SEC warns public about investing in 4 entities

THE Securities and Trade Fee (SEC) warned the general public towards investing in 4 entities that promote unregistered securities by unlicensed brokers.

It recognized the entities as 88Dragons Nest Franchising Corp., AADragon’s Franchising Corp., 88Dragon’s Franchising Corp., and Phil Maritime and Ocean Institute of Expertise, Inc. (PMOIT).

In an advisory on Wednesday, the regulator mentioned that 88Dragons Nest, AADragon’s, and 88Dragon’s are providing investments to the general public by a “co-partnership settlement.”

The regulator mentioned 88Dragons Nest and AADragon’s are each registered with the fee, whereas 88Dragon’s shouldn’t be, neither as a company nor as a partnership.

The SEC mentioned the three entities provide their funding contract by an organization consultant or a franchise advisor with a assured 4%-9% month-to-month revenue payout for six months.

Within the sixth month, the investor is promised to obtain the dividend together with the invested capital.

In the meantime, PMOIT invitations the general public to take a position as its “enterprise capitalist” for a minimal capital of P350,000, promising a possible annual revenue of no less than P206,000 or a quarterly revenue of no less than P51,000.

Traders of PMOIT are promised to obtain a return on funding inside two years with a 60:40 revenue sharing.

The corporate’s sources of income are mentioned to be from a faculty, coaching heart, dormitory, and business heart.

In a doc despatched to the SEC, PMOIT ensures {that a} enterprise capitalist will obtain a deed of project and a inventory certificates. A enterprise capitalist has to make a capital contribution of P350,000 whereas receiving 40% as a revenue of the online month-to-month income of the varsity and the coaching heart.

In the meantime, all of the earnings from the dormitory and the business institution of PMOIT are mentioned to be distributed each three months to the buyers.

“Cleary, the above-described scheme includes the sale and/or provide of securities to most people the place the Securities Regulation Code (SRC) requires that these securities have to be duly registered and that the involved company and/or its brokers will need to have the suitable registration and/or license to promote such securities to the general public,” SEC mentioned.

The SEC mentioned that the entities will not be licensed to solicit investments and warned the general public to be cautious. — Justine Irish D. Tabile

Leave a Reply

Your email address will not be published.