Weekly update 9.11


#1

Hi Community,

Sorry for taking longer than some of you expected to get back to you. Though we were told that the money is on its way there were some issues that prevented the transfer. I am constantly trying to get in contact with the investor, and will get back to you with a detailed update when I have substantial news.


#2

@Konstantinos why has the community link been taking off the website?


#3

Kool story,kool transfer issues which are happening.


#4

Are you getting worried that you haven’t been able to contact the investor? Sounds odd that for an investor who was fully on board a while back is now not replying to your messages.


#5

That reply sounds very much to me like the investor has vanished. The phrase “I am constantly trying to get in contact with the investor” suggests to me that they have gone AWOL


#6

Less then one month until the order was given a year before.
And still there is no real time table…


#7

What did I say earlier? check my posts. Nothing is going to happen before December 2018!!!
I had also said that watching this ship crash and burn will be very painful…well, the pain has just begun…
@Konstantinos Do you want to now share any of your wisdom with us???


Weekly update 30.11
#8

I’m guessing everyone navigated here using their history. There is an Eve V reddit, and maybe someone could make a discord server just so we all have a way to stay in touch if the community goes to the wayside?


#9

http://eve.community is how I suspect most people come here. The community isn’t going anywhere.


#10

Hi @Konstantinos,

you said on the 14.09 update:

Before we got the investment agreement signed we could not risk disclosing more information on where we stand in the investment process.

So is it accurate to say that you have a legally binding agreement with the investor? And you mentioned in the same update that you had spent a lot of time choosing the investment partners that you felt were the best fit for Eve. I would have thought that this process included doing due diligence on those partners, and confirming their financial ability to fulfil the investment. Can you confirm if this was done also?

Because it is difficult to reconcile the 14.09 update (where you say you have a signed investment agreement with a partner who have chosen during a protracted selection process) with what you have reported this week (an investor choosing to pull the plug at the last minute and being unable to contact said investor).

I appreciate that you are constrained on what you can say, but the level of information contained in your last two updates is not sufficient imo, and having once again failed to meet a delivery date your customers are entitled to expect better.


#11

Hi @Helios

Can you give us more background on how it was decided to take the community link off the homepage? Also, how do you anticipate new customers will learn about the community?


#12

Anyone who knows more than me about stuff like this, feel free to answer.
I understand having things go wrong, but just the sheer amount of delays and problems seems absolutely absurd. All the other delays and problems I didn’t doubt, but this one… What could have stopped the money from transferring??
I’d like to think that Emdoor and Bottleneck are legit (though I can’t find any real info on Bottleneck). Did both of them get cold feet? Did one or both stop the money?
@Konstantinos How could you loose contact with the invester(s)? Why aren’t you all on a constant chain of communication??

This delay makes no sense to me. It’s been, what, 4-5 days since the money should be there? Why in the world would the investor(s) go radio silent? They’d have stake in the company as well, now. They should be pissed too if the bank is being uncooperative. (Unless it is on the investor(s) end, in which case why would they refuse to communicate their cold feet?)


#13

You can read my thoughts on it in last week’s update topic.


#15

Right.

So the community link was moved from the homepage but the community manager wasn’t consulted or even notified.

And this happened around the time the company CEO explicitly stated that the community was a concern to the investors.

But we shouldn’t be worried.


#16

Due to the sums involved, banks/finance institutions have checks/fail safes in place to prevent things like money laundering, tax evasion etc. It’s not fun and not quick to deal with.


#17

I ask Google. For example money from Germany to China can last up to 3 weeks. The China government monitors a lot. And big amount of money is one of it.


#18

Generally, please do not read too much from between the lines and get all suspicious - or even paranoid… Things just happen in life and business, we all have experiences like that.

It is quite common for people with a lot of money to have a lot of commitments and travel i.e they are very busy. So these kind of people may not always be the simplest to reach. And this investment agreement may be just a tiny speck in his investment portfolio, so don’t expect him to pay too much attention to it.

Also be aware that an investment agreement usually mainly protects the investor, not the investee company i.e. EveTech. The risk really is with the investor and hence it is common to protect him with the agreement, not the other way round.

In all essence this means that an investor can pull out of the deal with very little consequences or none at all.

I am hoping that the investor isn’t having cold feet and there are just more legal and banking hurdles to cross. Difficulties in transferring large sums of money from country to country are not imaginary hurdles, but very real in the modern world of banking.

Just hang in there, I am confident that product deliveries, refunds and other things do get eventually sorted out.


#19

At this point, perhaps… Last last week news is that the money is being transferred, then it takes a 5-7 days for the process to be wired, and now this. That’s technically already 2/3 strikes… God knows how long this could spiral in… I hope not before Christmas/December (or 2019, that’s really GGWP).

I’m sure Eve is trying, but the more this drags on, the more the suspicion/customer anxiety. This is no longer an issue of is the V worth it or not, but the promise of V being a middlemen free product is basically torned. If there is no longer an advantage of buying a V and it’s availability is questionable; what’s the point of investing if there are no future “edge” on customers (or customers at all)


#20

Good to hear :smile: I know the current focus of topic on the forums isn’t what they were made for but once everything has gone through (orders, refunds etc) they will hopefully get back to what they were made for, in designing products and the future of Eve.


#21

They transfer money TO HONG KONG. An international financial hub. It won’t take a week to complete the transfer.

I think the situation is that the investor is still not sending fund to them.