'All Things Neteller. (including a Poll).'.

[SENDITIN]

Neteller Balance Sheet

Looks like Neteller had some 165 million in cash towards U.S customers as of 6/30/06 so I doubt bankruptcy is an option.....sounds like the whole issue is who will handle the money shuffle in the U.S. for neteller.




CONSOLIDATED BALANCE SHEET
[FONT=Times New Roman,Times New Roman]AS AT 30 JUNE 2006 (UNAUDITED)
[/FONT]<TABLE cellSpacing=0 cellPadding=7 width=643 border=1><TBODY><TR><TD vAlign=top width="50%" colSpan=2 height=21>

30 June 2006​

​

</TD><TD vAlign=top width="50%" colSpan=2 height=21>[FONT=Times New Roman,Times New Roman]

31 December 2005 [/FONT]​

</TD></TR><TR><TD vAlign=top width="50%" colSpan=2 height=39>

US$
(Unaudited)​

​

</TD><TD vAlign=top width="50%" colSpan=2 height=39>[FONT=Times New Roman,Times New Roman]

US$
(Audited) [/FONT]​

</TD></TR><TR><TD vAlign=top colSpan=4 height=21>ASSETS
</TD></TR><TR><TD vAlign=top colSpan=4 height=21>[FONT=Times New Roman,Times New Roman]CURRENT ASSETS [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Cash and cash equivalents [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>135,921,390
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]114,570,429 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Restricted cash (Note 3) [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>28,829,015
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]16,116,858 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=39>[FONT=Times New Roman,Times New Roman]Qualifying Liquid Assets held for European customers (Note 4) [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=39>48,066,791
</TD><TD vAlign=top width="33%" height=39>[FONT=Times New Roman,Times New Roman]31,595,306 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Receivable from customers [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>2,586,000
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]1,947,000 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Trade and other receivables [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>1,771,910
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]250,958 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Prepaid expenses and deposits [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>5,236,350
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]1,390,453 [/FONT]
</TD></TR><TR><TD vAlign=top width="50%" colSpan=2 height=21>222,411,456
</TD><TD vAlign=top width="50%" colSpan=2 height=21>[FONT=Times New Roman,Times New Roman]165,871,004 [/FONT]
</TD></TR><TR><TD vAlign=top colSpan=4 height=21>[FONT=Times New Roman,Times New Roman]NON-CURRENT ASSETS [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Capital assets [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>18,032,360
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]9,524,848 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Intangible assets [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>28,630,947
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]26,803,576 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Goodwill [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>16,574,367
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]16,020,663 [/FONT]
</TD></TR><TR><TD vAlign=top width="50%" colSpan=2 height=21>285,649,130
</TD><TD vAlign=top width="50%" colSpan=2 height=21>[FONT=Times New Roman,Times New Roman]218,220,091 [/FONT]
</TD></TR><TR><TD vAlign=top colSpan=4 height=21>LIABILITIES
</TD></TR><TR><TD vAlign=top colSpan=4 height=21>[FONT=Times New Roman,Times New Roman]CURRENT [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Trade and other payables [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>5,204,924
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]5,493,711 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Payable to European customers (Note 4) [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>41,266,868
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]28,891,291 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Income taxes payable [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>4,976,397
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]3,559,783 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Conditional consideration payable [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>2,598,746
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]2,608,001 [/FONT]
</TD></TR><TR><TD vAlign=top width="50%" colSpan=2 height=21>54,046,935
</TD><TD vAlign=top width="50%" colSpan=2 height=21>[FONT=Times New Roman,Times New Roman]40,552,786 [/FONT]
</TD></TR><TR><TD vAlign=top colSpan=4 height=21>[FONT=Times New Roman,Times New Roman]NON-CURRENT LIABILITIES [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Conditional consideration payable [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>-
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]2,604,741 [/FONT]
</TD></TR><TR><TD vAlign=top width="50%" colSpan=2 height=21>54,046,935
</TD><TD vAlign=top width="50%" colSpan=2 height=21>[FONT=Times New Roman,Times New Roman]43,157,527 [/FONT]
</TD></TR><TR><TD vAlign=top colSpan=4 height=21>SHAREHOLDERS’ EQUITY
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Share capital (Note 5) [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>39,777
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]39,794 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Share premium [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>50,488,152
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]48,410,150 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Capital redemption reserve [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>94
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]- [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Equity reserve on share option issuance [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>6,151,686
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]3,576,870 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Translation reserve [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>(56,836)
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman](1,497,326) [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]Accumulated profits [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=21>174,979,322
</TD><TD vAlign=top width="33%" height=21>[FONT=Times New Roman,Times New Roman]124,533,076 [/FONT]
</TD></TR><TR><TD vAlign=top width="50%" colSpan=2 height=21>231,602,195
</TD><TD vAlign=top width="50%" colSpan=2 height=21>[FONT=Times New Roman,Times New Roman]175,062,564 [/FONT]
</TD></TR></TBODY></TABLE>

