No Bullshit HYIP Blog, A Part of No Bullshit Network

EMO refunds are going slow, which is to be expected. However, there are things going on behind the scenes. There are several updates on the website www.emocorp.com. If you have funds in EMO, I highly recommend spending some time looking at the links and reading the information.

You can log into your old EMO account. Your balance and transaction history is available. There are also updates to the latest motion and a preliminary approval for the claims procedure. I am not a lawyer, so I won’t attempt to interpret all of the updates. However, the receiver does have a synopsis of the update on the site.

Receiver Update – 6-16-2006

On June 14, 2006 the Judge entered the Agreed Order Granting First Amended Receiver’s Motion to Establish Claims Procedure Plan and to Approve Claim Forms (the “Claims Process Order”). All account holders of record will receive via email a letter and claim form from the Receiver explaining the claims process and any necessary steps that a claimant may need to take. If you do not receive an email from the Receiver and believe that you have a claim against EMO, then you can print the claim form located in the Claims Process Order, follow the steps outlined in the Claims Process Order and submit the claim form to the Receiver as noted in the Claims Process Order. Please note that the Receiver can not give you legal advice as to how to file your claim.

• The Receiver’s Motion to Pool Assets is currently pending and we expect a hearing on the matter in late June.
• The Receiver recently reached a settlement with EMO’s landlord on the Courtyard office space that was vacated by the Receiver; no settlement has been reached yet on EMO’s vacant Mesa office space.
• The Receiver continues to have discussions with EMO’s secured lenders regarding the amounts and status of their claims.
• The Receiver continues to market the assets of EMO (primarily software and patent pendings) to potential asset purchasers; no offers have been received as of yet.
• The Receiver is currently preparing for depositions to be taken from Todd Tredeau, Nancy Humphries and Tracey Jones, in order to better understand the current cash deficiency.

By the way, I’ve been asked why I haven’t been posting much lately. With all of the comings and goings and loss of some major players this month, I’ve decided that the HYI arena is just too volatile right now. I am still keeping a watch on what is happening, but I’ve decided to take a back seat for a while. When the market settles down I’ll become active and you’ll hear more updates from me.

JMO – Sharon

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