StrictPay Customers
We have spent numerous months trying to battle this situation with the banks and authorities that are holding the majority of our funds, as well as trying to keep StrictPay in business by making the changes outlined in the email update sent on 5-29-10. The problem now is that we are not making any progress on the situation with those two entities, and we have received more news from our legal team. They feel that with the latest developments with the frozen funds, that we are very likely looking at this issue not being resolved for at least 12 months as a best case scenario, and possibly up to 24 months as a worst case scenario. We still cannot speak of any specifics, other than to say (as we stated earlier) that two of the major merchants that accepted StrictPay as a payment option were being heavily investigated by the authorities, and we were pulled into that investigation as well due to them accepting us as a payment option, and even more so because all three of us had accounts with the same bank. Due to the frequency and volume of their requests, one of them found out which bank we were using and specifically got an account at that same bank in order to get funds transfers more quickly, as well as to save them some bank fees. Only a select few customers knew the location of our main bank containing the majority of our funds, and that will never happen again. This is also why we have always sent and received funds from banks other than the ones that hold the majority of our funds. We know it is frustrating for everyone, but we need to do what is right for our company, and that means that we cannot give any other detail on this legal matter. We want to stress again that there is not an issue with StrictPay being involved with these two merchants, but it is almost as simple as us having the majority of our funds in the wrong bank at the wrong time.
It is important to note that we had a similar situation happen to us quite some time ago with Stanford Bank, and we recovered from that without any issues that involved our customers or the time we took to process transactions for you all. As a matter of fact, we still have not had a single penny returned to us from that situation, but we kept being able to serve our customers none the less. It is also important to note that our owners have recently added just over $100,000 of their own funds to help us try to continue to process as many of the withdraw requests as we could these last few weeks. They did this even though we have not had much support since the original update was sent on 5-29-10, and the situation looked like it was going to get worse. We understand that we are very behind on many withdraw requests, but we have used this entire 100k with virtually nobody reporting to the various outlets that we have indeed paid them. 70k of this money was used for processing bank wire withdraw requests, including some to exchanger services in hopes that they would continue to work with us, 20k was used to process debit card withdraw requests, and 10k was used to process check by mail withdraw requests. We have not gotten very many deposits, and we have even held off on processing ACH deposit requests until now when we received a better update concerning the situation. We would hope this shows that we are not just trying to get new funds so we can run, as seems to be one of the widely reported rumors circulating. That being said, we will need new funds to support us in the future, as we will outline below, but this is not in order to accumulate funds for ourselves, but rather to help all of our customers recover their own funds more quickly.
With this latest news of the possible best and worst case time frames it is likely to take to resolve this issue, we are only left with two choices to keep StrictPay in business. Those two choices are:
1. We put StrictPay on hold until this issue with the frozen funds gets resolved. This is going to take somewhere between 12 and 24 months to resolve, and during that time our customers would not be able to get any of their funds out of their accounts. This would mean that there is essentially no more StrictPay activity until this situation is resolved, and we feel that this option does not help anyone in the short term.
2. We keep StrictPay in business and activity continues, including the customer support, transaction processing times, etc. that you all have commended us on in the past before this current situation caused us to fall behind. We do this by creating one sub account for every current StrictPay account, and start each sub account with a zero balance. We allow all current accounts to work as they are now, and all people that make deposits, or receive funds transfers, from this new sub account to another new sub account, will have their funds go only into their new sub account. Each customer's older accounts with their current balances can still be used to send and receive funds if they wish, but the balances on those old accounts cannot be used to withdraw funds. We think this is very important as it allows customers and merchants to use these accounts freely again, and you will eventually get these funds moved to the sub account that can be withdrawn out as we will explain below. We have been told that many merchants are not taking StrictPay because they feel they are stuck with "dead funds", but with the system we will explain below this will not be the case. The new system is a great way to build and work with your current account, and over time those funds will get moved to your new sub account that can have funds withdrawn from it.
To continue with number two above, here is how the new system will be implemented. Any withdraw request from a current account will be refunded back into that account. New customer sub accounts will be the same StrictPay account number but older current accounts will be the same account number with a "-1" after them. This way customers and merchants alike will know exactly what customer account sent the funds (either a sub account which can have withdraws, or the older StrictPay accounts with a "-1" that cannot have withdraws). New sub accounts will only be able to send and receive funds to/from other sub accounts, and older accounts will only be able to send and receive funds to/from other older accounts with the "-1". With this new system in place, if customers begin to use our services again as they have done for well over 2 years, we will then start to take no less than 0.75% of the 2% Send Funds fee every few weeks and credit that amount to the sub accounts of every customer. This same credited amount will also be taken out of the older account, and thus customers will be able to again begin to gradually see their funds move from the older accounts that do not allow withdraws, to the newer sub accounts that will allow withdraw requests.
We obviously feel that number two is the better of the two choices. Now it is very important to realize that this will only work if people use our services like they did before. We would hope that will be an easy choice for people to do, as this will help everyone eventually receive all their funds, as well as the fact that our superior customer service was what made us as big as we are now. StrictPay in fact started many of the trends you see in the payment processor industry today, such as the live chat support option, and shorter stated customer service reply time frames that were actually met. We have always been proud of the fact that we were heralded as having the best customer service in the industry, and this will continue after these new changes are implemented. We are sure that some will say they would not use us again, even with the implementation of these new changes, and to those people we would ask "Why?" Before this happened, StrictPay was a top option for many customers and merchants, and if we truly wanted to just fold up shop and disappear without trying to help our customers, we would have done so before dumping over 100k of our own money into trying to keep this afloat. We also will continue to use what is universally considered the best DDOS protection company, one that is not even connected to this industry, and we would not continue to pay for this service if we wanted to just close up shop.
Implementing these changes also allows us to offer better withdraw limits for our customers. We will still leave the "real time" withdraw request time frames in place so you can see how long requests are currently taking to process, but keep in mind that it will take the first few days of withdraw requests being entered into the system to really become accurate. Here are the new withdraw request maximum limits:
Wire withdraws: $100 minimum and $7,500 maximum
Debit card withdraws: $10 minimum and $1,000 maximum
Check by mail withdraws (available to U.S. customers only): $10 minimum and $2,000 maximum
Please keep in mind that we still have the following options available for depositing funds, and all options will be "no fee" options until further notice: ACH (for U.S. customers only), bank wire, and personal check, money order, or cashier check by mail.
StrictPay continuing to do business should also be welcome news to one of the bigger merchants (and their customers) that were using our services until they had to put things on hold for sometime. There is word that they are about to begin processing refunds to their customers, and once they make a deposit into their new sub account, they will then be able to start refunding StrictPay customers as well. This in turn will provide us with fees from the transfers that we will use to help to move funds from the old StrictPay accounts to the newer sub accounts that you can withdraw from.
The bottom line is this: If people use our services by depositing funds into their new sub accounts (which can also be withdrawn from at any time), and use us as one of their main payment processor options again as they always have, then we will recover from this. Eventually then ALL customers will get their full balances moved to their new sub account over time, and things will be back to normal more quickly than if everyone had to wait up to 24 months in hopes that we recover all of our funds. Lawyer fees will not allow us to get the entire amount back, but we do not foresee anything else cutting into that recovery amount. We all have a lot to lose if people choose not to continue to use StrictPay as a payment option, but we can all only gain if everyone uses StrictPay as they always have in the past.
We would like to leave you with this one last question: What do you have to lose by using StrictPay again, knowing that we have always been there in the past for our customers without issue? If you still have a need for an online payment processor, then why not choose to use StrictPay as you always have.
As always, we appreciate you choosing StrictPay as a payment option, and we shall see over the next few months if everyone will actually help us get back to a sense of normalcy using this new system.
Thank you
Team StrictPay
StrictPay issue
Very Important Update from StrictPay
StrictPay Update 5-29-10
StrictPay Customers
We want to share more details concerning our current banking situation, and some changes that are going to be occurring due to that situation. It appears that the authorities and the bank have not come to a complete understanding as we thought they did previously. The bank is still holding onto our funds, and they are no longer giving us any concrete time frame for when we can expect them to be released. We have some funds in other bank accounts, but the majority of the funds are in the bank that is currently not allowing us access to our funds, and it appears that the situation may not be completely resolved in the near future. We understand that many of our customers have questions concerning this situation, but for the integrity of the investigation, and for obvious legal reasons, we cannot go into any details at this time. We believe that one day we will be able to speak about the whole situation, but until that time we just cannot.
It is imperative that our customers understand that it is not StrictPay that is under investigation, but instead it is our one major bank account that has the funds frozen at this time. As we stated earlier we have some funds in other banks, and this coupled with the new deposit and withdraw options we have available has allowed us to continue processing some withdraw requests for the last couple of months while we have dealt with this issue. We understand though that these withdraw requests are obviously not happening at a pace that is convenient for anyone. Due to these struggles, we have discussed many scenarios for keeping StrictPay operating. As we have always wished this to be a long-term payment option for our customers, we must make decisions that insure that we will still be in business for many years into the future. We have decided that the best options for long-term company success are as follows:
1. Cancel all pending withdraw requests, and all funds go back into customers' StrictPay account balances
2. New withdraw limits for each different withdraw option we offer
3. Remove the current time frames for withdraw requests
4. Introduce the new average time frame tracking option
There are new withdraw limits in place for each different option we offer, and you can view these limits by clicking on the Withdraw link and choosing each option. You will also notice that on each page we have replaced the expected time frames with the current average time frame for that option of withdraw. We cannot know if the time frames on withdraws are going to be days, weeks, or months, but at least we wanted to give our customers the option of monitoring the time frames as they gradually trend towards improvement. Our funding department will then continue processing withdraw requests in the order they are received as funds become available to us, and this also gives all customers the option to use one of the many exchanger services that accepts StrictPay to withdraw their funds if they wish.
We know this solution is not ideal for anyone involved, but it allows us to continue serving our customers for both the short term and long term. These reduced limits allow us to be able to maximize our available funds in order to help us to process requests for a bigger percentage of our customers. Our customers can also count on being able to either use their funds with merchants that accept StrictPay, or to know that they will be able to withdraw their funds eventually. The only other two options we see available at this time would be to temporarily shut down the StrictPay website until this situation is resolved, or to change our entire system so that we only do deposits and withdraws through the use of exchanger services. We feel that these newest changes will at least give our customers more than one option, where as the other two choices we mentioned really do not.
