MLM Wireless News: Global Verge stand before Attorney Generals answering questions about their business. This was bound to happen with the amount of complaints and questions flowing into their offices from law enforcement agencies, current distributors, former distributors, journalists, and competitors just trying to cause issues.
However, going before the AGs is not a bad thing in and of itself. Over the years while I was running ProSTEP I went before the AG in Florida a few times, and each time I was able to learn what was expected of us from the Attorney General. And for anyone who has been in this position, you know the Florida AG is NOT MLM Friendly.
With that said, I do have concerns on the way Jim Hilman and the Triple Diamonds are still hyping events which are taking place in and around Global Verge. I can say that Jim Hilman’s call last night was a solid call from the business opportunity standpoint. He did not hide from the issues, and if I were a GV rep, I would be using him for 3-way calls on a daily basis.
Now, the first thing I want to share is the Triple Diamond call from last Friday…
This call was NOT an official or approved Global Verge call and made several announcements which where premature. One of those announcements was the fact Global Verge and inked a deal with T-Mobile. However, there has been No Official announcement from Global Verge. Even in the official Global Verge email which was sent to E-Associates on Friday the T-Mobile agreement was not mentioned.
This Triple Diamond call was a hype call which also included a very serious issue. The Triple Diamond who held the call, mentioned that T-Mobile is the #1 cell phone company in the world (by the way it is the 6th largest, in my video I say 8th). Now, to some this would be a very small issue. However, when a leader lies about one thing, they’ll lie about another. Global Verge lost their Zer01 contract based on compliance issues, and now we see it happening again. This causes me to wonder if, these guys fully understand the magnitude of their compliance issues, or just don’t care! The FCC, FTC and the SEC are very watchful of the Tele-comm industry.)
Jim’s call last night does bring up some questions, and causes me to address some issues mentioned in the call.
But, before I get into those, I want to share one section of the call where JIm does give some sound Words Of Wisdom.
Ok, now to the rest of the call.
Now, Jim does an eloquent job of sharing about the issues with Global Verge and the AGs, but there are some things he just does not get correct.
1. The Attorney Generals NEVER issue “opinions”, they are enforcers of the laws and protectors of the people in their States.
2. Global Verge DID NOT approach the AGs to get their act together, the AGs received countless complaints and asked Global Verge To respond.
3. And, for those who may think I am wrong, then please provide the the documented opinions with the seal of the respective Attorney Generals offices.
Now this is great news. However, I have not heard from any Global Verge Distributors perosnally sharing that they have received their commissions. So if you are reading this and have received your June Global Verge commissions, please let us know.
Now, I fine this very interesting for several reasons.
1. Jim is very straightforward the “Matrix” is the key to the amount of money a person makes. Although, products “might” be sold, there has not been enough outside sales to meet the 70% rule the FTC has issues as one of the benchmarks for a legitimate MLM.
2. The Global Verge compensation plan was created as a “pay to play” comp plan. The only way you can max the compensation plan, is to increase your monthly membership (autoship) to the Professional package. On the surface this looks legit. However, when you run the numbers, you quickly see that the majority of the money paid out in the compensation plan does not come form the product pool, but from the matrix and other company pools where the money is generated from the matrix memberships themselves.
3. The majority of the products being sold are 1 time sales, not monthly consumable autoship products. Which once again, means you are paying the majority of your money through the matrix.
Now, some will say “Troy is grasping at straws…. Tell that to Burn Lounge and YTB distributors.
Now, let’s look at the real story… PHONES!
Well, I have to admit, I did get a pretty good laugh out of this part of the call. However, at the same time, if I were a rep, I would gladly do 3-way calls all day long with Jim because it can sure sell.
1. Ok, let’s do some math. If the company is now about 50K strong with reps, and 40K of those came in over the last 90 days to sell “cutting edge wireless tel-com technology. Then we know that in the last 21 months this company was not growing, and Jim Hilman was not making very much money. But if he can keep these new folks focused on the fact “soon” they can sell some type of wireless his income will grow beyond his wildest dreams, and he will have hit the BIG ONE! Well I sure can’t fault him for wanting to hit the big one, I think that’s one of the reasons we all stay in this profession.
2. What happens if the company doesn’t ink a deal with T-Mobile?
3. What if the Zer01 Press Release was just a ploy to get more folks at the bottom to quit, so commissions will roll up because folks quit. Then sometime in the future compliance issues are fixed and Zer01 renews the agreement. (Yes this is a far fetched theory. However, what hasn’t been far fetched so far when it concerns Global Verge?
So, here is what we know…
1. The company is about 24 months old, and until the last 90 days was not really growing at a huge rate.
2. The company isn’t the fastest growing MLM in history averaging less than 1400 reps per month.
3. The field is still hyping the fact “someday soon there will be some type of cell phone to sell.”
4. Commissions are purported to have started being paid.
5. Jim Hilman can really gave a great Global Verge presentation.
6. If we were in Jim Hilman’s position we just might do the same thing… NOT!
My hat is off to Jim and his top leaders for standing firm in such a crazy adventure.
The whole call…
Never Give Up,