What happens when you throw a company launch, and no one shows up – including the executives?
After much hype and a 150 font-point bright orange countdown clock on their webpage, 1BitCoin Network failed to launch their “Greatest International Network Marketing Opportunity” in any of the 45 countries they listed on their pre-launch page. Much later in the day, without any fanfare, corporate commentary, press release or even a blurb on the website, the clock was reset to allow another two days to achieve the erstwhile “launch”.
That’s the least of 1BitCoin Network's worries.
First, the pre-registration form on the 1BitCoinNetwork.com domain apparently does nothing except harvest email addresses. There was no confirmation of receipt, no email sent reminding of the launch, nothing. Email addresses typed into the form simply disappear down the rabbit hole.
Second, the company stock, trading under the symble “GTRL” at a fraction of a cent per share actually dropped 18% on the scheduled launch day, with gross sales volume of less than six dollars. Total. Roughly 1400 shares were traded, with a total value of less than the trading fee that would be charged by Etrade for the transaction.
There’s not much surprise in the MLM/home business industry. The named CEO, James “Jim” Clayton has a lengthy bio that’s actually pretty thin on success stories. Of the experience he touts, most can be verified only to belong to companies that folded shortly after launch:
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James Clayton |
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Chief Operating Officer |
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With over 30 years of business experience Mr. Clayton is no stranger to the challenges of today’s corporate environment. His hands on referral marketing and dot com participation are beneficial in dealing with what effects the bottom line and ultimately the success of a company. It is his responsibility to see that processes are efficient and profitable for the company. These skills come into play every day where Mr. Clayton is responsible for managing and administering operations at Zippi Auctions, Inc. Jim brings the strategic focus and mature business judgment gained during three decades of diverse C.O.O. and marketing experience with a variety of entrepreneurial and high-technology businesses. |
http://www.npros.com/dir/zippi/
This reference, Zippi.com, where Clayton listed in a bio that he was Chief Operating Officer, shared much in common with 1BitCoin Network – a publicly traded shell with shares selling for pennies, but the company eventually folded after their Zippi Auction eBay tie-in failed miserably in the marketplace and the shareholders in their penny stock were essentially reverse-split into null investment values.
Clayton was also listed as the Director of Operations of "TBN" - The Benefits Network, another MLM that folded.
In his current bio for 1BitCoin Network, he lists himself as former Director of Strategic Operations at 1Network.com, a "Commissionable Community". Industry insiders are well aware that 1Network was yet another MLM company that folded without notice.
http://www.npros.com/dir/1network/
Third on the company worries list, and perhaps most telling, a phone call yesterday – on the originally promoted launch date - to the corporate number listed on the 1BitCoin Network web page revealed some troubling details. According to the answering service, the office location is simply a business suite – where a central operator answers calls for various rented offices as part of their business suite package.
When asked if she could be quoted, or if she could get anyone from 1BitCoin Network on the phone, the confused young lady on the other end of the line said, quite simply, “There’s no one to transfer to. No one showed up in the 1BitCoin office today.”
The 1BitCoin Network timer has been reset, will a tentative launch time of 10:00 a.m. eastern standard time, October 31, 2014.
