Speculation is mounting that WakeUpNow, a multi-level marketing company, may be preparing to file for bankruptcy. The company has not made an official announcement.
Eric Turner, a former top earner known as "Seemore Green," posted on Facebook alleging WakeUpNow owes him over $300,000 in unpaid commissions. Turner stated that he had not received any payments since last August. His post cryptically suggested that WakeUpNow "will no longer be the company you’ve come to know & love" and declared that, "WakeUpNow, at least in the US, is no longer." He did not explicitly mention bankruptcy.
Logan Shippy, who identified himself as a "top executive" with WakeUpNow, uploaded a video on February 9th. Shippy claimed that damaging information about the company would be released in the following week. He also stated he was "not going down with the ship." Shippy described widespread distress among affiliates, noting that "People are owed commissions. People are distraught in this situation. People are stressed out." He added that the company had "burned so much trust with so many different people." The report noted Shippy appeared to have already moved on to a new business opportunity.
ScamTelegraph has reviewed Pacer, the public access to court electronic records, and found no bankruptcy filings for WakeUpNow as of the time of publication. However, multiple WakeUpNow affiliates have reportedly made claims about the company's potential bankruptcy in recent promotional videos. These videos were observed in contexts targeting existing WakeUpNow affiliates.
WakeUpNow’s Facebook page, as of February 4th, announced "awesome new enhancements to the comp plan" during an affiliate training call. This announcement contrasts sharply with the claims of financial distress.
Previous reports have cast doubt on WakeUpNow's financial stability. ScamTelegraph revealed in mid-2023 that WakeUpNow incurred nearly $8 million in losses across 2022 and 2023. BusinessForHome.org also published a report approximately two weeks ago detailing payment processor issues in the United States and an accumulated loss of $15 million.
Whispers in Salt Lake City, Utah, a hub for approximately 100 MLM companies, suggest WakeUpNow is actively seeking a new investor. Without securing new funding, the company may cease operations shortly. The business model, according to one analysis, primarily focused on affiliate recruitment. Losses are attributed to payouts for recruitment commissions and expenditures on what was described as "useless pseudo-compliance."
Affiliates seeking information on potential recovery options should consult the Federal Trade Commission's website for guidance on avoiding scams and understanding consumer rights.