At the end of last month we initiated a new compounding freeze period on all active G.O. Funds. This freeze is needed because we do all our accounting 4 days prior to the 1st of each month and on Wednesdays for the IDF Fund. If we make our calculations, move the required funds into eGold and eBullion to cover withdrawals, and then on the 30th 100 clients decide to change their compounding percentages we are then left with eCurrency shortages and we cannot cover withdrawals.
The freeze period is as follows;
Monthly G.O. Funds (AA, MXMB, RD); 4 days prior to the first. This means changes can be made from the 1st till the 25th or 26th of the month.
Weekly G.O. Funds (IDF); No changes are allowed after 12:00 AM GMT Wednesday. Changes can be made from Friday till Tuesday 11:59PM GMT.
This change was mentioned in a previous newsletter following the short delays on withdrawals that occured between October 1st and 2nd.
Our FAQ will be updated shortly to reflect these changes.
KA ONLINE INC.
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Wednesday, November 08, 2006
Compounding Freeze Within KA ONLINE
Compounding Freeze Announcement from KaOnline, is this a bad sign for the program? We should see more news coming from them soon. See news:
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