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Author Topic: Polish-registered recyclix.com is a Ponzi scheme and provably so.  (Read 95075 times)
Borgminer
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November 29, 2016, 04:32:38 AM
 #421

no new updates just chats from people speculating Huh
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December 08, 2016, 08:14:04 PM
 #422

I don't know if it has been already wrote (i'm not able to read all page atm)... But in italy recyclix has been temporany locked and the authority are still waiting for documents to prove the Company is real... But these documents still didn't come... Ahahhaha do your considerations.
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December 15, 2016, 08:47:49 AM
 #423

I don't know if it has been already wrote (i'm not able to read all page atm)... But in italy recyclix has been temporany locked and the authority are still waiting for documents to prove the Company is real... But these documents still didn't come... Ahahhaha do your considerations.

The 90-day suspension has resulted in the Italian financial authority CONSOB releasing this judgement:
http://www.consob.it/mainen/target/investors/warnings/warnings.html?queryid=mainen.result.warnings&maxres=10&resultmethod=tutela&search=1&symblink=/mainen/target/investors/warnings/index.html
Quote


Their conclusion: Recyclix is an illegal financial instrument and is forbidden from promoting themselves to Italian citizens


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cryptodevil
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December 15, 2016, 09:07:37 AM
 #424

The above judgement of the 12th December is based on the case details published in Italian on the 6th December, a google translate version of which contains this interesting point:
http://www.consob.it/documents/46180/46181/d19799.pdf/f63db0ee-6a78-4c86-909c-20e6165531be
Quote


What this means is that Recyclix refused to provide any documents to support their claim towards user profits arising from the sale of recycled plastic waste.

tl;dr: Recyclix=Ponzi


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December 15, 2016, 01:52:53 PM
 #425

It seems that the dream of get rich in easy way for many people ends.
I dont watch facebook discussion, and when they close my account on recyclix.com i don't even check what is going on there..
When was the last official statement or any post from them?
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December 15, 2016, 04:56:03 PM
 #426

The above judgement of the 12th December is based on the case details published in Italian on the 6th December, a google translate version of which contains this interesting point:
http://www.consob.it/documents/46180/46181/d19799.pdf/f63db0ee-6a78-4c86-909c-20e6165531be
Quote


What this means is that Recyclix refused to provide any documents to support their claim towards user profits arising from the sale of recycled plastic waste.

tl;dr: Recyclix=Ponzi



so their facilities are now in italy ?
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December 16, 2016, 02:06:24 AM
 #427

they have no facilities as stated here: https://recyclix.com/services/
please elaborate what you dont understand?

thanks to CONSOB you can find recyclix in multiple national fsa warning lists
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December 16, 2016, 07:43:51 AM
 #428

When was the last official statement or any post from them?

Given the speed they have tried to throw their supposed financial statements news post in the memory-hole, I'd say that is a fairly damning 'official statement' from them following CONSOB exposing their lies. This was touted as being a big deal which would show they were legit, but they buried it pretty damn quickly after that ruling. Good job the link to it is still live even if they have removed the news page it was posted on. Sloppy work there, Recyclix web admin!
https://recyclix.com/image/news/news15/fin_report.pdf
Quote


They have gone from claiming to be a plastics recycling processor, to claiming to be such a major plastics recycling processor that McDonald's signed them up, to desperately trying to bury that claim until, finally, they now are pretending that while they aren't actually a plastics processing facility, they are working *with* processing plants.

Which kinda makes the whole factory visit they laid on to supposedly prove their legitimacy as a plastics processing operation a complete fabrication, i.e. Utter Bollocks.

CONSOB asked Recyclix to provide transactional evidence they were getting their profit from selling recycled plastic and Recyclix refused to do so. If they were even working *with* processing plants they should still have been able to easily prove their financial structure simply by showing the Italian authorities the relevant paperwork which would support their claim. They refused to and now they are scrabbling to distract everyone through the yawn-fest news about how they've registered the name Recyclix as a trademark.

