Right now all we have is a promise from CEO Brian Royce that "I am going to make sure everyone is made whole".
There is no date with that promise.
The same person mentioned there was a "comingling" of funds and that "the separation of operations wasn't there".
There's no date with that promise because he's obviously still hoping to keep the Ponzi going.
If he meant that, and the money was there, he would simply pay people what they are owed. There are plenty of validly-identified people in non-sanctioned jurisdictions whom are owed money, and have not been paid.
The only reasonable conclusion is that the money simply isn't there, and that by "commingling" Mr. Royce means some combination of "spent" or "taken". For all the horseshit that Rob Monster peddled about "domain escrow without a registrar is like a bank without a vault", it's pretty obvious at this point that there was no "vault" for the money that Epik was taking in for domain sales and escrow either. Those pesky regulations, as annoying and old-fashioned as they may be, have a purpose - and the purpose is to avoid
precisely what obviously happened here.
As far as the "regulatory" background is concerned, simply forming a new entity in Wyoming does not confer escrow and money transmitter licenses either in Wyoming or in any of the states in which Epik provides services.
What's outstanding is that anyone would continue to trust Brian Royce after his obvious lies.
The first time he communicated with DNW about the shutoff of payments, he sold this line about how he was so "precise" and when he looked at the "code" he saw inefficiencies in that the payments weren't automated. Now, he's singing a different tune about financial impropriety, obvious regulatory non-compliance, and outright lying about notifications to customers, and we aren't supposed to notice.
The bottom line is that these jokers owe people a lot of money and have not been truthful about it for coming up on at least two months now. It's pretty simple - if they had the money, they would obviously have paid it out to the folks to whom it belongs. They continue not to do that, and the only conclusion is that they simply don't have it and were never to be trusted in the first place.
"Competitor to Paypal" - good golly, I don't even think weed is legal in Texas. Keep that boy away from the paint thinner.
