15/04/2011. Second Interview with the admin of ExtraIncome

BEWARE! THIS PROGRAM HAS STOPPED PAYING! PLEASE DO NOT INVEST!

Hi everybody! I hope you’re all looking forward to the weekend as much as me! I have a couple of interesting articles lined up for the next couple of days, but the one I want to start with is the following interview with Phil Whitaker, known to most of you as the admin of ExtraIncome. Phil has done a lot of good solid work in the HYIP arena this last few months and has turned his program from a relatively low key performer into what’s arguably (well, indisputably in my own opinion!) the most successful short term investment opportunity of the year. In fact if you don’t know who they are by now, you’ve probably never heard of the online HYIP industry either!

Phil was first interviewed on MNO here, but owing to the runaway success story that is ExtraIncome a couple of readers contacted me with a view to updating it. I agreed that the time was right and invited readers to send their own questions this time. And given the fact that due to tight schedules I was only able to keep the invitation open for 24 hours I was still impressed with the response, so a sincere thank you to everyone who submitted a question. Apologies if you don’t see your exact question listed here, but many were repeated so I had to combine them. I hope you’re satisfied with Phil’s answers!

So just to recap, ExtraIncome is a short term program offering terms of 120% after 5 days, 145% after 10 days, and 170% after 15 days, principal included. They were first reviewed on MNO here, and can be discussed on the MNO forum thread here.

“1. Hi Phil, can we start by you re-introducing yourself to the readers and for the benefit of anyone who doesn’t know give us some background information on the program?

Hi Paul. My name is Phil Whitaker, and I am the Chief Executive Officer (CEO) of the prestigious ExtraIncome. I administer the whole management of ExtraIncome. I also have a partner working with me, and who has the role of the Chief Financial Officer (CFO) of the more than 1,000,000 in deposits.

2. Can you also describe the investment plans you offer and what payment processors investors can use to join?

ExtraIncome offers its members 3 different investment plans to choose from, which are highly lucrative. The plans we offer are:

Basic Plan: 120% after 5 days – Minimum Deposit: $5 Maximum Deposit: $5,000
Medium Plan: 145% after 10 days- Minimum Deposit: $100 Maximum Deposit: $15,000
Premium Plan: 170% after 15 days- Minimum Deposit: $200 Maximum Deposit: $25,000

The principal amount invested is included in the returns, and whatever percentage remains as per the plans, will be the profit.

We offer our members the opportunity to invest and withdraw with three widely accepted payment processors, Liberty Reserve, Perfect Money, and AlertPay.

3. How much has changed in your program since our last interview? How popular is it now? What statistics can you offer us on the size of the membership and the amounts being collectively deposited?

ExtraIncome has gone through a number of superb changes since our last interview. We have switched our server from DDoSWiz to a faster and highly secure server from Dragonara, implemented the high quality Dragonara WebPIPE protection, implemented instant withdrawal system and started our official forum www.board.exincome.com. We will soon be implementing Secure Sockets Layer (SSL) feature, adding Live Chat, and many other exciting features.

ExtraIncome has attracted over 15,000 members over the past 4 months of being online, out of which 12,000 are active, and has collected over 3,000,000 in deposits, and paid out over 1,000,000 in withdrawals.

4. We’ll move on to questions submitted by the MNO readers now. First of all is there any particular reason for not accepting either GlobalDigitalPay or especially SolidTrustPay?

As most of you know, SolidTrustPay was once a widely recognized payment processor in this industry. But over the past few months, its reputation, popularity, and usage has declined by a very great extent, especially with the rise and reputation of the payment processor, AlertPay. Only a very few members in this industry use SolidTrustPay, and there is no point in accepting SolidTrust Pay, when the other widely used and major payment processors LibertyReserve, PerfectMoney, and AlertPay are accepted.
As for GlobalDigitalPay, it does not even have the popularity of SolidTrustPay.

5. I remember ExtraIncome had a very rough time on some of the forums recently with some bad accusations being made. What was it all about and what’s your side of the story? Can investors be sure the problem is over now?

Those accusations were made by members whose accounts were blocked since they indulged in self-referral cheating by creating multiple accounts, and stole money. Please note that creation of multiple accounts for the sole purpose of self-referring is against the terms of the program, and if we find any member involved in such misconduct, we will block all accounts possessed by that member, and freeze the funds in it. This is done with the best intention to protect the funds of our honest and loyal members. We will not allow any cheaters to steal the money of our honest members.

Members who are honest with us, and do not violate the rules of the program, will not have to be worried of anything. They can invest and earn a lot of money from us.

6. Do you still have such a high opinion of GoldCoders after so many other admins claim to have been hacked and say their products are full of backdoors?

GoldCoders is still the best script in this industry, when the overall rating is considered. As far as the security matter is considered, I do acknowledge that it has backdoors, and it is possible that the funds in it can be hacked, but not with ExtraIncome. Our highly sophisticated security system prevents any hacking attempts, and keeps the funds of our members 100% safe and secure.