Whoop-de-fucking-doo, Recyclix. Seems you've got no problem with paperwork as long as it is nothing to do with having to prove you are a legitimate operation, which a trademark registration does not do, contrary to your claim.
https://recyclix.com/news/
Quote


The process for registering a trademark has NO BEARING on the legitimacy, or otherwise, of the operation of the underlying company.


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December 16, 2016, 08:58:58 AM
 #429

Unfortunately for Recyclix, just as CONSOB's online report exposes their lies, EUIPO's online data does, also:
Quote

Quote


https://www.tmdn.org/tmview/basicSearch.html?q=Recyclix#
Quote


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December 16, 2016, 10:05:23 AM
 #430

good job cryptodevil . keep us informed .
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December 16, 2016, 10:07:28 AM
 #431

they have no facilities as stated here: https://recyclix.com/services/
please elaborate what you dont understand?

thanks to CONSOB you can find recyclix in multiple national fsa warning lists

Providing factories with the complete working cycle: recycling, processing, and delivery of reprocessed granules. For example, by making film of 100% recyclable materials, expenses for its purchase for farming companies will be cut by 20% on the average;


from the link you sent
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December 16, 2016, 10:08:59 AM
 #432

Unfortunately for Recyclix, just as CONSOB's online report exposes their lies, EUIPO's online data does, also:
Quote

Quote


https://www.tmdn.org/tmview/basicSearch.html?q=Recyclix#
Quote




do you have another source . that site has a proxy error
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December 16, 2016, 02:43:47 PM
 #433


Given the speed they have tried to throw their supposed financial statements news post in the memory-hole, I'd say that is a fairly damning 'official statement' from them following CONSOB exposing their lies. This was touted as being a big deal which would show they were legit, but they buried it pretty damn quickly after that ruling. Good job the link to it is still live even if they have removed the news page it was posted on. Sloppy work there, Recyclix web admin!
https://recyclix.com/image/news/news15/fin_report.pdf
Quote

lol, wtf is this supposed to be? Whoever produced this "financial report" was not even aware that there's such thing called the accounting standards. They couldn't even categorise their expenses properly. Numbers straight out of the ass. I love how turnover per tonne is hard-fixed at EUR 680/tonne and how 2015 and 2016 net profit margins are almost identical despite 2015 being their first year of operations (you'd expect massive business set-up costs etc). But nothing beats fixed tax at 12% ... of turnover (rather than Profit Before Tax), giving the effective rate of 41.5% (tax/PBT) for 2016 (and ~40% for each quarter). Standard corporation tax in Poland is only 19%...

I'm guessing making up the numbers for the Balance Sheet was too much of a task for them.

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December 16, 2016, 03:08:47 PM
 #434


I'm guessing making up the numbers for the Balance Sheet was too much of a task for them.


I wonder if they delivered the same numbers to KRS (national registry court). And if KRS verified it and made publicly available. I'm going to check it soon.
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December 16, 2016, 03:34:12 PM
 #435


I'm guessing making up the numbers for the Balance Sheet was too much of a task for them.


I wonder if they delivered the same numbers to KRS (national registry court). And if KRS verified it and made publicly available. I'm going to check it soon.

If anything, they'd have to file 2015 accounts for the full year (or for the period from incorporation to 31 Dec 2015). I don't think any company is required to file interim reports with KRS.

Also (assuming it all works similar to UK's Companies House) KRS won't verify the reported numbers, at best, they could reject the statements if they don't meet the required format.

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Borgminer
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January 15, 2017, 05:09:02 PM
 #436

any updates ? did they run yet ?
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January 17, 2017, 01:46:09 AM
 #437

Yep, but they made "sell" button inactive for some members in some instances and people can not do cash withdrawal. 
Borgminer
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January 18, 2017, 04:16:35 PM
 #438

Yep, but they made "sell" button inactive for some members in some instances and people can not do cash withdrawal. 


ah that stinks i guess they are disappearing now ?
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January 20, 2017, 03:58:41 PM
 #439

Who knows. Now they are at EcoWASTE Exhibition 2017 at Emirates. Hunting for Sheikhs  Grin
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January 30, 2017, 03:03:15 AM
 #440

Withdraws stopped .
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