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Old 08-10-2010, 01:45 PM   #126
fergwrx
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Re: Winning Player Fergwrx WSOP package

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Originally Posted by tdomeski View Post
I just went and reread the first few posts in this thread where everyone was trying to clarify how the payouts would work. You seemed to know what was going on earlier, so I don't understand the confusion.

With that said, my interpretation of what you said (using your words earlier in this thread) it looks like you first owe everyone their stakeback (everything they sent initially) PLUS 83.33% of the profits ($10,553 x .88333 = $8794) adjusted according to their % share. So for example you would owe mobills everything he sent you initially + $439.70 ($8794 x .05).

I might be way off. There was a clusterfck of posts in the beginning trying to clarify this and it got a little confusing.

Hope that helps all parties involved. Best of luck.

The final conclusion was 20% markup there is no different way of doing this my first few posts clearly show i did not understand how markup works. So I posted saying I am selling at 20% markup. I have never done this and have no idea how to calculate payments. I have asked several people on here how to do it and nobody knows it seems like.
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Old 08-10-2010, 02:00 PM   #127
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Re: Winning Player Fergwrx WSOP package

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Originally Posted by tdomeski View Post

With that said, my interpretation of what you said (using your words earlier in this thread) it looks like you first owe everyone their stakeback (everything they sent initially) PLUS 83.33% of the profits ($10,553 x .88333 = $8794) adjusted according to their % share.
based upon his posts in the thread, this is correct. of course, this is totally non-standard and he screwed himself by doing it this way, but it's what he agreed to so he must send back the initial stake first and then chop up the profits.

Last edited by augie_; 08-10-2010 at 02:07 PM.
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Old 08-10-2010, 02:09 PM   #128
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Re: Winning Player Fergwrx WSOP package

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based upon his posts in the thread, this is correct. of course, this is totally non-standard and he screwed himself by doing it this way, but it's what he agreed to so he must send back the initial stake first and then chop up the profits.
sigh even though i clearly state i dont know how markup works and that i wanted to do 20% markup?
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Old 08-10-2010, 02:21 PM   #129
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Re: Winning Player Fergwrx WSOP package

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sigh even though i clearly state i dont know how markup works and that i wanted to do 20% markup?
yea, sorry, it sucks, but once you say this:

Quote:
For example If you buy 2% for $800 you will get 2% of the profits. But stakeback will be paid before profits so if I cash for a total of $60,000 you will get $800 stakeback and $600 profit
you should be bound to it even though you did not know what's going on. getting the stake back first is an incredibly good deal for the buyer, some people might have bought ur action simply because of that.
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Old 08-10-2010, 02:23 PM   #130
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Re: Winning Player Fergwrx WSOP package

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you should be bound to it even though you did not know what's going on. getting the stake back first is an incredibly good deal for the buyer, some people might have bought ur action simply because of that.
I agree. Following the progression of this thread it looked like that might have been the case.
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Old 08-10-2010, 02:23 PM   #131
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Re: Winning Player Fergwrx WSOP package

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I think I started with too high of a markup, so Im changing this to 25% markup for 1-4% markup and 20% for 5%+

So, 1% will cost $375
5% costs $1800

why wouldnt you go by this since this was the absolute most recent post in regards to payouts?
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Old 08-10-2010, 02:31 PM   #132
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Re: Winning Player Fergwrx WSOP package

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why wouldnt you go by this since this was the absolute most recent post in regards to payouts?
the markup you are charging has nothing to do with you saying you are paying the stake back first, and then giving investors their % of the profit.

it's just absolutely ridiculous to be doing something like this a month after the series is over btw, you could have easily figured out what "markup" means before event 1 started.
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Old 08-10-2010, 02:36 PM   #133
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Re: Winning Player Fergwrx WSOP package

this thread has been very enjoyable......op dont agree to a deal if you dont even know what you're agreeing to......I do think alot of these package threads are very confusing, but this one seems to take the cake
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Old 08-10-2010, 10:20 PM   #134
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Re: Winning Player Fergwrx WSOP package

http://forum.parttimepoker.com/7843792-post110.html

OP has lied about e-mail correspondence with pokerstars per PokerstarsMJ post
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Old 08-10-2010, 10:27 PM   #135
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Re: Winning Player Fergwrx WSOP package

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Originally Posted by TheDudeAbides. View Post
http://forum.parttimepoker.com/7843792-post110.html

OP has lied about e-mail correspondence with pokerstars per PokerstarsMJ post
Jeez, I knew there would be some scammers with so many people selling WSOP shares this summer, but this is ridic...

