Complaint / review text:
FlashNet Internet MLM, Muti-Level Marketing Program, was dissolved. FlashNet established this program in 1997 to build a large subscriber base. Looking back, the original FlashNet Executive Officers achieved their goal. They built a subscriber base by using independent distributors, did an IPO, and sold to Prodigy/SBC. SBC owns approximately 47 - 53 % of FlashNet. Prodigy bought all of FlashNet. SBC owns Prodigy and FlashNet.
Terri Frey, President of FlashNet Marketing, hyped up the disributors. Until August, 2000, Ms Frey promised by e-mail that the distributor or MLM Program would be continued. Then unexpectedly canceled it August, 2000.in order to received our earned commissions and residuals, many distributors, including myself, have been buillied, to sign agreements under duress. Many distributors invested heavily in this venture planning on longterm residuals and commissions to recoupe their investments. All of FlashNet Executive Management, sold these distributorships based on long term $.
At this time, the distributors are receiving commission for 6 months as long as they sign an agreement giving all fraud rights etc. Up. The company promised 6 months commissions but to get the money up front one has to accept 90%. There are many rumors that those waiting for the long term pay-out will not receive money's as this division of Prodigy will file bankruptcy.
Ban internet service with Prodigy, FlashNet, or SBC.
The continual hype that this was a long term business like Excel, left many distributors like myself planning on the residuals. Prodigy/Flashnet keeps the customers that we used our funds to advertise, sign-up etc. For and we get partial moneys.
The distributors should receive residuals, as promised, for all customers that remain with Prodigy/Flashnet/SBC that they or their business solicited.