News

Before we get to the IT status quo let me clear up some confusion about TTC.

TTC stands for Test Trading Concept. The last such trade was made available on April 14. It had been completed and paid out on April 22. All participants received their capital plus 9.2% profit to their e-gold accounts.

The TTC's have nothing to do with IT regular trading activity, these trades are one time separate events. Now to IT's regular ongoing trading:

All trading activities have been halted since April 20 and will not resume for the time being till we manage to regroup and re-organize. We expect to have this done within 2 weeks.

IT suffered major trading losses that accumulated over the last several days. In our previous update we already mentioned the substantial margin over exposures and further research revealed even larger margin levels than expected at first.

Accordingly we had to adjust to this new situation and the result is as follows:

All accounts that were in profit or break even status are set to US$1.00 (US Dollar One)

All other accounts are set to 11% of their original investment less interest paid.

We will continue our operation and attempt to recover the loss.

Account holders with the one Dollar pro memoria balance may purchase new shares. All other account holders have a choice to either give us a chance and leave the funds in their accounts or, if you still think we do have a valid concept, you may add funds. Of course you may also log in to your account and withdraw the balance.

We are aware that many of you will be inconvenienced but considering the circumstances this is the only fair solution possible.

Sincerely