(Topic ID: 112377)

DP USA Refund - Still Want the Game


4 years ago

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#37 4 years ago

Hmmm, I requested a refund and DIDN'T get an email.

#44 4 years ago
Quoted from metallik:

More hypothesis: DP was trying to work out an arrangement with Phil, but Phil got annoyed with the process and took matters into his own hands by issuing refunds (and removing himself completely from TBL project) without DP knowing he was going to do it. Kinda like how he quit DP in the first place

Highly doubtful, and instead of having to form a "hypothesis" how about actually provide some real in from DP on what is going on! It's NOT insignificant.

I find it hysterical that one guy here that has requested a refund has NOT received one while everybody else who doesn't want one is getting one.

#46 4 years ago

Are all of these paypal refunds?

#52 4 years ago
Quoted from metallik:

Why doubtful? The deposits were sent to Phil. That's his email address in the recipient field, and I doubt he wants to give up control of that email. Therefore, the money needs to get transferred to DP's account and not his. This is one way of doing it, and the process mirrors Phil's departure from DP. Seems to be the most logical conclusion. We will find out shortly I'm sure.

So you are saying the deposits have been sitting in Phil's account this whole time! Wow

#65 4 years ago
Quoted from Concretehardt:

Crap the one refund I didn't want

Hey it's just pinball right! And I want one and can't get it

It's all a mind F

#73 4 years ago
Quoted from stangbat:

I was discussing this with a buddy, here's what I listed this morning:
-Nordman leaves Heighway
-TWD Premium
-Mysterious refunds appearing for TBL
-TH now slated for release in Feb/Mar
-MMR still MIA

Could all this be part of a new Twilight Zone episode?

I could add a few more to list

#81 4 years ago

F it, they'll get it worked out. Time to pop a top and not worry about it

#90 4 years ago
Quoted from vid1900:

Phil probably did not want to pay any taxes on the amounts, so he simply refunded the funds, rather than transfer them to DP and have it look like income.

As I drink my beer and ponder the meaning of pinball, this would not have been an issue for Phil anyhow, no way its "income" to Phil, and seems like a little coordination would be in order with DP.

The currency exchange with the euro, now that's a different matter. It was 78 on October 20th and closed right at 81 on friday. It's gonna be a costly error.

#104 4 years ago

It's non EU customers dealing with Dutch Pinball, like the guy above, that will have an issue, not US, you are correct.

#148 4 years ago

Maybe I'm missing something but if I was booted out of DP like Phil, the FIRST thing I would have done is gotten someone to take over DP USA and all those assets.

To not do so is Assinine! Don't know the whole story but who could blame Phil for no longer wanting to be liable for those funds and DP USA.

#153 4 years ago
Quoted from Phil-DP-USA:

that Barry had taken the €60,000. Jaap and I realized that we had no choice but to put back the money ourselves. I started buying parts from all over the world on my credit cards. Shipped stuff on my personal fedex account. all to cover his theft.
keep in mind, jaap and i had NOTHING to do with bride. this was a koen / barry project, but we knew, if this thing didn't ship, nobody would by TBL.

I think the dam just broke

#170 4 years ago
Quoted from Kcpinballfan:

How do you know this is true?

I wouldn't assume anything at this point. I'm just thankful somebody pushed the refund button. If everything all good, which it doesn't sound good, then you can always drop your $$$ back in later

It doesn't surprise me. As a lawyer I see this same story play out all too often, if it's really true

#191 4 years ago

I'm assuming there was enough money in the account when you pushed payment refund via PayPal? Since these payments were "deposits".

I requested a refund over a week ago and I don't care what anybody else does. I want my $$$!

#197 4 years ago
Quoted from burningman:

What makes you think that your money is any less safe than it was yesterday?
Companies...not just pinball companies use their assets to fund projects. This is no different.
All that has really happened is someone decided to send deposits back that were not requested.

