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Saturday, January 28, 2006

12 Daily Pro Compounding Payouts

Well, you're sitting around making money on the net, and thinking: "Hey, when am I gonna get paid by 12 Daily Pro?"

Well, dear sires and sirettes, is the answer:

"We wanted to take this time to update all of you who chose the compounding option for your E-Gold transition payments of the payment process we will be implementing regarding these compounded upgrade payments.

We offered the compounding option to members in an attempt to allow anyone who needed time to setup and get verified a new Stormpay or EMO account as needed. Unfortunately we did not ancitipate the sheer number of members who would choose to have their compounded upgrade payments paid to EMO.
Because such a large amount of these compounded upgrades were all purchased on one day, they are all due to be paid out on the same day when normally they would have been spread out over the course of 2 weeks.

When we look at the numbers, that means that for that day we would be paying out almost 6 times our normal daily payout to a payment processor.
This is manageable for us in the case of StormPay, as we have a substantial reserve fund there. But just as EMO transition payments were slow early on due to the need to move funds, compounded upgrade payments to EMO will similarly be affected.

Moving the necessary funds into place, once compounded members made their choice for processor is not a process that can be done quickly. We are also very concerned that payment of these funds all at once will result in mass upgrades on the day(s) of payments which will through off the balance of funds going forward.

Because of the above factors, we will need to extend the payment period for Compunded EMO payments to within 10 business days. However we would like to offer an alternative for those of you that may be able to take advantage of it. Your compounded upgrade is currently set to be paid to the payment processor and ID you have set in your account. If you have chosen the EMO option and would rather be paid out faster, we suggest you change your payment ID to a StormPay one. StormPay compounded payments are planned to begin Sunday, January 29 and will all be paid within the normal
7 business days. We plan to begin payment of compounded EMO upgrades the morning of Monday, January 30, at which time your selected payment ID will be ‘locked in’. So if you make a change, you will need to do so by Sunday night.

On Monday, after everyone has made their final choice, we will be able to give you are more precise prediction on when we will have all the payments completed.

We thank you in advance for your cooperation.

Charis
12dp Admin"

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