[26-Mar-2020] Philip's 341 Creditor Meeting - When what should be 5 minutes becomes an eternity.

[King Daddy Telomerase]

This is something I never understood about this part of Phil's logic, besides him obviously trying to write off/obfuscate as much as possible, but trying to say, "nah DOOD I have to buy all those new games because that's how I get my KAHNTENT."

Like, how legitimate would that argument actually be? He could technically just rent a game for a week or two, seeing as how often he just drops shit halfway or powers through it, instead of outright buying game after game after game everytime a new one comes out.

Whoops. I started thinking fiscally responsible there for a second, and where we are now we know that's not Phil's forte. I assume he does it for his "collector" (see: hoarding) mentality, but it's seems so arguable that he could maybe, technically get away with it.

There's lots of people that file bankruptcy because they insist on running a business that's not profitable, including one I recall from yesterday. They have to learn the hard way.

Then there's Phil who for whatever reason, refuses to understand or accept the value of money, and that he deserves everything he wants without paying for it. And that he can pretend his business isn't profitable because he doesn't want to pay for anything. Pathetic manchild.

 

[grump]

Sure you're not fame seeking?

I think the Citibank d00d did a reasonable job but he could have come a bit more prepared with all his is and ts dotted and crossed when he was inevitably called out. Maybe state and show truthfully he was a legitimate creditor in a convincing way. That shit can go south very quickly so thats why as a general rule you should not try this at home.

 

[BScCollateral]

She is absolutely at fault.....she's an attorney. Nancy wanted to know exactly what his business expenses were meaning breakdown of exact expenditures. No way an attorney doesn't know what that means but she also tries to help him hand wave it away.

It's almost as though she's working for Phil instead of us.

 

[mindlessobserver]

It's almost as though she's working for Phil instead of us.

Too add on she is representing a moron who is probably lying to her as Phil lies to everyone. It's not her job to investigate her own client. Its Phil's job to give her the info to work with.

 

[Iron Hamster]

She's not his accountant. Her job is not to assess Phils financials. She has to advise him on the legalities and consequences of filing bankruptcy and explain the forms to him. If he gives her false information it's not her fault.

I would agree if she wasn't trying to cover for him with the "that's why we bunched them all together" for the alleged biz expenses. That question was directed at him and him alone. The trustee wanted to see what his answer was.

Phil is that you?

lol.

The problem I have with the giftcard theory is that Khet goes with him (pre-Wuflu) every week to the store. I would suspect that Kathy would not approve of him buying hundreds of dollars of iTunes giftcards a week.

Pigroach's Razor - Never attribute to effort that which is adequately explained by total laziness.

He uses his PayPal debit card to buy his sweaty oily virtual men and Nancy will see this when she gets those statements.

You can get gift cards online and print them out.

 

[Pepper Jack]

You can get gift cards online and print them out.

Yes you can. The question is would DSP do that? Uuuhhhh nooooo! He has had new Tshirt designs for over a year but is too lazy to upload them to Teespring. Never underestimate this manchild's extreme laziness.

 

[BScCollateral]

I don't think Phil can consider even the cost of games as "business expenses" as far as the bankruptcy is concerned.

That's interesting, because personally I would consider buying new games a business expense, since his audience wants to see him play new games. I don't think the judge would tell a newspaper to fire all the copy writers and reporters and just keep running the same stories over and over.

 

[King Daddy Telomerase]

You can get gift cards online and print them out.

Phil doesn't need to print them out. What does he buy lately IRL? Everything he wastes his money on is bought from his gout mansion.

 

[Iron Hamster]

Yeah, he has a second Paypal account specifically to keep his tips separate from Twitch and Youtube payments (I'd transcribed this explanation elsewhere):

July 28, 2017: "I just recently adopted accepting tips on, uh, while streaming on Twitch. I have the [?] setup that people can go to my Twitch page, click on a link, you can put it in, you can be anonymous, or you could put in your name and have a shout-out for it, and you can send me a tip. And that goes directly to a Paypal account. The Paypal account associated there is a separate Paypal account, for visibility on that, because I want that income to be completely separate from all of my other income."

(Youtube source)

hmmmmm. Makes one wonder what that means. (no it doesn't

)

 

[actually]

That's interesting, because personally I would consider buying new games a business expense, since his audience wants to see him play new games. I don't think the judge would tell a newspaper to fire all the copy writers and reporters and just keep running the same stories over and over.

