Just got this email addressed to all customers:
Dear Customers of BetPanAm,
I have been able to reach out to many of you the last few days. I have acted on the behalf of the shareholders of BetPanAm to make sure you know their intentions to work out all of our payment issues. In all but one case, the proposal offered on behalf of the shareholders has been accepted save for one account who responded that he would consider saying yes. About 65% of you have actually already sent in an agreement to our proposal.
In other cases, I have been unable to reach some accounts or have yet to be able to discuss this proposal with each of them personally but I am certain the intentions of the shareholders is meant across the board. I have presented the results to the shareholders and have been told their response is forthcoming within the next day or so. I regret that at this time I still do not have a “check in hand” but all indications are that this will be made available to BetPanAm in very short order.
To the accounts I have not been able to reach, we have offered payment plan terms and have asked people who have sent complaints to the Panama Gaming Commission to temporarily suspend those complaints as long as BetPanAm fulfills the terms of each of our agreements. The offer was about 20% to 25% of the current outstanding balance to be immediately sent to each account holder and within 4 to 6 weeks another equal amount. All balances should be paid in full no later than the end of August. This is our best effort to square up the shortfall which in terms of this business is a relatively small amount although BetPanAm understands that any amount of unreturned funds is a serious issue.
I will be unavailable until Monday, April 5th. It is likely that upon my return, all accounts who have made agreements have already received their funds or those funds are in transit (in the case of cashiers checks). I will be catching up with each of you early next week to follow up on those I have been unable to reach and/or accounts that other representatives here have been unable to reach.
Thank you to those who have expressed a desire to allow BetPanAm to resolve all these issues positively. It says a lot when one party does their best to do the right thing and the other parties work with you. Thank you, very much…
Chester, consultant to BetPanAm
==============================
Roberto: you mentioned an April 4 or 5 deadline in the other topic - exactly what is that about and whose deadline is it? Thanks
[This message was edited by Jazz on March 29, 2004 at 07:22 PM.]
Dear Customers of BetPanAm,
I have been able to reach out to many of you the last few days. I have acted on the behalf of the shareholders of BetPanAm to make sure you know their intentions to work out all of our payment issues. In all but one case, the proposal offered on behalf of the shareholders has been accepted save for one account who responded that he would consider saying yes. About 65% of you have actually already sent in an agreement to our proposal.
In other cases, I have been unable to reach some accounts or have yet to be able to discuss this proposal with each of them personally but I am certain the intentions of the shareholders is meant across the board. I have presented the results to the shareholders and have been told their response is forthcoming within the next day or so. I regret that at this time I still do not have a “check in hand” but all indications are that this will be made available to BetPanAm in very short order.
To the accounts I have not been able to reach, we have offered payment plan terms and have asked people who have sent complaints to the Panama Gaming Commission to temporarily suspend those complaints as long as BetPanAm fulfills the terms of each of our agreements. The offer was about 20% to 25% of the current outstanding balance to be immediately sent to each account holder and within 4 to 6 weeks another equal amount. All balances should be paid in full no later than the end of August. This is our best effort to square up the shortfall which in terms of this business is a relatively small amount although BetPanAm understands that any amount of unreturned funds is a serious issue.
I will be unavailable until Monday, April 5th. It is likely that upon my return, all accounts who have made agreements have already received their funds or those funds are in transit (in the case of cashiers checks). I will be catching up with each of you early next week to follow up on those I have been unable to reach and/or accounts that other representatives here have been unable to reach.
Thank you to those who have expressed a desire to allow BetPanAm to resolve all these issues positively. It says a lot when one party does their best to do the right thing and the other parties work with you. Thank you, very much…
Chester, consultant to BetPanAm
==============================
Roberto: you mentioned an April 4 or 5 deadline in the other topic - exactly what is that about and whose deadline is it? Thanks
[This message was edited by Jazz on March 29, 2004 at 07:22 PM.]
