Due to MyCOM’s deliberate omission of MLM-related information in their advertising, this is not a standard BehindMLM evaluation.
This assessment was difficult to compile due to the frequency with which Tesora Financial, the parent firm, conceals information throughout its different operational divisions.
I would advise you to avoid MyCOM and Tesoro Financial on this premise alone. MLM firms will only go to such efforts to conceal facts when they have nefarious intentions.
To learn just what MyCOM and Tesora Financial are doing, continue reading.
The founder and CEO of MyCOM are Jaime Villagomez.
Villagomez is also the creator and chief executive officer of Tesora Financial Group (dba Tesora International) and all of its affiliated shell corporations.
In Utah, Villagomez operates MyCOM and Tesoro Financial Group.
MyCOM was founded as an eCommerce platform MLM in 2017.
Four years later, the situation is as follows:
The MyCOM marketplace fails in every measurable way. Therefore, it is not unexpected that Tesora Financial and Villagomez have joined the cryptocurrency bandwagon.
Before we get into that, though, I would want to explain what MyCOM is marketed as.
Essentially, you’re looking at a closed e-commerce website that offers cashback. Instead of true money, affiliates, consumers, and companies are compensated in COMS, which, as Villagomez emphasizes, “is not a cryptocurrency.”
However, this is dishonest, as there appears to have been a crypto component to COM points at some point:
Aside from this distinction, COMS may as well be MyCOM’s internal coin.
Retail consumers purchase things from MyCOM’s empty marketplace and get COMS. They cannot be cashed out.
Retailers are compensated in COMS, which may be cashed out.
It is not indicated if MyCOM affiliates can pay out COMS, which presumably suggests they can (hush hush).
Oh, and for some inexplicable reason, COMS may be directly invested in, which serves no use other than to generate revenue for MyCOM.
On the MLM side of things, it is not mentioned if commissions are paid on MyCOM investments.
What we do know is that MyCOM charges fees to merchants, which finances the cashback (referred to as “chargeback” because of the funding mechanism).
com retains 30% of the cashback fee collected from the merchant and pays the remaining 70% to the merchant.
30% to the consumer; 1% to 4% to the recommending MyCOM affiliate (depending on the number of fees paid).
4% to the store’s allocated MyCOM Pro Advisor
15% to “regional managers”
20% of a deep ten-level unilevel squad
MyCOM conceals this unilevel compensation system on purpose. You won’t find it on their website or in their promotional videos.
The reason claimed for the deceit is that MyCOM does not want to be perceived as a multi-level marketing organization. They believe that this will improve their ability to recruit retailers (see screenshot above; things are going nicely).
Aside from shady business methods, MyCOM’s Marketplace collapsed due to an obsolete business strategy.
MyCOM bases its access fees on a three-tier pricing structure:
Basic – no cost
Plus – $60 per year
VIP – $120 per year
You may get more COM points the more you spend.
Additionally, as a prospective client, you must be introduced by an existing MyCOM affiliate.
This is competing with a plethora of free applications and browser cashback/voucher extensions, many of which offer much greater merchant coverage.
There are no fees, no ecosystem restrictions, and some even give cash back.
Against this is MyCOM’s Marketplace business model battling. So it is not surprising that the idea failed.
This is the Achilles’ heel of every MLM cashback platform for eCommerce. Fees must be levied someplace, or commissions cannot be paid out.
Regarding affiliate fees, MyCOM charges the following:
Consultant in business – $360 yearly
Professional Representative – $600
MyPoint Pro – $900 per year
Again, spending directly influences earning potential.
These are MyCOM’s business fees:
Free – no fee, maximum of $500 Share back Plus – $100 per year, maximum of $50,000 Share back VIP – $300 per year, maximum of $150,000 Share back
A MyPoint membership costs $900 per year or $75 per month. It looks to be a membership fee designed just to increase your revenue potential.
Commissions on the aforementioned membership fees are not revealed. I would suppose so; what else could MyCOM be doing with such fees?
Let’s move on to the next phase of Tesora Financial: crypto shitcoins, now that we’ve established what MyCOM is and why it failed.
There are a large number of shell businesses under Tesora Financial, but only a few have been detailed.
Bitcoin Trust, Tesora Trust, Tesora Custody, and Tesora Exchange are the key companies that we will refer to.
Bitcoin Trust is the primary shitcoin of Tesora Financial.
According to the company’s plan, Bitcoin Trust (BCT) is a worthless ERC-20 token.
On the Ethereum blockchain, ERC-20 shitcoins may be created at minimal expense in five minutes.
Affiliates of MyCOM invest directly in BCT via their back office.
According to Jaime Villagomez’s back-office example, Tesora Financial offers BCT to affiliates for 0.9994 USDT apiece.
According to Tesora Financial’s marketing, the key rationale for BCT investment is the inference that affiliate investors would eventually be able to withdraw more than they initially invested.
Due to the aforementioned confidentiality, I was unable to determine if BCT investments pay commissions.
Once BCT has been invested, it is parked with the firm. In exchange, Tesora Financial pays affiliate investors with more Bitcoin. The internal value increases, allowing affiliates to withdraw more than they initially invested.
In other words, BCT is a conventional passive investment crypto MLM scheme.
Built within this is a shitcoin factory (why stop at one? ), ostensibly connected to themed smart contracts.
A mobility token is one of these crap tokens.
In an August 2020 mobility token promotional film, My ECOM asserts, “You can drive your ideal automobile for free.”
Affiliates would invest in mobility tokens, receive additional mobility tokens in return, cash out other people’s money, and use it to pay off the auto loan.
The mobility token program is described on Tesora Financial’s website under the heading “AutoMobility.”
There you will discover a link to the “automobility. it” website.
Auto Mobility appears to be an independent Italian company that predates MyCOM.
There is no mention of a mobility token on the Auto Mobility website.
The only mention I could find was a single August 2020 post on Auto Mobility’s official Facebook page.
Weirdly, Auto Mobility does not advertise free automobiles on its website.
Additional themed feces tokens Tesora Financial is a business startup (power start) and real estate investment company (powerhouse). Same foolishness, invest in tokens, park tokens, receive additional tokens, and cash out – everything is free.
Tesora Trust is a covert option for passive investing. It has a spot on the myCOM website, however, the corporation is purposefully vague about the specifics:
“Holding assets” seems like just another way to store tokens, acquire additional tokens, and cash out.
The connected website domain “tesora.io” is invalid.
Tesora Custody is a possibility for passive bitcoin investing that can be accessed through my ICOM.
Deposit your bitcoins with Tesora Custody to get more coins
There is no use in having bitcoins without trading them; instead, deposit them and put them to work!
This sounds like a standard crypto trading Ponzi scheme.
Finally, we have “Mining Farm by Tesoro Group,” an additional potential for passive investment.
Mining Farm by Tesora Group allows community members to participate through Tesora tokens without having to handle the technology.
This is the sole mention of a “resort token” I could find.
Tesora Financial Group and Jaime Villagomez have developed and are pushing various securities offerings by providing multiple passive investment options through their MLM opportunity or elsewhere.
In light of all that has transpired in the United States, my ICOM and Tesora Financial Group must register their securities offerings with the SEC.
Jamie Villagomez, MyCOM, Tesora Financial Group, or any of the known shell firms are not SEC-registered.
And now you see why all of this is kept secret and sold quietly 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 SEC-registered, meaning the company is committing securities fraud and operating illegally.
You understand the procedure. This will end badly.