I respect your love for this project but you can't be serious? Hopefully it all works out but until it does I'll take my funds that I requested before all this BS. Lies, theft, deception is not what anybody wants to hear

#208 4 years ago

Phil, please answer one question.

Is there enough money in the account to refund all the people that you "refunded" and that asked for one?

#298 4 years ago

Well I guess it's clear Barry and Jaap lied to me in an email stating they would "initiate the refund process" over a week ago. Clearly had no intention on getting it done through DP USA.

I hope you are successful in your battle against cancer Phil.

Does anybody have a direct email or number to Barry?

Post edited by iceman44: Edit: I retract my statement here. I'm putting all of this on Phil

#300 4 years ago
Quoted from bajapanda:

Because if you don't, there's a risk that this bank run, whether justified or not, can put the company and the game itself at risk. If everyone withdraws, where does the project itself end up without any backers that believe in the title and the game?

That's their F ing problem. Maybe the dozen or so left can still get pins made and go from there

#329 4 years ago
Quoted from RTR:

Would also like to see Phil completely out from a legal perspective. Very sloppy handling on DP's part to leave a disgruntled partner in place with keys to a lockbox. I cannot believe that my $4500 sent a week or two ago went to a guy (Phil) that was supposedly out of the company. Not good business.

I said it before, "assinine"!

As for liability, I'm sure Phil doesn't care much about that as he battles cancer but there is no doubt there are some issues that have been created today that I can think of.

#332 4 years ago
Quoted from highdef:

Universal isn't going to walk away from royalty/licensing revenue, especially on an older property such as this one.

It's still chump change for them.

#336 4 years ago

I'm gonna post this response I just got from Barry because I think it should hopefully calm some shit down.

"Just read your post on Pinside. I'm really sorry people are getting involved in this.

Like I said in my email, I really wanted to work this out as adults with Phil, but he decided to do this.

As for your refund. Phil was in charge of the Paypal and I asked him multiple times to do the refund to you. He just didn't responded.

I'm sure you will get your refund and again I'm really sorry this is happening. The only thing I want to do is make an awesome game. "

Don't mean to post a private email but I really appreciate the response. And I agree after thinking about all of this, Phil could have handled this a whole lot better. They have created an awesome looking pin.

#341 4 years ago
Quoted from clg:

Not saying they will walk away more that they will maximise. DP has set an expectation of what it will look and sound like and it may cost them to deliver on it. Universal is in a better negotiation position now.

Not really, 100% of nothing is ........nothing. I'd be happy to negotiate with them, its what I do

#348 4 years ago
Quoted from pinghetto:

I think its great that Barry got ahold of you. But, I wish he would post here directly. I want to stay in on this, but there are a lot of unanswered questions.
I have $6500 tied up with DP right now (I take full responsibility for that) between BoP and TBL. I didn't receive a refund today from Phil. And I cannot dispute with Paypal because its past the grace period.
So what now??? How do I get my refund?? Who do I contact? Because (as Barry's letter stated), a dispute with Paypal is not possible.
I'm just looking for answers. $6500 isn't pocket change to throw away or at least know where things stand.
I'm so bummed. Was so excited to see what was going to come out of New York this weekend... Now this. F*CK!!!

Things will looks a whole lot better in the light of day.

Phil is going to have to get his ass in gear on Monday to clean this mess up with paypal. He is on the hook and personally liable, don't worry.

That said, I'd volunteer my time as an attorney/cpa to step in and work out whatever issues there are with Universal for DP if that would help bridge the gap. Not really a big deal.

#379 4 years ago
Quoted from Gusphan:

Phil just reached out to me, saying he's working to get the refund I requested from Barry earlier this week.

Me too, I think we need to find a way to let Phil move on with his life and Barry and crew to get this pin made.

Like I said before, I'll volunteer some time to help make this happen on this side of the pond. The legal BS of licensing and approvals should not be an issue.

