NAEB buyer’s club: We’re back on track and will put in Cybook order by the end of the week
“NAEB is accepting the bailout offers,” reports Pam Gadsden, CEO of the buyer’s club selling the Cybook Gen3 E Ink machine with a 1G memory card and other extras for $375 and shipping. “We are back on track and soon to order our first shipment from Bookeen.” Slightly edited, here’s the lowdown from her:
“We order the readers by end of this week, the beginning of next with 1/2 paid. When Bookeen tells us they’re ready to ship we pay the other 1/2. We get them and send them on to the buyers. The funds freed will be used to pay back the loan. [A] delay will come as the checks used to replace the PayPal orders clear the bank. Bookeen will be getting the second shipment of readers later in February.”
Yes, this is the same company advertising in the upper right of the TeleBlog home page, and we want to stay in close touch not just with NAEB but also with customers—feel free to post questions or opinions to the comment area, however you feel about the company or the Cybook Gen3. The club is a genuine grassroots effort started by people fed up with DRM, one reason we solicited NAEB for advertising. Ahead I’ll reproduce the NAEB statement in full.
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NAEB is going to survive.
We’ve dodged a bullet by getting a bailout that will enable us to buy the first order of readers from Bookeen and free the necessary funds from E-OnLine Data.
We’ll be able to use the original payment plan of 1/2 on order and the other 1/2 on shipping which will make everything much simpler.
PayPal is now refunding all of you who placed an order through its service (which NAEB is going to cancel just as soon as that’s finished), and we’ll be using the checks you send us to pay back the loan.
More importantly, having proven our track record we’ll be able re-open the store and take orders for the next lot of readers, online, without fear of any repeats.
We’re amazed and grateful for the trust and generosity that made this possible.
If our benefactors give their consent we’ll tell you their names; otherwise, we’ll respect their wish for privacy. But they are your friends as well as ours, and your checks are what NAEB will use to pay them back with.
Here’s what’s gong to happen.
We order the readers by end of this week, the beginning of next with 1/2 paid.
When Bookeen tells us they’re ready to ship we pay the other 1/2.
We get them and send them on to the buyers.
The funds freed will be used to pay back the loan.
The delay will come as the checks used to replace the PayPal orders clear the bank.
Bookeen will be getting the second shipment of readers later in February.
We’ll be able to accept credit charges for up to 30 days before we’ll have to start over again when the charge is canceled; so we will be carefully timing our acceptance of credit card charges to match Bookeen’s shipping schedule.
This will not affect checks and money orders so you can send them to us at any time.
This will also require some changes in our email notifiction since we will be selling from each shipment as Bookeen receives it till we get to the 1000 mark.
If any of you remained concerned about us sitting on nearly $400,000 for an indefinite period, relax, it’s not going to be happening.
Thank you all for believing in us.
Pamel Gadsden
CEO NAEB
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