US/EST: 19 Oct 2019 17:50

Shmendric - Other - "Treat your Poker like a Business!" - Bankroll

Tournament information
Other Other
Registered As: User has not supplied their screen name for this event.
Buyin $7,100 ($USD)
Tournament ID:
Start Date: 09 Jul 2011 21:00 (EST)
10 Jul 2011 03:00 (Europe/Luxembourg) Preview
finished - 8 years ago
Share details
$17.75 per share (0.25%)
price/value 100%
Shares Available? 93 (23.25%)
Shares sold 227 (56.75%)
Player share 20%
Player payment options PokerStars, FullTilt, 888/Pacific
Share Graph Event 102654
Event Results
Number of Players: 999
Finishing Position: 99
Cash Winnings: $3,813
Winnings per share: $9.52 Return on Investment: -46.37%
Results Entered: 27 Apr 2012 15:29
Description

Treat your Poker like a Business!!!

My biggest goal in Poker is to participate in medium and large live events and to get access to these events through live and online qualifiers to reduce overall costs. After winning packages for the WSOP 2010 and the EPT Snowfest 2011 I have accomplished that in the past already, but my will to play these events and finish successfully is bigger than ever! That’s that for the introduction…

 

Goal:
Goal of the project will be to qualify for the above mentioned tournaments (e.g. WPT Amnéville, BPS Finale Namur, EPT Snowfest,...), to play them with success and to mix smaller direct live buyins and live cashgames to even out possible no-cashes in the target events.
 
 
Volume of play:
The complete volume of the starting bankroll will be 5.000 € - half of it my own and half of it investor’s money. Just in case I will be able to attract larger investors, this balance could be changed to a maximum of 1.000 € own and 4.000 € investor’s money. The volume of play will of course be higher since the money of the bankroll can be used over and over.
 
 
Timeframe:
Start of the project will depend on how quick investors will accept the project and support my goals. The end oft he project could result in three different ways:
  • Losing the complete bankroll
  • Achieving a bankroll of 11.250 € or more
  • None of the above two happened until Dec 31, 2012

 

Details of the investment:

To be honest, the start of the project will depend on how quick investors will accept the project and support my goals. Also, me the one playing, profits from possible non-cash winnings (such as honor & fame linked to tourney wins and/or important final tables, included trips within won packages) all alone. Nevertheless my own investment is quite large and differs from investor’s investment in terms of the invested time to play, possible necessity of taking days of work to go to events (I’m just a part-time poker player and mainly have a “normal” 9-5 job) and the investment of up to 2.500 €. Therefore other people’s investments do not participate 1:1 with the success of the event, but the follwing way:
  • Winnings up to 6.250 € will be split 80:20 towards the investors
  • Winnings exceeding 6.250 € will be split 50:50 for investor’s money
6.250 € of winnings (which would sum up the bankroll to 11.250 €) means a double-up for every investor’s money. Why the gap between 80:20 to 50:50? The primary goal is to double every investor’s money. Every buck won above that is just… I would say an “addon”, but for sure more than just a nice-to-have!
 
 
Restrictions to what I will be playing:
Since the part with live cashgames and direct live buyins are just included to refinance the event and bring back money to the bankroll, I will restrict my buyin into live cashgames and direct buyins to a maximum of 10 % of the running bankroll. Also, I will be using no more than 10 % of the running bankroll for single buyin qualifiers or combined qualification projects such as "15x Step C (each 27 €) on Pokerstars" for a total of 405 €.
 

Documentation and updates:
The backbone of the event will be my new blog site specially created for the project:
 
 
There I will update about every tourney, every plan, every session and every whatsoever. I will be updating here every now and then, but I am referring to the above stated link for all updates and other intersting stuff regarding this event.

Too many shares to show pie chart.



Buyer Number of stakes Percentage Status Action
open93 (0.25% each)23.25%open
 9323.25%unsoldEvent Complete
barrracuda [profile]41.0%paid out 
Dazwhite [profile]20.5%paid out 
IDOLLS [profile]7017.5%paid out 
kongen77 [profile]51.25%paid out 
Mic71 [profile]20.5%paid out 
83/176 sold 
Player share - Shmendric [profile]20%Unavailable 

Comments

Harp221122 (8 years ago - 27 Jun 2011 15:36 UTC)

so if you qualify for a live event and double bankroll on first shot you will close, payout and set up new event?

Assuming this would happen every time you double roll?


Shmendric (8 years ago - 27 Jun 2011 15:56 UTC)

First and foremost I want to double the investor’s money. If the cash will be higher than that, even better for all of us! From that point on, I will indeed close the event pay out every investor and think about a new project, “to treat my poker like a business” once again!


barrracuda (8 years ago - 28 Jun 2011 09:38 UTC)

Ok i just made a start and bought the first 4 Shares. Maybe i will add some more shares up to 2% in the near future. Nice Blog btw.
Gl


Shmendric (8 years ago - 05 Jul 2011 19:41 UTC)

KGOUL툒s shares will be paid by October 15. If payment will be later than that, a 10 % upfee on his $532.50 investment will take effect. Talked about and agreed on privately.


