Originally Posted by MobiusMike

I appreciate the difficult position Michael O and the folks at ePassporte are in. I would hope that following statements from them quickly resolve the following:

1. In the communication above you state that ePassporte did not "see this coming". Were negotiations to resolve the issue that resulted in the program closure being conducted with St. Kitts bank? Did these negotiations unexpectedly break down suddenly causing the "unanticipated closure" or was this a completely unanticipated closure of the product?

2. Have you been able to verify that a gross amount that meets a "reasonability check" against what ePassporte shows as outstanding VV accounts total balances is either on deposit or frozen at St. Kitts? Are you currently working jointly with St. Kitts to verify VV account balances or has this process not been started yet?

3. Has St. Kitts' Ministry of Finance and more specifically the Financial Regulatory Department been informed of St. Kitts actions against their Visa cardholders? If so, is the Ministry's office directly involved in helping to negotiate a release of these funds?

4. Is there currently any investigation by either St. Kitts Ministry of Finance, the U.S. FTC or any other regulatory agency concerning the disposition of the Virtual Visa balances or the policies/procedures or operations of the ePassporte program?