Why Social Trade is nothing but a MLM Scam
So everyone is asking about social trade. One month back we have released a video in which we clearly explained that it is a Multi Level Marketing business in the warping of social media exchange network. Do watch it. We have shared the same in this post. Even in audited Balance sheet of Ablaze Info solution Pvt ltd ( Social trade), the auditor has qualified the report. We are also sharing balance sheet of Ablaze info Solution limited for your knowledge and learning.
Points from Social Trade Balance sheet that proves its a Scam :-
Tax Auditor Disqualified the report for 2 major reasons – Click here to download Balance Sheet
1. Documents for the purpose of Audit has not been provided &
2. Debtors & Creditors pending for Confirmation
- No details of Debtors and creditors in the Balance Sheet i.e company did not know to whom he is liable to pay and from whom they will recieve money
- Company is making losses of more than 4 Crores Rupees which is not even possible as per their Business Model
- Ablaze has given loan of whoping Rs 74,00,000 to its directors which is not allowed legaly.
- Company collects 5750/ to Rs 57500/- as registration fee from thier members which they re-distribute to them in the name of Ad Clicking or facebook likes but thier is no revenue generated from Ads clicking to the Company as per Balance Sheet
- Most shocking fact is that thier is not a single tangible or intangible fixed Asset in the name of Company Not even a single Computer or huge website they maintain.
- Company claims that they pay Rs 5 per Ad click to its member against which the Company gets Rs 10 from other Ad Companies Facebook. Although they don’t have any Income from Ads in their Balance Sheet.
- Company collects Rs 50000 plus service tax from the members as a registration fees and the part of which they redistribute to the old member claiming it as an Ad clicking Income and members think by pressing the links provided by the Company generating Ad revenue.
What is Suspicious in Social trade business Model
- The company is focusing only on building members they are giving double income, If you add 2 member under you will get double income. further if you ad 2 more members that again you will get 10% of their registration fees..
- Most of the task given by Social trade daily is just a formality, Some links are not even opened still task got completed
- Domain name of social trade is registered in Australia without disclosing the name.
Their are more of such loopholes which is disclosed in video Below. Do watch it and share with your friends to that why social trade is scam :-
Why People Still Supporting Social Trade and Anubhav mittal :-
People are still supporting Social trade that company has a vision, but the fact is that they are also victim, they have invested their hard earned money in social trade. if company shut down their money will never recover. So this is the last option for them to save company by hook or crook. Deep inside they also now social trade is nothing but a scam. but still they are supporting social trade in hope of recovering their money
If you have some other views then must comment below and share your views about the company and its business model