This was taken from Rm3 forums, that was quote from Speedy's forums I think;
The first problem materialized when I agreed to an extortionate rate for advertising on riu. Rollitup was adamant on 35 - 40 % of sale value, this was impossible, he kept getting confused because nirvana could apparently give those kinds of percentages because of the amount of business he sent there way and that they are breeders and the cost is so much lower to them in the first place. Then there was the tude freebies and it was so hard to break through, the tude gave massive numbers of freebies away, stupidly I tried to compete and there just wasn't the budget to do so.
I actually sent rollitup 1000$ in advertising fee's for the short period I was there, the advert wasn't actually doing a lot for me apart from credibility, most of the sales came through what I had initiated on the forums, unfortunately the tude had just rolled out their affiliate program, which riu signed up for.
Every time I refereshed I would see the tudes advert and not mine, so I said whats up with that, he said the tude got an affiliate program now and I need to cover the server bills, this is when he told me that the advertising rate I was on was wrong. He said when we agreed on the price it was 10£ a pack not 10$ which at the time of recession near on doubled the price.
I told him it was impossible, when there are seed packs that I Sell for 20£, there wasn't the margin in it for me to agree to that, so he said to come up with what I can afford, I said I can't really afford 10$ per pack to be honest, sure on a 100$ pack of seeds but most people don't buy 100$ seeds, I said that I would be hoping to reduce the advertising rate, this is when i got dropped completely by riu, my thread closed and my ass booted out.
During this whole mess was the volcano eruption at the same time which closed uk airspace. I had roughly 4000$ in orders on the move, which royal mail decided in their wisdom to send landmail, which takes around 8 weeks.
My customers who were intensely de-satisfied with this, pushed for something to happen, and I agreed to reship these orders, which totally wiped me out and put me on the back foot.
I never got any credit at all for reshipping these orders and the number of people who said they would pay for both should they arrive was high, the number that did was 0.
So now I was left in a predicament, I had put so much effort, time and money into making this seedbank work, it was a choice of let it slip away or keep on battling, which is when this forum was introduced.
It was set up quickly and a lot of loyal customers and friends came over and were part of the club speedy join up.
Not long after, my first paypal account got closed down, for reports of unusual activity. They were prepared to let me keep my paypal account, but in return they wanted invoiced from my suppliers, photo id of myself, an invoice for all orders that they had processed within the last month.
This was quite a difficult and scary prospect and not realistic, so they froze everything that was in the account, a lot of money from customers who still wanted their order and were asking every day for it regularly.
So now the shit was knee deep, to try and bail myself out, I borred money from my father to fill these outstanding orders and moved onto my wifes paypal account (how stupid). this lasted for a very short time and things were just getting back on track and then wham, exactly what happened to the previous paypal account happened to this one.
So now I was totally fucked, I'd lost all the money my father had loaned to me, I had money tied up in 2 paypal accounts and people were after my blood.
I was pretty much broke, didn't have any other income with out the seeds and getting a job was impossible.
So I begun a course to get my cab license, as getting a job would be fairly easy. This process took 3 months during which time I had no income at all.
In desperation before christmas last year, I opened up a google checkout account to take some orders again through the store (mistake) I took around 10-15 orders and shipped a bunch out, the payout was supposed to occur ten days after payment was received, after 21 days it hadn't paid out, so a bunch of people got their orders and their money refunded.
A few people's money did get paid through a month later, so again I was fucked.
I see a lot of people saying shit about me, when the actually number of people that didn't get what they paid for with no refund was between 1 and 15 out of hundreds.
So I said googbye to the store and closed it for the last time. I started work driving my cab and declared that never again would I enter into the seedbmarket.
Then I was getting a lot of pm's from people, who just didn't want to get their private info stolen at the attitude and buy some european an ipad. They contacted me through pm and thats when minor seed orders started happening through western union.
Why has this placed stayed open so long without advertising and revenue, why haven't I just given up on this too already?
Well, I never wanted to let you guys down, the members. Who sacrificed their accounts at other forums to be here and make it what it is. I felt indebted to you after sticking with me and being loyal all this time and wanted to maintain the place you call home. I've also had in the back of my head for some time that one day I would get myself more stable and I would rise up like a phoenix from the ashes and silence the haters.
Well guess what peoples my shit is getting straight, speedyseedz the store will be coming back very very soon, a new store has been built completely from fresh to remove the issues that it had before, its been made tighter and with better function.
Oh shit speedy.... what are you going to do if they are going to close down another paypal account or google checkout.
Fuck that shit, I've got proper secure credit card processing setup with one of the leading global players, i've got a legit merchant account, i've got a legit payment gateway. I've got financial backing. Business account. Everything is being done in the most legit way. 3d secure payments for visa, mastercode for mastercard. 256 bit encryption is on its way to the store and the forum.
Fuck you haters, here I come
Relaunch date tba