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biophase

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It’s an e-commerce site worth approximately 75k on the open market (of course the valuation is certainly subjective but that’s based on my personal valuation of the site)
If your site is worth $75k, it should be at least bringing in $30k a year right? That's a 2.5x which is generous for a $30k a year site.

But you've only received back $18k. What is it currently bringing you a month?
 

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biophase

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Can't really argue with your points obviously (except for the "Everything" I said was irrelevant...vast majority maybe but not "everything", c'mon, throw me a bone here) .
It's irrelevant because the business you are buying doesn't care about your situation. Does my ecom store do better when my house goes down in value?

Here is what's going to happen to you. You are going to mortgage the home for $100k, join this business and at the end of 3 years you might get back $50k in cashflow (through the ponzi scheme) and end up with an ecommerce site that is worth $50k. So now you received back your initial $100k, but you've paid out $15k in interest. So you are really down $15k after 3 years.

This is one of those investments that if you go through with this, just be willing to lose all of your $100k. If you are fine with that, then you can certainly proceed. These are decisions you need to make in your head before proceeding with any type of investment.
 

mguttman

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Jul 11, 2019
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Payphone scam

My parents were victims of this ATM scam. This scam ran for years and promised and delivered a 20 percent return. Even when I warned them that this looked suspicious, they stayed with it until the whole scam came crashing down.

Income Store may be legitimate, but there are way too many red flags. Guaranteed returns with little to no effort is a major red flag. The fact that their home page looks very amateurish and loads very slowly is another red flag to me.

What do the first two scams and Income Store have in common? They promise a nice return for your money while they do ALL the work.
 
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socaldude

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For the risk you are taking with these people 15% isn't even close.

Not to mention if you lose money this will be a civil matter not a criminal one not to mention there is an arbitration clause in the terms and agreement.

26269

Usually when it's not entirely clear what the websites are and who are what is done chances are there is something fishy. How anybody could get their money back and then some is beyond me.

:clench:
 

herbie

New Contributor
Aug 12, 2019
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It's irrelevant because the business you are buying doesn't care about your situation. Does my ecom store do better when my house goes down in value?

Here is what's going to happen to you. You are going to mortgage the home for $100k, join this business and at the end of 3 years you might get back $50k in cashflow (through the ponzi scheme) and end up with an ecommerce site that is worth $50k. So now you received back your initial $100k, but you've paid out $15k in interest. So you are really down $15k after 3 years.

This is one of those investments that if you go through with this, just be willing to lose all of your $100k. If you are fine with that, then you can certainly proceed. These are decisions you need to make in your head before proceeding with any type of investment.
Hey Biophase,

I am currently looking to possibly go down this road with them so have been curious about ecom's experience with them. Basically, how it is explained (from my understanding) is that the 100K is used to purchase an existing site with existing revenue stream...theoretically the site they purchase should be doing around 30-50K in gross revenue due to the valuation multiple to buy it. They then are supposed to "enhance" the site and business model to grow the revenue (I was not aware of the second site that Ecom mentions...this may be something they used to do but do not anymore, not sure). Within a certain time frame (60-90 days from your investment) they commit/guarantee to pay you a monthly payment equal to 15% of your investment annually (so 1,250 per month) regardless of how much the actual revenue is (unless it's higher). Once the revenue goes above 1,250 per month you split the incremental with them 50/50.

They say that 60% of their sites earn more than the minimum within the first year, 90% of them earn more within the 2nd year, and 100% earn more within 3 years. How much more is much more of an elusive question.

They started with authority sites and have switched over to e-commerce sites recently due to the changing web landscape as they have explained it.


To 100k, I am assuming the breakeven Ecom is referring to is the 18K he made so far and the value of site/asset at 75K if he was to sell it.
I have been looking for something like this forum to discuss my experience with Income Store. I was probably one of the earlier investors...gave them 100k to purchase an "authority" site and then they were to build another "hybrid" site to enhance the one they bought. I loved their model, but went into this with my eyes wide open...knew that it could be "too good to be true, but I did some diligence and decided to give it a try. All of the signs point to a legitimate business, however, buyer beware!!!

