THE CLIENT'S OPINION
"In response to the multiple concerns of the Securities Exchange Commission and the National Media since February of 2015, we would like to address all accusations in an orderly manner. We've taken some time to compose this announcement because we are an informal group of clients throughout the nation and overseas dealing with waves of disorderly and baseless naysaying.
Take note, we are not a company. We are clients of Emgoldex; Clients that have been taking a stand since February and are now standing much stronger.Before we pinpoint every accusation, one must take a step back and define what is Emgoldex to better understand a unique company and a unique marketing plan that revolves around buying and selling gold bars online.
Emgoldex's trade name is EMGX F.S. Ltd and has it's administrative office based in Mahe, Seychelles and has a correspondent address in Amsterdam, Netherlands. EMGX F.S. Ltd's parent company is Gold and Silver Physical Metals, KG which has been operating in Munich, Germany since 2008. Emgoldex is a trademark of EMGX F.S. Ltd. Emgoldex is an online shop with with a Gold Provider, Global Swiss Trade S.A. that is based in Geneva, Switzerland that focuses on buying and selling gold bars that are from 1 gram to 100 grams of 999.9% purity, also known as 24 carat gold through a reverse binary matrix multi level marketing plan.
There are a total of 4 types of marketing approaches to attain the gold. The commonly favored marketing approach is through the Main Table of Orders that can earn you 3500 Euros worth of gold. In the beginning, a client purchases 15 grams worth of gold at 500 Euros and an additional 40 Euros is charged as an Emgoldex Online Transaction Fee.
Each client is required to submit to the following requirements: A Government Issued ID (Acceptable Philippine Identification are Driver’s Licenses, Passport, Postal ID, and the PRC ID), no more than a 6 month old Proof of Billing (Utility Bills, Cellphone Bills, Bank Statements, Remittance Slips, and the like), Proof of Payment of 540 Euros, Submission of the Emgoldex Registration, and to sponsor 2 clients that will also submit the mentioned requirements. Take note that the client has a right to cancel the order within 14 days from date of order for any reason by receiving 500 Euros back or 15 grams worth of gold exclusive of shipping fees, insurance costs, and tax.
As clients, we all start from the 1st level of the Main Table of Orders that is composed of 8 clients. Every time the 1st level is filled with 8 clients, the table splits in half. The 8 then becomes 4 clients in the 2nd level of 2 Main Tables of Orders. Another 8 is filled on top, and the 4 clients on the 2nd level then becomes 2 clients on the 3rd level in 4 separate Main Tables of Orders.
Another 8 is filled on the 1st level of each Main Table of Orders, and 1 client lands on the 4th level. When a new set of 8 clients in each Main Table of Orders is filled, each single client then exits the Main Table of Orders waits for a 14 day grace period to receive the clearance to purchase gold to be delivered, gold to be stored in a certified gold bullion vault in Germany, gold to be sold back to Emgoldex and proceeds are to be wired, or gold to be sold and converted into coupon orders that can be used as a form of payment for new clients.
The amount of gold sold upon the 15th day after exiting will depend on the Euro to Gold Grams fair market value that is based on the London Gold Fixing Company. While all of this is happening, your 540 Euro entry allows you to recycle and go back to the 1st level of the Main Table of Orders. The cycle then ends again and you can then choose to reenter on your 3rd Main Table of Orders or be happy with your total of 7000 Euros worth of gold.
What makes this enticing amongst the current roster of thousands of Filipino clients is because it is a form of passive income in Euros with a tangible product of gold bars. With a collective group effort, we can earn 1st world passive income in our 3rd world country. With the unique form of marketing, we are treading a different approach in multi level marketing. Unlike your typical binary systems known in the country, we do not earn from recruiting. We earn paper currency only if we decide to sell our gold bars. There is a leadership program where there is also an incentive. But once again, you only earn a Euro bonus if a client exits or when a client purchases actual gold bars and not when a client is added onto the Tables.
This unique type of business is a very new concept in our country. It was unheard of until just last October of 2014. But just because it is revolutionary, it doesn’t mean that it is already illegal. Here are the accusations and our respective rebuttals:
Take note, we are not a company. We are clients of Emgoldex; Clients that have been taking a stand since February and are now standing much stronger.Before we pinpoint every accusation, one must take a step back and define what is Emgoldex to better understand a unique company and a unique marketing plan that revolves around buying and selling gold bars online.
