Oceanside Wealth Builders

[Yuliya Mironova]

Thanks for your reply. I don't disagree at all with much of what you say.

Originally Posted by RetiredAt40

Unfortunately, it's not my problem if anyone enthusiastically promoted anything.

No; I accept that. Unfortunately it was their problem, and their credibility that's become so damaged as a result.

Originally Posted by RetiredAt40

Did they take the time to research the company?

My guess is that many didn't, at all. And habitually don't. And are surprised all over again and imagine that they've been unlucky every time something like this happens to them. Certainly some of the ones who tried to withdraw from this one and have been repeatedly promised refunds over the last 2 or 3 months (which never materialised, of course) tell me they didn't really do any due diligence at all. But I see some of them still apparently having learned nothing and merrily posting away about their next brand-new, not-yet-launched opportunity that they have "people waiting for"! [img]smileys/smiley11.gif[/img]

Originally Posted by RetiredAt40

Did they know the risks involved?

Some were offered information about that but chose to reject it, or to disbelieve it. Some probably still imagine that they were right to do that, too. Not your problem, I acknowledge, nor mine either. But still not anything to be happy about, especially for those of us working at the entirely legitimate end of an industry with a reputation increasingly tarnished by these apparently ineducable people. [img]smileys/smiley7.gif[/img]

Originally Posted by RetiredAt40

Did they invest more than they could afford to lose?

Again, I don't know. I actually suspect that people didn't, in this one. (Unlike some of the others I've tried to draw attention to recently.)

Originally Posted by RetiredAt40

I didn't make any money in OW. I think very few people did (if any).

I think that, too; but I probably know less about the details than you do.

I appreciate your other points. I'd just like to mention that in physical product-based MLM companies of the type you're discussing above, nobody gets paid for recruiting either: that's not legal. And some of the most successful companies don't have "autoship" either, and nobody's making product purchases other than purely voluntarily.

Originally Posted by RetiredAt40

I've never recruited a single soul in any of them.

I think that's very wise, when you look at some of the legalities involved in doing so. Especially the "offshore investment" ones if you're not a licensed financial or trading advisor. Traditionally, in these things, the owners try to protect themselves from US regulatory and legal agencies and the IRS by incorporating offshore, leaving those people who've promoted them inside the US to face the music on that score.

Originally Posted by RetiredAt40

And who pocketed a bonus for recruiting that person who was so desperate for a home business?

Nobody did, in companies that are being legally run: recruitment bonuses aren't legal (not in Northern America or Europe, anyway): commission payments are made only with regard to products sold.

[RetiredAt40]

Fair enough [img]smileys/smiley1.gif[/img]

But just to elaborate a little on the physical product-based MLM's that so many are recruiting for on this board.....

They wouldn't be recruiting if there wasn't an incentive to do so. Whether it's a fast start bonus (paid out by the new member's enrollment fee or autoship) or commissions on their future purchases. My point was, don't disregard these MLM's as people not losing out in them and someone above them making money from their loss (even if only temporary) when the 'recruitee' (who was so desperate for a home based business) realizes no one is buying what they're selling and drops out.

It bothers me when people say things like "you made (or are making) money from someone else's loss" when in reality it's the MLM's that this statement is true of not the investment opps.

If I had recruited 100 people into OW and it had operated the way it was supposed to, my earnings would have never come from someone's loss. If they earn, I earned a percentage of that. If they didn't earn, that means I didn't either. Where, unlike the physical product-based MLMs, you earn whether the people under you are earning or not...as long as they keep buying and/or paying. Someone is definitely losing in that scenario. [img]smileys/smiley5.gif[/img]

By the way, great discussion.

[Adrianne]

From what I've read in the past, the "I told you so" was in reference to the SEC or Fed govt coming in to shut the entire operation down and prosecuting the members for being involved, particularly the USA based members. Uhhh, so far none of that happend. The company is still operational; they just lost a few key players...first Broker pulled out, later followed by JD.

Closing their doors to new memberships is probably the best decision OW has made since they opened. Maybe they can regroup, and maybe they cannot. If they go under, I highly doubt it will be due to anyone stepping in to shut them down. My guess is that it will be due to poor management. Either way, only time will tell.

[Yuliya Mironova]

Originally Posted by Adrianne

Closing their doors to new memberships is probably the best decision OW has made since they opened.

There's something we can all agree about.

Originally Posted by Adrianne

If they go under, I highly doubt it will be due to anyone stepping in to shut them down.

Indeed: their evident repeated mismanagement, obvious (and even admitted) lack of adequate legal advice in the early stages, and clear lack of professionalism has apparently made it pretty unlikely for them to survive long enough for that to happen anyway.

Originally Posted by RetiredAt40

If I had recruited 100 people into OW and it had operated the way it was supposed to, my earnings would have never come from someone's loss.

