New You Inc (fka NWYU)

[Rhinegold]

feeling Bamboozled?, does this sound fimiliar? A Newspaper in 2010 did a story 'multi level marketing company/stock' (sound similar to here doesn't it?)

Carlsbad's Actis: How a Pyramid Topples
10
By Don Bauder, Oct. 6, 2010


Pssst! Wanna double your money in one day? Yes, the stock of Actis Global Ventures, based in Carlsbad, soared from $0.0001 to $0.0002 on September 2. Officially, the stock’s price is still $0.00, according to Yahoo.com, which rounds off share prices for investors’ convenience.

A couple of years ago, Actis got a lot of publicity as one of San Diego County’s booming multilevel marketing companies. Such firms wring money out of salespeople as well as customers. Distributors make money on products they sell, as well as on products that people they recruited into the scheme sell. That’s why multilevel marketing, also known as network marketing, is often called what it is: a pyramid scheme. Over and over, it has been shown that only a small percentage of people in the pyramid make significant money, but the schemes still proliferate.

Most of these pyramids don’t make it. Consider Actis. As far as I can determine, $0.00 is a very realistic price for its stock because the company no longer has any operations. The company chief executive, Ray Grimm of Rancho Santa Fe, is a darling of pyramid marketers, as well as San Diego Beautiful People. He owned a palatial home that was used for movie sets. He still lives in the tony Ranch, and folks swoon over his collection of Lamborghinis.

He’s not so beloved in government circles. He had been a cofounder of Carlsbad’s USA Inc., which sold supposed health products. Then the Food and Drug Administration said the products were unapproved and misbranded. USA closed and Grimm moved on to Uni-Vite, which hawked diet food from Carlsbad. The company went public by merging into a Nevada shell company, running afoul of the Securities and Exchange Commission in the process. Grimm then moved to still another Carlsbad multilevel marketer, Body Wise. But the Federal Trade Commission charged that the company made deceitful weight-loss and cholesterol-reducing claims.

In the year 2000, Grimm and his wife set up FemOne to peddle so-called nutritional and skin-care products (also from Carlsbad). FemOne stock initially soared, getting to $1.70. Four years ago, the name was changed to Actis Global Ventures. The multilevel marketing firm kept selling the products for women and added another wrinkle: gizmos to combat electromagnetic radiation.

As Actis was coming apart, Grimm cofounded another multilevel company, Cal Nutrisciences, selling purported weight-loss products. It was based in the same building as Actis, according to my sources.

Grimm had 66.9 million shares and Hanser 11.4 million in 2007. The company never made money, defaulted on its debt, and had an accumulated deficit of $14.9 million. It stopped reporting its results to the Securities and Exchange Commission in 2007, but one big speculator bought several slugs of stock in 2009, and penny stock gamblers still bat the stock around.

So much for the multilevel-marketing penny stocks.




https://www.sandiegoreader.com/news/2010/oct/06/city-light-pyramid-scheme-actis/#