Over the years we have been very flattered by, and thankful for, the level of support that our customers and merchants have shown us. During these next few months the success of StrictPay is going to be inherently tied to this continued support of our customers and merchants. We are aware that there are certain online information sources that have been making claims of us not doing any withdraws for people, as well as spreading other disparaging rumors that are just not true. Our plea to our customers is a simple one: do not buy into the negative thought processes that seem to be prevalent in many online forums, blogs, and message boards. While it is true that our withdraw request time frames are delayed, and a major inconvenience for our customers, the claims that we are not processing any withdraws are simply false. We truly believe that the changes we have implemented, along with the continued support of our customers and merchants, will insure the long term success of StrictPay. We apologize for the inconvenience this is causing, and we ask for your patience and understanding during this transition period.
Thank you
Team StrictPay
www.strictpay.com
Aballong suspended
We've been forced to move Aballong to the WAITING Status due to the numerous complaints about payments and/or refunds not received from our Fellowers.
No reply from the Admin to our Warning messages during the last 24 hours
No reply from the Admin to our Warning messages during the last 24 hours
HYIFund to WAITING Status
Hello.
No replies from HYIFund Admin,and no explanations about the pending payouts detected all over the Web and reported by our Fellowers.
We've to stop monitoring HYIFund and move it to WAITING Status on HBMonitor TopChart.
HYIFund was ranked since 7-10-2009.
No replies from HYIFund Admin,and no explanations about the pending payouts detected all over the Web and reported by our Fellowers.
We've to stop monitoring HYIFund and move it to WAITING Status on HBMonitor TopChart.
HYIFund was ranked since 7-10-2009.
WaterInvestment is gone
Something that came as a huge blow to many of us today was the missing payments from WaterInvestment.
Many of you noticed that the members’ area of WaterInvestment website is currently available to members ,but that no payouts were made in the last 48 hours.
If it had been a technical problem the Admin would have surely updated us about that by now.
I would like to warn you from depositing into WaterInvestment until we get some news from the Admin as you still can do it from the main page.
I’m terribly sorry for those who lost money as I genuinely believed in the Admin’s good intentions up until yesterday.
It's a bit funny to see that our HBMonitor Button has been removed from their RATINGS page.
Many of you noticed that the members’ area of WaterInvestment website is currently available to members ,but that no payouts were made in the last 48 hours.
If it had been a technical problem the Admin would have surely updated us about that by now.
This only makes me think that the program is gone
I would like to warn you from depositing into WaterInvestment until we get some news from the Admin as you still can do it from the main page.
I’m terribly sorry for those who lost money as I genuinely believed in the Admin’s good intentions up until yesterday.
It's a bit funny to see that our HBMonitor Button has been removed from their RATINGS page.
OneDailyPro activities suspended
Dear valued clients,
The OneDailyPro.com project has officially closed today. We don't want speak too much about the reasons. We don't want to cheat new investors by accepting new deposits. New registrations has been suspended. Accepting of new deposits has been suspended. It seems that problems with several giant projects has affected the OneDailyPro.com project too. We see the large wave of principals withdrawals every day. Due to this OneDailyPro.com can't continue stable work. We'd like to thank all clients for their support and trust.
We are working under refund rules to minimize your possible looses. Please, be patient.
Best regards,
OneDailyPro.com Staff
The OneDailyPro.com project has officially closed today. We don't want speak too much about the reasons. We don't want to cheat new investors by accepting new deposits. New registrations has been suspended. Accepting of new deposits has been suspended. It seems that problems with several giant projects has affected the OneDailyPro.com project too. We see the large wave of principals withdrawals every day. Due to this OneDailyPro.com can't continue stable work. We'd like to thank all clients for their support and trust.
We are working under refund rules to minimize your possible looses. Please, be patient.
Best regards,
OneDailyPro.com Staff
Aballong Website temporary unavailable
Dear HBMonitor,
We were having some connection errors yesterday, and I want to apologize if you have had problems to access and request your earnings, the site is fully functioning again, and the host aware us on a maintenance going on until Tuesday.
During this time, it can come to slow connections, if you have trouble accession our page just wait a few minutes and try again. At the moment, all works fine and very fast, but if it is slow for a while you know now the reason.
Martin and I got many support requests because of the really long time of downtime yesterday.
As I explained it is a maintenance on hushhosting, you read about on there website.
Martin and I extend the time of accepting investments until Thursday Midnight GMT to give everyone the change to be a full upgraded member.
We will surely close and delete every empty account at this time, so please do not send us moire request to give more time, there is a 4-day gap, and we believe within 4 days everyone can upgrade in time.
Regards Alrea
We were having some connection errors yesterday, and I want to apologize if you have had problems to access and request your earnings, the site is fully functioning again, and the host aware us on a maintenance going on until Tuesday.
During this time, it can come to slow connections, if you have trouble accession our page just wait a few minutes and try again. At the moment, all works fine and very fast, but if it is slow for a while you know now the reason.
Martin and I got many support requests because of the really long time of downtime yesterday.
As I explained it is a maintenance on hushhosting, you read about on there website.
Martin and I extend the time of accepting investments until Thursday Midnight GMT to give everyone the change to be a full upgraded member.
We will surely close and delete every empty account at this time, so please do not send us moire request to give more time, there is a 4-day gap, and we believe within 4 days everyone can upgrade in time.
Regards Alrea
Aballong Interview
Hi Admin, for the benefit of our Readers could you please introduce yourself and tell us exactly what it is you do in Aballong?
Hello to, all your readers, my name is Alrea and I am the wife of the actual man who makes the arbitration, my husband Martin.
I am here for public relations, support and of course deal with the payments daily.
We know there are more people involved in the running of Aballong.
Could you please introduce us to the entire Aballong Team and tell us what exactly they do in the group?
As I mention I handle the public relations, my husband Martin does the arbitration, so we are just a family based investment, but we are doing our best to make sure you get your payments always on time.
Surebets Programs are damnly hot now.. What about your own personal experience in running this kind of business ?
How long has Aballong now been in operation?
We are operating a little more than 2 months, and I believe we are the only arbitration based program what actually shows you how we make your money.
In the Member Area, you can see our bets before we place them.
How confident are you with your site security level?
Are you on a dedicated server and how protected are you from DdoS attacks?
Tell us also about the script and any other security features.
Aballong is hosted on a dedicated server of hushhosting, what is one of the best ddos protectors in the hyip industry.
We are confined, we do have here the right partner.
They also installed the script.
What is a modified neversay script, with many additional features like the variable payment plan, etc.
Also, as you have one of the most unique Program I can remember,could you also please explain in detail what it is that Aballong does as a business?
If I join with let’s say $1000, what do you do with that ?
Aballong is pretty open how we make our money, we place your money via arbitration in a few different bookies, you can see the bet's always in your member area.
You will se the complete return we do make on a day, and we deduct 15% as our payment.
This way we are getting also paid and are not like most hyips backed on hot air and promise.
As you might see an example on our site:
Aballongs income distribution plan is simple..
100% of the ROI- the bet profit (will be fully reflecting on your account)!
During the withdrawal request, you receive 85% - 5% (administration fee) - 10% ( for expenses,commissions, transfer fees, exchange fees, etc.)
For instance (a simplified example):
You invest $1000.
We place bets with two bookmakers, on arbs returning a profit of 2.22%.
The income after the game comes to $22.2.
A sum of $18.87 is immediately added to your account.
I receive $1.11 for generate the profit to you.
$2.22 is allocated for expenses!
How much can your members make from their investment and do they get paid daily, weekly or monthly?
What are the minimum and maximum amounts to invest?
The returns are around 20-30% a month for a full year, with daily earnings (based on the daily return) and daily payments.
What type of payment processors do you accept and do you plan to accept more payment processors in the future?
Are payouts automatic or do I need to request them?
Payments are most supported, we accept Alertpay (incl Visa, master and Amax payments), Solidtrustpay, Strictpay, LibertyReserve,PerfectMoney and we also accept Bank deposits. Payments are daily to your account balance, you need only to request (or reinvest it) and we pay you within 24 hours.
What about Company’s commission for early withdrawal?
We do not charge for an early withdrawal, but you need to cancel the investment 30 days in advanced, since your money is in our bookies in rotation.
Do you offer any referral commission and can members open more than 1 account?
Everyone is allowed only one account, and we pay 4% for the people in you refer.
What kind of Customer service and Support do you offer to investors?
We do offer Email support, we were having a kayako ticket system,but we found it easier to answer emails as they come from our cell phone, so the answers are quicker, and we do not have all at once.
Do you have a physical office/address for your Company or do you operate from home?
What advertising strategy are you using?
We are working from home, as it is not recommended to make arbitrations with only one account, we need to have a few, so we cannot just do this with one company account, the bookies would freeze our account.
Therefore I can also not make our full address available on the site.
We do have a small but good advertisement campaign, actually our best referral supporters invested their money themselves, therefore we have real money invested and to just many monitoring services we need to look after.
The best advertisement a program can get is from happy investors telling other potential investors.
If you had just one thing to say to potential members to convince them to give you their money, what would it be?
I would just say, look at our site, compare other sites with us, we are the only one showing how we make you your money.
Forgetting about Aballong for a second, what is your opinion of the online investment industry in general?
What do you think about latest BIG Scams?
I am not an investor of the hyip industry, and honestly I do not follow these scams, we do make arbitration, and follow somehow into this hyip world, we were not planing on this, and honestly I can't say to much about there disappearance, the only one I can say is they just not invested your money, if they would, they would not be gone.
I want also to say thank you to give us this opportunity, you have a good Blog.
Thank you :-)
Aballong Interview by HBMonitor
Hello to, all your readers, my name is Alrea and I am the wife of the actual man who makes the arbitration, my husband Martin.
I am here for public relations, support and of course deal with the payments daily.
We know there are more people involved in the running of Aballong.
Could you please introduce us to the entire Aballong Team and tell us what exactly they do in the group?
As I mention I handle the public relations, my husband Martin does the arbitration, so we are just a family based investment, but we are doing our best to make sure you get your payments always on time.
Surebets Programs are damnly hot now.. What about your own personal experience in running this kind of business ?
How long has Aballong now been in operation?
We are operating a little more than 2 months, and I believe we are the only arbitration based program what actually shows you how we make your money.
In the Member Area, you can see our bets before we place them.
How confident are you with your site security level?
Are you on a dedicated server and how protected are you from DdoS attacks?
Tell us also about the script and any other security features.
Aballong is hosted on a dedicated server of hushhosting, what is one of the best ddos protectors in the hyip industry.
We are confined, we do have here the right partner.
They also installed the script.
What is a modified neversay script, with many additional features like the variable payment plan, etc.
Also, as you have one of the most unique Program I can remember,could you also please explain in detail what it is that Aballong does as a business?
If I join with let’s say $1000, what do you do with that ?
