REPOST from Sir Jun posting in PayBux Refund Page: To All the Members of This Group: The first time I heard and learned about this page (PayBux Refund), I asked myself if the people who have created the page have seen some of the updates I have been posting in my Facebook pages and in other pages I co-manage for PayBux and Ingenious. I would like to believe that the people behind are disgruntled by the disruption of the service while some have still significant amount of value in their account trapped and unusable when the system was turned off. I told myself that I would probably feel the same. The only difference that I probably would have done first is to check what really had happened, and verify if there is a possibility that the service will resume sooner or later. But that is just me. Nobody can stop anyone in venting their thoughts and feelings in this age of social network and media. We are all empowered by technology to be heard, seen or recognized. As the person leading the now defunct Ingenious Mobile Business Inc. (Ingenious), I am the one who is most affected and this is the reason I am making this post. I seek to inform, address concerns and issues that have been raised in this page and I seek to be understood. I just would like to apologize that this has to be longer than the usual posts you can see here. Instead of aiming to gather people with same sentiments, I aim to discuss hope and outline the SOLUTIONS TO THE PROBLEM. Since everyone here is entitled to be heard, whether they are legitimate PayBux users or not, I also seek the same privilege: to be heard, so that those who may read this can make an informed decision. I won’t be giving you details of what had happened. I am not obliged to explain. Some events are ‘water under the bridge’. But you will agree with me that what lies ahead should matter most to us. As an entrepreneur who has been in the industry of Network Marketing for 20 years, the challenge I have now with PayBux, pales by comparison to the many challenges I went through in the past, all of which were tenably resolved. Some of the companies I have founded and assisted either in technology implementation or compensation design remain to be among the revered if not some of the biggest in the industry. VMobile and AIM Global are examples. Some of you may have benefited or continue to benefit from these companies. When PayBux succumbed to sudden death due to obvious financial crisis, I immediately recognized the pressing need to revive it the soonest possible time. At the time PayBux halted, the total ‘Bux’ balances in the accounts of users amounts to about 6.5M bux (equivalent to P6.5M). The single biggest value is about 750,000. I personally know the person who has this balance and I am grateful for his disposition when he learned about the problem. Not only he has been very understanding of the situation, he has shown support by encouraging others to wait for the action of the Management of Ingenious. PayBux requires fresh capital infusion to continue and to be revived. This has been my focus since the time it went offline. Aside from capital infusion, some of the key shareholders and investor in the company expressed their desire to divest their interest in the company. This issue requires a different attention, negotiation and handling on top of the capital concern. All of these required time and exhaustive attention. It is not an exaggeration to say that I almost quit and wish to just ‘abandon the ship.’ But as the person who have dreamt about consumer empowerment through incentivized buying, I just can’t extinguish the passion like fire in my bones especially now that I have already proven that it worked in the more than 6 months PayBux caught the attention of more than 60,000 users. It was a good start for both Petron and Jollibee who became one of the key merchant partners of the first App in the world that boasts of ‘cooperative rewards.’ I don’t have to describe this to those who legitimately experienced PayBux. Apart from the dream I have been chasing since 2003, the most important reason why I am going through all these present struggles while enduring barrage of criticisms, innuendos and demolition campaign, is to keep a good name I can leave to my three kids. I subscribe to what Proverbs 22:1 says “A good name is more desirable than great riches; to be esteemed is better than silver or gold.” Looking for an investor who would assume the liabilities of PayBux is NOT easy. I doubt if some of those who easily criticize or give out negative comments have actually stood up in front of prospective investors and boldly admit mistakes and at the same time present the potential of their concept, and most importantly obtain approval the moment they walk out of the meeting room. This is the second time I have done this for the sake of a vision. The first one was when I presented to the key officers of PentaCapital to save LoadXtreme. I looked at these situations TJ Trex Olandria with great appreciation because I know that not a lot of people go through what I experienced and take with it invaluable entrepreneurial lessons. I have worked from November last year up to present to successfully accomplish this for PayBux to resurface. PAYBUX CORPORATION will be formed to take on the liabilities of PayBux program. This means that when PayBux resumes soon, all BUX BALANCES shall be restored, as it is when the program stopped last year. The new company guarantees that there would be no disruption of supply in products that are redeemed using Bux. Presently, I cannot commit on a specific date when will PayBux be back online as many legal agreements are being discussed, negotiated and established. Transfer of trademarks, copyrights, etc. is among the crucial items of the transition. I could just honestly provide estimated time of about 2-4 weeks until everything is in place. I cannot and won’t prevent you from what you plan to do about your present disappointment with PayBux. I also understand how you feel about it. But before you do what you wish to do, please ask yourselves if your action would really bring the solution you are looking for or you are also potentially killing permanently a great opportunity for every consumer to get back on their expenses. I am confident that my personal actions about PayBux