Mindstream

Brian_68 · Dec 25, 2019

MnFish1 said:
right - I would guess that 99% of people who ordered/received a product would be eligible for a credit card refund - And frankly my guess is that for most of those people with or without a credit card refund - they would re-buy the product. and - if I were (and I have no information) a company doing this - I would a minimum give a refund to those that were not reimbursed - and maximum - a free subscription to those that ordered the product - and didn't get to use it 9and didn't get a refund). based on my research - most people should get a refund, the Cc will go after the assets - and whatever they claim will be a benefit to whomever decides the technology is worthwhile

The credit card company writes it off and makes it up in the 20% interest they charge. They do not have the time, nor desire or resources to fight every company in court.

MnFish1 · Dec 25, 2019

Brian_68 said:
The credit card company writes it off and makes it up in the 20% interest they charge. They do not have the time, nor desire or resources to fight every company in court.

I never said that they would fight it - I certainly didnt say they would 'fight every company' - the implication was - that rather than some who are saying talk to the FTC or small claims court - that the credit card company has better resources to fight it - - I'm not a credit card company - I only meant that for the people here who were saying 'its totally unfair or a fraud, etc etc' - that if the credit card company covers its loss - its a drop in the bucket. They also have chargeback insurance - so there is that. The credit card also gets money from a percentage of each transaction and the yearly fees they charge - thats clear.

robbyg · Dec 26, 2019

MnFish1 said:
I never said that they would fight it - I certainly didnt say they would 'fight every company' - the implication was - that rather than some who are saying talk to the FTC or small claims court - that the credit card company has better resources to fight it - - I'm not a credit card company - I only meant that for the people here who were saying 'its totally unfair or a fraud, etc etc' - that if the credit card company covers its loss - its a drop in the bucket. They also have chargeback insurance - so there is that. The credit card also gets money from a percentage of each transaction and the yearly fees they charge - thats clear.

Honestly I don’t know why people who got refunded care so much about how it happened and who lost out in the end. Over the last decade I have had several refunds from PayPal and Credit Card companies and once I got back my money that was the last time I thought about it.

chicago · Dec 26, 2019

I guess we all care.. I am now wasting time having to follow up with my credit card company. Fight with them and they send out notices that the matter is still considered disputed as if I have received the product. Just got a notice yesterday that the company has responded but I do not yet know what the response is.

MnFish1 · Dec 26, 2019

chicago said:
I guess we all care.. I am now wasting time having to follow up with my credit card company. Fight with them and they send out notices that the matter is still considered disputed as if I have received the product. Just got a notice yesterday that the company has responded but I do not yet know what the response is.

Are you needing to fight with them? I mean - are they denying your refund - or whats going on? On mine if I go to the dispute center - it says 'closed' - and I have a credit on my account.

chicago · Jan 3, 2020

waiting on them to close it out.. said they received a response from seller.. time will tell. I do not know the exact response..

Citrus · Jan 3, 2020

I signed up to be notified when available and received an email that they do not know when they will be taking orders again. The email was not very assuring the company is going to make it

Scurvy · Jan 3, 2020

Citrus said:
I signed up to be notified when available and received an email that they do not know when they will be taking orders again. The email was not very assuring the company is going to make it

They have already folded.

TheHarold · Jan 3, 2020

Citrus said:
I signed up to be notified when available and received an email that they do not know when they will be taking orders again. The email was not very assuring the company is going to make it

Old news- the company is closed. Its up in the air whether they will be bought out so the tech can be pursued.

MnFish1 · Jan 3, 2020

chicago said:
waiting on them to close it out.. said they received a response from seller.. time will tell. I do not know the exact response..

FYI - Mine was sent in 11/22 - it was closed 11/24. I just called American Express they verified 'its closed'. (i.e. the credit was posted to my account right away. I have to say - it took a little questioning to determine it was 'closed for good'

robbyg · Jan 3, 2020

A few day ago something I suspected was confirmed. Many of the refunds made to customers did actually come from SAI. I was told about 50-60% of all refunds came from SAI before they ran out of cash to do more. That explains why my Credit Card refund happened so fast and looked like it had been refunded by them and not through the process the CC had explained to me.

BTW the company has not folded. They are still operational in the sense that the monthly bills are being paid and the CEO is at the offices looking for a way forward with hopefully a new partner.

TheHarold · Jan 3, 2020

robbyg said:
A few day ago I learned something I suspected. Many of the refunds made to customers did actually come from SAI. I was told about 50-60% of all refunds came from SAI before they ran out of cash to do more. That explains why my Credit Card refund happened so fast and looked like it had been refunded by them and not through the process the CC had explained to me.

BTW the company has not folded. They are still operational in the sense that the monthly bills are being paid and the CEO is at the offices looking for a way forward with hopefully a new partner.

Are these the same “sources” that were advising you a few months back?

MnFish1 · Jan 3, 2020

robbyg said:
A few day ago I learned something I suspected. Many of the refunds made to customers did actually come from SAI. I was told about 50-60% of all refunds came from SAI before they ran out of cash to do more. That explains why my Credit Card refund happened so fast and looked like it had been refunded by them and not through the process the CC had explained to me.

BTW the company has not folded. They are still operational in the sense that the monthly bills are being paid and the CEO is at the offices looking for a way forward with hopefully a new partner.

Curious do you know if they are sending out disks still?

MnFish1 · Jan 3, 2020

TheHarold said:
Are these the same “sources” that were advising you a few months back?

My credit card said basically the same thing - that the company was going to refund their money - which is why my case which was opened 11/22 was closed 11/24.

lexinverts · Jan 3, 2020

MnFish1 said:
Curious do you know if they are sending out disks still?

They are not.

robbyg · Jan 3, 2020

lexinverts said:
They are not.

Nope, no disks, but the machines to make them are just sitting there.

markster27 · Jan 13, 2020

The dispute should be closed this week as been 30 days since sent to AMEX from my bank and I see no refunds from SAI.

MnFish1 · Jan 13, 2020

markster27 said:
The dispute should be closed this week as been 30 days since sent to AMEX from my bank and I see no refunds from SAI.

Mine was closed after 2 days (dont know why so quickly from AMEX). At the point of a chargeback - I'm not sure who the 'creditor' is - is it the card company - or the purchaser. I would think that since the card company paid me - that if anyone was going to get paid - they would pay the CC - if they are doing that - but my guess is that SAI is not sending out money at this point to purchasers (and probably also not to CC companies). BTW - did you get a provisional credit quickly from AMEX>?