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AGLOCO Admits They Won’t Pay
I really thought that I’d finished writing about AGLOCO.After my last post on AGLOCO, I thought, “That’s enough about AGLOCO, I’ll turn my attention elsewhere…I’ve written all that I felt I needed to write”.
Never mind that AGLOCO has taken close to six months to “develop” the Viewbar and they still don’t have a fixed release date. Never mind that continued delays make the company appear to be the biggest ‘inside joke’ the internet has seen.
They’ve finally admitted on the AGLOCO official blog that they won’t be paying a cent in the short term:
“AGLOCO’s early revenue will not immediately translate into cash distributions to Members. While we do not know how large our initial revenue will be, we do know that AGLOCO has operating costs to pay. It is important to remember that AGLOCO is not a “get rich quick schemeâ€, and we maintain that the most prudent way to build AGLOCO as a sustainable company is to calibrate Member distributions to company earnings. As such, the cash payouts will not begin until there is a comfortable balance between AGLOCO’s free cash flow and AGLOCO’s expenses.”
Sounds reasonable on the surface, doesn’t it? But look a little deeper. Six months in development with no release date and now they’re finally coming out and saying that you won’t make money in the short term. Sounds like a bit of panic? If they’d said this right from the beginning they’d have a lot more credibility in my books, but saying it now after thousands have joined makes it sound a lot more like the scam that I believe it is.
Why wasn’t this fact said right from the beginning? Less would have joined. This lack of disclosure rings scam alarm bells in my mind.It also raises quite a few more interesting questions. AGLOCO’s big marketing tool is that it will be “owned by the members” - so will it’s revenue and earnings be made available immediately to the members? Will the members be able to track company revenues and costs? Who will decide how much and when members will get paid?
Many of the most important questions relate to their accounting policies and what actually constitutes a ‘free cash flow’? How much will be put into the hands of management and founders before the remains are considered to be the ‘free cash flow’ available to the members? What percentage of earnings will the company put in reserve to subsequently lessen the ‘free cash flow’? For a company looking to go public, why haven’t these questions already been answered?
Ultimately, the question that I’d love to have answered is why it takes six months to develop a piece of software when a lot of the coding already existed via the AllAdvantage Viewbar?
I predict that the consequences of not paying immediately will have dire consequences for AGLOCO. Many will download the Viewbar when it’s released, but if people aren’t making money that they can easily see and track right from the beginning it will be deleted quite quickly.
How long would you endure looking at more ads in the hope you might be paid before you clicked the ‘uninstall’ button?
Give me a break AGLOCO - you’ve been promoting how members will get paid to use the Viewbar since the beginning and now you’ve done a backflip and said that you won’t pay. Stop looking like a scam and answer these questions! Please let this be the last AGLOCO post on this site!
Rich people subscribe to Cash Quests
There are two kinds of companies that use the term “This is not a get rich quick scheme.”
The first it the type that takes work to make money, but does make money once you put the work into it.
The second, you simple cannot make money with. That is why it is not a “get rich quick” scheme. Usually, there is not work involved either.
You can decide which one Agloco leans towards.
by James
James - Great point! Any company that feels the need to say it before it has even really started can’t be too confident about making money! The cracks are starting to appear!
Kumiko
by Kumiko
That’s pretty lame…kind of expected, with the reading I’ve been doing about it though…
Damn, who wants to buy my agloco123.com domain?
by Joshua
Care to share how you like the SlashMySearch and WorxConnexxions? How long did it take you to earn the amount of money you posted on your page from them?
by IntelliGenius
Thats true IntelliGenius….. lets just sidestep AGLOCO and point fingers about SlashMySearch. It is weird how you (Kumiko) were so into SlashMySearch but not AGLOCO.
What ever the score these posts are doing wonders for your blog.
Its time to play the waiting game for AGLOCO. Again,….
by matt608
Matt - You’re right. There are some definite similarities between SlashMySearch and AGLOCO. I chose to support SMS initially as it was running, offered a service and appeared to have potential.
AGLOCO was not running, failed in the past and didn’t offer a service.
I feel really let down by how bad SMS is.
Kumiko
Kumiko
by Kumiko
Hmmmm Kumiko, had you done your due diligence, you would have known that AGLOCO has been saying this all all along. Its always been posted on your site. Maybe you need to do your homework.
by Jeff
Jeff - I’m assuming you mean posted on their site?