today will surely save a great opportunity for the Filipinos. Not only will it bring back the money left suspended in your PayBux account, it will also PRESERVE the OPPORTUNITY for you to get even more. I challenge all of those who genuinely seek solution to the issues that birthed this page. If within a REASONABLE amount of time PayBux cannot resume as I have announced, you are entitled to seek redress in any legal way possible. To that end, I would choose to understand though it may not be the path I will take wearing the same shoes. I know that it has been more than 2 months already since the service was gone. It took me 6 months before I was able to revive LoadXtreme from Portal Innovations to VMobile Technologies. I don’t see that it will take me the same amount of time to revive PayBux. I don’t want to sound over-promising but I really wish that PayBux could return in month or less. The shareholders of Ingenious have the sincere intention to revive PayBux the soonest possible time. Either you allow us to do this or wait a LONGER period of time for your concerns to be resolved LEGALLY. I choose to be part of the solution than to be part of the problem. Thank you for the generous time to you had given to read this post. God bless all our endeavors. Yours Truly, Jun Bengco Cham Tonog REPOST from Sir Jun posting in PayBux Refund Page: To All the Members of This Group: The first time I heard and learned about this page (PayBux Refund), I asked myself if the people who have created the page have seen some of the updates I have been posting in my Facebook pages and in other pages I co-manage for PayBux and Ingenious. I would like to believe that the people behind are disgruntled by the disruption of the service while some have still significant amount of value in their account trapped and unusable when the system was turned off. I told myself that I would probably feel the same. The only difference that I probably would have done first is to check what really had happened, and verify if there is a possibility that the service will resume sooner or later. But that is just me. Nobody can stop anyone in venting their thoughts and feelings in this age of social network and media. We are all empowered by technology to be heard, seen or recognized. As the person leading the now defunct Ingenious Mobile Business Inc. (Ingenious), I am the one who is most affected and this is the reason I am making this post. I seek to inform, address concerns and issues that have been raised in this page and I seek to be understood. I just would like to apologize that this has to be longer than the usual posts you can see here. Instead of aiming to gather people with same sentiments, I aim to discuss hope and outline the SOLUTIONS TO THE PROBLEM. Since everyone here is entitled to be heard, whether they are legitimate PayBux users or not, I also seek the same privilege: to be heard, so that those who may read this can make an informed decision. I won’t be giving you details of what had happened. I am not obliged to explain. Some events are ‘water under the bridge’. But you will agree with me that what lies ahead should matter most to us. As an entrepreneur who has been in the industry of Network Marketing for 20 years, the challenge I have now with PayBux, pales by comparison to the many challenges I went through in the past, all of which were tenably resolved. Some of the companies I have founded and assisted either in technology implementation or compensation design remain to be among the revered if not some of the biggest in the industry. VMobile and AIM Global are examples. Some of you may have benefited or continue to benefit from these companies. When PayBux succumbed to sudden death due to obvious financial crisis, I immediately recognized the pressing need to revive it the soonest possible time. At the time PayBux halted, the total ‘Bux’ balances in the accounts of users amounts to about 6.5M bux (equivalent to P6.5M). The single biggest value is about 750,000. I personally know the person who has this balance and I am grateful for his disposition when he learned about the problem. Not only he has been very understanding of the situation, he has shown support by encouraging others to wait for the action of the Management of Ingenious. PayBux requires fresh capital infusion to continue and to be revived. This has been my focus since the time it went offline. Aside from capital infusion, some of the key shareholders and investor in the company expressed their desire to divest their interest in the company. This issue requires a different attention, negotiation and handling on top of the capital concern. All of these required time and exhaustive attention. It is not an exaggeration to say that I almost quit and wish to just ‘abandon the ship.’ But as the person who have dreamt about consumer empowerment through incentivized buying, I just can’t extinguish the passion like fire in my bones especially now that I have already proven that it worked in the more than 6 months PayBux caught the attention of more than 60,000 users. It was a good start for both Petron and Jollibee who became one of the key merchant partners of the first App in the world that boasts of ‘cooperative rewards.’ I don’t have to describe this to those who legitimately experienced PayBux. Apart from the dream I have been chasing since 2003, the most important reason why I am going through all these present struggles while enduring barrage of criticisms, innuendos and demolition campaign, is to keep a good name I can leave to my three kids. I subscribe to what Proverbs 22:1 says “A good name is more desirable than great riches; to be esteemed is better than silver or gold.” Looking for an investor who would assume the liabilities of PayBux is NOT easy. I doubt if some of those who easily criticize or give out negative comments have actually stood up in front of prospective investors and boldly admit mistakes and at the same time present the potential of their concept, and most importantly obtain approval the moment they walk out of the meeting room. This is the second time I have done this for the sake of a vision. The first one was when I presented to the key officers of PentaCapital to save LoadXtreme. I looked at these situations Cham Tonog
Posted on: Sat, 17 Jan 2015 06:20:19 +0000