Update: SEC issued a Cease and Desist Order (CDO) against PlanProMatrix on July 16, 2019. PPM is dead.
PlanProMatrix Review: Is it legit or scam?
I know your curiosity leads you to this page when you saw somebody on Facebook holding a lot of money and inviting you to join their online business.
The business that they are selling to you is PlanProMatrix or PPM.
Just imagine when your Php600 becomes Php100,000.00 or more. That’s a whopping 16,667% or above the return of your investment.
It sounds enticing, isn’t it? But wait. How are they going to do that?
Continue reading because, in this PlanProMatrix review, I will tell you how the business operates. Furthermore, you will also know why you should avoid it.
Table of Contents
What is PlanProMatrix
PlanProMatrix Online CO. is an SEC-registered partnership headed by Mark George B. Naval (a.ka. Bong Naval) as CEO and Junnel Millano as Operations Manager.
According to their official website, it is a growing online-affiliate business. It was founded in 2013 and aims to provide a home-based income-generating platform for people.
Expressly, they claim to be an online job and solutions. They say they offer a data entry job and an e-loading business.
You will be an advertising agent after paying the membership.
PlanProMatrix has no identifiable products to sell. Instead, it collects money for membership packages.
Namely; the Starter and Premium Package at Php600.00 and Php1,850.00 respectively. The Starter and Premium membership include an e-loading business, ad package, data entry software.
The premium membership includes a compensation plan called Table of Exit.
How to Earn
A member in PPM can make money in three different ways. For example; one can start an e-loading business, perform data entry job or become an advertising agent.
Once you become a member of PPM, you can be a dealer for an e-loading business. These e-loads include top ups for Philippine networks such as Globe, Smart, Sun Cellular and Touch Mobile.
Also, they sell loads for other services.
Watch the video below and check how much money you can make in PlanProMatrix e-loading business.
Video from Youtube
As can be seen from the video, the guy tells us a very unrealistic return in e-loading business. I am 100% sure that you will not make Php50,000.00 a month just by selling loads.
The market for eloading business is crowded. Everyone knows that PPM members are not fun of selling eloads.
PlanProMatrix Data Entry
The data entry job that the company is talking about is CAPTCHA encoding.
To begin with, let me tell you what CAPTCHA is and examine how it works.
CAPTCHA (Completely Automated Public Turing test to tell Computers and Humans Apart) is the text or image you are required to input by various websites to eliminate bots from humans.
Sites use CAPTCHA to prevent spammers and hackers from instantly doing a particular action using automated scripts or “Bots.”
Cybercriminals use these scripts or bots to hacks passwords of Yahoo Mail, Gmail, Facebook, and other accounts. Furthermore, bots can create many email addresses automatically and use them in posting spam comments in different blogs.
Scam Alert: AIM Global
Thus, you need to rethink before you do the PlanProMatrix data entry job. In essence, a CAPTCHA encoder helps hackers and spammers facilitate their unethical or illegal works.
Video from Youtube
How much is the rate for CAPTCHA encoding?
According to the researchers of the University of California, San Diego, the retail price for solving one million CAPTCHAS is as low as $1,000. That is $1 for a thousand CAPTCHAs.
Mostly, the rate is between $0.5-$1. Assuming you work for 8 hours a day with a price of $0.75 per 1000 CAPTCHAS and can type up to 250 per hour, your earnings will be $1.5 or Php81 (assuming $1=Php54).
If you know how to read CAPTCHAS and have a computer at home, I bet you can earn more than that amount.
Let us take a second look at how, as an advertising agent, you can earn in PlanProMatrix.
PPM members don’t like E-loading and CAPTCHA encoding. E-loading business is saturated while CAPTCHA encoding is unethical and pays a very low rate.
So, what is it then that the members love their so-called online business? The referral system is what the members care about.
PPM members are recruiters. Their business model emphasized the referral program.
The Securities and Exchange Commission (SEC) of the Philippines advisory against PlanProMatrix. The company promises the following six ways to earn as “Advertising Agent”:
- 2×1 Matrix System – a member makes Php300 for every two (2) recruits.
- Pass3Unli – a person earns Php50.00 for his every 2nd, 4th, 6th, 7th, 8th and onwards direct recruits while the Upline earns Php50.00 from the former’s 1st, 3rd, and 5th direct recruits.
- Unilevel/Indirect Referral Commission – earn Php5.00 for every direct recruit and the recruits of his downlines up to the 10th level.
- Profit sharing – to be qualified, a member is required to recruit five direct downlines every month and entitled to a share or portion of the income appropriated by PPM.
