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MarcdeKoning - Administrator
Traffic Value: $468,983.12758 Netherlands
204 like this post 51 people
09/11/2015 18:07
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Hello everyone,
This is gonna be a very, very long read.

Everyone has noticed our delayed payments, today is the day i'm gonna tell you why.
The full story, full honesty, full transparency.

As all of you know I became the CEO of MTV 4,5 months ago.
Back then I had no idea of the current liquidity and it took a long time before I actually got that info.

I got the estimation that we would have funds for about 6-8 months without new cash coming in.
That gave me a great feeling of confidence as I was sure it would be more then enough to bring this company to the next level in which the company should be self-sufficient.

Then I went to the polish and slovenian offices.
While I was at the polish office I gave them the estimation of the funds, while also talking to them about Richard.
Richard told them all kinds of things about Carlos and myself, telling them we would scam them etc.
If Infomodel and I didn't give them the full story about Richard back then they wouldn't work for us anymore today.
They never met Carlos in any way and only had direct contact with Richard whenever they needed payments.

1 day after visiting the polish office, while still being at the polish hotel I got a devastating email from Carlos saying:

"Marc, today I reviewed a number of our accounts and it seems we don't have any development funds left and we can't cover for at least $300.000,- of the user balances".

That was shocking.. And I felt like a liar myself as I told our programmers just a day before that everything was okay and they should continue working for us.

I then continued my journey to Slovenia where I met Andraz.
Infomodel, Andraz and I sat down and discussed our liquidity problems, we brainstormed various strategies, changes to the companies' structure, new projects etc.
We decided that if we would have "only" $300.000,- in illiquidity, we would be able to save the company without a debt swap if we delivered the right products, fast!

I started marketing our various projects, we modified the portfolio a bit to gain more development funds and the results picked up for a short while.

Then I traveled to Spain, to meet Carlos himself.
It has been very productive going there, I learned a lot about legality, the issues this company is facing and much more.
It also gave me a chance to prove myself to Carlos, showing him I had the creative mind a CEO needs, I would arrive at his office every morning with a long list of ideas that I would think of and work on during the night.
After a week or 2 of being with Carlos I started asking some thorough questions and I told him I really want to know the current illiquidity.
When we checked all of the numbers I found out we were facing huge illiquidity and that avoiding a debt swap would be hard, but not impossible.
I was told right there and then that we had an illiquidity of $1.100.000,- on a total of $1.300.000,- in user balances.

All of this was 2 months ago and we were extremely motivated to pull an impossible stunt and cover that illiquidity up, without having to swap.
Obviously we couldn't tell anything about this to anyone as that would immediately ruin the entire operation.

We were gonna publish tic tac toe and 2 casino's within 2-3 weeks and that should give us the push to last a little longer.
If we would be pumping out products like crazy, people wouldn't want to "go full cashout", right?

Disaster struck, some of our programmers became unavailable for longer periods of time due to holidays, personal issues etc.
It happened at a really critical time and obviously we couldn't tell them about the huge illiquidity we were facing as that would cause stress amongst the entire team.
The programmers that became unavailable possess special roles in this team (and were key to getting the finished products up and rolling) for which we had/got no backups.
(Right now I made a chart of replacements and programmers are teaching each other various skills that others might need in case they can't be around themselves and we are now working on improving the workflow and having backup to avoid such situations in the future – something that used to be completely neglected, and hit us hard now)

Then came the moment we were facing cashout problems and that's when the public started losing confidence and they started cashing out more, sold rp's for the absolute bottom, deposited less and pretty much stopped reinvesting.
That's when it was all over.

How did we get this illiquidity?

Yan stole more than $200,000 from PM during his two „raids“.
We got $1,200,000 frozen in our paypal accounts.
Richard had about $500,000 worth of company funds in his personal bitcoin wallet when he was fired, on top of that he took out a lot of cash to pay personal expenses in the year before that.. He paid his trips, his expenses, his moms house, the expenses of his girlfriend, cars..
And perhaps most importantly, for the past year or so almost no costs were added to the portfolio products, there was no accounting, and the number of development funds on the screen were completely off. The last accounting there was, was very sloppy and not taking into account exact misc costs such as, hosting, lawyer costs, attempts of opening banks, working on a deal with FSC for credit cards and other future possibilities,
transferring payment processor funds, not to mention most of freelance work (support, programmers), upkeep and programming costs of 2015.

In the past 4,5 months we have been very, very stabil.. Until the point of the delayed cashouts.