The site that they purchased for me is virtually worthless and they keep giving me the run around on how they are going to get me something that will give me the equity that I have lost!

They are moving away from authority and affiliate sites and into ecommerce...which I also like better...but they are WAY late with this site also. I built an ecommerce business about the same time frame and it has done VERY well, however, I do spend a good bit of time on this business.

I spend 0 time on the income store investment. I have accused them of a ponzi scheme, but they claim that the are doing well....won't share financials, however. They do continue to give me updates...however...the updates are basically that they are making no progress.

This has gone on for about four years now...so this is why I would not recommend this investment. I have almost earned back my original investment...and will milk this as long as I can and as long as they don't implode. They built a new building, they are growing, and I don't agree with those who are trashing their technical know how.

I bought this as a long term investment...and as long as they pay my 15%+ I am good to go. I follow their progress and get their updates and propaganda...they do try to be transparent and I can always get a response to any questions or concerns...their responses are just all the same..."we are working on it, but...we ran into a few snags...blah blah blah. It's definitely a red flag and I would NOT invest knowing what I know now.

But at this point, they have not missed a payment and I keep cashing the checks without spending any time. Would a REIT or something similar been better....maybe. Not too many places you can get a 15%+ return for life. Too good to be true? We shall see....but I like my chances. Lot's of naysayers here...but give me some options that will do what this has done and claims it will do in the future with the same or lower risk!!!
 

biophase

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Not too many places you can get a 15%+ return for life. Too good to be true? We shall see....but I like my chances. Lot's of naysayers here...but give me some options that will do what this has done and claims it will do in the future with the same or lower risk!!!
Glad to hear that you've almost got back your original investment in returns. 15% for 4 years is great. But can you get your initial $100k back when you want? If not, then you've really just lost money, or lended money to them at less than 0% interest.
 

herbie

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Aug 12, 2019
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Glad to hear that you've almost got back your original investment in returns. 15% for 4 years is great. But can you get your initial $100k back when you want? If not, then you've really just lost money, or lended money to them at less than 0% interest.
That would be correct until I have earned the principle plus inflation back through the royalty payments. Then the returns start to make this more attractive. I traded emails again yesterday with them...still trying to get them to get me a website that is worth something! I see that they hired a CEO recently. Not sure what this means as Ken used to run the business.
 

stacyc64

New Contributor
Aug 19, 2019
2
1
1
I have been looking for something like this forum to discuss my experience with Income Store. I was probably one of the earlier investors...gave them 100k to purchase an "authority" site and then they were to build another "hybrid" site to enhance the one they bought. I loved their model, but went into this with my eyes wide open...knew that it could be "too good to be true, but I did some diligence and decided to give it a try. All of the signs point to a legitimate business, however, buyer beware!!!

The site that they purchased for me is virtually worthless and they keep giving me the run around on how they are going to get me something that will give me the equity that I have lost!

They are moving away from authority and affiliate sites and into ecommerce...which I also like better...but they are WAY late with this site also. I built an ecommerce business about the same time frame and it has done VERY well, however, I do spend a good bit of time on this business.

I spend 0 time on the income store investment. I have accused them of a ponzi scheme, but they claim that the are doing well....won't share financials, however. They do continue to give me updates...however...the updates are basically that they are making no progress.

This has gone on for about four years now...so this is why I would not recommend this investment. I have almost earned back my original investment...and will milk this as long as I can and as long as they don't implode. They built a new building, they are growing, and I don't agree with those who are trashing their technical know how.

I bought this as a long term investment...and as long as they pay my 15%+ I am good to go. I follow their progress and get their updates and propaganda...they do try to be transparent and I can always get a response to any questions or concerns...their responses are just all the same..."we are working on it, but...we ran into a few snags...blah blah blah. It's definitely a red flag and I would NOT invest knowing what I know now.

