(Past) Mike G Updates August 2020 - From The Desk of Michael Thomas Glaspie -
August 11 2020: "The closing process should begin tonight, and as I have said it may take two or three days, I just don't know." "Second, because on Sunday I terminated acceptance of personal loan pledges without notice , I then re-opened it yesterday - giving everyone a chance and ample time to send in their pledge." "All pledges have been accepted" "However, effective immediately, I will not accept any further personal loan pledges..." "We are good to go with a comfortable just in case emergency fund." "And there are no exceptions to this" "I'll report further tomorrow on the progress of the closing." - Mike G
Agust 12 2020: "From my 1:00am report, closing is still in process." "Three non-material items need to be worked through, no big deal, they do not impact the closing but the buyers wanted to get everything sorted out." "Oh, in case you are wondering, I don't think I said, but one South Korean dignitary, and the lawyer/closer and his staff members are here, staying at that expensive hotel I told you about." "Things are looking mighty fine and I'll keep you up to date, just like this." - Mike G
August 13 2020: "Little legal issues have continued to crop up that only the lawyers can deal with, nothing material, nothing that affects are payouts, nothing that affects the closing except they have to get done." "And last night one of the lawyers said we would have closed this deal this week by now if our Countries weren't 13 hours apart, so that is a very real challenge." "Nevertheless the closing team from South Korea has said they are not going home until we get this deal closed, and quite possibly today now that all this miscellaneous legal B.S. is out of the way." "When we get to Vegas I'll tell you about this last stupid legal issue and if it weren't so serious in the delay it has caused it would actually be pretty funny." "But, it has been fixed and everyone thinks it is clear sailing now. And I am expecting more good news but later on today as our legal beagles are not even in their offices yet." - Mike G
August 13 2020: (2nd Update) I have been told all week we were closing this week. But no-one could have foreseen the piddly, B.S. legal maneuverings by a certain faction of people." "I wish, I truly wish, I could share with you what those problems were, BUT I CANNOT due to my NDA (Non-Disclosure Agreement)." "WE ARE GOING TO CLOSE, NO HYPE, NO B.S." "It gets even better..." "WE DO NOT NEED TO RAISE ADDITIONAL FUNDS" "However, I wouldn't mind having a few extra fungolas just in case we get hit with some out of the blue surprise, I must be ready for it, and I will offer you the same crazy return that I did the last time, but I must have it by credit card or wire by the end of business next Tuesday, August 18." "Guaranteed last chance, no kidding, must have wire or merchant account verification no later than the end of business Tuesday, the 18th." "To make your pledge for a personal loan, please email..." - Mike G CEO
August 14 2020: "First, let me clarify something... Garry, my partner, is on the Board of Trustees, he had control of the money one hundred percent of the time because he first held it in escrow and then he from the seller's account which access has been granted to him some time ago set up the escrow with the bank and then sent it to them."
"Second... Great news!" "My usual late night call from Garry was more than exciting because, as I have already told you, the closing lawyer and his staff are staying through the weekend, and until we close this deal, and their hotel rooms have been extended and paid for." "So all is going exceedingly well." "I'm going to hold to the "no more loans after Tuesday, the 18th", even though we may be closed by then. So if you want some more candy out of the bag, all the flavors are listed below." "Here's how to cash in one last time, and don't forget, forward this email on to any sub-partners you may have because they are YOUR partner, not mine as I have explained." "To make your pledge for a personal loan, please email Amy at..." - Mike G
August 14 2020: (2nd Update) "As you know the sale price of the company, by special formula, is tied to the value of Bitcoin." "Isnt' it amazing? The influence one person can have on not just what a friend or neighbor thinks or does but the direction in which the entire world moves. Many people throughout history have had this effect." "Here's how to cash in one last time, and don't forget, forward this email on to any sub-partners you may have because they are YOUR partner, not mine as I have explained." "To make your pledge for a personal loan, please email Amy at..." - Mike G
August 15 2020: "Great news! Seller just called Garry, Garry just called me." "The seller is on his way RIGHT NOW to meet the V.I.P. at the airport, as the V.I.P. is on his way right now. They plan to do some preliminary 'get to know' each other (they will be working together after closing), and some work done, heading into the first part of next week." "Anyways, just thought you might appreciate some good news on a Saturday." "And don't forget I will leave the loan participation available just in case you want to cash in even bigger and faster if this closing takes place earlier than we thought." "Here's how to cash in one last time, and don't forget, forward this email on to any sub-partners you may have because they are YOUR partner, not mine as I have explained." "To make your pledge for a personal loan, please email Amy at..." - Mike G
August 17 2020: "Everyone from South Korea is here that we need to close my deal." "I cannot give you an exact closing date this week, but the South Korean boys and girls want to go back home as soon as possible, they ALL under South Korean mandate must spend two weeks in quarantine (meaning they can't leave their home) so obviously everyone is anxious to conclude this deal." "Because I am not positive of the closing date (I really may not know until the day of, that's how they are), I am leaving the door open for any additional personal loans for YOUR benefit. I feel very generous in making this offer because I don't think I will need more funding for the seller but just in case, and for your benefit you may take advantage of the offer below."