Emgoldex's trade name is EMGX F.S. Ltd and has it's administrative office based in Mahe, Seychelles and has a correspondent address in Amsterdam, Netherlands. EMGX F.S. Ltd's parent company is Gold and Silver Physical Metals, KG which has been operating in Munich, Germany since 2008. Emgoldex is a trademark of EMGX F.S. Ltd. Emgoldex is an online shop with with a Gold Provider, Global Swiss Trade S.A. that is based in Geneva, Switzerland that focuses on buying and selling gold bars that are from 1 gram to 100 grams of 999.9% purity, also known as 24 carat gold through a reverse binary matrix multi level marketing plan.
There are a total of 4 types of marketing approaches to attain the gold. The commonly favored marketing approach is through the Main Table of Orders that can earn you 3500 Euros worth of gold. In the beginning, a client purchases 15 grams worth of gold at 500 Euros and an additional 40 Euros is charged as an Emgoldex Online Transaction Fee.
Each client is required to submit to the following requirements: A Government Issued ID (Acceptable Philippine Identification are Driver’s Licenses, Passport, Postal ID, and the PRC ID), no more than a 6 month old Proof of Billing (Utility Bills, Cellphone Bills, Bank Statements, Remittance Slips, and the like), Proof of Payment of 540 Euros, Submission of the Emgoldex Registration, and to sponsor 2 clients that will also submit the mentioned requirements. Take note that the client has a right to cancel the order within 14 days from date of order for any reason by receiving 500 Euros back or 15 grams worth of gold exclusive of shipping fees, insurance costs, and tax.
As clients, we all start from the 1st level of the Main Table of Orders that is composed of 8 clients. Every time the 1st level is filled with 8 clients, the table splits in half. The 8 then becomes 4 clients in the 2nd level of 2 Main Tables of Orders. Another 8 is filled on top, and the 4 clients on the 2nd level then becomes 2 clients on the 3rd level in 4 separate Main Tables of Orders.
Another 8 is filled on the 1st level of each Main Table of Orders, and 1 client lands on the 4th level. When a new set of 8 clients in each Main Table of Orders is filled, each single client then exits the Main Table of Orders waits for a 14 day grace period to receive the clearance to purchase gold to be delivered, gold to be stored in a certified gold bullion vault in Germany, gold to be sold back to Emgoldex and proceeds are to be wired, or gold to be sold and converted into coupon orders that can be used as a form of payment for new clients.
The amount of gold sold upon the 15th day after exiting will depend on the Euro to Gold Grams fair market value that is based on the London Gold Fixing Company. While all of this is happening, your 540 Euro entry allows you to recycle and go back to the 1st level of the Main Table of Orders. The cycle then ends again and you can then choose to reenter on your 3rd Main Table of Orders or be happy with your total of 7000 Euros worth of gold.
What makes this enticing amongst the current roster of thousands of Filipino clients is because it is a form of passive income in Euros with a tangible product of gold bars. With a collective group effort, we can earn 1st world passive income in our 3rd world country. With the unique form of marketing, we are treading a different approach in multi level marketing. Unlike your typical binary systems known in the country, we do not earn from recruiting. We earn paper currency only if we decide to sell our gold bars. There is a leadership program where there is also an incentive. But once again, you only earn a Euro bonus if a client exits or when a client purchases actual gold bars and not when a client is added onto the Tables.
This unique type of business is a very new concept in our country. It was unheard of until just last October of 2014. But just because it is revolutionary, it doesn’t mean that it is already illegal. Here are the accusations and our respective rebuttals:
1. Why is there no Local SEC Registration?
Well firstly, Emgoldex is an online shop that is duly registered in its respective country of Seychelles. Its parent company is registered in Germany. It’s Gold provider, Global Swiss Trade SA is registered in Switzerland.
Emgoldex Company is an internet shop and is operating in concordance with UNCITRAL Model Law on Electronic Commerce of 1996 as well as Directive 2000/31/EC of the European Parliament and of the Council of 8 June 2000 on certain legal aspects of information society services, in particular electronic commerce, in the Internal Market ('Directive on electronic commerce'). The principle of non-discrimination ensures that documents and tools produced by the Company and used by the Client would not be denied legal effect, validity or enforceability solely on the grounds that it is in electronic form. Pursuant to the Article 11 of the UNCITRAL Model law in the context of contract formation an offer and the acceptance of an offer may be expressed by means of data messages. Marketing program Goldex is designed to assist only those who have a desire to promote the company's products over the Internet - shop in the world market and to receive credit bonuses from the company for advertising and attraction of new customers. Aside from that, Emgoldex falls under the protection of the Philippines Electronic Commerce Act (Republic Act No. 8792). To make it clear again, Emgoldex doesn’t have an office here. There is no legal entity called Emgoldex Philippines. In fact Filipino clients have requested to have a physical office from Emgoldex and there were talks of setting up regional offices worldwide. At the moment, that is still in the drawing boards. As clients, we are not allowed to independently establish our own office here because we would violate copyright laws if we were to use the Emgoldex name. We didn’t want to make the same mistake that has happened in other countries like the US, Colombia, or Panama where they didn’t follow the guidelines of Emgoldex. It is a misunderstanding that these countries banned Emgoldex, but it is actually the other way around. Emgoldex decided to halt activities with certain sub teams because they were tainting their global credibility. We didn’t want to follow those footsteps. Informally, we have banded into sub teams working together for a common goal and abiding to the company’s strict guidelines without violating local laws. But since then though with the irregularities cleared and settlements properly made, Emgoldex has resumed operations in the countries of Panama and Colombia. There are also Americans partaking in the Emgoldex Marketing Plan again. 2. Is Emgoldex is a scam?
