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Precious Investments Inc Review: Is Pnik.rocks SCAM?

Precious Investments Inc Review: Is Pnik.rocks SCAM?

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With claims of innovation and a colorful website to top it off, Precious Investments Inc or PNIK continues to deceive investors who want to make a profit trading diamond.

You can be fooled by this well-dressed up diamond investment scheme that Precious Investments Inc is. However, I do not want to be in a position where I shall say ”I told you so”.

If you have never seen or witnessed all shapes and colors that diamond investment scams come in, Precious Investments Inc is a good example to start with.

The reason why I am spot-on yet a little bit sensitive is because Precious Investments Inc is misrepresenting a legitimate opportunity.

In fact, as long as shams like Precious Investments Inc will continue existing, they will ruin the good name that the Diamond industry has built for itself in the course of time.

This will eventually spoil the reputation of legitimate Diamond investment professionals. So we are actually going to try stopping the malice before it spreads further. Information is the only means through which we shall achieve this goal.

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The history and status of Precious Investments Inc

pnik.rocks/#kashif

This company operates out of Toronto, Canada. They recently introduced another element to their business model. It’s the newly created BAM or Bitgem Asset Management opportunity.

BAM sounds innovative and real. But in my opinion, this is the sound that your money will make when you kiss it goodbye.

When I did my due diligence on this company, I found that they had a $1 million total deficit. They had not made any sales or generated revenue up to the latest financial statement that was filed by the SEC. Any wise investor should treat this as a red flag.

As if that is not enough, Precious Investments Inc now wants to create a digital currency which they will call bitgem.

Each bitgem is supposed to be priced at $1. 5million bits are to be released. Precious Investments Inc values the entire portfolio at $5 million.

Notice how the phrase Bitgem is similar to Bitcoin — which is the first Ether coin to be introduced in the cyber currency market.

This Ether will be valued and supported by Precious Investment Inc color diamond portfolio.

However, before I forget, has someone taken some time to investigate this company’s standing with SEC? There are so many red flags. It actually looks like a red carpet.

Here’s what the plan is

By now, they must have started selling the crypto-currency. They’ve also backed it up with a legal document which describes the terms and conditions for using their Bitgem.

Those terms and conditions used to be hosted on this page – Bitgems.io/pinkcoin-sales-terms.pdf. It appears that this link is no longer active, or those terms and conditions have been scrapped off. Either of these could be the case.

Before that document was pulled down, we got an opportunity to read it. I can tell you for sure that there were a host of conditions associated with the use of this crypo-currency that investors should be wary of.

This document also raised eyebrows. It claimed that Precious Investments Inc could issue up to 100 million tokens. As of now, they are issuing 5 million only — which is valued at $1 each against the 5 million value of diamond and other jewelry.

If you go to their website, you will see that it does not even display a handful of these stones.

Instead, Precious Investments Inc claims that the stones have been independently appraised by a licensed Canadian appraiser.

The website is also bold with claims that this particular jewel appraiser has appraised more color diamond than any other jewel appraiser in Toronto.

My question is: how do they even know the amount of color diamond that other appraisers have appraised?

Such statements raise red flags. To me, it sounds like made-up stuff, and the reason why such statements appear on their site is because they want to sound authentic.

Precious Investments Inc statement
Text sample highlighting where Precious Investments Inc claims that their appraiser has appraised more color diamond than any other

What else do I use to determine whether or not this statement is utterly ludicrous?

Well, it’s easy to know. First of all, these professionals are very few in the entire world. They can be counted as there are only a handful of professionals who deal in fancy color diamonds. These professionals are well-known, and have been running this business for up to 4 generations now.

You can take it to the bank when I tell you that no one at Precious Investments Inc is a professional in color diamond. The same applies to their associates too.

My second question is this: how did Precious Investments Inc acquire goods valued at $5 million for the price of $4m just a few months prior to the deal?

Other ridiculous claims that Precious Investments Inc makes

They claim that when tokens are issued, they will also disclose their full list of diamond collection which shall stand for the currency.

This is a bad thing. How can you make an informed decision as an investor if you’re only gaining access to that list on the same day the token is issued?

This is a red flag. If you are an investor, you should know where your money is going. This list should be readily accessible to allow calculated decision making.

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Also, it’s important to note that investors should have an assurance that the assets are worth what they say they are worth. In this case, there is no assurance. One would need to look into this thing carefully to know whether or not they will get a raw deal.

Where are assets held? Very interesting claim here

The company says that their assets are held in escrow at 1102-21 Dundas Square, Toronto.

The problem is that no one has ever verified if indeed their offices are situated here.

Or is this an office belonging to a related party? You see, any serious investor must not rely on obscure information to make judgement. It’s a bad idea.

Moreover, Precious Investments Inc says that they are insured by a company known as Lloyds of London.

The million dollar question is this; for what value did their asset get insured? Are we going to work with the $4 million that was paid or the $5 million current value?

How about the fluctuations of the insurance value. Will it change depending with the value of the asset that has been insured? And finally, who will benefit from this insurance policy?

Apparently, Precious Investments Inc does not give this information on their site. Furthermore, they hold their asset in escrow. What is the point of this? Isn’t this supposed to act as a neutral third party? Please consider it a red flag and find more reliable diamond investment opportunities like this one.

Moreover, this is one of the most inconsistent website we have seen on the internet. These idiots claim that they don’t allow US citizens to invest with them.

However, in a separate 5-page document, they provided details as related to US tax and IRS information. Why is this so? And if they are based in Canada, why don’t they use rules and regulations governing diamond investments in Canada as opposed to the US?

Our best advice for you

Avoid this scam at all cost. If you have to invest in diamond trading, you would be better off putting your money here.

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