Unitynet Corporation

Date Posted: 14 February 2018



SEC Facebook

The Commission has received information that individuals or group of persons representing UNITYNET CORPORATION(“UNITYNET”) are enticing the public to invest in the said entity onlineor through the internet. Based on the information communicatedand gatheredbythe Commission, UNITYNET, headed by Eduard Gary Salazar Reformina,allegedly sells theso-called “Ascending Profit System”(APS), an online automated systemcontainingthe followingmaterials:1.10 Steps Training Kit (allegedly worth P10,000.00);2.1 on 1 Coaching (allegedly worth P10,000.00);3.Done for Your System (allegedly worth P20,000.00);4.Payment and Fulfilment System (allegedly worth P10,000.00);5.Sales Team (allegedly worth P10,000.00);and6.30-Day Traffic Implementation Program or T.I.P. (allegedly worth P10,000.00).Under the APS, membersare allegedlytrained on how to recruit or sponsor more downlines into his/her network marketing business, how one could sell products online effectively, and how one could promote his/her traditional business. Instead of paying thetotalamount of Php70,000.00, the APS can be availed of for only Two Thousand Nine Hundred Ninety Pesos(Php2,990.00). UNITYNETCORPORATIONclaims that a member will earn P1,000.00 for every person herefers into the system. Likewise, the prospective investor is told that he can earn as much as P11,000.00but he must join UNITYNETright away because ONLY LIMITEDslots are available.A member may recruit by posting on his/her social media account or website, an inspirational video that has an enticing clickable banner (e.g. Gusto mobang kumita ng extrang P10,000.00?) which when clicked, shall redirect the prospective member to a referral link leading to thevideo presentation of UNITYNET and finally ending upto their sign-up page that is modified to link to the referror’sUNITYNETaccount. The referror’s unique code is indicated in the link and shall serve automatically as the new investor’s sponsor that is entitled to the commission/referral income. The public is hereby informed that although UNITYNET CORPORATIONis registered with the Commission as a corporation, however, such primary registration merely confers upon the entitya juridical personality under the Corporation Code of the Philippines and doesNOTauthorize it to offer, solicit, sell or distribute anyinvestment/securities. Such activities require a Secondary License from the Commission and the securities or investment product should likewise be registered with SEC before they can be offered or sold to the publicunder Sections 8 and 12 of the Securities Regulation Code (SRC). Consequently, those who act as salesmen, brokers, dealers or agents of UNITYNET CORPORATIONin selling or convincing people to invest in the investment scheme being offered by UNITYNET CORPORATIONincluding solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the Securities Regulation
Code and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty of Twenty One (21) years imprisonmentor both pursuant to Section 73 of the SRC. Accordingly, those who invite or recruit other people to join or invest in this venture or offer contracts or securities to the public may be held liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos (G.R. No. 195542, March 19, 2014). In view thereof, the public is hereby advised to exercise caution before investing in these kinds of activities and to take the necessary precaution in dealing with UNITYNET CORPORATIONor its representatives. Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers 818-6047. For guidance of the public