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Looking for a unbiased Monspace Review? You’re in the right place. Today we are looking at this MLM opportunity and we are going to share our full review. If you’re wondering whether it’s a scam or a legit company keep reading as we will reveal everything. Also we are not affiliates for this company so you can expect and honest review and not just another sales pitch like other reviews do!
Monspace Review
Monspace’s headquarters is situated in Malaysia and depict themselves as a multinational corporation with a active interest for eight essential segments: Telecommunication, hospitality, real estate, finance, technology, aviation, food and beverage and entertainment.
Jessy Lai is cited to as CEO of the organization on the Monspace site.
Dato' Sri Jessy Lai is a multi-faceted business person with an passion for making ideas into reality and helping mission-driven professionals materialize ideas, elevate performance and quicken success.
Lai (right) was a best affiliate in Zhang Jian's YSLM pyramid scheme. In 2014 The Star claims Lai was caught out lying about YSLM affiliate’s demanding refunds.
Lai allegedly said YSLM had “changed her life” on account of ” big brother Zhang” who helped her pick up riches and fame.
YSLM in the end collapsed and caused an estimated $233 million dollars in losses.
Regardless of that, Lai was determined that YSLM was a legal business, blaming the
Zhang recently reemerged in Malaysia regarding a series of strange “charity dinners”.
In 2016 Jessy Lai's Monspace Sky Airline was accused for violating several aviation regulations.
Promotional material for Monspace Sky Airline is reported to have included Zhang.
Circulating on WeChat were also fliers promoting Monspace Sky Airline's trip for tourists from China to Langkawi, which highly featured Zhang holding two thumbs up.
Whenever contacted, Lai declined to remark on the allegations made against her and her airline.
It would appear Zhang is in actually behind Monspace, however to date there has been no official affirmation.
On the administrative front, Monspace was added to the Bank of Malaysia's list ‘of organizations and sites which are neither authorised nor endorsed under the relevant laws and regulations administered by BNM'.
On June first, 2017 the Philippine SEC issued an advisory warning of unapproved venture activity in connection to Monspace.
Read on for a full reirew of the this MLM opportunity.
Monspace Products
The company has no retailable items or services, with affiliates just ready to showcase affiliate membership itself.
The website features various businesses:
- Monspace Mall – an e-commerce platform
- Koperasi Monspace Berhad – “tries to create financial stability for its individuals and community through viable investments and businesses “
- Monspace Sky Communications – “we offer attractive packages of international call rates, data plan and voice call services “
- Monspace City – “a condominium project that satisfies the requirement for luxury urban living “
- Fat Mama Steamboat – “Appreciate Hong Kong's all-time favorite steamboat recipe right at your doorstep at Fat Mama Steamboat”
None of these organizations seem to have anything to do with Monspace's MLM opportunity.
Alexa rankings for the provided corresponding organization sites uncovers there is little activity on any of them.
The Monspace Compensation Plan
Monspace affiliates invest into e-shares on the guarantee of a ROI.
E-shares are useless outside of Monspace. Inside Monspace the organization assigns a value to every e-share.
The affiliates can convert e-shares into a ROI by means of an internal exchange.
A Monspace affiliate invests in e-shares by joining as
- an Ordinary Member (RM 560 or $130 USD)
- a Shareholder (RM 5560 or $1294 USD) or
- a Director (RM 55,560 or $12,937 USD)
Each affiliate membership is packaged with 100 e-shares.
At the point when the internal value of e-shares moves up by “50 to 60 pennies”, Monspace double the measure of e-shares each affiliate has.
Recruitment Commissions
Monspace affiliates are paid to enlist new affiliates
Ordinary Member affiliates get RM 100 ($23 USD) per affiliate recruited.
Shareholder affiliates get RM 100 ($23 USD) per Ordinary Member recruited and RM 1100 ($256 USD) for every Shareholder and Director.
