By now all of the mPowerTec MAP owners should have got the update from mPowerTec regarding the current happenings. mPowerTec CEO together with new partner - Consorteum had an explanation tour to the large Canadian centers and showed the plans and steps they are taking to ensure the company stability and investors revenues.
I have attended the meeting in Montreal
I won't repeat all I heard. MAP owners had an opportunity to join the meeting themselves or to listen to the conference call in case they missed the event.
Main points though are as follows:
- mPowerTec will act as ISO, meaning sales and acquisitions will be made by mPowerTec itself thus eliminating the third party and the unnecessary expences.
- The cost for the new owners will be determined by the account profitability. In most cases the cost will be $2500 instead of $3500 previously.
- The existing MAP owners that paid $3500 will have 2 more years added to their contract (remember, there is $500 per year renewal fee after the 4 years end, so this 2 years extension compensate you for the difference in cost).
- Previously mPowerTec promissed half year extension for the existing MAP owners. All together the contract will be extended to 6 and half years (4 years contract + half year promised before + 2 years cost compensation extension)
- The model is approved by the lawyers as "Creative" Franchise model. Any new purchase of the MAP terminal will be binded by franchising agreement between parties.
I hope you all understand the tax advantages of this compared to the regular investment.
- The residual payments scheduled to be renewed as of mid September. This doesn't mean all MAP owners will get the payment in September. The big accounts such as Coffee Time, Taxi and Dominos Pizza will most probably be active by September. Others might use some patience.
- Merchants contracting with mPowerTec will commit to the minimum volume of transactions thus eliminating the investors risk of underpayment.
My thoughts about all this?
Well, I believe mPowerTec is on the right track. Consorteum is a well known industry leader in Management Consulting with more than 40 years of combined experience. Together with other partners like Hypercom, Paymentech and others they have real strenght in the market.
The model is sound and the team is eager to prove its reliability to the investors.
I have personally spoke to Jennifer Fernandes (mPowerTec CEO) and I believe that mPowerTec is there to stay. I and my company plan to become a sales channel for mPowerTec as soon as the payments are renewed and the compensation model is clear.
But this is a topic for the separate update.
Stay tuned.
Slava.
Saturday, June 30, 2007
Wednesday, March 07, 2007
WebNet update
Received my first Royalty check for 3 months period.
Not something to be very proud about - only $72 (on $5000 investment).
The company published its' expansion plans for the nearest future. I can't post it here before I get their permission for that. One thing they expect is that all investors will cash out during 2007 and the sky is the limit afterwards.
The sales and marketing are very solid and the contracts are promising.
I know that return does not look staggering meanwhile, but this is the case with almost any star that becomes a comet. It begins modestly and develops into something huge.
If you are interested in this opportunity, contact me at slavas@pocketfullofsecrets.com
Not something to be very proud about - only $72 (on $5000 investment).
The company published its' expansion plans for the nearest future. I can't post it here before I get their permission for that. One thing they expect is that all investors will cash out during 2007 and the sky is the limit afterwards.
The sales and marketing are very solid and the contracts are promising.
I know that return does not look staggering meanwhile, but this is the case with almost any star that becomes a comet. It begins modestly and develops into something huge.
If you are interested in this opportunity, contact me at slavas@pocketfullofsecrets.com
Tuesday, January 30, 2007
mPowerTec update
mPowerTec have cut the agreement with one of its strategic partners, namely Affinity.
I contacted the mPowerTec to ask why I haven't received my January check and was said that mPoerTec have moved to another vendor. They issued the letter to all investors and promised to set all inactive terminals in 60 days period. Meanwhile NO late setup fee will be paid to owners. As a compensation mPowerTec prolongs the owners agreement by additional 4 months.
I don't know who is the new vendor/partner for mPowerTec and how strong marketing system and proven record it has. That is why my advise for now is wait and see where it goes.
I contacted the mPowerTec to ask why I haven't received my January check and was said that mPoerTec have moved to another vendor. They issued the letter to all investors and promised to set all inactive terminals in 60 days period. Meanwhile NO late setup fee will be paid to owners. As a compensation mPowerTec prolongs the owners agreement by additional 4 months.
I don't know who is the new vendor/partner for mPowerTec and how strong marketing system and proven record it has. That is why my advise for now is wait and see where it goes.
Thursday, January 04, 2007
Real Estate
I have more and more questions sent to my private email regarding Real Estate investing (which drives me to a conclusion that I really need to create an organized website with forum).
Most of the questions are "Why don't you post about RE investing?" and "What would be your recommendation?"
Well, guys and gals, honestly, I am not invested in RE yet and, as promised, I only post about things I personally do.
RE is definitely in my plans for the future. I plan to create a steady monthly passive cash flow before I turn to RE investments. And the reason is that I would prefer to invest in multi-family houses or in the raw land rather than into a single-family dwellings. Multi-family dwellings give you more or less steady cash flow, but require higher downpayment, while land is relatively cheap, but might actually take cash from your pocket for a couple of months.
Although I am not in Real Estate yet, I do have connections with RE companies in Alberta and Ontario. The company in Alberta looks for investors capital from $50000 and up. The company in Ontario is a management company that buys condominium houses and vacation properties in selected areas where the prices are expected to go up. The downpayment there might be as low as $10000.
If you are interested to know more, drop me an email to slavasrfp@yahoo.ca
Slava.
Most of the questions are "Why don't you post about RE investing?" and "What would be your recommendation?"
Well, guys and gals, honestly, I am not invested in RE yet and, as promised, I only post about things I personally do.
RE is definitely in my plans for the future. I plan to create a steady monthly passive cash flow before I turn to RE investments. And the reason is that I would prefer to invest in multi-family houses or in the raw land rather than into a single-family dwellings. Multi-family dwellings give you more or less steady cash flow, but require higher downpayment, while land is relatively cheap, but might actually take cash from your pocket for a couple of months.
Although I am not in Real Estate yet, I do have connections with RE companies in Alberta and Ontario. The company in Alberta looks for investors capital from $50000 and up. The company in Ontario is a management company that buys condominium houses and vacation properties in selected areas where the prices are expected to go up. The downpayment there might be as low as $10000.
If you are interested to know more, drop me an email to slavasrfp@yahoo.ca
Slava.
Subscribe to:
Posts (Atom)
