Mark
Red Deer,#2Consumer Comment
Mon, July 22, 2013
Jeremy has been as much of a victim in this business as any of we investors. As an investor in Mediamatic Ventures, I was privy to information regarding the company. Jeremy purchased the video rental machines which were very expensive, payable in full at the time of purchase,from a company in the eastern US.
In his contract, this company was to supply servicing and customer support.The quality and support were poor to non-existant. The machines he was sold were obsolete and many of them were defective and the NJ company told him that eventually the "glitches" would be ironed out. After many calls and e-mails requesting help, this company became less and less co-operative, refusing to take the defective machines back and not taking his calls requesting support.
With cash flow drying up, unable to afford a trained and competent serviceman, Jeremy was left to his own devices to travel to machine locations to load videos into the machines and servicing them himself, often travelling 500 + kilometers one way, sometimes several times a week,to deal with a problem.
Some machine owners were unreasonable in their complaints. A video machine owner whose machine location was in a university location, felt that his rentals should be as high in volume even when school was out for holidays. Legal fees dealing with frivolous suits ate up what little cash flow was left and a hostile takeover by a ruthless and dishonest investor was the final blow that put an end to Mediamatic .
Jeremy tried to the best of his ability to make this venture profitable for everyone, but there were many factors that prevented him from reaching this goal.
Cory
United States of America#3Consumer Comment
Fri, May 07, 2010
I am an investor in Videomatic (as it was known at the time) and have since suffered severe financial loss due to Jeremy's misrepresenations. He paid me a portion of the machine profits for a few months, then stopped. I did receive another couple of payments eventually but haven't seen one dime since late 2009.
He has done this to a couple of dozen people apparently and several lawsuits have been initiated. Mac's Canada is among those who are suing Jeremy.
Here's a picture off of his website...