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| The Online Resource for Network Marketing and Direct Sales Professionals |
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Closed
Network Marketing Companies Affordable
Luxuries Closes Without Notice Andrew M.
Spellman (ams@affordableluxuries.us) MLM
World News Today Company website is down, phones are disconnected. Primebuy
Network Owners and/or Executives: A class action
suit was filed by investors againt the two founders of the company, Charles
Culver and Charles Michel. No other employees were named in this suit.
Summary: According to the press release dated Friday May 11, 2001, a complaint was filed against PrimeBuy Network.com, Inc. The complaint alleges that, during the class period, PrimeBuy and its co-founders, Charles Michel and Charles Culver, violated multiple sections of the Securities Act of 1933, the Securities Exchange Act of 1934, and the Idaho Securities and Consumer Protection Acts, by misrepresenting and omitting material facts in connection with the operation, financial condition and prospects of PrimeBuy, and in connection with PrimeBuy securities. The complaint further alleges that defendants were conducting a classic 'pyramid' scheme, in which the PrimeBuy Internet Mall was simply a multilevel marketing scheme, offering an array of shopping 'opportunities' already available on the Internet. In addition, it is asserted that defendants misrepresented that the memberships and/or stock issued by PrimeBuy complied with applicable state and federal securities laws, and that the Company would be holding an initial public offering of its stock during September 2000. As a result of these false and misleading statements and omissions, investors are left holding worthless shares of unregistered stock in an allegedly illegal pyramid scheme. 1Network.com Owners and/or Executives: Click
Incomes (clickincomes.com) J. Stewart Borie,
President (source: otcheadquarters.com, a stock promotion company that also promoted techlabs (TKLB), the public company behind 121.tv (also closed without notice)) ClickIncomes.com gathered leads through an affiliated site called YouWinIt.com, which promised to pay winners over a period of 25 years. Both companies have folded. ClickIncomes was part of Executive Help Services, Inc. Click
here for an October 2000 article on StockPatrol.com about ClickIncomes
and YouWinIt
TrekAlliance BigSmart Richard Slaback, President and CEO.* Principals: Mark Tahiliani and Harry Tahiliani * Richard Slaback
resigned as CEO prior to final company closure. Bigsmart.com Consent Decree (State of Maine vs BigSmart, LLC) BIGSMART.com
Member Correspondence regarding Maine AG action Bigsmart
Pyramid Promoters Settle FTC Charges iPowerBiz Jerry Ballah, CEO Steve Templeman, Senior Vice President iPowerBiz filed bankruptcy amid a flurry of complaints ranging from unpaid commission checks to unauthorized credit card charges. OneWorldOnline Kelly M. Thayer, Chairman of the Board and co-founder. David N. Nemelka, CEO, Director, and co-founder. David Bradford, Director. The Payline www.thepayline.com Richard Robles ( R. Robles ) President Company website atr www.thepayline.com was down briefly, and now is up with message: "The PayLine has transformed into PayLine Gold Travel and Lifestyle Rewards. Join us for fun and for profit. PayLine Miles are now "PayLine Gold MegaBucks", the ultimate travel currency." 11/14/01 121.tv A subsidiary of Techlabs (www.tklb.com) Michael
Skellern ( Mike Skellern ), Interim CEO** The company website is down, "profit portals" are unavailable online, and phones are not being answered. Anyone with any info on this closure please forward it to npros@npros.com. If you are a representative of 121.tv, please let us know if any notice was given prior to or following the closure. Reps have reported that the company closed without notice, and without refunding rep fees. **Michael Skellern
comments in an email request for correction that he "was interim
