[GLBSE] GIPPT Delisting 100% paid.

[dust]

https://bitcointalk.org/index.php?topic=60117.msg1165301#msg1165301

TL;DR  We have two options.  The first gets you paid in full on your principal in today's USD equivalent in about 3 years time. The second keeps the business going by taking a short term haircut in exchange for dividends and/or a return of capital in what should be a much shorter span of time than the first option.

Vandroiy was right again:

If I have one chunk of money, borrow another, and invest one each into "EIEIO" and "BS&T", how is it a "Pirate pass through" any more than a "Mystical mining pass through"?

EIEIO must pay >2.5% weekly for this to be profitable. That alone makes it far too suspicious to qualify as insurance.

[der_meister]

I will post an update tomorrow. 

Am I the only one who put only few % of owned funds in pirate's ship? Last 2 weeks everything is #@%^#% Hope I'm wrong.

[DeaDTerra]

We are currently working actively right now to reach a deal with both IMSAguy and HK. Right now it seems like we will have all the IMSAguy funds within a couple of days while HK still remains unclear.
//DeaDTerra

[dust]

TL;DR  We have two options.  The first gets you paid in full on your principal in today's USD equivalent in about 3 years time. The second keeps the business going by taking a short term haircut in exchange for dividends and/or a return of capital in what should be a much shorter span of time than the first option.

I will currently be suspending all interest payments and withdrawals.  
As I receive coins from the various things that I have going on I will start sending people's principal back.  I will also be purchasing coins from my personal
funds.  Interest that has been paid out will be deducted from the current principal.  The reason for this is I would like to get everyone's principal
back before anyone receives anymore interest.  I am not able to give a timeframe on the repayment as there is alot of factors that can effect it.  I know for sure it won't be
weeks or months, but more then likely in the ballpark of 3 years.  

Both imsaguy and hashking are giving 3 years as an estimate.  Will INAU step up and cover his obligations, or will everyone blame each other, wait 3 years, and buy the bonds back for a few bitcents each from impatient investors?

Note:  < 30 shares of GIPPT for trading is my only exposure to the currently failing lending/scamming cartel, so I'm picking on this thread more.

[imsaguy]

Both imsaguy and hashking are giving 3 years as an estimate.  Will INAU step up and cover his obligations, or will everyone blame each other, wait 3 years, and buy the bonds back for a few bitcents each from impatient investors?

Note:  < 30 shares of GIPPT for trading is my only exposure to the currently failing lending/scamming cartel, so I'm picking on this thread more.

I've said if things wound down, it could take up to 3 years.  The people invested in EIEIO have been supportive (albeit begrudgingly) and  opted to push forward, which means I expect things to bounce back much quicker.  To date, I've resolved 2/3 of my obligation to INAU and that's what you've been receiving over the last  week or two.  I have ongoing conversations with some parties to resolve the remaining sum here in the near future.

[P4man]

[DeaDTerra]

x-post from GBF
"I just got a very angry email threatening to drive to my home and take his/her money from me if I didn't send them. I don't take lightly to threats, and I sure as help don't every want anything to do with the person once I found out who it was. Threats are not okay on any level, This is why I didn't want to give out my ID, I have been nice to you guys, I have been fair and I have been honest. I have always done my best and I hoped that you trusted me, things have been hard but we have gotten out easier them most people look at HK, look at IMSAguy, the reason why we are not in the shitter is because I told you the whole story and we could avoid further liquidity squeeze, if you don't agree with my decisions THEN FACE ME, I am here, I am always here. I am open for disscusion please do question my decisions, do question my logic and morals, but never ever try to threaten me again.

There will be no weekly report tonight, I am no longer in the mood for it... some of the details is already in the log book, more details will be given tomorrow in the weekly report.
//DeaDTerra"
I am not sure if the person is mad about GIPPT or GBF but the same message is true, if you want something come face me don't sit and send threatening emails, come at me with a intelligent discussion instead.