But at this point, they have not missed a payment and I keep cashing the checks without spending any time. Would a REIT or something similar been better....maybe. Not too many places you can get a 15%+ return for life. Too good to be true? We shall see....but I like my chances. Lot's of naysayers here...but give me some options that will do what this has done and claims it will do in the future with the same or lower risk!!!
Why is your site "worthless"? Was it already worthless when they bought it, or did it hit a penalty and go down?
 

herbie

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Aug 12, 2019
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Why is your site "worthless"? Was it already worthless when they bought it, or did it hit a penalty and go down?
It slowly deteriorated due to a lack of attention and content. The income store grew so fast they I don't think they could keep up and let me site go to the dogs....very little traffic and clicks. It makes very little money at this point. FYI.
 

stacyc64

New Contributor
Aug 19, 2019
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It slowly deteriorated due to a lack of attention and content. The income store grew so fast they I don't think they could keep up and let me site go to the dogs....very little traffic and clicks. It makes very little money at this point. FYI.
That's too bad. I wonder if they slowly let the sites deterioriate and pay the monthly 15% fees to everyone who has a site with money from the new people they sign on.
 

herbie

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Aug 12, 2019
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That's too bad. I wonder if they slowly let the sites deterioriate and pay the monthly 15% fees to everyone who has a site with money from the new people they sign on.
Quite frankly, I have been concerned about this and asked them point blank if they were running a ponzi scheme. They claim that they are not and the the large majority of their sites are meeting their profit targets. I have doubts. Steer clear. I am just milking this for as long as I can to get my money back plus a good return!!!
 

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Mithkol

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Aug 21, 2019
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Hi,

I came across this thread during my research into IncomeStore. I was intrigued by Ken and his company at a conference and they also really sold it over the phone when I spoke to them.

I will post my research here for anyone else who may be interested. In conclusion I decided against investing with IncomeStore due to the unhappy experience of both Ecom Man and Herbie on this thread.

INCOME STORE'S CREDENTIAL
  • Our preliminary research suggests that Income Store is a legit company in the business they claim to be in on their website.
  • The company's revenue has grown by 389% in the last three years.
  • The company is also highly rated on Glassdoor (4.7/5 rating from 60 reviews), with employees leaving positive reviews about how impressive the company's SEO strategy is.
INCOME STORE'S PROMISE REALIZATION
  • While we were able to determine that the company is legit from external sources, we were unable to find a solid third party review about the company that sheds light on if they are able to keep their promise.
  • We found several interviews of the CEO, Ken Courtright, where he suggests that the company is able to keep its promise to investors and provides examples of their business model. However, it is unclear if all sites under their management perform optimally or if he only cherry-picked the best.
  • A poster in an online forum where the company is being discussed noted that he is "currently only making the minimum ($1,250 a month) as the websites aren’t throwing off enough income to exceed that yet. It took them quite a while to buy a website (they are estimating 3-6 months for new buyers) but they pay you the 1.25% monthly even before they find and buy the actual site."
  • There is a thread of discussion about the company in the forum but only the comment above is from someone that has actually invested in the company. However, while it is encouraging to know that they actually do keep their promise, skeptics opine that it is easy to pay $1,250 monthly to investors from their $100,000 deposits.
 

contentwriterIS

New Contributor
Dec 5, 2019
4
4
11
I have been looking for something like this forum to discuss my experience with Income Store. I was probably one of the earlier investors...gave them 100k to purchase an "authority" site and then they were to build another "hybrid" site to enhance the one they bought. I loved their model, but went into this with my eyes wide open...knew that it could be "too good to be true, but I did some diligence and decided to give it a try. All of the signs point to a legitimate business, however, buyer beware!!!

The site that they purchased for me is virtually worthless and they keep giving me the run around on how they are going to get me something that will give me the equity that I have lost!

They are moving away from authority and affiliate sites and into ecommerce...which I also like better...but they are WAY late with this site also. I built an ecommerce business about the same time frame and it has done VERY well, however, I do spend a good bit of time on this business.

