Wazzub offering virtual shares? IPO in late 2015?!
Earlier this year Wazzub (aka My Perfect Internernet) announced they were turning to crowd-sourcing to get a 3D version of their app onto Wazzub branded 8″ tablets.
Wazzub had hoped to raise $100,000 by June. Whether or not that happened is a mystery, but today there’s no mention of these tablets on Wazzub’s homepage (My Perfect Internet’s web design is terrible so I didn’t take a thorough look through the site).
In any event, through the brand “We Share Success” (wesharesuccess.perfectinter.net), now Wazzub are issuing virtual shares to their affiliates… and there’s even talk of a Q4 2015 IPO offering.
Seriously?
At this stage Wazzub maintains that affiliate membership to the site and the shares themselves are free.
So how do affiliates receive them?
When Wazzub was soliciting crowdfunds earlier this year, those who invested were promised virtual shares. How many shares were issued is a mystery, but going forward affiliates can only receive shares by recruitment.
Ten Wazzub virtual shares are awarded when an affiliate signs up and then five shares when a new affiliate signs up, awarded down five levels of recruitment (think unilevel).
Apparently the “prelaunch” of We Share Success kicked in on November 11th, despite Wazzub itself being three years old.
Affiliates have been given until February 19th 2015 to recruit-spam, with Wazzub then promising to… wait for it, pay out “profit-sharing”.
You will receive a share of the total Profit Share based on the relation between your confirmed # of shares and the total# of company shares.
As you are not yet a shareholder before IPO of “We Share Success Inc.”, the profit share will be paid as a commission.
After IPO you will receive your profit share as a yearly dividends payment as long as you hold one or more of your shares.
So those who recruit the most and have the largest downlines, get the largest share of the profit.
Wazzub’s initial business model saw them depend on advertising combined to a search engine script. Over the past three years they’ve tried to raise revenue to pay affiliates with but it hasn’t really gone anywhere.
If the total profit of the company for a specific month is zero or negative, there will be no Profit Share for that month.
Needless to say there’s obvious offering of unregistered securities concerns with Wazzub’s latest offer.
The primary address Wazzub are using appears to be a virtual mailing address in the UK. A secondary address in the US state of Nevada is also provided, however the We Share Success “Terms and Conditions” state
WSS has founded the “We Share Success Inc.” under the laws of Oregon, USA.
Whether or not Wazzub are charging for these shares is immaterial, as clearly they are being offered on the expectation of future advertised profits.
-GET 10 REAL COMPANY SHARES AS A WELCOME BONUS
-GET 5 REAL COMPANY SHARES FOR EACH INVITED FREE MEMBER
-RECEIVE PROFIT SHARE AFTER LAUNCH
-TRADE YOUR SHARES AFTER IPO AT OFFICIAL STOCK EXCHANGES
Paging the SEC to aisle 4…
As the Wazzub trainwreck continues, I guess we’ll check back in around February to see where they’re at.
Is there any connection to “Yagooft” ? The logos are kind of similar and the “internet search” angle is sort of similar.
Could just be me.
Xorly
Whatever eventuates, you can rest assured what Wazzub ends up doing won’t be a legitimate “IPO” or “Initial Public Offering”
which leads us to:
For sure, it may, unlikely as it seems, survive long enough to sell shares to its’ membership, but, it sure as h*** won’t be via an “initial public offering”
The latest from Wazzub:
Struth!
IPO planned for April 2015 (according to the PerfectInter.net website).
The PRE-IPO / IPO was partially predicted in the initial Wazzub thread from December 2011, i.e. that Wazzub eventually would try to sell shares to the people they recruited.
SEC must be or must be made aware of PI.
Perfect Internet Inc. is saying on their website that their IPO is set for this April 2015 and that it may be well the BIGGEST LIE of one of PI supposed founders Dan Settgast, including all PI directors to those members and investor which had given money to this group of corrupt and liars.
To make matters more funny or disgusting they had sold shares of a to be founded company named BOBL Inc but this corporation name is an already registered company since 3 or 4 years ago BOBL LLC egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1540263&p_srce=BR_INQ&p_print=FALSE .
Caveat-Emptor
Hello sir,
When will declared fix shares and when give the money.
Perfect Internet Inc. is saying on their website that their IPO is set for this April 2015 and that it may be well the BIGGEST LIE of one of PI supposed founders Dan Settgast, including all PI directors to those members and investor which had given money to this group of corrupt and liars.
Perfect Internet Inc. is A LIER SITE.AND GREAT CHEATING SITE.
I still get updates on Wazzub from time to time, with their PRs titled “Day 1000+: Blahblahblah”.
After over a thousand days this is still a thing? Who on Earth is putting the effort into maintaining the facade of a business that never was?
Perfect Internet (and any of their other related companies) is not selling shares. They are selling a COP… Co-ownership Program.
A COP is not an equity or debt security. As such, a COP probably is not scrutinized by the SEC. The SEC looks at companies selling unregistered securities. A COP is not a security.
Anyone stupid enough to give these guys $600 for six COP units is living in an otherworldly pipe dream. They use sales talk and comparisons.
For example, if you owned 0.001% of Facebook you would have become a millionaire at the time Fb went public. The difference was: Fb sold shares to private investors not COPs. This is a big difference.
Promising an IPO is misleading and pure bull…. To go public on the NYSE or NASDAQ you need to have money and pay a registration fee. The fee is more than $500,000.
Perfect Internet does not have this kind of capital sitting around. And they do not have audited financial documents to accompany this type of filing.
To be listed on the Pink Sheets or Over the Counter, you also have to file documents with the SEC and this costs more than $50,000. Again, Perfect Internet does not have the financial capability to do this.
Everything is a pipe dream.
Unsophisticated or non-accredited investors would not know or understand any of this. If you did not liquidate your COP when the opportunity was given to COP holders, the money people gave the company to own a COP is now gone.
Your chance to get back your original money plus a cash benefit was your only chance to make money.
Pay $$$ for six COP units in the hope you’ll receive a passive ROI = a security.
And whoever told you so is probably NOT a securities broker or lawyer and thus is completely UNqualified to make such a judgement.
Face it: co-ownership = equity. Saying COP is not equity is just weasel word soup.
To Mr. Chang—-
I WAS a multi-licensed financial adviser with Morgan Stanley managing high net worth clients, and it seems you are the one who is unqualified to make any comments related to investments.
I am qualified to make exactly the same statement as I did.
I guarantee you an IPO will never happen with Perfect Internet or any of their related companies, and you will not receive a dime back on your “investment” holding a Co-Ownership Program document. There is no such equity instrument (COP) that provides a payback.
If you were qualified, you would already know that a Co-Ownership Program generally relates to real estate ownership and NOT a stock or equity issue regulated by the SEC.
Right, because that’s what Perfect Internet is.
And the Wazzub offering wouldn’t fulfill the Howey test requirements how, exactly (That would be “exactly” and not your “generally”) ???
Now Perfect Internet is organizing a show in Las Vegas next year for singers, dancers,………