In the past 4,5 months we ran this company with just $200.000 in funds during which we paid:

$20.000-$25.000 in lawyer costs
$130.000 running costs/month
$140.000 to get our deal/credit cards from the credit card company
$10.000 to get our paypal accounts running
Paid 100s of thousands in cashouts
We've been adding cash to all of our ad issues the past 1,5 months in order to keep the deposits/reinvesting up, the games made us break even/profit.

Do the math, we're running a very stabil business.

Right now we lowered everyone's salary by 30%
We lowered our hosting costs by $20.000/month

Our running costs currently:

$17-19.000/month for our slovenian office
$8-12.000/month for freelancers
$15.000/month for the management+ the spanish office (We got 5 people working there, Carlos paid these costs out of his own pocket for months)
$33.000/month for the polish office -$15.000,- (Currently we're working with 3 programmers less until we regain a nice figure of development funds)
$10.000/month hosting costs (This will increase over time as we add new websites, get more traffic and we need a testing server, but it won't get to our old level of $30-35k/month for years)
$5000/month in lawyer costs
$??? misc

~$100.000/month (Temporarily we're at about $80-$85.000 because of 3 programmers less)

Our portfolio would only have to generate about $3000-$3500/day to repay all the backers of our monthly running costs within the same month with a 15% interest, which is totally do-able with the correct liquidity backing our numbers up!

After all this you probably already guessed it, we need to swap..
The swap will be performed in 7 days from now.

The swap we chose to pursue is the following:
Full balances, full mtv swap (But the last 2 rounds), Paidverts stays untouched.

Why do we choose this approach?
Full balances- We've tried to cover these but because all of the things I wrote above we were unable due to the huge damage the previous management caused us/the tough luck we faced ourselves.

Full mtv swap- This is the way for us to generate new development funds, clean the slates, push the overall value of our company up, reset peoples' perception of our value..
We'll leave the last 2 groups and put them in front of the new row.
The FTQ is closed for new investments until the swap is done.
The first 2 rounds will be filled with Paidverts as it is now which will give a little boost to the pv results after the swap which should attract more people to join Paidverts.

Paidverts remaining untouched- We risk too much by swapping it. We would risk getting chargebacks through our credit cards, risk getting back our Paypal account alltogether..
(Note: Right now we're extremely strong in fighting any kind of chargeback and our websites are fully able to win all of them.)
Also it would force all the Paidverts users to be MTV users once again, something I know many people don't like/causes a lot of confusion.
Paidverts is getting us a lot of new users that don't know anything about mtv, at the same time it's the main source of our development funds currently.. Best to leave it untouched.
BAP are just points, we don't promise any repayment times etc.. So no reason to swap it, we'll repay those debts sooner or later, no doubt. Also currently we're at just $1.500.000,- debt in BAP.

We don't mean to say Paidverts is better then MTV in any way as both need each other in order to succeed and both have proved they are able to be sustainable. (Our gaming volume has been growing all the time and is still growing, you can see it for yourself by checking the daily result cards)

Best advice we can give you is to either spend your balance on buying rp's or buying BAP.

We will not do any cashouts between 9/11 and 16/11 nor do we allow deposits during this period to protect people from losing money during the swap. (We're really trying to perform the friendliest swap we've ever had)

We do allow ad purchases though, also from payment processors!

We will spend the Paidverts and Portfolio-balances in 3 days from now to buy up all the royalty positions on the market to create a better swap value/better results for Paidverts in the future!
If you're one of our active investors it's the best thing to take your shares from our sharemarket before we hit that 3 day period. (We will buy some before the 3 day period though)

After a fair observation of the company and taking in account that a lot of people got burned with a $0.30 swap earlier, we decided to perform this swap at a rate of $0.10/share.
They touched this value before, it then went down due to market manipulation which has been followed up by a different perception of our value by the masses.

Something totally new about this swap:If you never used MTV to invest before like buying shares or fast track investments, your money balance will be swapped to BAP at a rate of 2000 BAP/$1.
This means you won't lose a penny if you click all of the ads we assign to you after the swap, but it's a lot better to buy the BAP yourself within this 7-day period ofcourse as you will get 3100 BAP/$1.05.

As we're fully aware we got a big memberbase on Paidverts that doesn't read the forum or the alerts we decided to continue doing $6000 ad issues from 9/11 until 13/11,(Daily ad issues from monday to friday as usual) after the swap all the money balances get swapped anyway and there will only be BAP left.
We're sure this measure will save us a lot of complaints/people giving up on us.

