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

[Sir Wesley Tailpipe]

If not for the fact that we know he partakes in Brazzers, I'd believe it because he's that much of a no-lifer. What does he do when he's off the clock? Mostly gin and wrasslin', right? Not surfing the information superhighway.

He really shouldnt be doing that on his work computer! He’ll get fired!

 

[mindlessobserver]

Oh this was definitely out of the ordinary for a 341. Trustees are used to getting tips about cases from scorned exes and angry business partners. Nancy definitely heeded some of the weaponized autism surrounding Phil. She’s read some emails and came into the meeting knowing that he plays vidya for a living and that owns quite a bit of electronics. That’s why I wish the trolls would tone it down. A well written email with valuable information about potential fraud is one thing. A whole inbox full of links to Phil masturbating on stream is a whole other ballgame.

It's why she "had some questions" for Mister Burnell. It's amazing to me that a man who puts all his shit out in public would try and claim he doesnt have shit. What did he think was going to happen?

 

[FapCupFanta]

This blows me away too. I've been fairly lucky in life to have the parents I have, and they taught me very early on about a number of stuff by having me "help out" with things like filing taxes, but I would have thought DSP's father from what (little) I've read about him would be someone who would be sure to report a penny someone left behind as a tip just to be safe what with being a life long working man who worked his way up to an executive. How the fuck could nothing have passed off to DSP, let alone been taught to him?

DSP even had a fucking tax crisis years ago, how the hell has he yet to separate his business and personal assets? He knows "detractors" report him, why take any fucking chances even if it might cost you slightly more per year?

There's a reason why businesses small and large pretty routinely hire a person or whole department to specifically keep on top of taxes and other financial matters. When you start managing an actual business, you have to be on top of all of your shit. Paperwork getting filed incorrectly on accident can lead to a total shitfest; things become infinitely worse when incorrect financial filings are suspected to be intentional deception.

 

[myone]

No. I'm not sure how this idea that he's hiding tips has taken hold. On his monthly income and expenses filing, his listed monthly income had to have included the tips he receives unless he has some other mystery source of income that's producing thousands of dollars a month and happens to match up nearly perfectly with the amount of tips he receives in a month.

I think this stems from people being confused why Phil is in this situation to begin with. They think he must be hiding income. They don't realize that it comes down to just two things:

1. Frivolous spending (buying a house he can't afford and outside of his means, WWE, gin, eating out, "rainy day funds")

and

2. Being an exceptional financial mastermind and always paying the minimum for each line of credit instead of paying them off one by one, sometimes creating new debt in the process.

By selling the WAkhando and with just a year of discipline and austerity he could probably make a big dent in his debt and be totally fine [which is why his bankruptcy is bs by the way].

 

[Xenomorph]

I love how the wwe network is not a buisiness expence but the tv is..you played yourself. Also you are sole proprietor

 

[the khat quaffer]

One of the things that really fascinates me is the fact that Phil didn't snort once during the 40-something-minute call with Nancy. Some throat clears I guess. Someone said it earlier in this thread, but if Phil doesn't want to snort, he won't. It's quite obvious he can control it. I have only a mortal understanding of his gouty post nasal drip so I don't know if throat clears can mitigate the need to snort.

The fact that he snorts constantly on his streams at his audience is pretty damning evidence of how much he hates them and how little he cares about his 'business'. He knows it's disgusting, he knows people hate it, but he's like 'ehh, fuck it, watch me let 'er rip' on every stream. Like I know life dealt his audience of wheelchairs a bad hand, but do they really deserve to be snorted at by a pig that can clearly control it?

I'm not saying he has to show up in business casual attire to his streams, but ffs, put a modicum of professionalism into the product you're delivering, Phil.

Spoiler: degeneracy

savescummin bottle crunchin phlegm snortin throat clearin wireless keyboard usin baldspot hidin adult larpin bottom-shelf-gin chuggin gout sufferin tax evadin vest wearin hulk hogan worshippin amazon wishlist makin smelly pukin' PIG

 

[actually]

I think this stems from people being confused why Phil is in this situation to begin with. They think he must be hiding income. They don't realize that it comes down to just two things:

1. Frivolous spending (buying a house he can't afford and outside of his means, WWE, gin, eating out, "rainy day funds")

and

2. Being an exceptional financial mastermind and always paying the minimum for each line of credit instead of paying them off one by one, sometimes creating new debt in the process.

By selling the WAkhando and with just a year of discipline and austerity he could probably make a big dent in his debt and be totally fine [which is why his bankruptcy is bs by the way].

I think it's also that he listed his Twitch income during the call as $3-4k, which is only his cheers and sub money. It's technically true since the tips don't come from Twitch itself, but it's a little misleading since the tips are facilitated by his streaming on Twitch.

 

[architect]

One of the things that really fascinates me is the fact that Phil didn't snort once during the 40-something-minute call with Nancy. Some throat clears I guess. Someone said it earlier in this thread, but if Phil doesn't want to snort, he won't. It's quite obvious he can control it. I have only a mortal understanding of his gouty post nasal drip so I don't know if throat clears can mitigate the need to snort.

