PunchTV Studios Reports & Reviews (1)
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SCAMPULSE
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SCAMPULSE
If you know any contact information for PunchTV Studios, help other victims by adding it!
Scammer's address 1201 North La Brea Ave #256 Inglewood CA, Inglewood, CA 90302, USA
Scammer's email [email protected]
Country United States
Victim Location FL 32407, USA
Total money lost $1,076.25
Type of a scam Investment
At this point I started to do some reach on the company and I found out serval things.
#1- PunchTV was banned by SEC and was not allowed to sale any stock starting April 2017
#2- PunchTV forged a guy name on paperwork that was sent to the SEC and pretend the guy was CPA so,this is one reason why PunchTV Studios was banned.
#3-On my contract it states that I can cash stock but now on their website . Per PunchTV Studios it says this:
There are two ways to make money with private shares.
First, you can sell your shares after owning them for a certain period of time to another investor in a private sale. You and the buyer negotiate a price and complete the transaction.
Second, we intend to register your shares with the Securities and Exchange Commission (SEC) within 24 months. Once your shares are registered, you can post them on your online brokerage account and freely trade them with other investors.
#4- Per the contract I signed to own stock it does not say anything about you needing to be accreditor investor but per they website now it says:
You have to be an accredited investor:
An accredited investor as defined by Rule 501 of Regulation D is:
An individual with a net worth (or joint net worth with spouse) in excess of $*** excluding the value of my primary residence;
An individual with an annual income in excess of $*** ($*** combined income) for the last two years and has the expectation to earn the same amount this year;
Is a bank, insurance company, registered investment company, business development company, or a small business investment company;
Is a business entity (corporation, LLC, etc.), a charity, trust, or employment benefit plan, not formed to acquire the offered securities, with assets in excess of $***
#5-PunchTV is continuing to sale stock but at $* per share during the 9 months they were banned from SEC.
#6-To do any trading or personal sales of your stock now you have to use a Trading Agent based out of Canada,which is not stated on your contract because when I signed the contract back in April 2017 during the period they where banned from selling shares it stated that I could cash out my stock,
#7-I see a lot of reviews where people have not received their stock certificate and is being told that they do not need a stock certificate or the company can email you one. Which is not what was told in the beginning per contract that was signed.
#8- There is no customer service once you sign the contract.