Come clean scumbag or you are ****ed forever in poker...
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Old 08-10-2010, 10:36 PM   #136
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Re: Winning Player Fergwrx WSOP package

wowwwww
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Old 08-10-2010, 11:28 PM   #137
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Re: Winning Player Fergwrx WSOP package

this may not be relevant, but i think it is, this is OP's PTR for the last month on FTP:



and stars:



officially he has 81k in investor money unaccounted for beyond his word that he has it. that number can be as high as 90k as he has not assigned sold shares for his ftops BAP so it simply shows as reserves. he did play the 1k FTOPS yesterday. he stated it was not for the FTOPS bap as he cannot play until the appeal is done.

http://forum.parttimepoker.com/staki...tops-xvii.html

there have been investors who have said they have received some, but not many, right now it is a gigantic cluster****

if this post is inappropriate please delete it
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Old 08-10-2010, 11:29 PM   #138
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Re: Winning Player Fergwrx WSOP package

Between his Mtt bap (package) and his wsop action he has about 85-90k of investors money (ptp + here) now it looks like he dosent have those funds.

The question is how much of it is left. I am active over on ptp and owed about 3k from his mtt action. I will try and post updates from over there on here if i get any. I hope ferg cares enough about his reputation to come clean admit how far short he is and what he plans to do to pay people back.

Stu.
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Old 08-10-2010, 11:31 PM   #139
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Re: Winning Player Fergwrx WSOP package

Yeah looks like since june hes lost 20k in cash games. That obv is another fairly large indicator he has deggened away everyones $$$.
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Old 08-10-2010, 11:37 PM   #140
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Re: Winning Player Fergwrx WSOP package

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Originally Posted by vedder1980 View Post
Between his Mtt bap (package) and his wsop action he has about 85-90k of investors money (ptp + here) now it looks like he dosent have those funds.

The question is how much of it is left. I am active over on ptp and owed about 3k from his mtt action. I will try and post updates from over there on here if i get any. I hope ferg cares enough about his reputation to come clean admit how far short he is and what he plans to do to pay people back.

Stu.
Wow 90k that is ****ing absurd, I'm not familiar with PTP but how is it possible there are still outstanding funds from a package in February and nothing has been said about it til now?
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Old 08-10-2010, 11:39 PM   #141
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Re: Winning Player Fergwrx WSOP package

Also LOL at him losing 28 buyins at 1/2 plo in <4k hands...
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Old 08-10-2010, 11:41 PM   #142
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Re: Winning Player Fergwrx WSOP package

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Wow 90k that is ****ing absurd, I'm not familiar with PTP but how is it possible there are still outstanding funds from a package in February and nothing has been said about it til now?
these are the baps he currently has open that have investor money:

FTOPS bap $8800. it seems investors have shipped for this but he did not mark anyone as sold

MTT bap, 57k. here there were multiple requests by investors to have the bap closed which he ignored and continued play.

WSOP BAP, 40k the auto-selling of shares in this bap are a product of not confirming payment has been received over a set period of time. it's designed in case an investor forgets for some reason to confirm payment so the BAP can close. in this case virtually everyone was auto-confirmed indicating they had not received payment

this is his appeals thread:

http://forum.parttimepoker.com/appea...an-appeal.html

edit


Quote:
Originally Posted by vedder1980 View Post
The ftops bap was all rollovers (well a huge amount) so that money is getting counted twice. The wsop bap i believe a reasonable amount of people have been paid. At most he has 80-85k of peoples money between here and PTP. Prob best not to make it more dramatic etc.

