(Topic ID: 283944)

RAZA Pre-order Club: A Cautionary Tale

By NoMonkey

3 years ago


Topic Heartbeat

Topic Stats

  • 3,299 posts
  • 253 Pinsiders participating
  • Latest reply 2 years ago by Nysbadmk8
  • Topic is favorited by 73 Pinsiders

You

Topic poll

“Which Edition Did You Order”

  • Arcade 27 votes
    52%
  • Xtra 25 votes
    48%

(52 votes)

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Topic index (key posts)

5 key posts have been marked in this topic

Display key post list sorted by: Post date | Keypost summary | User name

Post #2440 Link to SEC filings story. Posted by BMore-Pinball (2 years ago)

Post #2468 Story of SEC indictment Posted by DakotaMike (2 years ago)

Post #2527 DR never owned the Zidware entity per report. Posted by wcbrandes (2 years ago)

Post #2676 Summary of DR outlandish things. Posted by TheFamilyArcade (2 years ago)

Post #2864 Charging back a RAZA preorder Posted by Mr68 (2 years ago)


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#79 3 years ago

Curious who's the distributor of these games and what's the actual price of the machine with shipping and tax?

5 months later
#1445 2 years ago
Quoted from NightMutilator:

I have not cancelled. I blew my chance of getting Alien back in the day for a huge discount if I waited, since I had a direct biz contact with them and still kick myself everyday on that. Same thing happened with Big Lebowski. Blew it and cancelled cause I lost my patience. My view is that it's like the stock market... you gotta just keep that patience, and not buy into all the various personal opinions on it... and go with your gut and not the speculations. With only 130 made it's not going to matter what the politics are behind the game, it will be a collectors item whichever way it goes... well, of course as long as "some" actually get made.

So by that rationale, why isn’t Cosmic Carnival a collectors item with only 25 made?

1 month later
#1931 2 years ago

lawsuit with investors.....not going to end well

#1959 2 years ago
Quoted from DakotaMike:

It's funny, cuz preorder folks COULD open a private FB group, but there'd be nothing to talk about. The group would be pretty quiet until the next update. And who knows how long till the next one.

Over/under odds next update by Dec31

3 weeks later
#2445 2 years ago

This is just sad. Overall way more money out than with Dutch Pinball but the only bright side....it's a lot less money out from Pinheads (it still doesn't make it feel any better though). Just sad!!!!

#2446 2 years ago
Quoted from mrbillishere:

Highly doubtful it's the Investors of the DR plans that are suing... if I were a gambling man I'd put my cash on it being some party that had prior involvement with Zidware trying to shake the bushes. Not that I have any clue about legal stuff, but I thought about the circumstances whilst speculating about the magnitude of this complication. it'd have to be a real doozie to ultimately have any bearing on me eventually getting my games.

wrong

17
#2447 2 years ago
Quoted from iceman44:

Wrong. There are no direct investors.
I like this update, it just means the saga continues and it’s going to drive the looky lou’s hanging onto failure absolutely crazy! Minds will be blown.
Odds are Billy, Cointaker or a group of wronged suppliers
Meanwhile, patience. I’ve got a lot of it
Been 7 years or so now? What’s another wait time
In fact, I’m popping open a beer on my way to Maui and I’m gonna enjoy this good drama!
How many theories or death knell posts will we get now? Ahhhh yes. It’s a beautiful thing

Wrong

#2449 2 years ago
Quoted from Scandell:

You and I seem to be the only two people that grasp how the 575 fund works… how many times do we have to spell that out?

Glad you and Iceman grasp how the funds work.....apparentely Robert didn't though!!

#2457 2 years ago
Quoted from Cheeks:

Does anyone have a bridge to sell me? You don't even need a compelling sales pitch, apparently.
I'm an original Zidware customer, burned by Jpop. I decided to gamble on deeproot. Went for it with the Xtra. Figured even if I didn't like it, it was rare and I could sell it for a modest profit as compensation for my pain and suffering. Whoops!
I'm pissed, but whatever. I'd be REALLY pissed if I didn't realize it was a gamble I decided to take (could be read as my ignorance).
So anyway. Idiot alert! Send me your hugely expensive scams, I'm sure I'll bite.
Paging any Princes from Nigeria - I'll pay you cash for that check you can't cash.

Please everyone upvote his post…this is a great attitude (staying positive). There’s much more major issues in the world today.

#2508 2 years ago
Quoted from iceman44:

I am surprised to see this come down when it did. Figured it might take longer to play out. Although all it took was a few investment advisers that didn’t like the updates they were getting after placing their clients money with the 575 fund.
It’s not just Mueller, this is going to have far reaching consequences for all of those people. The people that dropped $58 mill into the fund had no idea about pinball and their advisors are gonna pay the price too.
$58 million. Like I’ve said many times before, pinball was just the sideline story to the much BIGGER picture
It looks like Bobby is in BIG trouble.
Whatever assets there are will be sold off and $$ collected to repay the investors in whatever way that means.
While it appears DR and Bobby are finished let’s see who and if someone steps into the void to pick up these games
How about those PPP funds? Don’t see this one ending well.

In regards to the PPP funds. Basically there’s really nothing that can be done but demand payment. If payment is not made it’s really no big deal because the company is defunct and with all PPP loans there’s no personal guarantees attached. I’d be surprised if the first round of PPP funds haven’t already been forgiven by the SBA. Now with round 2 of PPP funding I doubt it’s been forgiven yet. The SBA will reject forgiveness, Deeproot won’t make payment, the bank will try collecting off the SBA guarantee. In this case I can guarantee a T wasn’t crossed, or an I dotted. The bank will absorb the loss without the PPP guarantee

12
#2546 2 years ago

Did they at least get the UL certification????

1 week later
#2874 2 years ago
Quoted from Jvspin:

Yes you did, along with commentary.

Man can Ice scrub and purge all of his all post???

#2916 2 years ago
Quoted from Lermods:

Yes they do, and they are last as an unsecured creditor. They take the hit.
I’m curious under what policy a credit card company like Amex refunds a customer for a deposit (or paid in full) when the company doesn’t deliver the goods, particularly after some time has passed. I’d think the cc company would want to investigate before refunding. I don’t think it as easy as just calling the credit card company and saying I want my money back and the next day it’s in your account….or maybe (probably) I’m wrong here. It’s different than purchase protection AFAIK, such as when you buy something and it breaks or is stolen. Moreover, I thought there were limits on the protection in dollar terms and time, often like $1000 and 90 days. I couldn’t find anything on the Amex website. I’d be interested to learn about it. It might make me change my use of credit cards for large purchases.
Glad yelobird was able to get his funds back, seems Amex has some great customer service protection in place! I might have to get that card.

What happens is a charge back. Deeproot would have been set up with merchant processing (credit card processing). Typically they take a card as payment and within a day or so Deeproot would have gotten a deposit in their bank account. In this case on a charge back the money would be taken from Deeproots bank account by the merchant processor to give back to the credit card company.

#2925 2 years ago
Quoted from Lermods:

Right, but what if there is no money in the account they have registered with the cc company or closed the account and moved the money elsewhere? Given the spending by RM that was detailed in the SEC brief, I’d guess that deposit money was long gone. Weren’t deposits taken over 8 months ago?

The credit card processing company eats it if they can't get the money back from a bank account....depending on the amount they could go after the merchant (Deeproot).

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