Here’s our bullet point list of what we’ve learned so far:
- 3 year old established company with the opportunity of being available globally.
- Simple 3×12 forced matrix compensation plan. (Spillover volume IS commissionable)
- Automated Trading Packages are just $40 in BTC. You can buy as many as you want, however, more than 250 packages might require additional account verification.
- The packages have individual buy/sell/trade freedom connected to them, so that each purchaser makes their own trading decisions, which is key to SEC compliance.
- Option to join at a free level, refer and earn commission for seven days.
- 20% commission on your personally referred members, if you have purchased at least 1 trading package. 10% for free members.
What have we learned so far about Eyeline Trading since the June 30 meeting in Mexico in terms of due diligence?
- The pre-launch kickoff weekend in Puerto Vallarta went better than expected.
- There are two companies: Eyeline trading which is the marketing company and Eyeline Business and Development which has been crypto mining and trading for three years.
- Both companies are very REAL and their level of compliance is better than expected- also, in terms of US/Canada SEC and FTC compliance.
- The big news, from an SEC standpoint, is that each member will receive an individual account, so the funds are not pooled. Each account also has an on/off switch, so it is individually controlled, another key aspect of not falling under many SEC rules.
The trading company already have their own:
- Crypto processing deals with partners in the online gaming industry.
Eyeline Trading Packs and Regulatory Compliance:
- Packs are $40 each in BTC. $20 is put into trading; yielding up to .66% per day. $20 goes to admin costs and to commissions.
- There will be an ON/OFF button in the back office for the trading packs in the backoffice.
- Members can turn OFF the trading at any time.
- Members can turn OFF and ask for a refund of the $20 component from each pack that went to the trading company.
- There is NO refund of the $20 from a pack that went to commissions/operating costs.
- It is planned to have EACH member’s trading allocation sit in an individual account so the total funds collected and traded is NOT seen as a pooled investment, in compliance with regulatory issues.
- Click here for more details on compliance.
Disclosure of Trading Results:
- There will NOT be full disclosure of all the trading since most of the profits are OTC (over the counter) BTC trades.
- FULL transparency would disclose details of private IP and client details.
- Lawyers will issue a legal document, like a stock certificate, monthly- showing the results.
- Where possible, trading results will be shown and other profit generating activities.
- No… they won’t be disclosing details of who their traders are to avoid having members bombarding them will calls/contact to ask for advice and confirmation if they are real.
SEC and Regulation:
- SEC lawyers do NOT give approval… they give OPINIONS.
- Currently, the company’s SEC lawyers see NO red flags. On/off switch and individual accounts rather than pooling make the packs different than USI packs.
- However, the industry is still very unregulated, so it’s a case of adapting as regulations change.
- NO… they won’t be disclosing details of who the lawyers are, to avoid members call the law firm constantly to see of they are real and creating problems. The lawyers have been interviewed in detail at the meeting in Mexico.
- Still debating if compounding will have an AUTO rebuy option or not.
- Legal opinion on the auto-rebuy has been mixed.
- NO company calculators, as it suggests projected income and creates expectations.
- There are many generic online calculators that do the same thing.
- The corporate website is still under development in terms of content.
- The system was put live to allow IT to detect bugs and user interface issues in a live environment.
- Graphic designers are still working on the site.
- The backend programming is being tweaked to accommodate a significant change in the payment structure, at the request of field leaders, to pay commissions out weekly rather than monthly.
- This re-programming means that live replicated sites are expected to be ready around July 13th or so.
- Explanation of the packs and comp plan are accurate.
- Previous MLM projects from the Eyeline owners have all had up to 100,000+ members joining in the first 90 days, so they have experience in handling viral growth.
- Servers are in house.
- Programmers are in house.
- BTC payments are handled via third party processor.
- SSL certificate will be added but not necessary as all passwords are encrypted. NO credit cards are used or info stored, and the payment processor is a secure third party.
- 2FA will be added to make withdrawls more secure.
- NO KYC needed until the cumulative total of pack purchase reaches $10,000.
- Commissions on personal sales paid in real-time.
- Commissions on team sales are paid weekly.
- Commissions paid in BTC.
- Minimum of $10 in BTC to withdraw.
- Currently, support staff speak English and Spanish.
- Two of the support staff hold law degrees and will help with compliance.
Social Media, Negative Reviews, Compliance:
- A team of people will monitor social media activity and enforce compliance.
- Others will monitor and maintain positive reviews and deal with negative reviews.
- Members who violate rules will be given one warning. A second violation will result in termination.
If you look at the first 2 or 3 items about the pack and the fact that you can turn OFF the trading and get back your trading allocation at any time makes this better than other company’s products.
If people expect 100% transparency of EVERYTHING, this is NOT for them. By the way, they WON’T get that level of transparency from a Bank, Hedge Fund or Investment House. Is there RISK? Yes, that’s a given. So, only risk what you can afford to lose.
* All info on this page is subject to change and is not officially released by corporate.