Will ePassporte pay out ? - GoFuckYourself.com

AdultKing · 10-18-2010, 06:29 PM

We have all seen payment processors fold and give many re-assurances of a payout that never eventuates. ePassporte being a major p2p system has now also folded and many of the events to date bear the hallmarks of history repeating itself.

Who thinks ePassporte will pay out, or are these emails from them holding out false hope while they clear the decks ?

nikki99 · 10-18-2010, 06:47 PM

I dont think so

AdultKing · 10-18-2010, 06:48 PM

Interesting to see a few skeptics ;)

richart3 · 10-18-2010, 06:50 PM

will payout

PornMD · 10-18-2010, 08:49 PM

Not looking too good...their last message is basically a "stop pestering us/the scum behind us". Chris Mallick who has come here in the past hasn't showed his face here at all through this whole debacle. Just reeeeeally not looking good. I hope for the sake of people who still have money tied up there that they'll do the right thing, but my guess is you all just got fucked.

harvey · 10-18-2010, 08:52 PM

Quote:

Originally Posted by AdultKing

We have all seen payment processors fold and give many re-assurances of a payout that never eventuates. ePassporte being a major p2p system has now also folded and many of the events to date bear the hallmarks of history repeating itself.

Who thinks ePassporte will pay out, or are these emails from them holding out false hope while they clear the decks ?

will76 · 10-18-2010, 08:55 PM

i dont see the option for:

LOL are fucking serious, no way in hell.

AdultKing · 10-18-2010, 09:53 PM

The way I see things is this.

For ePassporte to be able to pay out everyone that is owed money then they would have needed more than 100% of what is owed in the bank at the time they pulled the plug.

Let's say they have to pay out $50 million as an example. On the day they closed their doors they would have needed in excess of $50 million available to the company on hand.

The reason for this is that they had to terminate staff, pay lawyers and accountants, cover the costs of running even a skeleton operation, plant and equipment being leased would still have to be paid, hosting still needs to be paid for etc.

However most financial services companies, Banks included never have 100% of deposits in security and cash, no bank can survive a run on accounts because the security is just not held.

It would surprise me if on the day the doors closed they had even half of the funds available to pay out every single account.

In any liquidation the secured creditors get paid first. I am sure ePassporte has plenty of them for leasing computers, office furniture, cars, etc. What ePassporte are asking us to believe is that they have the financial means to pay all the secured creditors AND pay out the wallet account holders who are effectively unsecured creditors.

Some people *may* get paid. A good delaying tactic will be to pay a few people so word gets around boards like this that some people have been paid, this will buy them more time while the process of winding up the company's affairs takes place, by which time there will be no money left to pay the rest of the wallet account holders.

The claim then will be 'oh we tried but the money ran out' or they will blame it on Visa with holding payments or something like that.

Cash · 10-19-2010, 01:57 AM

They will not pay, 100%.

Davy · 10-19-2010, 04:36 AM

Quote:

Originally Posted by AdultKing

In any liquidation the secured creditors get paid first. I am sure ePassporte has plenty of them for leasing computers, office furniture, cars,

You forgot the private jet with which this fat fuck is flying around.

Platinumpimp · 10-19-2010, 04:40 AM

Quote:

Originally Posted by Davy

You forgot the private jet with which this fat fuck is flying around.

Then you think he actually care.

seeandsee · 10-19-2010, 04:41 AM

they will pay gold para-shuts first

AdultKing · 10-19-2010, 06:39 AM

Quote:

Originally Posted by Davy

You forgot the private jet with which this fat fuck is flying around.

Private jets have been known to crash

RaiderCash_Dominik · 10-19-2010, 06:51 AM

I don't think they will payout. This just a time game.

blofer80 · 10-19-2010, 07:06 AM

Quote:

Originally Posted by AdultKing

The way I see things is this.

For ePassporte to be able to pay out everyone that is owed money then they would have needed more than 100% of what is owed in the bank at the time they pulled the plug.

Let's say they have to pay out $50 million as an example. On the day they closed their doors they would have needed in excess of $50 million available to the company on hand.

The reason for this is that they had to terminate staff, pay lawyers and accountants, cover the costs of running even a skeleton operation, plant and equipment being leased would still have to be paid, hosting still needs to be paid for etc.

However most financial services companies, Banks included never have 100% of deposits in security and cash, no bank can survive a run on accounts because the security is just not held.

It would surprise me if on the day the doors closed they had even half of the funds available to pay out every single account.

In any liquidation the secured creditors get paid first. I am sure ePassporte has plenty of them for leasing computers, office furniture, cars, etc. What ePassporte are asking us to believe is that they have the financial means to pay all the secured creditors AND pay out the wallet account holders who are effectively unsecured creditors.

Some people *may* get paid. A good delaying tactic will be to pay a few people so word gets around boards like this that some people have been paid, this will buy them more time while the process of winding up the company's affairs takes place, by which time there will be no money left to pay the rest of the wallet account holders.

The claim then will be 'oh we tried but the money ran out' or they will blame it on Visa with holding payments or something like that.

So how much expnses they had since all this happend? 1 million? its still 2% out of 50 mil.

AdultKing · 10-19-2010, 07:20 AM

Quote:

Originally Posted by blofer80

So how much expnses they had since all this happend? 1 million? its still 2% out of 50 mil.

You're missing the point, the point is how much of what is owed would they have sitting in the bank ?