Thanks - yes, I accept that: my contention is simply that (exactly as was true for ASD and Megalido too, and as I said in the earliest stages of each of these "opportunities" too) they were never going to operate the way they were "supposed to", and if only people did even the most rudimentary due diligence and/or had even the most rudimentary historical understanding of the terrain involved here, they would rapidly have been able to see that for themselves.

[blergas]

Originally Posted by Fearless Kid

I was waiting for "it", as well [img]smileys/smiley36.gif[/img]* It always seems to be someone from the "other website".
*
There were some major management issues, and now that it's cleared up, they should be launching sometime in the Spring under a different name.* The forex portion will stay as-is; it never went away.*
*
The new management*will be doing things the right way, and make sure everything is in perfect condition before launch.

If the new management includes broker jones I wouldn't go near it.

[Fearless Kid]

Originally Posted by blergas

If the new management includes broker jones I wouldn't go near it.

Good first post there, buddy. Care to give us a little more on your comment?

[blergas]

I don't trust him at all. broker jones = GREED

[RetiredAt40]

The structure of Oceanside Wealth v 2.0 has been released. I don't think I'll include myself in this one. Please post your thoughts on the following:

(please take note of the text in "red" as I feel this benefits Broker more than anyone. Unless of course you feel his training and mentoring is worth $160 per month)

---------------------------------

I am both pleased and extremely excited to show to you, Version 2.0:

We have broken the company and the progression of wealth that one will acquire into four categories or Tiers if you will.

The purpose of these Categories is to allow people to enter the TEAM and begin using the Forex system based on their own level of income, as well as give them the ability to build a diversified portfolio of income streams both inside and outside of the Forex machine. This system has been designed to benefit both the large and small investor and both the Aggressive and the Passive Team Builders and Leaders.

Whatever your goals are financially. You can achieve them here. If you only want to earn $1000 per month to help pay some bills and increase your quality of life. Our category 1 at $10/month membership fee is just what the doctor ordered. If you want to become a Millionaire as fast as possible……we have the full system at your disposal.

Here is how it works:

Category 1 will most likely consist of a small MLM company that utilizes a 5x7 matrix and the membership fee is only $10/month. Entering this company through our sign up link (Or the sign up link from someone already on the team) will give you immediate membership in our Team and access to the Forex system. In this category you will be able to cash out up to $1,000 per month. If you wish to cash out more than this amount per month as your account grows, then you will be required to join Category 2.

In Category 2 we will find either 1 or 2 MLM companies that can cover World Wide access and the monthly membership fee will probably be around 40-60$ per month. In this category you now have the option to build a second team, earning yet another income stream. Not only will you earn on your downline in company 1, but now you will begin generating and earning off of your downline in the Category 2 company which will be officially named closer to launch. In this category you will be able to cash out up to $5,000 each month from your Forex account. Since you were already at the level of cashing out $1,000 per month, this extra 40-60$ monthly autoship will not affect you, and at the level of $5,000 per month cash outs, you are now experiencing what most will consider “life changing” income. (The products for this category will most likely be Educational and or Training and I have a company in mind that may place our Team at the very top of the company!)

Now some members right now are thinking “how will I keep track of my downlines that I build from one Category to the next? What if someone I sponsor progresses through the Categories faster than me because they build up a bigger Forex account than I do?”

The answer to that is both simple and complex. The simple answer is that if someone you personally sponsors builds a larger Forex account than you….well……you are earning 5% of their monthly profits…..each….and every month……so if they are withdrawing $1,000 every month…..you earn $50/month just off their Forex account……so it’s easy for you to join Category 2 even if your Forex account isn’t large enough, so that you can keep your team together. The complex answer is that….it will take a little bit of coordination from you as a Team Leader with your downline to move “together” through the categories, and on our weekly webinars and training calls I will help all Team Leaders with tips and strategies to keep a growing team together.

Category 3 EIRO Research & The International Company with Autoships of approximately $140 per month which will be easily affordable with your level of income from either your growing downlines or your Forex account. Our Leadership team will have already been in place. The power of the entire growing company will fall in below these leaders. Those of you jumping on board the team now will reap not only top positioning in Category 1, but as ALL teams upgrade to Category 3…..they will join BELOW you. At this level you will be able to cash out up to $20,000 per month. You will be able to fire your boss, buy your dream home, drive any car you like, and you will have achieved the holy grail of Time Freedom.

Category 4 – To be determined. I’m thinking it will be one of those big ticket companies like WMI or something. The cost won’t really matter. This category will allow you to withdraw unlimited income each and every month from your Forex system.

