NovaTech offers no info on their web site about who owns or runs the enterprise.
NovaTech’s web site area (“novatechfx.io”) was registered on June seventeenth, 2019.
NovaTech LTD is listed because the proprietor, by what seems to be a bogus incomplete handle (Vatican Metropolis).
On its web site NovaTech claims to be “registered within the USA, British Virgin Islands and Estonia”.
No particular particulars are offered which, when mixed with the bogus area, leads me to imagine these claims are false.
Replace eleventh July 2021 – NovaTech has deserted their .io area, it now redirects to “novatechfx.com”.
A web page on that web site has the slug “from the CEO”. On the web page Cynthia Petion, styling herself as a reverend, speaks about NovaTech within the possessive.
Once we developed NovaTech, Ltd., we selected two issues:
First, we resolved that our program can be reasonably priced to hitch and out there to anybody who needed to take part.
Second, we dedicated to offering folks with the instruments and abilities coaching they should be profitable.
Cynthia and her husband Eddy Petion are identified to BehindMLM as prime earners within the AWS Mining Ponzi scheme.
BehindMLM reviewed AWS Mining in September 2018. Eddy Petion confirmed up within the evaluation feedback to defend the Ponzi scheme.
AWS Mining collapsed in April 2019. NovaTech popped up on our radar a couple of months later.
It appears the Petion’s launched NovaTech as a reboot Ponzi. Reasonably than simply be prime net-winners although, by NovaTech they maintain extra money as firm homeowners.
Leaning into faith, Cynthia Petion is advertising herself as “The Reverend CEO”.
Eddy Petion, who served as AWS Mining’s govt President, cites himself as NovaTech’s Chief Working Officer.
The Petions are believed to function out of New York within the US. /finish replace
As all the time, if an MLM firm shouldn’t be brazenly upfront about who’s working or owns it, assume lengthy and laborious about becoming a member of and/or handing over any cash.
NovaTech’s Merchandise
NovaTech has no retailable services or products, with associates solely in a position to market NovaTech affiliate membership itself.
Replace thirteenth March 2021 – Since publication of this evaluation NovaTech has launched pseudo-compliance retail funding tiers:
- Builder Bundle – $99-$499
- Bronze Bundle – $500 to $2499
- Silver Bundle – $2500 to $4999
- Gold Bundle – $5000 to $9999
- Platinum Bundle – $10,000 to $24,000
- VIP Bundle – $25,000 to $99,999
- President Bundle – $100,000+
Builder to Platinum packages carry a $25 a month “service charge”.
I’ve marked this as pseudo-compliance as a result of there it prices precisely the identical to enroll as an affiliate with the Packages. /finish replace
NovaTech’s Compensation Plan
NovaTech associates make investments funds on the expectation of an marketed variable return.
- Builder – $99 to $499
- Bronze – $500 to $2499
- Silver – $2500 to $4999
- Gold – $5000 to $9999
- Platinum – $10,000 to $24,999
- VIP – $25,000 to $99,999
- President – $100,000+
Builder to Platinum packages entice a further $25 a month “service charge”.
NovaTech fails to reveal ROI charges however does state VIP tier associates will earn 1% a month greater than everybody else.
Withdrawal charges for every NovaTech funding tier are as follows:
- Bronze – 35%
- Silver by Platinum – 30%
- VIP – 25%
NovaTech Affiliate Ranks
There are 5 affiliate ranks inside NovaTech’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Affiliate – enroll as a NovaTech affiliate and make investments
- Junior Government – make investments at the least $2500, recruit three Associates and generate $50,000 in downline funding quantity
- Government – make investments at the least $5000, recruit two Junior Executives and generate $500,000 in downline funding quantity
- Senior Government – make investments at the least $10,000, recruit two Executives and generate $2,000,000 in downline funding quantity
- Director – make investments at the least $50,000, recruit two Senior Executives and generate $10,000,000 in downline funding quantity
- Ambassador – make investments at the least $100,000, recruit two Administrators and generate $50,000,000 in downline funding quantity
Word that as much as Government not more than 50% of required downline funding quantity can come from anyone unilevel staff leg.
This share is decreased to 40% from Senior Government.
Recruitment & Retail Commissions
NovaTech pays associates to recruit new affiliate buyers and refer retail prospects:
- recruit a brand new Bronze tier affiliate or retail buyer and earn $50
- recruit a brand new Silver tier affiliate or retail buyer and earn $100
- recruit a brand new Gold tier affiliate or retail buyer and earn $150
- recruit a brand new Platinum tier affiliate or retail buyer sand earn $200
- recruit a brand new VIP tier affiliate or retail buyer and earn $250
If a brand new NovaTech affiliate recruits three Bronze tier associates inside 45 days of signing up, they earn a $100 Quick Begin Bonus.
