Global online depository

Newbie Joined: 16 Feb 2007 Posts: 44

Naturally, we'post 'at the pleasure' of our esteemed moderator, but speaking for myself, I greatly appreciate the time you are taking to keep others informed regarding the ongoing tribulations of Global. Sharing information is tantamount to any successful Internet activity.

Newbie Joined: 24 Feb 2007 Posts: 28

I did ask permission before posting the first ones, so as long as it is helpful I will continue to do so.

Posted: Wed Apr 25, 2007 8:55 pm

uncle sam wrote:

Naturally, we'post 'at the pleasure' of our esteemed moderator,...

What was that about uncle sam? Is that statement directed at any one of the mods here??

Please clarify.

Levaz

Newbie Joined: 16 Feb 2007 Posts: 44

Just a light hearted reference to the fact that business Forums have (and need) moderators, Levaz. Sorry if it came across as anything other than respect for you and what you do.

Posted: Thu Apr 26, 2007 1:04 am

uncle sam wrote:

Just a light hearted reference to the fact that business Forums have (and need) moderators, Levaz. Sorry if it came across as anything other than respect for you and what you do.

Nothing to worry about, I just did not get that!

Sorry

Levaz

Posted: Thu Apr 26, 2007 3:36 am

I thought uncle sam was taking a crack at the Bush staff; serving at the pleasure of the president seems to be the verdict. Laughing

HH

Newbie Joined: 24 Feb 2007 Posts: 28

There is a new notice on the home page on site (Apr 25) :

"Important Notice: At the advice of legal counsel and until further notice, the Global Tuesday and Thursday Night Support calls have been discontinued."

***********
If I get any news from my upline, I'll pass it on.

Posted: Thu Apr 26, 2007 11:59 am

emily wrote:

There is a new notice on the home page on site (Apr 25) :
"Important Notice: At the advice of legal counsel and until further notice, the Global Tuesday and Thursday Night Support calls have been discontinued."
***********
If I get any news from my upline, I'll pass it on.

Much appreciated, Emily.

It does seem strange that counsel would advise them to cut off communication when that would have a huge negative impact on the crowd.

Especially, when Global claims to have a good feeling about their position and the potential outcome of this inquiry.

Levaz

Newbie Joined: 24 Feb 2007 Posts: 28

My thought on that Levaz, is counsel does not want anyone from Global phrasing a comment incorrectly, which would be easier to do when speaking spontaneously-for example, accidentally using the word 'investment' instead of 'loan'. If something was said wrongly, it could add fuel to the SEC's fire if a disgruntled member reported it-you never know who is on the calls really, whether they are a friend or foe.

I think if they keep the membership informed of all news, it will help us be more comfortable as this SEC thing runs it's course. When something is put in writing, there is time to re-read and change words/phrases if one takes the time to do so.

Newbie Joined: 16 Feb 2007 Posts: 44

Frankly, I am surprised Global's legal advisors didn't pull the plug on the conference calls earlier. Emily's point is well taken, plus, there simply isn't much to talk about until the SEC matter is resolved.

I checked a day or so ago, and the business-in-a-box website still had no content, other than a form with which to register an interest. It's amazing to me that an ** campaign can be underway, and the business splash page contains no information. As well as business blunder, this strikes me as a bit Orwellian.

Newbie Joined: 24 Feb 2007 Posts: 28

No good news; it's gone to receivership.

http://www.grassmueckgroup.com/global_online.php

Posted: Wed Jun 06, 2007 10:32 pm

emily wrote:

No good news; it's gone to receivership.

http://www.grassmueckgroup.com/global_online.php

That was rather quick. Well, we can all look forward to a few pennies on the dollar compliments of the SEC.

Meanwhile, they take our money in the name of penalties and fees!!

Levaz

Newbie Joined: 04 Nov 2006 Posts: 12

We will be hearing from Global this week.

Posted: Thu Jun 07, 2007 11:30 pm

Does this mean that G.O.D. is dead?

HH Very Happy

Apprentice Joined: 16 Oct 2006 Posts: 128 Location: NEVADA

The Global website is no longer accessible. The following message has been posted on their site:

Access to Global's website has been suspended temporarily at the request of the Court appointed Receiver.

Newbie Joined: 24 Sep 2006 Posts: 50

why do the sec always swallow confiscated funds they should just return funds to investers and fine or jail the program owners this sucks

Apprentice Joined: 16 Oct 2006 Posts: 128 Location: NEVADA

I have reviewed the government report submitted by their monitor and the situation looks pretty bleak. The financial analysis clearly shows Global to be insolvent and in no position to pay back loan principles, much less any interest payments. According to the report they have less than $1 million in cash and not much in the way of assets. The total amount currently owed to lenders is more than $264 million. If you want to get the details, look up that link provided by Emily and read the monitors report. Plenty of bad news to spread around.

Posted: Sun Jun 10, 2007 2:47 am

If Global were lying to us about their asset strength, then they deserve what came. However, if their resources were depleted as a result of the PA injunction and then the one in Georgia, followed by the SEC investigation, then Global was deliberately bled to death and of course, the end result is they will have nothing left to show for all that work.

We will never really know which one!

What is certain and is always the case - we are left holding the bag Sad

Levaz

Posted: Thu Oct 04, 2007 5:23 am

I have recently received this update from one of our kind members, via PM

Emily wrote:

Hello Levaz,

I see the topic on Global Online is locked so I don't know if this should be posted and if so, where it should go, so thought to send to you and if you think there may be some coming here that were involved, and may want or need to see this, perhaps you could post it in the proper place for me? I don't know where to post it. There was someone interested months ago, don't know if they're still around or not.
I received it in my email today, Sept 29.

Thank you very much,
emily
*****************

Quote:

September 28, 2007

Attention: Affected Investors of Global Online Direct and All Interested Parties

Re: SEC v. Global Online Direct, et al.
Case No. 07CV-0767

Greetings:

This letter is to provide you with an update on the status of the Security and Exchange Commission versus Global Online Direct, Inc., et al. As we discussed previously, this office is not a party to the litigation in this case, but we were appointed to protect the interests of the affected parties.

The Receiver has uploaded (as of 09/29/2007) three important MP3 files to our web site for your review. The first is a synopsis of where the case stands today and a review of the First Amended Complaint. The second file is Mr. Grassmueck responding to the most common frequently asked questions we receive at our global@grassmueckgroup.com email address. The third MP3 is a brief update regarding the forensic accounting effort.

In addition to the records, the Receiver would like to provide an update on the assets and inventory held by Global. We are simultaneously evaluating the benefits and drawbacks of performing an auction versus the several parties who have shown interest in purchasing the inventory in its entirety. We anticipate a decision regarding the inventories in the near future.

Please continue to direct contact information updates and any questions you may have to our email at global@grassmueckgroup.com. We strive to maintain the large volume of correspondence we receive at this email address, and request your patience if our response is not immediate.

As always, we will continue to publish to our website as relevant updates occur and will publish more MP3 files in the coming weeks.

Respectfully,

John B. Hall
Asst. Director of Case Management
Grassmueck Group

global@grassmueckgroup.com • Grassmueck Group

This email was delivered to xxxxx on behalf of Grassmueck Group. To ensure delivery, please add global@grassmueckgroup.com to your address book.

Postal address: P.O. BOX 3649, Portland, OREGON 97208

Updates can be obtained here