edison was filed on September 2, 2015.
Sean Pittman, an investor, tweeted on September 14th that he was a partner.
Did any individual investment from other than Corey and Grindler take place before the beverage application was filed with the state of Florida on September 2, 2015?
If so, penalties could include revocation of the beverage license.
DBPR told Tallahassee Reports that the only way this could be determined would be with an investigation initiated by the Division of Alcohol, Beverages and Tobacco.
Editor’s Note: Tallahassee Reports continues to get calls and emails from citizens and business owners regarding the operation of the Edison. When we can verify information with documents we will publish reports.