AtmosO2 shuts down within 24 hrs of BehindMLM review
Roughly twenty-two hours ago as I write this, BehindMLM published a review of AtmosO2.
In a nutshell, AtmosO2 was an unregistered securities offering run by Ocular Tech.
Barely half an hour ago, AtmosO2 CEO and Ocular Tech co-founder Dager Contreras announced he’s shutting the MLM opportunity down.
In an announcement sent out to AtmosO2 affiliates on December 19th, Contreras (right) wrote;
Today we were informed of a review that was posted on behindmlm.com where the admin of the blog describes our compensation plan and services and expresses concerns with some of the aspects of our structure.
Prior to this review being posted, some of these concerns had already been brought to light to us by our legal and compliance team and we have been evaluating the entire structure and looking for ways to modify so that we can still bring value to you and remain compliant.
While we had every intention to make these changes and reintroduce ATMO2S in January, considering the above and with advice from our legal and compliance team, at this juncture it is best to discontinue ATMO2S effective immediately.
To their credit, Contreras has promised AtmosO2 will ‘issue a refund to every person that participated‘.
For the record, AtmosO2 could have operated legally in the US had they of registered Ocular Tech’s securities offering with the SEC.
Said registration would have required AtmosO2 to disclose the exact nature of their annual ROIs- from source funds to how they are paid out to affiliates.
Why Dager Contreras chose to shut AtmosO2 down instead of register it or Ocular Tech with the SEC is unclear.