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Friday Thread - An Internet Whodunit 1!!11!1!! (1 Viewer)

Mister CIA

Mister CIA

Footballguy
Remember phenoms?

Unsurprisingly the Shart Pool disappoints. I lost approximatley $0, but still I ask - Where is our $500,000?

Original SP post about Phenom's Bankruptcy filing:
 

Got a letter from bankruptcy court yesterday.  It's a "notice of intent to sell or abandon intellectual property".  It appears this story of sinking prize money into software development is true.  He hired a company called "End Point Corporation" in October 2013 and over the next 13 months paid them "approximately $500,000."  

The trustee paid End Point $1,750 out of the estate to get a working demo and have attempted to sell the software "as is" with no success.  They'll now consider bids of at least $2,500 up until the date of the next hearing (6/22) and if they don't find a buyer they'll abandon the rights to the still incomplete software.

That's a far cry from the $70k he claimed it was worth in his initial filing (in addition to the $25k he said the phenoms.com domain name was worth, lol).
Click to expand...


Who is the beneficiary? More importantly, how can I replicate this business model?

Piece of friendly advice: Don't Ph### with ##in.

 
Walking Boot said:
"End Point Corporation" totally sounds like a super-obvious name for a tax dodge/shell company/embezzlement scheme final step.

1) Create company, take in :moneybag:

2) Hire "End Point Corporation" to do "consulting work" for :moneybag:

3) Claim you're broke, dissolve company, take :moneybag: out of "End Point" free and clear.

I mean, this is basically how it goes here at work, where we hire a different division of our own company to market the movies we make, pay them hundreds of millions of dollars to do so, then claim those costs mean the original film had no profit. "Oh, Forrest Gump took in $500mil in profit in the box office run? What a coincidence, we had to hire ourselves at a cost of $500mil to promote the DVD release. Now Forrest Gump has made $0. No profit sharing for you!"
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This is the first thing I thought of. Even the name sounds ominous. 

"End Point, where the money train stops."

 
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