what about KaChing KaChing?

"Buy 1 for yourself and get the chance to sell your friends and family 5 and get your downline started!" We examine the multi-level marketing industry, where only the people who come up with the ideas make any money, and everybody else is left unhappy, broke, and tired of reading scripts and selling overpriced vitamins and similarly worthless products. Includes Global Prosperity, Pinnacle Quest International, IRS Codebusters, Stratia, and other new Global Prosperity scams.

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rogfulton
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what about KaChing KaChing?

Postby rogfulton » Wed Nov 10, 2010 11:03 pm

This is a new one on me. A co-worker gave me a print-out called KaChing KaChing Home Business Opportunity - A Detailed Review

Most of the information seems like run-of-the-mill MLM because you get paid for stuff people who join after you sell. The bottom line seems to be you get a 10% commission off all purchases made through your own store (a $30/month website selling everything (one online review mentioned a quote from somewhere that mentioned if it's on Amazon, KaChing KaChing members also sell it)) and $6-$20 per month for each person you refer to become a store owner. You can even get a bonus based on every single member in the entire company who enrolls after you. They use what they call a straight line matrix without 'gotchas'. The principals are purported to be Robert McNulty (The Home Depot original business plan writer) and Ron Loveless (Sam's Club designer/launcher).

I am not able to check very many of the links that come up in Google due to business restrictions. More than half the links include the work scam or fraud but we know the poster could just be airing sour grapes. I would appreciate any additional information that I could use to keep my co-worker from spending any additional money.

BTW, the print-out (a 'lens' in KaChing-speak) doesn't mention a sign-up fee and none of the Google-supplied links that I could check mention one.
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Re: what about KaChing KaChing?

Postby Mythbuster » Thu Nov 11, 2010 2:41 am

Press Release -- KaChing KaChing to Acquire ShopToEarth - published 10/28/2010 on http://www.shoptoearthnews.com/2010/10/ ... toearth-2/

HENDERSON, Nev. – (Issuer Direct) – October 27, 2010 – KaChing KaChing, Inc.
(http://www.kachingkaching.com) (OTC Bulletin Boards: KCKC.OB) today announced it has signed a letter of intent to acquire ShopToEarth, Inc. (STE) in an all stock transaction.

ShopToEarth is a leading direct sales affiliate e-commerce online retailer. STE has long-established partnerships with over 2,300 nationally recognized retailers such as Walmart, Home Depot, Ebay, Petsmart and Target, while also providing over 20,000 green products through its relationship with 300-plus green retailers such as Avalon Organics, Burt’s Bees, Seventh Generation and Alba. ShopToEarth’s mission is one of promoting not only its business, but more so products that are good for people and good for the planet. STE has positively impacted the lives of over 100,000 home based entrepreneurs, paying out over $50 million in cash back and commissions since its creation in 2006.

Bob McNulty, Founder and CEO of KaChing KaChing, said, “We have long admired ShopToEarth’s business model – a proven platform that has generated revenues in excess of $150 million. Pat Welsh is a premier leader in the direct sales arena. His vision has lead to the development of one of the largest green retail platforms, all while empowering people to change their lives by choosing green, a concept we readily embrace at KaChing KaChing.”

The Company believes this acquisition will continue to strengthen and position KaChing KaChing in its pursuit of becoming a leading provider of retail products through its retail chain of stores. Through its network, KaChing KaChing currently sells a broad range of brand name products to the consumer, serving 25 categories and over one million items at everyday low prices. With the addition of ShopToEarth’s proven system, KaChing KaChing’s footprint in the e-commerce arena is now further solidified.

“Bob McNulty’s drive and enthusiasm are simply contagious. His passion, combined with a proven track record of building billion dollar companies, was a huge influence in our decision to combine forces with KaChing KaChing. We believe the long-term benefits this merger will bring our representatives and their families will be substantial,” said Pat Welsh, Founder and CEO of ShopToEarth.

KaChing KaChing expects to close this transaction within the next 10 days, and at closing will benefit from STE’s database of over 100,000 prospective new super store owners. This influx of seasoned representatives will help accelerate the geometric growth of KaChing KaChing’s independent store owner database. Following the acquisition, Pat Welsh will join KaChing KaChing as its executive director of business development.

About KaChing KaChing, Inc.

KaChing KaChing, Inc. is the very first retail chain on online stores serving consumers on the Internet. It licenses co-branded proprietary online store fronts that can be operated by Independent Store Owners full or part- time with exponential viral growth. Each online storefront will offer millions of items and thousands of name brand products to sell at everyday low prices. Powered by superior customer service and driven by value, KaChing KaChing, Inc. provides every Independent Store Owner with the best opportunity for financial success. For more information, visit http://www.kachingkaching.com

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JamesVincent
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Re: what about KaChing KaChing?