Dazwhite (8 years ago - 06 Jul 2011 18:51 UTC)

Can a buy a few and pay by CMU transfer?


Shmendric (8 years ago - 10 Jul 2011 21:14 UTC)

Another share bought by my girlfriend ;)


kgoule (8 years ago - 23 Jul 2011 12:07 UTC)

your invisible for me onCMU what a pity when i reseach you “in research bloc” your name doesnt appear … a fcking joke


kgoule (8 years ago - 23 Jul 2011 12:12 UTC)

55$ sent (35$today 20$ the 18/07)
Will continue to purchase
gl


Shmendric (8 years ago - 23 Jul 2011 14:24 UTC)

Nope, you have sent $65 so far ;)


kongen77 (8 years ago - 03 Aug 2011 18:08 UTC)

Maybe harsh to give people tells when they still play this bankroll event. So admin you need to remove Shmedric tells.


Shmendric (8 years ago - 25 Aug 2011 06:39 UTC)

Event re-opened by Shmendric


Shmendric (8 years ago - 12 Sep 2011 21:47 UTC)

...push to keep open...


kgoule (8 years ago - 17 Sep 2011 04:39 UTC)

paid you 50$ tonight for the event
I mailed you few days ago but you didnt answered didnt know the amount i had sent to you so tell me and days after days i ll send you money until i paid the shares :)
Gl
Kevin


Shmendric (8 years ago - 17 Sep 2011 11:23 UTC)

Sorry mate, I indeed forgot to answer – so far you have paid $115 of $532.50 investment ;)


kgoule (8 years ago - 17 Sep 2011 13:28 UTC)

OK17.50 more sent

We are now 132.50/532.50

400$ left i ll try to ship each day a little amount or bigger if i ship
Gl


Shmendric (8 years ago - 01 Oct 2011 13:53 UTC)

...push to keep open...


Raymond1976 (8 years ago - 09 Oct 2011 21:10 UTC)

Stay open :P


kgoule (8 years ago - 14 Oct 2011 00:19 UTC)

sent you 100$ on stars at the moment

Are you playing this event ?


Shmendric (8 years ago - 14 Oct 2011 16:01 UTC)

Hm? Surely I am playing the event, check out http://treatyourpokerlikeabusiness.wordpress.com for updates. ;)


kgoule (8 years ago - 19 Oct 2011 04:54 UTC)

50$ more send so 150 to deduce


Shmendric (8 years ago - 19 Oct 2011 06:42 UTC)

Don’t wanna be a smartass, but it was $300 left, $50 sent today, so $250 left + the upfee we agreed on in the very beginning (check above posts)… am I right?


Shmendric (almost 8 years ago - 30 Oct 2011 09:48 UTC)

...push to keep open...


KundaNeta (almost 8 years ago - 01 Nov 2011 19:08 UTC)

Hiya, you mean shares still available Shmendric ??


Shmendric (almost 8 years ago - 01 Nov 2011 19:24 UTC)

No, but I have to comment here every once in a while or the event will be closed automatically… happened before ;)


KundaNeta (almost 8 years ago - 02 Nov 2011 18:14 UTC)

ohh lol whaat. Delusional.
Ok well thanks for reply anyhow&gl =]


Shmendric (almost 8 years ago - 20 Nov 2011 20:24 UTC)

...push to keep open...


Dazwhite (almost 8 years ago - 13 Dec 2011 16:45 UTC)

Forgot to push to keep open?


Raymond1976 (almost 8 years ago - 28 Dec 2011 22:58 UTC)

lalalal


Dazwhite (almost 8 years ago - 13 Jan 2012 21:43 UTC)

?????


Raymond1976 (almost 8 years ago - 15 Jan 2012 15:35 UTC)

get it back open ..


Raymond1976 (almost 8 years ago - 15 Jan 2012 15:36 UTC)

finished ???


Shmendric (7 years ago - 22 Jan 2012 09:02 UTC)

First of all: I am far away from scamming you guys, but I have to admit that I was also quite far away from a mood to keep you updated more. Therefore it was probably fair enough from you to ask repeatedly and from Admins to close the event due to inactivity.
I am asking for your understanding, that I will not write all details, why I have not been playing at all (!!!) since Barcelona, but it is several private reasons that are still up2date – none of them are really linked to Poker or the event itself, but very much to my “normal life”. Not that I planned to have stuff like that bugging me, but the event was scheduled until Dec 31, 2012 – I am not even close to the scheduled end. I do not have the time to update the blog as of now, but will do so as soon as possible.


