Though you gained’t discover press-releases from the MLM spam machine right here on BehindMLM, that doesn’t imply I don’t regulate issues.
Earlier in the present day a narrative on BusinessForHome caught my consideration: Vyvo indicators $88 million letter of intent with Helo Corp.
Helo Corp? Isn’t that additionally certainly one of Vyvo proprietor Fabio Galdi’s corporations? Lulwut?
As per BusinessForHome’s protection;
Vyvo Inc. in the present day introduced that it has signed a Letter of Intent efficient thirty first January, 2020, with a US public listed firm, Helo Corp. confirming its $88 million acquisition of sure strategic belongings from Vyvo Inc. in order that it might probably deliver the VYVO enterprise right into a public firm.
Alright, so we all know Vyvo = Fabio Galdi. What’s the take care of Helo Corp?
As an alternative of simply working one firm, Helo Corp was a part of Galdi’s Wor(l)d Worldwide MLM alternative.
In a nutshell Helo Corp offered Wor(l)d World Community with its Helo bands, with Galdi proudly owning each corporations. The precise provider of the Helo units is High quality Expertise Industrial Co., Ltd, a Chinese language manufacturing firm.
Fortunately, as BusinessForHome level out, Helo Corp is publicly listed – which means we are able to search for its public SEC filings.
Galdi (proper) based Helo Corp in 2010. Solely again then it was referred to as Halton Common Manufacturers and had nothing to do with MLM.
The Firm was initially a brokerage, consulting and advertising agency specializing in model consulting and new product technique consulting for rising manufacturers.
The Firm centered on pure meals merchandise, specialty meals merchandise, and mass-market grocery gadgets that have been manufactured in North America and sought new market penetration in Japanese Europe.
In October 2014 World Assurance Group, one other firm successfully owned by Galdi, purchased a bunch of Halton Common Manufacturers shares.
In November 2014 Galdi, by means of World Assurance Group, renamed Halton Common Manufacturers to World Media & Expertise Corp.
What was left of Halton was acquired by World Assurance Group in December 2014.
Halton’s acquisition netted World Assurance Group $54 in web belongings on the time.
This was the World Cellular Community period, which then grew to become the Wor(l)d Worldwide period, which final yr grew to become the Vyvo period.
Confused but? Don’t fear, it will get worse.
World Media & Expertise Corp. was renamed World Expertise Corp in December 2017.
In October 2018 the corporate was once more renamed to Helo Corp.
Right here’s a complicated rundown of how Fabio and Gabriele Galdi basically personal Helo Corp and Vyvo (observe that that is from a February 2019 submitting, WGN is now Helo).
Mr. Fabio Galdi, our Chairman of the Board and Chief Expertise Officer, and his brother Gabriele Galdi, every presently personal 50% of WGN.
Till Could 2017, Fabio Galdi was the Chief Govt Officer of our firm, and presently he serves because the Chief Govt Officer of WGN. Gabriele Galdi can also be the proprietor of fifty% of the excellent fairness of WGH, our largest stockholder and an affiliate of WGN.
The remaining 50% of WGH is owned by Alfonso Galdi, the brother of Fabio Galdi and Gabriele Galdi, who owns 28% of WGH, and Alessandro Senatore, a director of our firm, who owns 22% of WGH.
At the moment, WGH, WGN and their associates collectively personal roughly 74% of our excellent frequent inventory.
Obtained a headache but? I positive do.
Mainly Fabio and Gabriele Galdi personal 74% of Helo Corp and, so far as I can inform, personal or are the bulk house owners of Vyvo.
So what on Earth is that this nonsense about Fabio Galdi signing an $88 million greenback settlement with himself?
Sadly Helo Corp hasn’t filed an annual report since August 2015. Sure, that was 4 and a half years in the past.
The corporate’s final quarterly monetary report was filed in March 2016.
That report reveals Helo Corp (then World Media & Expertise Group) misplaced $1.3 million for the quarter ending September 2015. The corporate was on monitor to lose effectively over $3 million for the monetary yr ($2.8 million as of September 2015).
Later that very same month Helo Corp suggested the SEC it was going to overlook its annual report deadline.
The said motive for Helo Corp’s incapacity to satisfy SEC submitting necessities was
a small accounting workers which has devoted substantial effort and time to latest enterprise issues affecting the Registrant (Helo Corp), and consequently, the attorneys and accountants couldn’t full the required authorized info and monetary statements.
In October 2016 Helo Corp knowledgeable the SEC it was suspending its obligation to file studies.
The 2 guidelines cited in help of this discover have been Rule 12g-4(a)(1) and Rule 15d-6.
I’ve gone over each Rule 12g-4(a)(1) and Rule 15d-6, and might’t make heads or tails over what both rule has to do with Helo Corp failing to file monetary studies.
Anyway, Helo Corp hasn’t filed any monetary studies with the SEC since March 2016, virtually three years in the past.
In February 2018 the corporate filed a registration assertion declaring intent to promote World Expertise Corp shares to the general public.
Citing “unfavorable market situations”, the registration assertion was withdrawn a yr later in April 2019.
Helo Corp has not made any filings with the SEC since then.
Quick ahead to in the present day, and Fabio Galdi has introduced Vyvo’s intent to purchase Helo Corp for $88 million {dollars}.
To recap:
- Fabio Galdi and his brother Gabriele Galdi successfully personal or personal the overwhelming majority of Helo Corp and Vyvo
- Helo Corp was shedding tens of millions of {dollars} a yr as of its final monetary report in 2016
But right here now we have BusinessForHome dutifully reporting Galdi’s intent to accumulate his personal firm for $88 million.
Mr Galdi additionally confirmed that Helo Corp. will proceed to function beneath the HLOC ticker till it might probably change its title to VYVO and replace its ticker image.
All Galdi has to do is inform the SEC he’s altering Helo Corp’s title to Vyvo. That’s it. The meant $88 million greenback acquisition announcement is pure advertising nonsense.
Critically Ted, why is that this even information? Oh, proper.
One last item I need to end up with, I seen on Vyvo’s web site they’re now promoting a VYVO token.
VYVO Token is an ERC-20 token on the Ethereum Blockchain.
It’s carried out to create an information streaming system primarily based on private Well being and Wellness biodata captured immediately from VYVO wearable units in real-time.
Now we have giant anonymized datasets which might be gathered from all VYVO units.
These datasets current extremely actionable and interpretable info that might have an effect on how we strategy well being, wellness, and self-care.
Just lately, now we have been receiving large consideration amongst events, with inquiries and want to buy the anonymized knowledge, from pharmaceutical corporations to a mess of well being establishments.
Promoting your prospects’ private well being knowledge. Good.
In change for this, naturally Vyvo associates and retail prospects are rewarded with VYVO tokens.
All it’s a must to do is purchase certainly one of Vyvo’s Vista units. Put on it and Vyvo provides you with VYVO tokens, which you’ll be able to then money out through the corporate’s inner change.
Supposedly withdrawal requests are paid through income generated by Vyvo’s efforts to promote knowledge to third-parties. No less than that’s what they’re telling their associates and retail prospects.
Sounds a bit like a passive funding alternative to me. So how lengthy is all of this going to go unreported to the SEC?