Hot News about "Top Management Quitting at StudioTraffic"

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Úterý Březen 14 08:13:42 CET 2006

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I received this news few hours back. Our top management has resigned. This means that offices in US, Canada and Spain will be closed.

With this shocking news and with recent problems with stormpay, I am sad to inform some changes which will affect members.

Members, who are in profit, please stop surfing as we can no longer afford it. We hope you will understand that we have done our best and this is something similar to natural disaster which
is beyond our control. If you have funds in studiopay or in your studiotraffic account, please take note that in our TOS, we have never guaranteed payout. Your payout is determined based
on our advertising revenue. Less advertiser revenue means that we need less people surfing. You can, however, still use your account for advertising purposes.

I am sure there are people who lost money with stormpay. We are victims too. Stormpay is still taking money from us everyday, we are not sure when they will stop and have expected that
we lost our reserves (hundreds of thousands) we have with stormpay.

All is not lost as we can still depend on local funding from our offices worldwide. However, with top management resigning and offices closing down, we will lose almost 90% of funding.

Members who are not in profit, please send email to notinprofit na What we will do is that in the coming months, we will seek venture capital and raise funds. Once we
raised these funds, we will send it to you. Do take note that we are not obligated to do refunds or to send you back what you sent in. When you upgrade, you are getting accesses set with
different account level so you can advertise your products or services better. When you upgrade, we have a refund policy where we will return you what you sent in, in the first 7 days. After
the initial cooling period of 7 days, we are not obligated to do any refund as it is assumed that you accepted what you received.

We are doing this because we want nobody to lose any money with us. Please give us a reasonable time to do this as we need time to get it arranged. You can, however, still continue to
use your account for advertising purposes which you have paid for. There is no need for you to continue surfing. All of you will automatically receive shares to all studio programs. If we
cannot manage to raise venture funds, we will sell your shares in all studio programs and pay you back so it is the same.

We will close down studiopay website for a couple of months because with Studiopay staff resigning, we do not have enough manpower to handle it. We will do a complete restructuring
with a new management team in it. Once ready, we will bring studiopay to public.

I hope all members will understand that we have done our best and what happened is something beyond our control. All studio programs will continue to run. We will continue to allow
signups to basic accounts. Most of our current advertisers have mentioned that they do not need high level account holders to surf. As long as we can get a lot of people to see their ads,
they are willing to continue to advertise with us. Our expenditure will be reset to the lowest because we will be getting only basic accounts members to surf.

After this, we will, most likely, have less than 15 staff working on this. Due to shortage of manpower, we can only attend to non profit members for the time being. Please send to
notinprofit na

As for other members, once we get everything back, we will continue to get you back to surf. Please give us some time to work things out. Please do not send emails because we do not
have enough manpower to handle it.

Members please do not worry. As long as we start afresh, we are confident to turn things around and it will be better than before. Many of our staff has indicated that they would like to
continue to help out without any payout. If you like to help us further, please email to support na

I hope all members will understand that we are doing the best we can. We will continue to work hard and make sure no one loses money with us.


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