For "engaging in the unlawful solicitation, offer, and/or sale of securities in the form of investment contracts without the necessary license from the SEC," marketing company Superbreakthrough Enterprises Corp., also known as 1UP Time, has been slapped a cease and desist order by the Securities and Exchange Commission, effective "immediately".

Superbreakthrough Enterprises Corp. is headed by its president Juluis Allan Nolasco, who was already the subject of a previous cease and desist order from the SEC in relation to "his promotion of illegal investment activities" through another company, Alphanetworld Corporation or NWorld.

"The order was issued following the continued monitoring activities of the SEC Enforcement and Investor Protection Department over NWorld and Mr. Nolasco, which led to the discovery of the operations of Superbreakthrough Enterprises," said the SEC.

The commission pointed out that "Superbreakthrough Enterprises' articles of incorporation specifically provides that it has no authority to solicit or accept investments from the public," hence it found objectionable the company's scheme that "involves the sale and offer of securities to the public in the form of investment contracts, whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others."

With investment packages ranging from P10,000 to P188,000 for cosmetics, health and wellness, and personal care products promoted on YouTube and Facebook, Superbreakthrough Enterprises recruited investors with "promised returns ranging from 25% to 35% worth of product discounts, recruitment bonuses, and other incentives."

"A careful examination and analysis of the investment scheme of 1UP Time will readily show that its success and viability is heavily dependent on recruitment and/or entry of new investors who are guaranteed P500 per new recruit/referral," declared the SEC order dated 5 December.

In addition, "The Commission also prohibited the company from transacting any business involving funds in its depository banks, and from transferring, disposing, or conveying any related assets to ensure the preservation of the assets of its investors. The company was likewise ordered to cease its internet presence relating to its investment scheme."

The order against Superbreakthrough Enterprises covers Nolasco and its directors, officers and agents.

"1Up Time's act of selling/offering product/investment packages which are securities in the form of investment contracts constitute sans the requisite registration statement necessarily defrauds the investment public and warrants the immediate issuance of a CDO," the SEC stressed.