This isn’t your normal BehindMLM review since MyCOM purposely omits specifics about their MLM potential in their marketing.
Hiding information is a typical occurrence across the numerous aspects of parent firm Tesora Financial’s business, which made compiling this evaluation difficult.
For that reason alone, I would advise against MyCOM and Tesora Financial. MLM firms will only go to such efforts to conceal facts if they are up to no good.
Continue reading to find out what MyCOM and Tesora Financial are up to.
Jaime Villagomez is the founder and CEO of MyCOM.
Villagomez is also the founder and CEO of Tesora Financial Group (dba Tesora International) and its subsidiaries.
Villagomez is the founder and CEO of MyCOM and Tesora Financial Group in Utah, USA.
MyCOM was founded in 2017 as an MLM ecomeCommercetform.
Here’s how it’s going four years later:
Every quantifiable indicator indicates that MyCOM’s marketplace is a failure. As a result, it’s not unexpected that Tesora Financial and Villagomez have hopped on the cryptocurrency bandwagon.
But before we get there, let me explain what MyCOM is all about.
You’re looking at a closed eCommerce portal with cashback. Instead of payback, affiliates, consumers, and companies are compensated in COMS, which Villagomez emphasizes is “not a cryptocurrency.”
That’s deceptive because there appears to have been a crypto component to COM points at some point:
Aside from that distinction, COMS might just as well be a MyCOM coin.
When retail consumers buy things from MyCOM’s empty marketplace, they get COMS. They are unable to cash them out.
Retailers are compensated in COMS, which they may exchange for cash.
It is unclear whether MyCOM affiliates can pay out COMS, although it is probable that they can (hush hush).
Oh, and COMS may be directly invested in for some reason, which makes no sense other than as a money spinner for MyCOM.
On the MLM front, it is unclear if commissions are paid on MyCOM investments.
What we do know is that MyCOM charges merchant fees, which pay the cashback (dubbed “share back” for obvious reasons).
com retains 30% of the payback fee earned from the merchant and pays the remaining 70%.
30% to the buyer and 1% to 4% to the recommending MyCOM affiliate (depending on how much they pay in fees).
4% goes to the store’s MyCOM Pro Advisor.
15% is allocated to “regional managers.”
20% by way of a ten-level deep unilevel team
MyCOM purposefully conceals this unilevel compensation system. It’s nowhere to be seen on the internet or in their marketing videos.
com does not wish to be perceived as an MLM firm, according to the evidence I’ve seen. They believe this will put them in a better position to recruit retailers (see screenshot above, things are looking up).
Aside from questionable business tactics, MyCOM’s Marketplace collapsed due to an outmoded model.
com charges clients for access on a three-tiered scale:
Basic – free of charge
In addition – $60 per year
VIP – $120 per year
The more your payment, the more COM points you can gain.
Oh, and you must be suggested by a current MyCOM associate as a potential customer.
That’s in comparison to the plethora of free applications and browser cashback/voucher extensions, many of which offer far greater coverage of accessible merchants.
There are no costs, no restrictions on ecosystems to join, and some even provide cashback.
That is the business model against which MyCOM’s Marketplace competes. So it’s no surprise that the notion failed.
Every MLM eCommerce cashback platform’s Achilles’ heel is this. Fees must be levied somewhere or there will be no commissions to pay out.
com charges the following affiliate fees:
Business Consultant – $360 per year
Professional Representative – $600 per year
MyPoint Pro – $900 per year
Again, how much you spend has a direct influence on your earning potential.
MyCOM’s business fees are as follows:
Share back Plus – $100 yearly, capped at $50,000 Share back VIP – $300 annually, capped at $150,000 Share back Free – no fee, capped at $500 Share back
The same thing happened.
MyPoint membership is $900 per year or $75 per month. It looks to be a membership fee just to “increase your earning potential.”
It is unclear whether commissions are paid on the aforementioned membership costs. I’d guess so, because otherwise, what else is MyCOM doing with those fees?
