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@BeauNidle
From Eddie;
You will probably now know that the sale of the forum to Verticalscope did not take place and the forum has been transferred back to my ownership.
Verticalscope took full control of the forum on the evening of Wednesday 4 November 2015 and, according to the terms of their agreement,
1.4 Payment of Purchase Price. Buyer shall pay the Purchase Price by wire transfer in immediately available funds within seven (7) days of a successful transfer of the Assets to Buyer pursuant to the transfer and migration process set forth in Article 6. The Purchase Price will be paid to an account of the bank designated by Seller via written notice to Buyer at least two (2) Business Days prior to the completion of the transfer of the Assets to Buyer.
On 6 November 2015 they sent this:
Hi Eddie,
Trying to get everything in order for the announcement and your pay day. Attached is a simple Wire Transfer Agreement you need to fill in, design and send back to me. This is documentation that is required for all international wire transfers. Please take care of this during the weekend or Monday at the latest so it’s ready when the time comes.
Thanks.
Jerry
Bank details for the transfer were supplied on 7 November 2015.
This means that the payment should have been made by the evening of Tuesday 10 November 2015. Payment was not received and a request for information regarding the payment was answered on 11 November 2015
Hi Eddie,
Doing a final check with Mark today to make sure we have everything.
Cheers,
Jerry
Further requests for information regarding payment were not answered so on Thursday 12 November, I delivered an ultimatum that Verticalscope should either pay immediately or restore the forum to my server: they chose to restore the forum to my ownership.
They have not said why they decided not to proceed although I suspect they were surprised at the righteous hostility expressed in the Bear Pit thread about their claim to rights on pictures posted on the forum. This thread was handled appallingly by them and did nothing to assuage legitimate concerns over their future plans.
To be fair, they did restore the forum without problem and until the time came to "show me the money", the transfer had gone smoothly but I suggest that any forum owner considering selling to Verticalscope should insist on "cash up front" and if they won't agree, there are other companies out there who buy forums.
Eddie
Be warned Velocio!