Postby JamesVincent » Thu Nov 11, 2010 4:17 am

Looking at some of the players involved is interesting, especially considering what was written in their bios on the website.

http://www.fool.com/EveningNews/foth/19 ... 990113.htm

http://caselaw.findlaw.com/us-2nd-circuit/1420744.html

http://www.zdnet.com/news/thebigstore-a-big-bust/110118

Hostile takeover?
http://www.secinfo.com/duWA1.t1f.htm

Apparently there is something written up on Robert J. Mcnulty on scam.com but I didnt feel like going in there when you guys can....

Ok... thats enough about the CEO

Mark V. Noffke is the CFO and as you can see by the independant audit of Beyond Commerce, not a very good one. Agreed it is the company in total, but he is the one who gets it since he was CFO there also.

http://www.faqs.org/sec-filings/100902/ ... rce_8-K.A/

Apparently, as far as Mark Guest goes, the EVP/ business development, there is a real problem. A google search of the name brought me to this page.

http://repspace.com/forums/p/1232/2384.aspx

I was initially inclined to skip over the page until I noticed an entry mentioning Melody Guest who is listed as the Director/ISO technologies.

The store itself seemed pretty nice. Checked over some prices and they seemed fair prices. Their computer stuff was comparable to tigerdirect.com which is who I normally order my stuff through. But the past records of almost every single major player is seriously suspect.
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JamesVincent
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Re: what about KaChing KaChing?

Postby JamesVincent » Thu Nov 11, 2010 5:30 am

I also found this other blog speaking about ShopToEarn which became ShopToEarth.

http://www.sequenceinc.com/fraudfiles/2 ... earn-scam/

And this one too

http://www.sequenceinc.com/fraudfiles/2 ... mnational/

I would definitely give some serious thought to even looking at this company KachingKaching and would say to talk to the person who gave you the leaflet but if their already in then their already screwed and might not want to hear it.

Best I can tell to get all the bells and whistles it costs $448 up front to get in and $119/ year to stay in with a minimum of $100/ month in sales volume through your site to qualify for commissions.

EDIT: Forgot to put in the moolah
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notorial dissent
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Re: what about KaChing KaChing?

Postby notorial dissent » Thu Nov 11, 2010 8:01 am

OK, so is this thing actually selling anything but memberships? i have yet to hear anything resembling a product be mentioned so far in the discussion.
The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.

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JamesVincent
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Re: what about KaChing KaChing?

Postby JamesVincent » Thu Nov 11, 2010 3:06 pm

The product is a replicated web store front that sells normal items to regular consumers. According to several of the blogs and forums that I looked at it is basically the same thing you can get and set up for considerably less through commisionjunction.com and others like it. Like I said, it is a nice web site you get according to the Home site, but I personally would have serious issues in dealing with the people who created this and according to the SEC filings I could find they were I believe $17 million in the hole the last one I could find, which was late last year.
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notorial dissent
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Re: what about KaChing KaChing?

Postby notorial dissent » Thu Nov 11, 2010 10:09 pm

So in other words, they are selling memberships to sell memberships, and empty websites, and they are $17 M in the hole??????? They have no inventory, no real overhead except whatever they are paying their ip or server provider, whaaaaaaatt!!!
The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.

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Re: what about KaChing KaChing?

Postby JamesVincent » Thu Nov 11, 2010 10:24 pm

notorial dissent wrote:So in other words, they are selling memberships to sell memberships, and empty websites, and they are $17 M in the hole??????? They have no inventory, no real overhead except whatever they are paying their ip or server provider, whaaaaaaatt!!!



Essentially what I found notorial. They use others webhosting services so they dont even own their own servers. They are also tied in to a number of different companies who have the same phone number, but remarkably different addresses. Not sure how they operate, it seems to flow from one company to another. I did find in a superpages reverse look-up that their one company I-supply I believe it was called, had negative reviews for customers reporting that the company absconded with the money and didnt repay it or provide the web services they were contracted for.
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Re: what about KaChing KaChing?

Postby JamesVincent » Thu Nov 11, 2010 10:38 pm

I went back through to find where I had seen their deficit stated. It was in the SEC filing link above, Ill repost it here

http://www.faqs.org/sec-filings/100902/ ... ex99-1.htm

I believe its under the second Ex file you have to click on at the top. If Im reading it correct and I think I am it shows an accumulated deficit of approx. $31 million and change.

http://www.faqs.org/sec-filings/100902/ ... ex99-3.htm
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