Tag Archive for Bankruptcy

Hot Business News Today

Wake Up Now Looking For A New Investor ?

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Wake Up Now leaders would be not pleased with this article, however many former insiders and field leaders are informing Business For Home, and after validating their information, the company seems to be not stable at all.
According to a Wake Up Now Corporate statement:
“We are still recovering from damage done by gamers and scammers. Prepaid cards and chargebacks along with the need to support international growth led us to international merchant processing which is higher fees, delayed processing, and a multi-million dollar rolling reserve”.
It seems Wake Up Now’s deficit is around $15 million and according to macroaxis.com the company has a 96% chance of Bankruptcy within 2 year which states the following:

“Based on latest financial disclosure Wake Up Now Inc has Probability Of Bankruptcy of 96%.
This is much higher than that of the sector, and significantly higher than that of Probability Of Bankruptcy industry, The Probability Of Bankruptcy for all stocks is over 1000% lower than the firm”.

As of today, Wake Up Now stock has been around  $1.02, more than ten times less than when it was at $10.70 less than a year ago.
The Wake Up Now market capitalization went down in a year from approx. $200 million to

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The Freedom Fighters Network Closed Down

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From a beach in Bali, Angela Moore and Jordan Schultz, founders of The Freedom Fighter Network, told the world about their revolutionary system that was “guaranteed” to make you money.
The opportunity was launced in July 2014, Their Freedom Fighters Facebook group had 11,000+ members and an estimated 25,000+ marketers invested in the system.
Schultz and Moore closed down their operations in an unexpected move, leaving numerous affiliates in the dust. The reason seems to be a possible bankruptcy, so the owners decided not to pay out affiliates anymore, take the money and “jump ship”.
According to their website:
“The Freedom Fighters Network is a product that has all the marketing system with all of the pieces (capture page, sales page, one time offers and followup) already put together for you including a traffic source. The marketing system funnels people thru and converts them to sales for you.
In addition to the marketing system and traffic provided for you there will also be training on how to find your own traffic sources”.

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TelexFree Receiver Stephen Darr Speaks Out

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In 35 years of handling bankruptcy cases, Stephen Darr has seen plenty of ugly. He has doled out funds to creditors of an asbestos company and a machine gun maker and to victims of several Ponzi schemes.
But nothing comes close to the scale of the TelexFree Inc. bankruptcy. Never in history has a trustee been responsible for divvying up the assets of a company that prosecutors say defrauded 2.1 million people, from Boston to Uganda.
Darr, an accountant by trade and senior managing director at Mesirow Financial Consulting in Boston, is the court-appointed trustee charged with paying out claims to victims who believe they are owed more than $1 billion in the case. TelexFree was purportedly a long-distance phone company, but in reality generated most of its money by luring a stream of small investors from 2012 until it was shut down earlier this year, according to prosecutors.
Many Brazilian immigrants risked — and lost — large portions of their savings, in hopes of reaping the generous returns that were promised.
“I feel very sympathetic toward these people,’’ Darr said. “They lost a lot of money. They deserve to get it back, and it’s my job to get it back to them as

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Hot Business News Today

Solavei: Reports Of Our Death Are Greatly Exaggerated

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Our Business For Home collegue Tina Marie Williams has published an article with as heading Solavei among other mobile network companies mvno coming to an end in USA
It is based on an article in Channel Partners, a leader in providing news and analysis to indirect sales channels serving the communications industry.
We have received an email response from Rick White, Solavei ‘s Head of Legal and Policy, and we think it is fair to publish his comment:
Rick White:
“We were very surprised to read your article, and learn that our company is “collapsing” and “coming to an end.” 
In fact, we have signed up thousands new customers this month, paid close to $1 million in compensation to our members this month, and announced several exciting new programs on Monday in a national webcast joined by over ten thousand members from all over the United States. 
With all due respect (and with apologies to Mark Twain), your reports of our death are greatly exaggerated.
Your article makes interesting points about the evolution of the mobile phone business, and it’s true that we are taking advantage of the Chapter 11 process to restructure our finances and set us up for continued growth.  But your

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