Head over to the FAQ page to have your questions answered before you login to your account and view your refund amount. On the ‘Transactions’ tab, you will see the MIMO (refund) amount. If you are going to be paid by TLennon Inc., your MIMO amount will have parenthesis around the number. If it doesn’t, the refund distributor believes you are not owed any money. With any discrepancies that may arise, you will have to file a Dispute and provide proof of your claim. To see the transactions that they have for your account, click on View. They should have all your transactions with 12DailyPro logged and calculated.

I am personally quite disappointed with my MIMO amount, as I believe I should be refunded more than 5 times the amount they calculated. Because StormPay decided to suspend my account (and they didn’t even notify me!), I do not have records of the transactions. That is a lesson I’ve learned the hard way: take screenshots (showing the date) of your internet transactions incase the website database crashes, or the company suspends your account! I have e-mailed Stormpay support for my records, which they will most likely not reveal.

I do understand, however, that all our MIMO amounts will be considerably less than the refunds we deserve because of the fees associated with TLennon Inc.’s work. I did not know it would be this dramatic though.

It’s good to see TLennon finally distributing the refunds for 12DailyPro investors. Make sure to check your account and Accept or Decline your MIMO amount before January 1st, as shown by steps 6,7, and 8 here.

And here’s a quick run-down of the calculation used to figure your refund (MIMO):

It is anticipated that claims will be calculated using a simple money-in, money-out (or “MIMO”) formula. This formula simply takes all investments (or amounts paid to purchase 12daily Pro membership units) and subtracts all funds received from 12daily Pro, regardless of whether the funds were payments of principal, interest, commissions, fees or were received by way of a credit card chargeback or electronic fund transfer reversal. This calculation will produce your MIMO claim amount.

Here’s a copy of his reply:

We have been waiting for the end of the credit card charge back period and the receipt of information from the credit card companies regarding charge backs and remaining reserves. After we receive that information we expect to file an application asking the Court for permission to do a claims processing. Once we receive permission we will advise all of the investors how and when to file a claim. Any distributions that are to be made as a result of the claims processing and the reporting of the Receiver’s recommendations to the Court will occur after the claims processing is complete for all investor’s claims. In all likelihood, the earliest date for a distribution will be in the second half of 2007 or the first half of 2008. It is likely that when distributions are approved they will be approved for a pro-rated share of each investor’s net approved claim.

Let’s hope all goes well and we get our money back in a timely fashion! If you’ve been out of the loop with 12DP updates, click here for more.

And for the time being, make some money with programs I recommend.

In case the e-mail from T. F. Lennon (12DailyPro Receiver) got stuck in your spam filters or something – here’s the news: the First Interim Report was released a couple days ago. Check out the 25-page report here, which overviews all of the Receiver’s findings up to this date.

The report covers everything from what happened to 12DailyPro and how it operated, to how much money the Receiver has been able to record.

If you are a former 12DailyPro investor, like myself, you should take a look at the Receiver’s Interim Report. And make sure you are on the investor e-mail list!

Your source for easy money,
Marcelo Calcagnotto

Yes, you read that correctly…the Receiver says he is working diligently to confirm all debts to users who deposited via electronic transfers by looking over transaction records from e-gold, Stormpay, and EMO. Until that lengthy process is finished, members who deposited via any electronic transfer may not initiate a chargeback nor may we take any legal action against 12DailyPro.

Read the letter here in PDF format.

The article attacks 12DailyPro administrator Charis Johnson’s newest online venture, Startup Street. Although his opinion toward Mrs. Johnson and her new venture seem to be sour and imply the site may be very well be another scam, his article fails to point out any notable faults in the new program. I think this article will give Startup Street more publicity than anything, since his arguments fail horribly to invoke any evidence-based, negative (or positive) insights. Everything is pure speculation, using a mother and ex-12DailyPro user’s comments to fuel the article’s “legitimacy”.

The article does not even mention the fact that Charis Johnson has not been put in jail and is still well inside the government’s “spotlight.” She must change her life in the opposite direction if she wants to stay out of trouble. What if she really has create a legitimate business to help beginning internet entrepreneurs? Who is to judge that? Oh that’s right, a random mom who invested $12 in 12DP. ABC4 needs to provide news, not unfounded opinions – this article is a waste of time.

If you are curious and don’t mind wasting 20 minutes of your life (5 minutes to read and 15 to be pissed off), click here to read the article. Please feel free to comment..especially if you don’t agree with my analysis!

