A long wait for P Club Investors

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A long wait for P Club Investors
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Posted by: admin

Quote:

The Pecunia Club August 6, 2003

Loss Declared

As some of you already noticed over the last few months we made some significant losses on several trades.
We have decided to write off these trades as a bad debt and this means that we are posting a loss for the months of June and July.

This will unfortunately affect our credibility and good will, but it is a reality that must be dealt with.
We would stress that this is not a critical issue as we have a number of other excellent investments that continue to be profitable and we are confident this will more than make up this loss over a short to moderate time frame.

In accordance with the Pecunia Club Rules & Policy, further Buy and Pay-out transactions will be temporally suspended and Pay-out requests received over the last 4 weeks can not be honored.
It is our intention to not re-open to further Buy or Pay-out transactions until such time as at least a 25% reserve is achieved or the international financial markets are stabilized and back on making huge profits again.

It is unlikely to be made up in 2-3 months and realistically it may be 4-6 months before we have achieved such a percentage.

A Nominal Personal Interest of 0.7% per month compounding will be applied to all Accounts until such time as this loss is recovered.

At present we have no idea how long it will take to recover this loss and build back the reserves. It would be sensible to issue a time limit for the worstcase scenario, so we are setting a maximum time limit of 12 months for this loss to be made good.
If after 12 months assets still do not exceed liabilities, then the Pecunia Club fund will be liquidated at that point, ie August 1, 2004.
The exact date for such a liquidation would not be decided until nearer that time. In this worst case scenario, it is anticipated that all Pecunia Club members would still receive their share of funds available at that time.

Posted by: kayaraya

Looks like another one bites the dust! ](*,)

It is hard to believe that losses can come so sudden and in such large amounts.

Losing more then what is available is really unbelieveble.

No trader would go into a position without stop loss orders and that too is very minimal. So how in the world did they lose all the funds?

Thought that it was invested in many other investments? Does this mean that all the investments have decided not to pay at the same time?

I am starting to think PONZI here. No matter how good they have been, looks like it was getting to top heavy.

Lets reflect. Just before the problems started, word has it that they were closing to new spends after receving another 1 million ( 20000 units ) Looks like they got it, packed up and have called it a day. Like so many before them. It was a good time to take and run.

My hats off to the guys in PC. You have done well. Spend the money wisely and you will live well! :-({|= \

/

Posted by: admin

Well, I just got another VERY SHORT 2 word reply from PC. At least we know someone is there even if we will not see any returns for a long while #-o

Quote:

Thank you !!

Aussie Gold <support@ausgold.net> wrote: Hi Jerzy

Great to hear that someone is staffing the PC help desk again

Looking forward to an update in the near future

I wish you every success in your new position at PC

Thanks and Best Wishes

Philip @ Aussie Gold

Posted by: memorex

I can only say that if they succeed in paying the members back within the the year as proposed .
At least they will have been a far more responsible program than a lot more than I care to mention.
And also given the fact they have not run, !!! YET? and although it is early days.
The signs look promising, but this will have to be seen to be believed.
It is just a case of putting it on the backburner and allowing the time allocated to pass.The same as the judgement?
regards
memorex

Posted by: admin

Another reply from Jerzy at the PC Help Desk

Quote:

Hello,

Please, check out your Home Page every week, when necessary it will be updated.

Regards,

Jerzy

Posted by: jaboles

I think this is good news. If they were to run off, I can't imagine that they would be regularly updating their site, or that they would've bothered hiring a new helpdesk assistant

Posted by: memorex

Although there were plenty of rumblings that P C were gone for good on the other forums because no one could access the website.

I decided to try it the other day and lo and behold I could access the page no problem so it was obviously down for some kind of maintenance or editing.

There is no new update there the last one being the 6th August .

So although this is not much to go on they are obviously leaving the web page up with the intention of returning.

Otherwise , after it was taken down and they were scamming as some may think.

Surely they would have left it down and not even bothered to put it back up again.

As no one knows how to comunicate or even catch up with them why would they have to carry on with the charade.

Just my view I could be wrong on this but I will just put it on the backburner and wait and see.

regards
memorex

Posted by: awty

It looks like a 'wait and see' deal to me. There are, of course, all sorts of possibilities. Time will tell. I got very lucky on it, and decided to take my original spends and some profit out, and leave in the rest of the profits to work long term. HOW long a term remains to be seen.
Jeff

Posted by: memorex

Quote:

Originally Posted by awty

It looks like a 'wait and see' deal to me. There are, of course, all sorts of possibilities. Time will tell. I got very lucky on it, and decided to take my original spends and some profit out, and leave in the rest of the profits to work long term. HOW long a term remains to be seen.
Jeff

Yes I made a really good profit from that program .

So I am not in the loss loss situation that a lot of people found themselves in.

but in the main I think it was all the late investors that have been the unfortunate ones and they will have to wait and see if this problem will be resolved.

regards
memorex