Thread: A Humble Request (Merged)

I guess the big concern for me is assets and cashflow. When or how people "came and went" is interesting, certainly I didn't know these people or what exactly it was they did. But was there/is there money to cover accounts? That's my big concern here...sorry if I am interrupting, but I know for a fact I'm not alone in my thoughts here.

Yes, at the end WW was very childish, and use to mock the fact he would sit in his office with the lights off, stating it was symbolic, as he was at this point left in the dark...

Many angles could be evaluated and discussed, but one of the famous things that occured, around the early part of August 2005, was the infamous, make a run on your account.. Put some in PicPay, keep some in Available Funds, and please take screen shots....

Sounds like many knew something, but had alternative plans when announcing stuff... Hmmm, makes you wonder about how the leak of information went...

Some more to chew on...

4D :-)

The very Last official email coming out of PIPS USA from IB was sent out with WW's recommendation to withdraw funds out of PIPS into Picpay and request withdrawals from there.

I found it very odd...that someone who was....admittedly.... kept so in the Dark when he was at the PIPS offices...all of a sudden had so much inside info...and was being taken seriously by IB.

Denise:)

OH...I forgot...this was the Second offical Last email....but IB wanted to get this info out to all members....whether they had chose to continue with BTI or not.

Originally Posted by goldierox

The very Last official email coming out of PIPS USA from IB was sent out with WW's recommendation to withdraw funds out of PIPS into Picpay and request withdrawals from there.

I found it very odd...that someone who was....admittedly.... kept so in the Dark when he was at the PIPS offices...all of a sudden had so much inside info...and was being taken seriously by IB.

Denise:)

Sorry, but what does this mean? To tell people to withdraw funds into Picpay and request wd's?...My mind wanders and coherent speech fails me from time to time. Help me, please!

Am I correct in assuming the consultants first alluded to the funds being there when they started but by the time they left....they weren't?

Originally Posted by jjm

Am I correct in assuming the consultants first alluded to the funds being there when they started but by the time they left....they weren't?

I don't think you are correct. It was mentioned that a large sum was frozen rather than it was 'there'.

As far as I am aware, there was no alteration in this between their arriving and leaving. That is somewhat of an inflammatory remark.

Originally Posted by whatever

Sorry, but what does this mean? To tell people to withdraw funds into Picpay and request wd's?...My mind wanders and coherent speech fails me from time to time. Help me, please!

If I were to venture a guess on this (and I will), it means that someone had the means to "reroute" money from PicPay but not out of the "actual" Pips accounts. By suggesting people "make a run" and transfer money to PicPay, I believe someone had the ability to access PicPay for their own purposes and that monies left in Pips accounts were "out of reach"? I'm interested in seeing more about what is being alluded to here...

Can you honestly tell anyone exactly what you have gained from the post?
Before you answer Think about what I said. We have two lawyers in our family
and I have talked to them for hours and came away with no information what
so ever. And they are talking about the subject matter at hand but when you
listen and think about it later they haven't told you a thing. But in the manner
they speak and there usage of the language is something to behold.

I'm from the old school say what you mean and mean what you say.

Here are the exact words IB sent in that e-mail: Jo

However .. I thought it important enough to write everyone with a
recommendation I got from Warren last night.

Warren was brought on as a consultant and is a lending member also. As
rumors had indicated.. he did resign at the end of the week.

He indicated that there are changes in the wind and soon. He said that
Bryan believes he has a solution to everything and part of his solution is
a new program.
It seems that it could involve restructuring PIPS ( which he and others
have been recommending to Bryan for a w hile) and starting a new program.

It is not clear with the PIPS and PicPay restructuring would be but it
could include shutting down PIPS as it is structured right now.. and
reversing all pending transactions in PicPay or all transactions with
pending and completed transactions in PicPay and then possibly shutting
PicPay down. Now.. this is not certain ..it is one persons perspective on
what could happen.. but it is the perspective of someone I trust.

There have been all sorts of speculative posts and emails and conjector
and rumors floating around and when emotions are high and information is
low.. that is normal.

However.. we don't; know how significant or extreme changes may be..but a
recommendation was made to me last night.. that I feel would be wise to
follow as we wait to see what changes are made. This stems from the
arguable position that although any funds showing in your reports on the
PIPS site are funds loaned to and held by PIPS Inc and no longer in our
control... once withdrawn to PicPay.. they have arguably been extracted
from that relationship and are now our funds. That position is even
stronger for Merchantes... especially if they can prove that they
delivered the product.

The recommendation is that you take a "snap shot" of your PicPay account
with any funds that are currently in it.. and do it this weekend.

If there are funds in your PicPay account.. the recommendation is to
request a withdrawal.. so that there is a record of it. ( if something
wonderful happend.. withdrawals CAN be cancelled.. but if things get
reversed or cancelled.. then a withdrawal would not be able to be
initiated). That gives you the possibility of a "benchmark" amount owed..
in any restructure ( as at times in a restructure the total verifiable
liabilities are identified to determine who gets paid and how..).. so
that is just a protective measure as we wait to see what happens.

Further.. it was recommended that you could set your PIPS status to
withdraw and move funds to PicPay and do the same thing with those
withdrawal requests.. This is an option that you may or may not follow
based on what your gut feel about the operation is... who you may have
contact with ( it seems several members have direct contact with some
employees and others at PIPS Inc.)

I for one .. in hoping for the best have just left everything at 100%
reloan over the last couple /few months.. Our PicPay account shows
approximatly 1300 memberships payment funds still in there with over 500
of them still PENDNG. so I for one will at least request that.. and
possibly look to at least request a few days ROL and then see how things
progress.

I just thought that it was sound adviice and would position our members
as prepared for any restructuring that may occur and possibly give us more
options in the event of a change.

Originally Posted by everwiser

If I were to venture a guess on this (and I will), it means that someone had the means to "reroute" money from PicPay but not out of the "actual" Pips accounts. By suggesting people "make a run" and transfer money to PicPay, I believe someone had the ability to access PicPay for their own purposes and that monies left in Pips accounts were "out of reach"? I'm interested in seeing more about what is being alluded to here...

OK, I see now,..well, I think I do . Wow...I don't do well with subterfuge. ICK.