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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John offers to pay shareholders $1 for $11,000,000 he loaned to the trading company he controlled and operated to support his billionaire lifestyle.
Quote from Reality Checker on April 24, 2024, 11:02 am
E-Mersion Media Pty Ltd is the parent company where shares are held by investors. Over $15 million raised, $11 million of which was loaned to the trading company.
E-Mersion Media (Aust) Pty Ltd – is the trading company where staff were employed and where most of the debt is. John is the sole Director of this company.
John’s September 2023 “Important Update to Shareholders” finished with:
“We understand that these developments may raise questions and concerns, and we remain committed to providing transparent and timely updates as we work through these challenges and pursue new opportunities. Your continued trust and support are invaluable to us, and we look forward to better days ahead.”
John hasn’t told shareholders about the trading company being close to winding up by the Supreme Court. Worried about a liquidator getting involved and checking the accounts (which would show their mismanagement and theft), John, Chris and their buddy accountant David Jaffey, decided to put the company into Administration. They chose an Administrator they know, trying to keep the process under their control and dodge any outside eyes.
The Administrator quickly called a creditors’ meeting last Friday, giving everyone just a couple of days to register. At the zoom meeting, which John was too cowardly to attend, the Administrator put forward John’s proposal:
- Pay the parent company $1 as full payment for the $11 million of shareholder money transferred to the trading company
- Settle over $1 million in unpaid PAYG taxes with the ATO for $1
- Pay SRO $1 for $200,000 in unpaid work cover
- Pay several past employees who are owed hundreds of thousands just $1 each
- Pay 100% of what’s owed to the few remaining employees
- Offer all other creditors $1 each to settle their debts
John, wearing his director hat for the parent company, voted in favour of his own proposal while every other creditor said no.
So as the director of both companies, John’s trying to clear a massive $11 million debt and dodge any personal liability or outside scrutiny of the trading company he controlled as sole director. No consultation with shareholders. So much for full transparency.
At the start of the meeting, the Administrator read a statement from John where he trotted out the usual excuses, trying to pin the blame elsewhere:
- former employees violated their contracts, which is why he hasn’t paid them and is offering just $1.
- Blaming financial issues on FIFA and the App being pulled from Google Play (conveniently leaving out the fact that the App was still running on Apple, and made no money anyway).
- The usual ‘dog ate my homework’ excuses.
As shareholders, we’re left in the dark, never getting truthful or timely updates—just a bunch of lies and made-up stories from the fraudster brothers pointing fingers at others.
John and Chris Iliopoulos are charlatans and will fabricate stories to distract from their shady and fraudulent actions, with the help of Peter Stern and Chris Gourlias. The four shameless amigos. Pure evil.
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E-Mersion Media Pty Ltd is the parent company where shares are held by investors. Over $15 million raised, $11 million of which was loaned to the trading company. E-Mersion Media (Aust) Pty Ltd – is the trading company where staff were employed and where most of the debt is. John is the sole Director of this company. |
John’s September 2023 “Important Update to Shareholders” finished with:
“We understand that these developments may raise questions and concerns, and we remain committed to providing transparent and timely updates as we work through these challenges and pursue new opportunities. Your continued trust and support are invaluable to us, and we look forward to better days ahead.”
John hasn’t told shareholders about the trading company being close to winding up by the Supreme Court. Worried about a liquidator getting involved and checking the accounts (which would show their mismanagement and theft), John, Chris and their buddy accountant David Jaffey, decided to put the company into Administration. They chose an Administrator they know, trying to keep the process under their control and dodge any outside eyes.
The Administrator quickly called a creditors’ meeting last Friday, giving everyone just a couple of days to register. At the zoom meeting, which John was too cowardly to attend, the Administrator put forward John’s proposal:
- Pay the parent company $1 as full payment for the $11 million of shareholder money transferred to the trading company
- Settle over $1 million in unpaid PAYG taxes with the ATO for $1
- Pay SRO $1 for $200,000 in unpaid work cover
- Pay several past employees who are owed hundreds of thousands just $1 each
- Pay 100% of what’s owed to the few remaining employees
- Offer all other creditors $1 each to settle their debts
John, wearing his director hat for the parent company, voted in favour of his own proposal while every other creditor said no.
So as the director of both companies, John’s trying to clear a massive $11 million debt and dodge any personal liability or outside scrutiny of the trading company he controlled as sole director. No consultation with shareholders. So much for full transparency.
At the start of the meeting, the Administrator read a statement from John where he trotted out the usual excuses, trying to pin the blame elsewhere:
- former employees violated their contracts, which is why he hasn’t paid them and is offering just $1.
- Blaming financial issues on FIFA and the App being pulled from Google Play (conveniently leaving out the fact that the App was still running on Apple, and made no money anyway).
- The usual ‘dog ate my homework’ excuses.
As shareholders, we’re left in the dark, never getting truthful or timely updates—just a bunch of lies and made-up stories from the fraudster brothers pointing fingers at others.
John and Chris Iliopoulos are charlatans and will fabricate stories to distract from their shady and fraudulent actions, with the help of Peter Stern and Chris Gourlias. The four shameless amigos. Pure evil.
Quote from paul_white on April 24, 2024, 12:31 pmOh god, Chris Gourlias ha…apparently going round threatening former employee’s over the phone and in person if they don’t comply with nonsense allegations.
Under the guise of “trying to help you my friend”
Just a dumb heavy they bring in to do their dirty work when all their avenues are exhausted, and treat him as such.
