This message board is for the shareholders of E-MAG.TECH PTY LTD (formerly E-MERSION MEDIA HOLDINGS PTY LTD ACN: 631 146 177) and E-MERSION MEDIA PTY LTD (ACN: 605 098 539) and E-MERSION MEDIA (AUST) PTY LTD (ACN: 637 337 641 – INSOLVENT).
As the Directors refuse to open disclosure with shareholders regarding the state of our investment and have not held an investor meeting in four years, we have set this up to openly help one another and discuss the business and its leadership and founders John Iliopoulos, Chris Iliopoulos, and Peter Stern.
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e-Mersion Media is a SCAM
Quote from Guest on October 22, 2023, 10:38 amFrom the now deleted blog.
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Earlier this month, I took to my keyboard to expose the deceptive dealings of e-Mersion Media, and it’s founders who have been manipulating people into working on their digital magazines without compensation, whilst squandering investors’ funds to maintain their extravagant lifestyle. Just a week later, a colleague requested that I retract the post, asserting that an insurance claim lodged by e-Mersion was underway that would guarantee everyone’s outstanding payments were fulfilled. Regrettably, this assurance has not materialised.
Let me be honest with you, and please, if you’re reading this, take heed: it’s become painfully clear to me that we’re unlikely to see a penny of the funds we’re owed for the hard work we’ve poured into these projects. This realisation cuts deeply, knowing how much faith we all placed in these endeavours, and the quality of work we delivered.
The insurance claim rests on the removal of the e-Mersion FIFA app from the Android store due to a supposed “hack”. How this could happen to the Google App Store is beyond my understanding. But even if it had, Android is but half the world. So, where’s the income from the Apple version of the app that wasn’t hacked? Either John and Chris have spent it on themselves, or there was none and there is no real grounds for lost income because there was no income to be lost. Either way, this is another lie in a long history of deception.
To cut a long story short, one would remiss if they didn’t liken e-Mersion Media to a ponzi scheme. The founders lure naive investors and prospective partners alike with the promise of future profits, only to leave them high and dry. Their modus operandi is to win contracts by either offering services for free (or rather, at a loss), or by actually paying for the privilege of servicing their clients. They raise funds, which they then splash out on their own lifestyle and to clear previous debts, constantly dangling the next big client to new investors and those owed money as the hope of salvation. Despite apps for Red Bull, Liverpool Football Club, Formula 1, the FIFA World Cup, Newsweek and more, each venture has ended in a loss. The directors then blame the failure on some slight against them, or someone else on the team, each and every time. Like narcissists stuck in their own echo chamber. Every story and every promise is, simply put, a lie.
How can a company that has managed to raise £15 million have nothing to show for it? Where has all that money gone? Luxury villas in the Middle East, business-class flights, renowned “advisors”, and members of the royal family and former UEFA footballers on hefty monthly retainers. All for the sake of maintaining appearances, appearing successful to wow the next unsuspecting investor, and of course living the billionaire lifestyle while the fruits of everyone’s labour are squandered.
Despite its Australian founders and directors, the company presents itself as a UK entity, hiring local professionals across various fields. Unfortunately, they leave these hardworking individuals, many of whom have families and mortgages to pay, in the lurch with unpaid invoices. Current outstanding debts total £3 million, including unpaid contractor and supplier bills, license fees, and taxes, I’m told. As if the knowledge that I am not alone should somehow lessen the sting. And while I can not be sure of the exact number, I know how many struggling businesses have been left worse off after dealing with these two “entrepreneurs.”
If an offer of work comes your way, I advise you to run in the other direction. And for those who find themselves in the unfortunate position of being owed money, as so many of us are, you may have to prepare to kiss it goodbye, as many before us have.
From the now deleted blog.
–
Earlier this month, I took to my keyboard to expose the deceptive dealings of e-Mersion Media, and it’s founders who have been manipulating people into working on their digital magazines without compensation, whilst squandering investors’ funds to maintain their extravagant lifestyle. Just a week later, a colleague requested that I retract the post, asserting that an insurance claim lodged by e-Mersion was underway that would guarantee everyone’s outstanding payments were fulfilled. Regrettably, this assurance has not materialised.
Let me be honest with you, and please, if you’re reading this, take heed: it’s become painfully clear to me that we’re unlikely to see a penny of the funds we’re owed for the hard work we’ve poured into these projects. This realisation cuts deeply, knowing how much faith we all placed in these endeavours, and the quality of work we delivered.
The insurance claim rests on the removal of the e-Mersion FIFA app from the Android store due to a supposed “hack”. How this could happen to the Google App Store is beyond my understanding. But even if it had, Android is but half the world. So, where’s the income from the Apple version of the app that wasn’t hacked? Either John and Chris have spent it on themselves, or there was none and there is no real grounds for lost income because there was no income to be lost. Either way, this is another lie in a long history of deception.
To cut a long story short, one would remiss if they didn’t liken e-Mersion Media to a ponzi scheme. The founders lure naive investors and prospective partners alike with the promise of future profits, only to leave them high and dry. Their modus operandi is to win contracts by either offering services for free (or rather, at a loss), or by actually paying for the privilege of servicing their clients. They raise funds, which they then splash out on their own lifestyle and to clear previous debts, constantly dangling the next big client to new investors and those owed money as the hope of salvation. Despite apps for Red Bull, Liverpool Football Club, Formula 1, the FIFA World Cup, Newsweek and more, each venture has ended in a loss. The directors then blame the failure on some slight against them, or someone else on the team, each and every time. Like narcissists stuck in their own echo chamber. Every story and every promise is, simply put, a lie.
How can a company that has managed to raise £15 million have nothing to show for it? Where has all that money gone? Luxury villas in the Middle East, business-class flights, renowned “advisors”, and members of the royal family and former UEFA footballers on hefty monthly retainers. All for the sake of maintaining appearances, appearing successful to wow the next unsuspecting investor, and of course living the billionaire lifestyle while the fruits of everyone’s labour are squandered.
Despite its Australian founders and directors, the company presents itself as a UK entity, hiring local professionals across various fields. Unfortunately, they leave these hardworking individuals, many of whom have families and mortgages to pay, in the lurch with unpaid invoices. Current outstanding debts total £3 million, including unpaid contractor and supplier bills, license fees, and taxes, I’m told. As if the knowledge that I am not alone should somehow lessen the sting. And while I can not be sure of the exact number, I know how many struggling businesses have been left worse off after dealing with these two “entrepreneurs.”
If an offer of work comes your way, I advise you to run in the other direction. And for those who find themselves in the unfortunate position of being owed money, as so many of us are, you may have to prepare to kiss it goodbye, as many before us have.