Monday, July 15, 2013

WCM777 Review


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 ZhiTheir 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


 

31 comments:

  1. i couldn't agree more, great info. thank you.

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  2. what i like of this program is they claim to be a christian program and they have business in the
    cloud. but 2,000 thousand dollars is two much money to try to get people to start or enter in to the program. compare this to another similar program better living glove marketing to witch i can see they trying to copy except the biding side if you compare both the compensation seem similar but 2000 dollar is too much to get the same result and everything seem that you have to wait for the future to get in the clouds and when you copy something it never better than the original. they try to get me into this 777 program and when i told them that i was in better living they told i have to diversified so if mine fell i can still hang to the clouds rafy sierra from puerto rico

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  3. the only way you get a Kingdom Card is if you give your life to Jesus

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  4. WCM777 is in the acquisition of businesses. Both Founder and CEO have much experience in this area. That's what WCM does. They are developing a company namely WCM7 which deals with cloud computing. When WCM7 mature they will bring it to the stock market. As a business incubator, WCM777 will then acquire and nurture another promising company.

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  6. The facts are I have spoken with both Dr. Phil Ming Xu and Tiger Zhi Liu. They work with WCM777. Dr. Phil Ming Xu is also president of World Capital Market. I know many people that have met both gentlemen at their headquarters that you say doesn't exist. I have pictures at that location. When it comes to cloud products, The $2,000 is not just for the cloud product, which is a good deal for unlimited data for 5 years along with the other 6 features. Affiliates are also entering into a profit sharing and private stock offering. Do you really think Siemens would enter into an agreement with a company that's a scam? I don't think so. They will do more due diligence with their legal team than all of us could afford to do. I have had a wonderful experience with this company. The cloud product saved my business when my external hard drive crashed. Kingdom Card merchant services training starts this week. I strongly suggest you speak with Dr. Phil Ming Xu like I did. After speaking with him you will discover the financial backing of WCM777 and how they can pay the amount listed on their comp plan. They have a great business plan in place. I just hate when people make comments without knowing all the facts. Call the Phil and Tiger and you get the facts and not slander the opportunity. I got the facts directly from each of them.

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    3. Steve: By their own admission, their headquarters are no longer in the U.S. They've moved to HK. They have not made any secret of it.

      Their legal team's due diligence is pointless ("Better call Saul!")

      There's no evidence that the "cloud services" exist.

      Siemens Press Office has stated repeatedly that they have no business relationship with WCM777.

      Ponzis can often pay returns so long as big investors keep joining.

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  7. hello, Could u explaint me the WCM777 is trust or scam program please?

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  8. I say it is an excellent program. I have been getting paid quite well, the Kingdom Card is active, merchants and non-affiliates can get this card, the market place is up and running for online shopping, the cloud product is amazing, you can visit their office, they have live support, they entered into an agreement with Siemens in November 2012. Some people are talking negative, but what I see and I have learned directly from Dr. Phil Ming Xu says enough in regards to his vision. He is a genuine person and a very successful businessman. This is a real business and I just think others are afraid of losing their downline to WCM777.

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    2. I say it smells an awful lot like excrement around here. Hm..?

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    3. This one has got me a little more riled than usual because he's using all this religious mumbo-jumbo to scam people of faith. I mean, "Kingdom Card"? Really? It's somehow both humorous and vile.

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  9. LOL THIS MIGHT JUST BE A FANCY hyip TRYING TO BE A WANNA BE NETWORK/INTERNET MARKETING PROGRAM. IT SEEMS INTERESTING BUT ALSO RISKY. I UES TO DO THESE TYPES ON PROGRAMS AND IV LEARNED MY LESSON. HERES A REAL INTERNET WMARKETING PROGRAM HTTP://EXTRAMONEY1.WEBS.COM

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  10. Wall Street Journal Press Release http://online.wsj.com/article/PR-CO-20130919-906289.html.

    Yes there is a building. Yes there is a cloud product. This company is going to set financial history. It's time to stop the trash talk and realize WCM777 is it. The president has a great track record and he will be building on that record in a very positive way.

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    1. Global Payout paid for that press release. It says at the bottom: "The Wall Street Journal news department was not involved in the creation of this content." By the way, this is what the Presidential Champion Award is: https://www.presidentschallenge.org/celebrate/presidential-champions/index.shtml. Anybody else remember that from P.E.?

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  11. I MAKE MONEY WITH WCM777 HERE IN FLORIDA!

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  12. WCM777 is a great company and I am enjoying the ride!

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  13. Why did you remove one of Steve Hoffman's reply to your blog. Is there something that you don't want other people to know about.

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    Replies
    1. I did not remove Steve Hoffman's comment, he deleted it.

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  14. Hey Philip...when was the last time you got paid from Banners Broker?

    I know for me it's been 6 months and I have over $3000 pending withdraws.

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  15. Do you want to make business online and have no risk? Try SFI. You can start for free and develop a true online work to make money.

    http://www.sfi4.com/13294575/FREE

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  16. F'in pyramid schemes. Can't stand you people. Disgusting.

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  17. Keep bitching while we keep collecting. Join my team.

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  18. Mr Al * Not one person has lost* money in wcm777 that I know. Your commet ( its scam I lost over 5k) it's incredulous. I have been with the company since May 2013 and not one person has lost money that I am aware of. people are very quick to post meaninless comments or 6 word negative sentences* with no facts. Because, they clearly do not understand the model. I respect other's people opinions but, please do your research people.

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  19. Replies
    1. If by "great" you mean "a cult", then we're in total agreement.

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