Thread: FlexKom aka Flexcom aka Weeconomy - legitimate MLM or scam ??

So a small business has to sell 100,000 of product to flexkom particpants, receiving a 10% discount, which is 5k to flexkom and 8% of that is 400 to recoup my initial 400 invested in the pos terminal as a KTM.

Does the KTM own the pos, or the GTM? What if it breaks, stolen etc.? Who is responsible? KTM, GTM, Flexkom, or the shop owner?

For a price, flexkom might do you the favor of insuring it. Ebcon can underwrite it.
(Hey this is a good idea. Maybe I ought to switch sides and work for corporate.)

Of course the GTM can also be a KTM thereby filtering even more money into Flexkom and out of the GTM.

Edit: Great post Ribshaw. Came in while I was typing. I didn't even think about the dumping of machines.

Originally Posted by Char

Does the KTM own the pos, or the GTM? What if it breaks, stolen etc.? Who is responsible? KTM, GTM, Flexkom, or the shop owner?

This may be a bit of a slippery slope on my part, but I believe any reasonable person looking to enter a business such as this should give it consideration. There were several Ponzi Schemes using the alleged placement of pay phones. All the investors had to do was supply the money.

Two Oregon Firms Named in Pay-Phone Ponzi Scheme - Los Angeles Times
Creator of ETS Payphone scam heads to jail - Atlanta Business Chronicle
Pay telephone `ponzi' scheme reaches Oregon - Portland Business Journal

To the question of who is responsible for the terminal. It is not much of a stretch to see a group offer to do everything to quash objections from would be investors. At the same time, Flexkom's selection process, seems not to be not so selective. While I would not expect any con worth his salt to buy a bunch of worthless POS terminals, I could easily see one pretending to. Then it is just a matter of dummying up some statements and a Ponzi is born.

Of the two scenarios, Ponzi or the use of locators to "place" terminals for investors, at this time I would lean to the later. BUT with this crowd's track record...

All very possible Ribshaw. Here's what I was thinking if the terminals do indeed exist in those amounts:

There are two types in Flexkom - The serial recruiters who get in, collect, then move on because they know it's a sham and the money is in recruiting. And then you have the schmoes (sorry Joe) who think the loyalty program is going to take the globe by storm (unlike the zillion MLMs before that were going to).

Serial recruiters will not buy terminals, duh.

The schmoes who happen to really believe will have a carrot dangled. Why collect only 20% when, if you sponsor a terminal in your territory, you can get 8% more of the revenue - You can triple down if you are a business owner too. (Shop, GTM, and KTM percentage). This of course is a special limited offer made available by Flexkom to better your business and make you huge, residual money forever.

What's in it for flexkom? Well 10 machines sold @ 400 is about 3k in their pockets. 3k MORE from the believers draining them dry. Plus remember, there has to be something to give the appearance that this is
legit. The terminals cover that and are a money maker to boot. No doubt there are some bonuses floating around too for the recruiters convincing their schmoe GTMs to not miss this opportunity.

Readers, are you a schmoe GTM? One who is not a serial networker recruiting huge teams but an individual who thinks you have struck gold in the M-Commerce business even though you're a realtor, butcher, or hairdresser etc.. Who do you think is funding those commission checks?

Worse yet, are you a schmoe GTM who has recruited a few? A believer who gathers more schmoes?