Paidtunes

January 11, 2022 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY In response to numerous reports received by the Commission regarding the activities of PAIDTUNES , the Commission wishes to inform the public that PAIDTUNES is NOT REGISTERED as a corporation or partnership and is NOT AUTHORIZED to solicit, accept or take investments from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC) since it does not have a secondary license issued by the Commission to solicit investments or other securities from the public for whatever purpose as prescribed under Sections 8 and 28 of the SRC. PAIDTUNES is a mobile application that can be downloaded from Google Play Store. Initially, subscribers need to register through the app or through the ir website at www.paidtunes.com , choose their desired package, then they can start earning by watching videos and listening to music while rating them. Based on information gathered by the Commission, the subscription packages of PAIDTUNES are as follows: 1. Access worth P1,620.00; 2. Access Lite worth P4,050.00; 3. Access Plus worth P9,000.00; 4. Access Pro worth P22,500.00; 5. Premium worth P45,000.00 and 6. Premium Plus P67,500.00. Subscribers get paid from $0.5 up to $1 depending on the package availed of by watching videos for at least five (5) seconds while rating them. Further, subscribers may withdraw their earnings through the following withdrawal gateways viz. , Payeer, Perfect Money, Coinpayments and Coinbase . Subscribers can also earn $0.5 up to $7.50 daily per referral. They can only withdraw their earnings if they earn $20 in their account. The scheme of PAIDTUNES partakes of the nature of offering and sale of securities in the form of investment contracts to the public. The scheme of PAIDTUNES partakes that of offering and sale of securities, in the form of investment contracts to the public. The Securities Regulation Code (SRC) requires that the offer and sale of securities must be duly registered with the Commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such securities to the public. Further, the scheme employed by PAIDTUNES , shows indication of a possible " Ponzi Scheme " where monies from new investors are used in paying "fake profits" to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors. The offering and selling of securities in the form of investment contracts using the " Ponzi Scheme " which is fraudulent and unsustainable, is NOT a registrable security. The Commission will not issue a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme. 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 behalf of PAIDTUNES . The public is further advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by aforesaid entities/individuals. Those who act as salesmen, brokers, dealers or agents of PAIDTUNES , in selling or convincing people to invest in the investment scheme being offered by the said entity including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC 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 PAIDTUNES , and its representatives, please send your report to the Enforcement and Investor Protection Department (EIPD) at [emailprotected] . For the information and guidance of the public. Pasay City, January 11, 2022.