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SOLMAX GLOBAL LIMITED and IGNITER 100
SOLMAX GLOBAL LIMITED and IGNITER 100 are NOT REGISTERED with the Commission and are NOT AUTHORIZED to solicit, accept or take investments/placements from the public

Date Posted: 9 February 2021

SOLMAX GLOBAL

SOLMAX GLOBAL

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Based on information gathered by the Commission, the entities operating under the name SOLMAX GLOBAL LIMITED and IGNITER 100aresoliciting investments in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission. SOLMAX GLOBAL LIMITED and IGNITER 100are based in London, United Kingdom and are operated by FLORIAN KRUEGER,SERGE MEULENBELT,ABDUL REHMAN SANDHU,STEVEN LUBKA,THELMA DHLOVU,AARRON BATES, and ASIM MIRZA among others and appears to be soliciting investments from Filipinos within and without the Philippines through the assistance of their Filipino “Independent Marketing Partners” (IMP), some of which are: ANNA LISA,DIANE SAWALI,ROBERTO DULIN,AIZEL ALANA,EHMERSON ILAGAN,JENNIFER PLATA,MERI REYES,ELPHED REYES STEPHEN CARREON,RENMAR SOMBILON,JEMAR TARSITA,MELCHOR PAROJINOG,REYNALD ATILLO,FATIMA ATILLO,MARILOU VAN MEETEREN,MICHELLE CANAY,ROBINSON DIAZ,FERZAEL EBUENG,SUSAN BORJA RAMOS, and JIMBERT ATON.As posted online, SOLMAX GLOBAL LIMITED and IGNITER 100offer the following compensation plans involving mainly the sale or Initial coin offering(ICO)of their supposed cryptocurrency called “Equity Token” or “i100”sharewith a value of £0.38per token/share as of November2020in order to source funds under the pretext that it will drastically increase in price once it became listed in the open market within this year. These packages likewise include “Academy Credits” that can use apparently to access different webinars or online courses available through the companies’ SMG Academy. To wit:
Basically, SOLMAX GLOBAL LIMITED and IGNITER 100are offering investment packages ranging from £ 25 to£ 5,000with a total guaranteed passive income of 200%accumulateddailyat1%Return of Investment (ROI)for 200 days or at 2%ROI for 100 days in case the invest or recruited at least 3others to join the said scheme. The investor may also opt to lock his/her investment for a year in order to earn a bigger income based on the corresponding number of “Equity Tokens” or “i100” shares derived from his/her chosen package multiplied by the predicted value of £ 6 to £ 8per token/share once successfully listed or an approximate profit of 1,500%from the initial purchase price. To illustrate: Aside thereof, SOLMAX GLOBAL LIMITED and IGNITER 100offerother income opportunities relative to their above compensation plans which includes Ranking bonuses, Referral Commissions. Binary Bonuses, Matching bonuses, Global Pool Bonuses, Car, Travel and Gadget incentives, and others, in order to boost their recruitment processes similar to the modus of other entities already flagged by the Commission as scams that depend primarily on crowdfunding by amassing memberships. Thus, bereft of any actual retail able products or services, it is apparent that the scheme of SOLMAX GLOBAL LIMITED and IGNITER 100 involves the offering and
selling of securities, in the form of investment contracts, to the public because its investors need not exert any effort other than to invest or place monies in the said company in order to earn income. Despite their claim of legitimacy abroad, the public is informed that SOLMAX GLOBAL LIMITED and IGNITER 100areNOTREGISTEREDwith the Commission and are NOT AUTHORIZED to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC)in the Philippines. SOLMAX GLOBAL LIMITED and IGNITER 100arealso NOT REGISTERED either as crowdfunding intermediaries or funding portals in our country under SEC Memorandum Circular No. 14, Series of 2019 or the Rules and Regulations Governing Crowdfunding. None of their operators, agents, partners and/or members have appropriate registration and/or license to sell such securities to the public as well. Moreover, both SOLMAX GLOBAL LIMITED and IGNITER 100areNOT INCLUDED among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP)in accordance with the GUIDELINES FOR VIRTUAL CURRENCY EXCHANGES (BSP CIRCULAR NO. 944).Again, the public is warned of such possible “Ponzi Scheme” offering “too good to be true” investments opportunities where returns to early investors are likely to be paid out from the investments of new investors and not out of the companies’ profits. It must be emphasized that the offering and sale of securities in the form of investment contracts using the “Ponzi Scheme” is fraudulent and unsustainable and is NOT a registrable security. The Commission will NOT ISSUE a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme. Hence, the public is advised NOT TO INVEST or STOP INVESTING in any scheme offered by SOLMAX GLOBAL LIMITED and IGNITER 100or any of their affiliates and to exercise due diligence before investing in any other entities that offer investments promising ridiculous and/or fixed rate of return with little or no risk. The Commission warns all unscrupulous individuals and/or entities that strict penalties are imposed for violations of the Securities Regulation Code, the Revised Corporation Code, and such other rules and regulation enforced by the Commission. Those who act as salesmen, brokers, dealers or agents of unauthorized entities in selling or convincing people to invest in their investment scheme offered including solicitations and recruitment through the internet may likewise be criminally prosecuted and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or a penalty of Twenty-one (21) years of imprisonment or both pursuant to Sections 28 and73 of the SRC. Similarly, those who invite or recruit others to join or invest in such venture or offer investment contracts or securities to the public may incur criminally liability, or
otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the case of SEC vs. Oudine Santos(G.R. No. 195542, 19 March 2014).The names of all those involved will also be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be assessed correspondingly. As always, it must be noted that the above laws are not aimed to hinder or pose significant threats or risks to businesses and cryptocurrency projects but are intended for the protection of both the registered entities and the investing public from any anomalies and/or irregularities which tend to result from any unlawful and/or unauthorized operations. The public is also reminded that the issuance of a Certificate of Incorporation only grants entities juridical personality but does not constitute an authority or license for the corporation to engage in activities that require a secondary license from the Commission such as a License to Sell Securities to the Public. Should you have any information regarding any investment solicitation activity by any individual or group of individuals representing SOLMAX GLOBAL LIMITED and IGNITER 100, please send your report to the EIPD at epd@sec.gov.ph.For the guidance of the public. Pasay City, 09February 2021