GottaLottaNonsense

Looks like I've made a mistake on my loss here. It's alot more than I reckoned. While I'm not at all happy, it's part of the risks being involved in this industry. I'd just write it off as a loss here. However this latest update simply takes the cake.

Thursday, 3-2 - Refund Update: We would like to offer some additional thoughts:
1. Refunds are being given based on the upgrades in our program. This means, if you have already been paid 25% of your upgrade in our monthly payout, we will be refunding you another 25%, not 50% over what you have already been paid.
2. We are refunding 50% for now. IF, we have money left over we will refund another percentage. Additionally, IF we are able to get any of our StormPay funds, we will offer a third round of refunds.
3. We have two choices in doing these refunds; 1) refund paypal and egold users 100% each and not stormpay users, or 2) spread the loss so that everyone gets paid. No matter which of the two options we choose, some are not going to be happy which leaves us in a 'no win' situation. We have chosen to spread the stormpay loss to not further 'pick' on those who have already lost to stormpay.
4. If you, our members, will give us the opportunity, we are trying to create another site/program to help you still make money surfing. So, this change could be temporary; but, we have been advised that we cannot continue until this additional funding is in place.
5. We do ask for your understanding in this matter as it is out of our control. We are doing the best we can given our circumstances.

I understand Christian's point of view of trying to be fair to everyone, the SP upgraders and the non-SP upgraders but refunding all involved is silly.

I've never kept up to date with the entire SP fiasco since I hardly ever used it. For starters, no one knows for certain what is going to happen with all the SP funds. All we know is that SP is now under investigation, and quite rightly so. So let's just for argument's sake say that after all the investigations are over, all SP upgrades with GLH get eventually refunded to their rightful owners. Wouldn't the members who upgraded by SP get more in return? With everything's that's transpired, I wouldn't be surprised if that was the final resolution.

Let's not forget in the month of Feb, members who upgraded via SP were given the option to withdraw via other pay processors. That in my opinion was already a crucial mistake. Looks like another mistake is in the making.

Just for the record, I'm not against the members who used SP. I can take my losses like a man, but there are considerable loopholes with the proposed plan. Looks like a plan proposed hastily is a plan that's doomed to backfire.

A proposed solution would be to keep with the original plan and refund accordingly to other upgrades other than the SP upgrades. Keep the funds originally to be refunded via SP and put them in an escrow account, like what EPS has done (or invest these funds productively). When a resolution occurs with SP, then decide what to do with these funds accordingly. That, to me, should be the fairest result, although not the popular one.

My faith in Christian doing the right thing has gone down considerably. His heart is in the right place, but I question the mind. What looks like gold has very quickly turned to fool's gold. I don't even think I would join their new site. I fail to see how this one can rise from the ashes, with such dubious decision making.