Director affiliates get RM 100 ($23 USD) per Ordinary Member recruited, RM 1100 ($256 USD) for every Shareholder and RM 10,000 ($2328 USD) for every Director.
Residual Recruitment Commissions
Monspace pay residual recruitment commissions by means of a binary compensation structure.
A binary compensation structure puts an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team has two positions. The second level of the binary team is produced by splitting these first two positions into another two positions every (4 positions).
Resulting levels of the binary team are created as required, with each new level housing twice the same number of positions as the past level.
Positions in the binary team are filled by means of direct and indirect recruitment of affiliates. Note that there is no restriction to how deep a binary team can develop.
Residual recruitment commissions are paid out based on generated pairs of the binary team. That is one affiliate on the left side combined with one affiliate on the right side.
Monspace affiliates are paid based on new pairs daily. The amount of residual recruitment commission they get depends on the amount they contributed:
- Ordinary Member affiliates are paid RM 300 ($70 USD) per pair on their initial five binary team levels and RM 50 ($12 USD) per pair from level 6 onward
- Shareholder affiliates get RM 3300 ($768 USD) per pair on their initial five binary team levels and RM 550 ($128 USD) per pair from level 6 onward (sets of Ordinary Members as above)
- Director affiliates get RM 30,000 ($6985 USD) per pair on their initial five binary team levels and RM 5000 ($1164 USD) per pair from level 6 onward (sets of Ordinary Members and Shareholders as above)
Both Ordinary Member and Shareholder affiliate binary commissions are capped at 10 pairs per day.
This cap can be expanded to 60 pairs every endless supply of a “upgrade” expense. Monspace does not determine how much the upgrade expense is in their compensation plan material.
Equity Warrant
Monspace Shareholder affiliates gets
5 lots of equity warrant for Monspace Agriculture which will be recorded in OTC NASDAQ U.S. on 14th of May 2017.
On the off chance that an affiliate invests into five Shareholder positions, they will get 50 equity warrant positions.
Monspace guarantees every equity warrant will at first have an value of $5000.
The Directors get “50 IPO for Monspace Agriculture”. On the off chance that three Director Positions are acquired that increases to “200 IPO”. No additional data is given.
At the time of publication (July 2017) there is no listing on NASDAQ for Monspace Agriculture.
MSCoins
Affiliates can invest into MSCoins.
MSCoins are charged as a crypto currency, nonetheless are yet another layer of non-freely tradable points.
Monspace set the estimation of MSCoins. For now affiliates are only able to invest into MSCoin and watch numbers in their back-offices develop.
They have advised affiliates they will be able to cash out their MSCoins through an internal exchange by September, 2017.
Joining Monspace
The affiliate membership is either RM 560 ($130 USD) as an Ordinary Member, RM 5560 ($1294 USD) for a Shareholder position or RM 55,560 ($12,937 USD) for a Director position.
The essential distinction between the two membership alternatives are income potential through the Monspace compensation plan.
Bottom Line?
In spite of the flashy introduction, the company is little more than a virtual share Ponzi scheme.
The affiliates invest and are given e-shares. The company changes the internal value of the e- shares and affiliates put in ROI requests through Monspace.
Periodically the company doubles the measure of e-shares each affiliate has, which is clearly not reasonable.
The main verifiable source of revenue entering this company is affiliate investment, of which to pay affiliate ROIs makes Monspace a Ponzi scheme.
The included organizations don't seem to be doing any huge business. What little revenue may be produced would give off an impression of being members (zero interest from the general public).
While there's no listing for Monspace Agriculture in the US, there is a posting for Mon Space Net Inc in the SEC's Edgar database.
The address given in the registration differs to that on the Monspace site, however the business description mentions Monspace Mall
Joined on December 31, 2015 under the laws of the State of Nevada, Mon Space Net Inc. (“Mon Space”) plans to assemble an online commercial center that will be made to pitch item and services to its individuals utilizing a business to business to consumer model (B2B2C).