Last edited by TheDudeAbides.; 08-10-2010 at 11:58 PM.
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Old 08-10-2010, 11:45 PM   #143
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Re: Winning Player Fergwrx WSOP package

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Wow 90k that is ****ing absurd, I'm not familiar with PTP but how is it possible there are still outstanding funds from a package in February and nothing has been said about it til now?
Nah it was jsut his standard mtt action. 10k BR, it was meant to be for a month but he asked to extend for bit and hit a heater which is why it was at 60k. He then said he would close it on return from vegas which is when all this **** ensued.
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Old 08-10-2010, 11:48 PM   #144
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Re: Winning Player Fergwrx WSOP package

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Originally Posted by TheDudeAbides. View Post
these are the baps he currently has open that have investor money:

FTOPS bap $8800. it seems investors have shipped for this but he did not mark anyone as sold

MTT bap, 57k. here there were multiple requests by investors to have the bap closed which he ignored and continued play.

WSOP BAP, 40k the auto-selling of shares in this bap are a product of not confirming payment has been received over a set period of time. it's designed in case an investor forgets for some reason to confirm payment so the BAP can close. in this case virtually everyone was auto-confirmed indicating they had not received payment

so the number actually might be over 100k

this is his appeals thread:

http://forum.parttimepoker.com/appea...an-appeal.html
The ftops bap was all rollovers (well a huge amount) so that money is getting counted twice. The wsop bap i believe a reasonable amount of people have been paid. At most he has 80-85k of peoples money between here and PTP. Prob best not to make it more dramatic etc.
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Old 08-10-2010, 11:50 PM   #145
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Re: Winning Player Fergwrx WSOP package

So he's just like, "hey I'm gonna keep your guys money for another 2 months, gonna be really busy in Vegas, no time for accounting sorry!" ???
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Old 08-10-2010, 11:58 PM   #146
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Re: Winning Player Fergwrx WSOP package

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So he's just like, "hey I'm gonna keep your guys money for another 2 months, gonna be really busy in Vegas, no time for accounting sorry!" ???
Not quite, he reached a point where he was pretty much break even going into the series so asked to just continue that bap rather than creating another and everyone transfering both ways and just rolling over.

Thats not un-standard, if a player is just going to sell the same action again continuing until theres a result either way isnt a terrible plan - esp someone everyone considers to be very trustworthy/a well known player (even johhny bax in this thread gives him a big thumbs up as a trustworthy guy) its just easier than re-setting.

The wins were not till the tail end of june/early july i think (not 100%, i was busy failing at the wsop myself) then it was a small extension till he returned from vegas = Q ****storm when he started delaying both us and you guys here.

Hope that explains a bit better. Sorry for everyone involved both here and at PTP.

Stu.
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Old 08-11-2010, 12:13 AM   #147
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Re: Winning Player Fergwrx WSOP package

so was this supposed to be an 83/17 split after stakeback? (seems like a great deal to investors)
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Old 08-11-2010, 12:33 AM   #148
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Re: Winning Player Fergwrx WSOP package

Wow fergwrx you pull that tone with me earlier today when I was just trying to help you solve a very simple math problem, then it turns out you are just another shady dude (regardless of if this gets cleared up). Shame on you, buddy...shame on you.
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Old 08-11-2010, 12:37 AM   #149
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Re: Winning Player Fergwrx WSOP package

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Wow fergwrx you pull that tone with me earlier today when I was just trying to help you solve a very simple math problem, then it turns out you are just another shady dude (regardless of if this gets cleared up). Shame on you, buddy...shame on you.
If you know him well enough to have been talking to him today any chance you could call him or something and ask him to at least come and tell people what has gone on etc etc. Obv understand if thats not possible but theres a lot of people that would like to know what he plans to do about this/how much money is left ASAP
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Old 08-11-2010, 12:39 AM   #150
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Re: Winning Player Fergwrx WSOP package

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If you know him well enough to have been talking to him today any chance you could call him or something and ask him to at least come and tell people what has gone on etc etc. Obv understand if thats not possible but theres a lot of people that would like to know what he plans to do about this ASAP
It was in this thread earlier today. I have no idea who he is. I wish all of you the best of luck.
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