Dazwhite (7 years ago - 24 Jan 2012 19:37 UTC)

Shmendric, I think most people here a very reasonable and would understand if you cant play or give frequent updates because of personal issues. But 2 months without an update of any kind is a little long. Especially with the way things have been on CMU recently with trusted members dissappearing with investors money (Kongen77, Closh) It is not surprising that people will automatically expect the worst.

Please do your best to at least give an update once a month to keep your investors comfortable that their money is in good hands. Even if you haven’t played, a simple message saying you won’t be playing this month would suffice.

Also, just as a side note, the website looks great but it is very hard to find out how much the current bankroll sits at. When your real life matters allow you some time, please improve on the way you communicate the status of the bankroll.

Good luck with the rest of the bankroll and also with the personal matters.


IDOLLS (7 years ago - 26 Jan 2012 14:44 UTC)

What is the current balance in the project? Please update the balance once a week even if it is the same.


Raymond1976 (7 years ago - 26 Feb 2012 14:48 UTC)

yep we need some update m8 ill keep ur smaller part of this open all the time. and what do we get back here….. Update plz….


IDOLLS (7 years ago - 12 Mar 2012 16:56 UTC)

This is ridiculous, not posting results and updates. Another scam I guess.


Harp221122 (7 years ago - 13 Mar 2012 03:27 UTC)

Event re-opened by Harp221122


Harp221122 (7 years ago - 13 Mar 2012 03:28 UTC)

I have reopened this and asked admin to contact shmendric to update bankroll, close and pay out


IDOLLS (7 years ago - 20 Mar 2012 13:13 UTC)

update?


hateraises (7 years ago - 27 Mar 2012 18:19 UTC)

??


Harp221122 (7 years ago - 11 Apr 2012 22:12 UTC)

Due to the inactivity and lack of communication, more than one investors has asked for this event to be updated to date and closed.

http://treatyourpokerlikeabusiness.wordpress.co...

It appears as though shmendric will be online sometime tonight to update, posting here to let him know he needs to close it and ship back to people.

Kongen Shares can be transferred to (send to Tony G and when they are in your account, admin will take them out from there)

Please post progress when this is done in the player dispute thread that was started here: http://www.chipmeup.com/forum/16/topic/68862/pl...


Shmendric (7 years ago - 14 Apr 2012 10:18 UTC)

Thanks Harp for already posting the link to the latest post of mine – no need to do copy&paste of my words from there to here, I guess. All that I want to and can write about regarding my absence and the inactivity is stated there and does not need to be repeated here.

As I said before, I understand everyone that called me a scammer and maybe even still think of me as a scammer – I most likely would have raised my voice as an investor in a similar situation as well. As Harp suggested I will use the other thread to discuss everything else with you.


SNB (7 years ago - 14 Apr 2012 23:45 UTC)

In summary, you’re not scamming, so which are you going to do? Refund unused funds according to the staker’s wishes, or keep playing and hope issues don’t come up that make you lose communication for months on end again?


Shmendric (7 years ago - 17 Apr 2012 22:43 UTC)

As of today the used bankroll is 2,341.50 EUR so far…

@ SNB: Issues will always come up sooner or later, but I will make sure, that it is not going to affect the communication within my project. Saying nothing will affect the number of tourneys I will play, would be a lie and can’t be guaranteed by anyone, I guess.


SNB (7 years ago - 18 Apr 2012 00:20 UTC)

So, ignoring them it is. Best of luck buyers, seems like you’ll need it. Maybe you should reconsider business as a career path and look towards politics.


hateraises (7 years ago - 18 Apr 2012 02:34 UTC)

“The events need to be closed and paid out. It has been requested from your backers. Let's get it done and everyone moves on”

we dont want you TO play we want paid out.. what dont u understand ?


hateraises (7 years ago - 18 Apr 2012 02:35 UTC)

also avoiding question of why u were playing cash games on 888 in other thread


Harp221122 (7 years ago - 18 Apr 2012 14:52 UTC)

Shmendric please provide a detailed breakdown of how you got to your bankroll number so it is clear what was spent and where.

From CMU standpoint, no play on this event should continue until the bankroll number is verified and backers who want refunds are refunded.

If play is continued, and losses occur, you would also be responsible for those loses back to the bankroll, which is standard in these situations


IDOLLS (7 years ago - 19 Apr 2012 10:51 UTC)

I would like the event closed and payed out as well.


Shmendric (7 years ago - 21 Apr 2012 08:59 UTC)

Dispute and offer to refund is placed in the thread Harp and I already mentioned above – news to the event have been published on the blog pages:

http://wp.me/p1Erfc-bk (1st place in a live tourney!)



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