In addition to utilizing and leveraging the existing systems of other MLM companies, we will have our own backoffice. However our backoffice will only have 2 jobs to do:

1. Monitor your Forex account and it’s growth on a monthly basis. In the beginning your accounts will compound only monthly. As the companies account grows larger Mac has told me it will begin to compound more frequently and possibly even daily at some point in the future. The backoffice will manage this and you will see real time growth in your own Forex account.

2. Our backoffice will keep track of who YOUR personally sponsored members are, and show you a running tally of your earnings on 5% of their profits each month.

3. There will also be news updates and links to all of our upcoming webinars, events, conventions, cruises….vacations…etc!

IN Addition to your earnings from your growing downlines in all Categories. In addition to your growing Forex accounts, and your 5% earnings on your personally sponsored team members profits each month. We will be doing our own prizes and rewards ranging from Yearly Executive Vacations, to Automobiles of your choice. As you progress through the categories, we realize it benefits us too, and we’ll be passing on large bonuses and REAL rewards to our active team builders. (I will have to sit down with a calculator and put some real thought into this before I can tell you which prizes will come when. I can tell you right now there will be a yearly all expense paid vacation where our top leaders will get to come spend time with all of us on a luxury based destination.)

As you examine this system, I’m sure you will be coming up with questions which I will be happy to answer on our Live Team Forums and if you are not already a member, you can follow the link on this screen to take you there.

This system will be More Accessible for our passive members who were having troubles with the $60/month membership fee and allow them to almost immediately get into profit with only a 10$ membership fee plus our Forex system. You don’t have to recruit to make money here, and at $10/month you can put most of your hard earned money into Forex rather than having to pay a larger membership fee! This system will be more rewarding for our active builders. Not only can you leverage your team in one downline…..you can grow your team in multiple downlines. Diversifying……Increasing….and Protecting your income.

We have already established relationships with these companies, and they are THRILLED to have us on board, in fact most of them are offering us some really nice incentives to join them and work our system.

On a Legal and Corporate structure side of things, we are addressing the flaws from Oceanside Wealth. We are looking into a simpler ability to Wire Funds into the Forex system. (We are doing our best in that arena but the Patriot Act has made things more difficult.) We are aware of the SEC and FTC regulations on American citizens about “pooling funds” and we have several structures and options on the table that will satisfy both regulatory agencies, and we will also be consulting with both an MLM Attorney and an International Attorney to look over our model once we have decided the best route to take.

I hope you have enjoyed this presentation and undoubtedly you will have questions.

Hopefully by now you can see why and how I am building my personal Leadership Team and why it is an advantage for those of you who are planning to be Team Builders to get started with me either in EIRO or the International company right now. The reason I selected Category 3 to build a team of Leaders is because while I feel $10/month is GREAT for all members to get started earning in the Forex system, it is not so great for finding out who is “committed” to becoming a Leader and really setting the foundation of success for this entire company.

Those who are jumping on board my team now by either joining EIRO or the International company which will be listed shortly on the forum, will have the following benefits:

*I will personally work with you to design your entire marketing system. Whether you want to work with me on the phone, over Instant Messenger, through Emails or even on the forum itself is your choice. I will make myself available to you.

*After we design it. I will teach you to use it to get results. It doesn’t really matter if we build the best system on Earth if no one shows you how to get traffic into and through your system.

*We will have weekly Leadership webinars, where we discuss all things pertaining to Networking and building your team. We will have guest speakers and we will cover everything from warm market to cold market, from online to offline…from conventional to guerilla marketing. We will network with each other and build relationships around the globe.

*Our Leaders will be at the TOP of Category 3 long before Version 2.0 even launches. And when it does launch, you will be hand selected and placed at the top of Category 1, and if you have build teams in Category 3 prior to launch……they will go with you in Category 1 as well. On the day of launch…..you will already have 2 growing downlines.

I am simply looking for the motivated and the willing. Whether you are a total beginner to Networking or whether you are a Heavy Hitter that’s more successful than I am, there is a tremendous opportunity here for you. Knowledge can be taught, success is a skill, and building a team and becoming a Leader is as simple as being willing to Learn and Do consistently. </font>

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End of presentation.

[Yuliya Mironova]

Originally Posted by RetiredAt40

I don't think I'll include myself in this one.

Very well judged.

Originally Posted by RetiredAt40

Please post your thoughts on the following: .........

To join anything "new" and without a track record at any time, especially in this economic climate, is a pretty surefire recipe for an accident. To join something with a track-record of recent business failure (including, by their own admission, failure to take adequate legal advice before starting) would be lunacy, IMHO.

Originally Posted by RetiredAt40

(please take note of the text in "red" as I feel this benefits Broker more than anyone. Unless of course you feel his training and mentoring is worth $160 per month)

No surprise there. That fits in just perfectly with what I read about this situation in several other forums (links available on request).