- Binary Matching Bonus – a member gets Php100.00 whenever his downlines activated their respective binary. To enable a binary, a member must have four direct recruits per account. Alternatively, a member, to activate his binary, may purchase a Binary Activation Code amounting to Php300.00 each.
- Binary Direct Downlines Commission – a member can earn Php30.00 for every direct downline that activates their respective binary.
PPM has a compensation plan called “Table of Exit” available only in the Premium Package.
Review the image below. The SEC explains how the Table of Exit works.
Is PlanProMatrix Legit or Scam
PlanProMatrix is a scam because its business looks like a pyramid scheme.
Wikipedia describes Pyramid Scheme as a business model that recruits members via a promise of payments or services for enrolling others into the scheme rather than supplying investments or sale of products or services.
As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.
The Cambridge Dictionary defines scam as a dishonest or illegal plan for making money, especially one that involves tricking people.
PlanProMatrix is a pyramid scheme and a scam because it has no genuine products or services. What the purchasers are buying from PPM is the possibility of deriving money from its referral program.
The value of the e-loading business and CAPTCHA encoding, to put it mildly, is minimal. Likewise, PPM generates most of its revenues from selling its products and services to the people inside the program using its referral plan.
It emphasizes the recruitment system. Furthermore, the company promises easy money and unrealistic high returns.
After buying a plan, a person will turn his efforts towards enticing others to join the business, because he will get a part of their payments.
Pyramid schemes, like PlanProMatrix, hiding as MLM programs often violate Philippine securities laws. On February 9, 2018, the SEC issued an advisory against PlanProMatrix.
The SEC believes that PPM is selling an investment contract that requires a Secondary License from the Commission before it can be sold to the public.
What is an Investment Contract
An investment contract according to the Amended Implementing Rules and Regulations (IRR) of Securities and Regulations Code (R.A. No. 8799), is a transaction or scheme whereby a person invests his money in a common enterprise. Then, he is led to expect profits primarily from the efforts of others.
PlanProMatrix Sells Investment Contract
In my opinion, the scheme used by PPM meets all the elements of an investment contract.
First, as to the first requisite, there is an investment in money when an investor commits money to an enterprise. PlanProMatrix sells the Starter and Premium Package for cash at Php600 and Php1,850 respectively.
Second, there is a common enterprise when two or more investors “pool” their resources. In this case, the invested money is under the control of PlanProMatrix which decides as to what to do with the amount.
PPM uses part of the money while a portion is paid to pay the promised returns to its members.
Third, investors or members of PPM are attracted primarily by the prospects of a return on his investment. The investment in money is made with a view of receiving profits from PlanProMatrix.
The following evidence shows how much your gain will be if you will invest in the said company.
Junnel Millano, the Operations Manager, is telling us that in their business, you can earn while staying at home.
Particularly, you don’t have to go out to invite people physically because recruitment is done online. For instance, their top earners are already earning millions in their company.
Last, expected profits in PlanProMatrix arise primarily from the efforts of others. Under the scheme, the accumulated amount received by the investor comes mainly from the efforts of his recruits.
Scam Alert: Paysbook Login Rewards and Social Media Scam Exposed.
PlanProMatrix after the SEC Advisory
There is no Cease and Desist Order (CDO) yet, thus, the company can still operate. What the SEC issued is just an advisory.
The purpose of the advisory is to warn the public to transact with caution with PlanProMatrix.
Nevertheless, the advisory from the government regulatory body may indicate that their operations are under surveillance from the authority.
Rule 64.1 of the amended IRR of the SRC provides that there must be a proper investigation or verification before the SEC can issue a CDO.
Can You file a complaint against PlanProMatrix?
Yes, you can file a formal complaint against PPM. You can contact the SEC’s Enforcement and Investor Protection Department at 02-818-6337 or 02-818-6047 or email them at [email protected].
There is strong evidence that what PPM is selling is an investment contract. I Know you will have a good case.
Moreover, if proven, those who act as recruiters, salesman or agents may be prosecuted and held criminally liable under Section 28 of the SRC.
PlanProMatrix Review Conclusion: It’s a Scam
My review with PlanProMatrix indicates that the company looks like a Pyramid scheme. The business is a scam that everyone should avoid.
PlanProMatrix is an SEC registered company. There is no doubt about that. However, what this partnership is selling may not be legal in the eyes of the SEC.
Additionally, the business that they are trying to sell to you may not be as profitable as you think. Notably, the e-loading business is overly saturated, and the CAPTCHA encoding is unethical (if not illegal).
Ultimately, the referral program or the right to recruit other people is what the members care about. That is the life and blood of their business.
In conclusion, members make money in PPM because of their recruitment system. People at the top take their commission from the people at the bottom.
The next time you see that shiny objects in your newsfeed, do a quick search in Google. That business might be a scam!
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