The CEO of Racksterli Affiliate Marketing Income Programme has sensationally disclosed that the old investment website of the company was financially healthy before it crashed in March, 2021.
In a live broadcast from his Official Instagram Page on May 5, 2021, he revealed that Racksterli had more than N3 Billion cash (liquidity) and several properties (Assets) on ground.
This revelation becomes highly meaningful and relevant today because it has shown that Racksterli crashed because of Panic the old website glitch created in the minds of Investors.
The website glitch which lasted for more than 6 days created doubt in the minds of Investors and made the major Investors to pull out investments from the company.
Another challenge created by the website glitch had to do with the fact the payout disbursed from was way more than the inflow of cash into the company.
With the imbalance in income and expenditure on the balance sheet of the company, the management made a difficult decision of shutting down the old website of Racksterli.
Mr Chidiebere further revealed that the company has the option and opportunity of running away with Investors Capital, but they chose to do the right thing.
“We thank God and all of our Subscribers that stood by Racksterli till date, even though we acknowledge to losing the trust of most of our Subscribers.
“I want to disclose here that Racksterli had N3 Billion in cash before the glitch experienced in the old website started.
“One thing I want to make clear to everyone is that we had every chance of running away and vanishing into thin air.
“Nothing would have happened to us if we had decided to follow strictly the non-refund policy on Racksterli’s terms and conditions.
“But we did not run away or acted on our terms and conditions; rather we went against the non-refund policy and started Refunding Capital back to Investors.
“We are once again reassuring everyone that we would never stop the refunding process till every Investors in the old website is successfully repaid.
“We are ready to set new records again. Thanks for your time.