[DeaDTerra]

Me and INAU are now working with some of the bigger investors in GIPPT, to reach private deals to make sure that this goes as fast and smooth as possible.
If you have several hundred GIPPT shares then please contact me and we can try to reach a private settlement
//DeaDTerra

[Mushoz]

What will happen with smaller investors? I have 19 GIPPT shares I'd like to liquidate.
Thanks

[DeaDTerra]

What will happen with smaller investors? I have 19 GIPPT shares I'd like to liquidate.
Thanks

We are working with settling in debt, if you are interested then sure but it will be hard to try to settle such a small amount in debt :8
//DeaDTerra

[Timbo925]

So are you trying to make some deals with the big investors and pay off the small once?
Have 50 shares myself and that is quite a bit of money for me  

[DeaDTerra]

So are you trying to make some deals with the big investors and pay off the small once?
Have 50 shares myself and that is quite a bit of money for me  

I am trying to settle in debt aka non liquid assets, for the bigger investors hence speeding up the payback of everyone
I understand that and I am looking out for all the investors not just the big once.
//DeaDTerra

[dust]

Bumping. Any update from ineededausername?

[vrtrasura]

Greetings,

Any updates?  This has been on my books for so long now...

Thanks-

[vrtrasura]

Do we have any recourse for the people who haven't held up their end of the insurance policy?  Seems like Terra did a good job, and paid out his portion right away.  What do we do if this drags out forever?

[DeaDTerra]

Hey guys sorry that I didn't update faster I was at the Bitcoin conference in London, I had a great time ^^
The current update is as follows we are still working with the depositors to try to solve this through a thrid party investor that can bail them out/buy the debt, but right now it's not looking that good.
We will keep working on it, and it seems like payments are starting to slowly be paid out (by HK), and IMSAGuy is going to pay propotionally.
For those people who would rather take their bet on IMSAGuy debt we are offering a trade in of GIPPT shares for IMSAGuy and HK debt, in which we offer +10% the value of the shares in return.

I can't really say much more then we are working on it and I am terribly sorry for all of this bullshit, we will keep working on it from our front and I am sure the depositors are doing the same.
//DeaDTerra

Do we have any recourse for the people who haven't held up their end of the insurance policy?  Seems like Terra did a good job, and paid out his portion right away.  What do we do if this drags out forever?

Greetings,

Any updates?  This has been on my books for so long now...

Thanks-

Bumping. Any update from ineededausername?

[dust]

It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.

By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back. 

[dust]

It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.

By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back. 

Says the guy that was offered a buyout and refused it because he'd rather bitch.

I also refused it because it would unfair to all of the other unpaid investors who have remained quiet.

Additionally, I have offered to buy a chunk of your 10k ASICMINER shares at close to market value to enable you to pay your debts.

[Bitcoin Oz]

It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.

By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back. 

Says the guy that was offered a buyout and refused it because he'd rather bitch.

I also refused it because it would unfair to all of the other unpaid investors who have remained quiet.

Additionally, I have offered to buy a chunk of your 10k ASICMINER shares at close to market value to enable you to pay your debts.

Interesting. So Imsaguy has the funds he just doesnt want to sacrifice his shares....thats not showing good faith to pay back insurance contracts.

[BinaryMage]

It is sad that it actually benefits debtors to prolong their repayment, as it gives them an opportunity to settle for a lesser amount.

By the terms of the contract, INAU must pay the insurance, independent of the scammers he lent to (hashking and imsaguy) paying back. 

Says the guy that was offered a buyout and refused it because he'd rather bitch.

I also refused it because it would unfair to all of the other unpaid investors who have remained quiet.

Additionally, I have offered to buy a chunk of your 10k ASICMINER shares at close to market value to enable you to pay your debts.

Interesting. So Imsaguy has the funds he just doesnt want to sacrifice his shares....thats not showing good faith to pay back insurance contracts.

10k ASICMINER shares won't cover the insurance.