#382 4 years ago
Quoted from Phil-DP-USA:

What would you do, if you went into a legitimate business with your friends, investing about $100'000, and a year's worth of (pretty darned good) free labor. You then found out they were doing something illegal. You try to talk them out of it, but they keep doing it. You scream, stop, but they keep doing it. You say fine, I quit, keep the profits, keep the money, just please take my name off the business so I don't get in trouble if you get caught. They don't.
Yeah, I disagree.

Here is what I would do.

Let's negotiate a promissory note with DP for all the $$$ you have invested into the project, payable out over a reasonable amount of time. You get paid back if they succeed.

Some of it might be sunk cost but hey, anything is better than nothing.

The best outcome for you and everybody is that DP is successful.

#393 4 years ago
Quoted from Phil-DP-USA:

Ok, Ice, you're from Texas, right? And that's still a part of The US, as far as I can recall. No lone-star nation yet.
You want the job?
That also takes care of Jaspers suggestion that I find someone myself.
Two birds, and all.

Texas is its own nation!

I'm willing to help all you guys out. I sent Barry a reply so let's see what happens. Maybe I can help mediate all this for the benefit of everybody.

#684 4 years ago
Quoted from jrivelli:

Agreed. Sounds like some of these guys can clearly make a cool pinball, but lack business sense on such a massive level this pin may never come out. People tend to forget you can't just simply design the pin and thats it. Their is funding, support, marketing, sales etc.

Where have we heard that story before? A few other "boutique" guys? Imminent implosion? Doesn't have to be that way if guys would just get some help.

#1180 4 years ago

Joint and several liability. Piercing the corp veil could easily be a possibility here depending on how funds have been used and not following all the corp formalities

Always use LLC as better asset protection entity and flexibility for tax purposes. Maybe they filed as S corp. anyhow not the best option.

I wouldn't want to be on that DP USA hook either.

#1183 4 years ago
Quoted from chuckwurt:

Actually that is exactly what it means to be an owner of a corporation. If this was a LLC instead, that would mean that the partners are protected from using their personal assets to pay for the company liabilities.
They are all liable for 1/3 of the liabilities of the company. However, anything can be agreed upon. If the parties agree that the 2 remaining members will assume all the liabilities of the 3rd member, then that is okay. But right now, it seems that Phil is a 33.3% SH. that means he is entitled to 1/3 of the assets, liabilities, and equity of the company. If he is unable to pay those liabilities either with the assets or the equity he has in the company, he is personably liable.

This is not correct

When I get some time I will clarify how it works and how it could easily be resolved.

#1468 4 years ago

Wow, a whole lot has transpired since I've been able to view the amazingness of this thread.

First thing, to clear it up for everybody, here is the difference with who is liable for what:

What DP USA should have is an LLC taxed as a partnership, they can share profits and losses disproportionately to their ownership %'s, certainly an enticement for any "new owner" coming on board.

With an LLC, depending on the state law, all you can get is what's called a "charging order" against the member's interest. What that means is that they don't get squat, other than a K-1 and the profits that go along with it, WITHOUT the cash to pay the taxes, thus, the best asset protection vehicle out there.

With a C corp or an S corp the creditor gets to step into the shoes of the shareholder and "take over" the operations of that ownership %, voting privileges, etc.

As for PERSONAL LIABILITY, there is no liability with any corporate entity from a personal standpoint UNLESS the creditor is able to pierce the corporate veil, no matter what type of entity it is.

You pierce the veil by the owners NOT following the corporate formalities, shareholder meetings, proper accounting practices, etc....

In a "partnership" the liabilities are "joint and several".

They should shut down DP USA, Inc., distribute the deposits back to the original depositors, file the articles of dissolution, get a certificate of good standing from the comptroller and it could be done tomorrow.

Then DP should set up a proper entity here in the US, as an LLC, with Roger or whomever as partner and move the fuck on. It's really not that F ing hard and can be done in a few days.

Give Phil a promissory note for what he's "out of pocket" and be done with it.

