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Startup & Beta Tester related Situation

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Ismails

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I got approached a guy who is in early startup and looking for beta testers.
We have been friends for almost 8-9 months.
The guy seemed less hype and it looks like it is a serious startup.
It's about Private Instant Cell Phone Messaging Market and disrupting the Current Texting Messaging Market.
I have seen these 4 reports:

1) Brochure
2) Website
3) Executive Summary
4) Business Plan

I understand link is not allowed to share in this forum otherwise I will be kicked out from the forum.
He is asking only for $85 for the beta tester only for 1 year.
He is also acknowledged that there is risk involve in the startup.

My Level: Newbie. I have never done this.

My 2 Concern Questions:
1) Is it worthy to join the beta tester group to gain experience without zero expectation?
2) Is it the right way to enroll in Beta Tester group ?
 

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broswoodwork

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I got approached a guy who is in early startup and looking for beta testers.
We have been friends for almost 8-9 months.
The guy seemed less hype and it looks like it is a serious startup.
It's about Private Instant Cell Phone Messaging Market and disrupting the Current Texting Messaging Market.
I have seen these 4 reports:

1) Brochure
2) Website
3) Executive Summary
4) Business Plan

I understand link is not allowed to share in this forum otherwise I will be kicked out from the forum.
He is asking only for $85 for the beta tester only for 1 year.
He is also acknowledged that there is risk involve in the startup.

My Level: Newbie. I have never done this.

My 2 Concern Questions:
1) Is it worthy to join the beta tester group to gain experience without zero expectation?
2) Is it the right way to enroll in Beta Tester group ?
Is he paying you to beta test his project or charging you to beta test his product? If he's charging you, what's in it for you?
 
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Ismails

Ismails

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Is he paying you to beta test his project or charging you to beta test his product? If he's charging you, what's in it for you?
No he is not gonna pay for me.
I have to pay for the best test program for this product.

Benefits:
1) 1 Year Pre-Launch Access
2) Option to renew after 1 year
3) One Time bonus of 100 warrents of the company exercisable for 5 years at 1.00/share.

I think they are collecting survey & feedback to make it improvise for the next stage 2 or something. That's what I understand unless I am missing something.
 

broswoodwork

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No he is not gonna pay for me.
I have to pay for the best test program for this product.

Benefits:
1) 1 Year Pre-Launch Access
2) Option to renew after 1 year
3) One Time bonus of 100 warrens of the company exercisable for 5 years at 1.00/share.

I think they are collecting survey & feedback to make it improvise for the next stage 2 or something. That's what I understand unless I am missing something.
What will the program help you do? and please don't say you can sell it to other people, who in turn sell it to other people...
 
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Ismails

Ismails

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What will the program help you do? and please don't say you can sell it to other people, who in turn sell it to other people...
I don't see anything about Win-Win.
All I see as Win-Lost.

Okay I am describing his exact word to word:

"People who join as Beta Testers, they will get 100 warrants (stock options) in the company.
If you refer testers, you will get $20 and 20 warrants for each referral, so 1000 testers =$20K and $20K warrants exercisable for 5 years"

Man I think its an MLM Model. REFER means RECRUIT :-O
 

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