Aballong is pretty open how we make our money, we place your money via arbitration in a few different bookies, you can see the bet's always in your member area.
You will se the complete return we do make on a day, and we deduct 15% as our payment.
This way we are getting also paid and are not like most hyips backed on hot air and promise.
As you might see an example on our site:
Aballongs income distribution plan is simple..
100% of the ROI- the bet profit (will be fully reflecting on your account)!
During the withdrawal request, you receive 85% - 5% (administration fee) - 10% ( for expenses,commissions, transfer fees, exchange fees, etc.)
For instance (a simplified example):
You invest $1000.
We place bets with two bookmakers, on arbs returning a profit of 2.22%.
The income after the game comes to $22.2.
A sum of $18.87 is immediately added to your account.
I receive $1.11 for generate the profit to you.
$2.22 is allocated for expenses!
How much can your members make from their investment and do they get paid daily, weekly or monthly?
What are the minimum and maximum amounts to invest?
The returns are around 20-30% a month for a full year, with daily earnings (based on the daily return) and daily payments.
What type of payment processors do you accept and do you plan to accept more payment processors in the future?
Are payouts automatic or do I need to request them?
Payments are most supported, we accept Alertpay (incl Visa, master and Amax payments), Solidtrustpay, Strictpay, LibertyReserve,PerfectMoney and we also accept Bank deposits. Payments are daily to your account balance, you need only to request (or reinvest it) and we pay you within 24 hours.
What about Company’s commission for early withdrawal?
We do not charge for an early withdrawal, but you need to cancel the investment 30 days in advanced, since your money is in our bookies in rotation.
Do you offer any referral commission and can members open more than 1 account?
Everyone is allowed only one account, and we pay 4% for the people in you refer.
What kind of Customer service and Support do you offer to investors?
We do offer Email support, we were having a kayako ticket system,but we found it easier to answer emails as they come from our cell phone, so the answers are quicker, and we do not have all at once.
Do you have a physical office/address for your Company or do you operate from home?
What advertising strategy are you using?
We are working from home, as it is not recommended to make arbitrations with only one account, we need to have a few, so we cannot just do this with one company account, the bookies would freeze our account.
Therefore I can also not make our full address available on the site.
We do have a small but good advertisement campaign, actually our best referral supporters invested their money themselves, therefore we have real money invested and to just many monitoring services we need to look after.
The best advertisement a program can get is from happy investors telling other potential investors.
If you had just one thing to say to potential members to convince them to give you their money, what would it be?
I would just say, look at our site, compare other sites with us, we are the only one showing how we make you your money.
Forgetting about Aballong for a second, what is your opinion of the online investment industry in general?
What do you think about latest BIG Scams?
I am not an investor of the hyip industry, and honestly I do not follow these scams, we do make arbitration, and follow somehow into this hyip world, we were not planing on this, and honestly I can't say to much about there disappearance, the only one I can say is they just not invested your money, if they would, they would not be gone.
I want also to say thank you to give us this opportunity, you have a good Blog.
Thank you :-)
Aballong Interview by HBMonitor
GoldNuggetInvest Newsletter April 3rd. 2010
Greetings to all GNI Friends:
This newsletter will address the following:
1. Status of Refund Requests
2. The New Program
3. Easter
Status of Refund Applications:
At the time of this writing we are at a bit over 500 Refund Applications completed. I spoke with Todd who advised me we are able to process up to 100 per day, but Debbie and he are receiving upwards of 80 emails PER DAY requesting status of their particular refund.
To provide the status of any given ticket takes, in terms of total time spent, the amount of time it takes to process two refund applications. This means they could, at this point be over 1100 applications processed.
I urge all Applicants to PLEASE refrain from sending these emails. They are compelled to answer the emails before working the refund applications. Further, nobody receives refunds sooner because their Application was submitted and processed before the next person. As they near the end of the process, they will put out a call to members with a date through which refund applications have (had) been processed. Nobody needs to be concerned.
The New Program:
We have completed a Narrative detailing our new project. It is our intention to keep this program and process absolutely private.
Those of you who are interested need to submit a ticket at this link: http://gniforum.com/newgni
Our new project will require a minimum deposit amount of $1,000.00, and in shares / blocks of $1,000.00. In this ticket we need your current GNI Username and the
approximate amount of "shares" (blocks of $1,000.00) you expect to purchase. Keep in mind, there will be no 'TEST SPENDS' permitted.
This is a very serious program and will require extensive effort on our end, please keep this in mind when making decisions.
Easter Greetings:
At this time, we would like to take a moment to wish all a very happy Easter. Take a moment to reflect on all the good that you have going on in your life. We know many of you are struggling. This hasn't gone by us unnoticed or unscathed. We are confident the second half of 2010 will only be better for us all.
Thank You all Once Again,
Robert and the Reduced in Size, GNI TEAM
This newsletter will address the following:
1. Status of Refund Requests
2. The New Program
3. Easter
Status of Refund Applications:
At the time of this writing we are at a bit over 500 Refund Applications completed. I spoke with Todd who advised me we are able to process up to 100 per day, but Debbie and he are receiving upwards of 80 emails PER DAY requesting status of their particular refund.
To provide the status of any given ticket takes, in terms of total time spent, the amount of time it takes to process two refund applications. This means they could, at this point be over 1100 applications processed.
I urge all Applicants to PLEASE refrain from sending these emails. They are compelled to answer the emails before working the refund applications. Further, nobody receives refunds sooner because their Application was submitted and processed before the next person. As they near the end of the process, they will put out a call to members with a date through which refund applications have (had) been processed. Nobody needs to be concerned.
The New Program:
We have completed a Narrative detailing our new project. It is our intention to keep this program and process absolutely private.
Those of you who are interested need to submit a ticket at this link: http://gniforum.com/newgni
Our new project will require a minimum deposit amount of $1,000.00, and in shares / blocks of $1,000.00. In this ticket we need your current GNI Username and the
approximate amount of "shares" (blocks of $1,000.00) you expect to purchase. Keep in mind, there will be no 'TEST SPENDS' permitted.
This is a very serious program and will require extensive effort on our end, please keep this in mind when making decisions.
Easter Greetings:
At this time, we would like to take a moment to wish all a very happy Easter. Take a moment to reflect on all the good that you have going on in your life. We know many of you are struggling. This hasn't gone by us unnoticed or unscathed. We are confident the second half of 2010 will only be better for us all.
Thank You all Once Again,
Robert and the Reduced in Size, GNI TEAM
ArcherTradingLtd game over
Something that came as a huge blow to many of us today was the missing payments from ArcherTradingLtd.
Many of you noticed that the members’ area of Archer website is currently available to members ,but that no payouts were made yesterday.
If it had been a technical problem the admin would have surely updated us about that by now. This only makes me think that the program is gone.
I would like to warn you from depositing into Archer until we get some news from the admin as you still can do it from the main page.
To say that I’m disappointed with this outcome would not be an understatement.
Archer was really very fast with all the support requests and queries which definitely attracted many members to the program.
In addition the site’s design and script was good and so I don’t see the reason why she had to stop this successful program.
Archer has been running for more than 9 weeks so only those who joined in the very beginning should be in profit by now.
I’m terribly sorry for those who lost money as I genuinely believed in the admin’s good intentions up until yesterday.
Many of you noticed that the members’ area of Archer website is currently available to members ,but that no payouts were made yesterday.
If it had been a technical problem the admin would have surely updated us about that by now. This only makes me think that the program is gone.
I would like to warn you from depositing into Archer until we get some news from the admin as you still can do it from the main page.
To say that I’m disappointed with this outcome would not be an understatement.
Archer was really very fast with all the support requests and queries which definitely attracted many members to the program.
In addition the site’s design and script was good and so I don’t see the reason why she had to stop this successful program.
Archer has been running for more than 9 weeks so only those who joined in the very beginning should be in profit by now.
I’m terribly sorry for those who lost money as I genuinely believed in the admin’s good intentions up until yesterday.
GNI last update
Topics to be Addressed:
1. Refund Status and Tentative Repayment Date
2. Refunds for the Deposit Repurchase Program
3. The "New" GNI
4. Smear Campaign
*****
Greetings to all GNI Friends:
1. Refund Status and Tentative Repayment Date
We have received quite a few applications for refunds; over 1700 to date and this campaign has just begun. This is a HUGE effort requiring a very specific skill set, fair review of all applications and most of all consistency from one Refund Application to the next. Therefore Todd and Debbie will be those GNI people working diligently to get these done in a fashion described above.
To ensure fairness amongst all of our customers, an appropriate amount of time to procure the necessary funds and to take some of the pressure off of these two, I have decided that all claimants will be paid their due refund within a very few days. This should take place between May 15th and June 15th; perhaps sooner, depends on how quickly they are able to process these refunds.
This is not to avoid paying owed refunds, it is to ensure fairness to those who are owed funds, it is to ensure we have adequate time to obtain the funds while subscribing to the notion of fairness to our traders and bookies. We ARE NOT going to RUN!!!
During this process, I have asked Todd to provide to me a weekly status report which will be in my in-box on Monday morning (GMT). In this report will be:
A. The number of Refund Requests Made to Date (number of Tickets)
B. The number of Refund Requests Completed and Ready for Payment (within + or - 10% of claimants expected amount)
C, The number of Refund Requests Completed but not Ready for Payment (outside of the 10% parameters)
D. The number of New Refund Requests not previously received from the week before
E. Anything else worthy of reporting
If it appears that our self-imposed deadline will be missed, appropriate action will be taken in a timely manner to reduce the probability of any delays.
PLEASE NOTE: Refunds requests need to be posted in a support ticket at http://gniforum.com/gnirefund/ ONLY. Refund requests send to ANY of the know email addresses can not be honored and will be deleted upon receiving.
2. Refunds for the Deposit Repurchase Program
Refunds for those who submitted funds for the purchase of other member's deposits will be refunded by weeks end. If you have not received your refund by Friday afternoon close of business (COB - GMT), please send me an email (goldnuggetinvest@gmail.com). Please be very specific when making this request; should include ALL transaction information, the deposit information of the GNI User which you were preparing to purchase and any other relevant information you feel will help facilitate my issuing of your refund. Your assistance helping me with this It would really be appreciated.
3. The 'New' GNI
I am continuing putting together the New GNI, while remaining cognizant of the refund program. As you know, we cannot combine the two programs. We must, however, keep our traders busy or we jeopardize giving up their unused capacity to other Arbitrage Programs. More on this shortly.
