The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on BETTER ADSOURCE SYSTEM, INC., warning the public of the individuals and groups involved in such activities. The advisory defines the activities behind the scheme, and advises the public not to invest or stop investing in any investment scheme offered by the said company. Furthermore, SEC ordered the company and its officers or representatives to cease and desist from further engaging in activities of selling or offering sales of securities and investment contracts until the required registration is duly filled and approved by the Commission.
In support of this view, Coins.ph does not endorse or is affiliated in any way with such activities or products. Moreover, we have a zero tolerance policy on fraudulent activities and potentially scamming practices. In a separate article, we have enumerated tips on how you can avoid investment schemes and other online scams. We urge our customers to be extra diligent with their funds and to act within our User Agreement.
Based on the information gathered by the Commission through postings on the internet, a number of individuals or group of persons representing BETTER ADSOURCE SYSTEM, INC. / BETTER ADSOURCE ADVERTISING SERVICES (herein “BETTER ADSOURCE”) are enticing the public to invest their money in said entities.
As posted online, BETTER ADSOURCE promises a return based on a number of packages offered under its compensation plan, to wit:
- Referral Program– Earn from referring others up to third level indirect referrals. Pairing Bonuses are also awarded.
- Completion Bonus– Earn Unlimited Five Hundred Pesos (Php 500.00) every time a subscriber completed a fourth level referral;
- Referral Bonus Pool– Passive income that give earnings with or without referrals. The Referral Bonus Pool is accumulated every time there is a new Referral Pay-in. 10% of the subscription fee will go to the Referral Bonus Pool which will be distributed to all subscribers based on the stake they are holding. The Referral Bonus Pool will be distributed to subscribers every 24th day of the month;
- Profit-Sharing Pool– Passive income that gives income in every sales made by the company; In every repeat purchase made by a subscriber, and offline direct sales, 10% will be added to the Profit Share Pool which will be distributed every 24th of the month among all stakeholders base on the stake they hold;
- Gadget & Prepaid Load Incentive– Earn loyalty points known as “blp” in every progress or activity a subscriber made in the system. These loyalty points are used to redeem Prepaid Loads and Gadgets like Phones, Tablets, and Laptops;
- Income from Sales– Earn from direct selling. subscribers will enjoy up to 50% discount on products;
- Area Distributorship– Earn from all sales in a subscriber’s area of responsibility. Whether they made the sale, or the customer directly purchased from the company, the commission will go to their account; and
- Bitcoin – Reward Faucet. Claim Bitcoin Rewards from the Company’s Faucets every 15 minutes. BETTER ADSOURCE claims that it is a great way for its subscribers to earn money during their vacant time stating that thousands of Pesos has been claimed for the first 2 weeks of its implementation.
Simply, an investor is entitled to receive passive income from the pool of investment gathered and cryptocurrency mining, while active income is acquired from recruitment bonuses.
As illustrated by BETTER ADSOURCE in one of its postings, their subscriber need not exert any effort other than to pay the subscription fees in order to earn. Hence, they may opt to contribute funds only so that it may be used as trading capital by the company or to pay profits or returns to earlier investors.
The scheme of BETTER ADSOURCE involves the sale of securities to the public, and the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 of the SRC.
Per record of the Commission, BETTER ADSOURCE SYSTEM, INC. and BETTER ADSOURCE ADVERTISING SERVICES are not registered with the Commission as a corporation or partnership nor are they authorized to solicit investments from the public since they have not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation Code.
Those who act as salesmen, brokers, dealers or agents of BETTER ADSOURCE in selling or convincing people to invest in the investment scheme being offered by these entities including solicitations and recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.
Also, those who invite or recruit others to join or invest in such venture or offer investment contracts or securities to the public may incur criminally liability, or otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the case of Securities and Exchange Commission vs. Oudine Santos (G.R. No. 195542, 19 March 2014).
Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.
The public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by BETTER ADSOURCE SYSTEM, INC. and BETTER ADSOURCE ADVERTISING SERVICES and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it.
Should you have any information regarding any investment solicitation by any individuals or group of individuals representing BETTER ADSOURCE SYSTEM, INC. and BETTER ADSOURCE ADVERTISING SERVICE, please call the Enforcement and Investor Protection Department (EIPD) at telephone numbers (02) 818-6047 and (02) 818-6047 or send your report to the EIPD at firstname.lastname@example.org
For the guidance of the public.
Pasay City. 25 September 2019.