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September 6, 2004 Dear ComShares Members: We are deeply saddened to report that ComShares is in trouble. A human oversight error in the original system design failed to account for the full effect of e-gold transaction and storage fees on CS member deposits and other CS working funds accounts. This error was discovered last week. The situation is already sufficiently severe that we have no practicable option but to take ComShares offline for a period we expect will last through some point in October, suspending all trading and transactions during that time. We have no way to know yet whether ComShares will be able to "heal" the situation it is confronted with, but we intend to try. Over the next weeks, we will be working to make modifications of several kinds to the CS system. One of these will involve a shift from e-gold to EGCS for making member payments and for CS funds storage and transactions. Other enhancements that have been planned for some time will also be undertaken during this period, to take advantage of ComShares' being offline. To allow us sufficient 'breathing room' and focus to accomplish what we need to, we will not read or respond to e-mail during this time. We'll periodically update this page, however, so you'll know we're still here and breathing. Any spreading of rumors or wild theories in forums or on web sites that ComShares must be a 'scam' would first of all be false and would work against our efforts to successfully handle the situation we're confronting. With all our hearts we apologize to the members that a 'screw-up' of this magnitude has occurred. We don't know that it will be possible to "come back from the brink" on this one, but we are about to try and will give it our fullest effort. Current ComShares members will be fully apprised of the result when we return online. We are grateful for your understanding and your compassionate "standing with" us as we undertake this task. ComShares Admin, Staff and Crew |
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