Videospays

January 25, 2022 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY This ADVISORY is prompted by reports and information gathered by the Commission that individuals or group of persons representing VIDEOSPAYS is enticing the public, through social media platform or through their own independent websites to invest in said entity. VIDEOSPAYS is a mobile application that can be downloaded in GOOGLE PLAYSTORE . According to the creator of the said mobile application " VIDEOSPAYS is an online rating and reviewing site for Movie Trailers offering passive income to our users. We have partnered with Film Sponsors and advertisers to provide you with many videos for you to Rate, Earn and WITHDRAW. " As posted on their Website, investors can join by registering first, then they can choose from any of the following nine (9) Subscription Plans with corresponding tasks by simply watching videos: (1) Basis Plan worth $37; (2) Essential Plan worth $99; (3) Team Plan worth $199; (4) Professional Plan worth $499; (5) Exclusive Plan worth $599; (6) Business Plan worth $999; (7) Ultimate Plan worth $1,119; (8) Ultimate Plus Plan worth $1,999; and (9) Platinum Plan worth $2,499. The investor can earn from $86.8 up to $15,400 monthly depending on their subscription plan . An investor can also earn from referral bonus from $0.41 up to $22.00 depending of the subscription plan. Briefly, an "investment contract" exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others which is prominent in the scheme of VIDEOSPAYS . As such, the Securities Regulation Code (SRC) requires that said 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. Based on the Commission's database, VIDEOSPAYS , is NOT REGISTERED as a corporation or partnership and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC) . Further, the scheme employed by VIDEOSPAYS , 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. The public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of VIDEOSPAYS as well as to any other entities having the same or similar schemes and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it. Those who act as salesmen, brokers, dealers or agents of VIDEOSPAYS , 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 VIDEOSPAYS , and its representatives, please send your report through email at [emailprotected]. For the information and guidance of the public. Pasay City, January 25, 2022.