In a current official R Community advertising video, a “frequent inventory possession” scheme was pitched to potential associates.
Neither R Community or their executives are registered with the SEC, which means the supply constitutes securities fraud.
The advertising video in query is a part of R Community’s present “90 day consciousness marketing campaign” promotion.
The video is hosted by R Community Grasp Distributor Jon Holbrook and Jeremy Jenkins, “the primary individual” Holbrook enrolled.
R Community first got here to BehindMLM’s consideration in April 2019. Again then Founder Richard Smith was pitching RevvCard, a debt card that, to the perfect of my information, by no means launched.
RevvCard seems to have been quietly dropped and now R Community is advertising an ecommerce platform.
Associates pay $25 after which $50 a month on subscription. Commissions are paid once they recruit others who do the identical by way of a 3×10 matrix.
Combined in a free membership choices, constituting R Community’s retail providing. Primarily based on the tone of Holbrook’s and Jenkin’s presentation nevertheless, the cash is in recruitment.
Round twenty-five minutes into the presentation Jenkins pulls up a slide detailing “frequent inventory possession”.
As per the screenshot above, R Community associates qualify for frequent inventory possession by recruiting ten associates by June thirtieth.
As defined by Jenkins, frequent inventory possession is obtainable on the illustration R Community shall be “going public in late 2020”.
[24:55] We’re going public this 12 months in 2020. And we’ve obtained a promotion going.
For all those that have personally enrolled ten folks there’s a inventory bundle for you.
It’s a thousand shares and we’ve prolonged it as a result of we wish to make sure that any(one) can take part.
If by the top of July you will have enrolled ten folks, you’re going to get that inventory bundle.
Placing apart whether or not R Community does or doesn’t go public by the top of 2020, if the corporate is awarding associates inventory now that’s a public securities providing.
As I said at first of this text, neither R Community, R Internet Holdings, founder Richard Smith or presenters Jon Holbrook or Jeremy Jenkins are registered with the SEC.
Meaning no matter the rest, R Community is committing securities fraud.
Jenkins mentions R Community’s inventory possession scheme has “been prolonged”, suggesting its been accessible for a while.
The video cited on this article was uploaded to Jeremy Jenkins’ YouTube channel on June tenth, 2020.
R Community is predicated out of Utah. Whether or not the SEC takes any motion in opposition to the corporate stays to be seen.
Replace nineteenth March 2021 – As of March 2021, R Community has successfully been merged into iX International.
Replace twenty fourth March 2021 – Jeremy Jenkins has eliminated the YouTube video cited on this article from his channel.