As you will find in previous posts, I became a member and affiliate of SQIP soon after its inception and later invested a small amount to become a stakeholder. I encouraged others to join as affiliates, but I would have gained nothing if they had also become investors. To my knowledge, few if any did either.
Since 2010, members and stakeholders have been sporadically updated with ‘progress’ by founder and spokesman, Irishman Christian Fortune, with explanations for changes of tack and delays in launches of various new services, with several network name changes along the way. Many like myself, although frustrated, took a ‘wait-and-see’ stance while others have tried to cash in on the original scheme by steering Sqip and GreenWin members into others.
Although I have probably lost what I have invested in this, compared to other schemes I’ve been involved in or tempted by, I don’t think of this one as a scam; more a failed business model. I believed in its founder and his plans; his vision of the future of social networking and personal communications has in fact proved correct. However, it seems he either missed the boat, chose the wrong partners or simply lost out to bigger players.
I don’t hold any grudge as there is still the vague possibility that my equity known as PEPs, which has seen a series of moves, over several years now, from SQIP to GreenWin Network/MyCrowd and apparently converted to a Swedish company stock, might one day actually be worth something in monetary terms. But I’m not holding my breath!
This was an investment and all investment has risk. It is up to the individual to decide how much of a ‘fortune’ they can afford to lose. In my case it’s a only couple of hundred euros, but the last valuation of my stake was around a thousand dollars.
I am not at all confident of a positive outcome as ‘our’ Christian Fortune (not the movie star or tagline for a Nigerian reverend’s millions-of-dollars scam) disappeared from the radar early in 2012. Currently, none of the links for the site or member ‘back office’ work – not a good sign.
However, life is full of surprises and today I received an email sent to all shareholders, informing them of the joint venture partnership with another Swedish development company who have been operating for over 10 years to totally redesign MobiPortal and its technical functionality and visual display, with ‘good news’ by the end of July.
Each share including additional free bonus shares negotiated by Christian Fortune have been converted from 10 to 15 shares in GreenWin Corp AB (Sweden)”.
Only another month to wait for some more news, probably advising of yet another delay!
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