Klikmart Shopping Club Corp.
SEC Advisory • Securities and Exchange Commission • Advisories • Jul 31, 2015
Full text
July 31, 2015 SEC ADVISORY The public is hereby warned concerning the investment-taking activities of KLIKMART SHOPPING CLUB CORP. (also known as "KLIKMART REWARDS"). Per verification, "KLIKMART SHOPPING CLUB CORP." a.k.a. "KLIKMART REWARDS" is operating a marketing plan which promises that a member will earn 33% interest after a minimum period of twenty-one (21) days, to a maximum period of one (1) month. Thus, for a minimum amount of P1,500.00 daily, the investor will earn P500.00. The maximum investment is P15,000.00 daily. The investor has the option to withdraw his investment plus interest or roll-over his money upon maturity. "KLIKMART SHOPPING CLUB CORPORATION"/"KLIKMART REWARDS" is NOT AUTHORIZED to solicit investments from the public as it did not secure the necessary permit from the Commission as required under Section 8 of the Securities Regulation Code. Based on its Articles of Incorporation, it was formed only for the purpose of operating the "business of marketing and distribution of goods, such as but not limited to soap and perfumes, wares, merchandise of every kind and description in wholesale and retail basis." It is apparent that its avowed purpose does NOT include the undertaking of investment-taking activities. Those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable or accordingly sanctioned or penalized, in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014]. In view thereof, the public is advised to STOP INVESTING in this kind of investment activity and to take necessary precautions in dealing with the above-named entity and/or its representatives. ISHCcT Should you have any information regarding the operation of this entity, please call the Enforcement and Investor Protection Department at telephone number: (02) 584-7187 .
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