And I assume you’re referencing the “As AGLOCO grows and the company generates positive cash flow, we will be distributing the excess cash to Members..” part of their site?
So you’re not telling me I’m wrong, just that it’s outdated? I guess I should change the title to “AGLOCO Admitted A Long Time Ago That They Won’t Pay!”
Kumiko
by Kumiko
you’re sounding a bit bitter and petulant, Kumiko, since you realized you weren’t delivering “breaking news”.
by Jeff
Jeff - If you read that as bitter then I’m sorry that you misread it! I was just trying to clear up what you were referencing. No bitterness intended!
I think the new statement from AGLOCO is quite a step away from what they’ve previously said. Before they were saying, “AS AGLOCO grows..” which to me implied that people would be paid at the same time as the company grew - and they were sure it was going to happen. Now they’re saying more of a ‘we’ll pay you if and when we’ve grown enough to afford to do so’.
Good luck with your AGLOCO site Jeff!
Kumiko
by Kumiko
Does this mean I won’t be getting rich quick??
by swollenpickles
Swollenpickles - Haha! Sorry to break the bad news, but I think it does!
Kumiko
by Kumiko
You don’t hate Agloco as much as I like your blog
Anyway, I nominated you at Blogger’s Choice Awards. Check it out:
http://www.bloggerschoiceawards.com/blogs/show/4154
http://www.bloggerschoiceawards.com/blogs/show/4156
http://www.bloggerschoiceawards.com/blogs/show/4155
by Alex
sending you a little traffic from steve pavlina’s forums, hopefully.
Kenneth
by investorblogger
You’re doing fine there, gal.
by Markk
Before I read your breaking news update, I already have in my mind something will go wrong to this company. Simply I still can’t understand what is the business model of this company.
It reminds me the early day when I enter internet marketing, I joined some paid-to-surf program, I was making a lot of $$$ but end up losing all at the end.
Agloco is just another company like Studio Traffic, 12DP, Swiss Cash, etc… you name it, they are plenty of them. Time will proof that …
Don’t get me wrong, I am not blaming these companies, as they did bring me profit in early day.
My advise to you, join the companies early if you want to make profit, at this point of time, if you still want to join & promote Algoco, don’t invest your own $$$… use their $$$ to make $$$… (At least this is the minimum I can advise being the fact that, a lot of people have the spirit of KamiKaze, you know what I mean here).
by Steven
“Simply I still can’t understand what is the business model of this company.”
check this out:
What Everyone Ought to Know About Agloco
its from DIGG
by TJ
Thanks. I’ll check it out.
by Cash Quests
I got rid of my Agloco referral link after a few weeks of no activity, so I don’t lose anything except my time for reading their grand masterplan for listing on the London Stock Exchange.
For SMS, they really suck. I did my own tracking on my earnings for about an hour - and posted my findings on my site. Totally unscientific, I admit but SMS’s methods are equally unscientific with no clear means of calculating earnings.
by emigre
We all know that Agloco did not say its a get rich scheme. But i m not too sure about the
Agloco shares and Agloco dividends happening anytime soon.
Until we have the chance to monetise, everything else is surreal.
by Allan
Finally they released its viewbar, but the main site still isnt stable. Hard to sign-up ppl under this situation…
by agloco sg
Does anyone remember a site name “Juice Boosted” ? This is same as Agloco , takes month to launch then disappear like the wind. Scam !!!
by Nurulazmi
Lol…wow..
by John
well guys, i have the viewbar, i have referrals, and i am clicking ads and doing searches. i am willing to give these guys a chance. i mean, whats the harm in it if eventually they may start paying out? i mean, honestly, i can use even an extra 50 cents a month, and i won’t complain about getting it. just because you won’t make mad money off of it does NOT mean that its an EVIL SCAM. they openly say that the’ll pay you, they never say how much, and it should be realized that that means that they won’t pay you much… so what? honestly guys, give these guys a chance. if they fuck up, then they fuck up, but give them a chance to DO so before bitching about it.
by Spike
Actually, I like the idea of warning people so that they don’t waste their time.
Signing up lots of peple and THEN revealing that you’re not going to pay for a long time is one of the signs of a scam. It may not be one, but it sure looks like one.
by Princess Kumiko
i knew this would happen with Agloco, so i quit using it 3 months back.. Well done Eliena
by Eliena
ALGOCO was suck!!!! same happened like others ads revenue website. They are totally scams!!!
Definitely, better using bittorent than Algoco viewbar. At least we can see a new movie!!!
by azsh