 

[sean1]

That $174,979,322 is profit.

They were not required to disclose US customer cash holdings, I dont believe...

Sean

 

[Paterno]

I would assume the Cash players held in Neteller on 6/30/06 was restricted?

If correct, the $136 million was just for day to day operations. Amazing.

 

[SENDITIN]

I'm adding the cash numbers up top..136 + 29...

 

[Paterno]

That $174,979,322 is profit.

They were not required to disclose US customer cash holdings, I dont believe...

Sean

How many years profits? From the statement, it looks like they made $50 million from 12/31/05 to 6/30/06.

 

[SENDITIN]

More info:

3. Restricted Cash
<DIR><DIR>[FONT=Times New Roman,Times New Roman]The Company holds trust accounts with its principal banker, which are segregated from operating funds. Balances in the trust accounts are maintained at a sufficient level to fully offset amounts owing to NETELLER merchants and customers. There exists a legal right of offset between the balances owing to the customers and merchants and the cash balances segregated in the trust accounts. As such only the net balance of surplus cash is disclosed on the balance sheet as Restricted Cash. The Company, as a matter of policy, holds amounts of excess cash in the trust accounts to ensure intraday balance movements do not result in a shortfall in the cash position.
At 30 June 2006, the Group has the following balances:
</DIR></DIR>[/FONT]

<TABLE cellSpacing=0 cellPadding=7 width=542 border=1><TBODY><TR><TD vAlign=top width="33%" colSpan=2 height=33>

Trust Account Funds​

​

​

</TD><TD vAlign=top width="33%" colSpan=2 height=33>

Balance Owing​

​

​

</TD><TD vAlign=top width="33%" colSpan=2 height=33>

Restricted Cash​

​

​

</TD></TR><TR><TD vAlign=top width="33%" colSpan=2 height=17>

US$​

​

​

</TD><TD vAlign=top width="33%" colSpan=2 height=17>

US$​

​

​

</TD><TD vAlign=top width="33%" colSpan=2 height=17>

US$​

​

​

</TD></TR><TR><TD vAlign=top width="25%" height=17>[FONT=Times New Roman,Times New Roman]Customers [/FONT]
</TD><TD vAlign=top width="25%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]131,935,637 [/FONT]
</TD><TD vAlign=top width="25%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]120,079,404 [/FONT]
</TD><TD vAlign=top width="25%" height=17>[FONT=Times New Roman,Times New Roman]11,856,233 [/FONT]
</TD></TR><TR><TD vAlign=top width="25%" height=17>[FONT=Times New Roman,Times New Roman]Merchants [/FONT]
</TD><TD vAlign=top width="25%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]116,961,662 [/FONT]
</TD><TD vAlign=top width="25%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]99,988,880 [/FONT]
</TD><TD vAlign=top width="25%" height=17>[FONT=Times New Roman,Times New Roman]16,972,782 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]248,897,299 [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]220,068,284 [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]28,829,015 [/FONT]
</TD></TR></TBODY></TABLE>​

<DIR><DIR>At 31 December 2005, the Group had the following balances:
</DIR></DIR>

<TABLE cellSpacing=0 cellPadding=7 width=542 border=1><TBODY><TR><TD vAlign=top width="33%" colSpan=2 height=33>

