Global Mutual Update (Tobor Brings The Juice)

Good friend of Northern Calm, Tobor has done us all a saintly service and brought us an update on Global Mutual after he personally met with Gordon yesterday (Aussie time.)

He has written a quality report as usual and I will post it here as is. There's some good, some bad, and some 'wtf!' moments from Gordon within but as usual, 'things are looking up.'

I'll write some more detailed comments later on... But for now feel free to soak up Tobor's report.

Tobor is a frequent flyer at HYIPDiscussion, one of the best resources out there and also a great place to watch me get into pointless nonsensical arguments!

Meeting with GMI’s Gordon – June 06

Background

After much disquiet on the HYIP forums about GMI and related programs, I offered to go to Gordon’s home city and meet with him. I did exactly that and met with both Gordon and “Mr. Anon”. The first reassuring thing is that both are real people. Mr Anon has real businesses in Australia and would seem to be the biggest single investor in GMI. He certainly has a lot more at stake in Gordon’s eventual success than I do.

Gordon has a tendency to jump all over the place in a discussion so I tried to structure some questions into groups and keep the conversation focussed on that. Since it was my time and travel dollars that I was spending, I make no apologies for the fact that my questions concentrated on areas of Gordon’s business that I have an interest in.

Global Mutual

GMI provides venture capital (risk capital) for funding several of Gordon’s business ideas that he has on the go. The one that seems to have now started working is Aussie Mutual (as has been mentioned before).

Gordon stated that Aussie Mutual has received its first commission for its part in helping a borrower get a mortgage loan. I have seen indisputable bank evidence of that first payment. I have also seen evidence of other loans having been approved and settled for which Aussie Mutual will receive payment in the coming weeks.

As we know all too well, GMI has a backlog of payments due to investors. I saw evidence that payments were made to a number of GMI members last weekend. Sadly I was not one of those paid. In fact I did not think much of Gordon’s method (or lack of) for selecting who was getting paid. We discussed that it might have been better to give say $20 each to more members than up to $100 each to a few. But at least some payments did happen to some people.

At the moment, Gordon is trying to apportion his limited supply of income between several programs including D2B. Gordon did state that he sent some money through to D2B recently and I guess TJ can verify that.

NES

NES is just as stalled as most of Gordon’s programs. Gordon was originally relying on forex trading to give NES its income. However, he pulled the money out of trade weeks ago. This might actually have been one of Gordon’s better decisions as it seems the traders lost money in the recent market turbulence. My understanding is that Gordon lost no money from this forex foray but also made little or nothing.

Gordon himself posted that he put $3k of GMI money into SI. It turns out that he put some of the NES money pulled out of trade into SI as well. Maybe not such a smart idea, though Mr Anon told me that do far they had gotten back 50% of the total funds invested. Perhaps Gordon will get lucky and SI will come good long enough to pay a bit more. And in case you were wondering, no, he did not realise at the time that SI was a probable scam. Mr Anon seems to have now convinced Gordon to stay away from that style of ‘investment’ in the future.

Gordon reported in his recent e-mails to everyone that he is investigating trading bots and I know that he has been doing that investigation for several months now. He has narrowed the list of possibilities to three and believes he has now got it down to one. As a NES investor, I wish him well though I am personally sceptical of the idea of trading bots.

While I was there, I told Gordon about the script errors in NES. Because he logs in under administrator mode, he does not see the same menus as us and so was unaware of the problems. If they are easy to fix, he will get them fixed but he also has the programmer rewriting the code from scratch in an effort to fix some other issues.

As far as I am concerned, until NES starts making real profits by a trading bot or whatever other means, it is all academic.

VC Shares

VC shareholders will get paid when the money from Aussie Mutual starts paying consistently. I think that Mr Anon won’t get paid until then either. In the meantime, go shopping through the GMI shopping link and help GMI make some money to pay you all with. As I am not a VC shareholder, I did not pursue this topic any further.

Axcellerate.com

Gordon admitted that starting another program wasn’t a very good idea. He is looking to fully refund the few people who did put some money into Axcellerate. I agreed with him that it was pointless to open new 'ventures' while there are still problems (both site errors and payment capacity) with existing ones.

Support & Communication

Finally, I took Gordon to task about his promised weekly communication and lack of response to support e-mails.

He pleaded more ill-health and I am inclined to believe him. What time he did have has been focussed on getting the Aussie Mutual business to work, a sensible priority. The recent flurry of communication is because he has been physically somewhat better in the last couple of weeks. And my personal thoughts is that seeing things start to work (and so far it is only a start) has probably buoyed his spirits somewhat.

Summary

Gordon has not run away with our money. He is trying against the odds to make a HYIP that is based on real business and real profits. I have seen irrefutable evidence that the Aussie Mutual business is starting to pay and has more payments due in the next few weeks. And that Gordon has made some payments to some members.

Mr Anon and I both used the opportunity to try and hammer home to Gordon that he needs to focus on the fundamentals and get Aussie Mutual (and his trading bot if he must) working properly. As I said at the beginning, Mr Anon has more money tied up in this than most of us and is auditing Gordon’s books on a regular basis while trying to give Gordon some proper business advice.

As for me, I will hang in there for a while longer. Mr Anon believes in him and I guess I do too. It seems pointless to me to go “running to authorities”. I am confident that Gordon could show the Australian authorities that he has made an honest effort to use the funds to try and make money. They will not lock him up for making mistakes or stupid decisions. And having seen his bank accounts, he is not living the life of the rich and famous. To the contrary, I could not live on the little that he does.

I will be back in Gordon’s home city in a month’s time and I will ask for a follow up meeting and to see more evidence of real profits."

Good stuff Tobor... and many thanks. My thoughts later, and perhaps I myself will go give Gordon a visit sometime (though it's a much longer trip for me it can still be done.)