If a brand new NovaTech affiliate recruits 5 Silver tier associates inside 45 days of signing up, they earn a $300 Quick Begin Bonus.
ROI Match Bonus
NovaTech pays a ROI Match Bonus by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel staff, with each personally recruited affiliate positioned straight beneath them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel staff.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
NovaTech caps the ROI Match Bonus at 5 unilevel staff ranges.
The ROI Match Bonus is paid out a share of returns paid to unilevel staff associates throughout these 5 ranges as follows:
- Associates earn a 5% ROI Match Bonus on stage 1 (personally recruited associates)
- Junior Executives earn a 5% ROI Match Bonus on stage 1 and a pair of% on stage 2
- Executives earn a 5% ROI Match Bonus on stage 1, 2% on stage 2 and 1% on stage 3
- Senior Executives earn a 5% ROI Match Bonus on stage 1, 2% on stage 2 and 1% on ranges 3 and 4
- Administrators and better earn a 5% ROI Match Bonus on stage 1, 2% on ranges 2 and 1% on ranges 3 to five
Rank Achievement Bonus
Nova Tech rewards associates for qualifying at Junior Government and better with the next Rank Achievement Bonuses:
- qualify as a Junior Government and obtain $500
- qualify as an Government and obtain $2000
- qualify as a Senior Government and obtain $5000
- qualify as a Director and obtain $10,000
- qualify as an Ambassador and obtain $25,000
Revenue Sharing
NovaTech takes 10% of company-wide funding quantity and locations it into three Revenue Sharing swimming pools.
These swimming pools correspond with NovaTech affiliate ranks as follows:
- Senior Government Pool – 2%
- Director Pool – 3%
- Ambassador Pool – 5%
Senior Executives, Administrators and Ambassadors every obtain a share of their corresponding rank pool.
NovaTech pays out the Revenue Sharing swimming pools quarterly.
Becoming a member of NovaTech
NovaTech affiliate membership is $49.95 after which $2.95 a month.
Full participation within the connected revenue alternative requires a minimal $99 funding (affiliate charge waived).
Word that if a NovaTech affiliate indicators up with a bundle as a substitute of simply paying the $49.95 charge, they’re charged $25 a month (VIP and President bundle tiers excluded).
Conclusion
NovaTech declare to generate exterior ROI income by way of their “N-Tech” buying and selling bot.
Supposedly N-Tech trades in foreign exchange and cryptocurrency.
Our refined AI Robots counsel options to search out worthwhile trades even in probably the most unstable markets, intelligently maximizing buying and selling alternatives and lowering the opportunity of losses with out human intervention.
No proof of N-Tech current, performing trades or exterior income being truly generated and used to pay associates is offered.
Because it stands the one verifiable income getting into NovaTech is new funding – which the corporate makes use of to pay recruitment commissions.
Given the in any other case fraudulent nature of NovaTech’s enterprise, it’s extremely possible the corporate is just recycling newly invested funds to repay current buyers.
Supporting that is NovaTech’s supposed August seventeenth launch date, and the corporate seemingly having didn’t register itself with monetary regulators.
NovaTech is kind of clearly providing a passive funding alternative, which within the context of regulation is a securities providing.
In an effort to function legally, NovaTech should register its alternative in each jurisdiction it operates in.
Q: The place is NovaTech registered?
A: NovaTech is at present registered within the USA, British Virgin Islands and Estonia.
Whereas I can’t communicate for the British Virgin Islands and Estonia, I can affirm NovaTech the MLM alternative shouldn’t be registered with the SEC within the US.
There’s a NovaTech Inc. registered with the SEC, nonetheless so far as I can see it’s an unrelated Nevada company that sells cleansing merchandise.
Which means that regardless of all the pieces else, NovaTech is working illegally within the US.
And so far as the BVI and Estonia goes, BVI is an outright scam-friendly jurisdiction with little to no regulation.
Estonia has regulation and regulators in place however isn’t identified for well timed securities regulation of MLM firms.
Put merely, from a regulatory perspective NovaTech incorporating in both jurisdiction is meaningless.
Once more that’s assuming NovaTech aren’t telling porky pies, which let’s face it they most likely are.
As with all MLM Ponzi schemes, as soon as affiliate recruitment slows down so too will new funding.
This may starve NovaTech of ROI income, finally prompting a collapse.
The mathematics behind Ponzi schemes ensures that after they collapse, nearly all of individuals lose cash.
Replace thirteenth March 2021 – Since this evaluation was revealed NovaTech have tried to introduce a retail buyer tier.
Seeing because it prices precisely the identical to enroll as an affiliate with a Builder Bundle because it does a retail buyer with a Builder Bundle, NovaTech’s retail packages are pseudo-compliance.
The bundle tier pricing had modified so I’ve adjusted that the place relevant.
NovaTech stays unregistered to supply securities in any jurisdiction.