I reckon they have less than half and alot of that will be siphoned off.

michael.kickass · 10-19-2010, 08:06 AM

After all this time, I'm starting to lose hope.

2intense · 10-19-2010, 08:08 AM

View Poll Results: Will ePassporte pay out ?
Yes	30	36.14%
No	53	63.86%
Voters: 83. You may not vote on this poll

10-18-2010, 06:29 PM	#1
AdultKing Raise Your Weapon Industry Role: Join Date: Jun 2003 Location: Outback Australia Posts: 15,601	Will ePassporte pay out ? We have all seen payment processors fold and give many re-assurances of a payout that never eventuates. ePassporte being a major p2p system has now also folded and many of the events to date bear the hallmarks of history repeating itself. Who thinks ePassporte will pay out, or are these emails from them holding out false hope while they clear the decks ?

10-18-2010, 06:47 PM	#2
nikki99 Supermodel Industry Role: Join Date: Nov 2004 Location: Sodoma & Gomorra Posts: 22,890	I dont think so __________________ SMC Revenue - Best Tgirl websites of the world now VR Non exclusive BIG Tranny/shemale Package for sale, full 2257 - hit me up skype: nikkimontero

10-18-2010, 06:50 PM	#4
richart3 Registered User Industry Role: Join Date: Sep 2010 Posts: 63	will payout __________________ who am I?

10-18-2010, 08:49 PM	#5
PornMD Mainstream Businessman Industry Role: Join Date: Jan 2007 Location: San Diego Posts: 9,291	Not looking too good...their last message is basically a "stop pestering us/the scum behind us". Chris Mallick who has come here in the past hasn't showed his face here at all through this whole debacle. Just reeeeeally not looking good. I hope for the sake of people who still have money tied up there that they'll do the right thing, but my guess is you all just got fucked. __________________ Want to crush it in mainstream with Facebook ads? Hit me up.

10-18-2010, 06:48 PM	#3
AdultKing Raise Your Weapon Industry Role: Join Date: Jun 2003 Location: Outback Australia Posts: 15,601	Interesting to see a few skeptics ;)

10-18-2010, 08:55 PM	#7
will76 Making $$$$ w/ ClickCash Industry Role: Join Date: May 2003 Location: USA Posts: 18,037	i dont see the option for: LOL are fucking serious, no way in hell. __________________ ICQ: 86364801 Email: will [at] innovativeassets [dot] com PROGRAM SHIT LIST - DO NOT PROMOTE (click link for gfy thread) FNCash \| Media Revenue

10-18-2010, 09:53 PM	#8
AdultKing Raise Your Weapon Industry Role: Join Date: Jun 2003 Location: Outback Australia Posts: 15,601	The way I see things is this. For ePassporte to be able to pay out everyone that is owed money then they would have needed more than 100% of what is owed in the bank at the time they pulled the plug. Let's say they have to pay out $50 million as an example. On the day they closed their doors they would have needed in excess of $50 million available to the company on hand. The reason for this is that they had to terminate staff, pay lawyers and accountants, cover the costs of running even a skeleton operation, plant and equipment being leased would still have to be paid, hosting still needs to be paid for etc. However most financial services companies, Banks included never have 100% of deposits in security and cash, no bank can survive a run on accounts because the security is just not held. It would surprise me if on the day the doors closed they had even half of the funds available to pay out every single account. In any liquidation the secured creditors get paid first. I am sure ePassporte has plenty of them for leasing computers, office furniture, cars, etc. What ePassporte are asking us to believe is that they have the financial means to pay all the secured creditors AND pay out the wallet account holders who are effectively unsecured creditors. Some people may get paid. A good delaying tactic will be to pay a few people so word gets around boards like this that some people have been paid, this will buy them more time while the process of winding up the company's affairs takes place, by which time there will be no money left to pay the rest of the wallet account holders. The claim then will be 'oh we tried but the money ran out' or they will blame it on Visa with holding payments or something like that.

10-19-2010, 01:57 AM	#9
Cash Click on my TCG signature Join Date: Feb 2002 Posts: 20,825	They will not pay, 100%. __________________ $9.95/month for 15000 GB bandwidth monthly, unlimited (sub)domains and MySQL5, PHP4/5, 500 GB disk storage! ; use any of these invitation codes: 216263692101; 408636009193; 846090586647; my ICQ 30160426!

10-19-2010, 04:41 AM	#12
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	they will pay gold para-shuts first __________________ BUY MY SIG - 50$/Year Contact here

10-19-2010, 06:51 AM	#14
RaiderCash_Dominik Confirmed User Industry Role: Join Date: Jan 2010 Posts: 1,145	I don't think they will payout. This just a time game.

10-19-2010, 08:06 AM	#17
michael.kickass Too lazy to set a custom title Join Date: Mar 2009 Posts: 11,039	After all this time, I'm starting to lose hope. __________________ NICERATIOS - $30 PPS - 50% Rev Share - 5% WM Referral - High Converting Sites! Any questions about your NICERATIOS account? Vanessa will take care of you: [email protected] Looking to expand your business in general, maybe sell your sites? Contact me: [email protected]

10-19-2010, 08:08 AM	#18
2intense Too lazy to set a custom title Industry Role: Join Date: Dec 2009 Location: Google Posts: 12,457	yes __________________ Most Affordable Firewall & Malware Protection for Linux Servers