An update to the situation though nothing surprising:

After many small promises every so often to receive payment I received the following email from Mike Frye:

from mike frye <killingmachine99@yahoo.com>
to Dave Tsang <code4@zero-signal.org>
date Thu, Feb 4, 2010 at 7:32 PM
subject Re: Hey man
mailed-by yahoo.com
signed-by yahoo.com

ok for sure when i get my income tax, i filed tofay should have it in 8-14 days. also driggs was talking about knocking 200.00 off cause im gonna do some welding on his car. i just emailed him before u. shit kept coming up but theres no fucking around anymore i need to pay u back already. when i get my tax return which should is 2,4XX.XX i will get u ur money. sorry its taken this long.

mike

Before the end of the 14 days I discovered that Mike Frye, AMM, obtained his own Dealer Section on Neons.org. I contacted the admin staff there, linked them to the appropriate posts that detail him admitting fault to the situation, and asked them how he was allowed to sell his shit when he was currently in the black.

Matt Wiggins promptly replied with:

from Matt Wiggins <wiggs@iskewl.org>
to Dave Tsang <code4@zero-signal.org>
date Fri, Feb 19, 2010 at 11:24 AM
subject Re: Regarding AMM
mailed-by gmail.com
signed-by gmail.com

If I were I would post in his forum asking for a status update on when
you will be paid back.

This begins to give us some ground to apply pressure and help if at
all possible.

I gave Mike Frye well enough time to receive this supposed tax return and pay me before posting in his Dealer Section. It can be found here.

http://forums.neons.org/viewtopic.php?f=107&t=358183

I will provide further updates as they are available.

Oh, and apparently he is selling an $800 turbo he acquired recently. Sigh...