Philip Reitcheck | greentrees

WCM777 Review

Jul 15th 2013 at 3:27 PM
My review of the newly launched WCM777 daily "passive" income MLM program.  This program is claimed to be a social network, with their main aim to "create a trustworthy and common wealth community by integrating social networks, E-commerce, offline marketplace, cloud computing technology and customer loyalty points program". The site states the founder as Dr. Xu Ming and CEO as Liu Zhi. Their URL is "wcm777.com"; created on Nov. 20th, 2012; expires on Nov. 20th, 2019; and was register by World Capital Market.  WCM777 servers are located in Fullerton, CA, USA and Vancouver, Canada.  WCM777 states its address as 1218 John Reed Court, City of Industry, CA 91745 and was launched on June 17th, 2013. The website displays the certificate of incorporation for World Capital Market (which is located in the British Virgin Islands) and there is a lot of information about this company on the WCM777 site, but almost no information about WCM777.  There is no information about if or what state WCM777 is incorporated in, only that it is "legally" registered in the USA. Both Dr. Xu Ming and Liu Zhi lists tons of private equity fund, M&A, and investment banker experience, but no MLM program experience.  Dr. Xu Ming is listed on the WCM777 site as the "founder" of World Capital Market, but in truth was a "co-founder". What is WCM777? They offer the following products. A series of cloud-based services (World Cloud Media 7) that includes file sharing, music, storage, and a Kingdom Card for online shopping (all are still “under construction”).   Membership to WCM777 seems to be free, but members are required to  purchase a affiliate package to earn money.  And here are 5 different affiliate packages as follows:Junior Distributor- $399 (product #WCM701) which includes 300 business volume points (BV).
Supervisor- $799 (product #WCM702) which includes 700 business volume points..
Manager- $1,199 (product #WCM703) which includes 1,100 business volume points .
Senior Manager- $1,599 (product #WCM704) which includes 1,500 business volume points.
Director- $1,999 (product #WCM705) which includes 1,900 business volume points.

The daily "passive" ROI are paid for 100 days per affiliate package purchased and the daily ROI per package are as followers:
Distributor - $4 a day ($400 total) also known as Global Business Bonus.
Supervisor  - $8 a day ($800 total).
Manager - $12 a day ( $1,200 total)
Senior Manager - $16 a day ($1,600 total)
Director – $32 a day ($3,200 total)
In addition to points generated on the purchase of affiliate packages, 20% of all affiliate’s earnings are held by the company “to purchase profit points”.  It is unclear if these "profit points" are to be given back to the affiliates as BV points or if the program going to keep this money (profit points) on the promise of a later public float of the company.

Referral commissions are as follows:
Distributor- 20% on first level affiliates and 1% on the second level affiliates up to 6th level.
Supervisor-20% on first level affiliates and 1.5% on the second level affiliates up to 6th level.
Manager- 20% on first level affiliates and 2.0% on the second level affiliates up to 6th level.
Senior Manager- 20% on first level affiliates and 2.5% on the second level affiliates up to 6th level.
Directors- 20% on first level affiliates and 3.0% on the second level affiliates up to 6th level. Other commission bonuses include Level Differential Bonus where affiliates can earn an extra referral commission bonus when an affiliate's referral purchases additional affiliate packages. 2X2 binary matrix commissions which are paid when 360 BV is matched up between your two binary sides, with the affiliate at the top earning a $20 binary commission.  Binary commissions are calculated daily and capped at $10,000. A 2X15 package matrix, which is filled by the total number of company packages that your down line have purchased which is paid 7 levels deep for Distributors, up to 15 levels deep for Directors and pays a one time $6 per package purchased. A 3X7 Global company matrix including all purchased packages and pays a one time $7 for each added purchased package. The first thing I have noticed about the above comp plan is that VERY LITTLE money can be earned by affiliates, unless you are either willing to invest $2,000+ or you are willing to get referrals. My Opinion....... First I just do not know why WCM777 even lists their WCM7 cloud services on their affiliate site, as there is no doubt that affiliates are not joining to get access to the cloud products services.  This is because WCM777 is promoting affiliates to both purchase additional packages and re-investing in additional packages. Why would a affiliate purchase more than one package just to get the same WCM7 cloud services over and over?  Answer, the only reason to purchase additional packages is to earn additional commissions.  Because of this, the comp plan pretty much looks like your typical Ponzi scheme, with affiliates putting in more and more money, to try and get out even more and more money.  Just look at the comp plan, affiliates  purchase different packages, to get access to non-existing cloud services, to get paid a daily passive income, and earn additional commissions and bonuses, if they recruit other new affiliates. Another RED FLAG is that fact that there is no business at their listed address (1218 John Reed Court, City of Industry, CA).   I have a inkjet cartridge supplier (that I purchase from) that is located less that 1/2 mile from this address and I had them (Aileen) check out this address for me.  She total me that there was NO such address, in fact this address is in the middle of a street between two buildings.  Even USPS will not accept this address for letter delivery.  And that not all, the phone number listed on web site is for a La Puente, CA address, that is located 2+ miles away from the City of Industry address. It looks to me as if the WCM777 website is just attempting to pass off the legitimacy of World Capital Market Inc. to somehow legitimizing WCM777.  I also think that the fact that WCM777 has registered themselves with the US SEC is also VERY unlikely.  Remember just because the URL register shows World Capital Market and the site has a lot of World Capital Market information, does not means that it is directly connected to the "real" World Capital Market company. In fact there is no real proof that Dr. Xu Ming and  Liu Zhi are even connected to this program, as their site pictures have been directly copied from the World Capital Market site.  Also I fail to see how WCM7 products (file sharing, music, storage, and Kingdom Card for online shopping) are connected to what the stated program owners expertise is in (private equity fund, M&A, and investment banker).  If you can tell me why the stated program founder and its CEO would be consider experts in these cloud products, I would be very interested. Unless you have money "burning" a hole in your pocket, I would advise you to take a LONG wait and see approach to this program.  A lot in this program "smells" to high heaven.  If you are a non-USA resident, I would suggest you invest this money into a "passive, long-term, stable" program like Uinvest.  And if you are a USA resident, well  the only "passive, long-term, stable" investment program for you are either bonds or the bank. Just My Opinion, Philip Reitcheck greentreesmlm@gmail.com
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