Hello BT Members,
You are probably wondering why we have not had an update for a while.
Here is a an explanation and update of our current status.
As many of you recall from our previous updates, we have made extensive upgrades and re-programmed the back-end software and algorithm. Harry and Joe have incurred a lot of substantial personal loses with the upgrades and the cost of maintaining business operations.
Another huge hit for the business was the loss of over $316,000 as a result of the Payza incident just over one year ago. This was an unforeseen event that ultimately had devastating consequences. A great deal of time and money has been expended as well as the legal expenses trying to recover these funds. This effort is ongoing but a resolution in the foreseeable future is uncertain at this time.
We tried our best to revive BankOnTraffic.com with it’s new business model and compliance rules. After the back-end and the marketing suites were completed, the next step was to develop additional software to sell, keep track of, and pay member commissions for the marketing suites and new products. This was going to require an additional investment of $20,000 in software development for this final phase. We had hoped to gain access to the Payza funds by this time but, as we mentioned above, our Attorneys are still working on it.
Considering the monthly expense of keeping BankOnTraffic.com live, we have no choice but to cease operations at this time. It saddens us to do this. We really appreciate our faithful and loyal members. As such, we thought it only fair to make this announcement. If our attorneys can gain headway in recovering the funds lost through Payza, we may consider reviving BankOnTraffic.com at that time. Considering the time and money invested into developing the algorithm and platform, we are actively looking at alternatives to utilize these resources perhaps with future business applications and products. If we are successful in finding an appropriate alternative, we will offer something special for current BankOntraffic.com members.
The Management of BankOntraffic.com