Concerning our business, we intend to build an online platform that enables the clients to be “merchants” and in addition “shopper” at the same time.
We intend to dispatch “Mon Space Mall”, an online platform that would permit 3rd party vendors and individual users, to sell their general merchandise and services directly to other users on our platform.
Monspace Fee
We intend to charge the dealers an service fee of roughly 3% of the total price tag as for their merchandise sold through our site.
We likewise plan to create revenue through from third-party merchants on the off chance that they promote items through our site.
third-party merchants utilize our site to publicize and offer their products, oversee client information, and track requests and shipments. Buyers shop on the web and pay for items and services through the system.
Along these lines, we don't purchase, hold, or sell any inventory. Moreover, as we start to collect an large base of membership for our site, we intend to negotiate with merchandisers and source quality items at a discount not accessible anyplace else for our users.
Strangely Monspace has enlisted itself with the SEC under the “Administrations COMPUTER PROGRAMMING, DATA PROCESSING, ETC.” category.
There is no say of the MLM compensation plan or e-shares offering.
Regardless of whether Mon Space Net Inc should be a substitute of Monspace Agriculture is unclear. Mon Space Net Inc has 390,000 shares of common stock, esteemed at $0.001 per share.
A long way from the projected $5000 per share value Monspace are soliciting investment with.
From MonSpace Net Inc's July seventh, 2016 Form S-1 filing;
We as of now plan to retain any future earnings for use in the operation and extension of our business.
Appropriately, we don't hope to pay any profits within a reasonable time-frame, however will review this policy as circumstances dictate.
Jessy Lai's real name in the meantime seems to be Lai Chai Suang, according to the Mon Space Net Inc official statements;
Lai Chai Suang – Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary
Musa Bin Hassan – President
Low Koon Poh – Director
Chan Foo Weng – Director
Musa Bin Hassan is particular interest, as he's a former Inspector General of the Malaysian police.
How a previous officer who held the most highest rank in the Malaysian police force ended up as President of a Ponzi scheme is unknown.
As far as concerns them, Monspace claim
The previous IGP has no connections with MonSpace. He is the leader of MonSpace Net Inc, which is the listed company.
With respect to all the MonSpace organizations in Malaysia, he is not included in any of these.
As per dissection of the SEC filings of Monspace Net Inc anyway, they are all a similar organizations.
In spite of asserting to “as of now have more than 8.1 million individuals WORLDWIDE”, MonSpace Net Inc has recorded a net loss of $14,176 in 2017 as of March, 2017.
The Company has not yet created any income since its beginning and has operating losses of $14,176 for the three months ended March 31, 2017.
No incomes from the sale of e-shares or Monspace Agriculture equity warrants.
Which is weird, as the company claims to have “generated 30,000 millionaires in China”.
In spite of the securities offering by method for e-offers and MSCoins, Jessy Lai demands the company is not an investment opportunity.
We are not a investment organization. rather, we are an e-commerce organization, as Lazada or TaoBao.
Monspace – Our Conclusion
Now you may be considering; obvious Ponzi scheme, dodgy SEC registration … so uh, why haven't the SEC made any move?
Monspace are right now soliciting investment across Malaysia and the Philippines. They have no business activities in the US.
Monspace joined in Nevada in late 2015 and started documenting with the SEC in March, 2016.
Prior April, 2017 be that as it may, interest for Monspace as a MLM opportunity was non-existent.
It is just recently the organization has picked up momentum, and after it’s all said and done traffic estimates show a flat-line from May.
In the event that Monspace takes off in Malaysia probably someone at the SEC will eventually open an investigation and look into the Mon Space Net Inc registration.
Until at that point, similar to all Ponzi schemes, once the company comes up short on recently invested funds to fuel their e-share virtual share scam, the plan will crumple.
Similarly as with YSLM, upon collapse once again the majority of Monspace affiliates will lose cash.
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