This swap price is a lot fairer than the one we had before and is in the best interest of the overall health and future of MTV (I personally lose a $31.000 fast track due to this swap which i'm willing to accept for the greater cause)
After the swap the market will be cleared again but the $0.01 bottom will remain!

What is different about this swap compared to others/what is gonna change from now on?

1. This is the first swap since we've got the new management.
2. We are doing this because we absolutely have to, not just to create fake results.
3. We won't add anything to any daily results/Paidverts ad issues from now on, causing illiquidity
4. I will personally start doing the cashouts for which we're building a new engine which I will explain further in this post
5. We'll give you timely, proper liquidity reports and we're gonna start adding costs to all of our products on the portfolio again, with a correct breakdown of the costs.
6. Our team is running a lot cheaper then before and we will determine the amount of work we assign them based on the money we got, instead of hiring more and more people without having funds to pay those on a longterm basis.
7. We've got a lot of new members and a lot of new products. We recently launched a standalone casino, soon we're launching a bitcoin exchanger, targeted advertising, an IOS app for Paidverts, a sublangua app(An app which allows you to learn a foreign language while reading books for fun),a bitcoin casino, multiple fun multiplayer games and apps and if our funding allows it we'll get into bigger projects.
8. After the swap we will start buying the proper licensing for various parts of this business.

To add to point 4 which I described above:
Soon we're implementing a new way of doing cashouts..

We will pay all people from Paidverts within 24 hours and all MTV cashouts can take up to 2 weeks, this new measure will be installed at the 1st of december.

Explanation of the above being:

Paidverts users are not investments-related people, they come to "work" and wish to get paid for that.
If we pay them within 24 hours and we got a stabil system paying them the word of mouth will do the rest.
Paidverts generates a lot of profit and a lot of development funds, the MTV users profit from those.

It will work like this: (This is a part of the actual note we wrote for the programmers)

#2 Tasks (prepare any crons needed, they will need to be fired just before we put the #1 tasks live):
1.) Block people from transferring mtv balance to pv balance and vice versa
2.) Block people from transferring neteller/paypal/payza balance to pv balance
3.) Transfer the current PaidVerts balance of our users to their MTV balance - quick cashouts will only apply to PV balances gotten after this change
4.) Users can still sell shares for BAP and buy shares with BAP. However the shares they buy with BAP need now to be marked as MTV balance shares, not PV anymore!
5.) All cashouts requested before this change will be marked as from_pv = 0

Ofcourse, if we can, we will pay the MTV users as quick as possible as well, but the TOS will allow us up to 14 days giving us room to transfer our balances when needed, send cash to the bank to pay the staff, pay bills, licensing etc.

The issues with Paypal.
A lot is unclear here, both for you, the public and for us.
Paypal is giving us the wrong information, they promised us things that they later didn't make up for.
We registered Paidverts under the lawyer firm in London, for that reason they assigned us a 3rd account that was registered on their name from the start.
After jumping through all of their hoops they still froze us after we received about $15-$20.000 in purchases.

We were gonna get our 2nd account returned to us, but until now we didn't get anything, but that account should not be a problem.. It holds $35.000,-

The 1st account is a huge disaster, we got no clue how long it's gonna take, if we need to go to court, if we will ever see it returned to us anyway (Due to some clever wording in their TOS)
The 3rd account is being worked on by our lawyer and when we got the proper information we will definitely give it to you, as we do respect the transparent business model we're following.

In the past few months we had to keep quiet about the liquidity, which made it very hard to be transparent.. Also a lot of our members made it into a sport to make fun of our ETA's, which is why we released many projects without giving any ETA at all.
This is why our moderators had to act up in a lot of occasions which got a bit too personal every now and then as the moderators are with a small group dealing with a lot of unhappy customers.

This swap will be the start of something amazing.
This will fully unlock mtv's potential, unlock huge growth, make us capable of buying up shares and lower the pressure on our current market..
This will prepare us for an amazing growth in 2016, the year in which we plan to legalize various parts of our business, pump out many great products that will be great money making machines and exponentially expand our business into different ventures.
This is the time to be in mtv, this is the time to invest for a big longterm profit!

Last but not least..

