Sylvia
Misleading ads for 9% APY offerings
YouTube ads advertise a 9% annual return with a minimum investment of only $5000, but on the website it suddenly says: "We apologize but we are currently in the process of an update to the offering statement for the 9% Regulation A bond offering. This is a standard process required of all Regulation A issuers with offerings which continue for more than twelve months. During this period, we can provide information about the offering, but we may not accept subscriptions until after. You can indicate your interest in investing, and we will be happy to follow up once complete." Currently all offerings require at least a 100k investment. I think it's misleading to leave these ads running while the service isn't available.
Response from Phoenix Energy One, LLCJan 3, 2023
Thank you for the comments and we apologize for any confusion. We take customer service very seriously as evidenced by the other reviews and investor experiences with our firm. Each year, pursuant to SEC regulations, we have to pause the offerings on their anniversary date. This is a 1-2 week period of time that is required by the regulatory agencies, but the offering isn't going anywhere and will be back up in our portal within a week. I am unsure why this merits a 1-star review as there is no material impact to anyone as a result of this delay. Investors that participate once it's back live will get the full month of interest so there is no detrimental impact. Again, we apologize for any confusion or misunderstanding and Happy New Year. Best, Matt




