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Chris Mallick Booted From Epoch

2/18/05. His partners got rid of him. I thought he had ownership in the company (the most important credit card processor in porn)? Now he's been shut out of his own company.

He was the CEO and posted on the webmaster boards such as GFY.

I hear Mallick's partners at Paycom were unhappy with the way Mallick blew through company money. You'd see Chris at tradeshows with his bodyguards and private suites. He lived the high life. He dropped tons of cash.

I wouldn't be surprised if his monthly expenses weren't $150,000. Was this all for business?

Was this for Kimmy Kim to sit on his lap? No.

He leased a jet and used it for business and personal travel.

Mallick had more than his share of porn stars, hookers and chicks but nobody says he has a drug problem.

Chris Mallick ended up with Epassporte.

I'm sure he'll end up somewhere in porn.

Chris Mallick posts on GFY:

To clear the air, some basic facts:

1. The rumors that I quit as CEO are not true. I did not quit my job as CEO of Paycom.

2. It is true, however, that I am no longer the CEO of Paycom and I have not been the CEO since February 11th.

3. I continue to own my shares in Paycom; nothing has changed whatsoever as to my ownership percentage, nothing.

4. It is not possible to reach me through Paycom email or on my old cell phone number. Those have changed. If you want my number and / or email, please reply to this post and I will contact you ASAP.

5. If you have received a reply from me at Paycom or ePassporte since February 11th at 5PM PST, the reply did not come from me. I would like to know if you have any such email reply. The same is true for my cell phone voice or text messages; I have not had those since the 11th either.

6. I am not leaving the credit card issuing or processing industry in any way, shape or form.

7. It is not proper for me to say anything more at this point, but I will, soon.

Any of you that know me, know that I will give you cold, hard, reliable and accurate facts, but only when appropriate. I feel like one of my strengths is communication. I believe in it whole-heartedly and that won’t change. So you will be hearing from me soon as to this event and as to my plans for the future. I hope that when those plans are announced you will be happy and excited for me and about the prospects they will bring. Well, not everyone will be happy or excited….

Brad Shaw posts: "Chris, you helped to bring Epoch back from near death. I remember the days when Epoch checks were far far behind, now they are like clockwork. Sad day."

AlienQ writes: "Now I know why it is raining in LA."

Rand writes on GFY:

OK guys. Chill. This industry is on pins and needles all the damn time. Granted, in many ways I can understand why. But Epoch's recent management changes do not signal the end of anything. Officially, all that has happened, and I do mean ALL that has happened, is that Chris Mallick has departed as CEO of Paycom. The two guys who've been at Epoch from day one, Clay Andrews and Joel Hall, are still here doing what they've always done. They are looking out for their business and their clients with a long-term objective on all matters. As many of you know, Epoch has always taken on the role of fighting for the longevity of this industry. Those same guiding principals are still in place. Sometimes a change in management is what is necessary for a company to grow. For the record....

1) Epoch has not incurred any fines.

2) Epoch's merchant banking relationships are excellent.

3) Epoch's day-to-day operations remain unchanged.

4) Epoch's plans to expand services in the EU remain unchanged.

5) Epoch has not increased scrubbing.

6) Epoch's portfolio is strong and within all card association rules.

7) Epoch is fully committed to long term objectives.

Those people who feel the need to start rumors of any nature in regard to Epoch or its operations are not doing anyone any favors. The relationships of this industry are important and "Chicken Little's" need to get checked. I can say without any hesitation that everything at Epoch is fine. Any rumor serves some ulterior motive. If anything said anywhere does not agree with the points I made above, it is simply false. End of story. Really guys, this is a management decision. It happens every day in business. It's nothing more. Business as usual.