As a former representative for this company, I was curious as to what is new with it... does anyone have any news or scoop on the Company, its leadership, its services, etc?
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As a former representative for this company, I was curious as to what is new with it... does anyone have any news or scoop on the Company, its leadership, its services, etc?
Hyped by Donald Trump, ACN Video Phone Business May Be Collapsing
Donald Trump tells Americans that it is a technology breakthrough, a wave of the future; everybody will own one; better get in now!
He is personally endorsing and hyping the “revolutionary IRIS V Video Phone”, the flagship product and the new icon of the multi-level marketing company, ACN, for which Donald Trump serves as pitchman-in-chief.
He trumpets the video phone on Celebrity Apprentice. ACN, for its part, promotes Donald Trump all over its website and at all its recruitment meetings. “If Donald Trump says this phone is a hot new item, who can doubt it?” is the message ACN sends to hundreds of thousands of consumers.
But thelatest disclosures to the SEC by the video phone’s manufacturer, WorldGate Communications, indicate the market for this device has collapsed. Demand for this product – if it ever existed in the real marketplace – is vanishing.
The top management of the company has resigned. Orders from ACN have been drastically cut back. The value of the stock of the phone manufacturer has been virtually wiped out.
The company reported to the SEC that it may seek bankruptcy protection very soon.
In its 10Q report to the SEC for the first quarter of 2011, the manufacturer reported:
“On March 22, 2011, we received a significantly reduced ordering forecast from ACN DPS for the remainder of 2011, based in part on a significant build up in inventory of unsold video phones held by ACN DPS… Accordingly, we expect that revenues from sales to ACN DPS in fiscal year 2011 will be significantly lower than in fiscal year 2010… In view of our current cash resources, nondiscretionary expenses, debt and near term debt service obligations, we intend to explore all strategic alternatives available to us, including… financial reorganization, liquidation and/or ceasing operations. We may determine that it is in our best interests to voluntarily seek relief under Chapter 11 of the U.S. Bankruptcy Code. Seeking relief under the U.S. Bankruptcy Code…”
http://pyramidschemealert.org/wordpr...t2-300x122.jpgACN Video Phone Manufacturer's Stock in1-Yr.
In the last year, the price of shares in WorldGate went from $.48 to three cents ($.03 a share).
Yet, despite the manufacturer’s notice to the government that it is on the verge of collapse and sales to ACN have been drastically cut back, ACN in the very same month issued a press release that is currently posted on ACN’s website proclaiming Trump’s personal endorsement of the ACN video phone. Donald Trump is quoted, “I think the ACN Video Phone is amazing. It’s connecting people face-to-face regardless of where they are. I simply can’t imagine anybody using this phone and not loving it!”
Read the full report on Pyramid Scheme Alert.com
The Donald better step out in to the real world where this is on a lot of phones now and still not many people use it.
The technology was never there to make a video phone worthwhile though ACN idiots would profess differently while proven wrong by their own <strike>reps</strike> errr 'customers'.
Video chat phones - CNET Reviews
The major problem with their video phone was, and still is, there's no point in buying one if the party you're attempting to call doesn't have one as well.Quote:
Originally Posted by Whip
Forget about the so called "advanced technology" being touted by ACN, the bottom line is, every sale requires a second sale, otherwise all you're buying is an overpriced landline phone.
Even before the advent of todays' hi-tech cell phones with all of their features, the ACN videophone was never going to catch on.
For it to be at all useful, everyone on a consumers' call list would be required to have purchased the same package from ACN as well.
All the talk at the time by ACN reps about the video quality, how much better their product is than (free) Skype and the "opportunity" was a smokescreen to cover the fact either EVERYONE involved had one or it simply didn't work.