I spend 0 time on the income store investment. I have accused them of a ponzi scheme, but they claim that the are doing well....won't share financials, however. They do continue to give me updates...however...the updates are basically that they are making no progress.

This has gone on for about four years now...so this is why I would not recommend this investment. I have almost earned back my original investment...and will milk this as long as I can and as long as they don't implode. They built a new building, they are growing, and I don't agree with those who are trashing their technical know how.

I bought this as a long term investment...and as long as they pay my 15%+ I am good to go. I follow their progress and get their updates and propaganda...they do try to be transparent and I can always get a response to any questions or concerns...their responses are just all the same..."we are working on it, but...we ran into a few snags...blah blah blah. It's definitely a red flag and I would NOT invest knowing what I know now.

But at this point, they have not missed a payment and I keep cashing the checks without spending any time. Would a REIT or something similar befor en better....maybe. Not too many places you can get a 15%+ return life. Too good to be true? We shall see....but I like my chances. Lot's of naysayers here...but give me some options that will do what this has done and claims it will do in the future with the same or lower risk!!!
Hello. I am a former contractor with the Income Store / Today's Growth Consultant. I'm eager to get in touch with investors and anyone who has information about the company. I am trying to understand if I am witnessing the implosion of a Ponzi scheme or simply a very mismanaged company flailing in the face of a difficult transition to eCommerce...
 
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herbie

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Aug 12, 2019
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Hello. I am a former contractor with the Income Store / Today's Growth Consultant. I'm eager to get in touch with investors and anyone who has information about the company. I am trying to understand if I am witnessing the implosion of a Ponzi scheme or simply a very mismanaged company flailing in the face of a difficult transition to eCommerce...
Hello ContentwriterIS: Not sure I understand...are you currently providing content and services to them? I am a longer term investor and concerned that this same thing may be happening. I have had a hard time getting them to even return my emails at this point. May last payment was a few days late so I am thinking they may be starting to have cash flow problems. Doesn't look good to me...I'm just trying to milk this as long as possible, but I fear that trouble is in the wind.

UPDATE!!! BIG RED FLAG HERE FOLKS....I just got a note from Ken Courtright...owner...the email note said that they will not be doing customer service calls in December due to the Holidays and STAFFING! I am guessing that they laid off this group because they are getting so much negative feedback and they can no longer afford them?

They did say that they will start again in January, but I have my doubts. I don't even have a contact anymore!!! And I didn't even get a reply from my last email to my customer service rep. Doesn't look good, folks.
 
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MJ DeMarco

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Have a feeling this thread is about to get much more interesting...
 

transient

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Dec 5, 2019
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Unless I am mistaken there were a slew of other posts on this thread after #102 that disappeared. I'd be fascinated to hear the story behind what happened there. I used to contract for IS which was an... interesting.. experience. I could tell stories for months but probably should refrain!

My advice for investors would be IF you have doubts about the long term viability of the company, I would request regular backups of your site and request your domain(s) to be transferred to your own registrar account (get an account using the same registrar they are using for ease of transfer). Yeah you'll have to pay the yearly fees on the domains but if the company implodes you'll be able to get the business going again. Otherwise if they neglect to pay hosting/registrar bills (and who is to say that is an impossibility?) you'll be up shit creek in a way that a bankruptcy court or lawsuit probably won't be able to fix.
 

PizzaOnTheRoof

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I have been looking for something like this forum to discuss my experience with Income Store. I was probably one of the earlier investors...gave them 100k to purchase an "authority" site and then they were to build another "hybrid" site to enhance the one they bought. I loved their model, but went into this with my eyes wide open...knew that it could be "too good to be true, but I did some diligence and decided to give it a try. All of the signs point to a legitimate business, however, buyer beware!!!

The site that they purchased for me is virtually worthless and they keep giving me the run around on how they are going to get me something that will give me the equity that I have lost!

They are moving away from authority and affiliate sites and into ecommerce...which I also like better...but they are WAY late with this site also. I built an ecommerce business about the same time frame and it has done VERY well, however, I do spend a good bit of time on this business.

