PLANETBIZ INTERNATIONAL INC.Posted 5 February 2018

SEC ADVISORY

 The public is hereby warned concerning the investment taking activities of PLANETBIZ INTERNATIONAL INC. (Planetbiz, for brevity) with principal office located at Unit 302 Mango Square Mall, Gen. Maxillom Ave, Lahug, Cebu City.

PLANETBIZ INTERNATIONAL INC. is a domestic corporation registered with the Securities and Exchange Commission Cebu Extension Office under Company Registration No. CS200830476 last November 19, 2008.

Information that reached this Commission disclosed that Planetbiz, through its division, Planet Mobile, recruits/solicits members who have to pay a membership fee of P3,888.00 that is considered as an initial investment and  for a lifetime membership in the company.  Said fee is in exchange for a product kit composed of the following items:  1)  Personal Virtual Office (PVO) – P2,640; 2) Schneider Discount Voucher – P2,100.00; and 3) 15 Mobile Consumer Privilege Card (MCPC) at P250.00 each – P3,750.00, that has a total value amounting to P8,490.00.

Information gathered likewise revealed that there are eight (8) ways of earning income on the part of the member investor.  Under the two (2) ways of earning income i.e. Weekly Endorsement Bonus and the Weekly Dual Cluster Bonus, there is an element of recruitment for the investor to be entitled to a recruitment fee; hence it seems that most of the company’s revenue come from the effort of people to invite prospective members to a common enterprise and not primarily through direct selling of the company’s products.  Likewise, the company is resorting to binary marketing system (the left and right system), which is a typical type of a pyramiding scheme.  Therefore, based on the alleged practice of the company, it is adopting a combination of both pyramiding scheme and illegal investment contract/undertaking.

 

For the information of the public, PLANETBIZ INTERNATIONAL INC. is not authorized to solicit investments from the public as it has no necessary permit from this Commission as required under Section 8 of the Securities Regulation Code (SRC).

 

Those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable or accordingly sanctioned or penalized, in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos (GR No. 195542, March 19, 2014).

 

In view thereof, the public is hereby advised to exercise self-restraint and caution or more prudently to stop investing their money into such investment activity and to take the necessary precautions in dealing with the above-named entity and/or its representatives.

 

The Commission urges anyone who has knowledge or information regarding the operation of this entity or about any business transaction involving these securities or investment opportunities to report such activity immediately to the Commission so that appropriate measures can be taken through the Enforcement and Investor Protection Department at telephone numbers 818-6337 or 818-1898 or email address: epd@sec.gov.ph

 

2 February 2018.