"And I recommend, (I'm not being pushy here, really), you need to do so as soon as possible because after the closing the seller will not make his special mega bonus money available." "To make your pledge for a personal loan, please email Amy at..." - Mike G
August 18 2020: "Someone in accounting screwed up really royal and on our side, not the bank's side. Remember this is an enormous deal with so many moving parts I can't count them, and accounting meetings every day, really every day." "Turns out the bank did not give the seller the per diem credit promised for the $250k loan they extended him late last month. Remember? Because of the way our accounts claimed and filed it. It's now cast in stone." "Unfortunately I had to dig deeper than I could really afford to go because this $181k took every dime of the reserve I have been building up from personal loans, including every dime in my own general account." "Everyone is moving toward wrapping this sale up ASAP, Hallelujah!" "Because of the circumstances and because there is still plenty to go around of the bonus money I am leaving my best offer every up and available to you..." "To make your pledge for a personal loan, please email Amy at..." - Mike G
August 18 2020: (2nd Update) "In general discussion between Garry and the seller, the seller was more positive about the closing taking place this week as of twenty minutes ago..." "I'm excited, I'm excited for everything I have been doing for the last two and a half years, and I am excited for you. I sincerely believe this will be the absolute last week you will be able to earn these kind of returns ever, anywhere, forever."
"Don't forget, here are those details, and understand I am not being pushy about this, I just know what kind of bonus money is available but my NDA will not permit it, but when we get together in Vegas celebrating the closing of my deal, hopefully very soon. I am already beginning to work on those details, I literally will blow you out of your chair and I guarantee you, you will be astounded." "So please help yourself to some very potentially lucrative returns which I just don't know I may not be able to offer ever again. You know why?" "The Board meeting where everyone is going to be, is tomorrow morning Pacific time, not tomorrow night. So if the deal comes together like everyone is hoping tomorrow morning, this will be your last chance." - Mike G
August 19 2020: "He was quoting what the seller had just told him, and the seller had never ever in the last two and a half years used this word..." "Here's what Garry said to me, "Hi Mike, just got off the phone with the seller and their meetings for the day just concluded at 10:00pm their time. And here's what the seller said, I'll quote it..."
"The paperwork is being finalized and registered on or before Thursday. Funding should begin next Monday, these people want to go home this week." "So it now seems Homeland Security should begin their work next week." "I'm going to keep the personal loan participation available BUT only to partners who have already put their ante on the table (in other words, NO NEW sub-partners permitted.)
This is the last hand and I am all in!" "I have instructed Amy to reject any pledges from anyone submitting a new sub-partner pledge, as of this update sending, who has been sitting on the fence waiting for this day. I will not share profits with anyone new."
"Rest assured there is more than enough to pay these enormous returns, as my return is in the multiple B's. Please keep this absolutely confidential as my partner. I don't tell you this to boast - I tell you this ONLY so you know there will be money to pay everyone the enormous returns I have promised, who has made a personal loan." "Here's how you can participate but ONLY until I receive finalization of the sale. (I cannot accept personal loans after closing as the seller will not pay additional bonus money after closing)." - Mike G
August 20 2020: "Hang in there. Will they finish it today? I don't know. Hopefully, probably... that kind of information is kept confidential as I have explained several times." And just so you know, I want you to feel real good about this, the lawyer/closer and a couple of his staff are still here, just waiting for the boss to say, "OK, let's get some signatures." "Obviously I'm leaving the loan participation available but again, ONLY to existing partners or sub-partners." "Absolutely no one new! The enormous bonus money I am paying is a reward for taking a chance with me and waiting this thing out. It is not meant for people who have been sitting on the fence waiting for the final day or two to come. I hope you understand." - Mike G
August 21 2020: "Yippee-ki-yaa! Great news... We did not close last night and we are not closing today." "If you think I'm blowing hot air consider this - our new CEO for the first year of this new business signed paperwork yesterday on a $7k per month beautiful home in Orange County, CA. That simple act screams volumes about my transaction closing and very soon." "The personal loan money being sent to me I primarily use to support this coin business until it is sold, but I do also because I front money fast when it is needed have to support my business and keep my doors open also. So if I use any of my personal loans it does not affect in any way, shape, or form your payout as I have promised you, It just all keeps the wheels turning and headed in the right direction." "Lastly, this two or three business day delay provides you an opportunity to participate even more if you choose, but again NO NEW sub-partners. I insist these bonus profits go only to those partners who have struggled and suffered with me the stress and anxiety of being involved." - Mike G
August 22 2020: (2nd Update) "I have decided to no longer accept personal loans after midnight Eastern Monday, August 24, 2020. By all estimates this should be within 24-48 hours of finalizing my deal. I am doing this because we are so close, and I should have a few dollars built back up in my reserve/emergency account by then, and I want to start on all accounting as soon as possible."