I spend 0 time on the income store investment. I have accused them of a ponzi scheme, but they claim that the are doing well....won't share financials, however. They do continue to give me updates...however...the updates are basically that they are making no progress.

This has gone on for about four years now...so this is why I would not recommend this investment. I have almost earned back my original investment...and will milk this as long as I can and as long as they don't implode. They built a new building, they are growing, and I don't agree with those who are trashing their technical know how.

I bought this as a long term investment...and as long as they pay my 15%+ I am good to go. I follow their progress and get their updates and propaganda...they do try to be transparent and I can always get a response to any questions or concerns...their responses are just all the same..."we are working on it, but...we ran into a few snags...blah blah blah. It's definitely a red flag and I would NOT invest knowing what I know now.

But at this point, they have not missed a payment and I keep cashing the checks without spending any time. Would a REIT or something similar been better....maybe. Not too many places you can get a 15%+ return for life. Too good to be true? We shall see....but I like my chances. Lot's of naysayers here...but give me some options that will do what this has done and claims it will do in the future with the same or lower risk!!!
The reason the checks keep coming in is there’s fresh blood still investing in this scam.

Lack of customer support, specific details on investments, no reporting of financials, etc...

And yet somehow they’re making you money?...

Come on man GTFO of there!
 

MJ DeMarco

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Unless I am mistaken there were a slew of other posts on this thread after #102 that disappeared. I'd be fascinated to hear the story behind what happened there.
Deleted as per request of the person who made the post due to litigation pending. Nothing nefarious.
 

Joe Clark

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Feb 8, 2019
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My wife wrote for the Income Store along with lots of other people. I used to write there full time, then I found another gig and started focusing on my now FAILED eBay business. This company is definitely a scam; they owe thousand to their writers and have stopped paying basic bills. They've even threatened freelance contract writers that they will file bankruptcy if they feel too much public heat. They are trying not to scare off investors. Meanwhile, dozens of freelance writers are having the shittiest holiday season ever. And what's their excuse? Oh, well, our company is growing so fast that we've got "cash flow" issues right now. They're basically saying the reason they can't pay is because they've tripped over all their money and need time to sort it all out.

My wife and I are throwing our energy back into growing our politics blog and t-shirt business for now and put out a few SEO websites within the next few months. It's harder on her because she's the entrepreneur thinking about our future. I'm always grinding at different jobs taking care of the present. This ordeal has taught us that you can't trust any single company or platform with your future, because they all have the ability to F*ck you over at the drop of a dime.
 

ExploringOptions

New Contributor
Aug 9, 2019
2
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Hello. I am a former contractor with the Income Store / Today's Growth Consultant. I'm eager to get in touch with investors and anyone who has information about the company. I am trying to understand if I am witnessing the implosion of a Ponzi scheme or simply a very mismanaged company flailing in the face of a difficult transition to eCommerce...
I would be very interested in getting in contact with any current or former employees or contractors with TGC/Income Store as well as any investors that may have anything to share regarding the current state of affairs at Income Store. As a current investor, I have serious concerns regarding the viability of the Income Store as there is a very consistent theme of sites not being delivered. Please email me at exploringoptions123@gmail.com
 

contentwriterIS

New Contributor
Dec 5, 2019
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Hello ContentwriterIS: Not sure I understand...are you currently providing content and services to them? I am a longer term investor and concerned that this same thing may be happening. I have had a hard time getting them to even return my emails at this point. May last payment was a few days late so I am thinking they may be starting to have cash flow problems. Doesn't look good to me...I'm just trying to milk this as long as possible, but I fear that trouble is in the wind.

UPDATE!!! BIG RED FLAG HERE FOLKS....I just got a note from Ken Courtright...owner...the email note said that they will not be doing customer service calls in December due to the Holidays and STAFFING! I am guessing that they laid off this group because they are getting so much negative feedback and they can no longer afford them?

They did say that they will start again in January, but I have my doubts. I don't even have a contact anymore!!! And I didn't even get a reply from my last email to my customer service rep. Doesn't look good, folks.
Hi, Herbie!