Next, before anybody dropped another DIME into this project, i would expect a "trust account" to be set up with monthly accounting and full disclosure to all the owners as to how the funds are being spent.

Make sense? Really simple yet transparency seems to be taboo with pinball.

#1475 4 years ago

See post above, demand a "trust account" with a 3rd party administrator like Roger and monthly accounting of your funds.

Your $$$ should not go to fund other projects or an unreasonable amount of monthly overhead without you knowing about it.

#1649 4 years ago
Quoted from burningman:

Absolutely I would.
Really whats the difference? If DP came out of the gate saying that Sharpe was on board everyone would have said, "Daaaauuuuumn! They got the big Gun!"
Now they are saying, "we got the big Gun"...I felt confident before, but now....sheeeeit..our worries are over dude.

When we want something really bad our human nature has a way of rationalizing anything.

I'm in the camp of let them build it, see how it all plays out with licensing, production, code etc and I'll happily wait at the end of the line with money in bank and ready to go if successful.

I had made that decision though before all this mess. Thankfully, refund hit.

#1672 4 years ago
Quoted from chuckwurt:

This depends, and it not always true. I will be posting something soon to hopefully put this to bed and help anyone on here who is deciding to start up a business try and decide which type of entity to create.

It's already put to bed, an LLC is the best option, period, unless you are going to be a publicly traded company which requires a C-corp. That's State law and for asset protection.

For tax purposes you can elect to be taxed anyway you like, sole proprietorship (if one, hence "sole"), partnership (two or more), c-corp, s-corp, take your pick.

That simple. No need to make it harder than it is.

Have they said what the "deposits" will be used for? Salaries, other overhead? Or just for the direct cost of the build?

Are some of the TBL funds being used to fund and finish BOP 2.0 as an email from Barry to Phil depicted?

Good luck securing any recourse against a Dutch company if DP USA goes away and not re formed. I'd want to have a US domiciled entity if I was a US customer sending in $$$.

#1695 4 years ago
Quoted from pinballslave:

Phil said this, you can still see it in this thread:

Barry had taken the €60,000. Jaap and I realized that we had no choice but to put back the money ourselves. I started buying parts from all over the world on my credit cards. Shipped stuff on my personal fedex account. all to cover his theft.

And the reason Phil did it, according to him, was that Barry didn't "have any money" and I guess needed the 60k euro to fund living expenses.

#1713 4 years ago
Quoted from chuckwurt:

I agree that LLC is probably the best route most of the time, but that is not always the case. That is what I am trying to help with.
What about when owners don't want to be subject to SE tax? or when the owners want to have disproportionate stake in the company? Not as black and white is all I am saying. Depending on your individual situation, you might be better (or required) to start one entity over the other.

You are getting confused. You can be an LLC and elect to be taxed any way you want. It really is black and white. Partnership is the best way. Lowest audit chance and can share profits and losses disproportionately.

As a cpa/lawyer for a long time I know what I'm talking about and I also know how easy it would be to unwind this shitstorm and reset.

#1715 4 years ago
Quoted from iceman44:

You are getting confused. You can be an LLC and elect to be taxed any way you want. It really is black and white. Partnership is the best way. Lowest audit chance and can share profits and losses disproportionately.
As a cpa/lawyer for a long time I know what I'm talking about and I also know how easy it would be to unwind this shitstorm and reset.

Btw, if you own the company you pay the SE tax no matter what.

Good link though. Especially for tax deferral options. That's where you must choose wisely!

#1858 4 years ago

Somebody post the kindergarten cliff notes for TFA so he doesn't fall asleep trying to figure it out

#1948 4 years ago

Can't wait for this game to get back on track. They now have a chance at a reset and setting it up the right way.

Because of how this all went down, if I were DP, I'd come up with a plan to disclose how the funds are going to be used and safeguarded by a third party trustee of some sort, to give confidence to the people that might want to send the money back in.