The fact that he snorts constantly on his streams at his audience is pretty damning evidence of how much he hates them and how little he cares about his 'business'. He knows it's disgusting, he knows people hate it, but he's like 'ehh, fuck it, watch me let 'er rip' on every stream. Like I know life dealt his audience of wheelchairs a bad hand, but do they really deserve to be snorted at by a pig that can clearly control it?

I'm not saying he has to show up in business casual attire to his streams, but ffs, put a modicum of professionalism into the product you're delivering, Phil.

Spoiler: degeneracy

savescummin bottle crunchin phlegm snortin throat clearin wireless keyboard usin baldspot hidin adult larpin bottom-shelf-gin chuggin gout sufferin tax evadin vest wearin hulk hogan worshippin amazon wishlist makin smelly pukin' PIG

View attachment 1206289

I know someone IRL who does the exact same thing. He snorts and clears his throat obnoxiously when he's around people he perceives to be inferior but the moment a superior walks in the room that shit suddenly stops. It's a weird ass powerplay.

 

[PetrifiedTom]

Being honest here - his business model wasn't that complicated. All he had to do was to transfer profit to personal account for not-related-business things such as WWE. I guess he could be more restrained from buying useless shit. It's not like he was hiring anybody else except himself, right? He wasn't issuing some invoices to different contracting parties.

He probably never spent a minute googling things about running a company or asked someone with experience what to be cautious and aware of. It is quite amusing that having all balance sheets from bank account, PayPal, Patreon and other shit he couldn't manage his finances. Like adding and subtracting is too much effort in Excel to be done quarterly.

He must be retarded or at least "exceptional". Nobody pressed on him to do his taxes and learn how to properly sum it up... but that brings a question what his accountant had to do except collecting bank statements...

 

[Collections Agent]

Lol when they were talking about business expenses he mentioned microtransactions 3 times.

What games has he streamed recently he had purchased microtransactions in?

 

[Sparkletor 2.0]

He really claimed that his only use of a PC is for business? He's the only person in the Western world with no home computer? What a complete fucking idiot. He's begging for it... which is not unprecedented.

If his computer is 100% for business purposes only, why did he have Space Needle vacation pics on his desktop?

 

[dsflfdsl23012]

There's a reason why businesses small and large pretty routinely hire a person or whole department to specifically keep on top of taxes and other financial matters. When you start managing an actual business, you have to be on top of all of your shit. Paperwork getting filed incorrectly on accident can lead to a total shitfest; things become infinitely worse when incorrect financial filings are suspected to be intentional deception.

Except he did nothing wrong, he did everything correct, and if anything IS wrong..then that's on the bankruptcy lady or tax guy. Has nothing to do with Phil, at all. He's a mature intelligent adult human being who's self employed running a successful Video-on-demand/Livestreaming production company for over 11 years.

 

[King Daddy Telomerase]

Let's not forget the extra "lemon" PCs he bought that are sitting in his closet. The CyberpowerPC one still has around $1k worth of value and is very usable for gaming today.

 

[grump]

Does anybody have the longer audio including the calls before Phil? (I assume he was last?) I've seen it referenced several times but not posted.

 

[lavrentiyberia]

Some of us were listening live in the conference call, I'm sorry I didn't record it, but I'm assuming they'll all become available when Phil's does

 

[DiabeticSP]

The whole tax on tips thing is muddying the water anyways.

Nancy doesn't give a single fuck about taxes. Phil made income on tips. All she cares about is that he's getting paid. Its irrelevant HOW he makes money, because she isnt tasked with making sure he pays his taxes correctly. Her job is strictly to look at his income and expenses and a few other things and decide if Phil gets a chapter 7 or 13 or nothing.

Dicking around answering the wrong question is still a wrong answer, she wasn't pleased.

 

[OrsonZedd]

A private person can just buy another private person's debt? Jesus, no one tell Chris Chan's weêns.

 

[The Littlest Shitlord]

Does anybody have the longer audio including the calls before Phil? (I assume he was last?) I've seen it referenced several times but not posted.

I think people are refraining from posting it because it has the personal info of non-Phil-related people (like Yacht Guy) in it.

 

[harbinger]

I've asked @nohandsboi to provide some verification. I'll let everyone when/if I get it.

I’ve given this some thought over the past couple of days. I’ve come to realize there are two possibilities:

1. The streamer had no skin in the game, streamed the hearing, and interjected himself in the call, making it a gay ops; therefore, the streamer is a faggot. Or...
2. The streamer actually did buy a portion of Phil’s debt with the intention of streaming the hearing and interjecting himself into the call, making it a gay ops; therefore, the streamer is a faggot.

If his computer is 100% for business purposes only, why did he have Space Needle vacation pics on his desktop?

Considering Phillip probably only got married for the tax benefit, therefore helping the business, that would make those Space Needle vacation pics business related.

 

[Dizzyuntildeath]

What Phil failed to mention all these years is that he is a grandmaster level chess player and can see forty moves ahead. This has all been calculated. He's got us right where he wants us. The sword of damacles mere inches from our necks. And just when we thought we won, wham. Debunked. Trolled.
Checkmate.
King me.