I was providing content until my contract was "paused" due to cash flow issues. Like you, I struggle to get responses to my emails and I am owed a significant amount of money for the services I provided over the past months.

As I understand it, Income Store has begun cancelling subscriptions to crucial services, such as the company's Slack account, and locking employees out of the company-branded email account.

I'll try to keep you updates as I learn more about the situation -- would be eager to hear about your experiences, too.
 

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contentwriterIS

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Dec 5, 2019
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Deleted as per request of the person who made the post due to litigation pending. Nothing nefarious.
Hello, MJ DeMarco.

Could you share any more about this pending litigation? Specifically, I'm curious if the litigation might concern unpaid contractor invoices. If that is the case, I'd be happy to delete my posts if it might help protect the contractors.

Thank you!
 

MJ DeMarco

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Could you share any more about this pending litigation?
No, I have no details. Just received a request from someone who is pursuing litigation and he wanted it removed.
 

ExploringOptions

New Contributor
Aug 9, 2019
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Hello, MJ DeMarco.

Could you share any more about this pending litigation? Specifically, I'm curious if the litigation might concern unpaid contractor invoices. If that is the case, I'd be happy to delete my posts if it might help protect the contractors.

Thank you!
I read the original post and it didn't address unpaid contractors invoices. It was litigation involving an investment.
 

F-PonziSchemes

New Contributor
Dec 13, 2019
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I am trying to understand if I am witnessing the implosion of a Ponzi scheme
all available information indicates yes
UPDATE!!! BIG RED FLAG HERE FOLKS....I just got a note from Ken Courtright...owner...the email note said that they will not be doing customer service calls in December due to the Holidays and STAFFING! I am guessing that they laid off this group because they are getting so much negative feedback and they can no longer afford them?
I think it's moreso a case of them not wanting to discuss what's going on.
I'd be fascinated to hear the story behind what happened there.
Saw it. The gentleman had a deal in play with no site attached and was fed bullshit. He demanded exit and got his moneys back in two months.

I used to contract for IS which was an... interesting.. experience. I could tell stories for months but probably should refrain!
Would love to know more!

My advice for investors would be IF you have doubts about the long term viability of the company, I would request regular backups of your site and request your domain(s) to be transferred to your own registrar account (get an account using the same registrar they are using for ease of transfer). Yeah you'll have to pay the yearly fees on the domains but if the company implodes you'll be able to get the business going again. Otherwise if they neglect to pay hosting/registrar bills (and who is to say that is an impossibility?) you'll be up shit creek in a way that a bankruptcy court or lawsuit probably won't be able to fix.
This is wise if and only if you actually have these "income store sites" in a deal. The comments here as well as my own experience, and that of others is that there are no sites in these deals.
The reason the checks keep coming in is there’s fresh blood still investing in this scam.
#winner

My wife wrote for the Income Store along with lots of other people. I used to write there full time, then I found another gig and started focusing on my now FAILED eBay business. This company is definitely a scam; they owe thousand to their writers and have stopped paying basic bills. They've even threatened freelance contract writers that they will file bankruptcy if they feel too much public heat. They are trying not to scare off investors. Meanwhile, dozens of freelance writers are having the shittiest holiday season ever. And what's their excuse? Oh, well, our company is growing so fast that we've got "cash flow" issues right now. They're basically saying the reason they can't pay is because they've tripped over all their money and need time to sort it all out.

My wife and I are throwing our energy back into growing our politics blog and t-shirt business for now and put out a few SEO websites within the next few months. It's harder on her because she's the entrepreneur thinking about our future. I'm always grinding at different jobs taking care of the present. This ordeal has taught us that you can't trust any single company or platform with your future, because they all have the ability to F*ck you over at the drop of a dime.
For that bolded portion above do you have records of this? Would love to see and learn more about your situation if you are willing and able! Can you share an email or share publicly?

As I understand it, Income Store has begun cancelling subscriptions to crucial services, such as the company's Slack account, and locking employees out of the company-branded email account.
That's end-stage level stuff there.
 

