Took a little time to sort through this cluster**** since neither OP nor the investors seem to realize how much they owe/are owed even though it is MORE THAN A MONTH AFTER THE STAKE ENDED (lol wtf?) and this was literally sending me to the farthest reaches of tilt oblivion.
According to his PTP BAP fergwrx owned $19365 of his action, this figure includes all of the action sold to 2p2 members (linked below):
fergwrx's rail for Fergwrx 2010 WSOP BAP
Summing up the total investments by 2p2 members (NOT INCLUDING MARKUP): 6% + 5 * (5%) + 15% + 8.33% = 54.33%
.5433 * $30000 = $16299
fergwrx share = ($19365 - $16299) / $30000 = $3066 / $30000 =
10.22%
total profit to be split by investors and player =
$10553
fergwrx share of profit = $10553 * 0.1022 =
$1078.52
So according to fergwrx's formula of returning the original stake plus their percentage of the profits the following amounts are owed (all investors were charged 1.2:1 MU since all purchases are 5% or greater):
mobills, fitzcat, NHFunkii, jimmyc123 and tufat23 (5% each):
$1500 * 1.2 + $10553 * 0.05 =
$2327.65
pokerchap (6%): $1800 * 1.2 + $10553 * 0.06 =
$2793.18
leemur (8.33%): $2500 * 1.2 + 10553 * .0833 =
$3879.06
George Lind III (15%) : $4500 * 1.2 + $10553 * 0.15 =
$6982.95
The amount of confusion from investors in this thread is very worrisome, I realize that fergwrx had a great reputation before all of this and thus I do not blame investors for getting involved. That being said, how on Earth do any of you ever purchase an investment product that you do not understand? It's fairly obvious after the fact even though he rolled the investment fergwrx did not understand what he was offering to investors. You only have to look at a few comments of his above and his response to Funkii
here to see that he really had no clue what he was offering. GL to all getting this sorted out.
/rant
Last edited by hoodskier; 08-11-2010 at 04:01 PM.
Reason: Incorrectly split profit after fergwrx share of winnings removed, profits should be split whole ldo