(Topic ID: 112377)

DP USA Refund - Still Want the Game


5 years ago

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  • Latest reply 4 years ago by Xerico
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#1502 5 years ago
Quoted from iceman44:

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.

A++ dude, would read again.

And here I thought you just drank beer around here!

Thread is a rager!

#1912 5 years ago
Quoted from brundaged:

Is anyone else nonplussed that DP's most-recent email laid all the blame for this on Phil?
I was hoping for more leadership along the lines of "We screwed up. We're sorry. We're going to make it right."
Instead they said "Phil screwed us. We're going to make it right, if he cooperates."

really have to agree with you there. if I had money tied up in paypal and got this email I would be beyond pissed, whether I wanted a refund or not.

that said, I don't think it unreasonable to assume that once Phil is done with his treatment he will refund those customers who still have money tied up in his account.

#1997 5 years ago
Quoted from HunchbackHodler:

This Lebowski movie is not a merchandising juggernaut

Maybe not a "juggernaut", but it's certainly no slouch.

amazon.com link »


1 week later
#2392 5 years ago

I considered long and hard preordering this game when it was first announced, and I'm so very glad I didn't. I considered it because of the refundable preorders.

Really feel bad for everyone who wants out and hasn't gotten a refund.

Quoted from Hwawonyu:

If you want to make a run and slow it down and be part of hindering vs helping then its a shame you got in.

What's really a shame is to try and make people feel guilty about wanting their money, as if they are somehow abandoning the hobby / not supporting pinball. They are a company offering a product, and there are customers. Emotion does not need to factor into it.

Quoted from Hwawonyu:

More importantly we now have Roger Sharpe involved so its a safe bet those concerns are being more than handled.

Also, not trying to single you out, but sentiments like these have abounded and I just. don't. get. it. So what? Roger Sharpe is a cool dude, and has an amazingly successful history in the business, but the man is not Jesus. Shaking out license issues does not liquidity, or a pinball machine, make.

#2394 5 years ago
Quoted from Pdxmonkey:

What the response if the refunds are honored in two weeks?
Making it a 30 day refund.

I think that's completely reasonable! Was really just trying to address the "shame on you for not supporting pinball by wanting a refund" attitude.

#2474 5 years ago
Quoted from RobT:

A plaque doesn't sound like much of a carrot to me. Am I missing something?

DING DING DING! Give this man a prize.

I think overall a pretty condescending update.

Quoted from sd_tom:

Oh please.. Nobody is in or out based on that plaque.. Let's be real. Its just a token of appreciation for sticking it out and nothing more.

Respectfully disagree. One of the huge selling points/marketing points of this pin is that it would be unlimited. Personally, I wouldn't care, but there are people who will (and likely do).

1 month later
#3133 4 years ago
Quoted from Pinhead1982:

Heard from a reliable source that New Shit news letter should be out this Friday at some point.

48 hours it much too long to wait. theories on what it will say? /sarcasm

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