Here are the reasons for the failure:
- Rounds 92 & 93 of the FTQ were left untouched. That's $50K worth of debt ahead that needs to be cleared.
- The admins didn't stimulate PV growth. Paidverts is the MAIN revenue generator of MTV and yet the admins decided to leave it alone. They didn't even attempt to stir things up a bit which will create a buzz. If you recall the previous swaps (January and April), people were buying ad packs left and right because a portion of the old development funds were promised to be used for the daily ad issues which the previous admin did. So with PV not moving at all, how do you expect for FTQ to be cleared?
- They could have launched a PV clone or revshare program if they have no intention to stimulate Paidverts' growth. That way, there would be another revenue generator that will clear out FTQ.
I have warned them numerous times (even before the swap) the effects of a dead PV (no growth stimulation) but they didn't listen.
It seems like Jo's shoes is too big for Marc de Koning's to fill. The current CEO doesn't seem to have an inkling on how to get the people to participate more. If only he would stop listening to his cheerleaders for a moment and starts to assess the critics' point of views, MTV wouldn't be in a murky situation it's in.
Oh and one more thing that the admins need to address is the high overhead costs. They're paying way too much.
So how can MTV and PV get out of this mess?
- Launch a PV clone or a revshare to get new revenue
- BAP swap
If they chose to implement the latter, they should do the following:
- BAP swap rate should be the current share price rate which is $0.01 or use $0.0155 so as to make it an exact 1:1 ratio. We don't need a high swap rate since we no longer have virtual funds that we have to worry about. Any purchases that will be made after the BAP swap will come from fresh funds already since we have wiped out all debts by then.
- Remove the share marketplace minimum limit.
- Swap Rounds 92 & 93 using the rate of $0.1 (as in the case of the last swap).
- Use this week's revenue for the FTQ. Last week's revenue wasn't used at all for this week which was a major mistake because it left MTV a big debt ahead
More updates later...