| Subject: Re: Why No Updates from MMFC??? |
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Anonymous
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Date Posted: 12:06:30 05/13/05 Fri
In reply to:
's message, "Re: Why No Updates from MMFC???" on 14:08:44 06/14/02 Fri
>>they have always paid on time, why are you
>>complaining!!!
>
>It is not an issue of complaining. They used ti gvie
>regular updates. Now they don't. Thier members want
>to know why since it may be connected with them
>starting to fold. What is so complicated about
>understanding that??
Past News
View Latest News
January 15, 2004 - Dear Members:
We did not get paid on the European investment in December as promised. It was not activated in time. However, our "done deal" is not out the window, and we are on course now for it to start shortly, within a week. It's a new year and this field of investment becomes quite active this month. I have spent a great deal of time sorting things out with my partner and team on this placement, and altho I am disappointed by the delay we experienced the last couple months, I still think we are close to success.
I cannot possibly keep up with the volume of emails and phonecalls at this time. I am many weeks behind in most cases.
To address the most asked questions...
1) No payouts of any kind are being made to any members. All club funds are presently committed. There are no available funds period. I do expect this to change within a month.
2) I will not answer any questions to do with your loans at this time. I am planning to settle all accounts and then start the club from scratch with a simpler, safer, and more user friendly system. Please do not ask for further explanation on this. I will clearly state all the details soon enough and all members will have the choice to withdraw or stay, or some combination of both.
3) I am in touch with several good alternative investments now, however, I will not refer anyone to them at this time or give out any information about them. Please be patient on this. I am considering adding them to the club as separate options, however, I need to solve the present situation to everyone's satisfaction first.
4) Relating to point 3) somewhat, I regrettably cannot give you my opinion of the many programs many of you continuously ask me about. I simply don't have the time for it.
May this year be a good one for all of us. MMFC's 4th anniversary will be in May.
Sincerely,
James
Latest News
August 26, 2004 - Dear Members:
This update is fairly brief as there is not a lot that I am in a position to say at this time. As I am sure you have gathered, the investment that I expected would complete sometime in early August has not yet done so. Altho entirely predictable in this business, it is moving more slowly than the forecast in my last update. The reasons are primarily technical in nature and relate to an increasing number of rules particularly in the last 3 years. Whether we like it or not, compliance with these rules takes time to complete.
As to the timing of payouts, I hope to be able to nail this down more accurately in the next couple of weeks.
Please do not bombard me with enquiries at the moment as I am not able to tell you more than what is in this update. We are a small part of a much larger transaction and the requirement for absolute confidentiality is very strict. So the information available to me is limited, as it only takes a small amount of noise to shut it all down.
Sincerely,
James
May 21, 2004 - Dear Members:
The countdown has started and we can now pinpoint that the investment will complete in mid-July at the latest. I estimate that it will then take about two or three weeks to complete payments, as the funds will need to move a couple times and also some of it will be converted to e-currencies.
All is in order and on schedule, and we are most confident on this one.
I expect to be able to state clearly all details about the process of payouts and the future of the club by mid-June. Please wait for that update before asking any questions that you may have. Thank you very much for your patience and support.
Sincerely,
James
April 30, 2004 - Dear Members:
I am very happy to say that Plan B is now solid and that I am very confident that it will complete as stated in the signed agreements.
We now know for sure, that the maximum time for it to run and payout by contract is 10 weeks after we finish the stage we are in now, which should be next week. I will inform you the very moment we start the 10 week countdown. That is further away than we expected, however, the good news is that returns will be compounded during that time.
There is a possibility that we will get paid sooner, however, we cannot get a guarantee on that at this time. We do have a stated minimum that we will receive and it is enough to make sure all members are paid back at least their principal. Beyond that, it is best efforts, which are very promising, but again, not guaranteed.
Thank you for your patience, understanding, and support. We are approaching the light at the end of the tunnel.
Sincerely,
James
April 18, 2004 - Dear Members:
I am still without an exact schedule for payouts. We have, however, progressed further on Plan B and it is moving forward properly, altho slower than expected.
I will report again as soon as I have the schedule, which will be any day now.
Sincerely,
James
April 9, 2004 - Dear Members:
Altho I had expected a week ago to be able to predict accurately when we can start making payouts, I am still not able to do so. Plan B is on the edge of completion and I am hoping Tuesday or Wednesday coming to have our anticipated schedule. My best guess at this point is that payouts could start somewhere between April 22 and the 30th.
Thank you for your patience and best wishes to you all for a good Easter.
Sincerely,
James
March 21, 2004 - Dear Members:
Plan B has moved forward but not entirely as expected. There have been adjustments that had to be made to it's process, and therefore more time was needed than we had counted on. The good part is that our investment is now more secure and also more lucrative. I am confident this will complete soon and it promises to perform well enough to meet all present club obligations.
We will not be able to start making payouts before March 31st as originally planned for. We do expect by then, however, to be able to predict accurately when we can start payouts, and that should be within the first three weeks of April.
My intention is to pay back all your principal plus profit, the amount of which cannot be determined until the investment starts to payout. We do know ballpark figures and are very satisfied to wait and see what the best efforts will actually produce. Then from there we will start anew with a better and more transparent system. I will not go into any details whatsoever about payments or our future, until we have the funds in hand. At that time, I will post all the details. I cannot keep up with all the emails and phonecalls as it is now, so please just wait.
Some of you have been having difficulties logging into the website. There is now a "Login help" link posted on the website. The latest version of Microsoft Internet Explorer 6.0 browser has posed problems for some.
Sincerely,
James
February 6, 2004 - Dear Members:
We have nailed down plan B. The placement is scheduled to be operating and generating proceeds by the third week this month (February) and by the end of March, we are promised enough funds to satisfy all payouts.
It has been a very intense week for me, and I have been fully focused on this plan B placement, having very little time for anything else. By tomorrow night, or Saturday morning, I will be getting back on track communicating with those of you waiting to hear from me. Please realize that I have a few hundred emails to respond to and it will take some time.
I know all too well that the proof is in the pudding, however, I can smell it and almost taste it.
Sincerely,
James
January 29, 2004 - Dear Members:
In the last two weeks, I have pulled out of the European Investment. The funds were never at risk of loss and have been moved back to their original account. We spent about 6 months waiting for it to work. I know that I was/am dealing with the real thing on that placement, but obviously there have been problems, and we are still sorting them out. Compensation has been promised and we'll see.
Plan B is just about in place, and is looking very good. Complete details are not available just yet, but will be shortly. I am travelling in the next few days and I expect to have a full report next week.
I have said this before, meant it then, and still sincerely mean it now. I have full confidence that success is at hand soon. I have no lack of solid programs to place our funds in, as I was far from being idle during the last 6 months. The key here is having enough capital needed to participate, and on that basis, there will still be no payouts at the present time.
I do fully realize the gravity of my situation and the amount of frustration some of you are experiencing. I am working in the best interests of the whole club, and I know some of my choices have made it difficult for some of you on the individual level. I ask you please to have yet some more patience as I still expect this to be successful for all of us.
I stand by my integrity, determination, and responsibility to the membership of this club.
Sincerely,
James
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