It is absolutely true that we were running promotions that were not working (acquiring new players) and that were not sustainable in our current financial situation. However, the company is 100 percent solvent and our number one priority is to protect customer funds.
Not one mBTC of customer money is ever used for operations, marketing, or any other purpose. All customer deposits/winnings are segregated and totally secure.
The sad truth is that we inherited a piece of software that hadn't been properly vetted by the prior management before the unfortunate events early last year. We have been way too slow to admit that. We've made tremendous progress in correcting the uncountable bugs and glitches that existed from Day One. Much more needs to be done, and we are doing it. We can't give a timeline, because we dont know how long it will take.
Despite that, we believe we have a more than functional, working product, that can compete with any site that is now operating. That, coupled with our legitimate rake cuts should eventually increase traffic. Once that happens, we plan on ramping up rewards again. So Krill will remain a viable, lifetime reward. Last months cancelled 1,000 Chip 20k Krill Freeroll has been relisted on Saturday July 16th.
Our silence has ended.
Would you submit to an audit by a trusted member of the community to prove that what you are saying is true?
Anyway, what you are saying is true (except the marketing part...you don't seem to do any marketing). Your site CAN compete with any site currently operating (sans Stars). If you run and market it correctly. Literally nobody wants the site to do poorly. Everybody is rooting for you. Unfortunately, your track record is poor so you have that to overcome. Please please please hire a poker room manager and a marketing manager who can get people onto the site and stay on the site. Your site has a ton of potential but you are dropping the ball in a big bad way.
As a private, very closely held concern, we don't share our business plans, financials, or other proprietary information with anyone. However, if there was even a scintilla of evidence that we were not solvent, or not paying withdrawals in a highly timely manner, we would consider an audit.
We have excellent poker room and marketing staffs, we just didn't let them do their jobs properly until now. That is all part of the changes that started with the rake reduction. We botched the Krill Roll, now we're making that right. It all starts now.