"The Vice President for the bank is still here over the weekend and plans to stay until everything is finalized." "But here's the really big news, because we have not closed yet, I'm leaving the personal loan option up for grabs, and if you make a new personal loan after receipt of THIS UPDATE, not retroactive, I will have my accountant pay you an additional 5% (instead of the 2%, not on top of the 2%) on the amount of your total check, going back to day one." "However, to qualify for this new super bonus your new pledge must be at least $1k. A rather small amount to loan me in exchange for 5% added to your overall return, including the return I outline below for any new pledges up to day of closing." "So relax, enjoy your weekend, and obviously I will be in touch every day next week and should be sending you my rendition of an Irish jig. : )"
"Have a great weekend and here is how to participate..." - Mike G
August 25 2020: "I'm so excited I hardly know where to begin." "Everyone is still here from South Korea, a very strong sign. And everyone is in agreement on the new price and there appears to be absolutely no barriers in front of us at all." "It could happen tonight, I don't know but the road is clear and every one has high hopes that we are actually at that finish line, and I mean everyone." "The South Koreans want to go home, the buyers want to close the deal and be done with these excessive legal fees, the new CEO is anxious to move into her new home in Orange County (another great sign), and the seller is exhausted." "You might recall the seller asked that I do not accept any more pledges past midnight last night so as you know that opportunity is now closed, another great sign." - Mike G
August 26 2020: "Things are moving along fantastically." "You may recall that already this week we sent the seller enough money for him to cover his per diem from his mid month filings up until the 22nd." "Now today - and because the seller has offered Garry and I a huge bonus for our help which I am willing to share with you substantially (more on that in a moment) - I wired the seller $136k (the balance of his requirement came from another source which was minor compared to our contribution)." "And the seller, as I write this update for you, is at the courthouse registering, his final registration, showing that he has all necessary cash on hand which means we are completely ready to close this transaction and let the South Koreans go home." "Here's how you can participate but ONLY until I receive finalization of the sale. (I cannot accept personal loans after closing as the seller will not pay additional bonus money after closing)." "Please do NOT send multiple requests for the same pledge, or inquire about a receipt. ALL personal loans we receive from you are sent a receipt within five business days." - Mike G
August 26 2020: (2nd Update) "I just got a call from my partner Garry and I'm practically in tears."
"BUT THEY ARE TEARS OF ABSOLUTE JOY!"
"The seller just finished, about 2pm his time, non-stop legalbeagle meetings - where he was informed the grand finale/closing is a 2-day event scheduled to start tonight Pacific time at their regular Board meeting, and conclude tomorrow night at a special Board meeting."
"WE ARE FINALLY ALMOST THERE!" - Mike G
August 27 2020: "There's an old expression from, I think, WW2 lore that goes like this, "Loose lips sink ships" In our case... "Tight lips close deals." "So hopefully tomorrow, after the West Coast wakes up, I'll have good news. Worst case scenario, we still have Friday and Monday to fix any issues which are NOT predicted and NOT expected, so all should be clear sailing for tonight." "Therefore I will leave this special offer in place until I send out the "We're Closed" notice..."
"WE ARE FINALLY ALMOST THERE!" - Mike G
August 29 2020: "Although I tried to explain carefully why we did not close Wed or Thursday as expected, apparently I failed, because I have had several questions so let me try to clarify..."
"So, as it stands, we are looking at a Tuesday/Wednesday closing next week as everyone is finally in full agreement with all the changes. The new registration will happen today, and our Monday next week all the new paperwork will be prepared here in the states by the bank V.P. and the lawyer/closer in preparation for the conclusion, FINALLY."
"This if course does raise the amount required for per diem, for all of next week until the bank disperses on the loan,which we will need to cover next Monday." "So in order to help you justify just a little further involvement, I have raised your interest payback on your personal loan pretty substantially, and this new offer is good only through the actual closing which is likely next Tuesday night or Wednesday night, I'm not sure which day - but it is happening." - Mike G
August 31 2020: "Everyone from the lawyers to the buyers to the seller and of course the banker are anxious to finalize my deal as soon as possible, and the crew from South Korea is anxious to get back home." "So the bank actually called all those working on this deal in to their office an hour early their Monday morning / last night, OUTSTANDING!" - Mike G
PLEASE ALSO VISIT The Following Links Below To Read Additional Past Update Highlights
March 2020 - Countdown To Closing - (Past) Mike G Deal Updates - From The Desk of Mike Glaspie
April 2020 - Countdown To Closing - (Past) Mike G Deal Updates - From The Desk of Mike Glaspie
May 2020 - Countdown To Closing - (Past) Mike G Deal Updates - From The Desk of Mike Glaspie
June 2020 - Countdown To Closing - (Past) Mike G Deal Updates - From The Desk of Mike Glaspie
July 2020 - Countdown To Closing - (Past) Mike G Deal Updates - From The Desk of Mike Glaspie
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