Here's Atkins client letter that we received on January 13, 2010. We received so many promises like this since last year. Let see if he can keep his words this time.
January 12, 2010
Dear Investor in Amasis Capital Management Group Ltd:
It has been three months since we’ve began our initial liquidation proceedings and we realize several planned targets and schedules have been missed. Emotions on both sides have been more or less at an all time high, and I can tell you that I have also been extremely unhappy, upset, frustrated and stressed out over what seems to be never-ending obstacles and delays in getting this matter settled. I know that these missed targets have caused me to lose a lot of credibility with many of you. For those of you who have been standing by me during this difficult time, I know it has been getting harder and harder to keep the faith when there doesn’t seem to be any end in sight.
Our public email announcements and updates were never intended to antagonize anybody or cause false hope. We had every reason to believe the schedules we made and the dates we thought the funds would be released back to our clients were credible dates/time frames. These schedules were all based on information we deemed credible at the time given to us. It has been very hard for me to convey that I am also in the same boat as all of my clients. I am also depending on the information given to me and waiting for certain things to happen that will allow us to get the funds back to you. It is extremely frustrating when things don’t work out as scheduled. And no one wants to be the bearer of bad news. I hate it as much as you hate getting those updates.
I know that many of you are now wondering, “Will this matter ever be resolved?”, “Will we ever get our money back?” The simple answer is “yes.” And of course, the next question is “When?”
I don’t know the exact date other than that we were offered it can happen anytime from tomorrow to 3 weeks. Is it real this time? Yes, I believe it is very real this time. Furthermore, I have reason to believe it will happen sooner rather than later.
What of the current transfer requests we submitted to our bank? They have been put on hold pending a legal matter that needs to be resolved before we’re able to proceed with the transfer process. That is all I can say of the matter. It may already be cleared by the time you’re reading this letter or it may take a few days longer. I just don’t know yet. Once we get the green light, the transfers will automatically be initiated by the bank, and we will then send out the TT confirmation numbers to all clients, so that you can cross check them with your bank.
As I stated in our last investment letter, Amasis Capital Management Group Ltd will return back 100% of your investment per your finalized statement. That is and always has been our commitment to our clients. We have never backed down from our commitment. I know things have not gone the way we hoped them to have gone, but everything will work out in the end with a happy ending for all of our clients. We will see that it does.
Last but not least, this has certainly been a long and painful process for all of us. For those of you who have continued supporting us and praying for us, I cannot thank you enough. I know this has been so frustrating and difficult for you and I truly appreciate your standing by me through the bad times. I don’t think there is any way I or Eva could keep our sanity without your support. It takes a lot of character to support someone when they’re facing extreme difficulties and hardships, especially when we’re all facing the same situation together. It means a lot to me and I will always be grateful for your kindness and patience.
For those of you who have continually vented your anger and frustration at us every day, I understand why and forgive you. You certainly have every right and reason to complain, given how long this process has been taking. Nobody expected things to take this long and I know I could have done things differently to handle things better for you. But that’s all hindsight. I know everybody just wants the money returned. There’s no need to keep sending me an email every time I send out an announcement telling me stop sending announcements because you just want your money. I already know that. That’s what everybody wants, including me. There’s nothing I want more than to just send you your transfer notification and be done with it.
Still, there are clients who do want to know what’s going on, even though it may be bad news. So please be considerate of those clients who want to be kept informed. Regardless of what I say, I know my credibility with you is probably already shot. So just know that when your money has finally been returned to you, that I always stood behind my commitment to you.
At this point, there is nothing further I or my company can do, but wait out the next few days or so it will take to finally put this matter to rest and see the funds returned. I know this is not what you want to hear, but it is what it is.
If there are any changes in the meantime, we will notify you.
Sincerely,
Michael Atkins