Consider how many people on Twitch stream only games like Hearthstone or Path of Exile. There's a ton of free or free-to-play games that could be played over and over. I don't think it's unreasonable to claim new games as a business expense (I see it as something like purchasing a uniform--ideally it lasts a while, but it will be replaced eventually), but I don't think it's an absolute necessity that a streamer/youtuber/khantent creator has to purchase new games.

hmmmmm. Makes one wonder what that means. (no it doesn't View attachment 1205278 )

Honestly, having a separate account for the tips is smart. It means he just has to download the transaction file for each tax year, and he's done. If it all dumped into one account, he would have to go through and remove all the other deposits and withdrawals. If, however, he's dumb enough to be paying for anything other than directly business related stuff (PSN, XBox Live, games) out of it, he's in for a rough time.

 

[AnOminous]

Also his lawyer getting shut down was crazy. Nobody else had their lawyer speak up during their meeting besides to verify them. Rochelle sure wasn't supposed to be answering questions for Phil.

She did more than she is being paid to do, which would have been to sit there and watch him be eviscerated while doing nothing. She did the best she could with the client she has, and more than he was entitled to. He should be paying her more than he is if she's going to be running interference for his bullshit, too.

except he was. and he didn't say he was representing citi bank, he said he was representing their debts

Yeah right.

He certainly let everyone proceed with the belief that he was somehow representing Citi.

J: Ok. Are there any creditors on the line.
J: Ok. Your name please?
J: Spell your last name.
J: And you're with CitiBank?
J: You have questions you want to ask Mr. Burnell?
P: Hmm
R: When did you realize you needed to file?
P: Oh. Uh, we filed-

R: Um, Nancy, there, I-I'm not sure if this person is for CitiBank.
E: I'm sorry, excuse me?
R: I'm not sure, are you? I-I'm- Are you really-
E: I'm calling uh, I'm calling representing CitiBank, yes Citipoi- What are you talking about?
R: Right, are you an attorney, or like, what's your position at CitiBank, or? Uh, this doesn't seem um-
E: This seems like a, sort of an attempt to back out of answering the very transparent question reviewing these files, which is that he has $5000 a month in business expenses, which does not make any sense.
R: Why would collections from CitiBank appear on a case, so this seems a little strange. We'll answer the questions. But it's just-
E: Ok, great.
R: I mean, we've been answering the questions.

He pretty unambiguously straight up claimed he was "representing" Citi at a court hearing. I hope he's actually licensed to practice in the district.


Note: the audio was really bad at both of these points so it's possible the official audio the court has will clear this up but I'm not seeing how it could. Also it wouldn't have what he said before being allowed on the conference call in the first place, which could also put it in a better context, I suppose.

 

[eggsandwich]

Here we go, tomorrow(3/28 ) night!
(Sorry for duplicated images, I tried "delete" those...)

Rekieta Media on Twitter

“Tonight: weebstream and chill with several guests. Talking quarantine activities, very laid back. Tomorrow night: DSP bankruptcy livestream. Going through the 341 call.”

twitter.com

 

[Banned in 49 States]

Consider how many people on Twitch stream only games like Hearthstone or Path of Exile. There's a ton of free or free-to-play games that could be played over and over. I don't think it's unreasonable to claim new games as a business expense (I see it as something like purchasing a uniform--ideally it lasts a while, but it will be replaced eventually), but I don't think it's an absolute necessity that a streamer/youtuber/khantent creator has to purchase new games.

This is the biggest issue that could take DSP down. His argument to need to spend thousands of trump bucks every month for new games, DLC, microtransanction etc etc in order to make any money at all will fall flat when he constantly play games that are not new releases.
A list of games older than a 1 year that he has played the last year or so;
KOTOR.
Morrowind.
SF.
DOOM 2.
MGS1.
Super Mario World.
FF6.
FF9.
Minecraft.
GTA4.
Sly Cooper.
Super Mario 64.
Super Mario RPG.

You could also add games like BLOPS4 that he played for almost a year, then a bunch of old re-reales collections that usually go for $25 like the megaman stuff.

Even if he had to buy some of them they are still way cheaper than $60 dollar products, and I think thats something the court will grill him about.
"Why are you spending 3 times the amount on your business then you need too, even when the numbers show you don't have too"

 

[Iron Hamster]

Yes you can. The question is would DSP do that? Uuuhhhh nooooo! He has had new Tshirt designs for over a year but is too lazy to upload them to Teespring. Never underestimate this manchild's extreme laziness.

I certainly think his greed and need to hide cash moneys is more than enough motivation to not be lazy on that front.