4. Cyber-Smear Campaign
It has come to my attention that a comprehensive smear campaign has been launched against GNI, targeting Todd for he chose not to disguise his personal details. Much of the past 11 years of his on-line history is now an open book. Needless to say, none of it is presented in a positive fashion. He is receiving a constant barrage of life-threatening, evil, disgusting emails involving bodily functions and other horrendous acts.
These threats have resulted from the current state of affairs of GNI.
I am here to support and affirm some very important facts, concerning Todd and his role in GNI.
First, was Todd a member? Yes, of course he was; one of our very first. Several months ago, before our troubles, he sold his membership back to the company for a bit less than 33cents on the dollar.
The reason for this was to avoid any potential for a conflict of interest. He could not, nor could I rely on his objectivity so long as he had funds in the program
Second, did Todd receive referral commissions? Yes, for certain, until the end of Spring last year. He also offered to split the commission with his down-line, 1/2 back to the purchaser, the other to charity (on the larger amounts). None of which he was asked to do nor am I aware of any other offers made by any of our up-line referrers.
In the beginning of summer his referral base was starting to grow. It was obvious, many subscribed under him hoping to receive preferential treatment, which is not an unreasonable expectation, but not in the best interest of the program nor the non-referral customer base. Todd asked, and received my authority to split his commission amongst the staff members of GNI. He was permitted to place his user id for new members coming into the program without a sponsor, as the up-line referrer. In a couple instances, the member did not want any sponsor receiving commission. In this case, Todd removed his user ID and the commission restored to the general fund. This was a great motivating tool and cost the members and the principals zero.
In this on-going smear campaign it is alleged Todd has stolen funds from the members for his own benefit.
I am here to proclaim, Todd does not now, nor has he ever had access to GNI Payment Processor accounts (PP), E-Currency, Bank Wire, Bank, Deposit, Receipts or Withdraws of Members, Trader, Principal or anyone's funds other than his own. Even if Todd wanted to, he couldn't gain access to any funds that were not otherwise his and his alone.
Unfortunately, the same cannot be said of far too many of our trusted members who engaged in serious referral abuse or other fraudsters which continue to 'hang around' the GNI site, waiting to steal money, resources and most of all steal the energy out of someone so important to the success of the program.
Todd has been an asset to this program and to all of our member base as well as to me and the principals of GNI.
Those of you intending to hurt Todd, consider yourselves having been successful. Records on the internet become permanent. You have placed him in danger without knowing the facts!
Thank you,
Robert
GoldNuggetInvest Newsletter - Refund Requests Clarification - March 15th, 2010
Greetings GNI Customers:
This mini-update will attempt to address some of the current issues and concerns you may have about the refund requests....
I have been working with Debbie to try to set this up properly over the last few days and now think its getting close to being correct.
1. The link that was specified in the previous newsletter to access the Ticket System for Refunds was incorrect. The correct link is....
http://gniforum.com/gnirefund/
Be sure to include all the characters
2. If you have not cut and paste a fully completed Application for Refund, one will be provided to you when you receive an automated (system generated) response to your initial opening request. If you have already completed, by means of Cut & Paste, a Refund Request Form, please edit out the form contained within the ticket.
Included in this response which is forwarded to your email will be your new ticket number. This ticket number stays with you throughout the duration of your claim.
3. Be clear with all your responses. The clearer you are the faster this will go.
4. These refunds have to be confirmed, verified and then approved. This is a tedious, brain-draining process so please have some patience.
5. The first several hundred (somewhere between seven hundred and eight hundred) refund requests, due to a programming glitch, did not send, in the automated response, your ticket number. Do not be concerned, we received it, and a number was assigned to it....Please do not send a follow up ticket asking what your ticket number is. If you need to add additional supporting information, go to the forum and send a PM to GNIChyk who will ask your name and other confidential information you supplied in the refund application. She will then give you your ticket number.
6. If you do not understand some aspect of the process, go to the forum where it is discussed in detail FIRST. If the issue you ask is easily and readily available on the forum and it is clear you have not attempted to find this information out for yourself....there will be no choice but to return your ticket....This is out of consideration for your fellow member. If it's not clear or if several members seem to be having a similar issue, a mini-newsletter will be forwarded to the community, such as this.
Thank you for your support....
GoldNuggetInvest Newsletter March 12th. 2010
Greetings to the GNI Community:
Topics to be Addressed in this Newsletter
1. Robert and the GNI Response(s) to the Forum Community
2. Timelines for the Liquidation of GNI
3. New Dedicated Refund Support System.
4. Request for Refund Form and Guidelines
5. What will the Future Hold for GNI
1. Response(s) to Comments Made in the Forum
Consistent with our announcement earlier this week, GNI has closed its operations and a call to our traders has been made advising them to send forward the funds required to ensure our members who are not in profit, will be made whole.
I have taken some time to go through the forum to not only read, but digest some of your comments made to me, at me or about me (and the GNI Team).
Some of what was written, given the level of effort, work, time and resources; taken from me, my family and my life, with the often stated intent to help those people try to have a better life, has been EXTREMELY difficult to endure.
I have been called a liar, cheater, thief and many, many other fine names because the program cannot sustain itself in its current state.
Our restructuring came too little, too late. The reason for this was simple. I wanted, to overcome the adversity without having to modify the program. We were led to believe the funds which were frozen, would be released. Had they at any time up until the end of December, we wouldn't be having this discussion now.
I gave all of you, EVERY SINGLE member in this project, 100% of my best effort. It wasn't enough; and because it wasn't, we are considered by many of you, who have made thousands, tens of thousands of dollars; to be disingenuous, evil, liars, and whatever else you feel like lobbing at me.
Instead of counting your blessings and your good fortune, you have become spiteful.
I would appreciate for a moment if we could reflect on something that has been the motivating factor that drove GNI to its one-time pre-eminence of the on-line investing community. What I am referring to was the call to arms we made during the Holiday Season.
Since early fall, we made very clear the need for the GNI Family to share some of their good fortune with two charities selected on the basis of need and impact we could make as a cohesive group. In December, when it was time, we made it easy for all to participate. It was our opportunity to proclaim our concern, not just for financial gain but to help those who were unable to help themselves, orphaned children in Africa, or those stricken with AIDS.
The total turnout, 4.5% !!!
For those of you who struggle with math, it means, despite our requests for your help, 5 out of 100 GNI participants stepped up to help others. Ninety-five out of one hundred (95 out of 100), did NOT. Some had your own causes that you supported, but the majority of you DID NOT.
Given these statistics, I am compelled to ask those of you who feel I am less than honest, have you taken a moment to look at yourself? When I asked for your help, not for myself, but to help keep children from starving to death, where were you? What have you done for your fellow man?
2. Time-Frame for the Liquidation of Goldnuggetinvest.com
To conclude GNI in a manner that is both timely, but will allow for those members who are out of contact, or otherwise unable to establish communications with any GNI associate, Applications for Refunds will be accepted until May 15th, 2010. We'll start accepting applications as from Monday, March 15th, 08:00 GMT. Before that date and time the given link for the refund support desk will be disabled.
We believe we can reconcile and refund the bulk of the undisputed refund requests within thirty days after the May 15th, 2010 deadline. Much will depend on the GNI member to properly complete the refund application in an organized and honorable fashion. Let it be known, any member who tries to obtain funds in a manner that is fraudulent, will have his or her refund placed at the end of the stack and will be gone through when all else is completed. An evaluation will be conducted and a decision to return any funds will be made at that time.
It is our intent to refund all of those customers entitled to receive one. Please DO NOT jeopardize our obligation and your right to receive funds you are entitled to.
3. New Support Desk Dedicated to Refunds Only
To better stream-line communications between the membership (who is entitled to a refund) and GNI, a new Support System will be installed on the same server which hosts the Forum.
(VERY IMPORTANT). Unlike the previous support desk, each member will have one ticket ONLY which will support their Claim for Refund throughout the process. This support system is for REFUNDS ONLY. It is not to be used to express an opinion whether you like or dislike the program, staff, the various PPs or anything other than your refund. The help desk will have the capability to transfer information including your Request for Refund which is contained at the end of this Newsletter, to and from the appropriate staff assisting you with the refund. Any extraneous comments, requests or admonishments will be discarded without comment.
You can find the Refund Support Desk at:
http://gniforum/gnirefund
4. Request For Refund Claim Form
Following this Newsletter you will find the Application for Refund of Principal from GNI. Please complete this form as follows:
1. GNI Username/acct # This is to be filled out by GNI User (Claimant)
2. Date GNI member joined the program: This is to be filled out by GNI User (Claimant)
3. Total Amount Expected from Refund: Claimant is to total all PP transfer of funds made into GNI. From this total, subtract the total amount of PP transfer made from GNI to User's PP account. If the difference is a positive number, enter it here. If the amount received back from GNI exceeds the amount transferred to GNI, you do not have a valid claim and no further action is necessary.
4. Requested By: Claimant needs to Place their name in this field.
5. a-c List Refund Payment Processor & Account # in Order of Preference: Self Explanatory
6. a-f Total of ALL Transfers INTO your GNI Account From Each PP / E-Currency Used: Claimant shall total all funds transfers made from each PP and place it here
7. a-f Total of ALL Withdrawals/Cashouts From your GNI Account INTO Each PP Used: Claimant shall total all funds transfers made from GNI back to each PP and place the total here
TOTAL_____________________________ TOTAL____________________
Add 6a - f and put the total here. Add 7a - f and put the total here
PLEASE LIST EACH TRANSACTION REPRESENTED IN YOUR TOTALS ABOVE, IN THE FOLLOWING MANNER....
(List according to Payment Processor)
1. Payment Processor 2. Date 3. Amount 4. Transaction/Batch ID#
This is self explanatory.
Assuming there are no significant discrepancies, those funds in which there is an agreement will be:
1. Verified
2. Re-checked and confirmed
3. Submitted for payment
If there is a disparity between what claimant thinks is owed and what GNI think is owed, it will not hold up the payment of funds. For example, claimant submits a Request for a Refund totaling $35.00, GNI completes their review but finds that claimant is owed $25.00, not the 35.00 as submitted. GNI would authorize payment on the undisputed 25.00. Upon conclusion of all payouts, GNI would then take a further review, with claimant and attempt to resolve the matter. It is not anticipated there will be any open claims after concluding this liquidation.
5. GNI's Future
It is now often asked, what will become of GNI? At this juncture, all that is important to know is there will be a GNI. It will consist of a group of clients who know honesty when they see it and integrity when they feel it and an opportunity when they smell it. Not often does a situation like this come along. Only serious investors welcome.
