Update On BetPanAm February 26

TheGeneral+ · Feb 26, 2004

Scotty and Marty from BetPanAm had a meeting in Panama City today with Ms. Lizzy Rose. Immediately she comes across as helpful and concerned, while serving as attorney for the Gaming Control Commision she is not the one with final say so. She is in the process of setting up another meeting with the Gambling Commisioner Herbert Young. The Gaming Commission is under the Finance Minister’s control, being the one who can ultimately rule on the bond to go to players. They were told that eventually they would have that meeting to propose a case for the players. Now the one thing that did come from this is the fact that Lizzy said the response from players is working. She has been forwarding the e-mails to the right people and that the Gaming Commision is displeased with whats going on right now. Ms. Rose recommends continuing e-mail correspondence which has gotten deserved attention. Hopefully we can reach resolution to all of this soon. These BetPanAm guys are waiting for a call back to attend the next meeting. We suggest you send your emails and await a response. With any luck this will happen before Friday.

Please email lrose@mef.gob.pa

[This message was edited by The General on February 26, 2004 at 12:01 PM.]

DENIRO · Feb 26, 2004

thanks general

from that statement there indeed is a bond

herbert young sounds like a white guy

usa usa usa

spidermonkey · Feb 26, 2004

i don't understand, why aren't scotty and bill meeting with all the investors? have the investors just given up at this point?

anyway thanks for the update.

TheGeneral+ · Feb 26, 2004

I know it is hard to understand for some, but Bill, Marty, and Scotty are very against what is going on here. They could have walked long ago, but are staying until this is resolved. From what I understand the investors don't meet with these guys because of their stance on this matter.

DENIRO · Feb 26, 2004

talked to scotty

send those emails- they are definately working

he states that there is indeed a 500k bond

send the emails

Tekari · Feb 26, 2004

i just got paid in full yesterday

i feel everyone will eventually get paid

spidermonkey · Feb 26, 2004

appreciate the work you are doing general, too bad your boss seems to be following his normal routine of pump and dump and don't give a fcuk.

red007 · Feb 26, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by Tekari:
i just got paid in full yesterday

i feel everyone will eventually get paid<HR></BLOCKQUOTE>

how much did you get paid? did you have a large balance or just a few hundred? and was it via neteller? or fed ex check?
thanks

red007 · Feb 26, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by spidermonkey:
appreciate the work you are doing general, too bad your boss seems to be following his normal routine of pump and dump and don't give a fcuk.<HR></BLOCKQUOTE>

TheGeneral+ · Feb 26, 2004

I am in hopes that every message helps. Even concerned patrons of the Rx could help by sending an email. Let's use electronic communication the best we can.

Still hoping.

DENIRO · Feb 26, 2004

talked to scotty for a few

bill and scott trying to meet w/ herbert young, the gaming commissioner himself as soon as possible maybe tommorrow

not only emails but try to call lizzy rose on the phone

the more we email and call the better

Frankie5angels · Feb 26, 2004

Tekari- How much were you owed?

crazyivan24 · Feb 26, 2004

I just emailed her today...waiting for reply...

whats up guys?

HateTheRiverCard · Feb 27, 2004

General... were you able to find out how the bond monies would be paid out? I ask because I have heard and read that employees have not been paid for a couple of weeks so will the government protect their own first before splitting up the remaining money and is there any indication of how much money is owed? This would give players an idea of whether they will get full amounts owning or a percentage of their balance.

I have heard that their debt is in the vicinity of 1.2 million and if true players are looking at getting about 40% of their balance. Lets hope the investors kick in the rest but at this point it does seem bleak.

HTRC

TheGeneral+ · Feb 27, 2004

HTRC,

I did not get any breakdown of how the bond would work.

bettorstalk.com · Feb 27, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by HateTheRiverCard:
General... were you able to find out how the bond monies would be paid out? I ask because I have heard and read that employees have not been paid for a couple of weeks so will the government protect their own first before splitting up the remaining money and is there any indication of how much money is owed? This would give players an idea of whether they will get full amounts owning or a percentage of their balance.

I have heard that their debt is in the vicinity of 1.2 million and if true players are looking at getting about 40% of their balance. Lets hope the investors kick in the rest but at this point it does seem bleak.

HTRC<HR></BLOCKQUOTE>

If they do owe $1.2 million the players payout won't be 40% because they will owe employees, building rent fees, equipment fees, etc.

red007 · Feb 27, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by CrAzY Jivin' IvaN:
I just emailed her today...waiting for reply...

whats up guys?<HR></BLOCKQUOTE>

Has she written you back. I've sent her two emails and no response.

TheGeneral+ · Feb 27, 2004

I am hearing player debt is more in the range of 300K, not 1.2 million.

crazyivan24 · Feb 27, 2004

Red - I only sent her 1 email... no response

bettorstalk.com · Feb 27, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by The General:
I am hearing player debt is more in the range of 300K, not 1.2 million.<HR></BLOCKQUOTE>

If its only 300k whats the investors problems?