Right after the swap we're having a referral contest!
Even though we already got a huge memberbase, we would like to expand even quicker and in order to do so we're gonna need your help.
We'll be rewarding the ones that refer the most people that spend at least $1 on one of our platforms in the coming month after the swap.
Here's the prices we'll be giving out:

$3000 ref contest for the PPMG-casino:

1- $250
2- $200
3- $160
4- $150
5- $140
6- $130
7- $125
8- $120
9- $110
10- $100
11-25- $16
26-100- $5
100-400- $3

$2000 ref contest for mtv/pv:

1- $150
2- $90
3- $50
4- $40
5- $35
6- $30
7- $25
8- $23
9- $22
10- $20
11-25- $16
26-100- $5
100-400- $3

As you can see we've put the focus on our Perfect Money casino as it's still brand new compared to our platform which has 1.5 million users and it's a way for us to reward our faithful affiliates.

The referral contest starts at 16/11 and will end at 16/12.

From now on things will get better in every single way possible and we got our social media channels which you can use for some quick questions as well, you can find them here:

As most of you know, swaps create opportunities to pocket a nice profit when you get in quick after we performed one, so make sure to prepare for it!

Today's ad issue total: $6,000

BAP Group …... Percent (x100) …... $Available …... No. Users …. $ Ads /User
100 to 1599 …........ 0,000 …........ 0,000 155 32384 …........ 0,0000
1600 to 12k …........ 0,118 …........ 708 …........ 30236 …........ 0,0234
12000 to 24k …........ 0,030 …........ 180 …........ 4735 …........ 0,0380
24k to 48k …........... 0,050 …........... 300 …........ 4183 …........ 0,0717
48k to 96k …........ 0,085 …........ 510 …........ 4245 …........ 0,1201
96k to 180k …........ 0,095 …........ 570 …........ 2543 …........ 0,2241
180k to 360k …........ 0,120 …........ 720 …........ 1616 …........ 0,4455
360k to 720k …........ 0,120 …........ 720 …........ 857 …........ 0,8401
720k to 1.5m …........ 0,100 …........ 600 …........ 367 …........ 1,6349
1.5m to 3m …........ 0,068 …........ 408 …........ 123 …........ 3,3171
3m to 6m …........ 0,057 …........ 342 …........ 53 …........ 6,4528
6m to 20m …........ 0,075 …........ 450 …........ 30 …........ 15,0000
20m+ …........... 0,006 …........ 36 …........ 1 …........ 36,0000
50m+ …........... 0,051 …........ 306 …........ 4 …........ 76,5000
100m+ …........... 0,025 …........ 150 …........ 1 …........ 150,0000

Ads were sent as:
v Default $/ad (Quantity) 1x Ad 1x Ads Remaining
100 to 1599 …........ 0,002 …........ …........ …........ …........
1600 to 12k …........ 0,005 …........ 2 …........ 0,007 …........ 0,004 …........ 0,002
12000 to 24k …........ 0,010 …........ 2 …........ 0,011 …........ 0,007 …........ 0,000
24k to 48k …........ 0,020 …........ 2 …........ 0,022 …........ 0,014 …........ -0,004
48k to 96k …........ 0,030 …........ 2 …........ 0,036 …........ 0,023 …........ 0,001
96k to 180k …........ 0,040 …........ 3 …........ 0,067 …........ 0,043 …........ -0,006
180k to 360k …........ 0,050 …........ 4 …........ 0,134 …........ 0,085 …........ 0,027
360k to 720k …........ 0,100 …........ 4 …........ 0,252 …........ 0,160 …........ 0,028
720k to 1.5m …........ 0,200 …........ 4 …........ 0,490 …........ 0,311 …........ 0,033
1.5m to 3m …........ 0,250 …........ 7 …........ 0,995 …........ 0,630 …........ -0,058
3m to 6m …........ 0,500 …........ 6 …........ 1,936 …........ 1,226 …........ 0,291
6m to 20m …........ 0,750 …........ 10 …........ 4,500 …........ 2,850 …........ 0,150
20m+ …........ 1,000 …........ 18 …........ 10,800 …........ 6,840 …........ 0,360
50m+ …........ 2,000 …........ 19 …........ 22,950 …........ 14,535 …........ 1,015
100m+ …........ 5,000 …........ 15 …........ 45,000 …........ 28,500 …........ 1,500
Traffic Value: $13.47349 Poland
47 like this post 27 people
09/11/2015 18:15
hahaha I remember all You people yelling NO MORE SWAP.. Its just so funny how We are manipulating wink
Traffic Value: $3,036.0835 Spain
18 like this post 3 people
09/11/2015 18:18
Soo, in 3 days you are going to spend 160k $ from paidverts account buying shares?
Traffic Value: $228.68304 Poland
16 like this post 1 people
09/11/2015 18:21
I'm only using Paidverts,not MTV.It's only MTV's swap right?
Traffic Value: $19,824.91092 Slovenia
49 like this post 4 people
09/11/2015 18:22
1. OMG, I knew it and I warned about it.

