@thunderjet - Thank you for another excellent post
Demolition man Boris is a complete and utter joke. His failures show him to be an incompetent fool. When he said Minexcoin failure is because of investors seeking quick profits he is way off the mark.
There is no deal with any VISA or Mastercard authorised program manager and there never will be. Minex is a dried-up project with no money and no positive media.
Now they plan to use Stylopay service, China Union pay cards.
Here is one new video
https://www.youtube.com/watch?v=mtsEe3cju2o&feature=youtu.be This guy trying to explain something "What is Happening with the Project"
I just watch a few minutes, only some justification.
Problem is that,by theirs own admission, these cards will not be branded - again,so Minexpay will use some other company as a cover for its activities ,like it used lithuanian company UAB KRISTOLINIS DUGNAS for UPAY services. Chinese do not allow that as well ,so it will fail again at the same point as before.
Second problem is that Stylopay,despite it says how they have offices in UK and US are not registred as a payment processor in UK or US. They are not in FCA and Fincen register at all. Most likely ,Stylopay has account at some registred payment processor(s) and conducting transactions for third parties via its own account - that was exactly doing the scammer from Novarise Secrecy with whom Boris has a contract for payment cards issuing in October.That is not allowed either in UK or US.
What is really dissapointing is that Boris proved utterly unable to do work on legal way,following neccessary regulations and laws.Three times he turned to some shady,scammy guys for help in getting payment cards on easy way, instead to do things right.
Judging by Boris background in Construction business then its no wonder he tries to find shady deals as construction business is filled with shady contractors like Boris. They dont know how to do things right, they only know illegal ways to swindle money from customers and rip off sub-contractors. Hence the attitude towards this project.
Exactly. That is why I became suspicious after he hired scammer from Novarise Secrecy to obtain him payment cards,because it was so obvious that it was so scammy option.Then I thought that such Boris behaviour could have some deeper background and began to research data about how he was conducting in his construction business,finding that such actions are so common for him.
Boris told how Minexsystems expenses were more than $260K per month.Now he claims that minimum expenses for continue to run Minexsystems will be about $800.000 per year or $66.666 per month. Neither is truth.
Boris had 20-25 employees with monthly salaries between $1000-2500,so real project monthly expenses were at max.$50-60000.Boris didnt make any significant investment than one time buy of 90 ATMs for about $300.000. So,difference between $60000 and $260000 or more per month is not made by some real expenses,but it was classic money drain,covered as salaries for Boris and his friends/family.
Now he has 12 employees,4 of them developpers.He is paying developpers about $2500 per month,so for 4 developpers monthly expense is $10.000.For 8 other staff/support members salaries is quite lower,no more than $1000 per month,so for 8 staff/support employees ,monthly expense is $8000 which is total $18000 per month for employees. Other expenses(rent,marketing...) for such small ICO cant be more than $7-12000 per month,so montly expense cant be more than $25-30.000,which is about half of Boris is claiming.
I recently read story from Spectre CEO, ICO which is about 10x bigger than Minexsystems.Theirs expenses were about $100.000 per month.They are 10x or more bigger than Minexsystems,work in US/Canada where salaries are many times bigger than in Ukraine and yet has monthly expenses 2.5x lower than Boris...
