Frequently Asked Questions Re Web Portal and Claims
(Updated - February 14, 2008)

These FAQs are presented as part of the information investors may need in order to understand and utilize the Investor Web Portal and for the processing of claims. For a printable version of this FAQ sheet, download here.

How do I get to the Investor Web Portal?

            From the Receiver's main webpage (www.tlennonfor12dailypro.com), click on the link that says "Investor Web Portal - LOGIN HERE" or the button under the Contact Info on the left. . Or just CLICK HERE and you will be directed to the login page.

If I haven't already logged in, how do I set up an account and log into the Investor Web Portal?

           Pursuant to the Court's Order Establishing Procedures for the Administration of Claims, the deadline to log into the Web Portal was January 31, 2008. Accordingly, it is no longer possible to create new accounts or change your election to Accept or Dispute your claim via the Web Portal.

How do I see the Receiver's MIMO calculation of my claim? (For explanation of MIMO, see answer to this question below)

            Once you have entered the Web Portal, you will see a page with two tabs - a "Current Info" tab and a "Transactions" tab. The "Current Info" tab lists the contact information you have already provided. The "Transactions" tab is where you will find your 12DP account information and the Receiver's calculation of your claim. By clicking on the "Transactions" tab, you will see a report of your 12DP transactions listed.

Please note: you may need to adjust the size of the report on your screen in order to see all of the information. The far right hand column should have the heading "Net Amount".

You can also access the report in Microsoft Excel or Adobe PDF format by selecting one of these formats from the drop down menu at the top of the report and clicking on the "export" link. The MIMO Amount is listed at the bottom of the report. Please review the report carefully, including the explanation of the MIMO Amount provided at the bottom of the report. Back to top

What does it mean if my Net MIMO Amount is a negative number (shown by parenthesis)?

            This means that your investments in 12DP exceeded the distributions from 12DP to you Internet account. You will have an allowed claim in this amount if you click the "Accept" box for your reports. Back to top

What does it mean if my Net MIMO Amount is a positive number?

            This means that the distributions from 12DP to your Internet account exceeded your investments in 12DP. You will not have a claim unless you disputed your report(s) and submitted a proof of claim and supporting documentation. The proof of claim form can be downloaded and printed from the Web Portal and the Receiver's main website. The proof of claim form has instructions on it regarding what information must be provided and what additional documentation must be submitted. If you wish to submit a late claim, download the investor proof of claim form and follow the instructions regarding filling it out and submitting it. It is also recommended that you provide an explanation of why your claim was not submitted prior to the deadline. The Court will determine whether late claims will be allowed. If you have any questions you may contact the Receiver by e-mail at tfl@tlennonfor12dailypro.com or by facsimile at (619) 465 9288. You may also record your message at (619) 464-6691. Back to top

If I have more than one report, how is my Net MIMO Amount calculated?

            Your claim amount is the net of the MIMO Amounts on your reports. This amount is shown at the bottom of your list of reports on the "Transactions" page as your "Net MIMO Amount."

For example, if you have two reports, the first one shows a positive MIMO amount of $1,000.00 (meaning that your distributions exceeded your investments by that amount) and the second report shows a negative MIMO amount of ($2,500.00) (meaning that your investments exceeded your distributions by that amount), your Net MIMO Amount would be ($1,500.00), meaning that you would have a claim in that amount if you check the "Accept" box for both of your reports.

If, on the other hand, you have one report with a positive MIMO Amount of $5,000.00 and a second report with negative MIMO amount of ($3,000.00), you would have a Net MIMO Amount of $2,000.00 (meaning that, in the aggregate, the distributions to your Internet account(s) exceeded your investments in 12DP by that amount). Thererfore, you would have no claim unless you check the "Dispute" box for one or both of the reports and submit the required proof of claim form and supporting documentation. Back to top

What is the deadline to either accept or dispute my claim amount?

           On December 10, 2007, the Court entered an order approving the Receiver's proposed procedures for the administration of claims and setting a deadline (or "bar date") of January 31, 2008. Investors were given notice of the bar date for accepting or disputing their MIMO claim amounts in three separate Bar Date Notices. This Notice was also posted on the Receiver's website. Accordingly, it is no longer possible to accept or dispute claim amounts via the web portal. Back to top

If I elect to submit a proof of claim, what happens next?

            Once the Receiver has reviewed all proofs of claim, he will file objections to claims that fail to show (with supporting documentation) that the claim amount listed on the Web Portal is not the correct MIMO claim amount for that investor. If the Receiver objects to your claim, you will receive notice of the objection and instructions regarding how to file a response. The Court will then determine the appropriate amount of the claims to which the Receiver has objected. Back to top

When will I get my money?

           Once all disputes regarding MIMO claim amounts have been resolved and a Distribution Plan has been approved by the Court, a Pro Rata distribution (for an explanation of "Pro Rata", please see below) will be made to investors. Back to top

Will I get all of the money I paid in? How much will I get?

            The amount of funds which will ultimately be distributed to investors is not known at this time. The Receiver has recovered 12DP funds as directed by the Court and continues to pursue other sources of funds. Recovered funds are held in money market accounts with interest accruing during the case. Back to top

What Does MIMO mean?

            MIMO (or Money-in, Money-out) means actual funds invested in 12DP by you and distributions from 12DP that were frozen in your account at StormPay and reversed back into the 12DP account at StormPay on or about February 7, 2006 ("Money-in"), less all payments of principal, interest, commissions or other amounts paid to you (including credit card chargebacks or reversals of electronic fund transfers) on account of your investment in 12DP ("Money-out"). Back to top

What does Pro Rata mean?

            A Pro Rata distribution means that all investors with allowed claims will receive a distribution that is the same percentage of their allowed claim amount. The percentage is determined by the amount of funds available to be distributed to investors (after payment of all administrative costs) divided by the total dollar amount of all allowed claims. Back to top

How will the claims be paid?

            The Receiver is currently investigating various means of transmitting distributions to investors, including electronically, so that investors can access their distributions via e-mail. The Receiver intends to seek approval of a means of transmitting distributions as part of his Distribution Plan. Back to top

How do I recover amounts that were in my StormPay account when it was frozen?

            The Receiver understands that on or about February 7, 2006, StormPay, without the authorization or consent of 12DP, Charis Johnson, or any 12DP investors, reversed investor accounts at StormPay with positive balances back into the 12DP account at StormPay. Although these reversals were unauthorized, investors have been given credit for the amounts reversed by StormPay in the calculation of their respective claim amounts. Accordingly, the amounts reversed have been treated as "money-in" for the purposes of the Receiver's "money-in, money-out" (or "MIMO") calculation. Thus, investors' claim amounts have been increased by the amounts reversed back into the 12DP account by StormPay. Therefore, it is not necessary to do anything different in terms of your MIMO claim amount (other than logging into the Web Portal and following the normal claims procedures) if you had a positive balance in your account at StormPay when it was frozen.

The receivership established by the Court covers only 12DP, its subsidiaries and affiliates. StormPay is not affiliated with 12DP. Neither the Receiver nor his counsel can advise investors regarding their legal rights, if any, with respect to StormPay or other third parties. Investors should consult their own attorney with respect to these matters. Back to top