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  1. #1
    ABW Adviser Panel Dynamoo's Avatar
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    Just a heads up if you're involved with Fonetastic.. they're currently having cash flow problems and aren't able to make payments (although they hope to resolve this issue, obviously).

    They do quite a nice "white label" store solution, so it would be a shame if they went under.

    ________
    "All your commission are belong to us." - Slimeware Corporation

  2. #2
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    January 18th, 2005
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    I made a sale last month with them - will check sometime this month to see how it ended...

    I have cut most links with them - but tbh was doing better on other programs anyway.

  3. #3
    ABW Adviser Panel Dynamoo's Avatar
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    They've now gone titsup and have sent a letter out - if you haven't received a letter from them, you will soon.

    The remains of Smartengine have been sold on, there's frankly not much chance of getting much commission owed.

    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>
    I would like to explain our current position and ongoing circumstance, in brief terms.
    Recently the substantial claw back situation and now stock revaluations has put Fonetastic Mobile and so Smart Engine Technology Ltd under a great deal of financial strain.

    With the full intention to clear our accounts with you and other creditors and so move forward unencumbered I injected more personal funds and we forged ahead in order to get onto an even keel.

    Recently our cash flow was badly affected and my ability to put any more personal funds into the business was not possible. As a responsible director I chose to seek external professional advice. This has concluded with Smart Engine Technology Ltd be placed into company voluntary liquidation.
    Prior to this I had attempted a trade sale Of Fonetastic Mobile to assist in the payment of outstanding creditors. Although £ had discussions, no official offer was forthcoming.

    Had the Fonetastic Mobile site been turned off and all the staff walked away on the same day as the CVL, the asset would have been worthless and all affiliates would have received nothing.

    After an independent valuation certain assets of Smart Engine Technology Ltd have been sold to Vermillion Skies Ltd. Vermillion Skies Ltd will trade forward as a new co, continuing trading styles such as Fonetastic Mobile etc.

    The affiliate network obviously has some value for the right company. The intention of the directors of Vermillion Skies Ltd is to attempt to realise some value for the affiliates as soon as possible. If they can locate a suitable company to pass Fonetastic Mobile onto they will do this, on the basis that in the contract this company must pay affiliates on time and must also pay affiliates a “Bonus” per handset as a way of securing their loyalty and as a bonus for some of the problems they have faced whilst running the program in the past.

    In the transfer to Vermillion Skies Ltd most employees have continued employment under this arrangement. This means that the call centre remains active and we wish to drive forward the Fonetastic Mobile offering, preferably with you as our partner.
    I would like to point out that any new business in the form of Mobile sales and commission due to you from 24th March 2004 onwards will relate to Vermillion Skies Ltd. These will be paid accordingly.
    I look forward to our ongoing business relationship

    Yours Sincerely
    Matthew Smith
    Managing Director <HR></BLOCKQUOTE>
    Innovative advertising with Slimeware Corporation and Telephore. Mail-order fuel with Petrol Direct.

  4. #4
    ABW Ambassador
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    Phew! I pulled all their links this evening. Looks like lady luck was on my side for once.

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