Consider how many people on Twitch stream only games like Hearthstone or Path of Exile. There's a ton of free or free-to-play games that could be played over and over. I don't think it's unreasonable to claim new games as a business expense (I see it as something like purchasing a uniform--ideally it lasts a while, but it will be replaced eventually), but I don't think it's an absolute necessity that a streamer/youtuber/khantent creator has to purchase new games.



Honestly, having a separate account for the tips is smart. It means he just has to download the transaction file for each tax year, and he's done. If it all dumped into one account, he would have to go through and remove all the other deposits and withdrawals. If, however, he's dumb enough to be paying for anything other than directly business related stuff (PSN, XBox Live, games) out of it, he's in for a rough time.

I would think they are subject to the 2% rule.

 

[actually]

I certainly think his greed and need to hide cash moneys is more than enough motivation to not be lazy on that front.

I would think they are subject to the 2% rule.

2% rule?

 

[Iron Hamster]

2% rule?

I misread. The 2% rule applies to an employee, not biz owner. I am looking at the games as a 'tool' to be able to do work.

Tax Deductions for Work-Related Expenses for Tools

Tax Deductions for Work-Related Expenses for Tools. You must itemize deductions to deduct work-related expenses such as buying or repairing tools required for your job. List your miscellaneous deductions on Schedule A. The deduction for tools is applicable if you are self-employed or if you work...

smallbusiness.chron.com

 

[kwfthr]

She did more than she is being paid to do, which would have been to sit there and watch him be eviscerated while doing nothing. She did the best she could with the client she has, and more than he was entitled to. He should be paying her more than he is if she's going to be running interference for his bullshit, too.



Yeah right.

He certainly let everyone proceed with the belief that he was somehow representing Citi.

Note: the audio was really bad at both of these points so it's possible the official audio the court has will clear this up but I'm not seeing how it could. Also it wouldn't have what he said before being allowed on the conference call in the first place, which could also put it in a better context, I suppose.

This might be an autistic as fuck post, i don't care. I just need to interject with agreement here. All the moron Wings-strain of retard trolls are clapping their autistic hands as if 'ELLIS' did the lord's work here. He didn't. Read the transcript. He showed up unprepared as fuck, and he got bodied by Rochelle without accurately verbalizing what he was trying to say. These proceedings have a very well-defined order, with specific documents being analysed. The people who do this all day every day, like Rochelle, big ups, KNOW when shit isn't right. Citibank, Citipoint, whoever he was pretending to represent, would NEVER have sent someone to ask these questions. Because it's not relevant to that specific meeting! Nobody gives a shit about the initial filing there. And when there was confusion and the following 'explanation' by Nancy, he clammed up and went full-on passive-aggressive 'thank you' snippy, and that was that.

Oh, and go fuck yourselves to the morons who had to play audio clips n shit. Rochelle will get this shit hidden from the public, and then our gold dust will run out. So congratulations.

 

[Richard Harrow]

This might be an autistic as fuck post, i don't care. I just need to interject with agreement here. All the moron Wings-strain of exceptional individual trolls are clapping their autistic hands as if 'ELLIS' did the lord's work here. He didn't. Read the transcript. He showed up unprepared as fuck, and he got bodied by Rochelle without accurately verbalizing what he was trying to say. These proceedings have a very well-defined order, with specific documents being analysed. The people who do this all day every day, like Rochelle, big ups, KNOW when shit isn't right. Citibank, Citipoint, whoever he was pretending to represent, would NEVER have sent someone to ask these questions. Because it's not relevant to that specific meeting! Nobody gives a shit about the initial filing there. And when there was confusion and the following 'explanation' by Nancy, he clammed up and went full-on passive-aggressive 'thank you' snippy, and that was that.

Oh, and go fuck yourselves to the morons who had to play audio clips n shit. Rochelle will get this shit hidden from the public, and then our gold dust will run out. So congratulations.

Forum guidelines:
"Be civil. Don't get angry over DSP. If you need to tell people you're better than someone, you're probably not. "
Maybe you should take a second and scream in a pillow then try again.

 

[King Daddy Telomerase]

Creditors are allowed to ask any questions that are relevant to the case. Everything he asked was relevant, although he should have been correct and up-to-date with his numbers. I don't know or care if he's a real debt collector, so whatever.

 

[BScCollateral]

Consider how many people on Twitch stream only games like Hearthstone or Path of Exile.

Absolutely. The Mighty Jingles is known for World of Tanks and World of Warships, Scott Manley does a lot of Kerbal Space Program, and Jive Turkey is known for Cold Waters and other sim-style games.

But my impression is that DSP is best known for fighting games, for day-one playthroughs, and burping.

I'd say new games and soda would be essential to him, but I agree it's a grey area.