Tag Trading Central Update
I am at a loss of what to report about what is happening at Tag Village. I seem to have lost all contact with anyone that was involved in Tag Village with me.
I am advising that no new money be invested into Tag Village at this time.
While doing some research this morning, I did find a news update in the back office which still really does not tell us what is happening in terms of this being a viable opportunity or not.
This was the last published new feed, dated October 12, 2013:
Chained to Our Past
Published: Oct. 12, 2013
“Quoted from the CEO of TagVillage, David Ruebush”
Members of tagvillage, we are at a critical juncture in the life of our business. It is time for us to collectively make a decision that will either result in a growing, profitable future, or the final chapter in a difficult story. I have been discussing this issue with some of our biggest investors, our board members, our CFO, and a collection of very dedicated long-term tagvillage supporters. Now, I want to put it in front of the entire membership for feedback.
As you all know, we have fought through some major obstacles the past few years. I am still surprised we are in business after all our money was stolen from us. However, somehow, we remain. Tagvillage has been losing approximately $6,000 per month for over a year now. To keep the company alive, I have been funding operations as best as I can from my own pocket. I took a few side jobs developing software so that I could eat and fund tagvillage.
I sold my house, my car, and everything I own over the past 9 months. I moved to a tiny 1 room efficiency flat that is near a bus stop and a grocery store. This way, I can live on less than $400 per month and put all my resources into tagvillage. I have done all I can to get us to this point. I am now facing a major problem. My resources are running dry. I no longer have any savings, stocks, 401k, or any assets at all. I have given 100% of everything I owned to tagvillage.
When we were forced to freeze payouts on November 20, 2012 we had approximately 200 issues (bugs and software tasks) on our plate. When we held our annual shareholder meeting on June 14, 2013 we had 136 issues on our plate to complete the ad platform. Today, we have around 60 issues on our plate. So, we are making progress. We are very near the completion of our ad platform, and the ability to generate advertising sales.
We have been doing everything we can to perfect our systems and our business model. We have reduced fraud risk to an extreme minimum. We have halted all games and gimmicks and credits specials to produce more manageable Credits in the system. We have completely restructured our development, systems administration, IT infrastructure, and other systems and have achieved over 80% reduction in cost while increasing performance. We reset the site and eliminated all the ‘funny money’ created by fraud and too many games/gimmicks. Three years of learning and adjusting has produced a very manageable business model.
Now we need to address the last remaining obstacle for our success. We are very near the ability to generate ad revenue. We are very near the ability to make Tags have their true potential, which is advertising usage. However, we have a MAJOR obstacle in our way. It is impossible to attract and retain new customers.
Since August 1, 2013 we have been receiving a growing number of complaints from potential publishers, advertisers, and new TagTraders. We have received an overwhelming number of refund requests from these members as well. Let me describe a few recent conversations to help you understand the issue:
There is more but I won’t post the whole thing here. To read the rest of the post, go to the news area of Tag Village at: http://www.tagvillage.com/news-room/chained-our-past/?back_url=/news-room/%3Fpage%3D1