Robert and Team
***
Application Form (Please copy and paste the entire form into your request ticket at http://gniforum/gnirefund):
Application For Refund of Principal from Goldnuggetinvest.com
1. GNI Username/acct #__________________________
2. Date GNI member joined the program______________
3. Total Amount Expected from Refund_______________
4. Requested By_________________________________
5. List in Order of Preference--Payment Processor & Account # to send Refund
A. PP________________________Acct. #______________________
B. PP________________________Acct. #______________________
C. PP________________________Acct. #______________________
6. Total of ALL Transfers INTO your GNI Account 7. Total of ALL Withdrawals/Cashouts From
From Each PP / E-Currency Used your GNI Account INTO Each PP Used
6a. StrictPay______________________ 7a. StrictPay_______________
6b. Solid Trust Pay_________________ 7b. Solid Trust Pay__________
6c. Liberty Reserve_________________ 7c. Liberty Reserve__________
6d. PerfectMoney__________________ 7d. PerfectMoney___________
6e. GDP_________________________ 7e. GDP__________________
6f. Bank Wire______________________ 7f. Other__________________
TOTAL___________________________ TOTAL____________________
PLEASE LIST EACH TRANSACTION REPRESENTED IN YOUR TOTALS ABOVE, IN THE FOLLOWING MANNER....
(List according to Payment Processor)
1. Payment Processor 2. Date 3. Amount 4. Transaction/Batch ID#
**********************************************GNI USE ONLY******************************************
Amount Expected From Member.....Verified by_______________________________
Amount Expected From Member......Confirmed by_____________________________
Detailed explanation of any discrepancies_________________________________________
__________________________________________________________________________
If amount requested by GNI Rep is less than the amount expected by claimant, is it OK to pay the undisputed portion immediately?___________________
DATE_______________TOTAL AMOUNT REQUESTED______________________
DATE____________REFUND AMOUNT____________________
TO: Payment Processor/Acct. #____________________________
StrictPay News
StrictPay Customers
After numerous customer inquiries, we are happy to announce that you can now do bank wire deposits in 8 different currencies.
If you visit the Deposit/Bank Wire page, you will see a drop down menu for the Currency field, and you are now able to choose from the following currencies:
USD - US Dollars
AUD - Australian Dollars
GBP - British Pounds
EUR - Euros
NZD - New Zealand Dollars
JPY - Japanese Yen
SGD - Singapore Dollars
HKD - Hong Kong Dollars
The currency conversion will take place at the time your request is completed, and our funding department adds the funds to your StrictPay account.
Please keep in mind that after you enter the request into the system, you will then be taken to a page with the printable wire instructions for the type of currency you have chosen.
We expect the time frames to remain the same, but there is a slight chance that some of the new currency options may take a day or two longer to process.
As always, we know you have many options to choose from, and we appreciate you choosing StrictPay as your online payment option.
Thank you
Team StrictPay
The Best Payment Solution
www.strictpay.com
GoldNuggetInvest update
Hello
In our opinion Robert is a reliable person.
We wish he 'll be back soon with GNI or another -great- Surebet Program
HBMonitor
---
In our opinion Robert is a reliable person.
We wish he 'll be back soon with GNI or another -great- Surebet Program
HBMonitor
---
To the Loyal Members of GNI:
It has been brought to my attention that many have become quite concerned of late because of the limited posting and corresponding in which I have engaged. To you, I apologize. I am taking every reasonable step to preserve the integrity of GNI, myself and my team as we face these obstacles which, frankly, are very difficult to overcome.
I wish now to address a couple of the most common and forceful objections you have made against the GNI team. That of course is the "guarantee" that is made on our website with regards to sports arbitrage (trading). Arbitrage trading, is in of itself, foolproof. I stand by this! What is not foolproof is current, past and future market conditions. These include things such as the political environment, natural disasters, current events, global trade and recession, regulatory interference and so forth.
Those who dislike us will never accept us for anything but a PONZI. Got news for them: We're not a PONZI! They say that we will have an end some time soon.... I have very pragmatic news for everyone: At some point in time, there isn't a business venture that will, at some point, end. Whether its this year, next year, one hundred years or a thousand, EVERYTHING has an ending. We just happen to feel ours is not yet there!
Equally so, If I am anything, I am honest; so I have to acknowledge, our backs are against the wall. That which has hurt us the most is:
The freezing of our assets by our bank's (Yesilada) intermediary bank.
This, more than anything, has put us into the situation we are currently struggling to overcome. Market conditions are something we have no control over, could never plan for and are well beyond our control. Indeed, but for this matter in of itself, we would be continuing status quo, and all would be happy.
Many feel i have no compassion because I can't respond to each and every member's concerns or personal struggles. Rest assured, this situation we face is harder on me than all of you combined. While the project has been profitable, of late it has not! The personal assets I have put into GNI are substantial but that is not the point of this response.
I see what the naysayers are posting. I have eyes and I care, not what the neggies say, but what our members say. Those who have supported us through good and bad times. Those who are not in profit, have a special place in my heart! Some may laugh at this, those who know me best will not. They know how important all members are to me, rich or poor, whatever part of the world they may reside.
What is the point of this is? I want all of our members to recognize the level of effort put into the success (and yes, failure(s)) we have experienced over the last few years and that we are not quitting! We ARE struggling, but as much as we struggle, we ARE fighting for our customers, the employees, the principles and for the respect we feel we deserve.
Thank you,
Robert and your GNI Team
News from WaterInvestment
Feb. 26
We are happy to announce that we start accepting Strict Pay as a new payment option. Visit www.strictpay.com for more information.
HYIFund Website NOT avalaible
Dear Members,
As those who have been reading the forums are aware, we are experiencing a very heavy DDOS attack that has taken our website offline since approximately 2PM PST yesterday. The attack is still ongoing and we are working with our hosting provider, Block Dos, to mitigate the problem and get the site back online.
We are hoping to have the site back online later today, at which point all accounts will be updated, and all withdrawals processed normally. We ask for your patience while we try to resolve this matter.
Stephen
HYIFund Admin
GoldNuggetInvest Newsletter February 27th. 2010
Topics addressed in this Newsletter :
1. Charitable Giving
2. Introduction of New PP; Global Digital Pay
3. Status of Wire Transfer Capabilities
4. Summary of the New Plan / Description
5. Hardship Withdraws / Random Payments
6. Status of Payments
7. Dissolution / Deposit Repurchase Program (GNIHausfrau Saga Cont'd)
8. Summary
Greetings are Extended To Friends, Family and Associates of GNI:
We hope you all have had an opportunity to successfully withdraw from your cash balance, as payments continue to go out as per our restructuring plan introduced in January, 2010.
Many have expressed interest as to the progress we have made with the recovery of the program, given the severity of the restructure and the reduction in benefits to which all were subjected. The short and most on-point answer is that it is way too soon to tell, given the new plans have not yet kicked into affect. We will however, advise the community at large as progress is made.
1. The first installment of $11,010 was forwarded to the Charitable Organization, US2UGANDA4life on Friday, Feb. 12.
In response, we received the following:
We continue to be amazed by your organization's generosity and willingness to get on board with our vision for Uganda. I can confirm that your transfer was deposited in our account ($10,995 after deduction of $15.00 for international wire handling fee). YOU GUYS ARE AWESOME. As a small token of our appreciation and in an effort to reach out and say thanks to everyone who has participated in this gift our board members signed the attached certificate of appreciation at our most recent meeting. I have saved it as a .JPG file in case you would like to forward to a broader group and please invite everyone to log onto the site and sign up for information we want to keep them up to date and allow them to follow along with the progress at both the Orphanage and the Medical Center.
(We will post the .jpg file at our private forum.)
Again, from the bottom of our hearts, THANK YOU ALL!
http://www.us2uganda4life.org
Please take a moment to visit our website and consider partnering with us in Uganda!
2. We are pleased to announce GNI's expanded capabilities to include a new E-currency / Payment Processor (PP):
Global Digital Pay (GDP) https://www.globaldigitalpay.com/
We are confident in their capabilities to operate in a safe and reliable manner. They are a credible option!
3. Wire Transfer to and from GNI - Despite the script showing a capability, GNI is not currently accepting nor sending wire transfers for or on behalf of any of our customer base.
4. Summary Plan Description - Recap
In January - 2010, market conditions and other extraneous factors necessitated that GNI overhaul the program, thereby ensuring a fundamental return to financial health while providing a very fair return to the customer base responsible for its previous success.
In February - 2010, it was decided, to reward those investors who had been striving to reach the higher payment threshold, to modify the plan. No longer is a member's interest rate determined by any one single deposit, rather by the sum of the collective (total) sum as determined following the date that clients interest is paid or when a new deposit is received.
a. All investment instruments (those funds that enter into trade with GNI on behalf of the customer) are known as 'deposits'.
b. All deposits are made from your E-Wallet (explained below), and must be equal to or exceed 50.00 to qualify as a valid deposit.
c. No member may have, collectively, deposits exceeding $100,000 without specific permission from the program administrator or his designee.
d. Interest payments are made on a 14 times, 30 day cycle which is effected from that time funds are successfully moved from customer's e-wallet into a deposit; weekends and holidays inclusive and are paid into customer's 'cash balance.'
e. Interest is paid into customer's 'cash balance,' from which he or she may withdraw funds back to their designated Payment Processor / E-currency or can re-invest into a new 14 month deposit. Until such time that client has a cumulative total (in deposits) of less than $21,000, he or she will receive 16% per month for the cumulative total until such time that their total is equal to or exceeds $21,000.
g. Once customer's cumulative, total amount of deposits exceeds $21,000, he or she will receive the Premium interest rate of 20% for that period of time that the cumulative total remains above $21,000.
h. Should customer's cumulative total dip below $21,000, he or she's entire balance will revert back to the lesser rate of 16%.
i. Should customer want or need to cancel a cashout to an outside processor; and instead revert these proceeds to their E-wallet (and create a new deposit), he or she may do so by clicking the 'Request Cashout' located on the bottom left side of the menu then scrolling to the bottom of that page to ‘Pending Cashouts’.
There, customer will find those pending cashouts waiting to be released by Admin. Customer may click (check) the box next to those cashout(s) they wish to cancel. Having selected the appropriate cashouts they wish to cancel, a verification box will pop up necessitating user to confirm or cancel the requested action. After selecting the appropriate action, the pending cashout will then revert back to users, wallet, cash balance or remain at the status quo, the withdraw to be released by GNI admin.
j. The term of the deposit (14 months) does not change if or when customers driving interest rate changes. All terms of deposits are 14 months. Return of principal is included in the monthly payments. There will be no return of principal at the conclusion of the 14 month term.
