Following its Chapter 11 bankruptcy, DreamTrips emerged as the successor to WorldVentures about a year ago.
DreamTrips came about as a result of
Verona International Holdings acquiring WorldVentures’
, namely the MLM company and Rovia (WorldVentures’ in-house travel services provider).
BehindMLM
reviewed DreamTrips
in November 2021, following a November 16th launch announcement.
A reader recently wrote in to advise that DreamTrips had revised its compensation plan in July 2022.
Today we revisit DreamTrips for an updated review. Not only on the compensation side of things, but also as to who exactly owns the company.
DreamTrips International Corporate
One thing that’s bugged me since the acquisition announcement is the failure to disclose who’s behind Verona International Holdings.
Verona International Holdings doesn’t have a website or online presence. It’s a murky Texas entity formed in August 2021.
What made Verona International Holdings even more murky was the fact that it was obviously created to pursue WorldVentures acquisition.
In researching DreamTrips for today’s updated review, my first port of call was researching Verona International Holdings to get to the bottom of ownership once and for all.
The good news is, as per a WorldVentures bankruptcy filing dated October 2021, I can list Verona International Holdings employees:
Michael Poates is Verona’s CEO
Eric Haynes is Verona’s COO
Paul Jenkins is CEO of Rovia and
Simon Davies is Verona’s CFO
The bad news is these are employees, answerable to Verona International Holdings anonymous Board of Directors.
Three names I can confirm are on Verona’s Board of Directors are Mark Smith, Tammy Smith and Eric Haynes.
Curiously, Eric Haynes has replaced Poates as Verona’s current CEO:
Mark and Tammy Smith, DreamTrips’ CEO and Chief Field Officer, only bought into Verona
a few months ago
.
“We are excited to welcome Mark and Tammy as our partners in this investment. They have set a clear strategic vision for the future of DreamTrips International.
We are fortunate to have them on our executive team and as our partners to grow the Brand”, said Emmett McNulty, a representative of Verona.
Who is Emmett McNulty? Or is it Emmert McNulty?
No idea. With respect to Verona, McNulty has no digital footprint outside of one publicly indexed WorldVentures bankruptcy filing (cited above).
As disclosed in the filing, McNulty is part of “General Management Group”. That did lead me to this breadcrumb:
If that’s the same guy, then we can conclude Verona International is a notch on the belt of a faceless corporation that specializes in scooping up failed or failing companies.
Look, for an MLM company this level of disclosure is a bad look. For an MLM company that
operated as a pyramid scheme
, with an extraordinarily messy past, it’s atrocious.
I’m not blaming them exclusively for WorldVentures’ collapse, but Michael Poates, Eric Haynes, Paul Jenkins and Simon Davies are all former WorldVe
🤖 Quick Answer
What is Verona International Holdings' relationship with DreamTrips?Verona International Holdings is the acquisition company that purchased WorldVentures' assets following its Chapter 11 bankruptcy. The acquisition included both the MLM business and Rovia, WorldVentures' travel services provider. DreamTrips emerged as the successor entity approximately one year after the bankruptcy proceedings concluded.
When did DreamTrips launch and what changes occurred afterward?
DreamTrips launched on November 16th, 2021, following an announcement reviewed by BehindMLM in November of that year. In July 2022, the company implemented revisions to its compensation plan, prompting updated analysis of its business structure and ownership transparency.
What transparency issues surround Verona International Holdings' ownership?
The ownership structure behind Verona International Holdings has not been publicly disclosed, despite the company's acquisition of WorldVen
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