Craigmuir Chambers; 71 Road Town; Tortola, British Virgin Islands. Its CEO is Will Williams and Director of Operations is Flnn McCarthy. Site URL is "summit77.com", created on May 15th, 2013, is set to expire on June 24th, 2014, and its registrar was Robbie Bracco.
CEO Will Williams Summit77 bio states that he was the founder of the On Fire Miracle (a travel package, marketing matrix based MLM program), founder of Go Bid Online (a penny auction MLM program). The funny part of the Go Bid Online program is that fact that still shows ”coming soon” after being online for the last two years, an affiliate in the 2 Plus 7 program (closed down), building homes, and real estate.
How Summit77 Works- Affiliates sign up at either Bronze, Silver, Gold or Platinum level. Bronze –$50 and then $15 a month; Silver –$250 and then $15 a month; Gold –$750 and then $15 a month; and Platinum –$105 a month. Bundled with affiliate memberships are access to a library of educational products and movies. (Bronze membership); Summit 77 Hotel Card (Silver membership); Summit 77 Condo and Summit 77 Cruise cards (Gold membership); and Peak Marketing, auto-responder, Summit Cloud unlimited computer back up software, and the Summit Second Language Learning Series (Platinum membership).
Bronze, Silver, and Gold comp plan--
affiliate 2x2 matrix with positions filled by direct referrals. Bronze affiliate commissions are earned on level two of the matrix, with Bronze affiliates earning $50 per filled level two position, repeat. Silver affiliates matrix commissions are the same as Bronze, plus the first and fourth matrix positions generate a new matrix position giving Silver affiliates an additional $400 once the third matrix level is full, repeat. Gold affiliates matrix commissions are the same as Silver, plus the second and third matrix positions generate a new matrix position giving Silver affiliates an additional $1,350 once the third matrix level is full, repeat.
Platinum comp plan- a 2×14 program forced matrix with positions filled by direct referrals or up line and down line affiliates. $5 commissions are paid per month for each affiliate in a matrix, with the pay out capped at $15,000 per month.
Deposits and withdraws are by PayPal, Solid Trust Pay, and Credit Card (there is no doubt that the PayPal option will be removed after PayPal find out that this is a MLM program).
My Opinion.... I do not like the fact that there is no retail customers and that all the money coming into the program is coming from affiliates paying monthly membership fees. Now this is not a program "killer" for me, but something that must be corrected if the program is expecting to "pass" US government agency review.
With out a real customer program, the program is just "sold" to affiliates as a referral driven pyramid scheme, with a constant flow of new affiliates needed to keep Bronze, Silver, and Gold matrices cycling and generating commissions. Due to the limited market for Summit77 products, there will not be a unlimited pool of people willing to join this program (and NO-ONE will continue to pay $105 a month for just the auto-responder and back up software) and without new referrals entering existing matrices, nobody cycles and the program stalls.
Now the Platinum 2x14 matrix commissions can continue to be paid out, even if new referrals have stopped, as long as current Platinum affiliate continued to pay the $105 a month, however this is unlikely as most Platinum affiliates will not be able to fill enough matrix spots to break even. And as this trickles up the 2x14 matrix, it eventually causes the matrix to collapse.
After checking the "status" of the other MLM programs that the owner is or was involved in (2 Plus 7 & On Fire Miracle) I am now beginning to think that Will Williams could be playing the same "game" that Frederick Mann is now playing. That is launching a new MLM program (Summit77) once their existing program's new referrals sign ups either slows down or stops. Like the other two MLM programs, that Will Williams has been involved in, I believe Summit77 will also slow down and then eventually "shut down" once the recruitment of new referrals has stopped.
With no products that I am interested in I have NO interest in this Summit77 program. Plus I can get a lot more marketing tools for a lot less then $107 a month from programs like 20Now that includes marketing training, auto-responder, Facebook marketer, and webinar software for only $20 a month, MyPIP with free marketing training, Carbonite backup for only $5 per month, or GetResponse auto-responder for only $9.99 per month.
Just My Opinion,