5. Hardship Withdrawals / Random Selection
I would like to take a moment to discuss with all of you, my friends, our current philosophy as it applies to GNI's current situation, our Terms of Service and our customers.
Part of my success in life, but even more so in business, has been my personal commitment to client / customer service. Indeed, without a customer, it matters not how good of a product you may have. The point is mute!
Top quality customer service: It's a benchmark that I have always maintained before speaking with or writing to any customer or potential customer since I can remember. Never before did I think I would make the following statement. The imminent survival of GNI, the return of the program to its previous level of capitalization and assurance this will never happen again, compels me to put the program, within reason, ahead of the individual customer.
When the situation with Yesilada caused our funds to be frozen, never did I think that we would be, here in the ladder part of February, without that critical capital. We have to prepare to go the long haul without these funds. It won't be easy...
We now have a Deposit Repurchase Program in place as will be explained below. No accelerated, early or preferential payments or payouts will be made outside of this program.
6. Status of Payments - As was mentioned on the forum some time back, the possibility that all payments could not be made by months end was very real. This has turned out to be the case. We apologize for the inconvenience; we will nevertheless, continue to work towards getting everyone paid in a timely fashion.
What we can expect is to slip the payment schedule back a bit. This does NOT mean we are running, it does NOT imply we won't meet our obligations, it means we are working and pushing as hard as we can to get everyone their funds as soon as we can. Keep the faith.
7. Deposit Repurchase Program ---- VERY IMPORTANT
To accommodate those who wish to ameliorate themselves from their deposits, GNI is implementing a Principal Deposit Repurchase Program.
This program is targeted to:
1. assist those who failed to observe GNI's ongoing admonition that it is set up to be a second income,
2. help those who, when signing up with GNI, ignored the Terms of Service providing for GNI's contractual right to modify the plan(s) rate of return to ensure the integrity of the plan(s) and the welfare of the members,
3. benefit members who seek an opportunity to further maximize their returns otherwise unavailable but for this program's implementation,
4. enhance GNI's capitalization by raising additional revenue.
Before implementation of this or other similar programs, a general understanding amongst all participants within GNI needs to be adhered to.
a. There is to be No Selling of, or Purchasing of GNI deposits outside of this defined program between members, a members and non-members, two non-members or any third-party persons or entities;
b. Any sale which has been consummated will need to be 'unconsummated' (returned) and renegotiated through the program currently offered;
c. Any deposits which have changed hands, not having been done through this program, will not be honored as a valid deposit, no interest payments will be made and the principal, will be subject to forfeiture.
It's not worth risking your hard earned funds to this possibility, so please, DO NOT jeopardize the program by making poor decisions.
Details:
1. Sellers will make their interest in selling their deposit(s) known in a section of the forum which is being put together as you are reading this, up by Ingenue.
2. By participating in the forum with authority given to you by GNI, to sell your deposit, you agree to limit all activities and negotiations to the GNI forum, your private email or PM.
3. 20% will be deducted from the selling price of the deposit which serves to offset the costs associated with removing the funds from trade, re-register the deposit reflecting the new owner (transfer fees) and a surcharge which will be used to further capitalize and strengthen GNI.
4. Those who desire to increase their GNI holdings shall, after reviewing the available deposits on the forum, will contact the seller via PM or any other way that seller wishes, made known in the forum; express their wanting to enter into negotiations to purchase their available Deposit via Private Messenger (PM) private email or some other discretionary manner agreeable to both buyer and seller.
Note: Because the forum and, to a lesser degree, GNI as a whole, takes privacy issues very seriously, we cannot guarantee your privacy or any consequences (IF ANY) for unveiling any privacy you have come to expect.
5. All sales transfers or trades must be reported to Debbie by both the buyer and seller at GNISeller@gmail.com. She will inform what, if any, documentation may or may not be necessary to consummate the transfer and will instruct buyer the methodology to make payment. Payments will NOT be made through the script, they WILL be made pursuant to Debbie's instructions.
6. All sales are final, but further repurchase of any deposit is always possible.
To best explain this program, we'll use our beloved characters 'Lam' and 'GNIHausfrau' (who might I add, recovered her blond hair).
GNIHausfrau, in true character fashion, over-charged during the holidays purchasing, for herself far too many items and forgetting completely about the charities she was supposed to promote at GNI (the children of Africa thank you Hausfrau !!!).
Hausfrau then remembered hearing about some buyback program being orchestrated by GNI. Hausfrau's blond hair started spinning…."Hmmmmmggggggggzzzzzzzz…I have a better idea." she said to her hair.... "I'll sell mine on Ebay or better yet, 'Greg'sList.' I'll make a fortune!!!"
Fortunately, before she could get her blond hair in motion, she discussed this idea with her friends who rightfully explained, there was no faster way to get removed from the program than attempting to sell her deposit outside of GNI's Forum.
Off chafe her blond hair and on went her "thinking cap" deciding she would attempt to sell one of her four deposits. So, the following day, she posted on the newly set aside area of the GNI forum, the 5000.00 deposit she needed to pay for her Macy's and Nordstrom credit card bills…
Lam, being the staunch and thrifty pragmatist that he is, was ALWAYS looking to increase his his net worth, but only in a way that reflected the highest moral standards possible. He saw Hausfrau's "deposit 4 Sale," in a thread on the GNI Forum. Lam had read, then confirmed by PM, he could buy Hausfrau's $5000.00 at a significantly discounted price.
WHAT A DEAL!!! (Lam thought to himself). I can get a $5000.00 deposit for $4000. Indeed, Lam could score the "deal of a lifetime" while allowing Hausfrau to fill her pockets to overflowing with cash....$4000 right???
WRONG....declared Debbie at GNI. Because these deposits were locked into trade for 14 months, registered in the name of the Purchaser of Record in the purchaser's E-currency / PP of record, there would have to be a method to recover costs associated with these transactions.
The resources required to move these funds was more than Hausfrau could put in her Station Wagon.
Professor Poindexter determined GNI would need to include a 20% transfer fee. Whenever funds must be pulled out of trade, converted to a PP and human resources are utilized, costs are incurred. Further, Professor Poindexter explained to Hausfrau (with her "thinking cap" in the "on" position), GNI is in Restructuring Mode, this is a good opportunity for them to rebuild their program by developing a new income stream.
Hausfrau, after having received her new funds, successfully slipped off her thinking cap and slipped on her blond hair all the while was wondering to herself... "Where's the mall, this money is burning holes in my clothes?" (Story to be continued in the next newsletter where we'll introduce Hausfrau's friend, Sandi and her daughter, Holli -Dolli.)
8. Summary / Conclusion / Comments
I know those of you who have, to date, not been paid, are very disappointed, discouraged perhaps even angry. We understand this! It, however, doesn't change the facts, the current market conditions nor does it unfreeze our funds tied up at Yesilada Bank in North Cyprus. Unlike the Central Governments of the world, we don't have the ability to 'make' money with a printing press.
Many of you have asked what can you do to help us. What everyone can do is remain positive and as much as possible, supportive of the new income streams we seek to push the program forward.
Have a great weekend! We're working hard!
Robert and your GNI Support Team
NanoMoneyCorp under Massive DDOS attack
Massive DDOS attack
Dear investors!
The site is currently under enormous DDOS attack.
You may expect long time of page loading or some system faults. In fact we face that type of attacks for the first time ever. But please be patient as we are working hard to find a solution. The attack we faced is so difficult that not many of the DDOS protectors we turned to (including the one we use) are helpless.
But still the site is working and we handle all the payments in timely manner.
This attack would not affect your investments and you would not loose a penny because of it. We want to apologies for any troubles the work of our site may cause you but you have to understand that it is in our favor to fix everything as soon as possible.
Be sure that we will continue our work despite of any obstacles would appear on our way.
PanaMoney News
16 Feb 2010 21:56 - PanaMoney Starts Accepting AlertPay
A new payment method has been implemented. Our clients can consider the opportunity of using AlertPay as a payment option. See more at www.alertpay.com.
16 Feb 2010 19:27 - PanaMoney Stops Accepting V-Money
Due to the interruptions in operation of V-Money payment system we stop accepting deposits via V-Money and suggest our clients to switch their investments to any other available alternative electronic payment methods by contacting support@panamoney.net.
A new payment method has been implemented. Our clients can consider the opportunity of using AlertPay as a payment option. See more at www.alertpay.com.
16 Feb 2010 19:27 - PanaMoney Stops Accepting V-Money
Due to the interruptions in operation of V-Money payment system we stop accepting deposits via V-Money and suggest our clients to switch their investments to any other available alternative electronic payment methods by contacting support@panamoney.net.
WaterInvestment brief presentation
..Details from the Website
BRIEF OVERVIEW
WaterInvestment is a Company specialized in investing in those technology companies that create solutions for greater water efficiency or more water supply from the oceans.
WaterInvestment is the only investment fund concentrating solely on the worldwide water sector.
Managed by Jason Lee, an entrepreneur of 15 years in the water industry, our fund offers you a unique opportunity to invest in what is getting hotter nowadays.
PLANS:
10% Weekly
Minimum deposit of $/€ 15
Payment once a week on Monday
Compounding available
Principal back after 20 weeks
12% Weekly
Minimum deposit of $/€ 1,000
Payment once a week on Monday
Compounding available
Principal back after 20 weeks
14% Weekly
Minimum deposit of $/€ 10,000
Payment once a week on Monday
Compounding available
Principal back after 20 weeks
Please take a notice that the lock-in term is 20 weeks from the date of the initial deposit into your account. After the lock-in period is over the principal amount is unlocked and can be withdrawn at any time.
Payment Processors : LibertyReserve and PefectMoney
Started on : January 7th, 2010
Monitored since : February 7th , 2010
BRIEF OVERVIEW
WaterInvestment is a Company specialized in investing in those technology companies that create solutions for greater water efficiency or more water supply from the oceans.
WaterInvestment is the only investment fund concentrating solely on the worldwide water sector.
Managed by Jason Lee, an entrepreneur of 15 years in the water industry, our fund offers you a unique opportunity to invest in what is getting hotter nowadays.
PLANS:
10% Weekly
Minimum deposit of $/€ 15
Payment once a week on Monday
Compounding available
Principal back after 20 weeks
12% Weekly
Minimum deposit of $/€ 1,000
Payment once a week on Monday
Compounding available
Principal back after 20 weeks
14% Weekly
Minimum deposit of $/€ 10,000
Payment once a week on Monday
Compounding available
Principal back after 20 weeks
Please take a notice that the lock-in term is 20 weeks from the date of the initial deposit into your account. After the lock-in period is over the principal amount is unlocked and can be withdrawn at any time.
