Breaking MLM Wireless News: The latest Global Verge calls provide more questions and fewer answers.
Well I have received numerous emails stating that Steve Lewis & Teresa Curtis the former management team at Global Verge, have joined FDI International after their failed takeover attempt of Global Verge. We have not been able to verify, so if anyone has proof please send it our direction. Added August 13th, 2009… FDI VP of Operations confirms Steve Lewis & Teresa Curtis ARE NOT part of FDI!
OK, first my hat is off to Global Verge corporate for continuing to hold calls to keep the field informed. However the calls seem a little staged over the last few days, and that does have me concerned.
Let’s get down to the new questions I have…
The first issue I want to address is the “temporary management” who were just terminated. In July here is what Steve Lewis the acting CEO had to say…
Now to add a little more facts before I ask questions…
President: Ted Robbins
Secretary: Teresa Curtis
Treasurer: Warren Hanchey
Director: Craig Perry
Here are my questions:
1. If Steve Lewis, Teresa Curtis and Warren Hanchey were temporary management, why were they (not Lewis) listed as corporate officers on July 29, 2009.
2. Why were employees being hired in the tune of dozens in Nevada instead of Missouri if everything in Vegas was temporary?
3. How can Craig Perry be an unbiased COO, since he was (according to Steve Lewis & Teresa Curtis) Steve Lewis’s personal business attorney, before he was hired at Global Verge?
4. Is Steve Lewis & Teresa Curtis really out of the game or is this just another ploy to hold off paying commissions?
Ok, now to commissions
Here are the new questions this brought up.
1. Is the current management going to honor Steve Lewis’s promises to grandfather everyone for June & July?
2. Are the genealogy issues completely fixed?
3. Who’s verifying all the genealogy issues if the Lewis-Curtis team is now gone and new employees (who more likely than not do not have any ideas how to work the software)?
4. Have all upgrades, downgrades and cancellations been completed for June & July?
5. When exactly are the July & July commissions going to be paid, and will compression be included?
Ok now let’s take a look at the Offshore Merchant propaganda.
Ok, now the last call Jeff Powell mentions a couple of things we need to review before I ask my questions.
The first thing is the use of “Tier-1 Bank” like that was something huge. The reality is the term “Tier-1” refers to “capital” of a bank and is the core measure of a bank’s financial strength from a regulator’s point of view.
See the fact of the matter is, it doesn’t matter about the bank or their relationship with BOA (Bank of America) what matters is the WHY behind the offshore accounts. Here is a good reference on “High-Risk Offshore Merchant Accounts.”
When a USA based company admits on a phone call they want to circumvent the Patric Act in order to bring money back onshore or settle-up offshore where it will not be tracked, then I see issues in doing business with that type of company.
The USA PATRIOT ACT is an acronym – Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001.
Now for some this may seem trival, but ask any NY resident how they feel. I fully understand its a controversial Law, but when a US-Based company uses the PATRIOT ACT, as the excuse for collecting money offshore, red flags go up, and questions need to be asked.
1. Why is Global Verge seen as a “High-Risk” MLM, instead of just a normal MLM company?
2. Why can’t the founders get approval through normal MLM friendly Merchant account procesors?
3. How are they going to charge clients overseas, when most USA banks deny offshore charges?
I have run a MLM doing millions a week, before, during and after 9/11. Yes we have new regulations and had to complete more paperwork for our members who lived in different countries. But we knew we were helping to keep America Safe.
Last but not least… Global Verge INVESTORS!
Why isn’t there any USA based investors? Having been an investor for several years in different start-ups and turn-around companies, I find it very out of the ordinary that the only investors mentioned are 5000 miles away from the operation they are investing. It’s not like we are talking about a publicly traded company with all the filed paperwork available through the SEC.
As I said after listening to the calls I had more questions than answers.
I am looking forward to the upcoming Press Releases to see how the professional spin starts to roll.
Never Give Up,