Topkick
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Ding, Dong: SOFREP Is Dead.
- Thread starter Marauder06
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D
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No one gets that reference. I don’t even think you do.
I think some of that is going to get sorted out with their new editor. There was a little bit of drama with the way he quit, but I think it will be good for the organization in the long run.
EqualReaction
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I am a former sub of SOFREP. (Throw tomatoes here) I joined when it was fairly small still, and the writers actually took the time to chat with the community. To me, I just wanted a chance to talk to guys who went through BUD/s, and I got to talk to some. My problem was the blatant hypocrisy of Brandon, and the terrible management. I remember he blasted Rob O'Neill for being a liar and as a dude who got fired from his unit, and 5 years later he brings Rob on the SOFREP podcast. It also took like 4 months for them to cancel my membership. The SOFREP podcasts are nice sometimes though. They've brought on many great dudes like Mark Boyatt, John Stryker Meyer, and others. For someone like me I like to hear the views and mindsets of guys who've been through the pipelines. Rest assured though, there are good people who were in the SOFREP community just not in the management.
It had really good potential. But it seems like this is just the latest in a long list of things that Brandon Webb mismanaged. A badge, tab, or scroll can only take you so far. Sometimes character counts.
Between Webb's embellishments, and lies, the final nail in their coffin for me was not only their news release of the Regiment in Syria, but posting that damn video. That was bad enough, but Murphy's comments to those who took issue with it, cemented my disdain for him as well.
Chris Osman (former SEAL, current SOFREP hater) posted this information earlier today. I can't verify its accuracy but it seems consistent with what I know about the situation, and the people involved.
This is allegedly from a (as yet unnamed) vendor looking for his money. Hurricane Group is the parent corporation of SOFREP:
I see a gofundme in the very near future.
It's a soap opera. Without the the soap. Or the opera.
Blizzard
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The last letter @Marauder06 posted makes no sense at all, other than to imply bills are unpaid. As a professional invoice, letter, or whatever you want to call it, that thing is a hot mess.
EqualReaction
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Looks like Brandon Webb's writing that's for sure. If that's true, I hope the whole site resigns.
Yes and no. If you believe that there is other correspondence itemizing out certain account receivable items which are becoming delinquent, the letter he posted makes sense and doesn't appear to be a formal collections email. I don't think they want to realize this is dead in the water and are trying to probably keep it informal to get any response. If they come in hot, it might start the process of shutting down and then they have to start talking to their accountant.
The way I read it:
1. Discussion w/ mutual connection on outstanding payments sets tone that they are not paying any vendors on time and Webb going into hiding.
2. Email not replied to sets tone and timeline of hiding from payments.
3. Invoice # which is easily looked up and tracked by both entities is past due. What does in process mean to Webb/
4. 1 outstanding invoice paid for ~$10k, #1133156 still outstanding.
5. Sounds like a tacticool crate for a monthly subscription. They probably have an agreement Webb will supply a $19 cost item which will have retail of 2x, and Webb has committed to 2900 units or $55,100 worth of inventory. He will receive a payment once the fulfillment in completed and the crates are "sold" on the predetermined split.
6. Total remaining past due balance on his account is $107,685.00. Most likely an amount that would be sent to a collections agency to kickstart a recovery of assets process or enact any 1st liens in contractual agreements.
7. Appears to be in relation to the above balance, however, this can't be for certain. Bringing a balance under 10k would be reasonable, however this is confusing. Seems like the balance of #6 was at one point 117,685, and after the 10k is 107,685.
8. Coming to grips with the fact that they will get stiffed on a lot.
9. Very late payments being addressed. Just trying to salvage some larger item numbers to keep things afloat. This is really common in collection, try and be the first one in to get a large salvo to offset future losses since it is apparent they will owe others large sums as well.
10. Not very late payments being addressed.
What they should do is send them to collections. I hope they had liens on the physical assets in their agreements, and then start the process of closing down their relationship salvaging what they can. There will be a big write off for bad business debt and hopefully they will survive.
E-commerce=few physical assets.
Blizzard
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Non-concur simply because there is not enough information or context for anything in that letter to recommend any sort of action. For most business relationships, the use of collections is a last resort. Maybe this vendor is at that point, maybe they're not. We have no idea. What I can say is that standing on it's own, that letter is all over the place. It seems to touch on a myriad of topics, with no solid references to draw from; none of the figures align. Maybe that's part of their AR problem; confusing/disjointed business communications.
BTW, this is in no way a defense of or commentary on SOFREP. I haven't visited that site for quite some time and never did so regularly. My comments are only related the fact that is an example of an extremely poor business letter.
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Hopefully, you didn't take my comments as you defending SOFREP, I never had that impression. I think this is a snapshot in a long line of conversations. I agree it is poor, I just give slack for thinking this is a point in time snapshot and they should have released all the transcripts between parties.
I disagree on the action part, but having closed down businesses to recoup what scraps were left for investors before alters my frame of mind. Knowing that your agreement docs in those situations are rock solid also changes my perspective. I concede that not knowing theirs or their financials would mean that nothing is for certain.
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