Author Avatar

editor

0

Share post:

When I saw an SEC settlement with TruCrowd, I immediately recognized the phrase.

I discovered that I had updated our KulaBrands review with a mention of BehindMLM in 2017 when I searched for it.

At the time, KulaBrands was charging $17.82 per virtual share on TruCrowd.

To draw in investors, KulaBrands touted a “before money valuation” of $17.5 million.

By the end of the share sale on May 2nd, 192 investors had contributed $97,279 to 2020 KulaBrands.

I decided to investigate the KulaBrands product and evaluate its current state after learning about the SEC settlement with TruCrowd, which, to be clear, has nothing to do with KulaBrands.

For those who don’t know, KulaBrands is managed by co-founder Peter Gantner (right).

KulaBrands is just a crowdfunding platform that has been duped into providing an MLM business opportunity (affiliates vote on what to crowdfund and then do the funding).

This manipulation distinguishes itself from conventional crowdfunding by having backers who have a financial stake in the results.

In terms of the KulaBrands concept’s morality, open crowdsourcing decides if a project succeeds or fails based on the general public’s interest. The guiding principle is that sponsors don’t support terrible ideas.

Through KulaBrands, a terrible idea can get funded, with the predicted ROIs acting as the deciding factor rather than the merits of the product or service under consideration.

Anyway, going back to the virtual share offering by KulaBrands, the company announced in September 2017 that it intended to launch a $40,000 IPO.

There has never been anything like it as of January 2022. The KulaBrands company never went public.

Beginning in 2019, KulaBrands unveiled HealX Nutrition, a standalone MLM CBD product.

The Healy Nutrition website is currently unavailable, and orders are “not being processed.”

According to BehindMLM, KulaBrands’ activities resulted in losses of $33,981 in 2016.

The most current annual report for KulaBrands, which was presented in April 2020 for the year 2019, shows that the company lost $330,746.

loss of $51,374 in 2018, an increase. KulaBrands also owes another $500,000 on its “long-term debt.”

In a nutshell, KulaBrands continues to lose money and will keep doing so.

According to Alexa traffic estimations, KulaBrands saw nil internet traffic for the bulk of 2021:

KulaBrands updated their profile photo to reflect the Christmas season on December 9. The date on the preceding post is April 26, 2021.

Would anyone care to comment on who was stupid enough to invest in KulaBrands in 2017? Or was that $97.279 in addition to the loss of all other investments made by people in KulaBrands?

Paraiba World Review Part 2 - Is a Fraud
Rolvi Trading Review - Is a Fraud

Leave a Comment

Your email address will not be published. Required fields are marked *