And for more information on the official word regarding 12DailyPro’s legal liquidation, visit Thomas Lennon’s site – the court-appointed “Receiver” of 12DailyPro’s assests – here.

FOR IMMEDIATE RELEASE
2006-26
Washington D.C., Feb.27, 2006 — The Securities and Exchange Commission today announced the filing of securities fraud charges against the operators of www.12dailypro.com, a “paid autosurf program” that in fact was a massive Ponzi scheme which raised more than $50 million from over 300,000 investors worldwide by offering a 44% return on investment in just 12 days. As a result of the SEC’s charges, the defendants, Charis Johnson, age 33, of Charlotte, N.C., and her companies, 12daily Pro and LifeClicks, LLC, ceased their solicitation of investors and agreed to a freeze of all their assets and the appointment of a receiver who will take control of the companies’ operations.

According to the Commission’s complaint, which was filed last week in federal district court in Los Angeles, Calif., www.12dailypro.com claimed to be a paid autosurf program — a form of online advertising program that purportedly generates advertising revenue by automatically rotating advertised websites into a viewer’s Internet browser. Advertisers purportedly pay “hosts,” which in turn pay their members to view the rotated websites. The Commission’s complaint alleges that 12daily Pro’s sale of membership units constituted the fraudulent and unregistered sale of securities under the federal securities laws. The Commission also today posted to its Web site an investor alert concerning autosurf programs. The alert can be viewed at www.sec.gov/investor/pubs/autosurf.htm.

Randall R. Lee, Regional Director of the Commission’s Pacific Regional Office, said, “Paid autosurf programs have become an enormous industry on the Internet. When these schemes depend on attracting new members in order to pay returns to current members, they are destined to collapse. The promise of guaranteed, double-digit returns in a matter of days should raise a red flag. We urge the public to be aware that paid memberships in these schemes may be a form of investment, and to exercise extreme caution before investing in any get rich quick scheme.”

According to the Commission’s complaint, the 12daily Pro website, recently ranked as the 352nd most heavily trafficked website, solicited investors to become “upgraded members” by buying “units” for a “fee” of $6 per unit, with a maximum of 1,000 units. 12daily Pro promised to pay each upgraded member 12% of his or her membership fee per day for 12 days. At the end of 12 days, the member purportedly would have earned a total of 144% of his or her original membership fee, 44% of which would be profit on the membership fee. To receive the promised payment, a member purportedly must view at least 12 web pages per day during the 12 day period. The amount of returns that 12daily Pro would pay its members, however, was in fact dependent solely on the amount of each member’s investment, not on the amount of website-viewing or any other services rendered.

The Commission alleges that the defendants defrauded investors by operating 12daily Pro as almost a pure Ponzi scheme — using new investor monies to pay the promised returns to existing investors — in violation of the federal securities laws. The defendants falsely represented that upgraded members’ earnings “are financed not only [by] incoming member fees, but also with multiple income streams including advertising, and off-site investments.” In fact, at least 95% of 12daily Pro’s revenues have come from new investments in the form of membership fees from new or existing members. The other “multiple income streams” from advertising revenues or off-site investments touted by the defendants were either negligible or non-existent. In addition, undisclosed to investors, Johnson transferred more than $1.9 million in investor funds to her personal bank account since mid-2005.

Johnson and her companies have consented to the entry of a court order that permanently enjoins them from future violations of the antifraud provisions of the federal securities laws, imposes a freeze on their assets, prohibits the destruction of documents, and appoints Thomas F. Lennon as permanent receiver over the assets of 12daily Pro and LifeClicks, LLC. The order is subject to approval by United States District Judge Nora M. Manella. Johnson and her companies consented to the order without admitting or denying the allegations in the complaint. The Commission’s complaint also seeks repayment of ill-gotten gains and civil money penalties; the amounts to be sought will be determined at a later date.

The Commission’s complaint alleges that the defendants violated the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the securities registration provisions of Sections 5(a) and 5(c) of the Securities Act.

This matter was referred to the Commission in early February by several members of the public. Complaints and tips from the public are vital to the Commission’s mission to protect investors, and the Commission staff reviews each and every complaint it receives.

For further information contact:

Randall R. Lee
Regional Director
Pacific Regional Office
(323) 965-3807

Michele Wein Layne
Associate Regional Director
Pacific Regional Office
(323) 965-3850

Kelly Bowers
Assistant Regional Director
Pacific Regional Office
(323) 965-3924

http://www.sec.gov/news/press/2006-26.htm