SEC Facebook

The Commission has received information that individuals or group of persons representing
an entity
named
PHIL MARITIME AND OCEAN INSTITUTE OF TECHNOLOGY INC. (PMOIT)
are
enticing the public to
invest in said entit
y
.
Information gathered from reports received by
the Commission show
that
PMOIT
is inviting the public
to invest
as its “
V
enture
C
apitalist
”
for a minimum capital of Php 350,000.00
with
a promise of receiving a
60/40 sharing on profits, a potential annual income of at least Php 206,000.00 or quarterly income of
at least Php 51,000.00 and a return of investment within a period of 2 years.
It was further reported that the company’s sources of
revenues
are the fol
lowin
g; 1.) Revenues from
the school;
2.)
E
arnings from the training
center;
3.)
R
evenues from the dormitory
;
and 4.)
E
arnings from
its
the commercial center
.
In a document entitled
Memorandum of Agreement
which was presented to the Commission,
P
MOIT
guarantees that
a Venture Capitalist will receive a Deed of Assignment and a Stock Certificate. In the same
document, it was stipulated that the capital contribution of a Venture Capitalist shall be Php 350,000.00 and
the Venture Capitalist will receive 40
% as a profit of the net monthly revenue of the school and its training
center, all the earnings from school facilities such as student dormitory and the commercial establishment will
be released and distributed every 3 months to the partner.
In a PDF
file document
which was also presented to the Commission,
PMOIT
advertised the investment
opportunity
below
:
In its Facebook Page,
PMOIT
posted an advertisement enticing the public to be a Venture Capitalist for
an amount of Php 350,000.0
0 per seat.
The public is hereby informed that
PHIL MARITIME AND OCEAN INSTITUTE OF TECHNOLOGY
INC. (PMOIT)
is
not authorized to solicit investments
from the public as it has
not secured prior registration
and/or license to sell securities or solicit investments
from the Commission
as prescribed under Section 8
and
12
of the Securities Regulation Code (SRC).
In view thereof, the public is hereby advised to exercise caution in dealing with any individual or
group of persons soliciting investments for and on behal
f of
PHIL MARITIME AND OCEAN INSTITUTE OF
TECHNOLOGY INC. (PMOIT
)
.
The public is further advised
NOT TO INVEST
or to
STOP INVESTING
in the
investment scheme being offered by the subject entit
y
or its representatives.
Those who act as salesmen, brokers, de
alers or agents of the said entity in selling or convincing
people to invest in the investment scheme it is being offered including soliciting investments or recruiting
investors through the internet may be held criminally liable under Section 28 of the SR
C and penalized with a
maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of Twenty One (21) years or both
pursuant to Section 73 of the SRC (
SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014
).
Furthermore, the names of all those
involved will be reported to the Bureau of Internal Revenue (BIR)
so that the appropriate penalties and/or taxes be correspondingly assessed.
Should you have any information regarding the operation of the subject entity, please
send your
reports to
the Enf
orcement and Investor Protection Department (EIPD) at
email at
epd@sec.gov.ph
or visit the
EIPD at
the 9
th
Floor, SEC Headquarters, 7907 Makati Avenue, Barangay Bel
–
Air, Makati City
.
For the guidance of the public.
Makati City, 13 September 2022