Spooky has earned the confidence of being trustees of our funds in delivering a game the way it was supposed to go. If that happens with DP and TBL, I wouldn't have a problem giving them funds without questions in the future.

For now, they should do everything in their power to make sure that people's deposits are protected and disclose the steps that they are taking to make sure they are.

And when and if someone asks for a refund, which is their policy, they should state that such refund be processed within 48 hours as a policy.

I have had to wait 9 weeks to get my TH refund back from JJP.

#1965 4 years ago
Quoted from Whysnow:

For all the questions and concern about other manufacturers, missed deadlines, etc..., this is the first time that I have seen and example where the books a really such a mess that your money may not be secure or even properly accounted for.

No shit? It's because one of the owners outed the whole deal.

Where else has that happened or there has been any transparency of any sort at all? Jpop and SkitB two of the absolute worst offenders.

#1970 4 years ago
Quoted from Whysnow:

Maybe other companies are doing the same thing and we just don't know about it?

That's my point, just because "you" think and "you" have confidence in Skitb and where that money is or isn't, you just don't know unless you've seen his bank statements. He did say "money sucks" so not sure how to interpret that one.

"Very organized" and Skitb mentioned in the same universe is a massive stretch, don't you think?

#1979 4 years ago
Quoted from TheFamilyArcade:

Whaaaaa? Too much noise and hot air in this thread. Sorry. I'm sure it's all terribly important though, and that you're leading the way in that dept. Bravo!

Pay attention TFA, you might actually learn something

#2009 4 years ago
Quoted from spfxted:

Let me add something of value to this thread....

Gotta be careful staring at that one too long, the wife keeps walking by.

I'm putting that one in the "major value" category!

#2228 4 years ago
Quoted from foxtj24:

I was told from a DP employee to expect an update from dp before the next payment is due.

Well that would make a lot of sense wouldn't it. More updates, more warm and fuzzy feelings, more payments made. Good for DP

I wonder why others don't get that basic concept?

#2277 4 years ago
Quoted from Concretehardt:

Well look what the cat dragged in today
(Mailed from Dutch pinball USA on Dec 23rd)

image-786.jpg 25 KB

That's a good sign, getting t shirts out to everybody may seem like a small thing but it appears they are getting on top of things, getting organized and moving on!

#2332 4 years ago
Quoted from bemmett:

So I went to my payment page on DP earlier today and it has a status on my payments as "reversal cancelled" then had an option to cancel or retry next to 3 of my payments. I was excited as I figured my refunds were finally processed but then it won't let me Retry and when I hit cancel it just shows the payment as being due but I have NO refund still in my Paypal.
DP needs to get a f-n update out this is just annoying at this point and a clown show.

Man I feel for you guys. I got lucky I guess getting my refund.

They need to put out a state of the Union message for everybody.

#2477 4 years ago
Quoted from fattrain:

Unfortunately the last month of the year was not good. Phil decided to leave the company in a rather unusual way. We took several actions and we are happy to welcome Jeff Marchetti (CGMA, CPA) to help us restoring DP USA Inc.

You guys have glossed over the most important part of the whole F ing email.

You have a CPA, that has a fiduciary duty to everybody involved now, to get the accounting straightened out and headed in the right direction.

Researching this guy, he has over 25 years of experience and the "G" in CGMA stands for Global.

"Restoring DP USA" means just that. They and everybody else will have a full accounting of funds received and disbursed and be able to straighten all of this BS out.

If it were me, I would demand to know how much liquidity is left on hand as a % of deposits for production purposes before I put another dime in.

Why not wait until they get their own mess squared away before you start piling more dollars in so you can get the "achievers plaque"?

In any event, everybody should view this part as the biggest step to them getting it together.

#2482 4 years ago
Quoted from DnDPins:

DP is a private company...why do you think "everybody else" will get a full accounting. The only thing people got with preorder was a statement of refund, not a commitment to full accounting. I agree that if they are well funded and were to provide a full financial accounting it would really help. Unless you can truly stomach the potential lose of your dollars, it is best to get your refund and buy later if they manage to produce the game.

