IS SEALS WITH CLUBS DONKDOWN??? (Update: Micon charged with a felony in Nevada)

[Dan Druff]

can you imagine if he actually pulled off the acquisition of lock and making the players whole? me either...but in an alternate reality where micon isnt a habitual bed-shitter this would have been epic

I discussed this with a few people. What was Micon planning there?

Was he really going to buy Lock and immediately cash everyone out? I doubt that. Most would have taken the money and ran. I don't think those remaining would have been worth acquiring the (very damaged) Lock brand.

My guess is that he wanted to acquire the software, player base, and brand very cheaply (maybe for free?), with the agreement to pay people based upon what they rake.

So basically he could promise to let people cash out $1 for every $ they rake, until they are made whole.

Of course, there would have to be new deposit money in order for this to be viable (otherwise the rake paid to Micon's Lock would be meaningless to him), but I guess he was figuring that a Lock model where people start getting paid would become successful again, and he would eventually make all of that back.

I also don't think he realized at the time how much money Lock was behind -- something to the tune of $10-15 million.

It's also possible that he was going to have a limited withdrawal program where people could request a limited amount of money per month, and hope that this would encourage players to deposit and play again, and lead to him operating in the black.

But honestly, Lock got so far into debt that the company took on negative value. That is, if someone offered to give me Lock for free, but I had to agree to promise to pay everyone in some way, I wouldn't take it.

[zealanddonk]

Anyone know how this will affect Micon's plans to become president, or has that dream sailed already?

[4Dragons]

Anyone know how this will affect Micon's plans to become president, or has that dream sailed already?

Considering how he keeps referring to himself as Chairman, it would be funny when he goes to court and they hit him with a Sedition charge.

[FRANKRIZZO]

can you imagine if he actually pulled off the acquisition of lock and making the players whole? me either...but in an alternate reality where micon isnt a habitual bed-shitter this would have been epic

I discussed this with a few people. What was Micon planning there?

Was he really going to buy Lock and immediately cash everyone out? I doubt that. Most would have taken the money and ran. I don't think those remaining would have been worth acquiring the (very damaged) Lock brand.

My guess is that he wanted to acquire the software, player base, and brand very cheaply (maybe for free?), with the agreement to pay people based upon what they rake.

So basically he could promise to let people cash out $1 for every $ they rake, until they are made whole.

Of course, there would have to be new deposit money in order for this to be viable (otherwise the rake paid to Micon's Lock would be meaningless to him), but I guess he was figuring that a Lock model where people start getting paid would become successful again, and he would eventually make all of that back.

I also don't think he realized at the time how much money Lock was behind -- something to the tune of $10-15 million.

It's also possible that he was going to have a limited withdrawal program where people could request a limited amount of money per month, and hope that this would encourage players to deposit and play again, and lead to him operating in the black.

But honestly, Lock got so far into debt that the company took on negative value. That is, if someone offered to give me Lock for free, but I had to agree to promise to pay everyone in some way, I wouldn't take it.

Yes, he was probably looking to purchase locks software. If I was in that position , I would have made players rake to get money off. No way on earth he would have been able to make players whole by simply cashing them out to the tune of 15 million dollars. All the sites that have done this previously found it to be an unwinnable scenario as players with money stuck would want to get money off without raking. When someone buys a company they are acquiring their liabilities in this case player unpaid balances. I don't know what he was thinking with that 1.

[BeerAndPoker]

You guys in Vegas need to swarm around the court house Thursday when Micon comes in wearing your donkdown apparel.

[FR1GHT]

I discussed this with a few people. What was Micon planning there?

Was he really going to buy Lock and immediately cash everyone out? I doubt that. Most would have taken the money and ran. I don't think those remaining would have been worth acquiring the (very damaged) Lock brand.

My guess is that he wanted to acquire the software, player base, and brand very cheaply (maybe for free?), with the agreement to pay people based upon what they rake.

So basically he could promise to let people cash out $1 for every $ they rake, until they are made whole.

Of course, there would have to be new deposit money in order for this to be viable (otherwise the rake paid to Micon's Lock would be meaningless to him), but I guess he was figuring that a Lock model where people start getting paid would become successful again, and he would eventually make all of that back.

I also don't think he realized at the time how much money Lock was behind -- something to the tune of $10-15 million.