7. How did you manage to remain the number one investment program for so long?

It is not a very difficult task to remain so long in this industry. To summarize, what made us to remain the number one program in this industry can be said in three words – our good motives. Most program admins do not care about their members. All that matters to them is the money they make, and all that they have in their mind is to run away with the money. But ExtraIncome is totally different. What we care about is the profits our members make. We are here for our members, and not for us. ExtraIncome is for our members. We were not the top program when we launched, but with consistent payout and fast customer support, our members started to see that we are different from other programs, and they started to realize that ExtraIncome is the program in which they could invest without be afraid or worried.

Moreover, our consistent advertising, and implementation of new features, helped us to reach the top position, and remain there as such for this long, and we intend to be the top performer for the years coming ahead.

8. If in the future things do not work out, will you alert your investors before you close? If you do alert them this will definitely make you different from other online HYIPs.

First of all, the management of ExtraIncome has not for a second, thought of closing the program, and we will not close it, whatever drastic situations we will have to come across. We have a huge back up fund which will help us to overcome any financial crisis, if we have to come across any, which we believe will certainly not happen. ExtraIncome intends to stay in business for many years, and to provide our members with the best service.

9. Will you be introducing any new investment plans?

We will not be introducing any new plans, and we do not find the need for such a change. The already offered plans are highly lucrative, and our members are already more than happy with it.

10. With communication being so important, wouldn’t you increase your credibility by providing phone support and your address?

Our members can contact us by sending us a support ticket using the support form, or by sending us an email to admin@exincome.com. Our customer support is highly efficient, and all support tickets are usually replied to with 12 hours, even on weekends. But we do understand that phone support is an integral part of customer support for any business, and we plan to implement such a feature in the near future. Our address can be seen in the Contact Us page of our website.

11. Is the company legally registered? And if so where?

ExtraIncome is not a legally registered company. We are an online investment program, and we use the funds invested by our members to generate profits through foreign exchange trading, and other profit generating ventures, as we have mentioned before.

12. Nobody can predict the future, but what do you think of the near future for ExtraIncome, will your great HYIP last for several months?

The future of ExtraIncome is very bright. We are growing stronger and stronger everyday. With the present growth rate, and the amazing support from our members, we are more than positive that we will be able to last for many years to come. That is the main goal of ExtraIncome. We are here to stay for many years, and to provide the best service for our members.

13. The referral contest was announced within days of LibertyReserve resuming operations. Is the announcement of the contest to make up for loss revenue when LibertyReserve was down?

The referral contest has nothing to do with the downtime of LibertyReserve. We had plans to run a referral contest earlier itself, and we decided to start it last week. It had absolutely nothing to do with the downtime of Liberty Reserve. In fact, the downtime of LibertyReserve did not affect us at in anyway at all. Needless to say, our members were waiting for Liberty Reserve to come back, to invest in ExtraIncome. When the site of Liberty Reserve came back online, we saw a lot of members flooding our Liberty Reserve account with huge amount of deposits. That is when we realized that our members trust us and believe in us so much.

14. Maybe now we can talk about some of the general statistics about your program since the first review, and the last interview an MNO. To start with:

a) How much bigger is ExtraIncome today than it was back then? How many more investors do you have?

ExtraIncome has grown by a very great extent, since the first review. Almost over 12,000 members have joined the program since the first review.

b) What about some other general statistics? For instance, what percentage of members join using each of your payment processors?

The most preferred payment processor among our members is AlertPay. Almost 50% of our members use AlertPay, and the remaining use LibertyReserve, and PerfectMoney, with PerfectMoney being the least preferred payment processor used among our members.

c) What percentage of members are in each plan?

Most of our members choose the Basic Plan to invest in, but then again, there is not much difference in the number of members who choose to invest in the other two plans. Almost 40% of the members have deposits in the Basic Plan, 35% of them have deposits in the Medium Plan, and 25% of them have deposits in the Premium Plan.

d) Then, as the admin of an online business, what’s been your greatest source of on one hand traffic, and on the other hand actual active members? Is it forums? Monitors? Something else?

We have been advertising our program consistently in most of the top monitors, and blogs. Moreover, our members are helping us a lot in supporting and promoting us to their level best.

15. And finally, what are your future plans for ExtraIncome? How are you going to maintain the programs performance in an industry with what’s basically a very limited audience? How will you promote it further and what are your general plans for the future?

ExtraIncome will be implementing the Secure Sockets Layer (SSL) feature quite soon enough. We will also start to offer Live Chat, and phone support, for our members in the near future. We have so many exciting implementations coming ahead, and all those will be done gradually.

Thank you Paul, for spending your time to interview me.”

And thanks a lot to Phil for taking the time to answer the readers questions, but especially once again thanks a lot to the readers who submitted those questions and I hope Phil has explained everything to you in a reasonable manner. If not then write to him and not me, lol! Best of luck as well to all the current and future members of ExtraIncome, I hope it will be as profitable an experience for you as it has for the countless investors to take a chance on them over the last few months – in itself a remarkable achievement.

That’s about it for today everyone, there’s no news update tonight due to it being an otherwise pretty slow day, but I can assure you there will be a complete round-up of everything going on in the industry posted tomorrow. Enjoy the weekend and see you all then!