Think you’re slick boys…all of you, you’re fucked.
Oh god, Chris Gourlias ha…apparently going round threatening former employee’s over the phone and in person if they don’t comply with nonsense allegations.
Under the guise of “trying to help you my friend”
Just a dumb heavy they bring in to do their dirty work when all their avenues are exhausted, and treat him as such.
Think you’re slick boys…all of you, you’re fucked.
Quote from Free Legal Advice on April 24, 2024, 3:42 pm
- Blaming financial issues on FIFA and the App being pulled from Google Play (conveniently leaving out the fact that the App was still running on Apple, and made no money anyway).
The contractual agreement between E-Mersion Media and FIFA was terminated due to multiple breaches committed by E-Merison Media. The termination was precipitated by E-Merison Media’s failure to fulfil its financial obligation of USD$400,000, which constituted the agreed-upon licence fee.
Furthermore, E-Merison Media engaged in actions deemed as false representations by purporting to have been appointed by FIFA as an “official partner of the FIFA,” which it was not. Pursuant to said breach, E-Merison Media was obligated to remove its applications from the Apple App Store and Google Play Store, and remove all references to FIFA from its communications and platforms, as well as to promptly settle any outstanding monetary fees owed as per the terms of the contract.
Subsequent to the aforementioned breaches, FIFA was made aware of E-Merison Media’s status as recorded with Companies House, where the Company confirmation statement was listed as “overdue” with an active “proposal to strike off” status. Such designation may constitute a criminal offence by both the Company and its directors under the prevailing legal framework.
In light of the foregoing, FIFA exercised its rights, and demanded E-Merison Media provide clarifications pertaining to the remedial measures being undertaken to rectify the aforementioned statutory non-compliance and to provide insights into the financial solvency of the Company and its affiliate, E-Merison Media Pty Ltd.
E-Merison Media failed to adhere to the stipulated requests outlined by FIFA.
It should be duly noted that FIFA maintains no affiliation with E-Merison Media. E-Merison Media and its directors should be be aware that any mention to FIFA may warrant additional legal action.
- Blaming financial issues on FIFA and the App being pulled from Google Play (conveniently leaving out the fact that the App was still running on Apple, and made no money anyway).
The contractual agreement between E-Mersion Media and FIFA was terminated due to multiple breaches committed by E-Merison Media. The termination was precipitated by E-Merison Media’s failure to fulfil its financial obligation of USD$400,000, which constituted the agreed-upon licence fee.
Furthermore, E-Merison Media engaged in actions deemed as false representations by purporting to have been appointed by FIFA as an “official partner of the FIFA,” which it was not. Pursuant to said breach, E-Merison Media was obligated to remove its applications from the Apple App Store and Google Play Store, and remove all references to FIFA from its communications and platforms, as well as to promptly settle any outstanding monetary fees owed as per the terms of the contract.
Subsequent to the aforementioned breaches, FIFA was made aware of E-Merison Media’s status as recorded with Companies House, where the Company confirmation statement was listed as “overdue” with an active “proposal to strike off” status. Such designation may constitute a criminal offence by both the Company and its directors under the prevailing legal framework.
In light of the foregoing, FIFA exercised its rights, and demanded E-Merison Media provide clarifications pertaining to the remedial measures being undertaken to rectify the aforementioned statutory non-compliance and to provide insights into the financial solvency of the Company and its affiliate, E-Merison Media Pty Ltd.
E-Merison Media failed to adhere to the stipulated requests outlined by FIFA.
It should be duly noted that FIFA maintains no affiliation with E-Merison Media. E-Merison Media and its directors should be be aware that any mention to FIFA may warrant additional legal action.
Quote from Mark Bartlett on April 25, 2024, 1:47 pmJesus Christ you know so much, what a professor. Maybe instead of wasting your insights, knowledge and energy on here, go take legal action.
Jesus Christ you know so much, what a professor. Maybe instead of wasting your insights, knowledge and energy on here, go take legal action.
Quote from paul_white on April 30, 2024, 12:10 pmQuote from Mark Bartlett on April 25, 2024, 1:47 pmJesus Christ you know so much, what a professor. Maybe instead of wasting your insights, knowledge and energy on here, go take legal action.
The issue lies with you, John, and your cohorts’ extensive history of deceit. From your initial con, even swindling your own parents, you’ve been perfecting your craft, believing yourselves invincible. Despite exploiting every opportunity and individual you encounter, evident in your lack of genuine friendships, save for your equally complicit spouses, your hubris blinds you to impending consequences.
As the saying goes and the phrase you’ve had your monkey recite for you on multiple occasions, “angry shareholders are coming to pay you a visit,” only this time, it’s the overdue retribution for decades of manipulation and fraud.
Quote from Mark Bartlett on April 25, 2024, 1:47 pmJesus Christ you know so much, what a professor. Maybe instead of wasting your insights, knowledge and energy on here, go take legal action.
The issue lies with you, John, and your cohorts’ extensive history of deceit. From your initial con, even swindling your own parents, you’ve been perfecting your craft, believing yourselves invincible. Despite exploiting every opportunity and individual you encounter, evident in your lack of genuine friendships, save for your equally complicit spouses, your hubris blinds you to impending consequences.
As the saying goes and the phrase you’ve had your monkey recite for you on multiple occasions, “angry shareholders are coming to pay you a visit,” only this time, it’s the overdue retribution for decades of manipulation and fraud.