Sunday August 14, 6:45am.
We are still working on accounts, so PLEASE IGNORE ERRORS until we announce we have completed the work. That could take another few days.
The amount of corruption in our database caused by database crashes was almost overwhelming, but we are getting on top of it now. We still have a lot of work to do before we can consider any payouts. I am sorry about the the delays, but we have had no choice but to work through the issues as we found them.
We can now make some announcements about how we plan to keep 4Daily.com up and running, bigger and better, for you.
We have received many, many suggestion about ways to improve 4Daily.com and we thank you for them. We have plans for increasing members and revenue, but they have been delayed by our ongoing server problems.
Since our server problems started in May, we have had a dramatic decrease in revenue. Now that we finally have the surfbar running again, things are already starting to turn around. But the going will be tough for the next few months.
We don't keep large reserves of funds. We pay them out, which is what we are here for. Recent payouts drained the bank and income is still very slow. Nevertheless, we do have some funds and we will distribute them as soon as we can, with priority to those who got the least recently.
We have done much brainstorming and analysis of all the options we have for moving forward. We will proceed with our expansion and revenue raising plans as quickly as we can, now that the new servers are settling down.
Some of your suggestions will be introduced over time. Others are just not practical without changing the fabric of this site, but we will use them in another way.
Something that we can do, and will do immediately, is introduce a new rule for payouts which will ensure that 4Daily.com remains viable for as long as members want it to.
In future, the amount of cash that we payout each month will be based on the amount of cash that comes in during the previous month. Given that we are still distributing all available funds towards the July payout, there will be no new payouts in August. Instead, your earnings will continue at 4% per day and your Cash Balance will accumulate.
On September 1, we will know how much available income has been received during August. We will attempt to project the possible amount required for payouts on September 15. Each day we will announce on your member page our latest estimate of the percentage of your likely payout that should be available on payout day.
Then, on payout day, all available funds from the previous month will be distributed to those wanting cash payouts. After a good month, you will get 100% of your Cash Balance, and we may have some left over for future months. But initially, because we are already behind and still recovering, you will get less. September's payout will be a lot less than you are waiting on, but we expect to be able to catch up with a few months of good growth.
In any case, this change will mean that you can continue to earn at 4% per day and you can spend the full value of your earnings. But you might not be able to withdraw all of your cash every month. You will always know that the cash you can have will be relative to the cash that comes in. We will retain operating expenses, of course, but they are always kept as low as possible. The remainder will all make its way back to members. If we have a bad month, you will know during the first half of the next month roughly what you can expect to receive. Although it is a wildly moving target, the estimate should get more accurate as payout day nears. Any unpaid amount left in your Cash Balance will accumulate for the next month.
In short, 4Daily.com will continue to let you earn up to 4% per day of your Member Level. Paid members can spend full earnings when upgrades expire, after 50 days. If you want to draw cash out, you will get 100% of it after a good month, depending on how much cash has come in the previous month. Each month, we will distribute all available funds up to 100% of the amount left in your Cash Balance on payout day. Any shortfall will remain in your Cash Balance for future months.
In this way, 4Daily can continue indefinitely. Full cash payouts after good months, less after bad. No surprises. Remember that cash requirements can vary widely from day to day, depending on upgrade expiries and the amount of member spending from Cash Balances. But we will update your member page daily with the latest info, starting September 1.
We have heaps more to tell you, like news of our site make-over, new sites, new advertising opportunities, and a growth plan that is a world first for this industry. But enough for today. Just keep watching this space...
Jim Hunt
CEO, 4Daily.com
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