It's also possible that he was going to have a limited withdrawal program where people could request a limited amount of money per month, and hope that this would encourage players to deposit and play again, and lead to him operating in the black.

But honestly, Lock got so far into debt that the company took on negative value. That is, if someone offered to give me Lock for free, but I had to agree to promise to pay everyone in some way, I wouldn't take it.

Yes, he was probably looking to purchase locks software. If I was in that position , I would have made players rake to get money off. No way on earth he would have been able to make players whole by simply cashing them out to the tune of 15 million dollars. All the sites that have done this previously found it to be an unwinnable scenario as players with money stuck would want to get money off without raking. When someone buys a company they are acquiring their liabilities in this case player unpaid balances. I don't know what he was thinking with that 1.

You can purchase a companies assets without acquiring the liabilities unless thar assets are collateral for the liabilities. In the case of Lock, I can guarantee that player balances are not backed by the company assets.

The catch 22 is that he would have to "acquire" the liabilities to make the business run even if he didn't legally acquire them, but would it be 100% of the liabilities?

Suppose you are a US player with few options and you are currently expecting zero from lock. If management you are familiar with and trust takes over are you willing to play there if they manage to return 50% or even 25% of your balance and you feel safe with new management managing funds properly going forward?

I never play online poker anymore so I'm not really taking a stance on either side. I'm just speculating on what he could have been thinking. Right now your EV is zero. Obviously you would be more happy with anything greater than zero, but given the situation would you continue to play there allowing the site to have a real future and value?

[sonatine]

yeah it would not be unexpected for micon's line here to be 'yes ill buy you and pay off all debts' then barter down to 'i had no idea your problems were so extensive, heres a much smaller amount of money and ill pay 10% of the player debts based on a revenue share model, which ill need your software to pursue'.

etc etc

[sonatine]

bonus jew points:

hold onto the revenues generated for quarterly payouts to clients, but keep the interest they accrue.

[tyde]

somebody...

anybody...

for the love of God, get down to that courthouse Thursday and get this community some video

[Muck Ficon]

somebody...

anybody...

for the love of God, get down to that courthouse Thursday and get this community some video

Where is Cleatus? Micon helped that geriatric fuck get a free scooter. The least he could do is go down the the courthouse wearing a "Free Micon" t-shirt and record it.

[simpdog]

cmoney should have staked garrett to sit around the courthouse for this moment.

[BCR]

Would be a pro move by Bullet Bill to find some out of work backpage Vegas entertainer to film and taunt Micon with " I clicked a mouse and lost my house! I wish I would have played a licensed Nevada site rather than support drug dealers and illegal gaming."

[Shooz]

somebody...

anybody...

for the love of God, get down to that courthouse Thursday and get this community some video

Fuck it I came over for the boxing I might aswell pop over for this!

Cya Thursday chaps

[tyde]

somebody...

anybody...

for the love of God, get down to that courthouse Thursday and get this community some video

Fuck it I came over for the boxing I might aswell pop over for this!

Cya Thursday chaps

Shooz is GOD

fucking outstanding

ty ty...can't wait to see what you get on video

anyone know if the public is allowed to sit inside the courtroom during the session ?

should be very interesting to see how this plays out

Got a good feeling about Micon emerging relatively unscathed, but who knows

[vegas1369]

Just got a random text from Shooz asking for a ride from the airport... Now I know why.

I'm there for you bruv.

[Shooz]

Just got a random text from Shooz asking for a ride from the airport... Now I know why.

I'm there for you bruv.

You're a scholar and a gent, trip to Vegas isn't the same without a ride from the airport!

[limitles]

Poker players have been associated with the term "card up your sleeve".

Anyone consider the transgender identifying option?

[Pooh]

Now that his poker career is over he can concentrate on becoming America's premier male model.

Imagine living life with those fucking arms. Not meant for tattoos I'm guessing.

[4Dragons]

somebody...

anybody...

for the love of God, get down to that courthouse Thursday and get this community some video

Fuck it I came over for the boxing I might aswell pop over for this!

Cya Thursday chaps

NEVER FORGET

[Pooh]

Micon had no fucking plans for lock poker. He was probably fried one night and decided to shoot off an email bragging about his considerable wealth to the fucking head dyke hoping lols would follow. For us not him.

Hope the fucker gets 10 years.

He couldn't even afford to go to trial financially so a plea is probably all locked up.