Trust Account Funds​

​

​

</TD><TD vAlign=top width="33%" colSpan=2 height=33>

Balance Owing​

​

​

</TD><TD vAlign=top width="33%" colSpan=2 height=33>

Restricted Cash​

​

​

</TD></TR><TR><TD vAlign=top width="33%" colSpan=2 height=17>

US$​

​

​

</TD><TD vAlign=top width="33%" colSpan=2 height=17>

US$​

​

​

</TD><TD vAlign=top width="33%" colSpan=2 height=17>

US$​

​

​

</TD></TR><TR><TD vAlign=top width="25%" height=17>[FONT=Times New Roman,Times New Roman]Customers [/FONT]
</TD><TD vAlign=top width="25%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]108,680,447 [/FONT]
</TD><TD vAlign=top width="25%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]97,522,961 [/FONT]
</TD><TD vAlign=top width="25%" height=17>[FONT=Times New Roman,Times New Roman]11,157,486 [/FONT]
</TD></TR><TR><TD vAlign=top width="25%" height=17>[FONT=Times New Roman,Times New Roman]Merchants [/FONT]
</TD><TD vAlign=top width="25%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]112,010,026 [/FONT]
</TD><TD vAlign=top width="25%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]107,050,654 [/FONT]
</TD><TD vAlign=top width="25%" height=17>[FONT=Times New Roman,Times New Roman]4,959,372 [/FONT]
</TD></TR><TR><TD vAlign=top width="33%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]220,690,473 [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]204,573,615 [/FONT]
</TD><TD vAlign=top width="33%" colSpan=2 height=17>[FONT=Times New Roman,Times New Roman]16,116,858 [/FONT]
</TD></TR></TBODY></TABLE>​

 

[lander]

DOJ didn't give a sh*t that it's number on POS err ... BOS f'd a lot of players. Don't see why they'd care now.

 

[lander]

This supports the "110% of balances in trust" assertion.

 

[sean1]

There is no doubt Neteller has the money.

Other than the US mint, I can not think of a less money risk business.

Sean

 

[royalfan]

Is anyone having any success getting pending transfers cancelled. Unfortunataly I am sure as hell not. This is frutrating beyond belief. They are saying it cannot be done. Why the hell not is the question I have.

 

[Illini]

Is anyone having any success getting pending transfers cancelled. Unfortunataly I am sure as hell not. This is frutrating beyond belief. They are saying it cannot be done. Why the hell not is the question I have.

you on yahoo im right now?

 

[sean1]

I was able to stop pending transfers about 7-10 days ago. Today, a friend tried and was told no. I had to call several times to get the right rep. She's gonna try again tonight....

It is hit or miss.

There is no reason they can not cancel pending transfers so you can spend the money with non gambling merchants!

-Sean

 

[freebie]

Neteller isn't stiffing players. Non-US players are able to withdraw to debit card, and get paid by EFT, etc. So this issue is clearly not with Neteller, the issue is with the US banking system. I can't think of any stiff operation that chose to pay one group of citizens while stiffing another. I don't blame you guys. Your government and media has taught you to live in fear. I still can't get over how much fear 9/11 caused you guys. 3000 died. On a world scale of tragedy, that is incredibly minor.

No kidding, Bush has been fucking with our minds every month with the so called "threat alert" being raised to red another day then drop back down to yellow. It's like they're trying to brainwash us. I don't know what to believe or who to believe anymore.

 

[royalfan]

only have aol im unfortunately going. That an option for you? If not can try to get it going.

 

[Illini]

I'll check my email.

 

[royalfan]

sent

 

[anxietyattack]

Is it a problem to deposit a large sum from a check from neteller into your bank account?

Over 10K might be. Did they try and tell u that they will send
u a check in 6-8 weeks? That's what they told me. I was like speechless.

 

[boatboatboat]

3000 died. On a world scale of tragedy, that is incredibly minor.

huh?

name the last act of war that killed 3000 in one day.

 

[ClipJoint]

There is no doubt they have the money as I have been saying all along. My stance will never change on that.

BUT, will they have the same amount once the government goes after them?

 

[dialitup]

DOJ didn't give a sh*t that it's number on POS err ... BOS f'd a lot of players. Don't see why they'd care now.

Neteller funds are a little different in that they can theoretically be used for purposes that even the United States government deems legal. I personally used Neteller to play horses at AmericaTab/WinTicket.com, and that is a legal operation in the United States.

FUNDS WILL BE HELD HOSTAGE regardless.