[2006-06-29]

GladiatorSurf update

Hello all,
Let me be very open with all of you. Here's a breakdown of incoming and outgoing funds for the past 3 days:

June 26th:
Incoming- $3,820
Paid out- $2,988.6

June 27th
Incoming- $7,567.5
Paid out- $11,462.2

June 28th
Incoming- $3,530
Paid out- $865.5

June 29th
Incoming(current)- $970

Paid out- TBA. But roughly over $6,500 for members who qualify. Including members who do not qualify it would be close to $15,000.

During the last 2 weeks I was averaging over $10,000 a day in payments and not even 25% of funds come back in. If it wasn't for my reserve fund GS would have shut down last month. I have approximately $7,000 pending in various other programs that are also late(please keep in mind that I am not a member of 13dp). Since most of us understand how this industry works, I am not hesitant to divulge this information to all of you. Many other programs are also showing signs of slowing down. I'm sure they too are experiencing the same issues. Out of consideration for all of you, I continue to send you updates. I also hope all of you now realize how important it is to truly support a program. I thank all those who have been with GS from the very beginning. I am still here and will continue to make payments as funds come in regardless of how slow it may be. Hopefully once people start coming back from their vacations, the surf industry will pick up again. I also hope that people will know that GS and its members are not quitters.

I am open to any suggestion. Please feel free to start a discussion in the forums.

Michael

GS admin

Added by: aprika