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Global Online Depository - The Heat Fades, Now What?
HYIP Thoughts, HYIPTags: global online depository.
I wanna surface some comments brought by some of our readers (thank you) on Global Online Depository.
It’s a brick and mortar company. So it actually buys goods and sell on Ebay (kinda like how online casino works). In the first place I’m skeptical of how it’s going to repay the loans that comes from investors since the ROI is so huge.
Ross, one of our reader brings this up,
Well I have a withdraw dating back Nov 2006. have contacted support, Russ etc. took them 2 months to respond with a message that came down to this that they will check my request and there are not a bank and there is a long line. will I ever get paid? there is someone at HD forum (cheery guy) that tells tales about new developments etc..non of them true. specially with regard to reinstatement of e currency withdraws.they have specially denounced any news regarding this fact formally. I am confident that there are many in the same position as I am.
It would seem that the HD person has been cheerleading instead of presenting real facts.
investor brought up a really good point as well,
here is what i found from the site with regards to requests for withdrawals:
Q. How quickly are withdrawal requests fulfilled?
A. Fulfillment of withdrawal requests must wait on the sale of enough current inventory to generate sufficient cash to cover the requests.
Generally, withdrawals are fulfilled as follows and the check, or other means of fullfillment will be processed within the following guidelines:Up to $500, allow at least 7 business days to process.
For $500 - $2,499, allow up to 12 business days to process.
For $2,500 - $4,999, allow up to 18 business days to process.
For $5,000 - $9,999, allow up to 25 business days to process.
For $10,000 - $19,999, allow up to 30 business days to process.
For $20,000 - $34,999, allow up to 35 business days to process.
For over $35,000, allow up to 40 business days to process.
Under unusual cirecumstances or if there are a larger-than-normal number of requests, fulfillment could take longer than indicated by the guidelines shown above. These estimates do not include delivery time.Pease REMEMBER Global Online Direct, Inc. “is not a Bank” - we have to liquidate Product Inventory to fulfill withdraw requests.
this is going to be a problem when all the people who joined up in june and on till the cut off date are waiting for there money. i could see waiting upto 3 or 4 months. i was anticipating that when i invested and was thinking i would have my money in june!
advocate on the other hand, has good view forecast on the future of G.O.D
When a company reports that loan repayments are contingent upon sales, I become concerned for their long-term viability. First, it’s a business blunder to relate cash flow details, especially details which make investors nervous. Second, if they are truly in that position, and have no loan payment reserves, then it is unlikely they will succeed.
Time permitting, I plan on being on the conference call, armed with some pointed questions. I hope they are using some decent conference software—-last few times I tried, there was a lot of interference and echo. Not a very professional face.
It won’t last. If they would have limit the amount of loans that they take in and give a good constant reporting of how their business is doing, with fix ROI payment dates, it’ll be more viable in the long term.
But when deposits are coming in at a constant manner and if the sales doesn’t keep up, the money is just stacking up in GOD’s account without doing anything, or worse. GOD might start to pay off from the deposits, building a ponzi unintentionally.
My thoughts, what’s your view?
Popularity: 2% [?]
Heh, I remember posting somewhere sometime about about g.o.d. something along the lines of… “I wouldnt buy those things” listed on ebay. And the total “sales” of the 6 month history of their ebay account/s didnt even reach 2k (gross).
Still, the “The check is in the mail” bit is getting old.
Well… I guess I can scratch this one off my list of potential places to put my money in.
Uninformed non-factual commentary regarding Global is useless. Being relatively close to the top people involved I can say that Global’s sales are strong, the company is growing and they’ve been totally up front and honest about any situation they’ve come across. Bottom line…they were not prepared for onslaught of growth that happened in such a short period of time in Sept. and Oct.
Personally, I have received every withdrawal - latest in mid Dec. They are not a bank and now have to audit each withdrawal to make sure people don’t get paid twice (this has happened). I believe e-currencies are now online - this will make things much faster.
If you have a withdrawal that has slipped through a crack then go through the proper channels to get it rectified - it will happen.
Oh - the comment about e-bay - they do extremely little business there - most sales are from the daily flea markets, stores and 3rd party vendors.
Global is on track for incredible growth for 2007 and it will be a great year.
Is there any kind of forum or group that is available for GOD investors for discussion Mike?
Other than the usual MMG and HD I’m not aware of any specific forum. The best way to stay informed are the weekly conference calls - Tues. and Thurs. Where we live there is a large group of Global participants that meet to discuss current happenings. The last one we had was early Jan. and it was extremely positive.
A new debit card situation will be coming shortly which will also help with withdrawals. People just need a bit more patience - I personally believe they will be up to date shortly.
Mike
I was just on the conference call this evening.
up to 22,000.00 members.
severe growing pains…..WHICH IS UNDERSTANDABLE!
So, let all the negative ….call ’scam’ people, just back off for awhile.
also there are always ‘As…..les’ out there that try to rip any system off by trying to get more $ that they are not entitled too………….which screws it up for EVERYBODY.
I’m waiting , so are alot of people, let’s just let them get there ‘SH……….T together.
Just backoff…..any member that has a problem………you go from 265 to 22,000.00 members in ‘light speed’ and see how you handle it.
easy to be an ‘armchair’ investor.
my 2 bits…………hey I don’t like it either…..BUT GUESS WHAT…………
YOUR NOT HELPING by BASHING IT!
Luba
Luba, growing and having payout problems isn’t a small problem. You know this usually turns any investment opportunity into a ponzi. Name me one program that you know that did work out in the long run.
This reminds me of PIPS greatly. Of course it’s different, with products and all, but the stalling of payment does.
(ps, the cheerleading too)
If they’re real, doing everything by the books, no-matter how you bash it, they will still make money and they will still pay out.
If you cant handle growth, dont.
when will the audits be done???