CEO on a consulting assignment and departed the ECB4U, PowerCard International January 25, 2001 | BALTIMORE, USA -- The Securities Division of the Maryland Attorney General's office has issued a 'cease and desist order' against Powercard International (doing business as ECB4U), its founder Stewart Giardina, Ed Lamont and seven other distributors who promoted ECB4U from an office called E Commerce Solutions in Timonium, Maryland. KM.Net 6483 Van Buren, Suite 203 Daphne, Alabama 86008 www.km.net Stewart Giardina President/CEO No information on closure, website is no longer active. This information was provided online elsewhere: 10/24/00 PowerCard International Inc., formerly doing business as KM.NET, is pleased to announce that, after many months of hard work and negotiation, it has arranged to preserve your original dream of e-commerce and network marketing. Under the new name ecb4u.com (e-commerce business for you), the continuation of an assured One-Stop Shopping Mall facility is available, in a new and improved e-commerce package (ECP). Immediately go
to your KM Mall site, for the last time, and gather your original
10 digit ID# and password. Bring those with you to your new Web addresses: http://www.ecb4u.com - Your New Online Business Office
Equinox International Closed by FTC Bill Gouldd, Founder Settlement and
Receiver Information: Mountain
Gourmet Manufacturer of wooden utensils and Shaker boxes. Web site states that effective 2/15/00, Mountain Gourmet is closed. Wilton
At Home (division of Wilton Industries) Closing of the Wilton at Home division. PRSI
(Professional Resources System International) Closed under restraining order by Floriday Attorney General. Celestial
Harvest Folded 2Xtreme / USAsurance Group/Akahi FTC Action Principles: John T. Polk, Patrick Farah, Peter Hirsch, USAsurance Group, Inc., AKAHI Corp., AKAHI.COM, Inc., 2XTREME Performance International, LLC., and AFEW, Inc. The businesses are based in Englewood, Colorado; Dallas, Addison, and Carrollton, Texas. Jewelway International Permanent
Injunction Wi-Mall / WiMall.com /I-Ventures Principals: Wayne Holbrook, Duane Barney, Robert Schneck, Bob Wright ISIValueNet / Fortune21.com Principals and Executive Staff/Technical staff : J. Albert Sweeney ( Jim Sweeney, James Albert Sweeney ), Richard Croft, Don De Los Rios, Rick Shea, Kevin Allen FutureNet / FutureNet Online Bankruptcy, FTC Injunction Principals: Alan J. Setlin, Robert Depew, Chris Lobato, David Soto, Larry Huff Undisclosed
circumstances. From SEC filings: "In August, 1998, the GCST, a Florida corporation, entered into a reorganization agreement with Secure America, Inc., a Delaware corporation, pursuant to which the Registrant issued 5,800,000 shares of common stock to the shareholders of Secure America, Inc., in exchange for one hundred percent of the shares of common stock of Secure America, Inc. As such, Secure America, Inc., became a wholly-owned subsidiary of the Registrant." "Peter J. Ferras" was later documented in the the role of President/CEO of GCST / R-Way Corporation (SEC filing 10SB12G/A , press release section). The company later changed its name to RBID.com, with Peter J. Ferras acting as CEO/President "According to the company's President, Peter J. Ferras, "This name change is important to us as we set out to build a strong name recognition in the online auctions and shopping areas and is designed to better identify the company with its current lines of business." (reference SEC filing) In October, 1999 AHC-I, a Nevada corporation, acquired 50.1% of the company. To that end, Mr. James Peter Ferras, Ms. Ann Ferras and Mr. John Horne resigned as directors and officers of the Company. Prior to the resignation, the following persons were elected as directors of the Company: Mr. Horst Danning, Dr. Klaus Bartak, Mr. Emilio Francisco. Mr. Ferras remains listed on the management page of RBID.com as "Mr. Jim Ferras, FOUNDER, PRESIDENT Marketing and New Product Development" Elias Ventures, Inc. (dba American Freeway 100) Principals: Eli Masso ( Elias Masso ), Nanci Masso ProTravel Solutions Undisclosed Circumstances. Jerry Heald, President Former reps have
stated they received no notice from ProTravel prior to the closing.
Two companies, YourTravelBiz and TotalTravel4Less have apparently
offered to service former reps travel businesses. TravelMax
International *ProTravel Solutions has also closed. World
Class Network, World Class Travel Principals: Danniel R. DimaCale ( Danny DiMacle, Daniel DiMacle ), Denise L. DiMacle, Robert C.K. Lee, Howard K. Cooper, Jerome L. Goldberg
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