Payment Processors : LibertyReserve and PefectMoney
Started on : January 7th, 2010
Monitored since : February 7th , 2010
SrictPay Server Maintenance
StrictPay Customers
We will be conducting some site and server maintenance over the weekend.
Over the next 2-3 days you may not be able to reach the StrictPay website for various reasons.
We will be working on multiple routine maintenance issues as well as some upgrades. If you cannot reach the website, please do not worry as it will be available again soon.
As always, we thank you for choosing StrictPay as your internet payment processing solution.
Thank you
Team StrictPay
The Best Payment Solution
GoldNuggetInvest Newsletter January 29th. 2009
Issues to be addressed:
1. (new) Conversion of funds from the monthly to the Premium Plan
2. Sequence and Order of Payments to be Made Feb. 01, 2010
3. Charitable Giving - Holidays, 2009
4. Issues with StrictPay.
5. Adding of new payment processor: Global Digital Pay
Greetings Once Again Loyal Friends & Associates of GNI:
In our ongoing effort to keep all of you informed we give to you our fourth Newsletter of the Calendar year 2010. What an exciting, certainly eventful, year it is appearing to be....
1. Converting Members Deposits from the Monthly to the Premium Plan(s)
As all of you should know, I have spent a great deal of time over the last couple weeks in the forum, reading emails and as much as possible, responding to the questions and issues that many of you have. These questions range from the mundane to the unattainable, along with everything else thrown in the mix. The issue which stands out amongst all the rest is member's desires to monetize their current (and new) holdings into the premium plan which will allow them to earn the higher interest rate characteristic of the better plan.
Therefore, those customers whose aggregate total exceeds $21,000, whether it is the result of one deposit or a successive series of deposits comprised of new money, interest payments or previously rec'd referral commission, will begin receiving the higher rate on ALL deposits made after the script recognizes the deposit. The script will recognize a deposit for consideration into the higher plan following a payment of interest. While this may appear complicated, it's not.
I will give a couple of examples:
Example A - Customer Lam
Customer Lam has four active deposits; three in the monthly plan (a deposit for $5000, one for $10,000 and one for $15,000) and one in the premium plan ($21,000). In Feb, Lam receives 16% on his three deposits which did not, individually, exceed $21,000, but will (the higher 20% interest) on his single deposit for $21,000.
As a result of our recent decision, beginning in March, Lam will receive, because his deposits, collectively exceeded 21k, the higher rate of interest on all his deposits and on any subsequent deposits including interest payments until his 14 months has expired on his 21K deposit which would bring his cumulative total back under 21k, reducing his remaining deposits to the lower 16% for the remainder of his active deposits, unless he added to his account bringing it back up over the $21,000 mark.
Example B - Hausfrau
Hausfrau isn't as financially savvy as Lam but has nevertheless, three deposits and wants to make a new one. Her current deposits are each $5000 with interest being awarded on Feb. 17th, 18th and 19th - collectively totaling $15,000; she has not added her new deposit (after having found lots of nickels, dimes and quarters in the laundry) of another $5000 because she's blond and forgot to do this (she was working on her taxes she forgot to do over the last 3 years, instead). In February, Hausfrau will earn 16% on each of her three $5000 deposits; ($800 on the 16th, again on the 17th and finally $800 on the 18th - 30 days after the recorded date of the deposit).
GNI Hausfrau now has $17,400 in her GNI account (3x $5000 principal + 3x $800 interest). All of these funds continue to earn at the 16% rate. GNI Hausfrau looses her blond hair and remembers to deposit her nickels and dimes with her favorite PP, $5000 with SP who successfully adds this to her GNI account. Hausfrau would begin earning 20% on this deposit. She would not earn 20% on her other deposits because the script, as previously stated will not recognize a deposit for consideration into the higher plan until AFTER the next interest is paid.
GNI Hausfrau's three $5000 deposits would begin to start earning the higher rate of interest as soon as the interest is awarded on the 15th, 16th and 17th.
All subsequent deposits would earn at the higher rate (20%) as well, until the deposits began to expire (following the 14th month / cycle). Once the aggregate total amount of deposits fell below $21,000, she would then earn the lower rate of returns.
NOTE: the resemblance of these examples to any known GNI staff person is purely coincidental :)
We are currently implementing this new feature and as from mid next week new deposits (incl. reinvestments of interest) will automatically added to the 20% plan, if the total deposits equals or exceeds $21K
2. Schedule for Payment Requests and Payments for February, 2010
While it had originally been our intention to pay members on a first-come, first-serve basis; this is seemingly unfair to many members while lending itself to the very real possibility of a server overload / crash and less than desirable ramifications including the inability to get anyone paid; a distraction we neither want or need.
Therefore, we have decided to modify the original plan and in its place provide the means and method to select the particular GNI payee based on a random selection of GNI account IDs.
We will be using a random number generator to select the payment date of your interest payment.
A random number generator is a computational algorithm tasked with generating a group or sequence of characters lacking any discernable pattern.
In other words, you will be paid at some point between the 8th and 28th of February. When you make your withdraw request has NO impact nor will it influence in any way when you will actually receive your funds.
The procedure to withdraw your funds is no different than it was prior to the reorganization, therefore no explanation is warranted in this Newsletter.
3. Final Totals for the Charitable Recipients - 2009
Uganda4Life
$43,158.48 with 387 donations
Kids4Life
(some additional due diligence is being conducted prior to the release of funds)
A couple comments are appropriate as some of our client base truly stepped up in support of the effort these charities and their participants give trying to help those persons who are least able to help themselves, orphaned and / or sick children.
a. GNI has roughly 11,000 funded accounts.
b. A total of 971 separate donations were made.
c. Assuming no member made more than one donation (which is patently erroneous, every member that I am aware of made multiple donations to both charities), roughly 8.8% (call it 9%) of our customer base contributed to the survival of children in parts of the world that are subjected to conditions we couldn't even pretend to fathom.
To those 9% who sought to help the helpless by donating we embrace you and your efforts; are proud to help you achieve some of your monetary goals you have set for yourselves prior to joining GNI.
To the 91% of the GNI membership who chose NOT to participate, we are confident you have found a charitable organization better suited to your tastes and interests. We, likewise, are proud to help you achieve your monetary goals you have established before coming to our project.
Consistent with our reorganization plan which, out of necessity demands the program is restored to its previous financial strength, a decision encumbered on monetary health of the program, fairness to the customer base, the intent of the donors and the needs of the charities was reached to ascertain the most practical way to distribute the funds to these fine causes.
Uganda4Life will be receiving 4 payments of equal amounts spread over four months beginning the first week of February and concluding the first week of May, 2010; predicated by the total amount reflected above.
These payments will be made to the account of their choice as determined by the appropriate person with authority to make this decision. All transfer information will be made available to those individuals who have a vested interest in either the payment process or that charity in particular.
4. Issues Currently Affecting StrictPay
The following update has been provided by Strictpay to and for its clients:
Customers
Our support staffs have been contacted numerous times asking if we are having "money problems" or "cash flow issues". We are not having any money problems at all, but we have recently had to move very large amounts of funds to different bank accounts. When moving large amounts of funds to the new bank accounts, they have put a hold on the funds for a certain time frame, and this has caused us major delays as these holds can last 15 to 20 business days. We thought it would be best to send an update to all customers, even though it will be lengthy. Please take the time to read this entire message carefully, as we believe it will answer some questions you may have.
Banks in the United States do not like doing business with any type of company that they feel are processing payments as a third party processor, or are acting like a bank in their eyes. This issue, as well as numerous other over-regulatory and intrusive U.S. banking issues, has caused problems for our contracted agents. This has become an increasingly problematic issue over the last few years as we are sure many of you know, and thus has made all U.S. dealings that much more difficult to deal with. This of course affects some aspects of our business, with the most obvious example being the ability to do ACH transactions for our U.S. customers.
These U.S. related issues were why we recently made one of the banks we have been dealing with for a couple of years a public option to withdraw and deposit funds for our customers. We thought this would be a rather quick solution, but very soon realized that they could not handle the mass volume of daily transactions that our customers complete within the time frames that we have promised in the past. We also had some customers tell us that their bank wire instructions are far too complicated. This issue caused many of the wires to be completed incorrectly by some customers or their banks, and these funds would then be sent back to the sender after a 7 to 10 day hold. These issues, as well as others, made us realize that we needed to find completely new banking options that could handle both the high volume and the processing time frames our customers had become accustomed to.
Having then changed to another bank caused us more delays, as we again had to move a very large amount of funds that were subject to their hold times. Once these funds started getting released to us, you could see that our outgoing wire time frames got much better again, and are now in the 2 to 4 business day range. These 2 to 4 business days will now be our normal time frame for bank wire withdraws. Incoming bank wires are also getting to us much quicker now with this new bank, and we have been told by many customers that the new bank wire instructions are much easier to understand as well. With the difference in time zones, and also the varying locations and banks that the funds are being sent from, a bank wire can take 1 to 5 business days to reach us. We are seeing that in most cases they will reach us within 2 business days, but we must state the time frame for bank wire deposits as 1 to 5 business days to cover all situations.
We have also recently had the first loading delays ever with our debit card platform since it was setup in June 2009. The new bank that we are sending the debit card funds from is having an issue that they need to get worked out with the receiving bank, and once they get this issue taken care of we will then start loading major funds to that account so that you can get your funds in the proper time frames once again.
Our number one objective is to make sure that your money is safe, and this is why we will take very calculated steps before we offer any new funding or withdraw options. We have many things that we are working on behind the scenes to make sure we can once again offer many different funding and withdraw options, but these things will likely take many months to complete. We have other banks that we have held accounts with for years, and we are also looking into what services they may offer us in regards to more of a public account with them. Keeping our customers funds and information secure and private is always of the utmost importance for us.
We are also working on a short term solution to allow check withdraws again, and we hope to have more information on this issue in the coming weeks. Unfortunately the fees may be slightly higher, and there will be some limits in place, but we feel it is important to at least give some of our customers an option to withdraw by check until we have a long term solution in place.
We know these delays have been frustrating to all of you, and they have been to us as well. As a way of saying thank you for continuing to choose StrictPay as your payment option through these trying times, we will be lowering the receiving fee on funds transferred from 2% to 1.5% until 2-28-2010. We appreciate your understanding and patience during this trying time, and we promise to continue to work hard to find long term options of deposit and withdraw that will continue to make us the best payment option available today.
Team StrictPay
There have been many questions being asked on behalf of Strictpay.
5. Global Digital Pay
Given the persistent and on-going challenges that seem to be an on-going battle and on request of many members, we have decided to introduce a new PP called Global Digital Pay. They are similar to LR in price and fees (reasonable) but have chosen to respect common laws and decency.