MakMac

New Contributor
Jun 19, 2019
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[/QUOTE]
That's end-stage level stuff there.
[/QUOTE]

End Stage INDEED. They claim membership in the INC 5000 with revenues of $50M and $25M for 2018 and 2017.

Which makes their current emails to site owners...very troubling. They are putting a workout spin on their current situation...but with $75M in cash flow over the last 2 years in a cash structure that is HEAVILY WEIGHTED in their favor...CASH PROBLEMS...are probably END PROBLEMS.

Just hitting emails....

12/13/2019


Notice of Moratorium and Options to All Site Owners



There have been recent important developments regarding Todays

Growth Consultant, Inc. dba Income Store (“TGC”), which we want to share

with you.


Over the last several years, TGC has developed and offered services for

various types of websites for the purpose of implementing and optimizing

marketing strategies for revenue production on your sites.


Our business has had challenges and headwinds over the last year. There

have been a number of changes that have drastically reduced the revenue

generation from the websites we service which have forced us to adapt

the strategies and services to support your websites. As a result of these

changes, TGC has had to hire more specialized staff and agencies and

deploy more cash than we had originally anticipated. In some cases, these

challenges have resulted in considerable delays in our ability to build

websites and deploy marketing strategies to maintain revenue generation.

We are deeply sorry about this, and we want you to know that all of us

here are working tirelessly on solving these issues.


TGC needs your cooperation and patience. To right the cash flow issue,

we need your help. We humbly ask for a moratorium on your payments, if

any are due, for the next four months. This will allow TGC to allocate

resources, both human and financial, to enhance and market the sites. It

will also allow TGC to make improvements to its existing operations,

which will benefit you as a site owner.


1001 Millersville Rd., Lancaster PA 17603

(717) 925-0923
 

MakMac

New Contributor
Jun 19, 2019
17
13
14
That's end-stage level stuff there.
[/QUOTE]

End Stage INDEED. They claim membership in the INC 5000 with revenues of $50M and $25M for 2018 and 2017.

Which makes their current emails to site owners...very troubling. They are putting a workout spin on their current situation...but with $75M in cash flow over the last 2 years in a cash structure that is HEAVILY WEIGHTED in their favor...CASH PROBLEMS...are probably END PROBLEMS.

Just hitting emails....

12/13/2019


Notice of Moratorium and Options to All Site Owners

TGC needs your cooperation and patience. To right the cash flow issue,
we need your help. We humbly ask for a moratorium on your payments, if
any are due, for the next four months. This will allow TGC to allocate
resources, both human and financial, to enhance and market the sites. It
will also allow TGC to make improvements to its existing operations,
which will benefit you as a site owner.

1001 Millersville Rd., Lancaster PA 17603

(717) 925-0923

[/QUOTE]

On that happy note...let's get on to the score card...

Ken Courtright claims $75 M in revenue over the last 2 years at Inc 5000.

120 Employees at say $50,000 each and 20% load is $12M over 2 years.

Their cost per contract is 40% of the agreement for the initial site purchase so say $32M over the last 2 years - and they have performed nowhere near that level across all their accounts.

So $75M in revenues against a very generous $44M in primary expenditures...and more than $30M in Ken Courtright pilfering makes Ken a proud member of the PONZI 500. Congrats. ;)

Now the IRS defines taxable income as "all income from whatever source derived" which means KEN has MASSIVE tax payments in the last 2 years...or interesting discussions with the IRS to come. Congrats. ;)
 

MakMac

New Contributor
Jun 19, 2019
17
13
14
fwiw that is in question..while Inc requires verification, there's no promises that the attorney/accountant they work with isn't a part of this.
Totally agree. Hopefully, the INC.com process offers some rigor. For anyone with time on their hands due to lack of Ken communications, a well placed call to INC might accelerate the truth process.

3 years of INC reported revenue includes:

50M 2018
25M 2017
15M 2016

for a 3 year total of $90M
 

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