SEC Facebook

Based on the
investigation and reports received
by the Commission,
88DRAGONS NEST FRANCHISING CORP
.
/ AADRAGON’S FRANCHISING CORPORATION
/ 88DRAGON’S FRANCHISING
CORP
.
are
offering investments to the public through their
so
–
called “CO
–
PARTNERSHIP AGREEMENT
.
”
Upon
verification
with the Commission’s
database,
88DRAGONS NEST FRANCHISING CORP
and
AADRAGON’S FRANCHISING CORPORATION
are
both
registered w
ith the Commission on 19
August 2021
and 12 August 2022
,
respectively
,
while
88DRAGON’S FRANCHISING CORP
is not registered either as a
corporation or partnership
.
It bears stressing that
88DRAGONS NEST FRANCHISING CORP/ AADRAGON’S FRANCHISING
CORPORATION
/ 88DRAGON’S FRANCHISING
CORP
offers their investment contract through a company
representative or a franchise consultant.
Specifically,
a
company representative will present the contract
as a “Co
–
partnership program” which guarantees
4%
–
9% monthly income payout for a period of
six
(6) months and on the sixth (6
th
) month, the investor will receive the dividend promised together with
the amount of capital invested.
Furthermore,
88DRAGONS NEST FRANCHISING CORP/ AADRAGON’S FRANCHISING
CORPORATION
/ 88DRAGON’S FRANCHISING CORP
’s
profits are allegedly sourced from the company’s
commissary profit and company owned stores exclusive of the profit derived from the co
–
partnered branch.
Clearly,
the above described scheme involve
s
the sale
and/or
offer
of securities to the
general
public
where
the Securities Regulation Code (SRC) requires that these securities
must be
duly registered
and that the concerned corporation and/or its agents
must
have the appropriate registration and/or
license to sell such securities to the public pursua
nt to Section 8 of the SRC.
The records of the Commission show that
only
88DRAGONS NEST FRANCHISING CORP
and
AADR
AGON’S FRANCHISING CORPORATION
are registered, while
88DRAGON’S FRANCHISING CORP
is
not
registered as a corporation or
partnership
. However, despite the former’s registration, all subject
entities are
NOT AUTHORIZED
to solicit investments from the public since
they have
not secured prior
registration and/or license from the Commission as prescribed under Sections 8 and 28 of the SRC
.
In view of the foregoing, the public is advised
NOT TO INVEST
or
STOP INVESTING
in any
investment scheme being offered by any individual or group of persons allegedly for or on behalf of
88DRAGONS NEST FRANCHISING CORP/ AADRAGON’S FRANCHISING CORPORATION / 88DRAGON’S
FRANCHISING CORP
and to exercise caution in dealing with any individuals or group of persons soliciting
investments for and on
their
behalf.
Hence, those who act as salesmen,
brokers, dealers or agents or claim to act as such for
88DRAGONS NEST FRANCHISING CORP/ AADRAGON’S FRANCHISING CORPORATION / 88DRAGON’S
FRANCHISING CORP
in selling or convincing people to invest in the investment scheme being offered by
the subject
entit
ie
s
including solicitation and recruitment through the internet may be prosecuted and held
criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million pesos
(P5,000,000.00) or penalty of Twenty
–
one (21) years of imprisonmen
t or both pursuant to Section 73 of
the SRC.
Also, those who invite or recruit others to join or
to
invest in such venture or offer investment
contracts or securities to the public may incur criminally liability, or otherwise be sanctioned or penalized
acc
ordingly as held by the Supreme Court in the case of
Securities and Exchange Commission vs. Oudine
Santos
(G.R. No. 195542, 19 March 2014).
Should you have any information on any recruitment or securities solicitation activities being
undertaken by person
s or group of persons claiming to represent
88DRAGONS NEST FRANCHISING
CORP/ AADRAGON’S FRANCHISING CORPORATION / 88DRAGON’S FRANCHISING CORP
, you may send
your reports to the
Enforcement and Investor Protection Department
through email at at
epd@sec.gov.ph
.
For the guidance of the public
.
Makati City,
13
September 2022