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penty · 01-27-2008, 08:54 PM

NAEB is going to survive.

We've dodged a bullet by getting a bail out that will enable us to buy the first order of readers from Bookeen and free the necessary funds from E-OnLine Data.
We'll be able to use the original payment plan of 1/2 on order and the other 1/2 on shipping which will make everything much simpler.

PayPal is now refunding all of you who placed an order through it's service ( Which NAEB is going to cancel just as soon as that's finished. ) and we'll be using the checks you send us to pay back the loan.
More importantly, having proven our track record we'll be able re-open the store and take orders for the next lot of readers, on line, without fear of any repeats.

We're amazed and grateful for the trust and generosity that made this possible.

If our benefactors give their consent we'll tell you their names otherwise we'll respect their wish for privacy but they are your friends as well as ours and your checks are what NAEB will use to pay them back with.

Here's what's gong to happen.

We order the readers by end of this week, the beginning of next with 1/2 paid.
When Bookeen tells us they're ready to ship we pay the other 1/2.

We get them and send them on to the buyers.
The funds freed will be used to pay back the loan.
The delay will come as the checks used to replace the PayPal orders clear the bank.

Bookeen will be getting the second shipment of readers later in February.
We'll be able to accept credit charges for up to 30 days before we'll have to start over again when the charge is canceled so we will be carefully timing our acceptance of credit card charges to match Bookeen's shipping schedule.
This will not affect checks and money orders so you can send them to us at any time.

This will also require some changes in our email notification since we will be selling from each shipment as Bookeen receives it till we get to the 1000 mark.
If any of you remained concerned about us sitting on nearly $400,000 for an indefinite period, relax, it's not going to be happening.

Thank you all for believing in us.

Pamel Gadsden
CEO, Not Another E-Book

01-27-2008, 08:54 PM	#1
penty Connoisseur Posts: 70 Karma: 367 Join Date: Sep 2007 Device: CyBook Gen3	NAEB Lives NAEB is going to survive. We've dodged a bullet by getting a bail out that will enable us to buy the first order of readers from Bookeen and free the necessary funds from E-OnLine Data. We'll be able to use the original payment plan of 1/2 on order and the other 1/2 on shipping which will make everything much simpler. PayPal is now refunding all of you who placed an order through it's service ( Which NAEB is going to cancel just as soon as that's finished. ) and we'll be using the checks you send us to pay back the loan. More importantly, having proven our track record we'll be able re-open the store and take orders for the next lot of readers, on line, without fear of any repeats. We're amazed and grateful for the trust and generosity that made this possible. If our benefactors give their consent we'll tell you their names otherwise we'll respect their wish for privacy but they are your friends as well as ours and your checks are what NAEB will use to pay them back with. Here's what's gong to happen. We order the readers by end of this week, the beginning of next with 1/2 paid. When Bookeen tells us they're ready to ship we pay the other 1/2. We get them and send them on to the buyers. The funds freed will be used to pay back the loan. The delay will come as the checks used to replace the PayPal orders clear the bank. Bookeen will be getting the second shipment of readers later in February. We'll be able to accept credit charges for up to 30 days before we'll have to start over again when the charge is canceled so we will be carefully timing our acceptance of credit card charges to match Bookeen's shipping schedule. This will not affect checks and money orders so you can send them to us at any time. This will also require some changes in our email notification since we will be selling from each shipment as Bookeen receives it till we get to the 1000 mark. If any of you remained concerned about us sitting on nearly $400,000 for an indefinite period, relax, it's not going to be happening. Thank you all for believing in us. Pamel Gadsden CEO, Not Another E-Book