A year and a half ago I introduced this blog to PointShareXtreme, only it was called PointShareGold back then. I was still pretty green to the HYIP industry and was jumping on anything that looked remotely promising. At the same time I was getting my proverbial butt kicked by HYIPs. So, when PSX stopped paying and starting a long, slow road to changes I was more than happy to wait and jump through hoops, as long as it didn’t cost me any more money. I posted what was going on at this blog until we were told we were under a gag order. Even then I continued to jump through the hoops and even notified everyone that had joined under me what those hoops were.
Well, this weekend Henry James Banayat finally announced the demise of his “vision.” Did he take any blame? NO! Did he apologize for any of the failed promises? NO!! Did he at least apologize for stringing everyone along for so long? NO!!! What he displayed this weekend was the most egotistical, narcissistic exit that I have seen, yet. (That includes the egotistical, narcissistic exit that Bobby Krimm pulled.)
Here are the two posts at the mothership site, Compumatrix and Network Interactive, Inc (CNII):
A Message from the CEO
Written by Administrator
Friday, 10 August 2007
PointShareXtreme is paying and will continue to pay. Unlike any other program, we have been paying members with prepaid load credits that can be converted into cash in several ways. This is the only program that has combined powerful concepts such as the prepaid industry, internet marketing/online advertising and e-Shopping. Only PSX funds can be used to purchase these e-products and avail our e-services. We are never a High Yield Investment Program or a get-rich-quick scheme. Our business plan had always been focused on sales and marketing, provision of jobs for people worldwide (working as Independent Internet Marketing Associates) and ensuring growth of small and medium enterprises. However, I am sad that the forum feels neglected just for the fact that our company are taking every measure to ensure the programs longevity. Our company are making things possible and are focused on ensuring that with the tremendous growth of this program, all members should have been trained, equipped and educated with our business plan, marketing plans and how or why our program will work and benefit a lot of people.
What was seen in negative forums are pointless allegations. Our company is well aware of the fact that the NBI is indeed trying to pull this program down by hitting the President and Founder of Compumatrix. Compumatrix manages PSX and other websites that are envisioned to assist people from every walk of life. If you were to search online, you would notice that the agent they are dealing with have had a reputation of “selective prosecution.”
It saddens me that our members stopped promoting this program since they thought and always seem to think that it is a High Yield Investment Program. We are not. The company, together with the teleworkers, sell prepaid load packages in the form of packaged online advertising credits, which should allow members to increase their leads, contacts and customer base. That is why we need millions of members worldwide. As of the recent statistics, there are over 1.1 Billion internet usetrs worldwide and our goal is to open up their eyes to the various business opportunities on the internet today and to let them showcase their skills and enhance their knowledge by letting PSX as a venue of informative materials which can be purchased if they have our PSX funds.
We have set our value. But members should respect the value of our funds. It is used to purchase our e-products and e-services. And we will place more goods and services that can be availed in our system especially upon launching our merchant program.
Everyone should think deeper into our long-term vision and be aware that this is a revolutionary system that would eventually change everyones lives, hopes and dreams.
Our company will remain to stay on this path towards that vision of changing the world through caring and sharing. And I hope members realizes that this is not a one-sided program. We need each others support in this venture. We need to fight towards achieving each and everyones goals.
Our company is determined and will see to it that our program will continue to work for each and everyone. Every available balance are attainable if they only start to value it and think of the things that the funds are good for first so that they’d know how to market it properly. All these shall start the moment you decide to accept the changes in the program and walk together towards the long term vision of PointShareXtreme.com.
And:
PointShareXtreme has a vision, like most visionaries throughout history; they are persecuted or worse, killed, before they can fulfill the purpose of that vision. Once the vision is destroyed, it doesn’t matter if it is then appreciated because the visionary is lost and the prosperity that might have been is lost as well.
So much has been said and done to “kill” the vision Henry James Banayat has for his organization, but it is not the efforts of the masses, it is the frantic actions of a “handful” of individuals. Individuals who are either not capable or unwilling to understand the necessity for the organization to evolve in order to keep up with a growing membership.
Since PointShareXtreme.com has opened for membership in the Philippines, there has become an urgent need to evolve. From the beginning, passive membership was permitted. Passive membership was basically, “purchase a plan and wait for the rebates.” In reality, it presented an unbelievable opportunity, “unbelievable but true,” to pay a little and receive a lot with no effort on the part of the passive member. As a result, the number of passive members grew to such a high number, that the funds of the organization were greatly depleted. At this point in time the policies of the organization must change drastically in order to remain stable. It is imperative that members actually start to consider putting forth some effort as well, to ensure the stability of the organization.
As members, we all need to take the initiative to “work” for our own financial future and not let this opportunity die. As it stands now, members that have been working up to this point are not receiving their rebates because passive members are not working at all and not contributing to the success of the organization. Every member, upon requesting membership, signed an application agreeing to two (2) specific points:
- That I agree to be an independent marketing associate of CNII and I agree to market or sell its products and services under its various programs; and
- The Company reserves the right to modify, amend and or update its policies and procedures under its pay program for its best interests and that of its members.
Every complaint that has been made has come from a member that has not fulfilled the conditions of the agreement they signed. In reality, what is happening here in the Philippines is the cause for the organization’s instability. It is now the responsibility of Filipino members to rectify the problem by taking responsibility and the initiative to “work” and repair the damage Passive membership has caused. Let’s all be thankful for the prosperity we have experienced thus far and exhaust every effort to ensure the long term prosperity all members have yet to experience.
As you can see, instead of apologizing, Henry did what a lot of scammers do; he blamed it on the members! Well, I lay the blame squarely on his shoulders. I am a bit embarrassed at having been swayed by broken promise after broken promise. It wasn’t that I had put a great deal of money into PSuX. It was more that I had nursed to a $120K virtual account! I, like so many others, let greed get in front of common sense. For that and for not writing about this sooner, I apologize to all NoBS HYIP Blog readers.
Good riddance to Henry James Banayat! I hope justice prevails and you rot in jail thinking about your so-called “vision” and all of the people that you hurt to help no one, except yourself!
One note of personal observation that I must add is that the forum administrators are not to be blamed in this case. In some programs, the forum administrators are in cahoots with the program administrator, but not in this case. They were told more lies than the members were. In the end, they were beaten to a pulp by this program, just like the members were.
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Sometime around August, the US Congress Joint Economic Committee (JEC) will release their most recent report on the potential taxation of virtual goods. At present there is no denying the monster growth in these virtual worlds such as Entropia Universe, World of Warcraft, Second Life & EverQuest.
Look at these amazing numbers! On March 14, 2007, 
