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When a Launch Isn't A Launch - 1BitCoin Network

  • Posted by WatchDog
  • October 30, 2014 7:31 AM PDT
  • 1 comment
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1BitCoin Network - Real Deal or Stock Play?

What happens when you throw a company launch, and no one shows up – including the executives?

After much hype and a 150 font-point bright orange countdown clock on their webpage, 1BitCoin Network failed to launch their “Greatest International Network Marketing Opportunity” in any of the 45 countries they listed on their pre-launch page. Much later in the day, without any fanfare, corporate commentary, press release or even a blurb on the website, the clock was reset to allow another two days to achieve the erstwhile “launch”.

That’s the least of 1BitCoin Network's worries.

First, the pre-registration form on the 1BitCoinNetwork.com domain apparently does nothing except harvest email addresses. There was no confirmation of receipt, no email sent reminding of the launch, nothing. Email addresses typed into the form simply disappear down the rabbit hole.

Second, the company stock, trading under the symble “GTRL” at a fraction of a cent per share actually dropped 18% on the scheduled launch day, with gross sales volume of less than six dollars. Total. Roughly 1400 shares were traded, with a total value of less than the trading fee that would be charged by Etrade for the transaction.

There’s not much surprise in the MLM/home business industry. The named CEO, James “Jim” Clayton has a lengthy bio that’s actually pretty thin on success stories. Of the experience he touts, most can be verified only to belong to companies that folded shortly after launch:

James Clayton  
Zippi.com

Chief Operating Officer

 

With over 30 years of business experience Mr. Clayton is no   stranger to the challenges of today’s corporate environment. His hands on   referral marketing and dot com participation are beneficial in dealing with   what effects the bottom line and ultimately the success of a company. It is   his responsibility to see that processes are efficient and profitable for the   company. These skills come into play every day where Mr. Clayton is   responsible for managing and administering operations at Zippi Auctions, Inc.   Jim brings the strategic focus and mature business judgment gained during   three decades of diverse C.O.O. and marketing experience with a variety of   entrepreneurial and high-technology businesses.
  Jim’s responsibilities as C.O.O. with a nutritional products manufacturer,   was to bring the company up to Sarbanes-Oxley compliance. There he was   responsible for infrastructure in addition to Human-Resources development,   IT, Customer Service and Transportation Management. Mr. Clayton was Director of Strategic Markets in the dot com space where he was responsible for   sourcing evaluating and negotiating corporate resources as well as consumer   products and services.
  Mr. Clayton attributes his marketing savvy to his 12 year joint venture relationship with the award winning agency Fawcett Productions where he co-produced infomercials, corporate training and motivation programs for clients such as Chrysler Corporation, Commonwealth Commodity Brokers, City of   Hope and TravelMax among others. Mr. Clayton was born in Miami, Florida,   earned his B.A., in Business Administration at the University of Miami. Jim   is an honorably discharged army veteran, is married and the father to four   children.

 http://www.npros.com/dir/zippi/

This reference, Zippi.com, where Clayton listed in a bio that he was Chief Operating Officer, shared much in common with 1BitCoin Network – a publicly traded shell with shares selling for pennies, but the company eventually folded after their Zippi Auction eBay tie-in failed miserably in the marketplace and the shareholders in their penny stock were essentially reverse-split into null investment values.

Clayton was also listed as the Director of Operations of "TBN" - The Benefits Network, another MLM that folded.

http://www.npros.com/dir/TBN/

In his current bio for 1BitCoin Network, he lists himself as former Director of Strategic Operations at 1Network.com, a "Commissionable Community". Industry insiders are well aware that 1Network was yet another MLM company that folded without notice.

http://www.npros.com/dir/1network/

Third on the company worries list, and perhaps most telling, a phone call yesterday – on the originally promoted launch date - to the corporate number listed on the 1BitCoin Network web page revealed some troubling details. According to the answering service, the office location is simply a business suite – where a central operator answers calls for various rented offices as part of their business suite package.

When asked if she could be quoted, or if she could get anyone from 1BitCoin Network on the phone, the confused young lady on the other end of the line said, quite simply, “There’s no one to transfer to. No one showed up in the 1BitCoin office today.”

The 1BitCoin Network timer has been reset, will a tentative launch time of 10:00 a.m. eastern standard time, October 31, 2014.

 

 

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  • Jim Heron
    Jim Heron Fifteen days later, no signs of life.
    November 14, 2014