The AP found that 72% of the 500 companies had adjusted profits that were higher than net income in the first quarter of this year, and that the gap between those figures had widened to sixteen percent from nine percent five years ago. They also found that 21% of companies reported adjusted profits that were 50% more than net income, up from just 13% five years ago.Talk about "creative accounting".
A mere two days after our April shipping announcement, DD's longtime payments processor PayPal abruptly began refusing to process our orders and froze up many hundreds of thousands of dollars in our account while they invented a "terms of use review" for our product.
Many Ghost Gunner customers were personally emailed in the week thereafter and actually asked by PayPal for what purpose they intended to use their machine. I found both of these actions outrageous and condemned PayPal with the strongest language when I spoke with their risk department at the end of April, ending our relationship.
Now, PayPal is known to not be friendly to gun-related companies, this is true. And like our payments processor before them they acted like their hands were tied, but rather than cancel our accounts, they froze DD's funds and then demanded a ten million dollar reserve before they'd process any more payments. This happens to be the exact sum for which the company was recently fined for their deceptive trade practices. Coincidence? I'll let you decide. For my part, I told them to go to hell and refunded many of your orders.