AdViewGlobal Blames Slow Payouts, Glitches On Growing Pains; Bowdoin-Connected Surf Having Bowdoin-Like Problems
UPDATED 10:42 P.M. EDT (March 30, U.S.A.) AdSurfDaily President Andy Bowdoin held matching-bonus “rallies” in U.S. cities, walking away with millions of dollars and setting the stage for the government seizure of the funds last August.
AdViewGlobal (AVG), a surf with close ties to Bowdoin and ASD, hasn’t conducted rallies to date. But the company has been pitching preposterous bonuses virtually nonstop and now is featuring a 200-percent, matching-bonus program — for purchasers and their upline sponsors.
Here’s how one AVG promoter pitched the AVG offer (italics and emphasis added).
Anyone who purchases from $500 (or more) in advertising
will receive a 200% match as will their sponsor.
That means $500 turns into $1500 instantly!
$1000 turns into $3,000 instantly!
$2500 turns into $7,5000 instantly!
$5000 turns into $15,000 instantly!
Let me give you a realistic example of what could be your
reality almost immediately…
Let’s assume you purchase $5000 in Ad Impressions and get
credit for $15,000 with the 200% match.
Let’s also assume the average earnings per day on that
$15,000 balance is only 2/3 of 1%, or .0075%.
That’s an instant cash flow of $112 per day…
That’s over $3,000 per month without having to sponsor a
single person[]!
Never mind that two-thirds of 1 percent is 0.666666667 percent, not .0075 percent as the promoter asserted. And never mind that the promoter used a higher figure (0.75 percent) to arrive at the $112 daily earnings claim, instead of the lower figure (0.666666667, which would have kept earnings slightly under $100 per day, thus dulling the psychology of the pitch).
No, the important thing here — as evidenced in the email — was to sell the money angle, not the advertising angle — and that’s exactly what got ASD in trouble. (That and plenty more, too.)
Even though AVG’s problems were known before the email was sent, the promoter choose to ignore them.
Accompanying AVG’s bonus program was the sudden resignation of Gary Talbert, AVG’s chief executive officer and a former ASD executive, last week. The resignation was announced Friday, March 20.
On Monday, March 23, AVG announced its bank account had been suspended. Instead of ending the matching-bonus program, the company extended it. Instead of communicating with members clearly, AVG has been issuing vague and ambiguous announcements.
AVG now says it is having trouble meeting cash-out requests, blaming the problem on growing pains.
ASD also blamed its problems on growing pains and, like AVG, lost one of its bank accounts in the weeks prior to the seizure.
Here is what AVG members are being told by the company (italics added):
All pending Cash Outs previously requested through eWalletplus will be processed and completed by Wednesday, April 2nd, 2009.
AVGA has made arrangements for Cash Out requests be settled by Solid Trust Pay. Monies are being deposited to cover all Cash Outs; any delay in the process is due to the large number of Cash Out requests and perhaps an overload of the system. We can assure the membership that all Cash Outs requested through Solid Trust Pay will be honored and processed with all expediency.
All start-up companies encounter challenges on the road to becoming successful. This is especially true when that company has an innovative and creative concept. Ad View Global Association is not your ordinary Association. Companies and Association with new ideas to the market usually encounter resistance from the status quo. Do you imagine how many blacksmiths where put out of business when a small innovative and creative company called Ford rolled out its first car?
AVGA Management faces challenges everyday especially in this phase of our growth but we are determined to make this Association the largest Internet advertising entity in the world. This will take some time but it will happen. We will encounter bumps along the way but with the level of commitment that we have personally witnessed by talking to some of you, there is nothing we can not accomplish as a team.
AVGA MANAGEMENT
And, let’s not forget that at the “just under $100 per day” rate it would take the $5000 “investor” more than 50 days just to make their initial “investment” back.
That’s over 7 weeks.
Anyone willing to bet AVG doesn’t even make it to another 7 weeks, much less doing so without having to lower its’ “payout” rates ???
I say we grab our torches and pitch forks, head to Washington, D.C. and demand that the Obama Administration invest the full stimulus package in AVG. With a matching $2 trillion bonus, $1 trillion becomes $3 trillion INSTANTLY. Who could pass that up?
No need to worry about our future, no need for sacrifice. The whole country is rich! Who wants to be Obama’s upline?
You are too late. Obama and his entire administration is in my downline. When I saw this great opporutnity to invest in AVG, and the returns they were paying, I knew immediately they had financial experts running this. Obama agreed, and he and Tim G. are working secretly with the founders to bail out the financial crisis facing the country. In fact the leadership of the House and Senate are all on board with this great plan. At the rate of return AVG is providing we will have a 10 Trillion dollar surplus within 18 months at the 200% matching bonus level.
I think we even get a better sweetheart deal, like Andy gave to some of his big players, that we will get to keep just for ourselves. After all, we have to get some compensation for our time and efforts of developing this great downline.
