PointShareXtreme admin responds to scam accusation

James Ryan Jonas

Pinoy Money Talk recently received an email purportedly from PointShareGold / PointShareXtreme (PSG/PSX) admin Henry James Banayat, in response to an article we posted reporting his arrest and the growing criticism of investors against his programs.

In the email, Banayat explains why PointShareXtreme (PSX) is not and should not be called a scam.

Full text of the (unedited) letter after the jump.

* * * * * * * * * * * * * * *

To: Pinoy Money Talk

Thank you for giving me this opportunity to hear or at least get the other side of the coin. To date we only have 11,753 members worldwide. And less than a hundred have been posting negatively in the forum due to several changes in the program.

This program is 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 in the Philippines 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 (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 making things possible and are focused on ensuring that with the tremendous growth of this program, all members should have been trained and educated on our business plan and 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 National Bureau of Investigation is indeed trying to pull this program down by hitting me as the founder of Compumatrix and our company 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. We sell prepaid load packages for online advertising, 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 users 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 we are continuously educating members to 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 shall 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 that our program will work for each and everyone. Every available balance are attainable if they (our members) 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.

Henry James Banayat
Compumatrix and Networks Interactive, Inc.
(managing PointShareXtreme.com)

* * * * * * * * * * * * * * *

Any reaction to Banayat's email? Post a comment below or drop by the HYIP: Point Share Gold / PointShareXtreme thread in the PMT Forum.

James Ryan Jonas teaches business management, investments, and entrepreneurship at the University of the Philippines (UP). He is also the Executive Director of UP Provident Fund Inc., managing and investing P3.2 Billion ($56.4 Million) worth of retirement funds on behalf of thousands of UP employees.