We encourage you to check them out and consider using this in your future on-line business transactions: https://www.globaldigitalpay.com
The Global Digital Pay payment interface will be implement during the course of next week.
Any feedback would be appreciated!
With best regards,
Robert and your GNI Team
1. (new) Conversion of funds from the monthly to the Premium Plan
2. Sequence and Order of Payments to be Made Feb. 01, 2010
3. Charitable Giving - Holidays, 2009
4. Issues with StrictPay.
5. Adding of new payment processor: Global Digital Pay
Greetings Once Again Loyal Friends & Associates of GNI:
In our ongoing effort to keep all of you informed we give to you our fourth Newsletter of the Calendar year 2010. What an exciting, certainly eventful, year it is appearing to be....
1. Converting Members Deposits from the Monthly to the Premium Plan(s)
As all of you should know, I have spent a great deal of time over the last couple weeks in the forum, reading emails and as much as possible, responding to the questions and issues that many of you have. These questions range from the mundane to the unattainable, along with everything else thrown in the mix. The issue which stands out amongst all the rest is member's desires to monetize their current (and new) holdings into the premium plan which will allow them to earn the higher interest rate characteristic of the better plan.
Therefore, those customers whose aggregate total exceeds $21,000, whether it is the result of one deposit or a successive series of deposits comprised of new money, interest payments or previously rec'd referral commission, will begin receiving the higher rate on ALL deposits made after the script recognizes the deposit. The script will recognize a deposit for consideration into the higher plan following a payment of interest. While this may appear complicated, it's not.
I will give a couple of examples:
Example A - Customer Lam
Customer Lam has four active deposits; three in the monthly plan (a deposit for $5000, one for $10,000 and one for $15,000) and one in the premium plan ($21,000). In Feb, Lam receives 16% on his three deposits which did not, individually, exceed $21,000, but will (the higher 20% interest) on his single deposit for $21,000.
As a result of our recent decision, beginning in March, Lam will receive, because his deposits, collectively exceeded 21k, the higher rate of interest on all his deposits and on any subsequent deposits including interest payments until his 14 months has expired on his 21K deposit which would bring his cumulative total back under 21k, reducing his remaining deposits to the lower 16% for the remainder of his active deposits, unless he added to his account bringing it back up over the $21,000 mark.
Example B - Hausfrau
Hausfrau isn't as financially savvy as Lam but has nevertheless, three deposits and wants to make a new one. Her current deposits are each $5000 with interest being awarded on Feb. 17th, 18th and 19th - collectively totaling $15,000; she has not added her new deposit (after having found lots of nickels, dimes and quarters in the laundry) of another $5000 because she's blond and forgot to do this (she was working on her taxes she forgot to do over the last 3 years, instead). In February, Hausfrau will earn 16% on each of her three $5000 deposits; ($800 on the 16th, again on the 17th and finally $800 on the 18th - 30 days after the recorded date of the deposit).
GNI Hausfrau now has $17,400 in her GNI account (3x $5000 principal + 3x $800 interest). All of these funds continue to earn at the 16% rate. GNI Hausfrau looses her blond hair and remembers to deposit her nickels and dimes with her favorite PP, $5000 with SP who successfully adds this to her GNI account. Hausfrau would begin earning 20% on this deposit. She would not earn 20% on her other deposits because the script, as previously stated will not recognize a deposit for consideration into the higher plan until AFTER the next interest is paid.
GNI Hausfrau's three $5000 deposits would begin to start earning the higher rate of interest as soon as the interest is awarded on the 15th, 16th and 17th.
All subsequent deposits would earn at the higher rate (20%) as well, until the deposits began to expire (following the 14th month / cycle). Once the aggregate total amount of deposits fell below $21,000, she would then earn the lower rate of returns.
NOTE: the resemblance of these examples to any known GNI staff person is purely coincidental :)
We are currently implementing this new feature and as from mid next week new deposits (incl. reinvestments of interest) will automatically added to the 20% plan, if the total deposits equals or exceeds $21K
2. Schedule for Payment Requests and Payments for February, 2010
While it had originally been our intention to pay members on a first-come, first-serve basis; this is seemingly unfair to many members while lending itself to the very real possibility of a server overload / crash and less than desirable ramifications including the inability to get anyone paid; a distraction we neither want or need.
Therefore, we have decided to modify the original plan and in its place provide the means and method to select the particular GNI payee based on a random selection of GNI account IDs.
We will be using a random number generator to select the payment date of your interest payment.
A random number generator is a computational algorithm tasked with generating a group or sequence of characters lacking any discernable pattern.
In other words, you will be paid at some point between the 8th and 28th of February. When you make your withdraw request has NO impact nor will it influence in any way when you will actually receive your funds.
The procedure to withdraw your funds is no different than it was prior to the reorganization, therefore no explanation is warranted in this Newsletter.
3. Final Totals for the Charitable Recipients - 2009
Uganda4Life
$43,158.48 with 387 donations
Kids4Life
(some additional due diligence is being conducted prior to the release of funds)
A couple comments are appropriate as some of our client base truly stepped up in support of the effort these charities and their participants give trying to help those persons who are least able to help themselves, orphaned and / or sick children.
a. GNI has roughly 11,000 funded accounts.
b. A total of 971 separate donations were made.
c. Assuming no member made more than one donation (which is patently erroneous, every member that I am aware of made multiple donations to both charities), roughly 8.8% (call it 9%) of our customer base contributed to the survival of children in parts of the world that are subjected to conditions we couldn't even pretend to fathom.
To those 9% who sought to help the helpless by donating we embrace you and your efforts; are proud to help you achieve some of your monetary goals you have set for yourselves prior to joining GNI.
To the 91% of the GNI membership who chose NOT to participate, we are confident you have found a charitable organization better suited to your tastes and interests. We, likewise, are proud to help you achieve your monetary goals you have established before coming to our project.
Consistent with our reorganization plan which, out of necessity demands the program is restored to its previous financial strength, a decision encumbered on monetary health of the program, fairness to the customer base, the intent of the donors and the needs of the charities was reached to ascertain the most practical way to distribute the funds to these fine causes.
Uganda4Life will be receiving 4 payments of equal amounts spread over four months beginning the first week of February and concluding the first week of May, 2010; predicated by the total amount reflected above.
These payments will be made to the account of their choice as determined by the appropriate person with authority to make this decision. All transfer information will be made available to those individuals who have a vested interest in either the payment process or that charity in particular.
4. Issues Currently Affecting StrictPay
The following update has been provided by Strictpay to and for its clients:
Customers
Our support staffs have been contacted numerous times asking if we are having "money problems" or "cash flow issues". We are not having any money problems at all, but we have recently had to move very large amounts of funds to different bank accounts. When moving large amounts of funds to the new bank accounts, they have put a hold on the funds for a certain time frame, and this has caused us major delays as these holds can last 15 to 20 business days. We thought it would be best to send an update to all customers, even though it will be lengthy. Please take the time to read this entire message carefully, as we believe it will answer some questions you may have.
Banks in the United States do not like doing business with any type of company that they feel are processing payments as a third party processor, or are acting like a bank in their eyes. This issue, as well as numerous other over-regulatory and intrusive U.S. banking issues, has caused problems for our contracted agents. This has become an increasingly problematic issue over the last few years as we are sure many of you know, and thus has made all U.S. dealings that much more difficult to deal with. This of course affects some aspects of our business, with the most obvious example being the ability to do ACH transactions for our U.S. customers.
These U.S. related issues were why we recently made one of the banks we have been dealing with for a couple of years a public option to withdraw and deposit funds for our customers. We thought this would be a rather quick solution, but very soon realized that they could not handle the mass volume of daily transactions that our customers complete within the time frames that we have promised in the past. We also had some customers tell us that their bank wire instructions are far too complicated. This issue caused many of the wires to be completed incorrectly by some customers or their banks, and these funds would then be sent back to the sender after a 7 to 10 day hold. These issues, as well as others, made us realize that we needed to find completely new banking options that could handle both the high volume and the processing time frames our customers had become accustomed to.
Having then changed to another bank caused us more delays, as we again had to move a very large amount of funds that were subject to their hold times. Once these funds started getting released to us, you could see that our outgoing wire time frames got much better again, and are now in the 2 to 4 business day range. These 2 to 4 business days will now be our normal time frame for bank wire withdraws. Incoming bank wires are also getting to us much quicker now with this new bank, and we have been told by many customers that the new bank wire instructions are much easier to understand as well. With the difference in time zones, and also the varying locations and banks that the funds are being sent from, a bank wire can take 1 to 5 business days to reach us. We are seeing that in most cases they will reach us within 2 business days, but we must state the time frame for bank wire deposits as 1 to 5 business days to cover all situations.
We have also recently had the first loading delays ever with our debit card platform since it was setup in June 2009. The new bank that we are sending the debit card funds from is having an issue that they need to get worked out with the receiving bank, and once they get this issue taken care of we will then start loading major funds to that account so that you can get your funds in the proper time frames once again.
Our number one objective is to make sure that your money is safe, and this is why we will take very calculated steps before we offer any new funding or withdraw options. We have many things that we are working on behind the scenes to make sure we can once again offer many different funding and withdraw options, but these things will likely take many months to complete. We have other banks that we have held accounts with for years, and we are also looking into what services they may offer us in regards to more of a public account with them. Keeping our customers funds and information secure and private is always of the utmost importance for us.
We are also working on a short term solution to allow check withdraws again, and we hope to have more information on this issue in the coming weeks. Unfortunately the fees may be slightly higher, and there will be some limits in place, but we feel it is important to at least give some of our customers an option to withdraw by check until we have a long term solution in place.
We know these delays have been frustrating to all of you, and they have been to us as well. As a way of saying thank you for continuing to choose StrictPay as your payment option through these trying times, we will be lowering the receiving fee on funds transferred from 2% to 1.5% until 2-28-2010. We appreciate your understanding and patience during this trying time, and we promise to continue to work hard to find long term options of deposit and withdraw that will continue to make us the best payment option available today.
Team StrictPay
There have been many questions being asked on behalf of Strictpay.
5. Global Digital Pay
Given the persistent and on-going challenges that seem to be an on-going battle and on request of many members, we have decided to introduce a new PP called Global Digital Pay. They are similar to LR in price and fees (reasonable) but have chosen to respect common laws and decency.
We encourage you to check them out and consider using this in your future on-line business transactions: https://www.globaldigitalpay.com
The Global Digital Pay payment interface will be implement during the course of next week.
Any feedback would be appreciated!
With best regards,
Robert and your GNI Team
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