A brand new network marketing company called SpinQast has pre-launched and is giving television lovers the opportunity to build a business just from switching their regular cable to their internet streaming TV box.
But…there are some terrible scam allegations that this opportunity is a dignified ponzi scheme.
Either way we got the real scoop for you inside…
In this unbiased SpinQast Review, we will give you everything we got on this company, the products and the determine if the opportunity to make money from this is legit or not. Read more…!
SpinQast Review | What Is SpinQast?
The company known as SpinQast is a online network marketing company registered and owned by Paul Nash. Unfortunately, the company is so brand new that the website is not complete with any details of the president or his experience. So what we did was research the name SpinQast online and found some very interesting and vague details about the location of the company.
The company has two distinct different DBA names registered as of March 2015 under the names of SpinQast and SpinDing. Both these company tradenames have Paul Nash’s name attached to them and the interesting part is the address doesn’t validate well for SpinQast.
According to Google MAP search we entered 6 Heft Brook Road, Killingworth, Connecticut the registered address of the company and the results brought up two questions. Where is the physical location of this MLM SpinQast? Why is there a Las Vegas address for the company when it’s registration is a Connecticut address?
These are very important details to know before joining any business opportunity.
We believe the addresses are from their server, see some companies just register domains for the account purposes but doesn’t mean anything which is why nothing can be found they are a brand new domain with no authority.
SpinQast Review | Who Is Paul Nash?
Since the company website doesn’t show any information that Paul Nash is the owner or his business experience in running a MLM we did some more digging.
Paul Nash was the former owner of a previous company called SpinDing that failed terribly on October 2014. On top of that Paul Nash was unfortunately caught between a rock and a hard place when a ponzi system known as GoFun Rewards was shutdown causing him to lose part of his ownership and funding.
According to the reports online the asian company allocated funds in a secret offshore account.
Here is an excerpt taken from Spinding.com by Mr. Nash replying in regards to the shutdown and his involvment with GoFun Rewards.
It’s true I was involved in GoFun. I was the key technical partner, responsible for building and operating the systems aspect of the business. The owners were eAdgear Inc, a predominantly Chinese run operation that was based in CA and Hong Kong. It’s a shame that I was involved with these guys… they made a unilateral decision one day to shut down US operations and take the business offshore, and I was left picking up the pieces both financially and with my relationships. Besides taking a modest salary for my programming efforts (which provided a mechanism for me getting health insurance) and a bonus in the second month, I never made any money at all from this, and they never even called me to tell me I was fired and that my insurance was cancelled. No return calls since. This in itself is astounding because my wife was on chemo, and they left me high and dry.
By my count they took over $16million offshore and failed to pay commissions, me or other employees. A freaking nightmare to say the least.
The reason I started this company on my own was because I am sick of getting screwed by partners and bad business deals in the MLM space. I’m a pretty accomplished entrepreneur in my own right, and I don’t need or want a front man any more to take the credit in the good times and point fingers in the bad. I can handle both on my own.
I am very very surprised at the amazing reaction we are getting. While this is good, it’s also going to be even more challenging for the management and operations of this business. I can tell you though that I’m going to work my tail off to make this successful. It’s my name this time.
SpinQast Review | About The SpinQast Product
The company is still in pre-launch stage but images of the soon to be released SpinQast device is being hyped and spread almost everywhere on social media. We just want to know if the device is manufactured by the company and who has rights to distribute it?
The reason why we ask this question is because in a previous energy service company we were once in they were selling a energy saving device and later on we got word that the MLM was illegally selling it without permission.
Time will tell when more details and updates are posted on their website about the device and it’s capabilities. On a positive note here is what we did learn about the device from correspondence regarding the launch.
SpinQast will transform your television into streaming thousands of networks and premium services like HULU and NetFlix which are already available but you still have to have your own paid account.
The price of the device is $99.00 plus a monthly charge of $9.99 per household is required. Subscriptions generate associates $10 BV per month (each) and retail sales of the Streaming TV Box generates $75 BV per box.
The specifications of the TV box has the following:
Quad Core PC
2 GB RAM
8 GB WiFi
Supports External Disk Drives
Google Remote TV
We are computer geeks and we understand that a device with those capabilities is pretty bad ass.
SpinQast Review | Can You Make Money With SpinQast?
In order to earn income with SpinQast you must first become a member for a nominal $59 per year subscription plus an additional $39 per month to get access to the backoffice support, tools, and training. SpinQast is straight online cycler “Board Game” type of business with a 3 X 10 matrix.
Which means the first three positions each will branch into 3 more in degree 1 (Level 1) all the way down to 10 degrees which equals up to 88,572 spots.
Commissions are paid out based on your positioning and how many Spinqast remote devices you sell.
Here is a breakdown of how you get paid on the different levels:
Level 1 earns $3.13 per subscription fee paid
Level 2 earns $3 per subscription fee paid
Level 3 earns $1.60 per membership charge paid
Level 4 to 10 earns $0.80 per subscription fee paid
There is also a 50% check match bonus for personal enrollments of other associates.
The company is really pushing for the first 2000 affiliates who do join to reward them by closing the line and pay a special bonus guarantee of $150 for 1000 sales.
There is more to the SpinQast Compensation Plan which is why we have provided the full downloadable PDF below.
SpinQast Review |Â Conclusion
SpinQast is too new to justify if it is a scam, there really is not physical box or income earnings to prove the business works. Right now everything is up in the air at this point and is over hyped by the early birds who are rushing to get in the top position.
As for the monthly fees to start the business, it is uncertain where those funds are going to but we have an idea. We don’t like that the website doesn’t show credibility for the company but many companies in the MLM industry have put out fast put together websites just so they can get people in the door.
For all the sales you must do to earn a decent size commission really ain’t all it’s cracked up to be, the commissions are too small and the company expects alot from you as an associate. Â At least we know that when we do compare apples to oranges we get paid a higher profit per sale and we don’t have to ever chance or call anyone to join us. It’s a completely different animal compared to your typical MLM or cycler programs…this is a real legit affiliate six figure opportunity.
There are a few red flags on the owner Paul Nash but it is likely he is trying to change his poor reputation into a positive by creating a company that is different than what he has been through in his MLM Ponzi past.
Plus not many people are okay with the catch 22 of the first 2000 members joining and then the company wants to close the line.
That means if anyone comes in afterwards its going to make it extremely harder for the people to earn because the company is saving all the money for the people at the top.
This is a classic example of a typical PONZI SCAM! Why would you lock up the matrix? something is fishy about that or the owner really doesn’t understand how to put together a MLM Company Compensation Plan legitimately.
See you on the next post!
Anastacia Hauldridge & Rich Guzman