Today's the day ASM expects the audits to be finished. Do you think ASM will post in the forums today or tomorrow that this really is the case and that all withdrawals will be paid? I myself am curious what the new excuse is for further delay.

http://www.allsportsmarket.com/forum....asp?MID=57430

Trader account audits are still underway.

Expected completion time revised to August 15, 2006.

Due to the critical nature of this task, other
timelines and deadlines may be affected.

Chris

There's two options:

a) At around 11 or so, there'll be a post like "we've uncovered more incredible incidences of manipulation and cheating and therefore, the audits will take a few more days."

b) There won't be any message at all. If people go there and start to complain, their posts will either be deleted, or receive a "get a support ticket or your message will be deleted" reply or Chris will aggressively enter the scene and explain that all audits have been completed and those who still have problems are cheaters and should continue to discuss this in private with him.

I take every bet on this one!

I would go for your option b. But then again I don't believe they will say the audits are completed, cause that will mean they will have to start paying a lot of people. And I'm almost sure that they don't have the money. Reading the old forum posts made me realize that the market is full of bonus money and that there are a lot of fake accounts which collected free shares that don't even exist.

but free shares could only be converted into money by selling for cash, which could be bonus cash, but then it has to be alot of bonus money.

Can no way see that so many $25 bonus money accounts have been created. (I think $25-$40 was the biggest bonuses you could get without any registration of any sort in the past, then they changed it to that you needed to registrate a credit card to get bonus money)
But if there have been some sort of creations of fake $250 accounts then it's possible.

I've got emails that tells that fake accounts has been created to get bonus money that then has been used to buy shares from real accounts. But fake accounts with bonus share doesn't create a bigger market becuase they don't add any money to the market.

Fake accounts with bonus money= ASM is losing money, but the market get a bit bigger as new money is added to the market. (I don't know how big part of the created accounts ASM thought would just be free bonus accounts when they started)

Fake accounts with free share = ASM doesn't lose any money. But the owners of the team with that free share lose becuase the sell pressure increase.

anyone seen a balance sheet for ASM?

And what is the effect of the almost unlimited short selling feature Hendog was talking about? At the moment it's nearly impossible to find shares to sell short. There are no rules for covering the shorts, is that the reason he was able to get from $150 to $100000 in a year? I'm really curious what Hendog's Short Stock Liability is.

I never understood how short selling worked at ASM really. Do you have an unlimited short liability?

I was never able to short sell so someone please correct me in the scenario I make here. Suppose Hendog was able to sell short a 1000 shares of crappy teams at $10 each (I don't know if this was possible cause I was not trading in 2004/5, I only know this would be impossible nowadays). He would have gotten $10000 of borrowed ASM money and used this as he said to: create a very large float and bought into top notch teams and players with the 'borrowed' money. These "top notch teams" probably had much bigger prize gains then the crappy teams and since he doesn't have to cover the shorts cause there are no rules ("unlimited short selling" Hendog calls it) he could withdraw money without ever paying any of the borrowed money back that's now part of the exchange. Please anybody correct me if I'm wrong.

so with these shorted 1000 shares, how much is his short liability?

I think that would be the current price of these shares multiplied by their number. So $20000 if each share is worth $20 now.