They were especially interested since it is offshore, and we can avoid paying taxes. At least that is what Tim G is telling everyone on board this plan, and he should know. Heck this is better than winning the Publisher’s Clearinghouse Sweepstakes, and I didn’t even have to use a stamp. But if you are real nice, I will give you prefential treatment in my inner circle. Who wants to join?
Sign me up Lynn!!!! Three quarters of a percent per day (btw, that’s 0.75% Patrick ;-) or two thirds of a percent per day (0.6667%) is still way better than I am getting on my AIG/GM/F/C/BA/BOA portfolio, although my GE is up 79% in the last 21 days….. Heck, even the 0.6667% per day return is 173% per year (uncompounded). Neither Warren nor Jimmy Buffett can match that! Where do I send what remains of my retirement and 401(k) savings?????
Aren’t all these same players in the PBX? I was reading a report on ripoff report that PBX is having trouble paying cash out also.
Whip: PBX? Are you talking about Push Button Extreme, the doubler disguised as a real program? Ugh!
We warned our team away from that right away and watched all the usual suspects promote the heck out of it as the sheeple blindly followed them off the cliff again. Only those with big lists and in early make money on those projects.
The problem is that there IS a product involved that has some relative value so I wasn’t able to ban it from being advertised in our system like I can with the AVG’s, ASD’s and other unregistered securities.
But, it’s painful, nonetheless, to see people flocking into a mathematically untenable project based on false pretenses and expectations.
But, like Ron White says, “you can’t fix stupid”.
Oh, well
Clint
Clint, any pyramid scheme with an IQ higher than tapioca will have a fig leaf of a product. It isn’t a product that makes them in any way legal, it’s retail sales. How many people bought the “product” who were not also enrolling in the “income opportunity”? If the answer is Zero, as it is with PBX then it’s a text book pyramid scheme. You seem to see PBX for what it is, perhaps your “system” would benefit from reevaluating their standards.
My favorite Ron White quote:
“When life has given you lemons, make lemonade. Then find someone life gave vodka, and party”.
That would be the one. Here is the text of the complaint:
Push Button Xtreme is a BIG SCAM! I joined five weeks ago together with some friends of mine. I had $80.00 in commissions that I never got the chance to get, why? Because the moment when I was supposed to get my commissions, Push Button Support said that they were changing to Alertpay because it was easier and blah blah blah. A week ago, Friday 6th, I tried to send my commissions to my Payoneer Card. The ‘system did not let me do it’ because they said that it was going to be paid today Friday the 13th. So, today I found that they were switching to Alertpay and that I had to wait until Monday 16th to get my commissions. If I waited till then, Push Button would have got from my card $37.00 monthly payment. So, that meant that I had to wait until two weeks to get the rest of the money and if they sent me the money thru Payoneer card, which actually is a very expensive debit card, I had to pay $25.00, actually my return would have been only $55.00. So, I closed down my account and said good bye to Rachell Long and the rest of the SCAMMERS who are promoting this BIG LIE…my friends and I never CYCLED…not even ONCE in a WHOLE MONTH! They promise heaven and earth and when you JOIN…YOU DO NOT GET PAID! Don’t spend money with this BIG SCAM! My friends closed their accounts two weeks ago and until this day they have not even received their $37.00 for cancellation!
As you can see, the ‘change of payment processor’ excuse has reared it’s head again. I was under the impression that this was just like ASD. I guess I was incorrect?
Whip: As far as I can tell, the PBX comp plan operates like a doubler, where you get placed in a single straightline and new members (or monthly renewals) are placed at the bottom of the line, thereby pushing everyone up. Once you get to the top you earn and cycle again.
The problem with the math is that it IS Similar to ASD but they don’t pay daily %, just insinuate, promise that you can earn $X/month. Well, yeah, but, that’s predicated upon more money pushing from the bottom.
The math is very similar in that it takes like 2.5 – 3 times more money to push each person through the straightline. So, $1 new dollar needs $2.50 – $3.00 to push it through. But, that’s for the FIRST dollar in. The amount of money needed to push the later SUCKERS through it much larger.
There are, as I recall, additional bonuses for earnings by direct referrals, etc. but that’s the essential model.
Over hype, over promise, then rely on obscure TOS to weasel out.
The same model, in different packages, was tried by LawnChairMillionaire, Gorilla Millions etc. Both are essentially dead.
Gibline/Giblink tried a similar model with HUGE Promises of a New mathematical paradigm of commissions, but, it, too fizzled as an ongoing passive income source as originally presented. What has kept Gibline rolling is that they actually DO have a valuable product, the biz op social network. But, they never performed on the pie in the sky income for the average sheeple who bought into the income concept. The only people who made big dough at giblink/gibline were the early adopters and those with big lists. (sound familiar?)
Someday, maybe, people will learn. (Or not)
Clint