By definition, a scam is a dishonest scheme or fraud. Emgoldex in the Philippines has rewarded thousands of Filipinos in gold and in Peso conversion in an orderly fashion. Not a single report of a client since its initial stage of October of 2014 where a reward was not provided that has submitted all requirements to earn respective rewards. Currently there are about 1700 open complaints with ANPO, none of them are related to Emgoldex.
There have been several attempts by the media to glamourize baseless and opinionated reports of complaints, but up to this day not a single formal case has been filed with local authorities. In fact, there have been numerous local authorities from the Executive, Administrative, and Judicial agencies partaking in the Emgoldex Marketing Plan already. 3. Is it true that there are no Gold Bars as a Tangible Product?Most Filipino clients in the beginning opt to cash out their Gold Bars. Without earning Gold Bars after exiting, there would be no transactions to retrieve actual cash. But as a typical client has attained a certain local currency goal to pay off certain expenses and debts, he or she opts to have actual gold bars shipped through a European Union address and is shipped securely to local addresses via Fedex or other international couriers.
A realization occurs that retaining gold bars in their possession locally or in a designated Gold Bar vault called Pro Aurum located in Munich, Germany will beat paper currency inflation. The ten year history of the precious metal is up 560% based on infographics provided by the London Gold Fixing Company. Countless Filipinos are already opting to receive Gold Bars ranging from 1 gram to 1 ounce based on informal reports amongst the sub teams. To be thoroughly clear about the answer of this question, an Emgoldex client earns when actual gold bars are bought or sold. Our profits are not recruitment generated. A client earns from the Fair Market Value of Gold based on the daily infographic formulated by the London Gold Fixing Company. On a side note to further prove that Emgoldex doesn’t violate the Anti-Pyramiding Law of our country, a client who is in the Leadership Program that invited you earns also a percentage commission when you purchase actual gold bars to be delivered or stored at Pro Aurum. There also has been countless visits to local pawnshops and gold resellers to verify the authenticity of our 999.9% Pure Gold. With Gold products refined from Argor Heraeus of Switzerland, Heraeus of Germany, Perth Mint from Australia, and Munze Osterreich of Austria, these local gold critics have verified they do hold 24 Carat value in every visit taken. 4. Are these coupons Tangible Products?No, they are not. They are by products of the actual gold bar you earn after one exits. These coupons contain a one time usable code to activate a client’s account onto the Main Table of Orders. Filipinos opt to convert their gold bars into these system generated codes to provide efficiency.
This is why it is a popular option compared to the other ways of earning cash due to it being secure, reliable, and most cost effective. So why is it worth P36,500 each coupon? A 100 gram gold bar if it was to be bought from Emgoldex’s Gold Provider Global Swiss Trade SA today, would cost about roughly 3573 Euros which is about P177,542.37 with today's (June 3, 2015) Euro value of P49.69. This does not include shipping fees, insurance, and import taxation. An exit of a client generates 5 coupons which amounts to P182,500. It is obvious that Fair Market Value is applied. 5. Is Emgoldex a get rich scheme concept without any risk?This question has a relative answer. In line with Global Fair Market Value of Gold, it is not. We follow a market value that goes up and down. Yes we earn in Euros and if converted to our local currency, it is high to Filipino standards. But because we are buying and selling gold with a Foreign broker, doesn’t mean we are earning as much as the rest of the world’s gold buyers and sellers. The timeline of earning top Euro from Gold is between 1 to 5 months for every exit. To make it shorter, we group together to help one another. Hard work and dedication has to be applied. It looks easy, but it really isn’t. There is also risk involved. If we don’t work collectively, opportunity cost is lengthened.
Disclaimers are stated that if we don’t follow the company’s guidelines, rewards will not be provided. Fortunately, our collective group of sub teams has followed these strict guidelines for us to be rewarded accordingly. 6. Are Filipino Clients of Emgoldex also employees, distributors, or
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