2. Swap balances? Seriously?! How can this even be legal?

3. "We'll leave the last 2 groups and put them in front of the new row."

It is totally unfair to pay people who invested in last 2 weeks but not others. Everyone should be swapped or no one. Or will *only* paidverts be paid in last 2 rounds?

4. Remove RP price block. If people want to sell shares at $0.0001 let them.

5. We lost 250% plan, we lost 200% plan, we lost 170% plan. Why is the 240% plan still there? Be fair to all users, 240% is too much.
Traffic Value: $14,436.60075 Turkey
18 like this post 2 people
09/11/2015 18:22
Paidverts will not be touched. PV users will soon be able to cashout within 24 hours.
Traffic Value: $1,850.32389 Romania
44 like this post 3 people
09/11/2015 18:23
Well,thats some good news and bad news right there.To me,its good.Finally Marc cleared our liquidity (i've had an idea of that for some time) report.Because he was honest about everything,ill give him a vote of trust.
Traffic Value: $73,032.40453 Netherlands
14 like this post 1 people
09/11/2015 18:25
Can you explain why the swap is at a rate of 10 cents and not 1 cent?
Traffic Value: $2,386.03467 Slovenia
27 like this post 3 people
09/11/2015 18:27
Seems I will never get my invested money back... Too bad.
Traffic Value: $8,892.04504 Slovenia
93 like this post 1 people
09/11/2015 18:29
isnt it funny, how brainy used 20.000$ even more from balance yesterday to buy shares, and to exchange them for is just a coincidence right? wink

oooo and i forgot..he also sold investments of 250$ round 66 yesterday for 125$, lowest possible price ..tell me please, who would do that....there are only two possible anwsers..either he sees into future, or he got an info about the news today
Traffic Value: $65,453.30658 Sweden
28 like this post 1 people
09/11/2015 18:29
i know this is the only solution for the cashout problem but do you really think this will get people's trust back?

why Marc do you sound like Jo, why rush all the time for quick profits after swap and promote that like Jo did, don't start this again please, we don't want that attitude anymore think next time and start to listen to people if you want trust back...especially those with money !!!
Traffic Value: $9,334.85757 Spain
6 like this post 24 people
09/11/2015 18:29
That would result in increasing the 0.01$ line in as many shares as we deliver.
And would make not usefull to spend pv and portfolio balances in shares.
No he had not inside info. He just made a move because he probably could expect it. Tbh i was wondering how much time more we were going to wait before a cash swap.
Traffic Value: $522.66532 Viet Nam
29 like this post 2 people
09/11/2015 18:29
my 4th debt swap though, I feel okay with that but I really hope there will be no more.
Traffic Value: $3,036.0835 Spain
7 like this post 1 people
09/11/2015 18:30
What doest Balance Swap mean?
Traffic Value: $14,823.02214 Croatia (LOCAL Name: Hrvatska)
13 like this post 1 people
09/11/2015 18:30
c4n, you were right, unbelievable!
You did great job with selling FTQ and buying RPs.
Traffic Value: $19,824.91092 Slovenia
18 like this post 1 people
09/11/2015 18:31

It means: "all your money is belongs to us"

Whatever you have in account balance goes pufff! Rather buy shares quickly.
Traffic Value: $3,036.0835 Spain
11 like this post 1 people
09/11/2015 18:32
So the money I have on my balance will dissapear?
Traffic Value: $9,334.85757 Spain
8 like this post 3 people
09/11/2015 18:32
It means that the cash holded in your balance (or waiting for a cashout) will be ALSO exchanged by shares (or bap if you never invested in mtv).
Traffic Value: $2,067.68633 Brazil
10 like this post 2 people
09/11/2015 18:32
@c4n @Rubenja
If you never used MTV to invest before like buying shares or fast track investments, your money balance will be swapped to BAP at a rate of 2000 BAP/$1.
This means you won't lose a penny if you click all of the ads we assign to you after the swap, but it's a lot better to buy the BAP yourself within this 7-day period ofcourse as you will get 3100 BAP/$1.05.
Traffic Value: $19,824.91092 Slovenia
16 like this post 2 people
09/11/2015 18:33
Yep. Buy shares a $0.01 or you will get 10x less when you get swapped at $0.10
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