I'm saying if it were me, I'd give everybody a full accounting after the numbers are tallied up to give people peace of mind that the assets are there, there is a responsible person in control of them, you'll get a prompt refund if asked for one going forward, etc.

That would generate a whole lot of goodwill going forward a lot more sales but I really doubt they will do it because it makes too much sense and this is pinball after all.

Yes, like myself, I would get the refund and buy later if they manage to produce the game. Somebody has to fill the "early achiever" boat.

The more transparency, full disclosure and constant communication you give to buyers/potential buyers, the more apt people are to stay in. I'm not holding my breath for that though, for any pinball maker.

1 week later
#2683 4 years ago
Quoted from inhomearcades:

obviously your not a business owner. You don't let your customers suffer at the hands of the people you decided to start a business with. You take care of your customers and get your shit together behind the scenes on your time and dime.

Amen. Handle your shit or it goes to shit!

1 week later
#2922 4 years ago
Quoted from Razorbak86:

Shortly after the petition is filed, the Company's officers would be required under federal law to file a comprehensive Statement of Financial Affairs ("SOFA") and a detailed Schedule of Assets and Liabilities ("Schedules").

To further clarify this statement, the Debtor/TBL would have 21 days under federal law to answer this "petition" which they most assuredly would.

Then there would be a hearing set up to determine the validity of the petition and whether or not the judge believes there is sufficient evidence to allow the bankruptcy to move forward. "Shortly" can mean months.

For the deposits to qualify as a "claim" under 11 US code 101 is as follows:

"(5) The term “claim” means—
(A) right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; or
(B) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured."

Thus we are talking about proving up subsection (B) and breach of performance via promissory estoppel or some other remedy.

Plenty of material for TBL to muddy up the waters and delay this whole thing for months, and then IF by some miracle the judge allowed the bankruptcy to proceed, if DP hadn't gotten it together, DP could easily shift it to a Chapter 13 and pay off the deposits on a schedule and over a much longer time period.

A involuntary bankruptcy filing can't hurt TBL anymore than it would hurt Jpop, try it out and see what happens, and who the losers are.

As long as they can avoid personal liability, they could just go along with shutting down the business, pay off the debts and distribute the assets and THEN open up under another entity IF anyone would ever give them a dime.

So at the end of the day, the damage these guys do to themselves by lack of transparency and communication goes WAY BEYOND any the impact of any legal redress you might get in the courts.

The lesson from Skitb, DP and Jpop? Buyer beware!

There are SIMPLE steps that could be put in place before pinheads give these terrible stewards of our funds anything.

It starts with a "TRUSTEE" and escrow in the first place. If you need the "Bankruptcy Trustee" to take over, then, well its OVER anyhow.

2 weeks later
#3141 4 years ago

What a F ing disaster this is.

The only people talking are the people here, not DP, just the one's making excuses for them.

#3359 4 years ago

"My take is simple: If you're happy to be hear when people are lining up to stuff cash in your pockets then you should be happy to be here for those people later when they have questions."

Not that hard of a concept to grasp.

It's clear some people in pinball are so dumb they just can't stop stepping on their own dicks.

I guess that's why they call him Rick the Dick.

Count me in the group that will never buy from PPS. Maybe after the fact, 3rd party, but I doubt it

With DP, at least they finally provided a good update based on what everybody suspected.

The CPA should be able to get the $$$ issue straightened out asap, like yesterday, and get people refunds that want one

Still, if they don't do a MUCH better job of communicating in the future I'm crossing them off my support list too

1 week later
#3432 4 years ago

I'm happy with my refund and will go to the back of the line in all fairness.

Hopefully this gets moving soon, unlimited production, I can wait, lord knows I've done it before.

#3651 4 years ago

Come on Dudes......it will ship when it ships, at least shit is coming together!


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