[Discussion] SAYGUS V2

[vertigo_2_20]

As I said, perhaps if they drop the radio, since that seems to be what's really hanging them up, and forget about making it a phone, they could get a device out, certainly without such massive delays. Get themselves built up a bit as a company before trying to tackle the larger task of making an actual phone, since it seems they bit off more than they could chew by attempting to make one.

 

[aspid667]

As I said, perhaps if they drop the radio, since that seems to be what's really hanging them up, and forget about making it a phone, they could get a device out, certainly without such massive delays. Get themselves built up a bit as a company before trying to tackle the larger task of making an actual phone, since it seems they bit off more than they could chew by attempting to make one.

If they will drop the idea of making a phone and make a tablet instead I seriously doubt that 500 tablets that they will sell could help them to survive.

 

[dkryder]

i was looking at the indigogo site and it seems they will have just below 10% of a bite out of the campaign total, ~$1,158,000. x 0.10 = ~ $115,800 for indiegogos cut and fees, so it looks like they end with ~$1,042,000. i think they started with around $845,000. so $1,042,000 - $845,000= they gained ~$197,000 from the campaign. it looks like there were 435 phones claimed as perks about $453 per phone. . in rough terms the start of $845,000 / $550 each phone preordered = roughly 1,536 preorder phones. combine those with the campaigns 435 phones gives 1,971 phones either ordered or a perk. if you take the $1,042,000 total collected and say about 1,971 phones need to be delivered. what the gross income from each phone was roughly $529. subtract all operated costs , which i have no idea what that figure may be ,as i see it leaves a fairly gloomy picture. hopefully my math was roughly correct. anyway, there was a post earlier related to how saygus can make a successful go at this in business terms and i see it as a huge success if they manage to do it. but, my guess is someones retirement fund dropped significantly in the process. for that i will be greatly appreciative for the sacrifice to get this phone in buyers hands,

 

[halkhali83]

i was looking at the indigogo site and it seems they will have just below 10% of a bite out of the campaign total, ~$1,158,000. x 0.10 = ~ $115,800 for indiegogos cut and fees, so it looks like they end with ~$1,042,000. i think they started with around $845,000. so $1,042,000 - $845,000= they gained ~$197,000 from the campaign. it looks like there were 435 phones claimed as perks about $453 per phone. . in rough terms the start of $845,000 / $550 each phone preordered = roughly 1,536 preorder phones. combine those with the campaigns 435 phones gives 1,971 phones either ordered or a perk. if you take the $1,042,000 total collected and say about 1,971 phones need to be delivered. what the gross income from each phone was roughly $529. subtract all operated costs , which i have no idea what that figure may be ,as i see it leaves a fairly gloomy picture. hopefully my math was roughly correct. anyway, there was a post earlier related to how saygus can make a successful go at this in business terms and i see it as a huge success if they manage to do it. but, my guess is someones retirement fund dropped significantly in the process. for that i will be greatly appreciative for the sacrifice to get this phone in buyers hands,

How did you get that Indiegogo would charge for 10%?
Is Indiegogo gonna charge Saygus for the $850k they already put before starting the campaign?

 

[dkryder]

How did you get that Indiegogo would charge for 10%?
Is Indiegogo gonna charge Saygus for the $850k they already put before starting the campaign?

i said indiegogo cut [which is 4%] and fees [which are paypal 3%-5% wire fees[at $25 per]{non-US }] so I was taking the liberty as to my estimate , could be lower. indiegogo just states total amount, again it could vary due to indiegogo cutting them a break. so, yeah, the picture could be better for saygus. i guess i should have called it a speculative post rather than saying i hope my math was good.

 

[possibilis]

i was looking at the indigogo site and it seems they will have just below 10% of a bite out of the campaign total, ~$1,158,000. x 0.10 = ~ $115,800 for indiegogos cut and fees, so it looks like they end with ~$1,042,000. i think they started with around $845,000. so $1,042,000 - $845,000= they gained ~$197,000 from the campaign. it looks like there were 435 phones claimed as perks about $453 per phone. . in rough terms the start of $845,000 / $550 each phone preordered = roughly 1,536 preorder phones. combine those with the campaigns 435 phones gives 1,971 phones either ordered or a perk. if you take the $1,042,000 total collected and say about 1,971 phones need to be delivered. what the gross income from each phone was roughly $529. subtract all operated costs , which i have no idea what that figure may be ,as i see it leaves a fairly gloomy picture. hopefully my math was roughly correct. anyway, there was a post earlier related to how saygus can make a successful go at this in business terms and i see it as a huge success if they manage to do it. but, my guess is someones retirement fund dropped significantly in the process. for that i will be greatly appreciative for the sacrifice to get this phone in buyers hands,

Somewhere among various social media comments, someone mentioned an answer from Saygus about financial futility of their indiegogo undertake. The answer was that campaign was more about the hype than profit. They were not hoping for mayor $ from it anyways.

 

[aspid667]

Somewhere among various social media comments, someone mentioned an answer from Saygus about financial futility of their indiegogo undertake. The answer was that campaign was more about the hype than profit. They were not hoping for mayor $ from it anyways.

Usually the hype should be translated into the profit (money, more sold phones etc.). In this case it is very difficult to call this hype (~450 sold phones) a big one. And we need to take in account that we actually don't know how many people requested refund during this "hype" campaign.

 

[alexanseris]

Usually the hype should be translated into the profit (money, more sold phones etc.). In this case it is very difficult to call this hype (~450 sold phones) a big one. And we need to take in account that we actually don't know how many people requested refund during this "hype" campaign.

