Progmatic AdsPaid Review: Matrix cycler ad credit Ponzi
There is no information on the Progmatic AdsPaid website indicating who owns or runs the business.
The Progmatic AdsPaid website domain (“progmaticadspaid.com”) was registered on the 21st of December 2015, with “Baron Cuthbert” listed as the domain owner. A residential address in London, UK is also provided.
Baron Cuthbert sounds obviously made up, with a quick Google search for additional information turning up nothing. The address provided is that of a residential flat in London, which is unlikely where Progmatic AdsPaid is being run out of.
Tan official Facebook page linked off the Progmatic AdsPaid website was created by Eric Chin on the 4th of January.
The Chin profile also appears to be bogus, with the profile picture used belonging to that of Kevin Marks. Marks is a well-known former Google engineer.
Typically a UK registration with fake Anglo-Saxon name is the work of Indian scammers. The fake Eric Chin profile adminning the Progmatic AdsPaid Facebook page further supports this.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The Progmatic AdsPaid Product Line
Progmatic AdsPaid has no retailable products or services, with affiliates only able to market Progmatic AdsPaid affiliate membership itself.
Once signed up, Progmatic AdsPaid affiliates can invest funds with the company and participate in the MLM income opportunity.
Bundled with each “ad pack” investment are a series of ad credits, which can be used to display advertising on the Progmatic AdsPaid website.
The Progmatic AdsPaid Compensation Plan
The Progmatic AdsPaid compensation plan sees affiliates invest in ad pack and matrix cycler positions.
Matrix Cycler Positions
Matrix cycler positions in Progmatic AdsPaid cost $25, with positions passing through a four-tier 2×2 matrix cycler.
A 2×2 matrix places an affiliate at the top of a matrix, with two positions directly under them (level 1):
The second level of the matrix is generated by splitting the initial two positions into another positions each. This results in a total of six positions, with the top position “cycling” out of the matrix upon completion (all six positions are filled).
How much of a commission is paid out is determined by what level of the cycler a position cycles out of as follows:
- Matrix 1 (positions cost $25) – pays out $15, generates a new Matrix 1 position and cycles into Matrix 2
- Matrix 2 – pays out $40, generates a new Matrix 2 position and cycles into Matrix 3
- Matrix 3 – pays out $90, generates a new Matrix 3 position and cycles into Matrix 4
- Matrix 4 – pays out $200 and generates a new Matrix 4 position
Note that subsequently generated positions at each matrix tier level pay out differently to initial cycle positions as follows:
- Matrix 1 – pays out $75 and generates a new Matrix 1 position
- Matrix 2 – pays out $150 and generates a new Matrix 2 position
- Matrix 3 – pays out $300 and generates a new Matrix 3 position
- Matrix 4 – pays out $600 and generates a new Matrix 4 position
Ad Pack Investment ROIs
Free Progmatic AdsPaid affiliates are able to invest between $5 to $500, on the promise of an advertised 130% ROI.
Paid Progmatic AdsPaid affiliates earn a higher ROI rate as follows:
- $5 a month membership = 150% ROI
- $10 a month membership = 160% ROI
Joining Progmatic AdsPaid
Affiliate membership with Progmatic AdsPaid is free, however free affiliates can only participate in the Ad Pack investment component of the Progmatic AdsPaid compensation plan.
Paid membership of either $5 or $10 a month is required to purchase matrix positions. Paid Progmatic AdsPaid affiliates also earn a higher ROI on ad pack investments.
With no products being marketed to or sold to retail customers, Progmatic AdsPaid offer up your typical ad-based Ponzi scheme.
The matrix component of the compensation plan sees affiliates purchase positions, with ROIs paid out of subsequent position purchases.
The ad pack component is more of the same, with Progmatic AdsPaid describing ROI generation as follows:
Any time an ad package is purchased on our website, a percentage is set aside to a reserve pool from which all cashback ad packages are paid until they earn a maximum of 160%.
Affiliates are the only ones buying ad packs, so in effect newly invested funds are used to pay off existing investors. That paid affiliates also earn a higher ad pack ROI also introduces a “pay to play” element to the scheme.
Both Ponzi components require a constant stream of new investors to inject funds into the scheme, failing which the scheme collapses.
What happens then?
Well, as per a message on the Progmatic AdsPaid website;
WE HAVE BROKEN THE JINX OF PROGRAM FAILURE WE WILL BE HAVING PERIODIC PROGRAM RESTART
The anonymous admin(s) running the scheme reset everyone’s liability, with the idea that new suckers will think they’re getting in on the ground floor. Those who have already invested might also be enticed to grab what they believe to be a few “initial” matrix positions.
Trouble is you can’t generate money out of thin air, and each restart leaves Progmatic AdsPaid with the same amount of funds to pay out as they had before the restart.
The only difference is Ponzi liabilities are erased, with the funds left used to cover ROIs following the restart. Every restart sees the new injection of funds lessen, requiring restarts to occur more and more frequently.
Given the fake domain registration and Eric Chin Facebook group profiles, there’s also a good chance the Progmatic AdsPaid admin will rort the system with a ton of preloaded ad pack and matrix cycler positions.
They’ll also probably preload the system again each time they trigger a restart.
What this means for you as an investor is, instead of losing your money in one Ponzi collapse, you’ll get to lose it over and over again with each Progmatic AdsPaid restart.