Wake Up Now Scam : Why it's Going Under
The Current situation for The Wake Up Now Scam
Almost a Year ago, I released an article detailing the Wake Up Now Scam and why it wasn't a good investment for someone to get involved in. Today, with many Hiccups in the company ranging from reps not being paid, to the CEO leaving, the signs of Wake Up Now being on its way out are clear.
If you Haven't read my previous article on Wake Up Now, click the link below.
- Wake Up Now scam : Beware the obvious trap
An actual in-depth look at the Wake Up Now system that isn't designed to trick you into buying into the company.
Wake Up Now CEO has left after years of the company losing millions a year.
While a CEO leaving a company doesn't always indicate that a company is going under, Mr. Kochran's ( the previous Wake Up Now CEO) Track history with Companies is sketchy at best. His last company, Castle Arch Real estate, Filed for Bankruptcy with over $40 million dollars in debt. this was also following a $15 million dollar lawsuit against the company for racketeering and breach of contract and other charges.
With Wake Up Now's Deficit reaching nearly $15 million, it would seem Mr. Cochran knew when to pull out.
Wake up now Hasn't been paying Reps for months.
For what can be called a financial mishap, The company hasn't been paying it's reps for months due to "scammers" in the system.
"We're still recovering from damage done by gamers and scammers. Prepaid cards and chargebacks (along with the need to support international growth) led us to international merchant processing which = higher fees, delayed processing, and a multi-million dollar rolling reserve (i.e., OUR money we can't touch). " - Wake Up Now Corporate statement.
Many top reps have since then left wake up now and forfeited payment owed due to a drop in their volumes and from not being paid commissions that they are owed. As of the writing of this article, Wake Up Now has not released any official statement on when or if they plan on paying the back commission owed for reps still involved with the company.
errors that contribute to reps leaving also include system errors that have been going on for over a year and merchant problems for at least 7 months. While Wake Up Now has stated that they have taken actions to correct these issues ( paying outside companies to redesign the website, obtaining more warehouses to increase shipping speed) they still have not solved the problems of paying reps what they are owed.
Some believe this is a tact to get reps to leave to help the deficit Wake Up Now has, since the highest cost of their company was the commissions they had to pay out. This would mean Wake Up Now would no longer have to pay them after they left, which would decrease money owed. Wake Up Now has not released a statement addressing this either.
A top leader explains why she left Wake Up Now and what has been going on in the company.
The stock has been dead in the water for several months.
As of today, The Wake Up Now stock has been around a steady $1.02 , more than ten times less than when it was at $10.70 less than a year ago. Investors Clearly don't have faith in the company when it's Value falls more than 1000% in less than a year. This shows signs of a pump and dump scheme, especially since Wake Up Now is a penny stock company.
They also have a 96% chance of Bankruptcy according to macroaxis.com which states the following :
"Based on latest financial disclosure Wake Up Now Inc has Probability Of Bankruptcy of 96%. This is much higher than that of the sector, and significantly higher than that of Probability Of Bankruptcy industry, The Probability Of Bankruptcy for all stocks is over 1000% lower than the firm."
Trending reports show interest is falling
Both Goggle trends and mlmrankings.com show that searches regarding Wake Up Now are falling to the lowest points they have been in months, which indicates that interest in the company is dwindling.
They still have that Deficit
with the high deficit still in effect, it is unlikely Wake Up Now will be able to pay off it's debts and will most likely have to declare bankruptcy.
Wake up now is a sinking ship, With so many hits to it's bow it's going to be nearly impossible for them to come back afloat, if you haven't already, I would still avoid this scheme at all costs and would ask anyone still involved if it's really worth putting your time and effort into a company that isn't even paying you.