I just wanted to put an update about the Pacific WebWorks (PWEB.OB) lawsuit that was filed by Google. Pacific WebWorks we all know are behind many work at home scams and other “businesses” they are running and are now having a hard time but lets just look at why companies resort to scamming.
Besides having idiots who only care about themselves running the company they can do other things all of them allow the owners and friends to have a blast at the cost of others. For example Pacific WebWorks is a publicly traded company on the Over the Counter Market they trade under the symbol of PWEB.OB and before the lawsuit they where trading around $0.30 cents of course it crashed when the news was released. Now this stock is what I would call a luxury stock for the owners.
A luxury stock is a stock that they will sell to raise money which is supposed to go into the coffers for business and it does however its then taken out of the coffers for new cars for the business, travel expenses (golf etc), conferences and other “material purchases”. These are really nothing but funneling money to the owners in order for them to live in the lifestyle they are accustomed too. With being on the Over the Counter markets they are not as transparent (now they are more than the pink sheets). What happens when they run out of shares to sell? Oh, well they can make more or release restricted shares. Now they can’t do that without the board of directors etc but lets see who controls that? Everyone thinks that if they are a share holder that they get a vote and thats right but I promise the majority is still controlled by the people in charge anyways. These stocks do not supply a dividend and do not do anything for the common shareholder. Yes people made money with this stock but its pointless.
Now Pacific WebWorks claims to have gained its growth thanks to web hosting, internet payment system (InteliPay), and by selling “Visual WebTools”. But let’s get real do you think you can sell website maintaining tools when Google, Yahoo, and Microsoft already give away these types of tools for free? Now according to the 10Q provided to the SEC the revenue for the first 9 months of the year Pacific WebWorks made $21,624,424 dollars compared to the $7,351,878 they made for the first 9 months of 2008. “This increase relates to the continued success of the company’s online marketing strategies and partnerships directly targeting new customer acquisition”. I can translate that for you This increase relates to the number of scams we put up during this time and the marketing of these scams to even more people
So how can they make this amount of money when what they are “offering” is so over saturated that people will give the tools away or lower the costs to almost nothing. It’s by running sites like:
- Yahoo Success (http://www.yahoosuccess.com/Terms.php)
- EAuctionTutor (https://secure.visualwebtools.com/eAuction/eb_24_32807/terms.html)
- BigMoneyKit (Google Cache)
- Come Date (http://www.come-date.com/Terms.php)
- Google Fast Cash
- Goggle Fast Cash
- Google Biz Kit
- Tweet Profit Studio
- Profit Studio Learning
- Tradeworks Marketing, Inc.
- Home Business Kit for Google
- HomeBizKit 4U
- Bing the Profit King
and hundreds of other sites hosted with s3curehost.com which we know is a Pacific WebWorks domain, of course they can always say that its part of the service clients get and it just so happens that most of the clients run scams.
Scams like what Pacific WebWorks are using when you sign up for a trial and then continue billing later has become ever so popular over the first 9 months of this year, funny how that corresponds to the increase in profits. They also started in the first 9 months of the year with the fake news posts which are some of the most extensive scam website creations I have seen they did a good job but not good enough. It is however good enough to pay Kenneth Bell $205.000 dollars a year and I am sure there are some other perks like access to “petty cash”.
I also like that in the posting to the SEC they have sold a portion of the hosting business to another company called The Quad Group (TQG) for $418,196 dollars however it seems that TQG is owned by officers and directors of Pacific WebWorks, I wonder if thats to save a portion of the business in case of lawsuits. Nope thats not it because it looks like TQG out of Utah is also billing people using TQG*ONLINEBIZKIT for the billing. Well the BBB already has TQG Online Bizkit as a PWEB business so no protection there.
So our result is this:
The Reason People Scam is because HUGE money.