FriendString Review: AdReverts admin tries again…
There is no information on the FriendString website indicating who owns or runs the business.
The FriendString website domain (“friendstring.com”) was registered on the 9th of July 2014, listing an “Enrico Villanueva” as the owner. An address in Davao City, Philippines is also provided.
Both AdReverts and FriendString use the same nameservers, strongly suggesting both domains have the same owner.by the same owner.
Both Ads Davao and AdRevers were Ponzi schemes which have since collapsed, with FriendString appearing to be the admin’s latest scheme.
Read on for a full review of the FriendString MLM business opportunity.
The FriendString Product Line
FriendString has no retailable products or services, with affiliates only able to market affiliate membership with the company itself.
The FriendString Compensation Plan
The FriendString compensation plan combines a recruitment incentive with the purchase of matrix and revenue-sharing positions.
Matrix commissions in FriendString are paid out via a 3×10 matrix compensation structure.
A 3×10 matrix sees an affiliate placed at the top of the matrix, with three positions directly under them (level 1):
These three positions form the first level of the matrix, with the second created when each of these three positions splits into another three positions each.
In this manner each new level of the matrix is created, down a total of ten levels.
Commissions are paid as each $12.50 position in the matrix is filled (via other affiliates purchasing positions), with a total of over $44,000 paid out when a matrix is completely full (note that FriendString do not provide matrix payout specifics).
Note that each matrix position purchase also includes a revenue sharing position.
Revenue sharing positions in FriendString cost $8 and pay out a $12.50 ROI.
Referral commissions are paid down five levels of recruitment, however FriendString do not provide specifics on their referral commission structure.
Each month FriendString set aside 10% of the company’s net profit for the month, and share it with affiliates who recruit new affiliates.
For every three affiliates recruited who purchase either a matrix or revenue sharing position, one share in the pool is awarded.
Then, at the end of the each month, FriendString share out the funds in the pool to each affiliate who has shares.
Affiliate membership with FriendString is free.
FriendString is the latest attempt of someone in the Philippines to scam people, each time slightly changing the business model they deploy.
FriendString combines elements of a Ponzi and pyramid scheme, making it a hybrid.
The matrix side of the business pays a ROI subject to new positions being invested in, with the revenue share being more of a passive Ponzi ROI model.
Both are tied to the recruitment incentive, rounding out the hybrid nature of the scheme.
As with all Ponzi schemes, once new affiliate investment in matrix and revenue sharing positions dies down, FriendString will find itself unable to meet its ROI obligations and collapse.
This will first present itself by way of revenue sharing positions not paying out daily, with the matrices then stalling shortly thereafter.
Interesting enough, FriendString appears to have already collapsed. The scheme was initially launched on the “friendstring.net’ domain in early May.
According to an official FriendString Facebook post dated May 14th:
We only have few members onboard but there’s no stopping the Luanching (sic) will be in few more hours away…
And then on May 15th:
As you can see there are only few members on board for now while many just watching our site grow and are observing, but risk takers don’t mind the risk of losing… and won’t wait for momentum they create momentum…
Over the next few days the scheme collapsed, with a relaunch on the “.com” domain announced on May 23rd.
Nothing since has been published on the FriendString Facebook page, indicating the relaunch probably flopped too.