Quote:
Originally Posted by 24oz
ask about admin honesty to those that have recently joined... as said that post was nothing but propaganda to attrack the last suckers.
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Here is the email from the admins and the earlier post that you call propoganda was not by the admins get your facts straight. I still think they were honest admins they paid nearly one million dollars out in 43 days.. Dishonest admins would have pocketed that much money and e-gold situation was too tough. In fact they threw a member out last week as she was trying to cheat and she went and complained and had 13 of LH egold accts blocked. That was the last blow.
but it seems some idiot who goes with username Hotbizz and her first name is Ann was reporting their egold accounts I think over and over will read the mmg topic a bit more thorough.
You know just don't use boiler plates and talk specifics all hyip program will go under .Even your shady private one.
Here is the email from the admins.
Our Beloved Knights and Knightresses,
We bring this unfortunate news with a laden heart. This is going to be a detailed and an honest email filling you in on the 'behind the scenes' that we admins went through for the past 2-3months, so please take the time to read it.
First off, our heartfelt gratitude goes out to alot of you who supported us through thick and thin and believed in us by re-purchasing and promoting our site. Thank you for the trust and confidence you have placed in our unique Knight system.
Its a great concept which fell prey to many variables and did not reach its full potential. Purchases and new membership did not trickle in as expected past few weeks especially after the egold situation.
On hindsight, as many of our knights know, we went through many obstacles from host complains and moving servers multiple times to false accusations to egold and having many of our egold accounts blocked then and even now. Even when we paid promptly everyday the site was up, we were victims of fake bad votes. There was also trolling especially from members who are paid and are in profit. The biggest blow of all were the 22 days of incessant DDoS attacks that took us offline for almost 2 weeks and put a dent on our success. Nevertheless, we paid for top-notch security which kept the site online despite the continued DDoS attacks. However, our worst fear came true and it was all a little too late by then.
Up until the DDoS attacks, site was doing phenomenally well to the extent that if that exponential growth had continued without any disruptions,
we would have build up a reserve so huge that it would have helped LightHalzen sustain for many months down the road. Even after engaging Black Lotus Anti-DDoS package, we were still being heavily DDoSed and site had to sustain further downtime. This time around, new members especially those who just joined our esteemed Knighthood, confidence amongst them diminished substantially and started to withdraw their rebates just to exit out of the program. Unfortunately momemtum lost from then on. Even then, we admins persevered and embarked on an extensive advertising and promotional campaign all over monitors and numerous forums. The quest to succeed was driving us forward.
Ultimately, the biggest unexpected blow was the news of egold indictment. Egold being our only payment processor until then caused a major impact on our program as many in the industry went on a panic mode pulling their funds out and even members didn't re-purchase as much as they used to. The egold fiasco had a ripple effect on the industry as a whole which further crushed the momentum as new membership was at a standtill and this only further crippled the site. After the egold drama, things did not pick up as we had hoped and thats when we finally dug into the reserve pool of funds. This was necessary as we were not at the stage to allow the LSP to dip below the MAX LEVEL. If we did not do what we did, there would have been a total loss of momentum which would have resulted in the sudden death of the site back then. We were hoping that the panic mode would die down but if you recalled, our thread at MMG was turned into an egold discussion thread.
Fear and uncertainty was rampant in the air. The first course of action we took was to quickly add another payment processor E-Bullion, hoping in vain that things would pick up. Unfortunately, this move did not bring about the results we had hoped for and we had depleted our reserves by then.
Which was why Stage 3 Revamp was vital but this led to a major uproar amongst the masses who started pulling out from the program. Our next move was to add
Alertpay but even then, we admins ended up using all of our admin funds to help boost the program, hoping in vain once again that the situation would improve with stable rates and cycle the shares out.
As its evident, its been a constant long drawn out battle for us admins with tons of variables which were beyond our control but yet, we kept coming up with various solutions and never once gave up hope. Someone else in our shoes would have bailed out long ago. We were determined to run this site which was why we continued embarking on our advertising and promotional campaign, buying banners and sponsoring vidcasts. Disgruntled members due to the reduced max LSP did not wish to vote anymore. Paying promptly did not matter anymore as people were more into high risky ROI gambling.
Even after 2 weeks of max 5% LSP, site still failed to show any improvement and since reserves were depleted completely, we could not complete our payouts yesterday as we had to wait the following day's purchases to clear the previous day's rebates. When current purchases and reserves are in negative and with purchases not trickling in as expected, we are left with no option but to close the doors of our beloved Castle. Some may wonder, this is a Profit Share site, why not just let LSP take a dip? This wont work out, because it will just cause a domino effect where the next day is 1% followed by 0.1% then 0.01%. If LightHalzen was launched last year, we might have succeeded. However, factors beyond our control such as the egold fiasco is something we never anticipated to hit us as hard as it did.
This has been a great learning curve especially in terms of getting the best security and which ads and promotions bring about maximum exposure for a site but most importantly, we had the pleasure and feel blessed to have met some of the best people left standing in this industry.
We would fondly miss our [milk] Mods and many of our superb Knights to which we can not thank enough. May God Bless all of you with abundance of wealth and good health.
Refunds would be impossible as reserves have been depleted to a negative level. And for those who wish to audit our egold accounts, please feel free to email us for login details.
We admins will still be around the forums and please accept our apology for those who incurred losses. We will still be here to answer any queries and concern you might have and are not going anywhere.
Sincerely,
LightHalzen Team
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