Anyway, now that we’ve established what MyCOM is and why it failed, let’s move on to Tesora Financial’s next phase: crypto shitcoins.
Tesora Financial has a plethora of shell businesses, just a handful of which have been expounded on.
The main firms we’ll discuss are Bitcoin Trust, Tesora Trust, Tesora Custody, and Tesora Exchange.
Bitcoin Trust is Tesora Financial’s principal shitcoin.
Bitcoin Trust (BCT) is an ERC-20 shitcoin, according to the company’s plan.
ERC-20 shitcoins can be created in around five minutes on the Ethereum blockchain for little to no cost.
com affiliates can invest in BCT directly through their back office.
Tesora Financial offers BCT to affiliates for 0.9994 USDT per, according to the preceding sample from Jaime Villagomez’s back-office.
According to Tesora Financial’s marketing, the key motive for BCT investment is the expectation that affiliate investors would eventually be able to withdraw more than they invested.
I was unable to determine whether commissions are paid on BCT investments due to the aforementioned confidentiality.
BCT is parked with the corporation after it is invested. Tesora Financial compensates affiliate investors with additional BTC in return for this. The internal value rises, and associates profit more than they invested.
In other words, BCT is a standard MLM cryptocurrency passive investment scheme.
This includes a shitcoin factory (why stop at one shitcoin? ), ostensibly linked to themed smart contracts.
“Mobility token” is one of these shit tokens:
My ECOM offers “you can drive your dream automobile, for free” in a mobility token commercial film posted in August 2020.
Affiliates invest in mobility tokens, receive additional mobility tokens in exchange, cash out other people’s money, and use that money to pay off the auto loan.
Tesora Financial’s website lists the mobility token concept under “AutoMobility.”
There is a link to another website, “automobility. it,” on that page.
Auto Mobility, as far as I can determine, is an independent Italian company that precedes MyCOM.
Naturally, there is no mention of a mobility token on the Auto Mobility website.
The only mention I could find was a post from August 2020 on Auto Mobility’s official Facebook page.
Interestingly, Auto Mobility doesn’t plaster free automobiles all over its website.
Other crap tokens with a theme of Tesora Financial promote entrepreneurship (power start) and real estate (powerhouse). Invest in tokens, park tokens, get more tokens, cash out – free everything.
Tesora Trust is a relatively unknown passive investing possibility. It is mentioned on myCOM’s website, although the corporation is purposefully vague regarding the details:
“Holding assets” seems like another way to park tokens, obtain additional tokens, and cash out.
The referenced website domain, “tesora.io,” is inoperable.
Tesora Custody is a bitcoin investment opportunity that is available through my ICOM.
Put your bitcoin in Tesora Custody and you’ll get additional coins!
It makes no sense to keep your bitcoins without trading them; instead, put them on deposit and have them work for you!
Sounds like a typical Ponzi scam gimmick in cryptocurrency trading.
Finally, there is “Mining Farm by Tesora Group,” which is a passive investment option.
Tesora Group’s Mining Farm allows community members to participate without having to handle the technology by using Tesora coins [sic].
This is the sole mention of a “resort token” I found.
Tesora Financial Group and Jaime Villagomez have formed and are marketing several securities offerings by offering multiple passive investment possibilities through their MLM opportunity or elsewhere.
With all of this happening in the United States, my ICOM and Tesora Financial Group must register their securities offerings with the Securities and Exchange Commission (SEC).
The SEC has not registered MyCOM, Tesora Financial Group, any of the known shell firms, or Jamie Villagomez.
And now you see why everything is kept hidden and softly marketed behind closed doors.
com is a failed e-commerce platform MLM company that conceals the fact that it is an MLM company; parent company Tesora Financial Group has jumped on the crypto bandwagon, launching several passive investment schemes; neither myCOM nor Tesora Financial Group is registered with the SEC, indicating that the company is committing securities fraud and operating illegally.
You know the routine. This will not end nicely.