So Saygus must write-off V2 production, like how Microsoft did with Nokia's Devices and Services. LOL:laugh:

I'm wondering how Saygus was able to pay its employees their salaries without generating any revenue along these years??!!.

 

[vertigo_2_20]

So Saygus must write-off V2 production, like how Microsoft did with Nokia's Devices and Services. LOL:laugh:

I'm wondering how Saygus was able to pay its employees their salaries without generating any revenue along these years??!!.

They had revenue. All the preorder money and money from Indigogo is revenue. But that's gross revenue income. After deducting their costs, what's left is net revenue income, which may be minimal or even negative. But they very well could have used the gross revenue income to pay their employees (a cost, which reduced their net). If they're not able to make their net positive by selling enough phones at high enough profit, they may have to declare bankruptcy, at which point whatever money is left, which again, may be none, will go to pay people back. But even then banks, business partners, etc, will likely get first dibs, and customers probably won't get anything. One of the reasons I canceled a while back, because I didn't want to be left holding the bag. Especially since with all the delays a lot of people are going to be outside of the protection period with their credit card companies, making it a lot harder to get their money back that way.

 

[nonlose]

How many of you guys requested a refund? I'm thinking about it now.. What phones are yall getting instead.

 

[PXL42]

How many of you guys requested a refund? I'm thinking about it now.. What phones are yall getting instead.

Not me. I'm waiting

 

[TonyStark]

How many of you guys requested a refund? I'm thinking about it now.. What phones are yall getting instead.

There is a thread already dedicated to this topic Alternatives to the V² by Cullenator. Much has already been discussed there:good:

 

[prasathvishnu]

How many of you guys requested a refund? I'm thinking about it now.. What phones are yall getting instead.

After a wait for 2 months, I finally requested for a refund.

 

[alexanseris]

They had revenue. All the preorder money and money from Indigogo is revenue. But that's gross revenue. After deducting their costs, what's left is net revenue, which may be minimal or even negative. But they very well could have used the gross revenue to pay their employees (a cost, which reduced their net). If they're not able to make their net positive by selling enough phones at high enough profit, they may have to declare bankruptcy, at which point whatever money is left, which again, may be none, will go to pay people back. But even then banks, business partners, etc, will likely get first dibs, and customers probably won't get anything. One of the reasons I canceled a while back, because I didn't want to be left holding the bag. Especially since with all the delays a lot of people are going to be outside of the protection period with their credit card companies, making it a lot harder to get their money back that way.

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. It is the "top line" or "gross income" figure from which costs are subtracted to determine net income. So, the revenue is the total money that Saygus has been collected along this period, while the net profit is what you referred as a "net revenue''. However, my question was related to how Saygus was able to run itself without any revenue since 2009?, if someone says, they got investments money, I would ask which investment agency or personnel funded them without getting something in return? , again since 2009?

Indigogo is about to end, and the entire picture seems so gloomy so far. I'm probably going to cancel my order before the end of this month. I guess I don't have enough time and mood to follow a legal action against Saygus afterward.

 

[vertigo_2_20]

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. It is the "top line" or "gross income" figure from which costs are subtracted to determine net income. So, the revenue is the total money that Saygus has been collected along this period, while the net profit is what you referred as a "net revenue''. However, my question was related to how Saygus was able to run itself without any revenue since 2009?, if someone says, they got investments money, I would ask which investment agency or personnel funded them without getting something in return? , again since 2009?

Indigogo is about to end, and the entire picture seems so gloomy so far. I'm probably going to cancel my order before the end of this month. I guess I don't have enough time and mood to follow a legal action against Saygus afterward.

You're correct. I accidentally mixed up the terms. Guess that's what I get for posting first thing in the morning. Thanks for the correction, fixed the original post.

I guess another question to ask is how many employees have they had this whole time. I'd imagine much less than they currently have, as they probably hired new people for the V2. So it may have just been Chad and a few others most of the time the past several years, and they may not have paid themselves anything. It's hard to say without seeing the financial reports or knowing someone on the inside.

 

[phixeus]

How many of you guys requested a refund? I'm thinking about it now.. What phones are yall getting instead.

I requested my refund over a week ago and got an LG G4. Waiting for my refund now.

 

[dkryder]

i asked for a refund the last week of may. it was right after the lead up to the ship date that ended with no shipment. i think it was the middle of june when i got the funds. i do not have enough money to take a 550 buck gamble on saygus especially right after the mis-information campaign. i feel very fortunate that i got the money back. if the phone shows up and after 90 days of feedback about the owner experience, as well as reviews, look favorable i'll probably buy one on swappa or amazon. if i'm lucky, for less than $550.

 

[AMN35]

I've also now requested a refund. My nexus 5 will have to hold out a bit longer.

 

[phixeus]

Last week, I was talking about how Saygus should go into the refund business since that is about the only thing that they seem to do well. It took 4 exchanges to get them to process a refund. Now 5 interactions later, I go back on the website to check the status and find that my refund has been placed in an "On-Hold" status. Apparently they aren't very good at refunds either.

 

[billybob4]

How many of you guys requested a refund? I'm thinking about it now.. What phones are yall getting instead.

I bailed a week ago, and asked then. No refund has appeared yet.

So Far all I've had is a reply to a ticket saying 'We are processing your refund request this normally takes a week for it to be processed. We will also remove you from our customer list so you don’t receive future customer emails. If you would still like to receive emails about Saygus and the V SQUARED – please reply back with which email you would like us to add to that list.' ~ baring in mind it took a few days to get that message, I'm predicting a refund on May 22nd 2016 due to the lack of processing power they have available (I'm gonna go for a G4 I think)