Dear ZIPZERO Users,
Over two weeks ago, we shared some great news. We had managed to find an investor that would not only help us catch up with all our outstanding payments, but also help us trudge forward securely towards the future. We’d been confident that the investment process would be complete by now. The reality of the legal and financial hurdles involved in securing a sum of this size means that the delivery of the investment has been delayed. The fact that we are dealing with an international investor is the main reason it is taking so long - there are many hoops of approval they need to jump through to have the investment finalised. The chaos that Covid has brought to the table has not made it any easier or quicker.
We feel terribly sorry that we are forced to deliver such a dismal update once again. The situation is all the more harrowing as our employees and contractors haven’t been paid in full over this time. We have been counting on this injection of funds to cover our obligations to the key individuals who have kept ZIPZERO going in spite of the hardships.
We know you are tired of waiting. What we can vouch for is that the legal part of the transaction is to be complete by the end of next week. This is essential for the full transfer to arrive, which can take up to eight working days. Rest assured that as soon as the funds appear in our account, we will execute all outstanding bill payments immediately. We are committed to covering what we owe to our users.
We’re monitoring the situation daily and doing our utmost to speed the process along. It would have been the most basic solution back in March to suspend operations but we truly believe in our mission. We have devoted so much time and spirit to helping our users pay their bills and we can only ask our users to hang in there just a little bit longer.
We share your frustration and we are looking forward to sharing some positive news very soon.
Thank you again for all your support.
The ZIPZERO Team
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